Mchenry Savings Bank Mortgage Rates, Fees & Info

McHenry, IL

LEI: 549300BST16INX89WU46

Tax ID: 36-2315815

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Mchenry Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Mchenry Savings Bank has a high proportion of conventional loans. Their top (well, only) market is Chicago.

    Mchenry Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Mchenry Savings Bank 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.

    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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    Originations

    30

    Origination Dollar Volume (All Markets)

    $4,430,000

    Employee count

    49

    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
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 28 $4,300,000 $153,571 $1,635 4.77%
    Outside of Metro Areas 2 $130,000 $65,000 $1,978 4.38%
    Mchenry Savings Bank's top markets include and Chicago among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 30 $4,430,000 $147,667 $1,662 4.74%

    For 2018, Mchenry Savings Bank's most frequently originated type of loan was Conventional, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 14 $2,220,000 $158,571 $1,113 4.72%
    Home Purchase 12 $1,980,000 $165,000 $2,501 4.66%
    Home Improvement 2 $60,000 $30,000 $350 5.88%
    Other 2 $170,000 $85,000 $1,424 4.25%

    For 2018, Mchenry Savings Bank's most frequently cited loan purpose was Refi, with 14 originations. The 2nd most popular reason was Home Purchase, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 8 $960,000 $120,000 $1,844 4.59%
    15 Year 6 $1,040,000 $173,333 $1,762 4.23%
    30 Year 5 $1,265,000 $253,000 $2,841 4.38%
    5 Year 4 $180,000 $45,000 $618 4.81%
    10 Year 3 $95,000 $31,667 $709 5.42%
    Other 3 $845,000 $281,667 $1,114 5.33%
    1 Year 1 $45,000 $45,000 $0 6.75%

    For 2018, Mchenry Savings Bank's most frequently cited loan duration was 20 Year, with 8 originations. The 2nd most popular length was 15 Year, with 6 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 25 $3,465,000 $138,600

    Mchenry Savings Bank's average total fees were $2,841, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 25 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 21 $2,975,000 $141,667
    5-6% 5 $865,000 $173,000
    3-4% 3 $545,000 $181,667
    6-7% 1 $45,000 $45,000

    During 2018, Mchenry Savings Bank's average interest rate for loans was 4.38%, while their most frequently originated rate bucket for loans was 4-5%, with 21 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 12 $550,000 $45,833 $1,017 5.14%
    $100k-200k 11 $1,395,000 $126,818 $2,397 4.48%
    $200k-400k 5 $1,535,000 $307,000 $1,759 4.38%
    $400k-600k 2 $950,000 $475,000 $1,011 4.75%

    2018 saw Mchenry Savings Bank place emphasis on $100,000 or less loans with 12 originations, totaling $550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 8 $1,050,000 $131,250 $2,024 4.63%
    $100k-150k 6 $860,000 $143,333 $1,639 4.67%
    $150k-250k 5 $1,375,000 $275,000 $1,819 4.58%
    $50k or less 5 $355,000 $71,000 $1,152 4.58%
    $75k-100k 4 $210,000 $52,500 $1,539 4.88%
    $250k+ 1 $535,000 $535,000 $0 5.25%

    Mchenry Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $100k-150k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 9 $1,785,000 $198,333 $1,777 4.57%
    20-30% 5 $475,000 $95,000 $1,933 4.53%
    <20% 4 $620,000 $155,000 $883 4.88%
    43% 3 $615,000 $205,000 $1,259 4.75%
    46% 2 $280,000 $140,000 $877 5.00%
    47% 1 $105,000 $105,000 $3,951 4.25%
    >60% 1 $5,000 $5,000 $350 5.00%
    37% 1 $85,000 $85,000 $0 5.75%
    41% 1 $125,000 $125,000 $1,114 5.00%
    42% 1 $185,000 $185,000 $3,985 4.00%
    44% 1 $105,000 $105,000 $1,508 4.00%

    Mchenry Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 9 originations. The next most common DTI ratio? 20-30%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 29 $4,385,000 $151,207 $1,662 4.67%
    Not applicable 1 $45,000 $45,000 $0 6.75%

    Approval Rates

    Total approvals of all applications
    96.88%

    Mchenry Savings Bank 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
    96.67%

    Mchenry Savings Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 30 $4,430,000 $147,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 30 $4,430,000 $147,667

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $170,000 $85,000 $1,424 4.25%
    40-60% 7 $1,245,000 $177,857 $1,389 5.05%
    60-80% 11 $1,495,000 $135,909 $2,373 4.36%
    80-100% 3 $895,000 $298,333 $2,422 5.04%
    Over 100% 2 $520,000 $260,000 $1,414 4.13%
    Under 20% 5 $105,000 $21,000 $350 5.40%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MCS MORTGAGE BANKERS, INC. Conventional home mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    McHenry Savings Bank 10520 North Main Street Richmond, IL 60071 Full Service B&M $20,341
    McHenry Savings Bank 353 Bank Drive Mchenry, IL 60050 Full Service B&M $139,062
    McHenry Savings Bank 4000-M N. Wilmot Road Mchenry, IL 60051 Full Service B&M $16,319

    For 2018, Mchenry Savings Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,210
    Net interest income $7,000
    Total noninterest income $796
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $196
    Trading account gains and fees $0
    Additional Noninterest Income $600
    Pre-tax net operating income $-734
    Securities gains (or losses, -) $-555
    Income before extraordinary items $-1,289
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $-1,289
    Minority interest net income $0
    Net income $-1,289
    Sale, conversion, retirement of capital stock, net $14
    Net operating income $-734

    Mchenry Savings Bank's gross interest income from loans was $8,210,000.
    Mchenry Savings Bank's net interest income from loans was $7,000,000.
    Mchenry Savings Bank's fee based income from loans was $196,000.
    Mchenry Savings Bank's net income from loans was $-1,289,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,210
    Provision for credit losses $326
    Total noninterest expense $8,204
    Salaries and employee benefits $3,692
    Premises and equipment expense $1,100
    Additional noninterest expense $3,412
    Applicable income taxes $0
    Net charge-offs $966
    Cash dividends $0

    Mchenry Savings Bank's interest expense for loans was $1,210,000.
    Mchenry Savings Bank's payroll and benefits expense were $3,692,000.
    Mchenry Savings Bank's property, plant and equipment expenses $1,100,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 3.0%
    Real Estate loans 4.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 4.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 4.0%
    HELOC loans 0.0%
    All other family 4.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $164,297
    Deposits held in domestic offices $164,297
    Deposits by Individuals, partnerships, and corporations $137,523
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $26,774
    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 $82,964
    Demand deposits $27,724
    Nontransaction accounts $81,333
    Money market deposit accounts (MMDAs) $20,144
    Other savings deposits (excluding MMDAs) $1,470
    Total time deposits $59,719
    Total time and savings deposits $136,573
    Noninterest-bearing deposits $27,724
    Interest-bearing deposits $136,573
    Retail deposits $140,418
    IRAs and Keogh plan accounts $10,055
    Brokered deposits $7,231
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $201,650
    Cash & Balances due from depository institutions $13,179
    Interest-bearing balances $9,559
    Total securities $46,563
    Federal funds sold & reverse repurchase $0
    Net loans and leases $129,466
    Loan and leases loss allowance $1,080
    Trading account assets $0
    Bank premises and fixed assets $8,392
    Other real estate owned $1,252
    Goodwill and other intangibles $0
    All other assets $2,798

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $201,650
    Total Liabilities $180,700
    Total deposits $164,297
    Interest-bearing deposits $136,573
    Deposits held in domestic offices $164,297
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $15,251
    Subordinated debt $0
    All other liabilities $1,152

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $129,466
    Loan and leases loss allowance $1,080
    Total loans and leases (domestic) $130,546
    All real estate loans $87,226
    Real estate loans in domestic offices $87,226
    Construction and development loans $1,842
    Residential 1-4 family construction $1,502
    Other construction, all land development and other land $340
    Loans secured by nonfarm nonresidential properties $17,572
    Nonfarm nonresidential secured by owner-occupied properties $13,139
    Commercial real estate & other non-farm, non-residential $4,433
    Multifamily residential real estate $1,023
    1-4 family residential loans $66,789
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $12,531
    To non-U.S. addressees $0
    Loans to individuals $29,533
    Credit card loans $0
    Related Plans $87
    Consumer Auto Loans $2,013
    Other loans to individuals $27,433
    All other loans & leases $1,256
    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 $2,715
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $350
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    McHenry Savings Bank had $129,466,000 of loans outstanding in 2018. $87,226,000 of loans were in real estate loans. $1,842,000 of loans were in development loans. $1,023,000 of loans were in multifamily mortgage loans. $66,789,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,013,000 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 88 $15,495 $176,080
    Nonfarm, nonresidential loans - <$100k 23 $842 $36,609
    Nonfarm, nonresidential loans - $100-250k 34 $4,264 $125,412
    Nonfarm, nonresidential loans - $250k-1MM 31 $10,389 $335,129
    Commercial & Industrial, US addressed loans - <$1MM 172 $11,252 $65,419
    Commercial & Industrial, US addressed loans - <$100k 114 $4,029 $35,342
    Commercial & Industrial, US addressed loans - $100-250k 47 $4,210 $89,574
    Commercial & Industrial, US addressed loans - $250k-1MM 11 $3,013 $273,909