Bank Of Hillsboro Mortgage Rates, Fees & Info

Hillsboro, IL

LEI: 549300KTBKVRBY302A16

Tax ID: 37-0611788

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

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  • 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

    Bank Of Hillsboro is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Bank Of Hillsboro has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Effingham, Taylorville, Centralia, and Peoria among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Hillsboro has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Bank Of Hillsboro 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.83% 5/4/24
    30 Year Conventional Refi 6.58% 5/4/24
    30 Year Cash-out Refi 6.95% 5/4/24
    15 Year Conventional Purchase 6.29% 5/4/24
    15 Year Conventional Refi 5.75% 5/4/24
    15 Year Cash-out Refi 5.75% 5/4/24
    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.

    Bank Of Hillsboro Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bank Of Hillsboro. 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

    128

    Origination Dollar Volume (All Markets)

    $13,190,000

    Employee count

    98

    Awards

    Bank of Hillsboro 30 Year Conventional Loans gold Bank of Hillsboro 30 Year Conventional Loans gold Bank of Hillsboro 30 Year Conventional Loans gold
    Show all (3) 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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 56 $6,080,000 $108,571 $1,740 4.81%
    Outside of Metro Areas 54 $5,140,000 $95,185 $1,454 4.70%
    Effingham, IL (FHA|USDA|VA) 7 $705,000 $100,714 $1,472 4.67%
    Taylorville, IL (FHA|USDA|VA) 5 $475,000 $95,000 $1,423 5.08%
    Centralia, IL (FHA|USDA|VA) 3 $395,000 $131,667 $1,576 4.67%
    PEORIA, IL (FHA|USDA|VA) 2 $270,000 $135,000 $1,826 4.75%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.25%
    Bank Of Hillsboro's top markets include St. Louis, Effingham, Taylorville, Centralia, and Peoria among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Similar Lenders

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

    Ozarks Federal Savings and Loan Association
    Similarity Rank: 100
    Community Bank of Trenton
    Similarity Rank: 108
    First National Bank of Waterloo
    Similarity Rank: 200
    RELIANCE BANK
    Similarity Rank: 238
    CapGrow Home Mortgage, LLC
    Similarity Rank: 272
    JERSEY STATE BANK
    Similarity Rank: 354
    Farmers and Merchants Bank of St. Clair
    Similarity Rank: 408
    United Bank of Union
    Similarity Rank: 415
    HNB National Bank
    Similarity Rank: 576
    Bank of Hillsboro
    Similarity Rank: 679

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 128 $13,190,000 $103,047 $1,574 4.77%

    For 2018, Bank Of Hillsboro's most frequently originated type of loan was Conventional, with 128 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 72 $8,340,000 $115,833 $1,637 4.68%
    Cash Out Refi 30 $2,950,000 $98,333 $1,656 4.90%
    Refi 15 $1,355,000 $90,333 $1,494 4.55%
    Home Improvement 6 $210,000 $35,000 $996 5.05%
    Other 5 $335,000 $67,000 $1,346 5.53%

    For 2018, Bank Of Hillsboro's most frequently cited loan purpose was Home Purchase, with 72 originations. The 2nd most popular reason was Cash Out Refi, with 30 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 59 $7,405,000 $125,508 $1,739 4.80%
    15 Year 35 $2,625,000 $75,000 $1,433 4.54%
    20 Year 25 $2,595,000 $103,800 $1,426 4.76%
    Other 4 $270,000 $67,500 $1,199 5.51%
    5 Year 3 $195,000 $65,000 $0 5.00%
    10 Year 2 $100,000 $50,000 $569 6.00%

    For 2018, Bank Of Hillsboro's most frequently cited loan duration was 30 Year, with 59 originations. The 2nd most popular length was 15 Year, with 35 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 95 $9,695,000 $102,053
    $1k-2k 12 $1,710,000 $142,500
    $2k-3k 1 $245,000 $245,000

    Bank Of Hillsboro's average total fees were $1,739, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 95 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 93 $10,165,000 $109,301
    5-6% 21 $1,555,000 $74,048
    3-4% 10 $1,320,000 $132,000
    6-7% 4 $150,000 $37,500

    During 2018, Bank Of Hillsboro's average interest rate for loans was 4.80%, while their most frequently originated rate bucket for loans was 4-5%, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 72 $4,250,000 $59,028 $1,366 4.85%
    $100k-200k 46 $6,420,000 $139,565 $1,669 4.68%
    $200k-400k 10 $2,520,000 $252,000 $2,313 4.51%

    2018 saw Bank Of Hillsboro place emphasis on $100,000 or less loans with 72 originations, totaling $4,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 33 $2,555,000 $77,424 $1,658 4.69%
    $50k-75k 25 $2,675,000 $107,000 $1,507 4.79%
    $75k-100k 25 $2,695,000 $107,800 $1,554 4.70%
    $100k-150k 19 $2,085,000 $109,737 $1,697 4.84%
    $150k-250k 9 $1,555,000 $172,778 $1,483 4.68%
    $250k+ 5 $715,000 $143,000 $1,267 4.83%

    Bank Of Hillsboro lent most frequently to those with incomes in the $50k or less range, with 33 originations. The second most popular income band? $50k-75k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 33 $2,765,000 $83,788 $1,527 4.97%
    30-36% 23 $3,115,000 $135,435 $1,725 4.84%
    <20% 21 $2,025,000 $96,429 $1,388 4.56%
    43% 6 $830,000 $138,333 $1,538 4.63%
    37% 5 $525,000 $105,000 $1,402 4.45%
    38% 5 $515,000 $103,000 $1,404 4.68%
    36% 5 $435,000 $87,000 $1,342 4.30%
    44% 5 $795,000 $159,000 $1,734 4.60%
    39% 3 $105,000 $35,000 $1,084 4.64%
    41% 2 $170,000 $85,000 $1,350 4.63%
    40% 2 $270,000 $135,000 $3,266 4.88%
    46% 2 $300,000 $150,000 $2,720 4.50%
    >60% 1 $185,000 $185,000 $2,673 3.63%
    47% 1 $75,000 $75,000 $1,543 4.75%
    48% 1 $115,000 $115,000 $1,549 5.38%
    50-60% 1 $35,000 $35,000 $1,649 5.00%
    45% 1 $75,000 $75,000 $2,037 5.00%

    Bank Of Hillsboro lent most frequently to those with DTI ratios of 20-30%, with 33 originations. The next most common DTI ratio? 30-36%, with 23 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 112 $11,370,000 $101,518 $1,570 4.75%
    Not applicable 11 $855,000 $77,727 $0 5.02%
    Not provided 3 $535,000 $178,333 $1,853 4.79%
    Asian 2 $430,000 $215,000 $1,207 4.31%

    Approval Rates

    Total approvals of all applications
    88.66%

    Bank Of Hillsboro has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.09%

    Bank Of Hillsboro has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 128 $13,190,000 $103,047

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 10 $670,000 $67,000
    Single Family (1-4 Units):Site-Built 118 $12,520,000 $106,102

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $580,000 $58,000 $1,043 4.84%
    40-60% 17 $1,775,000 $104,412 $1,392 4.49%
    60-80% 61 $6,905,000 $113,197 $1,702 4.72%
    80-100% 37 $3,835,000 $103,649 $1,689 4.88%
    Under 20% 3 $95,000 $31,667 $756 5.60%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 3 11.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 5 18.5%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Incorrect information on your report 2 7.4%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST FHA mortgage Closing on a mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 1 3.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.4%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    National Bank 1013 Mulberry Street Keyesport, IL 62253 Full Service B&M $12,807
    National Bank 110 South Hamilton Street Hillsboro, IL 62049 Limited, Drive-thru $0
    National Bank 2200 Troy Road Edwardsville, IL 62025 Full Service B&M $28,989
    National Bank 230 South Main Street Hillsboro, IL 62049 Full Service B&M $95,006
    National Bank 302 West Second Street Pana, IL 62557 Full Service B&M $14,214
    National Bank 40 Apex Drive Highland, IL 62249 Full Service B&M $15,370
    National Bank 5 West Lincoln Altamont, IL 62411 Full Service B&M $8,270
    National Bank 501 North Keller Drive Effingham, IL 62401 Full Service B&M $16,549
    National Bank 502 East Main Street Alhambra, IL 62001 Full Service B&M $24,561
    National Bank 520 Gochenour Street Vandalia, IL 62471 Full Service B&M $32,339
    National Bank 605 South Third Street Greenville, IL 62246 Full Service B&M $19,499
    National Bank 801 12th Street Carlyle, IL 62231 Full Service B&M $25,814

    For 2018, Bank Of Hillsboro had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,588
    Net interest income $10,954
    Total noninterest income $1,699
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $554
    Trading account gains and fees $0
    Additional Noninterest Income $1,145
    Pre-tax net operating income $4,309
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,220
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,220
    Minority interest net income $0
    Net income $3,220
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,220

    Bank Of Hillsboro's gross interest income from loans was $12,588,000.
    Bank Of Hillsboro's net interest income from loans was $10,954,000.
    Bank Of Hillsboro's fee based income from loans was $554,000.
    Bank Of Hillsboro's net income from loans was $3,220,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,634
    Provision for credit losses $222
    Total noninterest expense $8,122
    Salaries and employee benefits $4,700
    Premises and equipment expense $1,271
    Additional noninterest expense $2,151
    Applicable income taxes $1,089
    Net charge-offs $-131
    Cash dividends $900

    Bank Of Hillsboro's interest expense for loans was $1,634,000.
    Bank Of Hillsboro's payroll and benefits expense were $4,700,000.
    Bank Of Hillsboro's property, plant and equipment expenses $1,271,000.

    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 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    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 $300,638
    Deposits held in domestic offices $300,638
    Deposits by Individuals, partnerships, and corporations $261,032
    Deposits by U.S. Government $9
    Deposits by States and political subdivisions in the U.S. $38,075
    Deposits by Commercial banks and other depository institutions in U.S. $1,522
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $93,007
    Demand deposits $46,675
    Nontransaction accounts $207,631
    Money market deposit accounts (MMDAs) $59,665
    Other savings deposits (excluding MMDAs) $56,443
    Total time deposits $91,523
    Total time and savings deposits $253,963
    Noninterest-bearing deposits $93,007
    Interest-bearing deposits $207,631
    Retail deposits $284,844
    IRAs and Keogh plan accounts $11,207
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $339,141
    Cash & Balances due from depository institutions $15,922
    Interest-bearing balances $5,553
    Total securities $66,838
    Federal funds sold & reverse repurchase $685
    Net loans and leases $240,032
    Loan and leases loss allowance $4,153
    Trading account assets $0
    Bank premises and fixed assets $11,424
    Other real estate owned $0
    Goodwill and other intangibles $185
    All other assets $4,055

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $339,141
    Total Liabilities $301,464
    Total deposits $300,638
    Interest-bearing deposits $207,631
    Deposits held in domestic offices $300,638
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $826

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $240,032
    Loan and leases loss allowance $4,153
    Total loans and leases (domestic) $244,185
    All real estate loans $198,001
    Real estate loans in domestic offices $198,001
    Construction and development loans $8,917
    Residential 1-4 family construction $1,154
    Other construction, all land development and other land $7,763
    Loans secured by nonfarm nonresidential properties $100,849
    Nonfarm nonresidential secured by owner-occupied properties $46,633
    Commercial real estate & other non-farm, non-residential $54,216
    Multifamily residential real estate $0
    1-4 family residential loans $39,261
    Farmland loans $48,974
    Loans held in foreign offices $0
    Farm loans $16,377
    Commercial and industrial loans $26,310
    To non-U.S. addressees $0
    Loans to individuals $2,138
    Credit card loans $0
    Related Plans $37
    Consumer Auto Loans $1,007
    Other loans to individuals $1,094
    All other loans & leases $1,359
    Loans to foreign governments and official institutions $0
    Other loans $89
    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 $5,131
    Non 1-4 family restructured loans & leases $4,497
    Total loans and leases (foreign) $0

    Bank of Hillsboro had $240,032,000 of loans outstanding in 2018. $198,001,000 of loans were in real estate loans. $8,917,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $39,261,000 of loans were in 1-4 family mortgage loans. $16,377,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,007,000 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 181 $29,191 $161,276
    Nonfarm, nonresidential loans - <$100k 79 $2,751 $34,823
    Nonfarm, nonresidential loans - $100-250k 44 $5,126 $116,500
    Nonfarm, nonresidential loans - $250k-1MM 58 $21,314 $367,483
    Commercial & Industrial, US addressed loans - <$1MM 135 $16,241 $120,304
    Commercial & Industrial, US addressed loans - <$100k 79 $2,502 $31,671
    Commercial & Industrial, US addressed loans - $100-250k 33 $3,855 $116,818
    Commercial & Industrial, US addressed loans - $250k-1MM 23 $9,884 $429,739
    Farmland loans - <$1MM 159 $20,095 $126,384
    Farmland loans - <$100k 64 $2,210 $34,531
    Farmland loans - $100-250k 54 $6,554 $121,370
    Farmland loans - $250k-1MM 41 $11,331 $276,366
    Agriculture operations loans - <$1MM 144 $8,631 $59,938
    Agriculture operations loans - <$100k 108 $3,126 $28,944
    Agriculture operations loans - $100-250k 25 $2,380 $95,200
    Agriculture operations loans - $250k-1MM 11 $3,125 $284,091