Midwest Bankcentre Mortgage Rates, Fees & Info

Saint Louis, MO

LEI: 549300OR2C7AGDZFTS24

Tax ID: 43-0368910

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Mortgage Data

Bank Data

Review & Overview

Midwest Bankcentre is a smaller bank specializing in Home Purchase and Refi loans. Midwest Bankcentre has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: St. Louis, Naples, Bardstown, Cape Coral, and Kansas City among others. We have data for 26 markets. (Some data included below & more in-depth data is available with an active subscription.)

Midwest Bankcentre 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. Midwest Bankcentre is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.55% 4/21/24
30 Year Conventional Refi 6.23% 4/21/24
30 Year Cash-out Refi 6.21% 4/21/24
30 Year FHA Purchase 7.02% 4/21/24
30 Year FHA Refi 6.63% 4/21/24
30 Year VA Purchase 6.18% 4/21/24
15 Year Conventional Purchase 5.94% 4/21/24
15 Year Conventional Refi 5.78% 4/21/24
15 Year Cash-out Refi 5.78% 4/21/24
15 Year FHA Refi 5.68% 4/21/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Midwest Bankcentre Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Midwest Bankcentre. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

626

Origination Dollar Volume (All Markets)

$178,480,000

Employee count

253 Show all (6) awards

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
ST. LOUIS, MO-IL (FHA|USDA|VA) 574 $143,210,000 $249,495 $1,597 4.26%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 5 $16,545,000 $3,309,000 $4,488 3.85%
Outside of Metro Areas 13 $3,975,000 $305,769 $1,831 3.99%
Bardstown, KY (FHA|USDA|VA) 1 $3,085,000 $3,085,000 $0 4.49%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $2,290,000 $572,500 $4,272 3.84%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $1,135,000 $227,000 $2,300 3.75%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $995,000 $995,000 $4,193 3.38%
CAPE GIRARDEAU, MO-IL (FHA|USDA|VA) 2 $760,000 $380,000 $1,202 4.25%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 2 $600,000 $300,000 $4,803 3.88%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $535,000 $535,000 $2,055 3.63%
Farmington, MO (FHA|USDA|VA) 3 $495,000 $165,000 $1,879 3.96%
HOT SPRINGS, AR (FHA|USDA|VA) 1 $485,000 $485,000 $1,297 4.25%
BEND, OR (FHA|USDA|VA) 1 $485,000 $485,000 $2,012 4.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $485,000 $485,000 $3,282 3.25%
PITTSFIELD, MA (FHA|USDA|VA) 1 $455,000 $455,000 $2,996 5.13%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $375,000 $375,000 $463 3.50%
CHARLESTON, WV (FHA|USDA|VA) 1 $335,000 $335,000 $4,237 3.50%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $325,000 $325,000 $5,723 4.63%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $315,000 $315,000 $522 4.13%
READING, PA (FHA|USDA|VA) 1 $295,000 $295,000 $4,075 2.99%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $295,000 $295,000 $45 3.63%
LONGVIEW, TX (FHA|USDA|VA) 1 $285,000 $285,000 $3,634 3.88%
COLUMBIA, SC (FHA|USDA|VA) 1 $265,000 $265,000 $2,386 4.00%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $245,000 $245,000 $0 4.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.75%
LOUISVILLE, KY (FHA|USDA|VA) 1 $85,000 $85,000 $2,556 3.75%
Midwest Bankcentre's top markets include St. Louis, Naples, Bardstown, Cape Coral, and Kansas City among others.

Their top states include:
  • Missouri (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Kentucky (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)
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    We use machine learning to identify the top lenders compared against Midwest BankCentre based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 597 $172,755,000 $289,372 $1,584 4.25%
    FHA 25 $4,215,000 $168,600 $3,746 3.99%
    VA 4 $1,510,000 $377,500 $1,806 3.38%

    For 2019, Midwest Bankcentre's most frequently originated type of loan was Conventional, with 597 originations. Their 2nd most popular type was FHA, with 25 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 299 $96,615,000 $323,127 $2,152 4.39%
    Refi 181 $49,405,000 $272,956 $1,467 3.92%
    Cash Out Refi 95 $28,685,000 $301,947 $1,694 4.21%
    Home Improvement 38 $2,480,000 $65,263 $117 4.54%
    Other 13 $1,295,000 $99,615 $860 4.35%

    For 2019, Midwest Bankcentre's most frequently cited loan purpose was Home Purchase, with 299 originations. The 2nd most popular reason was Refi, with 181 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 350 $100,550,000 $287,286 $1,923 4.03%
    5 Year 101 $23,535,000 $233,020 $0 4.83%
    15 Year 90 $17,830,000 $198,111 $1,481 3.83%
    Other 30 $24,760,000 $825,333 $1,336 5.02%
    1 Year 20 $6,170,000 $308,500 $0 5.71%
    20 Year 19 $4,185,000 $220,263 $1,364 3.72%
    10 Year 13 $1,165,000 $89,615 $502 4.43%
    3 Year 3 $285,000 $95,000 $0 5.13%

    For 2019, Midwest Bankcentre's most frequently cited loan duration was 30 Year, with 350 originations. The 2nd most popular length was 5 Year, with 101 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 467 $119,395,000 $255,664
    $1k-2k 5 $1,435,000 $287,000
    $2k-3k 2 $530,000 $265,000

    Midwest Bankcentre's average total fees were $1,923, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 467 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 285 $78,575,000 $275,702
    4-5% 232 $78,600,000 $338,793
    5-6% 88 $17,180,000 $195,227
    2.5-3% 12 $3,010,000 $250,833
    6-7% 8 $1,090,000 $136,250
    7-8% 1 $25,000 $25,000

    During 2019, Midwest Bankcentre's average interest rate for loans was 4.03%, while their most frequently originated rate bucket for loans was 3-4%, with 285 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 199 $57,145,000 $287,161 $1,874 4.02%
    $100k-200k 192 $28,210,000 $146,927 $1,586 4.20%
    $100,000 or less 131 $6,645,000 $50,725 $914 4.72%
    $400k-600k 62 $28,940,000 $466,774 $2,216 4.00%
    $600k-1MM 25 $18,755,000 $750,200 $2,608 4.26%
    $1MM+ 17 $38,785,000 $2,281,471 $3,111 4.23%

    2019 saw Midwest Bankcentre place emphasis on $200k-400k loans with 199 originations, totaling $57,145,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 105 $26,445,000 $251,857 $1,767 4.04%
    $50k-75k 87 $12,615,000 $145,000 $1,435 4.11%
    $50k or less 85 $7,655,000 $90,059 $1,258 4.20%
    $150k-250k 80 $23,540,000 $294,250 $1,882 3.93%
    $75k-100k 66 $13,280,000 $201,212 $1,558 4.11%
    $250k+ 65 $38,125,000 $586,538 $2,571 3.92%

    Midwest Bankcentre lent most frequently to those with incomes in the $100k-150k range, with 105 originations. The second most popular income band? $50k-75k, with 87 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 139 $36,545,000 $262,914 $1,722 3.92%
    30-36% 90 $25,800,000 $286,667 $1,820 4.05%
    <20% 70 $19,670,000 $281,000 $1,916 3.85%
    36% 24 $5,560,000 $231,667 $1,166 4.21%
    39% 21 $4,825,000 $229,762 $1,301 4.04%
    38% 20 $4,390,000 $219,500 $1,658 4.31%
    37% 19 $4,375,000 $230,263 $851 4.22%
    42% 17 $3,155,000 $185,588 $1,316 3.84%
    41% 16 $3,330,000 $208,125 $1,915 4.23%
    43% 16 $3,390,000 $211,875 $1,474 3.88%
    40% 11 $2,475,000 $225,000 $2,322 3.94%
    44% 11 $2,045,000 $185,909 $1,482 4.10%
    46% 9 $1,945,000 $216,111 $2,647 3.97%
    45% 9 $1,665,000 $185,000 $2,434 4.26%
    49% 9 $2,145,000 $238,333 $1,653 4.22%
    50-60% 7 $1,575,000 $225,000 $3,020 3.82%
    48% 5 $815,000 $163,000 $1,458 3.90%
    47% 3 $665,000 $221,667 $496 4.33%

    Midwest Bankcentre lent most frequently to those with DTI ratios of 20-30%, with 139 originations. The next most common DTI ratio? 30-36%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 458 $119,130,000 $260,109 $1,762 4.01%
    Not applicable 113 $50,295,000 $445,088 $0 5.13%
    Black 45 $5,655,000 $125,667 $1,147 4.23%
    Asian 6 $3,070,000 $511,667 $2,110 4.17%
    Not provided 3 $295,000 $98,333 $0 5.12%
    American Indian 1 $35,000 $35,000 $0 4.65%

    Approval Rates

    Total approvals of all applications
    86.91%

    Midwest Bankcentre has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.46%

    Midwest Bankcentre has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 626 $178,480,000 $285,112

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $855,000 $855,000
    Multifamily:Site-Built 32 $20,060,000 $626,875
    Single Family (1-4 Units):Manufactured 1 $65,000 $65,000
    Single Family (1-4 Units):Site-Built 592 $157,500,000 $266,047

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 43 $7,285,000 $169,419 $1,513 4.23%
    40-60% 78 $36,670,000 $470,128 $1,509 4.18%
    60-80% 253 $75,295,000 $297,609 $1,676 4.27%
    80-100% 209 $57,625,000 $275,718 $2,100 4.15%
    Over 100% 6 $380,000 $63,333 $0 5.43%
    Under 20% 17 $775,000 $45,588 $384 4.92%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MIDWEST EQUITY MORTGAGE, LLC FHA mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Midwest BankCentre 1007 Bowles Avenue Fenton, MO 63026 Full Service B&M $48,570
    Midwest BankCentre 1030 Main Street Imperial, MO 63052 Full Service B&M $33,315
    Midwest BankCentre 1820 1st Capitol Drive S Saint Charles, MO 63303 Full Service B&M $34,685
    Midwest BankCentre 1950 Richardson Road Arnold, MO 63010 Full Service B&M $107,518
    Midwest BankCentre 2101 Rock Road De Soto, MO 63020 Full Service B&M $25,074
    Midwest BankCentre 2191 Lemay Ferry Road Lemay, MO 63125 Full Service B&M $473,954
    Midwest BankCentre 2191 Lemay Ferry Road Saint Louis, MO 63125 Full Service Cyber Office $99,816
    Midwest BankCentre 2299 Technology Drive O Fallon, MO 63368 Full Service B&M $67,052
    Midwest BankCentre 300 South Truman Boulevard Crystal City, MO 63019 Full Service B&M $34,702
    Midwest BankCentre 3529 North Broadway Saint Louis, MO 63147 Full Service B&M $37,472
    Midwest BankCentre 4914 Gravois St. Louis, MO 63116 Full Service B&M $53,265
    Midwest BankCentre 500 Chesterfield Center, Suite 100 Chesterfield, MO 63017 Full Service B&M $37,744
    Midwest BankCentre 5501 Dr. Martin Luther King Drive Saint Louis, MO 63112 Full Service B&M $7,863
    Midwest BankCentre 5515 South Grand Avenue Saint Louis, MO 63111 Full Service B&M $89,123
    Midwest BankCentre 5575 Telegraph Road Saint Louis, MO 63129 Full Service B&M $157,951
    Midwest BankCentre 6810 Page Avenue Saint Louis, MO 63133 Full Service B&M $26,737
    Midwest BankCentre 6969 South Lindbergh Saint Louis, MO 63125 Full Service B&M $67,689
    Midwest BankCentre 700 James S Mcdonnell Boulevard Hazelwood, MO 63042 Full Service B&M $18,288
    Midwest BankCentre 8020 Forsyth Clayton, MO 63105 Full Service B&M $72,819

    For 2019, Midwest Bankcentre had 19 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $73,534
    Net interest income $53,249
    Total noninterest income $9,135
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,360
    Trading account gains and fees $0
    Additional Noninterest Income $6,775
    Pre-tax net operating income $13,361
    Securities gains (or losses, -) $550
    Income before extraordinary items $11,798
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,798
    Minority interest net income $0
    Net income $11,798
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,330

    Midwest Bankcentre's gross interest income from loans was $73,534,000.
    Midwest Bankcentre's net interest income from loans was $53,249,000.
    Midwest Bankcentre's fee based income from loans was $2,360,000.
    Midwest Bankcentre's net income from loans was $11,798,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $20,285
    Provision for credit losses $500
    Total noninterest expense $48,523
    Salaries and employee benefits $29,386
    Premises and equipment expense $5,632
    Additional noninterest expense $13,505
    Applicable income taxes $2,113
    Net charge-offs $298
    Cash dividends $6,500

    Midwest Bankcentre's interest expense for loans was $20,285,000.
    Midwest Bankcentre's payroll and benefits expense were $29,386,000.
    Midwest Bankcentre's property, plant and equipment expenses $5,632,000.

    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 1.0%
    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 $1,577,535
    Deposits held in domestic offices $1,577,535
    Deposits by Individuals, partnerships, and corporations $1,431,596
    Deposits by U.S. Government $9,695
    Deposits by States and political subdivisions in the U.S. $104,663
    Deposits by Commercial banks and other depository institutions in U.S. $31,581
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $165,026
    Demand deposits $82,916
    Nontransaction accounts $1,412,509
    Money market deposit accounts (MMDAs) $695,640
    Other savings deposits (excluding MMDAs) $239,572
    Total time deposits $477,297
    Total time and savings deposits $1,494,619
    Noninterest-bearing deposits $82,124
    Interest-bearing deposits $1,495,411
    Retail deposits $1,457,956
    IRAs and Keogh plan accounts $53,783
    Brokered deposits $10,069
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,050,530
    Cash & Balances due from depository institutions $37,392
    Interest-bearing balances $21,064
    Total securities $346,409
    Federal funds sold & reverse repurchase $9
    Net loans and leases $1,513,333
    Loan and leases loss allowance $15,537
    Trading account assets $0
    Bank premises and fixed assets $23,134
    Other real estate owned $1,010
    Goodwill and other intangibles $19,316
    All other assets $109,927

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,050,530
    Total Liabilities $1,844,522
    Total deposits $1,577,535
    Interest-bearing deposits $1,495,411
    Deposits held in domestic offices $1,577,535
    % insured (estimated) $95
    Federal funds purchased and repurchase agreements $80,677
    Trading liabilities $0
    Other borrowed funds $170,000
    Subordinated debt $0
    All other liabilities $16,310

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,513,333
    Loan and leases loss allowance $15,537
    Total loans and leases (domestic) $1,528,870
    All real estate loans $1,160,567
    Real estate loans in domestic offices $1,160,567
    Construction and development loans $122,247
    Residential 1-4 family construction $62,492
    Other construction, all land development and other land $59,755
    Loans secured by nonfarm nonresidential properties $556,862
    Nonfarm nonresidential secured by owner-occupied properties $207,483
    Commercial real estate & other non-farm, non-residential $349,379
    Multifamily residential real estate $89,730
    1-4 family residential loans $391,728
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $303,092
    To non-U.S. addressees $0
    Loans to individuals $52,982
    Credit card loans $595
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $52,387
    All other loans & leases $12,229
    Loans to foreign governments and official institutions $0
    Other loans $370
    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 $137
    Non 1-4 family restructured loans & leases $137
    Total loans and leases (foreign) $0

    Midwest BankCentre had $1,513,333,000 of loans outstanding in 2019. $1,160,567,000 of loans were in real estate loans. $122,247,000 of loans were in development loans. $89,730,000 of loans were in multifamily mortgage loans. $391,728,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $595,000 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 420 $97,181 $231,383
    Nonfarm, nonresidential loans - <$100k 75 $2,825 $37,667
    Nonfarm, nonresidential loans - $100-250k 124 $13,244 $106,806
    Nonfarm, nonresidential loans - $250k-1MM 221 $81,112 $367,023
    Commercial & Industrial, US addressed loans - <$1MM 635 $80,043 $126,052
    Commercial & Industrial, US addressed loans - <$100k 308 $11,144 $36,182
    Commercial & Industrial, US addressed loans - $100-250k 155 $17,776 $114,684
    Commercial & Industrial, US addressed loans - $250k-1MM 172 $51,123 $297,227