Vermilion Valley Bank Mortgage Rates, Fees & Info
Piper City, ILLEI: 549300U8Y61UKDC5ZF50
Tax ID: 37-0532910
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Mortgage Data
Bank Data
Review & Overview
Vermilion Valley Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Vermilion Valley Bank has a high proportion of conventional loans.Vermilion Valley Bank 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
30Origination Dollar Volume (All Markets)
$1,690,000Employee count
19Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Outside of Metro Areas | 30 | $1,690,000 | $56,333 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 30 | $1,690,000 | $56,333 | $0 | 0.00% |
For 2020, Vermilion Valley Bank's most frequently originated type of loan was Conventional, with 30 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Cash Out Refi | 18 | $960,000 | $53,333 | $0 | 0.00% |
| Home Purchase | 12 | $730,000 | $60,833 | $0 | 0.00% |
For 2020, Vermilion Valley Bank's most frequently cited loan purpose was Cash Out Refi, with 18 originations. The 2nd most popular reason was Home Purchase, with 12 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 30 | $1,690,000 | $56,333 | $0 | 0.00% |
For 2020, Vermilion Valley Bank's most frequently cited loan duration was Other, with 30 originations.
Loan Sizing
2020 saw Vermilion Valley Bank place emphasis on $100,000 or less loans with 27 originations, totaling $1,225,000 in origination value.
Applicant Income
Vermilion Valley Bank lent most frequently to those with incomes in the $50k or less range, with 16 originations. The second most popular income band? $50k-75k, with 8 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 29 | $1,635,000 | $56,379 | $0 | 0.00% |
| Not provided | 1 | $55,000 | $55,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications96.97%
Vermilion Valley 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 origination93.33%
Vermilion Valley Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 30 | $1,690,000 | $56,333 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $75,000 | $75,000 |
| Single Family (1-4 Units):Site-Built | 29 | $1,615,000 | $55,690 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Vermilion Valley Bank | 111 West Hack Street Cullom, IL 60929 | Full Service B&M | $22,161 |
| Vermilion Valley Bank | 4 East Peoria Piper City, IL 60959 | Full Service B&M | $44,150 |
| Vermilion Valley Bank | 509 S 4th St Chatsworth, IL 60921 | Full Service B&M | $8,706 |
| Vermilion Valley Bank | Green Street Roberts, IL 60962 | Full Service B&M | $33,905 |
| Vermilion Valley Bank | Main & Railroad St Kempton, IL 60946 | Full Service B&M | $7,547 |
For 2020, Vermilion Valley Bank had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $5,313 |
| Net interest income | $4,445 |
| Total noninterest income | $182 |
| Gross Fiduciary activities income | $46 |
| Service charges on deposit accounts | $90 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $46 |
| Pre-tax net operating income | $2,610 |
| Securities gains (or losses, -) | $-131 |
| Income before extraordinary items | $2,436 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,436 |
| Minority interest net income | $0 |
| Net income | $2,436 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,564 |
Vermilion Valley Bank's gross interest income from loans was $5,313,000.
Vermilion Valley Bank's net interest income from loans was $4,445,000.
Vermilion Valley Bank's fee based income from loans was $90,000.
Vermilion Valley Bank's net income from loans was $2,436,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $868 |
| Provision for credit losses | $30 |
| Total noninterest expense | $1,987 |
| Salaries and employee benefits | $1,214 |
| Premises and equipment expense | $163 |
| Additional noninterest expense | $610 |
| Applicable income taxes | $43 |
| Net charge-offs | $37 |
| Cash dividends | $1,070 |
Vermilion Valley Bank's interest expense for loans was $868,000.
Vermilion Valley Bank's payroll and benefits expense were $1,214,000.
Vermilion Valley Bank's property, plant and equipment expenses $163,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 2.0% |
| 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 | $122,403 |
| Deposits held in domestic offices | $122,403 |
| Deposits by Individuals, partnerships, and corporations | $97,638 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $19,968 |
| Deposits by Commercial banks and other depository institutions in U.S. | $4,797 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $50,506 |
| Demand deposits | $24,629 |
| Nontransaction accounts | $71,897 |
| Money market deposit accounts (MMDAs) | $20,048 |
| Other savings deposits (excluding MMDAs) | $14,417 |
| Total time deposits | $37,432 |
| Total time and savings deposits | $97,774 |
| Noninterest-bearing deposits | $24,629 |
| Interest-bearing deposits | $97,774 |
| Retail deposits | $116,391 |
| IRAs and Keogh plan accounts | $6,272 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $147,296 |
| Cash & Balances due from depository institutions | $11,939 |
| Interest-bearing balances | $11,145 |
| Total securities | $34,769 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $96,984 |
| Loan and leases loss allowance | $1,176 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $840 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $819 |
| All other assets | $1,945 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $147,297 |
| Total Liabilities | $122,712 |
| Total deposits | $122,403 |
| Interest-bearing deposits | $97,774 |
| Deposits held in domestic offices | $122,403 |
| % insured (estimated) | $84 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $309 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $96,984 |
| Loan and leases loss allowance | $1,176 |
| Total loans and leases (domestic) | $98,160 |
| All real estate loans | $63,593 |
| Real estate loans in domestic offices | $63,593 |
| Construction and development loans | $0 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $0 |
| Loans secured by nonfarm nonresidential properties | $1,241 |
| Nonfarm nonresidential secured by owner-occupied properties | $1,177 |
| Commercial real estate & other non-farm, non-residential | $64 |
| Multifamily residential real estate | $419 |
| 1-4 family residential loans | $13,358 |
| Farmland loans | $48,575 |
| Loans held in foreign offices | $0 |
| Farm loans | $27,365 |
| Commercial and industrial loans | $5,011 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,428 |
| Credit card loans | $149 |
| Related Plans | $0 |
| Consumer Auto Loans | $1,034 |
| Other loans to individuals | $245 |
| All other loans & leases | $764 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $2 |
| 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 | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Vermilion Valley Bank had $96,984,000 of loans outstanding in 2020. $63,593,000 of loans were in real estate loans. $0 of loans were in development loans. $419,000 of loans were in multifamily mortgage loans. $13,358,000 of loans were in 1-4 family mortgage loans. $27,365,000 of loans were in farm loans. $149,000 of loans were in credit card loans. $1,034,000 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 | 19 | $1,240 | $65,263 |
| Nonfarm, nonresidential loans - <$100k | 15 | $364 | $24,267 |
| Nonfarm, nonresidential loans - $100-250k | 3 | $228 | $76,000 |
| Nonfarm, nonresidential loans - $250k-1MM | 1 | $648 | $648,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 106 | $3,751 | $35,387 |
| Commercial & Industrial, US addressed loans - <$100k | 91 | $1,692 | $18,593 |
| Commercial & Industrial, US addressed loans - $100-250k | 11 | $1,091 | $99,182 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 4 | $968 | $242,000 |
| Farmland loans - <$1MM | 79 | $14,190 | $179,620 |
| Farmland loans - <$100k | 16 | $729 | $45,563 |
| Farmland loans - $100-250k | 30 | $4,301 | $143,367 |
| Farmland loans - $250k-1MM | 33 | $9,160 | $277,576 |
| Agriculture operations loans - <$1MM | 134 | $9,538 | $71,179 |
| Agriculture operations loans - <$100k | 82 | $1,906 | $23,244 |
| Agriculture operations loans - $100-250k | 30 | $2,844 | $94,800 |
| Agriculture operations loans - $250k-1MM | 22 | $4,788 | $217,636 |