West Town Bank & Trust Mortgage Rates, Fees & Info
North Riverside, ILLEI: 5493009ZQ1VZ1HZCL108
Tax ID: 36-1950478
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Review & Overview
West Town Bank & Trust is a smaller bank specializing in Home Purchase loans. West Town Bank & Trust has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Baltimore, Morehead City, Chicago, Tampa, and Washington among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)West Town Bank & Trust 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. West Town Bank & Trust is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
249Origination Dollar Volume (All Markets)
$59,795,000Employee count
78Top 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 |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 78 | $18,540,000 | $237,692 | $8,063 | 4.62% |
| Morehead City, NC (FHA|USDA|VA) | 59 | $12,815,000 | $217,203 | $3,740 | 4.64% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 14 | $3,960,000 | $282,857 | $6,932 | 4.94% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 15 | $3,445,000 | $229,667 | $6,305 | 4.53% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 10 | $3,070,000 | $307,000 | $9,594 | 4.56% |
| COLUMBUS, IN (FHA|USDA|VA) | 1 | $2,205,000 | $2,205,000 | $0 | 4.75% |
| Outside of Metro Areas | 12 | $1,980,000 | $165,000 | $4,326 | 4.77% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 5 | $1,545,000 | $309,000 | $10,378 | 4.48% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 5 | $1,515,000 | $303,000 | $9,461 | 4.65% |
| SAVANNAH, GA (FHA|USDA|VA) | 4 | $950,000 | $237,500 | $8,528 | 4.66% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 4 | $850,000 | $212,500 | $7,335 | 4.72% |
| Elizabeth City, NC (FHA|USDA|VA) | 5 | $805,000 | $161,000 | $4,886 | 4.65% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $10,165 | 4.56% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $6,718 | 4.50% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $4,273 | 4.50% |
| MOBILE, AL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $4,834 | 4.31% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $4,120 | 4.67% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $7,248 | 4.38% |
| NEW BERN, NC (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $5,230 | 5.06% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $14,174 | 4.50% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $13,811 | 4.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $3,364 | 4.88% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $11,693 | 3.88% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $13,401 | 4.50% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $8,847 | 4.75% |
| Washington, NC (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $3,317 | 4.63% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $8,355 | 4.50% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $14,157 | 4.25% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $2,980 | 4.88% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,903 | 4.38% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,674 | 4.38% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,861 | 4.75% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $6,452 | 4.88% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $6,198 | 4.75% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $6,880 | 4.63% |
| Statesboro, GA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,914 | 4.50% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $5,201 | 4.38% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,712 | 4.63% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $3,967 | 5.13% |
Similar Lenders
We use machine learning to identify the top lenders compared against West Town Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2018, West Town Bank & Trust's most frequently originated type of loan was Conventional, with 123 originations. Their 2nd most popular type was FHA, with 57 originations.
Loan Reason
For 2018, West Town Bank & Trust's most frequently cited loan purpose was Home Purchase, with 198 originations. The 2nd most popular reason was Refi, with 31 originations.
Loan Duration/Length
For 2018, West Town Bank & Trust's most frequently cited loan duration was 30 Year, with 212 originations. The 2nd most popular length was 15 Year, with 15 originations.
Origination Fees/Closing Costs
West Town Bank & Trust's average total fees were $6,784, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 111 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 221 | $52,835,000 | $239,072 |
| 5-6% | 18 | $4,350,000 | $241,667 |
| 3-4% | 10 | $2,610,000 | $261,000 |
During 2018, West Town Bank & Trust's average interest rate for loans was 4.63%, while their most frequently originated rate bucket for loans was 4-5%, with 221 originations.
Loan Sizing
2018 saw West Town Bank & Trust place emphasis on $200k-400k loans with 126 originations, totaling $33,770,000 in origination value.
Applicant Income
West Town Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 61 originations. The second most popular income band? $50k or less, with 59 originations.
Applicant Debt to Income Ratio
West Town Bank & Trust lent most frequently to those with DTI ratios of 30-36%, with 40 originations. The next most common DTI ratio? 20-30%, with 38 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.78%
West Town Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.53%
West Town Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 249 | $59,795,000 | $240,141 |
Occupancy Type Mix
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| West Town Bank & Trust | 216 S Broad St Edenton, NC 27932 | Full Service B&M | $16,933 |
| West Town Bank & Trust | 4051 South Memorial Drive Winterville, NC 28590 | Full Service B&M | $14,767 |
| West Town Bank & Trust | 4852 West 30th Street Cicero, IL 60804 | Full Service B&M | $19,957 |
| West Town Bank & Trust | 7820 West 26th Street North Riverside, IL 60546 | Full Service B&M | $158,075 |
For 2018, West Town Bank & Trust had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $16,827 |
| Net interest income | $13,285 |
| Total noninterest income | $11,670 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $65 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $11,605 |
| Pre-tax net operating income | $9,654 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $7,128 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $7,128 |
| Minority interest net income | $0 |
| Net income | $7,128 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $7,128 |
West Town Bank & Trust's gross interest income from loans was $16,827,000.
West Town Bank & Trust's net interest income from loans was $13,285,000.
West Town Bank & Trust's fee based income from loans was $65,000.
West Town Bank & Trust's net income from loans was $7,128,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,542 |
| Provision for credit losses | $1,146 |
| Total noninterest expense | $14,155 |
| Salaries and employee benefits | $9,205 |
| Premises and equipment expense | $769 |
| Additional noninterest expense | $4,181 |
| Applicable income taxes | $2,526 |
| Net charge-offs | $1,388 |
| Cash dividends | $6,808 |
West Town Bank & Trust's interest expense for loans was $3,542,000.
West Town Bank & Trust's payroll and benefits expense were $9,205,000.
West Town Bank & Trust's property, plant and equipment expenses $769,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 3.0% |
| Real Estate loans | 3.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 4.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 1.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 1.0% |
| 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 | $197,011 |
| Deposits held in domestic offices | $197,011 |
| Deposits by Individuals, partnerships, and corporations | $195,920 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $1,092 |
| 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 | $44,381 |
| Demand deposits | $33,522 |
| Nontransaction accounts | $152,631 |
| Money market deposit accounts (MMDAs) | $26,279 |
| Other savings deposits (excluding MMDAs) | $14,674 |
| Total time deposits | $111,678 |
| Total time and savings deposits | $163,490 |
| Noninterest-bearing deposits | $33,522 |
| Interest-bearing deposits | $163,489 |
| Retail deposits | $127,825 |
| IRAs and Keogh plan accounts | $4,360 |
| Brokered deposits | $57,477 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $261,336 |
| Cash & Balances due from depository institutions | $22,607 |
| Interest-bearing balances | $20,590 |
| Total securities | $11,608 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $209,439 |
| Loan and leases loss allowance | $3,000 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,833 |
| Other real estate owned | $723 |
| Goodwill and other intangibles | $3,952 |
| All other assets | $8,174 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $261,336 |
| Total Liabilities | $229,153 |
| Total deposits | $197,011 |
| Interest-bearing deposits | $163,489 |
| Deposits held in domestic offices | $197,011 |
| % insured (estimated) | $90 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $25,000 |
| Subordinated debt | $0 |
| All other liabilities | $7,142 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $209,439 |
| Loan and leases loss allowance | $3,000 |
| Total loans and leases (domestic) | $212,439 |
| All real estate loans | $145,659 |
| Real estate loans in domestic offices | $145,659 |
| Construction and development loans | $135 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $135 |
| Loans secured by nonfarm nonresidential properties | $96,393 |
| Nonfarm nonresidential secured by owner-occupied properties | $86,245 |
| Commercial real estate & other non-farm, non-residential | $10,148 |
| Multifamily residential real estate | $4,253 |
| 1-4 family residential loans | $44,593 |
| Farmland loans | $285 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $66,731 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $49 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $17 |
| Other loans to individuals | $32 |
| All other loans & leases | $0 |
| 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 | $719 |
| Non 1-4 family restructured loans & leases | $135 |
| Total loans and leases (foreign) | $0 |
West Town Bank & Trust had $209,439,000 of loans outstanding in 2018. $145,659,000 of loans were in real estate loans. $135,000 of loans were in development loans. $4,253,000 of loans were in multifamily mortgage loans. $44,593,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $17,000 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 | 152 | $48,933 | $321,928 |
| Nonfarm, nonresidential loans - <$100k | 30 | $781 | $26,033 |
| Nonfarm, nonresidential loans - $100-250k | 44 | $7,228 | $164,273 |
| Nonfarm, nonresidential loans - $250k-1MM | 78 | $40,924 | $524,667 |
| Commercial & Industrial, US addressed loans - <$1MM | 215 | $36,005 | $167,465 |
| Commercial & Industrial, US addressed loans - <$100k | 120 | $4,087 | $34,058 |
| Commercial & Industrial, US addressed loans - $100-250k | 45 | $7,280 | $161,778 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 50 | $24,638 | $492,760 |
| Farmland loans - <$1MM | 1 | $285 | $285,000 |
| Farmland loans - $250k-1MM | 1 | $285 | $285,000 |