First National Bank Ames Iowa Mortgage Rates, Fees & Info

Ames, IA

LEI: 549300OIJZOV6CPR1Y57

Tax ID: 42-0114420

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

Bank Data

Review & Overview

First National Bank Ames Iowa is a smaller bank specializing in Home Purchase and Refi loans. First National Bank Ames Iowa has a high proportion of conventional loans. Their top markets by origination volume include: Ames, Des Moines, and Spirit Lake among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

First National Bank Ames Iowa 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

121

Origination Dollar Volume (All Markets)

$46,135,000

Employee count

138

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
AMES, IA (FHA|USDA|VA) 55 $24,985,000 $454,273 $0 0.00%
DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 60 $20,280,000 $338,000 $0 0.00%
Outside of Metro Areas 5 $665,000 $133,000 $0 0.00%
Spirit Lake, IA (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
First National Bank Ames Iowa's top markets include Ames, Des Moines, and Spirit Lake among others.

Their top states include:
  • Iowa (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 121 $46,135,000 $381,281 $0 0.00%

    For 2018, First National Bank Ames Iowa's most frequently originated type of loan was Conventional, with 121 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 63 $19,335,000 $306,905 $0 0.00%
    Refi 51 $26,435,000 $518,333 $0 0.00%
    Home Improvement 5 $145,000 $29,000 $0 0.00%
    Other 2 $220,000 $110,000 $0 0.00%

    For 2018, First National Bank Ames Iowa's most frequently cited loan purpose was Home Purchase, with 63 originations. The 2nd most popular reason was Refi, with 51 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 121 $46,135,000 $381,281 $0 0.00%

    For 2018, First National Bank Ames Iowa's most frequently cited loan duration was Other, with 121 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 45 $2,385,000 $53,000 $0 0.00%
    $100k-200k 35 $5,235,000 $149,571 $0 0.00%
    $200k-400k 23 $6,085,000 $264,565 $0 0.00%
    $400k-600k 8 $3,840,000 $480,000 $0 0.00%
    $1MM+ 6 $25,540,000 $4,256,667 $0 0.00%
    $600k-1MM 4 $3,050,000 $762,500 $0 0.00%

    2018 saw First National Bank Ames Iowa place emphasis on $100,000 or less loans with 45 originations, totaling $2,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 24 $3,860,000 $160,833 $0 0.00%
    $150k-250k 14 $2,650,000 $189,286 $0 0.00%
    $50k-75k 11 $1,255,000 $114,091 $0 0.00%
    $250k+ 8 $2,280,000 $285,000 $0 0.00%
    $50k or less 7 $275,000 $39,286 $0 0.00%
    $75k-100k 7 $915,000 $130,714 $0 0.00%

    First National Bank Ames Iowa lent most frequently to those with incomes in the $100k-150k range, with 24 originations. The second most popular income band? $150k-250k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 121 $46,135,000 $381,281 $0 0.00%

    First National Bank Ames Iowa lent most frequently to those with DTI ratios of Exempt%, with 121 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 45 $34,285,000 $761,889 $0 0.00%
    White 65 $10,105,000 $155,462 $0 0.00%
    Not provided 6 $1,080,000 $180,000 $0 0.00%
    Asian 3 $325,000 $108,333 $0 0.00%
    Asian Indian 1 $325,000 $325,000 $0 0.00%
    American Indian 1 $15,000 $15,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.77%

    First National Bank Ames Iowa has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.94%

    First National Bank Ames Iowa 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 121 $46,135,000 $381,281

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 21 $31,155,000 $1,483,571
    Single Family (1-4 Units):Site-Built 100 $14,980,000 $149,800

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST NATIONAL BANK OF OMAHA Home equity loan or line of credit (HELOC) Closing on a mortgage 1 50.0%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Struggling to pay mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First National Bank, Ames, Iowa 1205 North Ankeny Boulevard Ankeny, IA 50021 Full Service B&M $33,845
    First National Bank, Ames, Iowa 2406 Grand Ave Ames, IA 50010 Full Service B&M $0
    First National Bank, Ames, Iowa 301 Fifth Street West Des Moines, IA 50265 Full Service B&M $0
    First National Bank, Ames, Iowa 3334 Lincoln Way Ames, IA 50010 Full Service B&M $0
    First National Bank, Ames, Iowa 405 Fifth Street Ames, IA 50010 Full Service B&M $536,849
    First National Bank, Ames, Iowa 5625 Mills Civic Parkway West Des Moines, IA 50266 Full Service B&M $78,021
    First National Bank, Ames, Iowa 8430 Birchwood Court, Suite 1100 Johnston, IA 50131 Full Service B&M $0

    For 2018, First National Bank Ames Iowa had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,346
    Net interest income $22,621
    Total noninterest income $5,363
    Gross Fiduciary activities income $2,086
    Service charges on deposit accounts $619
    Trading account gains and fees $0
    Additional Noninterest Income $2,658
    Pre-tax net operating income $11,445
    Securities gains (or losses, -) $0
    Income before extraordinary items $9,036
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,036
    Minority interest net income $0
    Net income $9,036
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,036

    First National Bank Ames Iowa's gross interest income from loans was $26,346,000.
    First National Bank Ames Iowa's net interest income from loans was $22,621,000.
    First National Bank Ames Iowa's fee based income from loans was $619,000.
    First National Bank Ames Iowa's net income from loans was $9,036,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,725
    Provision for credit losses $423
    Total noninterest expense $16,116
    Salaries and employee benefits $9,317
    Premises and equipment expense $1,987
    Additional noninterest expense $4,812
    Applicable income taxes $2,409
    Net charge-offs $-1
    Cash dividends $4,800

    First National Bank Ames Iowa's interest expense for loans was $3,725,000.
    First National Bank Ames Iowa's payroll and benefits expense were $9,317,000.
    First National Bank Ames Iowa's property, plant and equipment expenses $1,987,000.

    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 $723,589
    Deposits held in domestic offices $723,589
    Deposits by Individuals, partnerships, and corporations $630,591
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $73,795
    Deposits by Commercial banks and other depository institutions in U.S. $19,203
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $70,102
    Demand deposits $35,668
    Nontransaction accounts $653,487
    Money market deposit accounts (MMDAs) $206,072
    Other savings deposits (excluding MMDAs) $354,234
    Total time deposits $93,181
    Total time and savings deposits $687,921
    Noninterest-bearing deposits $140,999
    Interest-bearing deposits $582,590
    Retail deposits $710,466
    IRAs and Keogh plan accounts $13,889
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $841,750
    Cash & Balances due from depository institutions $31,109
    Interest-bearing balances $5,195
    Total securities $256,350
    Federal funds sold & reverse repurchase $6,000
    Net loans and leases $521,360
    Loan and leases loss allowance $6,146
    Trading account assets $0
    Bank premises and fixed assets $8,686
    Other real estate owned $319
    Goodwill and other intangibles $6,773
    All other assets $11,153

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $841,750
    Total Liabilities $762,713
    Total deposits $723,589
    Interest-bearing deposits $582,590
    Deposits held in domestic offices $723,589
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $24,417
    Trading liabilities $0
    Other borrowed funds $12,600
    Subordinated debt $0
    All other liabilities $2,107

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $521,360
    Loan and leases loss allowance $6,146
    Total loans and leases (domestic) $527,506
    All real estate loans $472,589
    Real estate loans in domestic offices $472,589
    Construction and development loans $37,789
    Residential 1-4 family construction $24,703
    Other construction, all land development and other land $13,086
    Loans secured by nonfarm nonresidential properties $226,067
    Nonfarm nonresidential secured by owner-occupied properties $82,795
    Commercial real estate & other non-farm, non-residential $143,272
    Multifamily residential real estate $77,493
    1-4 family residential loans $101,725
    Farmland loans $29,515
    Loans held in foreign offices $0
    Farm loans $9,251
    Commercial and industrial loans $30,734
    To non-U.S. addressees $0
    Loans to individuals $3,631
    Credit card loans $0
    Related Plans $124
    Consumer Auto Loans $1,432
    Other loans to individuals $2,075
    All other loans & leases $11,384
    Loans to foreign governments and official institutions $0
    Other loans $650
    Loans to depository institutions and acceptances of other banks $4,960
    Loans not secured by real estate $10,491
    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

    First National Bank Ames Iowa had $521,360,000 of loans outstanding in 2018. $472,589,000 of loans were in real estate loans. $37,789,000 of loans were in development loans. $77,493,000 of loans were in multifamily mortgage loans. $101,725,000 of loans were in 1-4 family mortgage loans. $9,251,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,432,000 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 205 $44,633 $217,722
    Nonfarm, nonresidential loans - <$100k 57 $2,874 $50,421
    Nonfarm, nonresidential loans - $100-250k 56 $7,604 $135,786
    Nonfarm, nonresidential loans - $250k-1MM 92 $34,155 $371,250
    Commercial & Industrial, US addressed loans - <$1MM 199 $12,023 $60,417
    Commercial & Industrial, US addressed loans - <$100k 157 $4,276 $27,236
    Commercial & Industrial, US addressed loans - $100-250k 20 $2,035 $101,750
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $5,712 $259,636
    Farmland loans - <$1MM 147 $19,486 $132,558
    Farmland loans - <$100k 57 $2,512 $44,070
    Farmland loans - $100-250k 55 $7,453 $135,509
    Farmland loans - $250k-1MM 35 $9,521 $272,029
    Agriculture operations loans - <$1MM 251 $8,252 $32,876
    Agriculture operations loans - <$100k 232 $5,172 $22,293
    Agriculture operations loans - $100-250k 15 $1,665 $111,000
    Agriculture operations loans - $250k-1MM 4 $1,415 $353,750