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

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

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Mortgage Data

  • SimulatedRates™
  • Bank Data

    Review & Overview

    Independent Bank is a small bank specializing in 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 by origination volume include: Dallas, Houston, Austin, Denver, and Greeley among others. We have data for 134 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Independent Bank 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. Independent Bank is typically an average 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type
    Simulated Rate Simulation Date
    30 Year Conventional Purchase 7.41% 11/26/22
    30 Year Conventional Refi 6.74% 11/26/22
    30 Year Cash-out Refi 6.93% 11/26/22
    30 Year FHA Purchase 8.03% 11/26/22
    30 Year FHA Refi 7.68% 11/26/22
    30 Year VA Purchase 6.69% 11/26/22
    30 Year VA Refi 6.29% 11/26/22
    30 Year USDA Purchase 7.25% 11/26/22
    30 Year USDA Refi 6.61% 11/26/22
    15 Year Conventional Purchase 6.34% 11/26/22
    15 Year Conventional Refi 6.24% 11/26/22
    15 Year Cash-out Refi 6.24% 11/26/22
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    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 mortgage rate was 3.36%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.21%.

    Relative Fees (Closing Costs)

    Independent Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,851.

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

    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
    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.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Similar Lenders

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

    First Central Credit Union
    Similarity Rank: 153
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    AVENTA Credit Union
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    SCHLUMBERGER EMPLOYEES CREDIT UNION
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    DENVER COMMUNITY
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    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 1968

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Independent Bank's most frequently originated type of loan was Conventional, with 2,951 originations. Their 2nd most popular type was FHA, with 195 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Independent Bank's most frequently cited loan purpose was Home Purchase, with 1,965 originations. The 2nd most popular reason was 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 2021, Independent Bank's most frequently cited loan duration was 30 Year, with 2,129 originations. The 2nd most popular length was 15 Year, with 257 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,701 $555,645,000 $326,658
    $2k-3k 256 $78,500,000 $306,641
    $5k+ 162 $176,480,000 $1,089,383
    $3k-4k 146 $49,240,000 $337,260
    $4k-5k 76 $33,900,000 $446,053
    $<1k 71 $17,275,000 $243,310

    Independent Bank's average total fees were $5,851, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.36%, while their most frequently originated rate bucket for loans was 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 or Islander 2 $510,000 $255,000 $8,013 2.94%
    Native Hawaiian 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
    94.96%

    Independent Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.79%

    Independent Bank has an 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 100 Oak Avenue Eaton, CO 80615 Full Service B&M $39,783
    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 1503 Rivery Blvd. Georgetown, TX 78628 Full Service B&M $193,389
    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
    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 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 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 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 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 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 9601 Katy Freeway Houston, TX 77024 Full Service B&M $120,801

    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