Bankfirst Mortgage Rates, Fees & Info
Norfolk, NELEI: 549300MJGHTLBSL8LJ59
Tax ID: 47-0529225
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Mortgage Data
Bank Data
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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Sioux City, Norfolk, Rapid City, Columbus, and Omaha among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)Bankfirst 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.
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Originations
281Origination Dollar Volume (All Markets)
$47,125,000Employee count
110Top 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) | 136 | $18,800,000 | $138,235 | $0 | 0.00% |
| Norfolk, NE (FHA|USDA|VA) | 79 | $16,295,000 | $206,266 | $0 | 0.00% |
| Outside of Metro Areas | 48 | $6,980,000 | $145,417 | $0 | 0.00% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $2,035,000 | $2,035,000 | $0 | 0.00% |
| Columbus, NE (FHA|USDA|VA) | 8 | $1,570,000 | $196,250 | $0 | 0.00% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 5 | $835,000 | $167,000 | $0 | 0.00% |
| LINCOLN, NE (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| Spirit Lake, IA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Hays, KS (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 278 | $46,770,000 | $168,237 | $0 | 0.00% |
| USDA | 2 | $230,000 | $115,000 | $0 | 0.00% |
| FHA | 1 | $125,000 | $125,000 | $0 | 0.00% |
For 2021, Bankfirst's most frequently originated type of loan was Conventional, with 278 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 | 149 | $26,525,000 | $178,020 | $0 | 0.00% |
| Home Purchase | 129 | $20,225,000 | $156,783 | $0 | 0.00% |
| Home Improvement | 3 | $375,000 | $125,000 | $0 | 0.00% |
For 2021, Bankfirst's most frequently cited loan purpose was Refi, with 149 originations. The 2nd most popular reason was Home Purchase, with 129 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 281 | $47,125,000 | $167,705 | $0 | 0.00% |
For 2021, Bankfirst's most frequently cited loan duration was Other, with 281 originations.
Loan Sizing
2021 saw Bankfirst place emphasis on $100k-200k loans with 134 originations, totaling $19,100,000 in origination value.
Applicant Income
Bankfirst lent most frequently to those with incomes in the $50k-75k range, with 72 originations. The second most popular income band? $50k or less, with 54 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 281 | $47,125,000 | $167,705 | $0 | 0.00% |
Bankfirst lent most frequently to those with DTI ratios of Exempt%, with 281 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.76%
Bankfirst has an average approval rate.
Pick Rate
Approvals leading to origination81.14%
Bankfirst has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 281 | $47,125,000 | $167,705 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 5 | 16.7% |
| BANK OF THE WEST | VA mortgage | Trouble during payment process | 1 | 3.3% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 2 | 6.7% |
| BANK OF THE WEST | Other type of mortgage | Struggling to pay mortgage | 1 | 3.3% |
| BANK OF THE WEST | Other type of mortgage | Closing on a mortgage | 1 | 3.3% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.3% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 3 | 10.0% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 4 | 13.3% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 2 | 6.7% |
| BANK OF THE WEST | FHA mortgage | Trouble during payment process | 1 | 3.3% |
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 2 | 6.7% |
| BANK OF THE WEST | Conventional home mortgage | Closing on a mortgage | 1 | 3.3% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 6 | 20.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Bankfirst | 100 North 13th Street Norfolk, NE 68701 | Full Service B&M | $247,076 |
| Bankfirst | 1211 Riverside Boulevard Norfolk, NE 68701 | Limited, Drive-thru | $0 |
| Bankfirst | 127 E. Walnut Street West Point, NE 68788 | Full Service B&M | $9,053 |
| Bankfirst | 1371 26th Avenue Columbus, NE 68601 | Full Service B&M | $66,717 |
| Bankfirst | 220 West 7th Street Wayne, NE 68787 | Full Service B&M | $28,677 |
| Bankfirst | 2401 Hamilton Sioux City, IA 51104 | Limited, Drive-thru | $0 |
| Bankfirst | 2530 23rd Street Columbus, NE 68601 | Limited, Drive-thru | $0 |
| Bankfirst | 2710 L Street Ord, NE 68862 | Full Service B&M | $34,345 |
| Bankfirst | 3119 Floyd Boulevard Sioux City, IA 51104 | Limited, Drive-thru | $0 |
| Bankfirst | 319 East Highway 20 Oneill, NE 68763 | Full Service B&M | $30,239 |
| Bankfirst | 3410 Singing Hills Blvd Sioux City, IA 51106 | Full Service B&M | $41,260 |
| Bankfirst | 3800 Dakota Avenue South Sioux City, NE 68776 | Limited, Drive-thru | $0 |
| Bankfirst | 3800 Dakota Avenue South Sioux City, NE 68776 | Full Service B&M | $78,925 |
| Bankfirst | 406 Main Street Wakefield, NE 68784 | Full Service B&M | $35,457 |
| Bankfirst | 902 Tenth Street Onawa, IA 51040 | Full Service B&M | $38,553 |
| Bankfirst | 920 South 13th Street Norfolk, NE 68701 | Limited, Drive-thru | $0 |
For 2021, Bankfirst had 16 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $34,455 |
| Net interest income | $29,358 |
| Total noninterest income | $1,018 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,223 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $-205 |
| Pre-tax net operating income | $13,960 |
| Securities gains (or losses, -) | $766 |
| Income before extraordinary items | $11,063 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $11,063 |
| Minority interest net income | $0 |
| Net income | $11,063 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $10,457 |
Bankfirst's gross interest income from loans was $34,455,000.
Bankfirst's net interest income from loans was $29,358,000.
Bankfirst's fee based income from loans was $1,223,000.
Bankfirst's net income from loans was $11,063,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $5,097 |
| Provision for credit losses | $2,500 |
| Total noninterest expense | $13,916 |
| Salaries and employee benefits | $8,551 |
| Premises and equipment expense | $1,666 |
| Additional noninterest expense | $3,699 |
| Applicable income taxes | $3,663 |
| Net charge-offs | $1,701 |
| Cash dividends | $0 |
Bankfirst's interest expense for loans was $5,097,000.
Bankfirst's payroll and benefits expense were $8,551,000.
Bankfirst's property, plant and equipment expenses $1,666,000.
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 | 3.0% |
| HELOC loans | 0.0% |
| All other family | 4.0% |
| Commercial & industrial loans | 0.0% |
| 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 | $594,929 |
| Deposits held in domestic offices | $594,929 |
| Deposits by Individuals, partnerships, and corporations | $511,317 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $75,018 |
| Deposits by Commercial banks and other depository institutions in U.S. | $8,594 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $325,568 |
| Demand deposits | $113,539 |
| Nontransaction accounts | $269,361 |
| Money market deposit accounts (MMDAs) | $160,491 |
| Other savings deposits (excluding MMDAs) | $41,253 |
| Total time deposits | $67,617 |
| Total time and savings deposits | $481,390 |
| Noninterest-bearing deposits | $113,539 |
| Interest-bearing deposits | $481,390 |
| Retail deposits | $570,455 |
| IRAs and Keogh plan accounts | $9,248 |
| Brokered deposits | $8,593 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $857,401 |
| Cash & Balances due from depository institutions | $18,231 |
| Interest-bearing balances | $13,423 |
| Total securities | $240,096 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $540,176 |
| Loan and leases loss allowance | $10,090 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $10,936 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $15,772 |
| All other assets | $32,190 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $857,401 |
| Total Liabilities | $742,898 |
| Total deposits | $594,929 |
| Interest-bearing deposits | $481,390 |
| Deposits held in domestic offices | $594,929 |
| % insured (estimated) | $67 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $142,781 |
| Subordinated debt | $0 |
| All other liabilities | $5,188 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $540,176 |
| Loan and leases loss allowance | $10,090 |
| Total loans and leases (domestic) | $550,266 |
| All real estate loans | $360,506 |
| Real estate loans in domestic offices | $360,506 |
| Construction and development loans | $28,472 |
| Residential 1-4 family construction | $209 |
| Other construction, all land development and other land | $28,263 |
| Loans secured by nonfarm nonresidential properties | $145,118 |
| Nonfarm nonresidential secured by owner-occupied properties | $21,163 |
| Commercial real estate & other non-farm, non-residential | $123,955 |
| Multifamily residential real estate | $5,899 |
| 1-4 family residential loans | $55,322 |
| Farmland loans | $125,695 |
| Loans held in foreign offices | $0 |
| Farm loans | $134,445 |
| Commercial and industrial loans | $51,383 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,780 |
| Credit card loans | $0 |
| Related Plans | $45 |
| Consumer Auto Loans | $3,383 |
| Other loans to individuals | $352 |
| All other loans & leases | $152 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $152 |
| 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 | $3,053 |
| Non 1-4 family restructured loans & leases | $3,053 |
| Total loans and leases (foreign) | $0 |
BankFirst had $540,176,000 of loans outstanding in 2021. $360,506,000 of loans were in real estate loans. $28,472,000 of loans were in development loans. $5,899,000 of loans were in multifamily mortgage loans. $55,322,000 of loans were in 1-4 family mortgage loans. $134,445,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,383,000 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 | 161 | $31,952 | $198,460 |
| Nonfarm, nonresidential loans - <$100k | 55 | $2,063 | $37,509 |
| Nonfarm, nonresidential loans - $100-250k | 47 | $7,425 | $157,979 |
| Nonfarm, nonresidential loans - $250k-1MM | 59 | $22,464 | $380,746 |
| Commercial & Industrial, US addressed loans - <$1MM | 222 | $23,436 | $105,568 |
| Commercial & Industrial, US addressed loans - <$100k | 127 | $3,264 | $25,701 |
| Commercial & Industrial, US addressed loans - $100-250k | 48 | $4,197 | $87,438 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 47 | $15,975 | $339,894 |
| Farmland loans - <$1MM | 137 | $25,358 | $185,095 |
| Farmland loans - <$100k | 37 | $1,653 | $44,676 |
| Farmland loans - $100-250k | 47 | $6,646 | $141,404 |
| Farmland loans - $250k-1MM | 53 | $17,059 | $321,868 |
| Agriculture operations loans - <$1MM | 304 | $29,150 | $95,888 |
| Agriculture operations loans - <$100k | 143 | $4,019 | $28,105 |
| Agriculture operations loans - $100-250k | 89 | $8,533 | $95,876 |
| Agriculture operations loans - $250k-1MM | 72 | $16,598 | $230,528 |