Lincolnway Community Bank Mortgage Rates, Fees & Info

New Lenox, IL

LEI: 549300QLL0WGOPA6R131

Tax ID: 20-2895970

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Mortgage Data

Bank Data

Review & Overview

Lincolnway Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Lincolnway Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Miami, and Niles among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

Lincolnway 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. They typically have relatively high rates.

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Originations

109

Origination Dollar Volume (All Markets)

$25,845,000

Employee count

37

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) 107 $21,785,000 $203,598 $0 6.94%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $3,405,000 $3,405,000 $0 5.75%
NILES, MI (FHA|USDA|VA) 1 $655,000 $655,000 $0 6.75%
Lincolnway Community Bank's top markets include Chicago, Miami, and Niles among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 109 $25,845,000 $237,110 $0 6.93%

    For 2018, Lincolnway Community Bank's most frequently originated type of loan was Conventional, with 109 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 80 $12,880,000 $161,000 $0 6.94%
    Refi 18 $11,020,000 $612,222 $0 6.89%
    Home Improvement 11 $1,945,000 $176,818 $0 6.86%

    For 2018, Lincolnway Community Bank's most frequently cited loan purpose was Home Purchase, with 80 originations. The 2nd most popular reason was Refi, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 86 $16,990,000 $197,558 $0 7.15%
    5 Year 12 $4,600,000 $383,333 $0 6.07%
    3 Year 5 $1,585,000 $317,000 $0 5.79%
    Other 5 $2,065,000 $413,000 $0 6.40%
    30 Year 1 $605,000 $605,000 $0 5.95%

    For 2018, Lincolnway Community Bank's most frequently cited loan duration was 1 Year, with 86 originations. The 2nd most popular length was 5 Year, with 12 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 59 $11,185,000 $189,576
    7-8% 36 $4,680,000 $130,000
    5-6% 12 $9,210,000 $767,500
    4-5% 1 $455,000 $455,000
    Over 8% 1 $315,000 $315,000

    During 2018, Lincolnway Community Bank's average interest rate for loans was 5.95%, while their most frequently originated rate bucket for loans was 6-7%, with 59 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 39 $5,545,000 $142,179 $0 6.97%
    $100,000 or less 37 $2,665,000 $72,027 $0 6.96%
    $200k-400k 19 $5,465,000 $287,632 $0 7.47%
    $600k-1MM 7 $5,275,000 $753,571 $0 6.03%
    $400k-600k 5 $2,375,000 $475,000 $0 5.90%
    $1MM+ 2 $4,520,000 $2,260,000 $0 5.75%

    2018 saw Lincolnway Community Bank place emphasis on $100k-200k loans with 39 originations, totaling $5,545,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 11 $4,535,000 $412,273 $0 6.82%
    $100k-150k 3 $205,000 $68,333 $0 6.92%
    $50k-75k 3 $645,000 $215,000 $0 6.83%
    $75k-100k 2 $360,000 $180,000 $0 7.13%
    $150k-250k 1 $65,000 $65,000 $0 7.25%

    Lincolnway Community Bank lent most frequently to those with incomes in the $250k+ range, with 11 originations. The second most popular income band? $100k-150k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    37% 8 $770,000 $96,250 $0 6.91%
    <20% 3 $645,000 $215,000 $0 6.83%
    20-30% 2 $170,000 $85,000 $0 7.25%
    38% 1 $35,000 $35,000 $0 6.25%
    40% 1 $235,000 $235,000 $0 7.00%
    43% 1 $145,000 $145,000 $0 7.25%
    50-60% 1 $215,000 $215,000 $0 7.00%
    >60% 1 $655,000 $655,000 $0 6.75%
    30-36% 1 $65,000 $65,000 $0 7.25%
    36% 1 $125,000 $125,000 $0 7.00%

    Lincolnway Community Bank lent most frequently to those with DTI ratios of 37%, with 8 originations. The next most common DTI ratio? <20%, with 3 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 85 $18,075,000 $212,647 $0 6.97%
    White 15 $6,585,000 $439,000 $0 6.71%
    Asian 9 $1,185,000 $131,667 $0 6.82%

    Approval Rates

    Total approvals of all applications
    98.48%

    Lincolnway 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
    88.07%

    Lincolnway Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 109 $25,845,000 $237,110

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $6,170,000 $514,167
    Single Family (1-4 Units):Site-Built 97 $19,675,000 $202,835

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $2,395,000 $159,667 $0 6.80%
    40-60% 68 $16,330,000 $240,147 $0 6.87%
    60-80% 25 $6,805,000 $272,200 $0 6.64%
    Under 20% 1 $315,000 $315,000 $0 20.00%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    LincolnWay Community Bank 1000 East Lincoln Highway New Lenox, IL 60451 Full Service B&M $140,425
    LincolnWay Community Bank 1621 North Ashland Avenue Chicago, IL 60622 Full Service B&M $13,190
    LincolnWay Community Bank 19102 South 88th Avenue Mokena, IL 60448 Full Service B&M $24,109

    For 2018, Lincolnway Community Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,053
    Net interest income $9,101
    Total noninterest income $1,117
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $28
    Trading account gains and fees $0
    Additional Noninterest Income $1,089
    Pre-tax net operating income $3,299
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,434
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,434
    Minority interest net income $0
    Net income $2,434
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,434

    Lincolnway Community Bank's gross interest income from loans was $11,053,000.
    Lincolnway Community Bank's net interest income from loans was $9,101,000.
    Lincolnway Community Bank's fee based income from loans was $28,000.
    Lincolnway Community Bank's net income from loans was $2,434,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,952
    Provision for credit losses $18
    Total noninterest expense $6,901
    Salaries and employee benefits $4,420
    Premises and equipment expense $726
    Additional noninterest expense $1,755
    Applicable income taxes $865
    Net charge-offs $-6
    Cash dividends $0

    Lincolnway Community Bank's interest expense for loans was $1,952,000.
    Lincolnway Community Bank's payroll and benefits expense were $4,420,000.
    Lincolnway Community Bank's property, plant and equipment expenses $726,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 2.0%
    Nonfarm, nonresidential loans 6.0%
    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 $182,997
    Deposits held in domestic offices $182,997
    Deposits by Individuals, partnerships, and corporations $172,982
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2,390
    Deposits by Commercial banks and other depository institutions in U.S. $7,625
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $41,077
    Demand deposits $37,943
    Nontransaction accounts $141,920
    Money market deposit accounts (MMDAs) $27,079
    Other savings deposits (excluding MMDAs) $21,317
    Total time deposits $93,524
    Total time and savings deposits $145,054
    Noninterest-bearing deposits $37,943
    Interest-bearing deposits $145,054
    Retail deposits $170,307
    IRAs and Keogh plan accounts $6,427
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $209,763
    Cash & Balances due from depository institutions $40,907
    Interest-bearing balances $39,852
    Total securities $7,838
    Federal funds sold & reverse repurchase $0
    Net loans and leases $150,556
    Loan and leases loss allowance $2,128
    Trading account assets $0
    Bank premises and fixed assets $4,974
    Other real estate owned $1,191
    Goodwill and other intangibles $0
    All other assets $4,297

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $209,763
    Total Liabilities $184,779
    Total deposits $182,997
    Interest-bearing deposits $145,054
    Deposits held in domestic offices $182,997
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,782

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $150,556
    Loan and leases loss allowance $2,128
    Total loans and leases (domestic) $152,684
    All real estate loans $139,691
    Real estate loans in domestic offices $139,691
    Construction and development loans $45,575
    Residential 1-4 family construction $21,658
    Other construction, all land development and other land $23,917
    Loans secured by nonfarm nonresidential properties $34,694
    Nonfarm nonresidential secured by owner-occupied properties $10,822
    Commercial real estate & other non-farm, non-residential $23,872
    Multifamily residential real estate $18,249
    1-4 family residential loans $37,056
    Farmland loans $4,117
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $12,805
    To non-U.S. addressees $0
    Loans to individuals $7
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $7
    All other loans & leases $750
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $750
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $393
    Non 1-4 family restructured loans & leases $267
    Total loans and leases (foreign) $0

    LincolnWay Community Bank had $150,556,000 of loans outstanding in 2018. $139,691,000 of loans were in real estate loans. $45,575,000 of loans were in development loans. $18,249,000 of loans were in multifamily mortgage loans. $37,056,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 44 $14,342 $325,955
    Nonfarm, nonresidential loans - <$100k 5 $253 $50,600
    Nonfarm, nonresidential loans - $100-250k 13 $1,718 $132,154
    Nonfarm, nonresidential loans - $250k-1MM 26 $12,371 $475,808
    Commercial & Industrial, US addressed loans - <$1MM 131 $12,136 $92,641
    Commercial & Industrial, US addressed loans - <$100k 96 $3,521 $36,677
    Commercial & Industrial, US addressed loans - $100-250k 19 $2,106 $110,842
    Commercial & Industrial, US addressed loans - $250k-1MM 16 $6,509 $406,813
    Farmland loans - <$1MM 2 $492 $246,000
    Farmland loans - $100-250k 2 $492 $246,000