First Security Bank & Trust Company Mortgage Rates, Fees & Info
Oklahoma City, OKLEI: 254900KOW652UXXY2V12
Tax ID: 73-0589840
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Mortgage Data
Bank Data
Review & Overview
First Security Bank & Trust Company is a smaller bank specializing in Home Purchase loans. First Security Bank & Trust Company has a high proportion of conventional loans. Their top (well, only) market is Oklahoma City.First Security Bank & Trust Company 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
202Origination Dollar Volume (All Markets)
$16,350,000Employee count
22Top 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 |
|---|---|---|---|---|---|
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 202 | $16,350,000 | $80,941 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 201 | $16,295,000 | $81,070 | $0 | 0.00% |
| HELOC | 1 | $55,000 | $55,000 | n/a | 0.00% |
For 2019, First Security Bank & Trust Company's most frequently originated type of loan was Conventional, with 201 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2019, First Security Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 192 originations. The 2nd most popular reason was Cash Out Refi, with 5 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 202 | $16,350,000 | $80,941 | $0 | 0.00% |
For 2019, First Security Bank & Trust Company's most frequently cited loan duration was Other, with 202 originations.
Loan Sizing
2019 saw First Security Bank & Trust Company place emphasis on $100,000 or less loans with 153 originations, totaling $8,905,000 in origination value.
Applicant Income
First Security Bank & Trust Company lent most frequently to those with incomes in the $75k-100k range, with 5 originations. The second most popular income band? $250k+, with 3 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 202 | $16,350,000 | $80,941 | $0 | 0.00% |
First Security Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 202 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 190 | $15,510,000 | $81,632 | $0 | 0.00% |
| White | 10 | $750,000 | $75,000 | $0 | 0.00% |
| Black | 2 | $90,000 | $45,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications99.65%
First Security Bank & Trust Company has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination60.40%
First Security Bank & Trust Company has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 202 | $16,350,000 | $80,941 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 6 | $1,290,000 | $215,000 |
| Single Family (1-4 Units):Site-Built | 196 | $15,060,000 | $76,837 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | VA mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 3 | 20.0% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 6.7% |
| FIRST HORIZON BANK | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| FIRST HORIZON BANK | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 6.7% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First Security Bank and Trust Company | 1541 North East 23rd Street Oklahoma City, OK 73111 | Full Service B&M | $47,516 |
For 2019, First Security Bank & Trust Company had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $3,010 |
| Net interest income | $2,459 |
| Total noninterest income | $569 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $260 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $309 |
| Pre-tax net operating income | $24 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $24 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $24 |
| Minority interest net income | $0 |
| Net income | $24 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $24 |
First Security Bank & Trust Company's gross interest income from loans was $3,010,000.
First Security Bank & Trust Company's net interest income from loans was $2,459,000.
First Security Bank & Trust Company's fee based income from loans was $260,000.
First Security Bank & Trust Company's net income from loans was $24,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $551 |
| Provision for credit losses | $35 |
| Total noninterest expense | $2,969 |
| Salaries and employee benefits | $1,855 |
| Premises and equipment expense | $266 |
| Additional noninterest expense | $848 |
| Applicable income taxes | $0 |
| Net charge-offs | $47 |
| Cash dividends | $193 |
First Security Bank & Trust Company's interest expense for loans was $551,000.
First Security Bank & Trust Company's payroll and benefits expense were $1,855,000.
First Security Bank & Trust Company's property, plant and equipment expenses $266,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 12.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 3.0% |
| 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 | $50,899 |
| Deposits held in domestic offices | $50,899 |
| Deposits by Individuals, partnerships, and corporations | $38,986 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $7,188 |
| Deposits by Commercial banks and other depository institutions in U.S. | $4,725 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $16,035 |
| Demand deposits | $13,045 |
| Nontransaction accounts | $34,864 |
| Money market deposit accounts (MMDAs) | $1,247 |
| Other savings deposits (excluding MMDAs) | $7,755 |
| Total time deposits | $25,863 |
| Total time and savings deposits | $37,854 |
| Noninterest-bearing deposits | $13,004 |
| Interest-bearing deposits | $37,895 |
| Retail deposits | $39,138 |
| IRAs and Keogh plan accounts | $792 |
| Brokered deposits | $1,055 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $55,713 |
| Cash & Balances due from depository institutions | $1,195 |
| Interest-bearing balances | $22 |
| Total securities | $1,972 |
| Federal funds sold & reverse repurchase | $1,735 |
| Net loans and leases | $48,012 |
| Loan and leases loss allowance | $432 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $475 |
| Other real estate owned | $626 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,698 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $55,713 |
| Total Liabilities | $50,992 |
| Total deposits | $50,899 |
| Interest-bearing deposits | $37,895 |
| Deposits held in domestic offices | $50,899 |
| % insured (estimated) | $77 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $93 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $48,012 |
| Loan and leases loss allowance | $432 |
| Total loans and leases (domestic) | $48,444 |
| All real estate loans | $37,476 |
| Real estate loans in domestic offices | $37,476 |
| Construction and development loans | $2,251 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $2,251 |
| Loans secured by nonfarm nonresidential properties | $8,687 |
| Nonfarm nonresidential secured by owner-occupied properties | $3,979 |
| Commercial real estate & other non-farm, non-residential | $4,708 |
| Multifamily residential real estate | $1,567 |
| 1-4 family residential loans | $24,168 |
| Farmland loans | $803 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $8,833 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,026 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $286 |
| Other loans to individuals | $1,740 |
| All other loans & leases | $109 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $109 |
| 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 | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
First Security Bank & Trust Company had $48,012,000 of loans outstanding in 2019. $37,476,000 of loans were in real estate loans. $2,251,000 of loans were in development loans. $1,567,000 of loans were in multifamily mortgage loans. $24,168,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $286,000 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 | 27 | $5,443 | $201,593 |
| Nonfarm, nonresidential loans - <$100k | 9 | $418 | $46,444 |
| Nonfarm, nonresidential loans - $100-250k | 10 | $1,414 | $141,400 |
| Nonfarm, nonresidential loans - $250k-1MM | 8 | $3,611 | $451,375 |
| Commercial & Industrial, US addressed loans - <$1MM | 66 | $7,092 | $107,455 |
| Commercial & Industrial, US addressed loans - <$100k | 39 | $1,158 | $29,692 |
| Commercial & Industrial, US addressed loans - $100-250k | 14 | $1,444 | $103,143 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 13 | $4,490 | $345,385 |
| Farmland loans - <$1MM | 6 | $803 | $133,833 |
| Farmland loans - <$100k | 3 | $87 | $29,000 |
| Farmland loans - $100-250k | 2 | $298 | $149,000 |
| Farmland loans - $250k-1MM | 1 | $418 | $418,000 |