# Midland States Bank

> **Canonical URL:** https://saferate.com/lenders/midland-states-bank


> **📋 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


Midland States Bank is a bank, headquartered in Effingham, IL, serving borrowers across 9 states, with 505 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 62% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 46% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300U6DW7DX671T306
- **Headquarters:** Effingham, IL
- **Geographic Reach:** Multi-Region
- **States Served:** 9
- **State List:** AR, AZ, FL, IL, IN, MO, TN, TX, WI
- **Markets (MSAs):** 8
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Acceptable 🙂
- Score: 38/100
- Rating: ●●○○○ (2/5)

### Pull Through: Sound ☺️
- Score: 54/100
- Rating: ●●●○○ (3/5)

### Pricing Details
- **Average Rate Spread:** +0.659%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $1,445
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 505
- **Dollar Volume:** $100 million
- **Applications Received:** 723
- **Market Share:** 1.00%

## Typical Borrower Profile

- **Average Loan Amount:** $197,990
- **Average Borrower Income:** $97,552
- **Average Property Value:** $245,693

## Safe Rate Awards 🏆

- ⭐ **FHA Gold Superstar** (63%)

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 71/100 | 415 | +0.646% | $1,449 | Strong 😀 |
| FHA | 68/100 | 67 | +0.851% | $1,304 | Strong 😀 |
| USDA | 73/100 | 15 | +0.569% | $1,251 | Strong 😀 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 374 loans, Score: 70/100 (Strong)
- Refinance: 41 loans, Score: 61/100 (Strong)

**FHA:**
- Purchase: 65 loans, Score: 68/100 (Strong)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 70/100 | 462 | $93M | +0.662% | Strong 😀 |
| Refinance | 60/100 | 43 | $7M | +0.633% | Strong 😀 |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| IL | 426 | 0.34% | 81/100 |
| MO | 68 | 0.09% | 59/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Non |  | 103 | 55/100 |
| St. Louis, MO | MO-IL | 84 | 68/100 |
| Chicago | IL | 82 | 64/100 |
| Champaign | IL | 62 | 77/100 |
| Kankakee, IL | IL | 62 | 100/100 |
| Rockford, IL | IL | 55 | 70/100 |
| Elgin, IL | IL | 29 | 59/100 |
| Lake County, IL | IL | 11 | 45/100 |

## Where This Lender Ranks

Midland States Bank appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥇 **#1** in Champaign for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/champaign/best-mortgage-lenders/banks/fha-loans)
- 🥇 **#1** in Kankakee, IL for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/kankakee-il/best-mortgage-lenders/banks/fha-loans)
- 🥈 **#2** in Rockford, IL for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/rockford-il/best-mortgage-lenders/banks/fha-loans)
- 🥉 **#3** in Kankakee, IL Banks
  - [View Full Rankings](https://saferate.com/kankakee-il/best-mortgage-lenders/banks)
- 🏆 **#4** in Kankakee, IL for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/kankakee-il/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#4** in Kankakee, IL for FHA Loans
  - [View Full Rankings](https://saferate.com/kankakee-il/best-mortgage-lenders/fha-loans)
- 🏆 **#5** in Champaign Banks
  - [View Full Rankings](https://saferate.com/champaign/best-mortgage-lenders/banks)
- 🏆 **#7** in Champaign for FHA Loans
  - [View Full Rankings](https://saferate.com/champaign/best-mortgage-lenders/fha-loans)
- 🏆 **#8** in Kankakee, IL
  - [View Full Rankings](https://saferate.com/kankakee-il/best-mortgage-lenders)
- 🏆 **#8** in Rockford, IL for FHA Loans
  - [View Full Rankings](https://saferate.com/rockford-il/best-mortgage-lenders/fha-loans)
- 🏆 **#9** in Illinois for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/illinois/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#9** in Kankakee, IL for Conventional Loans
  - [View Full Rankings](https://saferate.com/kankakee-il/best-mortgage-lenders/conventional-loans)
- 🏆 **#10** in Illinois for USDA Loans (Banks)
  - [View Full Rankings](https://saferate.com/illinois/best-mortgage-lenders/banks/usda-loans)
- 🏆 **#10** in Champaign for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/champaign/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#12** in Rockford, IL Banks
  - [View Full Rankings](https://saferate.com/rockford-il/best-mortgage-lenders/banks)
- 🏆 **#14** in Champaign
  - [View Full Rankings](https://saferate.com/champaign/best-mortgage-lenders)
- 🏆 **#15** in St. Louis, MO for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/st-louis-mo/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#16** in Rockford, IL for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/rockford-il/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#17** in Elgin, IL for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/elgin-il/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#18** in Elgin, IL Banks
  - [View Full Rankings](https://saferate.com/elgin-il/best-mortgage-lenders/banks)

## Frequently Asked Questions

### What loan types does Midland States Bank offer?

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

### Where does Midland States Bank offer mortgages?

Midland States Bank offers mortgages in 9 states: AR, AZ, FL, IL, IN, MO, TN, TX, WI.

### How competitive are Midland States Bank's mortgage rates?

Midland States Bank has a pricing score of 38/100 (Acceptable), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.659% above market average.

### What type of lender is Midland States Bank?

Midland States Bank is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Effingham, IL.

### What is Midland States Bank's loan approval success rate?

Midland States Bank has a pull-through score of 54/100 (Sound). 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/midland-states-bank

### How to Cite

> "Midland States Bank Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/midland-states-bank

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