PlainLender

First State Bank

Mendota, IL

First State Bank processed 461 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 384 loans with a 8.5% denial rate. Home Purchase was the primary loan purpose. Based in Mendota, IL. The approval rate of 83.3% 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 State Bank processed 461 HMDA-reported mortgage applications in 2024, originating 384 loans and denying 39 for a denial rate of 8.5% (applicants themselves withdrew 28 files before a decision). The average loan amount was $211,876 at a 7.401% average note rate, and applicants self-reported an average income of $33,000. The lender reports under LEI 549300CQG2T7TCGY8Q67 from Mendota, IL.

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several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness.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 State Bank's 83.3% origination rate tells you how often an application turned into funded money; the 8.5% 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, Unverifiable information, which together explain the majority of rejections. Most activity concentrated in Conventional loans (461 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.

461
Applications
384
Originated
8.5%
Denial Rate
$211,876
Avg Loan Amount
Avg Interest Rate: 7.401% Avg Applicant Income: $33,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 461 384 39 $211,876

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for First State Bank (LEI: 549300CQG2T7TCGY8Q67) · 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
17
Credit history
13
Unverifiable information
6
Collateral
5
Insufficient cash
2
Other
1
Credit application incomplete
1

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 289 250 $222,163
Refinancing 83 68 $279,699
Other 51 34 $111,078
Home Improvement 29 29 $123,276
Cash-out Refinancing 9 3 $112,778

Geographic Coverage — Lending by Race

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

Race Applications Approval Rate Denial Rate
White 302 81.8% 9.9%
Asian 11 81.8% 9.1%
American Indian or Alaska Native 2 50.0% 50.0%
Black or African American 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 279 82.8% 8.6%
Hispanic or Latino 29 65.5% 24.1%
Joint 10 90.0% 10.0%

Nearby Lenders in IL

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

GUARANTEED RATE, INC.

CHICAGO, IL

124,492 apps 62,820 originated 5.1% denied

BMO Harris Bank NA

Chicago, IL

42,165 apps 18,166 originated 29.4% denied

Mutual of Omaha Mortgage

Lombard, IL

34,393 apps 19,951 originated 20.2% denied

GUARANTEED RATE AFFINITY, LLC

CHICAGO, IL

21,826 apps 14,587 originated 6.0% denied

THE FEDERAL SAVINGS BANK

CHICAGO, IL

20,656 apps 8,146 originated 9.3% denied
Compare First State Bank vs GUARANTEED RATE, INC. →

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

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Frequently Asked Questions

How many mortgage applications did First State Bank process?
First State Bank processed 461 mortgage applications in the 2023 HMDA reporting year. Of these, 384 were originated (approved and funded), 28 were withdrawn by the applicant, and 39 were denied.
What is First State Bank's mortgage approval rate?
First State Bank has an approval (origination) rate of 83.3%, meaning 83.3% of all applications resulted in a funded mortgage. The denial rate is 8.5%.
What is the average loan amount at First State Bank?
The average mortgage loan amount at First State Bank is $211,876. The average interest rate is 7.401%. The average applicant income is $33,000.
What are the most common reasons for mortgage denial at First State Bank?
The most common reasons for mortgage denial at First State Bank are: Debt-to-income ratio, Credit history, Unverifiable information. In total, 39 applications were denied out of 461 total applications.
What types of mortgage loans does First State Bank offer?
First State Bank processes Conventional loans. The most common type is Conventional with 461 applications and an average loan amount of $211,876.
What loan purposes does First State Bank serve?
First State Bank serves the following loan purposes: Home Purchase (289 applications), Refinancing (83 applications), Other (51 applications), Home Improvement (29 applications), Cash-out Refinancing (9 applications). Home Purchase is the most common purpose.
Where is First State Bank located?
First State Bank is headquartered in Mendota, IL. The lender is identified by LEI 549300CQG2T7TCGY8Q67 in HMDA data.
How does First State Bank compare in lending across racial demographics?
First State Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 81.8% and denial rate of 9.9%; Asian applicants have an approval rate of 81.8% and denial rate of 9.1%; American Indian or Alaska Native applicants have an approval rate of 50.0% and denial rate of 50.0%. 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.