Fidelity Bank Mortgage Rates, Fees & Info

West Des Moines, IA

LEI: 254900ALCPGGRYFG8I88

Tax ID: 42-0166023

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

Review & Overview

Fidelity Bank is a smaller bank specializing in Home Purchase 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 by origination volume include: Des Moines, Ames, and Pella among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

Fidelity 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. Fidelity Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.53%	4/14/24
30 Year Conventional Refi	6.31%	4/14/24
30 Year Cash-out Refi	6.60%	4/14/24
30 Year FHA Purchase	7.03%	4/14/24
30 Year FHA Refi	6.27%	4/14/24
30 Year VA Purchase	6.18%	4/14/24
30 Year USDA Purchase	6.57%	4/14/24
15 Year Conventional Purchase	5.80%	4/14/24
15 Year Conventional Refi	6.03%	4/14/24
15 Year Cash-out Refi	6.03%	4/14/24
15 Year VA Purchase	6.40%	4/14/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Fidelity Bank Mortgage Calculator

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This is not an official calculator from Fidelity Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

954

Origination Dollar Volume (All Markets)

$211,760,000

Employee count

Awards

Show all (7) awards

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
DES MOINES-WEST DES MOINES, IA (FHA\|USDA\|VA)	685	$136,775,000	$199,672	$3,471	4.60%
Outside of Metro Areas	255	$72,525,000	$284,412	$4,389	4.40%
AMES, IA (FHA\|USDA\|VA)	13	$2,275,000	$175,000	$2,547	4.67%
Pella, IA (FHA\|USDA\|VA)	1	$185,000	$185,000	$2,825	5.50%

Fidelity Bank's top markets include Des Moines, Ames, and Pella among others.

Their top states include:

Iowa (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Fidelity Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Charter Bank
Similarity Rank: 36

Raccoon Valley Bank
Similarity Rank: 96

Guthrie County State Bank
Similarity Rank: 166

Community Choice Credit Union
Similarity Rank: 187

Collins Community Credit Union
Similarity Rank: 273

Luana Savings Bank
Similarity Rank: 289

GREATER IOWA CREDIT UNION
Similarity Rank: 374

Fidelity Bank
Similarity Rank: 428

Premier Credit Union
Similarity Rank: 450

American Trust & Savings Bank
Similarity Rank: 486

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	596	$127,380,000	$213,725	$2,715	4.65%
FHA	189	$33,805,000	$178,862	$5,272	4.56%
VA	151	$47,385,000	$313,808	$5,474	4.13%
USDA	18	$3,190,000	$177,222	$3,831	4.37%

For 2018, Fidelity Bank's most frequently originated type of loan was Conventional, with 596 originations. Their 2nd most popular type was FHA, with 189 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	782	$172,690,000	$220,831	$3,900	4.55%
Refi	85	$19,655,000	$231,235	$2,370	4.54%
Cash Out Refi	85	$19,115,000	$224,882	$3,321	4.54%
Home Improvement	1	$285,000	$285,000	$2,631	5.25%
Other	1	$15,000	$15,000	$440	6.50%

For 2018, Fidelity Bank's most frequently cited loan purpose was Home Purchase, with 782 originations. The 2nd most popular reason was Refi, with 85 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	856	$195,780,000	$228,715	$3,822	4.53%
15 Year	51	$9,165,000	$179,706	$2,642	4.07%
Other	33	$4,955,000	$150,152	$1,958	5.67%
20 Year	8	$1,010,000	$126,250	$2,371	4.36%
10 Year	3	$305,000	$101,667	$1,959	4.44%
1 Year	2	$490,000	$245,000	$0	6.00%
3 Year	1	$55,000	$55,000	$0	6.25%

For 2018, Fidelity Bank's most frequently cited loan duration was 30 Year, with 856 originations. The 2nd most popular length was 15 Year, with 51 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	778	$173,660,000	$223,213
$1k-2k	108	$19,840,000	$183,704
$2k-3k	28	$8,240,000	$294,286
$3k-4k	13	$3,275,000	$251,923
$4k-5k	8	$2,830,000	$353,750
$5k+	3	$1,865,000	$621,667

Fidelity Bank's average total fees were $3,822, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 778 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	703	$150,825,000	$214,545
3-4%	150	$44,860,000	$299,067
5-6%	88	$15,070,000	$171,250
6-7%	11	$995,000	$90,455

During 2018, Fidelity Bank's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 703 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	389	$108,615,000	$279,216	$4,224	4.45%
$100k-200k	374	$55,900,000	$149,465	$3,191	4.62%
$100,000 or less	110	$8,150,000	$74,091	$2,458	4.83%
$400k-600k	69	$30,935,000	$448,333	$3,947	4.37%
$600k-1MM	12	$8,160,000	$680,000	$11,453	3.97%

2018 saw Fidelity Bank place emphasis on $200k-400k loans with 389 originations, totaling $108,615,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	235	$44,405,000	$188,957	$3,789	4.53%
$50k or less	208	$28,980,000	$139,327	$3,000	4.58%
$100k-150k	195	$56,265,000	$288,538	$4,333	4.47%
$75k-100k	167	$38,875,000	$232,784	$3,789	4.58%
$150k-250k	96	$29,600,000	$308,333	$3,886	4.43%
$250k+	41	$11,795,000	$287,683	$2,941	4.67%

Fidelity Bank lent most frequently to those with incomes in the $50k-75k range, with 235 originations. The second most popular income band? $50k or less, with 208 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	153	$31,775,000	$207,680	$3,073	4.56%
30-36%	149	$32,395,000	$217,416	$3,374	4.50%
50-60%	99	$25,885,000	$261,465	$5,242	4.36%
<20%	48	$10,920,000	$227,500	$2,973	4.48%
39%	44	$9,940,000	$225,909	$4,560	4.53%
42%	42	$9,360,000	$222,857	$3,837	4.53%
37%	40	$7,670,000	$191,750	$3,363	4.71%
41%	38	$7,920,000	$208,421	$4,694	4.55%
40%	36	$7,980,000	$221,667	$4,116	4.57%
47%	35	$7,205,000	$205,857	$4,277	4.52%
48%	34	$6,030,000	$177,353	$3,519	4.69%
44%	34	$7,900,000	$232,353	$3,866	4.57%
43%	33	$7,065,000	$214,091	$3,340	4.67%
49%	32	$8,330,000	$260,313	$3,795	4.63%
38%	32	$6,950,000	$217,188	$3,304	4.53%
46%	31	$7,105,000	$229,194	$3,046	4.64%
36%	26	$5,460,000	$210,000	$3,840	4.41%
45%	21	$4,615,000	$219,762	$3,257	4.64%
>60%	6	$2,180,000	$363,333	$4,718	4.50%

Fidelity Bank lent most frequently to those with DTI ratios of 20-30%, with 153 originations. The next most common DTI ratio? 30-36%, with 149 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	746	$161,960,000	$217,105	$3,677	4.57%
Not provided	147	$37,715,000	$256,565	$3,827	4.37%
Asian	28	$5,640,000	$201,429	$3,182	4.58%
Black	17	$3,855,000	$226,765	$4,604	4.56%
American Indian	6	$1,530,000	$255,000	$3,975	4.56%
Not applicable	8	$850,000	$106,250	$0	5.78%
Other Asian	1	$105,000	$105,000	$3,782	4.63%
Asian Indian	1	$105,000	$105,000	$3,071	4.50%

Approval Rates

Total approvals of all applications
98.85%

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
91.93%

Fidelity Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	954	$211,760,000	$221,971

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	4	$1,060,000	$265,000
Single Family (1-4 Units):Manufactured	5	$615,000	$123,000
Single Family (1-4 Units):Site-Built	945	$210,085,000	$222,312

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	14	$2,040,000	$145,714	$2,015	4.60%
40-60%	50	$9,700,000	$194,000	$2,267	4.37%
60-80%	237	$51,395,000	$216,857	$2,566	4.70%
80-100%	618	$138,320,000	$223,819	$3,961	4.51%
Over 100%	32	$10,180,000	$318,125	$10,318	4.35%
Under 20%	3	$125,000	$41,667	$533	5.00%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
Fidelity Direct Mortgage, LLC	Conventional home mortgage	Closing on a mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
FIDELITY BANK	102 National Drive Huxley, IA 50124	Full Service B&M	$33,611
FIDELITY BANK	177 South Jordan Creek Parkway West Des Moines, IA 50266	Full Service B&M	$15,111
FIDELITY BANK	205 Water Street Cambridge, IA 50046	Full Service B&M	$6,125

For 2018, Fidelity Bank had 3 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$3,681
Net interest income	$2,881
Total noninterest income	$4,549
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$34
Trading account gains and fees	$0
Additional Noninterest Income	$4,515
Pre-tax net operating income	$-260
Securities gains (or losses, -)	$0
Income before extraordinary items	$-248
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$-248
Minority interest net income	$0
Net income	$-248
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$-248

Fidelity Bank's gross interest income from loans was $3,681,000.
Fidelity Bank's net interest income from loans was $2,881,000.
Fidelity Bank's fee based income from loans was $34,000.
Fidelity Bank's net income from loans was $-248,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$800
Provision for credit losses	$0
Total noninterest expense	$7,690
Salaries and employee benefits	$5,809
Premises and equipment expense	$518
Additional noninterest expense	$1,363
Applicable income taxes	$-12
Net charge-offs	$0
Cash dividends	$500

Fidelity Bank's interest expense for loans was $800,000.
Fidelity Bank's payroll and benefits expense were $5,809,000.
Fidelity Bank's property, plant and equipment expenses $518,000.

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	1.0%
HELOC loans	0.0%
All other family	1.0%
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	$56,052
Deposits held in domestic offices	$56,052
Deposits by Individuals, partnerships, and corporations	$35,885
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$9,109
Deposits by Commercial banks and other depository institutions in U.S.	$11,058
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$12,732
Demand deposits	$10,844
Nontransaction accounts	$43,320
Money market deposit accounts (MMDAs)	$10,920
Other savings deposits (excluding MMDAs)	$3,971
Total time deposits	$28,429
Total time and savings deposits	$45,208
Noninterest-bearing deposits	$8,284
Interest-bearing deposits	$47,768
Retail deposits	$52,910
IRAs and Keogh plan accounts	$360
Brokered deposits	$750
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$84,253
Cash & Balances due from depository institutions	$3,091
Interest-bearing balances	$1,538
Total securities	$3,467
Federal funds sold & reverse repurchase	$0
Net loans and leases	$69,855
Loan and leases loss allowance	$680
Trading account assets	$0
Bank premises and fixed assets	$3,072
Other real estate owned	$20
Goodwill and other intangibles	$1,690
All other assets	$3,058

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$84,253
Total Liabilities	$74,731
Total deposits	$56,052
Interest-bearing deposits	$47,768
Deposits held in domestic offices	$56,052
% insured (estimated)	$91
Federal funds purchased and repurchase agreements	$6,328
Trading liabilities	$0
Other borrowed funds	$11,626
Subordinated debt	$0
All other liabilities	$725

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$69,855
Loan and leases loss allowance	$680
Total loans and leases (domestic)	$70,535
All real estate loans	$69,106
Real estate loans in domestic offices	$69,106
Construction and development loans	$21,556
Residential 1-4 family construction	$19,189
Other construction, all land development and other land	$2,367
Loans secured by nonfarm nonresidential properties	$3,678
Nonfarm nonresidential secured by owner-occupied properties	$1,254
Commercial real estate & other non-farm, non-residential	$2,424
Multifamily residential real estate	$1,486
1-4 family residential loans	$41,223
Farmland loans	$1,163
Loans held in foreign offices	$0
Farm loans	$779
Commercial and industrial loans	$425
To non-U.S. addressees	$0
Loans to individuals	$192
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$75
Other loans to individuals	$117
All other loans & leases	$33
Loans to foreign governments and official institutions	$0
Other loans	$33
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 $69,855,000 of loans outstanding in 2018. $69,106,000 of loans were in real estate loans. $21,556,000 of loans were in development loans. $1,486,000 of loans were in multifamily mortgage loans. $41,223,000 of loans were in 1-4 family mortgage loans. $779,000 of loans were in farm loans. $0 of loans were in credit card loans. $75,000 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	12	$2,584	$215,333
Nonfarm, nonresidential loans - <$100k	3	$79	$26,333
Nonfarm, nonresidential loans - $100-250k	3	$357	$119,000
Nonfarm, nonresidential loans - $250k-1MM	6	$2,148	$358,000
Commercial & Industrial, US addressed loans - <$1MM	6	$425	$70,833
Commercial & Industrial, US addressed loans - <$100k	2	$55	$27,500
Commercial & Industrial, US addressed loans - $100-250k	3	$196	$65,333
Commercial & Industrial, US addressed loans - $250k-1MM	1	$174	$174,000
Farmland loans - <$1MM	7	$1,163	$166,143
Farmland loans - <$100k	2	$109	$54,500
Farmland loans - $100-250k	2	$95	$47,500
Farmland loans - $250k-1MM	3	$959	$319,667
Agriculture operations loans - <$1MM	4	$179	$44,750
Agriculture operations loans - <$100k	4	$179	$44,750