Midamerica National Bank Mortgage Rates, Fees & Info

Canton, IL

LEI: 549300Z4ZK628DTL4L52

Tax ID: 37-0435170

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

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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. 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

    291

    Origination Dollar Volume (All Markets)

    $48,275,000

    Employee count

    118

    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
    Outside of Metro Areas 126 $27,250,000 $216,270 $0 0.00%
    PEORIA, IL (FHA|USDA|VA) 165 $21,025,000 $127,424 $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 Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 291 $48,275,000 $165,893 $0 0.00%

    For 2021, Midamerica National Bank's most frequently originated type of loan was Conventional, with 291 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 168 $31,070,000 $184,940 $0 0.00%
    Cash Out Refi 61 $8,425,000 $138,115 $0 0.00%
    Refi 57 $8,535,000 $149,737 $0 0.00%
    Home Improvement 5 $245,000 $49,000 $0 0.00%

    For 2021, Midamerica National Bank's most frequently cited loan purpose was Home Purchase, with 168 originations. The 2nd most popular reason was Cash Out Refi, with 61 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 291 $48,275,000 $165,893 $0 0.00%

    For 2021, Midamerica National Bank's most frequently cited loan duration was Other, with 291 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 162 $9,850,000 $60,802 $0 0.00%
    $100k-200k 90 $12,750,000 $141,667 $0 0.00%
    $200k-400k 22 $6,170,000 $280,455 $0 0.00%
    $400k-600k 8 $3,880,000 $485,000 $0 0.00%
    $600k-1MM 6 $5,150,000 $858,333 $0 0.00%
    $1MM+ 3 $10,475,000 $3,491,667 $0 0.00%

    2021 saw Midamerica National Bank place emphasis on $100,000 or less loans with 162 originations, totaling $9,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 70 $6,830,000 $97,571 $0 0.00%
    $50k or less 68 $4,680,000 $68,824 $0 0.00%
    $100k-150k 45 $7,175,000 $159,444 $0 0.00%
    $75k-100k 41 $3,995,000 $97,439 $0 0.00%
    $150k-250k 21 $4,045,000 $192,619 $0 0.00%
    $250k+ 15 $7,665,000 $511,000 $0 0.00%

    Midamerica National Bank lent most frequently to those with incomes in the $50k-75k range, with 70 originations. The second most popular income band? $50k or less, with 68 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 291 $48,275,000 $165,893 $0 0.00%

    Midamerica National Bank lent most frequently to those with DTI ratios of Exempt%, with 291 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 260 $34,700,000 $133,462 $0 0.00%
    Not applicable 15 $11,675,000 $778,333 $0 0.00%
    Not provided 10 $850,000 $85,000 $0 0.00%
    Asian 2 $590,000 $295,000 $0 0.00%
    Black 2 $180,000 $90,000 $0 0.00%
    American Indian 1 $145,000 $145,000 $0 0.00%
    Native Hawaiian or Islander 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.27%

    Midamerica National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    64.60%

    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 291 $48,275,000 $165,893

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    291 $48,275,000 $165,893

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    MidAmerica Mortgage Inc Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 3.8%
    MidAmerica Mortgage Inc Conventional home mortgage Trouble during payment process 6 11.5%
    MidAmerica Mortgage Inc FHA mortgage Applying for a mortgage or refinancing an existing mortgage 2 3.8%
    MidAmerica Mortgage Inc FHA mortgage Closing on a mortgage 1 1.9%
    MidAmerica Mortgage Inc FHA mortgage Incorrect information on your report 5 9.6%
    MidAmerica Mortgage Inc FHA mortgage Struggling to pay mortgage 6 11.5%
    MidAmerica Mortgage Inc FHA mortgage Trouble during payment process 14 26.9%
    MidAmerica Mortgage Inc Other type of mortgage Struggling to pay mortgage 1 1.9%
    MidAmerica Mortgage Inc Other type of mortgage Trouble during payment process 2 3.8%
    MidAmerica Mortgage Inc VA mortgage Incorrect information on your report 1 1.9%
    MidAmerica Mortgage Inc VA mortgage Struggling to pay mortgage 5 9.6%
    MidAmerica Mortgage Inc VA mortgage Trouble during payment process 7 13.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Midamerica National Bank 100 West Elm Street Canton, IL 61520 Full Service B&M $175,570
    Midamerica National Bank 120 East Washington Street Lewistown, IL 61542 Full Service B&M $26,991
    Midamerica National Bank 130 North Side Square Macomb, IL 61455 Full Service B&M $152,234
    Midamerica National Bank 300 East Main Street Cuba, IL 61427 Full Service B&M $20,791
    Midamerica National Bank 700 Second Street Henry, IL 61537 Full Service B&M $79,739
    Midamerica National Bank 804 West Jackson Street Macomb, IL 61455 Limited, Drive-thru $0

    For 2021, Midamerica National Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,465
    Net interest income $18,893
    Total noninterest income $3,522
    Gross Fiduciary activities income $1,440
    Service charges on deposit accounts $230
    Trading account gains and fees $0
    Additional Noninterest Income $1,852
    Pre-tax net operating income $7,612
    Securities gains (or losses, -) $116
    Income before extraordinary items $5,939
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,939
    Minority interest net income $0
    Net income $5,939
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,847

    Midamerica National Bank's gross interest income from loans was $19,465,000.
    Midamerica National Bank's net interest income from loans was $18,893,000.
    Midamerica National Bank's fee based income from loans was $230,000.
    Midamerica National Bank's net income from loans was $5,939,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $572
    Provision for credit losses $525
    Total noninterest expense $14,278
    Salaries and employee benefits $9,202
    Premises and equipment expense $1,742
    Additional noninterest expense $3,334
    Applicable income taxes $1,789
    Net charge-offs $0
    Cash dividends $1,571

    Midamerica National Bank's interest expense for loans was $572,000.
    Midamerica National Bank's payroll and benefits expense were $9,202,000.
    Midamerica National Bank's property, plant and equipment expenses $1,742,000.

    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 0.0%
    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 $447,067
    Deposits held in domestic offices $447,067
    Deposits by Individuals, partnerships, and corporations $377,257
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $69,747
    Deposits by Commercial banks and other depository institutions in U.S. $63
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $265,190
    Demand deposits $126,795
    Nontransaction accounts $181,877
    Money market deposit accounts (MMDAs) $50,168
    Other savings deposits (excluding MMDAs) $54,983
    Total time deposits $76,726
    Total time and savings deposits $320,272
    Noninterest-bearing deposits $124,752
    Interest-bearing deposits $322,315
    Retail deposits $433,148
    IRAs and Keogh plan accounts $15,311
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $523,226
    Cash & Balances due from depository institutions $8,299
    Interest-bearing balances $5,785
    Total securities $142,366
    Federal funds sold & reverse repurchase $0
    Net loans and leases $346,245
    Loan and leases loss allowance $4,822
    Trading account assets $0
    Bank premises and fixed assets $14,032
    Other real estate owned $143
    Goodwill and other intangibles $7,541
    All other assets $4,600

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $523,226
    Total Liabilities $460,966
    Total deposits $447,067
    Interest-bearing deposits $322,315
    Deposits held in domestic offices $447,067
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $3,587
    Trading liabilities $0
    Other borrowed funds $7,000
    Subordinated debt $0
    All other liabilities $3,312

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $346,245
    Loan and leases loss allowance $4,822
    Total loans and leases (domestic) $351,067
    All real estate loans $258,840
    Real estate loans in domestic offices $258,840
    Construction and development loans $28,880
    Residential 1-4 family construction $969
    Other construction, all land development and other land $27,911
    Loans secured by nonfarm nonresidential properties $106,687
    Nonfarm nonresidential secured by owner-occupied properties $48,236
    Commercial real estate & other non-farm, non-residential $58,451
    Multifamily residential real estate $16,557
    1-4 family residential loans $51,681
    Farmland loans $55,035
    Loans held in foreign offices $0
    Farm loans $29,090
    Commercial and industrial loans $28,995
    To non-U.S. addressees $0
    Loans to individuals $32,528
    Credit card loans $0
    Related Plans $7
    Consumer Auto Loans $16,212
    Other loans to individuals $16,309
    All other loans & leases $1,614
    Loans to foreign governments and official institutions $0
    Other loans $18
    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 $2,951
    Non 1-4 family restructured loans & leases $1,020
    Total loans and leases (foreign) $0

    MidAmerica National Bank had $346,245,000 of loans outstanding in 2021. $258,840,000 of loans were in real estate loans. $28,880,000 of loans were in development loans. $16,557,000 of loans were in multifamily mortgage loans. $51,681,000 of loans were in 1-4 family mortgage loans. $29,090,000 of loans were in farm loans. $0 of loans were in credit card loans. $16,212,000 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 $37,439 $183,525
    Nonfarm, nonresidential loans - <$100k 79 $3,557 $45,025
    Nonfarm, nonresidential loans - $100-250k 69 $8,815 $127,754
    Nonfarm, nonresidential loans - $250k-1MM 56 $25,067 $447,625
    Commercial & Industrial, US addressed loans - <$1MM 270 $14,490 $53,667
    Commercial & Industrial, US addressed loans - <$100k 217 $4,219 $19,442
    Commercial & Industrial, US addressed loans - $100-250k 28 $2,626 $93,786
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $7,645 $305,800
    Farmland loans - <$1MM 136 $20,274 $149,074
    Farmland loans - <$100k 45 $1,907 $42,378
    Farmland loans - $100-250k 45 $5,290 $117,556
    Farmland loans - $250k-1MM 46 $13,077 $284,283
    Agriculture operations loans - <$1MM 254 $13,949 $54,917
    Agriculture operations loans - <$100k 186 $3,888 $20,903
    Agriculture operations loans - $100-250k 38 $3,975 $104,605
    Agriculture operations loans - $250k-1MM 30 $6,086 $202,867