Hoosier Heartland State Bank Mortgage Rates, Fees & Info

Crawfordsville, IN

LEI: 549300NZ54QGM0WNLC84

Tax ID: 35-0472900

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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

    Hoosier Heartland State Bank is a smaller bank specializing in Home Purchase and Refi loans. Hoosier Heartland State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Crawfordsville, Indianapolis, Lafayette, Terre Haute, and Chicago among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Hoosier Heartland State 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. Hoosier Heartland State 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.

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    Originations

    80

    Origination Dollar Volume (All Markets)

    $10,260,000

    Employee count

    53

    Awards

    Hoosier Heartland State Bank 30 Year Conventional Loans gold Hoosier Heartland State Bank 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
    Crawfordsville, IN (FHA|USDA|VA) 65 $8,425,000 $129,615 $2,038 4.74%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 7 $1,135,000 $162,143 $1,844 4.48%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 3 $315,000 $105,000 $1,820 4.21%
    TERRE HAUTE, IN (FHA|USDA|VA) 1 $155,000 $155,000 $2,121 4.13%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $115,000 $115,000 $2,217 5.00%
    Outside of Metro Areas 2 $60,000 $30,000 $1,839 5.08%
    Richmond, IN (FHA|USDA|VA) 1 $55,000 $55,000 $1,778 4.63%
    Hoosier Heartland State Bank's top markets include Crawfordsville, Indianapolis, Lafayette, Terre Haute, and Chicago among others.

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

    • Similar Lenders

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

    Hoosier Heartland State Bank
    Similarity Rank: 28
    TEACHERS CREDIT UNION
    Similarity Rank: 126
    GVC MORTGAGE, INC.
    Similarity Rank: 441
    Wolfe Financial, Inc
    Similarity Rank: 558
    UNIVERSITY LENDING GROUP, LLC
    Similarity Rank: 1000
    RUOFF MORTGAGE COMPANY, INC.
    Similarity Rank: 2068
    PNC Bank
    Similarity Rank: 4536
    QUICKEN LOANS, LLC
    Similarity Rank: 14848

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 80 $10,260,000 $128,250 $2,008 4.70%

    For 2018, Hoosier Heartland State Bank's most frequently originated type of loan was Conventional, with 80 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 46 $5,650,000 $122,826 $1,827 4.70%
    Refi 17 $2,825,000 $166,176 $1,589 4.61%
    Cash Out Refi 17 $1,785,000 $105,000 $2,906 4.78%

    For 2018, Hoosier Heartland State Bank's most frequently cited loan purpose was Home Purchase, with 46 originations. The 2nd most popular reason was Refi, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 55 $7,905,000 $143,727 $1,786 4.62%
    15 Year 16 $1,690,000 $105,625 $1,976 4.91%
    20 Year 6 $480,000 $80,000 $1,749 4.73%
    10 Year 2 $110,000 $55,000 $9,774 4.44%
    Other 1 $75,000 $75,000 $523 5.98%

    For 2018, Hoosier Heartland State Bank's most frequently cited loan duration was 30 Year, with 55 originations. The 2nd most popular length was 15 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 78 $10,060,000 $128,974
    $1k-2k 1 $115,000 $115,000

    Hoosier Heartland State Bank's average total fees were $1,786, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 78 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 64 $8,820,000 $137,813
    5-6% 10 $910,000 $91,000
    3-4% 3 $325,000 $108,333
    7-8% 2 $120,000 $60,000

    During 2018, Hoosier Heartland State Bank's average interest rate for loans was 4.62%, while their most frequently originated rate bucket for loans was 4-5%, with 64 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 42 $2,720,000 $64,762 $2,154 4.80%
    $100k-200k 20 $2,730,000 $136,500 $1,881 4.54%
    $200k-400k 17 $4,375,000 $257,353 $1,799 4.63%
    $400k-600k 1 $435,000 $435,000 $2,084 4.88%

    2018 saw Hoosier Heartland State Bank place emphasis on $100,000 or less loans with 42 originations, totaling $2,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 22 $1,590,000 $72,273 $1,761 4.86%
    $50k-75k 18 $1,710,000 $95,000 $1,786 4.51%
    $75k-100k 15 $2,595,000 $173,000 $2,883 4.67%
    $100k-150k 11 $2,065,000 $187,727 $1,867 4.54%
    $150k-250k 8 $1,490,000 $186,250 $1,834 4.85%
    $250k+ 1 $365,000 $365,000 $1,692 4.66%

    Hoosier Heartland State Bank lent most frequently to those with incomes in the $50k or less range, with 22 originations. The second most popular income band? $50k-75k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 25 $2,405,000 $96,200 $1,694 4.94%
    <20% 19 $2,475,000 $130,263 $1,835 4.51%
    30-36% 17 $2,465,000 $145,000 $2,804 4.65%
    36% 4 $680,000 $170,000 $1,819 4.66%
    39% 3 $425,000 $141,667 $1,591 4.46%
    38% 3 $435,000 $145,000 $1,855 4.67%
    37% 2 $640,000 $320,000 $2,008 4.96%
    41% 2 $330,000 $165,000 $2,393 4.19%
    47% 1 $85,000 $85,000 $0 0.00%
    48% 1 $75,000 $75,000 $1,693 4.92%
    50-60% 1 $85,000 $85,000 $1,969 5.10%
    42% 1 $75,000 $75,000 $1,909 4.25%
    40% 1 $85,000 $85,000 $1,748 4.50%

    Hoosier Heartland State Bank lent most frequently to those with DTI ratios of 20-30%, with 25 originations. The next most common DTI ratio? <20%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 76 $9,970,000 $131,184 $1,802 4.71%
    Not provided 3 $205,000 $68,333 $7,157 4.38%
    American Indian 1 $85,000 $85,000 $1,969 5.10%

    Approval Rates

    Total approvals of all applications
    82.26%

    Hoosier Heartland State Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.00%

    Hoosier Heartland State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 80 $10,260,000 $128,250

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $65,000 $65,000
    Single Family (1-4 Units):Site-Built 79 $10,195,000 $129,051

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $620,000 $62,000 $1,650 4.73%
    40-60% 15 $1,285,000 $85,667 $1,808 4.51%
    60-80% 29 $4,415,000 $152,241 $2,383 4.66%
    80-100% 26 $3,940,000 $151,538 $1,836 4.84%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Hoosier Heartland State Bank 100 N. Main Street New Ross, IN 47968 Full Service B&M $24,577
    Hoosier Heartland State Bank 100 North Meridan St Linden, IN 47955 Full Service B&M $33,210
    Hoosier Heartland State Bank 1400 Darlington Avenue Crawfordsville, IN 47933 Full Service B&M $29,241
    Hoosier Heartland State Bank 1661 Us Hwy 231 S Crawfordsville, IN 47933 Full Service B&M $64,468
    Hoosier Heartland State Bank Indiana And Washington Streets Roachdale, IN 46172 Full Service B&M $11,412
    Hoosier Heartland State Bank Main And Franklin Streets Ladoga, IN 47954 Full Service B&M $16,496

    For 2018, Hoosier Heartland State Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,315
    Net interest income $7,453
    Total noninterest income $1,445
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $482
    Trading account gains and fees $0
    Additional Noninterest Income $963
    Pre-tax net operating income $2,266
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,644
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,644
    Minority interest net income $0
    Net income $1,644
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,644

    Hoosier Heartland State Bank's gross interest income from loans was $8,315,000.
    Hoosier Heartland State Bank's net interest income from loans was $7,453,000.
    Hoosier Heartland State Bank's fee based income from loans was $482,000.
    Hoosier Heartland State Bank's net income from loans was $1,644,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $862
    Provision for credit losses $200
    Total noninterest expense $6,432
    Salaries and employee benefits $3,178
    Premises and equipment expense $566
    Additional noninterest expense $2,688
    Applicable income taxes $622
    Net charge-offs $29
    Cash dividends $887

    Hoosier Heartland State Bank's interest expense for loans was $862,000.
    Hoosier Heartland State Bank's payroll and benefits expense were $3,178,000.
    Hoosier Heartland State Bank's property, plant and equipment expenses $566,000.

    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 2.0%
    HELOC loans 0.0%
    All other family 3.0%
    Commercial & industrial loans 3.0%
    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 $178,103
    Deposits held in domestic offices $178,103
    Deposits by Individuals, partnerships, and corporations $115,780
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $62,323
    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 $71,206
    Demand deposits $29,319
    Nontransaction accounts $106,897
    Money market deposit accounts (MMDAs) $57,595
    Other savings deposits (excluding MMDAs) $25,356
    Total time deposits $23,946
    Total time and savings deposits $148,784
    Noninterest-bearing deposits $29,472
    Interest-bearing deposits $148,631
    Retail deposits $175,763
    IRAs and Keogh plan accounts $4,705
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $198,942
    Cash & Balances due from depository institutions $4,218
    Interest-bearing balances $1,460
    Total securities $61,636
    Federal funds sold & reverse repurchase $14,656
    Net loans and leases $107,109
    Loan and leases loss allowance $1,678
    Trading account assets $0
    Bank premises and fixed assets $2,979
    Other real estate owned $31
    Goodwill and other intangibles $482
    All other assets $7,831

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $198,942
    Total Liabilities $182,947
    Total deposits $178,103
    Interest-bearing deposits $148,631
    Deposits held in domestic offices $178,103
    % insured (estimated) $65
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $2,900
    Subordinated debt $0
    All other liabilities $1,944

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $107,109
    Loan and leases loss allowance $1,678
    Total loans and leases (domestic) $108,787
    All real estate loans $83,628
    Real estate loans in domestic offices $83,628
    Construction and development loans $1,293
    Residential 1-4 family construction $1,293
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $14,173
    Nonfarm nonresidential secured by owner-occupied properties $5,372
    Commercial real estate & other non-farm, non-residential $8,801
    Multifamily residential real estate $1,543
    1-4 family residential loans $31,342
    Farmland loans $35,277
    Loans held in foreign offices $0
    Farm loans $7,076
    Commercial and industrial loans $7,258
    To non-U.S. addressees $0
    Loans to individuals $8,422
    Credit card loans $922
    Related Plans $24
    Consumer Auto Loans $2,910
    Other loans to individuals $4,566
    All other loans & leases $2,404
    Loans to foreign governments and official institutions $0
    Other loans $28
    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 $1,431
    Non 1-4 family restructured loans & leases $1,367
    Total loans and leases (foreign) $0

    Hoosier Heartland State Bank had $107,109,000 of loans outstanding in 2018. $83,628,000 of loans were in real estate loans. $1,293,000 of loans were in development loans. $1,543,000 of loans were in multifamily mortgage loans. $31,342,000 of loans were in 1-4 family mortgage loans. $7,076,000 of loans were in farm loans. $922,000 of loans were in credit card loans. $2,910,000 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 89 $14,173 $159,247
    Nonfarm, nonresidential loans - <$100k 44 $2,019 $45,886
    Nonfarm, nonresidential loans - $100-250k 22 $2,491 $113,227
    Nonfarm, nonresidential loans - $250k-1MM 23 $9,663 $420,130
    Commercial & Industrial, US addressed loans - <$1MM 114 $7,258 $63,667
    Commercial & Industrial, US addressed loans - <$100k 81 $1,965 $24,259
    Commercial & Industrial, US addressed loans - $100-250k 22 $2,368 $107,636
    Commercial & Industrial, US addressed loans - $250k-1MM 11 $2,925 $265,909
    Farmland loans - <$1MM 177 $35,276 $199,299
    Farmland loans - <$100k 67 $2,556 $38,149
    Farmland loans - $100-250k 50 $6,230 $124,600
    Farmland loans - $250k-1MM 60 $26,490 $441,500
    Agriculture operations loans - <$1MM 73 $7,076 $96,932
    Agriculture operations loans - <$100k 46 $1,109 $24,109
    Agriculture operations loans - $100-250k 15 $1,183 $78,867
    Agriculture operations loans - $250k-1MM 12 $4,784 $398,667