Scott State Bank Mortgage Rates, Fees & Info

Bethany, IL

LEI: 549300VJ2DUIQKBO9U08

Tax ID: 37-0507990

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Scott State Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Scott State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Decatur, Charleston, Springfield, Champaign, and Taylorville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Scott State 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.

    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

    106

    Origination Dollar Volume (All Markets)

    $8,410,000

    Employee count

    48

    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
    Outside of Metro Areas 56 $4,160,000 $74,286 $0 0.00%
    DECATUR, IL (FHA|USDA|VA) 32 $2,570,000 $80,313 $0 0.00%
    Charleston-Mattoon, IL (FHA|USDA|VA) 9 $695,000 $77,222 $0 0.00%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 3 $205,000 $68,333 $0 0.00%
    Taylorville, IL (FHA|USDA|VA) 2 $190,000 $95,000 $0 0.00%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    DANVILLE, IL (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    Effingham, IL (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Scott State Bank's top markets include Decatur, Charleston, Springfield, Champaign, and Taylorville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 106 $8,410,000 $79,340 $0 0.00%

    For 2019, Scott State Bank's most frequently originated type of loan was Conventional, with 106 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 50 $4,200,000 $84,000 $0 0.00%
    Cash Out Refi 26 $2,340,000 $90,000 $0 0.00%
    Home Improvement 14 $650,000 $46,429 $0 0.00%
    Refi 12 $1,130,000 $94,167 $0 0.00%
    Other 4 $90,000 $22,500 $0 0.00%

    For 2019, Scott State Bank's most frequently cited loan purpose was Home Purchase, with 50 originations. The 2nd most popular reason was Cash Out Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 106 $8,410,000 $79,340 $0 0.00%

    For 2019, Scott State Bank's most frequently cited loan duration was Other, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 78 $3,860,000 $49,487 $0 0.00%
    $100k-200k 20 $2,610,000 $130,500 $0 0.00%
    $200k-400k 8 $1,940,000 $242,500 $0 0.00%

    2019 saw Scott State Bank place emphasis on $100,000 or less loans with 78 originations, totaling $3,860,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 28 $2,410,000 $86,071 $0 0.00%
    $50k or less 27 $1,525,000 $56,481 $0 0.00%
    $75k-100k 27 $2,125,000 $78,704 $0 0.00%
    $100k-150k 16 $1,390,000 $86,875 $0 0.00%
    $150k-250k 6 $600,000 $100,000 $0 0.00%
    $250k+ 1 $195,000 $195,000 $0 0.00%

    Scott State Bank lent most frequently to those with incomes in the $50k-75k range, with 28 originations. The second most popular income band? $50k or less, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 106 $8,410,000 $79,340 $0 0.00%

    Scott State Bank lent most frequently to those with DTI ratios of Exempt%, with 106 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 104 $8,140,000 $78,269 $0 0.00%
    Not applicable 1 $165,000 $165,000 $0 0.00%
    American Indian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.68%

    Scott State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    99.06%

    Scott State Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 106 $8,410,000 $79,340

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $195,000 $195,000
    Single Family (1-4 Units):Manufactured 2 $100,000 $50,000
    Single Family (1-4 Units):Site-Built 103 $8,115,000 $78,786

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH Conventional home mortgage Trouble during payment process 1 25.0%
    SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH Home equity loan or line of credit (HELOC) Trouble during payment process 1 25.0%
    SOUTHSTATE BANK, N.A. - 520 GERVAIS STREET BRANCH Other type of mortgage Struggling to pay mortgage 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Scott State Bank 1120 Route 121 Mount Zion, IL 62549 Full Service B&M $6,905
    Scott State Bank 100 East Main Street Dalton City, IL 61925 Full Service B&M $7,905
    Scott State Bank 101 East Main Street Maroa, IL 61756 Full Service B&M $18,544
    Scott State Bank 101 West Main Street Bethany, IL 61914 Full Service B&M $43,780
    Scott State Bank 200 East Lewis Street Niantic, IL 62551 Full Service B&M $30,177
    Scott State Bank 310 W. Jackson Sullivan, IL 61951 Full Service B&M $24,061
    Scott State Bank 3950 West Fountain Lane Decatur, IL 62522 Full Service B&M $8,863

    For 2019, Scott State Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $5,829
    Net interest income $5,221
    Total noninterest income $1,091
    Gross Fiduciary activities income $137
    Service charges on deposit accounts $250
    Trading account gains and fees $0
    Additional Noninterest Income $704
    Pre-tax net operating income $1,704
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,682
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,682
    Minority interest net income $0
    Net income $1,682
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,682

    Scott State Bank's gross interest income from loans was $5,829,000.
    Scott State Bank's net interest income from loans was $5,221,000.
    Scott State Bank's fee based income from loans was $250,000.
    Scott State Bank's net income from loans was $1,682,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $608
    Provision for credit losses $0
    Total noninterest expense $4,608
    Salaries and employee benefits $2,679
    Premises and equipment expense $655
    Additional noninterest expense $1,274
    Applicable income taxes $22
    Net charge-offs $-54
    Cash dividends $1,000

    Scott State Bank's interest expense for loans was $608,000.
    Scott State Bank's payroll and benefits expense were $2,679,000.
    Scott State Bank's property, plant and equipment expenses $655,000.

    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 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 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 $147,208
    Deposits held in domestic offices $147,208
    Deposits by Individuals, partnerships, and corporations $118,535
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $28,673
    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 $65,859
    Demand deposits $27,717
    Nontransaction accounts $81,349
    Money market deposit accounts (MMDAs) $25,808
    Other savings deposits (excluding MMDAs) $27,655
    Total time deposits $27,886
    Total time and savings deposits $119,491
    Noninterest-bearing deposits $27,717
    Interest-bearing deposits $119,491
    Retail deposits $143,835
    IRAs and Keogh plan accounts $4,546
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $172,727
    Cash & Balances due from depository institutions $29,686
    Interest-bearing balances $23,731
    Total securities $52,666
    Federal funds sold & reverse repurchase $519
    Net loans and leases $81,491
    Loan and leases loss allowance $901
    Trading account assets $0
    Bank premises and fixed assets $3,088
    Other real estate owned $0
    Goodwill and other intangibles $112
    All other assets $5,165

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $172,727
    Total Liabilities $147,570
    Total deposits $147,208
    Interest-bearing deposits $119,491
    Deposits held in domestic offices $147,208
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $362

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $81,491
    Loan and leases loss allowance $901
    Total loans and leases (domestic) $82,392
    All real estate loans $48,556
    Real estate loans in domestic offices $48,556
    Construction and development loans $2,565
    Residential 1-4 family construction $1,879
    Other construction, all land development and other land $686
    Loans secured by nonfarm nonresidential properties $8,529
    Nonfarm nonresidential secured by owner-occupied properties $6,814
    Commercial real estate & other non-farm, non-residential $1,715
    Multifamily residential real estate $224
    1-4 family residential loans $22,266
    Farmland loans $14,972
    Loans held in foreign offices $0
    Farm loans $12,211
    Commercial and industrial loans $15,400
    To non-U.S. addressees $0
    Loans to individuals $5,147
    Credit card loans $353
    Related Plans $37
    Consumer Auto Loans $2,196
    Other loans to individuals $2,561
    All other loans & leases $1,078
    Loans to foreign governments and official institutions $0
    Other loans $43
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $38
    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

    Scott State Bank had $81,491,000 of loans outstanding in 2019. $48,556,000 of loans were in real estate loans. $2,565,000 of loans were in development loans. $224,000 of loans were in multifamily mortgage loans. $22,266,000 of loans were in 1-4 family mortgage loans. $12,211,000 of loans were in farm loans. $353,000 of loans were in credit card loans. $2,196,000 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 112 $7,899 $70,527
    Nonfarm, nonresidential loans - <$100k 78 $2,763 $35,423
    Nonfarm, nonresidential loans - $100-250k 25 $2,604 $104,160
    Nonfarm, nonresidential loans - $250k-1MM 9 $2,532 $281,333
    Commercial & Industrial, US addressed loans - <$1MM 196 $10,588 $54,020
    Commercial & Industrial, US addressed loans - <$100k 161 $3,753 $23,311
    Commercial & Industrial, US addressed loans - $100-250k 25 $3,141 $125,640
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $3,694 $369,400
    Farmland loans - <$1MM 61 $6,643 $108,902
    Farmland loans - <$100k 22 $910 $41,364
    Farmland loans - $100-250k 22 $2,330 $105,909
    Farmland loans - $250k-1MM 17 $3,403 $200,176
    Agriculture operations loans - <$1MM 160 $9,368 $58,550
    Agriculture operations loans - <$100k 117 $2,228 $19,043
    Agriculture operations loans - $100-250k 31 $3,935 $126,935
    Agriculture operations loans - $250k-1MM 12 $3,205 $267,083