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 and Refi loans. Prairie State Bank And Trust has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Decatur, Bloomington, Champaign, and Charleston 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% 4/18/24
    30 Year Conventional Refi 6.30% 4/18/24
    30 Year Cash-out Refi 6.26% 4/18/24
    15 Year Conventional Purchase 5.82% 4/18/24
    15 Year Conventional Refi 5.79% 4/18/24
    15 Year Cash-out Refi 5.79% 4/18/24
    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

    626

    Origination Dollar Volume (All Markets)

    $95,950,000

    Employee count

    151 Show all (11) 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) 161 $25,935,000 $161,087 $1,504 4.12%
    DECATUR, IL (FHA|USDA|VA) 161 $23,625,000 $146,739 $1,361 4.24%
    BLOOMINGTON, IL (FHA|USDA|VA) 33 $9,685,000 $293,485 $1,174 4.23%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 39 $9,115,000 $233,718 $1,510 4.20%
    Charleston-Mattoon, IL (FHA|USDA|VA) 69 $8,275,000 $119,928 $1,365 3.92%
    Jacksonville, IL (FHA|USDA|VA) 77 $6,015,000 $78,117 $1,213 4.54%
    Outside of Metro Areas 36 $4,120,000 $114,444 $1,301 4.11%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 21 $3,165,000 $150,714 $1,552 4.45%
    PEORIA, IL (FHA|USDA|VA) 12 $1,370,000 $114,167 $1,450 4.34%
    Traverse City, MI (FHA|USDA|VA) 2 $850,000 $425,000 $2,729 3.56%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $595,000 $595,000 $4,867 4.75%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $565,000 $565,000 $3,931 4.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $425,000 $425,000 $2,257 3.63%
    Taylorville, IL (FHA|USDA|VA) 2 $370,000 $185,000 $1,277 4.38%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $295,000 $295,000 $4,003 4.38%
    Lincoln, IL (FHA|USDA|VA) 2 $270,000 $135,000 $1,576 5.10%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $245,000 $245,000 $1,818 3.88%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $245,000 $245,000 $1,699 3.75%
    Effingham, IL (FHA|USDA|VA) 1 $205,000 $205,000 $1,033 3.50%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,364 3.75%
    KANKAKEE, IL (FHA|USDA|VA) 1 $155,000 $155,000 $2,023 3.75%
    Oxford, MS (FHA|USDA|VA) 1 $135,000 $135,000 $3,330 3.25%
    Quincy, IL-MO (FHA|USDA|VA) 1 $135,000 $135,000 $1,441 3.63%
    Prairie State Bank And Trust's top markets include Springfield, Decatur, Bloomington, Champaign, and Charleston among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Georgia (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.

    ILLINOIS STATE CREDIT UNION
    Similarity Rank: 110
    UNIVERSITY OF ILLINOIS COMMUNITY
    Similarity Rank: 150
    HEARTLAND
    Similarity Rank: 182
    WEST COMMUNITY
    Similarity Rank: 190
    First State Bank
    Similarity Rank: 250
    United Bank of Union
    Similarity Rank: 275
    D.W. BROWN MORTGAGE CORP.
    Similarity Rank: 302
    ELECTRO SAVINGS CREDIT UNION
    Similarity Rank: 396
    Dieterich Bank
    Similarity Rank: 442
    CapGrow Home Mortgage, LLC
    Similarity Rank: 450

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 625 $95,845,000 $153,352 $1,433 4.20%
    HELOC 1 $105,000 $105,000 n/a 4.95%

    For 2019, Prairie State Bank And Trust's most frequently originated type of loan was Conventional, with 625 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 293 $46,465,000 $158,584 $1,741 4.25%
    Refi 180 $30,450,000 $169,167 $1,061 3.92%
    Cash Out Refi 103 $14,555,000 $141,311 $1,303 4.15%
    Home Improvement 31 $1,945,000 $62,742 $844 5.25%
    Other 19 $2,535,000 $133,421 $1,120 4.79%

    For 2019, Prairie State Bank And Trust's most frequently cited loan purpose was Home Purchase, with 293 originations. The 2nd most popular reason was Refi, with 180 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 264 $41,200,000 $156,061 $1,535 4.05%
    15 Year 137 $21,135,000 $154,270 $1,418 3.45%
    5 Year 103 $12,225,000 $118,689 $575 5.13%
    Other 71 $8,255,000 $116,268 $1,167 5.15%
    20 Year 25 $4,145,000 $165,800 $1,285 3.87%
    10 Year 21 $8,225,000 $391,667 $1,439 3.42%
    1 Year 4 $510,000 $127,500 $1,631 5.21%
    3 Year 1 $255,000 $255,000 $0 6.50%

    For 2019, Prairie State Bank And Trust's most frequently cited loan duration was 30 Year, with 264 originations. The 2nd most popular length was 15 Year, with 137 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 460 $70,050,000 $152,283
    $1k-2k 9 $3,215,000 $357,222
    $5k+ 1 $465,000 $465,000

    Prairie State Bank And Trust's average total fees were $1,535, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 460 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 298 $51,990,000 $174,463
    4-5% 211 $29,735,000 $140,924
    5-6% 72 $7,700,000 $106,944
    2.5-3% 28 $5,210,000 $186,071
    6-7% 16 $1,290,000 $80,625
    7-8% 1 $25,000 $25,000

    During 2019, Prairie State Bank And Trust's average interest rate for loans was 4.05%, while their most frequently originated rate bucket for loans was 3-4%, with 298 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 277 $15,825,000 $57,130 $1,298 4.48%
    $100k-200k 213 $30,075,000 $141,197 $1,428 4.04%
    $200k-400k 112 $30,470,000 $272,054 $1,497 3.88%
    $400k-600k 20 $9,230,000 $461,500 $2,355 3.88%
    $1MM+ 4 $10,350,000 $2,587,500 $0 4.46%

    2019 saw Prairie State Bank And Trust place emphasis on $100,000 or less loans with 277 originations, totaling $15,825,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 125 $12,135,000 $97,080 $1,461 4.26%
    $100k-150k 123 $19,215,000 $156,220 $1,386 4.12%
    $50k or less 96 $7,380,000 $76,875 $1,418 4.19%
    $75k-100k 84 $11,370,000 $135,357 $1,330 3.98%
    $150k-250k 81 $16,755,000 $206,852 $1,393 4.21%
    $250k+ 71 $12,935,000 $182,183 $2,088 4.28%

    Prairie State Bank And Trust lent most frequently to those with incomes in the $50k-75k range, with 125 originations. The second most popular income band? $100k-150k, with 123 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 166 $26,050,000 $156,928 $1,434 3.97%
    30-36% 114 $16,160,000 $141,754 $1,405 4.14%
    <20% 100 $14,740,000 $147,400 $1,399 3.80%
    36% 16 $3,350,000 $209,375 $1,582 3.67%
    39% 16 $2,250,000 $140,625 $1,570 3.88%
    40% 12 $1,790,000 $149,167 $1,513 3.67%
    37% 12 $1,200,000 $100,000 $1,220 4.06%
    42% 11 $1,685,000 $153,182 $1,490 3.92%
    38% 11 $1,405,000 $127,727 $1,374 4.18%
    43% 10 $1,880,000 $188,000 $1,466 3.86%
    44% 9 $1,575,000 $175,000 $1,351 3.99%
    41% 8 $1,090,000 $136,250 $1,593 3.77%
    45% 6 $1,210,000 $201,667 $1,396 4.02%
    47% 5 $1,145,000 $229,000 $1,633 4.10%
    >60% 3 $515,000 $171,667 $1,406 4.58%
    48% 3 $495,000 $165,000 $1,504 4.25%
    49% 3 $435,000 $145,000 $1,601 4.00%
    46% 1 $135,000 $135,000 $1,899 3.63%

    Prairie State Bank And Trust lent most frequently to those with DTI ratios of 20-30%, with 166 originations. The next most common DTI ratio? 30-36%, with 114 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 567 $76,045,000 $134,118 $1,416 4.20%
    Not applicable 24 $12,550,000 $522,917 $0 5.19%
    Asian 28 $6,230,000 $222,500 $1,676 3.52%
    Black 5 $885,000 $177,000 $2,150 4.45%
    Not provided 2 $240,000 $120,000 $773 3.69%

    Approval Rates

    Total approvals of all applications
    93.37%

    Prairie State Bank And Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.25%

    Prairie State Bank And Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 626 $95,950,000 $153,275

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $11,945,000 $1,085,909
    Single Family (1-4 Units):Manufactured 5 $535,000 $107,000
    Single Family (1-4 Units):Site-Built 610 $83,470,000 $136,836

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 31 $2,675,000 $86,290 $1,255 4.16%
    40-60% 80 $11,340,000 $141,750 $1,432 3.98%
    60-80% 294 $49,090,000 $166,973 $1,379 4.15%
    80-100% 199 $31,975,000 $160,678 $1,611 4.23%
    Over 100% 2 $250,000 $125,000 $0 5.25%
    Under 20% 20 $620,000 $31,000 $572 5.59%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Prairie State Bank and Trust 621 W Lincoln Ave Charleston, IL 61920 Full Service B&M $68,943
    Prairie State Bank and Trust Route 107 And Main Street Perry, IL 62362 Limited, Drive-thru $4,190
    Prairie State Bank and Trust Main And Cleveland Farmersville, IL 62533 Limited, Drive-thru $6,742
    Prairie State Bank and Trust 100 Main Street Meredosia, IL 62665 Full Service B&M $16,760
    Prairie State Bank and Trust 1000 West Pershing Road Decatur, IL 62526 Full Service B&M $29,923
    Prairie State Bank and Trust 1001 S Durkin Dr Springfield, IL 62704 Full Service B&M $75,388
    Prairie State Bank and Trust 105 W Lincoln Ave Lewistown, IL 61542 Full Service B&M $50,964
    Prairie State Bank and Trust 1052 West Morton Avenue Jacksonville, IL 62650 Full Service B&M $56,132
    Prairie State Bank and Trust 1101 Trinity Lane Bloomington, IL 61704 Full Service B&M $20,296
    Prairie State Bank and Trust 1361 Toronto Road Springfield, IL 62707 Full Service B&M $31,164
    Prairie State Bank and Trust 1820 18th Street Charleston, IL 61920 Full Service B&M $7,686
    Prairie State Bank and Trust 201 East Jackson Street Virden, IL 62690 Full Service B&M $69,671
    Prairie State Bank and Trust 2121 Western Avenue Mattoon, IL 61938 Full Service B&M $24,048
    Prairie State Bank and Trust 340 West Main Street Mount Zion, IL 62549 Full Service B&M $81,234
    Prairie State Bank and Trust 345 Mary Street Illiopolis, IL 62539 Full Service B&M $13,513
    Prairie State Bank and Trust 3751 West Wabash Avenue Springfield, IL 62711 Full Service B&M $33,403
    Prairie State Bank and Trust 402 North 3rd Girard, IL 62640 Full Service B&M $16,185
    Prairie State Bank and Trust 410 West Curtis Road Savoy, IL 61874 Full Service B&M $13,997
    Prairie State Bank and Trust 4485 East U.S. Route 36 Decatur, IL 62521 Full Service B&M $3,097
    Prairie State Bank and Trust 603 N. Springfield Street Virden, IL 62690 Limited, Drive-thru $0

    For 2019, Prairie State Bank And Trust had 20 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $27,980
    Net interest income $25,356
    Total noninterest income $4,419
    Gross Fiduciary activities income $79
    Service charges on deposit accounts $1,080
    Trading account gains and fees $0
    Additional Noninterest Income $3,260
    Pre-tax net operating income $10,382
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,258
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,258
    Minority interest net income $0
    Net income $10,258
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,258

    Prairie State Bank And Trust's gross interest income from loans was $27,980,000.
    Prairie State Bank And Trust's net interest income from loans was $25,356,000.
    Prairie State Bank And Trust's fee based income from loans was $1,080,000.
    Prairie State Bank And Trust's net income from loans was $10,258,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,624
    Provision for credit losses $737
    Total noninterest expense $18,656
    Salaries and employee benefits $11,730
    Premises and equipment expense $1,782
    Additional noninterest expense $5,144
    Applicable income taxes $124
    Net charge-offs $677
    Cash dividends $8,299

    Prairie State Bank And Trust's interest expense for loans was $2,624,000.
    Prairie State Bank And Trust's payroll and benefits expense were $11,730,000.
    Prairie State Bank And Trust's property, plant and equipment expenses $1,782,000.

    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 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 $597,280
    Deposits held in domestic offices $597,280
    Deposits by Individuals, partnerships, and corporations $483,521
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $111,549
    Deposits by Commercial banks and other depository institutions in U.S. $2,210
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $67,026
    Demand deposits $46,641
    Nontransaction accounts $530,254
    Money market deposit accounts (MMDAs) $32,716
    Other savings deposits (excluding MMDAs) $389,457
    Total time deposits $108,081
    Total time and savings deposits $550,639
    Noninterest-bearing deposits $123,639
    Interest-bearing deposits $473,641
    Retail deposits $554,552
    IRAs and Keogh plan accounts $10,044
    Brokered deposits $9
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $684,678
    Cash & Balances due from depository institutions $18,423
    Interest-bearing balances $9,437
    Total securities $140,613
    Federal funds sold & reverse repurchase $0
    Net loans and leases $503,667
    Loan and leases loss allowance $5,130
    Trading account assets $0
    Bank premises and fixed assets $12,102
    Other real estate owned $959
    Goodwill and other intangibles $3,054
    All other assets $5,860

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $684,678
    Total Liabilities $603,978
    Total deposits $597,280
    Interest-bearing deposits $473,641
    Deposits held in domestic offices $597,280
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $4,127
    Trading liabilities $0
    Other borrowed funds $823
    Subordinated debt $0
    All other liabilities $1,748

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $503,667
    Loan and leases loss allowance $5,130
    Total loans and leases (domestic) $508,797
    All real estate loans $418,903
    Real estate loans in domestic offices $418,903
    Construction and development loans $24,514
    Residential 1-4 family construction $9,393
    Other construction, all land development and other land $15,121
    Loans secured by nonfarm nonresidential properties $109,181
    Nonfarm nonresidential secured by owner-occupied properties $48,880
    Commercial real estate & other non-farm, non-residential $60,301
    Multifamily residential real estate $84,577
    1-4 family residential loans $116,430
    Farmland loans $84,201
    Loans held in foreign offices $0
    Farm loans $21,676
    Commercial and industrial loans $60,065
    To non-U.S. addressees $0
    Loans to individuals $5,481
    Credit card loans $1
    Related Plans $34
    Consumer Auto Loans $2,112
    Other loans to individuals $3,334
    All other loans & leases $2,672
    Loans to foreign governments and official institutions $0
    Other loans $189
    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 $738
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Prairie State Bank and Trust had $503,667,000 of loans outstanding in 2019. $418,903,000 of loans were in real estate loans. $24,514,000 of loans were in development loans. $84,577,000 of loans were in multifamily mortgage loans. $116,430,000 of loans were in 1-4 family mortgage loans. $21,676,000 of loans were in farm loans. $1,000 of loans were in credit card loans. $2,112,000 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 347 $61,166 $176,271
    Nonfarm, nonresidential loans - <$100k 108 $4,345 $40,231
    Nonfarm, nonresidential loans - $100-250k 132 $16,980 $128,636
    Nonfarm, nonresidential loans - $250k-1MM 107 $39,841 $372,346
    Commercial & Industrial, US addressed loans - <$1MM 474 $33,381 $70,424
    Commercial & Industrial, US addressed loans - <$100k 337 $7,652 $22,706
    Commercial & Industrial, US addressed loans - $100-250k 87 $8,841 $101,621
    Commercial & Industrial, US addressed loans - $250k-1MM 50 $16,888 $337,760
    Farmland loans - <$1MM 205 $27,516 $134,224
    Farmland loans - <$100k 68 $2,665 $39,191
    Farmland loans - $100-250k 80 $9,907 $123,838
    Farmland loans - $250k-1MM 57 $14,944 $262,175
    Agriculture operations loans - <$1MM 197 $14,613 $74,178
    Agriculture operations loans - <$100k 128 $3,447 $26,930
    Agriculture operations loans - $100-250k 42 $4,876 $116,095
    Agriculture operations loans - $250k-1MM 27 $6,290 $232,963