Fcn Bank Mortgage Rates, Fees & Info

Brookville, IN

LEI: 549300XYOAX0LV89BL94

Tax ID: 35-0320211

5 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Fcn Bank is a smaller bank specializing in Cash Out Refi, Home Purchase, and Refi loans. Fcn Bank has a high proportion of conventional loans. Their top markets include Cincinnati, Connersville, Greensburg, Indianapolis, and Richmond among others. Fcn Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Fcn Bank is typically an average fee lendor.


Originations

449

Origination Dollar Volume (All Markets)

$83,065,000

Employee count

129

Relative Rate

Fcn Bank's average 30 year fixed rate mortgage of loans were 3.22%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.07%.

Relative Fees

Fcn Bank's average total fees for a 30 year fixed rate mortgage are $3,503.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 309 $62,685,000 $202,864 $3,041 3.11%
Outside of Metro Areas 70 $11,470,000 $163,857 $2,458 3.00%
Connersville, IN (FHA|USDA|VA) 48 $5,290,000 $110,208 $2,400 3.13%
Greensburg, IN (FHA|USDA|VA) 6 $1,040,000 $173,333 $2,690 3.15%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 4 $500,000 $125,000 $2,156 4.03%
Richmond, IN (FHA|USDA|VA) 4 $500,000 $125,000 $3,796 3.25%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $345,000 $345,000 $11,929 4.13%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $265,000 $265,000 $5,408 2.88%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $205,000 $205,000 $2,869 3.25%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,630 2.88%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $185,000 $185,000 $8,465 4.00%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $175,000 $175,000 $0 4.00%
COLUMBUS, IN (FHA|USDA|VA) 1 $145,000 $145,000 $2,154 3.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $55,000 $55,000 $2,464 2.50%

Fcn Bank's top markets include Cincinnati, Connersville, Greensburg, Indianapolis, and Richmond among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 449 $83,065,000 $185,000 $2,913 3.11%

For the 2021 period, Fcn Bank's most frequently originated loan type of loans were Conventional, with 449 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 173 $26,575,000 $153,613 $3,247 2.97%
Home Purchase 134 $28,110,000 $209,776 $3,159 3.30%
Refi 131 $28,035,000 $214,008 $2,463 2.88%
Other 10 $330,000 $33,000 $300 5.56%
Home Improvement 1 $15,000 $15,000 $350 7.25%

For the 2021, Fcn Bank's most frequently cited loan purpose of loans were Cash Out Refi, with 173 originations. The 2nd most popular reason of loans were Home Purchase, with 134 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 223 $39,295,000 $176,211 $3,503 3.22%
15 Year 129 $19,055,000 $147,713 $2,257 2.62%
20 Year 46 $8,140,000 $176,957 $2,615 3.33%
Other 26 $14,540,000 $559,231 $1,038 3.87%
10 Year 22 $2,000,000 $90,909 $1,669 3.32%
5 Year 3 $35,000 $11,667 $183 4.63%

For the 2021, Fcn Bank's most frequently cited loan length of loans were 30 Year, with 223 originations. The 2nd most popular length of loans were 15 Year, with 129 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 130 $18,940,000 $145,692
$<1k 128 $14,970,000 $116,953
$2k-3k 66 $11,980,000 $181,515
$3k-4k 53 $11,245,000 $212,170
$5k+ 25 $6,195,000 $247,800

$3,503 of loans were Fcn Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 130 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 176 $40,870,000 $232,216
2.5-3% 145 $24,945,000 $172,034
<2.5% 103 $14,335,000 $139,175
4-5% 18 $2,740,000 $152,222
6-7% 5 $155,000 $31,000
5-6% 1 $5,000 $5,000
7-8% 1 $15,000 $15,000

During 2021, Fcn Bank's average interest rate of loans were 3.22%, while their most frequently originated rate bucket of loans were 3-4%, with 176 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 217 $31,725,000 $146,198 $2,946 3.02%
$100,000 or less 118 $7,960,000 $67,458 $1,934 3.21%
$200k-400k 93 $24,505,000 $263,495 $3,914 3.09%
$400k-600k 10 $4,730,000 $473,000 $5,460 3.47%
$600k-1MM 6 $4,710,000 $785,000 $2,609 3.48%
$1MM+ 5 $9,435,000 $1,887,000 $0 3.75%

2021 saw Fcn Bank place emphasis on $100k-200k loans with 217 originations, totaling $31,725,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 106 $14,100,000 $133,019 $2,717 3.07%
$100k-150k 88 $15,610,000 $177,386 $3,190 3.02%
$50k or less 88 $8,850,000 $100,568 $2,252 3.04%
$75k-100k 81 $14,095,000 $174,012 $3,306 2.98%
$150k-250k 31 $7,505,000 $242,097 $3,845 3.01%
$250k+ 9 $3,275,000 $363,889 $2,295 2.92%

Fcn Bank lent most frequently to those with incomes in the $50k-75k range, with 106 originations. The second most popular income band? $100k-150k, with 88 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 131 $20,845,000 $159,122 $2,623 3.03%
30-36% 89 $16,075,000 $180,618 $3,417 3.04%
<20% 81 $10,305,000 $127,222 $2,495 2.90%
36% 15 $1,825,000 $121,667 $2,997 3.41%
41% 14 $2,570,000 $183,571 $2,967 2.98%
37% 10 $1,930,000 $193,000 $3,879 3.00%
42% 9 $1,495,000 $166,111 $3,803 3.22%
40% 9 $1,235,000 $137,222 $2,981 3.06%
44% 7 $1,285,000 $183,571 $4,619 3.14%
45% 6 $800,000 $133,333 $3,426 3.33%
39% 6 $1,310,000 $218,333 $2,865 2.98%
46% 5 $725,000 $145,000 $2,531 2.88%
38% 5 $605,000 $121,000 $2,707 2.93%
43% 4 $490,000 $122,500 $2,000 2.81%
47% 4 $700,000 $175,000 $3,628 3.06%
48% 3 $545,000 $181,667 $3,332 3.13%
49% 2 $260,000 $130,000 $1,841 3.00%
50-60% 2 $210,000 $105,000 $2,245 2.88%
>60% 1 $225,000 $225,000 $1,964 3.38%

Fcn Bank lent most frequently to those with DTI ratios of 20-30%, with 131 originations. The next most common DTI ratio? 30-36%, with 89 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 378 $59,220,000 $156,667 $2,917 3.03%
Not applicable 42 $19,330,000 $460,238 $0 3.84%
Not provided 25 $3,935,000 $157,400 $2,878 2.98%
Black 2 $420,000 $210,000 $4,080 3.19%
American Indian 2 $160,000 $80,000 $1,459 3.19%

Approval Rates

Total approvals of all applications
90.12%

Fcn Bank has an average approval rate.

Pick Rate

Approvals leading to origination
86.92%

Fcn Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 449 $83,065,000 $185,000

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
449 $83,065,000 $185,000

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 42 $3,920,000 $93,333 $1,727 2.85%
40-60% 83 $10,555,000 $127,169 $2,072 2.81%
60-80% 193 $35,755,000 $185,259 $3,640 3.09%
80-100% 105 $20,785,000 $197,952 $3,108 3.19%
Over 100% 13 $11,425,000 $878,846 $0 3.88%
Under 20% 13 $625,000 $48,077 $620 4.73%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Fcn Bank, National Association 105 W. Third Street Connersville, IN 47331 Full Service B&M $31,388
Fcn Bank, National Association 1060 State Road 229 North Batesville, IN 47006 Full Service B&M $150,590
Fcn Bank, National Association 226 North Meridian Street Sunman, IN 47041 Full Service B&M $89,047
Fcn Bank, National Association 501 Main St Brookville, IN 47012 Full Service B&M $170,316
Fcn Bank, National Association 590 Ring Road Harrison, OH 45030 Full Service B&M $64,531
Fcn Bank, National Association 595 West Eads Parkway Lawrenceburg, IN 47025 Full Service B&M $114,063

For 2021, Fcn Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $21,083
Net interest income $18,003
Total noninterest income $5,686
Gross Fiduciary activities income $20
Service charges on deposit accounts $371
Trading account gains and fees $0
Additional Noninterest Income $5,295
Pre-tax net operating income $9,055
Securities gains (or losses, -) $26
Income before extraordinary items $7,928
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $7,928
Minority interest net income $0
Net income $7,928
Sale, conversion, retirement of capital stock, net $0
Net operating income $7,905

Fcn Bank's gross interest income from loans was $21,083,000.
Fcn Bank's net interest income from loans was $18,003,000.
Fcn Bank's fee based income from loans was $371,000.
Fcn Bank's net income from loans was $7,928,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,080
Provision for credit losses $240
Total noninterest expense $14,394
Salaries and employee benefits $8,555
Premises and equipment expense $1,385
Additional noninterest expense $4,454
Applicable income taxes $1,153
Net charge-offs $-148
Cash dividends $6,163

Fcn Bank's interest expense for loans was $3,080,000.
Fcn Bank's payroll and benefits expense were $8,555,000.
Fcn Bank's property, plant and equipment expenses $1,385,000.

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 $625,426
Deposits held in domestic offices $625,426
Deposits by Individuals, partnerships, and corporations $563,436
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $61,990
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 $264,405
Demand deposits $137,687
Nontransaction accounts $361,021
Money market deposit accounts (MMDAs) $94,215
Other savings deposits (excluding MMDAs) $137,058
Total time deposits $129,748
Total time and savings deposits $487,739
Noninterest-bearing deposits $137,687
Interest-bearing deposits $487,739
Retail deposits $603,586
IRAs and Keogh plan accounts $26,096
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $721,883
Cash & Balances due from depository institutions $11,781
Interest-bearing balances $7,522
Total securities $331,793
Federal funds sold & reverse repurchase $0
Net loans and leases $336,744
Loan and leases loss allowance $5,201
Trading account assets $0
Bank premises and fixed assets $11,784
Other real estate owned $40
Goodwill and other intangibles $7,612
All other assets $22,129

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $721,883
Total Liabilities $649,307
Total deposits $625,426
Interest-bearing deposits $487,739
Deposits held in domestic offices $625,426
% insured (estimated) $81
Federal funds purchased and repurchase agreements $19,729
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $4,152

Issued Loan Types

Type Value (in 000's)
Net loans and leases $336,744
Loan and leases loss allowance $5,201
Total loans and leases (domestic) $341,945
All real estate loans $272,866
Real estate loans in domestic offices $272,866
Construction and development loans $19,278
Residential 1-4 family construction $5,957
Other construction, all land development and other land $13,321
Loans secured by nonfarm nonresidential properties $86,197
Nonfarm nonresidential secured by owner-occupied properties $44,838
Commercial real estate & other non-farm, non-residential $41,359
Multifamily residential real estate $20,598
1-4 family residential loans $123,601
Farmland loans $23,192
Loans held in foreign offices $0
Farm loans $15,221
Commercial and industrial loans $38,653
To non-U.S. addressees $0
Loans to individuals $7,697
Credit card loans $2
Related Plans $60
Consumer Auto Loans $4,243
Other loans to individuals $3,392
All other loans & leases $8,197
Loans to foreign governments and official institutions $0
Other loans $256
Loans to depository institutions and acceptances of other banks $1,250
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $2,575
Non 1-4 family restructured loans & leases $941
Total loans and leases (foreign) $0

FCN Bank had $336,744,000 of loans outstanding in 2021. $272,866,000 of loans were in real estate loans. $19,278,000 of loans were in development loans. $20,598,000 of loans were in multifamily mortgage loans. $123,601,000 of loans were in 1-4 family mortgage loans. $15,221,000 of loans were in farm loans. $2,000 of loans were in credit card loans. $4,243,000 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 176 $30,787 $174,926
Nonfarm, nonresidential loans - <$100k 48 $1,800 $37,500
Nonfarm, nonresidential loans - $100-250k 64 $7,140 $111,563
Nonfarm, nonresidential loans - $250k-1MM 64 $21,847 $341,359
Commercial & Industrial, US addressed loans - <$1MM 274 $21,487 $78,420
Commercial & Industrial, US addressed loans - <$100k 172 $4,609 $26,797
Commercial & Industrial, US addressed loans - $100-250k 58 $5,601 $96,569
Commercial & Industrial, US addressed loans - $250k-1MM 44 $11,277 $256,295
Farmland loans - <$1MM 124 $15,361 $123,879
Farmland loans - <$100k 40 $1,419 $35,475
Farmland loans - $100-250k 51 $5,219 $102,333
Farmland loans - $250k-1MM 33 $8,723 $264,333
Agriculture operations loans - <$1MM 90 $6,095 $67,722
Agriculture operations loans - <$100k 65 $1,575 $24,231
Agriculture operations loans - $100-250k 15 $2,048 $136,533
Agriculture operations loans - $250k-1MM 10 $2,472 $247,200