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

2021 Data | 2020 Data | 2019 Data | 2018 Data


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 include Chicago, Bloomington, Omaha, Durango, and Rock Springs among others. Flanagan State Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Flanagan State Bank is typically an average fee lendor.


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 rate mortgage of loans were 3.23%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.08%.

Relative Fees

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

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

Top Markets

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.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average 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 the 2021 period, Flanagan State Bank's most frequently originated loan type of loans were Conventional, with 1,312 originations. Their 2nd most popular type is USDA, with 562 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average 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 the 2021, Flanagan State Bank's most frequently cited loan purpose of loans were Home Purchase, with 1,516 originations. The 2nd most popular reason of loans were 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 the 2021, Flanagan State Bank's most frequently cited loan length of loans were 30 Year, with 2,004 originations. The 2nd most popular length of loans were 15 Year, with 254 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 794 $141,050,000 $177,645
$<1k 673 $119,055,000 $176,902
$3k-4k 379 $59,645,000 $157,375
$2k-3k 354 $49,650,000 $140,254
$5k+ 131 $30,445,000 $232,405

$4,675 of loans were Flanagan State Bank's average total fees, while their most frequently occuring range of origination fees 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 of loans were 3.23%, while their most frequently originated rate bucket of loans were 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 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
86.95%

Flanagan State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
73.19%

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 2401 East Washington Street Bloomington, IL 61704 Full Service B&M $24,851
Flanagan State Bank 111 North Fayette Street El Paso, IL 61738 Full Service B&M $52,162
Flanagan State Bank 208 East Gridley Road Gridley, IL 61744 Full Service B&M $25,144
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

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