First Federal Savings And Loan Association Of Bath Mortgage Rates, Fees & Info

Bath, ME

LEI: 2549002U96ZPEAFKGZ11

Tax ID: 01-0026062

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    First Federal Savings And Loan Association Of Bath is a smaller mortgage company specializing in Home Purchase and Refi loans. First Federal Savings And Loan Association Of Bath has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Augusta, Lewiston, and Bangor among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Federal Savings And Loan Association Of Bath has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    113

    Origination Dollar Volume (All Markets)

    $19,665,000

    Employee count

    34

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 54 $9,710,000 $179,815 $0 0.00%
    Outside of Metro Areas 55 $9,295,000 $169,000 $0 0.00%
    Augusta-Waterville, ME (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    BANGOR, ME (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    First Federal Savings And Loan Association Of Bath's top markets include Portland, Augusta, Lewiston, and Bangor among others.

    Their top states include:
  • Maine (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 113 $19,665,000 $174,027 $0 0.00%

    For 2020, First Federal Savings And Loan Association Of Bath's most frequently originated type of loan was Conventional, with 113 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 66 $11,340,000 $171,818 $0 0.00%
    Refi 43 $7,825,000 $181,977 $0 0.00%
    Home Improvement 2 $310,000 $155,000 $0 0.00%
    Other 2 $190,000 $95,000 $0 0.00%

    For 2020, First Federal Savings And Loan Association Of Bath's most frequently cited loan purpose was Home Purchase, with 66 originations. The 2nd most popular reason was Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 113 $19,665,000 $174,027 $0 0.00%

    For 2020, First Federal Savings And Loan Association Of Bath's most frequently cited loan duration was Other, with 113 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 46 $6,690,000 $145,435 $0 0.00%
    $100,000 or less 37 $2,555,000 $69,054 $0 0.00%
    $200k-400k 22 $5,830,000 $265,000 $0 0.00%
    $400k-600k 5 $2,375,000 $475,000 $0 0.00%
    $600k-1MM 3 $2,215,000 $738,333 $0 0.00%

    2020 saw First Federal Savings And Loan Association Of Bath place emphasis on $100k-200k loans with 46 originations, totaling $6,690,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 35 $5,145,000 $147,000 $0 0.00%
    $50k or less 25 $2,425,000 $97,000 $0 0.00%
    $75k-100k 24 $4,140,000 $172,500 $0 0.00%
    $100k-150k 14 $3,350,000 $239,286 $0 0.00%
    $150k-250k 8 $2,090,000 $261,250 $0 0.00%
    $250k+ 6 $1,600,000 $266,667 $0 0.00%

    First Federal Savings And Loan Association Of Bath lent most frequently to those with incomes in the $50k-75k range, with 35 originations. The second most popular income band? $50k or less, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 113 $19,665,000 $174,027 $0 0.00%

    First Federal Savings And Loan Association Of Bath lent most frequently to those with DTI ratios of Exempt%, with 113 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 111 $18,665,000 $168,153 $0 0.00%
    Not applicable 1 $915,000 $915,000 $0 0.00%
    Black 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.10%

    First Federal Savings And Loan Association Of Bath has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    81.42%

    First Federal Savings And Loan Association Of Bath has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 113 $19,665,000 $174,027

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,600,000 $800,000
    Single Family (1-4 Units):Manufactured 23 $2,395,000 $104,130
    Single Family (1-4 Units):Site-Built 88 $15,670,000 $178,068

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRST NATIONAL BANK OF OMAHA FHA mortgage Struggling to pay mortgage 1 14.3%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Trouble during payment process 2 28.6%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Struggling to pay mortgage 2 28.6%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    FIRST NATIONAL BANK OF OMAHA Other type of mortgage Trouble during payment process 1 14.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Federal Savings and Loan Association of Bath 125 Front St Bath, ME 4530 Full Service B&M $51,869
    First Federal Savings and Loan Association of Bath 238 Main Street Damariscotta, ME 4543 Full Service B&M $19,641
    First Federal Savings and Loan Association of Bath 41 Townsend Avenue Boothbay Harbor, ME 4538 Full Service B&M $29,594
    First Federal Savings and Loan Association of Bath 55 Congress Avenue Bath, ME 4530 Full Service B&M $17,219
    First Federal Savings and Loan Association of Bath 695 Bath Road Wiscasset, ME 4578 Full Service B&M $5,321

    For 2020, First Federal Savings And Loan Association Of Bath had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,084
    Net interest income $5,510
    Total noninterest income $440
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $346
    Trading account gains and fees $0
    Additional Noninterest Income $94
    Pre-tax net operating income $979
    Securities gains (or losses, -) $0
    Income before extraordinary items $746
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $746
    Minority interest net income $0
    Net income $746
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $746

    First Federal Savings And Loan Association Of Bath's gross interest income from loans was $6,084,000.
    First Federal Savings And Loan Association Of Bath's net interest income from loans was $5,510,000.
    First Federal Savings And Loan Association Of Bath's fee based income from loans was $346,000.
    First Federal Savings And Loan Association Of Bath's net income from loans was $746,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $574
    Provision for credit losses $258
    Total noninterest expense $4,713
    Salaries and employee benefits $2,600
    Premises and equipment expense $806
    Additional noninterest expense $1,307
    Applicable income taxes $233
    Net charge-offs $74
    Cash dividends $0

    First Federal Savings And Loan Association Of Bath's interest expense for loans was $574,000.
    First Federal Savings And Loan Association Of Bath's payroll and benefits expense were $2,600,000.
    First Federal Savings And Loan Association Of Bath's property, plant and equipment expenses $806,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 7.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 12.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $134,991
    Deposits held in domestic offices $134,991
    Deposits by Individuals, partnerships, and corporations $134,788
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $203
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $47,149
    Demand deposits $9,436
    Nontransaction accounts $87,842
    Money market deposit accounts (MMDAs) $10,451
    Other savings deposits (excluding MMDAs) $43,457
    Total time deposits $33,933
    Total time and savings deposits $125,555
    Noninterest-bearing deposits $9,358
    Interest-bearing deposits $125,633
    Retail deposits $128,950
    IRAs and Keogh plan accounts $10,060
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $160,366
    Cash & Balances due from depository institutions $35,632
    Interest-bearing balances $34,611
    Total securities $5,723
    Federal funds sold & reverse repurchase $0
    Net loans and leases $111,844
    Loan and leases loss allowance $1,624
    Trading account assets $0
    Bank premises and fixed assets $2,055
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $5,112

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $160,366
    Total Liabilities $137,031
    Total deposits $134,991
    Interest-bearing deposits $125,633
    Deposits held in domestic offices $134,991
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,040

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $111,844
    Loan and leases loss allowance $1,624
    Total loans and leases (domestic) $113,468
    All real estate loans $110,116
    Real estate loans in domestic offices $110,116
    Construction and development loans $2,008
    Residential 1-4 family construction $757
    Other construction, all land development and other land $1,251
    Loans secured by nonfarm nonresidential properties $6,160
    Nonfarm nonresidential secured by owner-occupied properties $5,430
    Commercial real estate & other non-farm, non-residential $730
    Multifamily residential real estate $759
    1-4 family residential loans $101,189
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,826
    To non-U.S. addressees $0
    Loans to individuals $1,526
    Credit card loans $0
    Related Plans $3
    Consumer Auto Loans $81
    Other loans to individuals $1,442
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $3,272
    Non 1-4 family restructured loans & leases $301
    Total loans and leases (foreign) $0

    First Federal Savings and Loan Association of Bath had $111,844,000 of loans outstanding in 2020. $110,116,000 of loans were in real estate loans. $2,008,000 of loans were in development loans. $759,000 of loans were in multifamily mortgage loans. $101,189,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $81,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 36 $5,985 $166,250
    Nonfarm, nonresidential loans - <$100k 12 $425 $35,417
    Nonfarm, nonresidential loans - $100-250k 15 $1,573 $104,867
    Nonfarm, nonresidential loans - $250k-1MM 9 $3,987 $443,000
    Commercial & Industrial, US addressed loans - <$1MM 65 $1,811 $27,862
    Commercial & Industrial, US addressed loans - <$100k 57 $790 $13,860
    Commercial & Industrial, US addressed loans - $100-250k 8 $1,021 $127,625