First Bankers Trust Company Mortgage Rates, Fees & Info

Quincy, IL

LEI: 2549003SD8SH7JXN6S72

Tax ID: 37-0622729

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

Review & Overview

First Bankers Trust Company is a smaller bank specializing in Home Purchase and Cash Out Refi loans. First Bankers Trust Company has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Quincy, Macomb, Springfield, Hannibal, and Naples among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Bankers Trust Company 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. First Bankers Trust Company 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
Home Equity Line of Credit (HELOC)	6.27%	12/16/24
30 Year Conventional Purchase	6.56%	12/16/24
30 Year Conventional Refi	6.58%	12/16/24
30 Year Cash-out Refi	6.56%	12/16/24
30 Year USDA Purchase	7.13%	12/16/24
15 Year Conventional Purchase	6.19%	12/16/24
15 Year Conventional Refi	6.05%	12/16/24
15 Year Cash-out Refi	6.05%	12/16/24
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.

First Bankers Trust Company Mortgage Calculator

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

Originations

306

Origination Dollar Volume (All Markets)

$36,570,000

Employee count

169

Awards

First Bankers Trust Company 30 Year Conventional Loans gold

First Bankers Trust Company USDA Loans silver

Show all (4) 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
Quincy, IL-MO (FHA\|USDA\|VA)	203	$25,675,000	$126,478	$1,522	4.08%
Macomb, IL (FHA\|USDA\|VA)	31	$2,795,000	$90,161	$1,677	4.14%
Outside of Metro Areas	15	$2,065,000	$137,667	$1,798	4.54%
SPRINGFIELD, IL (FHA\|USDA\|VA)	22	$1,610,000	$73,182	$2,737	4.90%
Hannibal, MO (FHA\|USDA\|VA)	11	$1,145,000	$104,091	$1,631	4.30%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	2	$1,030,000	$515,000	$4,608	4.56%
Fort Madison-Keokuk, IA-IL-MO (FHA\|USDA\|VA)	12	$780,000	$65,000	$1,378	4.63%
ST. LOUIS, MO-IL (FHA\|USDA\|VA)	5	$505,000	$101,000	$2,131	5.05%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$305,000	$305,000	$4,088	4.38%
Burlington, IA-IL (FHA\|USDA\|VA)	1	$235,000	$235,000	$2,177	3.63%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	1	$195,000	$195,000	$1,978	3.75%
Lebanon, MO (FHA\|USDA\|VA)	1	$115,000	$115,000	$2,002	4.13%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	1	$115,000	$115,000	$2,541	3.00%

First Bankers Trust Company's top markets include Quincy, Macomb, Springfield, Hannibal, and Naples among others.

Their top states include:

Illinois (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Iowa (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Similar Lenders

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

First Bankers Trust Company
Similarity Rank: 117

First Mid Bank & Trust
Similarity Rank: 180

Morton Community Bank
Similarity Rank: 186

Town & Country Banc Mortgage Services
Similarity Rank: 306

United Community Bank
Similarity Rank: 336

DIAMOND RESIDENTIAL MORTGAGE CORPORATION
Similarity Rank: 612

Bank of Springfield
Similarity Rank: 623

CROSSCOUNTRY MORTGAGE, LLC
Similarity Rank: 1266

Mortgage Research Center, LLC
Similarity Rank: 1840

DELMAR FINANCIAL COMPANY
Similarity Rank: 1890

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	290	$35,010,000	$120,724	$1,516	4.21%
USDA	15	$1,495,000	$99,667	$3,180	4.03%
HELOC	1	$65,000	$65,000	n/a	6.15%

For 2019, First Bankers Trust Company's most frequently originated type of loan was Conventional, with 290 originations. Their 2nd most popular type was USDA, with 15 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	191	$23,265,000	$121,806	$1,641	4.26%
Cash Out Refi	80	$9,390,000	$117,375	$1,599	3.98%
Refi	33	$3,855,000	$116,818	$1,443	4.42%
Home Improvement	2	$60,000	$30,000	$0	5.75%

For 2019, First Bankers Trust Company's most frequently cited loan purpose was Home Purchase, with 191 originations. The 2nd most popular reason was Cash Out Refi, with 80 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	182	$23,860,000	$131,099	$1,656	4.10%
15 Year	61	$8,265,000	$135,492	$1,618	3.53%
5 Year	42	$2,660,000	$63,333	$807	5.41%
10 Year	9	$555,000	$61,667	$791	5.27%
20 Year	8	$910,000	$113,750	$1,556	3.80%
Other	3	$305,000	$101,667	$1,619	5.08%
3 Year	1	$15,000	$15,000	$0	6.50%

For 2019, First Bankers Trust Company's most frequently cited loan duration was 30 Year, with 182 originations. The 2nd most popular length was 15 Year, with 61 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	243	$31,235,000	$128,539
$1k-2k	18	$2,070,000	$115,000
$2k-3k	1	$435,000	$435,000

First Bankers Trust Company's average total fees were $1,656, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 243 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	152	$20,030,000	$131,776
4-5%	106	$11,510,000	$108,585
5-6%	33	$2,865,000	$86,818
2.5-3%	8	$1,810,000	$226,250
6-7%	7	$355,000	$50,714

During 2019, First Bankers Trust Company's average interest rate for loans was 4.10%, while their most frequently originated rate bucket for loans was 3-4%, with 152 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	163	$9,835,000	$60,337	$1,487	4.46%
$100k-200k	104	$14,700,000	$141,346	$1,682	3.91%
$200k-400k	33	$8,885,000	$269,242	$1,766	3.97%
$400k-600k	4	$1,880,000	$470,000	$2,121	4.13%
$600k-1MM	2	$1,270,000	$635,000	$2,278	4.13%

2019 saw First Bankers Trust Company place emphasis on $100,000 or less loans with 163 originations, totaling $9,835,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	86	$5,840,000	$67,907	$1,509	4.07%
$50k-75k	70	$7,810,000	$111,571	$1,774	3.98%
$100k-150k	45	$7,225,000	$160,556	$1,643	4.04%
$75k-100k	37	$4,955,000	$133,919	$1,620	4.33%
$150k-250k	21	$3,875,000	$184,524	$1,638	4.38%
$250k+	18	$5,000,000	$277,778	$1,261	4.42%

First Bankers Trust Company lent most frequently to those with incomes in the $50k or less range, with 86 originations. The second most popular income band? $50k-75k, with 70 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	83	$9,715,000	$117,048	$1,541	3.97%
30-36%	55	$6,355,000	$115,545	$1,816	4.10%
<20%	49	$6,795,000	$138,673	$1,425	4.02%
39%	10	$1,340,000	$134,000	$1,961	3.88%
36%	10	$1,420,000	$142,000	$1,518	4.10%
43%	10	$1,630,000	$163,000	$1,462	4.14%
41%	9	$845,000	$93,889	$1,419	4.19%
38%	8	$1,270,000	$158,750	$1,802	3.78%
42%	6	$990,000	$165,000	$1,673	3.96%
40%	5	$925,000	$185,000	$2,071	4.05%
48%	4	$330,000	$82,500	$1,456	4.00%
44%	4	$370,000	$92,500	$1,559	3.94%
45%	3	$355,000	$118,333	$1,487	3.96%
46%	3	$455,000	$151,667	$1,482	4.00%
47%	3	$665,000	$221,667	$1,759	3.58%
37%	2	$460,000	$230,000	$2,747	4.06%
>60%	1	$5,000	$5,000	$1,186	5.75%

First Bankers Trust Company lent most frequently to those with DTI ratios of 20-30%, with 83 originations. The next most common DTI ratio? 30-36%, with 55 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	271	$33,285,000	$122,823	$1,626	4.11%
Not provided	6	$1,090,000	$181,667	$997	4.60%
Not applicable	22	$1,080,000	$49,091	$0	5.30%
Black	4	$810,000	$202,500	$1,719	4.28%
Asian	3	$305,000	$101,667	$1,380	4.58%

Approval Rates

Total approvals of all applications
96.30%

First Bankers Trust Company 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
89.54%

First Bankers Trust Company has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	306	$36,570,000	$119,510

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	11	$545,000	$49,545
Single Family (1-4 Units):Manufactured	1	$55,000	$55,000
Single Family (1-4 Units):Site-Built	294	$35,970,000	$122,347

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	23	$1,605,000	$69,783	$1,246	4.60%
40-60%	36	$3,220,000	$89,444	$1,438	4.09%
60-80%	100	$14,860,000	$148,600	$1,592	4.13%
80-100%	133	$16,205,000	$121,842	$1,747	4.15%
Under 20%	14	$680,000	$48,571	$731	5.07%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
First Equity Mortgage Bankers, Inc.	Conventional home mortgage	Trouble during payment process	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Bankers Trust Company, National Association	101 East Collins Street Mendon, IL 62351	Full Service B&M	$39,919
First Bankers Trust Company, National Association	116 South Congress Street Rushville, IL 62681	Full Service B&M	$22,498
First Bankers Trust Company, National Association	12th And Broadway Quincy, IL 62301	Full Service B&M	$363,642
First Bankers Trust Company, National Association	1395 Buchanan Street Carthage, IL 62321	Full Service B&M	$40,514
First Bankers Trust Company, National Association	1630 East Jackson Macomb, IL 61455	Full Service B&M	$5,311
First Bankers Trust Company, National Association	2201 Wabash Ave Springfield, IL 62704	Full Service B&M	$24,206
First Bankers Trust Company, National Association	2321 Kochs Lane Quincy, IL 62301	Full Service B&M	$49,010
First Bankers Trust Company, National Association	3333 Broadway Quincy, IL 62301	Full Service B&M	$75,865
First Bankers Trust Company, National Association	440 North Lafayette Street Macomb, IL 61455	Full Service B&M	$85,133
First Bankers Trust Company, National Association	502 South 24th Street Quincy, IL 62301	Full Service B&M	$44,410

For 2019, First Bankers Trust Company had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$32,638
Net interest income	$26,754
Total noninterest income	$6,838
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,208
Trading account gains and fees	$0
Additional Noninterest Income	$5,630
Pre-tax net operating income	$10,041
Securities gains (or losses, -)	$-55
Income before extraordinary items	$7,917
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$7,917
Minority interest net income	$0
Net income	$7,917
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$7,960

First Bankers Trust Company's gross interest income from loans was $32,638,000.
First Bankers Trust Company's net interest income from loans was $26,754,000.
First Bankers Trust Company's fee based income from loans was $1,208,000.
First Bankers Trust Company's net income from loans was $7,917,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$5,884
Provision for credit losses	$2,400
Total noninterest expense	$21,151
Salaries and employee benefits	$12,267
Premises and equipment expense	$2,017
Additional noninterest expense	$6,867
Applicable income taxes	$2,069
Net charge-offs	$3,411
Cash dividends	$3,200

First Bankers Trust Company's interest expense for loans was $5,884,000.
First Bankers Trust Company's payroll and benefits expense were $12,267,000.
First Bankers Trust Company's property, plant and equipment expenses $2,017,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	1.0%
Construction & Land Development loans	5.0%
Nonfarm, nonresidential loans	1.0%
Multifamily residential loans	2.0%
1-4 family residential loans	2.0%
HELOC loans	0.0%
All other family	3.0%
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	$738,126
Deposits held in domestic offices	$738,126
Deposits by Individuals, partnerships, and corporations	$577,494
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$160,220
Deposits by Commercial banks and other depository institutions in U.S.	$411
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$125,533
Demand deposits	$59,655
Nontransaction accounts	$612,592
Money market deposit accounts (MMDAs)	$39,826
Other savings deposits (excluding MMDAs)	$369,722
Total time deposits	$203,044
Total time and savings deposits	$678,470
Noninterest-bearing deposits	$141,950
Interest-bearing deposits	$596,176
Retail deposits	$674,969
IRAs and Keogh plan accounts	$18,534
Brokered deposits	$32,349
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$921,626
Cash & Balances due from depository institutions	$31,825
Interest-bearing balances	$22,551
Total securities	$345,140
Federal funds sold & reverse repurchase	$13,031
Net loans and leases	$488,980
Loan and leases loss allowance	$11,788
Trading account assets	$0
Bank premises and fixed assets	$13,974
Other real estate owned	$377
Goodwill and other intangibles	$2,917
All other assets	$25,382

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$921,626
Total Liabilities	$825,150
Total deposits	$738,126
Interest-bearing deposits	$596,176
Deposits held in domestic offices	$738,126
% insured (estimated)	$69
Federal funds purchased and repurchase agreements	$80,533
Trading liabilities	$0
Other borrowed funds	$1,039
Subordinated debt	$0
All other liabilities	$5,452

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$488,980
Loan and leases loss allowance	$11,788
Total loans and leases (domestic)	$500,768
All real estate loans	$342,360
Real estate loans in domestic offices	$342,360
Construction and development loans	$7,723
Residential 1-4 family construction	$3,181
Other construction, all land development and other land	$4,542
Loans secured by nonfarm nonresidential properties	$178,574
Nonfarm nonresidential secured by owner-occupied properties	$65,419
Commercial real estate & other non-farm, non-residential	$113,155
Multifamily residential real estate	$19,477
1-4 family residential loans	$82,735
Farmland loans	$53,851
Loans held in foreign offices	$0
Farm loans	$35,680
Commercial and industrial loans	$66,878
To non-U.S. addressees	$0
Loans to individuals	$43,813
Credit card loans	$0
Related Plans	$161
Consumer Auto Loans	$40,169
Other loans to individuals	$3,483
All other loans & leases	$12,118
Loans to foreign governments and official institutions	$0
Other loans	$3,631
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	$1,238
Non 1-4 family restructured loans & leases	$1,238
Total loans and leases (foreign)	$0

First Bankers Trust Company had $488,980,000 of loans outstanding in 2019. $342,360,000 of loans were in real estate loans. $7,723,000 of loans were in development loans. $19,477,000 of loans were in multifamily mortgage loans. $82,735,000 of loans were in 1-4 family mortgage loans. $35,680,000 of loans were in farm loans. $0 of loans were in credit card loans. $40,169,000 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	237	$50,900	$214,768
Nonfarm, nonresidential loans - <$100k	83	$3,360	$40,482
Nonfarm, nonresidential loans - $100-250k	60	$6,521	$108,683
Nonfarm, nonresidential loans - $250k-1MM	94	$41,019	$436,372
Commercial & Industrial, US addressed loans - <$1MM	299	$21,799	$72,906
Commercial & Industrial, US addressed loans - <$100k	203	$4,442	$21,882
Commercial & Industrial, US addressed loans - $100-250k	48	$4,771	$99,396
Commercial & Industrial, US addressed loans - $250k-1MM	48	$12,586	$262,208
Farmland loans - <$1MM	212	$20,680	$97,547
Farmland loans - <$100k	73	$2,716	$37,205
Farmland loans - $100-250k	81	$7,889	$97,395
Farmland loans - $250k-1MM	58	$10,075	$173,707
Agriculture operations loans - <$1MM	334	$18,000	$53,892
Agriculture operations loans - <$100k	247	$5,924	$23,984
Agriculture operations loans - $100-250k	69	$7,571	$109,725
Agriculture operations loans - $250k-1MM	18	$4,505	$250,278