The Farmers Bank Frankfort Indiana Mortgage Rates, Fees & Info

Frankfort, IN

LEI: 549300VIKSC6B00SLF36

Tax ID: 35-0302320

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

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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

    The Farmers Bank Frankfort Indiana is a smaller bank specializing in Home Purchase and Refi loans. The Farmers Bank Frankfort Indiana has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Frankfort, Lafayette, Naples, and Chicago among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Farmers Bank Frankfort Indiana 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. The Farmers Bank Frankfort Indiana 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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    Originations

    269

    Origination Dollar Volume (All Markets)

    $32,955,000

    Employee count

    122 Show all (5) 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
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 98 $15,620,000 $159,388 $1,474 5.41%
    Frankfort, IN (FHA|USDA|VA) 143 $13,695,000 $95,769 $1,504 4.93%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 14 $1,970,000 $140,714 $1,921 4.89%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $395,000 $395,000 $4,203 4.50%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $335,000 $111,667 $2,690 5.00%
    Huntington, IN (FHA|USDA|VA) 1 $255,000 $255,000 $1,912 4.50%
    Outside of Metro Areas 3 $225,000 $75,000 $2,024 5.42%
    Logansport, IN (FHA|USDA|VA) 2 $190,000 $95,000 $1,719 4.38%
    KOKOMO, IN (FHA|USDA|VA) 1 $115,000 $115,000 $1,601 5.13%
    MUNCIE, IN (FHA|USDA|VA) 2 $100,000 $50,000 $1,897 5.00%
    Richmond, IN (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.00%
    The Farmers Bank Frankfort Indiana's top markets include Indianapolis, Frankfort, Lafayette, Naples, and Chicago among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Farmers Bank Frankfort Indiana based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Security Federal Savings Bank
    Similarity Rank: 208
    Greenfield Banking Company
    Similarity Rank: 255
    Hendricks County Bank and Trust Company
    Similarity Rank: 393
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 450
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    1st Source Bank
    Similarity Rank: 836
    The National Bank of Indianapolis
    Similarity Rank: 1020
    The Farmers Bank, Frankfort, Indiana
    Similarity Rank: 1034
    Stock Yards Bank & Trust Company
    Similarity Rank: 1176
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 1278

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 269 $32,955,000 $122,509 $1,553 5.10%

    For 2018, The Farmers Bank Frankfort Indiana's most frequently originated type of loan was Conventional, with 269 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 126 $18,040,000 $143,175 $1,743 5.10%
    Cash Out Refi 58 $5,990,000 $103,276 $1,850 4.67%
    Refi 51 $7,125,000 $139,706 $1,216 4.95%
    Other 30 $1,640,000 $54,667 $751 6.05%
    Home Improvement 4 $160,000 $40,000 $1,175 6.56%

    For 2018, The Farmers Bank Frankfort Indiana's most frequently cited loan purpose was Home Purchase, with 126 originations. The 2nd most popular reason was Cash Out Refi, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 138 $21,290,000 $154,275 $1,656 4.79%
    15 Year 76 $6,190,000 $81,447 $1,535 5.05%
    20 Year 22 $3,630,000 $165,000 $2,003 4.94%
    10 Year 16 $780,000 $48,750 $686 7.31%
    Other 10 $780,000 $78,000 $803 5.93%
    5 Year 5 $185,000 $37,000 $733 6.09%
    1 Year 2 $100,000 $50,000 $0 6.50%

    For 2018, The Farmers Bank Frankfort Indiana's most frequently cited loan duration was 30 Year, with 138 originations. The 2nd most popular length was 15 Year, with 76 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 209 $26,205,000 $125,383
    $1k-2k 26 $2,400,000 $92,308
    $2k-3k 12 $1,190,000 $99,167
    $3k-4k 1 $85,000 $85,000

    The Farmers Bank Frankfort Indiana's average total fees were $1,656, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 209 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 164 $23,040,000 $140,488
    5-6% 51 $6,545,000 $128,333
    3-4% 21 $2,105,000 $100,238
    6-7% 17 $765,000 $45,000
    Over 8% 14 $430,000 $30,714
    7-8% 2 $70,000 $35,000

    During 2018, The Farmers Bank Frankfort Indiana's average interest rate for loans was 4.79%, while their most frequently originated rate bucket for loans was 4-5%, with 164 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 139 $7,625,000 $54,856 $1,381 5.49%
    $100k-200k 91 $12,695,000 $139,505 $1,803 4.64%
    $200k-400k 32 $8,350,000 $260,938 $1,548 4.79%
    $400k-600k 6 $2,780,000 $463,333 $1,681 4.79%
    $1MM+ 1 $1,505,000 $1,505,000 $0 5.65%

    2018 saw The Farmers Bank Frankfort Indiana place emphasis on $100,000 or less loans with 139 originations, totaling $7,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 70 $6,720,000 $96,000 $1,599 5.19%
    $50k or less 66 $4,310,000 $65,303 $1,470 5.31%
    $75k-100k 46 $5,340,000 $116,087 $1,675 4.92%
    $100k-150k 45 $7,395,000 $164,333 $1,458 4.91%
    $150k-250k 16 $2,870,000 $179,375 $1,560 4.84%
    $250k+ 12 $3,320,000 $276,667 $2,019 4.64%

    The Farmers Bank Frankfort Indiana lent most frequently to those with incomes in the $50k-75k range, with 70 originations. The second most popular income band? $50k or less, with 66 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 99 $13,155,000 $132,879 $1,635 5.00%
    30-36% 58 $7,200,000 $124,138 $1,543 5.11%
    <20% 40 $3,050,000 $76,250 $1,348 5.08%
    38% 12 $1,820,000 $151,667 $1,504 4.90%
    39% 11 $1,245,000 $113,182 $1,737 5.40%
    40% 10 $1,310,000 $131,000 $1,296 5.10%
    37% 10 $740,000 $74,000 $1,749 4.89%
    36% 7 $445,000 $63,571 $1,727 5.89%
    41% 3 $235,000 $78,333 $1,360 5.08%
    42% 2 $170,000 $85,000 $3,070 4.56%
    44% 1 $75,000 $75,000 $801 6.74%
    45% 1 $265,000 $265,000 $1,827 4.38%
    46% 1 $215,000 $215,000 $1,617 3.75%
    47% 1 $125,000 $125,000 $1,955 5.75%
    >60% 1 $235,000 $235,000 $693 4.63%

    The Farmers Bank Frankfort Indiana lent most frequently to those with DTI ratios of 20-30%, with 99 originations. The next most common DTI ratio? 30-36%, with 58 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 244 $28,500,000 $116,803 $1,551 5.07%
    Not applicable 7 $2,305,000 $329,286 $0 6.01%
    Not provided 16 $1,990,000 $124,375 $1,421 5.21%
    Asian 2 $160,000 $80,000 $2,852 4.69%

    Approval Rates

    Total approvals of all applications
    85.25%

    The Farmers Bank Frankfort Indiana has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.10%

    The Farmers Bank Frankfort Indiana has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 269 $32,955,000 $122,509

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $1,505,000 $1,505,000
    Multifamily:Site-Built 2 $110,000 $55,000
    Single Family (1-4 Units):Manufactured 25 $1,365,000 $54,600
    Single Family (1-4 Units):Site-Built 241 $29,975,000 $124,378

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 24 $2,410,000 $100,417 $1,276 5.05%
    40-60% 27 $2,755,000 $102,037 $1,516 5.08%
    60-80% 102 $14,810,000 $145,196 $1,883 4.91%
    80-100% 94 $12,070,000 $128,404 $1,508 5.13%
    Under 20% 22 $910,000 $41,364 $588 5.96%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Farmers Bank, Frankfort, Indiana 110 North Main Street Kirklin, IN 46050 Full Service B&M $12,335
    The Farmers Bank, Frankfort, Indiana 145 East Jackson Street Mulberry, IN 46058 Full Service B&M $27,023
    The Farmers Bank, Frankfort, Indiana 1555 North Main Street Frankfort, IN 46041 Limited, Drive-thru $3,106
    The Farmers Bank, Frankfort, Indiana 16940 Clover Road Noblesville, IN 46060 Full Service B&M $32,805
    The Farmers Bank, Frankfort, Indiana 219 Main St. Michigantown, IN 46057 Full Service B&M $21,062
    The Farmers Bank, Frankfort, Indiana 2304 North Lebanon Street Lebanon, IN 46052 Full Service B&M $44,979
    The Farmers Bank, Frankfort, Indiana 5450 West State Rd 26 Rossville, IN 46065 Full Service B&M $1,830
    The Farmers Bank, Frankfort, Indiana 7126 East 116th Street Fishers, IN 46038 Full Service B&M $18,349
    The Farmers Bank, Frankfort, Indiana 9 East Clinton Street Frankfort, IN 46041 Full Service B&M $239,401
    The Farmers Bank, Frankfort, Indiana 987 S. White Avenue Sheridan, IN 46069 Full Service B&M $56,670

    For 2018, The Farmers Bank Frankfort Indiana had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,877
    Net interest income $20,745
    Total noninterest income $4,839
    Gross Fiduciary activities income $1,028
    Service charges on deposit accounts $1,093
    Trading account gains and fees $0
    Additional Noninterest Income $2,718
    Pre-tax net operating income $9,633
    Securities gains (or losses, -) $0
    Income before extraordinary items $7,924
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,924
    Minority interest net income $0
    Net income $7,924
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,924

    The Farmers Bank Frankfort Indiana's gross interest income from loans was $22,877,000.
    The Farmers Bank Frankfort Indiana's net interest income from loans was $20,745,000.
    The Farmers Bank Frankfort Indiana's fee based income from loans was $1,093,000.
    The Farmers Bank Frankfort Indiana's net income from loans was $7,924,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,132
    Provision for credit losses $450
    Total noninterest expense $15,501
    Salaries and employee benefits $8,859
    Premises and equipment expense $1,614
    Additional noninterest expense $5,028
    Applicable income taxes $1,709
    Net charge-offs $1,573
    Cash dividends $1,643

    The Farmers Bank Frankfort Indiana's interest expense for loans was $2,132,000.
    The Farmers Bank Frankfort Indiana's payroll and benefits expense were $8,859,000.
    The Farmers Bank Frankfort Indiana's property, plant and equipment expenses $1,614,000.

    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 6.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 3.0%
    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 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $458,924
    Deposits held in domestic offices $458,924
    Deposits by Individuals, partnerships, and corporations $359,196
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $99,727
    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 $102,805
    Demand deposits $39,941
    Nontransaction accounts $356,118
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $290,103
    Total time deposits $66,015
    Total time and savings deposits $418,982
    Noninterest-bearing deposits $150,219
    Interest-bearing deposits $308,705
    Retail deposits $434,054
    IRAs and Keogh plan accounts $13,565
    Brokered deposits $30
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $562,795
    Cash & Balances due from depository institutions $9,979
    Interest-bearing balances $1,514
    Total securities $124,683
    Federal funds sold & reverse repurchase $0
    Net loans and leases $399,004
    Loan and leases loss allowance $4,411
    Trading account assets $0
    Bank premises and fixed assets $6,697
    Other real estate owned $0
    Goodwill and other intangibles $790
    All other assets $21,642

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $562,795
    Total Liabilities $501,040
    Total deposits $458,924
    Interest-bearing deposits $308,705
    Deposits held in domestic offices $458,924
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $18,049
    Trading liabilities $0
    Other borrowed funds $20,000
    Subordinated debt $0
    All other liabilities $4,067

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $399,004
    Loan and leases loss allowance $4,411
    Total loans and leases (domestic) $403,415
    All real estate loans $310,335
    Real estate loans in domestic offices $310,335
    Construction and development loans $33,290
    Residential 1-4 family construction $2,605
    Other construction, all land development and other land $30,685
    Loans secured by nonfarm nonresidential properties $175,766
    Nonfarm nonresidential secured by owner-occupied properties $62,060
    Commercial real estate & other non-farm, non-residential $113,706
    Multifamily residential real estate $17,620
    1-4 family residential loans $62,157
    Farmland loans $21,502
    Loans held in foreign offices $0
    Farm loans $25,398
    Commercial and industrial loans $49,742
    To non-U.S. addressees $0
    Loans to individuals $14,349
    Credit card loans $0
    Related Plans $543
    Consumer Auto Loans $9,486
    Other loans to individuals $4,320
    All other loans & leases $3,591
    Loans to foreign governments and official institutions $0
    Other loans $169
    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 $28
    Non 1-4 family restructured loans & leases $28
    Total loans and leases (foreign) $0

    The Farmers Bank Frankfort Indiana had $399,004,000 of loans outstanding in 2018. $310,335,000 of loans were in real estate loans. $33,290,000 of loans were in development loans. $17,620,000 of loans were in multifamily mortgage loans. $62,157,000 of loans were in 1-4 family mortgage loans. $25,398,000 of loans were in farm loans. $0 of loans were in credit card loans. $9,486,000 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 271 $68,015 $250,978
    Nonfarm, nonresidential loans - <$100k 66 $2,798 $42,394
    Nonfarm, nonresidential loans - $100-250k 67 $7,194 $107,373
    Nonfarm, nonresidential loans - $250k-1MM 138 $58,023 $420,457
    Commercial & Industrial, US addressed loans - <$1MM 283 $31,282 $110,537
    Commercial & Industrial, US addressed loans - <$100k 148 $4,685 $31,655
    Commercial & Industrial, US addressed loans - $100-250k 74 $8,324 $112,486
    Commercial & Industrial, US addressed loans - $250k-1MM 61 $18,273 $299,557
    Farmland loans - <$1MM 77 $7,680 $99,740
    Farmland loans - <$100k 17 $629 $37,000
    Farmland loans - $100-250k 39 $3,350 $85,897
    Farmland loans - $250k-1MM 21 $3,701 $176,238
    Agriculture operations loans - <$1MM 114 $9,984 $87,579
    Agriculture operations loans - <$100k 59 $1,548 $26,237
    Agriculture operations loans - $100-250k 38 $4,468 $117,579
    Agriculture operations loans - $250k-1MM 17 $3,968 $233,412