First American Bank & Trust Mortgage Lending & HMDA Data, 2003
In 2003, First American Bank & Trust of Sioux Falls, SD reported 1,163 mortgage applications totaling $139.6 million. The average application was for $120,006, and applicants reported an average income of $52,988. 96% of its applications resulted in an originated loan and 3% were denied. Its largest markets were Sioux Falls, SD (836), Phoenix-Mesa, AZ (4) and Minneapolis-St. Paul, MN-WI (3) (applications in parentheses).
| Mortgage Company & Address | First American Bank & Trust 133 S. Main Sioux Falls, SD 57101 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 1,163 |
| Total Mortgage Loan Application Amount | $139,567,000 |
| Average Mortgage Loan Application Amount | $120,006 |
| Highest Mortgage Loan Application Amount | $9,400,000 |
| Average Applicant Income | $52,988 |
| Highest Applicant Income | $802,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First American Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Sioux Falls, SD | 836 | $ 110,284,000 | $ 131,918 | $ 49,000 |
| Phoenix-Mesa, AZ | 4 | $ 855,000 | $ 213,750 | $ 99,000 |
| Minneapolis-St. Paul, MN-WI | 3 | $ 1,246,000 | $ 415,333 | $ 103,000 |
| Rapid City, SD | 3 | $ 260,000 | $ 86,666 | $ 124,000 |
| Norfolk-Virginia Beach-Newport News, VA-NC | 2 | $ 480,000 | $ 240,000 | $ 84,000 |
| Fargo-Moorhead, ND-MN | 1 | $ 127,000 | $ 127,000 | $ 71,000 |
| Miami, FL | 1 | $ 145,000 | $ 145,000 | $ 31,000 |
| New Orleans, LA | 1 | $ 88,000 | $ 88,000 | $ 37,000 |
| Omaha, NE-IA | 1 | $ 98,000 | $ 98,000 | $ 48,000 |
| St. Cloud, MN | 1 | $ 143,000 | $ 143,000 | $ 94,000 |
Mortgage Loan Application Detail Totals for First American Bank & Trust in 2003
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing (home purchase or home improvement, one-to-four family) | 617 | $74,637,000 | $146,333 | $650,000 | $96,666 | $652,000 |
| Home Purchase (one-to-four family) | 501 | $53,200,000 | $132,555 | $322,000 | $59,666 | $802,000 |
| Home Improvement (one-to-four family) | 35 | $848,000 | $24,000 | $89,000 | $42,000 | $131,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 10 | $10,882,000 | $1,088,000 | $9,400,000 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 1,117 | $126,003,000 | $143,000 | $800,000 | $76,100 | $802,000 |
| Hispanic | 17 | $1,570,000 | $92,000 | $147,000 | $42,000 | $58,000 |
| Asian or Pacific Islander | 11 | $1,129,000 | $102,000 | $157,000 | $51,000 | $116,000 |
| Black | 8 | $659,000 | $82,000 | $108,000 | $50,000 | $75,000 |
| Not applicable | 4 | $9,826,000 | $2,456,000 | $9,400,000 | $14,000 | $43,000 |
| Other | 3 | $228,000 | $76,000 | $87,000 | $37,000 | $41,000 |
| American Indian or Alaskan Native | 2 | $146,000 | $73,000 | $125,000 | $78,000 | $116,000 |
| Information not provided by applicant in mail or telephone application | 1 | $6,000 | $6,000 | $6,000 | $25,000 | $25,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 854 | $106,538,000 | $144,250 | $9,400,000 | $85,625 | $802,000 |
| FHA-insured (Federal Housing Administration) | 255 | $26,043,000 | $82,500 | $157,000 | $37,250 | $145,000 |
| VA-guaranteed (Veterans Administration) | 47 | $6,287,000 | $165,333 | $240,000 | $67,666 | $145,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 7 | $699,000 | $99,000 | $124,000 | $29,000 | $57,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 1,121 | $135,349,000 | $144,400 | $9,400,000 | $76,500 | $802,000 |
| Application Denied By Financial Institution | 35 | $3,143,000 | $89,000 | $190,000 | $36,000 | $80,000 |
| Application Approved But Not Accepted | 7 | $1,075,000 | $176,000 | $240,000 | $79,333 | $151,000 |
| Application Withdrawn By Applicant | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 21 | $1,955,000 | $93,000 | $190,000 | $36,000 | $80,000 |
| Debt-To-Income Ratio | 6 | $459,000 | $76,000 | $140,000 | $30,000 | $49,000 |
| Collateral | 3 | $258,000 | $86,000 | $89,000 | $51,000 | $60,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 2 | $267,000 | $133,000 | $157,000 | $47,000 | $61,000 |
| Other | 2 | $193,000 | $96,000 | $133,000 | $30,000 | $39,000 |
| Employment History | 1 | $11,000 | $11,000 | $11,000 | $21,000 | $21,000 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First American Bank & Trust's 2003 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess First American Bank & Trust's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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