Midwest Community Bank Mortgage Rates, Fees & Info

Freeport, IL

LEI: 549300FGUI1NQCS1M144

Tax ID: 36-2559411

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
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    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
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  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

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    • Review & Overview

    Midwest Community Bank is a smaller bank specializing in Refi and Home Purchase loans. Midwest Community Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Chicago, Rockford, Phoenix, Freeport, and Rochelle among others. We have data for 113 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Midwest Community 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. Midwest Community 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.76% 12/16/24
    30 Year Conventional Refi 6.52% 12/16/24
    30 Year Cash-out Refi 6.85% 12/16/24
    30 Year FHA Purchase 7.32% 12/16/24
    30 Year FHA Refi 6.93% 12/16/24
    30 Year VA Purchase 6.24% 12/16/24
    15 Year Conventional Purchase 6.02% 12/16/24
    15 Year Conventional Refi 6.05% 12/16/24
    15 Year Cash-out Refi 6.05% 12/16/24
    15 Year FHA Refi 6.57% 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.

    Midwest Community Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Midwest Community Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    2,762

    Origination Dollar Volume (All Markets)

    $584,780,000

    Employee count

    255 Show all (17) awards

    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) 1,265 $310,265,000 $245,269 $3,673 2.99%
    ROCKFORD, IL (FHA|USDA|VA) 978 $147,070,000 $150,378 $2,929 3.05%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 40 $12,040,000 $301,000 $3,174 2.95%
    Freeport, IL (FHA|USDA|VA) 101 $11,155,000 $110,446 $2,565 3.13%
    Rochelle, IL (FHA|USDA|VA) 53 $9,265,000 $174,811 $3,245 2.95%
    Outside of Metro Areas 34 $8,630,000 $253,824 $3,395 3.04%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 16 $6,240,000 $390,000 $3,458 3.12%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 12 $5,480,000 $456,667 $4,063 2.74%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 15 $5,195,000 $346,333 $2,816 2.82%
    KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 10 $4,660,000 $466,000 $4,448 3.09%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 10 $3,670,000 $367,000 $3,092 2.74%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 8 $3,350,000 $418,750 $2,831 2.95%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 16 $3,250,000 $203,125 $2,912 2.90%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 7 $2,625,000 $375,000 $6,909 3.16%
    SANTA FE, NM (FHA|USDA|VA) 3 $2,175,000 $725,000 $6,570 2.92%
    Whitewater, WI (FHA|USDA|VA) 6 $2,160,000 $360,000 $2,221 3.10%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 7 $2,015,000 $287,857 $2,299 3.02%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 7 $1,985,000 $283,571 $4,260 2.91%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 6 $1,890,000 $315,000 $2,992 2.96%
    MADISON, WI (FHA|USDA|VA) 8 $1,680,000 $210,000 $3,004 2.80%
    Ottawa, IL (FHA|USDA|VA) 9 $1,565,000 $173,889 $4,546 3.13%
    COLUMBUS, OH (FHA|USDA|VA) 4 $1,540,000 $385,000 $3,785 2.97%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 5 $1,225,000 $245,000 $2,835 2.70%
    NILES, MI (FHA|USDA|VA) 4 $1,180,000 $295,000 $2,969 2.84%
    Baraboo, WI (FHA|USDA|VA) 5 $1,095,000 $219,000 $2,498 3.03%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,080,000 $270,000 $3,279 2.78%
    TUCSON, AZ (FHA|USDA|VA) 4 $1,060,000 $265,000 $2,850 3.34%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 4 $1,020,000 $255,000 $3,551 2.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 4 $1,000,000 $250,000 $3,242 3.28%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 3 $945,000 $315,000 $2,576 2.66%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $860,000 $430,000 $5,311 3.31%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 5 $825,000 $165,000 $3,328 3.10%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $800,000 $400,000 $3,244 2.88%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $740,000 $370,000 $4,445 3.19%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $660,000 $330,000 $2,722 2.69%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 3 $645,000 $215,000 $3,639 2.92%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $625,000 $625,000 $7,981 2.75%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $620,000 $310,000 $3,160 2.68%
    Breckenridge, CO (FHA|USDA|VA) 1 $585,000 $585,000 $4,429 3.25%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 3 $575,000 $191,667 $2,790 3.21%
    FRESNO, CA (FHA|USDA|VA) 2 $570,000 $285,000 $2,603 2.56%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $570,000 $285,000 $0 2.56%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $560,000 $280,000 $2,723 2.94%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $550,000 $275,000 $4,751 2.75%
    DUBUQUE, IA (FHA|USDA|VA) 2 $550,000 $275,000 $9,612 2.44%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $515,000 $515,000 $6,454 2.13%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $515,000 $515,000 $4,817 2.88%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $510,000 $255,000 $2,701 2.69%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $500,000 $250,000 $3,812 2.75%
    NAPA, CA (FHA|USDA|VA) 1 $495,000 $495,000 $2,813 3.38%
    ALBUQUERQUE, NM (FHA|USDA|VA) 1 $485,000 $485,000 $2,296 3.50%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $475,000 $475,000 $0 2.25%
    Gallup, NM (FHA|USDA|VA) 2 $470,000 $235,000 $2,582 3.25%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $455,000 $455,000 $4,889 3.38%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $455,000 $455,000 $3,294 3.25%
    APPLETON, WI (FHA|USDA|VA) 2 $430,000 $215,000 $2,087 2.63%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $415,000 $415,000 $2,979 3.50%
    SHERMAN-DENISON, TX (FHA|USDA|VA) 1 $405,000 $405,000 $3,838 2.63%
    LAFAYETTE-WEST LAFAYETTE, IN (FHA|USDA|VA) 2 $400,000 $200,000 $3,534 2.62%
    Dixon, IL (FHA|USDA|VA) 2 $390,000 $195,000 $3,219 2.88%
    SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) 2 $390,000 $195,000 $2,427 2.94%
    WINSTON-SALEM, NC (FHA|USDA|VA) 2 $380,000 $190,000 $0 3.06%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $375,000 $375,000 $0 2.75%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $375,000 $375,000 $3,423 2.88%
    KANKAKEE, IL (FHA|USDA|VA) 1 $365,000 $365,000 $2,933 2.63%
    ROCHESTER, MN (FHA|USDA|VA) 2 $340,000 $170,000 $2,020 3.06%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $315,000 $315,000 $0 2.75%
    Cookeville, TN (FHA|USDA|VA) 1 $315,000 $315,000 $0 2.75%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $285,000 $285,000 $2,937 2.88%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $275,000 $275,000 $0 2.88%
    RACINE, WI (FHA|USDA|VA) 1 $275,000 $275,000 $2,463 2.25%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $275,000 $275,000 $2,950 2.75%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 2 $270,000 $135,000 $2,834 2.75%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $265,000 $265,000 $0 3.25%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,051 2.63%
    EL PASO, TX (FHA|USDA|VA) 1 $255,000 $255,000 $2,649 3.25%
    GREAT FALLS, MT (FHA|USDA|VA) 1 $255,000 $255,000 $3,143 2.63%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $255,000 $255,000 $2,816 2.88%
    Warrensburg, MO (FHA|USDA|VA) 1 $255,000 $255,000 $0 2.75%
    TALLAHASSEE, FL (FHA|USDA|VA) 2 $250,000 $125,000 $3,164 2.94%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $245,000 $245,000 $4,192 2.88%
    Barre, VT (FHA|USDA|VA) 1 $245,000 $245,000 $2,568 2.88%
    Berlin, NH (FHA|USDA|VA) 1 $235,000 $235,000 $2,906 3.00%
    Sterling, IL (FHA|USDA|VA) 2 $230,000 $115,000 $1,861 3.25%
    LAS CRUCES, NM (FHA|USDA|VA) 1 $215,000 $215,000 $0 3.00%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $215,000 $215,000 $2,995 2.63%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $215,000 $215,000 $3,457 2.75%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $215,000 $215,000 $6,501 2.75%
    Bemidji, MN (FHA|USDA|VA) 1 $215,000 $215,000 $0 2.38%
    SOUTH BEND-MISHAWAKA, IN-MI (FHA|USDA|VA) 1 $195,000 $195,000 $3,696 2.50%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $195,000 $195,000 $0 4.38%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $195,000 $195,000 $3,275 3.00%
    BLOOMINGTON, IL (FHA|USDA|VA) 1 $185,000 $185,000 $2,411 3.25%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $185,000 $185,000 $2,381 3.63%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 2 $180,000 $90,000 $0 2.94%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $175,000 $175,000 $0 2.75%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $165,000 $165,000 $2,237 2.63%
    McMinnville, TN (FHA|USDA|VA) 1 $165,000 $165,000 $0 2.88%
    GRAND JUNCTION, CO (FHA|USDA|VA) 1 $165,000 $165,000 $0 2.75%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,415 2.63%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $145,000 $145,000 $0 2.38%
    Brainerd, MN (FHA|USDA|VA) 1 $145,000 $145,000 $2,498 2.50%
    Holland, MI (FHA|USDA|VA) 1 $145,000 $145,000 $2,606 3.13%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $135,000 $135,000 $0 2.25%
    AMES, IA (FHA|USDA|VA) 1 $135,000 $135,000 $2,713 3.25%
    Menomonie, WI (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.63%
    Palestine, TX (FHA|USDA|VA) 1 $125,000 $125,000 $0 2.13%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $125,000 $125,000 $3,963 3.38%
    TUSCALOOSA, AL (FHA|USDA|VA) 1 $115,000 $115,000 $3,052 3.25%
    PEORIA, IL (FHA|USDA|VA) 1 $105,000 $105,000 $2,771 3.88%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $105,000 $105,000 $1,901 2.50%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $105,000 $105,000 $3,359 3.25%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $75,000 $75,000 $0 3.38%
    Midwest Community Bank's top markets include Chicago, Rockford, Phoenix, Freeport, and Rochelle among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Midwest Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The Greenwood's State Bank
    Similarity Rank: 135
    Rock Valley Credit Union
    Similarity Rank: 135
    Glenview State Bank
    Similarity Rank: 312
    Liberty Bank for Savings
    Similarity Rank: 312
    The Park Bank
    Similarity Rank: 338
    State Bank of Cross Plains
    Similarity Rank: 352
    TRISTAR FINANCE, INC.
    Similarity Rank: 378
    The District Federal Credit Union
    Similarity Rank: 441
    CROWN MORTGAGE COMPANY
    Similarity Rank: 627
    Oregon Community Bank
    Similarity Rank: 638

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,355 $512,245,000 $217,514 $2,737 3.01%
    FHA 335 $55,295,000 $165,060 $6,758 3.08%
    VA 72 $17,240,000 $239,444 $4,350 2.67%

    For 2020, Midwest Community Bank's most frequently originated type of loan was Conventional, with 2,355 originations. Their 2nd most popular type was FHA, with 335 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 1,329 $311,655,000 $234,503 $2,274 2.89%
    Home Purchase 1,206 $224,370,000 $186,045 $4,604 3.10%
    Cash Out Refi 227 $48,755,000 $214,780 $2,516 3.24%

    For 2020, Midwest Community Bank's most frequently cited loan purpose was Refi, with 1,329 originations. The 2nd most popular reason was Home Purchase, with 1,206 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 2,151 $465,265,000 $216,302 $3,645 3.09%
    15 Year 478 $91,520,000 $191,464 $2,159 2.69%
    20 Year 96 $21,200,000 $220,833 $2,190 2.96%
    10 Year 24 $3,550,000 $147,917 $1,986 2.49%
    Other 13 $3,245,000 $249,615 $2,366 3.10%

    For 2020, Midwest Community Bank's most frequently cited loan duration was 30 Year, with 2,151 originations. The 2nd most popular length was 15 Year, with 478 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,488 $339,530,000 $228,179
    $<1k 570 $85,490,000 $149,982
    $2k-3k 99 $25,615,000 $258,737
    $3k-4k 14 $5,530,000 $395,000
    $4k-5k 7 $2,425,000 $346,429
    $5k+ 3 $1,985,000 $661,667

    Midwest Community Bank's average total fees were $3,645, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,488 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,158 $254,570,000 $219,836
    3-4% 1,036 $214,380,000 $206,931
    <2.5% 481 $101,825,000 $211,694
    4-5% 78 $13,240,000 $169,744
    5-6% 9 $765,000 $85,000

    During 2020, Midwest Community Bank's average interest rate for loans was 3.09%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,158 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,215 $182,395,000 $150,119 $3,289 3.00%
    $200k-400k 1,000 $275,410,000 $275,410 $3,440 2.96%
    $100,000 or less 349 $26,065,000 $74,685 $2,749 3.21%
    $400k-600k 176 $82,390,000 $468,125 $3,315 2.96%
    $600k-1MM 19 $14,265,000 $750,789 $6,790 3.05%
    $1MM+ 3 $4,255,000 $1,418,333 $7,736 3.04%

    2020 saw Midwest Community Bank place emphasis on $100k-200k loans with 1,215 originations, totaling $182,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 633 $104,355,000 $164,858 $3,751 3.02%
    $100k-150k 591 $141,175,000 $238,875 $2,804 3.01%
    $50k or less 512 $66,760,000 $130,391 $3,733 3.06%
    $75k-100k 507 $98,925,000 $195,118 $3,149 3.02%
    $150k-250k 373 $113,975,000 $305,563 $3,064 2.94%
    $250k+ 136 $57,200,000 $420,588 $3,061 2.93%

    Midwest Community Bank lent most frequently to those with incomes in the $50k-75k range, with 633 originations. The second most popular income band? $100k-150k, with 591 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 677 $156,905,000 $231,765 $2,796 2.96%
    30-36% 490 $95,470,000 $194,837 $3,096 3.04%
    <20% 254 $53,300,000 $209,843 $2,407 2.88%
    44% 142 $29,800,000 $209,859 $4,048 3.10%
    43% 115 $22,055,000 $191,783 $3,997 3.09%
    42% 114 $23,190,000 $203,421 $4,093 3.10%
    41% 108 $21,950,000 $203,241 $3,892 3.11%
    37% 105 $21,705,000 $206,714 $3,674 3.13%
    38% 99 $17,865,000 $180,455 $3,452 3.05%
    36% 99 $20,475,000 $206,818 $3,341 3.01%
    39% 89 $19,065,000 $214,213 $3,504 2.98%
    40% 85 $17,455,000 $205,353 $3,252 3.11%
    49% 66 $15,720,000 $238,182 $3,905 2.92%
    46% 57 $12,585,000 $220,789 $3,336 2.98%
    47% 56 $12,110,000 $216,250 $4,040 3.10%
    50-60% 56 $10,750,000 $191,964 $6,741 3.11%
    48% 54 $11,540,000 $213,704 $3,849 2.94%
    45% 53 $11,565,000 $218,208 $3,415 3.08%
    >60% 8 $1,830,000 $228,750 $1,651 2.67%

    Midwest Community Bank lent most frequently to those with DTI ratios of 20-30%, with 677 originations. The next most common DTI ratio? 30-36%, with 490 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,497 $527,595,000 $211,292 $3,233 3.01%
    Asian 94 $24,020,000 $255,532 $3,533 3.02%
    Not provided 74 $15,820,000 $213,784 $3,572 2.86%
    Black 79 $14,495,000 $183,481 $4,728 3.10%
    American Indian 15 $2,465,000 $164,333 $4,186 3.04%
    Native Hawaiian or Islander 3 $385,000 $128,333 $4,572 3.08%

    Approval Rates

    Total approvals of all applications
    97.19%

    Midwest Community 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
    78.20%

    Midwest Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,762 $584,780,000 $211,723

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 2,762 $584,780,000 $211,723

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 56 $10,060,000 $179,643 $2,595 2.68%
    40-60% 285 $60,035,000 $210,649 $2,319 2.81%
    60-80% 1,028 $236,660,000 $230,214 $2,462 3.00%
    80-100% 1,384 $275,790,000 $199,270 $4,065 3.07%
    Over 100% 9 $2,235,000 $248,333 $8,199 2.89%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MIDWEST EQUITY MORTGAGE, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Midwest Community Bank 1725 South West Avenue Freeport, IL 61032 Full Service B&M $49,108
    Midwest Community Bank 3963 N Perryville Rd Rockford, IL 61114 Full Service B&M $48,117
    Midwest Community Bank 510 Park Crest Drive Freeport, IL 61032 Full Service B&M $276,736

    For 2020, Midwest Community Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,513
    Net interest income $8,689
    Total noninterest income $75,393
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $135
    Trading account gains and fees $0
    Additional Noninterest Income $75,258
    Pre-tax net operating income $26,330
    Securities gains (or losses, -) $0
    Income before extraordinary items $26,330
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $26,330
    Minority interest net income $5,395
    Net income $20,935
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $26,330

    Midwest Community Bank's gross interest income from loans was $11,513,000.
    Midwest Community Bank's net interest income from loans was $8,689,000.
    Midwest Community Bank's fee based income from loans was $135,000.
    Midwest Community Bank's net income from loans was $20,935,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,824
    Provision for credit losses $200
    Total noninterest expense $57,552
    Salaries and employee benefits $40,324
    Premises and equipment expense $2,698
    Additional noninterest expense $14,530
    Applicable income taxes $0
    Net charge-offs $-121
    Cash dividends $10,858

    Midwest Community Bank's interest expense for loans was $2,824,000.
    Midwest Community Bank's payroll and benefits expense were $40,324,000.
    Midwest Community Bank's property, plant and equipment expenses $2,698,000.

    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 $366,917
    Deposits held in domestic offices $366,917
    Deposits by Individuals, partnerships, and corporations $364,818
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2,099
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $92,050
    Demand deposits $39,484
    Nontransaction accounts $274,867
    Money market deposit accounts (MMDAs) $46,942
    Other savings deposits (excluding MMDAs) $25,760
    Total time deposits $202,165
    Total time and savings deposits $327,433
    Noninterest-bearing deposits $44,343
    Interest-bearing deposits $322,574
    Retail deposits $267,407
    IRAs and Keogh plan accounts $15,722
    Brokered deposits $93,986
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $412,072
    Cash & Balances due from depository institutions $48,231
    Interest-bearing balances $40,326
    Total securities $749
    Federal funds sold & reverse repurchase $0
    Net loans and leases $345,543
    Loan and leases loss allowance $2,588
    Trading account assets $0
    Bank premises and fixed assets $3,497
    Other real estate owned $2,522
    Goodwill and other intangibles $2,418
    All other assets $9,112

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $412,072
    Total Liabilities $368,284
    Total deposits $366,917
    Interest-bearing deposits $322,574
    Deposits held in domestic offices $366,917
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,367

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $345,543
    Loan and leases loss allowance $2,588
    Total loans and leases (domestic) $348,131
    All real estate loans $309,694
    Real estate loans in domestic offices $309,694
    Construction and development loans $1,448
    Residential 1-4 family construction $1,448
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $18,204
    Nonfarm nonresidential secured by owner-occupied properties $4,035
    Commercial real estate & other non-farm, non-residential $14,169
    Multifamily residential real estate $72,376
    1-4 family residential loans $209,501
    Farmland loans $8,165
    Loans held in foreign offices $0
    Farm loans $29,018
    Commercial and industrial loans $8,845
    To non-U.S. addressees $0
    Loans to individuals $420
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $68
    Other loans to individuals $352
    All other loans & leases $154
    Loans to foreign governments and official institutions $0
    Other loans $154
    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 $253
    Non 1-4 family restructured loans & leases $253
    Total loans and leases (foreign) $0

    Midwest Community Bank had $345,543,000 of loans outstanding in 2020. $309,694,000 of loans were in real estate loans. $1,448,000 of loans were in development loans. $72,376,000 of loans were in multifamily mortgage loans. $209,501,000 of loans were in 1-4 family mortgage loans. $29,018,000 of loans were in farm loans. $0 of loans were in credit card loans. $68,000 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 22 $5,997 $272,591
    Nonfarm, nonresidential loans - <$100k 4 $92 $23,000
    Nonfarm, nonresidential loans - $100-250k 6 $531 $88,500
    Nonfarm, nonresidential loans - $250k-1MM 12 $5,374 $447,833
    Commercial & Industrial, US addressed loans - <$1MM 180 $8,332 $46,289
    Commercial & Industrial, US addressed loans - <$100k 159 $3,073 $19,327
    Commercial & Industrial, US addressed loans - $100-250k 8 $989 $123,625
    Commercial & Industrial, US addressed loans - $250k-1MM 13 $4,270 $328,462
    Farmland loans - <$1MM 19 $4,044 $212,842
    Farmland loans - <$100k 3 $214 $71,333
    Farmland loans - $100-250k 6 $907 $151,167
    Farmland loans - $250k-1MM 10 $2,923 $292,300
    Agriculture operations loans - <$1MM 42 $4,329 $103,071
    Agriculture operations loans - <$100k 20 $533 $26,650
    Agriculture operations loans - $100-250k 13 $1,191 $91,615
    Agriculture operations loans - $250k-1MM 9 $2,605 $289,444