First Western Bank & Trust Mortgage Lending & HMDA Data, 2024
In 2024, First Western Bank & Trust of Minot, ND reported 593 mortgage applications totaling $165.3 million, down 21% from 2023. The average application was for $278,827, and applicants reported an average income of $140,580. 77% of its applications resulted in an originated loan and 6% were denied. Its largest markets were Fargo, ND-MN (99), Minot, ND (93) and Minneapolis-St. Paul-Bloomington, MN-WI (58) (applications in parentheses).
| Mortgage Company & Address | First Western Bank & Trust 900 South Broadway Minot, ND 58701 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 |
| Total Number of Mortgage Applications | 593 |
| Total Mortgage Loan Application Amount | $165,345,000 |
| Average Mortgage Loan Application Amount | $278,827 |
| Highest Mortgage Loan Application Amount | $3,655,000 |
| Average Applicant Income | $140,580 |
| Highest Applicant Income | $1,156,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records First Western Bank & Trust filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans.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 Western Bank & Trust in 2024
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 | 473 | $137,765,000 | $291,000 | $3,655,000 | $140,000 | $1,156,000 |
| Refinancing | 65 | $17,115,000 | $263,000 | $1,555,000 | $163,000 | $879,000 |
| Cash-out Refinancing | 21 | $5,945,000 | $283,000 | $765,000 | $115,000 | $378,000 |
| Home Improvement | 20 | $2,010,000 | $100,000 | $405,000 | $115,000 | $224,000 |
| Other Purpose | 14 | $2,510,000 | $179,000 | $565,000 | $131,000 | $303,000 |
| 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 | 426 | $121,060,000 | $284,000 | $2,255,000 | $143,000 | $1,156,000 |
| Not applicable | 90 | $23,750,000 | $263,000 | $3,655,000 | $0 | $0 |
| Not Provided | 28 | $7,430,000 | $265,000 | $765,000 | $123,000 | $600,000 |
| Black or African American | 16 | $4,740,000 | $296,000 | $495,000 | $130,000 | $323,000 |
| Hispanic | 14 | $3,010,000 | $215,000 | $315,000 | $69,000 | $103,000 |
| Asian | 10 | $3,240,000 | $324,000 | $1,005,000 | $216,000 | $780,000 |
| American Indian or Alaskan Native | 9 | $2,115,000 | $235,000 | $385,000 | $114,000 | $176,000 |
| 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) | 519 | $144,925,000 | $279,000 | $3,655,000 | $150,000 | $1,156,000 |
| FHA-insured (Federal Housing Administration) | 50 | $12,590,000 | $251,000 | $445,000 | $82,000 | $216,000 |
| VA-guaranteed (Veterans Administration) | 21 | $7,205,000 | $343,000 | $705,000 | $105,000 | $205,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 3 | $625,000 | $208,000 | $265,000 | $69,000 | $84,000 |
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 | 459 | $123,705,000 | $269,000 | $3,655,000 | $141,000 | $1,156,000 |
| Application Withdrawn By Applicant | 94 | $33,440,000 | $355,000 | $2,255,000 | $157,000 | $903,000 |
| Application Denied By Financial Institution | 33 | $6,805,000 | $206,000 | $605,000 | $82,000 | $178,000 |
| Application Approved But Not Accepted | 7 | $1,395,000 | $199,000 | $355,000 | $186,000 | $255,000 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 560 | $158,540,000 | $283,000 | $3,655,000 | $145,000 | $1,156,000 |
| Credit History | 13 | $1,885,000 | $145,000 | $315,000 | $82,000 | $137,000 |
| Debt-To-Income Ratio | 12 | $3,360,000 | $280,000 | $605,000 | $94,000 | $178,000 |
| Other | 4 | $820,000 | $205,000 | $345,000 | $77,000 | $110,000 |
| Collateral | 2 | $390,000 | $195,000 | $215,000 | $65,000 | $77,000 |
| Employment History | 2 | $350,000 | $175,000 | $195,000 | $47,000 | $48,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into First Western Bank & Trust's 2024 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 Western 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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