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, Refi, and Cash Out Refi 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 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Byron 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.
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
387Origination Dollar Volume (All Markets)
$57,455,000Employee 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) | 182 | $26,890,000 | $147,747 | $0 | 0.00% |
| Rochelle, IL (FHA|USDA|VA) | 157 | $21,415,000 | $136,401 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 13 | $2,935,000 | $225,769 | $0 | 0.00% |
| Dixon, IL (FHA|USDA|VA) | 9 | $1,965,000 | $218,333 | $0 | 0.00% |
| Outside of Metro Areas | 4 | $910,000 | $227,500 | $0 | 0.00% |
| Freeport, IL (FHA|USDA|VA) | 6 | $770,000 | $128,333 | $0 | 0.00% |
| Whitewater, WI (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $0 | 0.00% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 4 | $570,000 | $142,500 | $0 | 0.00% |
| MANHATTAN, KS (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| OSHKOSH-NEENAH, WI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| MADISON, WI (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| Watertown-Fort Atkinson, WI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Sterling, IL (FHA|USDA|VA) | 2 | $60,000 | $30,000 | $0 | 0.00% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $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.
Similarity Rank: 14
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 380 | $56,780,000 | $149,421 | $0 | 0.00% |
| USDA | 7 | $675,000 | $96,429 | $0 | 0.00% |
For 2019, Byron Bank's most frequently originated type of loan was Conventional, with 380 originations. Their 2nd most popular type was USDA, with 7 originations.
Loan Reason
For 2019, Byron Bank's most frequently cited loan purpose was Home Purchase, with 170 originations. The 2nd most popular reason was Refi, with 105 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 387 | $57,455,000 | $148,463 | $0 | 0.00% |
For 2019, Byron Bank's most frequently cited loan duration was Other, with 387 originations.
Loan Sizing
2019 saw Byron Bank place emphasis on $100k-200k loans with 192 originations, totaling $27,330,000 in origination value.
Applicant Income
Byron Bank lent most frequently to those with incomes in the $100k-150k range, with 89 originations. The second most popular income band? $50k-75k, with 86 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 387 | $57,455,000 | $148,463 | $0 | 0.00% |
Byron Bank lent most frequently to those with DTI ratios of Exempt%, with 387 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.91%
Byron Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.89%
Byron Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 387 | $57,455,000 | $148,463 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Byron Bank | 11159 Highway 76 Poplar Grove, IL 61065 | Full Service B&M | $44,562 |
| Byron Bank | 200 North Walnut Byron, IL 61010 | Full Service B&M | $146,102 |
| Byron Bank | 201 West Blackhawk Street Byron, IL 61010 | Full Service Retail | $25,667 |
| Byron Bank | 5653 N. Junction Way Davis Junction, IL 61020 | Full Service B&M | $17,670 |
For 2019, Byron Bank had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $10,694 |
| Net interest income | $7,821 |
| Total noninterest income | $3,408 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $217 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,191 |
| Pre-tax net operating income | $3,330 |
| Securities gains (or losses, -) | $40 |
| Income before extraordinary items | $3,327 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,327 |
| Minority interest net income | $0 |
| Net income | $3,327 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,287 |
Byron Bank's gross interest income from loans was $10,694,000.
Byron Bank's net interest income from loans was $7,821,000.
Byron Bank's fee based income from loans was $217,000.
Byron Bank's net income from loans was $3,327,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,873 |
| Provision for credit losses | $420 |
| Total noninterest expense | $7,479 |
| Salaries and employee benefits | $4,363 |
| Premises and equipment expense | $913 |
| Additional noninterest expense | $2,203 |
| Applicable income taxes | $43 |
| Net charge-offs | $263 |
| Cash dividends | $1,987 |
Byron Bank's interest expense for loans was $2,873,000.
Byron Bank's payroll and benefits expense were $4,363,000.
Byron Bank's property, plant and equipment expenses $913,000.
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 | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 2.0% |
| HELOC loans | 0.0% |
| All other family | 2.0% |
| Commercial & industrial loans | 4.0% |
| Personal loans | 0.0% |
| Credit card loans | 1.2% |
| 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 | $239,516 |
| Deposits held in domestic offices | $239,516 |
| Deposits by Individuals, partnerships, and corporations | $197,393 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $41,875 |
| 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 | $95,348 |
| Demand deposits | $39,256 |
| Nontransaction accounts | $144,168 |
| Money market deposit accounts (MMDAs) | $25,079 |
| Other savings deposits (excluding MMDAs) | $4,807 |
| Total time deposits | $114,282 |
| Total time and savings deposits | $200,260 |
| Noninterest-bearing deposits | $39,256 |
| Interest-bearing deposits | $200,260 |
| Retail deposits | $218,753 |
| IRAs and Keogh plan accounts | $13,737 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $271,693 |
| Cash & Balances due from depository institutions | $9,618 |
| Interest-bearing balances | $5,515 |
| Total securities | $81,100 |
| Federal funds sold & reverse repurchase | $746 |
| Net loans and leases | $169,511 |
| Loan and leases loss allowance | $1,475 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,000 |
| Other real estate owned | $251 |
| Goodwill and other intangibles | $793 |
| All other assets | $6,674 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $271,693 |
| Total Liabilities | $242,549 |
| Total deposits | $239,516 |
| Interest-bearing deposits | $200,260 |
| Deposits held in domestic offices | $239,516 |
| % insured (estimated) | $85 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $1,257 |
| Subordinated debt | $0 |
| All other liabilities | $1,776 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $169,511 |
| Loan and leases loss allowance | $1,475 |
| Total loans and leases (domestic) | $170,986 |
| All real estate loans | $130,805 |
| Real estate loans in domestic offices | $130,805 |
| Construction and development loans | $4,454 |
| Residential 1-4 family construction | $2,393 |
| Other construction, all land development and other land | $2,061 |
| Loans secured by nonfarm nonresidential properties | $64,613 |
| Nonfarm nonresidential secured by owner-occupied properties | $35,024 |
| Commercial real estate & other non-farm, non-residential | $29,589 |
| Multifamily residential real estate | $8,957 |
| 1-4 family residential loans | $45,740 |
| Farmland loans | $7,041 |
| Loans held in foreign offices | $0 |
| Farm loans | $6,246 |
| Commercial and industrial loans | $22,801 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $7,357 |
| Credit card loans | $679 |
| Related Plans | $55 |
| Consumer Auto Loans | $2,770 |
| Other loans to individuals | $3,853 |
| All other loans & leases | $3,777 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $15 |
| 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 | $1,503 |
| Non 1-4 family restructured loans & leases | $678 |
| Total loans and leases (foreign) | $0 |
Byron Bank had $169,511,000 of loans outstanding in 2019. $130,805,000 of loans were in real estate loans. $4,454,000 of loans were in development loans. $8,957,000 of loans were in multifamily mortgage loans. $45,740,000 of loans were in 1-4 family mortgage loans. $6,246,000 of loans were in farm loans. $679,000 of loans were in credit card loans. $2,770,000 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 | 167 | $32,749 | $196,102 |
| Nonfarm, nonresidential loans - <$100k | 57 | $2,475 | $43,421 |
| Nonfarm, nonresidential loans - $100-250k | 61 | $7,105 | $116,475 |
| Nonfarm, nonresidential loans - $250k-1MM | 49 | $23,169 | $472,837 |
| Commercial & Industrial, US addressed loans - <$1MM | 154 | $14,623 | $94,955 |
| Commercial & Industrial, US addressed loans - <$100k | 104 | $3,049 | $29,317 |
| Commercial & Industrial, US addressed loans - $100-250k | 24 | $2,644 | $110,167 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 26 | $8,930 | $343,462 |
| Farmland loans - <$1MM | 30 | $4,047 | $134,900 |
| Farmland loans - <$100k | 11 | $513 | $46,636 |
| Farmland loans - $100-250k | 14 | $1,832 | $130,857 |
| Farmland loans - $250k-1MM | 5 | $1,702 | $340,400 |
| Agriculture operations loans - <$1MM | 22 | $1,716 | $78,000 |
| Agriculture operations loans - <$100k | 16 | $398 | $24,875 |
| Agriculture operations loans - $100-250k | 2 | $395 | $197,500 |
| Agriculture operations loans - $250k-1MM | 4 | $923 | $230,750 |