Greenfield Banking Company Mortgage Rates, Fees & Info

Greenfield, IN

LEI: 549300LCSS511JWT1A44

Tax ID: 35-0352340

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Greenfield Banking Company is a smaller bank specializing in Home Purchase and Refi loans. Greenfield Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, New Castle, Richmond, and Columbus among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Greenfield Banking Company has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Greenfield Banking Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.16% 4/28/24
    30 Year Conventional Refi 5.61% 4/28/24
    30 Year Cash-out Refi 6.33% 4/28/24
    15 Year Conventional Purchase 6.65% 4/28/24
    15 Year Conventional Refi 6.25% 4/28/24
    15 Year Cash-out Refi 6.25% 4/28/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Greenfield Banking Company Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Greenfield Banking Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    89

    Origination Dollar Volume (All Markets)

    $11,555,000

    Employee count

    122

    Awards

    Greenfield Banking Company 30 Year Conventional Loans gold Greenfield Banking Company 30 Year Conventional Loans gold
    Show all (2) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 81 $10,545,000 $130,185 $1,253 5.15%
    New Castle, IN (FHA|USDA|VA) 5 $385,000 $77,000 $1,100 5.43%
    Richmond, IN (FHA|USDA|VA) 1 $285,000 $285,000 $1,768 5.63%
    Outside of Metro Areas 1 $195,000 $195,000 $1,487 4.38%
    COLUMBUS, IN (FHA|USDA|VA) 1 $145,000 $145,000 $1,483 4.63%
    Greenfield Banking Company's top markets include Indianapolis, New Castle, Richmond, and Columbus among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Greenfield Banking Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Greenfield Banking Company
    Similarity Rank: 255
    Hendricks County Bank and Trust Company
    Similarity Rank: 393
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 450
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    The Farmers Bank, Frankfort, Indiana
    Similarity Rank: 814
    The National Bank of Indianapolis
    Similarity Rank: 1020
    Stock Yards Bank & Trust Company
    Similarity Rank: 1176
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 1278
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1482
    FORUM Credit Union
    Similarity Rank: 1520

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 89 $11,555,000 $129,831 $1,258 5.16%

    For 2018, Greenfield Banking Company's most frequently originated type of loan was Conventional, with 89 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 41 $6,775,000 $165,244 $1,470 5.00%
    Refi 19 $2,535,000 $133,421 $1,338 5.05%
    Cash Out Refi 18 $1,750,000 $97,222 $1,265 5.32%
    Other 6 $250,000 $41,667 $588 5.79%
    Home Improvement 5 $245,000 $49,000 $467 5.53%

    For 2018, Greenfield Banking Company's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 38 $7,300,000 $192,105 $1,499 4.70%
    20 Year 20 $1,970,000 $98,500 $1,068 5.65%
    15 Year 17 $1,795,000 $105,588 $1,206 5.25%
    10 Year 10 $320,000 $32,000 $573 5.81%
    5 Year 3 $55,000 $18,333 $734 5.17%
    Other 1 $115,000 $115,000 $1,527 4.38%

    For 2018, Greenfield Banking Company's most frequently cited loan duration was 30 Year, with 38 originations. The 2nd most popular length was 20 Year, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 70 $10,460,000 $149,429

    Greenfield Banking Company's average total fees were $1,499, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 70 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 50 $8,770,000 $175,400
    5-6% 26 $1,670,000 $64,231
    6-7% 11 $745,000 $67,727
    3-4% 1 $305,000 $305,000
    7-8% 1 $65,000 $65,000

    During 2018, Greenfield Banking Company's average interest rate for loans was 4.70%, while their most frequently originated rate bucket for loans was 4-5%, with 50 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 41 $2,045,000 $49,878 $899 5.56%
    $100k-200k 26 $3,450,000 $132,692 $1,425 5.00%
    $200k-400k 19 $4,785,000 $251,842 $1,521 4.61%
    $400k-600k 3 $1,275,000 $425,000 $1,538 4.43%

    2018 saw Greenfield Banking Company place emphasis on $100,000 or less loans with 41 originations, totaling $2,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 20 $2,100,000 $105,000 $1,359 5.12%
    $75k-100k 18 $2,830,000 $157,222 $1,187 4.98%
    $50k or less 17 $1,265,000 $74,412 $1,181 5.35%
    $100k-150k 15 $2,225,000 $148,333 $1,322 4.89%
    $150k-250k 7 $1,415,000 $202,143 $1,351 4.91%
    $250k+ 5 $1,095,000 $219,000 $1,220 5.30%

    Greenfield Banking Company lent most frequently to those with incomes in the $50k-75k range, with 20 originations. The second most popular income band? $75k-100k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 35 $5,605,000 $160,143 $1,382 5.08%
    30-36% 23 $2,315,000 $100,652 $1,212 5.14%
    <20% 15 $1,885,000 $125,667 $1,157 4.84%
    37% 4 $260,000 $65,000 $765 5.91%
    39% 2 $220,000 $110,000 $1,427 5.04%
    38% 2 $490,000 $245,000 $1,568 4.81%
    36% 1 $155,000 $155,000 $1,697 5.50%

    Greenfield Banking Company lent most frequently to those with DTI ratios of 20-30%, with 35 originations. The next most common DTI ratio? 30-36%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 83 $11,025,000 $132,831 $1,268 5.08%
    Not applicable 6 $530,000 $88,333 $537 6.18%

    Approval Rates

    Total approvals of all applications
    91.15%

    Greenfield Banking Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.27%

    Greenfield Banking Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 89 $11,555,000 $129,831

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 89 $11,555,000 $129,831

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $560,000 $56,000 $988 5.45%
    40-60% 14 $1,660,000 $118,571 $1,292 5.41%
    60-80% 38 $5,910,000 $155,526 $1,467 4.95%
    80-100% 14 $2,930,000 $209,286 $1,583 4.94%
    Under 20% 13 $495,000 $38,077 $611 5.51%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Greenfield Banking Company 10 East Main Street Greenfield, IN 46140 Full Service B&M $54,719
    Greenfield Banking Company 111 West Broadway Fortville, IN 46040 Full Service B&M $66,605
    Greenfield Banking Company 12140 East Washington Street Cumberland, IN 46229 Full Service B&M $50,725
    Greenfield Banking Company 1920 North State Street Greenfield, IN 46140 Full Service B&M $273,127
    Greenfield Banking Company 51 N. Meridian Road Greenfield, IN 46140 Full Service B&M $13,203
    Greenfield Banking Company 5783 W Us 52 New Palestine, IN 46163 Full Service B&M $27,062
    Greenfield Banking Company 7363 N 600 W Mc Cordsville, IN 46055 Full Service B&M $11,265

    For 2018, Greenfield Banking Company had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,021
    Net interest income $18,084
    Total noninterest income $5,363
    Gross Fiduciary activities income $1,916
    Service charges on deposit accounts $2,265
    Trading account gains and fees $0
    Additional Noninterest Income $1,182
    Pre-tax net operating income $9,276
    Securities gains (or losses, -) $199
    Income before extraordinary items $7,466
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,466
    Minority interest net income $0
    Net income $7,466
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,308

    Greenfield Banking Company's gross interest income from loans was $19,021,000.
    Greenfield Banking Company's net interest income from loans was $18,084,000.
    Greenfield Banking Company's fee based income from loans was $2,265,000.
    Greenfield Banking Company's net income from loans was $7,466,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $937
    Provision for credit losses $577
    Total noninterest expense $13,594
    Salaries and employee benefits $7,969
    Premises and equipment expense $1,833
    Additional noninterest expense $3,792
    Applicable income taxes $2,009
    Net charge-offs $244
    Cash dividends $1,872

    Greenfield Banking Company's interest expense for loans was $937,000.
    Greenfield Banking Company's payroll and benefits expense were $7,969,000.
    Greenfield Banking Company's property, plant and equipment expenses $1,833,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.9%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $515,221
    Deposits held in domestic offices $515,221
    Deposits by Individuals, partnerships, and corporations $420,036
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $95,185
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $124,425
    Demand deposits $36,984
    Nontransaction accounts $390,796
    Money market deposit accounts (MMDAs) $42,854
    Other savings deposits (excluding MMDAs) $314,189
    Total time deposits $33,753
    Total time and savings deposits $478,237
    Noninterest-bearing deposits $184,135
    Interest-bearing deposits $331,086
    Retail deposits $511,394
    IRAs and Keogh plan accounts $13,741
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $574,316
    Cash & Balances due from depository institutions $112,421
    Interest-bearing balances $99,598
    Total securities $175,633
    Federal funds sold & reverse repurchase $2,374
    Net loans and leases $264,248
    Loan and leases loss allowance $3,629
    Trading account assets $0
    Bank premises and fixed assets $12,420
    Other real estate owned $460
    Goodwill and other intangibles $654
    All other assets $6,106

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $574,317
    Total Liabilities $519,834
    Total deposits $515,221
    Interest-bearing deposits $331,086
    Deposits held in domestic offices $515,221
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $4,613

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $264,248
    Loan and leases loss allowance $3,629
    Total loans and leases (domestic) $267,877
    All real estate loans $211,933
    Real estate loans in domestic offices $211,933
    Construction and development loans $23,674
    Residential 1-4 family construction $6,194
    Other construction, all land development and other land $17,480
    Loans secured by nonfarm nonresidential properties $109,813
    Nonfarm nonresidential secured by owner-occupied properties $85,141
    Commercial real estate & other non-farm, non-residential $24,672
    Multifamily residential real estate $9,679
    1-4 family residential loans $66,969
    Farmland loans $1,798
    Loans held in foreign offices $0
    Farm loans $20,295
    Commercial and industrial loans $25,691
    To non-U.S. addressees $0
    Loans to individuals $9,946
    Credit card loans $4,338
    Related Plans $196
    Consumer Auto Loans $5,412
    Other loans to individuals $0
    All other loans & leases $13
    Loans to foreign governments and official institutions $0
    Other loans $13
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $376
    Non 1-4 family restructured loans & leases $63
    Total loans and leases (foreign) $0

    Greenfield Banking Company had $264,248,000 of loans outstanding in 2018. $211,933,000 of loans were in real estate loans. $23,674,000 of loans were in development loans. $9,679,000 of loans were in multifamily mortgage loans. $66,969,000 of loans were in 1-4 family mortgage loans. $20,295,000 of loans were in farm loans. $4,338,000 of loans were in credit card loans. $5,412,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 259 $75,376 $291,027
    Nonfarm, nonresidential loans - <$100k 64 $1,997 $31,203
    Nonfarm, nonresidential loans - $100-250k 111 $10,269 $92,514
    Nonfarm, nonresidential loans - $250k-1MM 84 $63,110 $751,310
    Commercial & Industrial, US addressed loans - <$1MM 399 $25,691 $64,388
    Commercial & Industrial, US addressed loans - <$100k 314 $5,768 $18,369
    Commercial & Industrial, US addressed loans - $100-250k 50 $3,681 $73,620
    Commercial & Industrial, US addressed loans - $250k-1MM 35 $16,242 $464,057
    Farmland loans - <$1MM 13 $1,797 $138,231
    Farmland loans - <$100k 6 $249 $41,500
    Farmland loans - $100-250k 4 $288 $72,000
    Farmland loans - $250k-1MM 3 $1,260 $420,000
    Agriculture operations loans - <$1MM 256 $20,295 $79,277
    Agriculture operations loans - <$100k 205 $4,395 $21,439
    Agriculture operations loans - $100-250k 23 $2,725 $118,478
    Agriculture operations loans - $250k-1MM 28 $13,175 $470,536