The First National Bank In Sioux Falls Mortgage Rates, Fees & Info

Sioux Falls, SD

LEI: 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, Refi, and Cash Out 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, Brookings, Spearfish, and Brainerd among others. We have data for 14 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 an above average pick rate when compared to similar lenders. The First National Bank In Sioux Falls 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.24% 3/28/24
30 Year Conventional Refi 6.09% 3/28/24
30 Year Cash-out Refi 6.19% 3/28/24
15 Year Conventional Purchase 5.71% 3/28/24
15 Year Conventional Refi 5.54% 3/28/24
15 Year Cash-out Refi 5.54% 3/28/24
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.

The First National Bank In Sioux Falls Mortgage Calculator






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

This is not an official calculator from The First National Bank In Sioux Falls. 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

493

Origination Dollar Volume (All Markets)

$136,845,000

Employee count

275

Awards

The First National Bank in Sioux Falls 30 Year Conventional Loans gold The First National Bank in Sioux Falls 30 Year Conventional Loans gold The First National Bank in Sioux Falls 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
SIOUX FALLS, SD (FHA|USDA|VA) 416 $114,250,000 $274,639 $4,446 2.70%
Outside of Metro Areas 48 $11,320,000 $235,833 $4,511 2.46%
Spirit Lake, IA (FHA|USDA|VA) 7 $4,125,000 $589,286 $8,078 2.28%
Brookings, SD (FHA|USDA|VA) 6 $2,570,000 $428,333 $5,011 2.87%
Spearfish, SD (FHA|USDA|VA) 3 $1,355,000 $451,667 $7,229 2.38%
Brainerd, MN (FHA|USDA|VA) 2 $850,000 $425,000 $2,929 3.20%
Watertown, SD (FHA|USDA|VA) 1 $605,000 $605,000 $8,614 2.88%
Vermillion, SD (FHA|USDA|VA) 3 $475,000 $158,333 $2,601 2.17%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $405,000 $405,000 $2,357 2.00%
Mitchell, SD (FHA|USDA|VA) 2 $280,000 $140,000 $4,287 3.00%
RAPID CITY, SD (FHA|USDA|VA) 1 $235,000 $235,000 $4,968 2.75%
DUBUQUE, IA (FHA|USDA|VA) 1 $155,000 $155,000 $2,631 2.88%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $115,000 $115,000 $3,655 2.25%
Yankton, SD (FHA|USDA|VA) 1 $105,000 $105,000 $2,831 2.00%
The First National Bank In Sioux Falls's top markets include Sioux Falls, Spirit Lake, Brookings, Spearfish, and Brainerd among others.

Their top states include:
  • South Dakota (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • 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 493 $136,845,000 $277,576 $4,517 2.67%

    For 2021, The First National Bank In Sioux Falls's most frequently originated type of loan was Conventional, with 493 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 174 $51,090,000 $293,621 $4,652 2.83%
    Refi 157 $39,105,000 $249,076 $4,298 2.66%
    Cash Out Refi 133 $38,875,000 $292,293 $4,661 2.44%
    Other 20 $6,080,000 $304,000 $4,651 2.77%
    Home Improvement 9 $1,695,000 $188,333 $2,875 2.94%

    For 2021, The First National Bank In Sioux Falls's most frequently cited loan purpose was Home Purchase, with 174 originations. The 2nd most popular reason was Refi, with 157 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 183 $52,315,000 $285,874 $4,610 2.75%
    15 Year 121 $35,825,000 $296,074 $4,777 2.17%
    10 Year 100 $22,060,000 $220,600 $3,772 2.90%
    20 Year 65 $19,645,000 $302,231 $4,643 2.60%
    5 Year 18 $3,690,000 $205,000 $738 3.72%
    1 Year 3 $1,275,000 $425,000 $0 4.67%
    Other 3 $2,035,000 $678,333 $0 3.85%

    For 2021, The First National Bank In Sioux Falls's most frequently cited loan duration was 30 Year, with 183 originations. The 2nd most popular length was 15 Year, with 121 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $2k-3k 122 $24,970,000 $204,672
    $3k-4k 73 $21,685,000 $297,055
    $1k-2k 69 $7,875,000 $114,130
    $5k+ 62 $39,140,000 $631,290
    $<1k 56 $10,050,000 $179,464
    $4k-5k 43 $17,795,000 $413,837

    The First National Bank In Sioux Falls's average total fees were $4,610, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 122 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 236 $71,240,000 $301,864
    2.5-3% 166 $47,140,000 $283,976
    3-4% 72 $16,420,000 $228,056
    4-5% 19 $2,045,000 $107,632

    During 2021, The First National Bank In Sioux Falls's average interest rate for loans was 2.75%, while their most frequently originated rate bucket for loans was <2.5%, with 236 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 186 $51,720,000 $278,065 $4,522 2.55%
    $100k-200k 144 $21,700,000 $150,694 $3,165 2.71%
    $400k-600k 72 $34,600,000 $480,556 $6,758 2.51%
    $100,000 or less 63 $4,535,000 $71,984 $1,622 3.15%
    $600k-1MM 20 $14,890,000 $744,500 $8,956 2.68%
    $1MM+ 8 $9,400,000 $1,175,000 $14,185 2.47%

    2021 saw The First National Bank In Sioux Falls place emphasis on $200k-400k loans with 186 originations, totaling $51,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 84 $22,990,000 $273,690 $4,722 2.50%
    $150k-250k 81 $24,755,000 $305,617 $4,965 2.54%
    $250k+ 78 $38,970,000 $499,615 $7,165 2.28%
    $75k-100k 63 $12,535,000 $198,968 $3,696 2.60%
    $50k-75k 51 $9,625,000 $188,725 $3,606 2.58%
    $50k or less 43 $6,135,000 $142,674 $3,154 2.81%

    The First National Bank In Sioux Falls lent most frequently to those with incomes in the $100k-150k range, with 84 originations. The second most popular income band? $150k-250k, with 81 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 138 $39,390,000 $285,435 $4,481 2.55%
    <20% 90 $26,430,000 $293,667 $4,663 2.28%
    30-36% 68 $19,910,000 $292,794 $4,547 2.49%
    42% 18 $5,160,000 $286,667 $4,778 2.60%
    41% 15 $4,195,000 $279,667 $4,233 2.57%
    38% 14 $3,280,000 $234,286 $3,651 2.75%
    43% 13 $3,285,000 $252,692 $4,405 2.56%
    37% 11 $2,845,000 $258,636 $4,062 2.48%
    39% 10 $3,150,000 $315,000 $5,246 2.66%
    40% 9 $2,015,000 $223,889 $4,038 2.43%
    44% 8 $1,580,000 $197,500 $3,691 2.72%
    36% 7 $1,875,000 $267,857 $3,950 2.84%
    >60% 7 $4,005,000 $572,143 $7,965 2.11%
    45% 6 $1,350,000 $225,000 $3,832 2.38%
    48% 5 $985,000 $197,000 $3,437 3.08%
    47% 4 $770,000 $192,500 $3,840 2.65%
    50-60% 4 $1,140,000 $285,000 $4,919 2.50%
    46% 3 $785,000 $261,667 $4,860 2.54%
    49% 2 $510,000 $255,000 $4,622 2.31%

    The First National Bank In Sioux Falls lent most frequently to those with DTI ratios of 20-30%, with 138 originations. The next most common DTI ratio? <20%, with 90 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 403 $114,625,000 $284,429 $4,525 2.52%
    Not applicable 54 $13,080,000 $242,222 $0 3.87%
    Not provided 28 $7,570,000 $270,357 $4,582 2.49%
    American Indian 3 $625,000 $208,333 $4,209 3.12%
    Black 4 $610,000 $152,500 $3,281 2.66%
    Asian 1 $335,000 $335,000 $5,255 2.50%

    Approval Rates

    Total approvals of all applications
    99.27%

    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 origination
    91.28%

    The First National Bank In Sioux Falls has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 493 $136,845,000 $277,576

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    493 $136,845,000 $277,576

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $6,045,000 $123,367 $2,639 2.56%
    40-60% 105 $28,885,000 $275,095 $4,648 2.43%
    60-80% 220 $66,250,000 $301,136 $4,851 2.76%
    80-100% 101 $34,495,000 $341,535 $5,258 2.65%
    Under 20% 18 $1,170,000 $65,000 $1,088 3.38%

    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 $664,028
    The First National Bank In Sioux Falls 101 S Splitrock Blvd Brandon, SD 57005 Full Service B&M $116,834
    The First National Bank In Sioux Falls 111 West 17th Street Sioux Falls, SD 57104 Full Service B&M $1,480
    The First National Bank In Sioux Falls 120 East Second Avenue Flandreau, SD 57028 Full Service B&M $124,512
    The First National Bank In Sioux Falls 1321 West Dow Rummel Street Sioux Falls, SD 57104 Full Service B&M $4,214
    The First National Bank In Sioux Falls 1901 East Benson Road Sioux Falls, SD 57104 Full Service B&M $96,428
    The First National Bank In Sioux Falls 202 Saint Olaf Baltic, SD 57003 Full Service B&M $21,042
    The First National Bank In Sioux Falls 2505 West 41st Street Sioux Falls, SD 57105 Full Service B&M $61,605
    The First National Bank In Sioux Falls 2815 S Westlake Dr Sioux Falls, SD 57106 Full Service B&M $363
    The First National Bank In Sioux Falls 3008 East Aspen Boulevard Brandon, SD 57005 Full Service B&M $1,458
    The First National Bank In Sioux Falls 312 East 4th Street Dell Rapids, SD 57022 Full Service B&M $70,368
    The First National Bank In Sioux Falls 3408 W. Ralph Rogers Road Sioux Falls, SD 57108 Full Service B&M $1,724
    The First National Bank In Sioux Falls 4000 South Westport Avenue Sioux Falls, SD 57106 Full Service B&M $2,571
    The First National Bank In Sioux Falls 401 West 57th Street Sioux Falls, SD 57108 Full Service B&M $74,422
    The First National Bank In Sioux Falls 408 North Cliff Avenue Harrisburg, SD 57032 Full Service B&M $63,372
    The First National Bank In Sioux Falls 4500 Prince Of Peace Place Sioux Falls, SD 57103 Full Service B&M $437
    The First National Bank In Sioux Falls 5201 E. Arrowhead Parkway Sioux Falls, SD 57110 Full Service B&M $16,421
    The First National Bank In Sioux Falls 5217 South Louise Avenue Sioux Falls, SD 57104 Full Service B&M $44,937

    For 2021, The First National Bank In Sioux Falls had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $50,795
    Net interest income $49,895
    Total noninterest income $17,372
    Gross Fiduciary activities income $9,879
    Service charges on deposit accounts $1,026
    Trading account gains and fees $0
    Additional Noninterest Income $6,467
    Pre-tax net operating income $22,380
    Securities gains (or losses, -) $649
    Income before extraordinary items $17,189
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $17,189
    Minority interest net income $0
    Net income $17,189
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $16,676

    The First National Bank In Sioux Falls's gross interest income from loans was $50,795,000.
    The First National Bank In Sioux Falls's net interest income from loans was $49,895,000.
    The First National Bank In Sioux Falls's fee based income from loans was $1,026,000.
    The First National Bank In Sioux Falls's net income from loans was $17,189,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $900
    Provision for credit losses $0
    Total noninterest expense $44,887
    Salaries and employee benefits $28,167
    Premises and equipment expense $5,685
    Additional noninterest expense $11,035
    Applicable income taxes $5,840
    Net charge-offs $-409
    Cash dividends $5,752

    The First National Bank In Sioux Falls's interest expense for loans was $900,000.
    The First National Bank In Sioux Falls's payroll and benefits expense were $28,167,000.
    The First National Bank In Sioux Falls's property, plant and equipment expenses $5,685,000.

    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 6.0%
    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 $1,546,388
    Deposits held in domestic offices $1,546,388
    Deposits by Individuals, partnerships, and corporations $1,266,429
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $276,979
    Deposits by Commercial banks and other depository institutions in U.S. $2,979
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $191,251
    Demand deposits $97,633
    Nontransaction accounts $1,355,136
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $1,262,504
    Total time deposits $92,632
    Total time and savings deposits $1,448,754
    Noninterest-bearing deposits $622,661
    Interest-bearing deposits $923,727
    Retail deposits $1,498,277
    IRAs and Keogh plan accounts $11,979
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,760,455
    Cash & Balances due from depository institutions $137,041
    Interest-bearing balances $116,997
    Total securities $492,503
    Federal funds sold & reverse repurchase $1,805
    Net loans and leases $1,083,556
    Loan and leases loss allowance $20,290
    Trading account assets $0
    Bank premises and fixed assets $14,471
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $31,079

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,760,455
    Total Liabilities $1,568,220
    Total deposits $1,546,388
    Interest-bearing deposits $923,727
    Deposits held in domestic offices $1,546,388
    % insured (estimated) $52
    Federal funds purchased and repurchase agreements $4,757
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $17,075

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,083,556
    Loan and leases loss allowance $20,290
    Total loans and leases (domestic) $1,103,846
    All real estate loans $798,863
    Real estate loans in domestic offices $798,863
    Construction and development loans $42,179
    Residential 1-4 family construction $1,716
    Other construction, all land development and other land $40,463
    Loans secured by nonfarm nonresidential properties $194,991
    Nonfarm nonresidential secured by owner-occupied properties $142,798
    Commercial real estate & other non-farm, non-residential $52,193
    Multifamily residential real estate $11,369
    1-4 family residential loans $335,267
    Farmland loans $215,057
    Loans held in foreign offices $0
    Farm loans $127,624
    Commercial and industrial loans $165,563
    To non-U.S. addressees $0
    Loans to individuals $10,406
    Credit card loans $481
    Related Plans $309
    Consumer Auto Loans $6,391
    Other loans to individuals $3,225
    All other loans & leases $1,390
    Loans to foreign governments and official institutions $0
    Other loans $382
    Loans to depository institutions and acceptances of other banks $138
    Loans not secured by real estate $7,277
    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 $1,083,556,000 of loans outstanding in 2021. $798,863,000 of loans were in real estate loans. $42,179,000 of loans were in development loans. $11,369,000 of loans were in multifamily mortgage loans. $335,267,000 of loans were in 1-4 family mortgage loans. $127,624,000 of loans were in farm loans. $481,000 of loans were in credit card loans. $6,391,000 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 205 $62,592 $305,327
    Nonfarm, nonresidential loans - <$100k 22 $1,106 $50,273
    Nonfarm, nonresidential loans - $100-250k 61 $8,600 $140,984
    Nonfarm, nonresidential loans - $250k-1MM 122 $52,886 $433,492
    Commercial & Industrial, US addressed loans - <$1MM 792 $92,202 $116,417
    Commercial & Industrial, US addressed loans - <$100k 479 $16,191 $33,802
    Commercial & Industrial, US addressed loans - $100-250k 152 $26,005 $171,086
    Commercial & Industrial, US addressed loans - $250k-1MM 161 $50,006 $310,596
    Farmland loans - <$1MM 220 $36,616 $166,436
    Farmland loans - <$100k 64 $2,031 $31,734
    Farmland loans - $100-250k 72 $9,091 $126,264
    Farmland loans - $250k-1MM 84 $25,494 $303,500
    Agriculture operations loans - <$1MM 438 $46,045 $105,126
    Agriculture operations loans - <$100k 248 $9,343 $37,673
    Agriculture operations loans - $100-250k 112 $15,576 $139,071
    Agriculture operations loans - $250k-1MM 78 $21,126 $270,846