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 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, Bluffton, and Wabash among others. We have data for 33 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 a below 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%	4/21/24
30 Year Conventional Refi	6.96%	4/21/24
30 Year Cash-out Refi	6.61%	4/21/24
15 Year Conventional Purchase	6.36%	4/21/24
15 Year Conventional Refi	6.63%	4/21/24
15 Year Cash-out Refi	6.63%	4/21/24
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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

578

Origination Dollar Volume (All Markets)

$102,470,000

Employee count

Awards

First Federal Savings Bank 30 Year Conventional Loans gold

First Federal Savings Bank 30 Year Conventional Loans bronze

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
Huntington, IN (FHA\|USDA\|VA)	294	$41,800,000	$142,177	$2,516	3.06%
FORT WAYNE, IN (FHA\|USDA\|VA)	133	$28,425,000	$213,722	$3,156	3.34%
Warsaw, IN (FHA\|USDA\|VA)	58	$9,310,000	$160,517	$2,949	3.21%
Bluffton, IN (FHA\|USDA\|VA)	11	$5,265,000	$478,636	$3,536	3.66%
Wabash, IN (FHA\|USDA\|VA)	21	$3,075,000	$146,429	$2,454	3.07%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	11	$2,425,000	$220,455	$2,736	2.74%
Outside of Metro Areas	6	$1,400,000	$233,333	$3,664	3.08%
Kendallville, IN (FHA\|USDA\|VA)	6	$1,160,000	$193,333	$4,026	3.44%
Detroit-Warren-Dearborn, MI (FHA\|USDA\|VA)	2	$1,110,000	$555,000	$3,142	4.25%
Coldwater, MI (FHA\|USDA\|VA)	2	$890,000	$445,000	$7,488	3.25%
Angola, IN (FHA\|USDA\|VA)	4	$870,000	$217,500	$2,284	3.72%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	2	$830,000	$415,000	$2,538	2.88%
Key West, FL (FHA\|USDA\|VA)	1	$515,000	$515,000	$7,801	2.88%
Marion, IN (FHA\|USDA\|VA)	5	$445,000	$89,000	$2,983	3.18%
Auburn, IN (FHA\|USDA\|VA)	2	$420,000	$210,000	$2,774	2.88%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$415,000	$415,000	$7,461	3.00%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	1	$405,000	$405,000	$4,113	2.38%
SOUTH BEND-MISHAWAKA, IN-MI (FHA\|USDA\|VA)	2	$400,000	$200,000	$2,913	2.75%
MORRISTOWN, TN (FHA\|USDA\|VA)	1	$365,000	$365,000	$5,522	3.00%
Plymouth, IN (FHA\|USDA\|VA)	2	$360,000	$180,000	$3,879	3.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	1	$355,000	$355,000	$4,483	2.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	1	$325,000	$325,000	$2,982	3.00%
Sevierville, TN (FHA\|USDA\|VA)	1	$265,000	$265,000	$2,834	4.63%
GRAND RAPIDS-KENTWOOD, MI (FHA\|USDA\|VA)	1	$225,000	$225,000	$2,293	2.63%
GREENVILLE-ANDERSON, SC (FHA\|USDA\|VA)	1	$215,000	$215,000	$2,849	2.50%
Decatur, IN (FHA\|USDA\|VA)	1	$205,000	$205,000	$4,685	3.00%
ELKHART-GOSHEN, IN (FHA\|USDA\|VA)	1	$175,000	$175,000	$5,905	3.38%
TUCSON, AZ (FHA\|USDA\|VA)	1	$165,000	$165,000	$3,740	3.00%
PUNTA GORDA, FL (FHA\|USDA\|VA)	1	$155,000	$155,000	$3,617	3.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA\|USDA\|VA)	1	$155,000	$155,000	$0	4.40%
BLOOMINGTON, IN (FHA\|USDA\|VA)	1	$125,000	$125,000	$4,758	3.00%
KOKOMO, IN (FHA\|USDA\|VA)	1	$125,000	$125,000	$3,389	3.25%
Peru, IN (FHA\|USDA\|VA)	1	$95,000	$95,000	$2,042	3.38%

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

Their top states include:

Indiana (FHA|USDA|VA)

Michigan (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Tennessee (FHA|USDA|VA)

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	575	$100,445,000	$174,687	$2,822	3.15%
HELOC	3	$2,025,000	$675,000	n/a	4.92%

For 2020, First Federal Savings Bank's most frequently originated type of loan was Conventional, with 575 originations. Their 2nd most popular type was HELOC, with 3 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	226	$44,140,000	$195,310	$2,144	3.11%
Cash Out Refi	222	$38,270,000	$172,387	$3,565	2.93%
Home Purchase	128	$19,890,000	$155,391	$2,683	3.62%
Home Improvement	2	$170,000	$85,000	$0	5.47%

For 2020, First Federal Savings Bank's most frequently cited loan purpose was Refi, with 226 originations. The 2nd most popular reason was Cash Out Refi, with 222 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	260	$49,540,000	$190,538	$3,228	3.19%
15 Year	204	$30,920,000	$151,569	$2,448	2.85%
20 Year	64	$12,400,000	$193,750	$2,916	3.33%
10 Year	25	$2,245,000	$89,800	$1,680	3.48%
Other	19	$6,675,000	$351,316	$2,076	4.54%
1 Year	6	$690,000	$115,000	$0	4.96%

For 2020, First Federal Savings Bank's most frequently cited loan duration was 30 Year, with 260 originations. The 2nd most popular length was 15 Year, with 204 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	202	$31,390,000	$155,396
$1k-2k	182	$25,480,000	$140,000
$2k-3k	81	$14,125,000	$174,383
$3k-4k	45	$11,035,000	$245,222
$5k+	24	$8,130,000	$338,750
$4k-5k	16	$4,060,000	$253,750

First Federal Savings Bank's average total fees were $3,228, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 202 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	261	$47,675,000	$182,663
<2.5%	133	$18,475,000	$138,910
3-4%	127	$25,245,000	$198,780
4-5%	25	$6,375,000	$255,000
5-6%	25	$4,315,000	$172,600
6-7%	7	$385,000	$55,000

During 2020, First Federal Savings Bank's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 2.5-3%, with 261 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	209	$29,645,000	$141,842	$2,666	3.06%
$100,000 or less	187	$12,595,000	$67,353	$2,163	3.32%
$200k-400k	145	$39,325,000	$271,207	$3,499	3.06%
$400k-600k	33	$15,515,000	$470,152	$4,389	3.17%
$1MM+	4	$5,390,000	$1,347,500	$0	4.81%

2020 saw First Federal Savings Bank place emphasis on $100k-200k loans with 209 originations, totaling $29,645,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	150	$21,140,000	$140,933	$2,582	3.09%
$50k or less	141	$12,975,000	$92,021	$2,276	3.11%
$75k-100k	87	$16,855,000	$193,736	$3,056	2.97%
$100k-150k	79	$16,115,000	$203,987	$3,146	2.98%
$150k-250k	51	$13,945,000	$273,431	$3,490	3.17%
$250k+	33	$11,865,000	$359,545	$4,097	3.07%

First Federal Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 150 originations. The second most popular income band? $50k or less, with 141 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	166	$27,590,000	$166,205	$2,742	3.01%
30-36%	101	$15,185,000	$150,347	$2,812	3.00%
<20%	90	$16,030,000	$178,111	$2,743	2.98%
41%	26	$4,860,000	$186,923	$2,937	2.94%
46%	17	$3,745,000	$220,294	$3,260	3.06%
42%	16	$2,400,000	$150,000	$3,752	2.85%
43%	14	$2,480,000	$177,143	$3,389	3.06%
39%	14	$2,070,000	$147,857	$2,585	3.17%
44%	13	$2,515,000	$193,462	$3,095	2.94%
40%	12	$3,080,000	$256,667	$3,635	2.94%
37%	12	$1,480,000	$123,333	$2,220	3.15%
50-60%	12	$2,830,000	$235,833	$2,084	4.29%
38%	12	$2,570,000	$214,167	$3,030	3.26%
45%	10	$1,400,000	$140,000	$2,403	2.99%
36%	10	$1,040,000	$104,000	$2,062	3.75%
49%	9	$2,385,000	$265,000	$3,701	2.93%
47%	8	$950,000	$118,750	$2,440	3.20%
48%	5	$1,075,000	$215,000	$3,206	3.28%
>60%	3	$535,000	$178,333	$1,814	5.21%

First Federal Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 166 originations. The next most common DTI ratio? 30-36%, with 101 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	524	$88,790,000	$169,447	$2,817	3.06%
Not applicable	29	$8,455,000	$291,552	$1,932	4.99%
Asian	11	$2,825,000	$256,818	$3,929	3.27%
Not provided	9	$1,125,000	$125,000	$2,216	3.21%
Black	3	$645,000	$215,000	$1,907	2.67%
American Indian	1	$345,000	$345,000	$2,851	3.00%
Native Hawaiian or Islander	1	$285,000	$285,000	$2,396	3.38%

Approval Rates

Total approvals of all applications
92.77%

First Federal Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
86.85%

First Federal Savings Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	578	$102,470,000	$177,284

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	5	$2,855,000	$571,000
Single Family (1-4 Units):Manufactured	18	$1,470,000	$81,667
Single Family (1-4 Units):Site-Built	555	$98,145,000	$176,838

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	45	$6,365,000	$141,444	$2,057	2.99%
40-60%	104	$15,610,000	$150,096	$2,146	2.99%
60-80%	292	$55,280,000	$189,315	$3,124	3.15%
80-100%	124	$20,720,000	$167,097	$3,056	3.21%
Over 100%	7	$4,125,000	$589,286	$0	4.86%
Under 20%	6	$370,000	$61,667	$996	5.22%

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Other type of mortgage	Closing on a mortgage	2	13.3%
FIRST HORIZON BANK	Other type of mortgage	Struggling to pay mortgage	1	6.7%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	2	13.3%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	3	20.0%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	6.7%
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	6.7%
FIRST HORIZON BANK	Conventional home mortgage	Closing on a mortgage	1	6.7%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	4	26.7%

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	$72,623
First Federal Savings Bank	10316 Maysville Road Fort Wayne, IN 46835	Full Service B&M	$14,924
First Federal Savings Bank	1240 South Jefferson Street Huntington, IN 46750	Full Service B&M	$8,367
First Federal Savings Bank	402 East Center Street Warsaw, IN 46580	Full Service B&M	$14,885
First Federal Savings Bank	5317 S Bend Dr Fort Wayne, IN 46804	Full Service B&M	$36,665
First Federal Savings Bank	648 N Jefferson St Huntington, IN 46750	Full Service B&M	$154,457

For 2020, First Federal Savings Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$15,549
Net interest income	$12,508
Total noninterest income	$4,613
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$631
Trading account gains and fees	$0
Additional Noninterest Income	$3,982
Pre-tax net operating income	$6,951
Securities gains (or losses, -)	$0
Income before extraordinary items	$5,743
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,743
Minority interest net income	$0
Net income	$5,743
Sale, conversion, retirement of capital stock, net	$122
Net operating income	$5,743

First Federal Savings Bank's gross interest income from loans was $15,549,000.
First Federal Savings Bank's net interest income from loans was $12,508,000.
First Federal Savings Bank's fee based income from loans was $631,000.
First Federal Savings Bank's net income from loans was $5,743,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,041
Provision for credit losses	$580
Total noninterest expense	$9,590
Salaries and employee benefits	$5,417
Premises and equipment expense	$1,024
Additional noninterest expense	$3,149
Applicable income taxes	$1,208
Net charge-offs	$-80
Cash dividends	$2,614

First Federal Savings Bank's interest expense for loans was $3,041,000.
First Federal Savings Bank's payroll and benefits expense were $5,417,000.
First Federal Savings Bank's property, plant and equipment expenses $1,024,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	2.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	2.0%
Multifamily residential loans	0.0%
1-4 family residential loans	3.0%
HELOC loans	1.0%
All other family	3.0%
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	12.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$297,179
Deposits held in domestic offices	$297,179
Deposits by Individuals, partnerships, and corporations	$252,801
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$41,371
Deposits by Commercial banks and other depository institutions in U.S.	$3,007
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$163,564
Demand deposits	$46,478
Nontransaction accounts	$133,615
Money market deposit accounts (MMDAs)	$38,045
Other savings deposits (excluding MMDAs)	$33,766
Total time deposits	$61,804
Total time and savings deposits	$250,701
Noninterest-bearing deposits	$46,478
Interest-bearing deposits	$250,701
Retail deposits	$262,119
IRAs and Keogh plan accounts	$5,302
Brokered deposits	$22,006
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$391,221
Cash & Balances due from depository institutions	$18,390
Interest-bearing balances	$16,092
Total securities	$85,434
Federal funds sold & reverse repurchase	$0
Net loans and leases	$264,357
Loan and leases loss allowance	$3,852
Trading account assets	$0
Bank premises and fixed assets	$5,283
Other real estate owned	$5
Goodwill and other intangibles	$1,264
All other assets	$16,488

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$391,221
Total Liabilities	$345,823
Total deposits	$297,179
Interest-bearing deposits	$250,701
Deposits held in domestic offices	$297,179
% insured (estimated)	$74
Federal funds purchased and repurchase agreements	$7,805
Trading liabilities	$0
Other borrowed funds	$38,000
Subordinated debt	$0
All other liabilities	$2,839

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$264,357
Loan and leases loss allowance	$3,852
Total loans and leases (domestic)	$268,209
All real estate loans	$181,043
Real estate loans in domestic offices	$181,043
Construction and development loans	$13,072
Residential 1-4 family construction	$1,110
Other construction, all land development and other land	$11,962
Loans secured by nonfarm nonresidential properties	$106,575
Nonfarm nonresidential secured by owner-occupied properties	$56,111
Commercial real estate & other non-farm, non-residential	$50,464
Multifamily residential real estate	$10,160
1-4 family residential loans	$45,881
Farmland loans	$5,355
Loans held in foreign offices	$0
Farm loans	$2,995
Commercial and industrial loans	$76,449
To non-U.S. addressees	$0
Loans to individuals	$7,722
Credit card loans	$0
Related Plans	$145
Consumer Auto Loans	$7,115
Other loans to individuals	$462
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	$433
Non 1-4 family restructured loans & leases	$433
Total loans and leases (foreign)	$0

First Federal Savings Bank had $264,357,000 of loans outstanding in 2020. $181,043,000 of loans were in real estate loans. $13,072,000 of loans were in development loans. $10,160,000 of loans were in multifamily mortgage loans. $45,881,000 of loans were in 1-4 family mortgage loans. $2,995,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,115,000 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	280	$54,852	$195,900
Nonfarm, nonresidential loans - <$100k	83	$3,678	$44,313
Nonfarm, nonresidential loans - $100-250k	99	$12,738	$128,667
Nonfarm, nonresidential loans - $250k-1MM	98	$38,436	$392,204
Commercial & Industrial, US addressed loans - <$1MM	562	$50,523	$89,899
Commercial & Industrial, US addressed loans - <$100k	381	$11,176	$29,333
Commercial & Industrial, US addressed loans - $100-250k	97	$11,087	$114,299
Commercial & Industrial, US addressed loans - $250k-1MM	84	$28,260	$336,429
Farmland loans - <$1MM	6	$1,925	$320,833
Farmland loans - $250k-1MM	6	$1,925	$320,833