PlainLender

First Interstate Bank

Billings, MT

First Interstate Bank processed 4,267 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 2,414 loans with a 27.5% denial rate. Home Improvement was the primary loan purpose. Based in Billings, MT. The approval rate of 56.6% reflects originated loans as a share of all applications.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness.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 Interstate Bank's 56.6% origination rate tells you how often an application turned into funded money; the 27.5% 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, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (4,130 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.

4,267
Applications
2,414
Originated
27.5%
Denial Rate
$186,685
Avg Loan Amount
Avg Interest Rate: 8.855% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 4,130 2,378 1,133 $185,467
FHA 107 25 34 $209,299
VA 19 6 6 $348,158
USDA 11 5 2 $145,000

Top loan types - First Interstate Bank

Top loan types - First Interstate Bank Horizontal bar chart of the top 4 items by value (applications). Top loan types - First Interstate Bank Top 4 1. Conventional 4,130 2. FHA 107 3. VA 19 4. USDA 11 Top 5 loan types by application volume at First Interstate Bank (HMDA 2024). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for First Interstate Bank (LEI: 549300RFSMIRUODUVW59) · 2024 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
589
Credit history
361
Collateral
329
Other
43
Insufficient cash
41
Employment history
16
Unverifiable information
9
Credit application incomplete
5

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Improvement 1,529 921 $105,118
Home Purchase 1,107 549 $353,988
Refinancing 908 607 $169,570
Other 589 295 $105,458
Cash-out Refinancing 134 42 $208,284

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 3,587 56.8% 27.9%
Joint 83 55.4% 28.9%
Asian 55 47.3% 30.9%
American Indian or Alaska Native * 48 27.1% 60.4%
Black or African American * 23 26.1% 65.2%
Native Hawaiian or Other Pacific Islander * 7 42.9% 57.1%
2 or more minority races * 2 0.0% 50.0%

* Fewer than 50 applications -- percentages for this group have wide statistical uncertainty and should not be read as precise.

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 3,509 57.7% 27.7%
Hispanic or Latino 164 29.3% 54.9%
Joint 68 58.8% 26.5%

Nearby Lenders in MT

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

Glacier Bank

Kalispell, MT

7,296 apps 4,434 originated 16.5% denied

Stockman Bank of Montana

Miles City, MT

2,613 apps 2,011 originated 5.7% denied

Opportunity Bank of Montana

HELENA, MT

1,537 apps 1,062 originated 8.7% denied

Altana Federal Credit Union

Billings, MT

547 apps 423 originated 15.2% denied

Valley Financial Credit Union

Billings, MT

474 apps 363 originated 17.1% denied
Compare First Interstate Bank vs Glacier Bank →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did First Interstate Bank process?
First Interstate Bank processed 4,267 mortgage applications in the 2024 HMDA reporting year. Of these, 2,414 were originated (approved and funded), 519 were withdrawn by the applicant, and 1,175 were denied.
What is First Interstate Bank's mortgage approval rate?
First Interstate Bank has an approval (origination) rate of 56.6%, meaning 56.6% of all applications resulted in a funded mortgage. The denial rate is 27.5%.
What is the average loan amount at First Interstate Bank?
The average mortgage loan amount at First Interstate Bank is $186,685. The average interest rate is 8.855%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at First Interstate Bank?
The most common reasons for mortgage denial at First Interstate Bank are: Debt-to-income ratio, Credit history, Collateral. In total, 1,175 applications were denied out of 4,267 total applications.
What types of mortgage loans does First Interstate Bank offer?
First Interstate Bank processes Conventional, FHA, VA, USDA loans. The most common type is Conventional with 4,130 applications and an average loan amount of $185,467.
What loan purposes does First Interstate Bank serve?
First Interstate Bank serves the following loan purposes: Home Improvement (1,529 applications), Home Purchase (1,107 applications), Refinancing (908 applications), Other (589 applications), Cash-out Refinancing (134 applications). Home Improvement is the most common purpose.
Where is First Interstate Bank located?
First Interstate Bank is headquartered in Billings, MT. The lender is identified by LEI 549300RFSMIRUODUVW59 in HMDA data.
How does First Interstate Bank compare in lending across racial demographics?
First Interstate Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 56.8% and denial rate of 27.9%; Joint applicants have an approval rate of 55.4% and denial rate of 28.9%; Asian applicants have an approval rate of 47.3% and denial rate of 30.9%. 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.

Every figure on PlainLender is rendered directly from CFPB HMDA federal source data, no number is typed in by an editor. This page draws directly on CFPB HMDA federal source data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.