West Town Bank & Trust Mortgage Rates, Fees & Info
North Riverside, ILLEI: 5493009ZQ1VZ1HZCL108
Tax ID: 36-1950478
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Bank Data
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. They have a low ratio of USDA loans. Their top markets by origination volume include: Baltimore, Morehead City, Washington, Virginia Beach, and Elizabeth City among others. We have data for 77 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.
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% | 11/21/24 |
| 30 Year Conventional Refi | 6.58% | 11/21/24 |
| 30 Year Cash-out Refi | 6.79% | 11/21/24 |
| 30 Year FHA Purchase | 7.19% | 11/21/24 |
| 30 Year FHA Refi | 7.29% | 11/21/24 |
| 30 Year VA Purchase | 6.31% | 11/21/24 |
| 30 Year VA Refi | 5.82% | 11/21/24 |
| 30 Year USDA Purchase | 6.60% | 11/21/24 |
| 15 Year Conventional Purchase | 6.32% | 11/21/24 |
| 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
613Origination Dollar Volume (All Markets)
$159,055,000Employee count
74Top 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) | 195 | $49,745,000 | $255,103 | $0 | 0.00% |
| Morehead City, NC (FHA|USDA|VA) | 61 | $15,285,000 | $250,574 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 30 | $10,830,000 | $361,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 30 | $8,550,000 | $285,000 | $0 | 0.00% |
| Elizabeth City, NC (FHA|USDA|VA) | 25 | $5,865,000 | $234,600 | $0 | 0.00% |
| Outside of Metro Areas | 24 | $5,760,000 | $240,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 20 | $5,150,000 | $257,500 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 21 | $5,105,000 | $243,095 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 14 | $4,110,000 | $293,571 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 10 | $4,000,000 | $400,000 | $0 | 0.00% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 18 | $3,560,000 | $197,778 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 5 | $3,065,000 | $613,000 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 11 | $2,975,000 | $270,455 | $0 | 0.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 10 | $2,840,000 | $284,000 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 14 | $2,510,000 | $179,286 | $0 | 0.00% |
| NEW BERN, NC (FHA|USDA|VA) | 10 | $2,150,000 | $215,000 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 5 | $1,565,000 | $313,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 4 | $1,290,000 | $322,500 | $0 | 0.00% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 6 | $1,230,000 | $205,000 | $0 | 0.00% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 5 | $1,195,000 | $239,000 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 3 | $1,025,000 | $341,667 | $0 | 0.00% |
| MOBILE, AL (FHA|USDA|VA) | 5 | $985,000 | $197,000 | $0 | 0.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $0 | 0.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 4 | $850,000 | $212,500 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 4 | $840,000 | $210,000 | $0 | 0.00% |
| GREENVILLE, NC (FHA|USDA|VA) | 6 | $770,000 | $128,333 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $750,000 | $375,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 4 | $720,000 | $180,000 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $0 | 0.00% |
| Astoria, OR (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 0.00% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 0.00% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 0.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 0.00% |
| GETTYSBURG, PA (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $0 | 0.00% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $420,000 | $210,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
| NILES, MI (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| Boone, NC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| Sanford, NC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| GOLDSBORO, NC (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| Poplar Bluff, MO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| DULUTH, MN-WI (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| ASHEVILLE, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| TOPEKA, KS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Fort Leonard Wood, MO (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| TALLAHASSEE, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Sault Ste. Marie, MI (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| CLARKSVILLE, TN-KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| BURLINGTON, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| West Plains, MO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| HINESVILLE, GA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Lumberton, NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| FLORENCE, SC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
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Product Mix
For 2020, West Town Bank & Trust's most frequently originated type of loan was Conventional, with 361 originations. Their 2nd most popular type was VA, with 161 originations.
Loan Reason
For 2020, West Town Bank & Trust's most frequently cited loan purpose was Home Purchase, with 283 originations. The 2nd most popular reason was Refi, with 275 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 613 | $159,055,000 | $259,470 | $0 | 0.00% |
For 2020, West Town Bank & Trust's most frequently cited loan duration was Other, with 613 originations.
Loan Sizing
2020 saw West Town Bank & Trust place emphasis on $200k-400k loans with 350 originations, totaling $97,140,000 in origination value.
Applicant Income
West Town Bank & Trust lent most frequently to those with incomes in the $50k or less range, with 180 originations. The second most popular income band? $50k-75k, with 130 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 613 | $159,055,000 | $259,470 | $0 | 0.00% |
West Town Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 613 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.40%
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 origination88.09%
West Town Bank & Trust has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 613 | $159,055,000 | $259,470 |
Occupancy Type Mix
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 | $16,987 |
| West Town Bank & Trust | 7820 West 26th Street North Riverside, IL 60546 | Full Service B&M | $249,150 |
For 2020, West Town Bank & Trust had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $14,614 |
| Net interest income | $11,255 |
| Total noninterest income | $11,282 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $65 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $11,217 |
| Pre-tax net operating income | $-89 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $-293 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $-293 |
| Minority interest net income | $-161 |
| Net income | $-132 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $-293 |
West Town Bank & Trust's gross interest income from loans was $14,614,000.
West Town Bank & Trust's net interest income from loans was $11,255,000.
West Town Bank & Trust's fee based income from loans was $65,000.
West Town Bank & Trust's net income from loans was $-132,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,359 |
| Provision for credit losses | $4,460 |
| Total noninterest expense | $18,166 |
| Salaries and employee benefits | $11,703 |
| Premises and equipment expense | $496 |
| Additional noninterest expense | $5,967 |
| Applicable income taxes | $204 |
| Net charge-offs | $3,154 |
| Cash dividends | $0 |
West Town Bank & Trust's interest expense for loans was $3,359,000.
West Town Bank & Trust's payroll and benefits expense were $11,703,000.
West Town Bank & Trust's property, plant and equipment expenses $496,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 2.0% |
| Real Estate loans | 5.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 10.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 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 | $306,662 |
| Deposits held in domestic offices | $306,662 |
| Deposits by Individuals, partnerships, and corporations | $303,893 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $802 |
| Deposits by Commercial banks and other depository institutions in U.S. | $1,967 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $97,955 |
| Demand deposits | $86,570 |
| Nontransaction accounts | $208,707 |
| Money market deposit accounts (MMDAs) | $32,565 |
| Other savings deposits (excluding MMDAs) | $11,031 |
| Total time deposits | $165,111 |
| Total time and savings deposits | $220,092 |
| Noninterest-bearing deposits | $86,627 |
| Interest-bearing deposits | $220,035 |
| Retail deposits | $222,050 |
| IRAs and Keogh plan accounts | $8,678 |
| Brokered deposits | $58,341 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $357,896 |
| Cash & Balances due from depository institutions | $35,017 |
| Interest-bearing balances | $31,403 |
| Total securities | $15,721 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $286,948 |
| Loan and leases loss allowance | $5,144 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,656 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $3,456 |
| All other assets | $12,098 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $357,896 |
| Total Liabilities | $321,736 |
| Total deposits | $306,662 |
| Interest-bearing deposits | $220,035 |
| Deposits held in domestic offices | $306,662 |
| % insured (estimated) | $79 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $4,000 |
| Subordinated debt | $0 |
| All other liabilities | $11,074 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $286,948 |
| Loan and leases loss allowance | $5,144 |
| Total loans and leases (domestic) | $292,092 |
| All real estate loans | $131,899 |
| Real estate loans in domestic offices | $131,899 |
| Construction and development loans | $8,635 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $8,635 |
| Loans secured by nonfarm nonresidential properties | $73,352 |
| Nonfarm nonresidential secured by owner-occupied properties | $67,780 |
| Commercial real estate & other non-farm, non-residential | $5,572 |
| Multifamily residential real estate | $10,863 |
| 1-4 family residential loans | $38,581 |
| Farmland loans | $468 |
| Loans held in foreign offices | $0 |
| Farm loans | $2,094 |
| Commercial and industrial loans | $157,941 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $159 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $122 |
| Other loans to individuals | $37 |
| 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 | $787 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
West Town Bank & Trust had $286,948,000 of loans outstanding in 2020. $131,899,000 of loans were in real estate loans. $8,635,000 of loans were in development loans. $10,863,000 of loans were in multifamily mortgage loans. $38,581,000 of loans were in 1-4 family mortgage loans. $2,094,000 of loans were in farm loans. $0 of loans were in credit card loans. $122,000 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 | 161 | $47,421 | $294,540 |
| Nonfarm, nonresidential loans - <$100k | 49 | $1,764 | $36,000 |
| Nonfarm, nonresidential loans - $100-250k | 41 | $7,211 | $175,878 |
| Nonfarm, nonresidential loans - $250k-1MM | 71 | $38,446 | $541,493 |
| Commercial & Industrial, US addressed loans - <$1MM | 536 | $68,030 | $126,922 |
| Commercial & Industrial, US addressed loans - <$100k | 381 | $10,006 | $26,262 |
| Commercial & Industrial, US addressed loans - $100-250k | 67 | $11,165 | $166,642 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 88 | $46,859 | $532,489 |
| Farmland loans - <$1MM | 4 | $468 | $117,000 |
| Farmland loans - <$100k | 3 | $189 | $63,000 |
| Farmland loans - $250k-1MM | 1 | $279 | $279,000 |
| Agriculture operations loans - <$1MM | 3 | $613 | $204,333 |
| Agriculture operations loans - $100-250k | 2 | $302 | $151,000 |
| Agriculture operations loans - $250k-1MM | 1 | $311 | $311,000 |