First State Bank Mortgage Rates, Fees & Info
Mendota, ILLEI: 549300CQG2T7TCGY8Q67
Tax ID: 36-1465165
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Bank Data
Review & Overview
First State Bank is a smaller bank specializing in Refi and Home Purchase loans. First State Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Chicago, Ottawa, Bloomington, Rochelle, and Kankakee among others. We have data for 39 markets. (Some data included below & more in-depth data is available with an active subscription.)First State Bank 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. First State 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.62% | 12/16/24 |
| 30 Year Conventional Refi | 6.51% | 12/16/24 |
| 30 Year Cash-out Refi | 6.49% | 12/16/24 |
| 15 Year Conventional Purchase | 5.94% | 12/16/24 |
| 15 Year Conventional Refi | 5.73% | 12/16/24 |
| 15 Year Cash-out Refi | 5.73% | 12/16/24 |
| 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. | ||
First State Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,150Origination Dollar Volume (All Markets)
$207,470,000Employee count
330Awards
First State Bank - 2020
First State Bank is a 2020 , due to their low .
For 2020, 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 |
|---|---|---|---|---|---|
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 278 | $69,790,000 | $251,043 | $1,937 | 3.27% |
| Ottawa, IL (FHA|USDA|VA) | 526 | $68,770,000 | $130,741 | $1,604 | 3.03% |
| BLOOMINGTON, IL (FHA|USDA|VA) | 114 | $19,910,000 | $174,649 | $1,243 | 4.14% |
| Rochelle, IL (FHA|USDA|VA) | 75 | $12,545,000 | $167,267 | $2,012 | 3.30% |
| KANKAKEE, IL (FHA|USDA|VA) | 3 | $6,245,000 | $2,081,667 | $1,787 | 3.78% |
| Dixon, IL (FHA|USDA|VA) | 43 | $5,795,000 | $134,767 | $2,093 | 2.96% |
| PEORIA, IL (FHA|USDA|VA) | 25 | $4,345,000 | $173,800 | $1,649 | 3.23% |
| ROCKFORD, IL (FHA|USDA|VA) | 11 | $2,715,000 | $246,818 | $2,542 | 3.20% |
| Outside of Metro Areas | 14 | $2,570,000 | $183,571 | $1,722 | 3.29% |
| Whitewater, WI (FHA|USDA|VA) | 1 | $2,135,000 | $2,135,000 | $0 | 3.95% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 4 | $1,990,000 | $497,500 | $2,204 | 3.16% |
| Pontiac, IL (FHA|USDA|VA) | 16 | $1,930,000 | $120,625 | $1,176 | 3.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $1,770,000 | $885,000 | $1,551 | 3.55% |
| NILES, MI (FHA|USDA|VA) | 3 | $1,035,000 | $345,000 | $3,202 | 2.75% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 3 | $725,000 | $241,667 | $3,016 | 3.54% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 4.13% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 4 | $470,000 | $117,500 | $1,769 | 3.63% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $1,480 | 3.06% |
| JANESVILLE-BELOIT, WI (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $1,827 | 2.88% |
| SPRINGFIELD, IL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $891 | 3.06% |
| Holland, MI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,132 | 3.25% |
| Williston, ND (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,569 | 3.50% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $1,744 | 3.00% |
| Sterling, IL (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $1,886 | 2.96% |
| Nacogdoches, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,821 | 2.88% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.70% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 3.75% |
| Quincy, IL-MO (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 4.75% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,300 | 2.63% |
| IOWA CITY, IA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $1,351 | 2.38% |
| LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,310 | 3.25% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,546 | 2.50% |
| Sebastian-Vero Beach, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,100 | 3.50% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,363 | 3.50% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 4.25% |
| Cookeville, TN (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,847 | 3.88% |
| Baraboo, WI (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,821 | 3.00% |
| Craig, CO (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,649 | 2.38% |
| Freeport, IL (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.88% |
Similar Lenders
We use machine learning to identify the top lenders compared against First State Bank 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
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 1,148 | $207,320,000 | $180,592 | $1,732 | 3.24% |
| USDA | 2 | $150,000 | $75,000 | $2,275 | 3.56% |
For 2020, First State Bank's most frequently originated type of loan was Conventional, with 1,148 originations. Their 2nd most popular type was USDA, with 2 originations.
Loan Reason
For 2020, First State Bank's most frequently cited loan purpose was Refi, with 557 originations. The 2nd most popular reason was Home Purchase, with 332 originations.
Loan Duration/Length
For 2020, First State Bank's most frequently cited loan duration was 15 Year, with 446 originations. The 2nd most popular length was 30 Year, with 353 originations.
Origination Fees/Closing Costs
First State Bank's average total fees were $2,024, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 709 originations.
Interest Rates
During 2020, First State Bank's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was 2.5-3%, with 351 originations.
Loan Sizing
2020 saw First State Bank place emphasis on $100k-200k loans with 506 originations, totaling $72,530,000 in origination value.
Applicant Income
First State Bank lent most frequently to those with incomes in the $100k-150k range, with 260 originations. The second most popular income band? $50k-75k, with 204 originations.
Applicant Debt to Income Ratio
First State Bank lent most frequently to those with DTI ratios of 20-30%, with 291 originations. The next most common DTI ratio? 30-36%, with 190 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.17%
First State Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.91%
First State Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,150 | $207,470,000 | $180,409 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Closing on a mortgage | 2 | 13.3% |
| FIRST HORIZON BANK | Other type of mortgage | Struggling to pay mortgage | 1 | 6.7% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First State Bank | 10001 U S 30 Waterman, IL 60556 | Full Service B&M | $14,647 |
| First State Bank | 115 Plaza Drive Streator, IL 61364 | Full Service B&M | $46,483 |
| First State Bank | 1212 La Salle Street Ottawa, IL 61350 | Full Service B&M | $90,457 |
| First State Bank | 1403 13th Avenue Mendota, IL 61342 | Limited, Drive-thru | $0 |
| First State Bank | 1693 North Main Street Princeton, IL 61356 | Full Service B&M | $38,825 |
| First State Bank | 1940 Dekalb Avenue Sycamore, IL 60178 | Full Service B&M | $70,478 |
| First State Bank | 1978 West Wilson Street Batavia, IL 60510 | Full Service B&M | $20,674 |
| First State Bank | 203 West Comanche Avenue Shabbona, IL 60550 | Full Service B&M | $19,859 |
| First State Bank | 2514 Johnson St West Brooklyn, IL 61378 | Full Service B&M | $53,905 |
| First State Bank | 2601 Oak Street Saint Charles, IL 60175 | Full Service B&M | $60,250 |
| First State Bank | 304 East Highway 38 Rochelle, IL 61068 | Full Service B&M | $55,297 |
| First State Bank | 323 West State Street Geneva, IL 60134 | Full Service B&M | $18,355 |
| First State Bank | 411 West Main Street Mcnabb, IL 61335 | Full Service B&M | $39,046 |
| First State Bank | 4351 Venture Drive Peru, IL 61354 | Full Service B&M | $65,658 |
| First State Bank | 502 North Hershey Bloomington, IL 61704 | Full Service B&M | $97,546 |
| First State Bank | 706-8 Washington Street Mendota, IL 61342 | Full Service B&M | $351,562 |
| First State Bank | 75 S. Randall Road North Aurora, IL 60542 | Full Service B&M | $26,916 |
| First State Bank | 90 North Main Street La Moille, IL 61330 | Full Service B&M | $16,861 |
For 2020, First State Bank had 18 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $48,354 |
| Net interest income | $38,305 |
| Total noninterest income | $37,215 |
| Gross Fiduciary activities income | $246 |
| Service charges on deposit accounts | $832 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $36,137 |
| Pre-tax net operating income | $28,425 |
| Securities gains (or losses, -) | $652 |
| Income before extraordinary items | $21,239 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $21,239 |
| Minority interest net income | $0 |
| Net income | $21,239 |
| Sale, conversion, retirement of capital stock, net | $97 |
| Net operating income | $20,723 |
First State Bank's gross interest income from loans was $48,354,000.
First State Bank's net interest income from loans was $38,305,000.
First State Bank's fee based income from loans was $832,000.
First State Bank's net income from loans was $21,239,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $10,049 |
| Provision for credit losses | $5,050 |
| Total noninterest expense | $42,045 |
| Salaries and employee benefits | $27,029 |
| Premises and equipment expense | $3,261 |
| Additional noninterest expense | $11,755 |
| Applicable income taxes | $7,838 |
| Net charge-offs | $1,954 |
| Cash dividends | $13,526 |
First State Bank's interest expense for loans was $10,049,000.
First State Bank's payroll and benefits expense were $27,029,000.
First State Bank's property, plant and equipment expenses $3,261,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| 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 | $1,139,481 |
| Deposits held in domestic offices | $1,139,481 |
| Deposits by Individuals, partnerships, and corporations | $1,044,366 |
| Deposits by U.S. Government | $1 |
| Deposits by States and political subdivisions in the U.S. | $80,236 |
| Deposits by Commercial banks and other depository institutions in U.S. | $14,878 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $435,357 |
| Demand deposits | $434,193 |
| Nontransaction accounts | $704,124 |
| Money market deposit accounts (MMDAs) | $136,111 |
| Other savings deposits (excluding MMDAs) | $185,043 |
| Total time deposits | $382,968 |
| Total time and savings deposits | $705,288 |
| Noninterest-bearing deposits | $198,227 |
| Interest-bearing deposits | $941,254 |
| Retail deposits | $1,077,708 |
| IRAs and Keogh plan accounts | $32,688 |
| Brokered deposits | $7,000 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,328,139 |
| Cash & Balances due from depository institutions | $84,047 |
| Interest-bearing balances | $57,460 |
| Total securities | $99,437 |
| Federal funds sold & reverse repurchase | $25,934 |
| Net loans and leases | $1,037,192 |
| Loan and leases loss allowance | $15,508 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $26,604 |
| Other real estate owned | $2,648 |
| Goodwill and other intangibles | $11,437 |
| All other assets | $40,840 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,328,139 |
| Total Liabilities | $1,189,207 |
| Total deposits | $1,139,481 |
| Interest-bearing deposits | $941,254 |
| Deposits held in domestic offices | $1,139,481 |
| % insured (estimated) | $80 |
| Federal funds purchased and repurchase agreements | $21,058 |
| Trading liabilities | $0 |
| Other borrowed funds | $4,000 |
| Subordinated debt | $0 |
| All other liabilities | $24,668 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,037,192 |
| Loan and leases loss allowance | $15,508 |
| Total loans and leases (domestic) | $1,052,700 |
| All real estate loans | $816,174 |
| Real estate loans in domestic offices | $816,174 |
| Construction and development loans | $37,025 |
| Residential 1-4 family construction | $9,063 |
| Other construction, all land development and other land | $27,962 |
| Loans secured by nonfarm nonresidential properties | $261,032 |
| Nonfarm nonresidential secured by owner-occupied properties | $133,050 |
| Commercial real estate & other non-farm, non-residential | $127,982 |
| Multifamily residential real estate | $81,119 |
| 1-4 family residential loans | $305,654 |
| Farmland loans | $131,344 |
| Loans held in foreign offices | $0 |
| Farm loans | $94,645 |
| Commercial and industrial loans | $130,155 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $11,272 |
| Credit card loans | $1,187 |
| Related Plans | $74 |
| Consumer Auto Loans | $4,276 |
| Other loans to individuals | $5,735 |
| All other loans & leases | $455 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $81 |
| 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 |
First State Bank had $1,037,192,000 of loans outstanding in 2020. $816,174,000 of loans were in real estate loans. $37,025,000 of loans were in development loans. $81,119,000 of loans were in multifamily mortgage loans. $305,654,000 of loans were in 1-4 family mortgage loans. $94,645,000 of loans were in farm loans. $1,187,000 of loans were in credit card loans. $4,276,000 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 | 627 | $126,779 | $202,199 |
| Nonfarm, nonresidential loans - <$100k | 215 | $8,341 | $38,795 |
| Nonfarm, nonresidential loans - $100-250k | 193 | $24,984 | $129,451 |
| Nonfarm, nonresidential loans - $250k-1MM | 219 | $93,454 | $426,731 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,694 | $129,433 | $76,407 |
| Commercial & Industrial, US addressed loans - <$100k | 1,304 | $37,818 | $29,002 |
| Commercial & Industrial, US addressed loans - $100-250k | 229 | $32,534 | $142,070 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 161 | $59,081 | $366,963 |
| Farmland loans - <$1MM | 338 | $46,689 | $138,133 |
| Farmland loans - <$100k | 79 | $3,536 | $44,759 |
| Farmland loans - $100-250k | 157 | $19,118 | $121,771 |
| Farmland loans - $250k-1MM | 102 | $24,035 | $235,637 |
| Agriculture operations loans - <$1MM | 651 | $39,708 | $60,995 |
| Agriculture operations loans - <$100k | 499 | $13,776 | $27,607 |
| Agriculture operations loans - $100-250k | 88 | $10,059 | $114,307 |
| Agriculture operations loans - $250k-1MM | 64 | $15,873 | $248,016 |