First Midwest Bank Of Dexter Mortgage Rates, Fees & Info

Dexter, MO

LEI: 5493003IRCQIQ6T3QS04

Tax ID: 43-0796471

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    First Midwest Bank Of Dexter is a smaller bank specializing in Home Purchase and Refi loans. First Midwest Bank Of Dexter has a high proportion of conventional loans. Their top markets by origination volume include: Cape Girardeau, Sikeston, Poplar Bluff, Kennett, and Nashville among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Midwest Bank Of Dexter 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. First Midwest Bank Of Dexter 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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    Originations

    116

    Origination Dollar Volume (All Markets)

    $19,990,000

    Employee count

    75

    Awards

    First Midwest Bank of Dexter 30 Year Conventional Loans silver
    Show all (1) 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
    Outside of Metro Areas 61 $8,785,000 $144,016 $3,037 4.80%
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 25 $5,095,000 $203,800 $1,648 5.43%
    Sikeston, MO (FHA|USDA|VA) 21 $4,665,000 $222,143 $2,332 5.24%
    Poplar Bluff, MO (FHA|USDA|VA) 3 $715,000 $238,333 $1,758 4.58%
    Kennett, MO (FHA|USDA|VA) 4 $480,000 $120,000 $2,526 4.82%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $195,000 $195,000 $2,223 4.75%
    Fort Leonard Wood, MO (FHA|USDA|VA) 1 $55,000 $55,000 $1,228 6.01%
    First Midwest Bank Of Dexter's top markets include Cape Girardeau, Sikeston, Poplar Bluff, Kennett, and Nashville among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    First Missouri State Bank of Cape County
    Similarity Rank: 55
    Southern Bank
    Similarity Rank: 117
    First State Community Bank
    Similarity Rank: 231
    The Bank of Missouri
    Similarity Rank: 368
    Flanagan State Bank
    Similarity Rank: 931
    Commerce Bank
    Similarity Rank: 1888
    FLAT BRANCH MORTGAGE, INC.
    Similarity Rank: 2139
    Mortgage Research Center, LLC
    Similarity Rank: 2706
    FINANCE OF AMERICA MORTGAGE LLC
    Similarity Rank: 3306
    U.S. Bank
    Similarity Rank: 5747

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 91 $17,385,000 $191,044 $2,216 5.15%
    USDA 25 $2,605,000 $104,200 $3,622 4.54%

    For 2018, First Midwest Bank Of Dexter's most frequently originated type of loan was Conventional, with 91 originations. Their 2nd most popular type was USDA, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 69 $8,845,000 $128,188 $3,024 5.11%
    Refi 24 $7,240,000 $301,667 $1,885 5.02%
    Cash Out Refi 19 $3,505,000 $184,474 $2,498 4.71%
    Home Improvement 4 $400,000 $100,000 $2,013 4.88%

    For 2018, First Midwest Bank Of Dexter's most frequently cited loan purpose was Home Purchase, with 69 originations. The 2nd most popular reason was Refi, with 24 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 64 $10,160,000 $158,750 $2,869 4.75%
    3 Year 16 $4,460,000 $278,750 $0 5.64%
    20 Year 13 $1,495,000 $115,000 $1,875 4.95%
    15 Year 9 $835,000 $92,778 $1,711 5.06%
    Other 7 $785,000 $112,143 $1,373 5.68%
    1 Year 4 $890,000 $222,500 $0 5.48%
    5 Year 3 $1,365,000 $455,000 $0 5.57%

    For 2018, First Midwest Bank Of Dexter's most frequently cited loan duration was 30 Year, with 64 originations. The 2nd most popular length was 3 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 57 $8,105,000 $142,193
    $1k-2k 8 $1,840,000 $230,000
    $2k-3k 5 $555,000 $111,000
    $3k-4k 2 $330,000 $165,000

    First Midwest Bank Of Dexter's average total fees were $2,869, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 57 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 61 $11,775,000 $193,033
    5-6% 43 $6,915,000 $160,814
    3-4% 7 $995,000 $142,143
    6-7% 4 $300,000 $75,000
    7-8% 1 $5,000 $5,000

    During 2018, First Midwest Bank Of Dexter's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 61 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $2,875,000 $61,170 $2,657 5.27%
    $100k-200k 47 $6,705,000 $142,660 $2,641 4.85%
    $200k-400k 17 $4,625,000 $272,059 $2,501 4.78%
    $1MM+ 3 $4,915,000 $1,638,333 $6,241 4.98%
    $400k-600k 2 $870,000 $435,000 $2,906 5.19%

    2018 saw First Midwest Bank Of Dexter place emphasis on $100,000 or less loans with 47 originations, totaling $2,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 30 $2,640,000 $88,000 $2,893 4.99%
    $50k-75k 24 $2,780,000 $115,833 $2,372 4.91%
    $75k-100k 17 $2,825,000 $166,176 $2,593 4.77%
    $100k-150k 16 $3,080,000 $192,500 $2,574 4.78%
    $150k-250k 4 $890,000 $222,500 $2,505 4.74%
    $250k+ 4 $1,730,000 $432,500 $4,262 5.38%

    First Midwest Bank Of Dexter lent most frequently to those with incomes in the $50k or less range, with 30 originations. The second most popular income band? $50k-75k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 30 $4,020,000 $134,000 $2,926 4.75%
    20-30% 28 $3,730,000 $133,214 $2,532 4.94%
    <20% 13 $2,785,000 $214,231 $2,567 5.24%
    39% 3 $315,000 $105,000 $2,905 5.09%
    38% 3 $385,000 $128,333 $3,275 4.67%
    42% 3 $715,000 $238,333 $2,179 4.96%
    40% 2 $180,000 $90,000 $2,619 4.75%
    36% 2 $200,000 $100,000 $1,870 4.56%
    41% 1 $125,000 $125,000 $2,218 4.75%
    50-60% 1 $195,000 $195,000 $0 5.50%

    First Midwest Bank Of Dexter lent most frequently to those with DTI ratios of 30-36%, with 30 originations. The next most common DTI ratio? 20-30%, with 28 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $13,945,000 $146,789 $2,678 4.90%
    Not applicable 21 $6,045,000 $287,857 $0 5.56%

    Approval Rates

    Total approvals of all applications
    94.53%

    First Midwest Bank Of Dexter has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.69%

    First Midwest Bank Of Dexter 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
    1939.54 1 $145,000 $145,000
    1940.0 1 $125,000 $125,000
    NA 114 $19,720,000 $172,982

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $4,075,000 $1,358,333
    Single Family (1-4 Units):Manufactured 5 $275,000 $55,000
    Single Family (1-4 Units):Site-Built 108 $15,640,000 $144,815

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $245,000 $49,000 $2,036 5.30%
    40-60% 12 $1,070,000 $89,167 $2,306 5.35%
    60-80% 52 $12,490,000 $240,192 $2,583 5.06%
    80-100% 40 $5,360,000 $134,000 $2,960 4.83%
    Over 100% 3 $355,000 $118,333 $1,912 5.18%
    Under 20% 1 $5,000 $5,000 $0 7.75%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST MIDWEST BANCORP, INC. Conventional home mortgage Closing on a mortgage 1 33.3%
    FIRST MIDWEST BANCORP, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 1 33.3%
    FIRST MIDWEST BANCORP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Midwest Bank of Dexter 12062 Center Street Dudley, MO 63936 Limited, Drive-thru $0
    First Midwest Bank of Dexter 1820 North Kingshighway Cape Girardeau, MO 63701 Full Service B&M $17,845
    First Midwest Bank of Dexter 20 West Stoddard Street Dexter, MO 63841 Full Service B&M $0
    First Midwest Bank of Dexter 2319 East Jackson Boulevard Jackson, MO 63755 Full Service B&M $51,871
    First Midwest Bank of Dexter 630 North Main Sikeston, MO 63801 Full Service B&M $44,892
    First Midwest Bank of Dexter 819 West Business Highway 60 Dexter, MO 63841 Full Service B&M $175,125

    For 2018, First Midwest Bank Of Dexter had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,100
    Net interest income $12,530
    Total noninterest income $2,123
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $579
    Trading account gains and fees $0
    Additional Noninterest Income $1,544
    Pre-tax net operating income $5,378
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,127
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,127
    Minority interest net income $0
    Net income $4,127
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,127

    First Midwest Bank Of Dexter's gross interest income from loans was $15,100,000.
    First Midwest Bank Of Dexter's net interest income from loans was $12,530,000.
    First Midwest Bank Of Dexter's fee based income from loans was $579,000.
    First Midwest Bank Of Dexter's net income from loans was $4,127,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,570
    Provision for credit losses $485
    Total noninterest expense $8,790
    Salaries and employee benefits $4,957
    Premises and equipment expense $1,070
    Additional noninterest expense $2,763
    Applicable income taxes $1,251
    Net charge-offs $69
    Cash dividends $1,075

    First Midwest Bank Of Dexter's interest expense for loans was $2,570,000.
    First Midwest Bank Of Dexter's payroll and benefits expense were $4,957,000.
    First Midwest Bank Of Dexter's property, plant and equipment expenses $1,070,000.

    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 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $298,617
    Deposits held in domestic offices $298,617
    Deposits by Individuals, partnerships, and corporations $292,931
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $5,686
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $114,932
    Demand deposits $63,013
    Nontransaction accounts $183,685
    Money market deposit accounts (MMDAs) $53,992
    Other savings deposits (excluding MMDAs) $12,173
    Total time deposits $117,520
    Total time and savings deposits $235,604
    Noninterest-bearing deposits $64,310
    Interest-bearing deposits $234,307
    Retail deposits $257,859
    IRAs and Keogh plan accounts $8,669
    Brokered deposits $13,531
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $337,266
    Cash & Balances due from depository institutions $15,068
    Interest-bearing balances $3,115
    Total securities $16,239
    Federal funds sold & reverse repurchase $0
    Net loans and leases $284,504
    Loan and leases loss allowance $3,132
    Trading account assets $0
    Bank premises and fixed assets $10,637
    Other real estate owned $625
    Goodwill and other intangibles $0
    All other assets $10,193

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $337,266
    Total Liabilities $301,623
    Total deposits $298,617
    Interest-bearing deposits $234,307
    Deposits held in domestic offices $298,617
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $2,370
    Subordinated debt $0
    All other liabilities $636

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $284,504
    Loan and leases loss allowance $3,132
    Total loans and leases (domestic) $287,636
    All real estate loans $196,184
    Real estate loans in domestic offices $196,184
    Construction and development loans $22,274
    Residential 1-4 family construction $7,018
    Other construction, all land development and other land $15,256
    Loans secured by nonfarm nonresidential properties $93,495
    Nonfarm nonresidential secured by owner-occupied properties $15,119
    Commercial real estate & other non-farm, non-residential $78,376
    Multifamily residential real estate $8,381
    1-4 family residential loans $48,398
    Farmland loans $23,636
    Loans held in foreign offices $0
    Farm loans $13,452
    Commercial and industrial loans $71,163
    To non-U.S. addressees $0
    Loans to individuals $6,837
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $4,335
    Other loans to individuals $2,502
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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

    First Midwest Bank of Dexter had $284,504,000 of loans outstanding in 2018. $196,184,000 of loans were in real estate loans. $22,274,000 of loans were in development loans. $8,381,000 of loans were in multifamily mortgage loans. $48,398,000 of loans were in 1-4 family mortgage loans. $13,452,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,335,000 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 173 $31,586 $182,578
    Nonfarm, nonresidential loans - <$100k 66 $2,294 $34,758
    Nonfarm, nonresidential loans - $100-250k 47 $5,772 $122,809
    Nonfarm, nonresidential loans - $250k-1MM 60 $23,520 $392,000
    Commercial & Industrial, US addressed loans - <$1MM 452 $45,199 $99,998
    Commercial & Industrial, US addressed loans - <$100k 294 $7,129 $24,248
    Commercial & Industrial, US addressed loans - $100-250k 76 $8,788 $115,632
    Commercial & Industrial, US addressed loans - $250k-1MM 82 $29,282 $357,098
    Farmland loans - <$1MM 58 $8,732 $150,552
    Farmland loans - <$100k 19 $922 $48,526
    Farmland loans - $100-250k 24 $3,585 $149,375
    Farmland loans - $250k-1MM 15 $4,225 $281,667
    Agriculture operations loans - <$1MM 39 $1,193 $30,590
    Agriculture operations loans - <$100k 31 $619 $19,968
    Agriculture operations loans - $100-250k 7 $368 $52,571
    Agriculture operations loans - $250k-1MM 1 $206 $206,000