For current loan rates, please contact one of our Loan Representatives
Personal Loans
Being a community bank enables us to provide the personal service and attention that is often missing at larger banks. Our size does not limit our expertise or financial resources.
Home Equity Loan
Borrow your home's equity with the same mortgage principal and interest payment for the life of the loan. It is the ideal way to buy a new car, finance a vacation, education or other personal expense.
Home Equity Line of Credit
Today's smartest, most economical way to borrow. With a Home Equity Line of Credit, you can take full advantage of the equity you have built in your home over the years. Borrow only what you need and enjoy payments that are more affordable than ever.
Home Improvements
This loan is for anyone who would like to make improvements to their home.
Auto Loans-New & Used
For anyone 18 and over interested in buying a new or used car.
Secured Loans
Loans secured by Savings Accounts and Certificates of Deposit.
Construction Loans
Construct your new home with a construction line of credit and receive a mortgage upon completion.
Bridge Loans
Haven't sold your current home and need to close on your new home? A Bridge Loan is the perfect loan to fit your needs.
Multi Unit Residential Mortgages
This loan is for anyone interested in buying a residential property with 5 or more units.
Mortgage Loans
Fixed Rate Mortgages
The major advantage of a fixed rate mortgage is that it presents predictable housing costs for the life of the loan. Most often fixed rate mortgages are available in 15, 20 and 30 year terms.
In spite of many options in a fixed rate mortgage, the 30 year fixed rate may still be the best one for you. It offers the lowest monthly payment of fixed rate loans while providing a never changing monthly principal and interest payment schedule.
Adjustable Rate Mortgages
Adjustable rate mortgages (ARM) came about during a time of high interest rates that kept many people out of the housing market. ARMs offer lower "initial rates" by sharing future risk of higher rates between the borrower and the Lender.
ARMs can be a excellent choice of financing under certain conditions, such as rising income expectations, high interest rates and short-term ownership. Because payments and interest rates increase, either steadily or irregularly, home buyers considering this kind of mortgage needs to have the income to keep up with all possible rate and/or payment changes.
Some ARMs have fixed rate conversions options. this option allows the borrower to make their variable rate loan become a fixed rate load. there is usually a fee required for the conversion. the conversion rate may be higher than the prevailing ARM rate to compensate the Lender for the risk it takes in regards to market rates going up.
ARM Interest Rates: Initial ARM Rates will usually be lower than fixed rate loans (usually one to three percentage points lower) and will vary depending on the length of the first adjustment period. Lower initial interest rates also make ARMs somewhat easier to qualify for. The future interest rates are tied to certain economic indices's that dictate in part what the monthly payment will be.
Adjustable Interval: the time between changes in the interest rate and/or monthly payment; changes typically one, three or five years, depending on what program is selected.
Index: Economic indicator in which the Lender established their base rate before the margin is added. The most popular index is based on the rate of return on a one, three or five year Treasury Bill.
Margin: The additional amount the lender adds to the index calculates the new interest rate on an ARM. the margin is usually 2.5% to 3.0%.
To get you started and prepared for your mortgage acquisition, we have provided important information to make applying for your mortgage much easier. For additional information regarding our mortgage programs, please call a loan officer at 217-237-4324 or 217-287-7255.
Business Loans
Our most important priority is understanding your business and financial needs. Our loans are tailored to your needs and requests are answered promptly.
Equipment Loans
These loans provide funding for equipment needs to aid in a smooth operation and increased financial growth.
Real Estate Financing
We are dedicated to helping businesses finance real estate development, the construction of new facilities, additions or renovations. In addition, our mortgage programs offer competitive rates for most types of loans including new home construction, refinancing and the purchase of investment properties.
Line of Credit
A revolving line of credit provides convenient working capital assistance which match your specific cash flow requirements.
Letters of Credit
A letter assuring payment will be made, provided the terms and conditions of the letter are met.
To get you started and prepared for your business loan, we must obtain a current financial statement on both you and your business. Be prepared to submit the financial statement at the time of application.
