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 and Cash Out Refi loans. Community First Bank Of Indiana has a high proportion of conventional loans. Their top markets by origination volume include: Kokomo, Indianapolis, Logansport, North Port, and Cape Coral among others. We have data for 16 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 a below 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.

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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

    174

    Origination Dollar Volume (All Markets)

    $30,870,000

    Employee count

    86

    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) 101 $13,785,000 $136,485 $2,235 4.84%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 42 $9,870,000 $235,000 $2,978 4.92%
    Logansport, IN (FHA|USDA|VA) 4 $1,300,000 $325,000 $3,358 5.84%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $830,000 $415,000 $5,793 5.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $730,000 $365,000 $4,285 4.69%
    Outside of Metro Areas 4 $680,000 $170,000 $2,260 4.44%
    Peru, IN (FHA|USDA|VA) 5 $585,000 $117,000 $2,315 6.35%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 3 $575,000 $191,667 $2,245 3.96%
    Marion, IN (FHA|USDA|VA) 3 $565,000 $188,333 $2,476 4.58%
    Hood River, OR (FHA|USDA|VA) 1 $485,000 $485,000 $4,383 3.38%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $475,000 $475,000 $4,465 3.88%
    Cadillac, MI (FHA|USDA|VA) 1 $365,000 $365,000 $2,322 3.75%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 5.75%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $190,000 $95,000 $2,205 3.94%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $175,000 $175,000 $2,464 3.88%
    MUNCIE, IN (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.75%
    Community First Bank Of Indiana's top markets include Kokomo, Indianapolis, Logansport, North Port, and Cape Coral among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Oregon (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Michigan (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.

    Security Federal Savings Bank
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    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 434
    Hendricks County Bank and Trust Company
    Similarity Rank: 456
    Victory Community Bank
    Similarity Rank: 480
    STOCKTON MORTGAGE CORPORATION
    Similarity Rank: 1595
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 1794
    Citizens State Bank of New Castle
    Similarity Rank: 1898
    FORUM Credit Union
    Similarity Rank: 1920
    TUCKER MORTGAGE, LLC
    Similarity Rank: 1962
    Third Federal Savings and Loan Association of Cleveland
    Similarity Rank: 2436

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 174 $30,870,000 $177,414 $2,531 4.87%

    For 2019, Community First Bank Of Indiana's most frequently originated type of loan was Conventional, with 174 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 102 $16,420,000 $160,980 $2,452 5.04%
    Cash Out Refi 44 $7,900,000 $179,545 $2,478 4.58%
    Refi 25 $5,925,000 $237,000 $2,957 4.53%
    Home Improvement 3 $625,000 $208,333 $0 6.50%

    For 2019, Community First Bank Of Indiana's most frequently cited loan purpose was Home Purchase, with 102 originations. The 2nd most popular reason was Cash Out Refi, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 116 $21,470,000 $185,086 $2,509 4.59%
    15 Year 25 $3,435,000 $137,400 $2,484 4.69%
    Other 16 $2,920,000 $182,500 $2,210 6.01%
    20 Year 14 $2,890,000 $206,429 $4,183 5.76%
    1 Year 2 $140,000 $70,000 $0 7.00%
    10 Year 1 $15,000 $15,000 $286 7.50%

    For 2019, Community First Bank Of Indiana's most frequently cited loan duration was 30 Year, with 116 originations. The 2nd most popular length was 15 Year, with 25 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 94 $17,330,000 $184,362
    $1k-2k 35 $4,205,000 $120,143
    $2k-3k 10 $3,080,000 $308,000
    $5k+ 2 $940,000 $470,000

    Community First Bank Of Indiana's average total fees were $2,509, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 94 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 58 $11,910,000 $205,345
    5-6% 55 $8,995,000 $163,545
    4-5% 38 $6,970,000 $183,421
    6-7% 20 $2,900,000 $145,000
    7-8% 3 $95,000 $31,667

    During 2019, Community First Bank Of Indiana's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 3-4%, with 58 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 64 $3,780,000 $59,063 $2,117 5.30%
    $200k-400k 51 $13,775,000 $270,098 $2,605 4.70%
    $100k-200k 46 $6,600,000 $143,478 $2,302 4.57%
    $400k-600k 11 $5,205,000 $473,182 $5,050 4.23%
    $600k-1MM 2 $1,510,000 $755,000 $3,581 6.13%

    2019 saw Community First Bank Of Indiana place emphasis on $100,000 or less loans with 64 originations, totaling $3,780,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 35 $2,775,000 $79,286 $2,222 4.99%
    $100k-150k 31 $7,245,000 $233,710 $2,873 4.92%
    $50k-75k 27 $3,055,000 $113,148 $2,152 4.46%
    $75k-100k 25 $3,875,000 $155,000 $2,305 4.65%
    $150k-250k 21 $5,385,000 $256,429 $2,542 4.39%
    $250k+ 12 $4,280,000 $356,667 $4,103 4.51%

    Community First Bank Of Indiana lent most frequently to those with incomes in the $50k or less range, with 35 originations. The second most popular income band? $100k-150k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 46 $6,870,000 $149,348 $2,265 4.65%
    <20% 28 $5,180,000 $185,000 $2,568 4.09%
    30-36% 23 $5,115,000 $222,391 $2,795 4.93%
    39% 10 $2,210,000 $221,000 $2,875 4.44%
    41% 9 $1,405,000 $156,111 $2,353 4.25%
    38% 6 $460,000 $76,667 $2,257 5.33%
    40% 6 $1,880,000 $313,333 $3,371 4.83%
    42% 5 $735,000 $147,000 $2,158 4.33%
    37% 4 $920,000 $230,000 $3,212 5.00%
    36% 3 $415,000 $138,333 $2,046 4.92%
    43% 2 $400,000 $200,000 $2,926 5.63%

    Community First Bank Of Indiana lent most frequently to those with DTI ratios of 20-30%, with 46 originations. The next most common DTI ratio? <20%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 145 $25,375,000 $175,000 $2,537 4.68%
    Not applicable 20 $4,100,000 $205,000 $0 6.06%
    Black 4 $620,000 $155,000 $2,064 5.44%
    Not provided 2 $340,000 $170,000 $2,261 4.63%
    Other Asian 1 $255,000 $255,000 $3,200 5.50%
    Asian 2 $180,000 $90,000 $3,031 6.25%

    Approval Rates

    Total approvals of all applications
    95.24%

    Community First Bank Of Indiana 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
    85.63%

    Community First Bank Of Indiana has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 174 $30,870,000 $177,414

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $2,440,000 $406,667
    Single Family (1-4 Units):Site-Built 168 $28,430,000 $169,226

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $175,000 $35,000 $1,796 4.68%
    40-60% 28 $4,660,000 $166,429 $2,714 4.59%
    60-80% 77 $14,955,000 $194,221 $2,425 4.88%
    80-100% 52 $9,190,000 $176,731 $2,698 4.85%
    Over 100% 5 $1,535,000 $307,000 $0 6.08%
    Under 20% 5 $195,000 $39,000 $1,739 5.43%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Closing on a mortgage 1 20.0%
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Trouble during payment process 3 60.0%
    COMMUNITY BANK SYSTEM, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 1 20.0%

    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 $30,231
    Community First Bank of Indiana 201 West Sycamore Street Kokomo, IN 46901 Full Service B&M $149,597
    Community First Bank of Indiana 2101 South Dixon Road Kokomo, IN 46902 Full Service B&M $60,187
    Community First Bank of Indiana 5570 Pebble Villlage Lane Noblesville, IN 46062 Full Service B&M $8,056
    Community First Bank of Indiana 707 East State Road 32 Westfield, IN 46074 Full Service B&M $812

    For 2019, Community First Bank Of Indiana had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,742
    Net interest income $12,005
    Total noninterest income $2,273
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $492
    Trading account gains and fees $0
    Additional Noninterest Income $1,781
    Pre-tax net operating income $3,512
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,625
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,625
    Minority interest net income $0
    Net income $2,625
    Sale, conversion, retirement of capital stock, net $914
    Net operating income $2,625

    Community First Bank Of Indiana's gross interest income from loans was $14,742,000.
    Community First Bank Of Indiana's net interest income from loans was $12,005,000.
    Community First Bank Of Indiana's fee based income from loans was $492,000.
    Community First Bank Of Indiana's net income from loans was $2,625,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,737
    Provision for credit losses $225
    Total noninterest expense $10,541
    Salaries and employee benefits $6,506
    Premises and equipment expense $1,099
    Additional noninterest expense $2,936
    Applicable income taxes $887
    Net charge-offs $105
    Cash dividends $806

    Community First Bank Of Indiana's interest expense for loans was $2,737,000.
    Community First Bank Of Indiana's payroll and benefits expense were $6,506,000.
    Community First Bank Of Indiana's property, plant and equipment expenses $1,099,000.

    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 1.0%
    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 $285,665
    Deposits held in domestic offices $285,665
    Deposits by Individuals, partnerships, and corporations $225,148
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $60,461
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $56
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $152,707
    Demand deposits $44,430
    Nontransaction accounts $132,958
    Money market deposit accounts (MMDAs) $22,320
    Other savings deposits (excluding MMDAs) $22,858
    Total time deposits $87,782
    Total time and savings deposits $241,235
    Noninterest-bearing deposits $44,430
    Interest-bearing deposits $241,234
    Retail deposits $255,629
    IRAs and Keogh plan accounts $3,006
    Brokered deposits $22,382
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $330,642
    Cash & Balances due from depository institutions $37,821
    Interest-bearing balances $31,290
    Total securities $5,486
    Federal funds sold & reverse repurchase $2,070
    Net loans and leases $261,049
    Loan and leases loss allowance $4,487
    Trading account assets $0
    Bank premises and fixed assets $14,446
    Other real estate owned $182
    Goodwill and other intangibles $0
    All other assets $9,588

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $330,642
    Total Liabilities $295,832
    Total deposits $285,665
    Interest-bearing deposits $241,234
    Deposits held in domestic offices $285,665
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $655
    Trading liabilities $0
    Other borrowed funds $7,000
    Subordinated debt $0
    All other liabilities $2,512

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $261,049
    Loan and leases loss allowance $4,487
    Total loans and leases (domestic) $265,536
    All real estate loans $211,596
    Real estate loans in domestic offices $211,596
    Construction and development loans $47,542
    Residential 1-4 family construction $17,716
    Other construction, all land development and other land $29,826
    Loans secured by nonfarm nonresidential properties $100,491
    Nonfarm nonresidential secured by owner-occupied properties $68,688
    Commercial real estate & other non-farm, non-residential $31,803
    Multifamily residential real estate $1,411
    1-4 family residential loans $58,621
    Farmland loans $3,531
    Loans held in foreign offices $0
    Farm loans $3,416
    Commercial and industrial loans $44,608
    To non-U.S. addressees $0
    Loans to individuals $3,198
    Credit card loans $0
    Related Plans $28
    Consumer Auto Loans $1,660
    Other loans to individuals $1,510
    All other loans & leases $2,719
    Loans to foreign governments and official institutions $0
    Other loans $2,719
    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 $1,418
    Non 1-4 family restructured loans & leases $1,333
    Total loans and leases (foreign) $0

    Community First Bank of Indiana had $261,049,000 of loans outstanding in 2019. $211,596,000 of loans were in real estate loans. $47,542,000 of loans were in development loans. $1,411,000 of loans were in multifamily mortgage loans. $58,621,000 of loans were in 1-4 family mortgage loans. $3,416,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,660,000 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 $66,430 $195,959
    Nonfarm, nonresidential loans - <$100k 96 $4,104 $42,750
    Nonfarm, nonresidential loans - $100-250k 114 $14,550 $127,632
    Nonfarm, nonresidential loans - $250k-1MM 129 $47,776 $370,357
    Commercial & Industrial, US addressed loans - <$1MM 469 $35,285 $75,235
    Commercial & Industrial, US addressed loans - <$100k 324 $10,755 $33,194
    Commercial & Industrial, US addressed loans - $100-250k 81 $9,007 $111,198
    Commercial & Industrial, US addressed loans - $250k-1MM 64 $15,523 $242,547
    Farmland loans - <$1MM 15 $2,284 $152,267
    Farmland loans - <$100k 3 $79 $26,333
    Farmland loans - $100-250k 7 $936 $133,714
    Farmland loans - $250k-1MM 5 $1,269 $253,800
    Agriculture operations loans - <$1MM 4 $791 $197,750
    Agriculture operations loans - <$100k 1 $41 $41,000
    Agriculture operations loans - $100-250k 2 $300 $150,000
    Agriculture operations loans - $250k-1MM 1 $450 $450,000