Midwest Bankcentre Mortgage Rates, Fees & Info
Saint Louis, MOLEI: 549300OR2C7AGDZFTS24
Tax ID: 43-0368910
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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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.55% | 11/17/24 |
30 Year Conventional Refi | 6.23% | 11/17/24 |
30 Year Cash-out Refi | 6.21% | 11/17/24 |
30 Year FHA Purchase | 7.02% | 11/17/24 |
30 Year FHA Refi | 6.63% | 11/17/24 |
30 Year VA Purchase | 6.18% | 11/17/24 |
15 Year Conventional Purchase | 5.94% | 11/17/24 |
15 Year Conventional Refi | 5.78% | 11/17/24 |
15 Year Cash-out Refi | 5.78% | 11/17/24 |
15 Year FHA Refi | 5.68% | 11/17/24 |
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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
626Origination Dollar Volume (All Markets)
$178,480,000Employee count
253 Show all (6) awardsMidwest BankCentre - 2019
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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% |
Similar Lenders
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
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
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
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
2019 saw Midwest Bankcentre place emphasis on $200k-400k loans with 199 originations, totaling $57,145,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications86.91%
Midwest Bankcentre has an average approval rate.
Pick Rate
Approvals leading to origination89.46%
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
LTV Distribution
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 |