Federated Bank Mortgage Rates, Fees & Info
Onarga, ILLEI: 549300X66F41NHRM7578
Tax ID: 37-0447880
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Mortgage Data
Bank Data
Review & Overview
Federated Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Federated Bank has a high proportion of conventional loans. Their top markets by origination volume include: Kankakee, Chicago, Arcadia, Decatur, and Champaign among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Federated Bank has an 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
56Origination Dollar Volume (All Markets)
$6,610,000Employee count
27Top 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 | 38 | $3,850,000 | $101,316 | $0 | 0.00% |
| KANKAKEE, IL (FHA|USDA|VA) | 9 | $985,000 | $109,444 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 0.00% |
| Arcadia, FL (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| DECATUR, IL (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| CHAMPAIGN-URBANA, IL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 0.00% |
| Pontiac, IL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| Ottawa, IL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 56 | $6,610,000 | $118,036 | $0 | 0.00% |
For 2019, Federated Bank's most frequently originated type of loan was Conventional, with 56 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 32 | $3,450,000 | $107,813 | $0 | 0.00% |
| Cash Out Refi | 13 | $1,965,000 | $151,154 | $0 | 0.00% |
| Refi | 11 | $1,195,000 | $108,636 | $0 | 0.00% |
For 2019, Federated Bank's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Cash Out Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 56 | $6,610,000 | $118,036 | $0 | 0.00% |
For 2019, Federated Bank's most frequently cited loan duration was Other, with 56 originations.
Loan Sizing
2019 saw Federated Bank place emphasis on $100,000 or less loans with 29 originations, totaling $1,815,000 in origination value.
Applicant Income
Federated Bank lent most frequently to those with incomes in the $50k-75k range, with 24 originations. The second most popular income band? $100k-150k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 56 | $6,610,000 | $118,036 | $0 | 0.00% |
Federated Bank lent most frequently to those with DTI ratios of Exempt%, with 56 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.67%
Federated Bank has an average approval rate.
Pick Rate
Approvals leading to origination83.93%
Federated Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 56 | $6,610,000 | $118,036 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $240,000 | $120,000 |
| Single Family (1-4 Units):Site-Built | 54 | $6,370,000 | $117,963 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Federated Bank | 107 North Chestnut Onarga, IL 60955 | Full Service B&M | $24,456 |
| Federated Bank | 327 South Kinzie Avenue Bradley, IL 60915 | Full Service B&M | $10,353 |
| Federated Bank | First North And Chestnut Streets Chebanse, IL 60922 | Full Service B&M | $24,795 |
| Federated Bank | Oak And South First Streets Loda, IL 60948 | Full Service B&M | $12,005 |
For 2019, Federated Bank had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $3,301 |
| Net interest income | $2,973 |
| Total noninterest income | $634 |
| Gross Fiduciary activities income | $3 |
| Service charges on deposit accounts | $160 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $471 |
| Pre-tax net operating income | $499 |
| Securities gains (or losses, -) | $40 |
| Income before extraordinary items | $539 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $539 |
| Minority interest net income | $0 |
| Net income | $539 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $499 |
Federated Bank's gross interest income from loans was $3,301,000.
Federated Bank's net interest income from loans was $2,973,000.
Federated Bank's fee based income from loans was $160,000.
Federated Bank's net income from loans was $539,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $328 |
| Provision for credit losses | $0 |
| Total noninterest expense | $3,108 |
| Salaries and employee benefits | $1,608 |
| Premises and equipment expense | $332 |
| Additional noninterest expense | $1,168 |
| Applicable income taxes | $0 |
| Net charge-offs | $8 |
| Cash dividends | $234 |
Federated Bank's interest expense for loans was $328,000.
Federated Bank's payroll and benefits expense were $1,608,000.
Federated Bank's property, plant and equipment expenses $332,000.
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 | 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 | $87,451 |
| Deposits held in domestic offices | $87,451 |
| Deposits by Individuals, partnerships, and corporations | $76,556 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $10,895 |
| 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 | $48,620 |
| Demand deposits | $32,676 |
| Nontransaction accounts | $38,831 |
| Money market deposit accounts (MMDAs) | $3,864 |
| Other savings deposits (excluding MMDAs) | $18,810 |
| Total time deposits | $16,157 |
| Total time and savings deposits | $54,775 |
| Noninterest-bearing deposits | $32,676 |
| Interest-bearing deposits | $54,775 |
| Retail deposits | $84,994 |
| IRAs and Keogh plan accounts | $4,143 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $99,021 |
| Cash & Balances due from depository institutions | $26,989 |
| Interest-bearing balances | $25,867 |
| Total securities | $29,107 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $37,521 |
| Loan and leases loss allowance | $321 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,464 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $3,292 |
| All other assets | $648 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $99,021 |
| Total Liabilities | $87,550 |
| Total deposits | $87,451 |
| Interest-bearing deposits | $54,775 |
| Deposits held in domestic offices | $87,451 |
| % insured (estimated) | $74 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $99 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $37,521 |
| Loan and leases loss allowance | $321 |
| Total loans and leases (domestic) | $37,842 |
| All real estate loans | $24,736 |
| Real estate loans in domestic offices | $24,736 |
| Construction and development loans | $844 |
| Residential 1-4 family construction | $534 |
| Other construction, all land development and other land | $310 |
| Loans secured by nonfarm nonresidential properties | $6,598 |
| Nonfarm nonresidential secured by owner-occupied properties | $1,564 |
| Commercial real estate & other non-farm, non-residential | $5,034 |
| Multifamily residential real estate | $0 |
| 1-4 family residential loans | $14,356 |
| Farmland loans | $2,938 |
| Loans held in foreign offices | $0 |
| Farm loans | $3,694 |
| Commercial and industrial loans | $5,533 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,670 |
| Credit card loans | $755 |
| Related Plans | $65 |
| Consumer Auto Loans | $1,025 |
| Other loans to individuals | $825 |
| All other loans & leases | $1,209 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| 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 |
Federated Bank had $37,521,000 of loans outstanding in 2019. $24,736,000 of loans were in real estate loans. $844,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $14,356,000 of loans were in 1-4 family mortgage loans. $3,694,000 of loans were in farm loans. $755,000 of loans were in credit card loans. $1,025,000 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 | 47 | $6,598 | $140,383 |
| Nonfarm, nonresidential loans - <$100k | 23 | $785 | $34,130 |
| Nonfarm, nonresidential loans - $100-250k | 13 | $1,791 | $137,769 |
| Nonfarm, nonresidential loans - $250k-1MM | 11 | $4,022 | $365,636 |
| Commercial & Industrial, US addressed loans - <$1MM | 117 | $5,157 | $44,077 |
| Commercial & Industrial, US addressed loans - <$100k | 89 | $1,733 | $19,472 |
| Commercial & Industrial, US addressed loans - $100-250k | 18 | $1,182 | $65,667 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 10 | $2,242 | $224,200 |
| Farmland loans - <$1MM | 13 | $1,942 | $149,385 |
| Farmland loans - <$100k | 6 | $291 | $48,500 |
| Farmland loans - $100-250k | 1 | $83 | $83,000 |
| Farmland loans - $250k-1MM | 6 | $1,568 | $261,333 |
| Agriculture operations loans - <$1MM | 33 | $3,096 | $93,818 |
| Agriculture operations loans - <$100k | 19 | $630 | $33,158 |
| Agriculture operations loans - $100-250k | 9 | $587 | $65,222 |
| Agriculture operations loans - $250k-1MM | 5 | $1,879 | $375,800 |