Byron Bank Mortgage Rates, Fees & Info

Byron, IL

LEI: 254900KE9OJJUH139Q12

Tax ID: 36-1694689

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Mortgage Data

Bank Data

Review & Overview

Byron Bank is a smaller bank specializing in Refi and 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 39 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 an above 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.

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 7.06% 3/28/24
30 Year Conventional Refi 6.39% 3/28/24
30 Year Cash-out Refi 6.83% 3/28/24
15 Year Conventional Purchase 6.43% 3/28/24
15 Year Conventional Refi 5.86% 3/28/24
15 Year Cash-out Refi 5.86% 3/28/24
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






Your Estimates

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This is not an official calculator from Byron 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

995

Origination Dollar Volume (All Markets)

$168,505,000

Employee count

64

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
ROCKFORD, IL (FHA|USDA|VA) 483 $75,805,000 $156,946 $0 0.00%
Rochelle, IL (FHA|USDA|VA) 335 $54,305,000 $162,104 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 72 $18,070,000 $250,972 $0 0.00%
Dixon, IL (FHA|USDA|VA) 21 $3,815,000 $181,667 $0 0.00%
Freeport, IL (FHA|USDA|VA) 16 $2,700,000 $168,750 $0 0.00%
Outside of Metro Areas 11 $2,095,000 $190,455 $0 0.00%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 10 $1,660,000 $166,000 $0 0.00%
MADISON, WI (FHA|USDA|VA) 5 $1,475,000 $295,000 $0 0.00%
IOWA CITY, IA (FHA|USDA|VA) 2 $690,000 $345,000 $0 0.00%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $560,000 $280,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $495,000 $165,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $450,000 $225,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
TULSA, OK (FHA|USDA|VA) 2 $420,000 $210,000 $0 0.00%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
Whitewater, WI (FHA|USDA|VA) 3 $405,000 $135,000 $0 0.00%
Sterling, IL (FHA|USDA|VA) 3 $365,000 $121,667 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 2 $320,000 $160,000 $0 0.00%
BOULDER, CO (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
DULUTH, MN-WI (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
OCALA, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Baraboo, WI (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
Manitowoc, WI (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
GAINESVILLE, GA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Oak Harbor, WA (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Clinton, IA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Mount Vernon, IL (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Murray, KY (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Ottawa, IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Byron Bank's top markets include Rockford, Rochelle, Chicago, Dixon, and Freeport among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Similar Lenders

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 994 $168,400,000 $169,416 $0 0.00%
    USDA 1 $105,000 $105,000 $0 0.00%

    For 2020, Byron Bank's most frequently originated type of loan was Conventional, with 994 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 602 $99,960,000 $166,047 $0 0.00%
    Home Purchase 220 $39,390,000 $179,045 $0 0.00%
    Cash Out Refi 159 $27,625,000 $173,742 $0 0.00%
    Other 10 $940,000 $94,000 $0 0.00%
    Home Improvement 4 $590,000 $147,500 $0 0.00%

    For 2020, Byron Bank's most frequently cited loan purpose was Refi, with 602 originations. The 2nd most popular reason was Home Purchase, with 220 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 995 $168,505,000 $169,352 $0 0.00%

    For 2020, Byron Bank's most frequently cited loan duration was Other, with 995 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 504 $72,910,000 $144,663 $0 0.00%
    $200k-400k 244 $63,300,000 $259,426 $0 0.00%
    $100,000 or less 219 $15,835,000 $72,306 $0 0.00%
    $400k-600k 23 $10,695,000 $465,000 $0 0.00%
    $1MM+ 3 $4,465,000 $1,488,333 $0 0.00%
    $600k-1MM 2 $1,300,000 $650,000 $0 0.00%

    2020 saw Byron Bank place emphasis on $100k-200k loans with 504 originations, totaling $72,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 279 $49,915,000 $178,907 $0 0.00%
    $75k-100k 183 $27,555,000 $150,574 $0 0.00%
    $50k-75k 164 $21,660,000 $132,073 $0 0.00%
    $150k-250k 163 $34,005,000 $208,620 $0 0.00%
    $50k or less 92 $8,850,000 $96,196 $0 0.00%
    $250k+ 49 $14,285,000 $291,531 $0 0.00%

    Byron Bank lent most frequently to those with incomes in the $100k-150k range, with 279 originations. The second most popular income band? $75k-100k, with 183 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 995 $168,505,000 $169,352 $0 0.00%

    Byron Bank lent most frequently to those with DTI ratios of Exempt%, with 995 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 920 $153,150,000 $166,467 $0 0.00%
    Not applicable 53 $10,725,000 $202,358 $0 0.00%
    Not provided 13 $2,015,000 $155,000 $0 0.00%
    Asian 1 $1,545,000 $1,545,000 $0 0.00%
    Black 5 $805,000 $161,000 $0 0.00%
    Asian Indian 2 $150,000 $75,000 $0 0.00%
    Native Hawaiian or Islander 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.36%

    Byron Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    90.95%

    Byron Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 995 $168,505,000 $169,352

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 20 $8,180,000 $409,000
    Single Family (1-4 Units):Site-Built 975 $160,325,000 $164,436

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Byron Bank 201 West Blackhawk Street Byron, IL 61010 Full Service Retail $28,063
    Byron Bank 5653 N. Junction Way Davis Junction, IL 61020 Full Service B&M $19,602
    Byron Bank 11159 Highway 76 Poplar Grove, IL 61065 Full Service B&M $57,728
    Byron Bank 200 North Walnut Byron, IL 61010 Full Service B&M $160,228

    For 2020, Byron Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,690
    Net interest income $8,527
    Total noninterest income $5,169
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $150
    Trading account gains and fees $0
    Additional Noninterest Income $5,019
    Pre-tax net operating income $4,326
    Securities gains (or losses, -) $1
    Income before extraordinary items $4,266
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,266
    Minority interest net income $0
    Net income $4,266
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,265

    Byron Bank's gross interest income from loans was $10,690,000.
    Byron Bank's net interest income from loans was $8,527,000.
    Byron Bank's fee based income from loans was $150,000.
    Byron Bank's net income from loans was $4,266,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,163
    Provision for credit losses $1,086
    Total noninterest expense $8,284
    Salaries and employee benefits $4,830
    Premises and equipment expense $735
    Additional noninterest expense $2,719
    Applicable income taxes $61
    Net charge-offs $311
    Cash dividends $1,565

    Byron Bank's interest expense for loans was $2,163,000.
    Byron Bank's payroll and benefits expense were $4,830,000.
    Byron Bank's property, plant and equipment expenses $735,000.

    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 2.0%
    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 $271,749
    Deposits held in domestic offices $271,749
    Deposits by Individuals, partnerships, and corporations $224,236
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $47,265
    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 $124,003
    Demand deposits $52,134
    Nontransaction accounts $147,746
    Money market deposit accounts (MMDAs) $24,389
    Other savings deposits (excluding MMDAs) $11,972
    Total time deposits $111,385
    Total time and savings deposits $219,615
    Noninterest-bearing deposits $52,133
    Interest-bearing deposits $219,616
    Retail deposits $243,215
    IRAs and Keogh plan accounts $14,806
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $311,047
    Cash & Balances due from depository institutions $23,942
    Interest-bearing balances $18,903
    Total securities $69,358
    Federal funds sold & reverse repurchase $838
    Net loans and leases $206,210
    Loan and leases loss allowance $2,250
    Trading account assets $0
    Bank premises and fixed assets $2,953
    Other real estate owned $154
    Goodwill and other intangibles $578
    All other assets $7,014

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $311,047
    Total Liabilities $278,093
    Total deposits $271,749
    Interest-bearing deposits $219,616
    Deposits held in domestic offices $271,749
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,235
    Subordinated debt $0
    All other liabilities $1,109

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $206,210
    Loan and leases loss allowance $2,250
    Total loans and leases (domestic) $208,460
    All real estate loans $154,035
    Real estate loans in domestic offices $154,035
    Construction and development loans $5,705
    Residential 1-4 family construction $1,637
    Other construction, all land development and other land $4,068
    Loans secured by nonfarm nonresidential properties $70,616
    Nonfarm nonresidential secured by owner-occupied properties $39,225
    Commercial real estate & other non-farm, non-residential $31,391
    Multifamily residential real estate $13,828
    1-4 family residential loans $52,768
    Farmland loans $11,118
    Loans held in foreign offices $0
    Farm loans $4,269
    Commercial and industrial loans $39,234
    To non-U.S. addressees $0
    Loans to individuals $7,042
    Credit card loans $613
    Related Plans $40
    Consumer Auto Loans $2,652
    Other loans to individuals $3,737
    All other loans & leases $3,880
    Loans to foreign governments and official institutions $0
    Other loans $9
    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 $1,003
    Non 1-4 family restructured loans & leases $663
    Total loans and leases (foreign) $0

    Byron Bank had $206,210,000 of loans outstanding in 2020. $154,035,000 of loans were in real estate loans. $5,705,000 of loans were in development loans. $13,828,000 of loans were in multifamily mortgage loans. $52,768,000 of loans were in 1-4 family mortgage loans. $4,269,000 of loans were in farm loans. $613,000 of loans were in credit card loans. $2,652,000 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 175 $36,836 $210,491
    Nonfarm, nonresidential loans - <$100k 50 $2,346 $46,920
    Nonfarm, nonresidential loans - $100-250k 68 $8,152 $119,882
    Nonfarm, nonresidential loans - $250k-1MM 57 $26,338 $462,070
    Commercial & Industrial, US addressed loans - <$1MM 149 $10,670 $71,611
    Commercial & Industrial, US addressed loans - <$100k 109 $3,021 $27,716
    Commercial & Industrial, US addressed loans - $100-250k 23 $2,834 $123,217
    Commercial & Industrial, US addressed loans - $250k-1MM 17 $4,815 $283,235
    Farmland loans - <$1MM 31 $4,809 $155,129
    Farmland loans - <$100k 11 $465 $42,273
    Farmland loans - $100-250k 12 $1,596 $133,000
    Farmland loans - $250k-1MM 8 $2,748 $343,500
    Agriculture operations loans - <$1MM 23 $1,379 $59,957
    Agriculture operations loans - <$100k 19 $466 $24,526
    Agriculture operations loans - $100-250k 1 $42 $42,000
    Agriculture operations loans - $250k-1MM 3 $871 $290,333