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: Ames, Des Moines, Mason City, Spirit Lake, and Waterloo among others. We have data for 6 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

285

Origination Dollar Volume (All Markets)

$115,575,000

Employee count

132

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)	120	$56,040,000	$467,000	$0	0.00%
DES MOINES-WEST DES MOINES, IA (FHA\|USDA\|VA)	111	$53,215,000	$479,414	$0	0.00%
Outside of Metro Areas	51	$5,175,000	$101,471	$0	0.00%
Mason City, IA (FHA\|USDA\|VA)	1	$565,000	$565,000	$0	0.00%
Spirit Lake, IA (FHA\|USDA\|VA)	1	$395,000	$395,000	$0	0.00%
WATERLOO-CEDAR FALLS, IA (FHA\|USDA\|VA)	1	$185,000	$185,000	$0	0.00%

First National Bank Ames Iowa's top markets include Ames, Des Moines, Mason City, Spirit Lake, and Waterloo among others.

Their top states include:

Iowa (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	285	$115,575,000	$405,526	$0	0.00%

For 2020, First National Bank Ames Iowa's most frequently originated type of loan was Conventional, with 285 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	150	$58,650,000	$391,000	$0	0.00%
Home Purchase	110	$55,100,000	$500,909	$0	0.00%
Home Improvement	17	$995,000	$58,529	$0	0.00%
Other	8	$830,000	$103,750	$0	0.00%

For 2020, First National Bank Ames Iowa's most frequently cited loan purpose was Refi, with 150 originations. The 2nd most popular reason was Home Purchase, with 110 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	285	$115,575,000	$405,526	$0	0.00%

For 2020, First National Bank Ames Iowa's most frequently cited loan duration was Other, with 285 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	86	$12,480,000	$145,116	$0	0.00%
$100,000 or less	77	$4,505,000	$58,506	$0	0.00%
$200k-400k	61	$17,485,000	$286,639	$0	0.00%
$1MM+	25	$60,515,000	$2,420,600	$0	0.00%
$400k-600k	25	$12,085,000	$483,400	$0	0.00%
$600k-1MM	11	$8,505,000	$773,182	$0	0.00%

2020 saw First National Bank Ames Iowa place emphasis on $100k-200k loans with 86 originations, totaling $12,480,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	33	$6,245,000	$189,242	$0	0.00%
$75k-100k	29	$4,045,000	$139,483	$0	0.00%
$50k-75k	27	$2,345,000	$86,852	$0	0.00%
$50k or less	23	$1,845,000	$80,217	$0	0.00%
$150k-250k	20	$4,830,000	$241,500	$0	0.00%
$250k+	13	$4,515,000	$347,308	$0	0.00%

First National Bank Ames Iowa lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $75k-100k, with 29 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	285	$115,575,000	$405,526	$0	0.00%

First National Bank Ames Iowa lent most frequently to those with DTI ratios of Exempt%, with 285 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	131	$89,525,000	$683,397	$0	0.00%
White	136	$21,930,000	$161,250	$0	0.00%
Not provided	15	$3,465,000	$231,000	$0	0.00%
Asian	2	$620,000	$310,000	$0	0.00%
Asian Indian	1	$35,000	$35,000	$0	0.00%

Approval Rates

Total approvals of all applications
93.11%

First National Bank Ames Iowa has an average approval rate.

Pick Rate

Approvals leading to origination
72.63%

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

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	285	$115,575,000	$405,526

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	58	$75,540,000	$1,302,414
Single Family (1-4 Units):Manufactured	2	$220,000	$110,000
Single Family (1-4 Units):Site-Built	225	$39,815,000	$176,956

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	14.3%
FIRST NATIONAL BANK OF OMAHA	Other type of mortgage	Trouble during payment process	1	14.3%
FIRST NATIONAL BANK OF OMAHA	FHA mortgage	Struggling to pay mortgage	1	14.3%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Trouble during payment process	2	28.6%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	2	28.6%

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	$47,708
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	$101,717
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	$607,180
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	$99,235
First National Bank, Ames, Iowa	8430 Birchwood Court, Suite 1100 Johnston, IA 50131	Full Service B&M	$0

For 2020, First National Bank Ames Iowa had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$31,154
Net interest income	$27,343
Total noninterest income	$5,855
Gross Fiduciary activities income	$2,078
Service charges on deposit accounts	$588
Trading account gains and fees	$0
Additional Noninterest Income	$3,189
Pre-tax net operating income	$11,253
Securities gains (or losses, -)	$430
Income before extraordinary items	$9,758
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$9,758
Minority interest net income	$0
Net income	$9,758
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$9,396

First National Bank Ames Iowa's gross interest income from loans was $31,154,000.
First National Bank Ames Iowa's net interest income from loans was $27,343,000.
First National Bank Ames Iowa's fee based income from loans was $588,000.
First National Bank Ames Iowa's net income from loans was $9,758,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,811
Provision for credit losses	$3,803
Total noninterest expense	$18,142
Salaries and employee benefits	$10,577
Premises and equipment expense	$2,203
Additional noninterest expense	$5,362
Applicable income taxes	$1,925
Net charge-offs	$416
Cash dividends	$4,600

First National Bank Ames Iowa's interest expense for loans was $3,811,000.
First National Bank Ames Iowa's payroll and benefits expense were $10,577,000.
First National Bank Ames Iowa's property, plant and equipment expenses $2,203,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	3.0%
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	$904,495
Deposits held in domestic offices	$904,495
Deposits by Individuals, partnerships, and corporations	$789,038
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$104,352
Deposits by Commercial banks and other depository institutions in U.S.	$11,105
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$102,763
Demand deposits	$59,092
Nontransaction accounts	$801,732
Money market deposit accounts (MMDAs)	$224,366
Other savings deposits (excluding MMDAs)	$465,549
Total time deposits	$111,817
Total time and savings deposits	$845,403
Noninterest-bearing deposits	$219,415
Interest-bearing deposits	$685,080
Retail deposits	$878,509
IRAs and Keogh plan accounts	$11,619
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,031,155
Cash & Balances due from depository institutions	$57,419
Interest-bearing balances	$40,982
Total securities	$326,448
Federal funds sold & reverse repurchase	$0
Net loans and leases	$620,178
Loan and leases loss allowance	$9,801
Trading account assets	$0
Bank premises and fixed assets	$8,145
Other real estate owned	$0
Goodwill and other intangibles	$5,842
All other assets	$13,123

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,031,155
Total Liabilities	$930,138
Total deposits	$904,495
Interest-bearing deposits	$685,080
Deposits held in domestic offices	$904,495
% insured (estimated)	$70
Federal funds purchased and repurchase agreements	$21,064
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$4,579

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$620,178
Loan and leases loss allowance	$9,801
Total loans and leases (domestic)	$629,979
All real estate loans	$559,852
Real estate loans in domestic offices	$559,852
Construction and development loans	$26,180
Residential 1-4 family construction	$13,569
Other construction, all land development and other land	$12,611
Loans secured by nonfarm nonresidential properties	$232,520
Nonfarm nonresidential secured by owner-occupied properties	$97,049
Commercial real estate & other non-farm, non-residential	$135,471
Multifamily residential real estate	$146,587
1-4 family residential loans	$123,010
Farmland loans	$31,555
Loans held in foreign offices	$0
Farm loans	$7,454
Commercial and industrial loans	$53,317
To non-U.S. addressees	$0
Loans to individuals	$5,344
Credit card loans	$0
Related Plans	$101
Consumer Auto Loans	$1,058
Other loans to individuals	$4,185
All other loans & leases	$4,608
Loans to foreign governments and official institutions	$0
Other loans	$210
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$3,316
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 $620,178,000 of loans outstanding in 2020. $559,852,000 of loans were in real estate loans. $26,180,000 of loans were in development loans. $146,587,000 of loans were in multifamily mortgage loans. $123,010,000 of loans were in 1-4 family mortgage loans. $7,454,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,058,000 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	$49,185	$239,927
Nonfarm, nonresidential loans - <$100k	60	$2,802	$46,700
Nonfarm, nonresidential loans - $100-250k	56	$7,482	$133,607
Nonfarm, nonresidential loans - $250k-1MM	89	$38,901	$437,090
Commercial & Industrial, US addressed loans - <$1MM	395	$31,626	$80,066
Commercial & Industrial, US addressed loans - <$100k	304	$8,415	$27,681
Commercial & Industrial, US addressed loans - $100-250k	59	$7,700	$130,508
Commercial & Industrial, US addressed loans - $250k-1MM	32	$15,511	$484,719
Farmland loans - <$1MM	164	$20,676	$126,073
Farmland loans - <$100k	73	$2,830	$38,767
Farmland loans - $100-250k	59	$7,789	$132,017
Farmland loans - $250k-1MM	32	$10,057	$314,281
Agriculture operations loans - <$1MM	181	$4,955	$27,376
Agriculture operations loans - <$100k	173	$3,789	$21,902
Agriculture operations loans - $100-250k	6	$731	$121,833
Agriculture operations loans - $250k-1MM	2	$435	$217,500