Community First Bank Of Indiana Mortgage Rates, Fees & Info

Kokomo, IN

LEI: 549300Z6RK4QCIMZJD44

Tax ID: 13-4236038

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Community First Bank Of Indiana is a smaller bank specializing in Home Purchase loans. Community First Bank Of Indiana has a high proportion of conventional loans. Their top markets by origination volume include: Kokomo, Indianapolis, Peru, Marion, and Logansport among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Community First Bank Of Indiana has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Community First Bank Of Indiana is typically a low 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.83% 5/4/24
    30 Year Conventional Refi 7.05% 5/4/24
    30 Year Cash-out Refi 7.04% 5/4/24
    15 Year Conventional Purchase 6.24% 5/4/24
    15 Year Conventional Refi 5.68% 5/4/24
    15 Year Cash-out Refi 5.68% 5/4/24
    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.

    Community First Bank Of Indiana Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Community First Bank Of Indiana. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    121

    Origination Dollar Volume (All Markets)

    $14,905,000

    Employee count

    67

    Awards

    Community First Bank of Indiana 30 Year Conventional Loans silver
    Show all (1) awards

    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
    KOKOMO, IN (FHA|USDA|VA) 78 $8,330,000 $106,795 $2,201 5.31%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 22 $4,090,000 $185,909 $2,946 5.44%
    Peru, IN (FHA|USDA|VA) 9 $735,000 $81,667 $2,502 6.22%
    Outside of Metro Areas 3 $495,000 $165,000 $1,842 4.42%
    Marion, IN (FHA|USDA|VA) 3 $365,000 $121,667 $1,823 4.78%
    Logansport, IN (FHA|USDA|VA) 3 $305,000 $101,667 $2,305 5.38%
    Sevierville, TN (FHA|USDA|VA) 1 $255,000 $255,000 $2,809 4.63%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $175,000 $175,000 $4,707 4.63%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $155,000 $155,000 $2,155 4.75%
    Community First Bank Of Indiana's top markets include Kokomo, Indianapolis, Peru, Marion, and Logansport among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)

    • Similar Lenders

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

    Community First Bank of Indiana
    Similarity Rank: 117
    Security Federal Savings Bank
    Similarity Rank: 143
    Greenfield Banking Company
    Similarity Rank: 255
    Hendricks County Bank and Trust Company
    Similarity Rank: 393
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 450
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 614
    The Farmers Bank, Frankfort, Indiana
    Similarity Rank: 814
    The National Bank of Indianapolis
    Similarity Rank: 1020
    Stock Yards Bank & Trust Company
    Similarity Rank: 1176
    INDIANA MEMBERS CREDIT UNION
    Similarity Rank: 1278

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 121 $14,905,000 $123,182 $2,344 5.35%

    For 2018, Community First Bank Of Indiana's most frequently originated type of loan was Conventional, with 121 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 82 $10,020,000 $122,195 $2,340 5.32%
    Cash Out Refi 15 $1,955,000 $130,333 $2,373 5.24%
    Refi 14 $1,570,000 $112,143 $2,401 5.43%
    Home Improvement 9 $955,000 $106,111 $2,232 5.65%
    NA 1 $405,000 $405,000 $0 5.50%

    For 2018, Community First Bank Of Indiana's most frequently cited loan purpose was Home Purchase, with 82 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 68 $9,520,000 $140,000 $2,184 4.89%
    Other 43 $3,885,000 $90,349 $2,577 6.28%
    15 Year 8 $1,170,000 $146,250 $2,670 4.53%
    20 Year 2 $330,000 $165,000 $5,413 4.25%

    For 2018, Community First Bank Of Indiana's most frequently cited loan duration was 30 Year, with 68 originations. The 2nd most popular length was Other, with 43 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 65 $9,215,000 $141,769
    $1k-2k 18 $1,430,000 $79,444
    $2k-3k 2 $510,000 $255,000
    $3k-4k 1 $255,000 $255,000
    $5k+ 1 $215,000 $215,000

    Community First Bank Of Indiana's average total fees were $2,184, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 65 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 62 $9,040,000 $145,806
    6-7% 33 $2,565,000 $77,727
    5-6% 21 $2,465,000 $117,381
    3-4% 4 $810,000 $202,500
    7-8% 1 $25,000 $25,000

    During 2018, Community First Bank Of Indiana's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 4-5%, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 62 $3,650,000 $58,871 $2,192 5.71%
    $100k-200k 39 $5,775,000 $148,077 $2,188 5.07%
    $200k-400k 18 $4,650,000 $258,333 $2,999 4.77%
    $400k-600k 2 $830,000 $415,000 $2,622 5.00%

    2018 saw Community First Bank Of Indiana place emphasis on $100,000 or less loans with 62 originations, totaling $3,650,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 28 $2,110,000 $75,357 $2,070 5.36%
    $50k-75k 25 $2,545,000 $101,800 $2,192 5.12%
    $75k-100k 25 $2,825,000 $113,000 $2,408 5.54%
    $150k-250k 16 $3,540,000 $221,250 $2,465 4.93%
    $100k-150k 13 $1,635,000 $125,769 $2,120 5.65%
    $250k+ 4 $960,000 $240,000 $7,150 4.56%

    Community First Bank Of Indiana lent most frequently to those with incomes in the $50k or less range, with 28 originations. The second most popular income band? $50k-75k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 34 $4,280,000 $125,882 $2,267 5.13%
    30-36% 27 $3,195,000 $118,333 $2,395 5.32%
    <20% 17 $2,405,000 $141,471 $2,603 5.07%
    39% 5 $465,000 $93,000 $2,221 5.28%
    37% 4 $280,000 $70,000 $2,318 5.28%
    41% 4 $510,000 $127,500 $2,651 5.97%
    42% 4 $580,000 $145,000 $2,164 5.09%
    40% 3 $605,000 $201,667 $2,126 4.92%
    38% 3 $595,000 $198,333 $1,814 4.67%
    36% 2 $110,000 $55,000 $1,693 5.75%
    50-60% 1 $85,000 $85,000 $0 6.00%
    >60% 1 $115,000 $115,000 $0 6.50%
    45% 1 $25,000 $25,000 $0 6.75%

    Community First Bank Of Indiana lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 27 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 97 $12,135,000 $125,103 $2,270 5.18%
    Not applicable 10 $1,290,000 $129,000 $0 6.05%
    Asian 4 $520,000 $130,000 $0 6.06%
    Not provided 4 $500,000 $125,000 $8,947 5.69%
    Black 6 $460,000 $76,667 $2,183 6.19%

    Approval Rates

    Total approvals of all applications
    93.71%

    Community First Bank Of Indiana has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.08%

    Community First Bank Of Indiana has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 121 $14,905,000 $123,182

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 120 $14,880,000 $124,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $510,000 $85,000 $3,953 5.50%
    40-60% 10 $1,200,000 $120,000 $2,144 5.59%
    60-80% 55 $7,645,000 $139,000 $2,276 5.21%
    80-100% 46 $5,110,000 $111,087 $2,276 5.36%
    Over 100% 2 $340,000 $170,000 $0 6.25%
    Under 20% 2 $100,000 $50,000 $0 6.50%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Community Lending of America, Inc. VA mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Community First Bank of Indiana 1308 East Hoffer Street Kokomo, IN 46902 Full Service B&M $28,028
    Community First Bank of Indiana 201 West Sycamore Street Kokomo, IN 46901 Full Service B&M $155,068
    Community First Bank of Indiana 2101 South Dixon Road Kokomo, IN 46902 Full Service B&M $57,119
    Community First Bank of Indiana 5570 Pebble Villlage Lane Noblesville, IN 46062 Full Service B&M $4,161

    For 2018, Community First Bank Of Indiana had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,792
    Net interest income $10,848
    Total noninterest income $1,811
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $369
    Trading account gains and fees $0
    Additional Noninterest Income $1,442
    Pre-tax net operating income $4,267
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,195
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,195
    Minority interest net income $0
    Net income $3,195
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,195

    Community First Bank Of Indiana's gross interest income from loans was $12,792,000.
    Community First Bank Of Indiana's net interest income from loans was $10,848,000.
    Community First Bank Of Indiana's fee based income from loans was $369,000.
    Community First Bank Of Indiana's net income from loans was $3,195,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,944
    Provision for credit losses $350
    Total noninterest expense $8,042
    Salaries and employee benefits $4,946
    Premises and equipment expense $728
    Additional noninterest expense $2,368
    Applicable income taxes $1,072
    Net charge-offs $247
    Cash dividends $721

    Community First Bank Of Indiana's interest expense for loans was $1,944,000.
    Community First Bank Of Indiana's payroll and benefits expense were $4,946,000.
    Community First Bank Of Indiana's property, plant and equipment expenses $728,000.

    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 $254,616
    Deposits held in domestic offices $254,616
    Deposits by Individuals, partnerships, and corporations $199,397
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $55,165
    Deposits by Commercial banks and other depository institutions in U.S. $54
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $142,530
    Demand deposits $41,511
    Nontransaction accounts $112,086
    Money market deposit accounts (MMDAs) $17,064
    Other savings deposits (excluding MMDAs) $22,363
    Total time deposits $72,658
    Total time and savings deposits $213,105
    Noninterest-bearing deposits $41,511
    Interest-bearing deposits $213,105
    Retail deposits $221,886
    IRAs and Keogh plan accounts $1,735
    Brokered deposits $28,362
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $286,626
    Cash & Balances due from depository institutions $44,011
    Interest-bearing balances $37,066
    Total securities $8,501
    Federal funds sold & reverse repurchase $110
    Net loans and leases $215,864
    Loan and leases loss allowance $4,367
    Trading account assets $0
    Bank premises and fixed assets $8,245
    Other real estate owned $444
    Goodwill and other intangibles $0
    All other assets $9,451

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $286,626
    Total Liabilities $257,652
    Total deposits $254,616
    Interest-bearing deposits $213,105
    Deposits held in domestic offices $254,616
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $725
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,311

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $215,864
    Loan and leases loss allowance $4,367
    Total loans and leases (domestic) $220,231
    All real estate loans $177,791
    Real estate loans in domestic offices $177,791
    Construction and development loans $22,440
    Residential 1-4 family construction $4,061
    Other construction, all land development and other land $18,379
    Loans secured by nonfarm nonresidential properties $91,165
    Nonfarm nonresidential secured by owner-occupied properties $62,993
    Commercial real estate & other non-farm, non-residential $28,172
    Multifamily residential real estate $4,459
    1-4 family residential loans $55,730
    Farmland loans $3,997
    Loans held in foreign offices $0
    Farm loans $2,912
    Commercial and industrial loans $33,881
    To non-U.S. addressees $0
    Loans to individuals $2,414
    Credit card loans $0
    Related Plans $32
    Consumer Auto Loans $1,877
    Other loans to individuals $505
    All other loans & leases $3,233
    Loans to foreign governments and official institutions $0
    Other loans $3,163
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,159
    Non 1-4 family restructured loans & leases $1,071
    Total loans and leases (foreign) $0

    Community First Bank of Indiana had $215,864,000 of loans outstanding in 2018. $177,791,000 of loans were in real estate loans. $22,440,000 of loans were in development loans. $4,459,000 of loans were in multifamily mortgage loans. $55,730,000 of loans were in 1-4 family mortgage loans. $2,912,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,877,000 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 339 $62,674 $184,879
    Nonfarm, nonresidential loans - <$100k 105 $4,919 $46,848
    Nonfarm, nonresidential loans - $100-250k 113 $14,547 $128,735
    Nonfarm, nonresidential loans - $250k-1MM 121 $43,208 $357,091
    Commercial & Industrial, US addressed loans - <$1MM 376 $27,652 $73,543
    Commercial & Industrial, US addressed loans - <$100k 250 $7,355 $29,420
    Commercial & Industrial, US addressed loans - $100-250k 70 $7,445 $106,357
    Commercial & Industrial, US addressed loans - $250k-1MM 56 $12,852 $229,500
    Farmland loans - <$1MM 18 $2,713 $150,722
    Farmland loans - <$100k 5 $159 $31,800
    Farmland loans - $100-250k 7 $970 $138,571
    Farmland loans - $250k-1MM 6 $1,584 $264,000
    Agriculture operations loans - <$1MM 4 $292 $73,000
    Agriculture operations loans - <$100k 3 $102 $34,000
    Agriculture operations loans - $100-250k 1 $190 $190,000