Union Savings Bank Mortgage Rates, Fees & Info
Freeport, ILLEI: 549300OEWY869SOVHF18
Tax ID: 36-1893340
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Bank Data
Review & Overview
Union Savings Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Union Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Rochelle, Freeport, Rockford, Milwaukee, and Chicago among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Union Savings Bank 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.
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.
Originations
203Origination Dollar Volume (All Markets)
$26,025,000Employee count
50Top 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 |
|---|---|---|---|---|---|
| Rochelle, IL (FHA|USDA|VA) | 74 | $9,400,000 | $127,027 | $0 | 0.00% |
| Freeport, IL (FHA|USDA|VA) | 63 | $6,555,000 | $104,048 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 48 | $6,220,000 | $129,583 | $0 | 0.00% |
| Outside of Metro Areas | 7 | $1,115,000 | $159,286 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 1 | $725,000 | $725,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $0 | 0.00% |
| Dixon, IL (FHA|USDA|VA) | 4 | $540,000 | $135,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| Sterling, IL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| DUBUQUE, IA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 203 | $26,025,000 | $128,202 | $0 | 0.00% |
For 2021, Union Savings Bank's most frequently originated type of loan was Conventional, with 203 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 81 | $11,585,000 | $143,025 | $0 | 0.00% |
| Cash Out Refi | 63 | $7,635,000 | $121,190 | $0 | 0.00% |
| Refi | 59 | $6,805,000 | $115,339 | $0 | 0.00% |
For 2021, Union Savings Bank's most frequently cited loan purpose was Home Purchase, with 81 originations. The 2nd most popular reason was Cash Out Refi, with 63 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 203 | $26,025,000 | $128,202 | $0 | 0.00% |
For 2021, Union Savings Bank's most frequently cited loan duration was Other, with 203 originations.
Loan Sizing
2021 saw Union Savings Bank place emphasis on $100k-200k loans with 94 originations, totaling $12,860,000 in origination value.
Applicant Income
Union Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 54 originations. The second most popular income band? $50k or less, with 53 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 203 | $26,025,000 | $128,202 | $0 | 0.00% |
Union Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 203 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.39%
Union Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination83.74%
Union Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 203 | $26,025,000 | $128,202 |
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 | $21,995 |
| Union Savings Bank | 2 West Main Street Mount Morris, IL 61054 | Full Service B&M | $33,445 |
| Union Savings Bank | 203 North Alpine Road Rockford, IL 61107 | Full Service B&M | $15,899 |
| Union Savings Bank | 223 West Stephenson Street Freeport, IL 61032 | Full Service B&M | $69,575 |
| Union Savings Bank | 715 West South Street Freeport, IL 61032 | Full Service B&M | $28,962 |
For 2021, Union Savings Bank had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $5,288 |
| Net interest income | $4,657 |
| Total noninterest income | $1,958 |
| Gross Fiduciary activities income | $697 |
| Service charges on deposit accounts | $268 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $993 |
| Pre-tax net operating income | $276 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $209 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $209 |
| Minority interest net income | $0 |
| Net income | $209 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $209 |
Union Savings Bank's gross interest income from loans was $5,288,000.
Union Savings Bank's net interest income from loans was $4,657,000.
Union Savings Bank's fee based income from loans was $268,000.
Union Savings Bank's net income from loans was $209,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $631 |
| Provision for credit losses | $20 |
| Total noninterest expense | $6,319 |
| Salaries and employee benefits | $4,083 |
| Premises and equipment expense | $623 |
| Additional noninterest expense | $1,613 |
| Applicable income taxes | $67 |
| Net charge-offs | $26 |
| Cash dividends | $4 |
Union Savings Bank's interest expense for loans was $631,000.
Union Savings Bank's payroll and benefits expense were $4,083,000.
Union Savings Bank's property, plant and equipment expenses $623,000.
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 | $177,792 |
| Deposits held in domestic offices | $177,792 |
| Deposits by Individuals, partnerships, and corporations | $174,656 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $2,986 |
| 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 | $62,551 |
| Demand deposits | $17,543 |
| Nontransaction accounts | $115,241 |
| Money market deposit accounts (MMDAs) | $11,239 |
| Other savings deposits (excluding MMDAs) | $58,900 |
| Total time deposits | $45,102 |
| Total time and savings deposits | $160,249 |
| Noninterest-bearing deposits | $20,679 |
| Interest-bearing deposits | $157,113 |
| Retail deposits | $175,095 |
| IRAs and Keogh plan accounts | $16,705 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $194,863 |
| Cash & Balances due from depository institutions | $15,160 |
| Interest-bearing balances | $12,669 |
| Total securities | $63,928 |
| Federal funds sold & reverse repurchase | $198 |
| Net loans and leases | $109,412 |
| Loan and leases loss allowance | $902 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,682 |
| Other real estate owned | $132 |
| Goodwill and other intangibles | $189 |
| All other assets | $1,162 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $194,863 |
| Total Liabilities | $178,903 |
| Total deposits | $177,792 |
| Interest-bearing deposits | $157,113 |
| Deposits held in domestic offices | $177,792 |
| % insured (estimated) | $94 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $1,111 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $109,412 |
| Loan and leases loss allowance | $902 |
| Total loans and leases (domestic) | $110,314 |
| All real estate loans | $100,749 |
| Real estate loans in domestic offices | $100,749 |
| Construction and development loans | $499 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $499 |
| Loans secured by nonfarm nonresidential properties | $17,539 |
| Nonfarm nonresidential secured by owner-occupied properties | $16,409 |
| Commercial real estate & other non-farm, non-residential | $1,130 |
| Multifamily residential real estate | $2,696 |
| 1-4 family residential loans | $71,916 |
| Farmland loans | $8,099 |
| Loans held in foreign offices | $0 |
| Farm loans | $589 |
| Commercial and industrial loans | $6,346 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,630 |
| Credit card loans | $0 |
| Related Plans | $69 |
| Consumer Auto Loans | $2,198 |
| Other loans to individuals | $363 |
| 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 | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Union Savings Bank had $109,412,000 of loans outstanding in 2021. $100,749,000 of loans were in real estate loans. $499,000 of loans were in development loans. $2,696,000 of loans were in multifamily mortgage loans. $71,916,000 of loans were in 1-4 family mortgage loans. $589,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,198,000 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 | 69 | $13,804 | $200,058 |
| Nonfarm, nonresidential loans - <$100k | 29 | $843 | $29,069 |
| Nonfarm, nonresidential loans - $100-250k | 18 | $2,264 | $125,778 |
| Nonfarm, nonresidential loans - $250k-1MM | 22 | $10,697 | $486,227 |
| Commercial & Industrial, US addressed loans - <$1MM | 105 | $3,790 | $36,095 |
| Commercial & Industrial, US addressed loans - <$100k | 96 | $2,641 | $27,510 |
| Commercial & Industrial, US addressed loans - $100-250k | 8 | $849 | $106,125 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 1 | $300 | $300,000 |
| Farmland loans - <$1MM | 11 | $1,606 | $146,000 |
| Farmland loans - <$100k | 5 | $45 | $9,000 |
| Farmland loans - $100-250k | 3 | $514 | $171,333 |
| Farmland loans - $250k-1MM | 3 | $1,047 | $349,000 |
| Agriculture operations loans - <$1MM | 7 | $259 | $37,000 |
| Agriculture operations loans - <$100k | 7 | $259 | $37,000 |