Mchenry Savings Bank Mortgage Rates, Fees & Info

McHenry, IL

LEI: 549300BST16INX89WU46

Tax ID: 36-2315815

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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 loans. Mchenry Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Bridgeport, and Lansing among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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

    18

    Origination Dollar Volume (All Markets)

    $4,060,000

    Employee count

    50

    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) 16 $3,750,000 $234,375 $1,791 4.37%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $245,000 $245,000 $0 4.50%
    LANSING-EAST LANSING, MI (FHA|USDA|VA) 1 $65,000 $65,000 $2,145 4.88%
    Mchenry Savings Bank's top markets include Chicago, Bridgeport, and Lansing among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 18 $4,060,000 $225,556 $1,821 4.40%

    For 2019, Mchenry Savings Bank's most frequently originated type of loan was Conventional, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 13 $3,335,000 $256,538 $1,091 4.39%
    Home Purchase 4 $690,000 $172,500 $3,280 4.29%
    Other 1 $35,000 $35,000 $0 4.95%

    For 2019, Mchenry Savings Bank's most frequently cited loan purpose was Refi, with 13 originations. The 2nd most popular reason was Home Purchase, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 5 $1,285,000 $257,000 $1,159 4.72%
    5 Year 4 $1,790,000 $447,500 $1,931 4.44%
    10 Year 3 $145,000 $48,333 $1,727 4.12%
    15 Year 2 $210,000 $105,000 $1,457 4.25%
    20 Year 2 $220,000 $110,000 $1,420 4.06%
    30 Year 2 $410,000 $205,000 $2,947 4.43%

    For 2019, Mchenry Savings Bank's most frequently cited loan duration was Other, with 5 originations. The 2nd most popular length was 5 Year, with 4 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 11 $1,315,000 $119,545

    Mchenry Savings Bank's average total fees were $2,947, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 11 $2,435,000 $221,364
    3-4% 6 $900,000 $150,000
    5-6% 1 $725,000 $725,000

    During 2019, Mchenry Savings Bank's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 4-5%, with 11 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 8 $460,000 $57,500 $1,508 4.38%
    $100k-200k 4 $530,000 $132,500 $1,344 4.42%
    $200k-400k 3 $805,000 $268,333 $3,630 4.09%
    $600k-1MM 3 $2,265,000 $755,000 $0 4.74%

    2019 saw Mchenry Savings Bank place emphasis on $100,000 or less loans with 8 originations, totaling $460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 3 $675,000 $225,000 $2,806 3.93%
    $50k-75k 3 $175,000 $58,333 $961 4.25%
    $50k or less 3 $275,000 $91,667 $1,711 4.29%
    $75k-100k 2 $190,000 $95,000 $2,557 4.56%
    $100k-150k 1 $35,000 $35,000 $299 4.10%
    $250k+ 1 $725,000 $725,000 $0 5.25%

    Mchenry Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 3 originations. The second most popular income band? $50k-75k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 5 $475,000 $95,000 $2,411 4.16%
    <20% 2 $760,000 $380,000 $299 4.68%
    30-36% 2 $220,000 $110,000 $1,383 4.31%
    36% 2 $460,000 $230,000 $2,454 4.00%
    39% 1 $35,000 $35,000 $350 5.00%
    45% 1 $125,000 $125,000 $1,474 4.13%

    Mchenry Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 5 originations. The next most common DTI ratio? <20%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 14 $2,110,000 $150,714 $1,821 4.35%
    Not applicable 4 $1,950,000 $487,500 $0 4.60%

    Approval Rates

    Total approvals of all applications
    95.24%

    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
    94.44%

    Mchenry Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 18 $4,060,000 $225,556

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $775,000 $775,000
    Single Family (1-4 Units):Site-Built 17 $3,285,000 $193,235

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $385,000 $77,000 $1,470 4.48%
    40-60% 2 $210,000 $105,000 $1,263 4.00%
    60-80% 7 $2,405,000 $343,571 $2,192 4.49%
    80-100% 2 $250,000 $125,000 $3,512 4.37%
    Over 100% 1 $765,000 $765,000 $0 4.93%
    Under 20% 1 $45,000 $45,000 $1,166 3.75%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MCCUE MORTGAGE COMPANY, THE 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 $19,488
    McHenry Savings Bank 353 Bank Drive Mchenry, IL 60050 Full Service B&M $153,425
    McHenry Savings Bank 4000-M N. Wilmot Road Mchenry, IL 60051 Full Service B&M $13,558

    For 2019, Mchenry Savings Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,213
    Net interest income $6,648
    Total noninterest income $1,336
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $162
    Trading account gains and fees $0
    Additional Noninterest Income $1,174
    Pre-tax net operating income $81
    Securities gains (or losses, -) $98
    Income before extraordinary items $179
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $179
    Minority interest net income $0
    Net income $179
    Sale, conversion, retirement of capital stock, net $144
    Net operating income $81

    Mchenry Savings Bank's gross interest income from loans was $9,213,000.
    Mchenry Savings Bank's net interest income from loans was $6,648,000.
    Mchenry Savings Bank's fee based income from loans was $162,000.
    Mchenry Savings Bank's net income from loans was $179,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,565
    Provision for credit losses $173
    Total noninterest expense $7,730
    Salaries and employee benefits $3,778
    Premises and equipment expense $1,090
    Additional noninterest expense $2,862
    Applicable income taxes $0
    Net charge-offs $145
    Cash dividends $0

    Mchenry Savings Bank's interest expense for loans was $2,565,000.
    Mchenry Savings Bank's payroll and benefits expense were $3,778,000.
    Mchenry Savings Bank's property, plant and equipment expenses $1,090,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 0.0%
    All other family 3.0%
    Commercial & industrial loans 3.0%
    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 $179,860
    Deposits held in domestic offices $179,860
    Deposits by Individuals, partnerships, and corporations $148,234
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $13,818
    Deposits by Commercial banks and other depository institutions in U.S. $17,808
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $75,792
    Demand deposits $27,299
    Nontransaction accounts $104,068
    Money market deposit accounts (MMDAs) $24,003
    Other savings deposits (excluding MMDAs) $1,409
    Total time deposits $78,655
    Total time and savings deposits $152,561
    Noninterest-bearing deposits $26,730
    Interest-bearing deposits $153,130
    Retail deposits $161,111
    IRAs and Keogh plan accounts $9,465
    Brokered deposits $14,853
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $226,853
    Cash & Balances due from depository institutions $10,456
    Interest-bearing balances $8,404
    Total securities $50,072
    Federal funds sold & reverse repurchase $0
    Net loans and leases $154,595
    Loan and leases loss allowance $1,108
    Trading account assets $0
    Bank premises and fixed assets $8,169
    Other real estate owned $944
    Goodwill and other intangibles $28
    All other assets $2,589

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $226,853
    Total Liabilities $205,026
    Total deposits $179,860
    Interest-bearing deposits $153,130
    Deposits held in domestic offices $179,860
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $23,500
    Subordinated debt $0
    All other liabilities $1,666

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $154,595
    Loan and leases loss allowance $1,108
    Total loans and leases (domestic) $155,703
    All real estate loans $91,350
    Real estate loans in domestic offices $91,350
    Construction and development loans $1,517
    Residential 1-4 family construction $809
    Other construction, all land development and other land $708
    Loans secured by nonfarm nonresidential properties $20,076
    Nonfarm nonresidential secured by owner-occupied properties $12,467
    Commercial real estate & other non-farm, non-residential $7,609
    Multifamily residential real estate $1,777
    1-4 family residential loans $67,785
    Farmland loans $195
    Loans held in foreign offices $0
    Farm loans $1,210
    Commercial and industrial loans $6,765
    To non-U.S. addressees $0
    Loans to individuals $48,413
    Credit card loans $0
    Related Plans $65
    Consumer Auto Loans $1,384
    Other loans to individuals $46,964
    All other loans & leases $7,965
    Loans to foreign governments and official institutions $0
    Other loans $4,565
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,118
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $606
    Non 1-4 family restructured loans & leases $1
    Total loans and leases (foreign) $0

    McHenry Savings Bank had $154,595,000 of loans outstanding in 2019. $91,350,000 of loans were in real estate loans. $1,517,000 of loans were in development loans. $1,777,000 of loans were in multifamily mortgage loans. $67,785,000 of loans were in 1-4 family mortgage loans. $1,210,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,384,000 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 79 $15,861 $200,772
    Nonfarm, nonresidential loans - <$100k 16 $783 $48,938
    Nonfarm, nonresidential loans - $100-250k 27 $3,090 $114,444
    Nonfarm, nonresidential loans - $250k-1MM 36 $11,988 $333,000
    Commercial & Industrial, US addressed loans - <$1MM 134 $6,765 $50,485
    Commercial & Industrial, US addressed loans - <$100k 93 $2,708 $29,118
    Commercial & Industrial, US addressed loans - $100-250k 37 $3,481 $94,081
    Commercial & Industrial, US addressed loans - $250k-1MM 4 $576 $144,000
    Farmland loans - <$1MM 1 $195 $195,000
    Farmland loans - $100-250k 1 $195 $195,000
    Agriculture operations loans - <$1MM 5 $411 $82,200
    Agriculture operations loans - <$100k 3 $70 $23,333
    Agriculture operations loans - $100-250k 2 $341 $170,500