Applications / Mortgage Analytics / Lenders / Iowa / Federation Bank
Washington, IA · State non-member bank · FDIC · $154 million assets · 48 loans in 2025
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48
loans originated, 2025
60
applications, 2025
1
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Federation Bank, a small Iowa lender, grew its loans by 37% in 2025, faster than four in five similar banks, and lends more to poorer borrowers than most of them.
It made 48 loans, up from 35. Similar lenders (state non-member banks making between half and twice as many loans) grew by 4%, and the whole market by 10%. It made 111 loans in 2018 and 43 in 2022. It filed no reports for 2020 and 2021, which are a gap in the record.
Home purchase made up 52.1% of its loans and refinancing 27.1%. Its typical loan, $105,000, was smaller than at almost nine in ten similar lenders, whose typical loan was $165,000. Every loan was conventional.
Low- and moderate-income (LMI) borrowers took 37.2% of its loans, against 27.6% at similar lenders, a higher share than at about three in four of them. Some 29.2% of its loans were in LMI neighborhoods, against 18.5% at its peers.
It ranks 25 of 171 lenders in Iowa City, where it has lent since 2004. Its share slipped to 0.3% from 0.4% even as its loans rose. Shares are measured in dollars, so smaller loans (its typical loan fell from $125,000) or more lending outside the metro could explain the gap. GreenState Credit Union and Hills Bank and Trust Company lead the market.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. 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. Federation Bank took 60 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 52.1% · Refinance 27.1% · Home improvement 12.5% · Other 8.3%
Conventional 100.0% · of 48 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 |
|---|---|---|
| Iowa | 48 | 100.0% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Iowa City | 24 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 254900FW2KC6CZHVQW30 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 764142 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 314352 | 2004–2017 |
Established 1 November 1906. Reported under HMDA 2004-2025.
Mergers, name changes, data editions and corrections: Federation Bank's data.
Federation Bank's data
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