A fixture in Waterloo-Cedar Falls
Its share of Waterloo-Cedar Falls lending rose to 2.7% from 2.5%. Two credit unions, Veridian Credit Union and GreenState Credit Union, lead the market.
Applications / Mortgage Analytics / Lenders / Iowa / First Bank
First Bank
Waverly, IA · State member bank · FRS · $730 million assets · 162 loans in 2025
First Bank's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
162
loans originated, 2025
181
applications, 2025
5
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
First Bank ranks seventh of 168 lenders in Waterloo-Cedar Falls, IA, where it has lent since at least 1990, and its share there edged up in 2025.
Growth near the middle
It made 162 loans, up 10% from 147, against 8% at similar lenders (state member banks making between half and twice as many loans) and 10% for the whole market. It peaked at 247 loans in 2022 and fell to 141 the next year.
Larger loans, still smaller than rivals'
Its typical loan was $140,000, up from $65,000 in 2020. That is still smaller than at about three in four similar lenders, where it was $180,000. Purchases made up 54.9% of its loans, refinances 29.0% and home improvement 13.6%.
More LMI borrowers
Low- and moderate-income (LMI) borrowers took 34.1% of its loans, against 27.7% at similar lenders, higher than at about three in four of them.
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
162 loans in 2025, against a peak of 247 in 2022.
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. First Bank took 181 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
54.9% of its 2025 loans were purchase loans; all were conventional loans.
Purchase 54.9% · Refinance 29.0% · Home improvement 13.6% · Other 2.5%
Conventional 100.0% · of 162 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
5 states, 5 metros, 22 counties
| State | Loans | Share |
|---|---|---|
| Iowa | 157 | 96.9% |
| Minnesota | 2 | 1.2% |
| Florida | 1 | 0.6% |
| Missouri | 1 | 0.6% |
| Nebraska | 1 | 0.6% |
Largest metro areas, 2025
Loans originated
| Metro area | Loans |
|---|---|
| Waterloo-Cedar Falls | 98 |
| Ames | 2 |
| Des Moines-West Des Moines | 2 |
| North Port-Bradenton-Sarasota | 1 |
| Rochester | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300CWJ74FF73VDL12 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 376442 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 13105 | 1990–2017 |
Established 1 January 1864. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: First Bank's data.
The data and the software behind these pages
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First Bank and its peers, 2018–2025: every application in the HMDA data, cleaned and corrected, as Parquet files, with the Jenner programs that made these pages.
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