Prairie State Bank And Trust Mortgage Rates, Fees & Info

Springfield, IL

LEI: 2549001E11O22GGBEL86

Tax ID: 37-1239418

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Prairie State Bank And Trust is a smaller bank specializing in Home Purchase loans. Prairie State Bank And Trust has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Decatur, Champaign, Charleston, and Jacksonville among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Prairie State Bank And Trust 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. Prairie State Bank And Trust 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 6.40% 4/21/24
    30 Year Conventional Refi 6.30% 4/21/24
    30 Year Cash-out Refi 6.26% 4/21/24
    15 Year Conventional Purchase 5.82% 4/21/24
    15 Year Conventional Refi 5.79% 4/21/24
    15 Year Cash-out Refi 5.79% 4/21/24
    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.

    Prairie State Bank And Trust Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Prairie State Bank And Trust. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    531

    Origination Dollar Volume (All Markets)

    $67,335,000

    Employee count

    167 Show all (6) 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
    SPRINGFIELD, IL (FHA|USDA|VA) 134 $18,830,000 $140,522 $1,525 4.73%
    DECATUR, IL (FHA|USDA|VA) 145 $16,125,000 $111,207 $1,323 4.98%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 46 $7,350,000 $159,783 $1,096 4.80%
    Charleston-Mattoon, IL (FHA|USDA|VA) 55 $5,695,000 $103,545 $1,371 4.53%
    Jacksonville, IL (FHA|USDA|VA) 50 $4,060,000 $81,200 $1,486 4.97%
    BLOOMINGTON, IL (FHA|USDA|VA) 21 $3,285,000 $156,429 $1,454 4.74%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 21 $3,115,000 $148,333 $1,423 4.87%
    Outside of Metro Areas 29 $2,425,000 $83,621 $1,350 4.83%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 3 $1,485,000 $495,000 $3,084 4.76%
    PEORIA, IL (FHA|USDA|VA) 13 $1,175,000 $90,385 $954 4.93%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $780,000 $390,000 $1,414 5.44%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $555,000 $555,000 $4,064 4.80%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $375,000 $375,000 $6,142 4.63%
    Traverse City, MI (FHA|USDA|VA) 1 $365,000 $365,000 $2,117 4.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $355,000 $355,000 $4,019 4.50%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $245,000 $245,000 $1,929 4.75%
    Lincoln, IL (FHA|USDA|VA) 1 $225,000 $225,000 $1,828 4.88%
    Effingham, IL (FHA|USDA|VA) 1 $215,000 $215,000 $1,355 4.50%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $215,000 $215,000 $1,307 4.00%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $205,000 $205,000 $2,624 4.88%
    Taylorville, IL (FHA|USDA|VA) 1 $165,000 $165,000 $1,844 4.75%
    Sterling, IL (FHA|USDA|VA) 1 $65,000 $65,000 $1,670 3.63%
    DANVILLE, IL (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.75%
    Prairie State Bank And Trust's top markets include Springfield, Decatur, Champaign, Charleston, and Jacksonville among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Prairie State Bank and Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Bank & Trust IL
    Similarity Rank: 45
    The Fisher National Bank
    Similarity Rank: 90
    Ozarks Federal Savings and Loan Association
    Similarity Rank: 100
    Community Bank of Trenton
    Similarity Rank: 108
    First State Bank
    Similarity Rank: 124
    First National Bank of Waterloo
    Similarity Rank: 200
    ILLINOIS STATE CREDIT UNION
    Similarity Rank: 228
    RELIANCE BANK
    Similarity Rank: 238
    CapGrow Home Mortgage, LLC
    Similarity Rank: 272
    UNIVERSITY OF ILLINOIS COMMUNITY
    Similarity Rank: 275

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 531 $67,335,000 $126,808 $1,433 4.82%

    For 2018, Prairie State Bank And Trust's most frequently originated type of loan was Conventional, with 531 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 327 $46,095,000 $140,963 $1,659 4.82%
    Cash Out Refi 92 $10,980,000 $119,348 $1,139 4.73%
    Refi 57 $6,165,000 $108,158 $1,074 4.65%
    Other 31 $2,915,000 $94,032 $1,073 4.83%
    Home Improvement 24 $1,180,000 $49,167 $754 5.61%

    For 2018, Prairie State Bank And Trust's most frequently cited loan purpose was Home Purchase, with 327 originations. The 2nd most popular reason was Cash Out Refi, with 92 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 208 $31,170,000 $149,856 $1,584 4.77%
    5 Year 116 $10,020,000 $86,379 $599 5.26%
    15 Year 90 $10,110,000 $112,333 $1,518 4.20%
    Other 79 $10,915,000 $138,165 $980 5.15%
    10 Year 19 $2,715,000 $142,895 $1,410 4.32%
    20 Year 9 $1,125,000 $125,000 $1,264 4.50%
    3 Year 5 $465,000 $93,000 $431 4.78%
    1 Year 5 $815,000 $163,000 $0 5.54%

    For 2018, Prairie State Bank And Trust's most frequently cited loan duration was 30 Year, with 208 originations. The 2nd most popular length was 5 Year, with 116 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 369 $50,295,000 $136,301
    $1k-2k 6 $1,080,000 $180,000
    $2k-3k 3 $995,000 $331,667
    $4k-5k 1 $325,000 $325,000

    Prairie State Bank And Trust's average total fees were $1,584, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 369 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 345 $48,005,000 $139,145
    5-6% 134 $13,650,000 $101,866
    3-4% 39 $5,175,000 $132,692
    6-7% 13 $505,000 $38,846

    During 2018, Prairie State Bank And Trust's average interest rate for loans was 4.77%, while their most frequently originated rate bucket for loans was 4-5%, with 345 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 284 $15,570,000 $54,824 $1,265 4.92%
    $100k-200k 149 $20,285,000 $136,141 $1,449 4.68%
    $200k-400k 77 $20,065,000 $260,584 $1,669 4.78%
    $400k-600k 17 $7,875,000 $463,235 $2,025 4.67%
    $600k-1MM 3 $2,115,000 $705,000 $1,975 4.83%
    $1MM+ 1 $1,425,000 $1,425,000 $4,925 4.35%

    2018 saw Prairie State Bank And Trust place emphasis on $100,000 or less loans with 284 originations, totaling $15,570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 108 $10,390,000 $96,204 $1,298 4.78%
    $50k or less 94 $6,470,000 $68,830 $1,433 4.71%
    $100k-150k 88 $12,260,000 $139,318 $1,414 4.93%
    $75k-100k 78 $8,900,000 $114,103 $1,450 4.73%
    $250k+ 52 $14,280,000 $274,615 $1,741 4.78%
    $150k-250k 42 $5,710,000 $135,952 $1,468 4.99%

    Prairie State Bank And Trust lent most frequently to those with incomes in the $50k-75k range, with 108 originations. The second most popular income band? $50k or less, with 94 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 128 $18,620,000 $145,469 $1,356 4.67%
    30-36% 93 $11,625,000 $125,000 $1,484 4.73%
    <20% 70 $10,040,000 $143,429 $1,477 4.67%
    36% 22 $3,090,000 $140,455 $1,481 4.79%
    41% 13 $1,175,000 $90,385 $1,506 4.72%
    38% 12 $1,140,000 $95,000 $1,425 4.75%
    37% 11 $1,395,000 $126,818 $1,419 4.94%
    40% 9 $1,375,000 $152,778 $1,662 4.61%
    42% 8 $1,020,000 $127,500 $1,316 4.39%
    43% 6 $1,070,000 $178,333 $1,799 4.67%
    44% 5 $455,000 $91,000 $1,424 4.80%
    45% 4 $500,000 $125,000 $1,333 4.44%
    39% 4 $780,000 $195,000 $1,794 4.72%
    48% 3 $215,000 $71,667 $1,104 4.00%
    >60% 2 $340,000 $170,000 $632 5.03%
    47% 1 $165,000 $165,000 $1,844 4.75%
    49% 1 $225,000 $225,000 $1,632 5.13%
    50-60% 1 $215,000 $215,000 $719 5.50%
    46% 1 $205,000 $205,000 $1,539 5.50%

    Prairie State Bank And Trust lent most frequently to those with DTI ratios of 20-30%, with 128 originations. The next most common DTI ratio? 30-36%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 449 $55,945,000 $124,599 $1,402 4.82%
    Not applicable 53 $6,685,000 $126,132 $0 4.97%
    Asian 15 $2,255,000 $150,333 $1,757 4.51%
    Asian Indian 5 $1,395,000 $279,000 $2,722 4.78%
    Not provided 2 $680,000 $340,000 $0 4.25%
    Black 7 $375,000 $53,571 $1,503 4.57%

    Approval Rates

    Total approvals of all applications
    92.86%

    Prairie State Bank And Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.92%

    Prairie State Bank And Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 531 $67,335,000 $126,808

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $3,555,000 $323,182
    Single Family (1-4 Units):Manufactured 3 $155,000 $51,667
    Single Family (1-4 Units):Site-Built 517 $63,625,000 $123,066

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 47 $3,325,000 $70,745 $1,000 4.93%
    40-60% 71 $9,435,000 $132,887 $1,379 4.65%
    60-80% 223 $28,655,000 $128,498 $1,473 4.80%
    80-100% 171 $25,265,000 $147,749 $1,659 4.82%
    Under 20% 19 $655,000 $34,474 $591 5.60%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Prairie State Bank and Trust 100 Main Street Meredosia, IL 62665 Full Service B&M $17,344
    Prairie State Bank and Trust 1000 West Pershing Road Decatur, IL 62526 Full Service B&M $32,882
    Prairie State Bank and Trust 1001 S Durkin Dr Springfield, IL 62704 Full Service B&M $73,335
    Prairie State Bank and Trust 105 W Lincoln Ave Lewistown, IL 61542 Full Service B&M $56,214
    Prairie State Bank and Trust 1052 West Morton Avenue Jacksonville, IL 62650 Full Service B&M $28,790
    Prairie State Bank and Trust 1101 Trinity Lane Bloomington, IL 61704 Full Service B&M $22,785
    Prairie State Bank and Trust 1361 Toronto Road Springfield, IL 62707 Full Service B&M $31,431
    Prairie State Bank and Trust 1820 18th Street Charleston, IL 61920 Full Service B&M $8,653
    Prairie State Bank and Trust 201 East Jackson Street Virden, IL 62690 Full Service B&M $63,095
    Prairie State Bank and Trust 2121 Western Avenue Mattoon, IL 61938 Full Service B&M $22,637
    Prairie State Bank and Trust 340 West Main Street Mount Zion, IL 62549 Full Service B&M $83,693
    Prairie State Bank and Trust 345 Mary Street Illiopolis, IL 62539 Full Service B&M $12,721
    Prairie State Bank and Trust 3751 West Wabash Avenue Springfield, IL 62704 Full Service B&M $57,612
    Prairie State Bank and Trust 402 North 3rd Girard, IL 62640 Full Service B&M $10,498
    Prairie State Bank and Trust 410 West Curtis Road Savoy, IL 61874 Full Service B&M $16,159
    Prairie State Bank and Trust 4485 East U.S. Route 36 Decatur, IL 62521 Full Service B&M $2,786
    Prairie State Bank and Trust 603 N. Springfield Street Virden, IL 62690 Limited, Drive-thru $0
    Prairie State Bank and Trust 621 W Lincoln Ave Charleston, IL 61920 Full Service B&M $73,696
    Prairie State Bank and Trust Main And Cleveland Farmersville, IL 62533 Limited, Drive-thru $6,595
    Prairie State Bank and Trust Route 107 And Main Street Perry, IL 62362 Limited, Drive-thru $4,459

    For 2018, Prairie State Bank And Trust had 20 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,929
    Net interest income $24,815
    Total noninterest income $4,886
    Gross Fiduciary activities income $70
    Service charges on deposit accounts $1,169
    Trading account gains and fees $0
    Additional Noninterest Income $3,647
    Pre-tax net operating income $10,992
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,857
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,857
    Minority interest net income $0
    Net income $10,857
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,857

    Prairie State Bank And Trust's gross interest income from loans was $26,929,000.
    Prairie State Bank And Trust's net interest income from loans was $24,815,000.
    Prairie State Bank And Trust's fee based income from loans was $1,169,000.
    Prairie State Bank And Trust's net income from loans was $10,857,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,114
    Provision for credit losses $810
    Total noninterest expense $17,899
    Salaries and employee benefits $10,609
    Premises and equipment expense $1,749
    Additional noninterest expense $5,541
    Applicable income taxes $135
    Net charge-offs $810
    Cash dividends $9,290

    Prairie State Bank And Trust's interest expense for loans was $2,114,000.
    Prairie State Bank And Trust's payroll and benefits expense were $10,609,000.
    Prairie State Bank And Trust's property, plant and equipment expenses $1,749,000.

    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 0.0%
    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 $612,918
    Deposits held in domestic offices $612,918
    Deposits by Individuals, partnerships, and corporations $495,212
    Deposits by U.S. Government $7
    Deposits by States and political subdivisions in the U.S. $116,715
    Deposits by Commercial banks and other depository institutions in U.S. $984
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $54,013
    Demand deposits $33,607
    Nontransaction accounts $558,905
    Money market deposit accounts (MMDAs) $39,490
    Other savings deposits (excluding MMDAs) $404,325
    Total time deposits $115,090
    Total time and savings deposits $579,311
    Noninterest-bearing deposits $121,306
    Interest-bearing deposits $491,612
    Retail deposits $556,677
    IRAs and Keogh plan accounts $10,883
    Brokered deposits $5,007
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $710,084
    Cash & Balances due from depository institutions $16,175
    Interest-bearing balances $5,347
    Total securities $149,200
    Federal funds sold & reverse repurchase $0
    Net loans and leases $521,776
    Loan and leases loss allowance $5,070
    Trading account assets $0
    Bank premises and fixed assets $12,374
    Other real estate owned $1,313
    Goodwill and other intangibles $3,583
    All other assets $5,663

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $710,084
    Total Liabilities $631,343
    Total deposits $612,918
    Interest-bearing deposits $491,612
    Deposits held in domestic offices $612,918
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $4,362
    Trading liabilities $0
    Other borrowed funds $12,185
    Subordinated debt $0
    All other liabilities $1,878

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $521,776
    Loan and leases loss allowance $5,070
    Total loans and leases (domestic) $526,846
    All real estate loans $433,920
    Real estate loans in domestic offices $433,920
    Construction and development loans $28,711
    Residential 1-4 family construction $7,181
    Other construction, all land development and other land $21,530
    Loans secured by nonfarm nonresidential properties $112,956
    Nonfarm nonresidential secured by owner-occupied properties $49,698
    Commercial real estate & other non-farm, non-residential $63,258
    Multifamily residential real estate $86,258
    1-4 family residential loans $125,076
    Farmland loans $80,919
    Loans held in foreign offices $0
    Farm loans $19,613
    Commercial and industrial loans $64,444
    To non-U.S. addressees $0
    Loans to individuals $5,522
    Credit card loans $0
    Related Plans $45
    Consumer Auto Loans $2,010
    Other loans to individuals $3,467
    All other loans & leases $3,347
    Loans to foreign governments and official institutions $0
    Other loans $275
    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 $759
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Prairie State Bank and Trust had $521,776,000 of loans outstanding in 2018. $433,920,000 of loans were in real estate loans. $28,711,000 of loans were in development loans. $86,258,000 of loans were in multifamily mortgage loans. $125,076,000 of loans were in 1-4 family mortgage loans. $19,613,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,010,000 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 354 $62,662 $177,011
    Nonfarm, nonresidential loans - <$100k 116 $4,586 $39,534
    Nonfarm, nonresidential loans - $100-250k 133 $17,150 $128,947
    Nonfarm, nonresidential loans - $250k-1MM 105 $40,926 $389,771
    Commercial & Industrial, US addressed loans - <$1MM 507 $35,431 $69,884
    Commercial & Industrial, US addressed loans - <$100k 370 $8,647 $23,370
    Commercial & Industrial, US addressed loans - $100-250k 82 $8,366 $102,024
    Commercial & Industrial, US addressed loans - $250k-1MM 55 $18,418 $334,873
    Farmland loans - <$1MM 217 $27,716 $127,724
    Farmland loans - <$100k 78 $2,788 $35,744
    Farmland loans - $100-250k 84 $10,952 $130,381
    Farmland loans - $250k-1MM 55 $13,976 $254,109
    Agriculture operations loans - <$1MM 226 $15,046 $66,575
    Agriculture operations loans - <$100k 158 $3,950 $25,000
    Agriculture operations loans - $100-250k 41 $4,961 $121,000
    Agriculture operations loans - $250k-1MM 27 $6,135 $227,222