First Security Bank Mortgage Rates, Fees & Info

Batesville, MS

LEI: 2549007UK2BZOOSF6C76

Tax ID: 64-0322079

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Mortgage Data

Review & Overview

First Security Bank is a smaller bank specializing in Home Purchase loans. First Security Bank has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Oxford, Crestview, Mobile, and Starkville among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Security Bank 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.

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Originations

173

Origination Dollar Volume (All Markets)

$24,655,000

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
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 101 $14,715,000 $145,693 $0 0.00%
Outside of Metro Areas 57 $5,545,000 $97,281 $0 0.00%
Oxford, MS (FHA|USDA|VA) 6 $2,130,000 $355,000 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $975,000 $975,000 $0 0.00%
MOBILE, AL (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
Starkville, MS (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
Clarksdale, MS (FHA|USDA|VA) 4 $190,000 $47,500 $0 0.00%
Tupelo, MS (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
Grenada, MS (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
First Security Bank's top markets include Memphis, Oxford, Crestview, Mobile, and Starkville among others.

Their top states include:
  • Mississippi (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 173 $24,655,000 $142,514 $0 0.00%

    For 2023, First Security Bank's most frequently originated type of loan was Conventional, with 173 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 111 $19,135,000 $172,387 $0 0.00%
    Refi 29 $3,635,000 $125,345 $0 0.00%
    Home Improvement 23 $1,425,000 $61,957 $0 0.00%
    Other 10 $460,000 $46,000 $0 0.00%

    For 2023, First Security Bank's most frequently cited loan purpose was Home Purchase, with 111 originations. The 2nd most popular reason was Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 173 $24,655,000 $142,514 $0 0.00%

    For 2023, First Security Bank's most frequently cited loan duration was Other, with 173 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 88 $4,740,000 $53,864 $0 0.00%
    $100k-200k 48 $7,010,000 $146,042 $0 0.00%
    $200k-400k 28 $7,730,000 $276,071 $0 0.00%
    $400k-600k 6 $2,650,000 $441,667 $0 0.00%
    $600k-1MM 3 $2,525,000 $841,667 $0 0.00%

    2023 saw First Security Bank place emphasis on $100,000 or less loans with 88 originations, totaling $4,740,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 27 $1,445,000 $53,519 $0 0.00%
    $100k-150k 26 $4,190,000 $161,154 $0 0.00%
    $75k-100k 21 $2,695,000 $128,333 $0 0.00%
    $50k-75k 16 $1,550,000 $96,875 $0 0.00%
    $150k-250k 14 $2,340,000 $167,143 $0 0.00%
    $250k+ 4 $950,000 $237,500 $0 0.00%

    First Security Bank lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $100k-150k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 173 $24,655,000 $142,514 $0 0.00%

    First Security Bank lent most frequently to those with DTI ratios of Exempt%, with 173 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 91 $12,695,000 $139,505 $0 0.00%
    Not applicable 60 $10,670,000 $177,833 $0 0.00%
    Black 21 $1,175,000 $55,952 $0 0.00%
    Asian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.04%

    First Security Bank 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
    87.86%

    First Security Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 173 $24,655,000 $142,514

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    173 $24,655,000 $142,514