# Independence Bank of Kentucky

> **Canonical URL:** https://saferate.com/lenders/independence-bank-of-kentucky


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


Independence Bank of Kentucky is a bank, headquartered in Owensboro, KY, serving borrowers across 5 states, with 305 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 45% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 47% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 5493002N5OA6GM61AC70
- **Headquarters:** Owensboro, KY
- **Geographic Reach:** Regional
- **States Served:** 5
- **State List:** FL, IN, KY, MS, TN
- **Markets (MSAs):** 5
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Sound ☺️
- Score: 55/100
- Rating: ●●●○○ (3/5)

### Pull Through: Sound ☺️
- Score: 53/100
- Rating: ●●●○○ (3/5)

### Pricing Details
- **Average Rate Spread:** +0.186%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $1,434
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 305
- **Dollar Volume:** $70 million
- **Applications Received:** 436
- **Market Share:** 1.00%

## Typical Borrower Profile

- **Average Loan Amount:** $228,377
- **Average Borrower Income:** $142,361
- **Average Property Value:** $328,082

## Safe Rate Awards 🏆

- ⭐ **Conventional Gold Superstar** (63%)

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 68/100 | 303 | +0.185% | $1,437 | Strong 😀 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 266 loans, Score: 67/100 (Strong)
- Refinance: 37 loans, Score: 45/100 (Sound)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 64/100 | 268 | $64M | +0.184% | Strong 😀 |
| Refinance | 42/100 | 37 | $6M | +0.202% | Sound ☺️ |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| KY | 294 | 0.63% | 84/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Non |  | 162 | 65/100 |
| Owensboro, KY | KY | 46 | 70/100 |
| Paducah, KY | KY-IL | 33 | 86/100 |
| Louisville/Jefferson County, KY | KY-IN | 28 | 57/100 |
| Bowling Green, KY | KY | 20 | 56/100 |

## Where This Lender Ranks

Independence Bank of Kentucky appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥉 **#3** in Owensboro, KY for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/owensboro-ky/best-mortgage-lenders/banks/conventional-loans)
- 🥉 **#3** in Paducah, KY Banks
  - [View Full Rankings](https://saferate.com/paducah-ky/best-mortgage-lenders/banks)
- 🥉 **#3** in Paducah, KY for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/paducah-ky/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#5** in Paducah, KY for Conventional Loans
  - [View Full Rankings](https://saferate.com/paducah-ky/best-mortgage-lenders/conventional-loans)
- 🏆 **#6** in Paducah, KY
  - [View Full Rankings](https://saferate.com/paducah-ky/best-mortgage-lenders)
- 🏆 **#7** in Owensboro, KY
  - [View Full Rankings](https://saferate.com/owensboro-ky/best-mortgage-lenders)
- 🏆 **#7** in Owensboro, KY for Conventional Loans
  - [View Full Rankings](https://saferate.com/owensboro-ky/best-mortgage-lenders/conventional-loans)
- 🏆 **#7** in Bowling Green, KY Banks
  - [View Full Rankings](https://saferate.com/bowling-green-ky/best-mortgage-lenders/banks)
- 🏆 **#9** in Bowling Green, KY for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/bowling-green-ky/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#19** in Kentucky for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/kentucky/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#19** in Bowling Green, KY
  - [View Full Rankings](https://saferate.com/bowling-green-ky/best-mortgage-lenders)

## Frequently Asked Questions

### What loan types does Independence Bank of Kentucky offer?

Independence Bank of Kentucky offers the following mortgage loan types: Conventional. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does Independence Bank of Kentucky offer mortgages?

Independence Bank of Kentucky offers mortgages in 5 states: FL, IN, KY, MS, TN.

### How competitive are Independence Bank of Kentucky's mortgage rates?

Independence Bank of Kentucky has a pricing score of 55/100 (Sound), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.186% above market average.

### What type of lender is Independence Bank of Kentucky?

Independence Bank of Kentucky is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Owensboro, KY.

### What is Independence Bank of Kentucky's loan approval success rate?

Independence Bank of Kentucky has a pull-through score of 53/100 (Sound). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/independence-bank-of-kentucky

### How to Cite

> "Independence Bank of Kentucky Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/independence-bank-of-kentucky

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