Ipava State Bank Mortgage Rates, Fees & Info

Ipava, IL

LEI: 5493005QZNPGRQNTRB15

Tax ID: 37-0348120

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Ipava State Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Ipava State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Peoria, Chicago, North Port, Galesburg, and St. Louis among others. We have data for 11 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.

    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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    Originations

    218

    Origination Dollar Volume (All Markets)

    $31,740,000

    Employee count

    36

    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) 194 $26,570,000 $136,959 $0 0.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 5 $1,295,000 $259,000 $0 0.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $1,020,000 $510,000 $0 0.00%
    Outside of Metro Areas 5 $755,000 $151,000 $0 0.00%
    Galesburg, IL (FHA|USDA|VA) 5 $535,000 $107,000 $0 0.00%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
    KANKAKEE, IL (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    SPRINGFIELD, IL (FHA|USDA|VA) 2 $200,000 $100,000 $0 0.00%
    Macomb, IL (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Ipava State Bank's top markets include Peoria, Chicago, North Port, Galesburg, and St. Louis among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 218 $31,740,000 $145,596 $0 0.00%

    For 2020, Ipava State Bank's most frequently originated type of loan was Conventional, with 218 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 94 $11,410,000 $121,383 $0 0.00%
    Refi 64 $11,540,000 $180,313 $0 0.00%
    Cash Out Refi 48 $8,300,000 $172,917 $0 0.00%
    Home Improvement 6 $200,000 $33,333 $0 0.00%
    Other 6 $290,000 $48,333 $0 0.00%

    For 2020, Ipava State Bank's most frequently cited loan purpose was Home Purchase, with 94 originations. The 2nd most popular reason was Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 218 $31,740,000 $145,596 $0 0.00%

    For 2020, Ipava State Bank's most frequently cited loan duration was Other, with 218 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 99 $5,645,000 $57,020 $0 0.00%
    $100k-200k 73 $10,805,000 $148,014 $0 0.00%
    $200k-400k 35 $9,595,000 $274,143 $0 0.00%
    $400k-600k 10 $4,870,000 $487,000 $0 0.00%
    $600k-1MM 1 $825,000 $825,000 $0 0.00%

    2020 saw Ipava State Bank place emphasis on $100,000 or less loans with 99 originations, totaling $5,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 48 $8,480,000 $176,667 $0 0.00%
    $150k-250k 34 $5,370,000 $157,941 $0 0.00%
    $75k-100k 34 $4,000,000 $117,647 $0 0.00%
    $50k or less 33 $2,655,000 $80,455 $0 0.00%
    $50k-75k 30 $3,270,000 $109,000 $0 0.00%
    $250k+ 12 $3,030,000 $252,500 $0 0.00%

    Ipava State Bank lent most frequently to those with incomes in the $100k-150k range, with 48 originations. The second most popular income band? $150k-250k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 218 $31,740,000 $145,596 $0 0.00%

    Ipava State Bank lent most frequently to those with DTI ratios of Exempt%, with 218 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 193 $25,985,000 $134,637 $0 0.00%
    Not provided 16 $3,930,000 $245,625 $0 0.00%
    Not applicable 7 $1,375,000 $196,429 $0 0.00%
    Black 1 $235,000 $235,000 $0 0.00%
    Asian 1 $215,000 $215,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.62%

    Ipava State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    99.08%

    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 218 $31,740,000 $145,596

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $2,100,000 $175,000
    Single Family (1-4 Units):Site-Built 206 $29,640,000 $143,883

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Ipava State Bank 74 East Pine Street Canton, IL 61520 Full Service B&M $71,995
    Ipava State Bank 101 East Broadway Astoria, IL 61501 Full Service B&M $13,363
    Ipava State Bank 116 Washington Sq. Washington, IL 61571 Full Service B&M $20,471
    Ipava State Bank 1203 South Main Street Lewistown, IL 61542 Full Service B&M $30,938
    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 $29,031

    For 2020, Ipava State Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,473
    Net interest income $5,684
    Total noninterest income $2,286
    Gross Fiduciary activities income $140
    Service charges on deposit accounts $696
    Trading account gains and fees $0
    Additional Noninterest Income $1,450
    Pre-tax net operating income $2,293
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,293
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,293
    Minority interest net income $0
    Net income $2,293
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,293

    Ipava State Bank's gross interest income from loans was $6,473,000.
    Ipava State Bank's net interest income from loans was $5,684,000.
    Ipava State Bank's fee based income from loans was $696,000.
    Ipava State Bank's net income from loans was $2,293,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $789
    Provision for credit losses $125
    Total noninterest expense $5,552
    Salaries and employee benefits $3,483
    Premises and equipment expense $731
    Additional noninterest expense $1,338
    Applicable income taxes $0
    Net charge-offs $19
    Cash dividends $1,813

    Ipava State Bank's interest expense for loans was $789,000.
    Ipava State Bank's payroll and benefits expense were $3,483,000.
    Ipava State Bank's property, plant and equipment expenses $731,000.

    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 $171,437
    Deposits held in domestic offices $171,437
    Deposits by Individuals, partnerships, and corporations $144,368
    Deposits by U.S. Government $8
    Deposits by States and political subdivisions in the U.S. $27,061
    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 $111,015
    Demand deposits $60,372
    Nontransaction accounts $60,422
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $25,089
    Total time deposits $35,333
    Total time and savings deposits $111,065
    Noninterest-bearing deposits $54,525
    Interest-bearing deposits $116,912
    Retail deposits $166,422
    IRAs and Keogh plan accounts $5,278
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $185,693
    Cash & Balances due from depository institutions $41,209
    Interest-bearing balances $36,199
    Total securities $27,560
    Federal funds sold & reverse repurchase $0
    Net loans and leases $109,692
    Loan and leases loss allowance $1,192
    Trading account assets $0
    Bank premises and fixed assets $4,896
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $2,336

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $185,693
    Total Liabilities $171,661
    Total deposits $171,437
    Interest-bearing deposits $116,912
    Deposits held in domestic offices $171,437
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $45
    Subordinated debt $0
    All other liabilities $179

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $109,692
    Loan and leases loss allowance $1,192
    Total loans and leases (domestic) $110,884
    All real estate loans $82,104
    Real estate loans in domestic offices $82,104
    Construction and development loans $3,526
    Residential 1-4 family construction $1,829
    Other construction, all land development and other land $1,697
    Loans secured by nonfarm nonresidential properties $19,888
    Nonfarm nonresidential secured by owner-occupied properties $8,078
    Commercial real estate & other non-farm, non-residential $11,810
    Multifamily residential real estate $1,314
    1-4 family residential loans $30,795
    Farmland loans $26,581
    Loans held in foreign offices $0
    Farm loans $7,920
    Commercial and industrial loans $13,975
    To non-U.S. addressees $0
    Loans to individuals $5,418
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $3,705
    Other loans to individuals $1,713
    All other loans & leases $1,467
    Loans to foreign governments and official institutions $0
    Other loans $72
    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 $7
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Ipava State Bank had $109,692,000 of loans outstanding in 2020. $82,104,000 of loans were in real estate loans. $3,526,000 of loans were in development loans. $1,314,000 of loans were in multifamily mortgage loans. $30,795,000 of loans were in 1-4 family mortgage loans. $7,920,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,705,000 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 96 $12,931 $134,698
    Nonfarm, nonresidential loans - <$100k 48 $1,863 $38,813
    Nonfarm, nonresidential loans - $100-250k 27 $3,421 $126,704
    Nonfarm, nonresidential loans - $250k-1MM 21 $7,647 $364,143
    Commercial & Industrial, US addressed loans - <$1MM 299 $11,839 $39,595
    Commercial & Industrial, US addressed loans - <$100k 252 $5,545 $22,004
    Commercial & Industrial, US addressed loans - $100-250k 34 $3,348 $98,471
    Commercial & Industrial, US addressed loans - $250k-1MM 13 $2,946 $226,615
    Farmland loans - <$1MM 82 $10,606 $129,341
    Farmland loans - <$100k 30 $1,292 $43,067
    Farmland loans - $100-250k 29 $4,026 $138,828
    Farmland loans - $250k-1MM 23 $5,288 $229,913
    Agriculture operations loans - <$1MM 108 $6,471 $59,917
    Agriculture operations loans - <$100k 73 $926 $12,685
    Agriculture operations loans - $100-250k 19 $1,809 $95,211
    Agriculture operations loans - $250k-1MM 16 $3,736 $233,500