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 and Refi loans. First Security Bank has a high proportion of conventional loans. Their top markets by origination volume include: Memphis, Oxford, Crestview, Starkville, and Washington among others. We have data for 10 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 an above average pick rate when compared to similar lenders.

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Originations

276

Origination Dollar Volume (All Markets)

$50,300,000

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) 162 $29,930,000 $184,753 $0 0.00%
Outside of Metro Areas 92 $8,870,000 $96,413 $0 0.00%
Oxford, MS (FHA|USDA|VA) 12 $8,660,000 $721,667 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $1,500,000 $750,000 $0 0.00%
Starkville, MS (FHA|USDA|VA) 2 $580,000 $290,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
JACKSON, MS (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
HATTIESBURG, MS (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Tupelo, MS (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Clarksdale, MS (FHA|USDA|VA) 2 $80,000 $40,000 $0 0.00%
First Security Bank's top markets include Memphis, Oxford, Crestview, Starkville, and Washington among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 276 $50,300,000 $182,246 $0 0.00%

    For 2022, First Security Bank's most frequently originated type of loan was Conventional, with 276 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 165 $33,635,000 $203,848 $0 0.00%
    Refi 56 $11,750,000 $209,821 $0 0.00%
    Home Improvement 29 $2,065,000 $71,207 $0 0.00%
    Other 26 $2,850,000 $109,615 $0 0.00%

    For 2022, First Security Bank's most frequently cited loan purpose was Home Purchase, with 165 originations. The 2nd most popular reason was Refi, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 276 $50,300,000 $182,246 $0 0.00%

    For 2022, First Security Bank's most frequently cited loan duration was Other, with 276 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 109 $5,695,000 $52,248 $0 0.00%
    $100k-200k 102 $14,830,000 $145,392 $0 0.00%
    $200k-400k 46 $12,880,000 $280,000 $0 0.00%
    $400k-600k 10 $4,610,000 $461,000 $0 0.00%
    $600k-1MM 5 $3,595,000 $719,000 $0 0.00%
    $1MM+ 4 $8,690,000 $2,172,500 $0 0.00%

    2022 saw First Security Bank place emphasis on $100,000 or less loans with 109 originations, totaling $5,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 45 $7,445,000 $165,444 $0 0.00%
    $50k or less 39 $2,225,000 $57,051 $0 0.00%
    $150k-250k 37 $7,965,000 $215,270 $0 0.00%
    $50k-75k 33 $3,055,000 $92,576 $0 0.00%
    $75k-100k 28 $3,570,000 $127,500 $0 0.00%
    $250k+ 23 $7,685,000 $334,130 $0 0.00%

    First Security Bank lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $50k or less, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 276 $50,300,000 $182,246 $0 0.00%

    First Security Bank lent most frequently to those with DTI ratios of Exempt%, with 276 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 174 $27,890,000 $160,287 $0 0.00%
    Not applicable 59 $17,005,000 $288,220 $0 0.00%
    Black 34 $3,050,000 $89,706 $0 0.00%
    Asian 8 $1,950,000 $243,750 $0 0.00%
    Asian Indian 1 $405,000 $405,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.07%

    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
    93.84%

    First Security Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 276 $50,300,000 $182,246

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    276 $50,300,000 $182,246

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%