First National Bank Of Waterloo Mortgage Rates, Fees & Info

Waterloo, IL

LEI: 5493002GOGIUXB84JB89

Tax ID: 37-0573575

5 stars

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

Review & 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 by origination volume include: St. Louis, Effingham, Atlanta, North Port, and Kansas City among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

First National Bank Of Waterloo 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. First National Bank Of Waterloo 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.

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	6.50%	3/19/23
30 Year Conventional Refi	6.52%	3/19/23
30 Year Cash-out Refi	6.43%	3/19/23
15 Year Conventional Purchase	5.93%	3/19/23
15 Year Conventional Refi	5.89%	3/19/23
15 Year Cash-out Refi	5.89%	3/19/23
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.

Originations

622

Origination Dollar Volume (All Markets)

$138,110,000

Employee count

138

Awards

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 mortgage rate was 3.1%.

The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

This yields a difference of -0.05%.

Relative Fees (Closing Costs)

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

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

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
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.

Their top states include:

Illinois (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Georgia (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Tennessee (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against First National Bank of Waterloo based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Town & Country Bank
Similarity Rank: 328

Ozarks Federal Savings and Loan Association
Similarity Rank: 370

CapGrow Home Mortgage, LLC
Similarity Rank: 552

D.W. BROWN MORTGAGE CORP.
Similarity Rank: 627

JERSEY STATE BANK
Similarity Rank: 725

HNB National Bank
Similarity Rank: 910

First National Bank of Waterloo
Similarity Rank: 938

VANTAGE Credit Union
Similarity Rank: 1010

Providence Bank
Similarity Rank: 1102

U S WIDE FINANCIAL LLC
Similarity Rank: 1260

Product Mix

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

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

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. 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 2021, First National Bank Of Waterloo's most frequently cited loan purpose was Refi, with 250 originations. The 2nd most popular reason was 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 2021, First National Bank Of Waterloo's most frequently cited loan duration was 30 Year, with 230 originations. The 2nd most popular length was 15 Year, with 189 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	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

First National Bank Of Waterloo's average total fees were $1,625, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.10%, while their most frequently originated rate bucket for loans was 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
97.16%

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
90.51%

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