PlainLender

CENTRAL BANK

STORM LAKE, IA

CENTRAL BANK processed 1,331 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,064 loans with a 5.7% denial rate. Home Purchase was the primary loan purpose. Based in STORM LAKE, IA. The approval rate of 79.9% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. CENTRAL BANK processed 1,331 HMDA-reported mortgage applications in 2024, originating 1,064 loans and denying 76 for a denial rate of 5.7% (applicants themselves withdrew 166 files before a decision). The average loan amount was $232,506 at a 6.957% average note rate, and applicants self-reported an average income of $35,000. The lender reports under LEI 549300Q76VHK6FGPX546 from STORM LAKE, IA.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% — HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. CENTRAL BANK's 79.9% origination rate tells you how often an application turned into funded money; the 5.7% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Unverifiable information, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,261 applications).

How to read this page. These figures are aggregate HMDA disclosures — they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting — it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

1,331
Applications
1,064
Originated
5.7%
Denial Rate
$232,506
Avg Loan Amount
Avg Interest Rate: 6.957% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,261 1,021 66 $233,763
FHA 40 19 9 $254,750
USDA 24 19 1 $125,417
VA 6 5 0 $248,333

Top loan types — CENTRAL BANK

Top loan types — CENTRAL BANK Horizontal bar chart of the top 4 items by value (applications). Top loan types — CENTRAL BANK Top 4 1. Conventional 1,261 2. FHA 40 3. USDA 24 4. VA 6 Top 5 loan types by application volume at CENTRAL BANK (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for CENTRAL BANK (LEI: 549300Q76VHK6FGPX546) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
41
Credit history
31
Unverifiable information
8
Employment history
5
Other
3
Collateral
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 842 707 $261,865
Home Improvement 146 110 $92,055
Refinancing 131 106 $287,061
Other 117 76 $147,650
Cash-out Refinancing 95 65 $217,421

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 1,169 79.3% 5.7%
Asian 32 78.1% 9.4%
Black or African American 27 70.4% 11.1%
Joint 12 83.3% 0.0%
American Indian or Alaska Native 5 80.0% 20.0%
2 or more minority races 1 0.0% 100.0%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 1,023 80.2% 5.5%
Hispanic or Latino 184 74.5% 7.1%
Joint 31 77.4% 9.7%

Nearby Lenders in IA

Other HMDA-reporting lenders in IA with similar activity. Compare any two side-by-side.

GREENSTATE CREDIT UNION

NORTH LIBERTY, IA

18,672 apps 12,784 originated 11.1% denied

VERIDIAN CREDIT UNION

WATERLOO, IA

11,053 apps 7,554 originated 12.1% denied

IOWA BANKERS MORTGAGE CORPORATION

JOHNSTON, IA

5,751 apps 2,402 originated 7.6% denied

DUPACO COMMUNITY CREDIT UNION

DUBUQUE, IA

3,587 apps 2,580 originated 19.3% denied

HILLS BANK AND TRUST COMPANY

HILLS, IA

2,597 apps 2,128 originated 7.0% denied
Compare CENTRAL BANK vs GREENSTATE CREDIT UNION →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did CENTRAL BANK process?
CENTRAL BANK processed 1,331 mortgage applications in the 2023 HMDA reporting year. Of these, 1,064 were originated (approved and funded), 166 were withdrawn by the applicant, and 76 were denied.
What is CENTRAL BANK's mortgage approval rate?
CENTRAL BANK has an approval (origination) rate of 79.9%, meaning 79.9% of all applications resulted in a funded mortgage. The denial rate is 5.7%.
What is the average loan amount at CENTRAL BANK?
The average mortgage loan amount at CENTRAL BANK is $232,506. The average interest rate is 6.957%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at CENTRAL BANK?
The most common reasons for mortgage denial at CENTRAL BANK are: Debt-to-income ratio, Credit history, Unverifiable information. In total, 76 applications were denied out of 1,331 total applications.
What types of mortgage loans does CENTRAL BANK offer?
CENTRAL BANK processes Conventional, FHA, USDA, VA loans. The most common type is Conventional with 1,261 applications and an average loan amount of $233,763.
What loan purposes does CENTRAL BANK serve?
CENTRAL BANK serves the following loan purposes: Home Purchase (842 applications), Home Improvement (146 applications), Refinancing (131 applications), Other (117 applications), Cash-out Refinancing (95 applications). Home Purchase is the most common purpose.
Where is CENTRAL BANK located?
CENTRAL BANK is headquartered in STORM LAKE, IA. The lender is identified by LEI 549300Q76VHK6FGPX546 in HMDA data.
How does CENTRAL BANK compare in lending across racial demographics?
CENTRAL BANK reports demographic lending data under HMDA requirements. White applicants have an approval rate of 79.3% and denial rate of 5.7%; Asian applicants have an approval rate of 78.1% and denial rate of 9.4%; Black or African American applicants have an approval rate of 70.4% and denial rate of 11.1%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.