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™
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    • 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 Refi, 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: Indianapolis, Kokomo, North Port, Peru, and Logansport among others. We have data for 22 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% 11/22/24
    30 Year Conventional Refi 7.05% 11/22/24
    30 Year Cash-out Refi 7.04% 11/22/24
    15 Year Conventional Purchase 6.24% 11/22/24
    15 Year Conventional Refi 5.68% 11/22/24
    15 Year Cash-out Refi 5.68% 11/22/24
    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

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    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

    320

    Origination Dollar Volume (All Markets)

    $61,680,000

    Employee count

    95

    Awards

    Community First Bank of Indiana 30 Year Conventional Loans silver Community First Bank of Indiana 30 Year Conventional Loans bronze
    Show all (2) 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
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 104 $27,860,000 $267,885 $2,524 3.52%
    KOKOMO, IN (FHA|USDA|VA) 166 $24,250,000 $146,084 $2,154 3.28%
    Outside of Metro Areas 18 $3,830,000 $212,778 $2,246 3.12%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 3 $965,000 $321,667 $4,554 3.29%
    Peru, IN (FHA|USDA|VA) 6 $660,000 $110,000 $2,428 4.69%
    Logansport, IN (FHA|USDA|VA) 5 $565,000 $113,000 $2,125 3.28%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $475,000 $475,000 $3,203 2.75%
    COLUMBUS, OH (FHA|USDA|VA) 1 $355,000 $355,000 $3,937 3.25%
    Plymouth, IN (FHA|USDA|VA) 1 $315,000 $315,000 $0 5.00%
    LOUISVILLE, KY (FHA|USDA|VA) 2 $310,000 $155,000 $2,480 3.31%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $275,000 $275,000 $2,293 2.38%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $265,000 $265,000 $0 4.25%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $255,000 $255,000 $0 5.50%
    Warsaw, IN (FHA|USDA|VA) 1 $245,000 $245,000 $2,464 2.63%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $215,000 $215,000 $3,142 2.38%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $185,000 $185,000 $35,922 3.38%
    Marion, IN (FHA|USDA|VA) 2 $170,000 $85,000 $2,008 3.19%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $155,000 $155,000 $2,992 3.63%
    MUNCIE, IN (FHA|USDA|VA) 1 $115,000 $115,000 $0 5.25%
    Frankfort, IN (FHA|USDA|VA) 1 $95,000 $95,000 $2,098 3.63%
    Wabash, IN (FHA|USDA|VA) 1 $65,000 $65,000 $1,742 2.38%
    Huntington, IN (FHA|USDA|VA) 1 $55,000 $55,000 $0 5.75%
    Community First Bank Of Indiana's top markets include Indianapolis, Kokomo, North Port, Peru, and Logansport among others.

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

    FINANCIAL BUILDERS Federal Credit Union
    Similarity Rank: 136
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    Similarity Rank: 376
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    Similarity Rank: 441
    Madison County Federal Credit Union
    Similarity Rank: 488
    Security Federal Savings Bank
    Similarity Rank: 855
    BNC National Bank
    Similarity Rank: 1338
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 1881
    CRANE
    Similarity Rank: 2070
    PARTNERS 1ST Federal Credit Union
    Similarity Rank: 2418
    VICTORY MORTGAGE, L.L.C.
    Similarity Rank: 2496

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 320 $61,680,000 $192,750 $2,435 3.40%

    For 2020, Community First Bank Of Indiana's most frequently originated type of loan was Conventional, with 320 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 128 $27,520,000 $215,000 $2,392 3.25%
    Home Purchase 105 $19,425,000 $185,000 $2,584 3.67%
    Cash Out Refi 80 $14,140,000 $176,750 $2,337 3.09%
    Home Improvement 7 $595,000 $85,000 $0 5.32%

    For 2020, Community First Bank Of Indiana's most frequently cited loan purpose was Refi, with 128 originations. The 2nd most popular reason was Home Purchase, with 105 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 155 $31,345,000 $202,226 $2,543 3.26%
    15 Year 67 $11,445,000 $170,821 $2,228 2.66%
    20 Year 55 $10,815,000 $196,636 $2,386 3.27%
    Other 42 $8,020,000 $190,952 $2,479 5.23%
    10 Year 1 $55,000 $55,000 $1,434 3.63%

    For 2020, Community First Bank Of Indiana's most frequently cited loan duration was 30 Year, with 155 originations. The 2nd most popular length was 15 Year, with 67 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 241 $45,905,000 $190,477
    $1k-2k 22 $3,950,000 $179,545
    $2k-3k 5 $2,115,000 $423,000

    Community First Bank Of Indiana's average total fees were $2,543, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 241 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 116 $24,580,000 $211,897
    3-4% 94 $17,630,000 $187,553
    <2.5% 51 $9,075,000 $177,941
    5-6% 35 $4,635,000 $132,429
    4-5% 23 $5,545,000 $241,087
    6-7% 1 $215,000 $215,000

    During 2020, Community First Bank Of Indiana's average interest rate for loans was 3.26%, while their most frequently originated rate bucket for loans was 2.5-3%, with 116 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 113 $29,905,000 $264,646 $2,389 3.27%
    $100,000 or less 92 $6,340,000 $68,913 $2,075 3.77%
    $100k-200k 92 $13,470,000 $146,413 $2,667 3.20%
    $400k-600k 21 $10,225,000 $486,905 $2,952 3.14%
    $600k-1MM 2 $1,740,000 $870,000 $0 5.00%

    2020 saw Community First Bank Of Indiana place emphasis on $200k-400k loans with 113 originations, totaling $29,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 69 $14,175,000 $205,435 $2,432 3.11%
    $50k-75k 54 $6,560,000 $121,481 $2,222 3.06%
    $75k-100k 48 $9,010,000 $187,708 $2,324 3.15%
    $50k or less 46 $4,470,000 $97,174 $2,905 3.41%
    $150k-250k 37 $9,585,000 $259,054 $2,390 3.41%
    $250k+ 18 $6,920,000 $384,444 $2,725 2.86%

    Community First Bank Of Indiana lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $50k-75k, with 54 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 92 $18,440,000 $200,435 $2,659 3.01%
    <20% 64 $11,100,000 $173,438 $2,222 2.95%
    30-36% 41 $7,585,000 $185,000 $2,425 3.09%
    41% 19 $3,605,000 $189,737 $2,255 3.33%
    40% 12 $2,250,000 $187,500 $2,331 3.00%
    42% 11 $2,425,000 $220,455 $2,641 3.40%
    39% 11 $2,745,000 $249,545 $2,401 2.89%
    36% 9 $2,145,000 $238,333 $2,413 3.06%
    38% 7 $1,255,000 $179,286 $2,183 3.07%
    37% 2 $540,000 $270,000 $2,267 2.94%

    Community First Bank Of Indiana lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? <20%, with 64 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 258 $48,180,000 $186,744 $2,438 3.16%
    Not applicable 37 $8,405,000 $227,162 $0 5.13%
    Not provided 13 $2,305,000 $177,308 $2,238 2.84%
    Asian 5 $1,675,000 $335,000 $2,590 2.93%
    Black 7 $1,115,000 $159,286 $2,722 4.14%

    Approval Rates

    Total approvals of all applications
    94.68%

    Community First Bank Of Indiana has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.00%

    Community First Bank Of Indiana has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 320 $61,680,000 $192,750

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $5,250,000 $375,000
    Single Family (1-4 Units):Site-Built 306 $56,430,000 $184,412

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $1,905,000 $127,000 $2,219 2.72%
    40-60% 71 $10,225,000 $144,014 $2,245 3.34%
    60-80% 144 $30,670,000 $212,986 $2,375 3.41%
    80-100% 80 $16,970,000 $212,125 $2,729 3.39%
    Over 100% 4 $1,100,000 $275,000 $0 5.41%
    Under 20% 1 $315,000 $315,000 $0 4.25%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Struggling to pay mortgage 1 33.3%
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Trouble during payment process 1 33.3%
    COMMUNITY BANK SYSTEM, INC. Other type of mortgage Closing on a mortgage 1 33.3%

    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 $42,011
    Community First Bank of Indiana 17661 Village Center Drive Noblesville, IN 46062 Full Service B&M $17,308
    Community First Bank of Indiana 201 West Sycamore Street Kokomo, IN 46901 Full Service B&M $208,007
    Community First Bank of Indiana 2101 South Dixon Road Kokomo, IN 46902 Full Service B&M $77,791
    Community First Bank of Indiana 381 South Junction Crossing Westfield, IN 46074 Full Service B&M $5,003
    Community First Bank of Indiana 707 East State Road 32 Westfield, IN 46074 Full Service B&M $13,923

    For 2020, Community First Bank Of Indiana had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,590
    Net interest income $14,751
    Total noninterest income $3,484
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $457
    Trading account gains and fees $0
    Additional Noninterest Income $3,027
    Pre-tax net operating income $4,293
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,211
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,211
    Minority interest net income $0
    Net income $3,211
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,211

    Community First Bank Of Indiana's gross interest income from loans was $17,590,000.
    Community First Bank Of Indiana's net interest income from loans was $14,751,000.
    Community First Bank Of Indiana's fee based income from loans was $457,000.
    Community First Bank Of Indiana's net income from loans was $3,211,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,839
    Provision for credit losses $755
    Total noninterest expense $13,187
    Salaries and employee benefits $7,954
    Premises and equipment expense $1,514
    Additional noninterest expense $3,719
    Applicable income taxes $1,082
    Net charge-offs $-53
    Cash dividends $1,184

    Community First Bank Of Indiana's interest expense for loans was $2,839,000.
    Community First Bank Of Indiana's payroll and benefits expense were $7,954,000.
    Community First Bank Of Indiana's property, plant and equipment expenses $1,514,000.

    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 $376,316
    Deposits held in domestic offices $376,316
    Deposits by Individuals, partnerships, and corporations $332,550
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $43,710
    Deposits by Commercial banks and other depository institutions in U.S. $56
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $188,975
    Demand deposits $69,829
    Nontransaction accounts $187,341
    Money market deposit accounts (MMDAs) $32,248
    Other savings deposits (excluding MMDAs) $30,974
    Total time deposits $124,120
    Total time and savings deposits $306,487
    Noninterest-bearing deposits $69,829
    Interest-bearing deposits $306,487
    Retail deposits $328,160
    IRAs and Keogh plan accounts $5,869
    Brokered deposits $37,343
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $467,063
    Cash & Balances due from depository institutions $49,792
    Interest-bearing balances $21,397
    Total securities $2,606
    Federal funds sold & reverse repurchase $18,600
    Net loans and leases $358,760
    Loan and leases loss allowance $5,296
    Trading account assets $0
    Bank premises and fixed assets $14,981
    Other real estate owned $0
    Goodwill and other intangibles $9,318
    All other assets $13,006

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $467,063
    Total Liabilities $415,199
    Total deposits $376,316
    Interest-bearing deposits $306,487
    Deposits held in domestic offices $376,316
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $555
    Trading liabilities $0
    Other borrowed funds $21,933
    Subordinated debt $0
    All other liabilities $16,395

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $358,760
    Loan and leases loss allowance $5,296
    Total loans and leases (domestic) $364,056
    All real estate loans $269,410
    Real estate loans in domestic offices $269,410
    Construction and development loans $71,823
    Residential 1-4 family construction $42,076
    Other construction, all land development and other land $29,747
    Loans secured by nonfarm nonresidential properties $125,554
    Nonfarm nonresidential secured by owner-occupied properties $82,150
    Commercial real estate & other non-farm, non-residential $43,404
    Multifamily residential real estate $5,428
    1-4 family residential loans $63,773
    Farmland loans $2,832
    Loans held in foreign offices $0
    Farm loans $3,737
    Commercial and industrial loans $83,219
    To non-U.S. addressees $0
    Loans to individuals $3,343
    Credit card loans $0
    Related Plans $30
    Consumer Auto Loans $1,995
    Other loans to individuals $1,318
    All other loans & leases $4,347
    Loans to foreign governments and official institutions $0
    Other loans $4,347
    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 $1,760
    Non 1-4 family restructured loans & leases $1,642
    Total loans and leases (foreign) $0

    Community First Bank of Indiana had $358,760,000 of loans outstanding in 2020. $269,410,000 of loans were in real estate loans. $71,823,000 of loans were in development loans. $5,428,000 of loans were in multifamily mortgage loans. $63,773,000 of loans were in 1-4 family mortgage loans. $3,737,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,995,000 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 342 $72,149 $210,962
    Nonfarm, nonresidential loans - <$100k 90 $3,746 $41,622
    Nonfarm, nonresidential loans - $100-250k 117 $14,793 $126,436
    Nonfarm, nonresidential loans - $250k-1MM 135 $53,610 $397,111
    Commercial & Industrial, US addressed loans - <$1MM 950 $60,544 $63,731
    Commercial & Industrial, US addressed loans - <$100k 710 $18,597 $26,193
    Commercial & Industrial, US addressed loans - $100-250k 141 $15,284 $108,397
    Commercial & Industrial, US addressed loans - $250k-1MM 99 $26,663 $269,323
    Farmland loans - <$1MM 15 $1,628 $108,533
    Farmland loans - <$100k 2 $66 $33,000
    Farmland loans - $100-250k 9 $978 $108,667
    Farmland loans - $250k-1MM 4 $584 $146,000
    Agriculture operations loans - <$1MM 3 $437 $145,667
    Agriculture operations loans - <$100k 1 $41 $41,000
    Agriculture operations loans - $100-250k 2 $396 $198,000