First Harrison Bank Mortgage Rates, Fees & Info

Corydon, IN

LEI: 549300LGEXCX325O8C49

Tax ID: 35-0634720

5 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Harrison Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. First Harrison Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Louisville/jefferson County, Bardstown, Crestview, Las Vegas, and Elizabethtown among others. First Harrison Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First Harrison Bank is typically a low fee lendor.


Originations

961

Origination Dollar Volume (All Markets)

$164,285,000

Employee count

198 Show all (12) awards

Relative Rate

First Harrison Bank's average 30 year fixed rate mortgage of loans were 2.97%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.18%.

Relative Fees

First Harrison Bank's average total fees for a 30 year fixed rate mortgage are $2,623.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 873 $148,205,000 $169,765 $2,281 3.04%
Outside of Metro Areas 36 $4,850,000 $134,722 $2,241 3.59%
Bardstown, KY (FHA|USDA|VA) 20 $3,460,000 $173,000 $2,942 3.21%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,755,000 $1,755,000 $0 3.50%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $905,000 $905,000 $7,866 2.88%
ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 5 $805,000 $161,000 $2,318 3.59%
Scottsburg, IN (FHA|USDA|VA) 5 $725,000 $145,000 $2,678 2.58%
Seymour, IN (FHA|USDA|VA) 3 $475,000 $158,333 $2,232 3.23%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $450,000 $225,000 $2,107 2.38%
Glasgow, KY (FHA|USDA|VA) 1 $405,000 $405,000 $3,253 3.25%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $350,000 $175,000 $4,308 2.94%
BLOOMINGTON, IN (FHA|USDA|VA) 1 $325,000 $325,000 $2,341 2.75%
Madison, IN (FHA|USDA|VA) 3 $305,000 $101,667 $2,214 3.17%
PANAMA CITY, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 3.00%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $300,000 $150,000 $2,132 2.13%
COLUMBUS, IN (FHA|USDA|VA) 1 $265,000 $265,000 $2,104 2.88%
Frankfort, KY (FHA|USDA|VA) 1 $205,000 $205,000 $0 3.75%
North Vernon, IN (FHA|USDA|VA) 2 $130,000 $65,000 $3,293 6.00%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $65,000 $65,000 $2,049 3.63%

First Harrison Bank's top markets include Louisville/jefferson County, Bardstown, Crestview, Las Vegas, and Elizabethtown among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 904 $154,500,000 $170,907 $2,121 3.10%
FHA 43 $7,725,000 $179,651 $5,369 2.69%
USDA 14 $2,060,000 $147,143 $3,707 2.88%

For the 2021 period, First Harrison Bank's most frequently originated loan type of loans were Conventional, with 904 originations. Their 2nd most popular type is FHA, with 43 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 315 $52,765,000 $167,508 $2,092 2.79%
Home Purchase 308 $61,410,000 $199,383 $2,881 3.14%
Cash Out Refi 222 $36,530,000 $164,550 $2,260 3.07%
Home Improvement 88 $11,320,000 $128,636 $1,832 3.35%
Other 27 $1,855,000 $68,704 $962 4.74%
NA 1 $405,000 $405,000 $0 3.50%

For the 2021, First Harrison Bank's most frequently cited loan purpose of loans were Refi, with 315 originations. The 2nd most popular reason of loans were Home Purchase, with 308 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 483 $94,005,000 $194,627 $2,623 2.97%
15 Year 204 $31,240,000 $153,137 $2,265 2.49%
20 Year 113 $18,175,000 $160,841 $2,174 3.13%
10 Year 73 $5,605,000 $76,781 $1,009 4.25%
Other 71 $12,705,000 $178,944 $1,806 3.83%
5 Year 15 $655,000 $43,667 $339 4.67%
1 Year 2 $1,900,000 $950,000 $0 3.88%

For the 2021, First Harrison Bank's most frequently cited loan length of loans were 30 Year, with 483 originations. The 2nd most popular length of loans were 15 Year, with 204 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 815 $136,615,000 $167,626
$1k-2k 31 $4,515,000 $145,645
$2k-3k 10 $2,510,000 $251,000
$3k-4k 2 $690,000 $345,000
$5k+ 1 $405,000 $405,000

$2,623 of loans were First Harrison Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 815 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 323 $61,975,000 $191,873
<2.5% 315 $55,275,000 $175,476
3-4% 216 $39,200,000 $181,481
4-5% 60 $5,060,000 $84,333
5-6% 20 $1,380,000 $69,000
6-7% 20 $1,000,000 $50,000
7-8% 6 $380,000 $63,333
Over 8% 1 $15,000 $15,000

During 2021, First Harrison Bank's average interest rate of loans were 2.97%, while their most frequently originated rate bucket of loans were 2.5-3%, with 323 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 430 $62,010,000 $144,209 $2,380 2.90%
$100,000 or less 250 $16,440,000 $65,760 $1,719 3.68%
$200k-400k 242 $64,860,000 $268,017 $2,622 2.77%
$400k-600k 34 $15,510,000 $456,176 $3,151 2.89%
$600k-1MM 3 $2,265,000 $755,000 $7,866 3.61%
$1MM+ 2 $3,200,000 $1,600,000 $0 3.50%

2021 saw First Harrison Bank place emphasis on $100k-200k loans with 430 originations, totaling $62,010,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 262 $38,410,000 $146,603 $2,250 2.99%
$50k or less 257 $28,935,000 $112,588 $2,281 3.19%
$75k-100k 155 $28,245,000 $182,226 $2,325 2.96%
$100k-150k 134 $30,320,000 $226,269 $2,283 2.85%
$150k-250k 59 $14,575,000 $247,034 $2,648 2.96%
$250k+ 15 $5,845,000 $389,667 $3,107 2.67%

First Harrison Bank lent most frequently to those with incomes in the $50k-75k range, with 262 originations. The second most popular income band? $50k or less, with 257 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 245 $39,655,000 $161,857 $2,243 3.06%
30-36% 176 $30,400,000 $172,727 $2,283 3.00%
<20% 118 $16,210,000 $137,373 $2,044 2.89%
41% 35 $6,775,000 $193,571 $2,750 3.00%
37% 34 $5,880,000 $172,941 $2,468 2.71%
39% 33 $4,955,000 $150,152 $2,393 2.92%
36% 29 $3,945,000 $136,034 $1,950 3.16%
42% 26 $5,780,000 $222,308 $2,532 2.75%
38% 25 $4,355,000 $174,200 $2,156 3.37%
45% 23 $4,175,000 $181,522 $2,741 2.83%
43% 22 $4,020,000 $182,727 $2,285 3.35%
44% 22 $3,620,000 $164,545 $2,859 3.07%
40% 17 $3,145,000 $185,000 $2,245 2.86%
46% 16 $2,830,000 $176,875 $3,371 2.61%
47% 16 $2,560,000 $160,000 $2,335 2.96%
50-60% 13 $1,825,000 $140,385 $2,019 3.66%
48% 12 $2,610,000 $217,500 $2,216 2.84%
49% 11 $2,065,000 $187,727 $2,652 2.94%
>60% 8 $1,410,000 $176,250 $2,451 4.58%

First Harrison Bank lent most frequently to those with DTI ratios of 20-30%, with 245 originations. The next most common DTI ratio? 30-36%, with 176 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 860 $143,900,000 $167,326 $2,303 3.02%
Not applicable 66 $14,340,000 $217,273 $0 3.80%
Not provided 21 $3,215,000 $153,095 $2,292 2.96%
Black 6 $1,190,000 $198,333 $3,167 2.98%
Asian Indian 2 $770,000 $385,000 $2,396 2.63%
Asian 4 $700,000 $175,000 $2,015 2.78%
American Indian 1 $145,000 $145,000 $5,632 3.00%
Other Pacific Islander 1 $25,000 $25,000 $350 4.38%

Approval Rates

Total approvals of all applications
87.22%

First Harrison Bank has an average approval rate.

Pick Rate

Approvals leading to origination
82.80%

First Harrison Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 961 $164,285,000 $170,952

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
961 $164,285,000 $170,952

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 87 $10,015,000 $115,115 $1,765 3.14%
40-60% 185 $26,555,000 $143,541 $2,092 2.78%
60-80% 457 $88,005,000 $192,571 $2,326 3.08%
80-100% 194 $38,000,000 $195,876 $3,069 3.01%
Over 100% 4 $770,000 $192,500 $3,264 3.89%
Under 20% 34 $940,000 $27,647 $421 4.61%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 5.9%
FIRST HORIZON BANK FHA mortgage Trouble during payment process 2 5.9%
FIRST HORIZON BANK FHA mortgage Closing on a mortgage 1 2.9%
FIRST HORIZON BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%
FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 10 29.4%
FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 1 2.9%
FIRST HORIZON BANK Conventional home mortgage Closing on a mortgage 2 5.9%
FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
FIRST HORIZON BANK VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%
FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 2.9%
FIRST HORIZON BANK Other type of mortgage Closing on a mortgage 2 5.9%
FIRST HORIZON BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 6 17.6%
FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 2.9%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
First Harrison Bank 100 South Bardstown Road Mount Washington, KY 40047 Full Service B&M $25,690
First Harrison Bank 1312 Jackson Street Salem, IN 47167 Full Service B&M $66,756
First Harrison Bank 140 South Poplar Street Lebanon Junction, KY 40150 Full Service B&M $28,653
First Harrison Bank 1612 Highway 44 East Shepherdsville, KY 40165 Full Service B&M $168,185
First Harrison Bank 220 Federal Dr Nw Corydon, IN 47112 Full Service B&M $210,624
First Harrison Bank 2420 Barron Ave Ne Lanesville, IN 47136 Full Service B&M $31,502
First Harrison Bank 2754 Allison Lane Jeffersonville, IN 47130 Full Service B&M $25,065
First Harrison Bank 3131 Grantline Road New Albany, IN 47150 Full Service B&M $48,934
First Harrison Bank 391 Old Capitol Plaza Corydon, IN 47112 Full Service B&M $13,054
First Harrison Bank 4303 Charlestown Road New Albany, IN 47150 Full Service B&M $51,019
First Harrison Bank 5100 Hwy 64 Georgetown, IN 47122 Full Service B&M $38,728
First Harrison Bank 550 John Harper Highway Shepherdsville, KY 40165 Full Service B&M $24,513
First Harrison Bank 5609 Williamsburg Station Rd Floyds Knobs, IN 47119 Full Service B&M $37,646
First Harrison Bank 710 Main Street Palmyra, IN 47164 Full Service B&M $84,435
First Harrison Bank 735 Hwy 62 Charlestown, IN 47111 Full Service B&M $2,520
First Harrison Bank 8095 Highway 135 Ne New Salisbury, IN 47161 Full Service B&M $47,249
First Harrison Bank 9849 Highway 150 Greenville, IN 47124 Full Service B&M $41,136
First Harrison Bank 130 South Buckman Shepherdsville, KY 40165 Full Service B&M $19,678

For 2021, First Harrison Bank had 18 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $29,395
Net interest income $28,252
Total noninterest income $9,177
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,737
Trading account gains and fees $0
Additional Noninterest Income $7,440
Pre-tax net operating income $13,121
Securities gains (or losses, -) $7
Income before extraordinary items $10,786
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $10,786
Minority interest net income $0
Net income $10,786
Sale, conversion, retirement of capital stock, net $0
Net operating income $10,780

First Harrison Bank's gross interest income from loans was $29,395,000.
First Harrison Bank's net interest income from loans was $28,252,000.
First Harrison Bank's fee based income from loans was $1,737,000.
First Harrison Bank's net income from loans was $10,786,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,143
Provision for credit losses $-325
Total noninterest expense $24,633
Salaries and employee benefits $14,007
Premises and equipment expense $2,039
Additional noninterest expense $8,587
Applicable income taxes $2,342
Net charge-offs $217
Cash dividends $1,800

First Harrison Bank's interest expense for loans was $1,143,000.
First Harrison Bank's payroll and benefits expense were $14,007,000.
First Harrison Bank's property, plant and equipment expenses $2,039,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
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 $1,037,990
Deposits held in domestic offices $1,037,990
Deposits by Individuals, partnerships, and corporations $887,151
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $150,839
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 $635,926
Demand deposits $243,250
Nontransaction accounts $402,064
Money market deposit accounts (MMDAs) $73,781
Other savings deposits (excluding MMDAs) $270,630
Total time deposits $57,653
Total time and savings deposits $794,740
Noninterest-bearing deposits $243,250
Interest-bearing deposits $794,740
Retail deposits $1,030,229
IRAs and Keogh plan accounts $34,147
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,151,118
Cash & Balances due from depository institutions $170,537
Interest-bearing balances $145,651
Total securities $448,731
Federal funds sold & reverse repurchase $4,562
Net loans and leases $485,700
Loan and leases loss allowance $6,083
Trading account assets $0
Bank premises and fixed assets $15,237
Other real estate owned $36
Goodwill and other intangibles $6,998
All other assets $19,317

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,151,118
Total Liabilities $1,043,411
Total deposits $1,037,990
Interest-bearing deposits $794,740
Deposits held in domestic offices $1,037,990
% insured (estimated) $72
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $5,421

Issued Loan Types

Type Value (in 000's)
Net loans and leases $485,700
Loan and leases loss allowance $6,083
Total loans and leases (domestic) $491,783
All real estate loans $378,738
Real estate loans in domestic offices $378,738
Construction and development loans $52,612
Residential 1-4 family construction $17,054
Other construction, all land development and other land $35,558
Loans secured by nonfarm nonresidential properties $132,662
Nonfarm nonresidential secured by owner-occupied properties $63,977
Commercial real estate & other non-farm, non-residential $68,685
Multifamily residential real estate $29,842
1-4 family residential loans $158,879
Farmland loans $4,743
Loans held in foreign offices $0
Farm loans $1,570
Commercial and industrial loans $52,228
To non-U.S. addressees $0
Loans to individuals $54,198
Credit card loans $0
Related Plans $1,844
Consumer Auto Loans $32,561
Other loans to individuals $19,793
All other loans & leases $5,049
Loans to foreign governments and official institutions $0
Other loans $77
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $949
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $957
Non 1-4 family restructured loans & leases $759
Total loans and leases (foreign) $0

First Harrison Bank had $485,700,000 of loans outstanding in 2021. $378,738,000 of loans were in real estate loans. $52,612,000 of loans were in development loans. $29,842,000 of loans were in multifamily mortgage loans. $158,879,000 of loans were in 1-4 family mortgage loans. $1,570,000 of loans were in farm loans. $0 of loans were in credit card loans. $32,561,000 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 286 $55,235 $193,129
Nonfarm, nonresidential loans - <$100k 70 $3,234 $46,200
Nonfarm, nonresidential loans - $100-250k 111 $14,416 $129,874
Nonfarm, nonresidential loans - $250k-1MM 105 $37,585 $357,952
Commercial & Industrial, US addressed loans - <$1MM 613 $36,446 $59,455
Commercial & Industrial, US addressed loans - <$100k 434 $11,410 $26,290
Commercial & Industrial, US addressed loans - $100-250k 123 $10,894 $88,569
Commercial & Industrial, US addressed loans - $250k-1MM 56 $14,142 $252,536
Farmland loans - <$1MM 14 $2,410 $172,143
Farmland loans - <$100k 3 $180 $60,000
Farmland loans - $100-250k 6 $904 $150,667
Farmland loans - $250k-1MM 5 $1,326 $265,200
Agriculture operations loans - <$1MM 38 $1,569 $41,289
Agriculture operations loans - <$100k 32 $825 $25,781
Agriculture operations loans - $100-250k 5 $355 $71,000
Agriculture operations loans - $250k-1MM 1 $389 $389,000