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

Review & Overview

First National Bank Ames Iowa is a smaller bank specializing in Refi and Home Purchase loans. First National Bank Ames Iowa has a high proportion of conventional loans. Their top markets by origination volume include: Des Moines, Ames, Pella, Mason City, and St. Louis among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

First National Bank Ames Iowa 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

208

Origination Dollar Volume (All Markets)

$88,740,000

Employee count

134

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
DES MOINES-WEST DES MOINES, IA (FHA\|USDA\|VA)	78	$42,040,000	$538,974	$0	0.00%
AMES, IA (FHA\|USDA\|VA)	95	$40,935,000	$430,895	$0	0.00%
Outside of Metro Areas	29	$3,265,000	$112,586	$0	0.00%
Pella, IA (FHA\|USDA\|VA)	2	$1,020,000	$510,000	$0	0.00%
Mason City, IA (FHA\|USDA\|VA)	1	$945,000	$945,000	$0	0.00%
ST. LOUIS, MO-IL (FHA\|USDA\|VA)	1	$235,000	$235,000	$0	0.00%
Spirit Lake, IA (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	0.00%
CEDAR RAPIDS, IA (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	0.00%

First National Bank Ames Iowa's top markets include Des Moines, Ames, Pella, Mason City, and St. Louis among others.

Their top states include:

Iowa (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	208	$88,740,000	$426,635	$0	0.00%

For 2019, First National Bank Ames Iowa's most frequently originated type of loan was Conventional, with 208 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	112	$54,040,000	$482,500	$0	0.00%
Home Purchase	85	$33,905,000	$398,882	$0	0.00%
Home Improvement	7	$535,000	$76,429	$0	0.00%
Other	4	$260,000	$65,000	$0	0.00%

For 2019, First National Bank Ames Iowa's most frequently cited loan purpose was Refi, with 112 originations. The 2nd most popular reason was Home Purchase, with 85 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	208	$88,740,000	$426,635	$0	0.00%

For 2019, First National Bank Ames Iowa's most frequently cited loan duration was Other, with 208 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	60	$8,460,000	$141,000	$0	0.00%
$100,000 or less	57	$2,935,000	$51,491	$0	0.00%
$200k-400k	49	$13,075,000	$266,837	$0	0.00%
$1MM+	16	$48,510,000	$3,031,875	$0	0.00%
$400k-600k	16	$7,510,000	$469,375	$0	0.00%
$600k-1MM	10	$8,250,000	$825,000	$0	0.00%

2019 saw First National Bank Ames Iowa place emphasis on $100k-200k loans with 60 originations, totaling $8,460,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$150k-250k	24	$4,920,000	$205,000	$0	0.00%
$75k-100k	24	$2,990,000	$124,583	$0	0.00%
$100k-150k	19	$4,135,000	$217,632	$0	0.00%
$250k+	17	$5,675,000	$333,824	$0	0.00%
$50k-75k	17	$2,675,000	$157,353	$0	0.00%
$50k or less	16	$760,000	$47,500	$0	0.00%

First National Bank Ames Iowa lent most frequently to those with incomes in the $150k-250k range, with 24 originations. The second most popular income band? $75k-100k, with 24 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	208	$88,740,000	$426,635	$0	0.00%

First National Bank Ames Iowa lent most frequently to those with DTI ratios of Exempt%, with 208 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	82	$65,670,000	$800,854	$0	0.00%
White	116	$20,360,000	$175,517	$0	0.00%
Not provided	5	$1,425,000	$285,000	$0	0.00%
Asian	4	$1,180,000	$295,000	$0	0.00%
American Indian	1	$105,000	$105,000	$0	0.00%

Approval Rates

Total approvals of all applications
93.38%

First National Bank Ames Iowa has an average approval rate.

Pick Rate

Approvals leading to origination
78.85%

First National Bank Ames Iowa has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	208	$88,740,000	$426,635

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	53	$63,405,000	$1,196,321
Single Family (1-4 Units):Manufactured	1	$55,000	$55,000
Single Family (1-4 Units):Site-Built	154	$25,280,000	$164,156

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Closing on a mortgage	2	33.3%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	1	16.7%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Trouble during payment process	3	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	$34,202
First National Bank, Ames, Iowa	1320 Jeffreys Drive Osceola, IA 50213	Full Service B&M	$0
First National Bank, Ames, Iowa	139 S Main Street Osceola, IA 50213	Full Service B&M	$95,238
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	$539,624
First National Bank, Ames, Iowa	415 Maple Murray, IA 50174	Limited, Drive-thru	$0
First National Bank, Ames, Iowa	5625 Mills Civic Parkway West Des Moines, IA 50266	Full Service B&M	$76,731
First National Bank, Ames, Iowa	8430 Birchwood Court, Suite 1100 Johnston, IA 50131	Full Service B&M	$0

For 2019, First National Bank Ames Iowa had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$30,021
Net interest income	$24,698
Total noninterest income	$5,830
Gross Fiduciary activities income	$2,098
Service charges on deposit accounts	$689
Trading account gains and fees	$0
Additional Noninterest Income	$3,043
Pre-tax net operating income	$12,356
Securities gains (or losses, -)	$2
Income before extraordinary items	$10,279
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$10,279
Minority interest net income	$0
Net income	$10,279
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$10,277

First National Bank Ames Iowa's gross interest income from loans was $30,021,000.
First National Bank Ames Iowa's net interest income from loans was $24,698,000.
First National Bank Ames Iowa's fee based income from loans was $689,000.
First National Bank Ames Iowa's net income from loans was $10,279,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$5,323
Provision for credit losses	$250
Total noninterest expense	$17,922
Salaries and employee benefits	$10,214
Premises and equipment expense	$2,188
Additional noninterest expense	$5,520
Applicable income taxes	$2,079
Net charge-offs	$-18
Cash dividends	$5,200

First National Bank Ames Iowa's interest expense for loans was $5,323,000.
First National Bank Ames Iowa's payroll and benefits expense were $10,214,000.
First National Bank Ames Iowa's property, plant and equipment expenses $2,188,000.

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	$791,656
Deposits held in domestic offices	$791,656
Deposits by Individuals, partnerships, and corporations	$667,996
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$104,917
Deposits by Commercial banks and other depository institutions in U.S.	$18,743
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$88,469
Demand deposits	$43,253
Nontransaction accounts	$703,187
Money market deposit accounts (MMDAs)	$196,936
Other savings deposits (excluding MMDAs)	$391,509
Total time deposits	$114,742
Total time and savings deposits	$748,403
Noninterest-bearing deposits	$160,270
Interest-bearing deposits	$631,386
Retail deposits	$763,434
IRAs and Keogh plan accounts	$12,790
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$913,271
Cash & Balances due from depository institutions	$95,537
Interest-bearing balances	$70,205
Total securities	$256,788
Federal funds sold & reverse repurchase	$1,000
Net loans and leases	$532,120
Loan and leases loss allowance	$6,414
Trading account assets	$0
Bank premises and fixed assets	$8,253
Other real estate owned	$0
Goodwill and other intangibles	$6,282
All other assets	$13,291

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$913,271
Total Liabilities	$824,172
Total deposits	$791,656
Interest-bearing deposits	$631,386
Deposits held in domestic offices	$791,656
% insured (estimated)	$69
Federal funds purchased and repurchase agreements	$29,918
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$2,598

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$532,120
Loan and leases loss allowance	$6,414
Total loans and leases (domestic)	$538,534
All real estate loans	$491,654
Real estate loans in domestic offices	$491,654
Construction and development loans	$27,345
Residential 1-4 family construction	$16,043
Other construction, all land development and other land	$11,302
Loans secured by nonfarm nonresidential properties	$221,662
Nonfarm nonresidential secured by owner-occupied properties	$90,068
Commercial real estate & other non-farm, non-residential	$131,594
Multifamily residential real estate	$104,776
1-4 family residential loans	$105,039
Farmland loans	$32,832
Loans held in foreign offices	$0
Farm loans	$7,029
Commercial and industrial loans	$25,833
To non-U.S. addressees	$0
Loans to individuals	$4,752
Credit card loans	$0
Related Plans	$113
Consumer Auto Loans	$916
Other loans to individuals	$3,723
All other loans & leases	$9,344
Loans to foreign governments and official institutions	$0
Other loans	$293
Loans to depository institutions and acceptances of other banks	$4,393
Loans not secured by real estate	$5,311
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 $532,120,000 of loans outstanding in 2019. $491,654,000 of loans were in real estate loans. $27,345,000 of loans were in development loans. $104,776,000 of loans were in multifamily mortgage loans. $105,039,000 of loans were in 1-4 family mortgage loans. $7,029,000 of loans were in farm loans. $0 of loans were in credit card loans. $916,000 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	208	$46,607	$224,072
Nonfarm, nonresidential loans - <$100k	56	$3,004	$53,643
Nonfarm, nonresidential loans - $100-250k	58	$7,906	$136,310
Nonfarm, nonresidential loans - $250k-1MM	94	$35,697	$379,755
Commercial & Industrial, US addressed loans - <$1MM	177	$10,620	$60,000
Commercial & Industrial, US addressed loans - <$100k	140	$3,727	$26,621
Commercial & Industrial, US addressed loans - $100-250k	20	$2,187	$109,350
Commercial & Industrial, US addressed loans - $250k-1MM	17	$4,706	$276,824
Farmland loans - <$1MM	180	$21,036	$116,867
Farmland loans - <$100k	87	$3,094	$35,563
Farmland loans - $100-250k	59	$7,808	$132,339
Farmland loans - $250k-1MM	34	$10,134	$298,059
Agriculture operations loans - <$1MM	221	$6,295	$28,484
Agriculture operations loans - <$100k	205	$4,249	$20,727
Agriculture operations loans - $100-250k	12	$1,600	$133,333
Agriculture operations loans - $250k-1MM	4	$446	$111,500