Heartland Bank Mortgage Rates, Fees & Info

Whitehall, OH

LEI: 549300Y7OEG60MGTKK54

Tax ID: 31-4159950

5 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Heartland Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Heartland Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Columbus, Cincinnati, Cape Coral, Miami, and Mount Vernon among others. Heartland 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. Heartland Bank is typically an average fee lendor.


Originations

824

Origination Dollar Volume (All Markets)

$252,820,000

Employee count

276

Awards

Heartland Bank VA Loans bronze
Show all (1) awards

Relative Rate

Heartland Bank's average 30 year fixed rate mortgage of loans were 3.19%.

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

This yields a difference of 0.04%.

Relative Fees

Heartland Bank's average total fees for a 30 year fixed rate mortgage are $3,744.

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
COLUMBUS, OH (FHA|USDA|VA) 422 $136,340,000 $323,081 $3,587 3.29%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 324 $83,960,000 $259,136 $2,972 3.08%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $5,210,000 $1,302,500 $4,238 2.97%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $3,775,000 $3,775,000 $4,959 2.50%
Mount Vernon, OH (FHA|USDA|VA) 9 $2,125,000 $236,111 $2,661 3.01%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $2,040,000 $1,020,000 $3,829 3.13%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 4 $1,680,000 $420,000 $2,279 3.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $1,325,000 $1,325,000 $3,007 3.00%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 4 $1,250,000 $312,500 $3,496 2.75%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 3 $1,165,000 $388,333 $5,432 3.08%
Ashland, OH (FHA|USDA|VA) 4 $1,030,000 $257,500 $3,985 3.13%
SPRINGFIELD, OH (FHA|USDA|VA) 3 $985,000 $328,333 $3,217 3.75%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $945,000 $945,000 $9,721 2.75%
TOLEDO, OH (FHA|USDA|VA) 2 $820,000 $410,000 $4,419 3.44%
Zanesville, OH (FHA|USDA|VA) 3 $725,000 $241,667 $4,758 3.58%
PITTSBURGH, PA (FHA|USDA|VA) 1 $695,000 $695,000 $6,093 3.50%
KNOXVILLE, TN (FHA|USDA|VA) 2 $690,000 $345,000 $3,182 2.94%
Bellefontaine, OH (FHA|USDA|VA) 1 $625,000 $625,000 $3,462 3.25%
Outside of Metro Areas 4 $610,000 $152,500 $2,212 4.31%
AKRON, OH (FHA|USDA|VA) 2 $540,000 $270,000 $3,371 2.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $505,000 $505,000 $3,623 2.88%
DAYTON-KETTERING, OH (FHA|USDA|VA) 3 $465,000 $155,000 $2,868 2.96%
Ashtabula, OH (FHA|USDA|VA) 2 $460,000 $230,000 $5,462 3.13%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $455,000 $455,000 $3,515 3.50%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $395,000 $395,000 $3,620 3.00%
Celina, OH (FHA|USDA|VA) 1 $335,000 $335,000 $0 3.75%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $335,000 $335,000 $3,311 3.13%
Seneca, SC (FHA|USDA|VA) 1 $325,000 $325,000 $2,614 2.75%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $295,000 $295,000 $4,989 3.00%
Portsmouth, OH (FHA|USDA|VA) 1 $285,000 $285,000 $3,581 3.00%
Marietta, OH (FHA|USDA|VA) 1 $275,000 $275,000 $3,614 3.00%
Wooster, OH (FHA|USDA|VA) 1 $275,000 $275,000 $3,328 3.25%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $255,000 $255,000 $1,949 2.88%
Washington Court House, OH (FHA|USDA|VA) 1 $255,000 $255,000 $3,504 3.13%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $250,000 $125,000 $2,534 3.19%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $225,000 $225,000 $2,055 2.88%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $165,000 $165,000 $3,147 2.75%
Traverse City, MI (FHA|USDA|VA) 1 $165,000 $165,000 $1,992 3.00%
Norwalk, OH (FHA|USDA|VA) 1 $155,000 $155,000 $2,897 2.88%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $135,000 $135,000 $2,225 2.25%
Sidney, OH (FHA|USDA|VA) 1 $125,000 $125,000 $3,439 3.13%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $115,000 $115,000 $3,602 2.88%
Cambridge, OH (FHA|USDA|VA) 1 $35,000 $35,000 $0 4.99%

Heartland Bank's top markets include Columbus, Cincinnati, Cape Coral, Miami, and Mount Vernon among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 799 $244,365,000 $305,839 $3,275 3.20%
VA 13 $3,505,000 $269,615 $5,192 2.69%
FHA 6 $930,000 $155,000 $5,400 2.83%
USDA 6 $4,020,000 $670,000 $4,380 3.10%

For the 2021 period, Heartland Bank's most frequently originated loan type of loans were Conventional, with 799 originations. Their 2nd most popular type is VA, with 13 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 346 $126,200,000 $364,740 $4,344 3.23%
Refi 274 $69,530,000 $253,759 $2,556 3.06%
Cash Out Refi 198 $56,630,000 $286,010 $2,808 3.22%
Home Improvement 3 $385,000 $128,333 $300 6.08%
Other 3 $75,000 $25,000 $691 6.58%

For the 2021, Heartland Bank's most frequently cited loan purpose of loans were Home Purchase, with 346 originations. The 2nd most popular reason of loans were Refi, with 274 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 565 $189,815,000 $335,956 $3,744 3.19%
15 Year 162 $32,840,000 $202,716 $2,619 2.87%
10 Year 48 $19,310,000 $402,292 $1,126 3.65%
20 Year 30 $5,600,000 $186,667 $1,894 3.44%
Other 11 $3,495,000 $317,727 $3,520 3.67%
5 Year 5 $915,000 $183,000 $993 5.50%
3 Year 2 $130,000 $65,000 $0 6.63%
30+ year 1 $715,000 $715,000 $9,179 2.88%

For the 2021, Heartland Bank's most frequently cited loan length of loans were 30 Year, with 565 originations. The 2nd most popular length of loans were 15 Year, with 162 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 626 $174,940,000 $279,457
$1k-2k 37 $8,075,000 $218,243
$3k-4k 35 $17,275,000 $493,571
$5k+ 11 $15,305,000 $1,391,364
$2k-3k 9 $3,585,000 $398,333

$3,744 of loans were Heartland Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 626 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 330 $109,840,000 $332,848
3-4% 321 $95,755,000 $298,302
<2.5% 102 $25,290,000 $247,941
4-5% 56 $20,450,000 $365,179
5-6% 9 $1,245,000 $138,333
6-7% 3 $155,000 $51,667
7-8% 3 $85,000 $28,333

During 2021, Heartland Bank's average interest rate of loans were 3.19%, while their most frequently originated rate bucket of loans were 2.5-3%, with 330 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 315 $89,715,000 $284,810 $3,209 3.11%
$100k-200k 288 $42,980,000 $149,236 $2,585 3.21%
$400k-600k 83 $39,885,000 $480,542 $4,240 3.07%
$100,000 or less 76 $5,100,000 $67,105 $1,626 3.60%
$600k-1MM 40 $29,790,000 $744,750 $6,198 3.09%
$1MM+ 22 $45,350,000 $2,061,364 $10,795 3.29%

2021 saw Heartland Bank place emphasis on $200k-400k loans with 315 originations, totaling $89,715,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 195 $49,325,000 $252,949 $3,147 3.07%
$150k-250k 148 $50,980,000 $344,459 $3,729 3.13%
$50k-75k 147 $27,005,000 $183,707 $2,891 3.14%
$250k+ 101 $67,095,000 $664,307 $5,685 3.22%
$75k-100k 101 $20,355,000 $201,535 $2,950 3.09%
$50k or less 77 $10,455,000 $135,779 $2,505 3.26%

Heartland Bank lent most frequently to those with incomes in the $100k-150k range, with 195 originations. The second most popular income band? $150k-250k, with 148 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 217 $62,535,000 $288,180 $3,300 3.07%
30-36% 163 $46,705,000 $286,534 $3,114 3.12%
<20% 99 $30,035,000 $303,384 $3,329 2.99%
42% 38 $9,940,000 $261,579 $3,776 3.11%
40% 32 $12,250,000 $382,813 $4,087 3.13%
43% 28 $11,520,000 $411,429 $3,001 3.29%
44% 27 $9,435,000 $349,444 $3,588 3.14%
36% 26 $6,830,000 $262,692 $3,389 3.36%
38% 25 $7,795,000 $311,800 $3,578 3.21%
37% 24 $6,330,000 $263,750 $2,887 3.13%
41% 22 $5,100,000 $231,818 $3,530 3.43%
39% 21 $6,805,000 $324,048 $4,152 3.38%
48% 18 $4,690,000 $260,556 $3,184 2.97%
45% 16 $3,640,000 $227,500 $3,302 3.17%
47% 11 $2,865,000 $260,455 $2,959 3.15%
46% 10 $2,090,000 $209,000 $3,026 2.95%
50-60% 8 $1,560,000 $195,000 $4,579 3.52%
49% 5 $1,085,000 $217,000 $2,601 3.18%
>60% 3 $685,000 $228,333 $1,675 4.75%

Heartland Bank lent most frequently to those with DTI ratios of 20-30%, with 217 originations. The next most common DTI ratio? 30-36%, with 163 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 667 $198,025,000 $296,889 $3,342 3.12%
Not provided 103 $27,425,000 $266,262 $3,314 3.33%
Not applicable 24 $19,640,000 $818,333 $2,854 4.75%
Black 17 $4,365,000 $256,765 $3,196 3.20%
Asian 8 $2,540,000 $317,500 $2,950 2.94%
American Indian 3 $535,000 $178,333 $3,727 2.63%
Chinese 1 $165,000 $165,000 $2,329 3.13%
Asian Indian 1 $125,000 $125,000 $5,796 2.25%

Approval Rates

Total approvals of all applications
94.87%

Heartland Bank has an average approval rate.

Pick Rate

Approvals leading to origination
81.29%

Heartland Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 824 $252,820,000 $306,820

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
824 $252,820,000 $306,820

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 55 $8,425,000 $153,182 $2,347 3.02%
40-60% 158 $28,420,000 $179,873 $2,547 3.01%
60-80% 387 $142,955,000 $369,393 $3,416 3.23%
80-100% 206 $71,090,000 $345,097 $4,221 3.21%
Under 20% 17 $1,585,000 $93,235 $973 4.31%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Heartland Bank 6000 Riverside Drive Dublin, OH 43017 Limited, Mobile/Seasonal Office $14,507
Heartland Bank 602 South Fort Thomas Avenue Fort Thomas, KY 41075 Full Service B&M $17,746
Heartland Bank 6500 Frantz Road Dublin, OH 43017 Full Service B&M $87,014
Heartland Bank 67 North Stygler Road Gahanna, OH 43230 Full Service B&M $61,766
Heartland Bank 6887 East Main Stret Reynoldsburg, OH 43068 Full Service B&M $62,717
Heartland Bank 730 West Coshocton St Johnstown, OH 43031 Full Service B&M $102,358
Heartland Bank 850 North Hamilton Road Gahanna, OH 43230 Full Service B&M $148,328
Heartland Bank 8735 Us 42 Florence, KY 41042 Full Service B&M $47,889
Heartland Bank 101 South High Street Columbus, OH 43215 Full Service B&M $63,093
Heartland Bank 130 North Wilson Road Columbus, OH 43204 Full Service B&M $53,007
Heartland Bank 165 Highbluffs Blvd Columbus, OH 43235 Limited, Mobile/Seasonal Office $9,630
Heartland Bank 1800 West Lane Avenue Upper Arlington, OH 43221 Full Service B&M $63,959
Heartland Bank 2365 Old Stringtown Rd Grove City, OH 43123 Full Service B&M $121,120
Heartland Bank 2500 Chamber Center Drive, Suite 100 Fort Mitchell, KY 41017 Full Service B&M $77,772
Heartland Bank 3971 Main St Hilliard, OH 43026 Full Service B&M $52,629
Heartland Bank 421 Hill Road North Pickerington, OH 43147 Full Service B&M $40,513
Heartland Bank 430 N Hamilton Rd Whitehall, OH 43213 Full Service B&M $76,099
Heartland Bank 44 West Locust Street Newark, OH 43055 Full Service B&M $74,506
Heartland Bank 4476 North High Street Columbus, OH 43214 Full Service B&M $46,279
Heartland Bank 450 South State Street Westerville, OH 43081 Full Service B&M $84,516
Heartland Bank 5800 Forest Hills Blvd Columbus, OH 43231 Limited, Mobile/Seasonal Office $5,607

For 2021, Heartland Bank had 21 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $55,262
Net interest income $51,549
Total noninterest income $11,665
Gross Fiduciary activities income $0
Service charges on deposit accounts $947
Trading account gains and fees $0
Additional Noninterest Income $10,718
Pre-tax net operating income $24,498
Securities gains (or losses, -) $223
Income before extraordinary items $19,827
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $19,827
Minority interest net income $0
Net income $19,827
Sale, conversion, retirement of capital stock, net $138
Net operating income $19,648

Heartland Bank's gross interest income from loans was $55,262,000.
Heartland Bank's net interest income from loans was $51,549,000.
Heartland Bank's fee based income from loans was $947,000.
Heartland Bank's net income from loans was $19,827,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,713
Provision for credit losses $1,920
Total noninterest expense $36,796
Salaries and employee benefits $21,869
Premises and equipment expense $5,262
Additional noninterest expense $9,665
Applicable income taxes $4,894
Net charge-offs $1,102
Cash dividends $6,262

Heartland Bank's interest expense for loans was $3,713,000.
Heartland Bank's payroll and benefits expense were $21,869,000.
Heartland Bank's property, plant and equipment expenses $5,262,000.

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 0.5%
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 $1,268,460
Deposits held in domestic offices $1,268,460
Deposits by Individuals, partnerships, and corporations $1,213,126
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $55,334
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 $130,595
Demand deposits $100,742
Nontransaction accounts $1,137,865
Money market deposit accounts (MMDAs) $276,928
Other savings deposits (excluding MMDAs) $672,746
Total time deposits $188,192
Total time and savings deposits $1,167,718
Noninterest-bearing deposits $483,993
Interest-bearing deposits $784,467
Retail deposits $1,240,185
IRAs and Keogh plan accounts $32,441
Brokered deposits $23
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,464,528
Cash & Balances due from depository institutions $64,024
Interest-bearing balances $53,779
Total securities $156,554
Federal funds sold & reverse repurchase $0
Net loans and leases $1,160,674
Loan and leases loss allowance $14,965
Trading account assets $0
Bank premises and fixed assets $31,972
Other real estate owned $5
Goodwill and other intangibles $14,971
All other assets $36,328

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,464,528
Total Liabilities $1,297,702
Total deposits $1,268,460
Interest-bearing deposits $784,467
Deposits held in domestic offices $1,268,460
% insured (estimated) $53
Federal funds purchased and repurchase agreements $9,032
Trading liabilities $0
Other borrowed funds $12,000
Subordinated debt $0
All other liabilities $8,210

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,160,674
Loan and leases loss allowance $14,965
Total loans and leases (domestic) $1,175,639
All real estate loans $985,877
Real estate loans in domestic offices $985,877
Construction and development loans $92,566
Residential 1-4 family construction $39,335
Other construction, all land development and other land $53,231
Loans secured by nonfarm nonresidential properties $496,169
Nonfarm nonresidential secured by owner-occupied properties $235,098
Commercial real estate & other non-farm, non-residential $261,071
Multifamily residential real estate $43,973
1-4 family residential loans $324,613
Farmland loans $28,556
Loans held in foreign offices $0
Farm loans $26,081
Commercial and industrial loans $126,379
To non-U.S. addressees $0
Loans to individuals $10,356
Credit card loans $3,677
Related Plans $14
Consumer Auto Loans $2,308
Other loans to individuals $4,357
All other loans & leases $26,946
Loans to foreign governments and official institutions $0
Other loans $2,219
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 $5,119
Non 1-4 family restructured loans & leases $4,799
Total loans and leases (foreign) $0

Heartland Bank had $1,160,674,000 of loans outstanding in 2021. $985,877,000 of loans were in real estate loans. $92,566,000 of loans were in development loans. $43,973,000 of loans were in multifamily mortgage loans. $324,613,000 of loans were in 1-4 family mortgage loans. $26,081,000 of loans were in farm loans. $3,677,000 of loans were in credit card loans. $2,308,000 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 441 $141,187 $320,152
Nonfarm, nonresidential loans - <$100k 56 $2,943 $52,554
Nonfarm, nonresidential loans - $100-250k 152 $20,948 $137,816
Nonfarm, nonresidential loans - $250k-1MM 233 $117,296 $503,416
Commercial & Industrial, US addressed loans - <$1MM 765 $90,215 $117,928
Commercial & Industrial, US addressed loans - <$100k 418 $12,669 $30,309
Commercial & Industrial, US addressed loans - $100-250k 167 $20,497 $122,737
Commercial & Industrial, US addressed loans - $250k-1MM 180 $57,049 $316,939
Farmland loans - <$1MM 92 $7,218 $78,457
Farmland loans - <$100k 16 $506 $31,625
Farmland loans - $100-250k 32 $1,950 $60,938
Farmland loans - $250k-1MM 44 $4,762 $108,227
Agriculture operations loans - <$1MM 100 $10,949 $109,490
Agriculture operations loans - <$100k 55 $1,521 $27,655
Agriculture operations loans - $100-250k 23 $2,772 $120,522
Agriculture operations loans - $250k-1MM 22 $6,656 $302,545