PlainLender

FIRST BANK

WAVERLY, IA

FIRST BANK processed 165 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 147 loans with a 4.8% denial rate. Home Purchase was the primary loan purpose. Based in WAVERLY, IA. The approval rate of 89.1% 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. FIRST BANK processed 165 HMDA-reported mortgage applications in 2024, originating 147 loans and denying 8 for a denial rate of 4.8% (applicants themselves withdrew 8 files before a decision). The average loan amount was $185,242. The lender reports under LEI 549300CWJ74FF73VDL12 from WAVERLY, 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. FIRST BANK's 89.1% origination rate tells you how often an application turned into funded money; the 4.8% 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, Employment history, which together explain the majority of rejections. Most activity concentrated in Conventional loans (165 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.

165
Applications
147
Originated
4.8%
Denial Rate
$185,242
Avg Loan Amount

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 165 147 8 $185,242

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for FIRST BANK (LEI: 549300CWJ74FF73VDL12) · 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
4
Credit history
2
Employment history
1
Mortgage insurance denied
1
Insufficient cash
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 95 82 $216,053
Refinancing 32 32 $243,125
Home Improvement 20 17 $73,000
Other 17 16 $40,294
Cash-out Refinancing 1 0 $115,000

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 108 85.2% 6.5%
Asian 2 100.0% 0.0%
Joint 2 100.0% 0.0%

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 108 87.0% 4.6%
Hispanic or Latino 4 50.0% 50.0%
Joint 1 100.0% 0.0%

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 FIRST 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 FIRST BANK process?
FIRST BANK processed 165 mortgage applications in the 2023 HMDA reporting year. Of these, 147 were originated (approved and funded), 8 were withdrawn by the applicant, and 8 were denied.
What is FIRST BANK's mortgage approval rate?
FIRST BANK has an approval (origination) rate of 89.1%, meaning 89.1% of all applications resulted in a funded mortgage. The denial rate is 4.8%.
What is the average loan amount at FIRST BANK?
The average mortgage loan amount at FIRST BANK is $185,242.
What are the most common reasons for mortgage denial at FIRST BANK?
The most common reasons for mortgage denial at FIRST BANK are: Debt-to-income ratio, Credit history, Employment history. In total, 8 applications were denied out of 165 total applications.
What types of mortgage loans does FIRST BANK offer?
FIRST BANK processes Conventional loans. The most common type is Conventional with 165 applications and an average loan amount of $185,242.
What loan purposes does FIRST BANK serve?
FIRST BANK serves the following loan purposes: Home Purchase (95 applications), Refinancing (32 applications), Home Improvement (20 applications), Other (17 applications), Cash-out Refinancing (1 applications). Home Purchase is the most common purpose.
Where is FIRST BANK located?
FIRST BANK is headquartered in WAVERLY, IA. The lender is identified by LEI 549300CWJ74FF73VDL12 in HMDA data.
How does FIRST BANK compare in lending across racial demographics?
FIRST BANK reports demographic lending data under HMDA requirements. White applicants have an approval rate of 85.2% and denial rate of 6.5%; Asian applicants have an approval rate of 100.0% and denial rate of 0.0%; Joint applicants have an approval rate of 100.0% and denial rate of 0.0%. 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.