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 Cash Out 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, Lawrence, Emporia, Warrensburg, and Key West among others. We have data for 17 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

405

Origination Dollar Volume (All Markets)

$82,935,000

Employee count

461

Awards

Central Bank of the Midwest 30 Year Conventional Loans silver

Show all (1) 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)	334	$60,820,000	$182,096	$2,724	4.27%
LAWRENCE, KS (FHA\|USDA\|VA)	41	$15,155,000	$369,634	$2,123	4.44%
Outside of Metro Areas	8	$1,540,000	$192,500	$2,759	4.02%
Emporia, KS (FHA\|USDA\|VA)	1	$1,345,000	$1,345,000	$0	4.25%
Warrensburg, MO (FHA\|USDA\|VA)	4	$990,000	$247,500	$2,666	3.84%
Key West, FL (FHA\|USDA\|VA)	1	$485,000	$485,000	$4,758	3.88%
COLORADO SPRINGS, CO (FHA\|USDA\|VA)	1	$485,000	$485,000	$2,851	4.00%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	1	$435,000	$435,000	$5,378	3.50%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	2	$420,000	$210,000	$4,071	4.25%
JEFFERSON CITY, MO (FHA\|USDA\|VA)	2	$260,000	$130,000	$2,123	3.81%
TOPEKA, KS (FHA\|USDA\|VA)	4	$230,000	$57,500	$2,555	4.44%
LAS CRUCES, NM (FHA\|USDA\|VA)	1	$175,000	$175,000	$3,162	4.00%
JOPLIN, MO (FHA\|USDA\|VA)	1	$165,000	$165,000	$2,766	4.00%
ST. JOSEPH, MO-KS (FHA\|USDA\|VA)	1	$155,000	$155,000	$7,376	3.50%
Sedalia, MO (FHA\|USDA\|VA)	1	$115,000	$115,000	$2,559	4.25%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	1	$95,000	$95,000	$2,811	4.00%
COLUMBIA, MO (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	6.25%

Central Bank Of The Midwest's top markets include Kansas City, Lawrence, Emporia, Warrensburg, and Key West among others.

Their top states include:

Kansas (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Arizona (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.

Citizens Savings and Loan Association, FSB
Similarity Rank: 141

MAINSTREET FEDERAL CREDIT UNION
Similarity Rank: 160

MERITRUST Federal Credit Union
Similarity Rank: 196

UNITED CONSUMERS CREDIT UNION
Similarity Rank: 416

FRONTIER COMMUNITY CREDIT UNION
Similarity Rank: 651

Central Bank of Warrensburg
Similarity Rank: 1032

Hawthorn Bank
Similarity Rank: 1564

Central National Bank
Similarity Rank: 2013

Platte Valley Bank of Missouri
Similarity Rank: 2184

Union Bank and Trust Company
Similarity Rank: 2268

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	367	$76,775,000	$209,196	$2,322	4.29%
FHA	34	$5,000,000	$147,059	$5,804	4.18%
VA	3	$1,025,000	$341,667	$7,402	3.83%
USDA	1	$135,000	$135,000	$4,215	3.63%

For 2019, Central Bank Of The Midwest's most frequently originated type of loan was Conventional, with 367 originations. Their 2nd most popular type was FHA, with 34 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	237	$52,295,000	$220,654	$2,938	4.30%
Cash Out Refi	95	$17,205,000	$181,105	$2,689	4.18%
Refi	46	$10,700,000	$232,609	$2,382	4.16%
Home Improvement	15	$1,675,000	$111,667	$1,590	4.64%
Other	12	$1,060,000	$88,333	$1,428	4.50%

For 2019, Central Bank Of The Midwest's most frequently cited loan purpose was Home Purchase, with 237 originations. The 2nd most popular reason was Cash Out Refi, with 95 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	277	$52,385,000	$189,116	$2,898	4.20%
15 Year	58	$10,900,000	$187,931	$2,538	3.71%
5 Year	28	$6,100,000	$217,857	$0	5.44%
10 Year	23	$9,675,000	$420,652	$728	4.58%
20 Year	7	$1,255,000	$179,286	$2,419	4.00%
1 Year	7	$1,315,000	$187,857	$0	5.64%
Other	5	$1,305,000	$261,000	$0	5.18%

For 2019, Central Bank Of The Midwest's most frequently cited loan duration was 30 Year, with 277 originations. The 2nd most popular length was 15 Year, with 58 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	329	$61,735,000	$187,644
$2k-3k	12	$1,780,000	$148,333
$1k-2k	6	$790,000	$131,667
$3k-4k	1	$255,000	$255,000

Central Bank Of The Midwest's average total fees were $2,898, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 329 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	190	$39,320,000	$206,947
4-5%	155	$33,415,000	$215,581
5-6%	55	$9,315,000	$169,364
2.5-3%	3	$535,000	$178,333
6-7%	2	$350,000	$175,000

During 2019, Central Bank Of The Midwest's average interest rate for loans was 4.20%, while their most frequently originated rate bucket for loans was 3-4%, with 190 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	186	$27,150,000	$145,968	$2,863	4.16%
$200k-400k	129	$35,815,000	$277,636	$2,843	4.22%
$100,000 or less	73	$5,005,000	$68,562	$1,944	4.70%
$400k-600k	12	$5,500,000	$458,333	$3,159	3.88%
$600k-1MM	3	$1,955,000	$651,667	$3,160	4.50%
$1MM+	2	$7,510,000	$3,755,000	$0	4.25%

2019 saw Central Bank Of The Midwest place emphasis on $100k-200k loans with 186 originations, totaling $27,150,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	105	$12,415,000	$118,238	$2,737	4.25%
$100k-150k	75	$16,705,000	$222,733	$2,390	4.17%
$50k-75k	74	$12,290,000	$166,081	$2,901	4.18%
$75k-100k	60	$11,380,000	$189,667	$2,837	4.20%
$150k-250k	38	$9,580,000	$252,105	$2,673	4.08%
$250k+	9	$3,335,000	$370,556	$2,757	4.32%

Central Bank Of The Midwest lent most frequently to those with incomes in the $50k or less range, with 105 originations. The second most popular income band? $100k-150k, with 75 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	95	$17,055,000	$179,526	$2,602	4.12%
30-36%	74	$12,310,000	$166,351	$2,612	4.21%
<20%	34	$6,340,000	$186,471	$2,771	4.19%
43%	18	$4,110,000	$228,333	$3,282	4.13%
41%	16	$2,900,000	$181,250	$2,220	4.11%
39%	16	$2,910,000	$181,875	$2,798	4.15%
38%	15	$2,515,000	$167,667	$3,085	4.08%
40%	13	$2,355,000	$181,154	$2,277	4.15%
42%	11	$2,205,000	$200,455	$2,592	4.28%
36%	10	$1,460,000	$146,000	$3,142	4.16%
44%	10	$1,960,000	$196,000	$3,650	4.28%
49%	10	$2,700,000	$270,000	$2,715	4.06%
47%	8	$1,640,000	$205,000	$2,294	4.16%
37%	7	$1,045,000	$149,286	$2,507	3.93%
46%	7	$1,455,000	$207,857	$2,454	3.93%
48%	7	$1,285,000	$183,571	$3,640	4.21%
45%	6	$1,070,000	$178,333	$2,327	4.06%
50-60%	4	$590,000	$147,500	$3,459	4.25%
>60%	1	$265,000	$265,000	$2,339	4.38%

Central Bank Of The Midwest lent most frequently to those with DTI ratios of 20-30%, with 95 originations. The next most common DTI ratio? 30-36%, with 74 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	328	$61,300,000	$186,890	$2,691	4.18%
Not applicable	31	$13,875,000	$447,581	$2,330	5.25%
Black	24	$3,220,000	$134,167	$2,950	4.16%
Asian	10	$2,010,000	$201,000	$2,690	4.24%
Not provided	8	$1,410,000	$176,250	$2,700	4.56%
American Indian	2	$600,000	$300,000	$3,480	4.38%
Asian Indian	1	$395,000	$395,000	$0	5.75%
Other Asian	1	$125,000	$125,000	$2,271	4.00%

Approval Rates

Total approvals of all applications
94.99%

Central Bank Of The Midwest has an average approval rate.

Pick Rate

Approvals leading to origination
78.27%

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

Points and Fees

Points	Originations	Total Value	Average Loan
NA	405	$82,935,000	$204,778

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	5	$9,085,000	$1,817,000
Single Family (1-4 Units):Manufactured	4	$540,000	$135,000
Single Family (1-4 Units):Site-Built	396	$73,310,000	$185,126

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	20	$2,460,000	$123,000	$2,061	4.48%
40-60%	57	$9,645,000	$169,211	$2,423	4.10%
60-80%	157	$33,945,000	$216,210	$2,583	4.33%
80-100%	158	$35,810,000	$226,646	$3,106	4.23%
Over 100%	2	$650,000	$325,000	$4,641	4.31%
Under 20%	11	$425,000	$38,636	$843	4.59%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
CENTERSTATE BANK CORPORATION	Conventional home mortgage	Trouble during payment process	1	50.0%
CENTERSTATE BANK CORPORATION	VA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	50.0%

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	$63,851
Central Bank of the Midwest	10300 Metcalf Overland Park, KS 66212	Full Service B&M	$37,416
Central Bank of the Midwest	10801 East 23rd Street Independence, MO 64052	Full Service B&M	$23,708
Central Bank of the Midwest	11206 East 24 Hwy Sugar Creek, MO 64054	Full Service B&M	$68,539
Central Bank of the Midwest	11900 College Boulevard Overland Park, KS 66210	Full Service B&M	$91,565
Central Bank of the Midwest	1201 Sw Oldham Parkway Lees Summit, MO 64081	Full Service B&M	$17,395
Central Bank of the Midwest	1305 Sw Arborwalk Blvd Lees Summit, MO 64082	Full Service B&M	$11,807
Central Bank of the Midwest	13446 Blackbob Road Olathe, KS 66062	Full Service B&M	$29,548
Central Bank of the Midwest	1402 Church St Eudora, KS 66025	Full Service Retail	$11,082
Central Bank of the Midwest	1444 Kasold Dr Lawrence, KS 66049	Full Service B&M	$20,475
Central Bank of the Midwest	1505 N 7 Hwy Blue Springs, MO 64014	Full Service B&M	$38,102
Central Bank of the Midwest	15100 Metcalf Overland Park, KS 66223	Full Service B&M	$63,078
Central Bank of the Midwest	15100 West 67th Street, Shawnee Mission Parkway And Lackman Shawnee, KS 66216	Full Service B&M	$35,277
Central Bank of the Midwest	204 Main Street Belton, MO 64012	Full Service B&M	$57,722
Central Bank of the Midwest	300 West 9th Street Lawrence, KS 66044	Full Service Cyber Office	$31,339
Central Bank of the Midwest	3101 Iowa Lawrence, KS 66046	Full Service B&M	$19,373
Central Bank of the Midwest	405 East Nelson Edgerton, KS 66021	Limited, Drive-thru	$3,755
Central Bank of the Midwest	4209 East 50th Terrace Kansas City, MO 64130	Full Service B&M	$368
Central Bank of the Midwest	4340 West Sixth Street Lawrence, KS 66049	Full Service B&M	$24,795
Central Bank of the Midwest	4668 Blue Ridge Boulevard Kansas City, MO 64133	Full Service B&M	$14,463
Central Bank of the Midwest	4801 Town Center Drive Leawood, KS 66211	Full Service B&M	$24,283
Central Bank of the Midwest	500 S Broadway Oak Grove, MO 64075	Full Service B&M	$62,819
Central Bank of the Midwest	609 North 291 Highway Lees Summit, MO 64086	Full Service B&M	$133,465
Central Bank of the Midwest	609 Northeast Missouri 291 Lees Summit, MO 64086	Full Service Cyber Office	$13,026
Central Bank of the Midwest	6114 Nieman Road Shawnee Mission, KS 66203	Full Service B&M	$10,472
Central Bank of the Midwest	639 Northeast Woods Chapel Road Lees Summit, MO 64064	Full Service B&M	$29,901
Central Bank of the Midwest	711 West 23rd Street Lawrence, KS 66044	Full Service B&M	$13,099
Central Bank of the Midwest	7800 College Boulevard Overland Park, KS 66210	Full Service B&M	$50,235
Central Bank of the Midwest	7960 W 135th Street Overland Park, KS 66223	Full Service B&M	$24,706
Central Bank of the Midwest	79th And Metcalf Streets Overland Park, KS 66204	Full Service B&M	$74,717
Central Bank of the Midwest	900 East Main Street Gardner, KS 66030	Full Service B&M	$21,089
Central Bank of the Midwest	909 South 7 Highway Blue Springs, MO 64014	Full Service B&M	$120,871
Central Bank of the Midwest	9740 Wornall Road Kansas City, MO 64114	Full Service B&M	$7,900
Central Bank of the Midwest	9th And Kentucky Streets Lawrence, KS 66044	Full Service B&M	$73,124
Central Bank of the Midwest	Main And Center Streets Gardner, KS 66030	Full Service B&M	$104,861

For 2019, Central Bank Of The Midwest had 35 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$75,174
Net interest income	$69,924
Total noninterest income	$19,852
Gross Fiduciary activities income	$310
Service charges on deposit accounts	$8,372
Trading account gains and fees	$0
Additional Noninterest Income	$11,170
Pre-tax net operating income	$32,911
Securities gains (or losses, -)	$9
Income before extraordinary items	$26,251
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$26,251
Minority interest net income	$0
Net income	$26,251
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$26,243

Central Bank Of The Midwest's gross interest income from loans was $75,174,000.
Central Bank Of The Midwest's net interest income from loans was $69,924,000.
Central Bank Of The Midwest's fee based income from loans was $8,372,000.
Central Bank Of The Midwest's net income from loans was $26,251,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$5,250
Provision for credit losses	$3,534
Total noninterest expense	$53,331
Salaries and employee benefits	$22,902
Premises and equipment expense	$5,660
Additional noninterest expense	$24,769
Applicable income taxes	$6,669
Net charge-offs	$3,166
Cash dividends	$37,000

Central Bank Of The Midwest's interest expense for loans was $5,250,000.
Central Bank Of The Midwest's payroll and benefits expense were $22,902,000.
Central Bank Of The Midwest's property, plant and equipment expenses $5,660,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	1.0%
Multifamily residential loans	0.0%
1-4 family residential loans	2.0%
HELOC loans	1.0%
All other family	3.0%
Commercial & industrial loans	0.0%
Personal loans	0.0%
Credit card loans	1.0%
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	$1,947,076
Deposits held in domestic offices	$1,947,076
Deposits by Individuals, partnerships, and corporations	$1,796,454
Deposits by U.S. Government	$1
Deposits by States and political subdivisions in the U.S.	$148,563
Deposits by Commercial banks and other depository institutions in U.S.	$2,058
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$195,311
Demand deposits	$152,592
Nontransaction accounts	$1,751,765
Money market deposit accounts (MMDAs)	$1,303,276
Other savings deposits (excluding MMDAs)	$269,473
Total time deposits	$179,016
Total time and savings deposits	$1,794,484
Noninterest-bearing deposits	$690,781
Interest-bearing deposits	$1,256,295
Retail deposits	$1,921,370
IRAs and Keogh plan accounts	$37,693
Brokered deposits	$4,350
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$2,410,589
Cash & Balances due from depository institutions	$185,117
Interest-bearing balances	$152,126
Total securities	$326,093
Federal funds sold & reverse repurchase	$2,184
Net loans and leases	$1,623,271
Loan and leases loss allowance	$19,031
Trading account assets	$0
Bank premises and fixed assets	$51,546
Other real estate owned	$5,407
Goodwill and other intangibles	$167,084
All other assets	$49,887

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$2,410,589
Total Liabilities	$2,059,214
Total deposits	$1,947,076
Interest-bearing deposits	$1,256,295
Deposits held in domestic offices	$1,947,076
% insured (estimated)	$88
Federal funds purchased and repurchase agreements	$20,958
Trading liabilities	$0
Other borrowed funds	$77,653
Subordinated debt	$0
All other liabilities	$13,527

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,623,271
Loan and leases loss allowance	$19,031
Total loans and leases (domestic)	$1,642,302
All real estate loans	$1,060,487
Real estate loans in domestic offices	$1,060,487
Construction and development loans	$121,187
Residential 1-4 family construction	$47,883
Other construction, all land development and other land	$73,304
Loans secured by nonfarm nonresidential properties	$701,447
Nonfarm nonresidential secured by owner-occupied properties	$296,300
Commercial real estate & other non-farm, non-residential	$405,147
Multifamily residential real estate	$76,513
1-4 family residential loans	$148,180
Farmland loans	$13,160
Loans held in foreign offices	$0
Farm loans	$1,983
Commercial and industrial loans	$275,884
To non-U.S. addressees	$0
Loans to individuals	$187,026
Credit card loans	$10,351
Related Plans	$7,958
Consumer Auto Loans	$84,993
Other loans to individuals	$83,724
All other loans & leases	$119,015
Loans to foreign governments and official institutions	$0
Other loans	$23,572
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$22,721
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$4,876
Non 1-4 family restructured loans & leases	$1,211
Total loans and leases (foreign)	$0

Central Bank of the Midwest had $1,623,271,000 of loans outstanding in 2019. $1,060,487,000 of loans were in real estate loans. $121,187,000 of loans were in development loans. $76,513,000 of loans were in multifamily mortgage loans. $148,180,000 of loans were in 1-4 family mortgage loans. $1,983,000 of loans were in farm loans. $10,351,000 of loans were in credit card loans. $84,993,000 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	553	$135,648	$245,295
Nonfarm, nonresidential loans - <$100k	83	$3,650	$43,976
Nonfarm, nonresidential loans - $100-250k	156	$18,357	$117,673
Nonfarm, nonresidential loans - $250k-1MM	314	$113,641	$361,914
Commercial & Industrial, US addressed loans - <$1MM	2,187	$91,518	$41,846
Commercial & Industrial, US addressed loans - <$100k	1,794	$18,372	$10,241
Commercial & Industrial, US addressed loans - $100-250k	202	$17,415	$86,213
Commercial & Industrial, US addressed loans - $250k-1MM	191	$55,731	$291,785
Farmland loans - <$1MM	32	$4,858	$151,813
Farmland loans - <$100k	12	$837	$69,750
Farmland loans - $100-250k	8	$781	$97,625
Farmland loans - $250k-1MM	12	$3,240	$270,000
Agriculture operations loans - <$1MM	31	$1,403	$45,258
Agriculture operations loans - <$100k	25	$568	$22,720
Agriculture operations loans - $100-250k	5	$549	$109,800
Agriculture operations loans - $250k-1MM	1	$286	$286,000