First Western Bank & Trust Mortgage Rates, Fees & Info

Minot, ND

LEI: 5493005A0757T9GRRI44

Tax ID: 45-0279825

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Mortgage Data

Bank Data

Review & Overview

First Western Bank & Trust is a smaller bank specializing in Home Purchase loans. First Western Bank & Trust has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Minot, Minneapolis, Bismarck, Fargo, and Palm Bay among others. We have data for 7 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 an above average pick rate when compared to similar lenders.

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 6.38% 3/24/24
30 Year Conventional Refi 6.36% 3/24/24
30 Year Cash-out Refi 6.52% 3/24/24
30 Year FHA Purchase 7.04% 3/24/24
30 Year FHA Refi 6.47% 3/24/24
30 Year VA Purchase 5.95% 3/24/24
30 Year VA Refi 5.81% 3/24/24
30 Year USDA Purchase 6.39% 3/24/24
30 Year USDA Refi 6.59% 3/24/24
15 Year Conventional Purchase 5.88% 3/24/24
15 Year Conventional Refi 5.88% 3/24/24
15 Year Cash-out Refi 5.88% 3/24/24
15 Year FHA Refi 5.68% 3/24/24
15 Year VA Purchase 5.68% 3/24/24
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.

First Western Bank & Trust Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from First Western Bank & Trust. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

187

Origination Dollar Volume (All Markets)

$48,135,000

Employee count

201

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
Minot, ND (FHA|USDA|VA) 130 $20,990,000 $161,462 $0 0.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 22 $19,780,000 $899,091 $0 0.00%
BISMARCK, ND (FHA|USDA|VA) 19 $4,105,000 $216,053 $0 0.00%
Outside of Metro Areas 12 $2,240,000 $186,667 $0 0.00%
FARGO, ND-MN (FHA|USDA|VA) 2 $530,000 $265,000 $0 0.00%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
GRAND FORKS, ND-MN (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
First Western Bank & Trust's top markets include Minot, Minneapolis, Bismarck, Fargo, and Palm Bay among others.

Their top states include:
  • North Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against First Western Bank & Trust 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 157 $42,225,000 $268,949 $0 0.00%
    FHA 20 $3,260,000 $163,000 $0 0.00%
    VA 10 $2,650,000 $265,000 $0 0.00%

    For 2019, First Western Bank & Trust's most frequently originated type of loan was Conventional, with 157 originations. Their 2nd most popular type was FHA, with 20 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 102 $35,960,000 $352,549 $0 0.00%
    Refi 33 $4,875,000 $147,727 $0 0.00%
    Cash Out Refi 31 $5,385,000 $173,710 $0 0.00%
    Other 12 $1,270,000 $105,833 $0 0.00%
    Home Improvement 9 $645,000 $71,667 $0 0.00%

    For 2019, First Western Bank & Trust's most frequently cited loan purpose was Home Purchase, with 102 originations. The 2nd most popular reason was Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 187 $48,135,000 $257,406 $0 0.00%

    For 2019, First Western Bank & Trust's most frequently cited loan duration was Other, with 187 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 68 $10,110,000 $148,676 $0 0.00%
    $100,000 or less 56 $3,350,000 $59,821 $0 0.00%
    $200k-400k 55 $15,325,000 $278,636 $0 0.00%
    $400k-600k 6 $2,680,000 $446,667 $0 0.00%
    $1MM+ 1 $15,905,000 $15,905,000 $0 0.00%
    $600k-1MM 1 $765,000 $765,000 $0 0.00%

    2019 saw First Western Bank & Trust place emphasis on $100k-200k loans with 68 originations, totaling $10,110,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 32 $4,330,000 $135,313 $0 0.00%
    $75k-100k 31 $5,905,000 $190,484 $0 0.00%
    $100k-150k 27 $5,225,000 $193,519 $0 0.00%
    $50k or less 17 $1,675,000 $98,529 $0 0.00%
    $150k-250k 12 $2,730,000 $227,500 $0 0.00%
    $250k+ 4 $1,210,000 $302,500 $0 0.00%

    First Western Bank & Trust lent most frequently to those with incomes in the $50k-75k range, with 32 originations. The second most popular income band? $75k-100k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 187 $48,135,000 $257,406 $0 0.00%

    First Western Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 187 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 149 $27,455,000 $184,262 $0 0.00%
    Not applicable 37 $20,595,000 $556,622 $0 0.00%
    Asian 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.03%

    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 origination
    93.58%

    First Western Bank & Trust has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 187 $48,135,000 $257,406

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $17,350,000 $4,337,500
    Single Family (1-4 Units):Manufactured 8 $720,000 $90,000
    Single Family (1-4 Units):Site-Built 175 $30,065,000 $171,800

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 2 13.3%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 4 26.7%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK VA mortgage Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 3 20.0%
    FIRST HORIZON BANK VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK FHA mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 6.7%

    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 $56,930
    First Western Bank & Trust 2105 16th St Nw Minot, ND 58703 Full Service B&M $10,232
    First Western Bank & Trust 2200 15th St. Sw Minot, ND 58701 Full Service B&M $54,228
    First Western Bank & Trust 304 E Front Avenue Bismarck, ND 58504 Full Service B&M $46,997
    First Western Bank & Trust 900 South Broadway Minot, ND 58701 Full Service B&M $780,050

    For 2019, First Western Bank & Trust had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $47,435
    Net interest income $33,896
    Total noninterest income $8,620
    Gross Fiduciary activities income $1,710
    Service charges on deposit accounts $372
    Trading account gains and fees $0
    Additional Noninterest Income $6,538
    Pre-tax net operating income $13,210
    Securities gains (or losses, -) $77
    Income before extraordinary items $10,600
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,600
    Minority interest net income $0
    Net income $10,600
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,538

    First Western Bank & Trust's gross interest income from loans was $47,435,000.
    First Western Bank & Trust's net interest income from loans was $33,896,000.
    First Western Bank & Trust's fee based income from loans was $372,000.
    First Western Bank & Trust's net income from loans was $10,600,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $13,539
    Provision for credit losses $1,786
    Total noninterest expense $27,520
    Salaries and employee benefits $17,912
    Premises and equipment expense $3,160
    Additional noninterest expense $6,448
    Applicable income taxes $2,687
    Net charge-offs $867
    Cash dividends $21,704

    First Western Bank & Trust's interest expense for loans was $13,539,000.
    First Western Bank & Trust's payroll and benefits expense were $17,912,000.
    First Western Bank & Trust's property, plant and equipment expenses $3,160,000.

    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 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    Commercial & industrial loans 2.0%
    Personal loans 0.0%
    Credit card loans 0.7%
    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 $953,822
    Deposits held in domestic offices $953,822
    Deposits by Individuals, partnerships, and corporations $865,869
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $68,387
    Deposits by Commercial banks and other depository institutions in U.S. $19,566
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $144,478
    Demand deposits $122,919
    Nontransaction accounts $809,344
    Money market deposit accounts (MMDAs) $82,000
    Other savings deposits (excluding MMDAs) $306,640
    Total time deposits $420,704
    Total time and savings deposits $830,903
    Noninterest-bearing deposits $142,504
    Interest-bearing deposits $811,318
    Retail deposits $825,747
    IRAs and Keogh plan accounts $48,238
    Brokered deposits $72,522
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,089,559
    Cash & Balances due from depository institutions $18,484
    Interest-bearing balances $3,171
    Total securities $209,728
    Federal funds sold & reverse repurchase $13,000
    Net loans and leases $775,294
    Loan and leases loss allowance $12,947
    Trading account assets $0
    Bank premises and fixed assets $36,837
    Other real estate owned $2,088
    Goodwill and other intangibles $10,162
    All other assets $23,966

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,089,559
    Total Liabilities $977,545
    Total deposits $953,822
    Interest-bearing deposits $811,318
    Deposits held in domestic offices $953,822
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $11,268
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $12,455

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $775,294
    Loan and leases loss allowance $12,947
    Total loans and leases (domestic) $788,241
    All real estate loans $404,811
    Real estate loans in domestic offices $404,811
    Construction and development loans $52,091
    Residential 1-4 family construction $5,811
    Other construction, all land development and other land $46,280
    Loans secured by nonfarm nonresidential properties $253,978
    Nonfarm nonresidential secured by owner-occupied properties $102,769
    Commercial real estate & other non-farm, non-residential $151,209
    Multifamily residential real estate $35,254
    1-4 family residential loans $44,470
    Farmland loans $19,018
    Loans held in foreign offices $0
    Farm loans $34,912
    Commercial and industrial loans $184,723
    To non-U.S. addressees $840
    Loans to individuals $34,060
    Credit card loans $1,484
    Related Plans $181
    Consumer Auto Loans $8,679
    Other loans to individuals $23,716
    All other loans & leases $129,735
    Loans to foreign governments and official institutions $0
    Other loans $64
    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 $100
    Restructured Loans & leases $13,049
    Non 1-4 family restructured loans & leases $13,039
    Total loans and leases (foreign) $0

    First Western Bank & Trust had $775,294,000 of loans outstanding in 2019. $404,811,000 of loans were in real estate loans. $52,091,000 of loans were in development loans. $35,254,000 of loans were in multifamily mortgage loans. $44,470,000 of loans were in 1-4 family mortgage loans. $34,912,000 of loans were in farm loans. $1,484,000 of loans were in credit card loans. $8,679,000 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 103 $29,459 $286,010
    Nonfarm, nonresidential loans - <$100k 16 $843 $52,688
    Nonfarm, nonresidential loans - $100-250k 37 $4,839 $130,784
    Nonfarm, nonresidential loans - $250k-1MM 50 $23,777 $475,540
    Commercial & Industrial, US addressed loans - <$1MM 385 $35,507 $92,226
    Commercial & Industrial, US addressed loans - <$100k 201 $4,529 $22,532
    Commercial & Industrial, US addressed loans - $100-250k 113 $11,513 $101,885
    Commercial & Industrial, US addressed loans - $250k-1MM 71 $19,465 $274,155
    Farmland loans - <$1MM 58 $7,723 $133,155
    Farmland loans - <$100k 25 $1,049 $41,960
    Farmland loans - $100-250k 17 $2,295 $135,000
    Farmland loans - $250k-1MM 16 $4,379 $273,688
    Agriculture operations loans - <$1MM 90 $7,055 $78,389
    Agriculture operations loans - <$100k 49 $1,261 $25,735
    Agriculture operations loans - $100-250k 26 $2,967 $114,115
    Agriculture operations loans - $250k-1MM 15 $2,827 $188,467