Independent Bank Mortgage Rates, Fees & Info

Mckinney, TX

LEI: 549300YCCZTMBHGTNQ79

Tax ID: 75-2694563

3.3 stars - out of 5 stars, based on 57 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Independent Bank is a small bank specializing in Home Purchase loans. Independent 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 Dallas, Houston, Austin, Denver, and Greeley among others. Independent 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. Independent Bank is typically an average fee lendor.


Originations

3,225

Origination Dollar Volume (All Markets)

$1,722,475,000

Employee count

1,543

Relative Rate

Independent Bank's average 30 year fixed rate mortgage of loans were 3.36%.

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

This yields a difference of 0.21%.

Relative Fees

Independent Bank's average total fees for a 30 year fixed rate mortgage are $5,851.

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
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1,047 $466,285,000 $445,353 $6,584 3.36%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 461 $292,545,000 $634,588 $6,141 3.88%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 563 $283,995,000 $504,432 $6,828 3.32%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 189 $120,985,000 $640,132 $4,932 3.51%
GREELEY, CO (FHA|USDA|VA) 101 $72,395,000 $716,782 $4,002 3.15%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 23 $63,555,000 $2,763,261 $6,577 3.49%
FORT COLLINS, CO (FHA|USDA|VA) 115 $52,035,000 $452,478 $3,643 3.12%
Outside of Metro Areas 85 $41,155,000 $484,176 $6,246 3.47%
COLORADO SPRINGS, CO (FHA|USDA|VA) 110 $34,270,000 $311,545 $5,517 3.44%
SHERMAN-DENISON, TX (FHA|USDA|VA) 131 $31,205,000 $238,206 $5,434 3.82%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $28,060,000 $14,030,000 $0 3.88%
WACO, TX (FHA|USDA|VA) 58 $27,770,000 $478,793 $5,048 3.48%
Gainesville, TX (FHA|USDA|VA) 32 $12,530,000 $391,563 $6,459 3.37%
BOULDER, CO (FHA|USDA|VA) 13 $12,225,000 $940,385 $8,471 3.24%
KANSAS CITY, MO-KS (FHA|USDA|VA) 17 $11,285,000 $663,824 $2,795 3.99%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 7 $11,025,000 $1,575,000 $4,622 3.30%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $7,125,000 $7,125,000 $0 3.60%
SIOUX FALLS, SD (FHA|USDA|VA) 2 $6,570,000 $3,285,000 $0 3.75%
Durango, CO (FHA|USDA|VA) 2 $6,570,000 $3,285,000 $0 3.64%
Edwards, CO (FHA|USDA|VA) 2 $6,300,000 $3,150,000 $24,637 3.13%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $6,005,000 $6,005,000 $0 3.25%
Alice, TX (FHA|USDA|VA) 1 $5,785,000 $5,785,000 $0 3.75%
Glenwood Springs, CO (FHA|USDA|VA) 3 $5,155,000 $1,718,333 $5,642 3.04%
Steamboat Springs, CO (FHA|USDA|VA) 4 $5,010,000 $1,252,500 $8,321 3.06%
AMARILLO, TX (FHA|USDA|VA) 1 $4,905,000 $4,905,000 $0 3.88%
Bay City, TX (FHA|USDA|VA) 2 $4,330,000 $2,165,000 $0 3.94%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 4 $4,160,000 $1,040,000 $0 4.04%
Athens, TX (FHA|USDA|VA) 6 $3,910,000 $651,667 $12,814 3.81%
COLUMBUS, OH (FHA|USDA|VA) 1 $3,805,000 $3,805,000 $0 3.95%
Sterling, CO (FHA|USDA|VA) 16 $3,760,000 $235,000 $4,576 3.09%
Bonham, TX (FHA|USDA|VA) 10 $3,500,000 $350,000 $5,895 3.75%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $3,370,000 $1,685,000 $3,613 3.13%
URBAN HONOLULU, HI (FHA|USDA|VA) 1 $3,305,000 $3,305,000 $0 3.75%
LONGVIEW, TX (FHA|USDA|VA) 4 $3,150,000 $787,500 $4,248 3.66%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $3,095,000 $3,095,000 $0 3.80%
Granbury, TX (FHA|USDA|VA) 12 $3,040,000 $253,333 $4,400 3.30%
OKLAHOMA CITY, OK (FHA|USDA|VA) 2 $2,850,000 $1,425,000 $10,264 3.91%
CORPUS CHRISTI, TX (FHA|USDA|VA) 13 $2,645,000 $203,462 $6,813 3.88%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 6 $2,620,000 $436,667 $3,684 2.90%
Taos, NM (FHA|USDA|VA) 2 $2,550,000 $1,275,000 $3,251 3.19%
Rockport, TX (FHA|USDA|VA) 5 $2,455,000 $491,000 $7,176 3.10%
Heber, UT (FHA|USDA|VA) 2 $2,340,000 $1,170,000 $0 4.08%
Fredericksburg, TX (FHA|USDA|VA) 6 $2,320,000 $386,667 $4,616 3.77%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $2,280,000 $1,140,000 $0 3.63%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $2,255,000 $2,255,000 $0 4.25%
SANTA FE, NM (FHA|USDA|VA) 3 $2,145,000 $715,000 $8,394 3.54%
Breckenridge, CO (FHA|USDA|VA) 3 $2,095,000 $698,333 $3,553 3.25%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 1 $2,035,000 $2,035,000 $0 4.25%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 9 $1,935,000 $215,000 $4,204 3.32%
Sevierville, TN (FHA|USDA|VA) 4 $1,860,000 $465,000 $6,655 3.31%
PUEBLO, CO (FHA|USDA|VA) 6 $1,840,000 $306,667 $4,930 3.35%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $1,730,000 $865,000 $0 3.95%
LUBBOCK, TX (FHA|USDA|VA) 6 $1,450,000 $241,667 $4,799 3.53%
TYLER, TX (FHA|USDA|VA) 3 $1,305,000 $435,000 $5,694 3.33%
JACKSONVILLE, FL (FHA|USDA|VA) 4 $1,300,000 $325,000 $4,958 2.75%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $1,225,000 $1,225,000 $0 4.25%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 3 $1,005,000 $335,000 $4,329 3.33%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $905,000 $905,000 $10,994 2.50%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $705,000 $705,000 $4,990 3.00%
IDAHO FALLS, ID (FHA|USDA|VA) 5 $705,000 $141,000 $0 4.15%
EL PASO, TX (FHA|USDA|VA) 2 $690,000 $345,000 $5,182 3.19%
ST. LOUIS, MO-IL (FHA|USDA|VA) 3 $675,000 $225,000 $3,205 2.88%
Fort Morgan, CO (FHA|USDA|VA) 3 $675,000 $225,000 $4,528 3.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $620,000 $310,000 $2,784 2.75%
CHEYENNE, WY (FHA|USDA|VA) 2 $610,000 $305,000 $5,223 3.31%
ALBUQUERQUE, NM (FHA|USDA|VA) 2 $600,000 $300,000 $6,546 3.50%
LYNCHBURG, VA (FHA|USDA|VA) 2 $570,000 $285,000 $2,867 3.44%
POCATELLO, ID (FHA|USDA|VA) 4 $550,000 $137,500 $0 4.25%
PITTSBURGH, PA (FHA|USDA|VA) 1 $545,000 $545,000 $8,648 2.50%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $545,000 $545,000 $0 4.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $540,000 $270,000 $5,260 3.00%
Stephenville, TX (FHA|USDA|VA) 2 $530,000 $265,000 $4,914 3.13%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $515,000 $515,000 $6,945 3.38%
KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 3 $515,000 $171,667 $3,285 3.38%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $500,000 $250,000 $5,403 2.94%
Kerrville, TX (FHA|USDA|VA) 2 $470,000 $235,000 $5,647 2.94%
GRAND JUNCTION, CO (FHA|USDA|VA) 1 $465,000 $465,000 $3,222 3.38%
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 2 $460,000 $230,000 $3,413 3.69%
Paris, TX (FHA|USDA|VA) 2 $460,000 $230,000 $7,784 3.13%
VICTORIA, TX (FHA|USDA|VA) 2 $460,000 $230,000 $2,598 3.56%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $450,000 $225,000 $3,830 3.75%
LAREDO, TX (FHA|USDA|VA) 2 $440,000 $220,000 $3,852 3.06%
Del Rio, TX (FHA|USDA|VA) 2 $430,000 $215,000 $6,236 2.75%
MISSOULA, MT (FHA|USDA|VA) 1 $425,000 $425,000 $12,346 5.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $425,000 $425,000 $2,895 3.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $415,000 $415,000 $2,126 2.75%
Minot, ND (FHA|USDA|VA) 1 $375,000 $375,000 $6,183 2.88%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $355,000 $355,000 $6,166 2.88%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $355,000 $355,000 $3,921 3.38%
MIDLAND, TX (FHA|USDA|VA) 1 $335,000 $335,000 $5,307 2.88%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $335,000 $335,000 $0 4.13%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $330,000 $165,000 $3,217 3.06%
Durant, OK (FHA|USDA|VA) 1 $325,000 $325,000 $3,604 3.50%
Blackfoot, ID (FHA|USDA|VA) 2 $320,000 $160,000 $0 4.25%
Traverse City, MI (FHA|USDA|VA) 1 $315,000 $315,000 $3,601 3.63%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 2 $300,000 $150,000 $4,216 2.63%
TUCSON, AZ (FHA|USDA|VA) 2 $280,000 $140,000 $4,358 3.50%
ANN ARBOR, MI (FHA|USDA|VA) 1 $275,000 $275,000 $0 3.50%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $265,000 $265,000 $3,850 3.38%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $245,000 $245,000 $3,661 3.13%
Montrose, CO (FHA|USDA|VA) 1 $245,000 $245,000 $0 4.00%
Nacogdoches, TX (FHA|USDA|VA) 1 $245,000 $245,000 $8,753 3.25%
CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $235,000 $235,000 $3,744 3.25%
TULSA, OK (FHA|USDA|VA) 1 $235,000 $235,000 $5,327 3.38%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $235,000 $235,000 $3,272 3.38%
Sulphur Springs, TX (FHA|USDA|VA) 1 $225,000 $225,000 $2,967 2.25%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $225,000 $225,000 $5,239 3.00%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 2 $220,000 $110,000 $4,602 3.88%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $205,000 $205,000 $0 4.38%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,374 3.25%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $205,000 $205,000 $3,263 2.75%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $195,000 $195,000 $3,342 2.50%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $195,000 $195,000 $3,617 3.38%
Palestine, TX (FHA|USDA|VA) 1 $185,000 $185,000 $4,961 3.38%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $175,000 $175,000 $0 3.88%
Roseburg, OR (FHA|USDA|VA) 1 $175,000 $175,000 $4,600 3.63%
ODESSA, TX (FHA|USDA|VA) 1 $165,000 $165,000 $7,069 3.25%
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) 2 $160,000 $80,000 $4,235 3.50%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $155,000 $155,000 $7,770 3.00%
WILMINGTON, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,507 3.00%
Garden City, KS (FHA|USDA|VA) 1 $155,000 $155,000 $2,736 2.63%
Harrison, AR (FHA|USDA|VA) 1 $155,000 $155,000 $2,516 2.75%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.75%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $145,000 $145,000 $3,740 2.75%
LAWTON, OK (FHA|USDA|VA) 1 $125,000 $125,000 $6,206 3.25%
Pampa, TX (FHA|USDA|VA) 1 $125,000 $125,000 $4,263 2.63%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $125,000 $125,000 $2,797 2.88%
Branson, MO (FHA|USDA|VA) 1 $115,000 $115,000 $2,488 3.13%
Batesville, AR (FHA|USDA|VA) 1 $105,000 $105,000 $3,670 3.88%
Ardmore, OK (FHA|USDA|VA) 1 $105,000 $105,000 $5,682 3.75%
SAN ANGELO, TX (FHA|USDA|VA) 1 $105,000 $105,000 $0 4.25%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 1 $105,000 $105,000 $3,676 2.63%
Searcy, AR (FHA|USDA|VA) 1 $105,000 $105,000 $3,277 3.63%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $105,000 $105,000 $2,901 2.88%

Independent Bank's top markets include Dallas, Houston, Austin, Denver, and Greeley among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,951 $1,643,925,000 $557,074 $5,673 3.48%
FHA 195 $50,015,000 $256,487 $9,498 3.36%
VA 67 $25,665,000 $383,060 $7,680 2.77%
USDA 12 $2,870,000 $239,167 $7,252 3.07%

For the 2021 period, Independent Bank's most frequently originated loan type of loans were Conventional, with 2,951 originations. Their 2nd most popular type is FHA, with 195 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,965 $1,156,435,000 $588,517 $7,153 3.68%
Refi 690 $331,860,000 $480,957 $4,168 2.95%
Cash Out Refi 471 $208,475,000 $442,622 $5,265 3.25%
Other 51 $15,435,000 $302,647 $5,208 3.30%
Home Improvement 48 $10,270,000 $213,958 $4,163 4.04%

For the 2021, Independent Bank's most frequently cited loan purpose of loans were Home Purchase, with 1,965 originations. The 2nd most popular reason of loans were Refi, with 690 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,129 $722,955,000 $339,575 $5,851 3.36%
15 Year 257 $82,415,000 $320,681 $4,507 2.83%
Other 233 $229,635,000 $985,558 $11,139 3.85%
5 Year 207 $346,295,000 $1,672,923 $8,481 4.08%
1 Year 146 $65,040,000 $445,479 $13,168 4.21%
10 Year 141 $144,245,000 $1,023,014 $7,113 3.85%
20 Year 91 $23,855,000 $262,143 $4,049 3.18%
3 Year 21 $108,035,000 $5,144,524 $0 3.83%

For the 2021, Independent Bank's most frequently cited loan length of loans were 30 Year, with 2,129 originations. The 2nd most popular length of loans were 15 Year, with 257 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,701 $555,645,000 $326,658
$2k-3k 256 $78,500,000 $306,641
$3k-4k 222 $83,140,000 $374,505
$5k+ 162 $176,480,000 $1,089,383
$<1k 71 $17,275,000 $243,310

$5,851 of loans were Independent Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,701 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 1,586 $1,055,800,000 $665,700
2.5-3% 906 $358,420,000 $395,607
4-5% 368 $205,040,000 $557,174
<2.5% 236 $76,570,000 $324,449
6-7% 86 $19,260,000 $223,953
7-8% 33 $6,505,000 $197,121
5-6% 10 $880,000 $88,000

During 2021, Independent Bank's average interest rate of loans were 3.36%, while their most frequently originated rate bucket of loans were 3-4%, with 1,586 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,464 $417,060,000 $284,877 $5,522 3.33%
$100k-200k 681 $106,035,000 $155,705 $4,340 3.69%
$400k-600k 549 $267,855,000 $487,896 $6,320 3.20%
$1MM+ 225 $790,515,000 $3,513,400 $18,209 3.73%
$600k-1MM 173 $131,485,000 $760,029 $9,046 3.73%
$100,000 or less 133 $9,525,000 $71,617 $3,138 3.99%

2021 saw Independent Bank place emphasis on $200k-400k loans with 1,464 originations, totaling $417,060,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 566 $182,090,000 $321,714 $5,392 3.24%
$150k-250k 540 $204,330,000 $378,389 $5,722 3.14%
$50k-75k 503 $115,615,000 $229,851 $5,470 3.59%
$250k+ 408 $314,100,000 $769,853 $10,300 3.39%
$75k-100k 407 $107,755,000 $264,754 $5,632 3.36%
$50k or less 254 $43,670,000 $171,929 $4,678 3.47%

Independent Bank lent most frequently to those with incomes in the $100k-150k range, with 566 originations. The second most popular income band? $150k-250k, with 540 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 556 $206,270,000 $370,989 $5,713 3.22%
30-36% 482 $167,960,000 $348,465 $5,848 3.40%
<20% 234 $110,420,000 $471,880 $6,623 3.19%
42% 137 $46,585,000 $340,036 $5,557 3.48%
41% 125 $40,185,000 $321,480 $5,289 3.45%
39% 118 $43,240,000 $366,441 $6,735 3.71%
43% 108 $34,440,000 $318,889 $5,425 3.22%
40% 105 $40,555,000 $386,238 $6,024 3.43%
37% 102 $36,540,000 $358,235 $6,109 3.57%
44% 101 $29,095,000 $288,069 $6,137 3.29%
36% 91 $38,475,000 $422,802 $5,982 3.34%
38% 88 $33,940,000 $385,682 $6,669 3.38%
48% 85 $26,465,000 $311,353 $6,093 3.22%
45% 74 $22,030,000 $297,703 $6,293 3.26%
46% 69 $19,775,000 $286,594 $5,324 3.28%
49% 68 $22,880,000 $336,471 $6,800 3.21%
50-60% 65 $20,835,000 $320,538 $8,156 3.38%
47% 59 $16,935,000 $287,034 $5,679 3.26%
>60% 20 $12,570,000 $628,500 $11,362 4.46%

Independent Bank lent most frequently to those with DTI ratios of 20-30%, with 556 originations. The next most common DTI ratio? 30-36%, with 482 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,058 $750,000,000 $364,431 $5,905 3.36%
Not applicable 496 $718,920,000 $1,449,435 $13,523 4.10%
Not provided 451 $165,685,000 $367,373 $6,104 3.28%
Asian 121 $52,355,000 $432,686 $7,877 3.26%
Black 61 $24,855,000 $407,459 $8,105 3.17%
American Indian 22 $4,820,000 $219,091 $5,444 4.14%
Other Asian 10 $4,040,000 $404,000 $5,751 2.85%
Asian Indian 2 $990,000 $495,000 $6,947 3.38%
Native Hawaiian 2 $510,000 $255,000 $8,013 2.94%
Native Hawiian 1 $185,000 $185,000 $4,178 3.13%
Other Pacific Islander 1 $115,000 $115,000 $3,620 3.00%

Approval Rates

Total approvals of all applications
97.35%

Independent Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
81.55%

Independent Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 3,225 $1,722,475,000 $534,101

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,225 $1,722,475,000 $534,101

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 187 $73,125,000 $391,043 $4,192 3.23%
40-60% 557 $362,055,000 $650,009 $5,218 3.24%
60-80% 1,376 $871,850,000 $633,612 $6,114 3.50%
80-100% 1,038 $381,160,000 $367,206 $6,623 3.56%
Over 100% 13 $4,585,000 $352,692 $12,829 2.87%
Under 20% 54 $29,700,000 $550,000 $4,004 3.61%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
INDEPENDENT BANK CORP. Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 2 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Independent Bank 1503 Rivery Blvd. Georgetown, TX 78628 Full Service B&M $193,389
Independent Bank 1050 So. Hover St., #202 Longmont, CO 80501 Full Service B&M $69,027
Independent Bank 1051 Fm 1960 Rd West Houston, TX 77090 Full Service B&M $250,685
Independent Bank 1109 E. Mccart Street Krum, TX 76249 Full Service B&M $49,144
Independent Bank 11250 Sthy 290 East Manor, TX 78653 Full Service B&M $99,032
Independent Bank 11806 Oswego Street Englewood, CO 80112 Full Service B&M $45,957
Independent Bank 1197 West 120th Avenue Westminster, CO 80234 Full Service B&M $39,101
Independent Bank 1210 E. Mulberry Street Fort Collins, CO 80524 Full Service B&M $62,046
Independent Bank 1270 W. Stephens Van Alstyne, TX 75495 Full Service B&M $85,388
Independent Bank 1300 South University Drive Fort Worth, TX 76107 Full Service B&M $188,901
Independent Bank 1300 Walnut Street Boulder, CO 80302 Full Service B&M $166,404
Independent Bank 1331 17th Street Denver, CO 80202 Full Service B&M $429,652
Independent Bank 1401 S Taft Loveland, CO 80537 Full Service B&M $65,964
Independent Bank 1490 Princeton Oaks Drive Princeton, TX 75407 Full Service B&M $47,552
Independent Bank 290 S. Preston Road Celina, TX 75009 Full Service B&M $233,627
Independent Bank 300 E. Taylor Sherman, TX 75091 Full Service B&M $166,928
Independent Bank 300 East 29th Street Loveland, CO 80538 Full Service B&M $184,053
Independent Bank 303 East Mountain Avenue Fort Collins, CO 80524 Full Service B&M $145,445
Independent Bank 3060 Ridge Road Rockwall, TX 75087 Full Service B&M $46,890
Independent Bank 3090 Craig Dr Mckinney, TX 75070 Full Service B&M $273,120
Independent Bank 3206 Live Oak Dallas, TX 75204 Full Service B&M $119,220
Independent Bank 3209 Ranch Road 620 South Austin, TX 78738 Full Service B&M $147,260
Independent Bank 3301 East 1st Avenue Denver, CO 80206 Full Service B&M $415,924
Independent Bank 3301 Fall Creek Hwy Acton, TX 76049 Full Service B&M $35,614
Independent Bank 3301 Teasley Lane Denton, TX 76205 Full Service B&M $48,018
Independent Bank 331 West Main Street Denison, TX 75021 Full Service B&M $89,731
Independent Bank 3900 Essex Lane Suite 100 Houston, TX 77027 Full Service B&M $135,391
Independent Bank 538 North Highway 36 Byers, CO 80103 Full Service B&M $49,701
Independent Bank 5401 Bosque Blvd Waco, TX 76710 Full Service B&M $181,811
Independent Bank 543 W. Main Street Lewisville, TX 75057 Full Service B&M $162,808
Independent Bank 56540 East Colfax Avenue Strasburg, CO 80136 Full Service B&M $61,376
Independent Bank 5950 S. Willow Drive Greenwood Village, CO 80111 Full Service B&M $130,866
Independent Bank 6025 Crenshaw Road Pasadena, TX 77501 Full Service B&M $46,643
Independent Bank 6044 Sherry Lane Dallas, TX 75225 Full Service B&M $149,692
Independent Bank 654 N. Denton Tap Road Coppell, TX 75019 Full Service B&M $66,791
Independent Bank 6751 Virginia Parkway Mckinney, TX 75071 Full Service B&M $61,368
Independent Bank 700 South Hwy 377 Pilot Point, TX 76258 Full Service B&M $113,354
Independent Bank 715 Highway 377 North Collinsville, TX 76233 Full Service B&M $87,417
Independent Bank 750 Bering Drive, Suite 100 Houston, TX 77057 Full Service B&M $195,899
Independent Bank 100 Oak Avenue Eaton, CO 80615 Full Service B&M $39,783
Independent Bank 100 South Denny Street Howe, TX 75459 Full Service B&M $78,152
Independent Bank 100 South Old Town Argyle, TX 76226 Full Service B&M $145,539
Independent Bank 1002 Texan Trail Grapevine, TX 76051 Full Service B&M $88,230
Independent Bank 1009 N. State Hwy. 78 Lavon, TX 75166 Full Service B&M $127,088
Independent Bank 101 S. Powell Parkway Anna, TX 75409 Full Service B&M $180,844
Independent Bank 101 West Centennial Drive Bennett, CO 80102 Full Service B&M $42,096
Independent Bank 101 Westlake Dr., Suite 110 Austin, TX 78746 Full Service B&M $61,106
Independent Bank 1011 West 40th St. Austin, TX 78756 Full Service B&M $246,161
Independent Bank 102 South Johnson Street Farmersville, TX 75442 Limited, Drive-thru $0
Independent Bank 104 North Nolan River Road Cleburne, TX 76031 Full Service B&M $64,704
Independent Bank 2100 Fm 407 Lewisville, TX 75077 Full Service B&M $159,034
Independent Bank 2100 Mckinney Ave Suite 1200 Dallas, TX 75201 Full Service B&M $145,667
Independent Bank 223 Mckinney Farmersville, TX 75442 Full Service B&M $159,245
Independent Bank 229 Eldorado Parkway Little Elm, TX 75068 Full Service B&M $133,728
Independent Bank 2337 South Shields Street Fort Collins, CO 80526 Full Service B&M $27,598
Independent Bank 2661 Royal Forest Drive, Suite B100 Kingwood, TX 77339 Full Service B&M $160,184
Independent Bank 2695 West Eisenhower Blvd Loveland, CO 80537 Full Service B&M $54,171
Independent Bank 2700 47th Ave Greeley, CO 80634 Full Service B&M $176,595
Independent Bank 2701 Dallas Parkway Suite 100 Plano, TX 75093 Full Service B&M $142,294
Independent Bank 2707 E Bromley Lane Brighton, CO 80601 Full Service B&M $108,637
Independent Bank 2829 Technology Forest Boulevard The Woodlands, TX 77381 Full Service B&M $115,786
Independent Bank 2881 Cross Timbers Road Flower Mound, TX 75028 Full Service B&M $38,482
Independent Bank 400 North Carroll Denton, TX 76201 Full Service B&M $260,721
Independent Bank 401 Main Street Longmont, CO 80501 Full Service B&M $243,180
Independent Bank 4040 Washington Avenue Houston, TX 77007 Full Service B&M $250,432
Independent Bank 4120 Bellaire Blvd. Houston, TX 77025 Full Service B&M $134,646
Independent Bank 440 Chapel Hills Drive Colorado Springs, CO 80920 Full Service B&M $26,188
Independent Bank 4420 Sunrise Road Round Rock, TX 78664 Full Service B&M $314,159
Independent Bank 4605 W Broadway Pearland, TX 77581 Full Service B&M $161,824
Independent Bank 500 S. Morgan Street Granbury, TX 76048 Full Service B&M $68,256
Independent Bank 501 South Tejon Colorado Springs, CO 80903 Full Service B&M $77,109
Independent Bank 501 Wilcox Castle Rock, CO 80104 Full Service B&M $182,590
Independent Bank 5025 Kipling Street Wheat Ridge, CO 80033 Full Service B&M $87,251
Independent Bank 506 Castle Pines North Pkwy Castle Pines, CO 80108 Full Service B&M $34,824
Independent Bank 5100 South Stemmons Freeway Corinth, TX 76210 Full Service B&M $62,092
Independent Bank 7777 Henneman Way Mckinney, TX 75070 Full Service B&M $2,886,157
Independent Bank 7979 East Tufts Avenue, Suite 850 Denver, CO 80237 Full Service B&M $0
Independent Bank 8004 Woodway Drive Waco, TX 76712 Full Service B&M $256,245
Independent Bank 807 Mountain Avenue Berthoud, CO 80513 Full Service B&M $274,686
Independent Bank 808 Katy Fort Bend Road Katy, TX 77494 Full Service B&M $40,769
Independent Bank 900 N. Preston Rd. Prosper, TX 75078 Full Service B&M $69,673
Independent Bank 930 11th Avenue Greeley, CO 80631 Full Service B&M $31,772
Independent Bank 935 N. Cleveland Loveland, CO 80537 Full Service B&M $177,537
Independent Bank 9601 Katy Freeway Houston, TX 77024 Full Service B&M $120,801
Independent Bank 1515 Fm 1960 East Bypass Humble, TX 77338 Full Service B&M $103,256
Independent Bank 155 Lake Avenue Colorado Springs, CO 80906 Full Service B&M $126,916
Independent Bank 1550 East Harmony Road Fort Collins, CO 80525 Full Service B&M $112,311
Independent Bank 16000 Dallas Parkway, Suite 125 Dallas, TX 75254 Full Service B&M $568,813
Independent Bank 1650 N. Central Expressway Mckinney, TX 75069 Full Service B&M $131,024
Independent Bank 1650 Pace Street Longmont, CO 80504 Full Service B&M $64,480
Independent Bank 16800 West Colfax Avenue Golden, CO 80401 Full Service B&M $75,974
Independent Bank 19855 Southwest Freeway, Suite 100 Sugar Land, TX 77479 Full Service B&M $75,605
Independent Bank 2004 South Stemmons Freeway Lake Dallas, TX 75065 Full Service B&M $107,369
Independent Bank 201 East Kaufman Street Rockwall, TX 75087 Full Service B&M $173,198
Independent Bank 201 West Ellison Street Burleson, TX 76028 Full Service B&M $136,371

For 2021, Independent Bank had 95 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $583,540
Net interest income $537,303
Total noninterest income $66,435
Gross Fiduciary activities income $0
Service charges on deposit accounts $9,842
Trading account gains and fees $0
Additional Noninterest Income $56,593
Pre-tax net operating income $312,140
Securities gains (or losses, -) $13
Income before extraordinary items $247,539
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $247,539
Minority interest net income $0
Net income $247,539
Sale, conversion, retirement of capital stock, net $0
Net operating income $247,528

Independent Bank's gross interest income from loans was $583,540,000.
Independent Bank's net interest income from loans was $537,303,000.
Independent Bank's fee based income from loans was $9,842,000.
Independent Bank's net income from loans was $247,539,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $46,237
Provision for credit losses $-8,868
Total noninterest expense $300,466
Salaries and employee benefits $169,790
Premises and equipment expense $40,688
Additional noninterest expense $89,988
Applicable income taxes $64,614
Net charge-offs $7,420
Cash dividends $134,500

Independent Bank's interest expense for loans was $46,237,000.
Independent Bank's payroll and benefits expense were $169,790,000.
Independent Bank's property, plant and equipment expenses $40,688,000.

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 2.0%
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 $15,565,323
Deposits held in domestic offices $15,565,323
Deposits by Individuals, partnerships, and corporations $13,474,571
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $2,083,583
Deposits by Commercial banks and other depository institutions in U.S. $7,169
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $8,304,733
Demand deposits $5,832,086
Nontransaction accounts $7,260,590
Money market deposit accounts (MMDAs) $5,433,655
Other savings deposits (excluding MMDAs) $764,651
Total time deposits $1,062,284
Total time and savings deposits $9,733,237
Noninterest-bearing deposits $5,078,003
Interest-bearing deposits $10,487,320
Retail deposits $14,338,695
IRAs and Keogh plan accounts $212,679
Brokered deposits $721,419
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $18,728,746
Cash & Balances due from depository institutions $2,611,580
Interest-bearing balances $2,367,763
Total securities $2,006,727
Federal funds sold & reverse repurchase $0
Net loans and leases $12,322,864
Loan and leases loss allowance $148,706
Trading account assets $0
Bank premises and fixed assets $332,149
Other real estate owned $0
Goodwill and other intangibles $1,069,511
All other assets $385,915

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $18,728,746
Total Liabilities $15,825,129
Total deposits $15,565,323
Interest-bearing deposits $10,487,320
Deposits held in domestic offices $15,565,323
% insured (estimated) $43
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $150,000
Subordinated debt $0
All other liabilities $109,806

Issued Loan Types

Type Value (in 000's)
Net loans and leases $12,322,864
Loan and leases loss allowance $148,706
Total loans and leases (domestic) $12,471,570
All real estate loans $9,613,636
Real estate loans in domestic offices $9,613,636
Construction and development loans $1,565,357
Residential 1-4 family construction $381,518
Other construction, all land development and other land $1,183,839
Loans secured by nonfarm nonresidential properties $6,042,043
Nonfarm nonresidential secured by owner-occupied properties $1,737,609
Commercial real estate & other non-farm, non-residential $4,304,434
Multifamily residential real estate $580,854
1-4 family residential loans $1,329,946
Farmland loans $95,436
Loans held in foreign offices $0
Farm loans $11,102
Commercial and industrial loans $1,722,379
To non-U.S. addressees $0
Loans to individuals $81,594
Credit card loans $0
Related Plans $54,508
Consumer Auto Loans $2,729
Other loans to individuals $24,357
All other loans & leases $1,052,265
Loans to foreign governments and official institutions $0
Other loans $937,790
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $4,445
Loans secured by real estate to non-U.S. addressees $1,109
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Independent Bank had $12,322,864,000 of loans outstanding in 2021. $9,613,636,000 of loans were in real estate loans. $1,565,357,000 of loans were in development loans. $580,854,000 of loans were in multifamily mortgage loans. $1,329,946,000 of loans were in 1-4 family mortgage loans. $11,102,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,729,000 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 2,338 $741,473 $317,140
Nonfarm, nonresidential loans - <$100k 197 $7,357 $37,345
Nonfarm, nonresidential loans - $100-250k 579 $72,101 $124,527
Nonfarm, nonresidential loans - $250k-1MM 1,562 $662,015 $423,825
Commercial & Industrial, US addressed loans - <$1MM 3,783 $347,034 $91,735
Commercial & Industrial, US addressed loans - <$100k 2,150 $49,363 $22,960
Commercial & Industrial, US addressed loans - $100-250k 745 $67,425 $90,503
Commercial & Industrial, US addressed loans - $250k-1MM 888 $230,246 $259,286
Farmland loans - <$1MM 84 $11,569 $137,726
Farmland loans - <$100k 21 $666 $31,714
Farmland loans - $100-250k 33 $3,537 $107,182
Farmland loans - $250k-1MM 30 $7,366 $245,533
Agriculture operations loans - <$1MM 128 $3,553 $27,758
Agriculture operations loans - <$100k 111 $1,984 $17,874
Agriculture operations loans - $100-250k 8 $476 $59,500
Agriculture operations loans - $250k-1MM 9 $1,093 $121,444