First Western Federal Savings Bank Mortgage Rates, Fees & Info
Rapid City, SD
LEI: 549300N1R0R39PYT7O68
Tax ID: 46-0350990
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Mortgage Data
Bank Data
Review & Overview
First Western Federal Savings Bank is a smaller bank specializing in
Home Purchase loans. First Western Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include:
Austin, Orlando, Minneapolis, Houston, and Durango among others. We have data for
63 markets. (Some data included below & more in-depth data is available with
an active subscription.)
First Western Federal Savings Bank 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
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use advanced statistical techniques to forecast different rates based on a lender's historical data.
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Originations
101
Origination Dollar Volume (All Markets)
$13,105,000
Employee count
8
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 |
|
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)
|
4
|
$1,140,000 |
$285,000 |
$0 |
0.00% |
|
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)
|
6
|
$970,000 |
$161,667 |
$0 |
0.00% |
|
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA)
|
4
|
$620,000 |
$155,000 |
$0 |
0.00% |
|
Outside of Metro Areas
|
4 |
$560,000 |
$140,000 |
$0 |
0.00% |
|
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)
|
5
|
$535,000 |
$107,000 |
$0 |
0.00% |
|
Durango, CO (FHA|USDA|VA)
|
1
|
$535,000 |
$535,000 |
$0 |
0.00% |
|
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA)
|
1
|
$415,000 |
$415,000 |
$0 |
0.00% |
|
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)
|
1
|
$375,000 |
$375,000 |
$0 |
0.00% |
|
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)
|
3
|
$365,000 |
$121,667 |
$0 |
0.00% |
|
MEMPHIS, TN-MS-AR (FHA|USDA|VA)
|
5
|
$305,000 |
$61,000 |
$0 |
0.00% |
|
MANSFIELD, OH (FHA|USDA|VA)
|
1
|
$305,000 |
$305,000 |
$0 |
0.00% |
|
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA)
|
1
|
$305,000 |
$305,000 |
$0 |
0.00% |
|
REDDING, CA (FHA|USDA|VA)
|
1
|
$305,000 |
$305,000 |
$0 |
0.00% |
|
LINCOLN, NE (FHA|USDA|VA)
|
1
|
$285,000 |
$285,000 |
$0 |
0.00% |
|
HUNTSVILLE, AL (FHA|USDA|VA)
|
1
|
$275,000 |
$275,000 |
$0 |
0.00% |
|
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA)
|
1
|
$255,000 |
$255,000 |
$0 |
0.00% |
|
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA)
|
2
|
$250,000 |
$125,000 |
$0 |
0.00% |
|
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA)
|
2
|
$250,000 |
$125,000 |
$0 |
0.00% |
|
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA)
|
1
|
$245,000 |
$245,000 |
$0 |
0.00% |
|
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)
|
3
|
$245,000 |
$81,667 |
$0 |
0.00% |
|
Payson, AZ (FHA|USDA|VA)
|
2
|
$200,000 |
$100,000 |
$0 |
0.00% |
|
CHARLOTTESVILLE, VA (FHA|USDA|VA)
|
1
|
$195,000 |
$195,000 |
$0 |
0.00% |
|
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA)
|
2
|
$190,000 |
$95,000 |
$0 |
0.00% |
|
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)
|
2
|
$190,000 |
$95,000 |
$0 |
0.00% |
|
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA)
|
1
|
$175,000 |
$175,000 |
$0 |
0.00% |
|
SHERMAN-DENISON, TX (FHA|USDA|VA)
|
2
|
$170,000 |
$85,000 |
$0 |
0.00% |
|
WILMINGTON, NC (FHA|USDA|VA)
|
2
|
$170,000 |
$85,000 |
$0 |
0.00% |
|
Granbury, TX (FHA|USDA|VA)
|
1
|
$155,000 |
$155,000 |
$0 |
0.00% |
|
PANAMA CITY, FL (FHA|USDA|VA)
|
1
|
$155,000 |
$155,000 |
$0 |
0.00% |
|
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)
|
1
|
$145,000 |
$145,000 |
$0 |
0.00% |
|
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)
|
1
|
$145,000 |
$145,000 |
$0 |
0.00% |
|
COLUMBUS, OH (FHA|USDA|VA)
|
2
|
$140,000 |
$70,000 |
$0 |
0.00% |
|
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA)
|
1
|
$135,000 |
$135,000 |
$0 |
0.00% |
|
BEND, OR (FHA|USDA|VA)
|
1
|
$125,000 |
$125,000 |
$0 |
0.00% |
|
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA)
|
1
|
$115,000 |
$115,000 |
$0 |
0.00% |
|
Detroit-Warren-Dearborn, MI (FHA|USDA|VA)
|
2
|
$110,000 |
$55,000 |
$0 |
0.00% |
|
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)
|
2
|
$110,000 |
$55,000 |
$0 |
0.00% |
|
DAYTON-KETTERING, OH (FHA|USDA|VA)
|
2
|
$110,000 |
$55,000 |
$0 |
0.00% |
|
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA)
|
1
|
$95,000 |
$95,000 |
$0 |
0.00% |
|
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA)
|
1
|
$95,000 |
$95,000 |
$0 |
0.00% |
|
Truckee-Grass Valley, CA (FHA|USDA|VA)
|
1
|
$95,000 |
$95,000 |
$0 |
0.00% |
|
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA)
|
2
|
$90,000 |
$45,000 |
$0 |
0.00% |
|
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA)
|
1
|
$85,000 |
$85,000 |
$0 |
0.00% |
|
PROVO-OREM, UT (FHA|USDA|VA)
|
1
|
$85,000 |
$85,000 |
$0 |
0.00% |
|
LYNCHBURG, VA (FHA|USDA|VA)
|
1
|
$85,000 |
$85,000 |
$0 |
0.00% |
|
SANTA ROSA-PETALUMA, CA (FHA|USDA|VA)
|
1
|
$85,000 |
$85,000 |
$0 |
0.00% |
|
IDAHO FALLS, ID (FHA|USDA|VA)
|
1
|
$75,000 |
$75,000 |
$0 |
0.00% |
|
KANSAS CITY, MO-KS (FHA|USDA|VA)
|
1
|
$75,000 |
$75,000 |
$0 |
0.00% |
|
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA)
|
1
|
$75,000 |
$75,000 |
$0 |
0.00% |
|
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)
|
1
|
$75,000 |
$75,000 |
$0 |
0.00% |
|
MONTGOMERY, AL (FHA|USDA|VA)
|
1
|
$75,000 |
$75,000 |
$0 |
0.00% |
|
FAYETTEVILLE, NC (FHA|USDA|VA)
|
1
|
$75,000 |
$75,000 |
$0 |
0.00% |
|
LOUISVILLE, KY (FHA|USDA|VA)
|
1
|
$65,000 |
$65,000 |
$0 |
0.00% |
|
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA)
|
1
|
$65,000 |
$65,000 |
$0 |
0.00% |
|
WINSTON-SALEM, NC (FHA|USDA|VA)
|
1
|
$65,000 |
$65,000 |
$0 |
0.00% |
|
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA)
|
1
|
$65,000 |
$65,000 |
$0 |
0.00% |
|
JACKSONVILLE, NC (FHA|USDA|VA)
|
1
|
$65,000 |
$65,000 |
$0 |
0.00% |
|
Laramie, WY (FHA|USDA|VA)
|
1
|
$65,000 |
$65,000 |
$0 |
0.00% |
|
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA)
|
1
|
$65,000 |
$65,000 |
$0 |
0.00% |
|
OKLAHOMA CITY, OK (FHA|USDA|VA)
|
1
|
$55,000 |
$55,000 |
$0 |
0.00% |
|
ALBANY, GA (FHA|USDA|VA)
|
1
|
$55,000 |
$55,000 |
$0 |
0.00% |
|
Sikeston, MO (FHA|USDA|VA)
|
1
|
$55,000 |
$55,000 |
$0 |
0.00% |
|
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA)
|
1
|
$45,000 |
$45,000 |
$0 |
0.00% |
Product Mix
| Loan Type |
Originations |
Total Value |
Avg. Loan |
Avg. Fees |
Avg. Rate |
| Conventional |
101 |
$13,105,000 |
$129,752 |
$0 |
0.00% |
For 2019, First Western Federal Savings Bank's most frequently
originated type
of loan was Conventional, with 101 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Avg. Loan |
Avg. Fees |
Avg. Rate |
| Home Purchase |
91 |
$11,955,000 |
$131,374 |
$0 |
0.00% |
| Refi |
10 |
$1,150,000 |
$115,000 |
$0 |
0.00% |
For 2019, First Western Federal Savings Bank's most frequently cited loan
purpose was Home Purchase, with 91
originations.
The 2nd most popular reason was Refi,
with 10 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Other |
101 |
$13,105,000 |
$129,752 |
$0 |
0.00% |
For 2019, First Western Federal Savings Bank's most frequently cited loan
duration was Other, with 101 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100,000 or less |
57 |
$3,975,000 |
$69,737 |
$0 |
0.00% |
| $100k-200k |
28 |
$3,810,000 |
$136,071 |
$0 |
0.00% |
| $200k-400k |
13 |
$3,745,000 |
$288,077 |
$0 |
0.00% |
| $400k-600k |
2 |
$950,000 |
$475,000 |
$0 |
0.00% |
| $600k-1MM |
1 |
$625,000 |
$625,000 |
$0 |
0.00% |
2019 saw First Western Federal Savings Bank place emphasis on
$100,000 or less loans
with 57 originations, totaling
$3,975,000 in origination value.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Exempt% |
101 |
$13,105,000 |
$129,752 |
$0 |
0.00% |
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Not applicable |
101 |
$13,105,000 |
$129,752 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
80.30%
First Western Federal Savings Bank has a below average approval rate.
Pick Rate
Approvals leading to origination
47.52%
First Western Federal Savings Bank has a low pick rate. They may have issues
with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| Exempt |
101 |
$13,105,000 |
$129,752 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
| Multifamily:Site-Built |
2 |
$590,000 |
$295,000 |
| Single Family (1-4 Units):Site-Built |
99 |
$12,515,000 |
$126,414 |
Complaints
| Bank Name |
Product |
Issue |
2019 CPFB Complaints |
% of Total Issues |
| FIRST HORIZON BANK |
Conventional home mortgage |
Trouble during payment process |
4 |
26.7% |
| FIRST HORIZON BANK |
Conventional home mortgage |
Struggling to pay mortgage |
1 |
6.7% |
| FIRST HORIZON BANK |
VA mortgage |
Closing on a mortgage |
1 |
6.7% |
| FIRST HORIZON BANK |
VA mortgage |
Applying for a mortgage or refinancing an existing mortgage |
1 |
6.7% |
| FIRST HORIZON BANK |
Other type of mortgage |
Trouble during payment process |
1 |
6.7% |
| FIRST HORIZON BANK |
Home equity loan or line of credit (HELOC) |
Trouble during payment process |
3 |
20.0% |
| FIRST HORIZON BANK |
Home equity loan or line of credit (HELOC) |
Closing on a mortgage |
1 |
6.7% |
| FIRST HORIZON BANK |
FHA mortgage |
Trouble during payment process |
2 |
13.3% |
| FIRST HORIZON BANK |
FHA mortgage |
Struggling to pay mortgage |
1 |
6.7% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| First Western Federal Savings Bank |
402 Main Street Rapid City, SD 57709 |
Full Service B&M
|
$44,214 |
For 2019, First Western Federal Savings Bank had 1 branches.
Yearly Performance Overview
Bank Income
First Western Federal Savings Bank's gross interest income from loans was $3,896,000.
First Western Federal Savings Bank's net interest income from loans was $2,884,000.
First Western Federal Savings Bank's fee based income from loans was $1,000.
First Western Federal Savings Bank's net income from loans was $1,284,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$1,012 |
| Provision for credit losses |
$15 |
| Total noninterest expense |
$1,617 |
| Salaries and employee benefits |
$884 |
| Premises and equipment expense |
$176 |
| Additional noninterest expense |
$557 |
| Applicable income taxes |
$0 |
| Net charge-offs |
$0 |
| Cash dividends |
$973 |
First Western Federal Savings Bank's interest expense for loans was $1,012,000.
First Western Federal Savings Bank's payroll and benefits expense were $884,000.
First Western Federal Savings Bank's property, plant and equipment expenses $176,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$49,135 |
| Deposits held in domestic offices |
$49,135 |
| Deposits by Individuals, partnerships, and corporations |
$42,582 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$6,303 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$249 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$6,025 |
| Demand deposits |
$4,992 |
| Nontransaction accounts |
$43,109 |
| Money market deposit accounts (MMDAs) |
$5,931 |
| Other savings deposits (excluding MMDAs) |
$1,305 |
| Total time deposits |
$35,873 |
| Total time and savings deposits |
$44,142 |
| Noninterest-bearing deposits |
$3,485 |
| Interest-bearing deposits |
$45,650 |
| Retail deposits |
$46,430 |
| IRAs and Keogh plan accounts |
$0 |
| Brokered deposits |
$0 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$61,420 |
| Cash & Balances due from depository institutions |
$3,401 |
| Interest-bearing balances |
$3,291 |
| Total securities |
$8 |
| Federal funds sold & reverse repurchase |
$0 |
| Net loans and leases |
$57,106 |
| Loan and leases loss allowance |
$389 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$266 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$0 |
| All other assets |
$639 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$61,420 |
| Total Liabilities |
$52,621 |
| Total deposits |
$49,135 |
| Interest-bearing deposits |
$45,650 |
| Deposits held in domestic offices |
$49,135 |
| % insured (estimated) |
$91 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$2,800 |
| Subordinated debt |
$0 |
| All other liabilities |
$686 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$57,106 |
| Loan and leases loss allowance |
$389 |
| Total loans and leases (domestic) |
$57,495 |
| All real estate loans |
$57,565 |
| Real estate loans in domestic offices |
$57,565 |
| Construction and development loans |
$36 |
| Residential 1-4 family construction |
$0 |
| Other construction, all land development and other land |
$36 |
| Loans secured by nonfarm nonresidential properties |
$2,618 |
| Nonfarm nonresidential secured by owner-occupied properties |
$657 |
| Commercial real estate & other non-farm, non-residential |
$1,961 |
| Multifamily residential real estate |
$1,782 |
| 1-4 family residential loans |
$52,287 |
| Farmland loans |
$842 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$0 |
| Commercial and industrial loans |
$0 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$119 |
| Credit card loans |
$0 |
| Related Plans |
$0 |
| Consumer Auto Loans |
$84 |
| Other loans to individuals |
$35 |
| All other loans & leases |
$0 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$0 |
| 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 |
$105 |
| Non 1-4 family restructured loans & leases |
$0 |
| Total loans and leases (foreign) |
$0 |
First Western Federal Savings Bank had $57,106,000 of loans outstanding in 2019. $57,565,000 of loans were in real estate loans.
$36,000 of loans were in development loans. $1,782,000 of loans were in multifamily mortgage loans.
$52,287,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $84,000 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 |
16 |
$1,961 |
$122,563 |
| Nonfarm, nonresidential loans - <$100k |
7 |
$363 |
$51,857 |
| Nonfarm, nonresidential loans - $100-250k |
5 |
$488 |
$97,600 |
| Nonfarm, nonresidential loans - $250k-1MM |
4 |
$1,110 |
$277,500 |
| Farmland loans - <$1MM |
10 |
$842 |
$84,200 |
| Farmland loans - <$100k |
7 |
$293 |
$41,857 |
| Farmland loans - $100-250k |
2 |
$163 |
$81,500 |
| Farmland loans - $250k-1MM |
1 |
$386 |
$386,000 |