Flanagan State Bank Mortgage Rates, Fees & Info

Flanagan, IL

LEI: 2549008LUH7QKMXQ8N53

Tax ID: 37-0276830

4.8 stars - out of 5 stars, based on 49 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Bank Data

    Review & Overview

    Flanagan State Bank is a smaller bank specializing in Home Purchase and Refi loans. Flanagan State Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Chicago, Bloomington, Omaha, Durango, and Rock Springs among others. We have data for 158 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Flanagan State Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Flanagan State Bank is typically an average 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 7.15% 12/4/22
    30 Year Conventional Refi 6.86% 12/4/22
    30 Year Cash-out Refi 7.08% 12/4/22
    30 Year FHA Purchase 8.11% 12/4/22
    30 Year FHA Refi 7.62% 12/4/22
    30 Year VA Purchase 6.88% 12/4/22
    30 Year VA Refi 6.43% 12/4/22
    30 Year USDA Purchase 7.54% 12/4/22
    30 Year USDA Refi 7.27% 12/4/22
    15 Year Conventional Purchase 6.32% 12/4/22
    15 Year Conventional Refi 6.12% 12/4/22
    15 Year Cash-out Refi 6.12% 12/4/22
    15 Year FHA Purchase 8.64% 12/4/22
    15 Year FHA Refi 7.38% 12/4/22
    15 Year VA Purchase 6.51% 12/4/22
    15 Year VA Refi 6.15% 12/4/22
    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.


    Originations

    2,412

    Origination Dollar Volume (All Markets)

    $409,700,000

    Employee count

    183 Show all (15) awards

    Relative Rate

    Flanagan State Bank's average 30 year fixed mortgage rate was 3.23%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.08%.

    Relative Fees (Closing Costs)

    Flanagan State Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,675.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    Outside of Metro Areas 545 $79,225,000 $145,367 $4,924 3.21%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 236 $50,420,000 $213,644 $3,769 2.99%
    BLOOMINGTON, IL (FHA|USDA|VA) 197 $27,205,000 $138,096 $1,453 3.09%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 104 $20,610,000 $198,173 $2,994 3.20%
    Durango, CO (FHA|USDA|VA) 58 $17,210,000 $296,724 $3,966 3.06%
    Rock Springs, WY (FHA|USDA|VA) 57 $13,735,000 $240,965 $4,719 3.19%
    Poplar Bluff, MO (FHA|USDA|VA) 111 $13,725,000 $123,649 $5,931 3.11%
    Bozeman, MT (FHA|USDA|VA) 30 $12,730,000 $424,333 $4,164 3.23%
    KANKAKEE, IL (FHA|USDA|VA) 73 $12,465,000 $170,753 $3,921 2.99%
    PEORIA, IL (FHA|USDA|VA) 96 $12,160,000 $126,667 $2,558 3.21%
    Bedford, IN (FHA|USDA|VA) 83 $11,285,000 $135,964 $4,746 3.28%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 69 $9,835,000 $142,536 $4,036 3.25%
    GRAND JUNCTION, CO (FHA|USDA|VA) 31 $9,695,000 $312,742 $4,431 3.14%
    SIOUX FALLS, SD (FHA|USDA|VA) 36 $8,620,000 $239,444 $7,857 2.95%
    READING, PA (FHA|USDA|VA) 59 $7,425,000 $125,847 $6,370 3.45%
    Sikeston, MO (FHA|USDA|VA) 50 $6,260,000 $125,200 $6,669 3.13%
    ST. JOSEPH, MO-KS (FHA|USDA|VA) 38 $5,820,000 $153,158 $4,064 3.49%
    Pontiac, IL (FHA|USDA|VA) 33 $4,585,000 $138,939 $2,198 3.06%
    Montrose, CO (FHA|USDA|VA) 13 $4,185,000 $321,923 $3,744 3.23%
    Kennett, MO (FHA|USDA|VA) 32 $3,480,000 $108,750 $6,377 3.13%
    Maryville, MO (FHA|USDA|VA) 23 $3,185,000 $138,478 $3,722 3.48%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 15 $2,925,000 $195,000 $4,197 3.26%
    Storm Lake, IA (FHA|USDA|VA) 18 $2,910,000 $161,667 $6,251 3.13%
    Brookings, SD (FHA|USDA|VA) 14 $2,860,000 $204,286 $6,133 2.99%
    Spencer, IA (FHA|USDA|VA) 20 $2,860,000 $143,000 $5,058 2.95%
    Macomb, IL (FHA|USDA|VA) 24 $2,310,000 $96,250 $4,985 3.57%
    Helena, MT (FHA|USDA|VA) 10 $2,310,000 $231,000 $5,327 3.43%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 5 $2,065,000 $413,000 $2,797 3.15%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $1,800,000 $450,000 $7,483 2.88%
    Rochelle, IL (FHA|USDA|VA) 14 $1,790,000 $127,857 $4,378 3.21%
    SPRINGFIELD, MO (FHA|USDA|VA) 10 $1,760,000 $176,000 $3,230 3.29%
    FARMINGTON, NM (FHA|USDA|VA) 8 $1,490,000 $186,250 $3,470 2.95%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 12 $1,460,000 $121,667 $5,430 3.33%
    Natchez, MS-LA (FHA|USDA|VA) 12 $1,410,000 $117,500 $3,409 3.14%
    BLOOMINGTON, IN (FHA|USDA|VA) 7 $1,385,000 $197,857 $3,834 3.14%
    GREELEY, CO (FHA|USDA|VA) 3 $1,235,000 $411,667 $10,193 3.38%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 3 $1,185,000 $395,000 $3,714 2.88%
    Ottawa, IL (FHA|USDA|VA) 12 $1,170,000 $97,500 $3,210 3.29%
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 4 $1,070,000 $267,500 $4,946 3.13%
    JOPLIN, MO (FHA|USDA|VA) 7 $1,065,000 $152,143 $3,949 3.29%
    Muscatine, IA (FHA|USDA|VA) 8 $1,050,000 $131,250 $4,666 3.45%
    Dixon, IL (FHA|USDA|VA) 10 $1,000,000 $100,000 $4,140 3.43%
    Campbellsville, KY (FHA|USDA|VA) 7 $995,000 $142,143 $4,879 2.91%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $980,000 $245,000 $3,851 3.31%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 4 $900,000 $225,000 $9,361 3.16%
    Palestine, TX (FHA|USDA|VA) 5 $845,000 $169,000 $8,372 3.55%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 7 $825,000 $117,857 $2,069 3.43%
    Malvern, AR (FHA|USDA|VA) 7 $815,000 $116,429 $3,564 2.80%
    Butte-Silver Bow, MT (FHA|USDA|VA) 3 $805,000 $268,333 $2,995 3.25%
    Freeport, IL (FHA|USDA|VA) 9 $775,000 $86,111 $4,508 3.67%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $770,000 $385,000 $2,014 3.31%
    Evanston, WY (FHA|USDA|VA) 4 $770,000 $192,500 $3,611 2.94%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 3 $765,000 $255,000 $5,475 3.04%
    RAPID CITY, SD (FHA|USDA|VA) 3 $755,000 $251,667 $8,002 3.00%
    SALT LAKE CITY, UT (FHA|USDA|VA) 1 $755,000 $755,000 $3,935 3.75%
    Lincoln, IL (FHA|USDA|VA) 10 $740,000 $74,000 $3,491 3.38%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 4 $730,000 $182,500 $3,022 2.69%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $710,000 $355,000 $2,959 2.81%
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 6 $700,000 $116,667 $5,451 3.08%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 3 $695,000 $231,667 $4,647 3.13%
    BAKERSFIELD, CA (FHA|USDA|VA) 4 $680,000 $170,000 $3,593 3.59%
    Sterling, IL (FHA|USDA|VA) 6 $650,000 $108,333 $4,216 3.65%
    Glenwood Springs, CO (FHA|USDA|VA) 2 $580,000 $290,000 $6,322 3.44%
    MADISON, WI (FHA|USDA|VA) 3 $575,000 $191,667 $2,179 2.75%
    LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 2 $570,000 $285,000 $7,574 3.31%
    ROCKFORD, IL (FHA|USDA|VA) 4 $550,000 $137,500 $2,979 3.00%
    Cedar City, UT (FHA|USDA|VA) 2 $490,000 $245,000 $4,936 3.19%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $455,000 $455,000 $0 3.50%
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 2 $420,000 $210,000 $3,611 3.13%
    Findlay, OH (FHA|USDA|VA) 1 $405,000 $405,000 $1,549 3.63%
    Seymour, IN (FHA|USDA|VA) 3 $405,000 $135,000 $5,602 3.42%
    NILES, MI (FHA|USDA|VA) 1 $405,000 $405,000 $3,165 3.13%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $405,000 $405,000 $2,325 3.00%
    Sevierville, TN (FHA|USDA|VA) 1 $385,000 $385,000 $4,438 4.00%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $385,000 $385,000 $5,471 3.00%
    Yankton, SD (FHA|USDA|VA) 1 $375,000 $375,000 $6,720 3.13%
    Norfolk, NE (FHA|USDA|VA) 2 $360,000 $180,000 $5,578 2.88%
    Washington, IN (FHA|USDA|VA) 3 $355,000 $118,333 $2,313 3.25%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $355,000 $355,000 $3,991 3.13%
    Athens, TX (FHA|USDA|VA) 2 $350,000 $175,000 $4,517 3.38%
    Vermillion, SD (FHA|USDA|VA) 1 $345,000 $345,000 $12,099 2.88%
    Somerset, KY (FHA|USDA|VA) 1 $345,000 $345,000 $10,577 3.00%
    Galesburg, IL (FHA|USDA|VA) 4 $340,000 $85,000 $4,258 3.31%
    Huron, SD (FHA|USDA|VA) 2 $330,000 $165,000 $5,823 3.13%
    Aberdeen, SD (FHA|USDA|VA) 1 $325,000 $325,000 $13,867 3.13%
    Spirit Lake, IA (FHA|USDA|VA) 3 $325,000 $108,333 $5,562 2.96%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $315,000 $315,000 $7,708 3.13%
    Mitchell, SD (FHA|USDA|VA) 1 $315,000 $315,000 $13,278 2.88%
    LINCOLN, NE (FHA|USDA|VA) 1 $315,000 $315,000 $2,793 3.25%
    TERRE HAUTE, IN (FHA|USDA|VA) 2 $310,000 $155,000 $1,625 2.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $310,000 $155,000 $0 4.38%
    TULSA, OK (FHA|USDA|VA) 1 $305,000 $305,000 $6,040 3.13%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $305,000 $305,000 $3,543 3.25%
    Fort Dodge, IA (FHA|USDA|VA) 2 $300,000 $150,000 $7,471 3.13%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $295,000 $295,000 $8,758 3.13%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $295,000 $295,000 $3,292 3.00%
    HUNTSVILLE, AL (FHA|USDA|VA) 1 $285,000 $285,000 $7,131 3.38%
    FOND DU LAC, WI (FHA|USDA|VA) 1 $285,000 $285,000 $8,978 3.75%
    Riverton, WY (FHA|USDA|VA) 1 $275,000 $275,000 $9,822 3.13%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $265,000 $265,000 $1,772 3.13%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $265,000 $265,000 $1,544 2.63%
    COLUMBIA, SC (FHA|USDA|VA) 2 $260,000 $130,000 $1,573 2.75%
    WICHITA, KS (FHA|USDA|VA) 1 $255,000 $255,000 $3,045 3.50%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $255,000 $255,000 $7,354 3.13%
    Ruidoso, NM (FHA|USDA|VA) 1 $245,000 $245,000 $0 3.88%
    CASPER, WY (FHA|USDA|VA) 1 $215,000 $215,000 $5,410 3.13%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $215,000 $215,000 $10,410 3.63%
    Murray, KY (FHA|USDA|VA) 1 $215,000 $215,000 $2,516 3.13%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $215,000 $215,000 $6,820 3.50%
    ROCHESTER, MN (FHA|USDA|VA) 1 $215,000 $215,000 $5,276 2.63%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $215,000 $215,000 $416 2.25%
    LEWISTON, ID-WA (FHA|USDA|VA) 1 $205,000 $205,000 $4,455 2.50%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $205,000 $205,000 $1,903 2.88%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $2,865 2.88%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $205,000 $205,000 $2,463 2.88%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $205,000 $205,000 $2,648 2.38%
    SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $195,000 $195,000 $7,189 3.25%
    Glasgow, KY (FHA|USDA|VA) 1 $195,000 $195,000 $5,496 2.88%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $195,000 $195,000 $1,303 2.63%
    Sterling, CO (FHA|USDA|VA) 1 $195,000 $195,000 $5,371 3.63%
    Beaver Dam, WI (FHA|USDA|VA) 1 $195,000 $195,000 $2,390 3.50%
    Branson, MO (FHA|USDA|VA) 1 $185,000 $185,000 $3,279 3.38%
    BILLINGS, MT (FHA|USDA|VA) 1 $185,000 $185,000 $7,688 3.13%
    Plymouth, IN (FHA|USDA|VA) 1 $185,000 $185,000 $2,517 2.88%
    Watertown, SD (FHA|USDA|VA) 1 $185,000 $185,000 $5,404 2.50%
    COLUMBUS, IN (FHA|USDA|VA) 1 $185,000 $185,000 $2,025 3.25%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $185,000 $185,000 $1,400 2.63%
    LANCASTER, PA (FHA|USDA|VA) 1 $175,000 $175,000 $10,320 3.38%
    Fairmont, MN (FHA|USDA|VA) 1 $175,000 $175,000 $8,692 2.50%
    HOT SPRINGS, AR (FHA|USDA|VA) 1 $165,000 $165,000 $5,216 2.88%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $165,000 $165,000 $7,163 3.63%
    Jasper, IN (FHA|USDA|VA) 1 $165,000 $165,000 $6,008 2.88%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $165,000 $165,000 $0 4.00%
    Albert Lea, MN (FHA|USDA|VA) 2 $160,000 $80,000 $3,974 3.56%
    Clinton, IA (FHA|USDA|VA) 1 $155,000 $155,000 $2,278 2.25%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $155,000 $155,000 $5,074 3.75%
    McComb, MS (FHA|USDA|VA) 2 $150,000 $75,000 $3,920 2.75%
    YORK-HANOVER, PA (FHA|USDA|VA) 2 $130,000 $65,000 $6,530 3.44%
    Platteville, WI (FHA|USDA|VA) 1 $125,000 $125,000 $6,389 3.13%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $125,000 $125,000 $3,283 3.50%
    Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 1 $115,000 $115,000 $4,589 3.63%
    Quincy, IL-MO (FHA|USDA|VA) 1 $105,000 $105,000 $3,986 3.50%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $105,000 $105,000 $2,681 3.25%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $105,000 $105,000 $918 2.63%
    Mason City, IA (FHA|USDA|VA) 1 $95,000 $95,000 $5,328 2.50%
    Rexburg, ID (FHA|USDA|VA) 1 $95,000 $95,000 $3,717 2.75%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $95,000 $95,000 $4,198 3.00%
    Lebanon, MO (FHA|USDA|VA) 1 $95,000 $95,000 $3,080 3.25%
    Blytheville, AR (FHA|USDA|VA) 1 $85,000 $85,000 $4,941 2.88%
    Central City, KY (FHA|USDA|VA) 1 $75,000 $75,000 $2,761 3.50%
    Farmington, MO (FHA|USDA|VA) 1 $65,000 $65,000 $4,307 3.25%
    Burlington, IA-IL (FHA|USDA|VA) 1 $55,000 $55,000 $3,079 3.00%
    DANVILLE, IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.90%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $55,000 $55,000 $2,851 3.25%
    FLINT, MI (FHA|USDA|VA) 1 $45,000 $45,000 $25 2.75%
    Connersville, IN (FHA|USDA|VA) 1 $45,000 $45,000 $0 3.75%
    Houghton, MI (FHA|USDA|VA) 1 $45,000 $45,000 $2,028 3.13%
    Madison, IN (FHA|USDA|VA) 1 $35,000 $35,000 $2,538 2.63%
    Flanagan State Bank's top markets include Chicago, Bloomington, Omaha, Durango, and Rock Springs among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,312 $253,090,000 $192,904 $2,977 3.15%
    USDA 562 $65,590,000 $116,708 $5,379 3.18%
    FHA 418 $64,080,000 $153,301 $6,692 3.28%
    VA 120 $26,940,000 $224,500 $5,091 2.96%

    For 2021, Flanagan State Bank's most frequently originated type of loan was Conventional, with 1,312 originations. Their 2nd most popular type was USDA, with 562 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,516 $245,960,000 $162,243 $5,046 3.25%
    Refi 530 $99,650,000 $188,019 $2,939 2.89%
    Cash Out Refi 362 $63,840,000 $176,354 $3,322 3.21%
    Other 3 $245,000 $81,667 $1,530 4.52%
    Home Improvement 1 $5,000 $5,000 $0 5.50%

    For 2021, Flanagan State Bank's most frequently cited loan purpose was Home Purchase, with 1,516 originations. The 2nd most popular reason was Refi, with 530 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,004 $347,140,000 $173,224 $4,675 3.23%
    15 Year 254 $36,030,000 $141,850 $2,403 2.60%
    20 Year 69 $13,355,000 $193,551 $3,429 3.08%
    Other 55 $8,975,000 $163,182 $2,141 3.77%
    10 Year 17 $2,525,000 $148,529 $2,117 2.49%
    5 Year 8 $930,000 $116,250 $689 4.19%
    1 Year 5 $745,000 $149,000 $1,105 4.33%

    For 2021, Flanagan State Bank's most frequently cited loan duration was 30 Year, with 2,004 originations. The 2nd most popular length was 15 Year, with 254 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 794 $141,050,000 $177,645
    $<1k 673 $119,055,000 $176,902
    $2k-3k 354 $49,650,000 $140,254
    $3k-4k 268 $40,250,000 $150,187
    $5k+ 131 $30,445,000 $232,405
    $4k-5k 111 $19,395,000 $174,730

    Flanagan State Bank's average total fees were $4,675, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 794 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,289 $210,755,000 $163,503
    2.5-3% 840 $154,280,000 $183,667
    <2.5% 212 $34,670,000 $163,538
    4-5% 66 $9,740,000 $147,576
    5-6% 5 $255,000 $51,000

    During 2021, Flanagan State Bank's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 1,289 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,015 $144,955,000 $142,813 $4,412 3.13%
    $100,000 or less 683 $50,805,000 $74,385 $3,708 3.28%
    $200k-400k 618 $165,900,000 $268,447 $4,795 3.11%
    $400k-600k 89 $41,915,000 $470,955 $4,409 3.13%
    $600k-1MM 5 $3,495,000 $699,000 $6,560 3.15%
    $1MM+ 2 $2,630,000 $1,315,000 $11,448 4.13%

    2021 saw Flanagan State Bank place emphasis on $100k-200k loans with 1,015 originations, totaling $144,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 805 $86,765,000 $107,783 $4,517 3.21%
    $50k-75k 664 $105,130,000 $158,328 $4,493 3.21%
    $75k-100k 404 $80,560,000 $199,406 $4,296 3.12%
    $100k-150k 301 $71,705,000 $238,223 $4,089 3.10%
    $150k-250k 159 $46,275,000 $291,038 $3,720 3.07%
    $250k+ 32 $11,050,000 $345,313 $3,489 3.17%

    Flanagan State Bank lent most frequently to those with incomes in the $50k or less range, with 805 originations. The second most popular income band? $50k-75k, with 664 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 561 $84,615,000 $150,829 $3,871 3.12%
    30-36% 498 $81,960,000 $164,578 $4,318 3.17%
    <20% 196 $24,860,000 $126,837 $2,974 3.09%
    50-60% 128 $25,000,000 $195,313 $6,682 3.18%
    40% 102 $16,920,000 $165,882 $4,821 3.18%
    44% 90 $19,860,000 $220,667 $4,560 3.19%
    38% 89 $15,285,000 $171,742 $4,526 3.22%
    42% 79 $15,775,000 $199,684 $4,375 3.29%
    41% 79 $14,705,000 $186,139 $4,443 3.19%
    36% 78 $12,110,000 $155,256 $4,314 3.15%
    37% 75 $13,835,000 $184,467 $4,430 3.26%
    39% 74 $13,110,000 $177,162 $4,695 3.21%
    43% 69 $13,015,000 $188,623 $4,238 3.19%
    45% 69 $14,385,000 $208,478 $4,859 3.19%
    47% 52 $10,610,000 $204,038 $5,430 3.28%
    49% 47 $9,545,000 $203,085 $4,998 3.10%
    48% 45 $9,965,000 $221,444 $4,553 3.15%
    46% 37 $6,875,000 $185,811 $4,192 3.26%
    >60% 4 $660,000 $165,000 $3,495 4.00%

    Flanagan State Bank lent most frequently to those with DTI ratios of 20-30%, with 561 originations. The next most common DTI ratio? 30-36%, with 498 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,298 $391,810,000 $170,500 $4,299 3.17%
    Black 72 $11,210,000 $155,694 $5,345 3.15%
    Asian 15 $2,735,000 $182,333 $4,280 3.11%
    American Indian 9 $1,645,000 $182,778 $5,266 3.22%
    Not provided 11 $1,335,000 $121,364 $2,016 3.14%
    Native Hawaiian or Islander 4 $650,000 $162,500 $6,072 3.44%
    Filipino 1 $175,000 $175,000 $3,551 3.50%
    Not applicable 1 $75,000 $75,000 $0 4.65%
    Japanese 1 $65,000 $65,000 $4,739 4.00%

    Approval Rates

    Total approvals of all applications
    86.96%

    Flanagan State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.48%

    Flanagan State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,412 $409,700,000 $169,859

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,412 $409,700,000 $169,859

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 60 $7,610,000 $126,833 $2,445 2.90%
    40-60% 174 $30,730,000 $176,609 $2,580 2.99%
    60-80% 612 $118,310,000 $193,317 $3,087 3.13%
    80-100% 1,500 $241,170,000 $160,780 $5,012 3.22%
    Over 100% 36 $6,990,000 $194,167 $8,129 3.19%
    Under 20% 9 $485,000 $53,889 $1,860 3.79%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Flanagan State Bank 111 North Fayette Street El Paso, IL 61738 Full Service B&M $52,162
    Flanagan State Bank 2401 East Washington Street Bloomington, IL 61704 Full Service B&M $24,851
    Flanagan State Bank 301 West Falcon Highway Flanagan, IL 61740 Full Service B&M $65,541
    Flanagan State Bank 403 State Street Benson, IL 61516 Full Service B&M $21,957
    Flanagan State Bank 500 S Persimmon St Le Roy, IL 61752 Full Service B&M $30,665
    Flanagan State Bank 208 East Gridley Road Gridley, IL 61744 Full Service B&M $25,144

    For 2021, Flanagan State Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $7,121
    Net interest income $6,513
    Total noninterest income $25,904
    Gross Fiduciary activities income $97
    Service charges on deposit accounts $193
    Trading account gains and fees $0
    Additional Noninterest Income $25,614
    Pre-tax net operating income $4,684
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,359
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,359
    Minority interest net income $0
    Net income $4,359
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,359

    Flanagan State Bank's gross interest income from loans was $7,121,000.
    Flanagan State Bank's net interest income from loans was $6,513,000.
    Flanagan State Bank's fee based income from loans was $193,000.
    Flanagan State Bank's net income from loans was $4,359,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $608
    Provision for credit losses $240
    Total noninterest expense $27,493
    Salaries and employee benefits $17,792
    Premises and equipment expense $1,667
    Additional noninterest expense $8,034
    Applicable income taxes $325
    Net charge-offs $84
    Cash dividends $2,700

    Flanagan State Bank's interest expense for loans was $608,000.
    Flanagan State Bank's payroll and benefits expense were $17,792,000.
    Flanagan State Bank's property, plant and equipment expenses $1,667,000.

    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 2.0%
    Nonfarm, nonresidential loans 4.0%
    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 $233,824
    Deposits held in domestic offices $233,824
    Deposits by Individuals, partnerships, and corporations $217,854
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $15,970
    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 $99,183
    Demand deposits $99,183
    Nontransaction accounts $134,641
    Money market deposit accounts (MMDAs) $58,029
    Other savings deposits (excluding MMDAs) $33,201
    Total time deposits $43,411
    Total time and savings deposits $134,641
    Noninterest-bearing deposits $55,797
    Interest-bearing deposits $178,027
    Retail deposits $232,712
    IRAs and Keogh plan accounts $5,782
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $262,541
    Cash & Balances due from depository institutions $9,463
    Interest-bearing balances $2,073
    Total securities $120,925
    Federal funds sold & reverse repurchase $11,923
    Net loans and leases $107,760
    Loan and leases loss allowance $1,131
    Trading account assets $0
    Bank premises and fixed assets $7,156
    Other real estate owned $0
    Goodwill and other intangibles $1,830
    All other assets $3,484

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $262,541
    Total Liabilities $235,756
    Total deposits $233,824
    Interest-bearing deposits $178,027
    Deposits held in domestic offices $233,824
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,932

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $107,760
    Loan and leases loss allowance $1,131
    Total loans and leases (domestic) $108,891
    All real estate loans $70,587
    Real estate loans in domestic offices $70,587
    Construction and development loans $8,082
    Residential 1-4 family construction $5,036
    Other construction, all land development and other land $3,046
    Loans secured by nonfarm nonresidential properties $10,054
    Nonfarm nonresidential secured by owner-occupied properties $7,065
    Commercial real estate & other non-farm, non-residential $2,989
    Multifamily residential real estate $752
    1-4 family residential loans $32,256
    Farmland loans $19,443
    Loans held in foreign offices $0
    Farm loans $24,269
    Commercial and industrial loans $8,074
    To non-U.S. addressees $0
    Loans to individuals $4,330
    Credit card loans $123
    Related Plans $0
    Consumer Auto Loans $2,457
    Other loans to individuals $1,750
    All other loans & leases $1,634
    Loans to foreign governments and official institutions $0
    Other loans $947
    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 $409
    Non 1-4 family restructured loans & leases $172
    Total loans and leases (foreign) $0

    Flanagan State Bank had $107,760,000 of loans outstanding in 2021. $70,587,000 of loans were in real estate loans. $8,082,000 of loans were in development loans. $752,000 of loans were in multifamily mortgage loans. $32,256,000 of loans were in 1-4 family mortgage loans. $24,269,000 of loans were in farm loans. $123,000 of loans were in credit card loans. $2,457,000 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 48 $5,890 $122,708
    Nonfarm, nonresidential loans - <$100k 29 $1,314 $45,310
    Nonfarm, nonresidential loans - $100-250k 11 $1,644 $149,455
    Nonfarm, nonresidential loans - $250k-1MM 8 $2,932 $366,500
    Commercial & Industrial, US addressed loans - <$1MM 70 $6,701 $95,729
    Commercial & Industrial, US addressed loans - <$100k 45 $1,499 $33,311
    Commercial & Industrial, US addressed loans - $100-250k 17 $1,971 $115,941
    Commercial & Industrial, US addressed loans - $250k-1MM 8 $3,231 $403,875
    Farmland loans - <$1MM 90 $9,578 $106,422
    Farmland loans - <$100k 11 $393 $35,727
    Farmland loans - $100-250k 53 $4,221 $79,642
    Farmland loans - $250k-1MM 26 $4,964 $190,923
    Agriculture operations loans - <$1MM 114 $10,256 $89,965
    Agriculture operations loans - <$100k 56 $1,459 $26,054
    Agriculture operations loans - $100-250k 25 $2,573 $102,920
    Agriculture operations loans - $250k-1MM 33 $6,224 $188,606