Midstates Bank Mortgage Rates, Fees & Info

Council Bluffs, IA

LEI: 2549002IXACRD1HE6A92

Tax ID: 42-0296630

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

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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

    Midstates Bank is a smaller bank specializing in Home Purchase and Refi loans. Midstates Bank has a high proportion of conventional loans. Their top markets by origination volume include: Omaha, Sioux City, Sioux Falls, Waterloo, and Spirit Lake among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Midstates Bank 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.

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

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    Originations

    160

    Origination Dollar Volume (All Markets)

    $23,190,000

    Employee count

    103

    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
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 88 $8,940,000 $101,591 $0 0.00%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 45 $7,545,000 $167,667 $0 0.00%
    Outside of Metro Areas 22 $4,630,000 $210,455 $0 0.00%
    SIOUX FALLS, SD (FHA|USDA|VA) 1 $565,000 $565,000 $0 0.00%
    WATERLOO-CEDAR FALLS, IA (FHA|USDA|VA) 1 $535,000 $535,000 $0 0.00%
    Spirit Lake, IA (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 2 $470,000 $235,000 $0 0.00%
    Midstates Bank's top markets include Omaha, Sioux City, Sioux Falls, Waterloo, and Spirit Lake among others.

    Their top states include:
  • Iowa (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Missouri (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 160 $23,190,000 $144,938 $0 0.00%

    For 2021, Midstates Bank's most frequently originated type of loan was Conventional, with 160 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 99 $14,285,000 $144,293 $0 0.00%
    Refi 46 $7,950,000 $172,826 $0 0.00%
    Home Improvement 13 $805,000 $61,923 $0 0.00%
    Other 2 $150,000 $75,000 $0 0.00%

    For 2021, Midstates Bank's most frequently cited loan purpose was Home Purchase, with 99 originations. The 2nd most popular reason was Refi, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 160 $23,190,000 $144,938 $0 0.00%

    For 2021, Midstates Bank's most frequently cited loan duration was Other, with 160 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 84 $5,600,000 $66,667 $0 0.00%
    $100k-200k 50 $6,570,000 $131,400 $0 0.00%
    $200k-400k 17 $4,965,000 $292,059 $0 0.00%
    $400k-600k 6 $2,940,000 $490,000 $0 0.00%
    $600k-1MM 2 $1,670,000 $835,000 $0 0.00%
    $1MM+ 1 $1,445,000 $1,445,000 $0 0.00%

    2021 saw Midstates Bank place emphasis on $100,000 or less loans with 84 originations, totaling $5,600,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 16 $1,630,000 $101,875 $0 0.00%
    $50k-75k 15 $1,395,000 $93,000 $0 0.00%
    $75k-100k 12 $1,220,000 $101,667 $0 0.00%
    $50k or less 8 $740,000 $92,500 $0 0.00%
    $250k+ 7 $835,000 $119,286 $0 0.00%
    $150k-250k 4 $450,000 $112,500 $0 0.00%

    Midstates Bank lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $50k-75k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 160 $23,190,000 $144,938 $0 0.00%

    Midstates Bank lent most frequently to those with DTI ratios of Exempt%, with 160 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 96 $16,770,000 $174,688 $0 0.00%
    White 63 $6,355,000 $100,873 $0 0.00%
    Filipino 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.75%

    Midstates Bank 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
    91.25%

    Midstates Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 160 $23,190,000 $144,938

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    160 $23,190,000 $144,938

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Midwest Loan Services, Inc. Conventional home mortgage Incorrect information on your report 1 14.3%
    Midwest Loan Services, Inc. Conventional home mortgage Struggling to pay mortgage 1 14.3%
    Midwest Loan Services, Inc. Conventional home mortgage Trouble during payment process 2 28.6%
    Midwest Loan Services, Inc. FHA mortgage Trouble during payment process 1 14.3%
    Midwest Loan Services, Inc. Other type of mortgage Closing on a mortgage 1 14.3%
    Midwest Loan Services, Inc. VA mortgage Trouble during payment process 1 14.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Midstates Bank, National Association 1 East Second Street Kingsley, IA 51028 Full Service B&M $81,280
    Midstates Bank, National Association 103 Maple St Mondamin, IA 51557 Full Service B&M $7,999
    Midstates Bank, National Association 1851 Madison Avenue, Suite 732 Council Bluffs, IA 51503 Full Service B&M $54,839
    Midstates Bank, National Association 206 N Elm Street Avoca, IA 51521 Full Service B&M $70,553
    Midstates Bank, National Association 300 Front Street Neola, IA 51559 Full Service B&M $57,283
    Midstates Bank, National Association 301 Broadway Minden, IA 51553 Full Service B&M $6,365
    Midstates Bank, National Association 321 East Erie Street Missouri Valley, IA 51555 Full Service B&M $71,992
    Midstates Bank, National Association 35 Main Place, Suite 50 Council Bluffs, IA 51503 Full Service B&M $4,769
    Midstates Bank, National Association 705 1st Street Sergeant Bluff, IA 51054 Full Service B&M $31,931
    Midstates Bank, National Association 812 Durant Street Harlan, IA 51537 Full Service B&M $128,432
    Midstates Bank, National Association 850 12th Street, Sw Le Mars, IA 51031 Full Service B&M $31,931

    For 2021, Midstates Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,586
    Net interest income $21,133
    Total noninterest income $3,077
    Gross Fiduciary activities income $436
    Service charges on deposit accounts $621
    Trading account gains and fees $0
    Additional Noninterest Income $2,020
    Pre-tax net operating income $7,103
    Securities gains (or losses, -) $530
    Income before extraordinary items $7,250
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,250
    Minority interest net income $0
    Net income $7,250
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,746

    Midstates Bank's gross interest income from loans was $22,586,000.
    Midstates Bank's net interest income from loans was $21,133,000.
    Midstates Bank's fee based income from loans was $621,000.
    Midstates Bank's net income from loans was $7,250,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,453
    Provision for credit losses $1,711
    Total noninterest expense $15,396
    Salaries and employee benefits $8,540
    Premises and equipment expense $1,997
    Additional noninterest expense $4,859
    Applicable income taxes $383
    Net charge-offs $2,029
    Cash dividends $3,400

    Midstates Bank's interest expense for loans was $1,453,000.
    Midstates Bank's payroll and benefits expense were $8,540,000.
    Midstates Bank's property, plant and equipment expenses $1,997,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 3.0%
    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 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $561,188
    Deposits held in domestic offices $561,188
    Deposits by Individuals, partnerships, and corporations $492,592
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $68,595
    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 $309,081
    Demand deposits $143,829
    Nontransaction accounts $252,107
    Money market deposit accounts (MMDAs) $94,843
    Other savings deposits (excluding MMDAs) $68,930
    Total time deposits $88,334
    Total time and savings deposits $417,359
    Noninterest-bearing deposits $143,829
    Interest-bearing deposits $417,359
    Retail deposits $544,507
    IRAs and Keogh plan accounts $12,593
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $650,335
    Cash & Balances due from depository institutions $14,510
    Interest-bearing balances $1,086
    Total securities $277,318
    Federal funds sold & reverse repurchase $0
    Net loans and leases $335,602
    Loan and leases loss allowance $7,798
    Trading account assets $0
    Bank premises and fixed assets $6,568
    Other real estate owned $20
    Goodwill and other intangibles $7,788
    All other assets $8,529

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $650,335
    Total Liabilities $586,078
    Total deposits $561,188
    Interest-bearing deposits $417,359
    Deposits held in domestic offices $561,188
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $22,797
    Subordinated debt $0
    All other liabilities $2,093

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $335,602
    Loan and leases loss allowance $7,798
    Total loans and leases (domestic) $343,400
    All real estate loans $211,662
    Real estate loans in domestic offices $211,662
    Construction and development loans $9,620
    Residential 1-4 family construction $4,805
    Other construction, all land development and other land $4,815
    Loans secured by nonfarm nonresidential properties $44,575
    Nonfarm nonresidential secured by owner-occupied properties $31,375
    Commercial real estate & other non-farm, non-residential $13,200
    Multifamily residential real estate $18,964
    1-4 family residential loans $57,213
    Farmland loans $81,290
    Loans held in foreign offices $0
    Farm loans $82,756
    Commercial and industrial loans $30,340
    To non-U.S. addressees $0
    Loans to individuals $3,248
    Credit card loans $0
    Related Plans $56
    Consumer Auto Loans $1,716
    Other loans to individuals $1,476
    All other loans & leases $15,428
    Loans to foreign governments and official institutions $0
    Other loans $133
    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 $4,482
    Non 1-4 family restructured loans & leases $4,482
    Total loans and leases (foreign) $0

    Midstates Bank had $335,602,000 of loans outstanding in 2021. $211,662,000 of loans were in real estate loans. $9,620,000 of loans were in development loans. $18,964,000 of loans were in multifamily mortgage loans. $57,213,000 of loans were in 1-4 family mortgage loans. $82,756,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,716,000 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 133 $44,575 $335,150
    Nonfarm, nonresidential loans - <$100k 39 $1,622 $41,590
    Nonfarm, nonresidential loans - $100-250k 44 $5,525 $125,568
    Nonfarm, nonresidential loans - $250k-1MM 50 $37,428 $748,560
    Commercial & Industrial, US addressed loans - <$1MM 322 $30,340 $94,224
    Commercial & Industrial, US addressed loans - <$100k 230 $5,112 $22,226
    Commercial & Industrial, US addressed loans - $100-250k 46 $4,387 $95,370
    Commercial & Industrial, US addressed loans - $250k-1MM 46 $20,841 $453,065
    Farmland loans - <$1MM 145 $22,285 $153,690
    Farmland loans - <$100k 34 $1,365 $40,147
    Farmland loans - $100-250k 52 $6,519 $125,365
    Farmland loans - $250k-1MM 59 $14,401 $244,085
    Agriculture operations loans - <$1MM 441 $28,496 $64,617
    Agriculture operations loans - <$100k 286 $7,812 $27,315
    Agriculture operations loans - $100-250k 97 $10,528 $108,536
    Agriculture operations loans - $250k-1MM 58 $10,156 $175,103