Central Bank Of The Midwest Mortgage Rates, Fees & Info

Lee's Summit, MO

LEI: 549300GTU4DSS0S14C42

Tax ID: 43-1365233

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

Review & Overview

Central Bank Of The Midwest is a smaller bank specializing in Home Purchase and Refi loans. Central Bank Of The Midwest has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Kansas City, St. Louis, Lawrence, Winfield, and Warrensburg among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

Central Bank Of The Midwest 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. Central Bank Of The Midwest 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

347

Origination Dollar Volume (All Markets)

$92,125,000

Employee count

328

Awards

Central Bank of the Midwest 30 Year Conventional Loans bronze

Central Bank of the Midwest 30 Year Conventional Loans silver

Central Bank of the Midwest FHA Loans silver

Show all (3) 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
KANSAS CITY, MO-KS (FHA\|USDA\|VA)	292	$65,850,000	$225,514	$2,514	4.81%
ST. LOUIS, MO-IL (FHA\|USDA\|VA)	1	$12,505,000	$12,505,000	$0	5.00%
LAWRENCE, KS (FHA\|USDA\|VA)	38	$8,770,000	$230,789	$2,460	4.81%
Winfield, KS (FHA\|USDA\|VA)	1	$2,005,000	$2,005,000	$0	4.40%
Warrensburg, MO (FHA\|USDA\|VA)	3	$655,000	$218,333	$4,817	4.58%
Outside of Metro Areas	3	$565,000	$188,333	$2,254	4.75%
DENVER-AURORA-LAKEWOOD, CO (FHA\|USDA\|VA)	1	$425,000	$425,000	$2,479	4.50%
Sedalia, MO (FHA\|USDA\|VA)	1	$325,000	$325,000	$2,793	4.25%
COLORADO SPRINGS, CO (FHA\|USDA\|VA)	1	$275,000	$275,000	$0	4.63%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	1	$195,000	$195,000	$3,121	4.75%
Branson, MO (FHA\|USDA\|VA)	1	$165,000	$165,000	$0	5.50%
TOPEKA, KS (FHA\|USDA\|VA)	2	$150,000	$75,000	$2,300	4.50%
Rolla, MO (FHA\|USDA\|VA)	1	$135,000	$135,000	$2,980	4.63%
Ottawa, KS (FHA\|USDA\|VA)	1	$105,000	$105,000	$0	5.50%

Central Bank Of The Midwest's top markets include Kansas City, St. Louis, Lawrence, Winfield, and Warrensburg among others.

Their top states include:

Missouri (FHA|USDA|VA)

Kansas (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Similar Lenders

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

MAINSTREET FEDERAL CREDIT UNION
Similarity Rank: 68

KCB Bank
Similarity Rank: 108

MERITRUST Federal Credit Union
Similarity Rank: 121

Citizens Savings and Loan Association, FSB
Similarity Rank: 146

Clay County Savings Bank
Similarity Rank: 148

UNITED CONSUMERS CREDIT UNION
Similarity Rank: 608

First State Bank and Trust
Similarity Rank: 750

Central Bank of Warrensburg
Similarity Rank: 819

R-G Federal Credit Union
Similarity Rank: 825

FRONTIER COMMUNITY CREDIT UNION
Similarity Rank: 1070

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	307	$85,995,000	$280,114	$2,086	4.82%
FHA	35	$5,015,000	$143,286	$4,976	4.72%
VA	4	$980,000	$245,000	$7,068	4.31%
USDA	1	$135,000	$135,000	$4,795	4.38%

For 2018, Central Bank Of The Midwest's most frequently originated type of loan was Conventional, with 307 originations. Their 2nd most popular type was FHA, with 35 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	223	$43,865,000	$196,704	$2,865	4.75%
Refi	68	$28,500,000	$419,118	$2,176	4.77%
Cash Out Refi	42	$18,300,000	$435,714	$1,956	4.98%
Home Improvement	13	$1,055,000	$81,154	$953	5.23%
Other	1	$405,000	$405,000	$299	5.63%

For 2018, Central Bank Of The Midwest's most frequently cited loan purpose was Home Purchase, with 223 originations. The 2nd most popular reason was Refi, with 68 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	238	$43,930,000	$184,580	$2,780	4.75%
15 Year	36	$6,800,000	$188,889	$2,405	4.30%
10 Year	27	$1,795,000	$66,481	$499	5.36%
5 Year	27	$16,745,000	$620,185	$0	5.19%
Other	11	$21,975,000	$1,997,727	$0	5.46%
20 Year	6	$690,000	$115,000	$2,290	4.56%
1 Year	1	$75,000	$75,000	$0	5.50%
3 Year	1	$115,000	$115,000	$0	4.74%

For 2018, Central Bank Of The Midwest's most frequently cited loan duration was 30 Year, with 238 originations. The 2nd most popular length was 15 Year, with 36 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	263	$47,525,000	$180,703
$2k-3k	7	$1,065,000	$152,143
$1k-2k	6	$610,000	$101,667

Central Bank Of The Midwest's average total fees were $2,780, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 263 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	230	$68,930,000	$299,696
5-6%	96	$18,860,000	$196,458
3-4%	18	$3,890,000	$216,111
6-7%	3	$445,000	$148,333

During 2018, Central Bank Of The Midwest's average interest rate for loans was 4.75%, while their most frequently originated rate bucket for loans was 4-5%, with 230 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	152	$22,070,000	$145,197	$2,828	4.80%
$200k-400k	87	$23,415,000	$269,138	$2,859	4.60%
$100,000 or less	82	$5,420,000	$66,098	$1,606	5.03%
$400k-600k	13	$5,845,000	$449,615	$2,254	4.63%
$1MM+	8	$32,090,000	$4,011,250	$0	4.83%
$600k-1MM	5	$3,285,000	$657,000	$3,271	4.88%

2018 saw Central Bank Of The Midwest place emphasis on $100k-200k loans with 152 originations, totaling $22,070,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	86	$9,670,000	$112,442	$2,440	4.74%
$50k-75k	72	$10,880,000	$151,111	$2,963	4.77%
$100k-150k	55	$11,585,000	$210,636	$2,270	4.67%
$75k-100k	55	$10,465,000	$190,273	$2,611	4.78%
$150k-250k	29	$7,365,000	$253,966	$2,163	4.84%
$250k+	12	$3,270,000	$272,500	$2,007	4.78%

Central Bank Of The Midwest lent most frequently to those with incomes in the $50k or less range, with 86 originations. The second most popular income band? $50k-75k, with 72 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	72	$10,540,000	$146,389	$2,541	4.71%
30-36%	45	$8,105,000	$180,111	$2,352	4.63%
<20%	29	$5,545,000	$191,207	$2,195	4.66%
42%	19	$3,665,000	$192,895	$2,237	4.92%
43%	15	$2,965,000	$197,667	$2,483	4.83%
39%	15	$2,265,000	$151,000	$2,019	4.79%
40%	15	$2,465,000	$164,333	$3,241	4.91%
37%	14	$2,080,000	$148,571	$2,137	4.72%
41%	14	$1,960,000	$140,000	$1,941	4.97%
44%	13	$2,325,000	$178,846	$3,412	4.89%
48%	12	$2,920,000	$243,333	$3,253	4.67%
38%	11	$1,785,000	$162,273	$2,136	4.69%
49%	8	$1,930,000	$241,250	$3,054	4.72%
36%	7	$1,405,000	$200,714	$2,369	4.93%
46%	5	$775,000	$155,000	$3,529	4.63%
47%	4	$760,000	$190,000	$2,880	4.50%
45%	4	$600,000	$150,000	$2,787	4.72%
50-60%	3	$735,000	$245,000	$5,866	4.33%

Central Bank Of The Midwest lent most frequently to those with DTI ratios of 20-30%, with 72 originations. The next most common DTI ratio? 30-36%, with 45 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	253	$44,225,000	$174,802	$2,515	4.77%
Not applicable	36	$38,650,000	$1,073,611	$0	5.19%
Black	30	$3,980,000	$132,667	$2,601	4.78%
Asian	17	$3,255,000	$191,471	$2,627	4.69%
Not provided	7	$1,045,000	$149,286	$2,537	4.59%
Asian Indian	4	$970,000	$242,500	$2,952	4.44%

Approval Rates

Total approvals of all applications
93.13%

Central Bank Of The Midwest has an average approval rate.

Pick Rate

Approvals leading to origination
79.25%

Central Bank Of The Midwest has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	347	$92,125,000	$265,490

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	12	$34,490,000	$2,874,167
Single Family (1-4 Units):Site-Built	335	$57,635,000	$172,045

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	17	$2,055,000	$120,882	$1,721	5.00%
40-60%	38	$6,430,000	$169,211	$2,254	4.65%
60-80%	127	$54,565,000	$429,646	$2,369	4.88%
80-100%	147	$27,965,000	$190,238	$2,987	4.69%
Over 100%	1	$225,000	$225,000	$9,050	4.13%
Under 20%	17	$885,000	$52,059	$489	5.38%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
CENTRAL BANC MORTGAGE CORPORATION	Other type of mortgage	Applying for a mortgage or refinancing an existing mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Central Bank of the Midwest	100 South Hudson Buckner, MO 64016	Full Service B&M	$60,679
Central Bank of the Midwest	10300 Metcalf Overland Park, KS 66212	Full Service B&M	$37,080
Central Bank of the Midwest	10801 East 23rd Street Independence, MO 64052	Full Service B&M	$22,479
Central Bank of the Midwest	11206 East 24 Hwy Sugar Creek, MO 64054	Full Service B&M	$71,785
Central Bank of the Midwest	11900 College Boulevard Overland Park, KS 66210	Full Service B&M	$95,369
Central Bank of the Midwest	1201 Sw Oldham Parkway Lees Summit, MO 64081	Full Service B&M	$17,021
Central Bank of the Midwest	1305 Sw Arborwalk Blvd Lees Summit, MO 64082	Full Service B&M	$9,390
Central Bank of the Midwest	13446 Blackbob Road Olathe, KS 66062	Full Service B&M	$28,251
Central Bank of the Midwest	1402 Church St Eudora, KS 66025	Full Service Retail	$10,945
Central Bank of the Midwest	1444 Kasold Dr Lawrence, KS 66049	Full Service B&M	$20,444
Central Bank of the Midwest	1505 N 7 Hwy Blue Springs, MO 64014	Full Service B&M	$38,935
Central Bank of the Midwest	15100 Metcalf Overland Park, KS 66223	Full Service B&M	$62,736
Central Bank of the Midwest	15100 West 67th Street Shawnee, KS 66216	Full Service B&M	$36,545
Central Bank of the Midwest	204 Main Street Belton, MO 64012	Full Service B&M	$73,544
Central Bank of the Midwest	300 West 9th Street Lawrence, KS 66044	Full Service Cyber Office	$32,941
Central Bank of the Midwest	3101 Iowa Lawrence, KS 66046	Full Service B&M	$19,044
Central Bank of the Midwest	405 East Nelson Edgerton, KS 66021	Limited, Drive-thru	$3,533
Central Bank of the Midwest	4340 West Sixth Street Lawrence, KS 66049	Full Service B&M	$24,573
Central Bank of the Midwest	4668 Blue Ridge Boulevard Kansas City, MO 64133	Full Service B&M	$14,744
Central Bank of the Midwest	4801 Town Center Drive Leawood, KS 66211	Full Service B&M	$26,461
Central Bank of the Midwest	500 S Broadway Oak Grove, MO 64075	Full Service B&M	$58,368
Central Bank of the Midwest	609 North 291 Highway Lees Summit, MO 64086	Full Service B&M	$124,306
Central Bank of the Midwest	609 Northeast Missouri 291 Lees Summit, MO 64086	Full Service Cyber Office	$11,431
Central Bank of the Midwest	6114 Nieman Road Shawnee Mission, KS 66203	Full Service B&M	$10,053
Central Bank of the Midwest	639 Northeast Woods Chapel Road Lees Summit, MO 64064	Full Service B&M	$26,609
Central Bank of the Midwest	711 West 23rd Street Lawrence, KS 66044	Full Service B&M	$14,545
Central Bank of the Midwest	7800 College Boulevard Overland Park, KS 66210	Full Service B&M	$58,668
Central Bank of the Midwest	7960 W 135th Street Overland Park, KS 66223	Full Service B&M	$24,470
Central Bank of the Midwest	79th And Metcalf Streets Overland Park, KS 66204	Full Service B&M	$75,586
Central Bank of the Midwest	900 East Main Street Gardner, KS 66030	Full Service B&M	$18,578
Central Bank of the Midwest	909 South 7 Highway Blue Springs, MO 64014	Full Service B&M	$125,212
Central Bank of the Midwest	9740 Wornall Road Kansas City, MO 64114	Full Service B&M	$8,038
Central Bank of the Midwest	9th And Kentucky Streets Lawrence, KS 66044	Full Service B&M	$76,862
Central Bank of the Midwest	Main And Center Streets Gardner, KS 66030	Full Service B&M	$111,612

For 2018, Central Bank Of The Midwest had 34 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$68,804
Net interest income	$65,636
Total noninterest income	$18,610
Gross Fiduciary activities income	$549
Service charges on deposit accounts	$8,121
Trading account gains and fees	$0
Additional Noninterest Income	$9,940
Pre-tax net operating income	$29,602
Securities gains (or losses, -)	$-46
Income before extraordinary items	$22,625
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$22,625
Minority interest net income	$0
Net income	$22,625
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$22,661

Central Bank Of The Midwest's gross interest income from loans was $68,804,000.
Central Bank Of The Midwest's net interest income from loans was $65,636,000.
Central Bank Of The Midwest's fee based income from loans was $8,121,000.
Central Bank Of The Midwest's net income from loans was $22,625,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,168
Provision for credit losses	$3,599
Total noninterest expense	$51,045
Salaries and employee benefits	$21,284
Premises and equipment expense	$5,440
Additional noninterest expense	$24,321
Applicable income taxes	$6,931
Net charge-offs	$3,091
Cash dividends	$18,000

Central Bank Of The Midwest's interest expense for loans was $3,168,000.
Central Bank Of The Midwest's payroll and benefits expense were $21,284,000.
Central Bank Of The Midwest's property, plant and equipment expenses $5,440,000.

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	3.0%
HELOC loans	0.0%
All other family	4.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	0.9%
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	$1,425,041
Deposits held in domestic offices	$1,425,041
Deposits by Individuals, partnerships, and corporations	$1,310,688
Deposits by U.S. Government	$1
Deposits by States and political subdivisions in the U.S.	$114,352
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	$103,791
Demand deposits	$80,237
Nontransaction accounts	$1,321,250
Money market deposit accounts (MMDAs)	$987,515
Other savings deposits (excluding MMDAs)	$209,854
Total time deposits	$123,881
Total time and savings deposits	$1,344,804
Noninterest-bearing deposits	$520,255
Interest-bearing deposits	$904,786
Retail deposits	$1,409,388
IRAs and Keogh plan accounts	$28,108
Brokered deposits	$1,546
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,761,643
Cash & Balances due from depository institutions	$185,094
Interest-bearing balances	$159,700
Total securities	$202,670
Federal funds sold & reverse repurchase	$2,273
Net loans and leases	$1,195,390
Loan and leases loss allowance	$18,083
Trading account assets	$0
Bank premises and fixed assets	$37,835
Other real estate owned	$4,960
Goodwill and other intangibles	$113,734
All other assets	$19,687

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,761,643
Total Liabilities	$1,511,049
Total deposits	$1,425,041
Interest-bearing deposits	$904,786
Deposits held in domestic offices	$1,425,041
% insured (estimated)	$89
Federal funds purchased and repurchase agreements	$18,183
Trading liabilities	$0
Other borrowed funds	$57,000
Subordinated debt	$0
All other liabilities	$10,825

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,195,390
Loan and leases loss allowance	$18,083
Total loans and leases (domestic)	$1,213,473
All real estate loans	$721,228
Real estate loans in domestic offices	$721,228
Construction and development loans	$69,541
Residential 1-4 family construction	$26,399
Other construction, all land development and other land	$43,142
Loans secured by nonfarm nonresidential properties	$508,966
Nonfarm nonresidential secured by owner-occupied properties	$228,319
Commercial real estate & other non-farm, non-residential	$280,647
Multifamily residential real estate	$51,754
1-4 family residential loans	$83,102
Farmland loans	$7,865
Loans held in foreign offices	$0
Farm loans	$4,475
Commercial and industrial loans	$184,141
To non-U.S. addressees	$0
Loans to individuals	$196,780
Credit card loans	$9,490
Related Plans	$7,086
Consumer Auto Loans	$105,134
Other loans to individuals	$75,070
All other loans & leases	$108,120
Loans to foreign governments and official institutions	$0
Other loans	$19,354
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$24,048
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$4,673
Non 1-4 family restructured loans & leases	$676
Total loans and leases (foreign)	$0

Central Bank of the Midwest had $1,195,390,000 of loans outstanding in 2018. $721,228,000 of loans were in real estate loans. $69,541,000 of loans were in development loans. $51,754,000 of loans were in multifamily mortgage loans. $83,102,000 of loans were in 1-4 family mortgage loans. $4,475,000 of loans were in farm loans. $9,490,000 of loans were in credit card loans. $105,134,000 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	385	$86,476	$224,613
Nonfarm, nonresidential loans - <$100k	55	$1,758	$31,964
Nonfarm, nonresidential loans - $100-250k	119	$13,035	$109,538
Nonfarm, nonresidential loans - $250k-1MM	211	$71,683	$339,730
Commercial & Industrial, US addressed loans - <$1MM	2,036	$79,390	$38,993
Commercial & Industrial, US addressed loans - <$100k	1,707	$17,480	$10,240
Commercial & Industrial, US addressed loans - $100-250k	174	$15,195	$87,328
Commercial & Industrial, US addressed loans - $250k-1MM	155	$46,715	$301,387
Farmland loans - <$1MM	28	$3,226	$115,214
Farmland loans - <$100k	12	$627	$52,250
Farmland loans - $100-250k	10	$962	$96,200
Farmland loans - $250k-1MM	6	$1,637	$272,833
Agriculture operations loans - <$1MM	23	$1,057	$45,957
Agriculture operations loans - <$100k	20	$415	$20,750
Agriculture operations loans - $100-250k	2	$347	$173,500
Agriculture operations loans - $250k-1MM	1	$295	$295,000