Bankfirst Mortgage Rates, Fees & Info

Norfolk, NE

LEI: 549300MJGHTLBSL8LJ59

Tax ID: 47-0529225

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Bankfirst is a smaller bank specializing in Refi and Home Purchase loans. Bankfirst has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Sioux City, Norfolk, Omaha, Columbus, and Lincoln among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bankfirst has an average approval rate when compared to the average across all lenders. They have a below 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.

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    Originations

    326

    Origination Dollar Volume (All Markets)

    $55,250,000

    Employee count

    104

    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
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 174 $28,370,000 $163,046 $0 0.00%
    Norfolk, NE (FHA|USDA|VA) 56 $10,930,000 $195,179 $0 0.00%
    Outside of Metro Areas 60 $9,060,000 $151,000 $0 0.00%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 9 $2,325,000 $258,333 $0 0.00%
    Columbus, NE (FHA|USDA|VA) 14 $2,160,000 $154,286 $0 0.00%
    LINCOLN, NE (FHA|USDA|VA) 5 $845,000 $169,000 $0 0.00%
    Spirit Lake, IA (FHA|USDA|VA) 2 $450,000 $225,000 $0 0.00%
    SIOUX FALLS, SD (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    Kearney, NE (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Storm Lake, IA (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    GRAND ISLAND, NE (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Bankfirst's top markets include Sioux City, Norfolk, Omaha, Columbus, and Lincoln among others.

    Their top states include:
  • Nebraska (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • South Dakota (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 324 $55,100,000 $170,062 $0 0.00%
    USDA 2 $150,000 $75,000 $0 0.00%

    For 2020, Bankfirst's most frequently originated type of loan was Conventional, with 324 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 193 $35,875,000 $185,881 $0 0.00%
    Home Purchase 131 $19,305,000 $147,366 $0 0.00%
    Home Improvement 1 $45,000 $45,000 $0 0.00%
    Other 1 $25,000 $25,000 $0 0.00%

    For 2020, Bankfirst's most frequently cited loan purpose was Refi, with 193 originations. The 2nd most popular reason was Home Purchase, with 131 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 326 $55,250,000 $169,479 $0 0.00%

    For 2020, Bankfirst's most frequently cited loan duration was Other, with 326 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 141 $20,115,000 $142,660 $0 0.00%
    $200k-400k 91 $23,135,000 $254,231 $0 0.00%
    $100,000 or less 83 $5,825,000 $70,181 $0 0.00%
    $400k-600k 10 $4,670,000 $467,000 $0 0.00%
    $1MM+ 1 $1,505,000 $1,505,000 $0 0.00%

    2020 saw Bankfirst place emphasis on $100k-200k loans with 141 originations, totaling $20,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 92 $12,610,000 $137,065 $0 0.00%
    $50k or less 61 $6,755,000 $110,738 $0 0.00%
    $100k-150k 52 $10,760,000 $206,923 $0 0.00%
    $75k-100k 51 $8,765,000 $171,863 $0 0.00%
    $150k-250k 34 $9,290,000 $273,235 $0 0.00%
    $250k+ 5 $1,165,000 $233,000 $0 0.00%

    Bankfirst lent most frequently to those with incomes in the $50k-75k range, with 92 originations. The second most popular income band? $50k or less, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 326 $55,250,000 $169,479 $0 0.00%

    Bankfirst lent most frequently to those with DTI ratios of Exempt%, with 326 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 294 $48,800,000 $165,986 $0 0.00%
    Not applicable 20 $4,620,000 $231,000 $0 0.00%
    Asian 6 $1,230,000 $205,000 $0 0.00%
    Black 4 $500,000 $125,000 $0 0.00%
    Not provided 2 $100,000 $50,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.29%

    Bankfirst has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.97%

    Bankfirst has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 326 $55,250,000 $169,479

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $565,000 $188,333
    Single Family (1-4 Units):Manufactured 2 $120,000 $60,000
    Single Family (1-4 Units):Site-Built 321 $54,565,000 $169,984

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Incorrect information on your report 1 3.8%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 4 15.4%
    BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 2 7.7%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 6 23.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 2 7.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 4 15.4%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 7.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.8%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bankfirst 1371 26th Avenue Columbus, NE 68601 Full Service B&M $74,670
    Bankfirst 100 North 13th Street Norfolk, NE 68701 Full Service B&M $217,500
    Bankfirst 1211 Riverside Boulevard Norfolk, NE 68701 Limited, Drive-thru $0
    Bankfirst 127 E. Walnut Street West Point, NE 68788 Full Service B&M $7,062
    Bankfirst 2021 Dakota Avenue South Sioux City, NE 68776 Full Service B&M $70,676
    Bankfirst 220 West 7th Street Wayne, NE 68787 Full Service B&M $26,184
    Bankfirst 2401 Hamilton Sioux City, IA 51104 Full Service B&M $7,495
    Bankfirst 2530 23rd Street Columbus, NE 68601 Limited, Drive-thru $0
    Bankfirst 2710 L Street Ord, NE 68862 Full Service B&M $23,712
    Bankfirst 3119 Floyd Boulevard Sioux City, IA 51104 Full Service B&M $9,734
    Bankfirst 319 East Highway 20 Oneill, NE 68763 Full Service B&M $28,496
    Bankfirst 3410 Singing Hills Blvd Sioux City, IA 51106 Full Service B&M $18,657
    Bankfirst 3800 Dakota Avenue South Sioux City, NE 68776 Limited, Drive-thru $0
    Bankfirst 406 Main Street Wakefield, NE 68784 Full Service B&M $31,031
    Bankfirst 902 Tenth Street Onawa, IA 51040 Full Service B&M $33,387
    Bankfirst 920 South 13th Street Norfolk, NE 68701 Limited, Drive-thru $0

    For 2020, Bankfirst had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $34,834
    Net interest income $27,880
    Total noninterest income $4,138
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,412
    Trading account gains and fees $0
    Additional Noninterest Income $2,726
    Pre-tax net operating income $15,781
    Securities gains (or losses, -) $1,385
    Income before extraordinary items $14,249
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,249
    Minority interest net income $0
    Net income $14,249
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $13,099

    Bankfirst's gross interest income from loans was $34,834,000.
    Bankfirst's net interest income from loans was $27,880,000.
    Bankfirst's fee based income from loans was $1,412,000.
    Bankfirst's net income from loans was $14,249,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,954
    Provision for credit losses $2,800
    Total noninterest expense $13,437
    Salaries and employee benefits $8,622
    Premises and equipment expense $1,605
    Additional noninterest expense $3,210
    Applicable income taxes $2,917
    Net charge-offs $-99
    Cash dividends $0

    Bankfirst's interest expense for loans was $6,954,000.
    Bankfirst's payroll and benefits expense were $8,622,000.
    Bankfirst's property, plant and equipment expenses $1,605,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 4.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 0.0%
    All other family 4.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    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 $573,353
    Deposits held in domestic offices $573,353
    Deposits by Individuals, partnerships, and corporations $466,828
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $79,634
    Deposits by Commercial banks and other depository institutions in U.S. $26,891
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $293,321
    Demand deposits $93,690
    Nontransaction accounts $280,032
    Money market deposit accounts (MMDAs) $133,186
    Other savings deposits (excluding MMDAs) $34,352
    Total time deposits $112,494
    Total time and savings deposits $479,663
    Noninterest-bearing deposits $93,383
    Interest-bearing deposits $479,970
    Retail deposits $514,191
    IRAs and Keogh plan accounts $9,685
    Brokered deposits $65,441
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $830,237
    Cash & Balances due from depository institutions $18,520
    Interest-bearing balances $13,302
    Total securities $190,281
    Federal funds sold & reverse repurchase $0
    Net loans and leases $556,813
    Loan and leases loss allowance $9,291
    Trading account assets $0
    Bank premises and fixed assets $13,138
    Other real estate owned $0
    Goodwill and other intangibles $16,120
    All other assets $35,365

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $830,237
    Total Liabilities $729,127
    Total deposits $573,353
    Interest-bearing deposits $479,970
    Deposits held in domestic offices $573,353
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $150,576
    Subordinated debt $0
    All other liabilities $5,198

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $556,813
    Loan and leases loss allowance $9,291
    Total loans and leases (domestic) $566,104
    All real estate loans $373,398
    Real estate loans in domestic offices $373,398
    Construction and development loans $46,880
    Residential 1-4 family construction $31
    Other construction, all land development and other land $46,849
    Loans secured by nonfarm nonresidential properties $142,764
    Nonfarm nonresidential secured by owner-occupied properties $21,819
    Commercial real estate & other non-farm, non-residential $120,945
    Multifamily residential real estate $4,711
    1-4 family residential loans $55,967
    Farmland loans $123,076
    Loans held in foreign offices $0
    Farm loans $131,729
    Commercial and industrial loans $50,167
    To non-U.S. addressees $0
    Loans to individuals $10,712
    Credit card loans $0
    Related Plans $57
    Consumer Auto Loans $4,319
    Other loans to individuals $6,336
    All other loans & leases $98
    Loans to foreign governments and official institutions $0
    Other loans $98
    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 $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    BankFirst had $556,813,000 of loans outstanding in 2020. $373,398,000 of loans were in real estate loans. $46,880,000 of loans were in development loans. $4,711,000 of loans were in multifamily mortgage loans. $55,967,000 of loans were in 1-4 family mortgage loans. $131,729,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,319,000 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 167 $35,360 $211,737
    Nonfarm, nonresidential loans - <$100k 56 $2,471 $44,125
    Nonfarm, nonresidential loans - $100-250k 45 $6,378 $141,733
    Nonfarm, nonresidential loans - $250k-1MM 66 $26,511 $401,682
    Commercial & Industrial, US addressed loans - <$1MM 229 $22,480 $98,166
    Commercial & Industrial, US addressed loans - <$100k 133 $3,020 $22,707
    Commercial & Industrial, US addressed loans - $100-250k 50 $4,746 $94,920
    Commercial & Industrial, US addressed loans - $250k-1MM 46 $14,714 $319,870
    Farmland loans - <$1MM 127 $22,140 $174,331
    Farmland loans - <$100k 32 $1,469 $45,906
    Farmland loans - $100-250k 50 $6,513 $130,260
    Farmland loans - $250k-1MM 45 $14,158 $314,622
    Agriculture operations loans - <$1MM 314 $29,527 $94,035
    Agriculture operations loans - <$100k 165 $5,180 $31,394
    Agriculture operations loans - $100-250k 84 $7,687 $91,512
    Agriculture operations loans - $250k-1MM 65 $16,660 $256,308