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, Cash Out Refi, and Home Purchase loans. First Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Huntington, Fort Wayne, Warsaw, Indianapolis, and Wabash among others. We have data for 32 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.

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%	4/28/24
30 Year Conventional Refi	6.96%	4/28/24
30 Year Cash-out Refi	6.61%	4/28/24
15 Year Conventional Purchase	6.36%	4/28/24
15 Year Conventional Refi	6.63%	4/28/24
15 Year Cash-out Refi	6.63%	4/28/24
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

508

Origination Dollar Volume (All Markets)

$95,140,000

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)	232	$34,100,000	$146,983	$2,756	2.95%
FORT WAYNE, IN (FHA\|USDA\|VA)	148	$28,880,000	$195,135	$2,999	3.60%
Warsaw, IN (FHA\|USDA\|VA)	52	$15,050,000	$289,423	$3,089	3.31%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA\|USDA\|VA)	13	$3,455,000	$265,769	$3,280	3.57%
Wabash, IN (FHA\|USDA\|VA)	13	$1,705,000	$131,154	$2,639	2.86%
PORT ST. LUCIE, FL (FHA\|USDA\|VA)	1	$1,575,000	$1,575,000	$7,404	4.00%
Kendallville, IN (FHA\|USDA\|VA)	7	$1,515,000	$216,429	$3,031	2.95%
Angola, IN (FHA\|USDA\|VA)	3	$865,000	$288,333	$2,598	2.96%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	2	$820,000	$410,000	$4,623	4.13%
Bluffton, IN (FHA\|USDA\|VA)	5	$815,000	$163,000	$2,963	2.78%
CLEVELAND-ELYRIA, OH (FHA\|USDA\|VA)	2	$680,000	$340,000	$4,530	3.69%
Sturgis, MI (FHA\|USDA\|VA)	1	$545,000	$545,000	$4,569	3.00%
MUNCIE, IN (FHA\|USDA\|VA)	2	$480,000	$240,000	$1,726	3.77%
ELKHART-GOSHEN, IN (FHA\|USDA\|VA)	3	$475,000	$158,333	$3,691	2.92%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	1	$465,000	$465,000	$3,574	3.63%
Decatur, IN (FHA\|USDA\|VA)	4	$460,000	$115,000	$3,075	2.94%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA\|USDA\|VA)	1	$385,000	$385,000	$10,930	3.00%
Sevierville, TN (FHA\|USDA\|VA)	1	$335,000	$335,000	$5,656	3.00%
LOUISVILLE, KY (FHA\|USDA\|VA)	1	$305,000	$305,000	$0	4.50%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	1	$265,000	$265,000	$4,786	2.63%
Marion, IN (FHA\|USDA\|VA)	2	$250,000	$125,000	$2,829	2.81%
Outside of Metro Areas	2	$250,000	$125,000	$2,976	2.25%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$235,000	$235,000	$0	2.25%
Detroit-Warren-Dearborn, MI (FHA\|USDA\|VA)	1	$205,000	$205,000	$3,493	2.75%
SOUTH BEND-MISHAWAKA, IN-MI (FHA\|USDA\|VA)	1	$205,000	$205,000	$2,961	3.13%
THE VILLAGES, FL (FHA\|USDA\|VA)	1	$185,000	$185,000	$2,021	4.50%
MUSKEGON, MI (FHA\|USDA\|VA)	1	$135,000	$135,000	$1,023	2.38%
KOKOMO, IN (FHA\|USDA\|VA)	1	$125,000	$125,000	$1,827	2.25%
Sandusky, OH (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	4.55%
Auburn, IN (FHA\|USDA\|VA)	2	$100,000	$50,000	$0	5.47%
LAFAYETTE-WEST LAFAYETTE, IN (FHA\|USDA\|VA)	1	$95,000	$95,000	$1,989	3.88%
Plymouth, IN (FHA\|USDA\|VA)	1	$75,000	$75,000	$1,927	2.38%

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

Their top states include:

Indiana (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Michigan (FHA|USDA|VA)

Ohio (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	507	$94,935,000	$187,249	$2,918	3.21%
HELOC	1	$205,000	$205,000	n/a	4.50%

For 2021, First Federal Savings Bank's most frequently originated type of loan was Conventional, with 507 originations. Their 2nd most popular type was HELOC, with 1 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	182	$35,670,000	$195,989	$2,461	3.08%
Cash Out Refi	173	$29,045,000	$167,890	$3,462	2.73%
Home Purchase	153	$30,425,000	$198,856	$2,797	3.91%

For 2021, First Federal Savings Bank's most frequently cited loan purpose was Refi, with 182 originations. The 2nd most popular reason was Cash Out Refi, with 173 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	225	$44,795,000	$199,089	$3,348	3.17%
15 Year	157	$22,855,000	$145,573	$2,526	2.97%
20 Year	60	$13,150,000	$219,167	$2,846	3.33%
10 Year	28	$2,890,000	$103,214	$1,909	2.75%
1 Year	15	$1,425,000	$95,000	$0	5.25%
Other	14	$5,480,000	$391,429	$2,284	4.22%
30+ year	8	$4,140,000	$517,500	$2,539	4.31%
3 Year	1	$405,000	$405,000	$0	3.66%

For 2021, First Federal Savings Bank's most frequently cited loan duration was 30 Year, with 225 originations. The 2nd most popular length was 15 Year, with 157 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	349	$63,605,000	$182,249
$1k-2k	62	$13,540,000	$218,387
$2k-3k	30	$4,690,000	$156,333
$4k-5k	9	$2,215,000	$246,111
$3k-4k	8	$1,750,000	$218,750
$5k+	2	$790,000	$395,000

First Federal Savings Bank's average total fees were $3,348, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 349 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	181	$33,705,000	$186,215
<2.5%	129	$18,635,000	$144,457
3-4%	109	$22,935,000	$210,413
4-5%	54	$15,540,000	$287,778
5-6%	33	$4,205,000	$127,424
6-7%	2	$120,000	$60,000

During 2021, First Federal Savings Bank's average interest rate for loans was 3.17%, while their most frequently originated rate bucket for loans was 2.5-3%, with 181 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	188	$26,430,000	$140,585	$2,656	3.08%
$100,000 or less	162	$10,530,000	$65,000	$2,133	3.37%
$200k-400k	117	$31,985,000	$273,376	$3,868	3.02%
$400k-600k	31	$14,815,000	$477,903	$4,443	3.56%
$600k-1MM	6	$4,260,000	$710,000	$3,878	4.43%
$1MM+	4	$7,120,000	$1,780,000	$5,180	4.18%

2021 saw First Federal Savings Bank place emphasis on $100k-200k loans with 188 originations, totaling $26,430,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	132	$20,110,000	$152,348	$3,003	2.87%
$50k or less	124	$12,670,000	$102,177	$2,262	3.03%
$100k-150k	67	$13,885,000	$207,239	$3,415	3.01%
$75k-100k	62	$10,780,000	$173,871	$2,749	3.01%
$150k-250k	50	$15,840,000	$316,800	$3,473	3.25%
$250k+	21	$12,615,000	$600,714	$4,199	3.19%

First Federal Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 132 originations. The second most popular income band? $50k or less, with 124 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	114	$19,660,000	$172,456	$2,741	2.93%
30-36%	78	$11,760,000	$150,769	$2,598	2.88%
<20%	48	$7,690,000	$160,208	$2,791	2.82%
43%	21	$3,415,000	$162,619	$3,231	3.00%
50-60%	17	$5,325,000	$313,235	$3,139	3.49%
36%	17	$2,205,000	$129,706	$2,997	2.79%
41%	17	$3,215,000	$189,118	$3,765	3.01%
45%	16	$2,620,000	$163,750	$3,041	3.36%
42%	15	$2,305,000	$153,667	$2,960	3.18%
44%	14	$2,920,000	$208,571	$3,133	3.03%
37%	14	$3,280,000	$234,286	$3,142	3.06%
40%	13	$2,975,000	$228,846	$3,017	3.04%
39%	13	$3,255,000	$250,385	$3,147	3.32%
47%	13	$2,735,000	$210,385	$2,882	2.97%
48%	12	$2,730,000	$227,500	$3,236	3.53%
49%	10	$2,500,000	$250,000	$3,972	3.04%
38%	10	$1,700,000	$170,000	$2,868	2.69%
46%	10	$1,610,000	$161,000	$3,012	2.83%
>60%	8	$4,690,000	$586,250	$2,638	4.41%

First Federal Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 114 originations. The next most common DTI ratio? 30-36%, with 78 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	448	$84,130,000	$187,790	$2,910	3.00%
Not applicable	48	$8,550,000	$178,125	$0	5.11%
Asian	7	$1,855,000	$265,000	$3,246	3.30%
Black	4	$490,000	$122,500	$3,411	3.34%
Not provided	1	$115,000	$115,000	$2,017	3.25%

Approval Rates

Total approvals of all applications
94.62%

First Federal Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
86.61%

First Federal Savings Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	508	$95,140,000	$187,283

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	508	$95,140,000	$187,283

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	40	$4,750,000	$118,750	$2,206	3.09%
40-60%	120	$16,940,000	$141,167	$2,308	2.90%
60-80%	242	$49,610,000	$205,000	$3,265	3.28%
80-100%	84	$18,650,000	$222,024	$3,301	3.12%
Over 100%	14	$4,780,000	$341,429	$0	4.85%
Under 20%	8	$410,000	$51,250	$984	4.48%

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	6	17.6%
FIRST HORIZON BANK	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	2	5.9%
FIRST HORIZON BANK	Other type of mortgage	Closing on a mortgage	2	5.9%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	2.9%
FIRST HORIZON BANK	VA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	2.9%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Struggling to pay mortgage	1	2.9%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	2	5.9%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	2	5.9%
FIRST HORIZON BANK	FHA mortgage	Closing on a mortgage	1	2.9%
FIRST HORIZON BANK	FHA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	2.9%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	10	29.4%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	1	2.9%
FIRST HORIZON BANK	Conventional home mortgage	Closing on a mortgage	2	5.9%
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	2	5.9%

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	$78,090
First Federal Savings Bank	10316 Maysville Road Fort Wayne, IN 46835	Full Service B&M	$19,375
First Federal Savings Bank	1240 South Jefferson Street Huntington, IN 46750	Full Service B&M	$9,080
First Federal Savings Bank	402 East Center Street Warsaw, IN 46580	Full Service B&M	$18,182
First Federal Savings Bank	5317 S Bend Dr Fort Wayne, IN 46804	Full Service B&M	$42,825
First Federal Savings Bank	648 N Jefferson St Huntington, IN 46750	Full Service B&M	$142,805

For 2021, First Federal Savings Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,460
Net interest income	$14,352
Total noninterest income	$4,565
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$651
Trading account gains and fees	$0
Additional Noninterest Income	$3,914
Pre-tax net operating income	$9,149
Securities gains (or losses, -)	$0
Income before extraordinary items	$7,452
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$7,452
Minority interest net income	$0
Net income	$7,452
Sale, conversion, retirement of capital stock, net	$115
Net operating income	$7,452

First Federal Savings Bank's gross interest income from loans was $16,460,000.
First Federal Savings Bank's net interest income from loans was $14,352,000.
First Federal Savings Bank's fee based income from loans was $651,000.
First Federal Savings Bank's net income from loans was $7,452,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,108
Provision for credit losses	$120
Total noninterest expense	$9,648
Salaries and employee benefits	$5,224
Premises and equipment expense	$1,064
Additional noninterest expense	$3,360
Applicable income taxes	$1,697
Net charge-offs	$-26
Cash dividends	$3,614

First Federal Savings Bank's interest expense for loans was $2,108,000.
First Federal Savings Bank's payroll and benefits expense were $5,224,000.
First Federal Savings Bank's property, plant and equipment expenses $1,064,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
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	1.0%
All other family	2.0%
Commercial & industrial loans	1.0%
Personal loans	1.0%
Credit card loans	0.0%
Other individual loans	1.0%
Auto loans	0.0%
Other consumer loans	19.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$342,436
Deposits held in domestic offices	$342,436
Deposits by Individuals, partnerships, and corporations	$291,354
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$48,066
Deposits by Commercial banks and other depository institutions in U.S.	$3,016
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$211,757
Demand deposits	$56,923
Nontransaction accounts	$130,679
Money market deposit accounts (MMDAs)	$39,109
Other savings deposits (excluding MMDAs)	$43,364
Total time deposits	$48,206
Total time and savings deposits	$285,513
Noninterest-bearing deposits	$56,923
Interest-bearing deposits	$285,513
Retail deposits	$316,831
IRAs and Keogh plan accounts	$5,032
Brokered deposits	$13,357
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$417,595
Cash & Balances due from depository institutions	$17,991
Interest-bearing balances	$14,409
Total securities	$98,561
Federal funds sold & reverse repurchase	$0
Net loans and leases	$274,806
Loan and leases loss allowance	$3,998
Trading account assets	$0
Bank premises and fixed assets	$6,937
Other real estate owned	$0
Goodwill and other intangibles	$1,445
All other assets	$17,855

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$417,595
Total Liabilities	$369,326
Total deposits	$342,436
Interest-bearing deposits	$285,513
Deposits held in domestic offices	$342,436
% insured (estimated)	$69
Federal funds purchased and repurchase agreements	$9,001
Trading liabilities	$0
Other borrowed funds	$14,000
Subordinated debt	$0
All other liabilities	$3,889

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$274,806
Loan and leases loss allowance	$3,998
Total loans and leases (domestic)	$278,804
All real estate loans	$200,544
Real estate loans in domestic offices	$200,544
Construction and development loans	$15,972
Residential 1-4 family construction	$1,737
Other construction, all land development and other land	$14,235
Loans secured by nonfarm nonresidential properties	$116,266
Nonfarm nonresidential secured by owner-occupied properties	$53,779
Commercial real estate & other non-farm, non-residential	$62,487
Multifamily residential real estate	$11,386
1-4 family residential loans	$51,928
Farmland loans	$4,992
Loans held in foreign offices	$0
Farm loans	$2,922
Commercial and industrial loans	$68,811
To non-U.S. addressees	$0
Loans to individuals	$6,527
Credit card loans	$0
Related Plans	$3
Consumer Auto Loans	$6,162
Other loans to individuals	$362
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	$412
Non 1-4 family restructured loans & leases	$412
Total loans and leases (foreign)	$0

First Federal Savings Bank had $274,806,000 of loans outstanding in 2021. $200,544,000 of loans were in real estate loans. $15,972,000 of loans were in development loans. $11,386,000 of loans were in multifamily mortgage loans. $51,928,000 of loans were in 1-4 family mortgage loans. $2,922,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,162,000 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	290	$64,325	$221,810
Nonfarm, nonresidential loans - <$100k	73	$2,877	$39,411
Nonfarm, nonresidential loans - $100-250k	96	$12,848	$133,833
Nonfarm, nonresidential loans - $250k-1MM	121	$48,600	$401,653
Commercial & Industrial, US addressed loans - <$1MM	422	$36,605	$86,742
Commercial & Industrial, US addressed loans - <$100k	280	$7,662	$27,364
Commercial & Industrial, US addressed loans - $100-250k	74	$8,061	$108,932
Commercial & Industrial, US addressed loans - $250k-1MM	68	$20,882	$307,088
Farmland loans - <$1MM	7	$1,764	$252,000
Farmland loans - <$100k	1	$98	$98,000
Farmland loans - $250k-1MM	6	$1,666	$277,667