First Federal Bank Of Ohio Mortgage Rates, Fees & Info

Galion, OH

LEI: 2549007S3Y4859VJ1444

Tax ID: 34-4239952

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Mortgage Data

Bank Data

Review & Overview

First Federal Bank Of Ohio is a smaller bank specializing in Home Purchase and Cash Out Refi loans. First Federal Bank Of Ohio has a high proportion of conventional loans. Their top markets by origination volume include: Columbus, Mansfield, Sandusky, Bucyrus, and Tiffin among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Federal Bank Of Ohio has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

299

Origination Dollar Volume (All Markets)

$38,135,000

Employee count

60

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
COLUMBUS, OH (FHA|USDA|VA) 71 $9,755,000 $137,394 $0 0.00%
MANSFIELD, OH (FHA|USDA|VA) 68 $8,350,000 $122,794 $0 0.00%
Sandusky, OH (FHA|USDA|VA) 53 $7,465,000 $140,849 $0 0.00%
Bucyrus-Galion, OH (FHA|USDA|VA) 42 $4,180,000 $99,524 $0 0.00%
Tiffin, OH (FHA|USDA|VA) 28 $3,430,000 $122,500 $0 0.00%
TOLEDO, OH (FHA|USDA|VA) 9 $1,685,000 $187,222 $0 0.00%
Fremont, OH (FHA|USDA|VA) 8 $910,000 $113,750 $0 0.00%
Norwalk, OH (FHA|USDA|VA) 5 $585,000 $117,000 $0 0.00%
Mount Vernon, OH (FHA|USDA|VA) 3 $555,000 $185,000 $0 0.00%
Findlay, OH (FHA|USDA|VA) 2 $450,000 $225,000 $0 0.00%
Marion, OH (FHA|USDA|VA) 6 $440,000 $73,333 $0 0.00%
Ashland, OH (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
New Philadelphia-Dover, OH (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
Outside of Metro Areas 1 $25,000 $25,000 $0 0.00%
First Federal Bank Of Ohio's top markets include Columbus, Mansfield, Sandusky, Bucyrus, and Tiffin among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 299 $38,135,000 $127,542 $0 0.00%

    For 2021, First Federal Bank Of Ohio's most frequently originated type of loan was Conventional, with 299 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 134 $18,510,000 $138,134 $0 0.00%
    Cash Out Refi 82 $11,090,000 $135,244 $0 0.00%
    Refi 64 $7,050,000 $110,156 $0 0.00%
    Other 10 $1,160,000 $116,000 $0 0.00%
    Home Improvement 9 $325,000 $36,111 $0 0.00%

    For 2021, First Federal Bank Of Ohio's most frequently cited loan purpose was Home Purchase, with 134 originations. The 2nd most popular reason was Cash Out Refi, with 82 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 299 $38,135,000 $127,542 $0 0.00%

    For 2021, First Federal Bank Of Ohio's most frequently cited loan duration was Other, with 299 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 131 $18,215,000 $139,046 $0 0.00%
    $100,000 or less 125 $7,905,000 $63,240 $0 0.00%
    $200k-400k 36 $8,980,000 $249,444 $0 0.00%
    $400k-600k 7 $3,035,000 $433,571 $0 0.00%

    2021 saw First Federal Bank Of Ohio place emphasis on $100k-200k loans with 131 originations, totaling $18,215,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 97 $8,605,000 $88,711 $0 0.00%
    $50k-75k 67 $7,555,000 $112,761 $0 0.00%
    $75k-100k 56 $8,420,000 $150,357 $0 0.00%
    $100k-150k 54 $8,420,000 $155,926 $0 0.00%
    $150k-250k 19 $4,185,000 $220,263 $0 0.00%
    $250k+ 4 $670,000 $167,500 $0 0.00%

    First Federal Bank Of Ohio lent most frequently to those with incomes in the $50k or less range, with 97 originations. The second most popular income band? $50k-75k, with 67 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 299 $38,135,000 $127,542 $0 0.00%

    First Federal Bank Of Ohio lent most frequently to those with DTI ratios of Exempt%, with 299 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 286 $36,160,000 $126,434 $0 0.00%
    Not provided 6 $1,130,000 $188,333 $0 0.00%
    Black 5 $495,000 $99,000 $0 0.00%
    Asian 2 $350,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.35%

    First Federal Bank Of Ohio has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.31%

    First Federal Bank Of Ohio has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 299 $38,135,000 $127,542

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    299 $38,135,000 $127,542

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST NATIONAL BANK OF OMAHA Other type of mortgage Struggling to pay mortgage 1 25.0%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Trouble during payment process 1 25.0%
    FIRST NATIONAL BANK OF OMAHA FHA mortgage Improper use of your report 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Federal Bank of Ohio 5502 Milan Road Sandusky, OH 44870 Full Service B&M $5,796
    First Federal Bank of Ohio 123 South Marion Street Cardington, OH 43315 Full Service B&M $5,609
    First Federal Bank of Ohio 140 North Columbus Street Galion, OH 44833 Full Service B&M $67,619
    First Federal Bank of Ohio 1495 Lexington Ave Mansfield, OH 44907 Full Service B&M $26,162
    First Federal Bank of Ohio 1748 W Fourth St Mansfield, OH 44906 Full Service B&M $20,198
    First Federal Bank of Ohio 200 Mansfield Avenue Shelby, OH 44875 Full Service B&M $27,442
    First Federal Bank of Ohio 70 N Main St Mount Gilead, OH 43338 Full Service B&M $49,691
    First Federal Bank of Ohio 901 Bucyrus Road Galion, OH 44833 Full Service B&M $17,010

    For 2021, First Federal Bank Of Ohio had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $5,995
    Net interest income $5,061
    Total noninterest income $2,019
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $25
    Trading account gains and fees $0
    Additional Noninterest Income $1,994
    Pre-tax net operating income $-810
    Securities gains (or losses, -) $5
    Income before extraordinary items $-805
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $-805
    Minority interest net income $0
    Net income $-805
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $-810

    First Federal Bank Of Ohio's gross interest income from loans was $5,995,000.
    First Federal Bank Of Ohio's net interest income from loans was $5,061,000.
    First Federal Bank Of Ohio's fee based income from loans was $25,000.
    First Federal Bank Of Ohio's net income from loans was $-805,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $934
    Provision for credit losses $-159
    Total noninterest expense $8,049
    Salaries and employee benefits $3,460
    Premises and equipment expense $1,455
    Additional noninterest expense $3,134
    Applicable income taxes $0
    Net charge-offs $-209
    Cash dividends $0

    First Federal Bank Of Ohio's interest expense for loans was $934,000.
    First Federal Bank Of Ohio's payroll and benefits expense were $3,460,000.
    First Federal Bank Of Ohio's property, plant and equipment expenses $1,455,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    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 $224,197
    Deposits held in domestic offices $224,197
    Deposits by Individuals, partnerships, and corporations $219,730
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $4,467
    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 $87,756
    Demand deposits $10,503
    Nontransaction accounts $136,441
    Money market deposit accounts (MMDAs) $6,739
    Other savings deposits (excluding MMDAs) $97,701
    Total time deposits $32,001
    Total time and savings deposits $213,694
    Noninterest-bearing deposits $46,457
    Interest-bearing deposits $177,740
    Retail deposits $221,184
    IRAs and Keogh plan accounts $8,843
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $268,680
    Cash & Balances due from depository institutions $38,655
    Interest-bearing balances $34,208
    Total securities $103,238
    Federal funds sold & reverse repurchase $0
    Net loans and leases $108,342
    Loan and leases loss allowance $836
    Trading account assets $0
    Bank premises and fixed assets $3,005
    Other real estate owned $0
    Goodwill and other intangibles $501
    All other assets $14,939

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $268,680
    Total Liabilities $231,696
    Total deposits $224,197
    Interest-bearing deposits $177,740
    Deposits held in domestic offices $224,197
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $2,200
    Subordinated debt $0
    All other liabilities $5,299

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $108,342
    Loan and leases loss allowance $836
    Total loans and leases (domestic) $109,178
    All real estate loans $107,257
    Real estate loans in domestic offices $107,257
    Construction and development loans $3,523
    Residential 1-4 family construction $0
    Other construction, all land development and other land $3,523
    Loans secured by nonfarm nonresidential properties $15,443
    Nonfarm nonresidential secured by owner-occupied properties $6,393
    Commercial real estate & other non-farm, non-residential $9,050
    Multifamily residential real estate $6,089
    1-4 family residential loans $80,791
    Farmland loans $1,411
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $190
    To non-U.S. addressees $0
    Loans to individuals $1,731
    Credit card loans $164
    Related Plans $4
    Consumer Auto Loans $1,516
    Other loans to individuals $47
    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 $1,004
    Non 1-4 family restructured loans & leases $1,004
    Total loans and leases (foreign) $0

    First Federal Bank of Ohio had $108,342,000 of loans outstanding in 2021. $107,257,000 of loans were in real estate loans. $3,523,000 of loans were in development loans. $6,089,000 of loans were in multifamily mortgage loans. $80,791,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $164,000 of loans were in credit card loans. $1,516,000 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 45 $2,946 $65,467
    Nonfarm, nonresidential loans - <$100k 22 $457 $20,773
    Nonfarm, nonresidential loans - $100-250k 15 $811 $54,067
    Nonfarm, nonresidential loans - $250k-1MM 8 $1,678 $209,750
    Commercial & Industrial, US addressed loans - <$1MM 19 $190 $10,000
    Commercial & Industrial, US addressed loans - <$100k 19 $190 $10,000
    Farmland loans - <$1MM 10 $1,411 $141,100
    Farmland loans - $100-250k 6 $593 $98,833
    Farmland loans - $250k-1MM 4 $818 $204,500