The First National Bank Of Ottawa Mortgage Rates, Fees & Info

Ottawa, IL

LEI: 549300DL7AWRPX6NXO12

Tax ID: 36-1588745

5 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

The First National Bank Of Ottawa is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. The First National Bank Of Ottawa has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Chicago, Ottawa, Cape Coral, Kankakee, and Phoenix among others. The First National Bank Of Ottawa has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. The First National Bank Of Ottawa is typically a low fee lendor.


Originations

939

Origination Dollar Volume (All Markets)

$245,005,000

Employee count

132 Show all (6) awards

Relative Rate

The First National Bank Of Ottawa's average 30 year fixed rate mortgage of loans were 3%.

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

This yields a difference of -0.15%.

Relative Fees

The First National Bank Of Ottawa's average total fees for a 30 year fixed rate mortgage are $2,694.

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 571 $170,465,000 $298,538 $2,339 2.87%
Ottawa, IL (FHA|USDA|VA) 254 $32,460,000 $127,795 $2,190 2.85%
Outside of Metro Areas 19 $5,025,000 $264,474 $2,807 2.98%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 6 $4,740,000 $790,000 $4,827 3.04%
KANKAKEE, IL (FHA|USDA|VA) 3 $4,475,000 $1,491,667 $0 3.93%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 4 $3,250,000 $812,500 $2,574 3.00%
Holland, MI (FHA|USDA|VA) 1 $2,165,000 $2,165,000 $0 3.25%
Whitewater, WI (FHA|USDA|VA) 6 $2,120,000 $353,333 $2,689 2.94%
NILES, MI (FHA|USDA|VA) 5 $2,015,000 $403,000 $3,115 2.97%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $1,845,000 $369,000 $4,054 3.10%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,690,000 $845,000 $0 3.63%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $1,580,000 $395,000 $3,903 2.81%
Pontiac, IL (FHA|USDA|VA) 15 $1,435,000 $95,667 $2,540 2.58%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $825,000 $825,000 $10,362 3.13%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $685,000 $685,000 $6,698 2.75%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $545,000 $545,000 $4,452 3.13%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $545,000 $545,000 $2,278 3.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $545,000 $545,000 $4,064 2.75%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $545,000 $545,000 $2,749 2.63%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $525,000 $525,000 $4,765 3.13%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 2 $520,000 $260,000 $2,734 2.38%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $485,000 $485,000 $2,603 3.13%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $470,000 $235,000 $3,113 2.75%
PEORIA, IL (FHA|USDA|VA) 5 $455,000 $91,000 $2,937 2.75%
SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $455,000 $455,000 $3,069 3.25%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 1 $395,000 $395,000 $2,183 2.88%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 2 $370,000 $185,000 $3,153 3.06%
ROCKFORD, IL (FHA|USDA|VA) 2 $360,000 $180,000 $1,910 3.25%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $335,000 $335,000 $3,187 2.88%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $325,000 $325,000 $2,637 2.38%
TUCSON, AZ (FHA|USDA|VA) 1 $295,000 $295,000 $2,521 2.25%
SPRINGFIELD, IL (FHA|USDA|VA) 2 $280,000 $140,000 $2,157 3.19%
Dixon, IL (FHA|USDA|VA) 2 $280,000 $140,000 $1,796 3.31%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $280,000 $140,000 $1,822 2.75%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $255,000 $255,000 $5,401 3.00%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $245,000 $245,000 $3,407 2.50%
ASHEVILLE, NC (FHA|USDA|VA) 1 $235,000 $235,000 $2,325 3.00%
Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $235,000 $235,000 $2,368 2.50%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $225,000 $225,000 $3,780 2.88%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $185,000 $185,000 $2,596 2.75%
JANESVILLE-BELOIT, WI (FHA|USDA|VA) 1 $185,000 $185,000 $2,051 2.88%
Mountain Home, AR (FHA|USDA|VA) 1 $165,000 $165,000 $1,972 3.13%
Alamogordo, NM (FHA|USDA|VA) 1 $145,000 $145,000 $824 2.50%
Freeport, IL (FHA|USDA|VA) 1 $125,000 $125,000 $1,663 3.13%
Ashland, OH (FHA|USDA|VA) 1 $115,000 $115,000 $3,757 2.75%
BLOOMINGTON, IL (FHA|USDA|VA) 1 $105,000 $105,000 $2,355 3.25%

The First National Bank Of Ottawa's top markets include Chicago, Ottawa, Cape Coral, Kankakee, and Phoenix among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 922 $243,350,000 $263,937 $2,340 2.87%
USDA 17 $1,655,000 $97,353 $4,185 2.72%

For the 2021 period, The First National Bank Of Ottawa's most frequently originated loan type of loans were Conventional, with 922 originations. Their 2nd most popular type is USDA, with 17 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 408 $103,730,000 $254,240 $1,759 2.71%
Home Purchase 304 $81,780,000 $269,013 $3,668 3.09%
Cash Out Refi 225 $58,745,000 $261,089 $1,821 2.86%
Home Improvement 1 $245,000 $245,000 $0 3.25%
NA 1 $505,000 $505,000 $0 4.00%

For the 2021, The First National Bank Of Ottawa's most frequently cited loan purpose of loans were Refi, with 408 originations. The 2nd most popular reason of loans were Home Purchase, with 304 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 575 $145,845,000 $253,643 $2,694 3.00%
15 Year 230 $46,850,000 $203,696 $1,800 2.43%
20 Year 62 $12,110,000 $195,323 $1,811 2.87%
10 Year 25 $4,775,000 $191,000 $1,876 2.41%
5 Year 21 $17,845,000 $849,762 $0 4.02%
Other 19 $10,185,000 $536,053 $1,458 3.34%
3 Year 5 $4,645,000 $929,000 $0 3.75%
1 Year 2 $2,750,000 $1,375,000 $6,299 3.75%

For the 2021, The First National Bank Of Ottawa's most frequently cited loan length of loans were 30 Year, with 575 originations. The 2nd most popular length of loans were 15 Year, with 230 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 824 $188,630,000 $228,920
$1k-2k 50 $8,680,000 $173,600
$2k-3k 8 $2,620,000 $327,500
$3k-4k 6 $3,030,000 $505,000
$5k+ 5 $5,645,000 $1,129,000

$2,694 of loans were The First National Bank Of Ottawa's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 824 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 406 $100,330,000 $247,118
3-4% 258 $78,180,000 $303,023
<2.5% 247 $55,325,000 $223,988
4-5% 27 $11,035,000 $408,704

During 2021, The First National Bank Of Ottawa's average interest rate of loans were 3.00%, while their most frequently originated rate bucket of loans were 2.5-3%, with 406 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 314 $46,310,000 $147,484 $2,000 2.82%
$200k-400k 311 $86,855,000 $279,277 $2,400 2.86%
$100,000 or less 168 $12,210,000 $72,679 $2,341 2.83%
$400k-600k 108 $53,140,000 $492,037 $2,804 2.93%
$600k-1MM 20 $15,430,000 $771,500 $5,813 3.50%
$1MM+ 18 $31,060,000 $1,725,556 $7,916 3.26%

2021 saw The First National Bank Of Ottawa place emphasis on $100k-200k loans with 314 originations, totaling $46,310,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 223 $54,385,000 $243,879 $2,302 2.86%
$50k-75k 179 $25,535,000 $142,654 $2,236 2.83%
$150k-250k 158 $52,290,000 $330,949 $2,582 2.82%
$75k-100k 145 $25,635,000 $176,793 $2,211 2.82%
$50k or less 103 $10,055,000 $97,621 $2,241 2.87%
$250k+ 87 $41,825,000 $480,747 $3,010 2.78%

The First National Bank Of Ottawa lent most frequently to those with incomes in the $100k-150k range, with 223 originations. The second most popular income band? $50k-75k, with 179 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 253 $61,075,000 $241,403 $2,407 2.80%
30-36% 164 $35,720,000 $217,805 $2,249 2.85%
<20% 103 $21,525,000 $208,981 $2,093 2.67%
36% 36 $10,930,000 $303,611 $2,413 2.88%
41% 34 $8,890,000 $261,471 $2,602 2.89%
42% 30 $6,100,000 $203,333 $2,582 2.84%
40% 30 $5,010,000 $167,000 $2,520 2.83%
38% 29 $6,235,000 $215,000 $2,233 2.94%
43% 29 $5,775,000 $199,138 $2,551 2.86%
39% 27 $6,215,000 $230,185 $2,154 2.97%
44% 26 $6,050,000 $232,692 $2,634 2.90%
45% 24 $7,760,000 $323,333 $3,169 2.85%
48% 21 $4,945,000 $235,476 $2,873 2.91%
37% 21 $5,685,000 $270,714 $2,397 2.89%
47% 18 $4,570,000 $253,889 $2,629 2.74%
49% 17 $3,645,000 $214,412 $2,392 2.84%
46% 15 $4,725,000 $315,000 $2,000 2.85%
50-60% 12 $3,190,000 $265,833 $1,874 3.00%
>60% 3 $475,000 $158,333 $1,224 2.71%

The First National Bank Of Ottawa lent most frequently to those with DTI ratios of 20-30%, with 253 originations. The next most common DTI ratio? 30-36%, with 164 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 715 $168,755,000 $236,021 $2,308 2.84%
Not provided 167 $41,735,000 $249,910 $2,606 2.79%
Not applicable 29 $28,275,000 $975,000 $0 3.90%
Asian 12 $3,450,000 $287,500 $2,635 3.00%
Black 8 $1,140,000 $142,500 $3,450 3.06%
Asian Indian 4 $960,000 $240,000 $2,124 2.75%
American Indian 2 $300,000 $150,000 $2,752 2.94%
Guamanian 1 $275,000 $275,000 $1,532 2.63%
Native Hawaiian 1 $115,000 $115,000 $1,231 2.63%

Approval Rates

Total approvals of all applications
97.23%

The First National Bank Of Ottawa 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
90.08%

The First National Bank Of Ottawa has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 939 $245,005,000 $260,921

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
939 $245,005,000 $260,921

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 54 $11,990,000 $222,037 $2,067 2.65%
40-60% 213 $51,675,000 $242,606 $1,996 2.69%
60-80% 430 $117,860,000 $274,093 $2,284 2.91%
80-100% 226 $53,440,000 $236,460 $2,984 2.97%
Over 100% 8 $7,260,000 $907,500 $0 3.90%
Under 20% 4 $420,000 $105,000 $1,928 2.34%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
The First National Bank of Ottawa 1459 Cannonball Trail Yorkville, IL 60560 Full Service B&M $12,060
The First National Bank of Ottawa 2771 Columbus Street Ottawa, IL 61350 Full Service B&M $116,416
The First National Bank of Ottawa 300 West Madison Street Ottawa, IL 61350 Limited, Drive-thru $156,560
The First National Bank of Ottawa 409 East Bridge Street Streator, IL 61364 Full Service B&M $38,329
The First National Bank of Ottawa 4733 Main Street Lisle, IL 60532 Full Service B&M $189,414
The First National Bank of Ottawa 601 State Street Ottawa, IL 61350 Full Service B&M $36,129
The First National Bank of Ottawa 701 La Salle Street Ottawa, IL 61350 Full Service B&M $92,317
The First National Bank of Ottawa 1475 E. Woodfield Schaumburg, IL 60173 Full Service B&M $152,760
The First National Bank of Ottawa 1771 N Division Morris, IL 60450 Full Service B&M $20,104
The First National Bank of Ottawa 2324 North Bloomington Street Streator, IL 61364 Limited, Drive-thru $19,745

For 2021, The First National Bank Of Ottawa had 10 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $38,731
Net interest income $37,008
Total noninterest income $9,740
Gross Fiduciary activities income $977
Service charges on deposit accounts $1,448
Trading account gains and fees $0
Additional Noninterest Income $7,315
Pre-tax net operating income $17,378
Securities gains (or losses, -) $0
Income before extraordinary items $12,647
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $12,647
Minority interest net income $0
Net income $12,647
Sale, conversion, retirement of capital stock, net $0
Net operating income $12,647

The First National Bank Of Ottawa's gross interest income from loans was $38,731,000.
The First National Bank Of Ottawa's net interest income from loans was $37,008,000.
The First National Bank Of Ottawa's fee based income from loans was $1,448,000.
The First National Bank Of Ottawa's net income from loans was $12,647,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,723
Provision for credit losses $3,000
Total noninterest expense $26,370
Salaries and employee benefits $18,936
Premises and equipment expense $2,162
Additional noninterest expense $5,272
Applicable income taxes $4,731
Net charge-offs $640
Cash dividends $1,425

The First National Bank Of Ottawa's interest expense for loans was $1,723,000.
The First National Bank Of Ottawa's payroll and benefits expense were $18,936,000.
The First National Bank Of Ottawa's property, plant and equipment expenses $2,162,000.

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 2.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 1.0%
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 $839,783
Deposits held in domestic offices $839,783
Deposits by Individuals, partnerships, and corporations $694,886
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $71,302
Deposits by Commercial banks and other depository institutions in U.S. $73,595
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $557,541
Demand deposits $437,407
Nontransaction accounts $282,242
Money market deposit accounts (MMDAs) $126,587
Other savings deposits (excluding MMDAs) $61,390
Total time deposits $94,264
Total time and savings deposits $402,376
Noninterest-bearing deposits $437,407
Interest-bearing deposits $402,376
Retail deposits $833,842
IRAs and Keogh plan accounts $5,879
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $968,197
Cash & Balances due from depository institutions $19,181
Interest-bearing balances $8,983
Total securities $67,817
Federal funds sold & reverse repurchase $0
Net loans and leases $830,745
Loan and leases loss allowance $12,122
Trading account assets $0
Bank premises and fixed assets $14,559
Other real estate owned $654
Goodwill and other intangibles $7,105
All other assets $28,136

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $968,197
Total Liabilities $878,651
Total deposits $839,783
Interest-bearing deposits $402,376
Deposits held in domestic offices $839,783
% insured (estimated) $60
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $30,000
Subordinated debt $0
All other liabilities $8,868

Issued Loan Types

Type Value (in 000's)
Net loans and leases $830,745
Loan and leases loss allowance $12,122
Total loans and leases (domestic) $842,867
All real estate loans $557,176
Real estate loans in domestic offices $557,176
Construction and development loans $35,604
Residential 1-4 family construction $28,012
Other construction, all land development and other land $7,592
Loans secured by nonfarm nonresidential properties $387,390
Nonfarm nonresidential secured by owner-occupied properties $255,729
Commercial real estate & other non-farm, non-residential $131,661
Multifamily residential real estate $17,489
1-4 family residential loans $101,635
Farmland loans $15,058
Loans held in foreign offices $0
Farm loans $11,461
Commercial and industrial loans $272,263
To non-U.S. addressees $0
Loans to individuals $2,995
Credit card loans $526
Related Plans $17
Consumer Auto Loans $87
Other loans to individuals $2,365
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 $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

The First National Bank of Ottawa had $830,745,000 of loans outstanding in 2021. $557,176,000 of loans were in real estate loans. $35,604,000 of loans were in development loans. $17,489,000 of loans were in multifamily mortgage loans. $101,635,000 of loans were in 1-4 family mortgage loans. $11,461,000 of loans were in farm loans. $526,000 of loans were in credit card loans. $87,000 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 311 $96,145 $309,148
Nonfarm, nonresidential loans - <$100k 60 $2,178 $36,300
Nonfarm, nonresidential loans - $100-250k 80 $11,331 $141,638
Nonfarm, nonresidential loans - $250k-1MM 171 $82,636 $483,251
Commercial & Industrial, US addressed loans - <$1MM 555 $93,695 $168,820
Commercial & Industrial, US addressed loans - <$100k 208 $5,393 $25,928
Commercial & Industrial, US addressed loans - $100-250k 143 $14,543 $101,699
Commercial & Industrial, US addressed loans - $250k-1MM 204 $73,759 $361,564
Farmland loans - <$1MM 27 $3,380 $125,185
Farmland loans - <$100k 9 $298 $33,111
Farmland loans - $100-250k 11 $1,080 $98,182
Farmland loans - $250k-1MM 7 $2,002 $286,000
Agriculture operations loans - <$1MM 30 $3,822 $127,400
Agriculture operations loans - <$100k 17 $596 $35,059
Agriculture operations loans - $100-250k 7 $1,169 $167,000
Agriculture operations loans - $250k-1MM 6 $2,057 $342,833