First Trust Bank Of Illinois Mortgage Rates, Fees & Info

Kankakee, IL

LEI: 549300T3MSPBPSPZLR85

Tax ID: 36-4203015

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Mortgage Data

Bank Data

Review & Overview

First Trust Bank Of Illinois is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. First Trust Bank Of Illinois has a high proportion of conventional loans. Their top markets by origination volume include: Kankakee, Chicago, Naples, St. Louis, and Davenport among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Trust Bank Of Illinois has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

163

Origination Dollar Volume (All Markets)

$23,565,000

Employee count

47

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
KANKAKEE, IL (FHA|USDA|VA) 136 $18,670,000 $137,279 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 7 $2,405,000 $343,571 $0 0.00%
Outside of Metro Areas 16 $2,050,000 $128,125 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
Ottawa, IL (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
First Trust Bank Of Illinois's top markets include Kankakee, Chicago, Naples, St. Louis, and Davenport among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 163 $23,565,000 $144,571 $0 0.00%

    For 2021, First Trust Bank Of Illinois's most frequently originated type of loan was Conventional, with 163 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 63 $11,555,000 $183,413 $0 0.00%
    Cash Out Refi 47 $6,395,000 $136,064 $0 0.00%
    Refi 44 $5,030,000 $114,318 $0 0.00%
    Other 7 $525,000 $75,000 $0 0.00%
    Home Improvement 2 $60,000 $30,000 $0 0.00%

    For 2021, First Trust Bank Of Illinois's most frequently cited loan purpose was Home Purchase, with 63 originations. The 2nd most popular reason was Cash Out Refi, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 163 $23,565,000 $144,571 $0 0.00%

    For 2021, First Trust Bank Of Illinois's most frequently cited loan duration was Other, with 163 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 72 $4,430,000 $61,528 $0 0.00%
    $100k-200k 62 $8,990,000 $145,000 $0 0.00%
    $200k-400k 25 $6,545,000 $261,800 $0 0.00%
    $600k-1MM 2 $1,530,000 $765,000 $0 0.00%
    $1MM+ 1 $1,655,000 $1,655,000 $0 0.00%
    $400k-600k 1 $415,000 $415,000 $0 0.00%

    2021 saw First Trust Bank Of Illinois place emphasis on $100,000 or less loans with 72 originations, totaling $4,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 38 $5,370,000 $141,316 $0 0.00%
    $50k or less 37 $3,155,000 $85,270 $0 0.00%
    $50k-75k 33 $3,455,000 $104,697 $0 0.00%
    $75k-100k 26 $3,270,000 $125,769 $0 0.00%
    $150k-250k 13 $2,185,000 $168,077 $0 0.00%
    $250k+ 10 $3,850,000 $385,000 $0 0.00%

    First Trust Bank Of Illinois lent most frequently to those with incomes in the $100k-150k range, with 38 originations. The second most popular income band? $50k or less, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 163 $23,565,000 $144,571 $0 0.00%

    First Trust Bank Of Illinois lent most frequently to those with DTI ratios of Exempt%, with 163 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 145 $18,495,000 $127,552 $0 0.00%
    Not applicable 5 $1,975,000 $395,000 $0 0.00%
    Asian 5 $1,535,000 $307,000 $0 0.00%
    Asian Indian 1 $705,000 $705,000 $0 0.00%
    Black 5 $495,000 $99,000 $0 0.00%
    American Indian 2 $360,000 $180,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.75%

    First Trust Bank Of Illinois has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.18%

    First Trust Bank Of Illinois has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 163 $23,565,000 $144,571

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    163 $23,565,000 $144,571

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST UNITED BANK AND TRUST COMPANY Conventional home mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Trust Bank of Illinois 1090 Main Street, N.W. Bourbonnais, IL 60914 Limited, Drive-thru $1,014
    First Trust Bank of Illinois 1500 West Court Street Kankakee, IL 60901 Full Service B&M $32,273
    First Trust Bank of Illinois 275 East Court Street Kankakee, IL 60901 Full Service B&M $130,349
    First Trust Bank of Illinois 3308 Waldron Road Aroma Park, IL 60910 Full Service B&M $27,797
    First Trust Bank of Illinois 720 North Convent Road Bourbonnais, IL 60914 Full Service B&M $60,248
    First Trust Bank of Illinois Front And Adams Streets Danforth, IL 60930 Full Service B&M $39,534

    For 2021, First Trust Bank Of Illinois had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,504
    Net interest income $8,762
    Total noninterest income $1,446
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $164
    Trading account gains and fees $0
    Additional Noninterest Income $1,282
    Pre-tax net operating income $4,304
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,484
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,484
    Minority interest net income $0
    Net income $3,484
    Sale, conversion, retirement of capital stock, net $659
    Net operating income $3,484

    First Trust Bank Of Illinois's gross interest income from loans was $9,504,000.
    First Trust Bank Of Illinois's net interest income from loans was $8,762,000.
    First Trust Bank Of Illinois's fee based income from loans was $164,000.
    First Trust Bank Of Illinois's net income from loans was $3,484,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $742
    Provision for credit losses $150
    Total noninterest expense $5,754
    Salaries and employee benefits $3,447
    Premises and equipment expense $600
    Additional noninterest expense $1,707
    Applicable income taxes $820
    Net charge-offs $1
    Cash dividends $1,534

    First Trust Bank Of Illinois's interest expense for loans was $742,000.
    First Trust Bank Of Illinois's payroll and benefits expense were $3,447,000.
    First Trust Bank Of Illinois's property, plant and equipment expenses $600,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 5.0%
    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 $305,111
    Deposits held in domestic offices $305,111
    Deposits by Individuals, partnerships, and corporations $280,049
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $25,062
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $136,430
    Demand deposits $63,441
    Nontransaction accounts $168,681
    Money market deposit accounts (MMDAs) $17,089
    Other savings deposits (excluding MMDAs) $81,166
    Total time deposits $70,426
    Total time and savings deposits $241,670
    Noninterest-bearing deposits $63,441
    Interest-bearing deposits $241,670
    Retail deposits $287,773
    IRAs and Keogh plan accounts $9,906
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $385,599
    Cash & Balances due from depository institutions $39,290
    Interest-bearing balances $23,888
    Total securities $189,502
    Federal funds sold & reverse repurchase $4,567
    Net loans and leases $137,276
    Loan and leases loss allowance $1,735
    Trading account assets $0
    Bank premises and fixed assets $4,580
    Other real estate owned $91
    Goodwill and other intangibles $3,562
    All other assets $6,731

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $385,599
    Total Liabilities $348,565
    Total deposits $305,111
    Interest-bearing deposits $241,670
    Deposits held in domestic offices $305,111
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $42,357
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,097

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $137,276
    Loan and leases loss allowance $1,735
    Total loans and leases (domestic) $139,011
    All real estate loans $95,796
    Real estate loans in domestic offices $95,796
    Construction and development loans $2,968
    Residential 1-4 family construction $2,968
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $46,945
    Nonfarm nonresidential secured by owner-occupied properties $18,389
    Commercial real estate & other non-farm, non-residential $28,556
    Multifamily residential real estate $6,269
    1-4 family residential loans $23,921
    Farmland loans $15,693
    Loans held in foreign offices $0
    Farm loans $6,613
    Commercial and industrial loans $34,323
    To non-U.S. addressees $0
    Loans to individuals $2,005
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $476
    Other loans to individuals $1,529
    All other loans & leases $274
    Loans to foreign governments and official institutions $0
    Other loans $11
    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 $314
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    First Trust Bank of Illinois had $137,276,000 of loans outstanding in 2021. $95,796,000 of loans were in real estate loans. $2,968,000 of loans were in development loans. $6,269,000 of loans were in multifamily mortgage loans. $23,921,000 of loans were in 1-4 family mortgage loans. $6,613,000 of loans were in farm loans. $0 of loans were in credit card loans. $476,000 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 58 $11,975 $206,466
    Nonfarm, nonresidential loans - <$100k 15 $463 $30,867
    Nonfarm, nonresidential loans - $100-250k 14 $1,428 $102,000
    Nonfarm, nonresidential loans - $250k-1MM 29 $10,084 $347,724
    Commercial & Industrial, US addressed loans - <$1MM 213 $24,459 $114,831
    Commercial & Industrial, US addressed loans - <$100k 119 $2,696 $22,655
    Commercial & Industrial, US addressed loans - $100-250k 37 $3,120 $84,324
    Commercial & Industrial, US addressed loans - $250k-1MM 57 $18,643 $327,070
    Farmland loans - <$1MM 27 $4,312 $159,704
    Farmland loans - <$100k 6 $278 $46,333
    Farmland loans - $100-250k 12 $1,398 $116,500
    Farmland loans - $250k-1MM 9 $2,636 $292,889
    Agriculture operations loans - <$1MM 41 $4,057 $98,951
    Agriculture operations loans - <$100k 20 $631 $31,550
    Agriculture operations loans - $100-250k 11 $950 $86,364
    Agriculture operations loans - $250k-1MM 10 $2,476 $247,600