First Midwest Bank Of Dexter Mortgage Rates, Fees & Info

Dexter, MO

LEI: 5493003IRCQIQ6T3QS04

Tax ID: 43-0796471

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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, Cash Out Refi, 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, Crestview, and St. Louis among others. We have data for 13 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

    338

    Origination Dollar Volume (All Markets)

    $61,100,000

    Employee count

    86 Show all (5) 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
    CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 112 $25,000,000 $223,214 $2,290 3.24%
    Outside of Metro Areas 149 $22,555,000 $151,376 $2,882 3.55%
    Sikeston, MO (FHA|USDA|VA) 57 $8,615,000 $151,140 $2,018 3.68%
    Poplar Bluff, MO (FHA|USDA|VA) 6 $1,960,000 $326,667 $2,487 3.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $700,000 $350,000 $5,663 3.64%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 2 $440,000 $220,000 $2,147 3.13%
    SPRINGFIELD, MO (FHA|USDA|VA) 2 $430,000 $215,000 $2,891 3.31%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $405,000 $405,000 $2,353 2.38%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 2 $320,000 $160,000 $0 4.50%
    Lewisburg, TN (FHA|USDA|VA) 1 $255,000 $255,000 $2,478 2.88%
    JONESBORO, AR (FHA|USDA|VA) 2 $200,000 $100,000 $2,281 4.06%
    Kennett, MO (FHA|USDA|VA) 1 $145,000 $145,000 $4,472 3.50%
    Paragould, AR (FHA|USDA|VA) 1 $75,000 $75,000 $1,696 4.13%
    First Midwest Bank Of Dexter's top markets include Cape Girardeau, Sikeston, Poplar Bluff, Crestview, and St. Louis among others.

    Their top states include:
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Texas (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 Midwest Bank of Dexter
    Similarity Rank: 156
    The Bank of Missouri
    Similarity Rank: 825
    Flanagan State Bank
    Similarity Rank: 840
    First State Community Bank
    Similarity Rank: 864
    HALLMARK HOME MORTGAGE, LLC
    Similarity Rank: 1414
    Southern Bank
    Similarity Rank: 1484
    DELMAR FINANCIAL COMPANY
    Similarity Rank: 2352
    FREEDOM MORTGAGE CORPORATION
    Similarity Rank: 2769
    GERSHMAN INVESTMENT CORP.
    Similarity Rank: 4270
    PENNYMAC LOAN SERVICES, LLC
    Similarity Rank: 4280

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 307 $57,525,000 $187,378 $2,395 3.49%
    USDA 30 $3,470,000 $115,667 $3,771 3.17%
    VA 1 $105,000 $105,000 $1,861 2.63%

    For 2020, First Midwest Bank Of Dexter's most frequently originated type of loan was Conventional, with 307 originations. Their 2nd most popular type was USDA, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 133 $19,005,000 $142,895 $2,995 3.79%
    Cash Out Refi 105 $20,265,000 $193,000 $2,401 3.17%
    Refi 91 $20,715,000 $227,637 $2,297 3.27%
    Home Improvement 7 $865,000 $123,571 $2,011 3.69%
    Other 2 $250,000 $125,000 $1,180 4.23%

    For 2020, First Midwest Bank Of Dexter's most frequently cited loan purpose was Home Purchase, with 133 originations. The 2nd most popular reason was Cash Out Refi, with 105 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 165 $31,275,000 $189,545 $2,758 3.18%
    15 Year 55 $10,695,000 $194,455 $2,277 2.83%
    3 Year 39 $5,035,000 $129,103 $1,021 4.84%
    Other 32 $5,300,000 $165,625 $1,849 4.11%
    20 Year 27 $4,935,000 $182,778 $2,349 3.10%
    5 Year 8 $2,150,000 $268,750 $0 4.71%
    10 Year 7 $895,000 $127,857 $2,378 3.19%
    1 Year 5 $815,000 $163,000 $2,087 5.10%

    For 2020, First Midwest Bank Of Dexter's most frequently cited loan duration was 30 Year, with 165 originations. The 2nd most popular length was 15 Year, with 55 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 170 $32,500,000 $191,176
    $1k-2k 81 $15,375,000 $189,815
    $2k-3k 9 $2,075,000 $230,556

    First Midwest Bank Of Dexter's average total fees were $2,758, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 170 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 115 $22,485,000 $195,522
    3-4% 115 $20,675,000 $179,783
    4-5% 67 $9,195,000 $137,239
    <2.5% 29 $7,535,000 $259,828
    5-6% 12 $1,210,000 $100,833

    During 2020, First Midwest Bank Of Dexter's average interest rate for loans was 3.18%, while their most frequently originated rate bucket for loans was 2.5-3%, with 115 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 151 $21,805,000 $144,404 $2,595 3.34%
    $200k-400k 83 $22,205,000 $267,530 $2,507 3.22%
    $100,000 or less 81 $5,055,000 $62,407 $2,317 4.02%
    $400k-600k 21 $9,725,000 $463,095 $2,838 3.01%
    $1MM+ 1 $1,355,000 $1,355,000 $0 4.95%
    $600k-1MM 1 $955,000 $955,000 $0 4.00%

    2020 saw First Midwest Bank Of Dexter place emphasis on $100k-200k loans with 151 originations, totaling $21,805,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 66 $14,010,000 $212,273 $2,441 3.12%
    $75k-100k 64 $10,100,000 $157,813 $2,908 3.52%
    $50k-75k 59 $8,255,000 $139,915 $2,360 3.36%
    $50k or less 56 $5,640,000 $100,714 $2,555 3.38%
    $150k-250k 31 $8,065,000 $260,161 $2,565 3.22%
    $250k+ 22 $7,480,000 $340,000 $2,285 3.32%

    First Midwest Bank Of Dexter lent most frequently to those with incomes in the $100k-150k range, with 66 originations. The second most popular income band? $75k-100k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 85 $15,755,000 $185,353 $2,847 3.13%
    30-36% 60 $12,130,000 $202,167 $2,408 3.22%
    <20% 55 $9,675,000 $175,909 $2,165 3.36%
    36% 13 $2,375,000 $182,692 $2,870 3.33%
    37% 13 $2,155,000 $165,769 $2,918 3.15%
    40% 9 $1,075,000 $119,444 $2,256 3.29%
    38% 7 $1,605,000 $229,286 $2,943 2.88%
    41% 7 $1,205,000 $172,143 $2,618 2.91%
    42% 5 $795,000 $159,000 $2,491 3.08%
    43% 5 $1,165,000 $233,000 $2,192 3.18%
    44% 5 $855,000 $171,000 $2,347 3.23%
    47% 3 $805,000 $268,333 $3,253 2.83%
    39% 3 $525,000 $175,000 $1,585 2.71%
    46% 2 $340,000 $170,000 $2,493 3.06%
    50-60% 2 $410,000 $205,000 $3,045 4.31%
    48% 2 $290,000 $145,000 $1,102 2.87%
    45% 2 $720,000 $360,000 $2,728 2.56%
    49% 1 $285,000 $285,000 $2,383 2.88%

    First Midwest Bank Of Dexter lent most frequently to those with DTI ratios of 20-30%, with 85 originations. The next most common DTI ratio? 30-36%, with 60 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 300 $53,560,000 $178,533 $2,552 3.32%
    Not applicable 35 $6,735,000 $192,429 $0 4.65%
    Not provided 1 $445,000 $445,000 $2,380 3.00%
    Black 2 $360,000 $180,000 $1,179 3.72%

    Approval Rates

    Total approvals of all applications
    95.53%

    First Midwest Bank Of Dexter 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
    92.90%

    First Midwest Bank Of Dexter has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    1358.33 1 $135,000 $135,000
    NA 337 $60,965,000 $180,905

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $3,700,000 $616,667
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 331 $57,375,000 $173,338

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $3,075,000 $180,882 $2,113 3.15%
    40-60% 48 $8,840,000 $184,167 $2,548 3.40%
    60-80% 165 $31,185,000 $189,000 $2,402 3.47%
    80-100% 103 $17,555,000 $170,437 $2,813 3.49%
    Over 100% 2 $140,000 $70,000 $4,279 4.00%
    Under 20% 3 $305,000 $101,667 $0 4.43%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRST MIDWEST BANCORP, INC. Conventional home mortgage Trouble during payment process 1 25.0%
    FIRST MIDWEST BANCORP, INC. Home equity loan or line of credit (HELOC) Closing on a mortgage 1 25.0%
    FIRST MIDWEST BANCORP, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 50.0%

    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 $24,721
    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 $58,892
    First Midwest Bank of Dexter 630 North Main Sikeston, MO 63801 Full Service B&M $63,836
    First Midwest Bank of Dexter 819 West Business Highway 60 Dexter, MO 63841 Full Service B&M $228,804
    First Midwest Bank of Dexter 912 South Main Street, Suite 100 Sikeston, MO 63801 Full Service B&M $0

    For 2020, First Midwest Bank Of Dexter had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,038
    Net interest income $14,291
    Total noninterest income $3,005
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $554
    Trading account gains and fees $0
    Additional Noninterest Income $2,451
    Pre-tax net operating income $7,150
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,490
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,490
    Minority interest net income $0
    Net income $6,490
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,490

    First Midwest Bank Of Dexter's gross interest income from loans was $17,038,000.
    First Midwest Bank Of Dexter's net interest income from loans was $14,291,000.
    First Midwest Bank Of Dexter's fee based income from loans was $554,000.
    First Midwest Bank Of Dexter's net income from loans was $6,490,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,747
    Provision for credit losses $300
    Total noninterest expense $9,846
    Salaries and employee benefits $5,935
    Premises and equipment expense $1,193
    Additional noninterest expense $2,718
    Applicable income taxes $660
    Net charge-offs $93
    Cash dividends $2,736

    First Midwest Bank Of Dexter's interest expense for loans was $2,747,000.
    First Midwest Bank Of Dexter's payroll and benefits expense were $5,935,000.
    First Midwest Bank Of Dexter's property, plant and equipment expenses $1,193,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    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 1.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $392,049
    Deposits held in domestic offices $392,049
    Deposits by Individuals, partnerships, and corporations $385,179
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $6,870
    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 $183,582
    Demand deposits $62,838
    Nontransaction accounts $208,467
    Money market deposit accounts (MMDAs) $86,947
    Other savings deposits (excluding MMDAs) $17,500
    Total time deposits $104,020
    Total time and savings deposits $329,211
    Noninterest-bearing deposits $124,468
    Interest-bearing deposits $267,581
    Retail deposits $358,251
    IRAs and Keogh plan accounts $10,732
    Brokered deposits $5,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $437,382
    Cash & Balances due from depository institutions $65,214
    Interest-bearing balances $55,846
    Total securities $11,900
    Federal funds sold & reverse repurchase $0
    Net loans and leases $341,264
    Loan and leases loss allowance $3,450
    Trading account assets $0
    Bank premises and fixed assets $10,457
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $8,547

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $437,382
    Total Liabilities $394,183
    Total deposits $392,049
    Interest-bearing deposits $267,581
    Deposits held in domestic offices $392,049
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $1,323
    Subordinated debt $0
    All other liabilities $811

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $341,264
    Loan and leases loss allowance $3,450
    Total loans and leases (domestic) $344,714
    All real estate loans $185,735
    Real estate loans in domestic offices $185,735
    Construction and development loans $21,352
    Residential 1-4 family construction $8,189
    Other construction, all land development and other land $13,163
    Loans secured by nonfarm nonresidential properties $87,867
    Nonfarm nonresidential secured by owner-occupied properties $19,047
    Commercial real estate & other non-farm, non-residential $68,820
    Multifamily residential real estate $6,579
    1-4 family residential loans $48,490
    Farmland loans $21,447
    Loans held in foreign offices $0
    Farm loans $15,246
    Commercial and industrial loans $136,372
    To non-U.S. addressees $0
    Loans to individuals $7,361
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $5,675
    Other loans to individuals $1,686
    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 $341,264,000 of loans outstanding in 2020. $185,735,000 of loans were in real estate loans. $21,352,000 of loans were in development loans. $6,579,000 of loans were in multifamily mortgage loans. $48,490,000 of loans were in 1-4 family mortgage loans. $15,246,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,675,000 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 169 $29,150 $172,485
    Nonfarm, nonresidential loans - <$100k 66 $2,290 $34,697
    Nonfarm, nonresidential loans - $100-250k 51 $9,320 $182,745
    Nonfarm, nonresidential loans - $250k-1MM 52 $17,540 $337,308
    Commercial & Industrial, US addressed loans - <$1MM 762 $77,161 $101,261
    Commercial & Industrial, US addressed loans - <$100k 462 $12,055 $26,093
    Commercial & Industrial, US addressed loans - $100-250k 177 $24,158 $136,486
    Commercial & Industrial, US addressed loans - $250k-1MM 123 $40,948 $332,911
    Farmland loans - <$1MM 56 $8,156 $145,643
    Farmland loans - <$100k 17 $834 $49,059
    Farmland loans - $100-250k 27 $3,977 $147,296
    Farmland loans - $250k-1MM 12 $3,345 $278,750
    Agriculture operations loans - <$1MM 33 $1,257 $38,091
    Agriculture operations loans - <$100k 27 $522 $19,333
    Agriculture operations loans - $100-250k 3 $299 $99,667
    Agriculture operations loans - $250k-1MM 3 $436 $145,333