PlainLender

First Option Bank

Paola, KS

First Option Bank processed 206 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 159 loans with a 10.2% denial rate. Home Purchase was the primary loan purpose. Based in Paola, KS. The approval rate of 77.2% 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 Option Bank processed 206 HMDA-reported mortgage applications in 2024, originating 159 loans and denying 21 for a denial rate of 10.2% (applicants themselves withdrew 5 files before a decision). The average loan amount was $264,223. The lender reports under LEI 254900IHGFQJY2WUC891 from Paola, KS.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness.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 Option Bank's 77.2% origination rate tells you how often an application turned into funded money; the 10.2% denial rate is a separate read on underwriting strictness. Most activity concentrated in Conventional loans (206 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.

206
Applications
159
Originated
10.2%
Denial Rate
$264,223
Avg Loan Amount

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 206 159 21 $264,223

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for First Option Bank (LEI: 254900IHGFQJY2WUC891) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 116 78 $285,000
Cash-out Refinancing 56 50 $251,607
Refinancing 32 29 $225,000
Home Improvement 2 2 $40,000

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 174 76.4% 11.5%
Asian 2 50.0% 0.0%
Black or African American 2 50.0% 0.0%
Joint 2 50.0% 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 178 76.4% 11.2%
Hispanic or Latino 1 0.0% 100.0%
Joint 1 100.0% 0.0%

Nearby Lenders in KS

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

COMMUNITYAMERICA CREDIT UNION

LENEXA, KS

9,380 apps 6,246 originated 15.0% denied

LEADERONE FINANCIAL CORP.

OVERLAND PARK, KS

6,935 apps 4,570 originated 7.7% denied

FARMERS BANK & TRUST

GREAT BEND, KS

2,656 apps 1,284 originated 8.0% denied

Capitol Federal Savings Bank

Lawrence, KS

2,539 apps 1,705 originated 9.7% denied

Armed Forces Bank, N.A.

Leavenworth, KS

2,058 apps 1,191 originated 11.5% denied
Compare First Option Bank vs COMMUNITYAMERICA 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 Option Bank process?
First Option Bank processed 206 mortgage applications in the 2023 HMDA reporting year. Of these, 159 were originated (approved and funded), 5 were withdrawn by the applicant, and 21 were denied.
What is First Option Bank's mortgage approval rate?
First Option Bank has an approval (origination) rate of 77.2%, meaning 77.2% of all applications resulted in a funded mortgage. The denial rate is 10.2%.
What is the average loan amount at First Option Bank?
The average mortgage loan amount at First Option Bank is $264,223.
What types of mortgage loans does First Option Bank offer?
First Option Bank processes Conventional loans. The most common type is Conventional with 206 applications and an average loan amount of $264,223.
What loan purposes does First Option Bank serve?
First Option Bank serves the following loan purposes: Home Purchase (116 applications), Cash-out Refinancing (56 applications), Refinancing (32 applications), Home Improvement (2 applications). Home Purchase is the most common purpose.
Where is First Option Bank located?
First Option Bank is headquartered in Paola, KS. The lender is identified by LEI 254900IHGFQJY2WUC891 in HMDA data.
How does First Option Bank compare in lending across racial demographics?
First Option Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 76.4% and denial rate of 11.5%; Asian applicants have an approval rate of 50.0% and denial rate of 0.0%; Black or African American applicants have an approval rate of 50.0% 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.