Bankfinancial Mortgage Rates, Fees & Info
Olympia Fields, ILLEI: 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, Deltona, Dallas, Longview, and Fayetteville among others. We have data for 20 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 a below average pick rate when compared to similar lenders.
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Originations
161Origination Dollar Volume (All Markets)
$124,995,000Employee count
221Top 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) | 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% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 161 | $124,995,000 | $776,366 | $0 | 0.00% |
For 2021, Bankfinancial's most frequently originated type of loan was Conventional, with 161 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. 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 2021, Bankfinancial's most frequently cited loan purpose was Home Purchase, with 122 originations. The 2nd most popular reason was 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 2021, Bankfinancial's most frequently cited loan duration was Other, with 161 originations.
Loan Sizing
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 applications93.33%
Bankfinancial has an average approval rate.
Pick Rate
Approvals leading to origination86.96%
Bankfinancial has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 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 | 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 |
| 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 | 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 |
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 |