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, Refi, and Cash Out Refi loans. Midamerica National Bank has a high proportion of conventional 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

    357

    Origination Dollar Volume (All Markets)

    $49,325,000

    Employee count

    111

    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) 202 $25,390,000 $125,693 $0 0.00%
    Outside of Metro Areas 155 $23,935,000 $154,419 $0 0.00%
    Midamerica National Bank's top markets include and Peoria among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 357 $49,325,000 $138,165 $0 0.00%

    For 2020, Midamerica National Bank's most frequently originated type of loan was Conventional, with 357 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 175 $16,945,000 $96,829 $0 0.00%
    Refi 111 $17,265,000 $155,541 $0 0.00%
    Cash Out Refi 67 $11,265,000 $168,134 $0 0.00%
    Home Improvement 4 $3,850,000 $962,500 $0 0.00%

    For 2020, Midamerica National Bank's most frequently cited loan purpose was Home Purchase, with 175 originations. The 2nd most popular reason was Refi, with 111 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 357 $49,325,000 $138,165 $0 0.00%

    For 2020, Midamerica National Bank's most frequently cited loan duration was Other, with 357 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 187 $11,165,000 $59,706 $0 0.00%
    $100k-200k 109 $15,035,000 $137,936 $0 0.00%
    $200k-400k 51 $13,195,000 $258,725 $0 0.00%
    $400k-600k 4 $2,010,000 $502,500 $0 0.00%
    $600k-1MM 4 $2,900,000 $725,000 $0 0.00%
    $1MM+ 2 $5,020,000 $2,510,000 $0 0.00%

    2020 saw Midamerica National Bank place emphasis on $100,000 or less loans with 187 originations, totaling $11,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 79 $5,585,000 $70,696 $0 0.00%
    $50k-75k 76 $7,660,000 $100,789 $0 0.00%
    $100k-150k 71 $10,415,000 $146,690 $0 0.00%
    $75k-100k 47 $5,395,000 $114,787 $0 0.00%
    $150k-250k 38 $6,060,000 $159,474 $0 0.00%
    $250k+ 17 $6,815,000 $400,882 $0 0.00%

    Midamerica National Bank lent most frequently to those with incomes in the $50k or less range, with 79 originations. The second most popular income band? $50k-75k, with 76 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 357 $49,325,000 $138,165 $0 0.00%

    Midamerica National Bank lent most frequently to those with DTI ratios of Exempt%, with 357 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 330 $41,640,000 $126,182 $0 0.00%
    Not applicable 15 $5,775,000 $385,000 $0 0.00%
    Not provided 10 $1,730,000 $173,000 $0 0.00%
    American Indian 1 $95,000 $95,000 $0 0.00%
    Asian 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.06%

    Midamerica National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.47%

    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 357 $49,325,000 $138,165

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $4,405,000 $881,000
    Single Family (1-4 Units):Manufactured 38 $2,030,000 $53,421
    Single Family (1-4 Units):Site-Built 314 $42,890,000 $136,592

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    MidAmerica Mortgage Inc Conventional home mortgage Struggling to pay mortgage 3 5.4%
    MidAmerica Mortgage Inc Conventional home mortgage Trouble during payment process 8 14.3%
    MidAmerica Mortgage Inc FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 1.8%
    MidAmerica Mortgage Inc FHA mortgage Closing on a mortgage 1 1.8%
    MidAmerica Mortgage Inc FHA mortgage Incorrect information on your report 1 1.8%
    MidAmerica Mortgage Inc FHA mortgage Problem with a credit reporting company's investigation into an existing problem 1 1.8%
    MidAmerica Mortgage Inc FHA mortgage Struggling to pay mortgage 1 1.8%
    MidAmerica Mortgage Inc FHA mortgage Trouble during payment process 9 16.1%
    MidAmerica Mortgage Inc FHA mortgage Unable to get your credit report or credit score 1 1.8%
    MidAmerica Mortgage Inc Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 3.6%
    MidAmerica Mortgage Inc Other type of mortgage Closing on a mortgage 1 1.8%
    MidAmerica Mortgage Inc Other type of mortgage Problem with a credit reporting company's investigation into an existing problem 1 1.8%
    MidAmerica Mortgage Inc Other type of mortgage Struggling to pay mortgage 1 1.8%
    MidAmerica Mortgage Inc Other type of mortgage Trouble during payment process 6 10.7%
    MidAmerica Mortgage Inc VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 1.8%
    MidAmerica Mortgage Inc VA mortgage Closing on a mortgage 1 1.8%
    MidAmerica Mortgage Inc VA mortgage Struggling to pay mortgage 6 10.7%
    MidAmerica Mortgage Inc VA mortgage Trouble during payment process 11 19.6%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Midamerica National Bank 300 East Main Street Cuba, IL 61427 Full Service B&M $19,780
    Midamerica National Bank 700 Second Street Henry, IL 61537 Full Service B&M $80,995
    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 $154,212
    Midamerica National Bank 120 East Washington Street Lewistown, IL 61542 Full Service B&M $19,384
    Midamerica National Bank 130 North Side Square Macomb, IL 61455 Full Service B&M $140,785

    For 2020, Midamerica National Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,458
    Net interest income $16,185
    Total noninterest income $3,171
    Gross Fiduciary activities income $1,350
    Service charges on deposit accounts $255
    Trading account gains and fees $0
    Additional Noninterest Income $1,566
    Pre-tax net operating income $5,426
    Securities gains (or losses, -) $116
    Income before extraordinary items $4,391
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,391
    Minority interest net income $0
    Net income $4,391
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,299

    Midamerica National Bank's gross interest income from loans was $17,458,000.
    Midamerica National Bank's net interest income from loans was $16,185,000.
    Midamerica National Bank's fee based income from loans was $255,000.
    Midamerica National Bank's net income from loans was $4,391,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,273
    Provision for credit losses $1,252
    Total noninterest expense $12,678
    Salaries and employee benefits $8,484
    Premises and equipment expense $1,164
    Additional noninterest expense $3,030
    Applicable income taxes $1,151
    Net charge-offs $509
    Cash dividends $3,018

    Midamerica National Bank's interest expense for loans was $1,273,000.
    Midamerica National Bank's payroll and benefits expense were $8,484,000.
    Midamerica National Bank's property, plant and equipment expenses $1,164,000.

    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 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 $408,021
    Deposits held in domestic offices $408,021
    Deposits by Individuals, partnerships, and corporations $345,324
    Deposits by U.S. Government $9
    Deposits by States and political subdivisions in the U.S. $62,613
    Deposits by Commercial banks and other depository institutions in U.S. $75
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $241,201
    Demand deposits $105,242
    Nontransaction accounts $166,820
    Money market deposit accounts (MMDAs) $43,854
    Other savings deposits (excluding MMDAs) $48,243
    Total time deposits $74,723
    Total time and savings deposits $302,779
    Noninterest-bearing deposits $105,242
    Interest-bearing deposits $302,779
    Retail deposits $398,185
    IRAs and Keogh plan accounts $15,775
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $480,385
    Cash & Balances due from depository institutions $18,211
    Interest-bearing balances $16,664
    Total securities $120,489
    Federal funds sold & reverse repurchase $0
    Net loans and leases $316,060
    Loan and leases loss allowance $4,297
    Trading account assets $0
    Bank premises and fixed assets $13,166
    Other real estate owned $90
    Goodwill and other intangibles $7,610
    All other assets $4,759

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $480,385
    Total Liabilities $420,947
    Total deposits $408,021
    Interest-bearing deposits $302,779
    Deposits held in domestic offices $408,021
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $5,110
    Trading liabilities $0
    Other borrowed funds $4,000
    Subordinated debt $0
    All other liabilities $3,816

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $316,060
    Loan and leases loss allowance $4,297
    Total loans and leases (domestic) $320,357
    All real estate loans $221,640
    Real estate loans in domestic offices $221,640
    Construction and development loans $24,794
    Residential 1-4 family construction $2,262
    Other construction, all land development and other land $22,532
    Loans secured by nonfarm nonresidential properties $94,517
    Nonfarm nonresidential secured by owner-occupied properties $45,495
    Commercial real estate & other non-farm, non-residential $49,022
    Multifamily residential real estate $5,886
    1-4 family residential loans $48,604
    Farmland loans $47,839
    Loans held in foreign offices $0
    Farm loans $29,136
    Commercial and industrial loans $35,405
    To non-U.S. addressees $0
    Loans to individuals $32,516
    Credit card loans $0
    Related Plans $13
    Consumer Auto Loans $17,588
    Other loans to individuals $14,915
    All other loans & leases $1,660
    Loans to foreign governments and official institutions $0
    Other loans $96
    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 $3,709
    Non 1-4 family restructured loans & leases $1,745
    Total loans and leases (foreign) $0

    MidAmerica National Bank had $316,060,000 of loans outstanding in 2020. $221,640,000 of loans were in real estate loans. $24,794,000 of loans were in development loans. $5,886,000 of loans were in multifamily mortgage loans. $48,604,000 of loans were in 1-4 family mortgage loans. $29,136,000 of loans were in farm loans. $0 of loans were in credit card loans. $17,588,000 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 199 $34,610 $173,920
    Nonfarm, nonresidential loans - <$100k 80 $3,442 $43,025
    Nonfarm, nonresidential loans - $100-250k 69 $8,936 $129,507
    Nonfarm, nonresidential loans - $250k-1MM 50 $22,232 $444,640
    Commercial & Industrial, US addressed loans - <$1MM 501 $20,985 $41,886
    Commercial & Industrial, US addressed loans - <$100k 436 $9,152 $20,991
    Commercial & Industrial, US addressed loans - $100-250k 37 $3,356 $90,703
    Commercial & Industrial, US addressed loans - $250k-1MM 28 $8,477 $302,750
    Farmland loans - <$1MM 140 $20,183 $144,164
    Farmland loans - <$100k 51 $2,291 $44,922
    Farmland loans - $100-250k 44 $5,004 $113,727
    Farmland loans - $250k-1MM 45 $12,888 $286,400
    Agriculture operations loans - <$1MM 286 $15,504 $54,210
    Agriculture operations loans - <$100k 214 $4,486 $20,963
    Agriculture operations loans - $100-250k 44 $5,037 $114,477
    Agriculture operations loans - $250k-1MM 28 $5,981 $213,607