First State Bank Mortgage Rates, Fees & Info

Gothenburg, NE

LEI: 549300OYN1WD4APNOU82

Tax ID: 47-0162740

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

Review & Overview

First State Bank is a smaller bank specializing in Home Purchase loans. First State Bank has a high proportion of conventional loans. First State Bank has an average proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Omaha, North Platte, Lexington, Kansas City, and Dallas among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

First State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. First State Bank 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.

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.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.61%	11/17/24
30 Year Conventional Refi	6.56%	11/17/24
30 Year Cash-out Refi	6.63%	11/17/24
30 Year FHA Purchase	7.13%	11/17/24
30 Year VA Purchase	6.15%	11/17/24
30 Year USDA Purchase	6.69%	11/17/24
15 Year Conventional Purchase	5.68%	11/17/24
15 Year Conventional Refi	5.99%	11/17/24
15 Year Cash-out Refi	5.99%	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.

First State Bank Mortgage Calculator

Purchase Price:

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% Deposit:

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

This is not an official calculator from First State Bank. 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

255

Origination Dollar Volume (All Markets)

$41,535,000

Employee count

Awards

First State Bank 30 Year Conventional Loans silver

First State Bank 30 Year Conventional Loans gold

Show all (3) 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
OMAHA-COUNCIL BLUFFS, NE-IA (FHA\|USDA\|VA)	110	$22,130,000	$201,182	$2,594	4.84%
North Platte, NE (FHA\|USDA\|VA)	62	$8,410,000	$135,645	$3,585	4.32%
Lexington, NE (FHA\|USDA\|VA)	29	$2,735,000	$94,310	$1,563	4.89%
KANSAS CITY, MO-KS (FHA\|USDA\|VA)	26	$2,650,000	$101,923	$10,032	6.11%
Dallas-Fort Worth-Arlington, TX (FHA\|USDA\|VA)	3	$1,325,000	$441,667	$0	5.50%
Los Angeles-Long Beach-Anaheim, CA (FHA\|USDA\|VA)	1	$1,205,000	$1,205,000	$0	0.00%
Outside of Metro Areas	11	$875,000	$79,545	$1,834	5.28%
LINCOLN, NE (FHA\|USDA\|VA)	4	$680,000	$170,000	$1,306	4.13%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	3	$615,000	$205,000	$4,615	4.00%
PRESCOTT VALLEY-PRESCOTT, AZ (FHA\|USDA\|VA)	2	$330,000	$165,000	$1,904	4.13%
Kearney, NE (FHA\|USDA\|VA)	2	$250,000	$125,000	$0	4.45%
Beatrice, NE (FHA\|USDA\|VA)	1	$215,000	$215,000	$0	0.00%
Warrensburg, MO (FHA\|USDA\|VA)	1	$115,000	$115,000	$0	6.25%

First State Bank's top markets include Omaha, North Platte, Lexington, Kansas City, and Dallas among others.

Their top states include:

Nebraska (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Texas (FHA|USDA|VA)

California (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against First State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Home Federal Savings & Loan Association of Grand Island
Similarity Rank: 30

LIBERTY FIRST
Similarity Rank: 153

Adams Bank & Trust
Similarity Rank: 154

CHARTER WEST BANK
Similarity Rank: 246

Washington County Bank
Similarity Rank: 255

Central National Bank
Similarity Rank: 290

MUTUAL FIRST
Similarity Rank: 297

Lincoln FSB of Nebraska
Similarity Rank: 304

First State Bank
Similarity Rank: 312

CORNHUSKER BANK
Similarity Rank: 392

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	128	$22,540,000	$176,094	$0	0.00%
Conventional	83	$11,535,000	$138,976	$1,906	5.25%
VA	12	$2,840,000	$236,667	$0	0.00%
FHA	10	$1,500,000	$150,000	$0	0.00%
VA	8	$1,500,000	$187,500	$5,809	3.97%
USDA	7	$605,000	$86,429	$0	0.00%
FHA	6	$960,000	$160,000	$4,594	4.23%
USDA	1	$55,000	$55,000	$2,479	4.25%

For 2018, First State Bank's most frequently originated type of loan was Conventional, with 128 originations. Their 2nd most popular type was Conventional, with 83 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	190	$32,390,000	$170,474	$3,428	5.14%
Cash Out Refi	31	$4,075,000	$131,452	$1,785	4.49%
Refi	22	$4,400,000	$200,000	$1,132	4.70%
Home Improvement	6	$170,000	$28,333	$0	6.00%
Other	6	$500,000	$83,333	$898	6.13%

For 2018, First State Bank's most frequently cited loan purpose was Home Purchase, with 190 originations. The 2nd most popular reason was Cash Out Refi, with 31 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	198	$31,600,000	$159,596	$915	5.98%
30 Year	39	$7,455,000	$191,154	$3,338	4.23%
15 Year	12	$1,400,000	$116,667	$1,604	4.51%
20 Year	4	$410,000	$102,500	$0	5.34%
1 Year	1	$605,000	$605,000	$0	5.50%
5 Year	1	$65,000	$65,000	$64	5.50%

For 2018, First State Bank's most frequently cited loan duration was Other, with 198 originations. The 2nd most popular length was 30 Year, with 39 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	33	$5,195,000	$157,424
$1k-2k	18	$3,700,000	$205,556

First State Bank's average total fees were $3,338, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 33 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	29	$4,645,000	$160,172
5-6%	25	$3,285,000	$131,400
6-7%	23	$2,105,000	$91,522
3-4%	21	$4,015,000	$191,190

During 2018, First State Bank's average interest rate for loans was 4.23%, while their most frequently originated rate bucket for loans was 4-5%, with 29 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	104	$14,860,000	$142,885	$3,421	4.86%
$100,000 or less	89	$5,175,000	$58,146	$1,438	5.57%
$200k-400k	51	$13,735,000	$269,314	$3,126	4.48%
$400k-600k	6	$2,610,000	$435,000	$2,570	4.19%
$600k-1MM	3	$2,025,000	$675,000	$0	5.50%
$1MM+	2	$3,130,000	$1,565,000	$0	0.00%

2018 saw First State Bank place emphasis on $100k-200k loans with 104 originations, totaling $14,860,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	55	$6,805,000	$123,727	$2,984	4.52%
$50k or less	43	$4,195,000	$97,558	$2,674	4.11%
$75k-100k	39	$6,105,000	$156,538	$3,210	4.43%
$100k-150k	32	$6,720,000	$210,000	$2,724	4.08%
$150k-250k	15	$4,425,000	$295,000	$2,088	4.41%
$250k+	9	$2,415,000	$268,333	$2,281	4.69%

First State Bank lent most frequently to those with incomes in the $50k-75k range, with 55 originations. The second most popular income band? $50k or less, with 43 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	157	$27,485,000	$175,064	$0	0.00%
20-30%	20	$2,870,000	$143,500	$2,549	4.49%
30-36%	19	$2,795,000	$147,105	$2,655	4.49%
<20%	3	$485,000	$161,667	$2,069	4.71%
37%	3	$535,000	$178,333	$2,766	4.17%
44%	3	$555,000	$185,000	$3,849	4.13%
43%	2	$420,000	$210,000	$1,706	4.25%
41%	2	$370,000	$185,000	$3,704	3.75%
36%	1	$95,000	$95,000	$1,375	4.88%
45%	1	$155,000	$155,000	$5,892	3.75%
46%	1	$255,000	$255,000	$10,032	4.13%
48%	1	$235,000	$235,000	$2,165	4.00%
40%	1	$385,000	$385,000	$2,552	4.50%
42%	1	$135,000	$135,000	$2,397	4.38%

First State Bank lent most frequently to those with DTI ratios of Exempt%, with 157 originations. The next most common DTI ratio? 20-30%, with 20 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	180	$27,690,000	$153,833	$2,862	4.41%
Not applicable	61	$10,835,000	$177,623	$0	6.01%
Black	8	$1,810,000	$226,250	$2,397	4.38%
Not provided	3	$645,000	$215,000	$0	0.00%
Asian	1	$315,000	$315,000	$1,716	3.88%
Native Hawaiian or Islander	1	$145,000	$145,000	$4,525	4.00%
American Indian	1	$95,000	$95,000	$1,985	4.75%

Approval Rates

Total approvals of all applications
92.38%

First State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
90.59%

First State Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
356.5	1	$25,000	$25,000
Exempt	157	$27,485,000	$175,064
NA	97	$14,025,000	$144,588

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	1	$25,000	$25,000
Multifamily:Site-Built	6	$3,690,000	$615,000
Single Family (1-4 Units):Manufactured	1	$35,000	$35,000
Single Family (1-4 Units):Site-Built	247	$37,785,000	$152,976

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	3	$475,000	$158,333	$1,175	5.33%
40-60%	13	$2,135,000	$164,231	$1,601	5.13%
60-80%	33	$4,085,000	$123,788	$1,802	5.41%
80-100%	39	$6,175,000	$158,333	$3,046	4.87%
Over 100%	6	$1,040,000	$173,333	$6,382	4.00%
Under 20%	4	$140,000	$35,000	$567	5.48%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Problem with a credit reporting company's investigation into an existing problem	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	7.1%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	3	21.4%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Incorrect information on your report	1	7.1%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	5	35.7%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First State Bank	101 Northwest First Mullen, NE 69152	Full Service B&M	$33,504
First State Bank	11808 W Center Rd Omaha, NE 68144	Full Service B&M	$21,941
First State Bank	234 S Commercial Ave Wallace, NE 69169	Full Service B&M	$18,381
First State Bank	410 Rodeo Road North Platte, NE 69101	Full Service B&M	$34,599
First State Bank	5370 South 72nd Ralston, NE 68127	Full Service B&M	$72,829
First State Bank	605 Tenth Street Gothenburg, NE 69138	Limited, Drive-thru	$0
First State Bank	914 Lake Street Gothenburg, NE 69138	Full Service B&M	$137,836

For 2018, First State Bank had 7 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$23,704
Net interest income	$17,823
Total noninterest income	$2,417
Gross Fiduciary activities income	$6
Service charges on deposit accounts	$765
Trading account gains and fees	$0
Additional Noninterest Income	$1,646
Pre-tax net operating income	$9,074
Securities gains (or losses, -)	$9
Income before extraordinary items	$7,500
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$7,500
Minority interest net income	$0
Net income	$7,500
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$7,492

First State Bank's gross interest income from loans was $23,704,000.
First State Bank's net interest income from loans was $17,823,000.
First State Bank's fee based income from loans was $765,000.
First State Bank's net income from loans was $7,500,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$5,881
Provision for credit losses	$635
Total noninterest expense	$10,531
Salaries and employee benefits	$5,900
Premises and equipment expense	$869
Additional noninterest expense	$3,762
Applicable income taxes	$1,583
Net charge-offs	$172
Cash dividends	$0

First State Bank's interest expense for loans was $5,881,000.
First State Bank's payroll and benefits expense were $5,900,000.
First State Bank's property, plant and equipment expenses $869,000.

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	2.0%
Multifamily residential loans	0.0%
1-4 family residential loans	4.0%
HELOC loans	0.0%
All other family	4.0%
Commercial & industrial loans	6.0%
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	$325,915
Deposits held in domestic offices	$325,915
Deposits by Individuals, partnerships, and corporations	$302,227
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$23,688
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$100,733
Demand deposits	$70,393
Nontransaction accounts	$225,182
Money market deposit accounts (MMDAs)	$88,856
Other savings deposits (excluding MMDAs)	$23,642
Total time deposits	$112,684
Total time and savings deposits	$255,522
Noninterest-bearing deposits	$70,393
Interest-bearing deposits	$255,522
Retail deposits	$284,901
IRAs and Keogh plan accounts	$10,898
Brokered deposits	$59,613
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$505,901
Cash & Balances due from depository institutions	$24,217
Interest-bearing balances	$12,870
Total securities	$89,746
Federal funds sold & reverse repurchase	$0
Net loans and leases	$361,662
Loan and leases loss allowance	$5,157
Trading account assets	$70
Bank premises and fixed assets	$7,691
Other real estate owned	$169
Goodwill and other intangibles	$6,650
All other assets	$15,696

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$505,901
Total Liabilities	$443,993
Total deposits	$325,915
Interest-bearing deposits	$255,522
Deposits held in domestic offices	$325,915
% insured (estimated)	$74
Federal funds purchased and repurchase agreements	$800
Trading liabilities	$70
Other borrowed funds	$113,540
Subordinated debt	$0
All other liabilities	$3,668

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$361,662
Loan and leases loss allowance	$5,157
Total loans and leases (domestic)	$366,819
All real estate loans	$231,982
Real estate loans in domestic offices	$231,982
Construction and development loans	$17,782
Residential 1-4 family construction	$9,936
Other construction, all land development and other land	$7,846
Loans secured by nonfarm nonresidential properties	$115,496
Nonfarm nonresidential secured by owner-occupied properties	$89,524
Commercial real estate & other non-farm, non-residential	$25,972
Multifamily residential real estate	$7,935
1-4 family residential loans	$10,814
Farmland loans	$79,955
Loans held in foreign offices	$0
Farm loans	$95,122
Commercial and industrial loans	$30,548
To non-U.S. addressees	$0
Loans to individuals	$4,665
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$3,521
Other loans to individuals	$1,144
All other loans & leases	$4,501
Loans to foreign governments and official institutions	$0
Other loans	$663
Loans to depository institutions and acceptances of other banks	$2,372
Loans not secured by real estate	$0
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$3,240
Non 1-4 family restructured loans & leases	$3,240
Total loans and leases (foreign)	$0

First State Bank had $361,662,000 of loans outstanding in 2018. $231,982,000 of loans were in real estate loans. $17,782,000 of loans were in development loans. $7,935,000 of loans were in multifamily mortgage loans. $10,814,000 of loans were in 1-4 family mortgage loans. $95,122,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,521,000 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	502	$63,627	$126,747
Nonfarm, nonresidential loans - <$100k	258	$12,504	$48,465
Nonfarm, nonresidential loans - $100-250k	157	$18,626	$118,637
Nonfarm, nonresidential loans - $250k-1MM	87	$32,497	$373,529
Commercial & Industrial, US addressed loans - <$1MM	468	$27,814	$59,432
Commercial & Industrial, US addressed loans - <$100k	358	$7,640	$21,341
Commercial & Industrial, US addressed loans - $100-250k	62	$6,682	$107,774
Commercial & Industrial, US addressed loans - $250k-1MM	48	$13,492	$281,083
Farmland loans - <$1MM	140	$15,308	$109,343
Farmland loans - <$100k	37	$1,216	$32,865
Farmland loans - $100-250k	55	$5,136	$93,382
Farmland loans - $250k-1MM	48	$8,956	$186,583
Agriculture operations loans - <$1MM	482	$33,742	$70,004
Agriculture operations loans - <$100k	329	$9,536	$28,985
Agriculture operations loans - $100-250k	97	$10,600	$109,278
Agriculture operations loans - $250k-1MM	56	$13,606	$242,964