Bank Of O'fallon Mortgage Rates, Fees & Info

O'Fallon, IL

LEI: 549300ZJ52ZRS3Q0S589

Tax ID: 37-0795749

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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

    Bank Of O'fallon is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Bank Of O'fallon has a high proportion of conventional loans. Their top markets by origination volume include: St. Louis, Crestview, North Port, Panama City, and Chicago among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of O'fallon 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

    186

    Origination Dollar Volume (All Markets)

    $40,260,000

    Employee count

    33

    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
    ST. LOUIS, MO-IL (FHA|USDA|VA) 173 $37,345,000 $215,867 $0 0.00%
    Outside of Metro Areas 6 $1,050,000 $175,000 $0 0.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $600,000 $300,000 $0 0.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
    PANAMA CITY, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Bank Of O'fallon's top markets include St. Louis, Crestview, North Port, Panama City, and Chicago among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 186 $40,260,000 $216,452 $0 0.00%

    For 2020, Bank Of O'fallon's most frequently originated type of loan was Conventional, with 186 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 108 $23,810,000 $220,463 $0 0.00%
    Cash Out Refi 51 $13,255,000 $259,902 $0 0.00%
    Other 12 $1,000,000 $83,333 $0 0.00%
    Refi 12 $1,790,000 $149,167 $0 0.00%
    Home Improvement 3 $405,000 $135,000 $0 0.00%

    For 2020, Bank Of O'fallon's most frequently cited loan purpose was Home Purchase, with 108 originations. The 2nd most popular reason was Cash Out Refi, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 186 $40,260,000 $216,452 $0 0.00%

    For 2020, Bank Of O'fallon's most frequently cited loan duration was Other, with 186 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 71 $9,935,000 $139,930 $0 0.00%
    $100,000 or less 50 $3,040,000 $60,800 $0 0.00%
    $200k-400k 41 $11,305,000 $275,732 $0 0.00%
    $400k-600k 18 $8,570,000 $476,111 $0 0.00%
    $1MM+ 3 $5,085,000 $1,695,000 $0 0.00%
    $600k-1MM 3 $2,325,000 $775,000 $0 0.00%

    2020 saw Bank Of O'fallon place emphasis on $100k-200k loans with 71 originations, totaling $9,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 35 $9,005,000 $257,286 $0 0.00%
    $50k-75k 30 $4,390,000 $146,333 $0 0.00%
    $100k-150k 27 $5,045,000 $186,852 $0 0.00%
    $75k-100k 20 $3,300,000 $165,000 $0 0.00%
    $250k+ 17 $9,925,000 $583,824 $0 0.00%
    $50k or less 16 $1,210,000 $75,625 $0 0.00%

    Bank Of O'fallon lent most frequently to those with incomes in the $150k-250k range, with 35 originations. The second most popular income band? $50k-75k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 186 $40,260,000 $216,452 $0 0.00%

    Bank Of O'fallon lent most frequently to those with DTI ratios of Exempt%, with 186 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 137 $31,755,000 $231,788 $0 0.00%
    Not applicable 40 $7,330,000 $183,250 $0 0.00%
    Not provided 7 $1,035,000 $147,857 $0 0.00%
    Black 1 $105,000 $105,000 $0 0.00%
    Filipino 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.99%

    Bank Of O'fallon has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    94.62%

    Bank Of O'fallon has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 186 $40,260,000 $216,452

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $365,000 $73,000
    Single Family (1-4 Units):Site-Built 181 $39,895,000 $220,414

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Incorrect information on your report 1 3.8%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 4 15.4%
    BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 2 7.7%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 6 23.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 2 7.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 4 15.4%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 7.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.8%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of O'fallon 901 South Lincoln Avenue O'fallon, IL 62269 Full Service B&M $284,052
    Bank of O'fallon Lincoln And Virginia Avenues O'fallon, IL 62269 Limited, Drive-thru $0

    For 2020, Bank Of O'fallon had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,165
    Net interest income $8,841
    Total noninterest income $254
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $116
    Trading account gains and fees $0
    Additional Noninterest Income $138
    Pre-tax net operating income $4,105
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,105
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,105
    Minority interest net income $0
    Net income $4,105
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,105

    Bank Of O'fallon's gross interest income from loans was $12,165,000.
    Bank Of O'fallon's net interest income from loans was $8,841,000.
    Bank Of O'fallon's fee based income from loans was $116,000.
    Bank Of O'fallon's net income from loans was $4,105,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,324
    Provision for credit losses $10
    Total noninterest expense $4,980
    Salaries and employee benefits $2,958
    Premises and equipment expense $431
    Additional noninterest expense $1,591
    Applicable income taxes $0
    Net charge-offs $59
    Cash dividends $2,450

    Bank Of O'fallon's interest expense for loans was $3,324,000.
    Bank Of O'fallon's payroll and benefits expense were $2,958,000.
    Bank Of O'fallon's property, plant and equipment expenses $431,000.

    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 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $271,473
    Deposits held in domestic offices $271,473
    Deposits by Individuals, partnerships, and corporations $231,659
    Deposits by U.S. Government $26
    Deposits by States and political subdivisions in the U.S. $39,788
    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 $82,351
    Demand deposits $49,692
    Nontransaction accounts $189,122
    Money market deposit accounts (MMDAs) $27,330
    Other savings deposits (excluding MMDAs) $33,508
    Total time deposits $128,283
    Total time and savings deposits $221,781
    Noninterest-bearing deposits $49,692
    Interest-bearing deposits $221,781
    Retail deposits $226,403
    IRAs and Keogh plan accounts $17,637
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $318,470
    Cash & Balances due from depository institutions $42,138
    Interest-bearing balances $40,009
    Total securities $18,486
    Federal funds sold & reverse repurchase $2,740
    Net loans and leases $249,396
    Loan and leases loss allowance $4,109
    Trading account assets $0
    Bank premises and fixed assets $2,136
    Other real estate owned $428
    Goodwill and other intangibles $0
    All other assets $3,146

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $318,470
    Total Liabilities $272,388
    Total deposits $271,473
    Interest-bearing deposits $221,781
    Deposits held in domestic offices $271,473
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $915

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $249,396
    Loan and leases loss allowance $4,109
    Total loans and leases (domestic) $253,505
    All real estate loans $212,910
    Real estate loans in domestic offices $212,910
    Construction and development loans $25,642
    Residential 1-4 family construction $15,342
    Other construction, all land development and other land $10,300
    Loans secured by nonfarm nonresidential properties $32,770
    Nonfarm nonresidential secured by owner-occupied properties $9,323
    Commercial real estate & other non-farm, non-residential $23,447
    Multifamily residential real estate $5,799
    1-4 family residential loans $143,809
    Farmland loans $4,890
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $21,030
    To non-U.S. addressees $0
    Loans to individuals $18,236
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $4,823
    Other loans to individuals $13,413
    All other loans & leases $1,329
    Loans to foreign governments and official institutions $0
    Other loans $233
    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

    Bank of O'Fallon had $249,396,000 of loans outstanding in 2020. $212,910,000 of loans were in real estate loans. $25,642,000 of loans were in development loans. $5,799,000 of loans were in multifamily mortgage loans. $143,809,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,823,000 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 $16,738 $181,935
    Nonfarm, nonresidential loans - <$100k 23 $1,088 $47,304
    Nonfarm, nonresidential loans - $100-250k 36 $4,174 $115,944
    Nonfarm, nonresidential loans - $250k-1MM 33 $11,476 $347,758
    Commercial & Industrial, US addressed loans - <$1MM 212 $10,749 $50,703
    Commercial & Industrial, US addressed loans - <$100k 173 $4,162 $24,058
    Commercial & Industrial, US addressed loans - $100-250k 26 $2,424 $93,231
    Commercial & Industrial, US addressed loans - $250k-1MM 13 $4,163 $320,231
    Farmland loans - <$1MM 8 $1,335 $166,875
    Farmland loans - <$100k 3 $96 $32,000
    Farmland loans - $100-250k 2 $234 $117,000
    Farmland loans - $250k-1MM 3 $1,005 $335,000