First Bank & Trust Mortgage Lending & HMDA Data, 2023
In 2023, First Bank & Trust of Brookings, SD reported 1,912 mortgage applications totaling $471.9 million, down 5% from 2022. The average application was for $246,814, and applicants reported an average income of $159,657. 70% of its applications resulted in an originated loan and 12% were denied. Its largest markets were Sioux Falls, SD (664), Minneapolis-St. Paul-Bloomington, MN-WI (286) and Sioux City, IA-NE-SD (13) (applications in parentheses).
| Mortgage Company & Address | First Bank & Trust 520 6th Street Brookings, SD 57006 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2012 2011 2010 2009 2008 2007 2006 2005 2004 |
| Total Number of Mortgage Applications | 1,912 |
| Total Mortgage Loan Application Amount | $471,910,000 |
| Average Mortgage Loan Application Amount | $246,814 |
| Highest Mortgage Loan Application Amount | $21,505,000 |
| Average Applicant Income | $159,657 |
| Highest Applicant Income | $6,671,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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.
Mortgage Loan Application Detail Totals for First Bank & Trust in 2023
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 |
|---|---|---|---|---|---|---|
| Home Purchase | 1,149 | $373,515,000 | $325,000 | $21,505,000 | $164,000 | $6,671,000 |
| Home Improvement | 279 | $21,155,000 | $75,000 | $505,000 | $138,000 | $890,000 |
| Refinancing | 259 | $47,795,000 | $184,000 | $13,665,000 | $144,000 | $3,066,000 |
| Other Purpose | 171 | $16,505,000 | $96,000 | $1,425,000 | $209,000 | $3,656,000 |
| Cash-out Refinancing | 54 | $12,940,000 | $239,000 | $515,000 | $98,000 | $242,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $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 | 1,553 | $317,365,000 | $204,000 | $4,605,000 | $161,000 | $6,671,000 |
| Not Provided | 151 | $41,185,000 | $272,000 | $1,605,000 | $151,000 | $1,459,000 |
| Not applicable | 98 | $88,370,000 | $901,000 | $21,505,000 | $0 | $0 |
| Hispanic | 42 | $9,330,000 | $222,000 | $715,000 | $95,000 | $515,000 |
| Asian | 23 | $4,105,000 | $178,000 | $465,000 | $149,000 | $501,000 |
| Black or African American | 20 | $4,380,000 | $219,000 | $725,000 | $289,000 | $1,200,000 |
| American Indian or Alaskan Native | 12 | $3,770,000 | $314,000 | $975,000 | $167,000 | $426,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 1,691 | $419,235,000 | $247,000 | $21,505,000 | $170,000 | $6,671,000 |
| FHA-insured (Federal Housing Administration) | 131 | $30,585,000 | $233,000 | $485,000 | $80,000 | $344,000 |
| VA-guaranteed (Veterans Administration) | 46 | $15,260,000 | $331,000 | $855,000 | $114,000 | $358,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 44 | $6,830,000 | $155,000 | $295,000 | $62,000 | $99,000 |
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 | 1,329 | $336,325,000 | $253,000 | $21,505,000 | $169,000 | $5,322,000 |
| Application Withdrawn By Applicant | 326 | $90,700,000 | $278,000 | $2,405,000 | $166,000 | $6,671,000 |
| Application Denied By Financial Institution | 227 | $39,415,000 | $173,000 | $1,055,000 | $94,000 | $1,459,000 |
| Application Approved But Not Accepted | 16 | $2,930,000 | $183,000 | $505,000 | $203,000 | $600,000 |
| File Closed For Incompleteness | 14 | $2,540,000 | $181,000 | $365,000 | $117,000 | $342,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial 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 |
|---|---|---|---|---|---|---|
| Not applicable | 1,685 | $432,495,000 | $256,000 | $21,505,000 | $169,000 | $6,671,000 |
| Debt-To-Income Ratio | 129 | $25,955,000 | $201,000 | $1,055,000 | $80,000 | $434,000 |
| Credit History | 68 | $8,740,000 | $128,000 | $615,000 | $112,000 | $1,459,000 |
| Collateral | 17 | $2,545,000 | $149,000 | $475,000 | $93,000 | $336,000 |
| Other | 5 | $245,000 | $49,000 | $85,000 | $257,000 | $609,000 |
| Unverifiable Information | 3 | $665,000 | $221,000 | $305,000 | $66,000 | $99,000 |
| Employment History | 3 | $885,000 | $295,000 | $465,000 | $105,000 | $153,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $365,000 | $365,000 | $365,000 | $85,000 | $85,000 |
| Credit Application Incomplete | 1 | $15,000 | $15,000 | $15,000 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Bank & Trust's 2023 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 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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