Bank Of Pontiac Mortgage Rates, Fees & Info
Pontiac, ILLEI: 5493000KJ6VEEFTSNI20
Tax ID: 37-1114524
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Bank Data
Review & Overview
Bank Of Pontiac is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Bank Of Pontiac has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Pontiac, Chicago, Bloomington, Champaign, and Peoria among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)Bank Of Pontiac 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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 12/16/24 |
| 30 Year Conventional Purchase | 6.91% | 12/16/24 |
| 30 Year Conventional Refi | 6.55% | 12/16/24 |
| 30 Year Cash-out Refi | 6.84% | 12/16/24 |
| 30 Year USDA Purchase | 7.59% | 12/16/24 |
| 15 Year Conventional Purchase | 6.61% | 12/16/24 |
| 15 Year Conventional Refi | 6.37% | 12/16/24 |
| 15 Year Cash-out Refi | 6.37% | 12/16/24 |
| 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. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
623Origination Dollar Volume (All Markets)
$96,195,000Employee count
88Top 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 |
|---|---|---|---|---|---|
| Pontiac, IL (FHA|USDA|VA) | 412 | $51,220,000 | $124,320 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 102 | $28,480,000 | $279,216 | $0 | 0.00% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 46 | $6,140,000 | $133,478 | $0 | 0.00% |
| Outside of Metro Areas | 14 | $2,330,000 | $166,429 | $0 | 0.00% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 7 | $1,335,000 | $190,714 | $0 | 0.00% |
| PEORIA, IL (FHA|USDA|VA) | 13 | $1,255,000 | $96,538 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 8 | $820,000 | $102,500 | $0 | 0.00% |
| KANKAKEE, IL (FHA|USDA|VA) | 5 | $805,000 | $161,000 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 4 | $680,000 | $170,000 | $0 | 0.00% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 0.00% |
| Jasper, IN (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Effingham, IL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Farmington, MO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| LEXINGTON-FAYETTE, KY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Bank of Pontiac 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 | 617 | $95,555,000 | $154,870 | $0 | 0.00% |
| USDA | 6 | $640,000 | $106,667 | $0 | 0.00% |
For 2020, Bank Of Pontiac's most frequently originated type of loan was Conventional, with 617 originations. Their 2nd most popular type was USDA, with 6 originations.
Loan Reason
For 2020, Bank Of Pontiac's most frequently cited loan purpose was Refi, with 282 originations. The 2nd most popular reason was Home Purchase, with 167 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 623 | $96,195,000 | $154,406 | $0 | 0.00% |
For 2020, Bank Of Pontiac's most frequently cited loan duration was Other, with 623 originations.
Loan Sizing
2020 saw Bank Of Pontiac place emphasis on $100k-200k loans with 251 originations, totaling $35,595,000 in origination value.
Applicant Income
Bank Of Pontiac lent most frequently to those with incomes in the $100k-150k range, with 141 originations. The second most popular income band? $50k-75k, with 139 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 623 | $96,195,000 | $154,406 | $0 | 0.00% |
Bank Of Pontiac lent most frequently to those with DTI ratios of Exempt%, with 623 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.97%
Bank Of Pontiac has an average approval rate.
Pick Rate
Approvals leading to origination89.25%
Bank Of Pontiac has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 623 | $96,195,000 | $154,406 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | Conventional home mortgage | Incorrect information on your report | 1 | 3.8% |
| BANK OF THE WEST | Conventional home mortgage | Closing on a mortgage | 2 | 7.7% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 4 | 15.4% |
| BANK OF THE WEST | Other type of mortgage | Struggling to pay mortgage | 2 | 7.7% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.8% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 6 | 23.1% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 3.8% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 2 | 7.7% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 4 | 15.4% |
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 7.7% |
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 1 | 3.8% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Bank of Pontiac | 101 East Oak Street Fairbury, IL 61739 | Limited, Drive-thru | $0 |
| Bank of Pontiac | 104 East Locust Street Fairbury, IL 61739 | Full Service B&M | $81,358 |
| Bank of Pontiac | 1703 West Reynolds Street Pontiac, IL 61764 | Full Service B&M | $11,829 |
| Bank of Pontiac | 200 South Waupansie Odell, IL 60460 | Full Service B&M | $20,328 |
| Bank of Pontiac | 201 East Chippewa Dwight, IL 60420 | Full Service B&M | $33,985 |
| Bank of Pontiac | 300 West Washington Street Pontiac, IL 61764 | Full Service B&M | $328,533 |
| Bank of Pontiac | 500 South Center Street Forrest, IL 61741 | Full Service B&M | $13,193 |
| Bank of Pontiac | 85 South Broadway Coal City, IL 60416 | Full Service B&M | $12,734 |
For 2020, Bank Of Pontiac had 8 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $22,873 |
| Net interest income | $19,675 |
| Total noninterest income | $6,446 |
| Gross Fiduciary activities income | $683 |
| Service charges on deposit accounts | $397 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $5,366 |
| Pre-tax net operating income | $10,943 |
| Securities gains (or losses, -) | $158 |
| Income before extraordinary items | $8,280 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $8,280 |
| Minority interest net income | $0 |
| Net income | $8,280 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $8,155 |
Bank Of Pontiac's gross interest income from loans was $22,873,000.
Bank Of Pontiac's net interest income from loans was $19,675,000.
Bank Of Pontiac's fee based income from loans was $397,000.
Bank Of Pontiac's net income from loans was $8,280,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,198 |
| Provision for credit losses | $1,950 |
| Total noninterest expense | $13,228 |
| Salaries and employee benefits | $7,476 |
| Premises and equipment expense | $1,622 |
| Additional noninterest expense | $4,130 |
| Applicable income taxes | $2,821 |
| Net charge-offs | $621 |
| Cash dividends | $8,000 |
Bank Of Pontiac's interest expense for loans was $3,198,000.
Bank Of Pontiac's payroll and benefits expense were $7,476,000.
Bank Of Pontiac's property, plant and equipment expenses $1,622,000.
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 | 1.0% |
| 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 | $536,559 |
| Deposits held in domestic offices | $536,559 |
| Deposits by Individuals, partnerships, and corporations | $456,581 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $79,553 |
| Deposits by Commercial banks and other depository institutions in U.S. | $425 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $216,760 |
| Demand deposits | $115,443 |
| Nontransaction accounts | $319,799 |
| Money market deposit accounts (MMDAs) | $131,322 |
| Other savings deposits (excluding MMDAs) | $59,551 |
| Total time deposits | $128,926 |
| Total time and savings deposits | $421,116 |
| Noninterest-bearing deposits | $115,443 |
| Interest-bearing deposits | $421,116 |
| Retail deposits | $505,759 |
| IRAs and Keogh plan accounts | $18,334 |
| Brokered deposits | $5,385 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $624,835 |
| Cash & Balances due from depository institutions | $86,675 |
| Interest-bearing balances | $77,566 |
| Total securities | $79,558 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $431,917 |
| Loan and leases loss allowance | $5,959 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $7,604 |
| Other real estate owned | $960 |
| Goodwill and other intangibles | $2,059 |
| All other assets | $16,062 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $624,835 |
| Total Liabilities | $551,447 |
| Total deposits | $536,559 |
| Interest-bearing deposits | $421,116 |
| Deposits held in domestic offices | $536,559 |
| % insured (estimated) | $73 |
| Federal funds purchased and repurchase agreements | $3,844 |
| Trading liabilities | $0 |
| Other borrowed funds | $4,000 |
| Subordinated debt | $0 |
| All other liabilities | $7,044 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $431,917 |
| Loan and leases loss allowance | $5,959 |
| Total loans and leases (domestic) | $437,876 |
| All real estate loans | $295,064 |
| Real estate loans in domestic offices | $295,064 |
| Construction and development loans | $11,094 |
| Residential 1-4 family construction | $1,185 |
| Other construction, all land development and other land | $9,909 |
| Loans secured by nonfarm nonresidential properties | $96,039 |
| Nonfarm nonresidential secured by owner-occupied properties | $55,247 |
| Commercial real estate & other non-farm, non-residential | $40,792 |
| Multifamily residential real estate | $7,725 |
| 1-4 family residential loans | $124,105 |
| Farmland loans | $56,101 |
| Loans held in foreign offices | $0 |
| Farm loans | $33,981 |
| Commercial and industrial loans | $84,499 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $24,249 |
| Credit card loans | $0 |
| Related Plans | $68 |
| Consumer Auto Loans | $12,042 |
| Other loans to individuals | $12,139 |
| All other loans & leases | $128 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $128 |
| 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 | $2,214 |
| Non 1-4 family restructured loans & leases | $1,353 |
| Total loans and leases (foreign) | $0 |
Bank of Pontiac had $431,917,000 of loans outstanding in 2020. $295,064,000 of loans were in real estate loans. $11,094,000 of loans were in development loans. $7,725,000 of loans were in multifamily mortgage loans. $124,105,000 of loans were in 1-4 family mortgage loans. $33,981,000 of loans were in farm loans. $0 of loans were in credit card loans. $12,042,000 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 | 79 | $13,717 | $173,633 |
| Nonfarm, nonresidential loans - <$100k | 28 | $1,280 | $45,714 |
| Nonfarm, nonresidential loans - $100-250k | 31 | $3,478 | $112,194 |
| Nonfarm, nonresidential loans - $250k-1MM | 20 | $8,959 | $447,950 |
| Commercial & Industrial, US addressed loans - <$1MM | 696 | $34,598 | $49,710 |
| Commercial & Industrial, US addressed loans - <$100k | 575 | $12,528 | $21,788 |
| Commercial & Industrial, US addressed loans - $100-250k | 86 | $8,652 | $100,605 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 35 | $13,418 | $383,371 |
| Farmland loans - <$1MM | 230 | $36,418 | $158,339 |
| Farmland loans - <$100k | 53 | $2,725 | $51,415 |
| Farmland loans - $100-250k | 105 | $13,814 | $131,562 |
| Farmland loans - $250k-1MM | 72 | $19,879 | $276,097 |
| Agriculture operations loans - <$1MM | 293 | $21,977 | $75,007 |
| Agriculture operations loans - <$100k | 181 | $5,080 | $28,066 |
| Agriculture operations loans - $100-250k | 67 | $6,541 | $97,627 |
| Agriculture operations loans - $250k-1MM | 45 | $10,356 | $230,133 |