Midamerica National Bank Mortgage Rates, Fees & Info

Canton, IL

LEI: 549300Z4ZK628DTL4L52

Tax ID: 37-0435170

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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

    Midamerica National Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Midamerica National Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top (well, only) market is Peoria.

    Midamerica National 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

    173

    Origination Dollar Volume (All Markets)

    $20,475,000

    Employee count

    112

    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 150 $17,950,000 $119,667 $0 0.00%
    PEORIA, IL (FHA|USDA|VA) 23 $2,525,000 $109,783 $0 0.00%
    Midamerica National Bank's top markets include and Peoria among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 167 $19,955,000 $119,491 $0 0.00%
    USDA 6 $520,000 $86,667 $0 0.00%

    For 2018, Midamerica National Bank's most frequently originated type of loan was Conventional, with 167 originations. Their 2nd most popular type was USDA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 91 $11,225,000 $123,352 $0 0.00%
    Cash Out Refi 47 $4,165,000 $88,617 $0 0.00%
    Refi 28 $4,760,000 $170,000 $0 0.00%
    Home Improvement 6 $200,000 $33,333 $0 0.00%
    Other 1 $125,000 $125,000 $0 0.00%

    For 2018, Midamerica National Bank's most frequently cited loan purpose was Home Purchase, with 91 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 173 $20,475,000 $118,353 $0 0.00%

    For 2018, Midamerica National Bank's most frequently cited loan duration was Other, with 173 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 100 $5,600,000 $56,000 $0 0.00%
    $100k-200k 51 $6,905,000 $135,392 $0 0.00%
    $200k-400k 16 $4,020,000 $251,250 $0 0.00%
    $400k-600k 4 $1,870,000 $467,500 $0 0.00%
    $1MM+ 1 $1,245,000 $1,245,000 $0 0.00%
    $600k-1MM 1 $835,000 $835,000 $0 0.00%

    2018 saw Midamerica National Bank place emphasis on $100,000 or less loans with 100 originations, totaling $5,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 47 $2,815,000 $59,894 $0 0.00%
    $50k-75k 35 $3,185,000 $91,000 $0 0.00%
    $75k-100k 32 $3,320,000 $103,750 $0 0.00%
    $100k-150k 30 $4,390,000 $146,333 $0 0.00%
    $150k-250k 15 $2,405,000 $160,333 $0 0.00%
    $250k+ 9 $3,665,000 $407,222 $0 0.00%

    Midamerica National Bank lent most frequently to those with incomes in the $50k or less range, with 47 originations. The second most popular income band? $50k-75k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 173 $20,475,000 $118,353 $0 0.00%

    Midamerica National Bank lent most frequently to those with DTI ratios of Exempt%, with 173 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 166 $19,570,000 $117,892 $0 0.00%
    Not provided 2 $390,000 $195,000 $0 0.00%
    Not applicable 2 $320,000 $160,000 $0 0.00%
    Black 2 $140,000 $70,000 $0 0.00%
    Asian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.96%

    Midamerica National Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    89.02%

    Midamerica National Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 173 $20,475,000 $118,353

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $675,000 $225,000
    Single Family (1-4 Units):Manufactured 5 $325,000 $65,000
    Single Family (1-4 Units):Site-Built 165 $19,475,000 $118,030

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    MidAmerica Mortgage Inc Conventional home mortgage Struggling to pay mortgage 1 5.0%
    MidAmerica Mortgage Inc Conventional home mortgage Trouble during payment process 8 40.0%
    MidAmerica Mortgage Inc FHA mortgage Closing on a mortgage 1 5.0%
    MidAmerica Mortgage Inc FHA mortgage Trouble during payment process 3 15.0%
    MidAmerica Mortgage Inc VA mortgage Struggling to pay mortgage 1 5.0%
    MidAmerica Mortgage Inc VA mortgage Trouble during payment process 6 30.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    MidAmerica National Bank 130 North Side Square Macomb, IL 61455 Full Service B&M $121,057
    MidAmerica National Bank 300 East Main Street Cuba, IL 61427 Full Service B&M $17,594
    MidAmerica National Bank 100 West Elm Street Canton, IL 61520 Full Service B&M $141,904
    MidAmerica National Bank 120 East Washington Street Lewistown, IL 61542 Full Service B&M $15,834
    MidAmerica National Bank 700 Second Street Henry, IL 61537 Full Service B&M $75,991
    MidAmerica National Bank 804 West Jackson Street Macomb, IL 61455 Limited, Drive-thru $0

    For 2018, Midamerica National Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,118
    Net interest income $15,129
    Total noninterest income $3,144
    Gross Fiduciary activities income $1,370
    Service charges on deposit accounts $387
    Trading account gains and fees $0
    Additional Noninterest Income $1,387
    Pre-tax net operating income $6,424
    Securities gains (or losses, -) $-5
    Income before extraordinary items $5,016
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,016
    Minority interest net income $0
    Net income $5,016
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,019

    Midamerica National Bank's gross interest income from loans was $16,118,000.
    Midamerica National Bank's net interest income from loans was $15,129,000.
    Midamerica National Bank's fee based income from loans was $387,000.
    Midamerica National Bank's net income from loans was $5,016,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $989
    Provision for credit losses $507
    Total noninterest expense $11,342
    Salaries and employee benefits $7,271
    Premises and equipment expense $987
    Additional noninterest expense $3,084
    Applicable income taxes $1,403
    Net charge-offs $351
    Cash dividends $1,620

    Midamerica National Bank's interest expense for loans was $989,000.
    Midamerica National Bank's payroll and benefits expense were $7,271,000.
    Midamerica National Bank's property, plant and equipment expenses $987,000.

    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 1.0%
    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 $356,351
    Deposits held in domestic offices $356,351
    Deposits by Individuals, partnerships, and corporations $304,820
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $51,440
    Deposits by Commercial banks and other depository institutions in U.S. $91
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $194,088
    Demand deposits $87,672
    Nontransaction accounts $162,263
    Money market deposit accounts (MMDAs) $40,398
    Other savings deposits (excluding MMDAs) $42,826
    Total time deposits $79,039
    Total time and savings deposits $268,679
    Noninterest-bearing deposits $87,671
    Interest-bearing deposits $268,680
    Retail deposits $348,526
    IRAs and Keogh plan accounts $16,529
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $412,971
    Cash & Balances due from depository institutions $19,746
    Interest-bearing balances $17,694
    Total securities $121,051
    Federal funds sold & reverse repurchase $0
    Net loans and leases $255,605
    Loan and leases loss allowance $3,464
    Trading account assets $0
    Bank premises and fixed assets $3,303
    Other real estate owned $118
    Goodwill and other intangibles $7,718
    All other assets $5,430

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $412,971
    Total Liabilities $362,676
    Total deposits $356,351
    Interest-bearing deposits $268,680
    Deposits held in domestic offices $356,351
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $3,392
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,933

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $255,605
    Loan and leases loss allowance $3,464
    Total loans and leases (domestic) $259,069
    All real estate loans $176,131
    Real estate loans in domestic offices $176,131
    Construction and development loans $12,244
    Residential 1-4 family construction $1,159
    Other construction, all land development and other land $11,085
    Loans secured by nonfarm nonresidential properties $63,315
    Nonfarm nonresidential secured by owner-occupied properties $41,644
    Commercial real estate & other non-farm, non-residential $21,671
    Multifamily residential real estate $5,932
    1-4 family residential loans $55,065
    Farmland loans $39,575
    Loans held in foreign offices $0
    Farm loans $31,986
    Commercial and industrial loans $28,375
    To non-U.S. addressees $0
    Loans to individuals $20,223
    Credit card loans $0
    Related Plans $18
    Consumer Auto Loans $10,937
    Other loans to individuals $9,268
    All other loans & leases $2,354
    Loans to foreign governments and official institutions $0
    Other loans $35
    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 $2,651
    Non 1-4 family restructured loans & leases $953
    Total loans and leases (foreign) $0

    MidAmerica National Bank had $255,605,000 of loans outstanding in 2018. $176,131,000 of loans were in real estate loans. $12,244,000 of loans were in development loans. $5,932,000 of loans were in multifamily mortgage loans. $55,065,000 of loans were in 1-4 family mortgage loans. $31,986,000 of loans were in farm loans. $0 of loans were in credit card loans. $10,937,000 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 189 $30,606 $161,937
    Nonfarm, nonresidential loans - <$100k 74 $3,267 $44,149
    Nonfarm, nonresidential loans - $100-250k 66 $8,213 $124,439
    Nonfarm, nonresidential loans - $250k-1MM 49 $19,126 $390,327
    Commercial & Industrial, US addressed loans - <$1MM 318 $16,721 $52,582
    Commercial & Industrial, US addressed loans - <$100k 260 $5,038 $19,377
    Commercial & Industrial, US addressed loans - $100-250k 33 $3,026 $91,697
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $8,657 $346,280
    Farmland loans - <$1MM 139 $18,857 $135,662
    Farmland loans - <$100k 54 $2,378 $44,037
    Farmland loans - $100-250k 48 $6,141 $127,938
    Farmland loans - $250k-1MM 37 $10,338 $279,405
    Agriculture operations loans - <$1MM 286 $16,847 $58,906
    Agriculture operations loans - <$100k 205 $4,876 $23,785
    Agriculture operations loans - $100-250k 52 $5,795 $111,442
    Agriculture operations loans - $250k-1MM 29 $6,176 $212,966