Mid-america Bank Mortgage Rates, Fees & Info
Baldwin City, KSLEI: 549300214PKB2Y1ZWH75
Tax ID: 48-0435820
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Bank Data
Review & 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 by origination volume include: Lawrence, Kansas City, Ottawa, Topeka, and Wichita among others. We have data for 24 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% | 4/18/24 |
| 30 Year Conventional Refi | 6.71% | 4/18/24 |
| 30 Year Cash-out Refi | 6.55% | 4/18/24 |
| 15 Year Conventional Purchase | 6.40% | 4/18/24 |
| 15 Year Conventional Refi | 6.87% | 4/18/24 |
| 15 Year Cash-out Refi | 6.87% | 4/18/24 |
| 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
1,064Origination Dollar Volume (All Markets)
$241,560,000Employee count
54Awards
Mid-America Bank - 2020
Mid-America Bank is a 2020 , due to their low .
For 2020, 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) | 517 | $120,605,000 | $233,279 | $1,940 | 3.49% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 313 | $79,275,000 | $253,275 | $1,992 | 3.43% |
| Ottawa, KS (FHA|USDA|VA) | 100 | $17,900,000 | $179,000 | $1,918 | 3.40% |
| TOPEKA, KS (FHA|USDA|VA) | 92 | $14,270,000 | $155,109 | $2,014 | 3.69% |
| Outside of Metro Areas | 11 | $2,065,000 | $187,727 | $2,211 | 3.53% |
| WICHITA, KS (FHA|USDA|VA) | 8 | $1,330,000 | $166,250 | $2,341 | 3.86% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $940,000 | $470,000 | $2,400 | 3.13% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $1,442 | 3.13% |
| Breckenridge, CO (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $2,640 | 2.50% |
| BOULDER, CO (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $2,716 | 2.50% |
| Hays, KS (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $2,793 | 3.25% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,676 | 2.88% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $1,906 | 3.38% |
| Warrensburg, MO (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $2,096 | 2.75% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $2,750 | 3.25% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $3,502 | 2.75% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,546 | 4.75% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,085 | 3.50% |
| MANHATTAN, KS (FHA|USDA|VA) | 3 | $235,000 | $78,333 | $1,638 | 3.92% |
| SALT LAKE CITY, UT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,350 | 3.38% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 3.75% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $2,066 | 2.88% |
| Great Bend, KS (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,708 | 2.63% |
| Coffeyville, KS (FHA|USDA|VA) | 1 | $25,000 | $25,000 | $1,333 | 5.25% |
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 | 1,063 | $241,535,000 | $227,220 | $1,973 | 3.48% |
| HELOC | 1 | $25,000 | $25,000 | n/a | 4.75% |
For 2020, Mid-america Bank's most frequently originated type of loan was Conventional, with 1,063 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2020, Mid-america Bank's most frequently cited loan purpose was Home Purchase, with 393 originations. The 2nd most popular reason was Refi, with 357 originations.
Loan Duration/Length
For 2020, Mid-america Bank's most frequently cited loan duration was 30 Year, with 645 originations. The 2nd most popular length was 15 Year, with 185 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 884 | $210,640,000 | $238,281 |
| $3k-4k | 1 | $245,000 | $245,000 |
Mid-america Bank's average total fees were $2,051, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 884 originations.
Interest Rates
During 2020, Mid-america Bank's average interest rate for loans was 3.30%, while their most frequently originated rate bucket for loans was 2.5-3%, with 466 originations.
Loan Sizing
2020 saw Mid-america Bank place emphasis on $200k-400k loans with 439 originations, totaling $121,455,000 in origination value.
Applicant Income
Mid-america Bank lent most frequently to those with incomes in the $100k-150k range, with 275 originations. The second most popular income band? $150k-250k, with 206 originations.
Applicant Debt to Income Ratio
Mid-america Bank lent most frequently to those with DTI ratios of 20-30%, with 313 originations. The next most common DTI ratio? <20%, with 222 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.82%
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 origination95.58%
Mid-america Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,064 | $241,560,000 | $227,030 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MidAmerica Mortgage Inc | Conventional home mortgage | Struggling to pay mortgage | 3 | 5.4% |
| MidAmerica Mortgage Inc | Conventional home mortgage | Trouble during payment process | 8 | 14.3% |
| MidAmerica Mortgage Inc | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | FHA mortgage | Closing on a mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | FHA mortgage | Incorrect information on your report | 1 | 1.8% |
| MidAmerica Mortgage Inc | FHA mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 1.8% |
| MidAmerica Mortgage Inc | FHA mortgage | Struggling to pay mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | FHA mortgage | Trouble during payment process | 9 | 16.1% |
| MidAmerica Mortgage Inc | FHA mortgage | Unable to get your credit report or credit score | 1 | 1.8% |
| MidAmerica Mortgage Inc | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 3.6% |
| MidAmerica Mortgage Inc | Other type of mortgage | Closing on a mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | Other type of mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 1.8% |
| MidAmerica Mortgage Inc | Other type of mortgage | Struggling to pay mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | Other type of mortgage | Trouble during payment process | 6 | 10.7% |
| MidAmerica Mortgage Inc | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | VA mortgage | Closing on a mortgage | 1 | 1.8% |
| MidAmerica Mortgage Inc | VA mortgage | Struggling to pay mortgage | 6 | 10.7% |
| MidAmerica Mortgage Inc | VA mortgage | Trouble during payment process | 11 | 19.6% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Mid-America Bank | 1008 Poplar Wellsville, KS 66092 | Full Service B&M | $35,544 |
| Mid-America Bank | 18365 Gardner Rd. Gardner, KS 66030 | Full Service B&M | $6,256 |
| Mid-America Bank | 4114 W. 6th Street Lawrence, KS 66049 | Full Service B&M | $41,778 |
| Mid-America Bank | 802 Ames Street Baldwin City, KS 66006 | Full Service B&M | $131,276 |
For 2020, Mid-america Bank had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $12,428 |
| Net interest income | $8,836 |
| Total noninterest income | $5,454 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $149 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $5,305 |
| Pre-tax net operating income | $5,935 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,514 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,514 |
| Minority interest net income | $0 |
| Net income | $4,514 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,514 |
Mid-america Bank's gross interest income from loans was $12,428,000.
Mid-america Bank's net interest income from loans was $8,836,000.
Mid-america Bank's fee based income from loans was $149,000.
Mid-america Bank's net income from loans was $4,514,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,592 |
| Provision for credit losses | $685 |
| Total noninterest expense | $7,670 |
| Salaries and employee benefits | $4,211 |
| Premises and equipment expense | $1,086 |
| Additional noninterest expense | $2,373 |
| Applicable income taxes | $1,421 |
| Net charge-offs | $-1 |
| Cash dividends | $660 |
Mid-america Bank's interest expense for loans was $3,592,000.
Mid-america Bank's payroll and benefits expense were $4,211,000.
Mid-america Bank's property, plant and equipment expenses $1,086,000.
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 | $219,484 |
| Deposits held in domestic offices | $219,484 |
| Deposits by Individuals, partnerships, and corporations | $191,618 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $20,327 |
| Deposits by Commercial banks and other depository institutions in U.S. | $7,539 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $57,552 |
| Demand deposits | $51,429 |
| Nontransaction accounts | $161,932 |
| Money market deposit accounts (MMDAs) | $61,703 |
| Other savings deposits (excluding MMDAs) | $0 |
| Total time deposits | $100,229 |
| Total time and savings deposits | $168,055 |
| Noninterest-bearing deposits | $33,087 |
| Interest-bearing deposits | $186,397 |
| Retail deposits | $192,638 |
| IRAs and Keogh plan accounts | $7,310 |
| Brokered deposits | $11,299 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $280,832 |
| Cash & Balances due from depository institutions | $56,491 |
| Interest-bearing balances | $54,026 |
| Total securities | $4,018 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $196,983 |
| Loan and leases loss allowance | $3,548 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $5,850 |
| Other real estate owned | $1,488 |
| Goodwill and other intangibles | $2,123 |
| All other assets | $13,879 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $280,832 |
| Total Liabilities | $254,341 |
| Total deposits | $219,484 |
| Interest-bearing deposits | $186,397 |
| Deposits held in domestic offices | $219,484 |
| % insured (estimated) | $88 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $33,457 |
| Subordinated debt | $0 |
| All other liabilities | $1,400 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $196,983 |
| Loan and leases loss allowance | $3,548 |
| Total loans and leases (domestic) | $200,531 |
| All real estate loans | $185,170 |
| Real estate loans in domestic offices | $185,170 |
| Construction and development loans | $38,015 |
| Residential 1-4 family construction | $20,943 |
| Other construction, all land development and other land | $17,072 |
| Loans secured by nonfarm nonresidential properties | $24,094 |
| Nonfarm nonresidential secured by owner-occupied properties | $14,277 |
| Commercial real estate & other non-farm, non-residential | $9,817 |
| Multifamily residential real estate | $4,814 |
| 1-4 family residential loans | $107,581 |
| Farmland loans | $10,666 |
| Loans held in foreign offices | $0 |
| Farm loans | $343 |
| Commercial and industrial loans | $12,533 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,484 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $679 |
| Other loans to individuals | $1,805 |
| All other loans & leases | $3 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $3 |
| 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 $196,983,000 of loans outstanding in 2020. $185,170,000 of loans were in real estate loans. $38,015,000 of loans were in development loans. $4,814,000 of loans were in multifamily mortgage loans. $107,581,000 of loans were in 1-4 family mortgage loans. $343,000 of loans were in farm loans. $0 of loans were in credit card loans. $679,000 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 | 72 | $14,402 | $200,028 |
| Nonfarm, nonresidential loans - <$100k | 16 | $733 | $45,813 |
| Nonfarm, nonresidential loans - $100-250k | 29 | $3,553 | $122,517 |
| Nonfarm, nonresidential loans - $250k-1MM | 27 | $10,116 | $374,667 |
| Commercial & Industrial, US addressed loans - <$1MM | 159 | $9,244 | $58,138 |
| Commercial & Industrial, US addressed loans - <$100k | 132 | $2,219 | $16,811 |
| Commercial & Industrial, US addressed loans - $100-250k | 12 | $1,320 | $110,000 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 15 | $5,705 | $380,333 |
| Farmland loans - <$1MM | 56 | $7,512 | $134,143 |
| Farmland loans - <$100k | 22 | $1,059 | $48,136 |
| Farmland loans - $100-250k | 23 | $2,819 | $122,565 |
| Farmland loans - $250k-1MM | 11 | $3,634 | $330,364 |
| Agriculture operations loans - <$1MM | 18 | $343 | $19,056 |
| Agriculture operations loans - <$100k | 18 | $343 | $19,056 |