American Commercial Bank & Trust (ACB&T) is a community-focused, full-service financial institution headquartered in Ottawa, Illinois. The bank provides a broad range of services, including commercial lending, treasury management, residential lending, personal banking, and wealth management.
See today’s mortgage interest rates on TrueRate.
How American Commercial Bank & Trust compares to other lenders
| Headquarters | Ottawa, Illinois |
| Website | acbandt.com |
| Rate | 0.20% less than the median rate |
| Lender fees | $925 (median) |
| Savings after 1 year, compared to the median interest rate | $1,004 |
| Savings after 10 years, compared to the median interest rate | $6,692 |
| Added cost after 1 year (vs. Tomo Mortgage) | $1,574 |
| Added cost after 10 years (vs. Tomo Mortgage) | $4,492 |
For a $400,000 mortgage, American Commercial Bank and Trust’s rate and lender fees result in an estimated savings of about $1,004 in the first year and around $6,692 over 10 years compared to the median lender. It’s always smart for homebuyers to explore multiple lending options, such as with Tomo Mortgage, to realize the potential for larger savings.
What customers are saying
American Commercial Bank & Trust is praised by borrowers and business clients for responsive, personalized service, with testimonials on the bank’s website describing fast closings and staff who guide customers through complex mortgage and business loan processes. Business Insider highlights the bank’s community focus and tailored solutions.
Employee reviews on Indeed reveal internal challenges, including toxic workplace dynamics, weak management, and limited advancement opportunities. Some staff and customers feel the bank has shifted from a customer-focused approach to prioritizing sales.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.