Applications / Mortgage Analytics / Lenders / Iowa / Bank Midwest
Spirit Lake, IA · State member bank · FRS · $1.3 billion assets · 143 loans in 2025
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143
loans originated, 2025
179
applications, 2025
3
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Bank Midwest grew its loans 39% in 2025, faster than most similar lenders, and gained ground in Sioux Falls, MN-SD and Mankato, MN.
It made 143 loans, up 39% from 103, faster than about six in seven similar lenders (state member banks making between half and twice as many loans), which grew 8%; the whole market grew 10%. Its dollar total roughly doubled, to $80.6 million from $39.1 million, while its typical loan rose only to $185,000, which may reflect some larger loans. Purchases made up 79.0% of its lending.
In Sioux Falls, MN-SD its share rose to 0.7% from 0.1%, ranking 36 of 204 lenders; Plains Commerce Bank leads. In Mankato, MN it rose to 0.6% from 0.2%, ranking 28 of 180. It has lent in both since 2016.
Low- and moderate-income (LMI) borrowers took 43.1% of its loans, up from 19.3% in 2020. At similar lenders the share was 27.3%, and it was higher than at more than nine in ten.
Its 143 loans remain well below the 534 it made in 2020 and the 457 in 2021. It fell as low as 103 in 2024.
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Bank Midwest took 179 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 79.0% · Refinance 16.1% · Home improvement 3.5% · Other 1.4%
Conventional 97.9% · USDA (RHS or FSA) 2.1% · of 143 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
| State | Loans | Share |
|---|---|---|
| Minnesota | 115 | 80.4% |
| Iowa | 23 | 16.1% |
| South Dakota | 5 | 3.5% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Minneapolis-St. Paul-Bloomington | 8 |
| Mankato | 7 |
| Sioux Falls | 5 |
| Des Moines-West Des Moines | 2 |
| Fargo | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300USNPUCH96WTF23 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 45551 | 2016–2023 |
| Respondent ID (the HMDA filer code before 2018) | 245551 | 2016–2017 |
Established 1 January 1887. Reported under HMDA 2016-2025.
Mergers, name changes, data editions and corrections: Bank Midwest's data.
Bank Midwest's data
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