Applications / Mortgage Analytics / Lenders / Iowa / South Story Bank & Trust
Slater, IA · State non-member bank · FDIC · $611 million assets · 106 loans in 2025
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106
loans originated, 2025
114
applications, 2025
9
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
South Story Bank & Trust, an Iowa bank that lends mostly to home buyers, grew its lending by nearly half in 2025 and began lending in Michigan and Wyoming.
Its loans rose 47% to 106, faster than about nine in ten similar lenders: state non-member banks making between half and twice as many loans, whose typical growth was 9%. Its lending total rose to $38.2 million from $26.3 million, in step with the count. It now lends in 9 states, and non-metro Michigan, non-metro Wyoming and Detroit-Warren-Dearborn were all new in 2025.
Home purchases made up 83.0% of its loans. Its typical loan, $305,000, was larger than at nearly nine in ten similar lenders, whose typical loan was $175,000. Loans above the conforming limit (jumbo loans) were 7.4% of the total, against 1.6%.
Its share of lending in Ames rose to 1.6% from 1.3%, placing it 18 of 189 lenders, behind Iowa Bankers Mortgage and Northwest Bank. In Des Moines-West Des Moines its share held at 0.2%.
Low- and moderate-income borrowers took 35.8% of its loans, more than at about three-quarters of similar lenders. Yet only 6.6% of its loans went to such neighborhoods, against 18.3%, among the lowest tenth. One possibility is that the places it lends hold few such neighborhoods.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted.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. South Story Bank & Trust took 114 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Purchase 83.0% · Refinance 11.3% · Home improvement 2.8% · Other 2.8%
Conventional 100.0% · of 106 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 | 64 | 60.4% |
| Minnesota | 34 | 32.1% |
| Michigan | 2 | 1.9% |
| Arizona | 1 | 0.9% |
| Colorado | 1 | 0.9% |
| Florida | 1 | 0.9% |
| North Dakota | 1 | 0.9% |
| Wisconsin | 1 | 0.9% |
| Wyoming | 1 | 0.9% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Ames | 31 |
| Minneapolis-St. Paul-Bloomington | 29 |
| Des Moines-West Des Moines | 26 |
| Bismarck | 1 |
| Prescott Valley-Prescott | 1 |
| Sioux City | 1 |
| Warren-Troy-Farmington Hills | 1 |
| West Palm Beach-Boca Raton-Delray Beach | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 254900DJ8WC0BQHYR275 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 542340 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 317348 | 2004–2017 |
Established 1 September 1954. Reported under HMDA 2004-2025.
Mergers, name changes, data editions and corrections: South Story Bank & Trust's data.
South Story Bank & Trust's data
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