Bankfinancial Mortgage Rates, Fees & Info

Olympia Fields, IL

LEI: 54930061HIZ1MCMEOR72

Tax ID: 36-1570375

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Bankfinancial is a smaller bank specializing in Home Purchase and Refi loans. Bankfinancial has a high proportion of conventional loans. Their top markets include Chicago, Deltona, Dallas, Longview, and Fayetteville among others. Bankfinancial has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

161

Origination Dollar Volume (All Markets)

$124,995,000

Employee count

221

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 104 $67,120,000 $645,385 $0 0.00%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 5 $9,615,000 $1,923,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 9 $7,225,000 $802,778 $0 0.00%
LONGVIEW, TX (FHA|USDA|VA) 2 $4,310,000 $2,155,000 $0 0.00%
FAYETTEVILLE, NC (FHA|USDA|VA) 4 $4,090,000 $1,022,500 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $3,835,000 $1,278,333 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $3,330,000 $832,500 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $3,270,000 $1,635,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $3,200,000 $1,600,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 6 $2,820,000 $470,000 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $2,160,000 $1,080,000 $0 0.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $2,160,000 $1,080,000 $0 0.00%
JACKSONVILLE, FL (FHA|USDA|VA) 3 $1,935,000 $645,000 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 3 $1,785,000 $595,000 $0 0.00%
ABILENE, TX (FHA|USDA|VA) 1 $1,695,000 $1,695,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $1,665,000 $555,000 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 3 $1,455,000 $485,000 $0 0.00%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $1,255,000 $1,255,000 $0 0.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $1,255,000 $1,255,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $815,000 $815,000 $0 0.00%

Bankfinancial's top markets include Chicago, Deltona, Dallas, Longview, and Fayetteville among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 161 $124,995,000 $776,366 $0 0.00%

For the 2021 period, Bankfinancial's most frequently originated loan type of loans were Conventional, with 161 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 122 $95,340,000 $781,475 $0 0.00%
Refi 38 $29,030,000 $763,947 $0 0.00%
Home Improvement 1 $625,000 $625,000 $0 0.00%

For the 2021, Bankfinancial's most frequently cited loan purpose of loans were Home Purchase, with 122 originations. The 2nd most popular reason of loans were Refi, with 38 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 161 $124,995,000 $776,366 $0 0.00%

For the 2021, Bankfinancial's most frequently cited loan length of loans were Other, with 161 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$400k-600k 37 $17,625,000 $476,351 $0 0.00%
$1MM+ 35 $69,445,000 $1,984,143 $0 0.00%
$200k-400k 34 $11,040,000 $324,706 $0 0.00%
$600k-1MM 32 $24,820,000 $775,625 $0 0.00%
$100,000 or less 13 $785,000 $60,385 $0 0.00%
$100k-200k 10 $1,280,000 $128,000 $0 0.00%

2021 saw Bankfinancial place emphasis on $400k-600k loans with 37 originations, totaling $17,625,000 in origination value.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 161 $124,995,000 $776,366 $0 0.00%

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 161 $124,995,000 $776,366 $0 0.00%

Approval Rates

Total approvals of all applications
92.42%

Bankfinancial has an average approval rate.

Pick Rate

Approvals leading to origination
82.94%

Bankfinancial has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 161 $124,995,000 $776,366

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
161 $124,995,000 $776,366

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 20.0%
BANK OF THE WEST VA mortgage Trouble during payment process 1 3.3%
BANK OF THE WEST Other type of mortgage Trouble during payment process 2 6.7%
BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 1 3.3%
BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 3.3%
BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.3%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 3 10.0%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 4 13.3%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 6.7%
BANK OF THE WEST FHA mortgage Trouble during payment process 1 3.3%
BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 2 6.7%
BANK OF THE WEST Conventional home mortgage Closing on a mortgage 1 3.3%
BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 16.7%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Bankfinancial, National Association 1005 West Wise Road Schaumburg, IL 60193 Full Service B&M $32,379
Bankfinancial, National Association 6301 Fairview Avenue Westmont, IL 60559 Full Service B&M $59,695
Bankfinancial, National Association 6415 West 95th Street Chicago Ridge, IL 60415 Full Service B&M $92,207
Bankfinancial, National Association One Marriott Drive Lincolnshire, IL 60069 Full Service B&M $107,721
Bankfinancial, National Association 1401 North Larkin Avenue Joliet, IL 60435 Full Service B&M $74,394
Bankfinancial, National Association 1409 West Peterson Road Libertyville, IL 60048 Full Service B&M $28,243
Bankfinancial, National Association 15w060 North Frontage Road Burr Ridge, IL 60527 Limited, Administrative $0
Bankfinancial, National Association 1901 Sibley Boulevard Calumet City, IL 60409 Full Service B&M $52,714
Bankfinancial, National Association 21110 South Western Avenue Olympia Fields, IL 60461 Full Service B&M $232,355
Bankfinancial, National Association 2424 North Clark Street Chicago, IL 60614 Full Service B&M $25,224
Bankfinancial, National Association 3443 West Touhy Avenue Lincolnwood, IL 60645 Full Service B&M $154,772
Bankfinancial, National Association 3700 W. 183rd Street Hazel Crest, IL 60429 Full Service B&M $78,098
Bankfinancial, National Association 48 Orland Square Drive Orland Park, IL 60462 Full Service B&M $104,206
Bankfinancial, National Association 5140 Main Street Downers Grove, IL 60515 Full Service B&M $154,582
Bankfinancial, National Association 630 Waukegan Road Deerfield, IL 60015 Full Service B&M $39,237
Bankfinancial, National Association 1123 South Milwaukee Avenue Libertyville, IL 60048 Full Service B&M $24,254
Bankfinancial, National Association 1200 East Ogden Avenue Naperville, IL 60563 Full Service B&M $20,648
Bankfinancial, National Association 1333 West 127th Street Calumet Park, IL 60827 Full Service B&M $28,530
Bankfinancial, National Association 1354 E 55th St Chicago, IL 60615 Full Service B&M $129,012
Bankfinancial, National Association 1368 Shermer Road Northbrook, IL 60062 Full Service B&M $29,398

For 2021, Bankfinancial had 20 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $47,294
Net interest income $45,067
Total noninterest income $4,668
Gross Fiduciary activities income $911
Service charges on deposit accounts $1,273
Trading account gains and fees $0
Additional Noninterest Income $2,484
Pre-tax net operating income $11,920
Securities gains (or losses, -) $0
Income before extraordinary items $8,811
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $8,811
Minority interest net income $0
Net income $8,811
Sale, conversion, retirement of capital stock, net $0
Net operating income $8,811

Bankfinancial's gross interest income from loans was $47,294,000.
Bankfinancial's net interest income from loans was $45,067,000.
Bankfinancial's fee based income from loans was $1,273,000.
Bankfinancial's net income from loans was $8,811,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,227
Provision for credit losses $-1,240
Total noninterest expense $39,055
Salaries and employee benefits $21,869
Premises and equipment expense $7,524
Additional noninterest expense $9,662
Applicable income taxes $3,109
Net charge-offs $-204
Cash dividends $3,500

Bankfinancial's interest expense for loans was $2,227,000.
Bankfinancial's payroll and benefits expense were $21,869,000.
Bankfinancial's property, plant and equipment expenses $7,524,000.

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 1.0%
HELOC loans 3.0%
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 $1,504,720
Deposits held in domestic offices $1,504,720
Deposits by Individuals, partnerships, and corporations $1,472,877
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $31,735
Deposits by Commercial banks and other depository institutions in U.S. $108
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $94,823
Demand deposits $63,787
Nontransaction accounts $1,409,897
Money market deposit accounts (MMDAs) $333,369
Other savings deposits (excluding MMDAs) $869,610
Total time deposits $206,919
Total time and savings deposits $1,440,933
Noninterest-bearing deposits $358,465
Interest-bearing deposits $1,146,255
Retail deposits $1,482,511
IRAs and Keogh plan accounts $42,607
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,699,770
Cash & Balances due from depository institutions $504,890
Interest-bearing balances $495,795
Total securities $82,966
Federal funds sold & reverse repurchase $0
Net loans and leases $1,044,207
Loan and leases loss allowance $6,715
Trading account assets $0
Bank premises and fixed assets $29,920
Other real estate owned $0
Goodwill and other intangibles $188
All other assets $37,599

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,699,770
Total Liabilities $1,532,914
Total deposits $1,504,720
Interest-bearing deposits $1,146,255
Deposits held in domestic offices $1,504,720
% insured (estimated) $76
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $5,000
Subordinated debt $0
All other liabilities $23,194

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,044,207
Loan and leases loss allowance $6,715
Total loans and leases (domestic) $1,050,922
All real estate loans $559,625
Real estate loans in domestic offices $559,625
Construction and development loans $0
Residential 1-4 family construction $0
Other construction, all land development and other land $0
Loans secured by nonfarm nonresidential properties $103,047
Nonfarm nonresidential secured by owner-occupied properties $21,144
Commercial real estate & other non-farm, non-residential $81,903
Multifamily residential real estate $426,395
1-4 family residential loans $30,183
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $489,094
To non-U.S. addressees $0
Loans to individuals $1,685
Credit card loans $0
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $1,685
All other loans & leases $518
Loans to foreign governments and official institutions $0
Other loans $518
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 $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

BankFinancial had $1,044,207,000 of loans outstanding in 2021. $559,625,000 of loans were in real estate loans. $0 of loans were in development loans. $426,395,000 of loans were in multifamily mortgage loans. $30,183,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 87 $27,280 $313,563
Nonfarm, nonresidential loans - <$100k 7 $418 $59,714
Nonfarm, nonresidential loans - $100-250k 19 $2,831 $149,000
Nonfarm, nonresidential loans - $250k-1MM 61 $24,031 $393,951
Commercial & Industrial, US addressed loans - <$1MM 628 $63,630 $101,322
Commercial & Industrial, US addressed loans - <$100k 290 $9,906 $34,159
Commercial & Industrial, US addressed loans - $100-250k 121 $9,291 $76,785
Commercial & Industrial, US addressed loans - $250k-1MM 217 $44,433 $204,760