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 (well, only) market is Chicago.

    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.

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    Originations

    147

    Origination Dollar Volume (All Markets)

    $36,665,000

    Employee count

    36

    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) 147 $36,665,000 $249,422 $0 6.39%
    Lincolnway Community Bank's top markets include and Chicago among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 147 $36,665,000 $249,422 $0 6.39%

    For 2020, Lincolnway Community Bank's most frequently originated type of loan was Conventional, with 147 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 93 $21,665,000 $232,957 $0 6.75%
    Refi 43 $13,845,000 $321,977 $0 5.60%
    Home Improvement 11 $1,155,000 $105,000 $0 6.48%

    For 2020, Lincolnway Community Bank's most frequently cited loan purpose was Home Purchase, with 93 originations. The 2nd most popular reason was Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 95 $20,185,000 $212,474 $0 6.84%
    5 Year 33 $10,325,000 $312,879 $0 5.40%
    Other 11 $3,345,000 $304,091 $0 6.50%
    10 Year 5 $1,925,000 $385,000 $0 5.08%
    3 Year 3 $885,000 $295,000 $0 5.00%

    For 2020, Lincolnway Community Bank's most frequently cited loan duration was 1 Year, with 95 originations. The 2nd most popular length was 5 Year, with 33 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 59 $11,875,000 $201,271
    5-6% 43 $13,695,000 $318,488
    7-8% 33 $5,205,000 $157,727
    4-5% 12 $5,890,000 $490,833

    During 2020, 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 59 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 61 $9,145,000 $149,918 $0 6.65%
    $100,000 or less 33 $2,175,000 $65,909 $0 6.49%
    $200k-400k 28 $7,690,000 $274,643 $0 6.35%
    $400k-600k 16 $7,890,000 $493,125 $0 5.52%
    $600k-1MM 7 $5,935,000 $847,857 $0 6.21%
    $1MM+ 2 $3,830,000 $1,915,000 $0 5.25%

    2020 saw Lincolnway Community Bank place emphasis on $100k-200k loans with 61 originations, totaling $9,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 7 $2,345,000 $335,000 $0 6.39%
    $150k-250k 7 $1,035,000 $147,857 $0 5.64%
    $75k-100k 6 $770,000 $128,333 $0 6.50%
    $50k-75k 2 $330,000 $165,000 $0 6.63%
    $50k or less 2 $780,000 $390,000 $0 7.13%
    $250k+ 1 $245,000 $245,000 $0 7.00%

    Lincolnway Community Bank lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $150k-250k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 8 $1,670,000 $208,750 $0 6.41%
    >60% 5 $865,000 $173,000 $0 5.80%
    20-30% 4 $2,100,000 $525,000 $0 5.81%
    36% 3 $305,000 $101,667 $0 6.42%
    <20% 3 $895,000 $298,333 $0 6.08%
    44% 1 $75,000 $75,000 $0 7.25%
    40% 1 $55,000 $55,000 $0 7.25%

    Lincolnway Community Bank lent most frequently to those with DTI ratios of 30-36%, with 8 originations. The next most common DTI ratio? >60%, with 5 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 117 $29,715,000 $253,974 $0 6.44%
    White 24 $4,630,000 $192,917 $0 6.35%
    Asian 2 $1,260,000 $630,000 $0 5.75%
    Asian Indian 1 $555,000 $555,000 $0 5.25%
    Black 3 $505,000 $168,333 $0 5.83%

    Approval Rates

    Total approvals of all applications
    99.45%

    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
    82.99%

    Lincolnway Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 147 $36,665,000 $249,422

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 23 $13,325,000 $579,348
    Single Family (1-4 Units):Site-Built 124 $23,340,000 $188,226

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 15 $2,705,000 $180,333 $0 6.40%
    40-60% 56 $11,340,000 $202,500 $0 6.59%
    60-80% 69 $20,885,000 $302,681 $0 6.31%
    Under 20% 7 $1,735,000 $247,857 $0 5.64%

    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 $191,034
    Lincolnway Community Bank 19102 South 88th Avenue Mokena, IL 60448 Full Service B&M $41,929

    For 2020, Lincolnway Community Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,428
    Net interest income $11,223
    Total noninterest income $1,413
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $33
    Trading account gains and fees $0
    Additional Noninterest Income $1,380
    Pre-tax net operating income $4,713
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,405
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,405
    Minority interest net income $0
    Net income $3,405
    Sale, conversion, retirement of capital stock, net $52
    Net operating income $3,405

    Lincolnway Community Bank's gross interest income from loans was $13,428,000.
    Lincolnway Community Bank's net interest income from loans was $11,223,000.
    Lincolnway Community Bank's fee based income from loans was $33,000.
    Lincolnway Community Bank's net income from loans was $3,405,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,205
    Provision for credit losses $191
    Total noninterest expense $7,732
    Salaries and employee benefits $5,112
    Premises and equipment expense $502
    Additional noninterest expense $2,118
    Applicable income taxes $1,308
    Net charge-offs $23
    Cash dividends $200

    Lincolnway Community Bank's interest expense for loans was $2,205,000.
    Lincolnway Community Bank's payroll and benefits expense were $5,112,000.
    Lincolnway Community Bank's property, plant and equipment expenses $502,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 3.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 4.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 4.0%
    HELOC loans 0.0%
    All other family 6.0%
    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 $219,829
    Deposits held in domestic offices $219,829
    Deposits by Individuals, partnerships, and corporations $215,384
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2,474
    Deposits by Commercial banks and other depository institutions in U.S. $1,971
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $57,971
    Demand deposits $54,861
    Nontransaction accounts $161,858
    Money market deposit accounts (MMDAs) $43,828
    Other savings deposits (excluding MMDAs) $29,618
    Total time deposits $88,412
    Total time and savings deposits $164,968
    Noninterest-bearing deposits $54,861
    Interest-bearing deposits $164,968
    Retail deposits $208,556
    IRAs and Keogh plan accounts $6,682
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $252,346
    Cash & Balances due from depository institutions $40,567
    Interest-bearing balances $39,363
    Total securities $3,597
    Federal funds sold & reverse repurchase $0
    Net loans and leases $198,804
    Loan and leases loss allowance $2,403
    Trading account assets $0
    Bank premises and fixed assets $4,639
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $4,739

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $252,346
    Total Liabilities $222,285
    Total deposits $219,829
    Interest-bearing deposits $164,968
    Deposits held in domestic offices $219,829
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,456

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $198,804
    Loan and leases loss allowance $2,403
    Total loans and leases (domestic) $201,207
    All real estate loans $169,195
    Real estate loans in domestic offices $169,195
    Construction and development loans $59,371
    Residential 1-4 family construction $12,638
    Other construction, all land development and other land $46,733
    Loans secured by nonfarm nonresidential properties $44,644
    Nonfarm nonresidential secured by owner-occupied properties $15,562
    Commercial real estate & other non-farm, non-residential $29,082
    Multifamily residential real estate $20,951
    1-4 family residential loans $43,980
    Farmland loans $249
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $32,333
    To non-U.S. addressees $0
    Loans to individuals $39
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $39
    All other loans & leases $762
    Loans to foreign governments and official institutions $0
    Other loans $12
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    LincolnWay Community Bank had $198,804,000 of loans outstanding in 2020. $169,195,000 of loans were in real estate loans. $59,371,000 of loans were in development loans. $20,951,000 of loans were in multifamily mortgage loans. $43,980,000 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 50 $12,684 $253,680
    Nonfarm, nonresidential loans - <$100k 4 $141 $35,250
    Nonfarm, nonresidential loans - $100-250k 19 $2,631 $138,474
    Nonfarm, nonresidential loans - $250k-1MM 27 $9,912 $367,111
    Commercial & Industrial, US addressed loans - <$1MM 253 $27,175 $107,411
    Commercial & Industrial, US addressed loans - <$100k 163 $6,831 $41,908
    Commercial & Industrial, US addressed loans - $100-250k 58 $7,955 $137,155
    Commercial & Industrial, US addressed loans - $250k-1MM 32 $12,389 $387,156
    Farmland loans - <$1MM 1 $249 $249,000
    Farmland loans - $250k-1MM 1 $249 $249,000