The First National Bank In Sioux Falls Mortgage Rates, Fees & Info
Sioux Falls, SDLEI: Q107R4XFOZ6F6K73C488
Tax ID: 46-0189380
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Mortgage Data
Bank Data
Review & Overview
The First National Bank In Sioux Falls is a smaller bank specializing in Home Purchase and Refi loans. The First National Bank In Sioux Falls has a high proportion of conventional loans. Their top markets by origination volume include: Sioux Falls, Spirit Lake, Sioux City, Brookings, and Spearfish among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)The First National Bank In Sioux Falls has an above 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.24% | 4/14/24 |
| 30 Year Conventional Refi | 6.09% | 4/14/24 |
| 30 Year Cash-out Refi | 6.19% | 4/14/24 |
| 15 Year Conventional Purchase | 5.71% | 4/14/24 |
| 15 Year Conventional Refi | 5.54% | 4/14/24 |
| 15 Year Cash-out Refi | 5.54% | 4/14/24 |
| 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. | ||
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
343Origination Dollar Volume (All Markets)
$77,915,000Employee count
265Top 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 |
|---|---|---|---|---|---|
| SIOUX FALLS, SD (FHA|USDA|VA) | 303 | $69,355,000 | $228,894 | $0 | 0.00% |
| Outside of Metro Areas | 26 | $5,170,000 | $198,846 | $0 | 0.00% |
| Spirit Lake, IA (FHA|USDA|VA) | 4 | $1,320,000 | $330,000 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 0.00% |
| Brookings, SD (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 0.00% |
| Spearfish, SD (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $0 | 0.00% |
| Yankton, SD (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| RAPID CITY, SD (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Watertown, SD (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Pierre, SD (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against The First National Bank in Sioux Falls 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 | 343 | $77,915,000 | $227,157 | $0 | 0.00% |
For 2019, The First National Bank In Sioux Falls's most frequently originated type of loan was Conventional, with 343 originations.
Loan Reason
For 2019, The First National Bank In Sioux Falls's most frequently cited loan purpose was Home Purchase, with 164 originations. The 2nd most popular reason was Refi, with 87 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 343 | $77,915,000 | $227,157 | $0 | 0.00% |
For 2019, The First National Bank In Sioux Falls's most frequently cited loan duration was Other, with 343 originations.
Loan Sizing
2019 saw The First National Bank In Sioux Falls place emphasis on $200k-400k loans with 131 originations, totaling $35,575,000 in origination value.
Applicant Income
The First National Bank In Sioux Falls lent most frequently to those with incomes in the $100k-150k range, with 57 originations. The second most popular income band? $50k-75k, with 56 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 343 | $77,915,000 | $227,157 | $0 | 0.00% |
The First National Bank In Sioux Falls lent most frequently to those with DTI ratios of Exempt%, with 343 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.82%
The First National Bank In Sioux Falls has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination83.09%
The First National Bank In Sioux Falls has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 343 | $77,915,000 | $227,157 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The First National Bank in Sioux Falls | 100 South Phillips Avenue Sioux Falls, SD 57101 | Full Service B&M | $517,083 |
| The First National Bank in Sioux Falls | 101 S Splitrock Blvd Brandon, SD 57005 | Full Service B&M | $76,047 |
| The First National Bank in Sioux Falls | 111 West 17th Street Sioux Falls, SD 57104 | Full Service B&M | $1,393 |
| The First National Bank in Sioux Falls | 120 East Second Avenue Flandreau, SD 57028 | Full Service B&M | $81,317 |
| The First National Bank in Sioux Falls | 1321 West Dow Rummel Street Sioux Falls, SD 57104 | Full Service B&M | $3,614 |
| The First National Bank in Sioux Falls | 1901 East Benson Road Sioux Falls, SD 57104 | Full Service B&M | $54,315 |
| The First National Bank in Sioux Falls | 202 Saint Olaf Baltic, SD 57003 | Full Service B&M | $14,496 |
| The First National Bank in Sioux Falls | 2505 West 41st Street Sioux Falls, SD 57105 | Full Service B&M | $83,397 |
| The First National Bank in Sioux Falls | 2815 S Westlake Dr Sioux Falls, SD 57106 | Full Service B&M | $540 |
| The First National Bank in Sioux Falls | 3008 East Aspen Boulevard Brandon, SD 57005 | Full Service B&M | $2,361 |
| The First National Bank in Sioux Falls | 312 East 4th Street Dell Rapids, SD 57022 | Full Service B&M | $49,831 |
| The First National Bank in Sioux Falls | 3408 W. Ralph Rogers Road Sioux Falls, SD 57108 | Full Service B&M | $2,090 |
| The First National Bank in Sioux Falls | 4000 South Westport Avenue Sioux Falls, SD 57106 | Full Service B&M | $2,316 |
| The First National Bank in Sioux Falls | 401 West 57th Street Sioux Falls, SD 57108 | Full Service B&M | $60,158 |
| The First National Bank in Sioux Falls | 408 North Cliff Avenue Harrisburg, SD 57032 | Full Service B&M | $36,297 |
| The First National Bank in Sioux Falls | 4500 Prince Of Peace Place Sioux Falls, SD 57103 | Full Service B&M | $1,637 |
| The First National Bank in Sioux Falls | 5201 E. Arrowhead Parkway Sioux Falls, SD 57110 | Full Service B&M | $9,653 |
| The First National Bank in Sioux Falls | 5217 South Louise Avenue Sioux Falls, SD 57104 | Full Service B&M | $31,481 |
For 2019, The First National Bank In Sioux Falls had 18 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $51,022 |
| Net interest income | $43,713 |
| Total noninterest income | $19,705 |
| Gross Fiduciary activities income | $8,561 |
| Service charges on deposit accounts | $1,183 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $9,961 |
| Pre-tax net operating income | $19,159 |
| Securities gains (or losses, -) | $366 |
| Income before extraordinary items | $15,007 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $15,007 |
| Minority interest net income | $0 |
| Net income | $15,007 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $14,717 |
The First National Bank In Sioux Falls's gross interest income from loans was $51,022,000.
The First National Bank In Sioux Falls's net interest income from loans was $43,713,000.
The First National Bank In Sioux Falls's fee based income from loans was $1,183,000.
The First National Bank In Sioux Falls's net income from loans was $15,007,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $7,309 |
| Provision for credit losses | $0 |
| Total noninterest expense | $44,259 |
| Salaries and employee benefits | $27,055 |
| Premises and equipment expense | $5,831 |
| Additional noninterest expense | $11,373 |
| Applicable income taxes | $4,518 |
| Net charge-offs | $116 |
| Cash dividends | $6,202 |
The First National Bank In Sioux Falls's interest expense for loans was $7,309,000.
The First National Bank In Sioux Falls's payroll and benefits expense were $27,055,000.
The First National Bank In Sioux Falls's property, plant and equipment expenses $5,831,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 2.0% |
| Real Estate loans | 2.0% |
| 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 | 11.0% |
| Credit card loans | 2.5% |
| Other individual loans | 11.0% |
| Auto loans | 0.0% |
| Other consumer loans | 45.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $1,148,907 |
| Deposits held in domestic offices | $1,148,907 |
| Deposits by Individuals, partnerships, and corporations | $983,337 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $163,378 |
| Deposits by Commercial banks and other depository institutions in U.S. | $2,192 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $230,071 |
| Demand deposits | $71,821 |
| Nontransaction accounts | $918,836 |
| Money market deposit accounts (MMDAs) | $0 |
| Other savings deposits (excluding MMDAs) | $779,163 |
| Total time deposits | $139,674 |
| Total time and savings deposits | $1,077,086 |
| Noninterest-bearing deposits | $380,121 |
| Interest-bearing deposits | $768,786 |
| Retail deposits | $1,064,404 |
| IRAs and Keogh plan accounts | $12,715 |
| Brokered deposits | $45,000 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,339,634 |
| Cash & Balances due from depository institutions | $114,729 |
| Interest-bearing balances | $89,158 |
| Total securities | $288,707 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $894,610 |
| Loan and leases loss allowance | $19,515 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $7,166 |
| Other real estate owned | $557 |
| Goodwill and other intangibles | $0 |
| All other assets | $33,865 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,339,634 |
| Total Liabilities | $1,170,451 |
| Total deposits | $1,148,907 |
| Interest-bearing deposits | $768,786 |
| Deposits held in domestic offices | $1,148,907 |
| % insured (estimated) | $66 |
| Federal funds purchased and repurchase agreements | $4,853 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $16,691 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $894,610 |
| Loan and leases loss allowance | $19,515 |
| Total loans and leases (domestic) | $914,125 |
| All real estate loans | $670,489 |
| Real estate loans in domestic offices | $670,489 |
| Construction and development loans | $25,068 |
| Residential 1-4 family construction | $260 |
| Other construction, all land development and other land | $24,808 |
| Loans secured by nonfarm nonresidential properties | $170,452 |
| Nonfarm nonresidential secured by owner-occupied properties | $127,915 |
| Commercial real estate & other non-farm, non-residential | $42,537 |
| Multifamily residential real estate | $9,225 |
| 1-4 family residential loans | $271,298 |
| Farmland loans | $194,446 |
| Loans held in foreign offices | $0 |
| Farm loans | $86,042 |
| Commercial and industrial loans | $144,389 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $10,842 |
| Credit card loans | $400 |
| Related Plans | $377 |
| Consumer Auto Loans | $7,744 |
| Other loans to individuals | $2,321 |
| All other loans & leases | $2,364 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $795 |
| Loans to depository institutions and acceptances of other banks | $413 |
| Loans not secured by real estate | $5,395 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
The First National Bank in Sioux Falls had $894,610,000 of loans outstanding in 2019. $670,489,000 of loans were in real estate loans. $25,068,000 of loans were in development loans. $9,225,000 of loans were in multifamily mortgage loans. $271,298,000 of loans were in 1-4 family mortgage loans. $86,042,000 of loans were in farm loans. $400,000 of loans were in credit card loans. $7,744,000 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 | 214 | $60,492 | $282,673 |
| Nonfarm, nonresidential loans - <$100k | 23 | $1,244 | $54,087 |
| Nonfarm, nonresidential loans - $100-250k | 69 | $8,738 | $126,638 |
| Nonfarm, nonresidential loans - $250k-1MM | 122 | $50,510 | $414,016 |
| Commercial & Industrial, US addressed loans - <$1MM | 985 | $97,697 | $99,185 |
| Commercial & Industrial, US addressed loans - <$100k | 538 | $17,478 | $32,487 |
| Commercial & Industrial, US addressed loans - $100-250k | 276 | $29,440 | $106,667 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 171 | $50,779 | $296,953 |
| Farmland loans - <$1MM | 239 | $38,493 | $161,059 |
| Farmland loans - <$100k | 80 | $2,745 | $34,313 |
| Farmland loans - $100-250k | 80 | $12,264 | $153,300 |
| Farmland loans - $250k-1MM | 79 | $23,484 | $297,266 |
| Agriculture operations loans - <$1MM | 370 | $36,588 | $98,886 |
| Agriculture operations loans - <$100k | 202 | $7,574 | $37,495 |
| Agriculture operations loans - $100-250k | 108 | $15,138 | $140,167 |
| Agriculture operations loans - $250k-1MM | 60 | $13,876 | $231,267 |