Byron Bank Mortgage Rates, Fees & Info
Byron, ILLEI: 254900KE9OJJUH139Q12
Tax ID: 36-1694689
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Mortgage Data
Bank Data
Review & Overview
Byron Bank is a smaller bank specializing in Home Purchase loans. Byron Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Rockford, Rochelle, Chicago, Dixon, and Freeport among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Byron 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.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 7.06% | 4/21/24 |
| 30 Year Conventional Refi | 6.39% | 4/21/24 |
| 30 Year Cash-out Refi | 6.83% | 4/21/24 |
| 15 Year Conventional Purchase | 6.43% | 4/21/24 |
| 15 Year Conventional Refi | 5.86% | 4/21/24 |
| 15 Year Cash-out Refi | 5.86% | 4/21/24 |
| 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. | ||
Byron Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
232Origination Dollar Volume (All Markets)
$29,760,000Employee count
65Top 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 |
|---|---|---|---|---|---|
| ROCKFORD, IL (FHA|USDA|VA) | 107 | $14,095,000 | $131,729 | $0 | 0.00% |
| Rochelle, IL (FHA|USDA|VA) | 97 | $11,145,000 | $114,897 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 7 | $1,015,000 | $145,000 | $0 | 0.00% |
| Dixon, IL (FHA|USDA|VA) | 6 | $930,000 | $155,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $625,000 | $208,333 | $0 | 0.00% |
| Freeport, IL (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $0 | 0.00% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 3 | $505,000 | $168,333 | $0 | 0.00% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| PEORIA, IL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| SEBRING-AVON PARK, FL (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Byron 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 | 231 | $29,635,000 | $128,290 | $0 | 0.00% |
| USDA | 1 | $125,000 | $125,000 | $0 | 0.00% |
For 2018, Byron Bank's most frequently originated type of loan was Conventional, with 231 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2018, Byron Bank's most frequently cited loan purpose was Home Purchase, with 141 originations. The 2nd most popular reason was Refi, with 37 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 232 | $29,760,000 | $128,276 | $0 | 0.00% |
For 2018, Byron Bank's most frequently cited loan duration was Other, with 232 originations.
Loan Sizing
2018 saw Byron Bank place emphasis on $100k-200k loans with 101 originations, totaling $14,325,000 in origination value.
Applicant Income
Byron Bank lent most frequently to those with incomes in the $100k-150k range, with 57 originations. The second most popular income band? $50k or less, with 45 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 232 | $29,760,000 | $128,276 | $0 | 0.00% |
Byron Bank lent most frequently to those with DTI ratios of Exempt%, with 232 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.30%
Byron Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.48%
Byron Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 232 | $29,760,000 | $128,276 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 4 | $990,000 | $247,500 |
| Single Family (1-4 Units):Site-Built | 228 | $28,770,000 | $126,184 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Byron Bank | 11159 Highway 76 Poplar Grove, IL 61065 | Full Service B&M | $41,833 |
| Byron Bank | 200 North Walnut Byron, IL 61010 | Full Service B&M | $148,920 |
| Byron Bank | 201 West Blackhawk Street Byron, IL 61010 | Full Service Retail | $26,206 |
| Byron Bank | 5653 N. Junction Way Davis Junction, IL 61020 | Full Service B&M | $16,483 |
For 2018, Byron Bank had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $9,412 |
| Net interest income | $7,398 |
| Total noninterest income | $2,920 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $226 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,694 |
| Pre-tax net operating income | $3,388 |
| Securities gains (or losses, -) | $77 |
| Income before extraordinary items | $3,418 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,418 |
| Minority interest net income | $0 |
| Net income | $3,418 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,341 |
Byron Bank's gross interest income from loans was $9,412,000.
Byron Bank's net interest income from loans was $7,398,000.
Byron Bank's fee based income from loans was $226,000.
Byron Bank's net income from loans was $3,418,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,014 |
| Provision for credit losses | $330 |
| Total noninterest expense | $6,600 |
| Salaries and employee benefits | $3,931 |
| Premises and equipment expense | $882 |
| Additional noninterest expense | $1,787 |
| Applicable income taxes | $47 |
| Net charge-offs | $208 |
| Cash dividends | $2,390 |
Byron Bank's interest expense for loans was $2,014,000.
Byron Bank's payroll and benefits expense were $3,931,000.
Byron Bank's property, plant and equipment expenses $882,000.
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 | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| 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 | $225,278 |
| Deposits held in domestic offices | $225,278 |
| Deposits by Individuals, partnerships, and corporations | $188,454 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $36,576 |
| Deposits by Commercial banks and other depository institutions in U.S. | $248 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $88,723 |
| Demand deposits | $34,540 |
| Nontransaction accounts | $136,555 |
| Money market deposit accounts (MMDAs) | $21,330 |
| Other savings deposits (excluding MMDAs) | $6,414 |
| Total time deposits | $108,811 |
| Total time and savings deposits | $190,738 |
| Noninterest-bearing deposits | $34,540 |
| Interest-bearing deposits | $190,738 |
| Retail deposits | $203,277 |
| IRAs and Keogh plan accounts | $14,120 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $257,078 |
| Cash & Balances due from depository institutions | $8,024 |
| Interest-bearing balances | $3,660 |
| Total securities | $93,154 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $145,239 |
| Loan and leases loss allowance | $1,318 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $2,959 |
| Other real estate owned | $376 |
| Goodwill and other intangibles | $743 |
| All other assets | $6,583 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $257,078 |
| Total Liabilities | $231,041 |
| Total deposits | $225,278 |
| Interest-bearing deposits | $190,738 |
| Deposits held in domestic offices | $225,278 |
| % insured (estimated) | $87 |
| Federal funds purchased and repurchase agreements | $3,426 |
| Trading liabilities | $0 |
| Other borrowed funds | $1,277 |
| Subordinated debt | $0 |
| All other liabilities | $1,060 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $145,239 |
| Loan and leases loss allowance | $1,318 |
| Total loans and leases (domestic) | $146,557 |
| All real estate loans | $110,930 |
| Real estate loans in domestic offices | $110,930 |
| Construction and development loans | $4,862 |
| Residential 1-4 family construction | $2,647 |
| Other construction, all land development and other land | $2,215 |
| Loans secured by nonfarm nonresidential properties | $53,143 |
| Nonfarm nonresidential secured by owner-occupied properties | $24,104 |
| Commercial real estate & other non-farm, non-residential | $29,039 |
| Multifamily residential real estate | $6,094 |
| 1-4 family residential loans | $40,297 |
| Farmland loans | $6,534 |
| Loans held in foreign offices | $0 |
| Farm loans | $4,205 |
| Commercial and industrial loans | $23,729 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $6,383 |
| Credit card loans | $628 |
| Related Plans | $62 |
| Consumer Auto Loans | $2,363 |
| Other loans to individuals | $3,330 |
| All other loans & leases | $1,310 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $218 |
| Loans to depository institutions and acceptances of other banks | $686 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,535 |
| Non 1-4 family restructured loans & leases | $599 |
| Total loans and leases (foreign) | $0 |
Byron Bank had $145,239,000 of loans outstanding in 2018. $110,930,000 of loans were in real estate loans. $4,862,000 of loans were in development loans. $6,094,000 of loans were in multifamily mortgage loans. $40,297,000 of loans were in 1-4 family mortgage loans. $4,205,000 of loans were in farm loans. $628,000 of loans were in credit card loans. $2,363,000 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 | 159 | $28,173 | $177,189 |
| Nonfarm, nonresidential loans - <$100k | 61 | $2,642 | $43,311 |
| Nonfarm, nonresidential loans - $100-250k | 57 | $6,578 | $115,404 |
| Nonfarm, nonresidential loans - $250k-1MM | 41 | $18,953 | $462,268 |
| Commercial & Industrial, US addressed loans - <$1MM | 136 | $17,474 | $128,485 |
| Commercial & Industrial, US addressed loans - <$100k | 84 | $2,282 | $27,167 |
| Commercial & Industrial, US addressed loans - $100-250k | 21 | $2,238 | $106,571 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 31 | $12,954 | $417,871 |
| Farmland loans - <$1MM | 31 | $3,993 | $128,806 |
| Farmland loans - <$100k | 13 | $589 | $45,308 |
| Farmland loans - $100-250k | 13 | $1,688 | $129,846 |
| Farmland loans - $250k-1MM | 5 | $1,716 | $343,200 |
| Agriculture operations loans - <$1MM | 23 | $2,062 | $89,652 |
| Agriculture operations loans - <$100k | 17 | $400 | $23,529 |
| Agriculture operations loans - $100-250k | 1 | $219 | $219,000 |
| Agriculture operations loans - $250k-1MM | 5 | $1,443 | $288,600 |