First Harrison Bank Mortgage Rates, Fees & Info

Corydon, IN

LEI: 549300LGEXCX325O8C49

Tax ID: 35-0634720

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

Review & Overview

First Harrison Bank is a smaller bank specializing in Home Purchase loans. First Harrison Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Louisville, Bardstown, Scottsburg, Indianapolis, and Madison among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Harrison Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Harrison Bank 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
Home Equity Line of Credit (HELOC)	6.27%	4/21/24
30 Year Conventional Purchase	6.64%	4/21/24
30 Year Conventional Refi	6.76%	4/21/24
30 Year Cash-out Refi	6.91%	4/21/24
30 Year FHA Purchase	7.30%	4/21/24
30 Year FHA Refi	7.10%	4/21/24
30 Year VA Refi	6.27%	4/21/24
30 Year USDA Purchase	7.09%	4/21/24
15 Year Conventional Purchase	6.49%	4/21/24
15 Year Conventional Refi	6.16%	4/21/24
15 Year Cash-out Refi	6.16%	4/21/24
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.

First Harrison Bank Mortgage Calculator

Purchase Price:

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% Deposit:

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

This is not an official calculator from First Harrison Bank. 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

524

Origination Dollar Volume (All Markets)

$69,220,000

Employee count

187

Awards

First Harrison Bank 30 Year Conventional Loans silver

Show all (4) 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
LOUISVILLE, KY (FHA\|USDA\|VA)	475	$64,055,000	$134,853	$1,870	4.94%
Outside of Metro Areas	31	$3,145,000	$101,452	$1,495	5.00%
Bardstown, KY (FHA\|USDA\|VA)	6	$780,000	$130,000	$2,251	5.25%
Scottsburg, IN (FHA\|USDA\|VA)	7	$715,000	$102,143	$1,983	5.11%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	1	$215,000	$215,000	$2,351	4.75%
Madison, IN (FHA\|USDA\|VA)	1	$175,000	$175,000	$2,152	6.75%
ELIZABETHTOWN-FORT KNOX, KY (FHA\|USDA\|VA)	3	$135,000	$45,000	$799	5.83%

First Harrison Bank's top markets include Louisville, Bardstown, Scottsburg, Indianapolis, and Madison among others.

Their top states include:

Indiana (FHA|USDA|VA)

Kentucky (FHA|USDA|VA)

Similar Lenders

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

The Peoples Bank
Similarity Rank: 120

Guardian Savings Bank, A Federal Savings Bank
Similarity Rank: 162

COMMONWEALTH
Similarity Rank: 345

First Harrison Bank
Similarity Rank: 357

CLASS ACT FEDERAL CREDIT UNION
Similarity Rank: 357

Abound Federal Credit Union
Similarity Rank: 375

Peoples Bank
Similarity Rank: 455

PARK COMMUNITY CREDIT UNION, INC.
Similarity Rank: 468

The New Washington State Bank
Similarity Rank: 650

Victory Community Bank
Similarity Rank: 714

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	507	$67,125,000	$132,396	$1,789	4.97%
USDA	15	$1,765,000	$117,667	$3,236	4.53%
FHA	1	$125,000	$125,000	$3,960	3.88%
VA	1	$205,000	$205,000	$2,077	3.95%

For 2018, First Harrison Bank's most frequently originated type of loan was Conventional, with 507 originations. Their 2nd most popular type was USDA, with 15 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	270	$44,300,000	$164,074	$2,207	4.75%
Cash Out Refi	122	$12,060,000	$98,852	$1,763	5.12%
Refi	91	$11,255,000	$123,681	$1,688	5.11%
Home Improvement	21	$995,000	$47,381	$342	5.75%
Other	20	$610,000	$30,500	$315	5.19%

For 2018, First Harrison Bank's most frequently cited loan purpose was Home Purchase, with 270 originations. The 2nd most popular reason was Cash Out Refi, with 122 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	257	$41,115,000	$159,981	$2,234	4.74%
15 Year	78	$8,760,000	$112,308	$2,191	4.76%
10 Year	61	$3,315,000	$54,344	$682	5.71%
20 Year	60	$8,560,000	$142,667	$2,056	4.91%
5 Year	40	$2,370,000	$59,250	$363	5.16%
Other	24	$4,730,000	$197,083	$915	5.61%
3 Year	3	$275,000	$91,667	$272	5.75%
1 Year	1	$95,000	$95,000	$0	6.25%

For 2018, First Harrison Bank's most frequently cited loan duration was 30 Year, with 257 originations. The 2nd most popular length was 15 Year, with 78 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	413	$51,035,000	$123,571
$1k-2k	27	$5,305,000	$196,481
$2k-3k	2	$350,000	$175,000
$3k-4k	1	$205,000	$205,000
$5k+	1	$295,000	$295,000

First Harrison Bank's average total fees were $2,234, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 413 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	300	$45,340,000	$151,133
5-6%	127	$12,845,000	$101,142
3-4%	46	$8,480,000	$184,348
6-7%	34	$1,750,000	$51,471
7-8%	12	$530,000	$44,167
Over 8%	3	$135,000	$45,000
<2.5%	1	$125,000	$125,000

During 2018, First Harrison Bank's average interest rate for loans was 4.74%, while their most frequently originated rate bucket for loans was 4-5%, with 300 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	249	$13,875,000	$55,723	$1,313	5.32%
$100k-200k	166	$23,060,000	$138,916	$2,194	4.64%
$200k-400k	97	$24,335,000	$250,876	$2,367	4.64%
$400k-600k	9	$4,015,000	$446,111	$2,778	4.39%
$600k-1MM	2	$1,410,000	$705,000	$3,012	4.25%
$1MM+	1	$2,525,000	$2,525,000	$0	4.95%

2018 saw First Harrison Bank place emphasis on $100,000 or less loans with 249 originations, totaling $13,875,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	186	$15,570,000	$83,710	$1,702	5.03%
$50k-75k	117	$13,605,000	$116,282	$1,899	4.95%
$100k-150k	81	$14,055,000	$173,519	$2,021	4.84%
$75k-100k	72	$10,180,000	$141,389	$1,942	4.87%
$150k-250k	22	$4,280,000	$194,545	$1,800	4.89%
$250k+	8	$2,330,000	$291,250	$2,801	4.76%

First Harrison Bank lent most frequently to those with incomes in the $50k or less range, with 186 originations. The second most popular income band? $50k-75k, with 117 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	129	$13,955,000	$108,178	$1,773	4.94%
30-36%	104	$13,360,000	$128,462	$1,906	5.05%
<20%	60	$6,700,000	$111,667	$1,520	4.83%
38%	20	$2,490,000	$124,500	$1,944	4.88%
37%	20	$2,610,000	$130,500	$1,931	5.09%
42%	17	$2,625,000	$154,412	$2,159	4.83%
50-60%	17	$2,645,000	$155,588	$2,065	4.76%
>60%	16	$1,400,000	$87,500	$1,224	5.79%
40%	16	$1,930,000	$120,625	$2,266	4.59%
45%	14	$2,450,000	$175,000	$2,134	4.95%
39%	13	$2,025,000	$155,769	$1,791	5.05%
36%	13	$1,545,000	$118,846	$1,799	4.87%
41%	10	$1,210,000	$121,000	$1,996	4.68%
43%	8	$900,000	$112,500	$1,789	4.75%
46%	7	$1,015,000	$145,000	$2,010	4.84%
44%	7	$975,000	$139,286	$2,217	4.66%
48%	6	$1,110,000	$185,000	$2,102	4.48%
49%	6	$980,000	$163,333	$2,476	4.71%
47%	4	$280,000	$70,000	$1,204	5.00%

First Harrison Bank lent most frequently to those with DTI ratios of 20-30%, with 129 originations. The next most common DTI ratio? 30-36%, with 104 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	482	$59,830,000	$124,129	$1,845	4.94%
Not applicable	30	$7,940,000	$264,667	$2,017	5.12%
Black	4	$710,000	$177,500	$2,063	4.78%
American Indian	2	$240,000	$120,000	$2,350	5.06%
Asian	2	$210,000	$105,000	$2,019	4.56%
Not provided	3	$205,000	$68,333	$989	5.83%
Native Hawaiian or Islander	1	$85,000	$85,000	$1,818	4.50%

Approval Rates

Total approvals of all applications
85.83%

First Harrison Bank has an average approval rate.

Pick Rate

Approvals leading to origination
84.16%

First Harrison Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	524	$69,220,000	$132,099

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	11	$5,925,000	$538,636
Single Family (1-4 Units):Manufactured	66	$4,440,000	$67,273
Single Family (1-4 Units):Site-Built	447	$58,855,000	$131,667

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	59	$3,815,000	$64,661	$1,055	5.56%
40-60%	76	$8,580,000	$112,895	$1,835	4.92%
60-80%	210	$34,130,000	$162,524	$2,164	4.90%
80-100%	132	$20,690,000	$156,742	$2,272	4.65%
Over 100%	1	$45,000	$45,000	$2,123	5.00%
Under 20%	46	$1,960,000	$42,609	$443	5.36%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Problem with a credit reporting company's investigation into an existing problem	1	7.1%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	5	35.7%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	3	21.4%
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	7.1%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Incorrect information on your report	1	7.1%

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	$22,425
First Harrison Bank	130 South Buckman Shepherdsville, KY 40165	Full Service B&M	$8,957
First Harrison Bank	1312 Jackson Street Salem, IN 47167	Full Service B&M	$47,558
First Harrison Bank	140 South Poplar Street Lebanon Junction, KY 40150	Full Service B&M	$23,991
First Harrison Bank	1612 Highway 44 East Shepherdsville, KY 40165	Full Service B&M	$146,422
First Harrison Bank	220 Federal Dr Nw Corydon, IN 47112	Full Service B&M	$150,405
First Harrison Bank	2420 Barron Ave Ne Lanesville, IN 47136	Full Service B&M	$22,600
First Harrison Bank	2754 Allison Lane Jeffersonville, IN 47130	Full Service B&M	$16,373
First Harrison Bank	3131 Grantline Road New Albany, IN 47150	Full Service B&M	$36,019
First Harrison Bank	391 Old Capitol Plaza Corydon, IN 47112	Full Service B&M	$10,291
First Harrison Bank	4303 Charlestown Road New Albany, IN 47150	Full Service B&M	$33,737
First Harrison Bank	5100 Hwy 64 Georgetown, IN 47122	Full Service B&M	$25,406
First Harrison Bank	550 John Harper Highway Shepherdsville, KY 40165	Full Service B&M	$14,940
First Harrison Bank	5609 Williamsburg Station Rd Floyds Knobs, IN 47119	Full Service B&M	$19,346
First Harrison Bank	710 Main Street Palmyra, IN 47164	Full Service B&M	$66,009
First Harrison Bank	735 Hwy 62 Charlestown, IN 47111	Full Service B&M	$846
First Harrison Bank	8095 Highway 135 Ne New Salisbury, IN 47161	Full Service B&M	$29,073
First Harrison Bank	9849 Highway 150 Greenville, IN 47124	Full Service B&M	$30,136

For 2018, First Harrison Bank had 18 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$28,677
Net interest income	$27,047
Total noninterest income	$6,608
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,059
Trading account gains and fees	$0
Additional Noninterest Income	$4,549
Pre-tax net operating income	$10,560
Securities gains (or losses, -)	$-95
Income before extraordinary items	$8,867
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$8,867
Minority interest net income	$0
Net income	$8,867
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$8,947

First Harrison Bank's gross interest income from loans was $28,677,000.
First Harrison Bank's net interest income from loans was $27,047,000.
First Harrison Bank's fee based income from loans was $2,059,000.
First Harrison Bank's net income from loans was $8,867,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,630
Provision for credit losses	$1,168
Total noninterest expense	$21,927
Salaries and employee benefits	$11,522
Premises and equipment expense	$2,129
Additional noninterest expense	$8,276
Applicable income taxes	$1,598
Net charge-offs	$735
Cash dividends	$3,600

First Harrison Bank's interest expense for loans was $1,630,000.
First Harrison Bank's payroll and benefits expense were $11,522,000.
First Harrison Bank's property, plant and equipment expenses $2,129,000.

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	1.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	1.0%
HELOC loans	0.0%
All other family	1.0%
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	$704,998
Deposits held in domestic offices	$704,998
Deposits by Individuals, partnerships, and corporations	$586,430
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$118,568
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	$87,760
Demand deposits	$46,400
Nontransaction accounts	$617,238
Money market deposit accounts (MMDAs)	$60,691
Other savings deposits (excluding MMDAs)	$487,724
Total time deposits	$68,823
Total time and savings deposits	$658,598
Noninterest-bearing deposits	$143,794
Interest-bearing deposits	$561,204
Retail deposits	$700,992
IRAs and Keogh plan accounts	$38,299
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$790,026
Cash & Balances due from depository institutions	$43,211
Interest-bearing balances	$26,081
Total securities	$261,842
Federal funds sold & reverse repurchase	$3,153
Net loans and leases	$437,109
Loan and leases loss allowance	$4,065
Trading account assets	$0
Bank premises and fixed assets	$14,364
Other real estate owned	$3,142
Goodwill and other intangibles	$7,437
All other assets	$19,768

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$790,026
Total Liabilities	$710,620
Total deposits	$704,998
Interest-bearing deposits	$561,204
Deposits held in domestic offices	$704,998
% insured (estimated)	$77
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$5,622

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$437,109
Loan and leases loss allowance	$4,065
Total loans and leases (domestic)	$441,174
All real estate loans	$347,547
Real estate loans in domestic offices	$347,547
Construction and development loans	$48,049
Residential 1-4 family construction	$18,028
Other construction, all land development and other land	$30,021
Loans secured by nonfarm nonresidential properties	$101,997
Nonfarm nonresidential secured by owner-occupied properties	$41,854
Commercial real estate & other non-farm, non-residential	$60,143
Multifamily residential real estate	$29,744
1-4 family residential loans	$162,436
Farmland loans	$5,321
Loans held in foreign offices	$0
Farm loans	$1,177
Commercial and industrial loans	$34,856
To non-U.S. addressees	$0
Loans to individuals	$52,953
Credit card loans	$1,948
Related Plans	$3,245
Consumer Auto Loans	$34,453
Other loans to individuals	$13,307
All other loans & leases	$4,642
Loans to foreign governments and official institutions	$0
Other loans	$114
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$2,050
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$703
Non 1-4 family restructured loans & leases	$408
Total loans and leases (foreign)	$0

First Harrison Bank had $437,109,000 of loans outstanding in 2018. $347,547,000 of loans were in real estate loans. $48,049,000 of loans were in development loans. $29,744,000 of loans were in multifamily mortgage loans. $162,436,000 of loans were in 1-4 family mortgage loans. $1,177,000 of loans were in farm loans. $1,948,000 of loans were in credit card loans. $34,453,000 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	266	$51,755	$194,568
Nonfarm, nonresidential loans - <$100k	74	$3,695	$49,932
Nonfarm, nonresidential loans - $100-250k	98	$12,496	$127,510
Nonfarm, nonresidential loans - $250k-1MM	94	$35,564	$378,340
Commercial & Industrial, US addressed loans - <$1MM	519	$28,605	$55,116
Commercial & Industrial, US addressed loans - <$100k	396	$10,205	$25,770
Commercial & Industrial, US addressed loans - $100-250k	78	$8,939	$114,603
Commercial & Industrial, US addressed loans - $250k-1MM	45	$9,461	$210,244
Farmland loans - <$1MM	20	$3,143	$157,150
Farmland loans - <$100k	6	$294	$49,000
Farmland loans - $100-250k	8	$1,016	$127,000
Farmland loans - $250k-1MM	6	$1,833	$305,500
Agriculture operations loans - <$1MM	30	$1,177	$39,233
Agriculture operations loans - <$100k	24	$407	$16,958
Agriculture operations loans - $100-250k	5	$558	$111,600
Agriculture operations loans - $250k-1MM	1	$212	$212,000