State Bank Oftoulon Mortgage Rates, Fees & Info

Kewanee, IL

LEI: 5493005OG185XV8M8N52

Tax ID: 36-1818500

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Mortgage Data

Review & Overview

State Bank Oftoulon is a smaller bank specializing in Home Purchase and Refi loans. State Bank Oftoulon has a high proportion of conventional loans. Their top markets by origination volume include: Davenport, Peoria, and Ottawa among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

State Bank Oftoulon 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.

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Originations

62

Origination Dollar Volume (All Markets)

$3,370,000

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
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 38 $1,730,000 $45,526 $0 0.00%
PEORIA, IL (FHA|USDA|VA) 20 $1,200,000 $60,000 $0 0.00%
Outside of Metro Areas 2 $320,000 $160,000 $0 0.00%
Ottawa, IL (FHA|USDA|VA) 2 $120,000 $60,000 $0 0.00%
State Bank Oftoulon's top markets include Davenport, Peoria, and Ottawa among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 62 $3,370,000 $54,355 $0 0.00%

    For 2019, State Bank Oftoulon's most frequently originated type of loan was Conventional, with 62 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 35 $1,825,000 $52,143 $0 0.00%
    Refi 16 $1,040,000 $65,000 $0 0.00%
    Home Improvement 6 $380,000 $63,333 $0 0.00%
    Other 5 $125,000 $25,000 $0 0.00%

    For 2019, State Bank Oftoulon's most frequently cited loan purpose was Home Purchase, with 35 originations. The 2nd most popular reason was Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 62 $3,370,000 $54,355 $0 0.00%

    For 2019, State Bank Oftoulon's most frequently cited loan duration was Other, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 55 $2,335,000 $42,455 $0 0.00%
    $100k-200k 6 $790,000 $131,667 $0 0.00%
    $200k-400k 1 $245,000 $245,000 $0 0.00%

    2019 saw State Bank Oftoulon place emphasis on $100,000 or less loans with 55 originations, totaling $2,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 18 $950,000 $52,778 $0 0.00%
    $100k-150k 16 $790,000 $49,375 $0 0.00%
    $50k-75k 12 $470,000 $39,167 $0 0.00%
    $75k-100k 9 $485,000 $53,889 $0 0.00%
    $150k-250k 4 $380,000 $95,000 $0 0.00%
    $250k+ 2 $130,000 $65,000 $0 0.00%

    State Bank Oftoulon lent most frequently to those with incomes in the $50k or less range, with 18 originations. The second most popular income band? $100k-150k, with 16 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 62 $3,370,000 $54,355 $0 0.00%

    State Bank Oftoulon lent most frequently to those with DTI ratios of Exempt%, with 62 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 59 $3,105,000 $52,627 $0 0.00%
    Not applicable 1 $165,000 $165,000 $0 0.00%
    Asian 2 $100,000 $50,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.92%

    State Bank Oftoulon 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
    98.39%

    State Bank Oftoulon has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 62 $3,370,000 $54,355

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $165,000 $165,000
    Single Family (1-4 Units):Site-Built 61 $3,205,000 $52,541

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    STATE FARM BANK, FSB Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 16.7%
    STATE FARM BANK, FSB Conventional home mortgage Problem with a credit reporting company's investigation into an existing problem 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Struggling to pay mortgage 1 8.3%
    STATE FARM BANK, FSB Conventional home mortgage Trouble during payment process 5 41.7%
    STATE FARM BANK, FSB Home equity loan or line of credit (HELOC) Trouble during payment process 2 16.7%
    STATE FARM BANK, FSB VA mortgage Trouble during payment process 1 8.3%