Bankfinancial Mortgage Rates, Fees & Info

Olympia Fields, IL

LEI: 54930061HIZ1MCMEOR72

Tax ID: 36-1570375

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Mortgage Data

Bank Data

Review & Overview

Bankfinancial is a smaller bank specializing in Home Purchase and Refi loans. Bankfinancial has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Denver, Tampa, Santa Fe, and Dallas among others. We have data for 25 markets. (Some data included below & more in-depth data is available with an active subscription.)

Bankfinancial 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

111

Origination Dollar Volume (All Markets)

$126,225,000

Employee count

236

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 59 $45,795,000 $776,186 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 4 $13,470,000 $3,367,500 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 6 $11,590,000 $1,931,667 $0 0.00%
SANTA FE, NM (FHA|USDA|VA) 1 $6,505,000 $6,505,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 5 $6,095,000 $1,219,000 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $6,005,000 $6,005,000 $0 0.00%
FORT SMITH, AR-OK (FHA|USDA|VA) 2 $5,050,000 $2,525,000 $0 0.00%
MOBILE, AL (FHA|USDA|VA) 1 $4,505,000 $4,505,000 $0 0.00%
LONGVIEW, TX (FHA|USDA|VA) 2 $3,470,000 $1,735,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $2,930,000 $1,465,000 $0 0.00%
AMARILLO, TX (FHA|USDA|VA) 1 $2,505,000 $2,505,000 $0 0.00%
BATON ROUGE, LA (FHA|USDA|VA) 1 $2,405,000 $2,405,000 $0 0.00%
GREELEY, CO (FHA|USDA|VA) 1 $2,155,000 $2,155,000 $0 0.00%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $1,835,000 $611,667 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 4 $1,630,000 $407,500 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $1,590,000 $795,000 $0 0.00%
ROCKFORD, IL (FHA|USDA|VA) 1 $1,555,000 $1,555,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $1,425,000 $475,000 $0 0.00%
Outside of Metro Areas 2 $1,190,000 $595,000 $0 0.00%
TALLAHASSEE, FL (FHA|USDA|VA) 2 $1,120,000 $560,000 $0 0.00%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $840,000 $420,000 $0 0.00%
COLORADO SPRINGS, CO (FHA|USDA|VA) 2 $740,000 $370,000 $0 0.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 2 $730,000 $365,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $675,000 $675,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
Bankfinancial's top markets include Chicago, Denver, Tampa, Santa Fe, and Dallas among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 111 $126,225,000 $1,137,162 $0 0.00%

    For 2018, Bankfinancial's most frequently originated type of loan was Conventional, with 111 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 71 $84,375,000 $1,188,380 $0 0.00%
    Refi 36 $40,940,000 $1,137,222 $0 0.00%
    Home Improvement 4 $910,000 $227,500 $0 0.00%

    For 2018, Bankfinancial's most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 111 $126,225,000 $1,137,162 $0 0.00%

    For 2018, Bankfinancial's most frequently cited loan duration was Other, with 111 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 32 $91,520,000 $2,860,000 $0 0.00%
    $600k-1MM 24 $18,840,000 $785,000 $0 0.00%
    $200k-400k 19 $5,615,000 $295,526 $0 0.00%
    $400k-600k 18 $8,950,000 $497,222 $0 0.00%
    $100,000 or less 13 $575,000 $44,231 $0 0.00%
    $100k-200k 5 $725,000 $145,000 $0 0.00%

    2018 saw Bankfinancial place emphasis on $1MM+ loans with 32 originations, totaling $91,520,000 in origination value.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 111 $126,225,000 $1,137,162 $0 0.00%

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 111 $126,225,000 $1,137,162 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.39%

    Bankfinancial 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
    90.09%

    Bankfinancial has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 111 $126,225,000 $1,137,162

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 111 $126,225,000 $1,137,162

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 3 11.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 5 18.5%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Incorrect information on your report 2 7.4%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST FHA mortgage Closing on a mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 1 3.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.4%

    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 $21,313
    BankFinancial, National Association 1123 South Milwaukee Avenue Libertyville, IL 60048 Full Service B&M $23,780
    BankFinancial, National Association 1200 East Ogden Avenue Naperville, IL 60563 Full Service B&M $16,974
    BankFinancial, National Association 1333 West 127th Street Calumet Park, IL 60827 Full Service B&M $18,510
    BankFinancial, National Association 1354 East 55th Street Chicago, IL 60615 Full Service B&M $109,878
    BankFinancial, National Association 1368 Shermer Road Northbrook, IL 60062 Full Service B&M $27,080
    BankFinancial, National Association 1401 North Larkin Avenue Joliet, IL 60435 Full Service B&M $74,113
    BankFinancial, National Association 1409 West Peterson Road Libertyville, IL 60048 Full Service B&M $22,209
    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 $42,022
    BankFinancial, National Association 21110 South Western Avenue Olympia Fields, IL 60461 Full Service B&M $256,720
    BankFinancial, National Association 2424 North Clark Street Chicago, IL 60614 Full Service B&M $24,043
    BankFinancial, National Association 3443 West Touhy Avenue Lincolnwood, IL 60645 Full Service B&M $115,990
    BankFinancial, National Association 3700 W. 183rd Street Hazel Crest, IL 60429 Full Service B&M $64,341
    BankFinancial, National Association 48 Orland Square Drive Orland Park, IL 60462 Full Service B&M $90,080
    BankFinancial, National Association 5140 Main Street Downers Grove, IL 60515 Full Service B&M $124,404
    BankFinancial, National Association 630 Waukegan Road Deerfield, IL 60015 Full Service B&M $36,218
    BankFinancial, National Association 6301 Fairview Avenue Westmont, IL 60559 Full Service B&M $51,189
    BankFinancial, National Association 6415 West 95th Street Chicago Ridge, IL 60415 Full Service B&M $83,357
    BankFinancial, National Association One Marriott Drive Lincolnshire, IL 60069 Full Service B&M $117,751

    For 2018, Bankfinancial had 20 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $61,726
    Net interest income $52,509
    Total noninterest income $11,066
    Gross Fiduciary activities income $737
    Service charges on deposit accounts $2,166
    Trading account gains and fees $0
    Additional Noninterest Income $8,163
    Pre-tax net operating income $24,208
    Securities gains (or losses, -) $3,413
    Income before extraordinary items $20,517
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $20,517
    Minority interest net income $0
    Net income $20,517
    Sale, conversion, retirement of capital stock, net $-18,494
    Net operating income $17,820

    Bankfinancial's gross interest income from loans was $61,726,000.
    Bankfinancial's net interest income from loans was $52,509,000.
    Bankfinancial's fee based income from loans was $2,166,000.
    Bankfinancial's net income from loans was $20,517,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,217
    Provision for credit losses $145
    Total noninterest expense $39,222
    Salaries and employee benefits $21,910
    Premises and equipment expense $6,817
    Additional noninterest expense $10,495
    Applicable income taxes $7,104
    Net charge-offs $41
    Cash dividends $17,544

    Bankfinancial's interest expense for loans was $9,217,000.
    Bankfinancial's payroll and benefits expense were $21,910,000.
    Bankfinancial's property, plant and equipment expenses $6,817,000.

    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 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 $1,374,527
    Deposits held in domestic offices $1,374,527
    Deposits by Individuals, partnerships, and corporations $1,303,437
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $71,090
    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 $83,086
    Demand deposits $58,860
    Nontransaction accounts $1,291,441
    Money market deposit accounts (MMDAs) $255,951
    Other savings deposits (excluding MMDAs) $597,161
    Total time deposits $438,329
    Total time and savings deposits $1,315,667
    Noninterest-bearing deposits $252,084
    Interest-bearing deposits $1,122,443
    Retail deposits $1,227,788
    IRAs and Keogh plan accounts $51,522
    Brokered deposits $66,721
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,582,655
    Cash & Balances due from depository institutions $171,711
    Interest-bearing balances $157,906
    Total securities $14,672
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,323,793
    Loan and leases loss allowance $8,470
    Trading account assets $0
    Bank premises and fixed assets $25,205
    Other real estate owned $1,226
    Goodwill and other intangibles $522
    All other assets $45,526

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,582,655
    Total Liabilities $1,409,402
    Total deposits $1,374,527
    Interest-bearing deposits $1,122,443
    Deposits held in domestic offices $1,374,527
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $1,049
    Trading liabilities $0
    Other borrowed funds $20,000
    Subordinated debt $0
    All other liabilities $13,826

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,323,793
    Loan and leases loss allowance $8,470
    Total loans and leases (domestic) $1,332,263
    All real estate loans $843,560
    Real estate loans in domestic offices $843,560
    Construction and development loans $170
    Residential 1-4 family construction $0
    Other construction, all land development and other land $170
    Loans secured by nonfarm nonresidential properties $152,399
    Nonfarm nonresidential secured by owner-occupied properties $35,177
    Commercial real estate & other non-farm, non-residential $117,222
    Multifamily residential real estate $620,495
    1-4 family residential loans $70,496
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $486,015
    To non-U.S. addressees $0
    Loans to individuals $1,539
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $1,539
    All other loans & leases $1,149
    Loans to foreign governments and official institutions $0
    Other loans $1,149
    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 $1,323,793,000 of loans outstanding in 2018. $843,560,000 of loans were in real estate loans. $170,000 of loans were in development loans. $620,495,000 of loans were in multifamily mortgage loans. $70,496,000 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 121 $43,575 $360,124
    Nonfarm, nonresidential loans - <$100k 6 $335 $55,833
    Nonfarm, nonresidential loans - $100-250k 27 $3,511 $130,037
    Nonfarm, nonresidential loans - $250k-1MM 88 $39,729 $451,466
    Commercial & Industrial, US addressed loans - <$1MM 304 $75,524 $248,434
    Commercial & Industrial, US addressed loans - <$100k 29 $824 $28,414
    Commercial & Industrial, US addressed loans - $100-250k 74 $6,292 $85,027
    Commercial & Industrial, US addressed loans - $250k-1MM 201 $68,408 $340,338