Small and steady
It made 54 loans in 2025, 4% more than in 2024, close to the 6% at similar lenders (state non-member banks making between half and twice as many loans). It filed no report for 2020 to 2022; it made 64 loans in 2023.
Applications / Mortgage Analytics / Lenders / Iowa / Exchange State Bank
Exchange State Bank
Ames, IA · State non-member bank · FDIC · $146 million assets · 54 loans in 2025
Exchange State Bank's data, $215Buy the data, $2,110Get Jenner, the SAS-compatible software
54
loans originated, 2025
56
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Exchange State Bank, a small Iowa bank centered on Ames, makes smaller loans than its peers and lends heavily to low- and moderate-income (LMI) borrowers.
Smaller loans than peers
Its typical loan was $115,000, against $167,500 at similar lenders, smaller than about four in five of them. Its lending came to $7.4 million, against $16.4 million at the typical peer. Home purchases made up 55.6% of its loans and refinances 38.9%.
Nearly half to modest earners
LMI borrowers took 47.7% of its loans, against 26.9% at peers, higher than at about nine in ten similar lenders. Its share in LMI areas, 18.5%, matched peers'.
A local position in Ames
Ames has been its market since 2004. It ranked 38 of 189 lenders there with 0.6%, down 0.1 points, a change a few loans can make. Iowa Bankers Mortgage led.
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
54 loans in 2025, against a peak of 64 in 2023.
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Years with no HMDA report from this lender are left out: since 2020 a bank making fewer than 100 closed-end loans a year need not report. Exchange State Bank took 56 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
55.6% of its 2025 loans were purchase loans; all were conventional loans.
Purchase 55.6% · Refinance 38.9% · Home improvement 5.6%
Conventional 100.0% · of 54 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
1 state, 2 metros, 10 counties
| State | Loans | Share |
|---|---|---|
| Iowa | 54 | 100.0% |
Largest metro areas, 2025
Loans originated
| Metro area | Loans |
|---|---|
| Ames | 25 |
| Des Moines-West Des Moines | 7 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 254900ORL3AOAHZ46F19 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 805045 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 310132 | 2004–2017 |
Established 1 January 1902. Reported under HMDA 2004-2025.
Mergers, name changes, data editions and corrections: Exchange State Bank's data.
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