West Central Bank Mortgage Rates, Fees & Info
Ashland, ILLEI: 25490076YOMAEM6W0N66
Tax ID: 37-0532580
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Mortgage Data
Bank Data
Review & Overview
West Central Bank is a smaller bank specializing in Home Purchase and Refi loans. West Central Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Springfield, Tampa, Jacksonville, Ottawa, and Peoria among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)West Central Bank 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
163Origination Dollar Volume (All Markets)
$16,765,000Employee count
50Top 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) | 68 | $8,420,000 | $123,824 | $0 | 0.00% |
| Outside of Metro Areas | 76 | $5,270,000 | $69,342 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $1,025,000 | $1,025,000 | $0 | 0.00% |
| Jacksonville, IL (FHA|USDA|VA) | 9 | $955,000 | $106,111 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| PEORIA, IL (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $0 | 0.00% |
| SPRINGFIELD, MO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Taylorville, IL (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Lincoln, IL (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $0 | 0.00% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 159 | $16,365,000 | $102,925 | $0 | 0.00% |
| USDA | 3 | $225,000 | $75,000 | $0 | 0.00% |
| VA | 1 | $175,000 | $175,000 | $0 | 0.00% |
For 2019, West Central Bank's most frequently originated type of loan was Conventional, with 159 originations. Their 2nd most popular type was USDA, with 3 originations.
Loan Reason
For 2019, West Central Bank's most frequently cited loan purpose was Home Purchase, with 86 originations. The 2nd most popular reason was Refi, with 60 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 163 | $16,765,000 | $102,853 | $0 | 0.00% |
For 2019, West Central Bank's most frequently cited loan duration was Other, with 163 originations.
Loan Sizing
2019 saw West Central Bank place emphasis on $100,000 or less loans with 101 originations, totaling $5,235,000 in origination value.
Applicant Income
West Central Bank lent most frequently to those with incomes in the $50k or less range, with 49 originations. The second most popular income band? $75k-100k, with 30 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 163 | $16,765,000 | $102,853 | $0 | 0.00% |
West Central Bank lent most frequently to those with DTI ratios of Exempt%, with 163 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.76%
West Central Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.96%
West Central Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 163 | $16,765,000 | $102,853 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 17 | $855,000 | $50,294 |
| Single Family (1-4 Units):Site-Built | 146 | $15,910,000 | $108,973 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| West Coast Servicing, Inc. | Conventional home mortgage | Struggling to pay mortgage | 1 | 20.0% |
| West Coast Servicing, Inc. | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 3 | 60.0% |
| West Coast Servicing, Inc. | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 20.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| West Central Bank | 1 Plaza Drive Beardstown, IL 62618 | Limited, Drive-thru | $0 |
| West Central Bank | 122 South State Street Beardstown, IL 62618 | Full Service B&M | $51,623 |
| West Central Bank | 3600 Wabash Avenue Springfield, IL 62711 | Full Service B&M | $29,411 |
| West Central Bank | 400 E Buchanan St Ashland, IL 62612 | Full Service B&M | $63,039 |
| West Central Bank | Sylvan And Fremont Streets Ashland, IL 62612 | Limited, Drive-thru | $0 |
| West Central Bank | U.S. Routes 24 And 67 Rushville, IL 62681 | Full Service B&M | $11,348 |
For 2019, West Central Bank had 6 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $8,114 |
| Net interest income | $6,873 |
| Total noninterest income | $2,616 |
| Gross Fiduciary activities income | $66 |
| Service charges on deposit accounts | $571 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,979 |
| Pre-tax net operating income | $1,702 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $1,702 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,702 |
| Minority interest net income | $0 |
| Net income | $1,702 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,702 |
West Central Bank's gross interest income from loans was $8,114,000.
West Central Bank's net interest income from loans was $6,873,000.
West Central Bank's fee based income from loans was $571,000.
West Central Bank's net income from loans was $1,702,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,241 |
| Provision for credit losses | $426 |
| Total noninterest expense | $7,361 |
| Salaries and employee benefits | $3,880 |
| Premises and equipment expense | $1,135 |
| Additional noninterest expense | $2,346 |
| Applicable income taxes | $0 |
| Net charge-offs | $643 |
| Cash dividends | $714 |
West Central Bank's interest expense for loans was $1,241,000.
West Central Bank's payroll and benefits expense were $3,880,000.
West Central Bank's property, plant and equipment expenses $1,135,000.
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 | 3.0% |
| 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 | 1.0% |
| Personal loans | 1.0% |
| Credit card loans | 0.0% |
| Other individual loans | 1.0% |
| Auto loans | 2.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $161,257 |
| Deposits held in domestic offices | $161,257 |
| Deposits by Individuals, partnerships, and corporations | $141,623 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $19,633 |
| Deposits by Commercial banks and other depository institutions in U.S. | $0 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $56,301 |
| Demand deposits | $35,145 |
| Nontransaction accounts | $104,955 |
| Money market deposit accounts (MMDAs) | $16,506 |
| Other savings deposits (excluding MMDAs) | $24,591 |
| Total time deposits | $63,857 |
| Total time and savings deposits | $126,111 |
| Noninterest-bearing deposits | $37,059 |
| Interest-bearing deposits | $124,198 |
| Retail deposits | $144,275 |
| IRAs and Keogh plan accounts | $10,098 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $187,309 |
| Cash & Balances due from depository institutions | $12,924 |
| Interest-bearing balances | $7,945 |
| Total securities | $13,848 |
| Federal funds sold & reverse repurchase | $7,929 |
| Net loans and leases | $144,115 |
| Loan and leases loss allowance | $942 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,778 |
| Other real estate owned | $393 |
| Goodwill and other intangibles | $1,355 |
| All other assets | $1,967 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $187,309 |
| Total Liabilities | $166,973 |
| Total deposits | $161,257 |
| Interest-bearing deposits | $124,198 |
| Deposits held in domestic offices | $161,257 |
| % insured (estimated) | $83 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $5,000 |
| Subordinated debt | $0 |
| All other liabilities | $716 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $144,115 |
| Loan and leases loss allowance | $942 |
| Total loans and leases (domestic) | $145,057 |
| All real estate loans | $97,841 |
| Real estate loans in domestic offices | $97,841 |
| Construction and development loans | $10,109 |
| Residential 1-4 family construction | $2,812 |
| Other construction, all land development and other land | $7,297 |
| Loans secured by nonfarm nonresidential properties | $28,067 |
| Nonfarm nonresidential secured by owner-occupied properties | $9,942 |
| Commercial real estate & other non-farm, non-residential | $18,125 |
| Multifamily residential real estate | $3,756 |
| 1-4 family residential loans | $43,683 |
| Farmland loans | $12,226 |
| Loans held in foreign offices | $0 |
| Farm loans | $11,035 |
| Commercial and industrial loans | $20,915 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $13,629 |
| Credit card loans | $0 |
| Related Plans | $59 |
| Consumer Auto Loans | $6,862 |
| Other loans to individuals | $6,708 |
| All other loans & leases | $1,637 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $202 |
| Loans to depository institutions and acceptances of other banks | $600 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
West Central Bank had $144,115,000 of loans outstanding in 2019. $97,841,000 of loans were in real estate loans. $10,109,000 of loans were in development loans. $3,756,000 of loans were in multifamily mortgage loans. $43,683,000 of loans were in 1-4 family mortgage loans. $11,035,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,862,000 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 | 72 | $12,150 | $168,750 |
| Nonfarm, nonresidential loans - <$100k | 28 | $966 | $34,500 |
| Nonfarm, nonresidential loans - $100-250k | 23 | $2,773 | $120,565 |
| Nonfarm, nonresidential loans - $250k-1MM | 21 | $8,411 | $400,524 |
| Commercial & Industrial, US addressed loans - <$1MM | 284 | $19,115 | $67,306 |
| Commercial & Industrial, US addressed loans - <$100k | 222 | $6,482 | $29,198 |
| Commercial & Industrial, US addressed loans - $100-250k | 42 | $4,862 | $115,762 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 20 | $7,771 | $388,550 |
| Farmland loans - <$1MM | 36 | $4,009 | $111,361 |
| Farmland loans - <$100k | 18 | $667 | $37,056 |
| Farmland loans - $100-250k | 7 | $596 | $85,143 |
| Farmland loans - $250k-1MM | 11 | $2,746 | $249,636 |
| Agriculture operations loans - <$1MM | 139 | $7,057 | $50,770 |
| Agriculture operations loans - <$100k | 107 | $2,448 | $22,879 |
| Agriculture operations loans - $100-250k | 22 | $2,209 | $100,409 |
| Agriculture operations loans - $250k-1MM | 10 | $2,400 | $240,000 |