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, Refi, and Cash Out Refi loans. First Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Huntington, Fort Wayne, Warsaw, Wabash, and Bluffton among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Federal Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above 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.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.89%	11/22/24
30 Year Conventional Refi	6.96%	11/22/24
30 Year Cash-out Refi	6.61%	11/22/24
15 Year Conventional Purchase	6.36%	11/22/24
15 Year Conventional Refi	6.63%	11/22/24
15 Year Cash-out Refi	6.63%	11/22/24
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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

298

Origination Dollar Volume (All Markets)

$42,610,000

Employee count

Awards

First Federal Savings Bank 30 Year Conventional Loans bronze

Show all (1) 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
Huntington, IN (FHA\|USDA\|VA)	152	$18,650,000	$122,697	$2,255	4.40%
FORT WAYNE, IN (FHA\|USDA\|VA)	82	$13,220,000	$161,220	$2,647	4.82%
Warsaw, IN (FHA\|USDA\|VA)	28	$5,090,000	$181,786	$3,265	4.12%
Wabash, IN (FHA\|USDA\|VA)	5	$1,425,000	$285,000	$2,210	4.64%
Outside of Metro Areas	4	$750,000	$187,500	$2,272	4.44%
Bluffton, IN (FHA\|USDA\|VA)	4	$670,000	$167,500	$3,495	3.63%
Kendallville, IN (FHA\|USDA\|VA)	5	$515,000	$103,000	$1,364	4.30%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	3	$455,000	$151,667	$2,040	4.33%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	2	$330,000	$165,000	$2,952	5.37%
Detroit-Warren-Dearborn, MI (FHA\|USDA\|VA)	1	$205,000	$205,000	$3,177	3.63%
Traverse City, MI (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	5.60%
Logansport, IN (FHA\|USDA\|VA)	1	$165,000	$165,000	$3,052	3.38%
LEXINGTON-FAYETTE, KY (FHA\|USDA\|VA)	1	$155,000	$155,000	$4,319	3.50%
GRAND RAPIDS-KENTWOOD, MI (FHA\|USDA\|VA)	1	$155,000	$155,000	$4,248	3.75%
Plymouth, IN (FHA\|USDA\|VA)	1	$145,000	$145,000	$2,173	5.50%
MUSKEGON, MI (FHA\|USDA\|VA)	1	$135,000	$135,000	$1,762	3.88%
Marion, IN (FHA\|USDA\|VA)	2	$110,000	$55,000	$1,357	4.19%
Decatur, IN (FHA\|USDA\|VA)	1	$95,000	$95,000	$1,984	3.88%
MUNCIE, IN (FHA\|USDA\|VA)	1	$85,000	$85,000	$2,745	3.88%
TOLEDO, OH (FHA\|USDA\|VA)	1	$55,000	$55,000	$0	5.99%
Angola, IN (FHA\|USDA\|VA)	1	$25,000	$25,000	$216	5.25%

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

Their top states include:

Indiana (FHA|USDA|VA)

Michigan (FHA|USDA|VA)

Florida (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Kentucky (FHA|USDA|VA)

Similar Lenders

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	298	$42,610,000	$142,987	$2,441	4.48%

For 2019, First Federal Savings Bank's most frequently originated type of loan was Conventional, with 298 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	151	$19,025,000	$125,993	$2,288	4.66%
Refi	69	$11,795,000	$170,942	$2,040	4.58%
Cash Out Refi	58	$9,840,000	$169,655	$3,436	3.70%
Home Improvement	12	$1,440,000	$120,000	$1,834	4.81%
Other	8	$510,000	$63,750	$1,245	5.63%

For 2019, First Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 151 originations. The 2nd most popular reason was Refi, with 69 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	134	$21,160,000	$157,910	$2,742	4.20%
15 Year	73	$8,325,000	$114,041	$2,372	4.08%
Other	50	$8,060,000	$161,200	$1,751	5.59%
20 Year	23	$3,685,000	$160,217	$2,608	4.11%
10 Year	9	$595,000	$66,111	$1,245	5.48%
1 Year	8	$760,000	$95,000	$537	5.90%
5 Year	1	$25,000	$25,000	$216	5.25%

For 2019, First Federal Savings Bank's most frequently cited loan duration was 30 Year, with 134 originations. The 2nd most popular length was 15 Year, with 73 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	131	$13,795,000	$105,305
$1k-2k	75	$11,425,000	$152,333
$2k-3k	33	$6,195,000	$187,727
$3k-4k	12	$2,710,000	$225,833
$5k+	7	$2,235,000	$319,286
$4k-5k	2	$720,000	$360,000

First Federal Savings Bank's average total fees were $2,742, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 131 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	133	$21,745,000	$163,496
4-5%	74	$10,250,000	$138,514
5-6%	59	$7,535,000	$127,712
6-7%	27	$2,245,000	$83,148
2.5-3%	5	$835,000	$167,000

During 2019, First Federal Savings Bank's average interest rate for loans was 4.20%, while their most frequently originated rate bucket for loans was 3-4%, with 133 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	128	$7,610,000	$59,453	$1,781	4.83%
$100k-200k	110	$15,810,000	$143,727	$2,447	4.28%
$200k-400k	48	$12,970,000	$270,208	$3,536	4.10%
$400k-600k	10	$4,610,000	$461,000	$4,450	3.92%
$1MM+	1	$1,005,000	$1,005,000	$0	5.21%
$600k-1MM	1	$605,000	$605,000	$0	6.50%

2019 saw First Federal Savings Bank place emphasis on $100,000 or less loans with 128 originations, totaling $7,610,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	83	$6,445,000	$77,651	$1,995	4.50%
$50k-75k	60	$8,870,000	$147,833	$2,360	4.18%
$100k-150k	44	$7,200,000	$163,636	$2,778	4.39%
$75k-100k	39	$6,075,000	$155,769	$2,636	4.08%
$150k-250k	24	$6,120,000	$255,000	$2,926	4.60%
$250k+	11	$2,515,000	$228,636	$3,721	4.11%

First Federal Savings Bank lent most frequently to those with incomes in the $50k or less range, with 83 originations. The second most popular income band? $50k-75k, with 60 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	65	$9,605,000	$147,769	$2,645	4.16%
30-36%	45	$6,805,000	$151,222	$2,329	4.27%
<20%	40	$4,490,000	$112,250	$2,149	4.32%
49%	10	$1,710,000	$171,000	$2,690	4.84%
42%	9	$1,125,000	$125,000	$2,318	3.94%
38%	9	$1,485,000	$165,000	$2,709	4.68%
44%	9	$1,545,000	$171,667	$3,087	3.97%
40%	8	$1,080,000	$135,000	$2,913	4.19%
>60%	8	$960,000	$120,000	$1,314	5.39%
48%	8	$1,190,000	$148,750	$2,243	4.73%
46%	7	$745,000	$106,429	$2,089	4.34%
37%	7	$885,000	$126,429	$2,137	4.57%
36%	7	$1,235,000	$176,429	$2,950	4.55%
41%	6	$850,000	$141,667	$2,439	3.85%
50-60%	6	$1,180,000	$196,667	$2,320	4.75%
45%	6	$880,000	$146,667	$3,306	3.81%
43%	5	$595,000	$119,000	$2,100	5.05%
39%	5	$645,000	$129,000	$1,997	3.83%
47%	2	$310,000	$155,000	$3,118	3.56%

First Federal Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 65 originations. The next most common DTI ratio? 30-36%, with 45 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	254	$35,860,000	$141,181	$2,413	4.32%
Not applicable	34	$5,090,000	$149,706	$0	5.65%
Asian	3	$455,000	$151,667	$2,836	4.88%
Native Hawaiian or Islander	1	$375,000	$375,000	$8,702	3.25%
American Indian	1	$355,000	$355,000	$5,069	4.50%
Black	4	$300,000	$75,000	$1,767	5.03%
Not provided	1	$175,000	$175,000	$2,040	5.50%

Approval Rates

Total approvals of all applications
90.86%

First Federal Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
90.27%

First Federal Savings Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	298	$42,610,000	$142,987

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	7	$2,335,000	$333,571
Single Family (1-4 Units):Manufactured	6	$490,000	$81,667
Single Family (1-4 Units):Site-Built	285	$39,785,000	$139,596

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	23	$1,805,000	$78,478	$1,494	4.42%
40-60%	43	$6,415,000	$149,186	$1,975	4.51%
60-80%	137	$19,005,000	$138,723	$2,717	4.47%
80-100%	78	$13,830,000	$177,308	$2,746	4.22%
Over 100%	7	$905,000	$129,286	$2,384	5.90%
Under 20%	9	$555,000	$61,667	$475	5.90%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	1	6.7%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Closing on a mortgage	1	6.7%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	2	13.3%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	4	26.7%
FIRST HORIZON BANK	FHA mortgage	Struggling to pay mortgage	1	6.7%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	6.7%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	3	20.0%
FIRST HORIZON BANK	VA mortgage	Closing on a mortgage	1	6.7%
FIRST HORIZON BANK	VA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	6.7%

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	$67,977
First Federal Savings Bank	10316 Maysville Road Fort Wayne, IN 46835	Full Service B&M	$8,859
First Federal Savings Bank	1240 South Jefferson Street Huntington, IN 46750	Full Service B&M	$7,275
First Federal Savings Bank	402 East Center Street Warsaw, IN 46580	Full Service B&M	$14,103
First Federal Savings Bank	5317 S Bend Dr Fort Wayne, IN 46804	Full Service B&M	$25,873
First Federal Savings Bank	648 N Jefferson St Huntington, IN 46750	Full Service B&M	$122,092

For 2019, First Federal Savings Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,084
Net interest income	$11,748
Total noninterest income	$3,289
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$707
Trading account gains and fees	$0
Additional Noninterest Income	$2,582
Pre-tax net operating income	$5,572
Securities gains (or losses, -)	$90
Income before extraordinary items	$4,824
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,824
Minority interest net income	$0
Net income	$4,824
Sale, conversion, retirement of capital stock, net	$105
Net operating income	$4,747

First Federal Savings Bank's gross interest income from loans was $16,084,000.
First Federal Savings Bank's net interest income from loans was $11,748,000.
First Federal Savings Bank's fee based income from loans was $707,000.
First Federal Savings Bank's net income from loans was $4,824,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$4,336
Provision for credit losses	$425
Total noninterest expense	$9,040
Salaries and employee benefits	$4,934
Premises and equipment expense	$1,116
Additional noninterest expense	$2,990
Applicable income taxes	$838
Net charge-offs	$90
Cash dividends	$2,514

First Federal Savings Bank's interest expense for loans was $4,336,000.
First Federal Savings Bank's payroll and benefits expense were $4,934,000.
First Federal Savings Bank's property, plant and equipment expenses $1,116,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	2.0%
Real Estate loans	2.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	3.0%
Multifamily residential loans	0.0%
1-4 family residential loans	2.0%
HELOC loans	0.0%
All other family	2.0%
Commercial & industrial loans	1.0%
Personal loans	0.0%
Credit card loans	0.0%
Other individual loans	0.0%
Auto loans	0.0%
Other consumer loans	2.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$252,579
Deposits held in domestic offices	$252,579
Deposits by Individuals, partnerships, and corporations	$229,759
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$22,820
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	$132,827
Demand deposits	$30,970
Nontransaction accounts	$119,752
Money market deposit accounts (MMDAs)	$12,764
Other savings deposits (excluding MMDAs)	$25,333
Total time deposits	$81,655
Total time and savings deposits	$221,609
Noninterest-bearing deposits	$30,308
Interest-bearing deposits	$222,271
Retail deposits	$199,780
IRAs and Keogh plan accounts	$5,360
Brokered deposits	$35,604
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$353,875
Cash & Balances due from depository institutions	$14,897
Interest-bearing balances	$12,048
Total securities	$63,619
Federal funds sold & reverse repurchase	$0
Net loans and leases	$253,596
Loan and leases loss allowance	$3,192
Trading account assets	$0
Bank premises and fixed assets	$4,971
Other real estate owned	$262
Goodwill and other intangibles	$1,332
All other assets	$15,198

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$353,875
Total Liabilities	$312,895
Total deposits	$252,579
Interest-bearing deposits	$222,271
Deposits held in domestic offices	$252,579
% insured (estimated)	$81
Federal funds purchased and repurchase agreements	$11,237
Trading liabilities	$0
Other borrowed funds	$46,000
Subordinated debt	$0
All other liabilities	$3,079

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$253,596
Loan and leases loss allowance	$3,192
Total loans and leases (domestic)	$256,788
All real estate loans	$188,993
Real estate loans in domestic offices	$188,993
Construction and development loans	$15,024
Residential 1-4 family construction	$933
Other construction, all land development and other land	$14,091
Loans secured by nonfarm nonresidential properties	$108,814
Nonfarm nonresidential secured by owner-occupied properties	$57,132
Commercial real estate & other non-farm, non-residential	$51,682
Multifamily residential real estate	$7,704
1-4 family residential loans	$55,225
Farmland loans	$2,226
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$55,392
To non-U.S. addressees	$0
Loans to individuals	$12,403
Credit card loans	$0
Related Plans	$50
Consumer Auto Loans	$8,649
Other loans to individuals	$3,704
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	$468
Non 1-4 family restructured loans & leases	$468
Total loans and leases (foreign)	$0

First Federal Savings Bank had $253,596,000 of loans outstanding in 2019. $188,993,000 of loans were in real estate loans. $15,024,000 of loans were in development loans. $7,704,000 of loans were in multifamily mortgage loans. $55,225,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $8,649,000 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	365	$66,598	$182,460
Nonfarm, nonresidential loans - <$100k	156	$6,650	$42,628
Nonfarm, nonresidential loans - $100-250k	107	$14,414	$134,710
Nonfarm, nonresidential loans - $250k-1MM	102	$45,534	$446,412
Commercial & Industrial, US addressed loans - <$1MM	275	$39,465	$143,509
Commercial & Industrial, US addressed loans - <$100k	146	$5,116	$35,041
Commercial & Industrial, US addressed loans - $100-250k	72	$9,711	$134,875
Commercial & Industrial, US addressed loans - $250k-1MM	57	$24,638	$432,246
Farmland loans - <$1MM	8	$1,322	$165,250
Farmland loans - <$100k	2	$20	$10,000
Farmland loans - $100-250k	1	$29	$29,000
Farmland loans - $250k-1MM	5	$1,273	$254,600