Mid-america Bank Mortgage Rates, Fees & Info

Baldwin City, KS

LEI: 549300214PKB2Y1ZWH75

Tax ID: 48-0435820

5 stars - out of 5 stars, based on 31 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mid-america Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Mid-america Bank has a high proportion of conventional loans. Their top markets include Lawrence, Kansas City, Ottawa, Topeka, and Salina among others. Mid-america Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Mid-america Bank is typically a low fee lendor.


Originations

956

Origination Dollar Volume (All Markets)

$225,300,000

Employee count

56 Show all (6) awards

Relative Rate

Mid-america Bank's average 30 year fixed rate mortgage of loans were 3.27%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.12%.

Relative Fees

Mid-america Bank's average total fees for a 30 year fixed rate mortgage are $2,202.

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
LAWRENCE, KS (FHA|USDA|VA) 412 $97,770,000 $237,306 $2,065 3.42%
KANSAS CITY, MO-KS (FHA|USDA|VA) 296 $77,400,000 $261,486 $2,081 3.47%
Ottawa, KS (FHA|USDA|VA) 87 $15,025,000 $172,701 $1,938 3.42%
TOPEKA, KS (FHA|USDA|VA) 78 $13,220,000 $169,487 $2,008 3.35%
Outside of Metro Areas 41 $9,375,000 $228,659 $2,226 3.31%
Salina, KS (FHA|USDA|VA) 1 $1,165,000 $1,165,000 $0 4.25%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 4 $1,140,000 $285,000 $2,116 2.81%
MANHATTAN, KS (FHA|USDA|VA) 5 $915,000 $183,000 $2,236 4.00%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $755,000 $755,000 $4,658 2.88%
WICHITA, KS (FHA|USDA|VA) 4 $720,000 $180,000 $2,483 4.00%
Branson, MO (FHA|USDA|VA) 2 $710,000 $355,000 $1,486 4.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $660,000 $330,000 $2,930 2.88%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $565,000 $565,000 $4,980 3.75%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $535,000 $535,000 $5,391 2.88%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $535,000 $535,000 $3,755 3.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $525,000 $525,000 $5,113 3.75%
FORT COLLINS, CO (FHA|USDA|VA) 1 $415,000 $415,000 $3,982 3.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $375,000 $375,000 $0 3.75%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $365,000 $365,000 $3,082 2.75%
BOULDER, CO (FHA|USDA|VA) 1 $365,000 $365,000 $2,876 3.38%
GRAND ISLAND, NE (FHA|USDA|VA) 1 $305,000 $305,000 $2,921 3.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $295,000 $295,000 $2,984 3.13%
ST. JOSEPH, MO-KS (FHA|USDA|VA) 1 $245,000 $245,000 $0 4.75%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $235,000 $235,000 $2,853 2.75%
Kearney, NE (FHA|USDA|VA) 1 $235,000 $235,000 $2,172 2.88%
LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) 1 $215,000 $215,000 $2,590 4.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,376 3.38%
TEXARKANA, TX-AR (FHA|USDA|VA) 1 $165,000 $165,000 $3,165 3.25%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $165,000 $165,000 $0 4.25%
ROCHESTER, MN (FHA|USDA|VA) 1 $145,000 $145,000 $2,316 2.88%
Dodge City, KS (FHA|USDA|VA) 1 $145,000 $145,000 $2,093 3.38%
Great Bend, KS (FHA|USDA|VA) 1 $135,000 $135,000 $1,941 3.00%
Atchison, KS (FHA|USDA|VA) 1 $135,000 $135,000 $1,873 2.50%
MONTGOMERY, AL (FHA|USDA|VA) 1 $95,000 $95,000 $0 3.50%
Emporia, KS (FHA|USDA|VA) 1 $45,000 $45,000 $1,553 4.50%

Mid-america Bank's top markets include Lawrence, Kansas City, Ottawa, Topeka, and Salina among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 956 $225,300,000 $235,669 $2,093 3.43%

For the 2021 period, Mid-america Bank's most frequently originated loan type of loans were Conventional, with 956 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 432 $114,020,000 $263,935 $2,386 3.54%
Refi 276 $59,040,000 $213,913 $1,826 3.45%
Cash Out Refi 209 $48,725,000 $233,134 $2,049 3.05%
Other 28 $2,870,000 $102,500 $1,227 4.01%
Home Improvement 11 $645,000 $58,636 $1,090 4.50%

For the 2021, Mid-america Bank's most frequently cited loan purpose of loans were Home Purchase, with 432 originations. The 2nd most popular reason of loans were Refi, with 276 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 539 $140,675,000 $260,993 $2,202 3.27%
15 Year 166 $30,780,000 $185,422 $1,927 3.15%
Other 122 $27,820,000 $228,033 $1,718 4.14%
20 Year 90 $18,730,000 $208,111 $2,016 3.63%
10 Year 14 $1,050,000 $75,000 $1,321 4.02%
5 Year 11 $785,000 $71,364 $1,041 3.77%
30+ year 8 $3,000,000 $375,000 $0 4.25%
1 Year 6 $2,460,000 $410,000 $2,363 4.54%

For the 2021, Mid-america Bank's most frequently cited loan length of loans were 30 Year, with 539 originations. The 2nd most popular length of loans were 15 Year, with 166 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 717 $170,025,000 $237,134
$1k-2k 2 $180,000 $90,000
$5k+ 2 $930,000 $465,000
$2k-3k 1 $305,000 $305,000
$3k-4k 1 $375,000 $375,000

$2,202 of loans were Mid-america Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 717 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 351 $86,655,000 $246,880
2.5-3% 330 $83,240,000 $252,242
4-5% 204 $40,630,000 $199,167
<2.5% 59 $13,255,000 $224,661
5-6% 12 $1,520,000 $126,667

During 2021, Mid-america Bank's average interest rate of loans were 3.27%, while their most frequently originated rate bucket of loans were 3-4%, with 351 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 372 $102,950,000 $276,747 $2,172 3.31%
$100k-200k 327 $48,435,000 $148,119 $1,937 3.39%
$100,000 or less 134 $8,890,000 $66,343 $1,499 3.89%
$400k-600k 108 $50,980,000 $472,037 $2,732 3.32%
$600k-1MM 11 $8,795,000 $799,545 $3,624 3.89%
$1MM+ 4 $5,250,000 $1,312,500 $0 3.81%

2021 saw Mid-america Bank place emphasis on $200k-400k loans with 372 originations, totaling $102,950,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 210 $49,940,000 $237,810 $2,117 3.32%
$150k-250k 174 $48,240,000 $277,241 $2,302 3.22%
$50k-75k 144 $23,290,000 $161,736 $1,986 3.42%
$75k-100k 132 $27,400,000 $207,576 $1,936 3.30%
$50k or less 88 $12,470,000 $141,705 $1,949 3.38%
$250k+ 87 $29,685,000 $341,207 $2,333 3.38%

Mid-america Bank lent most frequently to those with incomes in the $100k-150k range, with 210 originations. The second most popular income band? $150k-250k, with 174 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 255 $59,015,000 $231,431 $2,165 3.15%
<20% 153 $34,695,000 $226,765 $2,048 3.04%
30-36% 138 $32,460,000 $235,217 $2,099 3.21%
37% 23 $5,305,000 $230,652 $2,129 3.38%
38% 23 $6,015,000 $261,522 $1,880 3.23%
36% 19 $4,465,000 $235,000 $2,020 3.13%
42% 17 $4,545,000 $267,353 $2,082 3.19%
40% 17 $3,115,000 $183,235 $1,961 3.24%
41% 16 $3,950,000 $246,875 $2,021 3.27%
43% 16 $4,910,000 $306,875 $2,146 3.30%
39% 13 $2,515,000 $193,462 $2,155 3.36%
44% 12 $2,950,000 $245,833 $2,210 3.14%
>60% 11 $1,835,000 $166,818 $1,727 4.11%
46% 10 $2,550,000 $255,000 $2,177 3.26%
50-60% 9 $2,405,000 $267,222 $2,022 4.03%
45% 9 $2,825,000 $313,889 $2,149 3.31%
48% 6 $1,000,000 $166,667 $1,654 4.04%
47% 5 $1,245,000 $249,000 $2,114 3.70%
49% 3 $1,085,000 $361,667 $2,233 2.96%

Mid-america Bank lent most frequently to those with DTI ratios of 20-30%, with 255 originations. The next most common DTI ratio? <20%, with 153 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 781 $177,635,000 $227,446 $2,079 3.33%
Not applicable 109 $31,145,000 $285,734 $0 4.25%
Not provided 51 $12,585,000 $246,765 $2,245 3.26%
Black 6 $1,940,000 $323,333 $2,222 3.29%
Asian 7 $1,695,000 $242,143 $2,534 3.54%
American Indian 2 $300,000 $150,000 $1,947 3.19%

Approval Rates

Total approvals of all applications
99.91%

Mid-america 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
94.37%

Mid-america Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 956 $225,300,000 $235,669

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
956 $225,300,000 $235,669

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 79 $12,565,000 $159,051 $1,833 3.38%
40-60% 149 $30,605,000 $205,403 $1,954 3.16%
60-80% 440 $114,270,000 $259,705 $2,201 3.48%
80-100% 253 $65,625,000 $259,387 $2,249 3.40%
Over 100% 1 $145,000 $145,000 $0 4.25%
Under 20% 34 $2,090,000 $61,471 $956 4.26%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
MidAmerica Mortgage Inc Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 3.8%
MidAmerica Mortgage Inc Conventional home mortgage Trouble during payment process 6 11.5%
MidAmerica Mortgage Inc FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 3.8%
MidAmerica Mortgage Inc FHA mortgage Closing on a mortgage 1 1.9%
MidAmerica Mortgage Inc FHA mortgage Incorrect information on your report 5 9.6%
MidAmerica Mortgage Inc FHA mortgage Struggling to pay mortgage 6 11.5%
MidAmerica Mortgage Inc FHA mortgage Trouble during payment process 14 26.9%
MidAmerica Mortgage Inc Other type of mortgage Struggling to pay mortgage 1 1.9%
MidAmerica Mortgage Inc Other type of mortgage Trouble during payment process 2 3.8%
MidAmerica Mortgage Inc VA mortgage Incorrect information on your report 1 1.9%
MidAmerica Mortgage Inc VA mortgage Struggling to pay mortgage 5 9.6%
MidAmerica Mortgage Inc VA mortgage Trouble during payment process 7 13.5%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Mid-America Bank 1008 Poplar Wellsville, KS 66092 Full Service B&M $40,648
Mid-America Bank 18365 Gardner Rd. Gardner, KS 66030 Full Service B&M $15,959
Mid-America Bank 4114 W. 6th Street Lawrence, KS 66049 Full Service B&M $49,426
Mid-America Bank 802 Ames Street Baldwin City, KS 66006 Full Service B&M $139,431

For 2021, Mid-america Bank had 4 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $12,594
Net interest income $9,617
Total noninterest income $6,603
Gross Fiduciary activities income $0
Service charges on deposit accounts $141
Trading account gains and fees $0
Additional Noninterest Income $6,462
Pre-tax net operating income $8,203
Securities gains (or losses, -) $0
Income before extraordinary items $6,794
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $6,794
Minority interest net income $0
Net income $6,794
Sale, conversion, retirement of capital stock, net $0
Net operating income $6,794

Mid-america Bank's gross interest income from loans was $12,594,000.
Mid-america Bank's net interest income from loans was $9,617,000.
Mid-america Bank's fee based income from loans was $141,000.
Mid-america Bank's net income from loans was $6,794,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,977
Provision for credit losses $280
Total noninterest expense $7,737
Salaries and employee benefits $4,429
Premises and equipment expense $966
Additional noninterest expense $2,342
Applicable income taxes $1,409
Net charge-offs $-2
Cash dividends $1,290

Mid-america Bank's interest expense for loans was $2,977,000.
Mid-america Bank's payroll and benefits expense were $4,429,000.
Mid-america Bank's property, plant and equipment expenses $966,000.

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 $239,771
Deposits held in domestic offices $239,771
Deposits by Individuals, partnerships, and corporations $215,184
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $19,240
Deposits by Commercial banks and other depository institutions in U.S. $5,347
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $73,646
Demand deposits $68,476
Nontransaction accounts $166,125
Money market deposit accounts (MMDAs) $71,707
Other savings deposits (excluding MMDAs) $0
Total time deposits $94,418
Total time and savings deposits $171,295
Noninterest-bearing deposits $41,860
Interest-bearing deposits $197,911
Retail deposits $214,227
IRAs and Keogh plan accounts $9,478
Brokered deposits $7,508
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $306,026
Cash & Balances due from depository institutions $37,226
Interest-bearing balances $34,716
Total securities $5,082
Federal funds sold & reverse repurchase $0
Net loans and leases $240,798
Loan and leases loss allowance $3,830
Trading account assets $0
Bank premises and fixed assets $6,201
Other real estate owned $0
Goodwill and other intangibles $3,828
All other assets $12,891

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $306,026
Total Liabilities $274,031
Total deposits $239,771
Interest-bearing deposits $197,911
Deposits held in domestic offices $239,771
% insured (estimated) $88
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $32,515
Subordinated debt $0
All other liabilities $1,745

Issued Loan Types

Type Value (in 000's)
Net loans and leases $240,798
Loan and leases loss allowance $3,830
Total loans and leases (domestic) $244,628
All real estate loans $230,867
Real estate loans in domestic offices $230,867
Construction and development loans $44,131
Residential 1-4 family construction $23,383
Other construction, all land development and other land $20,748
Loans secured by nonfarm nonresidential properties $23,715
Nonfarm nonresidential secured by owner-occupied properties $12,203
Commercial real estate & other non-farm, non-residential $11,512
Multifamily residential real estate $8,541
1-4 family residential loans $134,169
Farmland loans $20,311
Loans held in foreign offices $0
Farm loans $212
Commercial and industrial loans $11,031
To non-U.S. addressees $0
Loans to individuals $2,511
Credit card loans $0
Related Plans $0
Consumer Auto Loans $653
Other loans to individuals $1,858
All other loans & leases $8
Loans to foreign governments and official institutions $0
Other loans $8
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

Mid-America Bank had $240,798,000 of loans outstanding in 2021. $230,867,000 of loans were in real estate loans. $44,131,000 of loans were in development loans. $8,541,000 of loans were in multifamily mortgage loans. $134,169,000 of loans were in 1-4 family mortgage loans. $212,000 of loans were in farm loans. $0 of loans were in credit card loans. $653,000 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 83 $17,913 $215,819
Nonfarm, nonresidential loans - <$100k 14 $678 $48,429
Nonfarm, nonresidential loans - $100-250k 36 $4,629 $128,583
Nonfarm, nonresidential loans - $250k-1MM 33 $12,606 $382,000
Commercial & Industrial, US addressed loans - <$1MM 83 $6,631 $79,892
Commercial & Industrial, US addressed loans - <$100k 61 $1,147 $18,803
Commercial & Industrial, US addressed loans - $100-250k 10 $1,020 $102,000
Commercial & Industrial, US addressed loans - $250k-1MM 12 $4,464 $372,000
Farmland loans - <$1MM 69 $10,831 $156,971
Farmland loans - <$100k 18 $943 $52,389
Farmland loans - $100-250k 34 $4,748 $139,647
Farmland loans - $250k-1MM 17 $5,140 $302,353
Agriculture operations loans - <$1MM 14 $212 $15,143
Agriculture operations loans - <$100k 14 $212 $15,143