First Western Federal Savings Bank Mortgage Rates, Fees & Info
Rapid City, SDLEI: 549300N1R0R39PYT7O68
Tax ID: 46-0350990
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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: Dallas, Atlanta, San Antonio, Jacksonville, and Riverside among others. We have data for 78 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.
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Originations
132Origination Dollar Volume (All Markets)
$18,300,000Employee count
9Top 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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 7 | $1,125,000 | $160,714 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 9 | $745,000 | $82,778 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $625,000 | $208,333 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $605,000 | $201,667 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 3 | $555,000 | $185,000 | $0 | 0.00% |
| BOISE CITY, ID (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 4 | $410,000 | $102,500 | $0 | 0.00% |
| PANAMA CITY, FL (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $0 | 0.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $390,000 | $195,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 0.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| KANSAS CITY, MO-KS (FHA|USDA|VA) | 4 | $350,000 | $87,500 | $0 | 0.00% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $0 | 0.00% |
| MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $0 | 0.00% |
| ROCKFORD, IL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 3 | $315,000 | $105,000 | $0 | 0.00% |
| OCALA, FL (FHA|USDA|VA) | 3 | $305,000 | $101,667 | $0 | 0.00% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| MADERA, CA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 0.00% |
| Eureka-Arcata, CA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| URBAN HONOLULU, HI (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 0.00% |
| STOCKTON, CA (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 2 | $230,000 | $115,000 | $0 | 0.00% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| CLEVELAND-ELYRIA, OH (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| BAKERSFIELD, CA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| SAVANNAH, GA (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $0 | 0.00% |
| ABILENE, TX (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Mountain Home, ID (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| KNOXVILLE, TN (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $160,000 | $80,000 | $0 | 0.00% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| TYLER, TX (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| PROVO-OREM, UT (FHA|USDA|VA) | 2 | $150,000 | $75,000 | $0 | 0.00% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| ST. GEORGE, UT (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| CORPUS CHRISTI, TX (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) | 2 | $130,000 | $65,000 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| BURLINGTON-SOUTH BURLINGTON, VT (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| MUSKEGON, MI (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $100,000 | $50,000 | $0 | 0.00% |
| Clewiston, FL (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| Alamogordo, NM (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| ST. LOUIS, MO-IL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| LONGVIEW, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| CINCINNATI, OH-KY-IN (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
| Wabash, IN (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 132 | $18,300,000 | $138,636 | $0 | 0.00% |
For 2021, First Western Federal Savings Bank's most frequently originated type of loan was Conventional, with 132 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 125 | $17,315,000 | $138,520 | $0 | 0.00% |
| Refi | 6 | $820,000 | $136,667 | $0 | 0.00% |
| Cash Out Refi | 1 | $165,000 | $165,000 | $0 | 0.00% |
For 2021, First Western Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 125 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 132 | $18,300,000 | $138,636 | $0 | 0.00% |
For 2021, First Western Federal Savings Bank's most frequently cited loan duration was Other, with 132 originations.
Loan Sizing
2021 saw First Western Federal Savings Bank place emphasis on $100k-200k loans with 54 originations, totaling $7,360,000 in origination value.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 132 | $18,300,000 | $138,636 | $0 | 0.00% |
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 132 | $18,300,000 | $138,636 | $0 | 0.00% |
Approval Rates
Total approvals of all applications89.53%
First Western Federal Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination72.73%
First Western Federal Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 132 | $18,300,000 | $138,636 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 6 | 17.6% |
| FIRST HORIZON BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Other type of mortgage | Closing on a mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 2.9% |
| FIRST HORIZON BANK | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 10 | 29.4% |
| FIRST HORIZON BANK | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | FHA mortgage | Closing on a mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 2 | 5.9% |
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 | $40,947 |
For 2021, First Western Federal Savings Bank had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $3,592 |
| Net interest income | $3,447 |
| Total noninterest income | $4 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $2 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2 |
| Pre-tax net operating income | $1,797 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $1,797 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,797 |
| Minority interest net income | $0 |
| Net income | $1,797 |
| Sale, conversion, retirement of capital stock, net | $25 |
| Net operating income | $1,797 |
First Western Federal Savings Bank's gross interest income from loans was $3,592,000.
First Western Federal Savings Bank's net interest income from loans was $3,447,000.
First Western Federal Savings Bank's fee based income from loans was $2,000.
First Western Federal Savings Bank's net income from loans was $1,797,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $145 |
| Provision for credit losses | $0 |
| Total noninterest expense | $1,654 |
| Salaries and employee benefits | $913 |
| Premises and equipment expense | $156 |
| Additional noninterest expense | $585 |
| Applicable income taxes | $0 |
| Net charge-offs | $0 |
| Cash dividends | $1,341 |
First Western Federal Savings Bank's interest expense for loans was $145,000.
First Western Federal Savings Bank's payroll and benefits expense were $913,000.
First Western Federal Savings Bank's property, plant and equipment expenses $156,000.
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 | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| 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 | $42,218 |
| Deposits held in domestic offices | $42,218 |
| Deposits by Individuals, partnerships, and corporations | $40,129 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $1,840 |
| 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 | $6,677 |
| Demand deposits | $5,550 |
| Nontransaction accounts | $35,541 |
| Money market deposit accounts (MMDAs) | $21,636 |
| Other savings deposits (excluding MMDAs) | $1,747 |
| Total time deposits | $12,157 |
| Total time and savings deposits | $36,668 |
| Noninterest-bearing deposits | $3,964 |
| Interest-bearing deposits | $38,254 |
| Retail deposits | $41,705 |
| IRAs and Keogh plan accounts | $0 |
| Brokered deposits | $8,006 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $63,411 |
| Cash & Balances due from depository institutions | $4,068 |
| Interest-bearing balances | $3,954 |
| Total securities | $4 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $58,330 |
| Loan and leases loss allowance | $389 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $249 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $760 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $63,411 |
| Total Liabilities | $53,697 |
| Total deposits | $42,218 |
| Interest-bearing deposits | $38,254 |
| Deposits held in domestic offices | $42,218 |
| % insured (estimated) | $58 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $11,255 |
| Subordinated debt | $0 |
| All other liabilities | $224 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $58,330 |
| Loan and leases loss allowance | $389 |
| Total loans and leases (domestic) | $58,719 |
| All real estate loans | $58,790 |
| Real estate loans in domestic offices | $58,790 |
| Construction and development loans | $9 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $9 |
| Loans secured by nonfarm nonresidential properties | $1,244 |
| Nonfarm nonresidential secured by owner-occupied properties | $136 |
| Commercial real estate & other non-farm, non-residential | $1,108 |
| Multifamily residential real estate | $1,216 |
| 1-4 family residential loans | $56,124 |
| Farmland loans | $197 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $43 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $8 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $8 |
| 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 | $97 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
First Western Federal Savings Bank had $58,330,000 of loans outstanding in 2021. $58,790,000 of loans were in real estate loans. $9,000 of loans were in development loans. $1,216,000 of loans were in multifamily mortgage loans. $56,124,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 | 9 | $1,109 | $123,222 |
| Nonfarm, nonresidential loans - <$100k | 4 | $182 | $45,500 |
| Nonfarm, nonresidential loans - $100-250k | 3 | $292 | $97,333 |
| Nonfarm, nonresidential loans - $250k-1MM | 2 | $635 | $317,500 |
| Commercial & Industrial, US addressed loans - <$1MM | 2 | $43 | $21,500 |
| Commercial & Industrial, US addressed loans - <$100k | 2 | $43 | $21,500 |
| Farmland loans - <$1MM | 5 | $197 | $39,400 |
| Farmland loans - <$100k | 5 | $197 | $39,400 |