# First Bank & Trust

> **Canonical URL:** https://saferate.com/lenders/first-bank-trust


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


First Bank & Trust is a bank, headquartered in Brookings, SD, serving borrowers across 16 states, with 698 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 41% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 35% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300IQ5NY7CSJLZW53
- **Headquarters:** Brookings, SD
- **Geographic Reach:** Multi-Region
- **States Served:** 16
- **State List:** AZ, CA, CO, FL, IA, IL, MI, MN, MO, MT, ND, NE, OK, SD, WI, WY
- **Markets (MSAs):** 3
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 99.9%
- **Brokered/Wholesale:** 0.1%

## Safe Rate Ratings

### Pricing: Sound ☺️
- Score: 59/100
- Rating: ●●●○○ (3/5)

### Pull Through: Strong 😀
- Score: 65/100
- Rating: ●●●●○ (4/5)

### Pricing Details
- **Average Rate Spread:** -0.129%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $2,818
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 698
- **Dollar Volume:** $203 million
- **Applications Received:** 1,051
- **Market Share:** 2.00%

## Typical Borrower Profile

- **Average Loan Amount:** $291,218
- **Average Borrower Income:** $139,278
- **Average Property Value:** $391,562

## Safe Rate Awards 🏆

- ⭐ **Conventional Gold Superstar** (63%)
- ⭐ **FHA Gold Superstar** (78%)
- ⭐ **VA Gold Superstar** (70%)
- ⭐ **Refinance Gold Superstar** (63%)

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 72/100 | 522 | -0.112% | $3,023 | Strong 😀 |
| FHA | 72/100 | 113 | +0.012% | $2,078 | Strong 😀 |
| VA | 69/100 | 38 | -0.659% | $2,618 | Strong 😀 |
| USDA | 77/100 | 21 | -0.403% | $895 | Strong 😀 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 464 loans, Score: 72/100 (Strong)
- Refinance: 58 loans, Score: 62/100 (Strong)

**FHA:**
- Purchase: 110 loans, Score: 72/100 (Strong)

**VA:**
- Purchase: 37 loans, Score: 69/100 (Strong)

**USDA:**
- Purchase: 21 loans, Score: 77/100 (Strong)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 74/100 | 636 | $190M | -0.125% | Strong 😀 |
| Refinance | 62/100 | 62 | $14M | -0.166% | Strong 😀 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| SD | 550 | 6.18% | 94/100 |
| MN | 124 | 0.19% | 67/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Non |  | 316 | 70/100 |
| Sioux Falls, SD | SD-MN | 297 | 90/100 |
| Minneapolis | MN-WI | 62 | 60/100 |

## Where This Lender Ranks

First Bank & Trust appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥇 **#1** in South Dakota for FHA Loans
  - [View Full Rankings](https://saferate.com/south-dakota/best-mortgage-lenders/fha-loans)
- 🥇 **#1** in South Dakota for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/south-dakota/best-mortgage-lenders/banks/fha-loans)
- 🥇 **#1** in Sioux Falls, SD for FHA Loans
  - [View Full Rankings](https://saferate.com/sioux-falls-sd/best-mortgage-lenders/fha-loans)
- 🥇 **#1** in Sioux Falls, SD for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/sioux-falls-sd/best-mortgage-lenders/banks/fha-loans)
- 🥈 **#2** in South Dakota for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/south-dakota/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Sioux Falls, SD for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/sioux-falls-sd/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Sioux Falls, SD for USDA Loans
  - [View Full Rankings](https://saferate.com/sioux-falls-sd/best-mortgage-lenders/usda-loans)
- 🥈 **#2** in Sioux Falls, SD for USDA Loans (Banks)
  - [View Full Rankings](https://saferate.com/sioux-falls-sd/best-mortgage-lenders/banks/usda-loans)
- 🏆 **#4** in South Dakota for VA Loans
  - [View Full Rankings](https://saferate.com/south-dakota/best-mortgage-lenders/va-loans)
- 🏆 **#4** in South Dakota for USDA Loans
  - [View Full Rankings](https://saferate.com/south-dakota/best-mortgage-lenders/usda-loans)
- 🏆 **#4** in South Dakota for USDA Loans (Banks)
  - [View Full Rankings](https://saferate.com/south-dakota/best-mortgage-lenders/banks/usda-loans)
- 🏆 **#4** in Sioux Falls, SD for VA Loans
  - [View Full Rankings](https://saferate.com/sioux-falls-sd/best-mortgage-lenders/va-loans)
- 🏆 **#7** in South Dakota for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/south-dakota/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#7** in Sioux Falls, SD Banks
  - [View Full Rankings](https://saferate.com/sioux-falls-sd/best-mortgage-lenders/banks)
- 🏆 **#7** in Sioux Falls, SD for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/sioux-falls-sd/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#9** in South Dakota Banks
  - [View Full Rankings](https://saferate.com/south-dakota/best-mortgage-lenders/banks)
- 🏆 **#9** in South Dakota for Conventional Loans
  - [View Full Rankings](https://saferate.com/south-dakota/best-mortgage-lenders/conventional-loans)
- 🏆 **#9** in Sioux Falls, SD
  - [View Full Rankings](https://saferate.com/sioux-falls-sd/best-mortgage-lenders)
- 🏆 **#9** in Sioux Falls, SD for Conventional Loans
  - [View Full Rankings](https://saferate.com/sioux-falls-sd/best-mortgage-lenders/conventional-loans)
- 🏆 **#11** in South Dakota
  - [View Full Rankings](https://saferate.com/south-dakota/best-mortgage-lenders)

## Frequently Asked Questions

### What loan types does First Bank & Trust offer?

First Bank & Trust offers the following mortgage loan types: FHA, Conventional, VA, USDA. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does First Bank & Trust offer mortgages?

First Bank & Trust offers mortgages in 16 states: AZ, CA, CO, FL, IA, IL, MI, MN, MO, MT, ND, NE, OK, SD, WI, WY.

### How competitive are First Bank & Trust's mortgage rates?

First Bank & Trust has a pricing score of 59/100 (Sound), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.129% below market average.

### What type of lender is First Bank & Trust?

First Bank & Trust is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Brookings, SD.

### What is First Bank & Trust's loan approval success rate?

First Bank & Trust has a pull-through score of 65/100 (Strong). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/first-bank-trust

### How to Cite

> "First Bank & Trust Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/first-bank-trust

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