Lincolnway Community Bank Mortgage Rates, Fees & Info
New Lenox, ILLEI: 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, Cape Coral, and Rockford 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.
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Originations
108Origination Dollar Volume (All Markets)
$33,570,000Employee count
34Top 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) | 106 | $32,760,000 | $309,057 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 108 | $33,570,000 | $310,833 | $0 | 0.00% |
For 2021, Lincolnway Community Bank's most frequently originated type of loan was Conventional, with 108 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 83 | $24,805,000 | $298,855 | $0 | 0.00% |
| Refi | 22 | $8,090,000 | $367,727 | $0 | 0.00% |
| Home Improvement | 3 | $675,000 | $225,000 | $0 | 0.00% |
For 2021, Lincolnway Community Bank's most frequently cited loan purpose was Home Purchase, with 83 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 |
|---|---|---|---|---|---|
| Other | 108 | $33,570,000 | $310,833 | $0 | 0.00% |
For 2021, Lincolnway Community Bank's most frequently cited loan duration was Other, with 108 originations.
Loan Sizing
2021 saw Lincolnway Community Bank place emphasis on $100k-200k loans with 36 originations, totaling $5,430,000 in origination value.
Applicant Income
Lincolnway Community Bank lent most frequently to those with incomes in the $50k or less range, with 8 originations. The second most popular income band? $250k+, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 108 | $33,570,000 | $310,833 | $0 | 0.00% |
Lincolnway Community Bank lent most frequently to those with DTI ratios of Exempt%, with 108 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 93 | $30,325,000 | $326,075 | $0 | 0.00% |
| White | 15 | $3,245,000 | $216,333 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.43%
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 origination87.96%
Lincolnway Community Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 108 | $33,570,000 | $310,833 |
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 | $202,669 |
| Lincolnway Community Bank | 19102 South 88th Avenue Mokena, IL 60448 | Full Service B&M | $40,243 |
For 2021, Lincolnway Community Bank had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $13,331 |
| Net interest income | $12,370 |
| Total noninterest income | $1,227 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $45 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,182 |
| Pre-tax net operating income | $5,759 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,150 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,150 |
| Minority interest net income | $0 |
| Net income | $4,150 |
| Sale, conversion, retirement of capital stock, net | $52 |
| Net operating income | $4,150 |
Lincolnway Community Bank's gross interest income from loans was $13,331,000.
Lincolnway Community Bank's net interest income from loans was $12,370,000.
Lincolnway Community Bank's fee based income from loans was $45,000.
Lincolnway Community Bank's net income from loans was $4,150,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $961 |
| Provision for credit losses | $0 |
| Total noninterest expense | $7,838 |
| Salaries and employee benefits | $5,338 |
| Premises and equipment expense | $510 |
| Additional noninterest expense | $1,990 |
| Applicable income taxes | $1,609 |
| Net charge-offs | $0 |
| Cash dividends | $2,872 |
Lincolnway Community Bank's interest expense for loans was $961,000.
Lincolnway Community Bank's payroll and benefits expense were $5,338,000.
Lincolnway Community Bank's property, plant and equipment expenses $510,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 2.0% |
| Construction & Land Development loans | 1.0% |
| Nonfarm, nonresidential loans | 5.0% |
| 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 | $242,610 |
| Deposits held in domestic offices | $242,610 |
| Deposits by Individuals, partnerships, and corporations | $234,768 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $2,175 |
| Deposits by Commercial banks and other depository institutions in U.S. | $5,667 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $71,305 |
| Demand deposits | $67,915 |
| Nontransaction accounts | $171,305 |
| Money market deposit accounts (MMDAs) | $52,477 |
| Other savings deposits (excluding MMDAs) | $41,697 |
| Total time deposits | $77,131 |
| Total time and savings deposits | $174,695 |
| Noninterest-bearing deposits | $67,915 |
| Interest-bearing deposits | $174,695 |
| Retail deposits | $230,983 |
| IRAs and Keogh plan accounts | $6,501 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $276,839 |
| Cash & Balances due from depository institutions | $70,735 |
| Interest-bearing balances | $69,594 |
| Total securities | $2,027 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $194,312 |
| Loan and leases loss allowance | $2,403 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,505 |
| Other real estate owned | $107 |
| Goodwill and other intangibles | $0 |
| All other assets | $5,153 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $276,839 |
| Total Liabilities | $245,495 |
| Total deposits | $242,610 |
| Interest-bearing deposits | $174,695 |
| Deposits held in domestic offices | $242,610 |
| % insured (estimated) | $80 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $2,885 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $194,312 |
| Loan and leases loss allowance | $2,403 |
| Total loans and leases (domestic) | $196,715 |
| All real estate loans | $171,056 |
| Real estate loans in domestic offices | $171,056 |
| Construction and development loans | $65,072 |
| Residential 1-4 family construction | $19,118 |
| Other construction, all land development and other land | $45,954 |
| Loans secured by nonfarm nonresidential properties | $39,292 |
| Nonfarm nonresidential secured by owner-occupied properties | $12,444 |
| Commercial real estate & other non-farm, non-residential | $26,848 |
| Multifamily residential real estate | $25,995 |
| 1-4 family residential loans | $38,400 |
| Farmland loans | $2,297 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $25,898 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $6 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $6 |
| 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 | $114 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
LincolnWay Community Bank had $194,312,000 of loans outstanding in 2021. $171,056,000 of loans were in real estate loans. $65,072,000 of loans were in development loans. $25,995,000 of loans were in multifamily mortgage loans. $38,400,000 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 | $14,239 | $284,780 |
| Nonfarm, nonresidential loans - <$100k | 4 | $165 | $41,250 |
| Nonfarm, nonresidential loans - $100-250k | 18 | $2,452 | $136,222 |
| Nonfarm, nonresidential loans - $250k-1MM | 28 | $11,622 | $415,071 |
| Commercial & Industrial, US addressed loans - <$1MM | 223 | $21,686 | $97,247 |
| Commercial & Industrial, US addressed loans - <$100k | 143 | $7,091 | $49,587 |
| Commercial & Industrial, US addressed loans - $100-250k | 55 | $7,448 | $135,418 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 25 | $7,147 | $285,880 |
| Farmland loans - <$1MM | 1 | $249 | $249,000 |
| Farmland loans - $250k-1MM | 1 | $249 | $249,000 |