Flanagan State Bank Mortgage Rates, Fees & Info

Flanagan, IL

LEI: 2549008LUH7QKMXQ8N53

Tax ID: 37-0276830

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

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    • 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, Durango, Bedford, and Sioux Falls among others. We have data for 153 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 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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.88% 12/17/24
    30 Year Conventional Refi 6.58% 12/17/24
    30 Year Cash-out Refi 6.78% 12/17/24
    30 Year FHA Purchase 7.65% 12/17/24
    30 Year FHA Refi 7.27% 12/17/24
    30 Year VA Purchase 6.42% 12/17/24
    30 Year VA Refi 6.27% 12/17/24
    30 Year USDA Purchase 7.09% 12/17/24
    30 Year USDA Refi 6.09% 12/17/24
    15 Year Conventional Purchase 6.30% 12/17/24
    15 Year Conventional Refi 6.16% 12/17/24
    15 Year Cash-out Refi 6.16% 12/17/24
    15 Year FHA Purchase 7.27% 12/17/24
    15 Year FHA Refi 8.21% 12/17/24
    15 Year VA Purchase 6.78% 12/17/24
    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.

    Flanagan State Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Flanagan 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

    2,041

    Origination Dollar Volume (All Markets)

    $307,635,000

    Employee count

    161 Show all (14) 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
    Outside of Metro Areas 416 $55,230,000 $132,764 $4,692 4.50%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 151 $32,595,000 $215,861 $4,463 4.32%
    BLOOMINGTON, IL (FHA|USDA|VA) 155 $22,315,000 $143,968 $1,251 4.43%
    Durango, CO (FHA|USDA|VA) 51 $14,595,000 $286,176 $4,143 4.07%
    Bedford, IN (FHA|USDA|VA) 114 $13,750,000 $120,614 $4,326 4.59%
    SIOUX FALLS, SD (FHA|USDA|VA) 61 $12,785,000 $209,590 $5,760 4.13%
    Poplar Bluff, MO (FHA|USDA|VA) 104 $11,070,000 $106,442 $4,940 4.54%
    PEORIA, IL (FHA|USDA|VA) 86 $9,900,000 $115,116 $2,456 4.56%
    Rock Springs, WY (FHA|USDA|VA) 45 $9,875,000 $219,444 $4,585 4.44%
    KANKAKEE, IL (FHA|USDA|VA) 50 $8,050,000 $161,000 $4,425 4.50%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 65 $7,285,000 $112,077 $3,782 4.73%
    Sikeston, MO (FHA|USDA|VA) 50 $5,980,000 $119,600 $5,914 4.21%
    Bozeman, MT (FHA|USDA|VA) 20 $5,440,000 $272,000 $2,602 3.92%
    JOPLIN, MO (FHA|USDA|VA) 35 $5,325,000 $152,143 $4,377 4.45%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 29 $5,275,000 $181,897 $5,384 4.75%
    READING, PA (FHA|USDA|VA) 44 $4,090,000 $92,955 $6,575 4.82%
    ST. JOSEPH, MO-KS (FHA|USDA|VA) 31 $3,955,000 $127,581 $4,281 4.65%
    GRAND JUNCTION, CO (FHA|USDA|VA) 12 $3,550,000 $295,833 $4,031 4.55%
    Maryville, MO (FHA|USDA|VA) 25 $2,845,000 $113,800 $3,757 4.53%
    Kennett, MO (FHA|USDA|VA) 32 $2,630,000 $82,188 $4,773 4.56%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 9 $2,375,000 $263,889 $2,117 4.22%
    Platteville, WI (FHA|USDA|VA) 16 $2,360,000 $147,500 $3,683 4.36%
    SPRINGFIELD, IL (FHA|USDA|VA) 16 $2,080,000 $130,000 $3,736 4.30%
    Lincoln, IL (FHA|USDA|VA) 22 $1,940,000 $88,182 $3,618 5.01%
    SPRINGFIELD, MO (FHA|USDA|VA) 11 $1,885,000 $171,364 $3,307 3.90%
    Spencer, IA (FHA|USDA|VA) 13 $1,885,000 $145,000 $4,951 4.50%
    Macomb, IL (FHA|USDA|VA) 20 $1,860,000 $93,000 $3,974 4.73%
    Pontiac, IL (FHA|USDA|VA) 16 $1,710,000 $106,875 $1,698 5.10%
    Freeport, IL (FHA|USDA|VA) 18 $1,650,000 $91,667 $4,034 4.75%
    MADISON, WI (FHA|USDA|VA) 7 $1,545,000 $220,714 $3,100 3.93%
    Muscatine, IA (FHA|USDA|VA) 13 $1,535,000 $118,077 $3,846 4.88%
    Montrose, CO (FHA|USDA|VA) 4 $1,470,000 $367,500 $3,737 4.03%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 5 $1,455,000 $291,000 $5,612 4.23%
    Malvern, AR (FHA|USDA|VA) 14 $1,440,000 $102,857 $3,912 4.38%
    BLOOMINGTON, IN (FHA|USDA|VA) 7 $1,425,000 $203,571 $6,163 4.61%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 7 $1,425,000 $203,571 $3,374 4.30%
    Palestine, TX (FHA|USDA|VA) 12 $1,410,000 $117,500 $4,641 4.59%
    Evanston, WY (FHA|USDA|VA) 6 $1,370,000 $228,333 $5,400 4.40%
    Brookings, SD (FHA|USDA|VA) 7 $1,365,000 $195,000 $4,585 4.21%
    FARMINGTON, NM (FHA|USDA|VA) 5 $1,295,000 $259,000 $5,340 3.73%
    Rochelle, IL (FHA|USDA|VA) 9 $1,275,000 $141,667 $4,008 4.32%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 8 $1,260,000 $157,500 $2,958 4.84%
    Butte-Silver Bow, MT (FHA|USDA|VA) 7 $1,245,000 $177,857 $5,441 4.45%
    EL PASO, TX (FHA|USDA|VA) 9 $1,225,000 $136,111 $4,683 4.22%
    JEFFERSON CITY, MO (FHA|USDA|VA) 7 $1,205,000 $172,143 $8,215 3.59%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 5 $1,075,000 $215,000 $2,234 3.98%
    Campbellsville, KY (FHA|USDA|VA) 7 $955,000 $136,429 $4,180 4.57%
    Storm Lake, IA (FHA|USDA|VA) 10 $930,000 $93,000 $4,591 4.85%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 4 $870,000 $217,500 $5,652 4.56%
    RAPID CITY, SD (FHA|USDA|VA) 4 $870,000 $217,500 $9,229 3.91%
    Taylorville, IL (FHA|USDA|VA) 11 $845,000 $76,818 $3,877 4.72%
    Baraboo, WI (FHA|USDA|VA) 5 $825,000 $165,000 $4,484 3.75%
    BOISE CITY, ID (FHA|USDA|VA) 2 $720,000 $360,000 $7,704 3.44%
    Huron, SD (FHA|USDA|VA) 6 $690,000 $115,000 $5,499 4.48%
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 5 $665,000 $133,000 $4,531 3.85%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $660,000 $330,000 $7,112 4.19%
    Yankton, SD (FHA|USDA|VA) 4 $660,000 $165,000 $5,642 4.63%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 3 $625,000 $208,333 $5,660 4.54%
    LOUISVILLE, KY (FHA|USDA|VA) 2 $590,000 $295,000 $1,973 4.19%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 5 $585,000 $117,000 $6,502 4.68%
    Mason City, IA (FHA|USDA|VA) 6 $580,000 $96,667 $5,121 4.77%
    Dixon, IL (FHA|USDA|VA) 4 $510,000 $127,500 $3,886 3.59%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $485,000 $485,000 $4,471 3.75%
    Ottawa, IL (FHA|USDA|VA) 4 $480,000 $120,000 $2,720 4.50%
    BILLINGS, MT (FHA|USDA|VA) 2 $470,000 $235,000 $7,594 4.81%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $450,000 $225,000 $3,307 4.00%
    ROCKFORD, IL (FHA|USDA|VA) 3 $445,000 $148,333 $5,322 5.08%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $430,000 $215,000 $5,299 5.06%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $400,000 $200,000 $4,736 4.44%
    CASPER, WY (FHA|USDA|VA) 1 $395,000 $395,000 $85 4.50%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 3 $385,000 $128,333 $4,540 3.92%
    Sheridan, WY (FHA|USDA|VA) 2 $380,000 $190,000 $2,685 3.88%
    SALINAS, CA (FHA|USDA|VA) 1 $365,000 $365,000 $9,832 4.00%
    COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $365,000 $365,000 $2,771 4.25%
    Uvalde, TX (FHA|USDA|VA) 1 $355,000 $355,000 $5,137 4.63%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $355,000 $355,000 $8,679 4.13%
    Worthington, MN (FHA|USDA|VA) 2 $340,000 $170,000 $11,742 4.38%
    IOWA CITY, IA (FHA|USDA|VA) 2 $330,000 $165,000 $3,601 4.81%
    JACKSONVILLE, NC (FHA|USDA|VA) 2 $330,000 $165,000 $2,179 4.81%
    Beaver Dam, WI (FHA|USDA|VA) 1 $315,000 $315,000 $878 4.00%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 2 $310,000 $155,000 $2,327 3.81%
    Watertown, SD (FHA|USDA|VA) 1 $285,000 $285,000 $7,428 4.38%
    Spirit Lake, IA (FHA|USDA|VA) 1 $285,000 $285,000 $3,739 3.63%
    TULSA, OK (FHA|USDA|VA) 1 $285,000 $285,000 $3,583 4.75%
    POCATELLO, ID (FHA|USDA|VA) 2 $280,000 $140,000 $1,974 4.69%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $255,000 $255,000 $6,243 4.00%
    Athens, TX (FHA|USDA|VA) 1 $255,000 $255,000 $2,982 4.00%
    HUNTSVILLE, AL (FHA|USDA|VA) 1 $255,000 $255,000 $7,858 4.13%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $255,000 $255,000 $10,279 3.38%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $245,000 $245,000 $10,386 4.63%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $235,000 $235,000 $7,573 4.13%
    Boone, NC (FHA|USDA|VA) 1 $235,000 $235,000 $7,264 3.50%
    Stephenville, TX (FHA|USDA|VA) 1 $225,000 $225,000 $3,295 4.25%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $225,000 $225,000 $2,562 3.75%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $215,000 $215,000 $3,020 4.63%
    LEWISTON, ID-WA (FHA|USDA|VA) 1 $215,000 $215,000 $420 3.25%
    Williston, ND (FHA|USDA|VA) 1 $215,000 $215,000 $5,547 4.50%
    Crawfordsville, IN (FHA|USDA|VA) 1 $205,000 $205,000 $4,657 4.25%
    Lufkin, TX (FHA|USDA|VA) 1 $205,000 $205,000 $7,482 4.63%
    Helena, MT (FHA|USDA|VA) 1 $205,000 $205,000 $5,199 4.00%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $195,000 $195,000 $3,106 4.25%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $195,000 $195,000 $5,636 3.63%
    Carroll, IA (FHA|USDA|VA) 1 $195,000 $195,000 $9,361 3.63%
    Moberly, MO (FHA|USDA|VA) 1 $195,000 $195,000 $5,555 4.63%
    DECATUR, IL (FHA|USDA|VA) 1 $195,000 $195,000 $3,305 3.63%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $195,000 $195,000 $4,986 3.38%
    Galesburg, IL (FHA|USDA|VA) 2 $190,000 $95,000 $6,040 4.50%
    FARGO, ND-MN (FHA|USDA|VA) 1 $185,000 $185,000 $379 4.38%
    Plymouth, IN (FHA|USDA|VA) 1 $185,000 $185,000 $2,428 4.63%
    Sedalia, MO (FHA|USDA|VA) 1 $175,000 $175,000 $1,823 4.38%
    COLUMBIA, MO (FHA|USDA|VA) 1 $175,000 $175,000 $5,909 4.13%
    CEDAR RAPIDS, IA (FHA|USDA|VA) 2 $170,000 $85,000 $3,815 5.06%
    Spearfish, SD (FHA|USDA|VA) 1 $165,000 $165,000 $3,705 4.88%
    DUBUQUE, IA (FHA|USDA|VA) 1 $165,000 $165,000 $1,738 4.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $155,000 $155,000 $4,619 5.00%
    ELIZABETHTOWN-FORT KNOX, KY (FHA|USDA|VA) 1 $155,000 $155,000 $4,117 3.50%
    Mitchell, SD (FHA|USDA|VA) 1 $145,000 $145,000 $10,176 3.50%
    LONGVIEW, TX (FHA|USDA|VA) 1 $145,000 $145,000 $7,161 5.13%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $145,000 $145,000 $7,516 4.50%
    Klamath Falls, OR (FHA|USDA|VA) 1 $145,000 $145,000 $7,765 4.25%
    Jacksonville, TX (FHA|USDA|VA) 1 $145,000 $145,000 $7,603 5.63%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $145,000 $145,000 $5,194 4.63%
    Gillette, WY (FHA|USDA|VA) 1 $145,000 $145,000 $2,747 4.88%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,727 3.63%
    Bardstown, KY (FHA|USDA|VA) 1 $145,000 $145,000 $6,456 4.50%
    Salem, OH (FHA|USDA|VA) 1 $135,000 $135,000 $4,986 4.13%
    HOT SPRINGS, AR (FHA|USDA|VA) 1 $135,000 $135,000 $3,967 3.50%
    Arkadelphia, AR (FHA|USDA|VA) 1 $135,000 $135,000 $4,222 3.13%
    Jasper, IN (FHA|USDA|VA) 1 $125,000 $125,000 $4,467 4.88%
    BATON ROUGE, LA (FHA|USDA|VA) 1 $125,000 $125,000 $5,023 4.63%
    AMES, IA (FHA|USDA|VA) 1 $125,000 $125,000 $4,228 4.13%
    Burlington, IA-IL (FHA|USDA|VA) 2 $120,000 $60,000 $4,903 4.88%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $115,000 $115,000 $3,423 5.13%
    West Plains, MO (FHA|USDA|VA) 1 $115,000 $115,000 $3,536 4.00%
    Seymour, IN (FHA|USDA|VA) 1 $105,000 $105,000 $4,320 5.63%
    Natchez, MS-LA (FHA|USDA|VA) 2 $100,000 $50,000 $5,490 4.44%
    Pierre, SD (FHA|USDA|VA) 1 $95,000 $95,000 $3,795 4.13%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    Paris, TN (FHA|USDA|VA) 1 $85,000 $85,000 $115 5.63%
    Pittsburg, KS (FHA|USDA|VA) 1 $85,000 $85,000 $3,018 4.38%
    Blackfoot, ID (FHA|USDA|VA) 1 $85,000 $85,000 $2,604 4.75%
    Marshall, MN (FHA|USDA|VA) 1 $85,000 $85,000 $5,518 4.63%
    Farmington, MO (FHA|USDA|VA) 1 $75,000 $75,000 $4,195 5.13%
    Sterling, IL (FHA|USDA|VA) 1 $75,000 $75,000 $2,575 4.63%
    McComb, MS (FHA|USDA|VA) 1 $75,000 $75,000 $3,110 4.63%
    Fairmont, MN (FHA|USDA|VA) 1 $75,000 $75,000 $5,440 4.50%
    Washington, IN (FHA|USDA|VA) 1 $65,000 $65,000 $3,560 5.25%
    Blytheville, AR (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.88%
    CLARKSVILLE, TN-KY (FHA|USDA|VA) 1 $65,000 $65,000 $4,241 5.00%
    TERRE HAUTE, IN (FHA|USDA|VA) 1 $65,000 $65,000 $3,313 5.13%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $65,000 $65,000 $3,095 4.75%
    Albert Lea, MN (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.25%
    New Castle, IN (FHA|USDA|VA) 1 $55,000 $55,000 $4,221 5.63%
    Flanagan State Bank's top markets include Chicago, Bloomington, Durango, Bedford, and Sioux Falls among others.

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

    • Similar Lenders

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 913 $163,065,000 $178,604 $2,860 4.33%
    USDA 506 $54,230,000 $107,174 $4,856 4.43%
    FHA 478 $62,740,000 $131,255 $6,218 4.78%
    VA 144 $27,600,000 $191,667 $4,189 4.44%

    For 2019, Flanagan State Bank's most frequently originated type of loan was Conventional, with 913 originations. Their 2nd most popular type was USDA, with 506 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,487 $203,005,000 $136,520 $4,611 4.55%
    Refi 331 $67,615,000 $204,275 $2,987 4.06%
    Cash Out Refi 223 $37,015,000 $165,987 $3,951 4.47%

    For 2019, Flanagan State Bank's most frequently cited loan purpose was Home Purchase, with 1,487 originations. The 2nd most popular reason was Refi, with 331 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,834 $277,140,000 $151,112 $4,437 4.47%
    15 Year 114 $17,410,000 $152,719 $2,887 3.82%
    Other 47 $6,175,000 $131,383 $1,542 5.64%
    20 Year 29 $5,505,000 $189,828 $3,614 4.09%
    1 Year 9 $755,000 $83,889 $1,008 6.11%
    10 Year 4 $410,000 $102,500 $2,742 3.50%
    5 Year 4 $240,000 $60,000 $632 6.19%

    For 2019, Flanagan State Bank's most frequently cited loan duration was 30 Year, with 1,834 originations. The 2nd most popular length was 15 Year, with 114 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 694 $105,720,000 $152,334
    $<1k 537 $88,125,000 $164,106
    $2k-3k 415 $53,675,000 $129,337
    $3k-4k 186 $25,210,000 $135,538
    $4k-5k 84 $13,930,000 $165,833
    $5k+ 67 $14,415,000 $215,149

    Flanagan State Bank's average total fees were $4,437, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 694 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 1,040 $149,880,000 $144,115
    3-4% 597 $110,545,000 $185,168
    5-6% 373 $44,245,000 $118,619
    6-7% 18 $1,460,000 $81,111
    2.5-3% 8 $1,260,000 $157,500
    Over 8% 2 $90,000 $45,000
    7-8% 1 $25,000 $25,000

    During 2019, Flanagan State Bank's average interest rate for loans was 4.47%, while their most frequently originated rate bucket for loans was 4-5%, with 1,040 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 855 $122,365,000 $143,117 $4,434 4.40%
    $100,000 or less 709 $51,015,000 $71,953 $3,851 4.70%
    $200k-400k 437 $116,215,000 $265,938 $4,582 4.24%
    $400k-600k 39 $17,325,000 $444,231 $4,401 4.24%
    $600k-1MM 1 $715,000 $715,000 $15,368 3.88%

    2019 saw Flanagan State Bank place emphasis on $100k-200k loans with 855 originations, totaling $122,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 761 $72,775,000 $95,631 $4,304 4.54%
    $50k-75k 580 $84,910,000 $146,397 $4,443 4.47%
    $75k-100k 313 $57,855,000 $184,840 $4,319 4.40%
    $100k-150k 245 $55,205,000 $225,327 $4,090 4.37%
    $150k-250k 80 $20,280,000 $253,500 $3,673 4.32%
    $250k+ 27 $8,785,000 $325,370 $3,941 4.51%

    Flanagan State Bank lent most frequently to those with incomes in the $50k or less range, with 761 originations. The second most popular income band? $50k-75k, with 580 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 446 $62,500,000 $140,135 $3,772 4.41%
    30-36% 421 $62,505,000 $148,468 $4,217 4.46%
    <20% 124 $14,750,000 $118,952 $3,127 4.33%
    50-60% 111 $17,035,000 $153,468 $6,278 4.63%
    40% 102 $14,150,000 $138,725 $4,342 4.47%
    38% 90 $12,860,000 $142,889 $4,470 4.59%
    37% 88 $13,350,000 $151,705 $4,427 4.48%
    39% 81 $11,905,000 $146,975 $4,469 4.56%
    36% 78 $10,310,000 $132,179 $4,844 4.51%
    42% 69 $10,645,000 $154,275 $4,129 4.45%
    45% 61 $10,305,000 $168,934 $4,259 4.36%
    41% 60 $11,090,000 $184,833 $4,282 4.56%
    43% 57 $10,495,000 $184,123 $4,295 4.52%
    44% 56 $9,960,000 $177,857 $4,229 4.42%
    49% 50 $8,720,000 $174,400 $4,409 4.44%
    48% 45 $7,545,000 $167,667 $4,441 4.53%
    46% 43 $7,615,000 $177,093 $5,143 4.44%
    47% 33 $5,475,000 $165,909 $5,329 4.62%
    >60% 1 $425,000 $425,000 $17,499 5.63%

    Flanagan State Bank lent most frequently to those with DTI ratios of 20-30%, with 446 originations. The next most common DTI ratio? 30-36%, with 421 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,908 $288,220,000 $151,059 $4,246 4.46%
    Black 68 $8,850,000 $130,147 $5,399 4.53%
    Not provided 42 $6,540,000 $155,714 $3,902 4.33%
    Asian 10 $1,760,000 $176,000 $3,944 4.74%
    Not applicable 4 $830,000 $207,500 $0 5.88%
    American Indian 5 $715,000 $143,000 $4,076 4.08%
    Other Asian 1 $325,000 $325,000 $0 6.25%
    Native Hawaiian or Islander 2 $310,000 $155,000 $4,565 4.56%
    Asian Indian 1 $85,000 $85,000 $1,079 4.25%

    Approval Rates

    Total approvals of all applications
    86.27%

    Flanagan State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.55%

    Flanagan State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,041 $307,635,000 $150,728

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $1,520,000 $380,000
    Single Family (1-4 Units):Manufactured 58 $7,490,000 $129,138
    Single Family (1-4 Units):Site-Built 1,979 $298,625,000 $150,897

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 32 $2,730,000 $85,313 $1,758 4.89%
    40-60% 75 $12,345,000 $164,600 $2,546 4.20%
    60-80% 373 $69,625,000 $186,662 $3,286 4.28%
    80-100% 1,514 $214,830,000 $141,896 $4,603 4.51%
    Over 100% 40 $7,810,000 $195,250 $5,943 4.59%
    Under 20% 6 $210,000 $35,000 $1,045 6.02%

    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 $35,159
    Flanagan State Bank 208 East Gridley Road Gridley, IL 61744 Full Service B&M $12,792
    Flanagan State Bank 2401 East Washington Street Bloomington, IL 61704 Full Service B&M $22,065
    Flanagan State Bank 301 West Falcon Highway Flanagan, IL 61740 Full Service B&M $49,955
    Flanagan State Bank 403 State Street Benson, IL 61516 Full Service B&M $17,180
    Flanagan State Bank 500 S Persimmon St Le Roy, IL 61752 Full Service B&M $23,187

    For 2019, Flanagan State Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $7,224
    Net interest income $6,066
    Total noninterest income $19,100
    Gross Fiduciary activities income $67
    Service charges on deposit accounts $265
    Trading account gains and fees $0
    Additional Noninterest Income $18,768
    Pre-tax net operating income $3,213
    Securities gains (or losses, -) $-45
    Income before extraordinary items $3,149
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,149
    Minority interest net income $0
    Net income $3,149
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,193

    Flanagan State Bank's gross interest income from loans was $7,224,000.
    Flanagan State Bank's net interest income from loans was $6,066,000.
    Flanagan State Bank's fee based income from loans was $265,000.
    Flanagan State Bank's net income from loans was $3,149,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,158
    Provision for credit losses $395
    Total noninterest expense $21,558
    Salaries and employee benefits $13,724
    Premises and equipment expense $1,616
    Additional noninterest expense $6,218
    Applicable income taxes $19
    Net charge-offs $613
    Cash dividends $1,600

    Flanagan State Bank's interest expense for loans was $1,158,000.
    Flanagan State Bank's payroll and benefits expense were $13,724,000.
    Flanagan State Bank's property, plant and equipment expenses $1,616,000.

    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 8.0%
    Nonfarm, nonresidential loans 5.0%
    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 $168,303
    Deposits held in domestic offices $168,303
    Deposits by Individuals, partnerships, and corporations $155,320
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $12,983
    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 $61,941
    Demand deposits $61,927
    Nontransaction accounts $106,362
    Money market deposit accounts (MMDAs) $32,818
    Other savings deposits (excluding MMDAs) $19,701
    Total time deposits $53,843
    Total time and savings deposits $106,376
    Noninterest-bearing deposits $32,226
    Interest-bearing deposits $136,077
    Retail deposits $165,330
    IRAs and Keogh plan accounts $5,325
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $191,043
    Cash & Balances due from depository institutions $8,260
    Interest-bearing balances $2,051
    Total securities $43,654
    Federal funds sold & reverse repurchase $1,886
    Net loans and leases $124,208
    Loan and leases loss allowance $551
    Trading account assets $0
    Bank premises and fixed assets $7,467
    Other real estate owned $160
    Goodwill and other intangibles $1,629
    All other assets $3,779

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $191,043
    Total Liabilities $170,678
    Total deposits $168,303
    Interest-bearing deposits $136,077
    Deposits held in domestic offices $168,303
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,375

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $124,208
    Loan and leases loss allowance $551
    Total loans and leases (domestic) $124,759
    All real estate loans $85,691
    Real estate loans in domestic offices $85,691
    Construction and development loans $6,445
    Residential 1-4 family construction $1,358
    Other construction, all land development and other land $5,087
    Loans secured by nonfarm nonresidential properties $9,058
    Nonfarm nonresidential secured by owner-occupied properties $6,392
    Commercial real estate & other non-farm, non-residential $2,666
    Multifamily residential real estate $2,324
    1-4 family residential loans $48,229
    Farmland loans $19,635
    Loans held in foreign offices $0
    Farm loans $24,473
    Commercial and industrial loans $8,669
    To non-U.S. addressees $0
    Loans to individuals $4,396
    Credit card loans $30
    Related Plans $0
    Consumer Auto Loans $2,067
    Other loans to individuals $2,299
    All other loans & leases $1,530
    Loans to foreign governments and official institutions $0
    Other loans $835
    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 $263
    Non 1-4 family restructured loans & leases $92
    Total loans and leases (foreign) $0

    Flanagan State Bank had $124,208,000 of loans outstanding in 2019. $85,691,000 of loans were in real estate loans. $6,445,000 of loans were in development loans. $2,324,000 of loans were in multifamily mortgage loans. $48,229,000 of loans were in 1-4 family mortgage loans. $24,473,000 of loans were in farm loans. $30,000 of loans were in credit card loans. $2,067,000 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 56 $6,209 $110,875
    Nonfarm, nonresidential loans - <$100k 37 $1,708 $46,162
    Nonfarm, nonresidential loans - $100-250k 11 $1,621 $147,364
    Nonfarm, nonresidential loans - $250k-1MM 8 $2,880 $360,000
    Commercial & Industrial, US addressed loans - <$1MM 62 $5,803 $93,597
    Commercial & Industrial, US addressed loans - <$100k 41 $1,340 $32,683
    Commercial & Industrial, US addressed loans - $100-250k 11 $1,238 $112,545
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $3,225 $322,500
    Farmland loans - <$1MM 95 $12,295 $129,421
    Farmland loans - <$100k 14 $465 $33,214
    Farmland loans - $100-250k 56 $5,254 $93,821
    Farmland loans - $250k-1MM 25 $6,576 $263,040
    Agriculture operations loans - <$1MM 127 $13,120 $103,307
    Agriculture operations loans - <$100k 61 $1,736 $28,459
    Agriculture operations loans - $100-250k 38 $4,754 $125,105
    Agriculture operations loans - $250k-1MM 28 $6,630 $236,786