Lincolnway Community Bank Mortgage Rates, Fees & Info

New Lenox, IL

LEI: 549300QLL0WGOPA6R131

Tax ID: 20-2895970

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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

    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, Kankakee, and Plymouth 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.

    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

    100

    Origination Dollar Volume (All Markets)

    $29,560,000

    Employee count

    34

    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) 97 $28,965,000 $298,608 $0 6.66%
    KANKAKEE, IL (FHA|USDA|VA) 2 $380,000 $190,000 $0 6.38%
    Plymouth, IN (FHA|USDA|VA) 1 $215,000 $215,000 $0 6.00%
    Lincolnway Community Bank's top markets include Chicago, Kankakee, and Plymouth among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 100 $29,560,000 $295,600 $0 6.64%

    For 2019, Lincolnway Community Bank's most frequently originated type of loan was Conventional, with 100 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 61 $14,825,000 $243,033 $0 6.79%
    Refi 22 $9,370,000 $425,909 $0 6.30%
    Home Improvement 16 $5,150,000 $321,875 $0 6.61%
    Cash Out Refi 1 $215,000 $215,000 $0 6.00%

    For 2019, Lincolnway Community Bank's most frequently cited loan purpose was Home Purchase, with 61 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 69 $17,015,000 $246,594 $0 6.93%
    5 Year 16 $6,720,000 $420,000 $0 5.78%
    Other 9 $4,495,000 $499,444 $0 6.67%
    3 Year 4 $510,000 $127,500 $0 5.66%
    10 Year 2 $820,000 $410,000 $0 5.50%

    For 2019, Lincolnway Community Bank's most frequently cited loan duration was 1 Year, with 69 originations. The 2nd most popular length was 5 Year, with 16 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 46 $12,870,000 $279,783
    7-8% 28 $4,400,000 $157,143
    5-6% 22 $9,850,000 $447,727
    4-5% 4 $2,440,000 $610,000

    During 2019, Lincolnway Community Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 6-7%, with 46 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 31 $4,255,000 $137,258 $0 7.00%
    $100,000 or less 25 $1,755,000 $70,200 $0 6.84%
    $200k-400k 21 $6,005,000 $285,952 $0 6.45%
    $400k-600k 11 $5,225,000 $475,000 $0 6.23%
    $600k-1MM 7 $5,515,000 $787,857 $0 5.86%
    $1MM+ 5 $6,805,000 $1,361,000 $0 6.30%

    2019 saw Lincolnway Community Bank place emphasis on $100k-200k loans with 31 originations, totaling $4,255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 5 $885,000 $177,000 $0 6.90%
    $50k-75k 4 $1,520,000 $380,000 $0 6.81%
    $75k-100k 4 $650,000 $162,500 $0 6.75%
    $100k-150k 2 $520,000 $260,000 $0 6.50%
    $250k+ 1 $125,000 $125,000 $0 7.25%

    Lincolnway Community Bank lent most frequently to those with incomes in the $50k or less range, with 5 originations. The second most popular income band? $50k-75k, with 4 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    >60% 5 $1,235,000 $247,000 $0 6.95%
    <20% 3 $1,095,000 $365,000 $0 6.75%
    20-30% 3 $795,000 $265,000 $0 6.83%
    36% 2 $180,000 $90,000 $0 6.25%
    50-60% 2 $250,000 $125,000 $0 5.75%
    30-36% 1 $65,000 $65,000 $0 7.50%
    49% 1 $295,000 $295,000 $0 7.50%

    Lincolnway Community Bank lent most frequently to those with DTI ratios of >60%, with 5 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 83 $25,415,000 $306,205 $0 6.62%
    White 13 $3,615,000 $278,077 $0 6.81%
    Asian 2 $350,000 $175,000 $0 7.00%
    Black 2 $180,000 $90,000 $0 6.25%

    Approval Rates

    Total approvals of all applications
    96.27%

    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
    80.00%

    Lincolnway Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 100 $29,560,000 $295,600

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 15 $9,605,000 $640,333
    Single Family (1-4 Units):Site-Built 85 $19,955,000 $234,765

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $2,065,000 $295,000 $0 6.81%
    40-60% 39 $7,715,000 $197,821 $0 6.79%
    60-80% 52 $19,250,000 $370,192 $0 6.53%
    80-100% 1 $45,000 $45,000 $0 5.15%
    Under 20% 1 $485,000 $485,000 $0 7.00%

    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 $147,421
    LincolnWay Community Bank 1621 North Ashland Avenue Chicago, IL 60622 Full Service B&M $14,353
    LincolnWay Community Bank 19102 South 88th Avenue Mokena, IL 60448 Full Service B&M $26,046

    For 2019, Lincolnway Community Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,314
    Net interest income $9,515
    Total noninterest income $1,208
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $37
    Trading account gains and fees $0
    Additional Noninterest Income $1,171
    Pre-tax net operating income $3,456
    Securities gains (or losses, -) $3
    Income before extraordinary items $2,509
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,509
    Minority interest net income $0
    Net income $2,509
    Sale, conversion, retirement of capital stock, net $4
    Net operating income $2,506

    Lincolnway Community Bank's gross interest income from loans was $12,314,000.
    Lincolnway Community Bank's net interest income from loans was $9,515,000.
    Lincolnway Community Bank's fee based income from loans was $37,000.
    Lincolnway Community Bank's net income from loans was $2,509,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,799
    Provision for credit losses $100
    Total noninterest expense $7,167
    Salaries and employee benefits $4,586
    Premises and equipment expense $756
    Additional noninterest expense $1,825
    Applicable income taxes $950
    Net charge-offs $-7
    Cash dividends $800

    Lincolnway Community Bank's interest expense for loans was $2,799,000.
    Lincolnway Community Bank's payroll and benefits expense were $4,586,000.
    Lincolnway Community Bank's property, plant and equipment expenses $756,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 3.0%
    Real Estate loans 3.0%
    Construction & Land Development loans 2.0%
    Nonfarm, nonresidential loans 5.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 5.0%
    HELOC loans 0.0%
    All other family 7.0%
    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 $202,898
    Deposits held in domestic offices $202,898
    Deposits by Individuals, partnerships, and corporations $190,328
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $7,633
    Deposits by Commercial banks and other depository institutions in U.S. $4,937
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $47,272
    Demand deposits $44,050
    Nontransaction accounts $155,626
    Money market deposit accounts (MMDAs) $32,959
    Other savings deposits (excluding MMDAs) $20,862
    Total time deposits $101,805
    Total time and savings deposits $158,848
    Noninterest-bearing deposits $44,050
    Interest-bearing deposits $158,848
    Retail deposits $187,413
    IRAs and Keogh plan accounts $6,486
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $236,685
    Cash & Balances due from depository institutions $38,187
    Interest-bearing balances $37,080
    Total securities $4,565
    Federal funds sold & reverse repurchase $0
    Net loans and leases $184,796
    Loan and leases loss allowance $2,235
    Trading account assets $0
    Bank premises and fixed assets $4,695
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $4,442

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $236,685
    Total Liabilities $209,906
    Total deposits $202,898
    Interest-bearing deposits $158,848
    Deposits held in domestic offices $202,898
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $2,008

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $184,796
    Loan and leases loss allowance $2,235
    Total loans and leases (domestic) $187,031
    All real estate loans $163,917
    Real estate loans in domestic offices $163,917
    Construction and development loans $58,476
    Residential 1-4 family construction $23,429
    Other construction, all land development and other land $35,047
    Loans secured by nonfarm nonresidential properties $41,974
    Nonfarm nonresidential secured by owner-occupied properties $15,489
    Commercial real estate & other non-farm, non-residential $26,485
    Multifamily residential real estate $16,660
    1-4 family residential loans $43,989
    Farmland loans $2,818
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $23,158
    To non-U.S. addressees $0
    Loans to individuals $40
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $40
    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 $301
    Non 1-4 family restructured loans & leases $234
    Total loans and leases (foreign) $0

    LincolnWay Community Bank had $184,796,000 of loans outstanding in 2019. $163,917,000 of loans were in real estate loans. $58,476,000 of loans were in development loans. $16,660,000 of loans were in multifamily mortgage loans. $43,989,000 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 47 $14,634 $311,362
    Nonfarm, nonresidential loans - <$100k 4 $166 $41,500
    Nonfarm, nonresidential loans - $100-250k 16 $2,072 $129,500
    Nonfarm, nonresidential loans - $250k-1MM 27 $12,396 $459,111
    Commercial & Industrial, US addressed loans - <$1MM 124 $16,874 $136,081
    Commercial & Industrial, US addressed loans - <$100k 66 $3,194 $48,394
    Commercial & Industrial, US addressed loans - $100-250k 36 $5,465 $151,806
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $8,215 $373,409
    Farmland loans - <$1MM 2 $455 $227,500
    Farmland loans - $250k-1MM 2 $455 $227,500