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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • 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

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Midwest Community Bank is a smaller bank specializing in Home Purchase and Refi 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, Freeport, Rochelle, and Phoenix among others. We have data for 114 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

    2,366

    Origination Dollar Volume (All Markets)

    $489,690,000

    Employee count

    250 Show all (5) 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) 1,002 $238,270,000 $237,794 $4,362 2.89%
    ROCKFORD, IL (FHA|USDA|VA) 916 $134,850,000 $147,216 $3,208 2.99%
    Freeport, IL (FHA|USDA|VA) 98 $11,020,000 $112,449 $2,952 3.02%
    Rochelle, IL (FHA|USDA|VA) 50 $8,670,000 $173,400 $3,230 2.93%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 21 $7,515,000 $357,857 $3,518 2.99%
    Outside of Metro Areas 33 $6,095,000 $184,697 $3,516 3.07%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 12 $5,860,000 $488,333 $4,041 2.87%
    KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 9 $4,685,000 $520,556 $4,762 2.92%
    JANESVILLE-BELOIT, WI (FHA|USDA|VA) 24 $4,430,000 $184,583 $3,757 2.94%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 4 $2,740,000 $685,000 $6,288 2.78%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 8 $2,730,000 $341,250 $6,368 2.83%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 5 $2,435,000 $487,000 $6,247 3.08%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 5 $2,265,000 $453,000 $4,344 2.80%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 5 $2,185,000 $437,000 $3,625 2.85%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 8 $2,060,000 $257,500 $3,527 2.91%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $1,995,000 $665,000 $10,760 2.75%
    SANTA FE, NM (FHA|USDA|VA) 3 $1,945,000 $648,333 $4,602 2.92%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 4 $1,700,000 $425,000 $2,799 2.94%
    ALBUQUERQUE, NM (FHA|USDA|VA) 2 $1,690,000 $845,000 $12,809 2.94%
    Whitewater, WI (FHA|USDA|VA) 6 $1,510,000 $251,667 $2,991 2.65%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 6 $1,490,000 $248,333 $3,012 2.92%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 5 $1,455,000 $291,000 $4,238 2.93%
    HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 3 $1,325,000 $441,667 $5,761 2.92%
    MADISON, WI (FHA|USDA|VA) 6 $1,320,000 $220,000 $3,020 2.92%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 3 $1,215,000 $405,000 $7,744 3.08%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $1,180,000 $590,000 $5,204 3.38%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $1,135,000 $378,333 $3,072 3.54%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $1,040,000 $520,000 $4,132 2.81%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 4 $1,040,000 $260,000 $4,074 3.22%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $1,015,000 $1,015,000 $6,752 2.75%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $0 3.38%
    Heber, UT (FHA|USDA|VA) 1 $965,000 $965,000 $8,258 2.63%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 5 $945,000 $189,000 $4,863 3.08%
    Breckenridge, CO (FHA|USDA|VA) 1 $905,000 $905,000 $4,458 3.00%
    BLOOMINGTON, IN (FHA|USDA|VA) 3 $895,000 $298,333 $2,947 2.75%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $860,000 $430,000 $5,698 2.50%
    Bozeman, MT (FHA|USDA|VA) 2 $850,000 $425,000 $5,552 3.19%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $785,000 $785,000 $4,032 3.25%
    KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $770,000 $385,000 $4,390 2.81%
    PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $750,000 $375,000 $3,096 3.13%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 2 $710,000 $355,000 $4,523 2.56%
    Sevierville, TN (FHA|USDA|VA) 2 $680,000 $340,000 $4,159 3.19%
    CHATTANOOGA, TN-GA (FHA|USDA|VA) 2 $630,000 $315,000 $8,445 2.50%
    SALT LAKE CITY, UT (FHA|USDA|VA) 1 $605,000 $605,000 $0 3.50%
    PEORIA, IL (FHA|USDA|VA) 4 $600,000 $150,000 $2,617 3.47%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $580,000 $290,000 $2,231 2.81%
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $575,000 $575,000 $2,593 2.63%
    Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 2 $570,000 $285,000 $5,982 3.13%
    LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $545,000 $545,000 $4,225 3.00%
    TUCSON, AZ (FHA|USDA|VA) 1 $545,000 $545,000 $5,883 2.63%
    FORT COLLINS, CO (FHA|USDA|VA) 1 $545,000 $545,000 $3,440 2.88%
    COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $515,000 $515,000 $2,385 2.75%
    Ottawa, IL (FHA|USDA|VA) 3 $515,000 $171,667 $4,010 3.00%
    VALLEJO, CA (FHA|USDA|VA) 1 $475,000 $475,000 $5,160 3.00%
    GREEN BAY, WI (FHA|USDA|VA) 1 $475,000 $475,000 $2,673 3.13%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $460,000 $230,000 $3,840 2.94%
    Edwards, CO (FHA|USDA|VA) 1 $455,000 $455,000 $4,235 3.25%
    Sterling, IL (FHA|USDA|VA) 4 $430,000 $107,500 $2,895 2.75%
    Durant, OK (FHA|USDA|VA) 1 $425,000 $425,000 $12,834 2.25%
    SPARTANBURG, SC (FHA|USDA|VA) 1 $425,000 $425,000 $3,533 3.13%
    KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) 1 $415,000 $415,000 $0 4.00%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $405,000 $405,000 $3,546 2.88%
    Dixon, IL (FHA|USDA|VA) 2 $390,000 $195,000 $3,391 3.50%
    Eureka-Arcata, CA (FHA|USDA|VA) 1 $385,000 $385,000 $3,358 3.13%
    HUNTSVILLE, AL (FHA|USDA|VA) 1 $375,000 $375,000 $3,469 3.13%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $370,000 $185,000 $2,664 3.25%
    PUNTA GORDA, FL (FHA|USDA|VA) 2 $370,000 $185,000 $3,648 3.25%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $345,000 $345,000 $16,022 2.63%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $345,000 $345,000 $5,164 3.00%
    Concord, NH (FHA|USDA|VA) 1 $335,000 $335,000 $2,847 2.88%
    MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 1 $335,000 $335,000 $2,610 2.25%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 2 $330,000 $165,000 $3,098 3.81%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $325,000 $325,000 $0 2.50%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $315,000 $315,000 $3,541 2.75%
    Cañon City, CO (FHA|USDA|VA) 1 $315,000 $315,000 $3,504 2.88%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $315,000 $315,000 $4,024 2.75%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $305,000 $305,000 $2,903 2.63%
    MEDFORD, OR (FHA|USDA|VA) 1 $305,000 $305,000 $4,273 3.25%
    Mount Gay-Shamrock, WV (FHA|USDA|VA) 1 $295,000 $295,000 $5,189 3.25%
    PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $285,000 $285,000 $3,334 3.25%
    LOUISVILLE, KY (FHA|USDA|VA) 1 $285,000 $285,000 $3,969 4.38%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $275,000 $275,000 $2,583 3.50%
    THE VILLAGES, FL (FHA|USDA|VA) 1 $275,000 $275,000 $0 3.88%
    Watertown-Fort Atkinson, WI (FHA|USDA|VA) 1 $265,000 $265,000 $0 2.49%
    SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $265,000 $265,000 $9,314 2.25%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $245,000 $245,000 $2,771 3.88%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $3,783 2.50%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $235,000 $235,000 $2,422 2.75%
    KANKAKEE, IL (FHA|USDA|VA) 1 $225,000 $225,000 $3,142 3.38%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $225,000 $225,000 $2,642 2.88%
    BLOOMINGTON, IL (FHA|USDA|VA) 2 $220,000 $110,000 $2,107 4.06%
    APPLETON, WI (FHA|USDA|VA) 1 $215,000 $215,000 $2,393 3.00%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $215,000 $215,000 $2,267 2.63%
    Dayton, TN (FHA|USDA|VA) 1 $215,000 $215,000 $4,013 3.38%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $205,000 $205,000 $3,759 2.88%
    ROCKY MOUNT, NC (FHA|USDA|VA) 1 $205,000 $205,000 $2,888 2.38%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $195,000 $195,000 $4,601 2.88%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 1 $195,000 $195,000 $1,973 2.63%
    Lebanon, MO (FHA|USDA|VA) 1 $195,000 $195,000 $1,826 2.25%
    Calhoun, GA (FHA|USDA|VA) 1 $185,000 $185,000 $3,584 3.25%
    LAS CRUCES, NM (FHA|USDA|VA) 1 $185,000 $185,000 $1,781 3.13%
    SAVANNAH, GA (FHA|USDA|VA) 1 $175,000 $175,000 $3,312 3.13%
    HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 2.75%
    LINCOLN, NE (FHA|USDA|VA) 1 $165,000 $165,000 $0 2.25%
    Jacksonville, TX (FHA|USDA|VA) 1 $155,000 $155,000 $3,539 2.88%
    KNOXVILLE, TN (FHA|USDA|VA) 1 $155,000 $155,000 $3,778 2.88%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 1 $155,000 $155,000 $6,218 2.25%
    RACINE, WI (FHA|USDA|VA) 1 $145,000 $145,000 $3,161 2.88%
    NILES, MI (FHA|USDA|VA) 1 $135,000 $135,000 $0 2.75%
    Menomonie, WI (FHA|USDA|VA) 1 $125,000 $125,000 $0 2.75%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $115,000 $115,000 $2,048 3.00%
    Jacksonville, IL (FHA|USDA|VA) 1 $85,000 $85,000 $4,225 3.75%
    Danville, KY (FHA|USDA|VA) 1 $65,000 $65,000 $2,882 3.50%
    Winona, MN (FHA|USDA|VA) 1 $55,000 $55,000 $0 3.00%
    Midwest Community Bank's top markets include Chicago, Rockford, Freeport, Rochelle, and Phoenix among others.

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

    First Savings Bank of Hegewisch
    Similarity Rank: 45
    The Greenwood's State Bank
    Similarity Rank: 125
    State Bank of Cross Plains
    Similarity Rank: 150
    Liberty Bank for Savings
    Similarity Rank: 153
    Rock Valley Credit Union
    Similarity Rank: 196
    HERITAGE CREDIT UNION
    Similarity Rank: 306
    First Credit Union
    Similarity Rank: 378
    The Bank of New Glarus
    Similarity Rank: 551
    PremierBank
    Similarity Rank: 663
    Oregon Community Bank
    Similarity Rank: 693

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 2,001 $420,045,000 $209,918 $3,199 2.95%
    FHA 302 $53,070,000 $175,728 $7,249 3.00%
    VA 63 $16,575,000 $263,095 $5,792 2.54%

    For 2021, Midwest Community Bank's most frequently originated type of loan was Conventional, with 2,001 originations. Their 2nd most popular type was FHA, with 302 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,369 $279,415,000 $204,102 $4,735 3.03%
    Refi 676 $142,010,000 $210,074 $2,381 2.70%
    Cash Out Refi 321 $68,265,000 $212,664 $2,702 3.10%

    For 2021, Midwest Community Bank's most frequently cited loan purpose was Home Purchase, with 1,369 originations. The 2nd most popular reason was Refi, with 676 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,879 $408,175,000 $217,230 $4,208 3.06%
    15 Year 360 $58,550,000 $162,639 $2,248 2.43%
    20 Year 91 $17,275,000 $189,835 $2,478 2.83%
    10 Year 29 $4,275,000 $147,414 $2,154 2.35%
    Other 7 $1,415,000 $202,143 $3,465 2.93%

    For 2021, Midwest Community Bank's most frequently cited loan duration was 30 Year, with 1,879 originations. The 2nd most popular length was 15 Year, with 360 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 1,320 $297,980,000 $225,742
    $<1k 575 $89,105,000 $154,965
    $2k-3k 123 $31,695,000 $257,683
    $3k-4k 24 $8,330,000 $347,083
    $4k-5k 8 $2,860,000 $357,500
    $5k+ 7 $4,015,000 $573,571

    Midwest Community Bank's average total fees were $4,208, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,320 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 1,031 $237,005,000 $229,879
    3-4% 826 $158,130,000 $191,441
    <2.5% 471 $88,535,000 $187,972
    4-5% 38 $6,020,000 $158,421

    During 2021, Midwest Community Bank's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,031 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,034 $154,250,000 $149,178 $3,566 2.93%
    $200k-400k 800 $215,070,000 $268,838 $4,192 2.90%
    $100,000 or less 361 $26,475,000 $73,338 $2,976 3.09%
    $400k-600k 139 $67,135,000 $482,986 $4,610 2.96%
    $600k-1MM 25 $18,945,000 $757,800 $5,873 2.94%
    $1MM+ 7 $7,815,000 $1,116,429 $8,314 2.82%

    2021 saw Midwest Community Bank place emphasis on $100k-200k loans with 1,034 originations, totaling $154,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 595 $103,875,000 $174,580 $3,935 2.94%
    $50k or less 567 $72,335,000 $127,575 $4,051 2.98%
    $100k-150k 427 $102,685,000 $240,480 $3,482 2.92%
    $75k-100k 414 $85,880,000 $207,440 $3,817 2.96%
    $150k-250k 255 $78,425,000 $307,549 $3,416 2.91%
    $250k+ 101 $45,295,000 $448,465 $3,904 2.92%

    Midwest Community Bank lent most frequently to those with incomes in the $50k-75k range, with 595 originations. The second most popular income band? $50k or less, with 567 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 500 $96,070,000 $192,140 $2,984 2.87%
    30-36% 445 $91,565,000 $205,764 $3,631 2.95%
    <20% 159 $34,305,000 $215,755 $2,958 2.86%
    44% 130 $28,140,000 $216,462 $4,351 3.09%
    42% 102 $21,970,000 $215,392 $3,939 3.00%
    50-60% 100 $19,590,000 $195,900 $7,109 2.87%
    43% 94 $19,600,000 $208,511 $4,085 3.07%
    39% 92 $16,740,000 $181,957 $3,890 3.06%
    41% 90 $19,620,000 $218,000 $3,959 3.08%
    40% 89 $19,475,000 $218,820 $3,669 2.98%
    36% 83 $18,325,000 $220,783 $3,549 3.05%
    38% 81 $16,255,000 $200,679 $3,911 3.03%
    45% 80 $17,830,000 $222,875 $4,487 2.94%
    37% 76 $16,670,000 $219,342 $3,657 2.97%
    49% 65 $13,575,000 $208,846 $4,032 2.83%
    48% 63 $12,645,000 $200,714 $4,279 2.95%
    46% 49 $11,835,000 $241,531 $4,431 2.91%
    47% 46 $10,140,000 $220,435 $4,478 2.95%
    >60% 2 $660,000 $330,000 $3,641 2.81%

    Midwest Community Bank lent most frequently to those with DTI ratios of 20-30%, with 500 originations. The next most common DTI ratio? 30-36%, with 445 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 2,067 $427,395,000 $206,771 $3,733 2.93%
    Not provided 110 $22,060,000 $200,545 $4,152 3.13%
    Asian 80 $20,760,000 $259,500 $3,852 2.95%
    Black 82 $13,880,000 $169,268 $4,626 3.14%
    American Indian 25 $5,205,000 $208,200 $5,455 2.90%
    Native Hawaiian or Islander 2 $390,000 $195,000 $3,854 2.63%

    Approval Rates

    Total approvals of all applications
    96.59%

    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
    78.53%

    Midwest Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,366 $489,690,000 $206,970

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,366 $489,690,000 $206,970

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 47 $6,315,000 $134,362 $2,470 2.67%
    40-60% 229 $43,745,000 $191,026 $2,594 2.69%
    60-80% 836 $181,700,000 $217,344 $2,850 2.93%
    80-100% 1,238 $253,520,000 $204,782 $4,563 3.02%
    Over 100% 13 $4,275,000 $328,846 $12,577 2.56%
    Under 20% 3 $135,000 $45,000 $2,392 2.42%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Midwest Loan Services, Inc. Conventional home mortgage Incorrect information on your report 1 14.3%
    Midwest Loan Services, Inc. Conventional home mortgage Struggling to pay mortgage 1 14.3%
    Midwest Loan Services, Inc. Conventional home mortgage Trouble during payment process 2 28.6%
    Midwest Loan Services, Inc. FHA mortgage Trouble during payment process 1 14.3%
    Midwest Loan Services, Inc. Other type of mortgage Closing on a mortgage 1 14.3%
    Midwest Loan Services, Inc. VA mortgage Trouble during payment process 1 14.3%

    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 $57,294
    Midwest Community Bank 3963 N Perryville Rd Rockford, IL 61114 Full Service B&M $49,930
    Midwest Community Bank 510 Park Crest Drive Freeport, IL 61032 Full Service B&M $205,286

    For 2021, Midwest Community Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,475
    Net interest income $10,651
    Total noninterest income $81,071
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $113
    Trading account gains and fees $0
    Additional Noninterest Income $80,958
    Pre-tax net operating income $25,378
    Securities gains (or losses, -) $0
    Income before extraordinary items $25,378
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $25,378
    Minority interest net income $5,227
    Net income $20,151
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $25,378

    Midwest Community Bank's gross interest income from loans was $12,475,000.
    Midwest Community Bank's net interest income from loans was $10,651,000.
    Midwest Community Bank's fee based income from loans was $113,000.
    Midwest Community Bank's net income from loans was $20,151,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,824
    Provision for credit losses $0
    Total noninterest expense $66,344
    Salaries and employee benefits $46,465
    Premises and equipment expense $3,324
    Additional noninterest expense $16,555
    Applicable income taxes $0
    Net charge-offs $-45
    Cash dividends $10,500

    Midwest Community Bank's interest expense for loans was $1,824,000.
    Midwest Community Bank's payroll and benefits expense were $46,465,000.
    Midwest Community Bank's property, plant and equipment expenses $3,324,000.

    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 $275,029
    Deposits held in domestic offices $275,029
    Deposits by Individuals, partnerships, and corporations $272,387
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2,642
    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 $107,270
    Demand deposits $48,788
    Nontransaction accounts $167,759
    Money market deposit accounts (MMDAs) $56,765
    Other savings deposits (excluding MMDAs) $29,887
    Total time deposits $81,107
    Total time and savings deposits $226,241
    Noninterest-bearing deposits $50,764
    Interest-bearing deposits $224,265
    Retail deposits $257,784
    IRAs and Keogh plan accounts $14,395
    Brokered deposits $12,500
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $331,935
    Cash & Balances due from depository institutions $93,124
    Interest-bearing balances $83,293
    Total securities $1,679
    Federal funds sold & reverse repurchase $0
    Net loans and leases $219,337
    Loan and leases loss allowance $2,633
    Trading account assets $0
    Bank premises and fixed assets $3,269
    Other real estate owned $2,551
    Goodwill and other intangibles $2,115
    All other assets $9,860

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $331,935
    Total Liabilities $276,849
    Total deposits $275,029
    Interest-bearing deposits $224,265
    Deposits held in domestic offices $275,029
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,820

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $219,337
    Loan and leases loss allowance $2,633
    Total loans and leases (domestic) $221,970
    All real estate loans $186,912
    Real estate loans in domestic offices $186,912
    Construction and development loans $2,623
    Residential 1-4 family construction $2,623
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $11,367
    Nonfarm nonresidential secured by owner-occupied properties $3,792
    Commercial real estate & other non-farm, non-residential $7,575
    Multifamily residential real estate $69,624
    1-4 family residential loans $91,880
    Farmland loans $11,418
    Loans held in foreign offices $0
    Farm loans $29,320
    Commercial and industrial loans $5,374
    To non-U.S. addressees $0
    Loans to individuals $357
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $29
    Other loans to individuals $328
    All other loans & leases $7
    Loans to foreign governments and official institutions $0
    Other loans $7
    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 $240
    Non 1-4 family restructured loans & leases $240
    Total loans and leases (foreign) $0

    Midwest Community Bank had $219,337,000 of loans outstanding in 2021. $186,912,000 of loans were in real estate loans. $2,623,000 of loans were in development loans. $69,624,000 of loans were in multifamily mortgage loans. $91,880,000 of loans were in 1-4 family mortgage loans. $29,320,000 of loans were in farm loans. $0 of loans were in credit card loans. $29,000 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 18 $4,238 $235,444
    Nonfarm, nonresidential loans - <$100k 4 $104 $26,000
    Nonfarm, nonresidential loans - $100-250k 5 $583 $116,600
    Nonfarm, nonresidential loans - $250k-1MM 9 $3,551 $394,556
    Commercial & Industrial, US addressed loans - <$1MM 28 $3,002 $107,214
    Commercial & Industrial, US addressed loans - <$100k 17 $300 $17,647
    Commercial & Industrial, US addressed loans - $100-250k 4 $438 $109,500
    Commercial & Industrial, US addressed loans - $250k-1MM 7 $2,264 $323,429
    Farmland loans - <$1MM 21 $3,810 $181,429
    Farmland loans - <$100k 3 $203 $67,667
    Farmland loans - $100-250k 7 $899 $128,429
    Farmland loans - $250k-1MM 11 $2,708 $246,182
    Agriculture operations loans - <$1MM 47 $4,232 $90,043
    Agriculture operations loans - <$100k 26 $766 $29,462
    Agriculture operations loans - $100-250k 13 $1,327 $102,077
    Agriculture operations loans - $250k-1MM 8 $2,139 $267,375