Mid-america Bank Mortgage Rates, Fees & Info
Baldwin City, KSLEI: 549300214PKB2Y1ZWH75
Tax ID: 48-0435820
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Mortgage Data
Bank Data
Review & Overview
Mid-america Bank is a smaller bank specializing in Home Purchase loans. Mid-america Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lawrence, Kansas City, Ottawa, Topeka, and Manhattan among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Mid-america 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. Mid-america 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 | 6.65% | 12/16/24 |
| 30 Year Conventional Refi | 6.71% | 12/16/24 |
| 30 Year Cash-out Refi | 6.55% | 12/16/24 |
| 15 Year Conventional Purchase | 6.40% | 12/16/24 |
| 15 Year Conventional Refi | 6.87% | 12/16/24 |
| 15 Year Cash-out Refi | 6.87% | 12/16/24 |
| 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. | ||
Mid-america Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
427Origination Dollar Volume (All Markets)
$72,015,000Employee count
46Awards
Mid-America Bank - 2018
Mid-America Bank is a 2018 , due to their low .
For 2018, 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 |
|---|---|---|---|---|---|
| LAWRENCE, KS (FHA|USDA|VA) | 198 | $35,540,000 | $179,495 | $1,794 | 5.27% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 104 | $21,210,000 | $203,942 | $2,018 | 5.07% |
| Ottawa, KS (FHA|USDA|VA) | 54 | $7,000,000 | $129,630 | $1,558 | 5.25% |
| TOPEKA, KS (FHA|USDA|VA) | 47 | $4,435,000 | $94,362 | $1,476 | 5.49% |
| Outside of Metro Areas | 11 | $1,625,000 | $147,727 | $1,640 | 5.05% |
| MANHATTAN, KS (FHA|USDA|VA) | 5 | $555,000 | $111,000 | $2,122 | 6.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $3,554 | 4.38% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $2,520 | 4.63% |
| WICHITA, KS (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $1,234 | 4.81% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $2,927 | 4.75% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $3,518 | 4.88% |
| Hutchinson, KS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,319 | 3.50% |
| Emporia, KS (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $1,983 | 5.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Mid-America Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 427 | $72,015,000 | $168,653 | $1,798 | 5.23% |
For 2018, Mid-america Bank's most frequently originated type of loan was Conventional, with 427 originations.
Loan Reason
For 2018, Mid-america Bank's most frequently cited loan purpose was Home Purchase, with 236 originations. The 2nd most popular reason was Refi, with 91 originations.
Loan Duration/Length
For 2018, Mid-america Bank's most frequently cited loan duration was 30 Year, with 229 originations. The 2nd most popular length was 15 Year, with 80 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 308 | $54,720,000 | $177,662 |
| $2k-3k | 1 | $255,000 | $255,000 |
| $3k-4k | 1 | $135,000 | $135,000 |
| $4k-5k | 1 | $425,000 | $425,000 |
Mid-america Bank's average total fees were $2,022, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 308 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 194 | $38,830,000 | $200,155 |
| 5-6% | 130 | $18,580,000 | $142,923 |
| 6-7% | 75 | $8,475,000 | $113,000 |
| 3-4% | 28 | $6,130,000 | $218,929 |
During 2018, Mid-america Bank's average interest rate for loans was 4.85%, while their most frequently originated rate bucket for loans was 4-5%, with 194 originations.
Loan Sizing
2018 saw Mid-america Bank place emphasis on $100k-200k loans with 154 originations, totaling $21,970,000 in origination value.
Applicant Income
Mid-america Bank lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $50k-75k, with 65 originations.
Applicant Debt to Income Ratio
Mid-america Bank lent most frequently to those with DTI ratios of 20-30%, with 86 originations. The next most common DTI ratio? 30-36%, with 63 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination93.21%
Mid-america Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 427 | $72,015,000 | $168,653 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MidAmerica Mortgage Inc | Conventional home mortgage | Struggling to pay mortgage | 1 | 5.0% |
| MidAmerica Mortgage Inc | Conventional home mortgage | Trouble during payment process | 8 | 40.0% |
| MidAmerica Mortgage Inc | FHA mortgage | Closing on a mortgage | 1 | 5.0% |
| MidAmerica Mortgage Inc | FHA mortgage | Trouble during payment process | 3 | 15.0% |
| MidAmerica Mortgage Inc | VA mortgage | Struggling to pay mortgage | 1 | 5.0% |
| MidAmerica Mortgage Inc | VA mortgage | Trouble during payment process | 6 | 30.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Mid-America Bank | 1008 Poplar Wellsville, KS 66092 | Full Service B&M | $26,353 |
| Mid-America Bank | 4114 W. 6th Street Lawrence, KS 66049 | Full Service B&M | $29,029 |
| Mid-America Bank | 802 Ames Street Baldwin City, KS 66006 | Full Service B&M | $86,506 |
For 2018, Mid-america Bank had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $9,265 |
| Net interest income | $7,047 |
| Total noninterest income | $2,612 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $166 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,446 |
| Pre-tax net operating income | $3,058 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $2,625 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,625 |
| Minority interest net income | $0 |
| Net income | $2,625 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,625 |
Mid-america Bank's gross interest income from loans was $9,265,000.
Mid-america Bank's net interest income from loans was $7,047,000.
Mid-america Bank's fee based income from loans was $166,000.
Mid-america Bank's net income from loans was $2,625,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,218 |
| Provision for credit losses | $540 |
| Total noninterest expense | $6,061 |
| Salaries and employee benefits | $3,200 |
| Premises and equipment expense | $1,272 |
| Additional noninterest expense | $1,589 |
| Applicable income taxes | $433 |
| Net charge-offs | $-15 |
| Cash dividends | $725 |
Mid-america Bank's interest expense for loans was $2,218,000.
Mid-america Bank's payroll and benefits expense were $3,200,000.
Mid-america Bank's property, plant and equipment expenses $1,272,000.
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 | 12.0% |
| 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 | $156,177 |
| Deposits held in domestic offices | $156,177 |
| Deposits by Individuals, partnerships, and corporations | $133,291 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $13,570 |
| Deposits by Commercial banks and other depository institutions in U.S. | $9,316 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $36,704 |
| Demand deposits | $30,814 |
| Nontransaction accounts | $119,473 |
| Money market deposit accounts (MMDAs) | $42,091 |
| Other savings deposits (excluding MMDAs) | $0 |
| Total time deposits | $77,382 |
| Total time and savings deposits | $125,363 |
| Noninterest-bearing deposits | $23,444 |
| Interest-bearing deposits | $132,733 |
| Retail deposits | $132,555 |
| IRAs and Keogh plan accounts | $6,342 |
| Brokered deposits | $14,037 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $191,874 |
| Cash & Balances due from depository institutions | $7,090 |
| Interest-bearing balances | $4,792 |
| Total securities | $3,884 |
| Federal funds sold & reverse repurchase | $841 |
| Net loans and leases | $166,327 |
| Loan and leases loss allowance | $2,728 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $5,131 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $2,588 |
| All other assets | $6,013 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $191,874 |
| Total Liabilities | $171,466 |
| Total deposits | $156,177 |
| Interest-bearing deposits | $132,733 |
| Deposits held in domestic offices | $156,177 |
| % insured (estimated) | $84 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $14,009 |
| Subordinated debt | $0 |
| All other liabilities | $1,280 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $166,327 |
| Loan and leases loss allowance | $2,728 |
| Total loans and leases (domestic) | $169,055 |
| All real estate loans | $158,053 |
| Real estate loans in domestic offices | $158,053 |
| Construction and development loans | $29,671 |
| Residential 1-4 family construction | $17,765 |
| Other construction, all land development and other land | $11,906 |
| Loans secured by nonfarm nonresidential properties | $21,512 |
| Nonfarm nonresidential secured by owner-occupied properties | $8,966 |
| Commercial real estate & other non-farm, non-residential | $12,546 |
| Multifamily residential real estate | $6,334 |
| 1-4 family residential loans | $92,877 |
| Farmland loans | $7,659 |
| Loans held in foreign offices | $0 |
| Farm loans | $632 |
| Commercial and industrial loans | $8,239 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,122 |
| Credit card loans | $0 |
| Related Plans | $15 |
| Consumer Auto Loans | $903 |
| Other loans to individuals | $1,204 |
| All other loans & leases | $12 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $12 |
| 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 $166,327,000 of loans outstanding in 2018. $158,053,000 of loans were in real estate loans. $29,671,000 of loans were in development loans. $6,334,000 of loans were in multifamily mortgage loans. $92,877,000 of loans were in 1-4 family mortgage loans. $632,000 of loans were in farm loans. $0 of loans were in credit card loans. $903,000 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 | 73 | $13,684 | $187,452 |
| Nonfarm, nonresidential loans - <$100k | 21 | $935 | $44,524 |
| Nonfarm, nonresidential loans - $100-250k | 26 | $3,110 | $119,615 |
| Nonfarm, nonresidential loans - $250k-1MM | 26 | $9,639 | $370,731 |
| Commercial & Industrial, US addressed loans - <$1MM | 96 | $6,300 | $65,625 |
| Commercial & Industrial, US addressed loans - <$100k | 71 | $1,279 | $18,014 |
| Commercial & Industrial, US addressed loans - $100-250k | 12 | $1,291 | $107,583 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 13 | $3,730 | $286,923 |
| Farmland loans - <$1MM | 53 | $5,800 | $109,434 |
| Farmland loans - <$100k | 23 | $1,005 | $43,696 |
| Farmland loans - $100-250k | 21 | $2,572 | $122,476 |
| Farmland loans - $250k-1MM | 9 | $2,223 | $247,000 |
| Agriculture operations loans - <$1MM | 25 | $632 | $25,280 |
| Agriculture operations loans - <$100k | 24 | $401 | $16,708 |
| Agriculture operations loans - $250k-1MM | 1 | $231 | $231,000 |