Illinois Bank & Trust Mortgage Rates, Fees & Info

Rockford, IL

LEI: 54930027CDXLJ58XBO36

Tax ID: 36-1060280

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Illinois Bank & Trust is a smaller bank specializing in Refi and Home Purchase loans. Illinois Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Rockford, Rochelle, Sterling, Austin, and Chicago among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Illinois Bank & Trust 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. Illinois Bank & Trust is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    65

    Origination Dollar Volume (All Markets)

    $7,735,000

    Employee count

    90

    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) 35 $5,195,000 $148,429 $966 5.61%
    Outside of Metro Areas 20 $1,610,000 $80,500 $664 5.11%
    Rochelle, IL (FHA|USDA|VA) 2 $410,000 $205,000 $2,148 4.44%
    Sterling, IL (FHA|USDA|VA) 4 $130,000 $32,500 $96 5.19%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $125,000 $125,000 $3,758 5.38%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $105,000 $105,000 $125 3.75%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $85,000 $85,000 $0 5.50%
    KANKAKEE, IL (FHA|USDA|VA) 1 $75,000 $75,000 $0 5.75%
    Illinois Bank & Trust's top markets include Rockford, Rochelle, Sterling, Austin, and Chicago among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 65 $7,735,000 $119,000 $917 5.36%

    For 2018, Illinois Bank & Trust's most frequently originated type of loan was Conventional, with 65 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 30 $2,740,000 $91,333 $221 5.13%
    Home Purchase 22 $4,400,000 $200,000 $3,117 5.17%
    Other 8 $310,000 $38,750 $391 6.68%
    Home Improvement 5 $285,000 $57,000 $192 5.50%

    For 2018, Illinois Bank & Trust's most frequently cited loan purpose was Refi, with 30 originations. The 2nd most popular reason was Home Purchase, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 18 $2,280,000 $126,667 $0 5.51%
    10 Year 14 $830,000 $59,286 $269 5.01%
    15 Year 12 $700,000 $58,333 $198 5.25%
    Other 9 $1,645,000 $182,778 $125 5.09%
    30 Year 8 $2,080,000 $260,000 $3,496 4.92%
    20 Year 3 $115,000 $38,333 $466 8.33%
    3 Year 1 $85,000 $85,000 $0 6.00%

    For 2018, Illinois Bank & Trust's most frequently cited loan duration was 5 Year, with 18 originations. The 2nd most popular length was 10 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 34 $3,090,000 $90,882
    $1k-2k 3 $285,000 $95,000
    $2k-3k 2 $470,000 $235,000

    Illinois Bank & Trust's average total fees were $3,496, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 34 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 23 $1,915,000 $83,261
    3-4% 17 $2,075,000 $122,059
    4-5% 13 $3,285,000 $252,692
    Over 8% 5 $145,000 $29,000
    6-7% 4 $230,000 $57,500
    7-8% 3 $85,000 $28,333

    During 2018, Illinois Bank & Trust's average interest rate for loans was 4.92%, while their most frequently originated rate bucket for loans was 5-6%, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 42 $2,250,000 $53,571 $352 5.76%
    $100k-200k 13 $1,645,000 $126,538 $1,970 4.90%
    $200k-400k 7 $1,925,000 $275,000 $4,171 4.21%
    $600k-1MM 2 $1,450,000 $725,000 $2,607 4.50%
    $400k-600k 1 $465,000 $465,000 $3,368 4.63%

    2018 saw Illinois Bank & Trust place emphasis on $100,000 or less loans with 42 originations, totaling $2,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 12 $430,000 $35,833 $250 6.18%
    $50k-75k 11 $695,000 $63,182 $246 5.51%
    $250k+ 9 $1,565,000 $173,889 $2,244 5.21%
    $150k-250k 7 $865,000 $123,571 $2,438 5.70%
    $100k-150k 6 $430,000 $71,667 $230 5.08%
    $75k-100k 3 $115,000 $38,333 $234 4.75%

    Illinois Bank & Trust lent most frequently to those with incomes in the $50k or less range, with 12 originations. The second most popular income band? $50k-75k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 13 $1,285,000 $98,846 $500 5.71%
    20-30% 12 $920,000 $76,667 $869 5.68%
    <20% 5 $435,000 $87,000 $778 4.55%
    40% 4 $190,000 $47,500 $125 4.19%
    41% 2 $150,000 $75,000 $472 6.13%
    37% 2 $110,000 $55,000 $245 4.46%
    44% 2 $170,000 $85,000 $4,486 7.00%
    50-60% 1 $315,000 $315,000 $4,171 4.88%
    36% 1 $15,000 $15,000 $0 11.70%
    38% 1 $65,000 $65,000 $0 5.25%
    42% 1 $55,000 $55,000 $3,484 5.75%

    Illinois Bank & Trust lent most frequently to those with DTI ratios of 30-36%, with 13 originations. The next most common DTI ratio? 20-30%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 37 $3,225,000 $87,162 $744 5.49%
    Not applicable 15 $3,075,000 $205,000 $0 4.87%
    Not provided 8 $1,050,000 $131,250 $1,741 5.36%
    Black 2 $170,000 $85,000 $1,993 6.69%
    Asian Indian 2 $140,000 $70,000 $183 5.38%
    Filipino 1 $75,000 $75,000 $125 5.25%

    Approval Rates

    Total approvals of all applications
    77.14%

    Illinois Bank & Trust has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    76.92%

    Illinois Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    80.0 1 $15,000 $15,000
    NA 64 $7,720,000 $120,625

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $1,490,000 $248,333
    Single Family (1-4 Units):Manufactured 1 $15,000 $15,000
    Single Family (1-4 Units):Site-Built 58 $6,230,000 $107,414

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $905,000 $53,235 $325 6.17%
    40-60% 11 $1,145,000 $104,091 $504 4.54%
    60-80% 23 $3,495,000 $151,957 $1,803 5.11%
    80-100% 7 $1,835,000 $262,143 $2,318 5.24%
    Under 20% 7 $355,000 $50,714 $245 5.64%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Illinois Bank & Trust 11655 U.S. 20 E. Stockton, IL 61085 Full Service B&M $34,024
    Illinois Bank & Trust 151 Main Street Elizabeth, IL 61028 Full Service B&M $30,553
    Illinois Bank & Trust 1515 West Lane Rd Machesney Park, IL 61115 Full Service B&M $16,865
    Illinois Bank & Trust 1609 1st Avenue Rock Falls, IL 61071 Full Service B&M $7,107
    Illinois Bank & Trust 2403 North Locust Street Sterling, IL 61081 Full Service B&M $12,293
    Illinois Bank & Trust 2625 Stowmarket Avenue Rockford, IL 61109 Full Service B&M $28,162
    Illinois Bank & Trust 400 South Main Street Galena, IL 61036 Limited, Drive-thru $8,727
    Illinois Bank & Trust 4048 East State Street Rockford, IL 61108 Full Service B&M $42,569
    Illinois Bank & Trust 6855 East Riverside Boulevard Rockford, IL 61114 Full Service B&M $393,822
    Illinois Bank & Trust 971 Gear Street Galena, IL 61036 Limited, Mobile/Seasonal Office $0
    Illinois Bank & Trust 971 Gear Street Galena, IL 61036 Full Service B&M $178,901

    For 2018, Illinois Bank & Trust had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $28,518
    Net interest income $26,239
    Total noninterest income $7,571
    Gross Fiduciary activities income $619
    Service charges on deposit accounts $1,928
    Trading account gains and fees $0
    Additional Noninterest Income $5,024
    Pre-tax net operating income $11,596
    Securities gains (or losses, -) $334
    Income before extraordinary items $9,732
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,732
    Minority interest net income $0
    Net income $9,732
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,458

    Illinois Bank & Trust's gross interest income from loans was $28,518,000.
    Illinois Bank & Trust's net interest income from loans was $26,239,000.
    Illinois Bank & Trust's fee based income from loans was $1,928,000.
    Illinois Bank & Trust's net income from loans was $9,732,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,279
    Provision for credit losses $-84
    Total noninterest expense $22,298
    Salaries and employee benefits $7,058
    Premises and equipment expense $2,015
    Additional noninterest expense $13,225
    Applicable income taxes $2,198
    Net charge-offs $560
    Cash dividends $6,000

    Illinois Bank & Trust's interest expense for loans was $2,279,000.
    Illinois Bank & Trust's payroll and benefits expense were $7,058,000.
    Illinois Bank & Trust's property, plant and equipment expenses $2,015,000.

    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 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 $715,482
    Deposits held in domestic offices $715,482
    Deposits by Individuals, partnerships, and corporations $665,732
    Deposits by U.S. Government $5
    Deposits by States and political subdivisions in the U.S. $49,745
    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 $172,934
    Demand deposits $117,009
    Nontransaction accounts $542,548
    Money market deposit accounts (MMDAs) $407,007
    Other savings deposits (excluding MMDAs) $79,479
    Total time deposits $56,062
    Total time and savings deposits $598,473
    Noninterest-bearing deposits $255,321
    Interest-bearing deposits $460,161
    Retail deposits $704,163
    IRAs and Keogh plan accounts $19,127
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $804,907
    Cash & Balances due from depository institutions $18,385
    Interest-bearing balances $4,166
    Total securities $279,991
    Federal funds sold & reverse repurchase $0
    Net loans and leases $473,432
    Loan and leases loss allowance $4,184
    Trading account assets $25
    Bank premises and fixed assets $12,927
    Other real estate owned $196
    Goodwill and other intangibles $292
    All other assets $19,659

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $804,907
    Total Liabilities $739,144
    Total deposits $715,482
    Interest-bearing deposits $460,161
    Deposits held in domestic offices $715,482
    % insured (estimated) $58
    Federal funds purchased and repurchase agreements $18,175
    Trading liabilities $25
    Other borrowed funds $762
    Subordinated debt $0
    All other liabilities $4,700

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $473,432
    Loan and leases loss allowance $4,184
    Total loans and leases (domestic) $477,616
    All real estate loans $268,794
    Real estate loans in domestic offices $268,794
    Construction and development loans $34,965
    Residential 1-4 family construction $2,511
    Other construction, all land development and other land $32,454
    Loans secured by nonfarm nonresidential properties $141,617
    Nonfarm nonresidential secured by owner-occupied properties $79,157
    Commercial real estate & other non-farm, non-residential $62,460
    Multifamily residential real estate $17,097
    1-4 family residential loans $64,202
    Farmland loans $10,913
    Loans held in foreign offices $0
    Farm loans $3,235
    Commercial and industrial loans $125,200
    To non-U.S. addressees $0
    Loans to individuals $14,711
    Credit card loans $409
    Related Plans $6,133
    Consumer Auto Loans $5,441
    Other loans to individuals $2,728
    All other loans & leases $65,807
    Loans to foreign governments and official institutions $0
    Other loans $172
    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 $70
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Illinois Bank & Trust had $473,432,000 of loans outstanding in 2018. $268,794,000 of loans were in real estate loans. $34,965,000 of loans were in development loans. $17,097,000 of loans were in multifamily mortgage loans. $64,202,000 of loans were in 1-4 family mortgage loans. $3,235,000 of loans were in farm loans. $409,000 of loans were in credit card loans. $5,441,000 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 198 $38,485 $194,369
    Nonfarm, nonresidential loans - <$100k 44 $1,509 $34,295
    Nonfarm, nonresidential loans - $100-250k 67 $7,486 $111,731
    Nonfarm, nonresidential loans - $250k-1MM 87 $29,490 $338,966
    Commercial & Industrial, US addressed loans - <$1MM 452 $33,541 $74,206
    Commercial & Industrial, US addressed loans - <$100k 244 $2,782 $11,402
    Commercial & Industrial, US addressed loans - $100-250k 81 $5,759 $71,099
    Commercial & Industrial, US addressed loans - $250k-1MM 127 $25,000 $196,850
    Farmland loans - <$1MM 49 $6,377 $130,143
    Farmland loans - <$100k 10 $458 $45,800
    Farmland loans - $100-250k 28 $3,648 $130,286
    Farmland loans - $250k-1MM 11 $2,271 $206,455
    Agriculture operations loans - <$1MM 99 $3,235 $32,677
    Agriculture operations loans - <$100k 84 $1,457 $17,345
    Agriculture operations loans - $100-250k 11 $812 $73,818
    Agriculture operations loans - $250k-1MM 4 $966 $241,500