Bankorion Mortgage Rates, Fees & Info

ORION, IL

LEI: 2138009TTY1M4OJRXV14

Tax ID: 36-1818410

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Bankorion is a smaller bank specializing in Home Purchase and Refi loans. Bankorion has a high proportion of conventional loans. Their top markets by origination volume include: Davenport, Des Moines, Duluth, Nashville, and Cape Coral among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bankorion 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.

    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.

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    Originations

    183

    Origination Dollar Volume (All Markets)

    $23,355,000

    Employee count

    88

    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
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 166 $20,080,000 $120,964 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $1,055,000 $1,055,000 $0 0.00%
    Outside of Metro Areas 2 $430,000 $215,000 $0 0.00%
    DULUTH, MN-WI (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $240,000 $120,000 $0 0.00%
    Clinton, IA (FHA|USDA|VA) 4 $220,000 $55,000 $0 0.00%
    Galesburg, IL (FHA|USDA|VA) 2 $200,000 $100,000 $0 0.00%
    Ottawa, IL (FHA|USDA|VA) 2 $170,000 $85,000 $0 0.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Baraboo, WI (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Bankorion's top markets include Davenport, Des Moines, Duluth, Nashville, and Cape Coral among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 183 $23,355,000 $127,623 $0 0.00%

    For 2018, Bankorion's most frequently originated type of loan was Conventional, with 183 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 101 $13,975,000 $138,366 $0 0.00%
    Refi 47 $7,075,000 $150,532 $0 0.00%
    Home Improvement 25 $1,535,000 $61,400 $0 0.00%
    Other 5 $185,000 $37,000 $0 0.00%
    Cash Out Refi 5 $585,000 $117,000 $0 0.00%

    For 2018, Bankorion's most frequently cited loan purpose was Home Purchase, with 101 originations. The 2nd most popular reason was Refi, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 183 $23,355,000 $127,623 $0 0.00%

    For 2018, Bankorion's most frequently cited loan duration was Other, with 183 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 107 $6,325,000 $59,112 $0 0.00%
    $100k-200k 44 $5,940,000 $135,000 $0 0.00%
    $200k-400k 26 $7,210,000 $277,308 $0 0.00%
    $400k-600k 3 $1,365,000 $455,000 $0 0.00%
    $600k-1MM 2 $1,460,000 $730,000 $0 0.00%
    $1MM+ 1 $1,055,000 $1,055,000 $0 0.00%

    2018 saw Bankorion place emphasis on $100,000 or less loans with 107 originations, totaling $6,325,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 33 $3,045,000 $92,273 $0 0.00%
    $100k-150k 26 $3,710,000 $142,692 $0 0.00%
    $50k or less 24 $1,810,000 $75,417 $0 0.00%
    $75k-100k 21 $2,585,000 $123,095 $0 0.00%
    $150k-250k 17 $4,075,000 $239,706 $0 0.00%
    $250k+ 4 $1,360,000 $340,000 $0 0.00%

    Bankorion lent most frequently to those with incomes in the $50k-75k range, with 33 originations. The second most popular income band? $100k-150k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 183 $23,355,000 $127,623 $0 0.00%

    Bankorion lent most frequently to those with DTI ratios of Exempt%, with 183 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 124 $15,700,000 $126,613 $0 0.00%
    Not applicable 53 $6,135,000 $115,755 $0 0.00%
    Asian 4 $1,340,000 $335,000 $0 0.00%
    Other Asian 1 $105,000 $105,000 $0 0.00%
    Not provided 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.90%

    Bankorion has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.71%

    Bankorion has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 183 $23,355,000 $127,623

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $1,055,000 $1,055,000
    Multifamily:Site-Built 8 $2,460,000 $307,500
    Single Family (1-4 Units):Site-Built 174 $19,840,000 $114,023

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANCORPSOUTH BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 33.3%
    BANCORPSOUTH BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    BANCORPSOUTH BANK FHA mortgage Trouble during payment process 1 16.7%
    BANCORPSOUTH BANK Other type of mortgage Struggling to pay mortgage 1 16.7%
    BANCORPSOUTH BANK Other type of mortgage Trouble during payment process 1 16.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    BankOrion 1114 Fourth Street Orion, IL 61273 Full Service B&M $156,005
    BankOrion 112 South West Street Cambridge, IL 61238 Limited, Drive-thru $0
    BankOrion 1855 Middle Road Bettendorf, IA 52722 Full Service B&M $6,344
    BankOrion 201 North Prospect Cambridge, IL 61238 Full Service B&M $59,217
    BankOrion 201 West Main Street Aledo, IL 61231 Full Service B&M $69,297
    BankOrion 302 West Front Street Annawan, IL 61234 Full Service B&M $39,049
    BankOrion 3701 69th Avenue Moline, IL 61265 Full Service B&M $12,131
    BankOrion 5301 44th Avenue Moline, IL 61265 Full Service B&M $40,943

    For 2018, Bankorion had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,111
    Net interest income $13,465
    Total noninterest income $1,900
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $440
    Trading account gains and fees $0
    Additional Noninterest Income $1,460
    Pre-tax net operating income $5,300
    Securities gains (or losses, -) $26
    Income before extraordinary items $4,273
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,273
    Minority interest net income $0
    Net income $4,273
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,252

    Bankorion's gross interest income from loans was $16,111,000.
    Bankorion's net interest income from loans was $13,465,000.
    Bankorion's fee based income from loans was $440,000.
    Bankorion's net income from loans was $4,273,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,646
    Provision for credit losses $601
    Total noninterest expense $9,464
    Salaries and employee benefits $5,912
    Premises and equipment expense $946
    Additional noninterest expense $2,606
    Applicable income taxes $1,053
    Net charge-offs $534
    Cash dividends $657

    Bankorion's interest expense for loans was $2,646,000.
    Bankorion's payroll and benefits expense were $5,912,000.
    Bankorion's property, plant and equipment expenses $946,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 2.0%
    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 $368,199
    Deposits held in domestic offices $368,199
    Deposits by Individuals, partnerships, and corporations $300,806
    Deposits by U.S. Government $14
    Deposits by States and political subdivisions in the U.S. $61,253
    Deposits by Commercial banks and other depository institutions in U.S. $6,126
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $30,388
    Demand deposits $11,961
    Nontransaction accounts $337,811
    Money market deposit accounts (MMDAs) $51,559
    Other savings deposits (excluding MMDAs) $182,468
    Total time deposits $103,784
    Total time and savings deposits $356,238
    Noninterest-bearing deposits $52,910
    Interest-bearing deposits $315,289
    Retail deposits $351,722
    IRAs and Keogh plan accounts $21,089
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $452,428
    Cash & Balances due from depository institutions $12,443
    Interest-bearing balances $4,590
    Total securities $139,955
    Federal funds sold & reverse repurchase $0
    Net loans and leases $276,994
    Loan and leases loss allowance $2,594
    Trading account assets $0
    Bank premises and fixed assets $6,052
    Other real estate owned $1,161
    Goodwill and other intangibles $5,820
    All other assets $10,003

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $452,428
    Total Liabilities $399,789
    Total deposits $368,199
    Interest-bearing deposits $315,289
    Deposits held in domestic offices $368,199
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $10,731
    Trading liabilities $0
    Other borrowed funds $18,300
    Subordinated debt $0
    All other liabilities $2,559

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $276,994
    Loan and leases loss allowance $2,594
    Total loans and leases (domestic) $279,588
    All real estate loans $208,336
    Real estate loans in domestic offices $208,336
    Construction and development loans $7,179
    Residential 1-4 family construction $3,033
    Other construction, all land development and other land $4,146
    Loans secured by nonfarm nonresidential properties $63,230
    Nonfarm nonresidential secured by owner-occupied properties $35,488
    Commercial real estate & other non-farm, non-residential $27,742
    Multifamily residential real estate $17,411
    1-4 family residential loans $86,106
    Farmland loans $34,410
    Loans held in foreign offices $0
    Farm loans $17,998
    Commercial and industrial loans $33,895
    To non-U.S. addressees $0
    Loans to individuals $12,390
    Credit card loans $0
    Related Plans $57
    Consumer Auto Loans $8,348
    Other loans to individuals $3,985
    All other loans & leases $6,969
    Loans to foreign governments and official institutions $0
    Other loans $243
    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 $3,142
    Non 1-4 family restructured loans & leases $3,142
    Total loans and leases (foreign) $0

    BANKORION had $276,994,000 of loans outstanding in 2018. $208,336,000 of loans were in real estate loans. $7,179,000 of loans were in development loans. $17,411,000 of loans were in multifamily mortgage loans. $86,106,000 of loans were in 1-4 family mortgage loans. $17,998,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,348,000 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 179 $31,174 $174,156
    Nonfarm, nonresidential loans - <$100k 53 $2,115 $39,906
    Nonfarm, nonresidential loans - $100-250k 59 $6,977 $118,254
    Nonfarm, nonresidential loans - $250k-1MM 67 $22,082 $329,582
    Commercial & Industrial, US addressed loans - <$1MM 248 $19,479 $78,544
    Commercial & Industrial, US addressed loans - <$100k 178 $4,015 $22,556
    Commercial & Industrial, US addressed loans - $100-250k 29 $2,625 $90,517
    Commercial & Industrial, US addressed loans - $250k-1MM 41 $12,839 $313,146
    Farmland loans - <$1MM 67 $9,788 $146,090
    Farmland loans - <$100k 19 $952 $50,105
    Farmland loans - $100-250k 26 $3,278 $126,077
    Farmland loans - $250k-1MM 22 $5,558 $252,636
    Agriculture operations loans - <$1MM 90 $6,570 $73,000
    Agriculture operations loans - <$100k 52 $1,007 $19,365
    Agriculture operations loans - $100-250k 23 $1,896 $82,435
    Agriculture operations loans - $250k-1MM 15 $3,667 $244,467