First State Bank Southwest at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the A grade breaks down
Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
95th0.8% deniedProcesswithdrawn + incomplete share, weight 15%
81st4.4%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 135 | 124 | 2.2% | 2.3% | — | $19M |
| 2024 | 137 | 129 | 3.7% | 3.7% | — | $27M |
| 2025 | 135 | 125 | 0.7% | 0.8% | — | $27M |
What First State Bank Southwest 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: 0 home-equity lines, 0 reverse mortgages, 1 manufactured homes, 26 investment properties.
Who gets approved at First State Bank Southwest
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| $50k – $100k | 56 | 52 | 1.9% |
| $100k – $150k | 34 | 30 | 0.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 23 | 22 | 0.0% |
| 25–34 | 29 | 26 | 0.0% |
| 35–44 | 37 | 34 | 0.0% |
Where First State Bank Southwest lends
4 states and 18 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| Minnesota | 102 | 96 | 1.0% | — | #205 |
| South Dakota | 22 | 18 | 0.0% | — | #101 |
| Iowa | 8 | 8 | 0.0% | — | #377 |
Frequently asked questions
First State Bank Southwest denied 0.8% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 95th percentile of small mortgage lenders.
In 2025, 79% of its applications were for home purchases, 16% for refinancing (including cash-out), and 6% for home improvement or other purposes. By loan type: 96% conventional, 0% FHA, 0% 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.