Central Bank Illinois Mortgage Rates, Fees & Info

Geneseo, IL

LEI: 549300ZM3TKJVUYB3676

Tax ID: 36-0886040

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Central Bank Illinois is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Central Bank Illinois has a high proportion of conventional loans. Their top markets by origination volume include: Ottawa, Chicago, Davenport, Rochelle, and Sterling among others. We have data for 31 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Central Bank Illinois has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Central Bank Illinois is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.60% 11/21/24
    30 Year Conventional Refi 6.28% 11/21/24
    30 Year Cash-out Refi 6.49% 11/21/24
    15 Year Conventional Purchase 6.47% 11/21/24
    15 Year Conventional Refi 6.21% 11/21/24
    15 Year Cash-out Refi 6.21% 11/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Central Bank Illinois Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Central Bank Illinois. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    611

    Origination Dollar Volume (All Markets)

    $86,465,000

    Employee count

    172 Show all (6) awards

    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
    Ottawa, IL (FHA|USDA|VA) 243 $26,095,000 $107,387 $1,280 3.30%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 35 $14,245,000 $407,000 $1,880 3.26%
    DAVENPORT-MOLINE-ROCK ISLAND, IA-IL (FHA|USDA|VA) 87 $13,225,000 $152,011 $1,373 3.25%
    Rochelle, IL (FHA|USDA|VA) 107 $12,935,000 $120,888 $1,597 3.22%
    Sterling, IL (FHA|USDA|VA) 60 $6,550,000 $109,167 $1,091 3.26%
    Dixon, IL (FHA|USDA|VA) 27 $3,195,000 $118,333 $1,688 3.29%
    Outside of Metro Areas 11 $1,705,000 $155,000 $1,502 3.22%
    CINCINNATI, OH-KY-IN (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 4.50%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $950,000 $475,000 $1,500 4.15%
    ROCKFORD, IL (FHA|USDA|VA) 8 $830,000 $103,750 $1,936 3.43%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 2 $690,000 $345,000 $0 4.50%
    Galesburg, IL (FHA|USDA|VA) 3 $675,000 $225,000 $1,412 2.79%
    BLOOMINGTON, IL (FHA|USDA|VA) 2 $470,000 $235,000 $2,788 3.06%
    Beaver Dam, WI (FHA|USDA|VA) 1 $385,000 $385,000 $2,737 3.38%
    Clinton, IA (FHA|USDA|VA) 4 $360,000 $90,000 $1,494 3.38%
    FARGO, ND-MN (FHA|USDA|VA) 1 $355,000 $355,000 $2,189 3.25%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $325,000 $325,000 $2,090 2.88%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $305,000 $305,000 $1,846 2.50%
    PEORIA, IL (FHA|USDA|VA) 3 $245,000 $81,667 $1,543 3.62%
    KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $235,000 $235,000 $3,367 2.25%
    GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) 1 $205,000 $205,000 $2,057 3.25%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $185,000 $185,000 $2,204 3.13%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,321 2.75%
    CARBONDALE-MARION, IL (FHA|USDA|VA) 1 $175,000 $175,000 $1,754 3.88%
    KANKAKEE, IL (FHA|USDA|VA) 1 $175,000 $175,000 $1,273 2.50%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 3.63%
    BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $125,000 $125,000 $690 4.12%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $115,000 $115,000 $1,433 3.13%
    EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $85,000 $85,000 $1,919 3.38%
    Charleston-Mattoon, IL (FHA|USDA|VA) 1 $65,000 $65,000 $0 4.40%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $45,000 $45,000 $2,201 3.13%
    Central Bank Illinois's top markets include Ottawa, Chicago, Davenport, Rochelle, and Sterling among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Wisconsin (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Central Bank Illinois based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Savings Bank of Hegewisch
    Similarity Rank: 45
    Liberty Bank for Savings
    Similarity Rank: 153
    Collins Community Credit Union
    Similarity Rank: 168
    R.I.A. Federal Credit Union
    Similarity Rank: 232
    DuTrac Community Credit Union
    Similarity Rank: 264
    ASCENTRA
    Similarity Rank: 286
    GAS AND ELECTRIC CREDIT UNION
    Similarity Rank: 294
    THE FAMILY CREDIT UNION
    Similarity Rank: 518
    SENB Bank
    Similarity Rank: 540
    RUHL MORTGAGE, LLC
    Similarity Rank: 540

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 611 $86,465,000 $141,514 $1,420 3.28%

    For 2021, Central Bank Illinois's most frequently originated type of loan was Conventional, with 611 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 244 $32,090,000 $131,516 $1,739 3.48%
    Refi 212 $35,810,000 $168,915 $1,129 3.19%
    Cash Out Refi 136 $17,420,000 $128,088 $1,390 2.99%
    Home Improvement 10 $560,000 $56,000 $818 3.78%
    Other 9 $585,000 $65,000 $636 3.66%

    For 2021, Central Bank Illinois's most frequently cited loan purpose was Home Purchase, with 244 originations. The 2nd most popular reason was Refi, with 212 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 227 $34,435,000 $151,696 $1,676 3.23%
    15 Year 173 $18,565,000 $107,312 $1,291 2.65%
    Other 115 $21,025,000 $182,826 $1,206 3.99%
    20 Year 41 $5,895,000 $143,780 $1,331 3.40%
    5 Year 24 $3,660,000 $152,500 $172 4.28%
    10 Year 17 $1,395,000 $82,059 $1,250 2.97%
    1 Year 13 $1,475,000 $113,462 $728 4.32%
    3 Year 1 $15,000 $15,000 $0 4.25%

    For 2021, Central Bank Illinois's most frequently cited loan duration was 30 Year, with 227 originations. The 2nd most popular length was 15 Year, with 173 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 498 $64,100,000 $128,715
    $3k-4k 3 $895,000 $298,333
    $1k-2k 2 $240,000 $120,000
    $4k-5k 2 $500,000 $250,000

    Central Bank Illinois's average total fees were $1,676, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 498 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 233 $42,815,000 $183,755
    2.5-3% 151 $19,145,000 $126,788
    <2.5% 112 $11,110,000 $99,196
    4-5% 111 $13,005,000 $117,162
    5-6% 4 $390,000 $97,500

    During 2021, Central Bank Illinois's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 233 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 270 $16,810,000 $62,259 $1,241 3.35%
    $100k-200k 244 $34,170,000 $140,041 $1,392 3.14%
    $200k-400k 85 $21,885,000 $257,471 $1,938 3.37%
    $400k-600k 8 $3,700,000 $462,500 $1,980 3.66%
    $1MM+ 4 $9,900,000 $2,475,000 $0 4.07%

    2021 saw Central Bank Illinois place emphasis on $100,000 or less loans with 270 originations, totaling $16,810,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 138 $15,080,000 $109,275 $1,347 3.22%
    $50k or less 132 $10,200,000 $77,273 $1,380 3.13%
    $100k-150k 118 $17,610,000 $149,237 $1,563 3.31%
    $75k-100k 109 $14,995,000 $137,569 $1,435 3.16%
    $150k-250k 49 $8,335,000 $170,102 $1,428 3.26%
    $250k+ 12 $2,930,000 $244,167 $1,294 3.18%

    Central Bank Illinois lent most frequently to those with incomes in the $50k-75k range, with 138 originations. The second most popular income band? $50k or less, with 132 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 160 $19,980,000 $124,875 $1,429 3.10%
    30-36% 99 $12,705,000 $128,333 $1,357 3.24%
    <20% 73 $7,675,000 $105,137 $1,376 2.95%
    37% 26 $4,120,000 $158,462 $1,378 3.49%
    38% 25 $3,075,000 $123,000 $1,543 3.08%
    42% 23 $3,225,000 $140,217 $1,342 3.15%
    41% 18 $2,160,000 $120,000 $1,526 3.14%
    39% 17 $2,515,000 $147,941 $1,604 3.08%
    36% 16 $1,670,000 $104,375 $1,165 3.61%
    45% 13 $1,765,000 $135,769 $1,548 3.00%
    44% 13 $1,925,000 $148,077 $1,556 3.44%
    40% 11 $1,915,000 $174,091 $1,660 2.83%
    43% 9 $1,175,000 $130,556 $1,513 2.83%
    46% 9 $985,000 $109,444 $1,785 3.15%
    47% 9 $1,075,000 $119,444 $1,357 2.85%
    48% 8 $1,160,000 $145,000 $1,283 2.94%
    49% 6 $730,000 $121,667 $1,567 3.13%
    50-60% 2 $190,000 $95,000 $1,700 3.90%
    >60% 2 $220,000 $110,000 $149 4.57%

    Central Bank Illinois lent most frequently to those with DTI ratios of 20-30%, with 160 originations. The next most common DTI ratio? 30-36%, with 99 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 564 $70,030,000 $124,167 $1,408 3.21%
    Not applicable 34 $14,370,000 $422,647 $0 4.30%
    Not provided 7 $1,145,000 $163,571 $2,788 3.54%
    Black 4 $490,000 $122,500 $1,131 3.34%
    Asian 2 $430,000 $215,000 $0 3.98%

    Approval Rates

    Total approvals of all applications
    95.14%

    Central Bank Illinois 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
    87.23%

    Central Bank Illinois has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 611 $86,465,000 $141,514

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    611 $86,465,000 $141,514

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $4,150,000 $94,318 $1,198 3.23%
    40-60% 101 $11,195,000 $110,842 $1,251 3.19%
    60-80% 321 $52,265,000 $162,819 $1,449 3.22%
    80-100% 120 $17,940,000 $149,500 $1,713 3.40%
    Under 20% 25 $915,000 $36,600 $477 3.95%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Central Mortgage Funding, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Central Bank Illinois 101 North State Street Geneseo, IL 61254 Full Service B&M $277,351
    Central Bank Illinois 1011 Shooting Park Road Peru, IL 61354 Full Service B&M $0
    Central Bank Illinois 1404 14th Avenue Fulton, IL 61252 Full Service B&M $63,123
    Central Bank Illinois 1721 Midtown Road Peru, IL 61354 Full Service B&M $32,839
    Central Bank Illinois 307 Franklin Street Oregon, IL 61061 Full Service B&M $0
    Central Bank Illinois 317 South Main Street Princeton, IL 61356 Full Service B&M $191,503
    Central Bank Illinois 340 May Mart Drive Rochelle, IL 61068 Full Service B&M $289,424
    Central Bank Illinois 425 Us Highway 6 East Geneseo, IL 61254 Full Service B&M $0
    Central Bank Illinois 803 Main Street Ashton, IL 61006 Full Service B&M $0
    Central Bank Illinois State Road 81 And Mulberry Street Andover, IL 61233 Full Service B&M $0

    For 2021, Central Bank Illinois had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $37,865
    Net interest income $33,898
    Total noninterest income $7,850
    Gross Fiduciary activities income $1,121
    Service charges on deposit accounts $839
    Trading account gains and fees $0
    Additional Noninterest Income $5,890
    Pre-tax net operating income $19,709
    Securities gains (or losses, -) $98
    Income before extraordinary items $15,686
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $15,686
    Minority interest net income $0
    Net income $15,686
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $15,608

    Central Bank Illinois's gross interest income from loans was $37,865,000.
    Central Bank Illinois's net interest income from loans was $33,898,000.
    Central Bank Illinois's fee based income from loans was $839,000.
    Central Bank Illinois's net income from loans was $15,686,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,967
    Provision for credit losses $296
    Total noninterest expense $21,743
    Salaries and employee benefits $15,097
    Premises and equipment expense $2,311
    Additional noninterest expense $4,335
    Applicable income taxes $4,121
    Net charge-offs $-69
    Cash dividends $5,000

    Central Bank Illinois's interest expense for loans was $3,967,000.
    Central Bank Illinois's payroll and benefits expense were $15,097,000.
    Central Bank Illinois's property, plant and equipment expenses $2,311,000.

    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 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    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 $926,322
    Deposits held in domestic offices $926,322
    Deposits by Individuals, partnerships, and corporations $758,244
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $167,812
    Deposits by Commercial banks and other depository institutions in U.S. $266
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $526,885
    Demand deposits $168,381
    Nontransaction accounts $399,437
    Money market deposit accounts (MMDAs) $139,390
    Other savings deposits (excluding MMDAs) $139,751
    Total time deposits $120,296
    Total time and savings deposits $757,941
    Noninterest-bearing deposits $168,091
    Interest-bearing deposits $758,231
    Retail deposits $907,304
    IRAs and Keogh plan accounts $20,613
    Brokered deposits $2
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,155,805
    Cash & Balances due from depository institutions $46,634
    Interest-bearing balances $16,885
    Total securities $468,645
    Federal funds sold & reverse repurchase $0
    Net loans and leases $580,268
    Loan and leases loss allowance $7,064
    Trading account assets $0
    Bank premises and fixed assets $12,684
    Other real estate owned $0
    Goodwill and other intangibles $12,844
    All other assets $34,730

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,155,805
    Total Liabilities $1,033,819
    Total deposits $926,322
    Interest-bearing deposits $758,231
    Deposits held in domestic offices $926,322
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $100,000
    Subordinated debt $0
    All other liabilities $7,497

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $580,268
    Loan and leases loss allowance $7,064
    Total loans and leases (domestic) $587,332
    All real estate loans $463,760
    Real estate loans in domestic offices $463,760
    Construction and development loans $32,709
    Residential 1-4 family construction $4,434
    Other construction, all land development and other land $28,275
    Loans secured by nonfarm nonresidential properties $155,966
    Nonfarm nonresidential secured by owner-occupied properties $99,935
    Commercial real estate & other non-farm, non-residential $56,031
    Multifamily residential real estate $51,926
    1-4 family residential loans $71,079
    Farmland loans $152,080
    Loans held in foreign offices $0
    Farm loans $57,934
    Commercial and industrial loans $54,833
    To non-U.S. addressees $0
    Loans to individuals $5,843
    Credit card loans $0
    Related Plans $93
    Consumer Auto Loans $3,538
    Other loans to individuals $2,212
    All other loans & leases $4,962
    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 $201
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Central Bank Illinois had $580,268,000 of loans outstanding in 2021. $463,760,000 of loans were in real estate loans. $32,709,000 of loans were in development loans. $51,926,000 of loans were in multifamily mortgage loans. $71,079,000 of loans were in 1-4 family mortgage loans. $57,934,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,538,000 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 331 $60,973 $184,208
    Nonfarm, nonresidential loans - <$100k 162 $7,291 $45,006
    Nonfarm, nonresidential loans - $100-250k 93 $14,629 $157,301
    Nonfarm, nonresidential loans - $250k-1MM 76 $39,053 $513,855
    Commercial & Industrial, US addressed loans - <$1MM 521 $31,090 $59,674
    Commercial & Industrial, US addressed loans - <$100k 451 $11,587 $25,692
    Commercial & Industrial, US addressed loans - $100-250k 41 $6,459 $157,537
    Commercial & Industrial, US addressed loans - $250k-1MM 29 $13,044 $449,793
    Farmland loans - <$1MM 300 $47,104 $157,013
    Farmland loans - <$100k 136 $6,579 $48,375
    Farmland loans - $100-250k 91 $15,221 $167,264
    Farmland loans - $250k-1MM 73 $25,304 $346,630
    Agriculture operations loans - <$1MM 434 $35,938 $82,806
    Agriculture operations loans - <$100k 311 $9,313 $29,945
    Agriculture operations loans - $100-250k 93 $15,307 $164,591
    Agriculture operations loans - $250k-1MM 30 $11,318 $377,267