Mortgage lender · Evansville, IN · LEI 549300MTH7LUU0OHYB47

First Federal Savings Bank review: approval odds, rates and grade (2025)

First Federal Savings Bank earns a B, better than most small mortgage lenders. It turned down 7.7% of the applications it decided on in 2025, which ranks in the 59th percentile for approval odds. Compared against 1,883 small mortgage lenders using 2025 HMDA filings.

209Applications2025
76.6%Originatedof applications
7.7%Decision denial ratenational 22.6%
Median ratenational 6.63%
$32MLoan volume5 states

First Federal Savings Bank at a glance, 2025

Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.

7.2%Denial rate (all applications)-10.80 pts vs national
7.7%Denial rate (decided applications)-14.86 pts vs national
76.6%Origination rate+18.53 pts vs national
5.7%Withdrawn by applicant
1.4%Closed for incompleteness
Median interest rate
Median rate spread (pts over APOR)
$145,000Median loan amount
Median total loan costs
$91kMedian applicant income
Median loan-to-value
0High-cost (HOEPA) loans

How the B grade breaks down

Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.

Approval oddsdecision denial rate, weight 45%

59th7.7% denied

Processwithdrawn + incomplete share, weight 15%

71st7.2%

Trend, 2023–2025

YearApplicationsOriginatedDenial rateDecision denialMedian rateVolume
20234633932.8%3.0%6.88%$110M
20243132555.4%5.9%7.13%$71M
20252091607.2%7.7%$32M

What First Federal Savings Bank lends

Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.

By loan purpose

Home purchase 107 51% · 1.9% denied
Refinance 49 23% · 16.3% denied
Cash-out refinance 10 5% · 0.0% denied
Home improvement 23 11% · 13.0% denied
Other / HELOC 20 10% · 10.0% denied

By loan type

Conventional 209 100% · 7.2% denied

Also: 0 home-equity lines, 0 reverse mortgages, 4 manufactured homes, 20 investment properties.

Why First Federal Savings Bank denies applications

Primary reason reported for each of the 15 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.

Debt-to-income ratio 5 33%
Collateral 4 27%
Credit history 4 27%
Other 2 13%

How these reasons compare nationally →

Who gets approved at First Federal Savings Bank

Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.

Applicant incomeApplicationsOriginatedDecision denial rate
Under $50k362318.2%
$50k – $100k69592.9%
$100k – $150k513710.6%
Over $250k20150.0%
Applicant ageApplicationsOriginatedDecision denial rate
Under 2523158.7%
25–3451416.1%
35–4434296.5%
45–54322010.7%
55–6425214.4%
65–74221615.0%

Where First Federal Savings Bank lends

5 states and 15 counties in 2025. Click a state for the lender's full record there.

StateApplicationsOriginatedDenial rateMedian rateRank in state
Indiana2011547.5%#203
Kentucky540.0%#492

Frequently asked questions

First Federal Savings Bank denied 7.7% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 59th percentile of small mortgage lenders.

The most common reason First Federal Savings Bank gave in 2025 was "debt-to-income ratio", cited on 33.3% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.

In 2025, 51% of its applications were for home purchases, 28% for refinancing (including cash-out), and 21% for home improvement or other purposes. By loan type: 100% conventional, 0% FHA, 0% VA.

Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.

About this data. HMDA data is published once a year by the CFPB. The current release covers applications acted on in calendar year 2025. Figures describe applications the lender acted on, including loans it later sold. Interest rates and costs are medians on originated loans only; some depository institutions are exempt from reporting pricing fields, which is why a few cells read "—". MortgageGrades is not affiliated with First Federal Savings Bank. Data sources · Methodology