Fidelity Bank Mortgage Rates, Fees & Info
West Des Moines, IALEI: 254900ALCPGGRYFG8I88
Tax ID: 42-0166023
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Mortgage Data
Bank Data
Review & 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 by origination volume include: Des Moines, Ames, and Mason City 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 a below 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.53% | 9/1/24 |
30 Year Conventional Refi | 6.31% | 9/1/24 |
30 Year Cash-out Refi | 6.60% | 9/1/24 |
30 Year FHA Purchase | 7.03% | 9/1/24 |
30 Year FHA Refi | 6.27% | 9/1/24 |
30 Year VA Purchase | 6.18% | 9/1/24 |
30 Year USDA Purchase | 6.57% | 9/1/24 |
15 Year Conventional Purchase | 5.80% | 9/1/24 |
15 Year Conventional Refi | 6.03% | 9/1/24 |
15 Year Cash-out Refi | 6.03% | 9/1/24 |
15 Year VA Purchase | 6.40% | 9/1/24 |
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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,197Origination Dollar Volume (All Markets)
$254,705,000Employee count
49 Show all (11) awardsFidelity Bank - 2019
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For 2019, less than of lenders were eligible for this award.
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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) | 1,007 | $212,805,000 | $211,326 | $3,358 | 3.99% |
Outside of Metro Areas | 168 | $38,530,000 | $229,345 | $3,638 | 3.94% |
AMES, IA (FHA|USDA|VA) | 21 | $3,285,000 | $156,429 | $3,325 | 4.25% |
Mason City, IA (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $1,773 | 6.00% |
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.
Similarity Rank: 63
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Similarity Rank: 1008
Product Mix
For 2019, Fidelity Bank's most frequently originated type of loan was Conventional, with 786 originations. Their 2nd most popular type was FHA, with 311 originations.
Loan Reason
For 2019, Fidelity Bank's most frequently cited loan purpose was Home Purchase, with 831 originations. The 2nd most popular reason was Refi, with 268 originations.
Loan Duration/Length
For 2019, Fidelity Bank's most frequently cited loan duration was 30 Year, with 1,071 originations. The 2nd most popular length was 15 Year, with 75 originations.
Origination Fees/Closing Costs
Fidelity Bank's average total fees were $3,532, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 931 originations.
Interest Rates
During 2019, Fidelity Bank's average interest rate for loans was 3.97%, while their most frequently originated rate bucket for loans was 3-4%, with 756 originations.
Loan Sizing
2019 saw Fidelity Bank place emphasis on $100k-200k loans with 528 originations, totaling $80,510,000 in origination value.
Applicant Income
Fidelity Bank lent most frequently to those with incomes in the $50k-75k range, with 302 originations. The second most popular income band? $50k or less, with 275 originations.
Applicant Debt to Income Ratio
Fidelity Bank lent most frequently to those with DTI ratios of 20-30%, with 234 originations. The next most common DTI ratio? 30-36%, with 213 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.41%
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 origination87.80%
Fidelity Bank has an average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 1,197 | $254,705,000 | $212,786 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Single Family (1-4 Units):Manufactured | 9 | $1,615,000 | $179,444 |
Single Family (1-4 Units):Site-Built | 1,188 | $253,090,000 | $213,039 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
Fidelity National Financial, Inc | Reverse mortgage | Trouble during payment process | 1 | 11.1% |
Fidelity National Financial, Inc | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 11.1% |
Fidelity National Financial, Inc | Conventional home mortgage | Closing on a mortgage | 2 | 22.2% |
Fidelity National Financial, Inc | Conventional home mortgage | Trouble during payment process | 1 | 11.1% |
Fidelity National Financial, Inc | Other type of mortgage | Closing on a mortgage | 2 | 22.2% |
Fidelity National Financial, Inc | Other type of mortgage | Struggling to pay mortgage | 1 | 11.1% |
Fidelity National Financial, Inc | Other type of mortgage | Trouble during payment process | 1 | 11.1% |
Bank Details
Branches
Bank Name | Branch | Branch Type | Deposits (000's) |
---|---|---|---|
Fidelity Bank | 102 National Drive Huxley, IA 50124 | Full Service B&M | $24,415 |
Fidelity Bank | 177 South Jordan Creek Parkway West Des Moines, IA 50266 | Full Service B&M | $16,408 |
Fidelity Bank | 205 Water Street Cambridge, IA 50046 | Full Service B&M | $6,262 |
For 2019, Fidelity Bank had 3 branches.
Yearly Performance Overview
Bank Income
Item | Value (in 000's) |
---|---|
Total interest income | $3,558 |
Net interest income | $2,695 |
Total noninterest income | $6,717 |
Gross Fiduciary activities income | $0 |
Service charges on deposit accounts | $28 |
Trading account gains and fees | $0 |
Additional Noninterest Income | $6,689 |
Pre-tax net operating income | $1,031 |
Securities gains (or losses, -) | $0 |
Income before extraordinary items | $981 |
Discontinued Operations (Extraordinary gains, net) | $0 |
Net income of bank and minority interests | $981 |
Minority interest net income | $0 |
Net income | $981 |
Sale, conversion, retirement of capital stock, net | $0 |
Net operating income | $981 |
Fidelity Bank's gross interest income from loans was $3,558,000.
Fidelity Bank's net interest income from loans was $2,695,000.
Fidelity Bank's fee based income from loans was $28,000.
Fidelity Bank's net income from loans was $981,000.
Bank Expenses
Item | Value (in 000's) |
---|---|
Total interest expense | $863 |
Provision for credit losses | $0 |
Total noninterest expense | $8,381 |
Salaries and employee benefits | $6,109 |
Premises and equipment expense | $511 |
Additional noninterest expense | $1,761 |
Applicable income taxes | $50 |
Net charge-offs | $10 |
Cash dividends | $400 |
Fidelity Bank's interest expense for loans was $863,000.
Fidelity Bank's payroll and benefits expense were $6,109,000.
Fidelity Bank's property, plant and equipment expenses $511,000.
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 | 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 | $48,232 |
Deposits held in domestic offices | $48,232 |
Deposits by Individuals, partnerships, and corporations | $34,473 |
Deposits by U.S. Government | $0 |
Deposits by States and political subdivisions in the U.S. | $3,330 |
Deposits by Commercial banks and other depository institutions in U.S. | $10,429 |
Deposits by Banks in foreign countries | $0 |
Deposits by Foreign governments and official institutions | $0 |
Transaction accounts | $13,188 |
Demand deposits | $10,322 |
Nontransaction accounts | $35,044 |
Money market deposit accounts (MMDAs) | $8,310 |
Other savings deposits (excluding MMDAs) | $4,628 |
Total time deposits | $22,106 |
Total time and savings deposits | $37,910 |
Noninterest-bearing deposits | $8,096 |
Interest-bearing deposits | $40,136 |
Retail deposits | $44,912 |
IRAs and Keogh plan accounts | $311 |
Brokered deposits | $2,758 |
Deposits held in foreign offices | $0 |
Assets
Asset | Value (in 000's) |
---|---|
Total Assets | $85,216 |
Cash & Balances due from depository institutions | $6,656 |
Interest-bearing balances | $4,576 |
Total securities | $3,483 |
Federal funds sold & reverse repurchase | $0 |
Net loans and leases | $67,071 |
Loan and leases loss allowance | $670 |
Trading account assets | $0 |
Bank premises and fixed assets | $3,045 |
Other real estate owned | $0 |
Goodwill and other intangibles | $1,690 |
All other assets | $3,271 |
Liabilities
Liabilities | Value (in 000's) |
---|---|
Total liabilities and capital | $85,216 |
Total Liabilities | $75,041 |
Total deposits | $48,232 |
Interest-bearing deposits | $40,136 |
Deposits held in domestic offices | $48,232 |
% insured (estimated) | $91 |
Federal funds purchased and repurchase agreements | $0 |
Trading liabilities | $0 |
Other borrowed funds | $25,742 |
Subordinated debt | $0 |
All other liabilities | $1,067 |
Issued Loan Types
Type | Value (in 000's) |
---|---|
Net loans and leases | $67,071 |
Loan and leases loss allowance | $670 |
Total loans and leases (domestic) | $67,741 |
All real estate loans | $66,759 |
Real estate loans in domestic offices | $66,759 |
Construction and development loans | $17,285 |
Residential 1-4 family construction | $14,846 |
Other construction, all land development and other land | $2,439 |
Loans secured by nonfarm nonresidential properties | $3,021 |
Nonfarm nonresidential secured by owner-occupied properties | $825 |
Commercial real estate & other non-farm, non-residential | $2,196 |
Multifamily residential real estate | $548 |
1-4 family residential loans | $45,382 |
Farmland loans | $523 |
Loans held in foreign offices | $0 |
Farm loans | $739 |
Commercial and industrial loans | $97 |
To non-U.S. addressees | $0 |
Loans to individuals | $119 |
Credit card loans | $0 |
Related Plans | $0 |
Consumer Auto Loans | $2 |
Other loans to individuals | $117 |
All other loans & leases | $27 |
Loans to foreign governments and official institutions | $0 |
Other loans | $27 |
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 $67,071,000 of loans outstanding in 2019. $66,759,000 of loans were in real estate loans. $17,285,000 of loans were in development loans. $548,000 of loans were in multifamily mortgage loans. $45,382,000 of loans were in 1-4 family mortgage loans. $739,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,000 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 | 8 | $1,982 | $247,750 |
Nonfarm, nonresidential loans - <$100k | 1 | $28 | $28,000 |
Nonfarm, nonresidential loans - $100-250k | 2 | $226 | $113,000 |
Nonfarm, nonresidential loans - $250k-1MM | 5 | $1,728 | $345,600 |
Commercial & Industrial, US addressed loans - <$1MM | 6 | $96 | $16,000 |
Commercial & Industrial, US addressed loans - <$100k | 4 | $47 | $11,750 |
Commercial & Industrial, US addressed loans - $100-250k | 2 | $49 | $24,500 |
Farmland loans - <$1MM | 4 | $522 | $130,500 |
Farmland loans - <$100k | 2 | $105 | $52,500 |
Farmland loans - $100-250k | 1 | $92 | $92,000 |
Farmland loans - $250k-1MM | 1 | $325 | $325,000 |
Agriculture operations loans - <$1MM | 3 | $119 | $39,667 |
Agriculture operations loans - <$100k | 3 | $119 | $39,667 |