Goodfield State Bank Mortgage Rates, Fees & Info

Goodfield, IL

LEI: 2549002W5VVAQ5IH5726

Tax ID: 37-0296600

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

Review & Overview

Goodfield State Bank is a smaller bank specializing in Home Purchase and Refi loans. Goodfield State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Peoria, Bloomington, Crestview, North Port, and Phoenix among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

Goodfield State Bank has an above average approval rate when compared to the average across all lenders. Goodfield State Bank 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	6.33%	4/28/24
30 Year Conventional Refi	6.13%	4/28/24
30 Year Cash-out Refi	6.41%	4/28/24
15 Year Conventional Purchase	5.75%	4/28/24
15 Year Conventional Refi	5.72%	4/28/24
15 Year Cash-out Refi	5.72%	4/28/24
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.

Goodfield State Bank Mortgage Calculator

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This is not an official calculator from Goodfield State Bank. 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

376

Origination Dollar Volume (All Markets)

$58,970,000

Employee count

Awards

Goodfield State Bank 30 Year Conventional Loans silver

Goodfield State Bank 30 Year Conventional Loans gold

Show all (2) 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
PEORIA, IL (FHA\|USDA\|VA)	328	$50,490,000	$153,933	$1,546	3.26%
BLOOMINGTON, IL (FHA\|USDA\|VA)	29	$4,365,000	$150,517	$1,756	3.22%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	1	$825,000	$825,000	$6,900	3.65%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$515,000	$515,000	$3,604	3.50%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	1	$485,000	$485,000	$4,497	3.00%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$475,000	$475,000	$3,225	3.50%
ST. LOUIS, MO-IL (FHA\|USDA\|VA)	2	$380,000	$190,000	$1,280	3.81%
CHAMPAIGN-URBANA, IL (FHA\|USDA\|VA)	3	$245,000	$81,667	$1,954	3.42%
COLUMBIA, MO (FHA\|USDA\|VA)	1	$195,000	$195,000	$1,725	2.80%
Ottawa, IL (FHA\|USDA\|VA)	1	$165,000	$165,000	$1,766	2.75%
SOUTH BEND-MISHAWAKA, IN-MI (FHA\|USDA\|VA)	1	$165,000	$165,000	$2,130	2.75%
Charleston-Mattoon, IL (FHA\|USDA\|VA)	1	$155,000	$155,000	$1,974	3.13%
Outside of Metro Areas	1	$135,000	$135,000	$0	4.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	4.50%
Galesburg, IL (FHA\|USDA\|VA)	1	$95,000	$95,000	$1,541	3.10%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$85,000	$85,000	$1,188	4.00%
SPRINGFIELD, IL (FHA\|USDA\|VA)	1	$45,000	$45,000	$2,026	5.00%
Pontiac, IL (FHA\|USDA\|VA)	1	$25,000	$25,000	$1,132	4.00%

Goodfield State Bank's top markets include Peoria, Bloomington, Crestview, North Port, and Phoenix among others.

Their top states include:

Illinois (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Michigan (FHA|USDA|VA)

Similar Lenders

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

Marine Bank
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Similarity Rank: 324

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INB
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Fortress Bank
Similarity Rank: 2024

Heartland Bank and Trust Company
Similarity Rank: 2028

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	376	$58,970,000	$156,835	$1,600	3.27%

For 2021, Goodfield State Bank's most frequently originated type of loan was Conventional, with 376 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	197	$30,875,000	$156,726	$1,815	3.41%
Refi	107	$16,055,000	$150,047	$1,343	3.08%
Cash Out Refi	46	$9,260,000	$201,304	$1,646	2.84%
Other	16	$1,710,000	$106,875	$1,171	3.64%
Home Improvement	10	$1,070,000	$107,000	$801	4.01%

For 2021, Goodfield State Bank's most frequently cited loan purpose was Home Purchase, with 197 originations. The 2nd most popular reason was Refi, with 107 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	147	$27,165,000	$184,796	$1,812	3.05%
Other	96	$12,190,000	$126,979	$1,493	3.80%
15 Year	62	$9,750,000	$157,258	$1,600	2.47%
1 Year	29	$4,355,000	$150,172	$877	3.98%
5 Year	28	$3,540,000	$126,429	$987	3.85%
20 Year	9	$1,465,000	$162,778	$1,526	2.84%
10 Year	4	$500,000	$125,000	$1,526	2.47%
3 Year	1	$5,000	$5,000	$0	6.00%

For 2021, Goodfield State Bank's most frequently cited loan duration was 30 Year, with 147 originations. The 2nd most popular length was Other, with 96 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	332	$53,460,000	$161,024
$1k-2k	1	$185,000	$185,000

Goodfield State Bank's average total fees were $1,812, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 332 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	189	$30,855,000	$163,254
2.5-3%	103	$17,845,000	$173,252
<2.5%	53	$7,655,000	$144,434
4-5%	23	$1,915,000	$83,261
5-6%	7	$695,000	$99,286
6-7%	1	$5,000	$5,000

During 2021, Goodfield State Bank's average interest rate for loans was 3.05%, while their most frequently originated rate bucket for loans was 3-4%, with 189 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	164	$23,040,000	$140,488	$1,659	3.12%
$100,000 or less	118	$7,320,000	$62,034	$1,405	3.54%
$200k-400k	85	$23,825,000	$280,294	$1,549	3.21%
$400k-600k	8	$3,960,000	$495,000	$2,598	3.13%
$600k-1MM	1	$825,000	$825,000	$6,900	3.65%

2021 saw Goodfield State Bank place emphasis on $100k-200k loans with 164 originations, totaling $23,040,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	76	$6,650,000	$87,500	$1,715	3.36%
$75k-100k	73	$11,635,000	$159,384	$1,672	3.18%
$100k-150k	68	$12,510,000	$183,971	$1,491	3.23%
$50k-75k	67	$7,775,000	$116,045	$1,569	3.19%
$150k-250k	52	$12,060,000	$231,923	$1,374	3.12%
$250k+	11	$4,345,000	$395,000	$2,245	3.44%

Goodfield State Bank lent most frequently to those with incomes in the $50k or less range, with 76 originations. The second most popular income band? $75k-100k, with 73 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	132	$22,230,000	$168,409	$1,633	3.13%
<20%	84	$12,600,000	$150,000	$1,452	3.19%
30-36%	53	$7,995,000	$150,849	$1,612	3.21%
41%	9	$1,545,000	$171,667	$1,783	3.41%
43%	8	$1,370,000	$171,250	$1,549	2.93%
36%	8	$1,590,000	$198,750	$1,752	3.09%
37%	8	$1,610,000	$201,250	$1,945	3.44%
50-60%	7	$495,000	$70,714	$1,544	4.75%
>60%	6	$1,080,000	$180,000	$1,680	4.06%
45%	5	$785,000	$157,000	$1,498	3.04%
40%	5	$735,000	$147,000	$1,724	3.20%
42%	4	$410,000	$102,500	$1,790	3.53%
48%	4	$650,000	$162,500	$1,838	3.13%
38%	4	$690,000	$172,500	$1,357	3.28%
44%	3	$525,000	$175,000	$2,180	3.50%
47%	3	$465,000	$155,000	$2,022	3.00%
39%	2	$160,000	$80,000	$1,679	3.05%
49%	2	$40,000	$20,000	$524	4.25%

Goodfield State Bank lent most frequently to those with DTI ratios of 20-30%, with 132 originations. The next most common DTI ratio? <20%, with 84 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	345	$54,785,000	$158,797	$1,598	3.23%
Not applicable	29	$3,995,000	$137,759	$0	3.79%
American Indian	1	$95,000	$95,000	$1,813	2.50%
Black	1	$95,000	$95,000	$2,046	3.13%

Approval Rates

Total approvals of all applications
99.21%

Goodfield State Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination

Points and Fees

Points	Originations	Total Value	Average Loan
NA	376	$58,970,000	$156,835

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	376	$58,970,000	$156,835

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	22	$1,620,000	$73,636	$1,238	3.41%
40-60%	44	$6,630,000	$150,682	$1,439	2.97%
60-80%	153	$27,805,000	$181,732	$1,641	3.08%
80-100%	137	$22,345,000	$163,102	$1,819	3.45%
Under 20%	20	$570,000	$28,500	$639	4.06%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Goodfield State Bank	1805 South Main Street Eureka, IL 61530	Full Service B&M	$28,371
Goodfield State Bank	201 South Eureka Street Goodfield, IL 61742	Full Service B&M	$82,889
Goodfield State Bank	320 N. Main St. Roanoke, IL 61561	Full Service B&M	$4,704
Goodfield State Bank	800 West Mount Vernon Street Metamora, IL 61548	Full Service B&M	$37,980

For 2021, Goodfield State Bank had 4 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$5,778
Net interest income	$5,386
Total noninterest income	$2,910
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$115
Trading account gains and fees	$0
Additional Noninterest Income	$2,795
Pre-tax net operating income	$3,897
Securities gains (or losses, -)	$0
Income before extraordinary items	$3,840
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$3,840
Minority interest net income	$0
Net income	$3,840
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$3,840

Goodfield State Bank's gross interest income from loans was $5,778,000.
Goodfield State Bank's net interest income from loans was $5,386,000.
Goodfield State Bank's fee based income from loans was $115,000.
Goodfield State Bank's net income from loans was $3,840,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$392
Provision for credit losses	$286
Total noninterest expense	$4,113
Salaries and employee benefits	$2,510
Premises and equipment expense	$498
Additional noninterest expense	$1,105
Applicable income taxes	$57
Net charge-offs	$7
Cash dividends	$2,315

Goodfield State Bank's interest expense for loans was $392,000.
Goodfield State Bank's payroll and benefits expense were $2,510,000.
Goodfield State Bank's property, plant and equipment expenses $498,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	2.0%
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	1.0%
Credit card loans	0.0%
Other individual loans	1.0%
Auto loans	0.0%
Other consumer loans	3.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$156,365
Deposits held in domestic offices	$156,365
Deposits by Individuals, partnerships, and corporations	$136,594
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$19,761
Deposits by Commercial banks and other depository institutions in U.S.	$9
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$60,324
Demand deposits	$23,832
Nontransaction accounts	$96,040
Money market deposit accounts (MMDAs)	$38,037
Other savings deposits (excluding MMDAs)	$22,098
Total time deposits	$35,907
Total time and savings deposits	$132,532
Noninterest-bearing deposits	$23,941
Interest-bearing deposits	$132,424
Retail deposits	$150,420
IRAs and Keogh plan accounts	$2,413
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$177,956
Cash & Balances due from depository institutions	$23,569
Interest-bearing balances	$19,452
Total securities	$25,936
Federal funds sold & reverse repurchase	$0
Net loans and leases	$122,566
Loan and leases loss allowance	$1,572
Trading account assets	$0
Bank premises and fixed assets	$3,659
Other real estate owned	$0
Goodwill and other intangibles	$1,363
All other assets	$863

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$177,956
Total Liabilities	$156,645
Total deposits	$156,365
Interest-bearing deposits	$132,424
Deposits held in domestic offices	$156,365
% insured (estimated)	$87
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$280

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$122,566
Loan and leases loss allowance	$1,572
Total loans and leases (domestic)	$124,138
All real estate loans	$87,842
Real estate loans in domestic offices	$87,842
Construction and development loans	$7,982
Residential 1-4 family construction	$3,446
Other construction, all land development and other land	$4,536
Loans secured by nonfarm nonresidential properties	$32,414
Nonfarm nonresidential secured by owner-occupied properties	$14,619
Commercial real estate & other non-farm, non-residential	$17,795
Multifamily residential real estate	$6,287
1-4 family residential loans	$32,647
Farmland loans	$8,512
Loans held in foreign offices	$0
Farm loans	$3,386
Commercial and industrial loans	$28,519
To non-U.S. addressees	$0
Loans to individuals	$4,391
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$3,078
Other loans to individuals	$1,313
All other loans & leases	$0
Loans to foreign governments and official institutions	$0
Other loans	$0
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	$103
Non 1-4 family restructured loans & leases	$103
Total loans and leases (foreign)	$0

Goodfield State Bank had $122,566,000 of loans outstanding in 2021. $87,842,000 of loans were in real estate loans. $7,982,000 of loans were in development loans. $6,287,000 of loans were in multifamily mortgage loans. $32,647,000 of loans were in 1-4 family mortgage loans. $3,386,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,078,000 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	140	$23,945	$171,036
Nonfarm, nonresidential loans - <$100k	45	$1,778	$39,511
Nonfarm, nonresidential loans - $100-250k	52	$7,462	$143,500
Nonfarm, nonresidential loans - $250k-1MM	43	$14,705	$341,977
Commercial & Industrial, US addressed loans - <$1MM	245	$22,564	$92,098
Commercial & Industrial, US addressed loans - <$100k	157	$4,159	$26,490
Commercial & Industrial, US addressed loans - $100-250k	44	$4,452	$101,182
Commercial & Industrial, US addressed loans - $250k-1MM	44	$13,953	$317,114
Farmland loans - <$1MM	24	$3,349	$139,542
Farmland loans - <$100k	6	$112	$18,667
Farmland loans - $100-250k	11	$1,145	$104,091
Farmland loans - $250k-1MM	7	$2,092	$298,857
Agriculture operations loans - <$1MM	43	$2,588	$60,186
Agriculture operations loans - <$100k	25	$486	$19,440
Agriculture operations loans - $100-250k	14	$1,270	$90,714
Agriculture operations loans - $250k-1MM	4	$832	$208,000