Pike Bancorp Mortgage Rates, Fees & Info

Pittsfield, IL

LEI: 254900SRBPINTG8V7N66

Tax ID: 37-0270120

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Pike Bancorp is a smaller mortgage company specializing in Home Purchase and Refi loans. Pike Bancorp has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Springfield, and Jacksonville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Pike Bancorp 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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    Originations

    74

    Origination Dollar Volume (All Markets)

    $8,810,000

    Employee count

    46

    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 52 $6,830,000 $131,346 $0 0.00%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 20 $1,810,000 $90,500 $0 0.00%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Jacksonville, IL (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
    Pike Bancorp's top markets include St. Louis, Springfield, and Jacksonville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 74 $8,810,000 $119,054 $0 0.00%

    For 2021, Pike Bancorp's most frequently originated type of loan was Conventional, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 32 $4,520,000 $141,250 $0 0.00%
    Refi 26 $2,370,000 $91,154 $0 0.00%
    Cash Out Refi 14 $1,710,000 $122,143 $0 0.00%
    Other 2 $210,000 $105,000 $0 0.00%

    For 2021, Pike Bancorp's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 74 $8,810,000 $119,054 $0 0.00%

    For 2021, Pike Bancorp's most frequently cited loan duration was Other, with 74 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 35 $1,705,000 $48,714 $0 0.00%
    $100k-200k 29 $4,035,000 $139,138 $0 0.00%
    $200k-400k 8 $1,970,000 $246,250 $0 0.00%
    $400k-600k 2 $1,100,000 $550,000 $0 0.00%

    2021 saw Pike Bancorp place emphasis on $100,000 or less loans with 35 originations, totaling $1,705,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 16 $1,670,000 $104,375 $0 0.00%
    $50k or less 15 $1,145,000 $76,333 $0 0.00%
    $75k-100k 15 $2,195,000 $146,333 $0 0.00%
    $50k-75k 14 $1,420,000 $101,429 $0 0.00%
    $150k-250k 5 $555,000 $111,000 $0 0.00%
    $250k+ 5 $1,515,000 $303,000 $0 0.00%

    Pike Bancorp lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $50k or less, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 74 $8,810,000 $119,054 $0 0.00%

    Pike Bancorp lent most frequently to those with DTI ratios of Exempt%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 70 $8,560,000 $122,286 $0 0.00%
    Not applicable 3 $145,000 $48,333 $0 0.00%
    Not provided 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.37%

    Pike Bancorp has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.49%

    Pike Bancorp has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 74 $8,810,000 $119,054

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    74 $8,810,000 $119,054

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PACE Funding Group, LLC Conventional home mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Farmers State Bank 108 East Adams Street Pittsfield, IL 62363 Full Service B&M $168,479
    Farmers State Bank 133 North Main Street White Hall, IL 62092 Full Service B&M $30,050
    Farmers State Bank 25 East Cherry Winchester, IL 62694 Full Service B&M $30,804
    Farmers State Bank 712 West County Road Jerseyville, IL 62052 Full Service B&M $24,800
    Farmers State Bank Route 106 West Pittsfield Pittsfield, IL 62363 Full Service B&M $0
    Farmers State Bank Walnut Street And Highway 36 Hull, IL 62343 Full Service B&M $13,889

    For 2021, Pike Bancorp had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,373
    Net interest income $9,622
    Total noninterest income $1,408
    Gross Fiduciary activities income $471
    Service charges on deposit accounts $403
    Trading account gains and fees $0
    Additional Noninterest Income $534
    Pre-tax net operating income $3,948
    Securities gains (or losses, -) $26
    Income before extraordinary items $3,918
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,918
    Minority interest net income $0
    Net income $3,918
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,892

    Pike Bancorp's gross interest income from loans was $10,373,000.
    Pike Bancorp's net interest income from loans was $9,622,000.
    Pike Bancorp's fee based income from loans was $403,000.
    Pike Bancorp's net income from loans was $3,918,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $751
    Provision for credit losses $0
    Total noninterest expense $7,082
    Salaries and employee benefits $4,212
    Premises and equipment expense $997
    Additional noninterest expense $1,873
    Applicable income taxes $56
    Net charge-offs $-13
    Cash dividends $1,752

    Pike Bancorp's interest expense for loans was $751,000.
    Pike Bancorp's payroll and benefits expense were $4,212,000.
    Pike Bancorp's property, plant and equipment expenses $997,000.

    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 2.0%
    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 $278,084
    Deposits held in domestic offices $278,084
    Deposits by Individuals, partnerships, and corporations $239,228
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $38,856
    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 $133,565
    Demand deposits $81,176
    Nontransaction accounts $144,519
    Money market deposit accounts (MMDAs) $41,288
    Other savings deposits (excluding MMDAs) $71,385
    Total time deposits $31,846
    Total time and savings deposits $196,908
    Noninterest-bearing deposits $81,176
    Interest-bearing deposits $196,908
    Retail deposits $272,398
    IRAs and Keogh plan accounts $6,330
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $320,882
    Cash & Balances due from depository institutions $4,533
    Interest-bearing balances $1,308
    Total securities $46,027
    Federal funds sold & reverse repurchase $57,070
    Net loans and leases $204,477
    Loan and leases loss allowance $1,946
    Trading account assets $0
    Bank premises and fixed assets $4,485
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $4,290

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $320,882
    Total Liabilities $280,332
    Total deposits $278,084
    Interest-bearing deposits $196,908
    Deposits held in domestic offices $278,084
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,248

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $204,477
    Loan and leases loss allowance $1,946
    Total loans and leases (domestic) $206,423
    All real estate loans $162,571
    Real estate loans in domestic offices $162,571
    Construction and development loans $5,028
    Residential 1-4 family construction $523
    Other construction, all land development and other land $4,505
    Loans secured by nonfarm nonresidential properties $38,828
    Nonfarm nonresidential secured by owner-occupied properties $18,485
    Commercial real estate & other non-farm, non-residential $20,343
    Multifamily residential real estate $124
    1-4 family residential loans $10,089
    Farmland loans $108,502
    Loans held in foreign offices $0
    Farm loans $30,828
    Commercial and industrial loans $9,494
    To non-U.S. addressees $0
    Loans to individuals $2,765
    Credit card loans $0
    Related Plans $34
    Consumer Auto Loans $2,152
    Other loans to individuals $579
    All other loans & leases $765
    Loans to foreign governments and official institutions $0
    Other loans $281
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $132
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $34
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Pike Bancorp had $204,477,000 of loans outstanding in 2021. $162,571,000 of loans were in real estate loans. $5,028,000 of loans were in development loans. $124,000 of loans were in multifamily mortgage loans. $10,089,000 of loans were in 1-4 family mortgage loans. $30,828,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,152,000 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 72 $11,229 $155,958
    Nonfarm, nonresidential loans - <$100k 29 $869 $29,966
    Nonfarm, nonresidential loans - $100-250k 14 $1,283 $91,643
    Nonfarm, nonresidential loans - $250k-1MM 29 $9,077 $313,000
    Commercial & Industrial, US addressed loans - <$1MM 133 $5,234 $39,353
    Commercial & Industrial, US addressed loans - <$100k 114 $2,485 $21,798
    Commercial & Industrial, US addressed loans - $100-250k 14 $1,583 $113,071
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $1,166 $233,200
    Farmland loans - <$1MM 329 $44,840 $136,292
    Farmland loans - <$100k 111 $4,041 $36,405
    Farmland loans - $100-250k 135 $16,830 $124,667
    Farmland loans - $250k-1MM 83 $23,969 $288,783
    Agriculture operations loans - <$1MM 362 $19,107 $52,782
    Agriculture operations loans - <$100k 301 $8,865 $29,452
    Agriculture operations loans - $100-250k 41 $4,883 $119,098
    Agriculture operations loans - $250k-1MM 20 $5,359 $267,950