First Bank & Trust at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the C grade breaks down
Each component is a percentile rank among 581 mid-size mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
35th14.9% deniedPricingmedian rate spread over APOR, weight 30%
64th0.18 ptsProcesswithdrawn + incomplete share, weight 15%
49th17.2%Closing coststotal loan costs ÷ loan amount, weight 10%
30th2.83% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 1,912 | 1,329 | 11.9% | 14.4% | 6.63% | $336M |
| 2024 | 1,951 | 1,358 | 12.6% | 15.2% | 6.88% | $290M |
| 2025 | 1,868 | 1,306 | 12.4% | 14.9% | 6.63% | $283M |
What First Bank & Trust lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 468 home-equity lines, 0 reverse mortgages, 8 manufactured homes, 141 investment properties.
Why First Bank & Trust denies applications
Primary reason reported for each of the 231 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at First Bank & Trust
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 190 | 98 | 36.4% |
| $50k – $100k | 586 | 419 | 14.3% |
| $100k – $150k | 375 | 271 | 9.3% |
| $150k – $250k | 312 | 235 | 6.0% |
| Over $250k | 201 | 156 | 1.9% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 124 | 82 | 21.2% |
| 25–34 | 415 | 289 | 13.7% |
| 35–44 | 416 | 285 | 15.5% |
| 45–54 | 327 | 234 | 13.0% |
| 55–64 | 296 | 198 | 18.1% |
| 65–74 | 155 | 112 | 15.8% |
| Over 74 | 58 | 40 | 14.9% |
Where First Bank & Trust lends
16 states and 112 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| South Dakota | 1,320 | 972 | 11.2% | 6.63% | #3 |
| Minnesota | 492 | 302 | 15.2% | 7.00% | #83 |
| Iowa | 26 | 12 | 26.9% | 6.69% | #276 |
| Wisconsin | 11 | 8 | 0.0% | 6.94% | #479 |
Frequently asked questions
First Bank & Trust denied 14.9% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 35th percentile of mid-size mortgage lenders.
The most common reason First Bank & Trust gave in 2025 was "debt-to-income ratio", cited on 62.3% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans First Bank & Trust originated in 2025 was 6.63%, and its median rate spread over the average prime offer rate was 0.18 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 57% of its applications were for home purchases, 18% for refinancing (including cash-out), and 25% for home improvement or other purposes. By loan type: 89% conventional, 8% FHA, 3% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.