Marine Bank Mortgage Rates, Fees & Info

Springfield, IL

LEI: 549300EKGRBBO8HEKR21

Tax ID: 37-0919766

5 stars - out of 5 stars, based on 41 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Marine Bank is a smaller bank specializing in Home Purchase and Refi loans. Marine Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Springfield, Champaign, Bloomington, Peoria, and St. Louis among others. Marine Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Marine Bank is typically a low fee lendor.


Originations

1,645

Origination Dollar Volume (All Markets)

$307,105,000

Employee count

178 Show all (16) awards

Relative Rate

Marine Bank's average 30 year fixed rate mortgage of loans were 2.79%.

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

This yields a difference of -0.36%.

Relative Fees

Marine Bank's average total fees for a 30 year fixed rate mortgage are $2,061.

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
SPRINGFIELD, IL (FHA|USDA|VA) 738 $112,310,000 $152,182 $1,644 2.92%
CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 358 $82,290,000 $229,860 $1,306 2.63%
BLOOMINGTON, IL (FHA|USDA|VA) 316 $77,280,000 $244,557 $1,768 2.66%
Outside of Metro Areas 57 $6,465,000 $113,421 $1,620 2.61%
PEORIA, IL (FHA|USDA|VA) 29 $4,915,000 $169,483 $1,601 2.61%
ST. LOUIS, MO-IL (FHA|USDA|VA) 15 $2,905,000 $193,667 $1,708 2.95%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 10 $2,750,000 $275,000 $4,194 2.89%
Macomb, IL (FHA|USDA|VA) 18 $1,860,000 $103,333 $1,625 2.76%
Taylorville, IL (FHA|USDA|VA) 14 $1,640,000 $117,143 $1,929 2.65%
DANVILLE, IL (FHA|USDA|VA) 13 $1,355,000 $104,231 $1,238 2.51%
DECATUR, IL (FHA|USDA|VA) 11 $1,065,000 $96,818 $1,465 2.93%
Lincoln, IL (FHA|USDA|VA) 7 $905,000 $129,286 $2,110 2.86%
Charleston-Mattoon, IL (FHA|USDA|VA) 6 $630,000 $105,000 $1,560 2.52%
Dixon, IL (FHA|USDA|VA) 5 $555,000 $111,000 $1,204 2.43%
Seneca, SC (FHA|USDA|VA) 1 $545,000 $545,000 $3,517 2.88%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $525,000 $525,000 $3,079 2.75%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $510,000 $255,000 $6,702 2.38%
Pontiac, IL (FHA|USDA|VA) 4 $480,000 $120,000 $2,179 2.81%
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 1 $475,000 $475,000 $1,511 3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $455,000 $455,000 $3,092 2.75%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $440,000 $220,000 $3,026 3.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $395,000 $395,000 $2,682 3.13%
Jacksonville, IL (FHA|USDA|VA) 4 $390,000 $97,500 $2,053 2.63%
Augusta-Waterville, ME (FHA|USDA|VA) 1 $365,000 $365,000 $2,847 3.00%
Breckenridge, CO (FHA|USDA|VA) 1 $345,000 $345,000 $0 3.38%
Sevierville, TN (FHA|USDA|VA) 1 $315,000 $315,000 $0 3.38%
THE VILLAGES, FL (FHA|USDA|VA) 1 $285,000 $285,000 $4,001 2.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $275,000 $275,000 $3,009 2.13%
CEDAR RAPIDS, IA (FHA|USDA|VA) 1 $265,000 $265,000 $2,325 2.63%
SANTA FE, NM (FHA|USDA|VA) 1 $265,000 $265,000 $1,965 2.25%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $265,000 $265,000 $2,394 3.13%
Galesburg, IL (FHA|USDA|VA) 1 $255,000 $255,000 $1,539 3.00%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $255,000 $255,000 $2,868 2.75%
KANKAKEE, IL (FHA|USDA|VA) 1 $245,000 $245,000 $1,584 2.25%
COLUMBIA, MO (FHA|USDA|VA) 1 $245,000 $245,000 $1,707 3.00%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $245,000 $245,000 $2,661 3.63%
Sterling, IL (FHA|USDA|VA) 3 $225,000 $75,000 $2,379 2.92%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $215,000 $215,000 $3,221 2.00%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $205,000 $205,000 $1,920 1.88%
TOLEDO, OH (FHA|USDA|VA) 1 $205,000 $205,000 $2,794 3.00%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $195,000 $195,000 $1,478 2.00%
Hannibal, MO (FHA|USDA|VA) 1 $195,000 $195,000 $1,776 3.00%
FORT WAYNE, IN (FHA|USDA|VA) 1 $185,000 $185,000 $1,856 3.25%
IOWA CITY, IA (FHA|USDA|VA) 1 $175,000 $175,000 $1,858 1.88%
LAWRENCE, KS (FHA|USDA|VA) 1 $145,000 $145,000 $1,886 2.63%
Fort Madison-Keokuk, IA-IL-MO (FHA|USDA|VA) 2 $130,000 $65,000 $1,490 2.50%
TERRE HAUTE, IN (FHA|USDA|VA) 1 $125,000 $125,000 $1,774 2.88%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.25%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $85,000 $85,000 $2,006 2.00%
Quincy, IL-MO (FHA|USDA|VA) 1 $85,000 $85,000 $1,409 3.00%
CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $45,000 $45,000 $524 2.50%

Marine Bank's top markets include Springfield, Champaign, Bloomington, Peoria, and St. Louis among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,547 $290,535,000 $187,805 $1,466 2.79%
VA 51 $10,295,000 $201,863 $3,494 2.43%
FHA 36 $4,920,000 $136,667 $4,852 2.47%
USDA 11 $1,355,000 $123,182 $2,963 2.76%

For the 2021 period, Marine Bank's most frequently originated loan type of loans were Conventional, with 1,547 originations. Their 2nd most popular type is VA, with 51 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 723 $139,625,000 $193,119 $2,282 2.91%
Refi 633 $128,455,000 $202,930 $1,132 2.49%
Cash Out Refi 229 $36,445,000 $159,148 $1,354 2.57%
Home Improvement 39 $1,175,000 $30,128 $505 4.97%
Other 21 $1,405,000 $66,905 $778 4.55%

For the 2021, Marine Bank's most frequently cited loan purpose of loans were Home Purchase, with 723 originations. The 2nd most popular reason of loans were Refi, with 633 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 820 $146,460,000 $178,610 $2,061 2.79%
15 Year 360 $55,420,000 $153,944 $1,303 2.13%
Other 161 $19,335,000 $120,093 $889 3.78%
20 Year 117 $19,535,000 $166,966 $1,296 2.59%
5 Year 90 $52,460,000 $582,889 $383 4.13%
10 Year 86 $13,160,000 $153,023 $1,138 2.05%
1 Year 7 $665,000 $95,000 $0 4.54%
3 Year 4 $70,000 $17,500 $367 4.33%

For the 2021, Marine Bank's most frequently cited loan length of loans were 30 Year, with 820 originations. The 2nd most popular length of loans were 15 Year, with 360 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,432 $235,230,000 $164,267
$1k-2k 7 $2,265,000 $323,571
$5k+ 1 $385,000 $385,000

$2,061 of loans were Marine Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,432 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 734 $115,360,000 $157,166
2.5-3% 581 $104,655,000 $180,129
3-4% 200 $76,420,000 $382,100
4-5% 79 $9,355,000 $118,418
5-6% 51 $1,315,000 $25,784

During 2021, Marine Bank's average interest rate of loans were 2.79%, while their most frequently originated rate bucket of loans were <2.5%, with 734 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 704 $103,000,000 $146,307 $1,612 2.61%
$100,000 or less 494 $31,430,000 $63,623 $1,234 3.08%
$200k-400k 396 $105,060,000 $265,303 $1,977 2.65%
$400k-600k 37 $17,155,000 $463,649 $2,516 2.76%
$1MM+ 11 $47,875,000 $4,352,273 $0 3.56%
$600k-1MM 3 $2,585,000 $861,667 $0 3.83%

2021 saw Marine Bank place emphasis on $100k-200k loans with 704 originations, totaling $103,000,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 378 $70,180,000 $185,661 $1,626 2.75%
$75k-100k 318 $50,020,000 $157,296 $1,611 2.75%
$50k-75k 303 $37,025,000 $122,195 $1,652 2.66%
$50k or less 284 $26,710,000 $94,049 $1,706 2.78%
$150k-250k 217 $46,805,000 $215,691 $1,571 2.80%
$250k+ 74 $18,790,000 $253,919 $1,577 2.59%

Marine Bank lent most frequently to those with incomes in the $100k-150k range, with 378 originations. The second most popular income band? $75k-100k, with 318 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 462 $71,370,000 $154,481 $1,526 2.64%
30-36% 321 $54,455,000 $169,642 $1,742 2.76%
<20% 236 $36,320,000 $153,898 $1,285 2.53%
39% 56 $8,520,000 $152,143 $2,072 2.77%
38% 55 $9,615,000 $174,818 $1,723 2.77%
40% 53 $8,535,000 $161,038 $1,623 2.72%
37% 48 $5,950,000 $123,958 $1,533 2.86%
42% 44 $7,380,000 $167,727 $2,118 2.69%
36% 43 $6,905,000 $160,581 $1,659 2.91%
41% 42 $6,960,000 $165,714 $1,942 2.83%
43% 37 $6,865,000 $185,541 $1,583 2.83%
44% 37 $6,025,000 $162,838 $1,535 2.76%
46% 26 $4,430,000 $170,385 $2,057 2.86%
45% 23 $4,065,000 $176,739 $2,532 2.64%
49% 22 $4,500,000 $204,545 $2,235 2.63%
48% 21 $3,225,000 $153,571 $1,685 2.70%
47% 12 $2,160,000 $180,000 $1,695 2.85%
50-60% 4 $790,000 $197,500 $2,997 2.50%
>60% 1 $245,000 $245,000 $1,721 4.00%

Marine Bank lent most frequently to those with DTI ratios of 20-30%, with 462 originations. The next most common DTI ratio? 30-36%, with 321 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,317 $202,365,000 $153,656 $1,634 2.76%
Not applicable 51 $54,995,000 $1,078,333 $0 3.83%
Asian 131 $26,425,000 $201,718 $1,577 2.50%
Not provided 95 $15,635,000 $164,579 $1,623 2.87%
Black 44 $6,830,000 $155,227 $1,797 2.68%
Asian Indian 3 $395,000 $131,667 $1,349 2.17%
American Indian 3 $305,000 $101,667 $1,887 2.33%
Native Hawaiian 1 $155,000 $155,000 $1,234 2.63%

Approval Rates

Total approvals of all applications
91.29%

Marine Bank has an average approval rate.

Pick Rate

Approvals leading to origination
89.76%

Marine Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,645 $307,105,000 $186,690

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,645 $307,105,000 $186,690

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 82 $12,610,000 $153,780 $965 3.20%
40-60% 190 $43,700,000 $230,000 $1,266 2.44%
60-80% 692 $135,660,000 $196,040 $1,345 2.66%
80-100% 610 $110,970,000 $181,918 $2,107 2.75%
Over 100% 12 $2,530,000 $210,833 $6,736 2.48%
Under 20% 59 $1,635,000 $27,712 $443 4.98%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Marine Bank 100-08 North Congress Street Rushville, IL 62681 Full Service B&M $34,949
Marine Bank 1508 Ft. Jesse Road Normal, IL 61761 Full Service B&M $11,470
Marine Bank 1953 East Sangamon Avenue Springfield, IL 62702 Limited, Drive-thru $75,756
Marine Bank 2136 East Cook Street Springfield, IL 62703 Limited, Drive-thru $30,270
Marine Bank 2434 Village Green Place Champaign, IL 61822 Full Service B&M $40,730
Marine Bank 3001 South Sixth Street Springfield, IL 62703 Full Service B&M $60,432
Marine Bank 3050 West Wabash Avenue Springfield, IL 62704 Full Service B&M $258,295
Marine Bank 470 North Main Plaza Chatham, IL 62629 Full Service B&M $43,986
Marine Bank 1661 East Jackson Street Macomb, IL 61455 Full Service B&M $10,436
Marine Bank 1001 South Neil Street Champaign, IL 61824 Full Service B&M $15,088
Marine Bank 1401 North Dirksen Parkway Springfield, IL 62702 Full Service B&M $33,426

For 2021, Marine Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $21,610
Net interest income $19,603
Total noninterest income $11,223
Gross Fiduciary activities income $1,261
Service charges on deposit accounts $946
Trading account gains and fees $0
Additional Noninterest Income $9,016
Pre-tax net operating income $8,486
Securities gains (or losses, -) $0
Income before extraordinary items $8,368
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $8,368
Minority interest net income $0
Net income $8,368
Sale, conversion, retirement of capital stock, net $0
Net operating income $8,368

Marine Bank's gross interest income from loans was $21,610,000.
Marine Bank's net interest income from loans was $19,603,000.
Marine Bank's fee based income from loans was $946,000.
Marine Bank's net income from loans was $8,368,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,007
Provision for credit losses $600
Total noninterest expense $21,740
Salaries and employee benefits $14,899
Premises and equipment expense $1,685
Additional noninterest expense $5,156
Applicable income taxes $118
Net charge-offs $19
Cash dividends $6,205

Marine Bank's interest expense for loans was $2,007,000.
Marine Bank's payroll and benefits expense were $14,899,000.
Marine Bank's property, plant and equipment expenses $1,685,000.

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 1.0%
HELOC loans 0.0%
All other family 1.0%
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 $630,778
Deposits held in domestic offices $630,778
Deposits by Individuals, partnerships, and corporations $621,960
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $6,016
Deposits by Commercial banks and other depository institutions in U.S. $2,802
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $270,032
Demand deposits $163,715
Nontransaction accounts $360,746
Money market deposit accounts (MMDAs) $120,733
Other savings deposits (excluding MMDAs) $106,936
Total time deposits $133,077
Total time and savings deposits $467,063
Noninterest-bearing deposits $163,715
Interest-bearing deposits $467,063
Retail deposits $608,541
IRAs and Keogh plan accounts $22,883
Brokered deposits $13,372
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $739,238
Cash & Balances due from depository institutions $151,687
Interest-bearing balances $146,099
Total securities $97,066
Federal funds sold & reverse repurchase $0
Net loans and leases $468,877
Loan and leases loss allowance $6,939
Trading account assets $0
Bank premises and fixed assets $11,397
Other real estate owned $0
Goodwill and other intangibles $7,366
All other assets $2,845

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $739,238
Total Liabilities $666,798
Total deposits $630,778
Interest-bearing deposits $467,063
Deposits held in domestic offices $630,778
% insured (estimated) $88
Federal funds purchased and repurchase agreements $32,706
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $3,314

Issued Loan Types

Type Value (in 000's)
Net loans and leases $468,877
Loan and leases loss allowance $6,939
Total loans and leases (domestic) $475,816
All real estate loans $430,392
Real estate loans in domestic offices $430,392
Construction and development loans $11,385
Residential 1-4 family construction $4,955
Other construction, all land development and other land $6,430
Loans secured by nonfarm nonresidential properties $278,712
Nonfarm nonresidential secured by owner-occupied properties $49,197
Commercial real estate & other non-farm, non-residential $229,515
Multifamily residential real estate $81,414
1-4 family residential loans $34,298
Farmland loans $24,583
Loans held in foreign offices $0
Farm loans $3,469
Commercial and industrial loans $26,967
To non-U.S. addressees $0
Loans to individuals $1,879
Credit card loans $0
Related Plans $34
Consumer Auto Loans $93
Other loans to individuals $1,752
All other loans & leases $13,108
Loans to foreign governments and official institutions $0
Other loans $348
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 $1,709
Non 1-4 family restructured loans & leases $1,653
Total loans and leases (foreign) $0

Marine Bank had $468,877,000 of loans outstanding in 2021. $430,392,000 of loans were in real estate loans. $11,385,000 of loans were in development loans. $81,414,000 of loans were in multifamily mortgage loans. $34,298,000 of loans were in 1-4 family mortgage loans. $3,469,000 of loans were in farm loans. $0 of loans were in credit card loans. $93,000 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 196 $36,398 $185,704
Nonfarm, nonresidential loans - <$100k 47 $1,631 $34,702
Nonfarm, nonresidential loans - $100-250k 77 $8,251 $107,156
Nonfarm, nonresidential loans - $250k-1MM 72 $26,516 $368,278
Commercial & Industrial, US addressed loans - <$1MM 192 $11,510 $59,948
Commercial & Industrial, US addressed loans - <$100k 126 $2,613 $20,738
Commercial & Industrial, US addressed loans - $100-250k 37 $2,892 $78,162
Commercial & Industrial, US addressed loans - $250k-1MM 29 $6,005 $207,069
Farmland loans - <$1MM 50 $5,214 $104,280
Farmland loans - <$100k 24 $1,115 $46,458
Farmland loans - $100-250k 17 $1,938 $114,000
Farmland loans - $250k-1MM 9 $2,161 $240,111
Agriculture operations loans - <$1MM 19 $2,660 $140,000
Agriculture operations loans - <$100k 11 $261 $23,727
Agriculture operations loans - $100-250k 2 $345 $172,500
Agriculture operations loans - $250k-1MM 6 $2,054 $342,333