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, Cash Out Refi, and Refi loans. Community First Bank Of Indiana has a high proportion of conventional loans. Their top markets by origination volume include: Indianapolis, Kokomo, Muncie, Lafayette, and Peru 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 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.

    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

    296

    Origination Dollar Volume (All Markets)

    $65,660,000

    Employee count

    200

    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
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 102 $27,640,000 $270,980 $2,560 3.52%
    KOKOMO, IN (FHA|USDA|VA) 137 $24,065,000 $175,657 $2,120 3.32%
    MUNCIE, IN (FHA|USDA|VA) 4 $3,460,000 $865,000 $2,377 4.47%
    Outside of Metro Areas 11 $2,175,000 $197,727 $2,003 4.16%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 11 $1,505,000 $136,818 $2,016 3.22%
    Peru, IN (FHA|USDA|VA) 6 $1,260,000 $210,000 $2,164 2.85%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $880,000 $440,000 $3,345 3.88%
    Warsaw, IN (FHA|USDA|VA) 2 $700,000 $350,000 $2,116 2.81%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $580,000 $290,000 $2,501 2.81%
    Marion, IN (FHA|USDA|VA) 4 $520,000 $130,000 $2,258 2.81%
    AKRON, OH (FHA|USDA|VA) 1 $505,000 $505,000 $4,589 3.63%
    BLOOMINGTON, IN (FHA|USDA|VA) 1 $415,000 $415,000 $2,464 3.00%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $405,000 $405,000 $3,907 3.63%
    Logansport, IN (FHA|USDA|VA) 4 $310,000 $77,500 $1,656 3.69%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $225,000 $225,000 $0 5.00%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,126 2.38%
    New Castle, IN (FHA|USDA|VA) 1 $185,000 $185,000 $0 4.50%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $185,000 $185,000 $3,012 2.50%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $155,000 $155,000 $2,889 2.63%
    COLUMBUS, IN (FHA|USDA|VA) 1 $145,000 $145,000 $1,969 3.00%
    Frankfort, IN (FHA|USDA|VA) 1 $85,000 $85,000 $2,139 2.25%
    Crawfordsville, IN (FHA|USDA|VA) 1 $65,000 $65,000 $0 5.25%
    Community First Bank Of Indiana's top markets include Indianapolis, Kokomo, Muncie, Lafayette, and Peru among others.

    Their top states include:
  • Indiana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Ohio (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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    Mutual Savings Bank
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    Independent Federal Credit Union
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    Similarity Rank: 784
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    Similarity Rank: 1188
    INDIANA UNIVERSITY CREDIT UNION
    Similarity Rank: 1463
    LOANFLIGHT LENDING, LLC
    Similarity Rank: 1690
    OCEANSIDE MORTGAGE COMPANY
    Similarity Rank: 1980
    FORUM Credit Union
    Similarity Rank: 2139

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 296 $65,660,000 $221,824 $2,285 3.42%

    For 2021, Community First Bank Of Indiana's most frequently originated type of loan was Conventional, with 296 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 123 $29,025,000 $235,976 $2,156 3.73%
    Cash Out Refi 96 $21,870,000 $227,813 $2,374 3.09%
    Refi 72 $13,450,000 $186,806 $2,334 3.28%
    Home Improvement 5 $1,315,000 $263,000 $2,536 4.33%

    For 2021, Community First Bank Of Indiana's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Cash Out Refi, with 96 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 175 $38,775,000 $221,571 $2,327 3.19%
    15 Year 52 $9,330,000 $179,423 $2,215 2.75%
    20 Year 49 $8,235,000 $168,061 $2,282 4.30%
    Other 15 $8,005,000 $533,667 $0 4.97%
    10 Year 2 $1,000,000 $500,000 $439 5.63%
    1 Year 2 $280,000 $140,000 $0 5.25%
    5 Year 1 $35,000 $35,000 $449 5.00%

    For 2021, Community First Bank Of Indiana's most frequently cited loan duration was 30 Year, with 175 originations. The 2nd most popular length was 15 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 216 $41,810,000 $193,565
    $1k-2k 26 $7,040,000 $270,769
    $2k-3k 5 $2,345,000 $469,000

    Community First Bank Of Indiana's average total fees were $2,327, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 216 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 145 $31,725,000 $218,793
    3-4% 63 $16,105,000 $255,635
    <2.5% 31 $6,535,000 $210,806
    4-5% 29 $5,625,000 $193,966
    5-6% 28 $5,670,000 $202,500

    During 2021, Community First Bank Of Indiana's average interest rate for loans was 3.19%, while their most frequently originated rate bucket for loans was 2.5-3%, with 145 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 104 $15,380,000 $147,885 $2,172 3.34%
    $200k-400k 91 $25,055,000 $275,330 $2,524 3.18%
    $100,000 or less 69 $4,625,000 $67,029 $1,845 3.82%
    $400k-600k 22 $10,330,000 $469,545 $2,725 3.07%
    $600k-1MM 8 $6,190,000 $773,750 $3,756 4.64%
    $1MM+ 2 $4,080,000 $2,040,000 $4,891 3.69%

    2021 saw Community First Bank Of Indiana place emphasis on $100k-200k loans with 104 originations, totaling $15,380,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 54 $7,880,000 $145,926 $2,097 3.25%
    $100k-150k 48 $10,830,000 $225,625 $2,418 3.05%
    $50k or less 44 $4,870,000 $110,682 $2,054 3.48%
    $150k-250k 42 $11,910,000 $283,571 $2,542 3.13%
    $75k-100k 37 $6,015,000 $162,568 $2,273 3.34%
    $250k+ 23 $9,035,000 $392,826 $2,713 2.86%

    Community First Bank Of Indiana lent most frequently to those with incomes in the $50k-75k range, with 54 originations. The second most popular income band? $100k-150k, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 80 $16,840,000 $210,500 $2,205 3.18%
    <20% 48 $8,920,000 $185,833 $2,221 2.87%
    30-36% 41 $8,895,000 $216,951 $2,309 3.03%
    42% 14 $2,570,000 $183,571 $2,640 3.64%
    37% 12 $2,780,000 $231,667 $2,264 2.96%
    38% 12 $2,840,000 $236,667 $2,437 3.34%
    41% 11 $2,355,000 $214,091 $2,223 3.28%
    36% 10 $1,600,000 $160,000 $2,399 3.09%
    40% 10 $1,950,000 $195,000 $2,459 3.25%
    39% 9 $2,195,000 $243,889 $2,489 3.18%
    43% 2 $320,000 $160,000 $2,102 3.00%
    44% 1 $105,000 $105,000 $1,858 3.63%
    45% 1 $75,000 $75,000 $1,899 3.63%

    Community First Bank Of Indiana lent most frequently to those with DTI ratios of 20-30%, with 80 originations. The next most common DTI ratio? <20%, with 48 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 232 $47,250,000 $203,664 $2,278 3.21%
    Not applicable 35 $12,735,000 $363,857 $2,161 4.97%
    Not provided 15 $2,755,000 $183,667 $2,262 3.13%
    Black 10 $2,090,000 $209,000 $2,503 3.60%
    Asian 2 $690,000 $345,000 $2,381 2.63%
    American Indian 2 $140,000 $70,000 $2,213 2.81%

    Approval Rates

    Total approvals of all applications
    95.59%

    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
    85.14%

    Community First Bank Of Indiana has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 296 $65,660,000 $221,824

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    296 $65,660,000 $221,824

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 27 $4,245,000 $157,222 $2,333 2.76%
    40-60% 44 $7,980,000 $181,364 $2,230 3.42%
    60-80% 137 $31,345,000 $228,796 $2,355 3.46%
    80-100% 81 $20,515,000 $253,272 $2,242 3.45%
    Over 100% 3 $1,335,000 $445,000 $0 5.33%
    Under 20% 2 $110,000 $55,000 $1,178 3.81%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    COMMUNITY BANK SYSTEM, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    COMMUNITY BANK SYSTEM, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 1 50.0%

    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 $52,854
    Community First Bank of Indiana 17661 Village Center Drive Noblesville, IN 46062 Full Service B&M $27,733
    Community First Bank of Indiana 201 West Sycamore Street Kokomo, IN 46901 Full Service B&M $209,487
    Community First Bank of Indiana 2101 South Dixon Road Kokomo, IN 46902 Full Service B&M $96,777
    Community First Bank of Indiana 381 South Junction Crossing Westfield, IN 46074 Full Service B&M $16,204
    Community First Bank of Indiana 707 East State Road 32 Westfield, IN 46074 Full Service B&M $27,855

    For 2021, Community First Bank Of Indiana had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $25,689
    Net interest income $22,685
    Total noninterest income $13,382
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $476
    Trading account gains and fees $0
    Additional Noninterest Income $12,906
    Pre-tax net operating income $8,066
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,213
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,213
    Minority interest net income $718
    Net income $5,495
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,213

    Community First Bank Of Indiana's gross interest income from loans was $25,689,000.
    Community First Bank Of Indiana's net interest income from loans was $22,685,000.
    Community First Bank Of Indiana's fee based income from loans was $476,000.
    Community First Bank Of Indiana's net income from loans was $5,495,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,004
    Provision for credit losses $775
    Total noninterest expense $27,226
    Salaries and employee benefits $17,739
    Premises and equipment expense $2,249
    Additional noninterest expense $7,238
    Applicable income taxes $1,853
    Net charge-offs $-197
    Cash dividends $1,738

    Community First Bank Of Indiana's interest expense for loans was $3,004,000.
    Community First Bank Of Indiana's payroll and benefits expense were $17,739,000.
    Community First Bank Of Indiana's property, plant and equipment expenses $2,249,000.

    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 $463,083
    Deposits held in domestic offices $463,083
    Deposits by Individuals, partnerships, and corporations $402,492
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $60,532
    Deposits by Commercial banks and other depository institutions in U.S. $59
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $245,021
    Demand deposits $93,119
    Nontransaction accounts $218,062
    Money market deposit accounts (MMDAs) $77,259
    Other savings deposits (excluding MMDAs) $37,828
    Total time deposits $102,976
    Total time and savings deposits $369,964
    Noninterest-bearing deposits $93,119
    Interest-bearing deposits $369,965
    Retail deposits $440,747
    IRAs and Keogh plan accounts $8,328
    Brokered deposits $8,120
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $550,983
    Cash & Balances due from depository institutions $84,675
    Interest-bearing balances $37,795
    Total securities $1,869
    Federal funds sold & reverse repurchase $0
    Net loans and leases $423,340
    Loan and leases loss allowance $6,268
    Trading account assets $0
    Bank premises and fixed assets $14,505
    Other real estate owned $642
    Goodwill and other intangibles $9,318
    All other assets $16,634

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $550,983
    Total Liabilities $490,954
    Total deposits $463,083
    Interest-bearing deposits $369,965
    Deposits held in domestic offices $463,083
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $18,277
    Subordinated debt $0
    All other liabilities $9,594

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $423,340
    Loan and leases loss allowance $6,268
    Total loans and leases (domestic) $429,608
    All real estate loans $330,041
    Real estate loans in domestic offices $330,041
    Construction and development loans $89,051
    Residential 1-4 family construction $55,977
    Other construction, all land development and other land $33,074
    Loans secured by nonfarm nonresidential properties $154,741
    Nonfarm nonresidential secured by owner-occupied properties $85,363
    Commercial real estate & other non-farm, non-residential $69,378
    Multifamily residential real estate $7,644
    1-4 family residential loans $75,620
    Farmland loans $2,985
    Loans held in foreign offices $0
    Farm loans $3,421
    Commercial and industrial loans $89,325
    To non-U.S. addressees $0
    Loans to individuals $2,711
    Credit card loans $0
    Related Plans $20
    Consumer Auto Loans $1,807
    Other loans to individuals $884
    All other loans & leases $4,111
    Loans to foreign governments and official institutions $0
    Other loans $4,111
    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 $1,723
    Non 1-4 family restructured loans & leases $1,610
    Total loans and leases (foreign) $0

    Community First Bank of Indiana had $423,340,000 of loans outstanding in 2021. $330,041,000 of loans were in real estate loans. $89,051,000 of loans were in development loans. $7,644,000 of loans were in multifamily mortgage loans. $75,620,000 of loans were in 1-4 family mortgage loans. $3,421,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,807,000 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 $72,089 $210,787
    Nonfarm, nonresidential loans - <$100k 82 $3,339 $40,720
    Nonfarm, nonresidential loans - $100-250k 115 $14,599 $126,948
    Nonfarm, nonresidential loans - $250k-1MM 145 $54,151 $373,455
    Commercial & Industrial, US addressed loans - <$1MM 708 $55,566 $78,483
    Commercial & Industrial, US addressed loans - <$100k 495 $14,041 $28,366
    Commercial & Industrial, US addressed loans - $100-250k 121 $13,552 $112,000
    Commercial & Industrial, US addressed loans - $250k-1MM 92 $27,973 $304,054
    Farmland loans - <$1MM 14 $1,827 $130,500
    Farmland loans - <$100k 2 $151 $75,500
    Farmland loans - $100-250k 9 $1,098 $122,000
    Farmland loans - $250k-1MM 3 $578 $192,667
    Agriculture operations loans - <$1MM 3 $921 $307,000
    Agriculture operations loans - $100-250k 2 $421 $210,500
    Agriculture operations loans - $250k-1MM 1 $500 $500,000