First Federal Savings Bank Mortgage Rates, Fees & Info

Huntington, IN

LEI: 549300RMPGD5KKS1RR35

Tax ID: 35-0576640

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

Review & Overview

First Federal Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. First Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Huntington, Fort Wayne, Warsaw, Detroit, and Indianapolis among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Federal Savings Bank has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. First Federal Savings 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
30 Year Conventional Purchase	6.89%	11/21/24
30 Year Conventional Refi	6.96%	11/21/24
30 Year Cash-out Refi	6.61%	11/21/24
15 Year Conventional Purchase	6.36%	11/21/24
15 Year Conventional Refi	6.63%	11/21/24
15 Year Cash-out Refi	6.63%	11/21/24
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 Federal Savings Bank Mortgage Calculator

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This is not an official calculator from First Federal Savings 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

243

Origination Dollar Volume (All Markets)

$33,095,000

Employee count

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
Huntington, IN (FHA\|USDA\|VA)	126	$14,620,000	$116,032	$2,257	4.84%
FORT WAYNE, IN (FHA\|USDA\|VA)	64	$9,580,000	$149,688	$2,655	5.05%
Warsaw, IN (FHA\|USDA\|VA)	19	$3,485,000	$183,421	$2,802	4.97%
Detroit-Warren-Dearborn, MI (FHA\|USDA\|VA)	1	$945,000	$945,000	$4,088	5.50%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	5	$875,000	$175,000	$2,721	4.45%
Bluffton, IN (FHA\|USDA\|VA)	6	$840,000	$140,000	$1,843	5.52%
Angola, IN (FHA\|USDA\|VA)	4	$800,000	$200,000	$1,656	5.56%
SOUTH BEND-MISHAWAKA, IN-MI (FHA\|USDA\|VA)	2	$430,000	$215,000	$2,934	4.38%
Decatur, IN (FHA\|USDA\|VA)	3	$315,000	$105,000	$2,274	5.68%
Wabash, IN (FHA\|USDA\|VA)	3	$225,000	$75,000	$2,107	4.08%
ELKHART-GOSHEN, IN (FHA\|USDA\|VA)	2	$200,000	$100,000	$1,894	4.88%
Outside of Metro Areas	2	$190,000	$95,000	$1,789	5.06%
Logansport, IN (FHA\|USDA\|VA)	1	$165,000	$165,000	$3,015	4.75%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	2	$160,000	$80,000	$221	6.50%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	1	$155,000	$155,000	$4,483	4.50%
Marion, IN (FHA\|USDA\|VA)	1	$55,000	$55,000	$1,636	4.25%
Coldwater, MI (FHA\|USDA\|VA)	1	$55,000	$55,000	$555	6.25%

First Federal Savings Bank's top markets include Huntington, Fort Wayne, Warsaw, Detroit, and Indianapolis among others.

Their top states include:

Indiana (FHA|USDA|VA)

Michigan (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Ohio (FHA|USDA|VA)

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Similarity Rank: 1343

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	243	$33,095,000	$136,193	$2,376	4.95%

For 2018, First Federal Savings Bank's most frequently originated type of loan was Conventional, with 243 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	153	$20,675,000	$135,131	$2,395	4.96%
Refi	61	$9,485,000	$155,492	$2,560	4.80%
Home Improvement	14	$1,660,000	$118,571	$1,460	5.13%
Other	11	$775,000	$70,455	$1,780	5.29%
Cash Out Refi	3	$345,000	$115,000	$3,710	5.21%
NA	1	$155,000	$155,000	$3,469	4.13%

For 2018, First Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 153 originations. The 2nd most popular reason was Refi, with 61 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	116	$17,070,000	$147,155	$2,727	4.83%
15 Year	53	$5,515,000	$104,057	$2,183	4.51%
Other	33	$5,425,000	$164,394	$1,747	5.79%
20 Year	26	$4,500,000	$173,077	$2,542	5.04%
10 Year	14	$570,000	$40,714	$879	5.35%
5 Year	1	$15,000	$15,000	$210	6.00%

For 2018, First Federal Savings Bank's most frequently cited loan duration was 30 Year, with 116 originations. The 2nd most popular length was 15 Year, with 53 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	105	$13,845,000	$131,857
$1k-2k	61	$8,735,000	$143,197
$2k-3k	26	$4,330,000	$166,538
$3k-4k	11	$1,455,000	$132,273
$5k+	4	$1,150,000	$287,500
$4k-5k	1	$235,000	$235,000

First Federal Savings Bank's average total fees were $2,727, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 105 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	134	$18,610,000	$138,881
5-6%	61	$8,925,000	$146,311
3-4%	27	$4,025,000	$149,074
6-7%	19	$1,245,000	$65,526
7-8%	2	$290,000	$145,000

During 2018, First Federal Savings Bank's average interest rate for loans was 4.83%, while their most frequently originated rate bucket for loans was 4-5%, with 134 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	120	$6,990,000	$58,250	$1,886	5.08%
$100k-200k	77	$11,215,000	$145,649	$2,666	4.79%
$200k-400k	36	$9,510,000	$264,167	$2,943	4.76%
$400k-600k	8	$3,710,000	$463,750	$3,118	5.10%
$600k-1MM	2	$1,670,000	$835,000	$3,190	5.50%

2018 saw First Federal Savings Bank place emphasis on $100,000 or less loans with 120 originations, totaling $6,990,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	70	$5,950,000	$85,000	$2,158	4.88%
$50k-75k	56	$6,240,000	$111,429	$2,214	4.71%
$100k-150k	39	$7,555,000	$193,718	$2,745	4.92%
$75k-100k	37	$5,085,000	$137,432	$2,536	4.94%
$150k-250k	18	$3,540,000	$196,667	$2,354	5.08%
$250k+	8	$2,720,000	$340,000	$3,119	4.95%

First Federal Savings Bank lent most frequently to those with incomes in the $50k or less range, with 70 originations. The second most popular income band? $50k-75k, with 56 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	59	$6,375,000	$108,051	$2,413	4.75%
30-36%	34	$5,410,000	$159,118	$2,518	4.76%
<20%	30	$3,440,000	$114,667	$2,134	4.73%
39%	13	$1,895,000	$145,769	$2,576	5.13%
36%	9	$1,035,000	$115,000	$2,786	5.08%
40%	8	$1,920,000	$240,000	$3,330	4.41%
43%	8	$1,300,000	$162,500	$2,345	4.83%
>60%	7	$1,625,000	$232,143	$1,840	5.46%
37%	7	$685,000	$97,857	$1,769	5.11%
38%	7	$505,000	$72,143	$1,570	5.34%
42%	6	$1,040,000	$173,333	$3,068	5.15%
44%	6	$860,000	$143,333	$2,788	4.79%
45%	6	$820,000	$136,667	$1,856	4.79%
46%	6	$860,000	$143,333	$2,660	4.77%
47%	5	$665,000	$133,000	$2,106	4.88%
49%	4	$680,000	$170,000	$2,649	4.38%
50-60%	4	$870,000	$217,500	$1,599	5.69%
41%	4	$430,000	$107,500	$2,161	4.38%
48%	2	$220,000	$110,000	$2,330	4.88%

First Federal Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 59 originations. The next most common DTI ratio? 30-36%, with 34 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	219	$29,335,000	$133,950	$2,359	4.86%
Not applicable	15	$2,005,000	$133,667	$0	6.09%
Asian	4	$800,000	$200,000	$4,086	5.09%
American Indian	3	$605,000	$201,667	$1,945	5.21%
Korean	1	$205,000	$205,000	$0	6.00%
Black	1	$145,000	$145,000	$1,930	4.63%

Approval Rates

Total approvals of all applications
89.56%

First Federal Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
90.53%

First Federal Savings Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	243	$33,095,000	$136,193

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	4	$930,000	$232,500
Single Family (1-4 Units):Manufactured	4	$250,000	$62,500
Single Family (1-4 Units):Site-Built	235	$31,915,000	$135,809

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	16	$1,590,000	$99,375	$1,525	5.56%
40-60%	22	$2,980,000	$135,455	$2,003	4.97%
60-80%	116	$17,920,000	$154,483	$2,656	4.89%
80-100%	77	$10,045,000	$130,455	$2,546	4.77%
Under 20%	11	$485,000	$44,091	$580	5.74%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	1	7.1%
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	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	Other type of mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	5	35.7%
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 Federal Savings Bank	100 Frontage Road Huntington, IN 46750	Full Service B&M	$54,763
First Federal Savings Bank	10316 Maysville Road Fort Wayne, IN 46835	Full Service B&M	$7,200
First Federal Savings Bank	1240 South Jefferson Street Huntington, IN 46750	Full Service B&M	$6,725
First Federal Savings Bank	402 East Center Street Warsaw, IN 46580	Full Service B&M	$12,659
First Federal Savings Bank	5317 S Bend Dr Fort Wayne, IN 46804	Full Service B&M	$26,871
First Federal Savings Bank	648 N Jefferson St Huntington, IN 46750	Full Service B&M	$115,829

For 2018, First Federal Savings Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$14,243
Net interest income	$11,037
Total noninterest income	$3,203
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$623
Trading account gains and fees	$0
Additional Noninterest Income	$2,580
Pre-tax net operating income	$5,184
Securities gains (or losses, -)	$-163
Income before extraordinary items	$4,300
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,300
Minority interest net income	$0
Net income	$4,300
Sale, conversion, retirement of capital stock, net	$105
Net operating income	$4,440

First Federal Savings Bank's gross interest income from loans was $14,243,000.
First Federal Savings Bank's net interest income from loans was $11,037,000.
First Federal Savings Bank's fee based income from loans was $623,000.
First Federal Savings Bank's net income from loans was $4,300,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,206
Provision for credit losses	$175
Total noninterest expense	$8,881
Salaries and employee benefits	$4,617
Premises and equipment expense	$1,054
Additional noninterest expense	$3,210
Applicable income taxes	$721
Net charge-offs	$65
Cash dividends	$2,214

First Federal Savings Bank's interest expense for loans was $3,206,000.
First Federal Savings Bank's payroll and benefits expense were $4,617,000.
First Federal Savings Bank's property, plant and equipment expenses $1,054,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	1.0%
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	0.0%
Personal loans	1.0%
Credit card loans	0.0%
Other individual loans	1.0%
Auto loans	0.0%
Other consumer loans	10.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$233,427
Deposits held in domestic offices	$233,427
Deposits by Individuals, partnerships, and corporations	$214,767
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$18,660
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	$118,285
Demand deposits	$26,809
Nontransaction accounts	$115,142
Money market deposit accounts (MMDAs)	$11,309
Other savings deposits (excluding MMDAs)	$24,292
Total time deposits	$79,541
Total time and savings deposits	$206,618
Noninterest-bearing deposits	$26,809
Interest-bearing deposits	$206,618
Retail deposits	$179,112
IRAs and Keogh plan accounts	$4,980
Brokered deposits	$37,912
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$334,151
Cash & Balances due from depository institutions	$9,667
Interest-bearing balances	$6,996
Total securities	$62,711
Federal funds sold & reverse repurchase	$61
Net loans and leases	$240,529
Loan and leases loss allowance	$2,856
Trading account assets	$0
Bank premises and fixed assets	$3,988
Other real estate owned	$33
Goodwill and other intangibles	$1,360
All other assets	$15,802

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$334,151
Total Liabilities	$296,921
Total deposits	$233,427
Interest-bearing deposits	$206,618
Deposits held in domestic offices	$233,427
% insured (estimated)	$73
Federal funds purchased and repurchase agreements	$11,764
Trading liabilities	$0
Other borrowed funds	$48,000
Subordinated debt	$0
All other liabilities	$3,730

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$240,529
Loan and leases loss allowance	$2,856
Total loans and leases (domestic)	$243,385
All real estate loans	$185,701
Real estate loans in domestic offices	$185,701
Construction and development loans	$14,966
Residential 1-4 family construction	$791
Other construction, all land development and other land	$14,175
Loans secured by nonfarm nonresidential properties	$98,572
Nonfarm nonresidential secured by owner-occupied properties	$66,822
Commercial real estate & other non-farm, non-residential	$31,750
Multifamily residential real estate	$4,481
1-4 family residential loans	$65,420
Farmland loans	$2,262
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$47,589
To non-U.S. addressees	$0
Loans to individuals	$10,095
Credit card loans	$0
Related Plans	$361
Consumer Auto Loans	$8,949
Other loans to individuals	$785
All other loans & leases	$0
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	$170
Non 1-4 family restructured loans & leases	$170
Total loans and leases (foreign)	$0

First Federal Savings Bank had $240,529,000 of loans outstanding in 2018. $185,701,000 of loans were in real estate loans. $14,966,000 of loans were in development loans. $4,481,000 of loans were in multifamily mortgage loans. $65,420,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $8,949,000 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	$51,127	$192,207
Nonfarm, nonresidential loans - <$100k	108	$4,300	$39,815
Nonfarm, nonresidential loans - $100-250k	75	$10,215	$136,200
Nonfarm, nonresidential loans - $250k-1MM	83	$36,612	$441,108
Commercial & Industrial, US addressed loans - <$1MM	281	$28,657	$101,982
Commercial & Industrial, US addressed loans - <$100k	163	$4,498	$27,595
Commercial & Industrial, US addressed loans - $100-250k	69	$8,522	$123,507
Commercial & Industrial, US addressed loans - $250k-1MM	49	$15,637	$319,122
Farmland loans - <$1MM	7	$1,303	$186,143
Farmland loans - <$100k	3	$155	$51,667
Farmland loans - $250k-1MM	4	$1,148	$287,000