First State Bank Of Forrest Mortgage Rates, Fees & Info

Forrest, IL

LEI: 549300DNRGCN05KNA737

Tax ID: 37-0275030

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Mortgage Data

Review & Overview

First State Bank Of Forrest is a smaller bank specializing in Home Purchase loans. First State Bank Of Forrest has a high proportion of conventional loans. Their top markets by origination volume include: Pontiac, Peoria, Champaign, Bloomington, and Chicago among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

First State Bank Of Forrest 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.

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Originations

271

Origination Dollar Volume (All Markets)

$26,855,000

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
Pontiac, IL (FHA|USDA|VA) 115 $9,835,000 $85,522 $0 0.00%
Outside of Metro Areas 49 $4,095,000 $83,571 $0 0.00%
PEORIA, IL (FHA|USDA|VA) 49 $3,965,000 $80,918 $0 0.00%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 17 $3,055,000 $179,706 $0 0.00%
BLOOMINGTON, IL (FHA|USDA|VA) 20 $2,910,000 $145,500 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 6 $1,550,000 $258,333 $0 0.00%
Show Low, AZ (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
DECATUR, IL (FHA|USDA|VA) 2 $290,000 $145,000 $0 0.00%
Sterling, IL (FHA|USDA|VA) 3 $245,000 $81,667 $0 0.00%
SPRINGFIELD, IL (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Murray, KY (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Ottawa, IL (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
KANKAKEE, IL (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
DANVILLE, IL (FHA|USDA|VA) 1 $25,000 $25,000 $0 0.00%
CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $15,000 $15,000 $0 0.00%
First State Bank Of Forrest's top markets include Pontiac, Peoria, Champaign, Bloomington, and Chicago among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • Kansas (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 271 $26,855,000 $99,096 $0 0.00%

    For 2022, First State Bank Of Forrest's most frequently originated type of loan was Conventional, with 271 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 154 $18,770,000 $121,883 $0 0.00%
    Home Improvement 50 $2,470,000 $49,400 $0 0.00%
    Cash Out Refi 43 $4,215,000 $98,023 $0 0.00%
    Other 13 $425,000 $32,692 $0 0.00%
    Refi 11 $975,000 $88,636 $0 0.00%

    For 2022, First State Bank Of Forrest's most frequently cited loan purpose was Home Purchase, with 154 originations. The 2nd most popular reason was Home Improvement, with 50 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 271 $26,855,000 $99,096 $0 0.00%

    For 2022, First State Bank Of Forrest's most frequently cited loan duration was Other, with 271 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 175 $7,675,000 $43,857 $0 0.00%
    $100k-200k 60 $8,220,000 $137,000 $0 0.00%
    $200k-400k 31 $8,285,000 $267,258 $0 0.00%
    $400k-600k 4 $1,960,000 $490,000 $0 0.00%
    $600k-1MM 1 $715,000 $715,000 $0 0.00%

    2022 saw First State Bank Of Forrest place emphasis on $100,000 or less loans with 175 originations, totaling $7,675,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 61 $5,205,000 $85,328 $0 0.00%
    $50k or less 57 $3,605,000 $63,246 $0 0.00%
    $100k-150k 52 $7,040,000 $135,385 $0 0.00%
    $75k-100k 47 $5,575,000 $118,617 $0 0.00%
    $150k-250k 30 $2,690,000 $89,667 $0 0.00%
    $250k+ 5 $1,855,000 $371,000 $0 0.00%

    First State Bank Of Forrest lent most frequently to those with incomes in the $50k-75k range, with 61 originations. The second most popular income band? $50k or less, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 236 $24,050,000 $101,907 $0 0.00%
    Asian 4 $940,000 $235,000 $0 0.00%
    Asian Indian 12 $700,000 $58,333 $0 0.00%
    Not applicable 11 $565,000 $51,364 $0 0.00%
    Black 5 $275,000 $55,000 $0 0.00%
    Not provided 2 $260,000 $130,000 $0 0.00%
    American Indian 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    99.30%

    First State Bank Of Forrest 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
    95.94%

    First State Bank Of Forrest 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 271 $26,855,000 $99,096

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    271 $26,855,000 $99,096

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%