Midamerica National Bank Mortgage Rates, Fees & Info

Canton, IL

LEI: 549300Z4ZK628DTL4L52

Tax ID: 37-0435170

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Midamerica National Bank is a smaller bank specializing in Home Purchase loans. Midamerica National Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top (well, only) market is Peoria.

    Midamerica National Bank 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.

    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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    Originations

    262

    Origination Dollar Volume (All Markets)

    $21,400,000

    Employee count

    115

    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
    PEORIA, IL (FHA|USDA|VA) 108 $10,980,000 $101,667 $0 0.00%
    Outside of Metro Areas 154 $10,420,000 $67,662 $0 0.00%
    Midamerica National Bank's top markets include and Peoria among others.

    Their top states include:
  • Illinois (FHA|USDA|VA)
  • Michigan (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • New York (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 260 $21,230,000 $81,654 $0 0.00%
    USDA 2 $170,000 $85,000 $0 0.00%

    For 2019, Midamerica National Bank's most frequently originated type of loan was Conventional, with 260 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 194 $13,820,000 $71,237 $0 0.00%
    Cash Out Refi 36 $3,860,000 $107,222 $0 0.00%
    Refi 28 $3,580,000 $127,857 $0 0.00%
    Home Improvement 3 $125,000 $41,667 $0 0.00%
    Other 1 $15,000 $15,000 $0 0.00%

    For 2019, Midamerica National Bank's most frequently cited loan purpose was Home Purchase, with 194 originations. The 2nd most popular reason was Cash Out Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 262 $21,400,000 $81,679 $0 0.00%

    For 2019, Midamerica National Bank's most frequently cited loan duration was Other, with 262 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 199 $10,115,000 $50,829 $0 0.00%
    $100k-200k 49 $6,755,000 $137,857 $0 0.00%
    $200k-400k 11 $3,015,000 $274,091 $0 0.00%
    $400k-600k 3 $1,515,000 $505,000 $0 0.00%

    2019 saw Midamerica National Bank place emphasis on $100,000 or less loans with 199 originations, totaling $10,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 99 $5,535,000 $55,909 $0 0.00%
    $50k-75k 60 $3,820,000 $63,667 $0 0.00%
    $100k-150k 38 $4,850,000 $127,632 $0 0.00%
    $75k-100k 33 $3,635,000 $110,152 $0 0.00%
    $150k-250k 13 $1,745,000 $134,231 $0 0.00%
    $250k+ 6 $710,000 $118,333 $0 0.00%

    Midamerica National Bank lent most frequently to those with incomes in the $50k or less range, with 99 originations. The second most popular income band? $50k-75k, with 60 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 262 $21,400,000 $81,679 $0 0.00%

    Midamerica National Bank lent most frequently to those with DTI ratios of Exempt%, with 262 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 240 $19,360,000 $80,667 $0 0.00%
    Not provided 9 $905,000 $100,556 $0 0.00%
    Not applicable 8 $530,000 $66,250 $0 0.00%
    Black 4 $470,000 $117,500 $0 0.00%
    Native Hawaiian or Islander 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.38%

    Midamerica National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    53.82%

    Midamerica National Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 262 $21,400,000 $81,679

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $340,000 $170,000
    Single Family (1-4 Units):Manufactured 104 $5,410,000 $52,019
    Single Family (1-4 Units):Site-Built 156 $15,650,000 $100,321

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    MidAmerica Mortgage Inc Conventional home mortgage Trouble during payment process 6 28.6%
    MidAmerica Mortgage Inc FHA mortgage Struggling to pay mortgage 3 14.3%
    MidAmerica Mortgage Inc FHA mortgage Trouble during payment process 3 14.3%
    MidAmerica Mortgage Inc Other type of mortgage Trouble during payment process 2 9.5%
    MidAmerica Mortgage Inc VA mortgage Struggling to pay mortgage 1 4.8%
    MidAmerica Mortgage Inc VA mortgage Trouble during payment process 6 28.6%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    MidAmerica National Bank 130 North Side Square Macomb, IL 61455 Full Service B&M $118,130
    MidAmerica National Bank 300 East Main Street Cuba, IL 61427 Full Service B&M $15,194
    MidAmerica National Bank 700 Second Street Henry, IL 61537 Full Service B&M $75,123
    MidAmerica National Bank 804 West Jackson Street Macomb, IL 61455 Limited, Drive-thru $0
    MidAmerica National Bank 100 West Elm Street Canton, IL 61520 Full Service B&M $137,721
    MidAmerica National Bank 120 East Washington Street Lewistown, IL 61542 Full Service B&M $16,504

    For 2019, Midamerica National Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,186
    Net interest income $15,697
    Total noninterest income $3,099
    Gross Fiduciary activities income $1,425
    Service charges on deposit accounts $352
    Trading account gains and fees $0
    Additional Noninterest Income $1,322
    Pre-tax net operating income $6,580
    Securities gains (or losses, -) $49
    Income before extraordinary items $5,158
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,158
    Minority interest net income $0
    Net income $5,158
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,119

    Midamerica National Bank's gross interest income from loans was $17,186,000.
    Midamerica National Bank's net interest income from loans was $15,697,000.
    Midamerica National Bank's fee based income from loans was $352,000.
    Midamerica National Bank's net income from loans was $5,158,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,489
    Provision for credit losses $442
    Total noninterest expense $11,774
    Salaries and employee benefits $7,675
    Premises and equipment expense $986
    Additional noninterest expense $3,113
    Applicable income taxes $1,471
    Net charge-offs $351
    Cash dividends $2,036

    Midamerica National Bank's interest expense for loans was $1,489,000.
    Midamerica National Bank's payroll and benefits expense were $7,675,000.
    Midamerica National Bank's property, plant and equipment expenses $986,000.

    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 1.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $361,900
    Deposits held in domestic offices $361,900
    Deposits by Individuals, partnerships, and corporations $305,717
    Deposits by U.S. Government $34
    Deposits by States and political subdivisions in the U.S. $56,093
    Deposits by Commercial banks and other depository institutions in U.S. $56
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $200,000
    Demand deposits $87,711
    Nontransaction accounts $161,900
    Money market deposit accounts (MMDAs) $38,053
    Other savings deposits (excluding MMDAs) $43,775
    Total time deposits $80,072
    Total time and savings deposits $274,189
    Noninterest-bearing deposits $87,711
    Interest-bearing deposits $274,189
    Retail deposits $352,451
    IRAs and Keogh plan accounts $15,824
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $423,476
    Cash & Balances due from depository institutions $13,887
    Interest-bearing balances $11,985
    Total securities $117,986
    Federal funds sold & reverse repurchase $0
    Net loans and leases $275,383
    Loan and leases loss allowance $3,555
    Trading account assets $0
    Bank premises and fixed assets $4,168
    Other real estate owned $140
    Goodwill and other intangibles $7,658
    All other assets $4,254

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $423,476
    Total Liabilities $367,471
    Total deposits $361,900
    Interest-bearing deposits $274,189
    Deposits held in domestic offices $361,900
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $2,586
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,985

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $275,383
    Loan and leases loss allowance $3,555
    Total loans and leases (domestic) $278,938
    All real estate loans $188,915
    Real estate loans in domestic offices $188,915
    Construction and development loans $9,799
    Residential 1-4 family construction $1,803
    Other construction, all land development and other land $7,996
    Loans secured by nonfarm nonresidential properties $77,486
    Nonfarm nonresidential secured by owner-occupied properties $43,898
    Commercial real estate & other non-farm, non-residential $33,588
    Multifamily residential real estate $6,379
    1-4 family residential loans $52,528
    Farmland loans $42,723
    Loans held in foreign offices $0
    Farm loans $30,551
    Commercial and industrial loans $26,901
    To non-U.S. addressees $0
    Loans to individuals $30,334
    Credit card loans $0
    Related Plans $13
    Consumer Auto Loans $16,104
    Other loans to individuals $14,217
    All other loans & leases $2,237
    Loans to foreign governments and official institutions $0
    Other loans $56
    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 $2,471
    Non 1-4 family restructured loans & leases $884
    Total loans and leases (foreign) $0

    MidAmerica National Bank had $275,383,000 of loans outstanding in 2019. $188,915,000 of loans were in real estate loans. $9,799,000 of loans were in development loans. $6,379,000 of loans were in multifamily mortgage loans. $52,528,000 of loans were in 1-4 family mortgage loans. $30,551,000 of loans were in farm loans. $0 of loans were in credit card loans. $16,104,000 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 204 $34,213 $167,711
    Nonfarm, nonresidential loans - <$100k 81 $3,529 $43,568
    Nonfarm, nonresidential loans - $100-250k 69 $8,611 $124,797
    Nonfarm, nonresidential loans - $250k-1MM 54 $22,073 $408,759
    Commercial & Industrial, US addressed loans - <$1MM 302 $13,832 $45,801
    Commercial & Industrial, US addressed loans - <$100k 254 $4,796 $18,882
    Commercial & Industrial, US addressed loans - $100-250k 26 $2,517 $96,808
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $6,519 $296,318
    Farmland loans - <$1MM 138 $18,239 $132,167
    Farmland loans - <$100k 50 $2,155 $43,100
    Farmland loans - $100-250k 51 $6,117 $119,941
    Farmland loans - $250k-1MM 37 $9,967 $269,378
    Agriculture operations loans - <$1MM 273 $15,530 $56,886
    Agriculture operations loans - <$100k 200 $4,761 $23,805
    Agriculture operations loans - $100-250k 47 $4,972 $105,787
    Agriculture operations loans - $250k-1MM 26 $5,797 $222,962