Union Savings Bank Mortgage Rates, Fees & Info

Freeport, IL

LEI: 549300OEWY869SOVHF18

Tax ID: 36-1893340

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Union Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Union Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Rockford, Freeport, Rochelle, Chicago, and Dixon among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Union Savings 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.

    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.

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    Originations

    129

    Origination Dollar Volume (All Markets)

    $21,335,000

    Employee count

    54

    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
    ROCKFORD, IL (FHA|USDA|VA) 25 $9,465,000 $378,600 $0 0.00%
    Freeport, IL (FHA|USDA|VA) 55 $5,565,000 $101,182 $0 0.00%
    Rochelle, IL (FHA|USDA|VA) 39 $4,685,000 $120,128 $0 0.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 2 $560,000 $280,000 $0 0.00%
    Dixon, IL (FHA|USDA|VA) 3 $325,000 $108,333 $0 0.00%
    MADISON, WI (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    Whitewater, WI (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    Outside of Metro Areas 2 $190,000 $95,000 $0 0.00%
    Sterling, IL (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Union Savings Bank's top markets include Rockford, Freeport, Rochelle, Chicago, and Dixon among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 115 $20,265,000 $176,217 $0 0.00%
    USDA 14 $1,070,000 $76,429 $0 0.00%

    For 2019, Union Savings Bank's most frequently originated type of loan was Conventional, with 115 originations. Their 2nd most popular type was USDA, with 14 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 66 $13,910,000 $210,758 $0 0.00%
    Cash Out Refi 42 $4,970,000 $118,333 $0 0.00%
    Refi 21 $2,455,000 $116,905 $0 0.00%

    For 2019, Union Savings Bank's most frequently cited loan purpose was Home Purchase, with 66 originations. The 2nd most popular reason was Cash Out Refi, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 129 $21,335,000 $165,388 $0 0.00%

    For 2019, Union Savings Bank's most frequently cited loan duration was Other, with 129 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 69 $4,575,000 $66,304 $0 0.00%
    $100k-200k 45 $6,185,000 $137,444 $0 0.00%
    $200k-400k 13 $3,155,000 $242,692 $0 0.00%
    $1MM+ 1 $7,015,000 $7,015,000 $0 0.00%
    $400k-600k 1 $405,000 $405,000 $0 0.00%

    2019 saw Union Savings Bank place emphasis on $100,000 or less loans with 69 originations, totaling $4,575,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 36 $2,670,000 $74,167 $0 0.00%
    $50k-75k 31 $3,165,000 $102,097 $0 0.00%
    $100k-150k 21 $3,345,000 $159,286 $0 0.00%
    $75k-100k 17 $2,095,000 $123,235 $0 0.00%
    $150k-250k 8 $1,600,000 $200,000 $0 0.00%
    $250k+ 2 $7,360,000 $3,680,000 $0 0.00%

    Union Savings Bank lent most frequently to those with incomes in the $50k or less range, with 36 originations. The second most popular income band? $50k-75k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 129 $21,335,000 $165,388 $0 0.00%

    Union Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 129 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 113 $20,085,000 $177,743 $0 0.00%
    Not applicable 14 $1,100,000 $78,571 $0 0.00%
    Black 2 $150,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.02%

    Union Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.27%

    Union Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 129 $21,335,000 $165,388

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 129 $21,335,000 $165,388

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Union Savings Bank 1320 North State Street Belvidere, IL 61008 Full Service B&M $17,313
    Union Savings Bank 2 West Main Street Mount Morris, IL 61054 Full Service B&M $28,373
    Union Savings Bank 203 North Alpine Road Rockford, IL 61107 Full Service B&M $13,295
    Union Savings Bank 223 West Stephenson Street Freeport, IL 61032 Full Service B&M $57,982
    Union Savings Bank 715 West South Street Freeport, IL 61032 Full Service B&M $20,858

    For 2019, Union Savings Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,041
    Net interest income $5,118
    Total noninterest income $1,581
    Gross Fiduciary activities income $592
    Service charges on deposit accounts $327
    Trading account gains and fees $0
    Additional Noninterest Income $662
    Pre-tax net operating income $767
    Securities gains (or losses, -) $0
    Income before extraordinary items $577
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $577
    Minority interest net income $0
    Net income $577
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $577

    Union Savings Bank's gross interest income from loans was $6,041,000.
    Union Savings Bank's net interest income from loans was $5,118,000.
    Union Savings Bank's fee based income from loans was $327,000.
    Union Savings Bank's net income from loans was $577,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $923
    Provision for credit losses $32
    Total noninterest expense $5,900
    Salaries and employee benefits $3,567
    Premises and equipment expense $632
    Additional noninterest expense $1,701
    Applicable income taxes $190
    Net charge-offs $140
    Cash dividends $4

    Union Savings Bank's interest expense for loans was $923,000.
    Union Savings Bank's payroll and benefits expense were $3,567,000.
    Union Savings Bank's property, plant and equipment expenses $632,000.

    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 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 1.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $137,053
    Deposits held in domestic offices $137,053
    Deposits by Individuals, partnerships, and corporations $134,304
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2,599
    Deposits by Commercial banks and other depository institutions in U.S. $150
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $43,411
    Demand deposits $11,419
    Nontransaction accounts $93,642
    Money market deposit accounts (MMDAs) $9,312
    Other savings deposits (excluding MMDAs) $38,412
    Total time deposits $45,918
    Total time and savings deposits $125,634
    Noninterest-bearing deposits $13,294
    Interest-bearing deposits $123,759
    Retail deposits $135,310
    IRAs and Keogh plan accounts $16,631
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $154,500
    Cash & Balances due from depository institutions $8,320
    Interest-bearing balances $5,766
    Total securities $29,960
    Federal funds sold & reverse repurchase $2,704
    Net loans and leases $108,620
    Loan and leases loss allowance $823
    Trading account assets $0
    Bank premises and fixed assets $3,206
    Other real estate owned $265
    Goodwill and other intangibles $145
    All other assets $1,280

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $154,500
    Total Liabilities $138,362
    Total deposits $137,053
    Interest-bearing deposits $123,759
    Deposits held in domestic offices $137,053
    % insured (estimated) $98
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,309

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $108,620
    Loan and leases loss allowance $823
    Total loans and leases (domestic) $109,443
    All real estate loans $94,329
    Real estate loans in domestic offices $94,329
    Construction and development loans $342
    Residential 1-4 family construction $45
    Other construction, all land development and other land $297
    Loans secured by nonfarm nonresidential properties $21,992
    Nonfarm nonresidential secured by owner-occupied properties $18,539
    Commercial real estate & other non-farm, non-residential $3,453
    Multifamily residential real estate $6,750
    1-4 family residential loans $55,845
    Farmland loans $9,400
    Loans held in foreign offices $0
    Farm loans $1,559
    Commercial and industrial loans $8,759
    To non-U.S. addressees $0
    Loans to individuals $4,796
    Credit card loans $0
    Related Plans $103
    Consumer Auto Loans $4,232
    Other loans to individuals $461
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $12
    Non 1-4 family restructured loans & leases $12
    Total loans and leases (foreign) $0

    Union Savings Bank had $108,620,000 of loans outstanding in 2019. $94,329,000 of loans were in real estate loans. $342,000 of loans were in development loans. $6,750,000 of loans were in multifamily mortgage loans. $55,845,000 of loans were in 1-4 family mortgage loans. $1,559,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,232,000 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 70 $15,288 $218,400
    Nonfarm, nonresidential loans - <$100k 33 $1,872 $56,727
    Nonfarm, nonresidential loans - $100-250k 16 $2,004 $125,250
    Nonfarm, nonresidential loans - $250k-1MM 21 $11,412 $543,429
    Commercial & Industrial, US addressed loans - <$1MM 127 $3,073 $24,197
    Commercial & Industrial, US addressed loans - <$100k 121 $2,556 $21,124
    Commercial & Industrial, US addressed loans - $100-250k 6 $517 $86,167
    Farmland loans - <$1MM 8 $1,616 $202,000
    Farmland loans - <$100k 3 $105 $35,000
    Farmland loans - $100-250k 2 $398 $199,000
    Farmland loans - $250k-1MM 3 $1,113 $371,000
    Agriculture operations loans - <$1MM 11 $576 $52,364
    Agriculture operations loans - <$100k 10 $345 $34,500
    Agriculture operations loans - $100-250k 1 $231 $231,000