Bankfinancial Mortgage Rates, Fees & Info

Olympia Fields, IL

LEI: 54930061HIZ1MCMEOR72

Tax ID: 36-1570375

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    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, Dallas, Tampa, Denver, and Deltona among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bankfinancial has an average approval rate when compared to the average across all lenders. They have a below 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    108

    Origination Dollar Volume (All Markets)

    $72,360,000

    Employee count

    210

    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) 66 $29,540,000 $447,576 $0 0.00%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 7 $16,705,000 $2,386,429 $0 0.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 11 $8,215,000 $746,818 $0 0.00%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $4,905,000 $1,635,000 $0 0.00%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $3,120,000 $1,560,000 $0 0.00%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 6 $2,990,000 $498,333 $0 0.00%
    JACKSONVILLE, FL (FHA|USDA|VA) 4 $1,960,000 $490,000 $0 0.00%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $1,810,000 $905,000 $0 0.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $1,690,000 $845,000 $0 0.00%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 2 $880,000 $440,000 $0 0.00%
    SPARTANBURG, SC (FHA|USDA|VA) 2 $440,000 $220,000 $0 0.00%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Bankfinancial's top markets include Chicago, Dallas, Tampa, Denver, and Deltona among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 108 $72,360,000 $670,000 $0 0.00%

    For 2020, Bankfinancial's most frequently originated type of loan was Conventional, with 108 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 78 $48,980,000 $627,949 $0 0.00%
    Refi 29 $23,275,000 $802,586 $0 0.00%
    Home Improvement 1 $105,000 $105,000 $0 0.00%

    For 2020, Bankfinancial's most frequently cited loan purpose was Home Purchase, with 78 originations. The 2nd most popular reason was Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 108 $72,360,000 $670,000 $0 0.00%

    For 2020, Bankfinancial's most frequently cited loan duration was Other, with 108 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 27 $1,515,000 $56,111 $0 0.00%
    $200k-400k 27 $8,115,000 $300,556 $0 0.00%
    $1MM+ 21 $45,215,000 $2,153,095 $0 0.00%
    $600k-1MM 15 $11,055,000 $737,000 $0 0.00%
    $400k-600k 11 $5,475,000 $497,727 $0 0.00%
    $100k-200k 7 $985,000 $140,714 $0 0.00%

    2020 saw Bankfinancial place emphasis on $100,000 or less loans with 27 originations, totaling $1,515,000 in origination value.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 108 $72,360,000 $670,000 $0 0.00%

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 108 $72,360,000 $670,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.54%

    Bankfinancial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.00%

    Bankfinancial has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 108 $72,360,000 $670,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 108 $72,360,000 $670,000

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Incorrect information on your report 1 3.8%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 4 15.4%
    BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 2 7.7%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 6 23.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 2 7.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 4 15.4%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 7.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.8%

    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 $40,275
    Bankfinancial, National Association 1123 South Milwaukee Avenue Libertyville, IL 60048 Full Service B&M $24,383
    Bankfinancial, National Association 1200 East Ogden Avenue Naperville, IL 60563 Full Service B&M $18,056
    Bankfinancial, National Association 1333 West 127th Street Calumet Park, IL 60827 Full Service B&M $22,897
    Bankfinancial, National Association 1354 E 55th St Chicago, IL 60615 Full Service B&M $120,261
    Bankfinancial, National Association 1368 Shermer Road Northbrook, IL 60062 Full Service B&M $28,293
    Bankfinancial, National Association 1401 North Larkin Avenue Joliet, IL 60435 Full Service B&M $75,468
    Bankfinancial, National Association 1409 West Peterson Road Libertyville, IL 60048 Full Service B&M $26,061
    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 $47,190
    Bankfinancial, National Association 21110 South Western Avenue Olympia Fields, IL 60461 Full Service B&M $231,312
    Bankfinancial, National Association 2424 North Clark Street Chicago, IL 60614 Full Service B&M $25,852
    Bankfinancial, National Association 3443 West Touhy Avenue Lincolnwood, IL 60645 Full Service B&M $145,403
    Bankfinancial, National Association 3700 W. 183rd Street Hazel Crest, IL 60429 Full Service B&M $72,653
    Bankfinancial, National Association 48 Orland Square Drive Orland Park, IL 60462 Full Service B&M $100,407
    Bankfinancial, National Association 5140 Main Street Downers Grove, IL 60515 Full Service B&M $143,699
    Bankfinancial, National Association 630 Waukegan Road Deerfield, IL 60015 Full Service B&M $38,290
    Bankfinancial, National Association 6301 Fairview Avenue Westmont, IL 60559 Full Service B&M $58,817
    Bankfinancial, National Association 6415 West 95th Street Chicago Ridge, IL 60415 Full Service B&M $84,873
    Bankfinancial, National Association One Marriott Drive Lincolnshire, IL 60069 Full Service B&M $103,119

    For 2020, Bankfinancial had 20 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $53,427
    Net interest income $46,439
    Total noninterest income $4,836
    Gross Fiduciary activities income $792
    Service charges on deposit accounts $1,467
    Trading account gains and fees $0
    Additional Noninterest Income $2,577
    Pre-tax net operating income $14,385
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,557
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,557
    Minority interest net income $0
    Net income $10,557
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,557

    Bankfinancial's gross interest income from loans was $53,427,000.
    Bankfinancial's net interest income from loans was $46,439,000.
    Bankfinancial's fee based income from loans was $1,467,000.
    Bankfinancial's net income from loans was $10,557,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,988
    Provision for credit losses $55
    Total noninterest expense $36,835
    Salaries and employee benefits $20,592
    Premises and equipment expense $7,361
    Additional noninterest expense $8,882
    Applicable income taxes $3,828
    Net charge-offs $-64
    Cash dividends $13,713

    Bankfinancial's interest expense for loans was $6,988,000.
    Bankfinancial's payroll and benefits expense were $20,592,000.
    Bankfinancial's property, plant and equipment expenses $7,361,000.

    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 2.0%
    HELOC loans 6.0%
    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 $1,413,174
    Deposits held in domestic offices $1,413,174
    Deposits by Individuals, partnerships, and corporations $1,383,533
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $29,291
    Deposits by Commercial banks and other depository institutions in U.S. $350
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $118,376
    Demand deposits $87,551
    Nontransaction accounts $1,294,798
    Money market deposit accounts (MMDAs) $297,801
    Other savings deposits (excluding MMDAs) $743,997
    Total time deposits $253,000
    Total time and savings deposits $1,325,623
    Noninterest-bearing deposits $345,818
    Interest-bearing deposits $1,067,356
    Retail deposits $1,383,747
    IRAs and Keogh plan accounts $46,782
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,596,342
    Cash & Balances due from depository institutions $518,613
    Interest-bearing balances $504,498
    Total securities $8,712
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,002,578
    Loan and leases loss allowance $7,751
    Trading account assets $0
    Bank premises and fixed assets $29,750
    Other real estate owned $157
    Goodwill and other intangibles $264
    All other assets $36,268

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,596,342
    Total Liabilities $1,434,664
    Total deposits $1,413,174
    Interest-bearing deposits $1,067,356
    Deposits held in domestic offices $1,413,174
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,000
    Subordinated debt $0
    All other liabilities $17,490

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,002,578
    Loan and leases loss allowance $7,751
    Total loans and leases (domestic) $1,010,329
    All real estate loans $603,373
    Real estate loans in domestic offices $603,373
    Construction and development loans $497
    Residential 1-4 family construction $0
    Other construction, all land development and other land $497
    Loans secured by nonfarm nonresidential properties $108,545
    Nonfarm nonresidential secured by owner-occupied properties $20,774
    Commercial real estate & other non-farm, non-residential $87,771
    Multifamily residential real estate $452,569
    1-4 family residential loans $41,762
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $405,139
    To non-U.S. addressees $0
    Loans to individuals $1,812
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $1,812
    All other loans & leases $5
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $1,002,578,000 of loans outstanding in 2020. $603,373,000 of loans were in real estate loans. $497,000 of loans were in development loans. $452,569,000 of loans were in multifamily mortgage loans. $41,762,000 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 89 $27,955 $314,101
    Nonfarm, nonresidential loans - <$100k 4 $274 $68,500
    Nonfarm, nonresidential loans - $100-250k 20 $2,515 $125,750
    Nonfarm, nonresidential loans - $250k-1MM 65 $25,166 $387,169
    Commercial & Industrial, US addressed loans - <$1MM 568 $67,502 $118,842
    Commercial & Industrial, US addressed loans - <$100k 334 $11,242 $33,659
    Commercial & Industrial, US addressed loans - $100-250k 74 $7,395 $99,932
    Commercial & Industrial, US addressed loans - $250k-1MM 160 $48,865 $305,406