First National Bank Of Waterloo Mortgage Rates, Fees & Info

Waterloo, IL

LEI: 5493002GOGIUXB84JB89

Tax ID: 37-0573575

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

Review & Overview

First National Bank Of Waterloo is a smaller bank specializing in Home Purchase and Refi loans. First National Bank Of Waterloo has a high proportion of conventional loans. First National Bank Of Waterloo has a low ratio of conventional loans. Their top markets by origination volume include: St. Louis, Effingham, Atlanta, Daphne, and Jackson among others. We have data for 10 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 a below 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.43%	12/16/24
30 Year Conventional Refi	6.38%	12/16/24
30 Year Cash-out Refi	6.67%	12/16/24
15 Year Conventional Purchase	5.75%	12/16/24
15 Year Conventional Refi	5.69%	12/16/24
15 Year Cash-out Refi	5.69%	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.

First National Bank Of Waterloo Mortgage Calculator

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The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

314

Origination Dollar Volume (All Markets)

$49,480,000

Employee count

101

Awards

First National Bank of Waterloo 30 Year Conventional Loans gold

First National Bank of Waterloo 30 Year Conventional Loans silver

Show all (4) awards

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)	259	$43,475,000	$167,857	$1,239	4.43%
Outside of Metro Areas	28	$2,420,000	$86,429	$1,338	4.30%
Effingham, IL (FHA\|USDA\|VA)	18	$2,060,000	$114,444	$1,301	4.32%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	1	$345,000	$345,000	$0	0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA\|USDA\|VA)	1	$335,000	$335,000	$1,663	4.63%
JACKSON, TN (FHA\|USDA\|VA)	1	$195,000	$195,000	$2,004	4.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$195,000	$195,000	$2,780	4.63%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$165,000	$165,000	$1,781	4.38%
Charleston-Mattoon, IL (FHA\|USDA\|VA)	3	$165,000	$55,000	$972	4.54%
OCALA, FL (FHA\|USDA\|VA)	1	$125,000	$125,000	$2,393	0.00%

First National Bank Of Waterloo's top markets include St. Louis, Effingham, Atlanta, Daphne, and Jackson among others.

Their top states include:

Illinois (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Georgia (FHA|USDA|VA)

Alabama (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.

Petefish, Skiles & Co.
Similarity Rank: 51

Ozarks Federal Savings and Loan Association
Similarity Rank: 100

Community Bank of Trenton
Similarity Rank: 108

First National Bank of Waterloo
Similarity Rank: 200

RELIANCE BANK
Similarity Rank: 238

CapGrow Home Mortgage, LLC
Similarity Rank: 272

JERSEY STATE BANK
Similarity Rank: 354

Farmers and Merchants Bank of St. Clair
Similarity Rank: 408

United Bank of Union
Similarity Rank: 415

HNB National Bank
Similarity Rank: 576

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	313	$49,365,000	$157,716	$1,270	4.42%
Conventional	1	$115,000	$115,000	$0	0.00%

For 2018, First National Bank Of Waterloo's most frequently originated type of loan was Conventional, with 313 originations. Their 2nd most popular type was Conventional, with 1 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	173	$29,015,000	$167,717	$1,431	4.45%
Refi	82	$10,720,000	$130,732	$1,071	4.34%
Cash Out Refi	34	$4,350,000	$127,941	$1,117	4.52%
Other	13	$835,000	$64,231	$993	4.20%
Home Improvement	12	$4,560,000	$380,000	$1,153	4.44%

For 2018, First National Bank Of Waterloo's most frequently cited loan purpose was Home Purchase, with 173 originations. The 2nd most popular reason was Refi, with 82 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	136	$23,120,000	$170,000	$1,230	4.55%
30 Year	70	$12,430,000	$177,571	$1,377	4.49%
15 Year	49	$6,275,000	$128,061	$1,291	4.21%
20 Year	32	$5,510,000	$172,188	$1,363	4.54%
10 Year	19	$1,225,000	$64,474	$1,010	3.99%
5 Year	6	$470,000	$78,333	$759	4.94%
1 Year	1	$375,000	$375,000	$0	0.00%
3 Year	1	$75,000	$75,000	$1,248	3.50%

For 2018, First National Bank Of Waterloo's most frequently cited loan duration was Other, with 136 originations. The 2nd most popular length was 30 Year, with 70 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	189	$27,275,000	$144,312
$1k-2k	2	$600,000	$300,000

First National Bank Of Waterloo's average total fees were $1,377, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 189 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	150	$23,550,000	$157,000
3-4%	60	$11,760,000	$196,000
5-6%	15	$1,315,000	$87,667

During 2018, First National Bank Of Waterloo's average interest rate for loans was 4.49%, while their most frequently originated rate bucket for loans was 4-5%, with 150 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	127	$18,505,000	$145,709	$1,385	4.47%
$100,000 or less	120	$6,890,000	$57,417	$1,172	4.36%
$200k-400k	52	$13,810,000	$265,577	$1,187	4.47%
$400k-600k	12	$5,270,000	$439,167	$1,278	4.29%
$600k-1MM	2	$1,500,000	$750,000	$0	3.95%
$1MM+	1	$3,505,000	$3,505,000	$0	3.90%

2018 saw First National Bank Of Waterloo place emphasis on $100k-200k loans with 127 originations, totaling $18,505,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	72	$8,950,000	$124,306	$1,435	4.51%
$75k-100k	57	$7,045,000	$123,596	$1,150	4.35%
$100k-150k	56	$10,460,000	$186,786	$1,384	4.48%
$50k or less	54	$4,000,000	$74,074	$1,276	4.28%
$150k-250k	31	$7,065,000	$227,903	$1,032	4.50%
$250k+	8	$2,330,000	$291,250	$1,401	4.36%

First National Bank Of Waterloo lent most frequently to those with incomes in the $50k-75k range, with 72 originations. The second most popular income band? $75k-100k, with 57 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	44	$4,970,000	$112,955	$1,185	4.24%
30-36%	32	$4,490,000	$140,313	$1,294	4.36%
<20%	15	$2,125,000	$141,667	$1,350	4.15%
37%	9	$1,905,000	$211,667	$908	4.42%
42%	8	$1,640,000	$205,000	$1,614	4.36%
43%	8	$1,190,000	$148,750	$1,453	4.47%
36%	6	$650,000	$108,333	$1,469	4.58%
39%	6	$690,000	$115,000	$1,484	4.60%
41%	5	$875,000	$175,000	$1,319	4.30%
38%	5	$725,000	$145,000	$1,476	4.23%
40%	5	$655,000	$131,000	$1,088	4.65%
47%	5	$625,000	$125,000	$1,625	4.63%
49%	4	$430,000	$107,500	$904	4.56%
46%	4	$700,000	$175,000	$712	4.47%
44%	3	$535,000	$178,333	$1,608	4.25%
45%	2	$300,000	$150,000	$1,538	4.81%
>60%	2	$150,000	$75,000	$1,133	4.25%
Exempt%	1	$115,000	$115,000	$0	0.00%
50-60%	1	$55,000	$55,000	$1,162	3.75%

First National Bank Of Waterloo lent most frequently to those with DTI ratios of 20-30%, with 44 originations. The next most common DTI ratio? 30-36%, with 32 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	285	$41,145,000	$144,368	$1,270	4.41%
Not applicable	27	$8,135,000	$301,296	$0	4.47%
Not provided	1	$145,000	$145,000	$0	4.50%
Black	1	$55,000	$55,000	$1,253	4.13%

Approval Rates

Total approvals of all applications
94.30%

First National Bank Of Waterloo has an average approval rate.

Pick Rate

Approvals leading to origination
84.08%

First National Bank Of Waterloo has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	1	$115,000	$115,000
NA	313	$49,365,000	$157,716

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	8	$6,310,000	$788,750
Single Family (1-4 Units):Manufactured	13	$775,000	$59,615
Single Family (1-4 Units):Site-Built	293	$42,395,000	$144,693

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	22	$1,840,000	$83,636	$1,221	3.96%
40-60%	27	$3,045,000	$112,778	$1,129	4.11%
60-80%	105	$18,855,000	$179,571	$1,304	4.43%
80-100%	56	$7,950,000	$141,964	$1,501	4.52%
Over 100%	1	$115,000	$115,000	$0	5.50%
Under 20%	11	$375,000	$34,091	$767	4.51%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	Home equity loan or line of credit (HELOC)	Closing on a mortgage	1	50.0%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	1	50.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First National Bank of Waterloo	104 Regency Park Drive O Fallon, IL 62269	Full Service B&M	$7,028
First National Bank of Waterloo	107 North Second Street Dupo, IL 62239	Full Service B&M	$5,950
First National Bank of Waterloo	110 East Main Street Stewardson, IL 62463	Full Service B&M	$27,269
First National Bank of Waterloo	1421 North Main Street Columbia, IL 62236	Full Service B&M	$74,944
First National Bank of Waterloo	210 East Fayette Avenue Effingham, IL 62401	Full Service B&M	$10,459
First National Bank of Waterloo	228 South Main Street Waterloo, IL 62298	Full Service B&M	$158,535
First National Bank of Waterloo	645 East Washington Street Millstadt, IL 62260	Full Service B&M	$51,301
First National Bank of Waterloo	744 North Market Waterloo, IL 62298	Full Service B&M	$50,341
First National Bank of Waterloo	907 East Us 50 O Fallon, IL 62269	Full Service B&M	$3,020
First National Bank of Waterloo	961 North Market Street Waterloo, IL 62298	Full Service Retail	$12,095

For 2018, First National Bank Of Waterloo had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,220
Net interest income	$13,711
Total noninterest income	$3,008
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$684
Trading account gains and fees	$0
Additional Noninterest Income	$2,324
Pre-tax net operating income	$3,200
Securities gains (or losses, -)	$92
Income before extraordinary items	$2,809
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,809
Minority interest net income	$0
Net income	$2,809
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$2,730

First National Bank Of Waterloo's gross interest income from loans was $16,220,000.
First National Bank Of Waterloo's net interest income from loans was $13,711,000.
First National Bank Of Waterloo's fee based income from loans was $684,000.
First National Bank Of Waterloo's net income from loans was $2,809,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,509
Provision for credit losses	$460
Total noninterest expense	$13,059
Salaries and employee benefits	$7,710
Premises and equipment expense	$1,379
Additional noninterest expense	$3,970
Applicable income taxes	$483
Net charge-offs	$81
Cash dividends	$800

First National Bank Of Waterloo's interest expense for loans was $2,509,000.
First National Bank Of Waterloo's payroll and benefits expense were $7,710,000.
First National Bank Of Waterloo's property, plant and equipment expenses $1,379,000.

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	1.0%
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	$406,282
Deposits held in domestic offices	$406,282
Deposits by Individuals, partnerships, and corporations	$367,683
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$38,499
Deposits by Commercial banks and other depository institutions in U.S.	$100
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$167,143
Demand deposits	$70,976
Nontransaction accounts	$239,139
Money market deposit accounts (MMDAs)	$33,120
Other savings deposits (excluding MMDAs)	$98,979
Total time deposits	$107,040
Total time and savings deposits	$335,306
Noninterest-bearing deposits	$70,975
Interest-bearing deposits	$335,307
Retail deposits	$399,194
IRAs and Keogh plan accounts	$28,791
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$474,651
Cash & Balances due from depository institutions	$18,680
Interest-bearing balances	$8,337
Total securities	$173,398
Federal funds sold & reverse repurchase	$1,051
Net loans and leases	$257,464
Loan and leases loss allowance	$3,112
Trading account assets	$0
Bank premises and fixed assets	$7,176
Other real estate owned	$1,426
Goodwill and other intangibles	$3,634
All other assets	$11,822

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$474,651
Total Liabilities	$423,598
Total deposits	$406,282
Interest-bearing deposits	$335,307
Deposits held in domestic offices	$406,282
% insured (estimated)	$88
Federal funds purchased and repurchase agreements	$16,565
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$751

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$257,464
Loan and leases loss allowance	$3,112
Total loans and leases (domestic)	$260,576
All real estate loans	$228,568
Real estate loans in domestic offices	$228,568
Construction and development loans	$26,688
Residential 1-4 family construction	$8,755
Other construction, all land development and other land	$17,933
Loans secured by nonfarm nonresidential properties	$82,057
Nonfarm nonresidential secured by owner-occupied properties	$45,095
Commercial real estate & other non-farm, non-residential	$36,962
Multifamily residential real estate	$12,245
1-4 family residential loans	$89,001
Farmland loans	$18,577
Loans held in foreign offices	$0
Farm loans	$1,443
Commercial and industrial loans	$20,434
To non-U.S. addressees	$0
Loans to individuals	$4,284
Credit card loans	$0
Related Plans	$40
Consumer Auto Loans	$549
Other loans to individuals	$3,695
All other loans & leases	$5,921
Loans to foreign governments and official institutions	$0
Other loans	$3,823
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$2,775
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$1,947
Non 1-4 family restructured loans & leases	$826
Total loans and leases (foreign)	$0

First National Bank of Waterloo had $257,464,000 of loans outstanding in 2018. $228,568,000 of loans were in real estate loans. $26,688,000 of loans were in development loans. $12,245,000 of loans were in multifamily mortgage loans. $89,001,000 of loans were in 1-4 family mortgage loans. $1,443,000 of loans were in farm loans. $0 of loans were in credit card loans. $549,000 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	144	$30,519	$211,938
Nonfarm, nonresidential loans - <$100k	34	$1,482	$43,588
Nonfarm, nonresidential loans - $100-250k	41	$4,868	$118,732
Nonfarm, nonresidential loans - $250k-1MM	69	$24,169	$350,275
Commercial & Industrial, US addressed loans - <$1MM	213	$16,425	$77,113
Commercial & Industrial, US addressed loans - <$100k	158	$3,694	$23,380
Commercial & Industrial, US addressed loans - $100-250k	35	$4,664	$133,257
Commercial & Industrial, US addressed loans - $250k-1MM	20	$8,067	$403,350
Farmland loans - <$1MM	56	$7,438	$132,821
Farmland loans - <$100k	24	$1,102	$45,917
Farmland loans - $100-250k	15	$1,697	$113,133
Farmland loans - $250k-1MM	17	$4,639	$272,882
Agriculture operations loans - <$1MM	27	$1,443	$53,444
Agriculture operations loans - <$100k	19	$374	$19,684
Agriculture operations loans - $100-250k	7	$811	$115,857
Agriculture operations loans - $250k-1MM	1	$258	$258,000