First Premier Bank

Compiled by PlainLender Editorial, Mortgage Lending Editorial Team · May 16, 2026

SIOUX FALLS, SD

First Premier Bank processed 1,495 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 909 loans with a 19.6% denial rate. Home Purchase was the primary loan purpose. Based in SIOUX FALLS, SD. The approval rate of 60.8% 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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness.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 Premier Bank's 60.8% origination rate tells you how often an application turned into funded money; the 19.6% 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, Other, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,214 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.

1,495

Applications

909

Originated

19.6%

Denial Rate

$306,860

Avg Loan Amount

Avg Interest Rate: 7.349% Avg Applicant Income: $37,000

Lending Activity

Type	Applications	Originated	Denied	Avg Loan
Conventional	1,214	743	233	$320,659
FHA	232	132	55	$243,578
VA	38	29	2	$288,158
USDA	11	5	3	$183,182

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2024 LAR, application-level mortgage data for First Premier Bank (LEI: 549300Z77WUYJM3QG591) · 2024 Accessed 2026-07-23 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 Approval rates exclude withdrawn / incomplete applications.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

100

Credit history

Other

Collateral

Employment history

Insufficient cash

Credit application incomplete

Unverifiable information

Loan Purpose Breakdown

Purpose	Applications	Originated	Avg Loan
Home Purchase	815	490	$277,356
Home Improvement	259	192	$106,042
Refinancing	240	151	$745,167
Cash-out Refinancing	91	20	$212,253
Other	90	56	$78,778

Geographic Coverage — Lending by Race

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

Race	Applications	Approval Rate	Denial Rate
White	1,268	63.3%	17.5%
Black or African American	66	36.4%	40.9%
Asian *	23	43.5%	26.1%
Joint *	12	58.3%	25.0%
American Indian or Alaska Native *	7	14.3%	71.4%
Native Hawaiian or Other Pacific Islander *	2	100.0%	0.0%
2 or more minority races *	1	0.0%	0.0%

* 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	1,171	64.4%	16.6%
Hispanic or Latino	163	41.1%	36.8%
Joint *	17	88.2%	5.9%

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

Nearby Lenders in SD

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

Plains Commerce Bank

Hoven, SD

23,164 apps 13,605 originated 3.1% denied

First Bank & Trust

Sioux Falls, SD

1,951 apps 1,358 originated 12.6% denied

Black Hills Federal Credit Union

RAPID CITY, SD

1,766 apps 1,019 originated 22.9% denied

Bankwest, INC.

PIERRE, SD

1,663 apps 636 originated 38.6% denied

First Dakota National Bak

Yankton, SD

708 apps 573 originated 5.9% denied

Compare First Premier Bank vs Plains Commerce Bank →

Mortgage Lending Guides

Frequently Asked Questions

How many mortgage applications did First Premier Bank process?

First Premier Bank processed 1,495 mortgage applications in the 2024 HMDA reporting year. Of these, 909 were originated (approved and funded), 275 were withdrawn by the applicant, and 293 were denied.

What is First Premier Bank's mortgage approval rate?

First Premier Bank has an approval (origination) rate of 60.8%, meaning 60.8% of all applications resulted in a funded mortgage. The denial rate is 19.6%.

What is the average loan amount at First Premier Bank?

The average mortgage loan amount at First Premier Bank is $306,860. The average interest rate is 7.349%. The average applicant income is $37,000.

What are the most common reasons for mortgage denial at First Premier Bank?

The most common reasons for mortgage denial at First Premier Bank are: Debt-to-income ratio, Credit history, Other. In total, 293 applications were denied out of 1,495 total applications.

What types of mortgage loans does First Premier Bank offer?

First Premier Bank processes Conventional, FHA, VA, USDA loans. The most common type is Conventional with 1,214 applications and an average loan amount of $320,659.

What loan purposes does First Premier Bank serve?

First Premier Bank serves the following loan purposes: Home Purchase (815 applications), Home Improvement (259 applications), Refinancing (240 applications), Cash-out Refinancing (91 applications), Other (90 applications). Home Purchase is the most common purpose.

Where is First Premier Bank located?

First Premier Bank is headquartered in SIOUX FALLS, SD. The lender is identified by LEI 549300Z77WUYJM3QG591 in HMDA data.

How does First Premier Bank compare in lending across racial demographics?

First Premier Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 63.3% and denial rate of 17.5%; Black or African American applicants have an approval rate of 36.4% and denial rate of 40.9%; Asian applicants have an approval rate of 43.5% and denial rate of 26.1%. 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.

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.