Colfax Banking Company Mortgage Rates, Fees & Info

Colfax, LA

LEI: 549300MEK4ETDCVHFB89

Tax ID: 72-0156480

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

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Colfax Banking Company is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Colfax Banking Company has a high proportion of conventional loans. Their top markets by origination volume include: Alexandria, Natchitoches, and Fort Polk South among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Colfax Banking Company has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

    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.


    Originations

    80

    Origination Dollar Volume (All Markets)

    $9,610,000

    Employee count

    37

    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
    ALEXANDRIA, LA (FHA|USDA|VA) 70 $8,290,000 $118,429 $0 0.00%
    Outside of Metro Areas 7 $1,085,000 $155,000 $0 0.00%
    Natchitoches, LA (FHA|USDA|VA) 2 $160,000 $80,000 $0 0.00%
    Fort Polk South, LA (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Colfax Banking Company's top markets include Alexandria, Natchitoches, and Fort Polk South among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 76 $8,900,000 $117,105 $0 0.00%
    USDA 4 $710,000 $177,500 $0 0.00%

    For 2021, Colfax Banking Company's most frequently originated type of loan was Conventional, with 76 originations. Their 2nd most popular type was USDA, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 36 $4,240,000 $117,778 $0 0.00%
    Refi 25 $2,985,000 $119,400 $0 0.00%
    Cash Out Refi 18 $2,340,000 $130,000 $0 0.00%
    Other 1 $45,000 $45,000 $0 0.00%

    For 2021, Colfax Banking Company's most frequently cited loan purpose was Home Purchase, with 36 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 80 $9,610,000 $120,125 $0 0.00%

    For 2021, Colfax Banking Company's most frequently cited loan duration was Other, with 80 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 49 $2,785,000 $56,837 $0 0.00%
    $100k-200k 22 $3,230,000 $146,818 $0 0.00%
    $200k-400k 6 $1,580,000 $263,333 $0 0.00%
    $600k-1MM 3 $2,015,000 $671,667 $0 0.00%

    2021 saw Colfax Banking Company place emphasis on $100,000 or less loans with 49 originations, totaling $2,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 24 $1,720,000 $71,667 $0 0.00%
    $50k-75k 22 $1,770,000 $80,455 $0 0.00%
    $75k-100k 12 $1,940,000 $161,667 $0 0.00%
    $100k-150k 9 $1,015,000 $112,778 $0 0.00%
    $150k-250k 1 $85,000 $85,000 $0 0.00%
    $250k+ 1 $655,000 $655,000 $0 0.00%

    Colfax Banking Company lent most frequently to those with incomes in the $50k or less range, with 24 originations. The second most popular income band? $50k-75k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 80 $9,610,000 $120,125 $0 0.00%

    Colfax Banking Company lent most frequently to those with DTI ratios of Exempt%, with 80 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 72 $7,590,000 $105,417 $0 0.00%
    Not applicable 6 $1,730,000 $288,333 $0 0.00%
    Black 2 $290,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.63%

    Colfax Banking Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.75%

    Colfax Banking Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 80 $9,610,000 $120,125

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    80 $9,610,000 $120,125

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Colfax Banking Company 21700 U.S. Highway 167 Dry Prong, LA 71423 Full Service B&M $21,935
    Colfax Banking Company 3780 Monroe Highway Pineville, LA 71360 Full Service B&M $4,775
    Colfax Banking Company 625 Eighth Street Colfax, LA 71417 Full Service B&M $84,315
    Colfax Banking Company Highway 167 And Fifth Street Dry Prong, LA 71423 Full Service B&M $8,066
    Colfax Banking Company U.S. Highway 165 Pollock, LA 71467 Full Service B&M $14,944

    For 2021, Colfax Banking Company had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $4,760
    Net interest income $4,385
    Total noninterest income $2,635
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $179
    Trading account gains and fees $0
    Additional Noninterest Income $2,456
    Pre-tax net operating income $2,915
    Securities gains (or losses, -) $130
    Income before extraordinary items $3,045
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,045
    Minority interest net income $0
    Net income $3,045
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,915

    Colfax Banking Company's gross interest income from loans was $4,760,000.
    Colfax Banking Company's net interest income from loans was $4,385,000.
    Colfax Banking Company's fee based income from loans was $179,000.
    Colfax Banking Company's net income from loans was $3,045,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $375
    Provision for credit losses $164
    Total noninterest expense $3,941
    Salaries and employee benefits $2,303
    Premises and equipment expense $536
    Additional noninterest expense $1,102
    Applicable income taxes $0
    Net charge-offs $12
    Cash dividends $1,190

    Colfax Banking Company's interest expense for loans was $375,000.
    Colfax Banking Company's payroll and benefits expense were $2,303,000.
    Colfax Banking Company's property, plant and equipment expenses $536,000.

    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 $139,895
    Deposits held in domestic offices $139,895
    Deposits by Individuals, partnerships, and corporations $91,470
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $48,425
    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 $65,947
    Demand deposits $42,053
    Nontransaction accounts $73,948
    Money market deposit accounts (MMDAs) $5,989
    Other savings deposits (excluding MMDAs) $24,439
    Total time deposits $43,520
    Total time and savings deposits $97,842
    Noninterest-bearing deposits $42,053
    Interest-bearing deposits $97,842
    Retail deposits $109,597
    IRAs and Keogh plan accounts $5,406
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $164,266
    Cash & Balances due from depository institutions $11,230
    Interest-bearing balances $7,497
    Total securities $80,328
    Federal funds sold & reverse repurchase $6,425
    Net loans and leases $61,615
    Loan and leases loss allowance $398
    Trading account assets $0
    Bank premises and fixed assets $2,707
    Other real estate owned $220
    Goodwill and other intangibles $0
    All other assets $1,741

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $164,266
    Total Liabilities $150,112
    Total deposits $139,895
    Interest-bearing deposits $97,842
    Deposits held in domestic offices $139,895
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $10,000
    Subordinated debt $0
    All other liabilities $217

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $61,615
    Loan and leases loss allowance $398
    Total loans and leases (domestic) $62,013
    All real estate loans $54,837
    Real estate loans in domestic offices $54,837
    Construction and development loans $9,931
    Residential 1-4 family construction $5,971
    Other construction, all land development and other land $3,960
    Loans secured by nonfarm nonresidential properties $15,377
    Nonfarm nonresidential secured by owner-occupied properties $8,187
    Commercial real estate & other non-farm, non-residential $7,190
    Multifamily residential real estate $0
    1-4 family residential loans $25,069
    Farmland loans $4,460
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $3,946
    To non-U.S. addressees $0
    Loans to individuals $3,084
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,036
    Other loans to individuals $2,048
    All other loans & leases $147
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Colfax Banking Company had $61,615,000 of loans outstanding in 2021. $54,837,000 of loans were in real estate loans. $9,931,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $25,069,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,036,000 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 71 $9,374 $132,028
    Nonfarm, nonresidential loans - <$100k 33 $726 $22,000
    Nonfarm, nonresidential loans - $100-250k 23 $2,828 $122,957
    Nonfarm, nonresidential loans - $250k-1MM 15 $5,820 $388,000
    Commercial & Industrial, US addressed loans - <$1MM 36 $3,946 $109,611
    Commercial & Industrial, US addressed loans - <$100k 22 $1,071 $48,682
    Commercial & Industrial, US addressed loans - $100-250k 9 $1,189 $132,111
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $1,686 $337,200
    Farmland loans - <$1MM 108 $4,459 $41,287
    Farmland loans - <$100k 95 $2,450 $25,789
    Farmland loans - $100-250k 11 $1,316 $119,636
    Farmland loans - $250k-1MM 2 $693 $346,500