Ottawa Savings Bank Mortgage Rates, Fees & Info
Ottawa, ILLEI: 5493002OMAT2S3H4OF48
Tax ID: 36-1588740
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Mortgage Data
Bank Data
Review & Overview
Ottawa Savings Bank is a smaller bank specializing in Home Purchase loans. Ottawa Savings Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Chicago, Ottawa, Michigan City, Nashville, and Pontiac among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Ottawa Savings Bank 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.64% | 4/18/24 |
| 30 Year Conventional Refi | 6.70% | 4/18/24 |
| 30 Year Cash-out Refi | 6.71% | 4/18/24 |
| 30 Year VA Purchase | 6.27% | 4/18/24 |
| 15 Year Conventional Purchase | 6.29% | 4/18/24 |
| 15 Year Conventional Refi | 6.08% | 4/18/24 |
| 15 Year Cash-out Refi | 6.08% | 4/18/24 |
| 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. | ||
Ottawa Savings Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
321Origination Dollar Volume (All Markets)
$65,645,000Employee count
64Top 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 151 | $34,345,000 | $227,450 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 148 | $24,240,000 | $163,784 | $0 | 0.00% |
| MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) | 2 | $2,360,000 | $1,180,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $550,000 | $275,000 | $0 | 0.00% |
| Pontiac, IL (FHA|USDA|VA) | 4 | $500,000 | $125,000 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| PEORIA, IL (FHA|USDA|VA) | 4 | $400,000 | $100,000 | $0 | 0.00% |
| Dixon, IL (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $0 | 0.00% |
| NILES, MI (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| KANKAKEE, IL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Ottawa Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 75
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 312 | $64,160,000 | $205,641 | $0 | 0.00% |
| USDA | 9 | $1,485,000 | $165,000 | $0 | 0.00% |
For 2019, Ottawa Savings Bank's most frequently originated type of loan was Conventional, with 312 originations. Their 2nd most popular type was USDA, with 9 originations.
Loan Reason
For 2019, Ottawa Savings Bank's most frequently cited loan purpose was Home Purchase, with 218 originations. The 2nd most popular reason was Refi, with 56 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 321 | $65,645,000 | $204,502 | $0 | 0.00% |
For 2019, Ottawa Savings Bank's most frequently cited loan duration was Other, with 321 originations.
Loan Sizing
2019 saw Ottawa Savings Bank place emphasis on $100k-200k loans with 124 originations, totaling $18,110,000 in origination value.
Applicant Income
Ottawa Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 76 originations. The second most popular income band? $50k-75k, with 75 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 321 | $65,645,000 | $204,502 | $0 | 0.00% |
Ottawa Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 321 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.50%
Ottawa Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.54%
Ottawa Savings Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 321 | $65,645,000 | $204,502 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Ottawa Savings Bank | 125 West Bluff Street Marseilles, IL 61341 | Full Service B&M | $50,840 |
| Ottawa Savings Bank | 1508 Creek Drive Morris, IL 60450 | Full Service B&M | $36,602 |
| Ottawa Savings Bank | 925 La Salle St Ottawa, IL 61350 | Full Service B&M | $145,384 |
For 2019, Ottawa Savings Bank had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $13,084 |
| Net interest income | $9,918 |
| Total noninterest income | $1,640 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $203 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,437 |
| Pre-tax net operating income | $2,737 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $1,990 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,990 |
| Minority interest net income | $0 |
| Net income | $1,990 |
| Sale, conversion, retirement of capital stock, net | $296 |
| Net operating income | $1,990 |
Ottawa Savings Bank's gross interest income from loans was $13,084,000.
Ottawa Savings Bank's net interest income from loans was $9,918,000.
Ottawa Savings Bank's fee based income from loans was $203,000.
Ottawa Savings Bank's net income from loans was $1,990,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,166 |
| Provision for credit losses | $595 |
| Total noninterest expense | $8,226 |
| Salaries and employee benefits | $4,801 |
| Premises and equipment expense | $700 |
| Additional noninterest expense | $2,725 |
| Applicable income taxes | $747 |
| Net charge-offs | $285 |
| Cash dividends | $2,750 |
Ottawa Savings Bank's interest expense for loans was $3,166,000.
Ottawa Savings Bank's payroll and benefits expense were $4,801,000.
Ottawa Savings Bank's property, plant and equipment expenses $700,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 1.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 1.0% |
| 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 | $239,422 |
| Deposits held in domestic offices | $239,422 |
| Deposits by Individuals, partnerships, and corporations | $202,453 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $22,505 |
| Deposits by Commercial banks and other depository institutions in U.S. | $14,464 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $79,247 |
| Demand deposits | $78,341 |
| Nontransaction accounts | $160,175 |
| Money market deposit accounts (MMDAs) | $22,452 |
| Other savings deposits (excluding MMDAs) | $26,099 |
| Total time deposits | $111,623 |
| Total time and savings deposits | $161,081 |
| Noninterest-bearing deposits | $16,774 |
| Interest-bearing deposits | $222,648 |
| Retail deposits | $222,313 |
| IRAs and Keogh plan accounts | $14,311 |
| Brokered deposits | $6,533 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $300,300 |
| Cash & Balances due from depository institutions | $7,290 |
| Interest-bearing balances | $3,987 |
| Total securities | $24,516 |
| Federal funds sold & reverse repurchase | $4,185 |
| Net loans and leases | $249,001 |
| Loan and leases loss allowance | $2,938 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,518 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $1,355 |
| All other assets | $7,435 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $300,300 |
| Total Liabilities | $256,221 |
| Total deposits | $239,422 |
| Interest-bearing deposits | $222,648 |
| Deposits held in domestic offices | $239,422 |
| % insured (estimated) | $83 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $10,519 |
| Subordinated debt | $0 |
| All other liabilities | $6,280 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $249,001 |
| Loan and leases loss allowance | $2,938 |
| Total loans and leases (domestic) | $251,939 |
| All real estate loans | $192,910 |
| Real estate loans in domestic offices | $192,910 |
| Construction and development loans | $16,623 |
| Residential 1-4 family construction | $12,261 |
| Other construction, all land development and other land | $4,362 |
| Loans secured by nonfarm nonresidential properties | $25,029 |
| Nonfarm nonresidential secured by owner-occupied properties | $12,903 |
| Commercial real estate & other non-farm, non-residential | $12,126 |
| Multifamily residential real estate | $5,861 |
| 1-4 family residential loans | $144,108 |
| Farmland loans | $1,289 |
| Loans held in foreign offices | $0 |
| Farm loans | $1,636 |
| Commercial and industrial loans | $22,279 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $35,114 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $30,540 |
| Other loans to individuals | $4,574 |
| All other loans & leases | $0 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| 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 | $155 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Ottawa Savings Bank had $249,001,000 of loans outstanding in 2019. $192,910,000 of loans were in real estate loans. $16,623,000 of loans were in development loans. $5,861,000 of loans were in multifamily mortgage loans. $144,108,000 of loans were in 1-4 family mortgage loans. $1,636,000 of loans were in farm loans. $0 of loans were in credit card loans. $30,540,000 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 | 120 | $21,840 | $182,000 |
| Nonfarm, nonresidential loans - <$100k | 35 | $1,966 | $56,171 |
| Nonfarm, nonresidential loans - $100-250k | 49 | $5,780 | $117,959 |
| Nonfarm, nonresidential loans - $250k-1MM | 36 | $14,094 | $391,500 |
| Commercial & Industrial, US addressed loans - <$1MM | 165 | $8,504 | $51,539 |
| Commercial & Industrial, US addressed loans - <$100k | 124 | $3,833 | $30,911 |
| Commercial & Industrial, US addressed loans - $100-250k | 35 | $3,182 | $90,914 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 6 | $1,489 | $248,167 |
| Farmland loans - <$1MM | 4 | $674 | $168,500 |
| Farmland loans - <$100k | 1 | $15 | $15,000 |
| Farmland loans - $100-250k | 1 | $109 | $109,000 |
| Farmland loans - $250k-1MM | 2 | $550 | $275,000 |
| Agriculture operations loans - <$1MM | 8 | $1,020 | $127,500 |
| Agriculture operations loans - <$100k | 5 | $489 | $97,800 |
| Agriculture operations loans - $100-250k | 3 | $531 | $177,000 |