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

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%	11/21/24
30 Year Conventional Refi	7.05%	11/21/24
30 Year Cash-out Refi	7.04%	11/21/24
15 Year Conventional Purchase	6.24%	11/21/24
15 Year Conventional Refi	5.68%	11/21/24
15 Year Cash-out Refi	5.68%	11/21/24
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

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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)

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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