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, Refi, and Cash Out Refi loans. Scott State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Decatur, Charleston, Champaign, Springfield, and St. Louis among others. We have data for 7 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

    163

    Origination Dollar Volume (All Markets)

    $19,625,000

    Employee count

    46

    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
    DECATUR, IL (FHA|USDA|VA) 85 $9,745,000 $114,647 $0 0.00%
    Outside of Metro Areas 65 $8,095,000 $124,538 $0 0.00%
    Charleston-Mattoon, IL (FHA|USDA|VA) 6 $710,000 $118,333 $0 0.00%
    CHAMPAIGN-URBANA, IL (FHA|USDA|VA) 2 $320,000 $160,000 $0 0.00%
    SPRINGFIELD, IL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $300,000 $150,000 $0 0.00%
    Effingham, IL (FHA|USDA|VA) 2 $150,000 $75,000 $0 0.00%
    Scott State Bank's top markets include Decatur, Charleston, Champaign, Springfield, and St. Louis among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 163 $19,625,000 $120,399 $0 0.00%

    For 2020, Scott State Bank'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 54 $5,480,000 $101,481 $0 0.00%
    Refi 51 $7,925,000 $155,392 $0 0.00%
    Cash Out Refi 51 $5,935,000 $116,373 $0 0.00%
    Home Improvement 4 $110,000 $27,500 $0 0.00%
    Other 3 $175,000 $58,333 $0 0.00%

    For 2020, Scott State Bank's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Refi, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 163 $19,625,000 $120,399 $0 0.00%

    For 2020, Scott State Bank'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 85 $5,225,000 $61,471 $0 0.00%
    $100k-200k 53 $7,165,000 $135,189 $0 0.00%
    $200k-400k 23 $6,255,000 $271,957 $0 0.00%
    $400k-600k 2 $980,000 $490,000 $0 0.00%

    2020 saw Scott State Bank place emphasis on $100,000 or less loans with 85 originations, totaling $5,225,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 45 $7,145,000 $158,778 $0 0.00%
    $50k-75k 36 $3,630,000 $100,833 $0 0.00%
    $50k or less 34 $2,000,000 $58,824 $0 0.00%
    $75k-100k 32 $3,710,000 $115,938 $0 0.00%
    $150k-250k 11 $2,255,000 $205,000 $0 0.00%
    $250k+ 4 $830,000 $207,500 $0 0.00%

    Scott State Bank lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $50k-75k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 163 $19,625,000 $120,399 $0 0.00%

    Scott State Bank 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 150 $17,660,000 $117,733 $0 0.00%
    Not provided 9 $1,535,000 $170,556 $0 0.00%
    American Indian 2 $320,000 $160,000 $0 0.00%
    Black 1 $55,000 $55,000 $0 0.00%
    Not applicable 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.85%

    Scott State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.93%

    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 163 $19,625,000 $120,399

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $435,000 $435,000
    Single Family (1-4 Units):Manufactured 3 $165,000 $55,000
    Single Family (1-4 Units):Site-Built 159 $19,025,000 $119,654

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    SOUTHSTATE CORPORATION Conventional home mortgage Struggling to pay mortgage 1 14.3%
    SOUTHSTATE CORPORATION Conventional home mortgage Trouble during payment process 5 71.4%
    SOUTHSTATE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Scott State Bank 100 East Main Street Dalton City, IL 61925 Full Service B&M $7,035
    Scott State Bank 101 East Main Street Maroa, IL 61756 Full Service B&M $19,961
    Scott State Bank 101 West Main Street Bethany, IL 61914 Full Service B&M $49,060
    Scott State Bank 1120 Route 121 Mount Zion, IL 62549 Full Service B&M $6,903
    Scott State Bank 200 East Lewis Street Niantic, IL 62551 Full Service B&M $37,392
    Scott State Bank 310 W. Jackson Sullivan, IL 61951 Full Service B&M $23,998
    Scott State Bank 3950 West Fountain Lane Decatur, IL 62522 Full Service B&M $8,748

    For 2020, Scott State Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $5,493
    Net interest income $5,091
    Total noninterest income $1,264
    Gross Fiduciary activities income $138
    Service charges on deposit accounts $190
    Trading account gains and fees $0
    Additional Noninterest Income $936
    Pre-tax net operating income $1,612
    Securities gains (or losses, -) $55
    Income before extraordinary items $1,645
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,645
    Minority interest net income $0
    Net income $1,645
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,590

    Scott State Bank's gross interest income from loans was $5,493,000.
    Scott State Bank's net interest income from loans was $5,091,000.
    Scott State Bank's fee based income from loans was $190,000.
    Scott State Bank's net income from loans was $1,645,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $402
    Provision for credit losses $100
    Total noninterest expense $4,643
    Salaries and employee benefits $2,698
    Premises and equipment expense $657
    Additional noninterest expense $1,288
    Applicable income taxes $22
    Net charge-offs $114
    Cash dividends $1,000

    Scott State Bank's interest expense for loans was $402,000.
    Scott State Bank's payroll and benefits expense were $2,698,000.
    Scott State Bank's property, plant and equipment expenses $657,000.

    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 2.0%
    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 0.9%
    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 $156,487
    Deposits held in domestic offices $156,487
    Deposits by Individuals, partnerships, and corporations $133,056
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $23,431
    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 $70,770
    Demand deposits $36,660
    Nontransaction accounts $85,717
    Money market deposit accounts (MMDAs) $27,120
    Other savings deposits (excluding MMDAs) $33,844
    Total time deposits $24,752
    Total time and savings deposits $119,827
    Noninterest-bearing deposits $36,660
    Interest-bearing deposits $119,827
    Retail deposits $151,347
    IRAs and Keogh plan accounts $4,422
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $183,850
    Cash & Balances due from depository institutions $29,452
    Interest-bearing balances $22,608
    Total securities $70,053
    Federal funds sold & reverse repurchase $522
    Net loans and leases $75,751
    Loan and leases loss allowance $887
    Trading account assets $0
    Bank premises and fixed assets $2,944
    Other real estate owned $0
    Goodwill and other intangibles $125
    All other assets $5,003

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $183,850
    Total Liabilities $156,868
    Total deposits $156,487
    Interest-bearing deposits $119,827
    Deposits held in domestic offices $156,487
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $381

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $75,751
    Loan and leases loss allowance $887
    Total loans and leases (domestic) $76,638
    All real estate loans $43,227
    Real estate loans in domestic offices $43,227
    Construction and development loans $1,739
    Residential 1-4 family construction $1,638
    Other construction, all land development and other land $101
    Loans secured by nonfarm nonresidential properties $7,133
    Nonfarm nonresidential secured by owner-occupied properties $5,661
    Commercial real estate & other non-farm, non-residential $1,472
    Multifamily residential real estate $202
    1-4 family residential loans $19,660
    Farmland loans $14,493
    Loans held in foreign offices $0
    Farm loans $12,182
    Commercial and industrial loans $15,915
    To non-U.S. addressees $0
    Loans to individuals $4,425
    Credit card loans $348
    Related Plans $28
    Consumer Auto Loans $1,964
    Other loans to individuals $2,085
    All other loans & leases $889
    Loans to foreign governments and official institutions $0
    Other loans $3
    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

    Scott State Bank had $75,751,000 of loans outstanding in 2020. $43,227,000 of loans were in real estate loans. $1,739,000 of loans were in development loans. $202,000 of loans were in multifamily mortgage loans. $19,660,000 of loans were in 1-4 family mortgage loans. $12,182,000 of loans were in farm loans. $348,000 of loans were in credit card loans. $1,964,000 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 92 $7,133 $77,533
    Nonfarm, nonresidential loans - <$100k 62 $2,119 $34,177
    Nonfarm, nonresidential loans - $100-250k 19 $1,799 $94,684
    Nonfarm, nonresidential loans - $250k-1MM 11 $3,215 $292,273
    Commercial & Industrial, US addressed loans - <$1MM 221 $10,508 $47,548
    Commercial & Industrial, US addressed loans - <$100k 181 $3,889 $21,486
    Commercial & Industrial, US addressed loans - $100-250k 30 $3,850 $128,333
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $2,769 $276,900
    Farmland loans - <$1MM 57 $6,867 $120,474
    Farmland loans - <$100k 20 $812 $40,600
    Farmland loans - $100-250k 22 $2,444 $111,091
    Farmland loans - $250k-1MM 15 $3,611 $240,733
    Agriculture operations loans - <$1MM 147 $8,372 $56,952
    Agriculture operations loans - <$100k 108 $3,203 $29,657
    Agriculture operations loans - $100-250k 31 $3,441 $111,000
    Agriculture operations loans - $250k-1MM 8 $1,728 $216,000