First National Bank Of Waterloo Mortgage Rates, Fees & Info

Waterloo, IL

LEI: 5493002GOGIUXB84JB89

Tax ID: 37-0573575

5 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First National Bank Of Waterloo is a smaller bank specializing in Refi and Home Purchase loans. First National Bank Of Waterloo has a high proportion of conventional loans. Their top markets include St. Louis, Effingham, Atlanta, North Port, and Kansas City among others. First National Bank Of Waterloo has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First National Bank Of Waterloo is typically a low fee lendor.


Originations

622

Origination Dollar Volume (All Markets)

$138,110,000

Employee count

138

Awards

First National Bank of Waterloo 30 Year Conventional Loans gold First National Bank of Waterloo 30 Year Conventional Loans gold First National Bank of Waterloo 30 Year Conventional Loans gold
Show all (3) awards

Relative Rate

First National Bank Of Waterloo's average 30 year fixed rate mortgage of loans were 3.1%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.05%.

Relative Fees

First National Bank Of Waterloo's average total fees for a 30 year fixed rate mortgage are $1,625.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ST. LOUIS, MO-IL (FHA|USDA|VA) 553 $123,815,000 $223,897 $1,415 3.02%
Outside of Metro Areas 35 $5,725,000 $163,571 $1,669 2.97%
Effingham, IL (FHA|USDA|VA) 20 $5,690,000 $284,500 $1,667 3.01%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $715,000 $715,000 $3,289 3.13%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $365,000 $365,000 $0 3.63%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $335,000 $335,000 $1,815 2.25%
Centralia, IL (FHA|USDA|VA) 2 $320,000 $160,000 $0 4.15%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $225,000 $225,000 $2,941 3.25%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $205,000 $205,000 $2,374 3.13%
LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 1 $195,000 $195,000 $1,536 3.13%
JACKSON, TN (FHA|USDA|VA) 1 $165,000 $165,000 $1,557 2.13%
Charleston-Mattoon, IL (FHA|USDA|VA) 3 $145,000 $48,333 $1,576 3.42%
Branson, MO (FHA|USDA|VA) 1 $105,000 $105,000 $2,225 2.75%
Martin, TN (FHA|USDA|VA) 1 $105,000 $105,000 $1,568 2.88%

First National Bank Of Waterloo's top markets include St. Louis, Effingham, Atlanta, North Port, and Kansas City among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 622 $138,110,000 $222,042 $1,454 3.02%

For the 2021 period, First National Bank Of Waterloo's most frequently originated loan type of loans were Conventional, with 622 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 250 $53,980,000 $215,920 $1,260 2.89%
Home Purchase 217 $50,725,000 $233,756 $1,744 3.26%
Cash Out Refi 137 $24,495,000 $178,796 $1,458 2.83%
Home Improvement 12 $8,140,000 $678,333 $894 3.77%
Other 6 $770,000 $128,333 $1,317 3.17%

For the 2021, First National Bank Of Waterloo's most frequently cited loan purpose of loans were Refi, with 250 originations. The 2nd most popular reason of loans were Home Purchase, with 217 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 230 $48,340,000 $210,174 $1,625 3.10%
15 Year 189 $30,105,000 $159,286 $1,332 2.58%
20 Year 76 $12,450,000 $163,816 $1,321 3.35%
Other 64 $15,720,000 $245,625 $1,304 3.20%
5 Year 43 $28,665,000 $666,628 $2,059 3.84%
10 Year 19 $2,605,000 $137,105 $1,162 2.70%
1 Year 1 $225,000 $225,000 $0 4.00%

For the 2021, First National Bank Of Waterloo's most frequently cited loan length of loans were 30 Year, with 230 originations. The 2nd most popular length of loans were 15 Year, with 189 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 465 $89,035,000 $191,473
$1k-2k 11 $2,355,000 $214,091
$3k-4k 2 $510,000 $255,000
$2k-3k 1 $205,000 $205,000

$1,625 of loans were First National Bank Of Waterloo's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 465 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 206 $41,080,000 $199,417
3-4% 201 $64,455,000 $320,672
<2.5% 165 $26,745,000 $162,091
4-5% 50 $5,830,000 $116,600

During 2021, First National Bank Of Waterloo's average interest rate of loans were 3.10%, while their most frequently originated rate bucket of loans were 2.5-3%, with 206 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 273 $39,565,000 $144,927 $1,418 2.94%
$200k-400k 159 $42,555,000 $267,642 $1,578 2.95%
$100,000 or less 142 $9,510,000 $66,972 $1,247 3.19%
$400k-600k 29 $13,715,000 $472,931 $1,523 3.13%
$600k-1MM 10 $7,640,000 $764,000 $2,350 3.28%
$1MM+ 9 $25,125,000 $2,791,667 $0 3.59%

2021 saw First National Bank Of Waterloo place emphasis on $100k-200k loans with 273 originations, totaling $39,565,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 124 $25,000,000 $201,613 $1,428 2.95%
$50k-75k 124 $17,650,000 $142,339 $1,484 2.87%
$75k-100k 102 $16,590,000 $162,647 $1,476 2.81%
$150k-250k 85 $22,765,000 $267,824 $1,488 2.86%
$50k or less 71 $7,225,000 $101,761 $1,437 2.93%
$250k+ 18 $7,050,000 $391,667 $1,555 3.04%

First National Bank Of Waterloo lent most frequently to those with incomes in the $100k-150k range, with 124 originations. The second most popular income band? $50k-75k, with 124 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 150 $27,440,000 $182,933 $1,412 2.85%
30-36% 106 $19,410,000 $183,113 $1,416 2.90%
<20% 77 $13,895,000 $180,455 $1,437 2.72%
38% 24 $3,780,000 $157,500 $1,674 3.05%
39% 23 $4,195,000 $182,391 $1,617 2.96%
36% 21 $4,085,000 $194,524 $1,383 3.02%
41% 20 $3,690,000 $184,500 $1,313 2.63%
37% 17 $3,645,000 $214,412 $1,602 3.06%
40% 15 $2,835,000 $189,000 $1,654 2.97%
43% 14 $2,890,000 $206,429 $1,482 2.79%
42% 13 $2,235,000 $171,923 $1,654 2.81%
44% 10 $1,600,000 $160,000 $1,474 2.81%
47% 9 $2,025,000 $225,000 $1,266 2.61%
49% 8 $2,190,000 $273,750 $1,622 3.08%
45% 7 $1,285,000 $183,571 $1,361 2.84%
48% 6 $1,090,000 $181,667 $1,287 2.79%
46% 4 $790,000 $197,500 $1,476 3.25%
50-60% 1 $265,000 $265,000 $1,417 3.00%
>60% 1 $15,000 $15,000 $1,173 2.88%

First National Bank Of Waterloo lent most frequently to those with DTI ratios of 20-30%, with 150 originations. The next most common DTI ratio? 30-36%, with 106 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 519 $94,445,000 $181,975 $1,444 2.88%
Not applicable 87 $39,845,000 $457,989 $0 3.88%
Not provided 9 $2,365,000 $262,778 $1,788 2.83%
Asian 4 $1,070,000 $267,500 $1,762 3.03%
Black 3 $385,000 $128,333 $1,675 3.25%

Approval Rates

Total approvals of all applications
97.22%

First National Bank Of Waterloo 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
88.28%

First National Bank Of Waterloo has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 622 $138,110,000 $222,042

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
622 $138,110,000 $222,042

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 54 $9,170,000 $169,815 $1,222 2.74%
40-60% 117 $22,065,000 $188,590 $1,275 2.68%
60-80% 292 $69,550,000 $238,185 $1,466 3.13%
80-100% 145 $36,615,000 $252,517 $1,759 3.18%
Under 20% 14 $710,000 $50,714 $971 3.25%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST NATIONAL BANK OF OMAHA Other type of mortgage Struggling to pay mortgage 1 25.0%
FIRST NATIONAL BANK OF OMAHA FHA mortgage Improper use of your report 1 25.0%
FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Trouble during payment process 1 25.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
First National Bank of Waterloo 100 East Clay Street Collinsville, IL 62234 Full Service B&M $56,657
First National Bank of Waterloo 104 Regency Park Drive O Fallon, IL 62269 Full Service B&M $18,386
First National Bank of Waterloo 107 North Second Street Dupo, IL 62239 Full Service B&M $46,132
First National Bank of Waterloo 110 E Main St Stewardson, IL 62463 Full Service B&M $33,987
First National Bank of Waterloo 1421 North Main Street Columbia, IL 62236 Full Service B&M $122,682
First National Bank of Waterloo 210 East Fayette Avenue Effingham, IL 62401 Full Service B&M $18,765
First National Bank of Waterloo 2110 N. Center Street Maryville, IL 62062 Full Service B&M $43,108
First National Bank of Waterloo 228 S Main St Waterloo, IL 62298 Full Service B&M $195,689
First National Bank of Waterloo 4053 State Route 159 Smithton, IL 62285 Full Service B&M $12,118
First National Bank of Waterloo 645 East Washington Street Millstadt, IL 62260 Full Service B&M $69,353
First National Bank of Waterloo 744 North Market Waterloo, IL 62298 Full Service B&M $65,526
First National Bank of Waterloo 961 North Market Street Waterloo, IL 62298 Full Service Retail $14,247

For 2021, First National Bank Of Waterloo had 12 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $22,201
Net interest income $19,114
Total noninterest income $5,628
Gross Fiduciary activities income $0
Service charges on deposit accounts $530
Trading account gains and fees $0
Additional Noninterest Income $5,098
Pre-tax net operating income $6,150
Securities gains (or losses, -) $371
Income before extraordinary items $5,143
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $5,143
Minority interest net income $0
Net income $5,143
Sale, conversion, retirement of capital stock, net $0
Net operating income $4,849

First National Bank Of Waterloo's gross interest income from loans was $22,201,000.
First National Bank Of Waterloo's net interest income from loans was $19,114,000.
First National Bank Of Waterloo's fee based income from loans was $530,000.
First National Bank Of Waterloo's net income from loans was $5,143,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,087
Provision for credit losses $1,047
Total noninterest expense $17,545
Salaries and employee benefits $11,074
Premises and equipment expense $1,866
Additional noninterest expense $4,605
Applicable income taxes $1,378
Net charge-offs $93
Cash dividends $1,000

First National Bank Of Waterloo's interest expense for loans was $3,087,000.
First National Bank Of Waterloo's payroll and benefits expense were $11,074,000.
First National Bank Of Waterloo's property, plant and equipment expenses $1,866,000.

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 0.0%
HELOC loans 0.0%
All other family 0.0%
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 $701,296
Deposits held in domestic offices $701,296
Deposits by Individuals, partnerships, and corporations $609,638
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $91,658
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 $269,011
Demand deposits $119,610
Nontransaction accounts $432,285
Money market deposit accounts (MMDAs) $119,901
Other savings deposits (excluding MMDAs) $160,295
Total time deposits $152,090
Total time and savings deposits $581,686
Noninterest-bearing deposits $127,240
Interest-bearing deposits $574,056
Retail deposits $682,978
IRAs and Keogh plan accounts $44,487
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $820,391
Cash & Balances due from depository institutions $30,257
Interest-bearing balances $22,921
Total securities $302,971
Federal funds sold & reverse repurchase $41,102
Net loans and leases $405,473
Loan and leases loss allowance $5,234
Trading account assets $0
Bank premises and fixed assets $11,077
Other real estate owned $1,181
Goodwill and other intangibles $4,988
All other assets $23,342

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $820,391
Total Liabilities $749,378
Total deposits $701,296
Interest-bearing deposits $574,056
Deposits held in domestic offices $701,296
% insured (estimated) $79
Federal funds purchased and repurchase agreements $39,628
Trading liabilities $0
Other borrowed funds $5,000
Subordinated debt $0
All other liabilities $3,454

Issued Loan Types

Type Value (in 000's)
Net loans and leases $405,473
Loan and leases loss allowance $5,234
Total loans and leases (domestic) $410,707
All real estate loans $357,908
Real estate loans in domestic offices $357,908
Construction and development loans $39,434
Residential 1-4 family construction $12,592
Other construction, all land development and other land $26,842
Loans secured by nonfarm nonresidential properties $132,039
Nonfarm nonresidential secured by owner-occupied properties $49,883
Commercial real estate & other non-farm, non-residential $82,156
Multifamily residential real estate $44,375
1-4 family residential loans $126,041
Farmland loans $16,019
Loans held in foreign offices $0
Farm loans $4,814
Commercial and industrial loans $36,666
To non-U.S. addressees $0
Loans to individuals $2,845
Credit card loans $6
Related Plans $60
Consumer Auto Loans $470
Other loans to individuals $2,309
All other loans & leases $8,779
Loans to foreign governments and official institutions $0
Other loans $1,745
Loans to depository institutions and acceptances of other banks $6,129
Loans not secured by real estate $584
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $2,457
Non 1-4 family restructured loans & leases $1,108
Total loans and leases (foreign) $0

First National Bank of Waterloo had $405,473,000 of loans outstanding in 2021. $357,908,000 of loans were in real estate loans. $39,434,000 of loans were in development loans. $44,375,000 of loans were in multifamily mortgage loans. $126,041,000 of loans were in 1-4 family mortgage loans. $4,814,000 of loans were in farm loans. $6,000 of loans were in credit card loans. $470,000 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 $38,590 $220,514
Nonfarm, nonresidential loans - <$100k 35 $1,765 $50,429
Nonfarm, nonresidential loans - $100-250k 57 $7,315 $128,333
Nonfarm, nonresidential loans - $250k-1MM 83 $29,510 $355,542
Commercial & Industrial, US addressed loans - <$1MM 369 $29,629 $80,295
Commercial & Industrial, US addressed loans - <$100k 269 $6,942 $25,807
Commercial & Industrial, US addressed loans - $100-250k 56 $6,290 $112,321
Commercial & Industrial, US addressed loans - $250k-1MM 44 $16,397 $372,659
Farmland loans - <$1MM 44 $5,616 $127,636
Farmland loans - <$100k 19 $726 $38,211
Farmland loans - $100-250k 15 $2,187 $145,800
Farmland loans - $250k-1MM 10 $2,703 $270,300
Agriculture operations loans - <$1MM 20 $617 $30,850
Agriculture operations loans - <$100k 15 $331 $22,067
Agriculture operations loans - $100-250k 4 $240 $60,000
Agriculture operations loans - $250k-1MM 1 $46 $46,000