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

2021 Data | 2020 Data | 2019 Data | 2018 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 Show all (13) awards

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

Item Value (in 000's)
Total interest income $3,333
Net interest income $2,058
Total noninterest income $7,905
Gross Fiduciary activities income $0
Service charges on deposit accounts $21
Trading account gains and fees $0
Additional Noninterest Income $7,884
Pre-tax net operating income $571
Securities gains (or losses, -) $0
Income before extraordinary items $544
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $544
Minority interest net income $0
Net income $544
Sale, conversion, retirement of capital stock, net $0
Net operating income $544

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.

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 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 26.0%
Credit card loans 0.0%
Other individual loans 26.0%
Auto loans 0.0%
Other consumer loans 26.0%
Unsecured commercial real estate loans 0.0%

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