Bankwest Mortgage Rates, Fees & Info

PIERRE, SD

LEI: 5493007YN2BYYXCI7W64

Tax ID: 46-0177475

5 stars - out of 5 stars, based on 33 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Bankwest is a smaller bank specializing in Home Purchase loans. Bankwest 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.) Their top markets include Pierre, Rapid City, Mitchell, Minneapolis, and Sioux Falls among others. Bankwest has a below average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Bankwest is typically an average fee lendor.


Originations

1,064

Origination Dollar Volume (All Markets)

$179,760,000

Employee count

356 Show all (17) awards

Relative Rate

Bankwest 's average 30 year fixed rate mortgage of loans were 2.67%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.48%.

Relative Fees

Bankwest 's average total fees for a 30 year fixed rate mortgage are $4,160.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 289 $54,275,000 $187,803 $4,033 3.66%
Pierre, SD (FHA|USDA|VA) 225 $41,245,000 $183,311 $3,441 3.16%
RAPID CITY, SD (FHA|USDA|VA) 137 $31,605,000 $230,693 $4,584 3.69%
Mitchell, SD (FHA|USDA|VA) 87 $15,025,000 $172,701 $3,745 2.80%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 94 $7,630,000 $81,170 $5,323 6.43%
SIOUX FALLS, SD (FHA|USDA|VA) 81 $6,785,000 $83,765 $3,314 5.55%
Spearfish, SD (FHA|USDA|VA) 33 $5,235,000 $158,636 $3,448 4.39%
Williston, ND (FHA|USDA|VA) 14 $1,970,000 $140,714 $5,332 4.19%
Gillette, WY (FHA|USDA|VA) 8 $1,800,000 $225,000 $5,650 3.65%
Vermillion, SD (FHA|USDA|VA) 4 $1,390,000 $347,500 $9,432 3.19%
Brookings, SD (FHA|USDA|VA) 7 $1,295,000 $185,000 $2,177 4.90%
Huron, SD (FHA|USDA|VA) 8 $950,000 $118,750 $3,309 2.14%
BILLINGS, MT (FHA|USDA|VA) 6 $870,000 $145,000 $8,100 4.93%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $760,000 $380,000 $3,728 2.38%
Yankton, SD (FHA|USDA|VA) 5 $705,000 $141,000 $5,878 5.10%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 4 $650,000 $162,500 $8,050 5.55%
BISMARCK, ND (FHA|USDA|VA) 6 $650,000 $108,333 $3,635 5.10%
Jamestown, ND (FHA|USDA|VA) 4 $620,000 $155,000 $0 6.54%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $515,000 $515,000 $3,821 2.75%
Kearney, NE (FHA|USDA|VA) 3 $485,000 $161,667 $4,531 5.91%
Minot, ND (FHA|USDA|VA) 4 $470,000 $117,500 $0 6.35%
FORT COLLINS, CO (FHA|USDA|VA) 1 $455,000 $455,000 $7,661 2.88%
Marshall, MN (FHA|USDA|VA) 2 $380,000 $190,000 $3,334 2.44%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $325,000 $325,000 $6,097 3.38%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $325,000 $325,000 $7,500 2.75%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $295,000 $295,000 $4,196 3.25%
Scottsboro, AL (FHA|USDA|VA) 1 $255,000 $255,000 $0 2.99%
Watertown, SD (FHA|USDA|VA) 3 $235,000 $78,333 $0 6.60%
Aberdeen, SD (FHA|USDA|VA) 4 $230,000 $57,500 $0 6.65%
KANSAS CITY, MO-KS (FHA|USDA|VA) 1 $215,000 $215,000 $4,092 2.38%
GRAND FORKS, ND-MN (FHA|USDA|VA) 2 $200,000 $100,000 $0 6.43%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $195,000 $195,000 $2,498 2.13%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $185,000 $185,000 $2,952 3.25%
Rockport, TX (FHA|USDA|VA) 1 $185,000 $185,000 $3,338 2.63%
Dickinson, ND (FHA|USDA|VA) 2 $170,000 $85,000 $0 6.48%
Brainerd, MN (FHA|USDA|VA) 1 $105,000 $105,000 $2,251 2.75%
HOMOSASSA SPRINGS, FL (FHA|USDA|VA) 1 $105,000 $105,000 $2,784 2.13%
Red Wing, MN (FHA|USDA|VA) 2 $100,000 $50,000 $0 7.38%
BOULDER, CO (FHA|USDA|VA) 1 $95,000 $95,000 $3,285 2.75%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $95,000 $95,000 $1,861 2.75%
LINCOLN, NE (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.10%
CASPER, WY (FHA|USDA|VA) 1 $75,000 $75,000 $0 7.50%
Kalispell, MT (FHA|USDA|VA) 1 $65,000 $65,000 $0 6.35%
DULUTH, MN-WI (FHA|USDA|VA) 1 $65,000 $65,000 $0 9.20%
MANKATO, MN (FHA|USDA|VA) 2 $60,000 $30,000 $0 6.10%
Sheridan, WY (FHA|USDA|VA) 1 $55,000 $55,000 $0 6.10%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.60%
Austin, MN (FHA|USDA|VA) 1 $45,000 $45,000 $0 5.85%
Fremont, NE (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.35%
Bozeman, MT (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.45%
Rock Springs, WY (FHA|USDA|VA) 1 $35,000 $35,000 $0 6.45%
CHEYENNE, WY (FHA|USDA|VA) 1 $35,000 $35,000 $0 8.25%
Wahpeton, ND-MN (FHA|USDA|VA) 1 $25,000 $25,000 $0 5.85%

Bankwest 's top markets include Pierre, Rapid City, Mitchell, Minneapolis, and Sioux Falls among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 898 $149,070,000 $166,002 $3,459 4.27%
USDA 90 $14,370,000 $159,667 $4,701 2.61%
FHA 41 $7,245,000 $176,707 $6,542 2.76%
VA 35 $9,075,000 $259,286 $5,223 2.50%

For the 2021 period, Bankwest 's most frequently originated loan type of loans were Conventional, with 898 originations. Their 2nd most popular type is USDA, with 90 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 738 $122,240,000 $165,637 $4,167 4.38%
Refi 168 $32,850,000 $195,536 $3,410 3.04%
Cash Out Refi 134 $22,990,000 $171,567 $3,967 3.28%
Home Improvement 16 $820,000 $51,250 $1,183 4.37%
Other 8 $860,000 $107,500 $4,434 1.97%

For the 2021, Bankwest 's most frequently cited loan purpose of loans were Home Purchase, with 738 originations. The 2nd most popular reason of loans were Refi, with 168 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 493 $97,405,000 $197,576 $4,160 2.67%
15 Year 225 $22,175,000 $98,556 $3,108 4.76%
20 Year 128 $17,390,000 $135,859 $3,347 5.78%
10 Year 92 $18,980,000 $206,304 $2,579 4.77%
Other 82 $11,870,000 $144,756 $4,842 6.09%
5 Year 32 $9,170,000 $286,563 $0 4.74%
1 Year 11 $2,115,000 $192,273 $6,318 4.84%
3 Year 1 $655,000 $655,000 $0 3.75%

For the 2021, Bankwest 's most frequently cited loan length of loans were 30 Year, with 493 originations. The 2nd most popular length of loans were 15 Year, with 225 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 364 $63,490,000 $174,423
$1k-2k 110 $15,220,000 $138,364
$2k-3k 98 $17,120,000 $174,694
$3k-4k 69 $20,585,000 $298,333
$5k+ 9 $4,205,000 $467,222

$4,160 of loans were Bankwest 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 364 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 280 $54,760,000 $195,571
<2.5% 247 $46,065,000 $186,498
6-7% 196 $16,240,000 $82,857
3-4% 143 $40,995,000 $286,678
5-6% 67 $4,585,000 $68,433
4-5% 54 $12,310,000 $227,963
7-8% 53 $3,095,000 $58,396
Over 8% 24 $1,710,000 $71,250

During 2021, Bankwest 's average interest rate of loans were 2.67%, while their most frequently originated rate bucket of loans were 2.5-3%, with 280 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 401 $21,955,000 $54,751 $2,330 5.16%
$100k-200k 373 $54,905,000 $147,198 $3,774 3.58%
$200k-400k 238 $62,330,000 $261,891 $4,775 2.98%
$400k-600k 42 $19,790,000 $471,190 $5,752 2.91%
$1MM+ 7 $18,745,000 $2,677,857 $0 3.59%
$600k-1MM 3 $2,035,000 $678,333 $0 3.70%

2021 saw Bankwest place emphasis on $100,000 or less loans with 401 originations, totaling $21,955,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 309 $39,255,000 $127,039 $3,745 4.21%
$50k or less 208 $17,830,000 $85,721 $3,290 4.36%
$75k-100k 178 $27,730,000 $155,787 $4,373 4.10%
$100k-150k 164 $33,050,000 $201,524 $4,488 3.52%
$150k-250k 67 $15,115,000 $225,597 $3,846 3.87%
$250k+ 24 $6,640,000 $276,667 $4,319 3.45%

Bankwest lent most frequently to those with incomes in the $50k-75k range, with 309 originations. The second most popular income band? $50k or less, with 208 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 255 $37,935,000 $148,765 $3,726 3.70%
30-36% 212 $28,930,000 $136,462 $3,777 4.08%
<20% 79 $12,995,000 $164,494 $3,256 3.36%
39% 48 $7,910,000 $164,792 $3,765 3.89%
37% 39 $6,405,000 $164,231 $4,976 4.24%
36% 37 $5,175,000 $139,865 $4,516 3.96%
41% 35 $4,675,000 $133,571 $4,345 4.32%
42% 34 $5,220,000 $153,529 $3,742 4.81%
44% 34 $5,870,000 $172,647 $4,079 4.11%
38% 32 $4,860,000 $151,875 $3,756 4.18%
40% 31 $4,625,000 $149,194 $4,378 4.13%
43% 29 $5,385,000 $185,690 $5,229 4.18%
45% 20 $2,640,000 $132,000 $4,118 4.47%
46% 20 $3,090,000 $154,500 $5,563 4.80%
49% 19 $1,975,000 $103,947 $3,900 4.67%
47% 17 $2,935,000 $172,647 $4,559 4.70%
48% 13 $1,775,000 $136,538 $3,760 5.01%
50-60% 12 $1,670,000 $139,167 $4,330 3.97%
>60% 1 $25,000 $25,000 $0 5.60%

Bankwest lent most frequently to those with DTI ratios of 20-30%, with 255 originations. The next most common DTI ratio? 30-36%, with 212 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 868 $133,290,000 $153,560 $3,940 3.88%
Not applicable 79 $34,155,000 $432,342 $0 4.10%
Not provided 59 $6,505,000 $110,254 $3,959 4.93%
American Indian 36 $3,840,000 $106,667 $3,416 4.68%
Asian 12 $840,000 $70,000 $1,724 5.09%
Black 5 $695,000 $139,000 $4,853 5.42%
Korean 1 $185,000 $185,000 $4,692 2.88%
Native Hawaiian 2 $140,000 $70,000 $0 7.53%
Other Pacific Islander 1 $55,000 $55,000 $0 8.00%
Other Asian 1 $55,000 $55,000 $0 7.00%

Approval Rates

Total approvals of all applications
66.32%

Bankwest has a low approval rate. They may have poor market targeting or stringent lending standards.

Pick Rate

Approvals leading to origination
76.15%

Bankwest has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 1 $65,000 $65,000
1060.0 16 $440,000 $27,500
1063.03 1 $25,000 $25,000
1071.36 1 $25,000 $25,000
1078.27 1 $25,000 $25,000
1081.99 1 $25,000 $25,000
1092.46 1 $25,000 $25,000
1101.15 1 $25,000 $25,000
1102.2 1 $25,000 $25,000
1110.49 1 $25,000 $25,000
1121.14 1 $25,000 $25,000
1128.1 1 $25,000 $25,000
1134.02 1 $25,000 $25,000
1136.64 1 $25,000 $25,000
1138.21 1 $25,000 $25,000
1150.17 1 $35,000 $35,000
1161.85 1 $35,000 $35,000
1165.44 1 $35,000 $35,000
1169.2 1 $35,000 $35,000
1175.88 1 $35,000 $35,000
1199.49 1 $35,000 $35,000
1200.8 1 $35,000 $35,000
1205.91 1 $35,000 $35,000
1212.54 1 $25,000 $25,000
1218.6 1 $35,000 $35,000
1223.5 1 $35,000 $35,000
1230.8 1 $35,000 $35,000
1238.87 1 $35,000 $35,000
1238.98 1 $35,000 $35,000
1240.84 1 $25,000 $25,000
1241.5 1 $35,000 $35,000
1252.91 1 $35,000 $35,000
1254.44 1 $35,000 $35,000
1260.8 1 $35,000 $35,000
1262.02 1 $35,000 $35,000
1264.26 1 $35,000 $35,000
1275.2 1 $35,000 $35,000
1281.0 1 $35,000 $35,000
1282.87 1 $35,000 $35,000
1283.45 1 $25,000 $25,000
1290.33 1 $35,000 $35,000
1290.68 1 $35,000 $35,000
1290.8 1 $35,000 $35,000
1291.78 1 $35,000 $35,000
1303.25 1 $35,000 $35,000
1310.69 1 $35,000 $35,000
1321.2 1 $35,000 $35,000
1331.13 1 $35,000 $35,000
1334.0 1 $35,000 $35,000
1335.8 1 $35,000 $35,000
1342.07 1 $35,000 $35,000
1342.73 1 $35,000 $35,000
1352.58 1 $45,000 $45,000
1361.2 1 $45,000 $45,000
1363.78 1 $45,000 $45,000
1367.19 1 $35,000 $35,000
1371.0 1 $45,000 $45,000
1371.89 1 $45,000 $45,000
1374.18 1 $45,000 $45,000
1383.53 1 $45,000 $45,000
1391.41 1 $45,000 $45,000
1392.35 1 $45,000 $45,000
1395.6 1 $45,000 $45,000
1400.19 1 $45,000 $45,000
1408.9 1 $45,000 $45,000
1413.3 1 $45,000 $45,000
1414.0 1 $45,000 $45,000
1417.63 1 $45,000 $45,000
1418.13 1 $45,000 $45,000
1419.1 1 $45,000 $45,000
1419.2 1 $45,000 $45,000
1420.68 1 $45,000 $45,000
1420.8 1 $45,000 $45,000
1431.59 1 $45,000 $45,000
1431.6 1 $45,000 $45,000
1435.22 1 $45,000 $45,000
1446.8 1 $45,000 $45,000
1450.0 1 $75,000 $75,000
1451.4 1 $45,000 $45,000
1456.52 1 $45,000 $45,000
1461.88 1 $45,000 $45,000
1462.31 1 $45,000 $45,000
1467.06 1 $45,000 $45,000
1467.91 1 $45,000 $45,000
1469.63 1 $45,000 $45,000
1469.73 1 $45,000 $45,000
1472.63 1 $45,000 $45,000
1477.2 1 $45,000 $45,000
1477.49 1 $45,000 $45,000
1480.7 1 $45,000 $45,000
1498.46 1 $45,000 $45,000
1503.6 1 $45,000 $45,000
1505.33 1 $45,000 $45,000
1507.52 1 $45,000 $45,000
1508.91 1 $35,000 $35,000
1512.69 1 $45,000 $45,000
1517.48 1 $45,000 $45,000
1525.02 1 $45,000 $45,000
1532.8 1 $45,000 $45,000
1537.2 1 $45,000 $45,000
1543.32 1 $55,000 $55,000
1543.37 1 $55,000 $55,000
1545.34 1 $55,000 $55,000
1550.22 1 $45,000 $45,000
1565.57 1 $55,000 $55,000
1565.8 1 $45,000 $45,000
1566.8 1 $55,000 $55,000
1569.86 1 $55,000 $55,000
1571.2 1 $55,000 $55,000
1587.97 1 $55,000 $55,000
1589.55 1 $55,000 $55,000
1593.81 1 $55,000 $55,000
1599.6 1 $55,000 $55,000
1621.12 1 $55,000 $55,000
1628.1 1 $55,000 $55,000
1642.02 1 $55,000 $55,000
1644.84 1 $55,000 $55,000
1647.6 1 $55,000 $55,000
1648.3 1 $55,000 $55,000
1650.8 1 $55,000 $55,000
1651.6 1 $55,000 $55,000
1656.0 1 $55,000 $55,000
1659.14 1 $55,000 $55,000
1659.24 1 $35,000 $35,000
1662.49 1 $55,000 $55,000
1684.0 1 $55,000 $55,000
1686.8 1 $55,000 $55,000
1688.37 1 $55,000 $55,000
1690.97 1 $55,000 $55,000
1691.2 1 $55,000 $55,000
1725.46 1 $55,000 $55,000
1726.57 1 $55,000 $55,000
1727.98 1 $55,000 $55,000
1732.92 1 $55,000 $55,000
1742.75 1 $65,000 $65,000
1747.66 1 $65,000 $65,000
1748.99 1 $65,000 $65,000
1749.8 1 $65,000 $65,000
1752.03 1 $65,000 $65,000
1761.2 1 $65,000 $65,000
1767.51 1 $65,000 $65,000
1786.56 1 $65,000 $65,000
1792.47 1 $65,000 $65,000
1792.97 1 $65,000 $65,000
1801.19 1 $55,000 $55,000
1809.13 1 $55,000 $55,000
1811.1 1 $65,000 $65,000
1812.06 1 $65,000 $65,000
1818.21 1 $65,000 $65,000
1839.36 1 $65,000 $65,000
1840.04 1 $65,000 $65,000
1849.85 1 $65,000 $65,000
1855.51 1 $65,000 $65,000
1857.53 1 $65,000 $65,000
1863.51 1 $65,000 $65,000
1863.67 1 $65,000 $65,000
1870.35 1 $65,000 $65,000
1893.8 1 $65,000 $65,000
1896.9 1 $65,000 $65,000
1903.47 1 $65,000 $65,000
1909.02 1 $65,000 $65,000
1910.3 1 $65,000 $65,000
1918.49 1 $65,000 $65,000
1919.98 1 $65,000 $65,000
1941.47 1 $75,000 $75,000
1941.72 1 $75,000 $75,000
1964.33 1 $65,000 $65,000
1964.72 1 $75,000 $75,000
1969.2 1 $75,000 $75,000
1971.29 1 $75,000 $75,000
1977.97 1 $75,000 $75,000
1984.57 1 $75,000 $75,000
1989.7 1 $75,000 $75,000
2000.0 1 $125,000 $125,000
2000.4 1 $75,000 $75,000
2003.28 1 $75,000 $75,000
2009.48 1 $75,000 $75,000
2019.62 1 $75,000 $75,000
2028.01 1 $75,000 $75,000
2031.89 1 $75,000 $75,000
2053.48 1 $75,000 $75,000
2053.88 1 $75,000 $75,000
2075.76 1 $75,000 $75,000
2093.23 1 $75,000 $75,000
2100.8 1 $75,000 $75,000
2102.02 1 $75,000 $75,000
2110.74 1 $75,000 $75,000
2110.8 1 $75,000 $75,000
2124.56 1 $75,000 $75,000
2129.2 1 $85,000 $85,000
2167.22 1 $85,000 $85,000
2183.05 1 $85,000 $85,000
2185.2 1 $85,000 $85,000
2189.4 1 $85,000 $85,000
2191.57 1 $85,000 $85,000
2192.09 1 $85,000 $85,000
2227.4 1 $85,000 $85,000
2233.32 1 $85,000 $85,000
2235.78 1 $85,000 $85,000
2269.58 1 $85,000 $85,000
2269.65 1 $85,000 $85,000
2315.25 1 $85,000 $85,000
2326.37 1 $85,000 $85,000
2337.92 1 $95,000 $95,000
2345.04 1 $65,000 $65,000
2354.46 1 $95,000 $95,000
2370.19 1 $95,000 $95,000
2399.78 1 $95,000 $95,000
2419.52 1 $95,000 $95,000
2421.46 1 $95,000 $95,000
2424.48 1 $95,000 $95,000
2452.38 1 $95,000 $95,000
2473.42 1 $95,000 $95,000
2496.22 1 $95,000 $95,000
2508.8 1 $95,000 $95,000
2528.29 1 $55,000 $55,000
2542.8 1 $105,000 $105,000
2550.3 1 $105,000 $105,000
2570.8 1 $105,000 $105,000
2571.2 1 $105,000 $105,000
2571.26 1 $105,000 $105,000
2572.0 1 $105,000 $105,000
2574.0 1 $105,000 $105,000
2575.68 1 $105,000 $105,000
2576.79 1 $105,000 $105,000
2578.19 1 $105,000 $105,000
2606.36 1 $105,000 $105,000
2632.18 1 $105,000 $105,000
2638.2 1 $105,000 $105,000
2674.72 1 $105,000 $105,000
269.27 1 $75,000 $75,000
2693.48 1 $105,000 $105,000
2707.56 1 $105,000 $105,000
2729.67 1 $115,000 $115,000
2744.9 1 $115,000 $115,000
2786.28 1 $65,000 $65,000
2789.2 1 $115,000 $115,000
2793.02 1 $115,000 $115,000
2794.15 1 $115,000 $115,000
2854.85 1 $115,000 $115,000
2923.34 1 $125,000 $125,000
2932.78 1 $125,000 $125,000
2976.49 1 $125,000 $125,000
2983.2 1 $125,000 $125,000
3042.51 1 $125,000 $125,000
3078.06 1 $125,000 $125,000
3081.34 1 $125,000 $125,000
3139.58 1 $135,000 $135,000
3161.4 1 $135,000 $135,000
3202.09 1 $135,000 $135,000
3202.33 1 $135,000 $135,000
3209.96 1 $135,000 $135,000
3329.76 1 $145,000 $145,000
3409.2 1 $145,000 $145,000
3440.99 1 $145,000 $145,000
3461.37 1 $145,000 $145,000
3485.91 1 $145,000 $145,000
3538.11 1 $155,000 $155,000
3575.34 1 $155,000 $155,000
3599.15 1 $155,000 $155,000
3625.01 1 $155,000 $155,000
3788.94 1 $165,000 $165,000
3814.18 1 $165,000 $165,000
4026.96 1 $175,000 $175,000
4038.83 1 $175,000 $175,000
4098.66 1 $185,000 $185,000
4247.85 1 $175,000 $175,000
4271.29 1 $185,000 $185,000
4533.31 1 $205,000 $205,000
4562.18 1 $205,000 $205,000
4878.33 1 $225,000 $225,000
5009.45 1 $225,000 $225,000
5381.23 1 $245,000 $245,000
560.0 1 $95,000 $95,000
800.0 4 $240,000 $60,000
855.24 1 $35,000 $35,000
975.0 1 $55,000 $55,000
NA 769 $159,305,000 $207,159

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,064 $179,760,000 $168,947

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 33 $3,465,000 $105,000 $2,449 3.35%
40-60% 98 $15,300,000 $156,122 $3,399 3.45%
60-80% 305 $65,905,000 $216,082 $3,852 3.90%
80-100% 562 $89,470,000 $159,199 $4,391 4.35%
Over 100% 23 $4,345,000 $188,913 $10,004 5.12%
Under 20% 38 $1,100,000 $28,947 $289 1.68%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
BANK OZK Other type of mortgage Closing on a mortgage 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Bankwest, Inc. 101 Main Street Onida, SD 57564 Full Service B&M $67,159
Bankwest, Inc. 1015 Main Street Kadoka, SD 57543 Full Service B&M $37,298
Bankwest, Inc. 1046 Makenda Ave Madison, SD 57042 Full Service B&M $11,645
Bankwest, Inc. 107 South Highland Avenue Pierre, SD 57501 Full Service B&M $0
Bankwest, Inc. 110 West 2nd Street Winner, SD 57580 Full Service B&M $56,315
Bankwest, Inc. 112 West Main Street Delmont, SD 57330 Full Service B&M $14,778
Bankwest, Inc. 1200 East Spruce Mitchell, SD 57301 Full Service B&M $75,332
Bankwest, Inc. 1611 North Harrison Pierre, SD 57501 Full Service B&M $49,382
Bankwest, Inc. 1920 North Sanborn Boulevard Mitchell, SD 57301 Full Service B&M $36,859
Bankwest, Inc. 210 North Main Street Tripp, SD 57376 Full Service B&M $35,983
Bankwest, Inc. 213 S. Main St. Kennebec, SD 57544 Full Service B&M $42,802
Bankwest, Inc. 218 Main Ave Geddes, SD 57342 Full Service B&M $27,182
Bankwest, Inc. 255 Texas Street Rapid City, SD 57701 Full Service B&M $2,895
Bankwest, Inc. 311 Omaha Street Rapid City, SD 57701 Full Service B&M $73,921
Bankwest, Inc. 420 S Pierre St Pierre, SD 57501 Full Service Cyber Office $4,206
Bankwest, Inc. 420 South Pierre Street Pierre, SD 57501 Limited, Mobile/Seasonal Office $0
Bankwest, Inc. 420 South Pierre Street Pierre, SD 57501 Full Service B&M $506,292
Bankwest, Inc. 4400 Main Street Selby, SD 57472 Full Service B&M $73,166
Bankwest, Inc. 615 Main Street Gregory, SD 57533 Full Service B&M $112,155
Bankwest, Inc. 703 Main Street Armour, SD 57313 Full Service B&M $58,546

For 2021, Bankwest had 20 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $52,030
Net interest income $46,737
Total noninterest income $22,483
Gross Fiduciary activities income $1,678
Service charges on deposit accounts $1,397
Trading account gains and fees $0
Additional Noninterest Income $19,408
Pre-tax net operating income $19,707
Securities gains (or losses, -) $-250
Income before extraordinary items $14,722
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $14,722
Minority interest net income $0
Net income $14,722
Sale, conversion, retirement of capital stock, net $0
Net operating income $14,919

Bankwest 's gross interest income from loans was $52,030,000.
Bankwest 's net interest income from loans was $46,737,000.
Bankwest 's fee based income from loans was $1,397,000.
Bankwest 's net income from loans was $14,722,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $5,293
Provision for credit losses $225
Total noninterest expense $49,288
Salaries and employee benefits $28,693
Premises and equipment expense $9,322
Additional noninterest expense $11,273
Applicable income taxes $4,735
Net charge-offs $409
Cash dividends $5,000

Bankwest 's interest expense for loans was $5,293,000.
Bankwest 's payroll and benefits expense were $28,693,000.
Bankwest 's property, plant and equipment expenses $9,322,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 2.0%
Real Estate loans 1.0%
Construction & Land Development loans 5.0%
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 10.0%
Personal loans 1.0%
Credit card loans 0.0%
Other individual loans 1.0%
Auto loans 0.0%
Other consumer loans 1.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $1,334,882
Deposits held in domestic offices $1,334,882
Deposits by Individuals, partnerships, and corporations $1,182,809
Deposits by U.S. Government $9
Deposits by States and political subdivisions in the U.S. $150,077
Deposits by Commercial banks and other depository institutions in U.S. $1,987
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $635,643
Demand deposits $483,788
Nontransaction accounts $699,239
Money market deposit accounts (MMDAs) $412,347
Other savings deposits (excluding MMDAs) $82,371
Total time deposits $204,521
Total time and savings deposits $851,094
Noninterest-bearing deposits $300,255
Interest-bearing deposits $1,034,628
Retail deposits $1,255,606
IRAs and Keogh plan accounts $23,347
Brokered deposits $52,273
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,502,665
Cash & Balances due from depository institutions $35,179
Interest-bearing balances $20,980
Total securities $499,414
Federal funds sold & reverse repurchase $73,525
Net loans and leases $828,188
Loan and leases loss allowance $13,658
Trading account assets $0
Bank premises and fixed assets $25,483
Other real estate owned $46
Goodwill and other intangibles $4,306
All other assets $36,524

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,502,665
Total Liabilities $1,363,125
Total deposits $1,334,882
Interest-bearing deposits $1,034,628
Deposits held in domestic offices $1,334,882
% insured (estimated) $51
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $28,243

Issued Loan Types

Type Value (in 000's)
Net loans and leases $828,188
Loan and leases loss allowance $13,658
Total loans and leases (domestic) $841,846
All real estate loans $467,474
Real estate loans in domestic offices $467,474
Construction and development loans $34,010
Residential 1-4 family construction $18,322
Other construction, all land development and other land $15,688
Loans secured by nonfarm nonresidential properties $132,739
Nonfarm nonresidential secured by owner-occupied properties $7,418
Commercial real estate & other non-farm, non-residential $125,321
Multifamily residential real estate $47,428
1-4 family residential loans $68,176
Farmland loans $185,121
Loans held in foreign offices $0
Farm loans $181,080
Commercial and industrial loans $79,339
To non-U.S. addressees $0
Loans to individuals $103,250
Credit card loans $362
Related Plans $968
Consumer Auto Loans $13,969
Other loans to individuals $87,951
All other loans & leases $10,703
Loans to foreign governments and official institutions $0
Other loans $1,820
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $238
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $1,373
Non 1-4 family restructured loans & leases $1,255
Total loans and leases (foreign) $0

BANKWEST had $828,188,000 of loans outstanding in 2021. $467,474,000 of loans were in real estate loans. $34,010,000 of loans were in development loans. $47,428,000 of loans were in multifamily mortgage loans. $68,176,000 of loans were in 1-4 family mortgage loans. $181,080,000 of loans were in farm loans. $362,000 of loans were in credit card loans. $13,969,000 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 255 $50,257 $197,086
Nonfarm, nonresidential loans - <$100k 83 $3,010 $36,265
Nonfarm, nonresidential loans - $100-250k 83 $11,066 $133,325
Nonfarm, nonresidential loans - $250k-1MM 89 $36,181 $406,528
Commercial & Industrial, US addressed loans - <$1MM 691 $41,819 $60,520
Commercial & Industrial, US addressed loans - <$100k 502 $13,214 $26,323
Commercial & Industrial, US addressed loans - $100-250k 123 $11,853 $96,366
Commercial & Industrial, US addressed loans - $250k-1MM 66 $16,752 $253,818
Farmland loans - <$1MM 428 $54,295 $126,857
Farmland loans - <$100k 146 $6,076 $41,616
Farmland loans - $100-250k 163 $20,159 $123,675
Farmland loans - $250k-1MM 119 $28,060 $235,798
Agriculture operations loans - <$1MM 1,367 $85,343 $62,431
Agriculture operations loans - <$100k 920 $23,408 $25,443
Agriculture operations loans - $100-250k 306 $28,177 $92,082
Agriculture operations loans - $250k-1MM 141 $33,758 $239,418