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 and Refi loans. West Town Bank & Trust has a high proportion of conventional loans. They have an average proportion of FHA loans. West Town Bank & Trust has an average proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Baltimore, Morehead City, Chicago, Washington, and Virginia Beach among others. We have data for 43 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 an average 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.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.66% | 4/18/24 |
| 30 Year Conventional Refi | 6.58% | 4/18/24 |
| 30 Year Cash-out Refi | 6.79% | 4/18/24 |
| 30 Year FHA Purchase | 7.19% | 4/18/24 |
| 30 Year FHA Refi | 7.29% | 4/18/24 |
| 30 Year VA Purchase | 6.31% | 4/18/24 |
| 30 Year VA Refi | 5.82% | 4/18/24 |
| 30 Year USDA Purchase | 6.60% | 4/18/24 |
| 15 Year Conventional Purchase | 6.32% | 4/18/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
West Town Bank & Trust Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
354Origination Dollar Volume (All Markets)
$88,320,000Employee count
79Awards
West Town Bank & Trust - 2019
West Town Bank & Trust is a 2019 , due to their low .
For 2019, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 112 | $25,610,000 | $228,661 | $7,528 | 4.03% |
| Morehead City, NC (FHA|USDA|VA) | 53 | $13,345,000 | $251,792 | $4,617 | 4.27% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 35 | $10,415,000 | $297,571 | $5,006 | 4.06% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 21 | $6,775,000 | $322,619 | $7,961 | 3.92% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 12 | $3,480,000 | $290,000 | $8,179 | 3.67% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 13 | $3,105,000 | $238,846 | $7,100 | 3.93% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 12 | $2,270,000 | $189,167 | $5,665 | 4.10% |
| Elizabeth City, NC (FHA|USDA|VA) | 11 | $2,155,000 | $195,909 | $7,183 | 3.95% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 6 | $1,740,000 | $290,000 | $9,813 | 3.77% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $1,730,000 | $865,000 | $14,799 | 3.63% |
| WILMINGTON, NC (FHA|USDA|VA) | 5 | $1,645,000 | $329,000 | $6,095 | 4.23% |
| Outside of Metro Areas | 11 | $1,605,000 | $145,909 | $5,010 | 4.41% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 7 | $1,545,000 | $220,714 | $7,320 | 4.39% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 5 | $1,285,000 | $257,000 | $5,750 | 4.12% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 5 | $1,235,000 | $247,000 | $3,897 | 3.78% |
| NEW BERN, NC (FHA|USDA|VA) | 5 | $985,000 | $197,000 | $5,579 | 3.80% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $7,123 | 3.88% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $665,000 | $221,667 | $4,087 | 4.33% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $13,578 | 3.63% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $630,000 | $315,000 | $2,611 | 4.56% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $9,696 | 3.63% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $590,000 | $295,000 | $6,652 | 3.75% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $4,886 | 3.63% |
| BURLINGTON, NC (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $4,775 | 3.88% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $6,316 | 3.69% |
| MOBILE, AL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $7,230 | 3.94% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $10,618 | 4.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $15,182 | 3.38% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $4,828 | 3.56% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $10,423 | 4.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $8,012 | 3.50% |
| GREENVILLE, NC (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $2,957 | 5.63% |
| GETTYSBURG, PA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $8,526 | 4.00% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $2,836 | 3.38% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $9,282 | 3.63% |
| Coos Bay, OR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $6,965 | 4.00% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $9,057 | 3.88% |
| DOTHAN, AL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,683 | 3.75% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $6,016 | 3.50% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $3,763 | 4.00% |
| Henderson, NC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,692 | 4.25% |
| GOLDSBORO, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,821 | 3.38% |
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 2019, West Town Bank & Trust's most frequently originated type of loan was Conventional, with 155 originations. Their 2nd most popular type was VA, with 83 originations.
Loan Reason
For 2019, West Town Bank & Trust's most frequently cited loan purpose was Home Purchase, with 238 originations. The 2nd most popular reason was Refi, with 75 originations.
Loan Duration/Length
For 2019, West Town Bank & Trust's most frequently cited loan duration was 30 Year, with 305 originations. The 2nd most popular length was Other, with 26 originations.
Origination Fees/Closing Costs
West Town Bank & Trust's average total fees were $6,856, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 130 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 194 | $51,200,000 | $263,918 |
| 4-5% | 117 | $25,565,000 | $218,504 |
| 5-6% | 14 | $2,540,000 | $181,429 |
| 2.5-3% | 2 | $240,000 | $120,000 |
| 6-7% | 1 | $65,000 | $65,000 |
During 2019, West Town Bank & Trust's average interest rate for loans was 4.03%, while their most frequently originated rate bucket for loans was 3-4%, with 194 originations.
Loan Sizing
2019 saw West Town Bank & Trust place emphasis on $200k-400k loans with 185 originations, totaling $50,425,000 in origination value.
Applicant Income
West Town Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 98 originations. The second most popular income band? $100k-150k, with 62 originations.
Applicant Debt to Income Ratio
West Town Bank & Trust lent most frequently to those with DTI ratios of 30-36%, with 63 originations. The next most common DTI ratio? 20-30%, with 43 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.90%
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 origination82.49%
West Town Bank & Trust has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 26 | $8,710,000 | $335,000 |
| NA | 328 | $79,610,000 | $242,713 |
Occupancy Type Mix
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| West Town Bank & Trust | 4852 West 30th Street Cicero, IL 60804 | Full Service B&M | $18,713 |
| West Town Bank & Trust | 7820 West 26th Street North Riverside, IL 60546 | Full Service B&M | $212,095 |
For 2019, West Town Bank & Trust had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $15,346 |
| Net interest income | $11,470 |
| Total noninterest income | $9,413 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $84 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $9,329 |
| Pre-tax net operating income | $5,245 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,927 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,927 |
| Minority interest net income | $0 |
| Net income | $3,927 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,927 |
West Town Bank & Trust's gross interest income from loans was $15,346,000.
West Town Bank & Trust's net interest income from loans was $11,470,000.
West Town Bank & Trust's fee based income from loans was $84,000.
West Town Bank & Trust's net income from loans was $3,927,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,876 |
| Provision for credit losses | $2,013 |
| Total noninterest expense | $13,625 |
| Salaries and employee benefits | $9,175 |
| Premises and equipment expense | $690 |
| Additional noninterest expense | $3,760 |
| Applicable income taxes | $1,318 |
| Net charge-offs | $1,175 |
| Cash dividends | $0 |
West Town Bank & Trust's interest expense for loans was $3,876,000.
West Town Bank & Trust's payroll and benefits expense were $9,175,000.
West Town Bank & Trust's property, plant and equipment expenses $690,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 3.0% |
| Real Estate loans | 5.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 8.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| 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 | $222,465 |
| Deposits held in domestic offices | $222,465 |
| Deposits by Individuals, partnerships, and corporations | $216,647 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $869 |
| Deposits by Commercial banks and other depository institutions in U.S. | $4,949 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $59,048 |
| Demand deposits | $51,584 |
| Nontransaction accounts | $163,417 |
| Money market deposit accounts (MMDAs) | $27,096 |
| Other savings deposits (excluding MMDAs) | $10,263 |
| Total time deposits | $126,058 |
| Total time and savings deposits | $170,881 |
| Noninterest-bearing deposits | $51,596 |
| Interest-bearing deposits | $170,869 |
| Retail deposits | $155,646 |
| IRAs and Keogh plan accounts | $5,725 |
| Brokered deposits | $46,232 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $279,086 |
| Cash & Balances due from depository institutions | $16,400 |
| Interest-bearing balances | $12,595 |
| Total securities | $11,098 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $232,201 |
| Loan and leases loss allowance | $3,837 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,751 |
| Other real estate owned | $1,579 |
| Goodwill and other intangibles | $3,359 |
| All other assets | $9,698 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $279,086 |
| Total Liabilities | $242,815 |
| Total deposits | $222,465 |
| Interest-bearing deposits | $170,869 |
| Deposits held in domestic offices | $222,465 |
| % insured (estimated) | $84 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $14,500 |
| Subordinated debt | $0 |
| All other liabilities | $5,850 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $232,201 |
| Loan and leases loss allowance | $3,837 |
| Total loans and leases (domestic) | $236,038 |
| All real estate loans | $140,364 |
| Real estate loans in domestic offices | $140,364 |
| Construction and development loans | $832 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $832 |
| Loans secured by nonfarm nonresidential properties | $83,713 |
| Nonfarm nonresidential secured by owner-occupied properties | $69,317 |
| Commercial real estate & other non-farm, non-residential | $14,396 |
| Multifamily residential real estate | $7,759 |
| 1-4 family residential loans | $47,590 |
| Farmland loans | $470 |
| Loans held in foreign offices | $0 |
| Farm loans | $488 |
| Commercial and industrial loans | $95,097 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $89 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $34 |
| Other loans to individuals | $55 |
| 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 | $2,893 |
| Non 1-4 family restructured loans & leases | $2,316 |
| Total loans and leases (foreign) | $0 |
West Town Bank & Trust had $232,201,000 of loans outstanding in 2019. $140,364,000 of loans were in real estate loans. $832,000 of loans were in development loans. $7,759,000 of loans were in multifamily mortgage loans. $47,590,000 of loans were in 1-4 family mortgage loans. $488,000 of loans were in farm loans. $0 of loans were in credit card loans. $34,000 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 | 137 | $43,742 | $319,285 |
| Nonfarm, nonresidential loans - <$100k | 17 | $693 | $40,765 |
| Nonfarm, nonresidential loans - $100-250k | 45 | $6,607 | $146,822 |
| Nonfarm, nonresidential loans - $250k-1MM | 75 | $36,442 | $485,893 |
| Commercial & Industrial, US addressed loans - <$1MM | 247 | $45,955 | $186,053 |
| Commercial & Industrial, US addressed loans - <$100k | 122 | $4,726 | $38,738 |
| Commercial & Industrial, US addressed loans - $100-250k | 52 | $7,833 | $150,635 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 73 | $33,396 | $457,479 |
| Farmland loans - <$1MM | 3 | $470 | $156,667 |
| Farmland loans - <$100k | 1 | $41 | $41,000 |
| Farmland loans - $100-250k | 1 | $147 | $147,000 |
| Farmland loans - $250k-1MM | 1 | $282 | $282,000 |
| Agriculture operations loans - <$1MM | 2 | $488 | $244,000 |
| Agriculture operations loans - $100-250k | 1 | $150 | $150,000 |
| Agriculture operations loans - $250k-1MM | 1 | $338 | $338,000 |