The Farmers Bank Frankfort Indiana Mortgage Rates, Fees & Info
Frankfort, INLEI: 549300VIKSC6B00SLF36
Tax ID: 35-0302320
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Review & Overview
The Farmers Bank Frankfort Indiana is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. The Farmers Bank Frankfort Indiana has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Frankfort, Lafayette, Warsaw, and Muncie among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)The Farmers Bank Frankfort Indiana 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.
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Originations
454Origination Dollar Volume (All Markets)
$68,580,000Employee count
123Top 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) | 189 | $32,585,000 | $172,407 | $0 | 0.00% |
| Frankfort, IN (FHA|USDA|VA) | 213 | $26,865,000 | $126,127 | $0 | 0.00% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 31 | $4,865,000 | $156,935 | $0 | 0.00% |
| Warsaw, IN (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $0 | 0.00% |
| MUNCIE, IN (FHA|USDA|VA) | 2 | $770,000 | $385,000 | $0 | 0.00% |
| KOKOMO, IN (FHA|USDA|VA) | 5 | $655,000 | $131,000 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $570,000 | $142,500 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| EVANSVILLE, IN-KY (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Logansport, IN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| Crawfordsville, IN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 454 | $68,580,000 | $151,057 | $0 | 0.00% |
For 2020, The Farmers Bank Frankfort Indiana's most frequently originated type of loan was Conventional, with 454 originations.
Loan Reason
For 2020, The Farmers Bank Frankfort Indiana's most frequently cited loan purpose was Refi, with 205 originations. The 2nd most popular reason was Home Purchase, with 118 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 454 | $68,580,000 | $151,057 | $0 | 0.00% |
For 2020, The Farmers Bank Frankfort Indiana's most frequently cited loan duration was Other, with 454 originations.
Loan Sizing
2020 saw The Farmers Bank Frankfort Indiana place emphasis on $100,000 or less loans with 173 originations, totaling $10,625,000 in origination value.
Applicant Income
The Farmers Bank Frankfort Indiana lent most frequently to those with incomes in the $50k-75k range, with 108 originations. The second most popular income band? $50k or less, with 103 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 454 | $68,580,000 | $151,057 | $0 | 0.00% |
The Farmers Bank Frankfort Indiana lent most frequently to those with DTI ratios of Exempt%, with 454 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.95%
The Farmers Bank Frankfort Indiana has an average approval rate.
Pick Rate
Approvals leading to origination88.77%
The Farmers Bank Frankfort Indiana has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 454 | $68,580,000 | $151,057 |
Occupancy Type Mix
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 | $13,553 |
| The Farmers Bank, Frankfort, Indiana | 145 East Jackson Street Mulberry, IN 46058 | Full Service B&M | $30,188 |
| The Farmers Bank, Frankfort, Indiana | 1555 North Main Street Frankfort, IN 46041 | Limited, Drive-thru | $2,508 |
| The Farmers Bank, Frankfort, Indiana | 16940 Clover Road Noblesville, IN 46060 | Full Service B&M | $65,327 |
| The Farmers Bank, Frankfort, Indiana | 219 Main St. Michigantown, IN 46057 | Full Service B&M | $21,970 |
| The Farmers Bank, Frankfort, Indiana | 2304 North Lebanon Street Lebanon, IN 46052 | Full Service B&M | $52,577 |
| The Farmers Bank, Frankfort, Indiana | 5450 West State Rd 26 Rossville, IN 46065 | Full Service B&M | $7,316 |
| The Farmers Bank, Frankfort, Indiana | 7126 East 116th Street Fishers, IN 46038 | Full Service B&M | $38,996 |
| The Farmers Bank, Frankfort, Indiana | 9 East Clinton Street Frankfort, IN 46041 | Full Service B&M | $280,875 |
| The Farmers Bank, Frankfort, Indiana | 987 S. White Avenue Sheridan, IN 46069 | Full Service B&M | $30,614 |
For 2020, The Farmers Bank Frankfort Indiana had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $25,697 |
| Net interest income | $23,265 |
| Total noninterest income | $6,547 |
| Gross Fiduciary activities income | $1,201 |
| Service charges on deposit accounts | $961 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,385 |
| Pre-tax net operating income | $10,089 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $8,341 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $8,341 |
| Minority interest net income | $0 |
| Net income | $8,341 |
| Sale, conversion, retirement of capital stock, net | $95 |
| Net operating income | $8,341 |
The Farmers Bank Frankfort Indiana's gross interest income from loans was $25,697,000.
The Farmers Bank Frankfort Indiana's net interest income from loans was $23,265,000.
The Farmers Bank Frankfort Indiana's fee based income from loans was $961,000.
The Farmers Bank Frankfort Indiana's net income from loans was $8,341,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,432 |
| Provision for credit losses | $2,193 |
| Total noninterest expense | $17,530 |
| Salaries and employee benefits | $10,770 |
| Premises and equipment expense | $1,686 |
| Additional noninterest expense | $5,074 |
| Applicable income taxes | $1,748 |
| Net charge-offs | $-61 |
| Cash dividends | $2,694 |
The Farmers Bank Frankfort Indiana's interest expense for loans was $2,432,000.
The Farmers Bank Frankfort Indiana's payroll and benefits expense were $10,770,000.
The Farmers Bank Frankfort Indiana's property, plant and equipment expenses $1,686,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| 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 | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| 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 | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $569,895 |
| Deposits held in domestic offices | $569,895 |
| Deposits by Individuals, partnerships, and corporations | $466,525 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $103,370 |
| 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 | $110,171 |
| Demand deposits | $47,657 |
| Nontransaction accounts | $459,724 |
| Money market deposit accounts (MMDAs) | $0 |
| Other savings deposits (excluding MMDAs) | $382,974 |
| Total time deposits | $76,751 |
| Total time and savings deposits | $522,238 |
| Noninterest-bearing deposits | $206,170 |
| Interest-bearing deposits | $363,725 |
| Retail deposits | $538,424 |
| IRAs and Keogh plan accounts | $12,144 |
| Brokered deposits | $30 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $702,470 |
| Cash & Balances due from depository institutions | $34,215 |
| Interest-bearing balances | $24,916 |
| Total securities | $171,838 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $465,286 |
| Loan and leases loss allowance | $7,043 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,471 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $1,047 |
| All other assets | $23,613 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $702,470 |
| Total Liabilities | $622,822 |
| Total deposits | $569,895 |
| Interest-bearing deposits | $363,725 |
| Deposits held in domestic offices | $569,895 |
| % insured (estimated) | $66 |
| Federal funds purchased and repurchase agreements | $37,530 |
| Trading liabilities | $0 |
| Other borrowed funds | $10,000 |
| Subordinated debt | $0 |
| All other liabilities | $5,397 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $465,286 |
| Loan and leases loss allowance | $7,043 |
| Total loans and leases (domestic) | $472,329 |
| All real estate loans | $343,295 |
| Real estate loans in domestic offices | $343,295 |
| Construction and development loans | $27,091 |
| Residential 1-4 family construction | $1,984 |
| Other construction, all land development and other land | $25,107 |
| Loans secured by nonfarm nonresidential properties | $212,997 |
| Nonfarm nonresidential secured by owner-occupied properties | $90,313 |
| Commercial real estate & other non-farm, non-residential | $122,684 |
| Multifamily residential real estate | $23,666 |
| 1-4 family residential loans | $58,331 |
| Farmland loans | $21,210 |
| Loans held in foreign offices | $0 |
| Farm loans | $27,088 |
| Commercial and industrial loans | $84,864 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $13,961 |
| Credit card loans | $0 |
| Related Plans | $423 |
| Consumer Auto Loans | $7,936 |
| Other loans to individuals | $5,602 |
| All other loans & leases | $3,121 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $42 |
| 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 | $1 |
| Non 1-4 family restructured loans & leases | $1 |
| Total loans and leases (foreign) | $0 |
The Farmers Bank Frankfort Indiana had $465,286,000 of loans outstanding in 2020. $343,295,000 of loans were in real estate loans. $27,091,000 of loans were in development loans. $23,666,000 of loans were in multifamily mortgage loans. $58,331,000 of loans were in 1-4 family mortgage loans. $27,088,000 of loans were in farm loans. $0 of loans were in credit card loans. $7,936,000 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 | 278 | $75,794 | $272,640 |
| Nonfarm, nonresidential loans - <$100k | 53 | $2,293 | $43,264 |
| Nonfarm, nonresidential loans - $100-250k | 80 | $10,310 | $128,875 |
| Nonfarm, nonresidential loans - $250k-1MM | 145 | $63,191 | $435,800 |
| Commercial & Industrial, US addressed loans - <$1MM | 667 | $59,601 | $89,357 |
| Commercial & Industrial, US addressed loans - <$100k | 391 | $10,602 | $27,115 |
| Commercial & Industrial, US addressed loans - $100-250k | 163 | $17,569 | $107,785 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 113 | $31,430 | $278,142 |
| Farmland loans - <$1MM | 82 | $8,725 | $106,402 |
| Farmland loans - <$100k | 18 | $717 | $39,833 |
| Farmland loans - $100-250k | 44 | $4,011 | $91,159 |
| Farmland loans - $250k-1MM | 20 | $3,997 | $199,850 |
| Agriculture operations loans - <$1MM | 151 | $16,711 | $110,669 |
| Agriculture operations loans - <$100k | 88 | $1,889 | $21,466 |
| Agriculture operations loans - $100-250k | 39 | $9,405 | $241,154 |
| Agriculture operations loans - $250k-1MM | 24 | $5,417 | $225,708 |