First National Bank-Brookings Mortgage Lending & HMDA Data, 2003
In 2003, First National Bank-Brookings of Garretson, SD reported 1,092 mortgage applications totaling $88.5 million. The average application was for $81,055, and applicants reported an average income of $50,689. 85% of its applications resulted in an originated loan and 8% were denied. Its largest markets were Sioux Falls, SD (56), Rapid City, SD (4) and Minneapolis-St. Paul, MN-WI (2) (applications in parentheses).
| Mortgage Company & Address | First National Bank-Brookings Po Box G Garretson, SD 57030 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 1,092 |
| Total Mortgage Loan Application Amount | $88,513,000 |
| Average Mortgage Loan Application Amount | $81,055 |
| Highest Mortgage Loan Application Amount | $872,000 |
| Average Applicant Income | $50,689 |
| Highest Applicant Income | $759,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First National Bank-Brookings filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 National Bank-Brookings 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) | 688 | $55,673,000 | $92,000 | $582,000 | $60,333 | $759,000 |
| Home Purchase (one-to-four family) | 299 | $28,850,000 | $121,428 | $500,000 | $95,714 | $225,000 |
| Home Improvement (one-to-four family) | 98 | $1,628,000 | $12,000 | $119,000 | $49,000 | $301,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 7 | $2,362,000 | $337,000 | $872,000 | $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 | 1,059 | $84,731,000 | $105,777 | $582,000 | $92,222 | $759,000 |
| Not applicable | 11 | $2,055,000 | $186,000 | $872,000 | $0 | $0 |
| Information not provided by applicant in mail or telephone application | 6 | $137,000 | $16,666 | $47,000 | $39,333 | $79,000 |
| American Indian or Alaskan Native | 6 | $466,000 | $54,500 | $340,000 | $52,000 | $107,000 |
| Asian or Pacific Islander | 5 | $646,000 | $129,000 | $150,000 | $67,000 | $79,000 |
| Other | 3 | $298,000 | $99,000 | $145,000 | $54,000 | $65,000 |
| Black | 1 | $30,000 | $30,000 | $30,000 | $22,000 | $22,000 |
| Hispanic | 1 | $150,000 | $150,000 | $150,000 | $103,000 | $103,000 |
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) | 1,027 | $83,566,000 | $95,200 | $872,000 | $86,300 | $759,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 47 | $3,262,000 | $69,000 | $113,000 | $26,000 | $52,000 |
| VA-guaranteed (Veterans Administration) | 13 | $1,297,000 | $139,000 | $186,000 | $69,500 | $120,000 |
| FHA-insured (Federal Housing Administration) | 5 | $388,000 | $77,000 | $115,000 | $49,000 | $58,000 |
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 | 927 | $76,664,000 | $103,000 | $872,000 | $84,000 | $759,000 |
| Application Denied By Financial Institution | 89 | $6,273,000 | $82,500 | $500,000 | $68,500 | $154,000 |
| Application Approved But Not Accepted | 54 | $3,736,000 | $54,500 | $225,000 | $70,000 | $127,000 |
| Application Withdrawn By Applicant | 22 | $1,840,000 | $83,000 | $340,000 | $46,000 | $107,000 |
| 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 | 42 | $1,907,000 | $30,333 | $136,000 | $49,333 | $96,000 |
| Debt-To-Income Ratio | 35 | $3,243,000 | $78,000 | $500,000 | $33,500 | $101,000 |
| Collateral | 9 | $754,000 | $83,000 | $150,000 | $38,000 | $61,000 |
| Other | 2 | $287,000 | $143,500 | $194,000 | $91,000 | $154,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $82,000 | $82,000 | $82,000 | $27,000 | $27,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First National Bank-Brookings'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 National Bank-Brookings'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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