American Bank And Trust Company Mortgage Rates, Fees & Info

Davenport, IA

LEI: 549300AQ83ZR1PW5DB53

Tax ID: 36-4256335

5 stars - out of 5 stars, based on 24 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

American Bank And Trust Company is a smaller bank specializing in Home Purchase and Refi loans. American Bank And Trust Company 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 include Davenport, Chicago, Miami, Iowa City, and Clinton among others. American Bank And Trust Company has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. American Bank And Trust Company is typically a low fee lendor.


Originations

588

Origination Dollar Volume (All Markets)

$121,420,000

Employee count

95

Awards

American Bank and Trust Company FHA Loans silver American Bank and Trust Company 30 Year Conventional Loans bronze American Bank and Trust Company VA Loans gold
Show all (3) awards

Relative Rate

American Bank And Trust Company's average 30 year fixed rate mortgage of loans were 3.08%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.07%.

Relative Fees

American Bank And Trust Company's average total fees for a 30 year fixed rate mortgage are $3,190.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 430 $63,490,000 $147,651 $2,614 2.91%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 76 $38,340,000 $504,474 $3,201 3.19%
Outside of Metro Areas 18 $2,540,000 $141,111 $3,195 2.69%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $2,155,000 $2,155,000 $9,928 2.63%
IOWA CITY, IA (FHA|USDA|VA) 9 $1,685,000 $187,222 $2,538 3.03%
Clinton, IA (FHA|USDA|VA) 8 $1,290,000 $161,250 $2,395 3.05%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $1,010,000 $505,000 $4,690 3.13%
KNOXVILLE, TN (FHA|USDA|VA) 2 $970,000 $485,000 $4,576 3.19%
BOISE CITY, ID (FHA|USDA|VA) 1 $665,000 $665,000 $0 3.99%
Muscatine, IA (FHA|USDA|VA) 3 $665,000 $221,667 $4,638 3.25%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $655,000 $218,333 $2,374 2.71%
Whitewater, WI (FHA|USDA|VA) 2 $580,000 $290,000 $3,117 2.93%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $580,000 $290,000 $4,154 3.38%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $545,000 $545,000 $2,894 2.88%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $540,000 $270,000 $3,893 3.50%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 3 $495,000 $165,000 $2,464 3.55%
ROCKFORD, IL (FHA|USDA|VA) 2 $450,000 $225,000 $3,358 3.31%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $435,000 $435,000 $3,567 2.38%
Sterling, IL (FHA|USDA|VA) 2 $430,000 $215,000 $7,117 2.88%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $425,000 $425,000 $5,425 3.38%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $425,000 $425,000 $4,815 3.75%
DULUTH, MN-WI (FHA|USDA|VA) 1 $395,000 $395,000 $3,595 3.25%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $385,000 $385,000 $3,094 2.88%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $285,000 $285,000 $3,780 2.25%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $245,000 $245,000 $5,312 3.00%
LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $185,000 $185,000 $3,209 3.38%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $185,000 $185,000 $3,287 3.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $175,000 $175,000 $4,129 3.25%
TUCSON, AZ (FHA|USDA|VA) 1 $165,000 $165,000 $2,939 2.75%
DUBUQUE, IA (FHA|USDA|VA) 2 $150,000 $75,000 $2,852 1.31%
Mason City, IA (FHA|USDA|VA) 1 $145,000 $145,000 $2,055 2.63%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $135,000 $135,000 $2,784 3.25%
Platteville, WI (FHA|USDA|VA) 1 $125,000 $125,000 $2,979 4.38%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $125,000 $125,000 $3,382 2.75%
Galesburg, IL (FHA|USDA|VA) 1 $115,000 $115,000 $2,329 3.25%
LINCOLN, NE (FHA|USDA|VA) 1 $95,000 $95,000 $2,761 2.38%
EL PASO, TX (FHA|USDA|VA) 1 $75,000 $75,000 $3,841 3.75%
Burlington, IA-IL (FHA|USDA|VA) 1 $65,000 $65,000 $2,881 2.75%

American Bank And Trust Company's top markets include Davenport, Chicago, Miami, Iowa City, and Clinton among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 517 $110,145,000 $213,046 $2,429 2.95%
FHA 44 $6,450,000 $146,591 $5,746 3.13%
VA 19 $3,705,000 $195,000 $4,166 2.69%
USDA 8 $1,120,000 $140,000 $4,818 2.88%

For the 2021 period, American Bank And Trust Company's most frequently originated loan type of loans were Conventional, with 517 originations. Their 2nd most popular type is FHA, with 44 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 321 $50,815,000 $158,302 $3,074 2.81%
Refi 189 $57,875,000 $306,217 $2,461 3.04%
Cash Out Refi 70 $12,260,000 $175,143 $2,674 3.25%
Home Improvement 4 $130,000 $32,500 $495 4.00%
Other 4 $340,000 $85,000 $500 4.12%

For the 2021, American Bank And Trust Company's most frequently cited loan purpose of loans were Home Purchase, with 321 originations. The 2nd most popular reason of loans were Refi, with 189 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 390 $71,730,000 $183,923 $3,190 3.08%
15 Year 69 $14,615,000 $211,812 $2,634 2.63%
5 Year 43 $11,735,000 $272,907 $56 1.97%
Other 43 $13,355,000 $310,581 $770 3.57%
20 Year 26 $4,000,000 $153,846 $2,486 2.97%
10 Year 17 $5,985,000 $352,059 $1,534 2.19%

For the 2021, American Bank And Trust Company's most frequently cited loan length of loans were 30 Year, with 390 originations. The 2nd most popular length of loans were 15 Year, with 69 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 426 $82,160,000 $192,864
$<1k 92 $6,850,000 $74,457
$2k-3k 37 $5,285,000 $142,838
$3k-4k 8 $1,730,000 $216,250
$5k+ 1 $475,000 $475,000

$3,190 of loans were American Bank And Trust Company's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 426 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 247 $55,765,000 $225,769
2.5-3% 201 $43,415,000 $215,995
<2.5% 100 $11,790,000 $117,900
4-5% 39 $10,425,000 $267,308
5-6% 1 $25,000 $25,000

During 2021, American Bank And Trust Company's average interest rate of loans were 3.08%, while their most frequently originated rate bucket of loans were 3-4%, with 247 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 231 $32,705,000 $141,580 $3,084 3.10%
$100,000 or less 169 $9,135,000 $54,053 $1,810 2.58%
$200k-400k 144 $37,590,000 $261,042 $3,296 3.07%
$400k-600k 27 $13,005,000 $481,667 $3,494 3.04%
$600k-1MM 9 $6,575,000 $730,556 $2,331 3.55%
$1MM+ 8 $22,410,000 $2,801,250 $6,058 3.52%

2021 saw American Bank And Trust Company place emphasis on $100k-200k loans with 231 originations, totaling $32,705,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 164 $15,130,000 $92,256 $2,590 2.59%
$50k-75k 123 $17,195,000 $139,797 $2,828 2.88%
$100k-150k 99 $22,125,000 $223,485 $3,048 3.20%
$75k-100k 72 $12,210,000 $169,583 $3,114 2.93%
$150k-250k 57 $13,525,000 $237,281 $2,568 3.17%
$250k+ 49 $17,825,000 $363,776 $2,776 3.20%

American Bank And Trust Company lent most frequently to those with incomes in the $50k or less range, with 164 originations. The second most popular income band? $50k-75k, with 123 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 136 $24,040,000 $176,765 $2,705 2.96%
30-36% 106 $18,390,000 $173,491 $2,957 3.10%
<20% 83 $8,705,000 $104,880 $1,519 1.79%
42% 29 $4,425,000 $152,586 $3,348 3.42%
44% 28 $5,190,000 $185,357 $3,259 3.03%
36% 21 $3,435,000 $163,571 $3,229 3.20%
41% 18 $3,260,000 $181,111 $3,255 3.07%
38% 18 $3,350,000 $186,111 $3,210 3.24%
43% 17 $2,815,000 $165,588 $2,954 3.04%
50-60% 17 $4,015,000 $236,176 $3,323 3.41%
45% 16 $3,200,000 $200,000 $2,648 3.29%
40% 15 $2,765,000 $184,333 $2,303 2.92%
37% 14 $2,780,000 $198,571 $3,778 3.44%
46% 10 $1,760,000 $176,000 $4,483 3.09%
48% 8 $1,390,000 $173,750 $3,337 3.19%
49% 8 $1,580,000 $197,500 $3,180 2.90%
39% 8 $3,320,000 $415,000 $4,166 3.19%
47% 5 $995,000 $199,000 $2,993 3.38%
>60% 2 $410,000 $205,000 $3,725 3.38%

American Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 136 originations. The next most common DTI ratio? 30-36%, with 106 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 491 $87,375,000 $177,953 $2,783 2.94%
Not applicable 19 $18,055,000 $950,263 $0 3.88%
Asian 49 $12,325,000 $251,531 $2,819 3.12%
Not provided 11 $1,605,000 $145,909 $2,755 2.44%
Black 14 $1,360,000 $97,143 $2,892 2.06%
Native Hawaiian 3 $445,000 $148,333 $1,308 2.42%
American Indian 1 $255,000 $255,000 $7,578 2.75%

Approval Rates

Total approvals of all applications
97.42%

American Bank And Trust Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
88.19%

American Bank And Trust Company has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 588 $121,420,000 $206,497

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
588 $121,420,000 $206,497

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 27 $4,425,000 $163,889 $1,796 3.48%
40-60% 51 $15,315,000 $300,294 $2,824 2.95%
60-80% 217 $55,195,000 $254,355 $2,621 3.17%
80-100% 235 $44,655,000 $190,021 $3,575 3.16%
Over 100% 3 $775,000 $258,333 $11,154 2.50%
Under 20% 54 $790,000 $14,630 $74 0.90%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
American Mortgage Service Company FHA mortgage Closing on a mortgage 2 66.7%
American Mortgage Service Company Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
American Bank and Trust Company, National Association 2401 Kaneville Road Geneva, IL 60134 Full Service B&M $24,957
American Bank and Trust Company, National Association 1209 21st Avenue Rock Island, IL 61201 Limited, Mobile/Seasonal Office $2,659
American Bank and Trust Company, National Association 2013 2nd Ave Rock Island, IL 61201 Full Service B&M $48,481
American Bank and Trust Company, National Association 2340 41st Street Moline, IL 61265 Full Service B&M $42,239
American Bank and Trust Company, National Association 2580 Foxfield Road, 2nd Floor Saint Charles, IL 60174 Limited, Trust Office $0
American Bank and Trust Company, National Association 3730 18th Avenue Rock Island, IL 61201 Full Service B&M $117,059
American Bank and Trust Company, National Association 4301 East 53rd Street Davenport, IA 52807 Full Service B&M $160,788
American Bank and Trust Company, National Association 8 South Main Street Elburn, IL 60119 Full Service B&M $30,951

For 2021, American Bank And Trust Company had 8 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $12,491
Net interest income $11,451
Total noninterest income $6,230
Gross Fiduciary activities income $1,332
Service charges on deposit accounts $305
Trading account gains and fees $0
Additional Noninterest Income $4,593
Pre-tax net operating income $3,721
Securities gains (or losses, -) $242
Income before extraordinary items $3,820
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $3,820
Minority interest net income $0
Net income $3,820
Sale, conversion, retirement of capital stock, net $0
Net operating income $3,587

American Bank And Trust Company's gross interest income from loans was $12,491,000.
American Bank And Trust Company's net interest income from loans was $11,451,000.
American Bank And Trust Company's fee based income from loans was $305,000.
American Bank And Trust Company's net income from loans was $3,820,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,040
Provision for credit losses $-700
Total noninterest expense $14,660
Salaries and employee benefits $8,083
Premises and equipment expense $1,521
Additional noninterest expense $5,056
Applicable income taxes $143
Net charge-offs $-43
Cash dividends $1,100

American Bank And Trust Company's interest expense for loans was $1,040,000.
American Bank And Trust Company's payroll and benefits expense were $8,083,000.
American Bank And Trust Company's property, plant and equipment expenses $1,521,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 1.0%
Real Estate loans 1.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 3.0%
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 $405,136
Deposits held in domestic offices $405,136
Deposits by Individuals, partnerships, and corporations $371,422
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $33,714
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 $242,064
Demand deposits $147,178
Nontransaction accounts $163,072
Money market deposit accounts (MMDAs) $77,550
Other savings deposits (excluding MMDAs) $39,160
Total time deposits $46,361
Total time and savings deposits $257,958
Noninterest-bearing deposits $147,178
Interest-bearing deposits $257,958
Retail deposits $386,639
IRAs and Keogh plan accounts $6,113
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $469,148
Cash & Balances due from depository institutions $6,920
Interest-bearing balances $419
Total securities $156,363
Federal funds sold & reverse repurchase $0
Net loans and leases $275,972
Loan and leases loss allowance $3,913
Trading account assets $0
Bank premises and fixed assets $14,065
Other real estate owned $627
Goodwill and other intangibles $358
All other assets $14,843

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $469,148
Total Liabilities $426,349
Total deposits $405,136
Interest-bearing deposits $257,958
Deposits held in domestic offices $405,136
% insured (estimated) $59
Federal funds purchased and repurchase agreements $8,500
Trading liabilities $0
Other borrowed funds $11,500
Subordinated debt $0
All other liabilities $1,213

Issued Loan Types

Type Value (in 000's)
Net loans and leases $275,972
Loan and leases loss allowance $3,913
Total loans and leases (domestic) $279,885
All real estate loans $233,432
Real estate loans in domestic offices $233,432
Construction and development loans $67,512
Residential 1-4 family construction $1,708
Other construction, all land development and other land $65,804
Loans secured by nonfarm nonresidential properties $87,080
Nonfarm nonresidential secured by owner-occupied properties $53,770
Commercial real estate & other non-farm, non-residential $33,310
Multifamily residential real estate $17,278
1-4 family residential loans $61,428
Farmland loans $134
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $38,715
To non-U.S. addressees $0
Loans to individuals $7,427
Credit card loans $633
Related Plans $56
Consumer Auto Loans $2,110
Other loans to individuals $4,628
All other loans & leases $313
Loans to foreign governments and official institutions $0
Other loans $313
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

American Bank and Trust Company had $275,972,000 of loans outstanding in 2021. $233,432,000 of loans were in real estate loans. $67,512,000 of loans were in development loans. $17,278,000 of loans were in multifamily mortgage loans. $61,428,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $633,000 of loans were in credit card loans. $2,110,000 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 $30,103 $198,046
Nonfarm, nonresidential loans - <$100k 50 $1,945 $38,900
Nonfarm, nonresidential loans - $100-250k 49 $7,279 $148,551
Nonfarm, nonresidential loans - $250k-1MM 53 $20,879 $393,943
Commercial & Industrial, US addressed loans - <$1MM 137 $18,926 $138,146
Commercial & Industrial, US addressed loans - <$100k 62 $1,719 $27,726
Commercial & Industrial, US addressed loans - $100-250k 26 $2,278 $87,615
Commercial & Industrial, US addressed loans - $250k-1MM 49 $14,929 $304,673
Farmland loans - <$1MM 1 $134 $134,000
Farmland loans - $250k-1MM 1 $134 $134,000