Ipava State Bank Mortgage Rates, Fees & Info

Ipava, IL

LEI: 5493005QZNPGRQNTRB15

Tax ID: 37-0348120

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Mortgage Data

Bank Data

Review & Overview

Ipava State Bank is a smaller bank specializing in Home Purchase and Refi loans. Ipava State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Peoria, Chicago, Galesburg, Nashville, and Louisville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Ipava State Bank 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

121

Origination Dollar Volume (All Markets)

$13,945,000

Employee count

35

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
PEORIA, IL (FHA|USDA|VA) 108 $11,210,000 $103,796 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $1,055,000 $1,055,000 $0 0.00%
Outside of Metro Areas 3 $525,000 $175,000 $0 0.00%
Galesburg, IL (FHA|USDA|VA) 4 $400,000 $100,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
LOUISVILLE, KY (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Sterling, IL (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Macomb, IL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
BLOOMINGTON, IL (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Ipava State Bank's top markets include Peoria, Chicago, Galesburg, Nashville, and Louisville among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 121 $13,945,000 $115,248 $0 0.00%

    For 2019, Ipava State Bank's most frequently originated type of loan was Conventional, with 121 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 69 $7,835,000 $113,551 $0 0.00%
    Refi 30 $4,290,000 $143,000 $0 0.00%
    Cash Out Refi 10 $1,230,000 $123,000 $0 0.00%
    Home Improvement 9 $475,000 $52,778 $0 0.00%
    Other 3 $115,000 $38,333 $0 0.00%

    For 2019, Ipava State Bank's most frequently cited loan purpose was Home Purchase, with 69 originations. The 2nd most popular reason was Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 121 $13,945,000 $115,248 $0 0.00%

    For 2019, Ipava State Bank's most frequently cited loan duration was Other, with 121 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 69 $3,535,000 $51,232 $0 0.00%
    $100k-200k 36 $4,910,000 $136,389 $0 0.00%
    $200k-400k 12 $3,100,000 $258,333 $0 0.00%
    $400k-600k 3 $1,345,000 $448,333 $0 0.00%
    $1MM+ 1 $1,055,000 $1,055,000 $0 0.00%

    2019 saw Ipava State Bank place emphasis on $100,000 or less loans with 69 originations, totaling $3,535,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 27 $3,385,000 $125,370 $0 0.00%
    $50k-75k 22 $2,120,000 $96,364 $0 0.00%
    $75k-100k 20 $1,900,000 $95,000 $0 0.00%
    $150k-250k 19 $2,335,000 $122,895 $0 0.00%
    $50k or less 8 $550,000 $68,750 $0 0.00%
    $250k+ 5 $735,000 $147,000 $0 0.00%

    Ipava State Bank lent most frequently to those with incomes in the $100k-150k range, with 27 originations. The second most popular income band? $50k-75k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 121 $13,945,000 $115,248 $0 0.00%

    Ipava State Bank lent most frequently to those with DTI ratios of Exempt%, with 121 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 107 $11,705,000 $109,393 $0 0.00%
    Not applicable 13 $2,165,000 $166,538 $0 0.00%
    Black 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.85%

    Ipava State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    99.17%

    Ipava State Bank 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 121 $13,945,000 $115,248

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 16 $1,800,000 $112,500
    Single Family (1-4 Units):Site-Built 105 $12,145,000 $115,667

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Ipava State Bank 101 East Broadway Astoria, IL 61501 Full Service B&M $12,821
    Ipava State Bank 116 Washington Sq. Washington, IL 61571 Full Service B&M $17,409
    Ipava State Bank 1203 South Main Street Lewistown, IL 61542 Full Service B&M $25,773
    Ipava State Bank 123 East Pine Street Canton, IL 61520 Full Service B&M $0
    Ipava State Bank 70 East Main Street Ipava, IL 61441 Full Service B&M $26,539
    Ipava State Bank 74 East Pine Street Canton, IL 61520 Full Service B&M $45,196

    For 2019, Ipava State Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,360
    Net interest income $5,482
    Total noninterest income $1,428
    Gross Fiduciary activities income $285
    Service charges on deposit accounts $480
    Trading account gains and fees $0
    Additional Noninterest Income $663
    Pre-tax net operating income $2,207
    Securities gains (or losses, -) $22
    Income before extraordinary items $2,229
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,229
    Minority interest net income $0
    Net income $2,229
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,207

    Ipava State Bank's gross interest income from loans was $6,360,000.
    Ipava State Bank's net interest income from loans was $5,482,000.
    Ipava State Bank's fee based income from loans was $480,000.
    Ipava State Bank's net income from loans was $2,229,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $878
    Provision for credit losses $90
    Total noninterest expense $4,613
    Salaries and employee benefits $2,935
    Premises and equipment expense $502
    Additional noninterest expense $1,176
    Applicable income taxes $0
    Net charge-offs $91
    Cash dividends $1,529

    Ipava State Bank's interest expense for loans was $878,000.
    Ipava State Bank's payroll and benefits expense were $2,935,000.
    Ipava State Bank's property, plant and equipment expenses $502,000.

    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 $129,162
    Deposits held in domestic offices $129,162
    Deposits by Individuals, partnerships, and corporations $107,864
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $21,298
    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 $74,230
    Demand deposits $37,326
    Nontransaction accounts $54,932
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $19,890
    Total time deposits $35,042
    Total time and savings deposits $91,836
    Noninterest-bearing deposits $33,491
    Interest-bearing deposits $95,671
    Retail deposits $124,588
    IRAs and Keogh plan accounts $5,400
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $141,878
    Cash & Balances due from depository institutions $11,757
    Interest-bearing balances $5,409
    Total securities $22,190
    Federal funds sold & reverse repurchase $0
    Net loans and leases $101,125
    Loan and leases loss allowance $1,086
    Trading account assets $0
    Bank premises and fixed assets $4,486
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $2,320

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $141,878
    Total Liabilities $129,364
    Total deposits $129,162
    Interest-bearing deposits $95,671
    Deposits held in domestic offices $129,162
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $202

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $101,125
    Loan and leases loss allowance $1,086
    Total loans and leases (domestic) $102,211
    All real estate loans $77,715
    Real estate loans in domestic offices $77,715
    Construction and development loans $3,592
    Residential 1-4 family construction $2,028
    Other construction, all land development and other land $1,564
    Loans secured by nonfarm nonresidential properties $11,958
    Nonfarm nonresidential secured by owner-occupied properties $8,921
    Commercial real estate & other non-farm, non-residential $3,037
    Multifamily residential real estate $1,183
    1-4 family residential loans $33,179
    Farmland loans $27,803
    Loans held in foreign offices $0
    Farm loans $7,462
    Commercial and industrial loans $10,509
    To non-U.S. addressees $0
    Loans to individuals $5,205
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $4,387
    Other loans to individuals $818
    All other loans & leases $1,320
    Loans to foreign governments and official institutions $0
    Other loans $94
    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 $13
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Ipava State Bank had $101,125,000 of loans outstanding in 2019. $77,715,000 of loans were in real estate loans. $3,592,000 of loans were in development loans. $1,183,000 of loans were in multifamily mortgage loans. $33,179,000 of loans were in 1-4 family mortgage loans. $7,462,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,387,000 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 95 $11,146 $117,326
    Nonfarm, nonresidential loans - <$100k 49 $1,980 $40,408
    Nonfarm, nonresidential loans - $100-250k 30 $3,919 $130,633
    Nonfarm, nonresidential loans - $250k-1MM 16 $5,247 $327,938
    Commercial & Industrial, US addressed loans - <$1MM 224 $9,393 $41,933
    Commercial & Industrial, US addressed loans - <$100k 188 $4,353 $23,154
    Commercial & Industrial, US addressed loans - $100-250k 27 $2,714 $100,519
    Commercial & Industrial, US addressed loans - $250k-1MM 9 $2,326 $258,444
    Farmland loans - <$1MM 90 $11,829 $131,433
    Farmland loans - <$100k 32 $1,368 $42,750
    Farmland loans - $100-250k 32 $4,502 $140,688
    Farmland loans - $250k-1MM 26 $5,959 $229,192
    Agriculture operations loans - <$1MM 107 $5,818 $54,374
    Agriculture operations loans - <$100k 79 $1,278 $16,177
    Agriculture operations loans - $100-250k 15 $1,074 $71,600
    Agriculture operations loans - $250k-1MM 13 $3,466 $266,615