Bankorion Mortgage Rates, Fees & Info

ORION, IL

LEI: 2138009TTY1M4OJRXV14

Tax ID: 36-1818410

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Mortgage Data

Bank Data

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, Denver, Key West, Galesburg, and Clinton 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 a below average pick rate when compared to similar lenders.

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Originations

212

Origination Dollar Volume (All Markets)

$25,550,000

Employee count

94

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) 198 $22,890,000 $115,606 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $630,000 $315,000 $0 0.00%
Key West, FL (FHA|USDA|VA) 1 $575,000 $575,000 $0 0.00%
Galesburg, IL (FHA|USDA|VA) 2 $360,000 $180,000 $0 0.00%
Clinton, IA (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Outside of Metro Areas 2 $180,000 $90,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Ottawa, IL (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Baraboo, WI (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
Bankorion's top markets include Davenport, Denver, Key West, Galesburg, and Clinton among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 212 $25,550,000 $120,519 $0 0.00%

    For 2019, Bankorion's most frequently originated type of loan was Conventional, with 212 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 106 $12,960,000 $122,264 $0 0.00%
    Refi 64 $9,710,000 $151,719 $0 0.00%
    Home Improvement 27 $1,395,000 $51,667 $0 0.00%
    Other 11 $785,000 $71,364 $0 0.00%
    Cash Out Refi 4 $700,000 $175,000 $0 0.00%

    For 2019, Bankorion's most frequently cited loan purpose was Home Purchase, with 106 originations. The 2nd most popular reason was Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 212 $25,550,000 $120,519 $0 0.00%

    For 2019, Bankorion's most frequently cited loan duration was Other, with 212 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 123 $7,225,000 $58,740 $0 0.00%
    $100k-200k 61 $8,275,000 $135,656 $0 0.00%
    $200k-400k 21 $5,715,000 $272,143 $0 0.00%
    $400k-600k 4 $2,020,000 $505,000 $0 0.00%
    $600k-1MM 3 $2,315,000 $771,667 $0 0.00%

    2019 saw Bankorion place emphasis on $100,000 or less loans with 123 originations, totaling $7,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 35 $4,465,000 $127,571 $0 0.00%
    $50k-75k 32 $2,990,000 $93,438 $0 0.00%
    $75k-100k 31 $2,655,000 $85,645 $0 0.00%
    $50k or less 30 $2,200,000 $73,333 $0 0.00%
    $150k-250k 21 $4,465,000 $212,619 $0 0.00%
    $250k+ 5 $755,000 $151,000 $0 0.00%

    Bankorion lent most frequently to those with incomes in the $100k-150k range, with 35 originations. The second most popular income band? $50k-75k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 212 $25,550,000 $120,519 $0 0.00%

    Bankorion lent most frequently to those with DTI ratios of Exempt%, with 212 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 148 $15,860,000 $107,162 $0 0.00%
    Not applicable 52 $7,680,000 $147,692 $0 0.00%
    Asian 2 $1,030,000 $515,000 $0 0.00%
    Not provided 4 $400,000 $100,000 $0 0.00%
    Black 4 $380,000 $95,000 $0 0.00%
    American Indian 2 $200,000 $100,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.80%

    Bankorion has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.43%

    Bankorion has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 212 $25,550,000 $120,519

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $2,520,000 $315,000
    Single Family (1-4 Units):Manufactured 2 $130,000 $65,000
    Single Family (1-4 Units):Site-Built 202 $22,900,000 $113,366

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BANCORPSOUTH BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    BANCORPSOUTH BANK Conventional home mortgage Struggling to pay mortgage 1 16.7%
    BANCORPSOUTH BANK Conventional home mortgage Trouble during payment process 1 16.7%
    BANCORPSOUTH BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
    BANCORPSOUTH BANK Other type of mortgage Closing on a mortgage 2 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    BankOrion 1114 Fourth Street Orion, IL 61273 Full Service B&M $159,510
    BankOrion 112 South West Street Cambridge, IL 61238 Limited, Drive-thru $0
    BankOrion 1855 Middle Road Bettendorf, IA 52722 Full Service B&M $6,566
    BankOrion 201 North Prospect Cambridge, IL 61238 Full Service B&M $60,314
    BankOrion 201 West Main Street Aledo, IL 61231 Full Service B&M $65,308
    BankOrion 302 West Front Street Annawan, IL 61234 Full Service B&M $39,554
    BankOrion 3701 69th Avenue Moline, IL 61265 Full Service B&M $14,703
    BankOrion 5301 44th Avenue Moline, IL 61265 Full Service B&M $41,079

    For 2019, Bankorion had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,259
    Net interest income $13,865
    Total noninterest income $2,068
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $445
    Trading account gains and fees $0
    Additional Noninterest Income $1,623
    Pre-tax net operating income $5,675
    Securities gains (or losses, -) $21
    Income before extraordinary items $4,498
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,498
    Minority interest net income $0
    Net income $4,498
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,481

    Bankorion's gross interest income from loans was $17,259,000.
    Bankorion's net interest income from loans was $13,865,000.
    Bankorion's fee based income from loans was $445,000.
    Bankorion's net income from loans was $4,498,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,394
    Provision for credit losses $385
    Total noninterest expense $9,873
    Salaries and employee benefits $6,237
    Premises and equipment expense $863
    Additional noninterest expense $2,773
    Applicable income taxes $1,198
    Net charge-offs $0
    Cash dividends $696

    Bankorion's interest expense for loans was $3,394,000.
    Bankorion's payroll and benefits expense were $6,237,000.
    Bankorion's property, plant and equipment expenses $863,000.

    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 0.0%
    All other family 0.0%
    Commercial & industrial loans 2.0%
    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 $383,857
    Deposits held in domestic offices $383,857
    Deposits by Individuals, partnerships, and corporations $317,909
    Deposits by U.S. Government $5
    Deposits by States and political subdivisions in the U.S. $61,034
    Deposits by Commercial banks and other depository institutions in U.S. $4,909
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $27,325
    Demand deposits $9,420
    Nontransaction accounts $356,532
    Money market deposit accounts (MMDAs) $51,738
    Other savings deposits (excluding MMDAs) $190,786
    Total time deposits $114,008
    Total time and savings deposits $374,437
    Noninterest-bearing deposits $52,476
    Interest-bearing deposits $331,381
    Retail deposits $365,475
    IRAs and Keogh plan accounts $21,677
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $470,267
    Cash & Balances due from depository institutions $17,747
    Interest-bearing balances $8,418
    Total securities $159,148
    Federal funds sold & reverse repurchase $0
    Net loans and leases $270,896
    Loan and leases loss allowance $2,979
    Trading account assets $0
    Bank premises and fixed assets $5,945
    Other real estate owned $1,104
    Goodwill and other intangibles $5,836
    All other assets $9,591

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $470,267
    Total Liabilities $411,068
    Total deposits $383,857
    Interest-bearing deposits $331,381
    Deposits held in domestic offices $383,857
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $5,946
    Trading liabilities $0
    Other borrowed funds $18,300
    Subordinated debt $0
    All other liabilities $2,965

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $270,896
    Loan and leases loss allowance $2,979
    Total loans and leases (domestic) $273,875
    All real estate loans $205,997
    Real estate loans in domestic offices $205,997
    Construction and development loans $6,047
    Residential 1-4 family construction $1,613
    Other construction, all land development and other land $4,434
    Loans secured by nonfarm nonresidential properties $59,711
    Nonfarm nonresidential secured by owner-occupied properties $37,842
    Commercial real estate & other non-farm, non-residential $21,869
    Multifamily residential real estate $14,865
    1-4 family residential loans $92,128
    Farmland loans $33,246
    Loans held in foreign offices $0
    Farm loans $13,892
    Commercial and industrial loans $35,189
    To non-U.S. addressees $0
    Loans to individuals $12,801
    Credit card loans $0
    Related Plans $44
    Consumer Auto Loans $9,260
    Other loans to individuals $3,497
    All other loans & leases $5,996
    Loans to foreign governments and official institutions $0
    Other loans $521
    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 $3,318
    Non 1-4 family restructured loans & leases $3,318
    Total loans and leases (foreign) $0

    BANKORION had $270,896,000 of loans outstanding in 2019. $205,997,000 of loans were in real estate loans. $6,047,000 of loans were in development loans. $14,865,000 of loans were in multifamily mortgage loans. $92,128,000 of loans were in 1-4 family mortgage loans. $13,892,000 of loans were in farm loans. $0 of loans were in credit card loans. $9,260,000 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 167 $28,431 $170,246
    Nonfarm, nonresidential loans - <$100k 52 $1,872 $36,000
    Nonfarm, nonresidential loans - $100-250k 55 $6,510 $118,364
    Nonfarm, nonresidential loans - $250k-1MM 60 $20,049 $334,150
    Commercial & Industrial, US addressed loans - <$1MM 252 $20,711 $82,187
    Commercial & Industrial, US addressed loans - <$100k 181 $4,254 $23,503
    Commercial & Industrial, US addressed loans - $100-250k 28 $2,801 $100,036
    Commercial & Industrial, US addressed loans - $250k-1MM 43 $13,656 $317,581
    Farmland loans - <$1MM 64 $8,689 $135,766
    Farmland loans - <$100k 21 $1,048 $49,905
    Farmland loans - $100-250k 22 $2,711 $123,227
    Farmland loans - $250k-1MM 21 $4,930 $234,762
    Agriculture operations loans - <$1MM 89 $6,227 $69,966
    Agriculture operations loans - <$100k 48 $930 $19,375
    Agriculture operations loans - $100-250k 23 $1,560 $67,826
    Agriculture operations loans - $250k-1MM 18 $3,737 $207,611