Fidelity Bank Mortgage Rates, Fees & Info
West Des Moines, IA
LEI: 254900ALCPGGRYFG8I88
Tax ID: 42-0166023
5 stars
-
out of 5 stars, based on 41 reviews
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Mortgage Data
Bank Data
Overview
Fidelity Bank is a
smaller
bank
specializing in
Home Purchase and Refi loans.
Fidelity Bank has a high proportion of conventional loans.
They have an average proportion of FHA loans.
They have a low ratio of USDA loans.
Their top markets include Des Moines, Ames, and Kansas City among others. Fidelity Bank has
an above average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Fidelity Bank is typically
an average fee
lendor.
Originations
1,684
Origination Dollar Volume (All Markets)
$386,340,000
Employee count
45
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Fidelity Bank - 2021
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Relative Rate
Fidelity Bank's average 30 year fixed rate mortgage of loans were
2.77%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.38%.
Relative Fees
Fidelity Bank's average total fees for a 30 year fixed rate
mortgage are $3,419.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
|
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA)
|
1,391
|
$312,585,000 |
$224,720 |
$3,176 |
2.75% |
|
Outside of Metro Areas
|
253 |
$65,435,000 |
$258,636 |
$3,329 |
2.66% |
|
AMES, IA (FHA|USDA|VA)
|
39
|
$7,755,000 |
$198,846 |
$2,939 |
2.70% |
|
KANSAS CITY, MO-KS (FHA|USDA|VA)
|
1
|
$565,000 |
$565,000 |
$0 |
5.25% |
Fidelity Bank's top markets include Des Moines, Ames, and Kansas City among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
1,323 |
$305,295,000 |
$230,760 |
$2,422 |
2.79% |
| FHA |
263 |
$55,325,000 |
$210,361 |
$6,062 |
2.59% |
| VA |
80 |
$23,010,000 |
$287,625 |
$5,209 |
2.39% |
| USDA |
18 |
$2,710,000 |
$150,556 |
$3,767 |
2.60% |
For the 2021 period, Fidelity Bank's most frequently
originated loan type
of loans were Conventional, with 1,323 originations.
Their 2nd most popular type is FHA,
with 263 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Home Purchase |
957 |
$224,365,000 |
$234,446 |
$3,891 |
2.81% |
| Refi |
519 |
$116,395,000 |
$224,268 |
$2,131 |
2.58% |
| Cash Out Refi |
199 |
$43,705,000 |
$219,623 |
$2,541 |
2.80% |
| Other |
6 |
$1,220,000 |
$203,333 |
$2,839 |
3.15% |
| Home Improvement |
3 |
$655,000 |
$218,333 |
$2,351 |
3.75% |
For the 2021, Fidelity Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 957
originations.
The 2nd most popular reason of loans were Refi,
with 519 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 30 Year |
1,401 |
$329,325,000 |
$235,064 |
$3,419 |
2.77% |
| 15 Year |
175 |
$35,465,000 |
$202,657 |
$2,096 |
2.23% |
| 20 Year |
50 |
$11,970,000 |
$239,400 |
$2,057 |
2.54% |
| Other |
33 |
$6,025,000 |
$182,576 |
$1,403 |
4.15% |
| 1 Year |
13 |
$1,845,000 |
$141,923 |
$2,666 |
4.44% |
| 10 Year |
12 |
$1,710,000 |
$142,500 |
$1,901 |
2.08% |
For the 2021, Fidelity Bank's most frequently cited loan
length
of loans were 30 Year, with 1,401 originations.
The 2nd most popular length of loans were 15 Year,
with 175 originations.
Origination Fees
| Origination Fee |
Originations |
Total Value |
Average Loan |
| $<1k |
1,354 |
$320,040,000 |
$236,366 |
| $1k-2k |
142 |
$28,870,000 |
$203,310 |
| $2k-3k |
43 |
$12,205,000 |
$283,837 |
| $3k-4k |
15 |
$5,525,000 |
$368,333 |
| $5k+ |
2 |
$950,000 |
$475,000 |
$3,419 of loans were Fidelity Bank's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 1,354 originations.
Interest Rates
| Loan Rate |
Originations |
Total Value |
Average Loan |
| 2.5-3% |
784 |
$183,790,000 |
$234,426 |
| <2.5% |
654 |
$151,400,000 |
$231,498 |
| 3-4% |
203 |
$44,585,000 |
$219,631 |
| 4-5% |
39 |
$5,335,000 |
$136,795 |
| 5-6% |
3 |
$1,125,000 |
$375,000 |
| 6-7% |
1 |
$105,000 |
$105,000 |
During 2021, Fidelity Bank's average interest
rate of loans were 2.77%, while their
most frequently originated rate bucket of loans were 2.5-3%,
with 784 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $200k-400k |
784 |
$214,860,000 |
$274,056 |
$3,482 |
2.70% |
| $100k-200k |
680 |
$104,210,000 |
$153,250 |
$2,810 |
2.75% |
| $400k-600k |
120 |
$57,830,000 |
$481,917 |
$3,716 |
2.76% |
| $100,000 or less |
98 |
$8,010,000 |
$81,735 |
$2,108 |
2.98% |
| $600k-1MM |
2 |
$1,430,000 |
$715,000 |
$10,375 |
2.88% |
2021 saw Fidelity Bank place emphasis on
$200k-400k loans
with 784 originations, totaling
$214,860,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $50k-75k |
434 |
$85,940,000 |
$198,018 |
$3,443 |
2.70% |
| $100k-150k |
328 |
$89,020,000 |
$271,402 |
$3,076 |
2.73% |
| $50k or less |
302 |
$48,520,000 |
$160,662 |
$3,476 |
2.70% |
| $75k-100k |
298 |
$69,130,000 |
$231,980 |
$3,289 |
2.74% |
| $150k-250k |
210 |
$62,110,000 |
$295,762 |
$2,512 |
2.73% |
| $250k+ |
77 |
$23,685,000 |
$307,597 |
$2,673 |
3.01% |
Fidelity Bank lent most frequently to those with incomes in the
$50k-75k range, with
434 originations.
The second most popular income band? $100k-150k,
with 328 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-30% |
373 |
$87,255,000 |
$233,928 |
$2,807 |
2.70% |
| 30-36% |
289 |
$66,195,000 |
$229,048 |
$3,128 |
2.80% |
| <20% |
184 |
$41,350,000 |
$224,728 |
$2,147 |
2.69% |
| 50-60% |
93 |
$20,045,000 |
$215,538 |
$5,733 |
2.58% |
| 38% |
70 |
$15,140,000 |
$216,286 |
$2,737 |
2.79% |
| 44% |
64 |
$14,310,000 |
$223,594 |
$3,605 |
2.75% |
| 43% |
61 |
$15,515,000 |
$254,344 |
$3,398 |
2.83% |
| 41% |
61 |
$13,265,000 |
$217,459 |
$3,075 |
2.78% |
| 42% |
56 |
$13,350,000 |
$238,393 |
$2,893 |
2.77% |
| 39% |
55 |
$12,255,000 |
$222,818 |
$3,192 |
2.75% |
| 37% |
55 |
$12,345,000 |
$224,455 |
$3,472 |
2.76% |
| 45% |
48 |
$10,660,000 |
$222,083 |
$3,677 |
2.77% |
| 36% |
48 |
$10,190,000 |
$212,292 |
$3,665 |
2.75% |
| 49% |
41 |
$10,265,000 |
$250,366 |
$4,129 |
2.80% |
| 40% |
40 |
$9,360,000 |
$234,000 |
$2,801 |
2.63% |
| 47% |
34 |
$8,750,000 |
$257,353 |
$3,311 |
2.61% |
| 48% |
34 |
$8,000,000 |
$235,294 |
$3,678 |
2.72% |
| 46% |
31 |
$7,115,000 |
$229,516 |
$3,614 |
2.75% |
| >60% |
4 |
$830,000 |
$207,500 |
$7,702 |
3.13% |
Fidelity Bank lent most frequently to those with DTI ratios
of 20-30%, with
373 originations.
The next most common DTI ratio? 30-36%,
with 289 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
1,310 |
$293,390,000 |
$223,962 |
$3,108 |
2.72% |
| Not provided |
249 |
$64,235,000 |
$257,972 |
$3,336 |
2.73% |
| Black |
52 |
$12,300,000 |
$236,538 |
$4,814 |
2.77% |
| Asian |
37 |
$7,925,000 |
$214,189 |
$2,891 |
2.68% |
| Not applicable |
15 |
$2,595,000 |
$173,000 |
$0 |
4.38% |
| Asian Indian |
6 |
$2,520,000 |
$420,000 |
$4,188 |
2.54% |
| Other Pacific Islander |
3 |
$1,015,000 |
$338,333 |
$1,916 |
3.29% |
| American Indian |
6 |
$1,000,000 |
$166,667 |
$4,623 |
2.69% |
| Other Asian |
3 |
$615,000 |
$205,000 |
$2,553 |
2.88% |
| Filipino |
2 |
$410,000 |
$205,000 |
$2,510 |
2.69% |
| Native Hawaiian |
1 |
$335,000 |
$335,000 |
$1,596 |
2.25% |
Approval Rates
Total approvals of all applications
98.97%
Fidelity 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
86.14%
Fidelity Bank has an average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| NA |
1,684 |
$386,340,000 |
$229,418 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
1,684 |
$386,340,000 |
$229,418 |
LTV Distribution
| Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-40% |
43 |
$8,405,000 |
$195,465 |
$2,183 |
2.52% |
| 40-60% |
166 |
$30,880,000 |
$186,024 |
$1,975 |
2.57% |
| 60-80% |
580 |
$138,770,000 |
$239,259 |
$2,231 |
2.82% |
| 80-100% |
844 |
$194,430,000 |
$230,367 |
$3,881 |
2.74% |
| Over 100% |
19 |
$6,295,000 |
$331,316 |
$11,407 |
2.53% |
| Under 20% |
6 |
$450,000 |
$75,000 |
$923 |
4.15% |
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| Fidelity National Financial, Inc |
VA mortgage |
Closing on a mortgage |
1 |
4.5% |
| Fidelity National Financial, Inc |
Conventional home mortgage |
Applying for a mortgage or refinancing an existing mortgage |
2 |
9.1% |
| Fidelity National Financial, Inc |
Conventional home mortgage |
Closing on a mortgage |
11 |
50.0% |
| Fidelity National Financial, Inc |
Conventional home mortgage |
Struggling to pay mortgage |
1 |
4.5% |
| Fidelity National Financial, Inc |
Conventional home mortgage |
Trouble during payment process |
2 |
9.1% |
| Fidelity National Financial, Inc |
FHA mortgage |
Closing on a mortgage |
2 |
9.1% |
| Fidelity National Financial, Inc |
Other type of mortgage |
Closing on a mortgage |
1 |
4.5% |
| Fidelity National Financial, Inc |
Other type of mortgage |
Struggling to pay mortgage |
2 |
9.1% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Fidelity Bank |
102 National Drive Huxley, IA 50124 |
Full Service B&M
|
$23,616 |
| Fidelity Bank |
177 South Jordan Creek Parkway West Des Moines, IA 50266 |
Full Service B&M
|
$25,495 |
| Fidelity Bank |
205 Water Street Cambridge, IA 50046 |
Full Service B&M
|
$8,556 |
For 2021, Fidelity Bank had 3 branches.
Yearly Performance Overview
Bank Income
Fidelity Bank's gross interest income from loans was $3,333,000.
Fidelity Bank's net interest income from loans was $2,058,000.
Fidelity Bank's fee based income from loans was $21,000.
Fidelity Bank's net income from loans was $544,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$1,275 |
| Provision for credit losses |
$0 |
| Total noninterest expense |
$9,392 |
| Salaries and employee benefits |
$7,584 |
| Premises and equipment expense |
$477 |
| Additional noninterest expense |
$1,331 |
| Applicable income taxes |
$27 |
| Net charge-offs |
$0 |
| Cash dividends |
$2,520 |
Fidelity Bank's interest expense for loans was $1,275,000.
Fidelity Bank's payroll and benefits expense were $7,584,000.
Fidelity Bank's property, plant and equipment expenses $477,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$50,276 |
| Deposits held in domestic offices |
$50,276 |
| Deposits by Individuals, partnerships, and corporations |
$46,393 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$2,887 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$996 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$20,297 |
| Demand deposits |
$20,297 |
| Nontransaction accounts |
$29,979 |
| Money market deposit accounts (MMDAs) |
$14,785 |
| Other savings deposits (excluding MMDAs) |
$4,954 |
| Total time deposits |
$10,240 |
| Total time and savings deposits |
$29,979 |
| Noninterest-bearing deposits |
$12,948 |
| Interest-bearing deposits |
$37,328 |
| Retail deposits |
$46,038 |
| IRAs and Keogh plan accounts |
$0 |
| Brokered deposits |
$3,000 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$76,273 |
| Cash & Balances due from depository institutions |
$8,697 |
| Interest-bearing balances |
$6,193 |
| Total securities |
$1,533 |
| Federal funds sold & reverse repurchase |
$0 |
| Net loans and leases |
$58,204 |
| Loan and leases loss allowance |
$720 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$2,800 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$1,690 |
| All other assets |
$3,349 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$76,273 |
| Total Liabilities |
$64,906 |
| Total deposits |
$50,276 |
| Interest-bearing deposits |
$37,328 |
| Deposits held in domestic offices |
$50,276 |
| % insured (estimated) |
$94 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$13,963 |
| Subordinated debt |
$0 |
| All other liabilities |
$667 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$58,204 |
| Loan and leases loss allowance |
$720 |
| Total loans and leases (domestic) |
$58,924 |
| All real estate loans |
$57,126 |
| Real estate loans in domestic offices |
$57,126 |
| Construction and development loans |
$19,848 |
| Residential 1-4 family construction |
$16,403 |
| Other construction, all land development and other land |
$3,445 |
| Loans secured by nonfarm nonresidential properties |
$2,685 |
| Nonfarm nonresidential secured by owner-occupied properties |
$1,647 |
| Commercial real estate & other non-farm, non-residential |
$1,038 |
| Multifamily residential real estate |
$793 |
| 1-4 family residential loans |
$33,427 |
| Farmland loans |
$373 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$485 |
| Commercial and industrial loans |
$979 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$332 |
| Credit card loans |
$0 |
| Related Plans |
$0 |
| Consumer Auto Loans |
$0 |
| Other loans to individuals |
$332 |
| All other loans & leases |
$2 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$2 |
| 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 |
Fidelity Bank had $58,204,000 of loans outstanding in 2021. $57,126,000 of loans were in real estate loans.
$19,848,000 of loans were in development loans. $793,000 of loans were in multifamily mortgage loans.
$33,427,000 of loans were in 1-4 family mortgage loans. $485,000 of loans were in farm loans. $0
of loans were in credit card loans. $0 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 |
11 |
$2,684 |
$244,000 |
| Nonfarm, nonresidential loans - <$100k |
2 |
$167 |
$83,500 |
| Nonfarm, nonresidential loans - $100-250k |
3 |
$544 |
$181,333 |
| Nonfarm, nonresidential loans - $250k-1MM |
6 |
$1,973 |
$328,833 |
| Commercial & Industrial, US addressed loans - <$1MM |
9 |
$979 |
$108,778 |
| Commercial & Industrial, US addressed loans - <$100k |
3 |
$78 |
$26,000 |
| Commercial & Industrial, US addressed loans - $100-250k |
5 |
$561 |
$112,200 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
1 |
$340 |
$340,000 |
| Farmland loans - <$1MM |
4 |
$373 |
$93,250 |
| Farmland loans - <$100k |
2 |
$95 |
$47,500 |
| Farmland loans - $100-250k |
2 |
$278 |
$139,000 |
| Agriculture operations loans - <$1MM |
2 |
$115 |
$57,500 |
| Agriculture operations loans - <$100k |
2 |
$115 |
$57,500 |
