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, Cash Out Refi, and Refi loans. Hoosier Heartland State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Crawfordsville, Indianapolis, and Lafayette among others. We have data for 4 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

    104

    Origination Dollar Volume (All Markets)

    $15,010,000

    Employee count

    62

    Awards

    Hoosier Heartland State Bank 30 Year Conventional Loans gold Hoosier Heartland State Bank 30 Year Conventional Loans gold Hoosier Heartland State Bank 30 Year Conventional Loans gold
    Show all (3) 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) 86 $12,300,000 $143,023 $1,833 4.34%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 12 $2,010,000 $167,500 $2,332 4.19%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 3 $365,000 $121,667 $1,405 4.91%
    Outside of Metro Areas 3 $335,000 $111,667 $1,888 3.87%
    Hoosier Heartland State Bank's top markets include Crawfordsville, Indianapolis, and Lafayette among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • (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: 8
    TEACHERS CREDIT UNION
    Similarity Rank: 357
    GVC MORTGAGE, INC.
    Similarity Rank: 910
    UNIVERSITY LENDING GROUP, LLC
    Similarity Rank: 1106
    RUOFF MORTGAGE COMPANY, INC.
    Similarity Rank: 2320
    Wolfe Financial, Inc
    Similarity Rank: 2415
    PNC Bank
    Similarity Rank: 6430
    QUICKEN LOANS, LLC
    Similarity Rank: 19488

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 104 $15,010,000 $144,327 $1,881 4.33%

    For 2019, Hoosier Heartland State Bank's most frequently originated type of loan was Conventional, with 104 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 33 $4,205,000 $127,424 $1,797 4.18%
    Cash Out Refi 33 $4,175,000 $126,515 $2,075 3.86%
    Refi 31 $5,595,000 $180,484 $1,822 4.60%
    Other 7 $1,035,000 $147,857 $714 6.01%

    For 2019, Hoosier Heartland State Bank's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Cash Out Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 60 $8,980,000 $149,667 $1,866 4.03%
    15 Year 20 $2,460,000 $123,000 $1,835 4.28%
    20 Year 14 $2,790,000 $199,286 $2,385 4.39%
    10 Year 5 $135,000 $27,000 $1,273 6.53%
    Other 4 $340,000 $85,000 $1,397 5.81%
    1 Year 1 $305,000 $305,000 $0 5.30%

    For 2019, Hoosier Heartland State Bank's most frequently cited loan duration was 30 Year, with 60 originations. The 2nd most popular length was 15 Year, with 20 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 84 $10,730,000 $127,738
    $1k-2k 6 $800,000 $133,333
    $2k-3k 1 $385,000 $385,000

    Hoosier Heartland State Bank's average total fees were $1,866, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 84 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 56 $7,660,000 $136,786
    4-5% 31 $4,195,000 $135,323
    5-6% 9 $2,485,000 $276,111
    6-7% 4 $540,000 $135,000
    7-8% 3 $95,000 $31,667
    Over 8% 1 $35,000 $35,000

    During 2019, Hoosier Heartland State Bank's average interest rate for loans was 4.03%, while their most frequently originated rate bucket for loans was 3-4%, with 56 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 43 $5,965,000 $138,721 $1,945 4.04%
    $100,000 or less 38 $2,290,000 $60,263 $1,719 4.57%
    $200k-400k 19 $4,855,000 $255,526 $2,073 4.21%
    $400k-600k 3 $1,255,000 $418,333 $0 5.85%
    $600k-1MM 1 $645,000 $645,000 $0 5.25%

    2019 saw Hoosier Heartland State Bank place emphasis on $100k-200k loans with 43 originations, totaling $5,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 24 $2,880,000 $120,000 $1,805 4.09%
    $100k-150k 23 $3,945,000 $171,522 $1,984 4.12%
    $50k-75k 21 $2,395,000 $114,048 $1,887 4.71%
    $50k or less 19 $1,865,000 $98,158 $1,840 3.94%
    $150k-250k 5 $725,000 $145,000 $2,101 3.94%
    $250k+ 3 $845,000 $281,667 $1,983 4.36%

    Hoosier Heartland State Bank lent most frequently to those with incomes in the $75k-100k range, with 24 originations. The second most popular income band? $100k-150k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 34 $4,360,000 $128,235 $1,888 4.04%
    30-36% 21 $2,655,000 $126,429 $1,879 4.10%
    <20% 21 $2,625,000 $125,000 $1,853 4.39%
    36% 3 $445,000 $148,333 $1,728 4.76%
    37% 3 $515,000 $171,667 $2,192 4.04%
    50-60% 3 $525,000 $175,000 $2,459 5.67%
    >60% 2 $470,000 $235,000 $1,872 4.68%
    38% 2 $340,000 $170,000 $1,897 4.06%
    39% 2 $250,000 $125,000 $1,934 3.68%
    41% 2 $210,000 $105,000 $1,567 4.13%
    42% 2 $220,000 $110,000 $1,408 3.87%
    40% 1 $265,000 $265,000 $1,366 3.75%

    Hoosier Heartland State Bank lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $9,315,000 $127,603 $1,850 4.18%
    Not provided 23 $3,565,000 $155,000 $1,973 4.30%
    Not applicable 8 $2,130,000 $266,250 $0 5.82%

    Approval Rates

    Total approvals of all applications
    88.03%

    Hoosier Heartland State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.81%

    Hoosier Heartland State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 104 $15,010,000 $144,327

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $1,095,000 $365,000
    Single Family (1-4 Units):Manufactured 1 $105,000 $105,000
    Single Family (1-4 Units):Site-Built 100 $13,810,000 $138,100

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $605,000 $67,222 $1,781 4.17%
    40-60% 13 $2,375,000 $182,692 $2,294 4.44%
    60-80% 50 $7,730,000 $154,600 $1,934 4.07%
    80-100% 26 $3,560,000 $136,923 $1,811 4.30%
    Under 20% 6 $740,000 $123,333 $642 6.59%

    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 $25,913
    Hoosier Heartland State Bank 100 North Meridan St Linden, IN 47955 Full Service B&M $33,433
    Hoosier Heartland State Bank 1400 Darlington Avenue Crawfordsville, IN 47933 Full Service B&M $29,497
    Hoosier Heartland State Bank 1661 Us Hwy 231 S Crawfordsville, IN 47933 Full Service B&M $69,085
    Hoosier Heartland State Bank Indiana And Washington Streets Roachdale, IN 46172 Full Service B&M $11,587
    Hoosier Heartland State Bank Main And Franklin Streets Ladoga, IN 47954 Full Service B&M $16,570

    For 2019, Hoosier Heartland State Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,852
    Net interest income $7,618
    Total noninterest income $1,502
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $512
    Trading account gains and fees $0
    Additional Noninterest Income $990
    Pre-tax net operating income $1,820
    Securities gains (or losses, -) $156
    Income before extraordinary items $1,974
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,974
    Minority interest net income $0
    Net income $1,974
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,818

    Hoosier Heartland State Bank's gross interest income from loans was $8,852,000.
    Hoosier Heartland State Bank's net interest income from loans was $7,618,000.
    Hoosier Heartland State Bank's fee based income from loans was $512,000.
    Hoosier Heartland State Bank's net income from loans was $1,974,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,234
    Provision for credit losses $155
    Total noninterest expense $7,145
    Salaries and employee benefits $3,604
    Premises and equipment expense $670
    Additional noninterest expense $2,871
    Applicable income taxes $2
    Net charge-offs $68
    Cash dividends $993

    Hoosier Heartland State Bank's interest expense for loans was $1,234,000.
    Hoosier Heartland State Bank's payroll and benefits expense were $3,604,000.
    Hoosier Heartland State Bank's property, plant and equipment expenses $670,000.

    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 2.0%
    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 $180,014
    Deposits held in domestic offices $180,014
    Deposits by Individuals, partnerships, and corporations $127,282
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $52,732
    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 $74,570
    Demand deposits $31,673
    Nontransaction accounts $105,444
    Money market deposit accounts (MMDAs) $52,430
    Other savings deposits (excluding MMDAs) $26,945
    Total time deposits $26,070
    Total time and savings deposits $148,341
    Noninterest-bearing deposits $33,206
    Interest-bearing deposits $146,808
    Retail deposits $175,215
    IRAs and Keogh plan accounts $4,857
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $203,283
    Cash & Balances due from depository institutions $5,572
    Interest-bearing balances $2,222
    Total securities $59,631
    Federal funds sold & reverse repurchase $4,868
    Net loans and leases $118,075
    Loan and leases loss allowance $1,765
    Trading account assets $0
    Bank premises and fixed assets $3,382
    Other real estate owned $0
    Goodwill and other intangibles $390
    All other assets $11,365

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $203,283
    Total Liabilities $183,958
    Total deposits $180,014
    Interest-bearing deposits $146,808
    Deposits held in domestic offices $180,014
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $1,900
    Subordinated debt $0
    All other liabilities $2,044

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $118,075
    Loan and leases loss allowance $1,765
    Total loans and leases (domestic) $119,840
    All real estate loans $91,450
    Real estate loans in domestic offices $91,450
    Construction and development loans $4,026
    Residential 1-4 family construction $4,026
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $16,550
    Nonfarm nonresidential secured by owner-occupied properties $8,408
    Commercial real estate & other non-farm, non-residential $8,142
    Multifamily residential real estate $2,791
    1-4 family residential loans $35,456
    Farmland loans $32,627
    Loans held in foreign offices $0
    Farm loans $7,338
    Commercial and industrial loans $7,418
    To non-U.S. addressees $0
    Loans to individuals $9,777
    Credit card loans $1,045
    Related Plans $23
    Consumer Auto Loans $3,148
    Other loans to individuals $5,561
    All other loans & leases $3,856
    Loans to foreign governments and official institutions $0
    Other loans $1,361
    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 $1,410
    Non 1-4 family restructured loans & leases $1,349
    Total loans and leases (foreign) $0

    Hoosier Heartland State Bank had $118,075,000 of loans outstanding in 2019. $91,450,000 of loans were in real estate loans. $4,026,000 of loans were in development loans. $2,791,000 of loans were in multifamily mortgage loans. $35,456,000 of loans were in 1-4 family mortgage loans. $7,338,000 of loans were in farm loans. $1,045,000 of loans were in credit card loans. $3,148,000 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 96 $16,550 $172,396
    Nonfarm, nonresidential loans - <$100k 42 $2,006 $47,762
    Nonfarm, nonresidential loans - $100-250k 26 $3,023 $116,269
    Nonfarm, nonresidential loans - $250k-1MM 28 $11,521 $411,464
    Commercial & Industrial, US addressed loans - <$1MM 105 $7,418 $70,648
    Commercial & Industrial, US addressed loans - <$100k 76 $1,783 $23,461
    Commercial & Industrial, US addressed loans - $100-250k 17 $2,003 $117,824
    Commercial & Industrial, US addressed loans - $250k-1MM 12 $3,632 $302,667
    Farmland loans - <$1MM 164 $32,626 $198,939
    Farmland loans - <$100k 60 $2,197 $36,617
    Farmland loans - $100-250k 45 $5,568 $123,733
    Farmland loans - $250k-1MM 59 $24,861 $421,373
    Agriculture operations loans - <$1MM 67 $7,338 $109,522
    Agriculture operations loans - <$100k 39 $938 $24,051
    Agriculture operations loans - $100-250k 16 $1,417 $88,563
    Agriculture operations loans - $250k-1MM 12 $4,983 $415,250