First Western Bank & Trust Mortgage Rates, Fees & Info
Minot, NDLEI: 5493005A0757T9GRRI44
Tax ID: 45-0279825
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Review & Overview
First Western Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. First Western Bank & Trust has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Fargo, Brainerd, Bismarck, Minneapolis, and Alexandria among others. We have data for 48 markets. (Some data included below & more in-depth data is available with an active subscription.)First Western Bank & Trust has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First Western Bank & Trust is typically an average 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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.68% | 12/4/22 |
| 30 Year Conventional Refi | 6.55% | 12/4/22 |
| 30 Year Cash-out Refi | 6.67% | 12/4/22 |
| 30 Year FHA Purchase | 7.50% | 12/4/22 |
| 30 Year FHA Refi | 7.49% | 12/4/22 |
| 30 Year VA Purchase | 6.19% | 12/4/22 |
| 30 Year VA Refi | 6.03% | 12/4/22 |
| 30 Year USDA Purchase | 6.64% | 12/4/22 |
| 30 Year USDA Refi | 6.71% | 12/4/22 |
| 15 Year Conventional Purchase | 5.81% | 12/4/22 |
| 15 Year Conventional Refi | 5.80% | 12/4/22 |
| 15 Year Cash-out Refi | 5.80% | 12/4/22 |
| 15 Year VA Purchase | 5.54% | 12/4/22 |
| 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. | ||
Originations
1,366Origination Dollar Volume (All Markets)
$367,390,000Employee count
344Awards
First Western Bank & Trust - 2021
First Western Bank & Trust is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
First Western Bank & Trust's average 30 year fixed mortgage rate was
2.82%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of -0.33%.
Relative Fees (Closing Costs)
First Western Bank & Trust's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,240.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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 |
|---|---|---|---|---|---|
| FARGO, ND-MN (FHA|USDA|VA) | 284 | $75,540,000 | $265,986 | $3,927 | 3.09% |
| Brainerd, MN (FHA|USDA|VA) | 321 | $75,355,000 | $234,751 | $3,805 | 3.07% |
| BISMARCK, ND (FHA|USDA|VA) | 147 | $48,055,000 | $326,905 | $3,990 | 3.03% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 60 | $47,050,000 | $784,167 | $3,597 | 2.83% |
| Alexandria, MN (FHA|USDA|VA) | 143 | $31,785,000 | $222,273 | $3,841 | 2.79% |
| Minot, ND (FHA|USDA|VA) | 149 | $31,735,000 | $212,987 | $3,905 | 2.95% |
| Outside of Metro Areas | 158 | $28,290,000 | $179,051 | $3,922 | 3.05% |
| Fergus Falls, MN (FHA|USDA|VA) | 20 | $5,290,000 | $264,500 | $4,325 | 2.90% |
| Williston, ND (FHA|USDA|VA) | 2 | $3,060,000 | $1,530,000 | $2,997 | 2.97% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 9 | $2,935,000 | $326,111 | $4,260 | 2.79% |
| ST. CLOUD, MN (FHA|USDA|VA) | 13 | $2,625,000 | $201,923 | $4,161 | 3.00% |
| Jamestown, ND (FHA|USDA|VA) | 5 | $1,495,000 | $299,000 | $4,890 | 3.37% |
| GRAND FORKS, ND-MN (FHA|USDA|VA) | 6 | $1,260,000 | $210,000 | $2,993 | 3.67% |
| Key West, FL (FHA|USDA|VA) | 1 | $1,175,000 | $1,175,000 | $0 | 3.75% |
| Spearfish, SD (FHA|USDA|VA) | 3 | $895,000 | $298,333 | $3,529 | 3.33% |
| Red Wing, MN (FHA|USDA|VA) | 2 | $820,000 | $410,000 | $0 | 4.12% |
| Wahpeton, ND-MN (FHA|USDA|VA) | 4 | $770,000 | $192,500 | $4,095 | 2.87% |
| Willmar, MN (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $3,885 | 2.88% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 2 | $660,000 | $330,000 | $1,704 | 2.88% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $8,775 | 3.13% |
| DULUTH, MN-WI (FHA|USDA|VA) | 3 | $535,000 | $178,333 | $3,709 | 3.77% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 3 | $525,000 | $175,000 | $2,656 | 3.58% |
| NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $4,031 | 2.75% |
| DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $2,457 | 2.56% |
| FLAGSTAFF, AZ (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $14,729 | 2.50% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $1,891 | 3.13% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $7,566 | 2.75% |
| APPLETON, WI (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,206 | 2.50% |
| PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $2,885 | 3.25% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 3.75% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,262 | 2.75% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $3,523 | 2.88% |
| Oxford, MS (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,941 | 2.63% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,290 | 2.38% |
| Scottsbluff, NE (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,276 | 2.63% |
| Grand Rapids, MN (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,289 | 2.75% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,767 | 3.25% |
| LOUISVILLE/JEFFERSON COUNTY, KY-IN (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,510 | 3.38% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,268 | 2.50% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $1,974 | 3.13% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $2,738 | 2.13% |
| Spencer, IA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $2,822 | 3.25% |
| GREELEY, CO (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,895 | 2.00% |
| Lewisburg, TN (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,198 | 2.00% |
| Dickinson, ND (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 3.95% |
| New Ulm, MN (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,673 | 2.25% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $2,413 | 3.00% |
| Hutchinson, MN (FHA|USDA|VA) | 1 | $15,000 | $15,000 | $642 | 4.75% |
Similar Lenders
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Product Mix
For 2021, First Western Bank & Trust's most frequently originated type of loan was Conventional, with 1,181 originations. Their 2nd most popular type was FHA, with 67 originations.
Loan Reason
For 2021, First Western Bank & Trust's most frequently cited loan purpose was Home Purchase, with 737 originations. The 2nd most popular reason was Refi, with 408 originations.
Loan Duration/Length
For 2021, First Western Bank & Trust's most frequently cited loan duration was 30 Year, with 859 originations. The 2nd most popular length was 15 Year, with 185 originations.
Origination Fees/Closing Costs
First Western Bank & Trust's average total fees were $4,240, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 414 originations.
Interest Rates
During 2021, First Western Bank & Trust's average interest rate for loans was 2.82%, while their most frequently originated rate bucket for loans was 2.5-3%, with 497 originations.
Loan Sizing
2021 saw First Western Bank & Trust place emphasis on $200k-400k loans with 593 originations, totaling $162,095,000 in origination value.
Applicant Income
First Western Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 272 originations. The second most popular income band? $100k-150k, with 271 originations.
Applicant Debt to Income Ratio
First Western Bank & Trust lent most frequently to those with DTI ratios of 20-30%, with 328 originations. The next most common DTI ratio? 30-36%, with 226 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.41%
First Western Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination86.02%
First Western Bank & Trust has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 0.0 | 1 | $35,000 | $35,000 |
| 250.0 | 1 | $125,000 | $125,000 |
| 266.35 | 1 | $15,000 | $15,000 |
| 2841.7 | 1 | $465,000 | $465,000 |
| 29.6 | 1 | $65,000 | $65,000 |
| 460.0 | 1 | $55,000 | $55,000 |
| 7.5 | 1 | $35,000 | $35,000 |
| NA | 1,359 | $366,595,000 | $269,753 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST UNITED BANK AND TRUST COMPANY | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First Western Bank & Trust | 100 Prairie Center Drive Eden Prairie, MN 55344 | Full Service B&M | $103,007 |
| First Western Bank & Trust | 3703 Lockport Street Bismarck, ND 58503 | Full Service B&M | $117,373 |
| First Western Bank & Trust | 4040 42nd Street South, Suite O Fargo, ND 58104 | Full Service B&M | $29,136 |
| First Western Bank & Trust | 5411 Lakers Lane Nisswa, MN 56468 | Full Service B&M | $65,213 |
| First Western Bank & Trust | 855 26th Avenue East West Fargo, ND 58078 | Full Service B&M | $70,009 |
| First Western Bank & Trust | 900 South Broadway Minot, ND 58701 | Full Service B&M | $889,170 |
| First Western Bank & Trust | 14084 Baxter Drive, Ste 16 Baxter, MN 56425 | Full Service B&M | $87,348 |
| First Western Bank & Trust | 2105 16th St Nw Minot, ND 58703 | Full Service B&M | $14,016 |
| First Western Bank & Trust | 2200 15th St. Sw Minot, ND 58701 | Full Service B&M | $61,814 |
| First Western Bank & Trust | 228 Oak St N Miltona, MN 56354 | Full Service B&M | $15,014 |
| First Western Bank & Trust | 23964 Smiley Road Nisswa, MN 56468 | Full Service Retail | $18,077 |
| First Western Bank & Trust | 301 Main Avenue Carlos, MN 56319 | Full Service B&M | $22,945 |
| First Western Bank & Trust | 304 E Front Avenue Bismarck, ND 58504 | Full Service B&M | $71,002 |
| First Western Bank & Trust | 3313 Highway 29 South Alexandria, MN 56308 | Full Service B&M | $78,579 |
| First Western Bank & Trust | 35563 County Road 3 Crosslake, MN 56442 | Full Service Retail | $26,321 |
For 2021, First Western Bank & Trust had 15 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $80,679 |
| Net interest income | $69,092 |
| Total noninterest income | $12,581 |
| Gross Fiduciary activities income | $3,842 |
| Service charges on deposit accounts | $694 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $8,045 |
| Pre-tax net operating income | $25,749 |
| Securities gains (or losses, -) | $133 |
| Income before extraordinary items | $19,546 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $19,546 |
| Minority interest net income | $0 |
| Net income | $19,546 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $19,440 |
First Western Bank & Trust's gross interest income from loans was $80,679,000.
First Western Bank & Trust's net interest income from loans was $69,092,000.
First Western Bank & Trust's fee based income from loans was $694,000.
First Western Bank & Trust's net income from loans was $19,546,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $11,587 |
| Provision for credit losses | $2,204 |
| Total noninterest expense | $53,720 |
| Salaries and employee benefits | $35,327 |
| Premises and equipment expense | $4,714 |
| Additional noninterest expense | $13,679 |
| Applicable income taxes | $6,336 |
| Net charge-offs | $870 |
| Cash dividends | $5,572 |
First Western Bank & Trust's interest expense for loans was $11,587,000.
First Western Bank & Trust's payroll and benefits expense were $35,327,000.
First Western Bank & Trust's property, plant and equipment expenses $4,714,000.
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 | 1.0% |
| 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 | 0.1% |
| 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 | $1,737,378 |
| Deposits held in domestic offices | $1,737,378 |
| Deposits by Individuals, partnerships, and corporations | $1,627,478 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $98,006 |
| Deposits by Commercial banks and other depository institutions in U.S. | $11,894 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $230,695 |
| Demand deposits | $179,318 |
| Nontransaction accounts | $1,506,683 |
| Money market deposit accounts (MMDAs) | $399,223 |
| Other savings deposits (excluding MMDAs) | $649,022 |
| Total time deposits | $458,438 |
| Total time and savings deposits | $1,558,060 |
| Noninterest-bearing deposits | $366,707 |
| Interest-bearing deposits | $1,370,671 |
| Retail deposits | $1,612,256 |
| IRAs and Keogh plan accounts | $66,521 |
| Brokered deposits | $39,502 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,964,726 |
| Cash & Balances due from depository institutions | $232,417 |
| Interest-bearing balances | $197,951 |
| Total securities | $267,725 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,342,323 |
| Loan and leases loss allowance | $17,163 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $46,696 |
| Other real estate owned | $104 |
| Goodwill and other intangibles | $45,363 |
| All other assets | $30,098 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,964,726 |
| Total Liabilities | $1,756,568 |
| Total deposits | $1,737,378 |
| Interest-bearing deposits | $1,370,671 |
| Deposits held in domestic offices | $1,737,378 |
| % insured (estimated) | $92 |
| Federal funds purchased and repurchase agreements | $5,689 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $13,501 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,342,323 |
| Loan and leases loss allowance | $17,163 |
| Total loans and leases (domestic) | $1,359,486 |
| All real estate loans | $842,310 |
| Real estate loans in domestic offices | $842,310 |
| Construction and development loans | $118,964 |
| Residential 1-4 family construction | $26,026 |
| Other construction, all land development and other land | $92,938 |
| Loans secured by nonfarm nonresidential properties | $422,947 |
| Nonfarm nonresidential secured by owner-occupied properties | $168,164 |
| Commercial real estate & other non-farm, non-residential | $254,783 |
| Multifamily residential real estate | $68,624 |
| 1-4 family residential loans | $188,228 |
| Farmland loans | $43,547 |
| Loans held in foreign offices | $0 |
| Farm loans | $49,230 |
| Commercial and industrial loans | $257,897 |
| To non-U.S. addressees | $1,475 |
| Loans to individuals | $46,584 |
| Credit card loans | $1,635 |
| Related Plans | $1,616 |
| Consumer Auto Loans | $10,561 |
| Other loans to individuals | $32,772 |
| All other loans & leases | $163,466 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $4,230 |
| 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 | $150 |
| Restructured Loans & leases | $32,539 |
| Non 1-4 family restructured loans & leases | $32,539 |
| Total loans and leases (foreign) | $0 |
First Western Bank & Trust had $1,342,323,000 of loans outstanding in 2021. $842,310,000 of loans were in real estate loans. $118,964,000 of loans were in development loans. $68,624,000 of loans were in multifamily mortgage loans. $188,228,000 of loans were in 1-4 family mortgage loans. $49,230,000 of loans were in farm loans. $1,635,000 of loans were in credit card loans. $10,561,000 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 | 292 | $71,540 | $245,000 |
| Nonfarm, nonresidential loans - <$100k | 50 | $1,847 | $36,940 |
| Nonfarm, nonresidential loans - $100-250k | 109 | $14,661 | $134,505 |
| Nonfarm, nonresidential loans - $250k-1MM | 133 | $55,032 | $413,774 |
| Commercial & Industrial, US addressed loans - <$1MM | 901 | $66,223 | $73,499 |
| Commercial & Industrial, US addressed loans - <$100k | 564 | $11,653 | $20,661 |
| Commercial & Industrial, US addressed loans - $100-250k | 177 | $16,116 | $91,051 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 160 | $38,454 | $240,338 |
| Farmland loans - <$1MM | 105 | $13,731 | $130,771 |
| Farmland loans - <$100k | 40 | $1,688 | $42,200 |
| Farmland loans - $100-250k | 43 | $5,669 | $131,837 |
| Farmland loans - $250k-1MM | 22 | $6,374 | $289,727 |
| Agriculture operations loans - <$1MM | 123 | $7,660 | $62,276 |
| Agriculture operations loans - <$100k | 74 | $1,503 | $20,311 |
| Agriculture operations loans - $100-250k | 24 | $1,880 | $78,333 |
| Agriculture operations loans - $250k-1MM | 25 | $4,277 | $171,080 |
