Applications / Mortgage Analytics / Lenders / Iowa / Union State Bank
Winterset, IA · State non-member bank · FDIC · $136 million assets · 40 loans in 2025
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40
loans originated, 2025
54
applications, 2025
2
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Union State Bank, a small Iowa lender, made half its loans to low- and moderate-income borrowers, a far larger share than similar banks.
Low- and moderate-income borrowers took 50.0% of its 40 loans in 2025, against 27.1% at similar lenders (state non-member banks making between half and twice as many loans), higher than about nine in ten. Half its loans were also in low- and moderate-income neighborhoods, against 19.0%. On 40 loans, a few borrowers move these shares a long way.
Refinances made up 40.0% of its loans and purchases 27.5%, with home improvement and other purposes taking the rest. Every loan was conventional. Its typical loan was $130,000, below the $165,000 at similar lenders; a book weighted toward refinances and repairs may explain the gap.
In Des Moines-West Des Moines it ranked 109 of 396 lenders with 0.1% of the market, unchanged from 2024. GreenState Credit Union led there with $652.8M. It has lent in the area since its first report in 2004.
Its loans rose 5%, from 38 to 40, close to the 2% at similar lenders. It made 93 loans in 2018. It filed no reports for 2020 to 2022; those years are gaps, not zeros.
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Originated means the loan was made: applications denied, withdrawn or not accepted are not counted.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. Union State Bank took 54 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
Refinance 40.0% · Purchase 27.5% · Home improvement 17.5% · Other 15.0%
Conventional 100.0% · of 40 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 | 39 | 97.5% |
| New Jersey | 1 | 2.5% |
Largest metro areas, 2025
| Metro area | Loans |
|---|---|
| Des Moines-West Des Moines | 36 |
| Lakewood-New Brunswick | 1 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 254900SKRYMF38M2P535 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 148340 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 314982 | 2004–2017 |
Established 2 January 1935. Reported under HMDA 2004-2025.
Mergers, name changes, data editions and corrections: Union State Bank's data.
Union State Bank's data
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