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
246Origination Dollar Volume (All Markets)
$18,100,000Employee count
24Top 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) | 246 | $18,100,000 | $73,577 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 246 | $18,100,000 | $73,577 | $0 | 0.00% |
For 2020, First Security Bank & Trust Company's most frequently originated type of loan was Conventional, with 246 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 223 | $17,015,000 | $76,300 | $0 | 0.00% |
| Refi | 20 | $900,000 | $45,000 | $0 | 0.00% |
| Cash Out Refi | 3 | $185,000 | $61,667 | $0 | 0.00% |
For 2020, First Security Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 223 originations. The 2nd most popular reason was Refi, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 246 | $18,100,000 | $73,577 | $0 | 0.00% |
For 2020, First Security Bank & Trust Company's most frequently cited loan duration was Other, with 246 originations.
Loan Sizing
2020 saw First Security Bank & Trust Company place emphasis on $100,000 or less loans with 199 originations, totaling $11,565,000 in origination value.
Applicant Income
First Security Bank & Trust Company lent most frequently to those with incomes in the $75k-100k range, with 2 originations. The second most popular income band? $150k-250k, with 1 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 246 | $18,100,000 | $73,577 | $0 | 0.00% |
First Security Bank & Trust Company lent most frequently to those with DTI ratios of Exempt%, with 246 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Not applicable | 241 | $17,615,000 | $73,091 | $0 | 0.00% |
| Black | 3 | $295,000 | $98,333 | $0 | 0.00% |
| White | 2 | $190,000 | $95,000 | $0 | 0.00% |
Approval Rates
Total approvals of all applications100.00%
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 origination77.64%
First Security Bank & Trust Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 246 | $18,100,000 | $73,577 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $245,000 | $245,000 |
| Single Family (1-4 Units):Site-Built | 245 | $17,855,000 | $72,878 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | Other type of mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Closing on a mortgage | 2 | 13.3% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
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 | $54,770 |
For 2020, First Security Bank & Trust Company had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $3,748 |
| Net interest income | $3,400 |
| Total noninterest income | $7 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $212 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $-205 |
| Pre-tax net operating income | $403 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $403 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $403 |
| Minority interest net income | $0 |
| Net income | $403 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $403 |
First Security Bank & Trust Company's gross interest income from loans was $3,748,000.
First Security Bank & Trust Company's net interest income from loans was $3,400,000.
First Security Bank & Trust Company's fee based income from loans was $212,000.
First Security Bank & Trust Company's net income from loans was $403,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $348 |
| Provision for credit losses | $135 |
| Total noninterest expense | $2,869 |
| Salaries and employee benefits | $1,631 |
| Premises and equipment expense | $323 |
| Additional noninterest expense | $915 |
| Applicable income taxes | $0 |
| Net charge-offs | $105 |
| Cash dividends | $254 |
First Security Bank & Trust Company's interest expense for loans was $348,000.
First Security Bank & Trust Company's payroll and benefits expense were $1,631,000.
First Security Bank & Trust Company's property, plant and equipment expenses $323,000.
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 | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 2.0% |
| HELOC loans | 0.0% |
| All other family | 3.0% |
| 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 | $49,676 |
| Deposits held in domestic offices | $49,676 |
| Deposits by Individuals, partnerships, and corporations | $45,522 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $4,154 |
| 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 | $25,268 |
| Demand deposits | $17,904 |
| Nontransaction accounts | $24,408 |
| Money market deposit accounts (MMDAs) | $1,427 |
| Other savings deposits (excluding MMDAs) | $8,305 |
| Total time deposits | $14,674 |
| Total time and savings deposits | $31,772 |
| Noninterest-bearing deposits | $18,568 |
| Interest-bearing deposits | $31,108 |
| Retail deposits | $43,265 |
| IRAs and Keogh plan accounts | $749 |
| Brokered deposits | $1,055 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $56,312 |
| Cash & Balances due from depository institutions | $883 |
| Interest-bearing balances | $14 |
| Total securities | $1,486 |
| Federal funds sold & reverse repurchase | $3,710 |
| Net loans and leases | $47,943 |
| Loan and leases loss allowance | $462 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $457 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $1,833 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $56,312 |
| Total Liabilities | $51,398 |
| Total deposits | $49,676 |
| Interest-bearing deposits | $31,108 |
| Deposits held in domestic offices | $49,676 |
| % insured (estimated) | $85 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $1,700 |
| Subordinated debt | $0 |
| All other liabilities | $22 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $47,943 |
| Loan and leases loss allowance | $462 |
| Total loans and leases (domestic) | $48,405 |
| All real estate loans | $39,417 |
| Real estate loans in domestic offices | $39,417 |
| Construction and development loans | $2,708 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $2,708 |
| Loans secured by nonfarm nonresidential properties | $8,834 |
| Nonfarm nonresidential secured by owner-occupied properties | $4,666 |
| Commercial real estate & other non-farm, non-residential | $4,168 |
| Multifamily residential real estate | $799 |
| 1-4 family residential loans | $26,754 |
| Farmland loans | $322 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $7,522 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,466 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $248 |
| Other loans to individuals | $1,218 |
| 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 | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
First Security Bank & Trust Company had $47,943,000 of loans outstanding in 2020. $39,417,000 of loans were in real estate loans. $2,708,000 of loans were in development loans. $799,000 of loans were in multifamily mortgage loans. $26,754,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $248,000 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 | 32 | $5,657 | $176,781 |
| Nonfarm, nonresidential loans - <$100k | 11 | $454 | $41,273 |
| Nonfarm, nonresidential loans - $100-250k | 13 | $1,983 | $152,538 |
| Nonfarm, nonresidential loans - $250k-1MM | 8 | $3,220 | $402,500 |
| Commercial & Industrial, US addressed loans - <$1MM | 257 | $6,654 | $25,891 |
| Commercial & Industrial, US addressed loans - <$100k | 236 | $1,930 | $8,178 |
| Commercial & Industrial, US addressed loans - $100-250k | 10 | $1,057 | $105,700 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 11 | $3,667 | $333,364 |
| Farmland loans - <$1MM | 4 | $321 | $80,250 |
| Farmland loans - <$100k | 3 | $125 | $41,667 |
| Farmland loans - $100-250k | 1 | $196 | $196,000 |