First Bank Mortgage Rates, Fees & Info
Southern Pines, NCLEI: 254900L67A0ZTJRS6614
Tax ID: 56-0132230
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Overview
First Bank is a small bank specializing in Home Purchase and Refi loans. First Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Wilmington, Raleigh, Asheville, Charlotte, and Myrtle Beach among others. First Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First Bank is typically an average fee lendor.Originations
3,298Origination Dollar Volume (All Markets)
$1,169,080,000Employee count
1,207Awards
First Bank - 2021
First Bank is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
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Relative Rate
First Bank's average 30 year fixed rate mortgage of loans were
2.88%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.27%.
Relative Fees
First Bank's average total fees for a 30 year fixed rate
mortgage are $3,708.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| WILMINGTON, NC (FHA|USDA|VA) | 327 | $179,045,000 | $547,538 | $4,080 | 3.36% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 244 | $142,390,000 | $583,566 | $3,621 | 2.84% |
| ASHEVILLE, NC (FHA|USDA|VA) | 499 | $136,995,000 | $274,539 | $4,594 | 3.10% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 236 | $110,420,000 | $467,881 | $3,497 | 2.95% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 294 | $108,850,000 | $370,238 | $4,531 | 3.31% |
| Pinehurst-Southern Pines, NC (FHA|USDA|VA) | 251 | $61,885,000 | $246,554 | $4,780 | 3.13% |
| GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) | 225 | $54,625,000 | $242,778 | $4,279 | 3.07% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 67 | $44,375,000 | $662,313 | $4,483 | 3.03% |
| FAYETTEVILLE, NC (FHA|USDA|VA) | 128 | $37,740,000 | $294,844 | $4,098 | 3.09% |
| FLORENCE, SC (FHA|USDA|VA) | 44 | $25,070,000 | $569,773 | $4,664 | 3.06% |
| Outside of Metro Areas | 136 | $24,750,000 | $181,985 | $4,314 | 3.19% |
| Morehead City, NC (FHA|USDA|VA) | 54 | $23,850,000 | $441,667 | $3,917 | 3.28% |
| Kill Devil Hills, NC (FHA|USDA|VA) | 26 | $21,740,000 | $836,154 | $3,463 | 3.32% |
| GREENVILLE, NC (FHA|USDA|VA) | 34 | $20,380,000 | $599,412 | $3,830 | 3.22% |
| Washington, NC (FHA|USDA|VA) | 88 | $19,720,000 | $224,091 | $3,396 | 3.17% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 97 | $19,715,000 | $203,247 | $4,255 | 3.14% |
| JACKSONVILLE, NC (FHA|USDA|VA) | 68 | $18,090,000 | $266,029 | $3,992 | 3.73% |
| BURLINGTON, NC (FHA|USDA|VA) | 52 | $17,550,000 | $337,500 | $4,482 | 2.93% |
| Albemarle, NC (FHA|USDA|VA) | 61 | $13,935,000 | $228,443 | $5,868 | 3.23% |
| Sanford, NC (FHA|USDA|VA) | 63 | $11,945,000 | $189,603 | $4,038 | 3.12% |
| Lumberton, NC (FHA|USDA|VA) | 55 | $10,425,000 | $189,545 | $4,164 | 3.11% |
| Marion, NC (FHA|USDA|VA) | 46 | $9,960,000 | $216,522 | $4,169 | 3.07% |
| Brevard, NC (FHA|USDA|VA) | 28 | $8,480,000 | $302,857 | $4,145 | 3.07% |
| Laurinburg, NC (FHA|USDA|VA) | 42 | $8,270,000 | $196,905 | $3,811 | 3.15% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 11 | $6,035,000 | $548,636 | $4,640 | 2.93% |
| HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) | 16 | $6,020,000 | $376,250 | $4,250 | 3.12% |
| Rockingham, NC (FHA|USDA|VA) | 37 | $5,145,000 | $139,054 | $3,708 | 3.13% |
| Boone, NC (FHA|USDA|VA) | 5 | $2,245,000 | $449,000 | $4,917 | 2.90% |
| NEW BERN, NC (FHA|USDA|VA) | 8 | $1,910,000 | $238,750 | $4,176 | 3.12% |
| Georgetown, SC (FHA|USDA|VA) | 2 | $1,870,000 | $935,000 | $3,983 | 2.56% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 4 | $1,770,000 | $442,500 | $4,205 | 3.03% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 3 | $1,725,000 | $575,000 | $5,220 | 3.17% |
| Forest City, NC (FHA|USDA|VA) | 6 | $1,580,000 | $263,333 | $4,084 | 3.06% |
| Elizabeth City, NC (FHA|USDA|VA) | 6 | $1,300,000 | $216,667 | $2,770 | 2.35% |
| Roanoke Rapids, NC (FHA|USDA|VA) | 1 | $1,145,000 | $1,145,000 | $0 | 3.00% |
| Seneca, SC (FHA|USDA|VA) | 1 | $1,115,000 | $1,115,000 | $3,622 | 3.13% |
| GOLDSBORO, NC (FHA|USDA|VA) | 9 | $1,085,000 | $120,556 | $1,260 | 3.53% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $5,581 | 2.58% |
| Wilson, NC (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $4,840 | 2.83% |
| ROCKY MOUNT, NC (FHA|USDA|VA) | 4 | $710,000 | $177,500 | $2,517 | 3.59% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 4.00% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $3,897 | 3.63% |
| SUMTER, SC (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $0 | 3.38% |
| SPARTANBURG, SC (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $2,694 | 2.69% |
| Cullowhee, NC (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $0 | 2.88% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $2,191 | 3.56% |
| Bennettsville, SC (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $8,289 | 3.75% |
| Gaffney, SC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,440 | 2.75% |
| Kinston, NC (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $5,937 | 3.38% |
First Bank's top markets include Wilmington, Raleigh, Asheville, Charlotte, and Myrtle Beach among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 3,202 | $1,143,810,000 | $357,217 | $4,194 | 3.16% |
| VA | 57 | $18,375,000 | $322,368 | $5,105 | 2.37% |
| USDA | 33 | $5,505,000 | $166,818 | $5,203 | 2.35% |
| FHA | 6 | $1,390,000 | $231,667 | $7,480 | 2.65% |
For the 2021 period, First Bank's most frequently originated loan type of loans were Conventional, with 3,202 originations. Their 2nd most popular type is VA, with 57 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Home Purchase | 1,294 | $680,540,000 | $525,920 | $4,787 | 3.25% |
| Refi | 951 | $290,895,000 | $305,883 | $3,568 | 2.98% |
| Other | 444 | $70,350,000 | $158,446 | $3,651 | 3.23% |
| Cash Out Refi | 344 | $91,980,000 | $267,384 | $3,786 | 2.92% |
| Home Improvement | 265 | $35,315,000 | $133,264 | $3,573 | 3.26% |
For the 2021, First Bank's most frequently cited loan purpose of loans were Home Purchase, with 1,294 originations. The 2nd most popular reason of loans were Refi, with 951 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 15 Year | 1,227 | $203,735,000 | $166,043 | $3,396 | 3.07% |
| 30 Year | 1,163 | $326,275,000 | $280,546 | $3,708 | 2.88% |
| 30+ year | 523 | $256,225,000 | $489,914 | $5,954 | 3.37% |
| Other | 128 | $168,700,000 | $1,317,969 | $4,670 | 3.70% |
| 5 Year | 102 | $85,840,000 | $841,569 | $0 | 4.10% |
| 10 Year | 68 | $105,570,000 | $1,552,500 | $3,427 | 3.34% |
| 20 Year | 54 | $14,050,000 | $260,185 | $3,326 | 2.77% |
| 1 Year | 26 | $5,520,000 | $212,308 | $0 | 6.41% |
| 3 Year | 7 | $3,165,000 | $452,143 | $0 | 4.00% |
For the 2021, First Bank's most frequently cited loan length of loans were 15 Year, with 1,227 originations. The 2nd most popular length of loans were 30 Year, with 1,163 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 772 | $213,730,000 | $276,852 |
| $1k-2k | 541 | $143,485,000 | $265,222 |
| $2k-3k | 324 | $135,340,000 | $417,716 |
| $3k-4k | 280 | $106,980,000 | $382,071 |
| $5k+ | 120 | $65,880,000 | $549,000 |
$3,708 of loans were First Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 772 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1,857 | $698,815,000 | $376,314 |
| 2.5-3% | 760 | $335,410,000 | $441,329 |
| <2.5% | 500 | $100,990,000 | $201,980 |
| 4-5% | 153 | $30,215,000 | $197,484 |
| 7-8% | 18 | $2,490,000 | $138,333 |
| 5-6% | 10 | $1,160,000 | $116,000 |
During 2021, First Bank's average interest rate of loans were 2.88%, while their most frequently originated rate bucket of loans were 3-4%, with 1,857 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 1,048 | $298,920,000 | $285,229 | $4,304 | 3.07% |
| $100k-200k | 945 | $136,715,000 | $144,672 | $3,017 | 3.08% |
| $100,000 or less | 580 | $36,230,000 | $62,466 | $2,505 | 3.26% |
| $400k-600k | 462 | $221,600,000 | $479,654 | $5,224 | 3.15% |
| $600k-1MM | 177 | $132,015,000 | $745,847 | $6,796 | 3.30% |
| $1MM+ | 86 | $343,600,000 | $3,995,349 | $6,494 | 3.24% |
2021 saw First Bank place emphasis on $200k-400k loans with 1,048 originations, totaling $298,920,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 683 | $179,415,000 | $262,687 | $4,568 | 3.11% |
| $150k-250k | 558 | $192,770,000 | $345,466 | $5,007 | 3.17% |
| $50k-75k | 526 | $96,230,000 | $182,947 | $3,980 | 3.08% |
| $75k-100k | 430 | $92,430,000 | $214,953 | $4,126 | 3.08% |
| $50k or less | 404 | $51,310,000 | $127,005 | $2,700 | 2.88% |
| $250k+ | 384 | $195,120,000 | $508,125 | $5,264 | 3.05% |
First Bank lent most frequently to those with incomes in the $100k-150k range, with 683 originations. The second most popular income band? $150k-250k, with 558 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 873 | $223,875,000 | $256,443 | $4,053 | 3.04% |
| 30-36% | 555 | $144,655,000 | $260,640 | $4,254 | 3.03% |
| <20% | 461 | $112,065,000 | $243,091 | $3,895 | 3.03% |
| 39% | 159 | $38,735,000 | $243,616 | $4,863 | 3.16% |
| 40% | 159 | $34,995,000 | $220,094 | $4,383 | 3.21% |
| 37% | 108 | $29,790,000 | $275,833 | $4,116 | 3.14% |
| 36% | 106 | $32,150,000 | $303,302 | $4,867 | 3.08% |
| 38% | 94 | $28,850,000 | $306,915 | $4,441 | 3.11% |
| 41% | 78 | $26,830,000 | $343,974 | $4,172 | 3.04% |
| 42% | 76 | $28,820,000 | $379,211 | $4,896 | 3.15% |
| 44% | 75 | $23,485,000 | $313,133 | $4,323 | 3.03% |
| 43% | 61 | $19,445,000 | $318,770 | $4,342 | 3.03% |
| 49% | 56 | $18,160,000 | $324,286 | $4,391 | 3.09% |
| 46% | 48 | $16,060,000 | $334,583 | $4,627 | 3.17% |
| 48% | 45 | $14,785,000 | $328,556 | $4,558 | 2.97% |
| 45% | 44 | $14,920,000 | $339,091 | $4,462 | 3.03% |
| 47% | 41 | $12,685,000 | $309,390 | $4,553 | 3.04% |
| 50-60% | 4 | $750,000 | $187,500 | $0 | 3.66% |
| >60% | 2 | $530,000 | $265,000 | $0 | 4.37% |
First Bank lent most frequently to those with DTI ratios of 20-30%, with 873 originations. The next most common DTI ratio? 30-36%, with 555 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 2,732 | $748,990,000 | $274,154 | $4,364 | 3.10% |
| Not applicable | 211 | $334,415,000 | $1,584,905 | $0 | 4.11% |
| Not provided | 159 | $47,445,000 | $298,396 | $4,333 | 3.05% |
| Black | 115 | $17,565,000 | $152,739 | $1,957 | 2.55% |
| Asian | 32 | $8,430,000 | $263,438 | $3,828 | 2.89% |
| American Indian | 32 | $7,910,000 | $247,188 | $4,324 | 3.03% |
| Asian Indian | 7 | $2,095,000 | $299,286 | $2,840 | 3.04% |
| Other Asian | 1 | $805,000 | $805,000 | $4,760 | 3.38% |
| Korean | 2 | $470,000 | $235,000 | $0 | 3.25% |
| Vietnamese | 4 | $420,000 | $105,000 | $0 | 3.25% |
| Chinese | 1 | $325,000 | $325,000 | $6,271 | 2.63% |
| Japanese | 1 | $185,000 | $185,000 | $0 | 3.25% |
| Other Pacific Islander | 1 | $25,000 | $25,000 | $0 | 3.25% |
Approval Rates
Total approvals of all applications87.30%
First Bank has an average approval rate.
Pick Rate
Approvals leading to origination88.30%
First Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,298 | $1,169,080,000 | $354,482 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3,298 | $1,169,080,000 | $354,482 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 550 | $116,230,000 | $211,327 | $3,441 | 3.10% |
| 40-60% | 647 | $278,715,000 | $430,781 | $3,491 | 3.01% |
| 60-80% | 1,166 | $514,440,000 | $441,201 | $4,353 | 3.21% |
| 80-100% | 637 | $232,855,000 | $365,549 | $4,815 | 3.13% |
| Over 100% | 6 | $2,060,000 | $343,333 | $13,099 | 2.85% |
| Under 20% | 291 | $23,775,000 | $81,701 | $3,260 | 3.20% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 2 | 5.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 2.9% |
| FIRST HORIZON BANK | Other type of mortgage | Closing on a mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 6 | 17.6% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 10 | 29.4% |
| FIRST HORIZON BANK | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | FHA mortgage | Closing on a mortgage | 1 | 2.9% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First Bank | 114 West Main Street Locust, NC 28097 | Full Service B&M | $47,536 |
| First Bank | 10 Chinquapin Rd Pinehurst, NC 28374 | Full Service B&M | $75,233 |
| First Bank | 10 South Tunnel Road Asheville, NC 28805 | Full Service B&M | $61,668 |
| First Bank | 10 Waterford Business Center Way Belville, NC 28451 | Full Service B&M | $132,563 |
| First Bank | 100 Bank Street Vass, NC 28394 | Full Service B&M | $51,147 |
| First Bank | 100 East Leitner Street Latta, SC 29565 | Full Service B&M | $36,951 |
| First Bank | 100 Waters Dr Southern Pines, NC 28387 | Limited, Drive-thru | $30,865 |
| First Bank | 1000 S. Main St Lillington, NC 27546 | Full Service B&M | $107,744 |
| First Bank | 101 North Spring Street Greensboro, NC 27401 | Full Service B&M | $333,506 |
| First Bank | 162 North Main Street Marion, NC 28752 | Full Service B&M | $87,226 |
| First Bank | 1701 Eastwood Road Wilmington, NC 28403 | Full Service B&M | $162,323 |
| First Bank | 17948 Hwy 109 South Denton, NC 27239 | Full Service B&M | $120,210 |
| First Bank | 18 Chatham Corners Drive Pittsboro, NC 27312 | Full Service B&M | $62,008 |
| First Bank | 1830 N. Broad Street Fuquay Varina, NC 27526 | Full Service B&M | $47,750 |
| First Bank | 1879 Hendersonville Road Asheville, NC 28803 | Full Service B&M | $91,584 |
| First Bank | 1910 East Main Street Albemarle, NC 28001 | Full Service B&M | $40,034 |
| First Bank | 2 Market Street Brevard, NC 28712 | Full Service B&M | $33,138 |
| First Bank | 2007 S. Croatan Hwy Kill Devil Hills, NC 27948 | Full Service B&M | $53,008 |
| First Bank | 201 Kennedy Road Thomasville, NC 27360 | Full Service B&M | $74,703 |
| First Bank | 201 Market Street Wilmington, NC 28401 | Full Service B&M | $89,942 |
| First Bank | 205 S.E. Broad Street Southern Pines, NC 28387 | Full Service B&M | $360,602 |
| First Bank | 205 South Main Street Kenansville, NC 28349 | Full Service B&M | $85,653 |
| First Bank | 301 West Broad Street St. Pauls, NC 28384 | Full Service B&M | $39,675 |
| First Bank | 315 N. Academy Street Cary, NC 27513 | Full Service B&M | $20,524 |
| First Bank | 3210 Ray Road Spring Lake, NC 28390 | Full Service B&M | $23,409 |
| First Bank | 3214 S. Church St. Burlington, NC 27215 | Full Service B&M | $78,258 |
| First Bank | 335 S. Fayetteville Street Asheboro, NC 27203 | Full Service B&M | $168,445 |
| First Bank | 3364 Harmony Highway Harmony, NC 28634 | Full Service B&M | $29,671 |
| First Bank | 347 North Main Street Mooresville, NC 28115 | Full Service B&M | $63,693 |
| First Bank | 347 Whiteville Road, Nw Shallotte, NC 28470 | Full Service B&M | $87,495 |
| First Bank | 3551 Hendersonville Road Fletcher, NC 28732 | Full Service B&M | $32,911 |
| First Bank | 3605 Oleander Drive Wilmington, NC 28403 | Full Service B&M | $26,960 |
| First Bank | 3620 Six Forks Road Raleigh, NC 27609 | Full Service B&M | $85,023 |
| First Bank | 3948 Chatham Street Bennett, NC 27208 | Full Service B&M | $19,225 |
| First Bank | 401 Gilead Road Huntersville, NC 28078 | Full Service B&M | $19,273 |
| First Bank | 827 New Bridge Street Jacksonville, NC 28540 | Full Service B&M | $50,977 |
| First Bank | 8286 Market Street Wilmington, NC 28411 | Full Service B&M | $47,444 |
| First Bank | 901 Chesterfield Highway Cheraw, SC 29520 | Full Service B&M | $60,376 |
| First Bank | 907 Smoky Park Highway Candler, NC 28715 | Full Service B&M | $64,437 |
| First Bank | 101 West Main Street Dillon, SC 29536 | Full Service B&M | $47,946 |
| First Bank | 1012 Patton Avenue Asheville, NC 28806 | Full Service B&M | $103,840 |
| First Bank | 102 East Fifth Street Tabor City, NC 28463 | Full Service B&M | $34,698 |
| First Bank | 104 National Drive Biscoe, NC 27209 | Full Service B&M | $40,972 |
| First Bank | 1040 Albemarle Road Troy, NC 27371 | Full Service B&M | $135,352 |
| First Bank | 105 North Main Street Mars Hill, NC 28754 | Full Service B&M | $52,473 |
| First Bank | 105 S. Sandhill Boulevard Aberdeen, NC 28315 | Full Service B&M | $47,471 |
| First Bank | 108 N. Middleton St. Robbins, NC 27325 | Full Service B&M | $48,611 |
| First Bank | 108 Tobacco Drive Wallace, NC 28466 | Full Service B&M | $77,239 |
| First Bank | 109 Monroe Street Carthage, NC 28327 | Full Service B&M | $46,614 |
| First Bank | 109 Penny Road High Point, NC 27260 | Limited, Drive-thru | $0 |
| First Bank | 11 Church Street Asheville, NC 28801 | Full Service B&M | $248,362 |
| First Bank | 1104 North J K Powell Boulevard Whiteville, NC 28472 | Full Service B&M | $57,013 |
| First Bank | 206 East Monroe Street Dillon, SC 29536 | Limited, Drive-thru | $3,609 |
| First Bank | 210 West 3rd Street Pembroke, NC 28372 | Full Service B&M | $75,225 |
| First Bank | 2170 West Evans Street Florence, SC 29501 | Full Service B&M | $73,008 |
| First Bank | 229 North Main Street Broadway, NC 27505 | Full Service B&M | $39,318 |
| First Bank | 2317 Highway 52 North Albemarle, NC 28001 | Full Service B&M | $39,377 |
| First Bank | 232 W. Broad Street Elizabethtown, NC 28337 | Full Service B&M | $65,375 |
| First Bank | 2604 Lawndale Drive Greensboro, NC 27408 | Full Service B&M | $151,380 |
| First Bank | 2630 South Horner Blvd Sanford, NC 27332 | Full Service B&M | $58,567 |
| First Bank | 2801 North Elm Street Lumberton, NC 28358 | Full Service B&M | $125,263 |
| First Bank | 2939 Village Drive Fayetteville, NC 28305 | Full Service B&M | $54,288 |
| First Bank | 300 Sw Broad Street Southern Pines, NC 28387 | Limited, Administrative | $0 |
| First Bank | 300 W State Street Black Mountain, NC 28711 | Full Service B&M | $81,183 |
| First Bank | 301 South Main Street Fairmont, NC 28340 | Full Service B&M | $39,427 |
| First Bank | 401 Knollwood Street Winston Salem, NC 27103 | Full Service B&M | $28,341 |
| First Bank | 4010 Brian Jordan Place High Point, NC 27265 | Full Service B&M | $44,905 |
| First Bank | 402 East Williams Street Apex, NC 27502 | Full Service B&M | $60,492 |
| First Bank | 402 S. Second Avenue Mayodan, NC 27027 | Full Service B&M | $35,404 |
| First Bank | 405 S. Sycamore Street Rose Hill, NC 28458 | Full Service B&M | $55,408 |
| First Bank | 4110 Western Boulevard Jacksonville, NC 28546 | Full Service B&M | $123,995 |
| First Bank | 415 North Raleigh Street Angier, NC 27501 | Full Service B&M | $42,282 |
| First Bank | 4201 Congress St, Ste 100 Charlotte, NC 28209 | Full Service B&M | $74,976 |
| First Bank | 421 South Main Street Kannapolis, NC 28081 | Full Service B&M | $39,046 |
| First Bank | 4295 Nc Hwy 211 West End, NC 27376 | Full Service B&M | $83,296 |
| First Bank | 452 Second Loop Rd Florence, SC 29505 | Full Service B&M | $21,164 |
| First Bank | 46 Pinecrest Plaza Southern Pines, NC 28387 | Full Service B&M | $81,742 |
| First Bank | 5 Blake Blvd Pinehurst, NC 28374 | Full Service B&M | $49,577 |
| First Bank | 5 Olde Eastwood Village Blvd Asheville, NC 28803 | Full Service B&M | $56,418 |
| First Bank | 5002 Peters Creek Parkway Winston Salem, NC 27127 | Full Service B&M | $16,005 |
| First Bank | 5102 South College Road Wilmington, NC 28412 | Full Service B&M | $100,144 |
| First Bank | 5210 Southport-Supply Rd Southport, NC 28461 | Full Service B&M | $42,206 |
| First Bank | 5610 University Parkway Winston Salem, NC 27105 | Full Service B&M | $13,359 |
| First Bank | 601 North Main Street Hendersonville, NC 28792 | Full Service B&M | $83,707 |
| First Bank | 601 South Main Street Laurinburg, NC 28352 | Full Service B&M | $136,251 |
| First Bank | 6303 Beach Drive Southwest Ocean Isle Beach, NC 28469 | Full Service B&M | $86,934 |
| First Bank | 639 West 15th Street Washington, NC 27889 | Full Service B&M | $108,341 |
| First Bank | 770 W Main St Belhaven, NC 27810 | Full Service B&M | $26,556 |
| First Bank | 778 Merrimon Ave Asheville, NC 28804 | Full Service B&M | $91,244 |
| First Bank | 8252 Highway 49 North Mount Pleasant, NC 28124 | Full Service B&M | $37,323 |
| First Bank | 11410 N Main Street Archdale, NC 27263 | Full Service B&M | $21,695 |
| First Bank | 1200 North Main Street High Point, NC 27262 | Full Service B&M | $48,757 |
| First Bank | 1201 East Arlington Blvd Greenville, NC 27858 | Full Service B&M | $59,578 |
| First Bank | 121 West Main Street Seagrove, NC 27341 | Full Service B&M | $54,042 |
| First Bank | 1254 E. Broad Avenue Rockingham, NC 28379 | Full Service B&M | $90,049 |
| First Bank | 1333 Plaza Boulevard Sanford, NC 27330 | Full Service B&M | $170,859 |
| First Bank | 135 Highway 49 North Richfield, NC 28137 | Full Service B&M | $46,667 |
| First Bank | 137 Highway 24 Morehead City, NC 28557 | Full Service B&M | $78,114 |
| First Bank | 1503 Live Oak Street Beaufort, NC 28516 | Full Service B&M | $25,988 |
| First Bank | 1525 Jake Alexander Boulevard South Salisbury, NC 28146 | Full Service B&M | $98,288 |
| First Bank | 1554 North Peace Haven Road Winston Salem, NC 27104 | Full Service B&M | $37,600 |
| First Bank | 1601 Highwoods Boulevard Greensboro, NC 27410 | Full Service B&M | $63,196 |
For 2021, First Bank had 102 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $255,894 |
| Net interest income | $247,827 |
| Total noninterest income | $80,450 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $12,317 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $68,133 |
| Pre-tax net operating income | $128,331 |
| Securities gains (or losses, -) | $-1,237 |
| Income before extraordinary items | $100,996 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $100,996 |
| Minority interest net income | $0 |
| Net income | $100,996 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $101,973 |
First Bank's gross interest income from loans was $255,894,000.
First Bank's net interest income from loans was $247,827,000.
First Bank's fee based income from loans was $12,317,000.
First Bank's net income from loans was $100,996,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $8,067 |
| Provision for credit losses | $15,031 |
| Total noninterest expense | $184,915 |
| Salaries and employee benefits | $103,249 |
| Premises and equipment expense | $15,607 |
| Additional noninterest expense | $66,059 |
| Applicable income taxes | $26,098 |
| Net charge-offs | $2,680 |
| Cash dividends | $25,300 |
First Bank's interest expense for loans was $8,067,000.
First Bank's payroll and benefits expense were $103,249,000.
First Bank's property, plant and equipment expenses $15,607,000.
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 | 2.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.4% |
| 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 | $9,150,126 |
| Deposits held in domestic offices | $9,150,126 |
| Deposits by Individuals, partnerships, and corporations | $8,298,044 |
| Deposits by U.S. Government | $6,757 |
| Deposits by States and political subdivisions in the U.S. | $844,885 |
| Deposits by Commercial banks and other depository institutions in U.S. | $440 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $370,929 |
| Demand deposits | $212,563 |
| Nontransaction accounts | $8,779,197 |
| Money market deposit accounts (MMDAs) | $2,563,309 |
| Other savings deposits (excluding MMDAs) | $5,303,450 |
| Total time deposits | $912,439 |
| Total time and savings deposits | $8,937,563 |
| Noninterest-bearing deposits | $3,374,115 |
| Interest-bearing deposits | $5,776,010 |
| Retail deposits | $8,786,607 |
| IRAs and Keogh plan accounts | $120,184 |
| Brokered deposits | $7,415 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $10,516,825 |
| Cash & Balances due from depository institutions | $467,677 |
| Interest-bearing balances | $305,829 |
| Total securities | $3,144,239 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $6,083,186 |
| Loan and leases loss allowance | $78,789 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $156,804 |
| Other real estate owned | $3,071 |
| Goodwill and other intangibles | $385,048 |
| All other assets | $276,800 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $10,516,825 |
| Total Liabilities | $9,237,540 |
| Total deposits | $9,150,126 |
| Interest-bearing deposits | $5,776,010 |
| Deposits held in domestic offices | $9,150,126 |
| % insured (estimated) | $63 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $1,975 |
| Subordinated debt | $0 |
| All other liabilities | $85,439 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $6,083,186 |
| Loan and leases loss allowance | $78,789 |
| Total loans and leases (domestic) | $6,161,975 |
| All real estate loans | $5,455,515 |
| Real estate loans in domestic offices | $5,455,515 |
| Construction and development loans | $838,525 |
| Residential 1-4 family construction | $270,380 |
| Other construction, all land development and other land | $568,145 |
| Loans secured by nonfarm nonresidential properties | $2,777,723 |
| Nonfarm nonresidential secured by owner-occupied properties | $991,775 |
| Commercial real estate & other non-farm, non-residential | $1,785,948 |
| Multifamily residential real estate | $389,113 |
| 1-4 family residential loans | $1,393,749 |
| Farmland loans | $56,405 |
| Loans held in foreign offices | $0 |
| Farm loans | $14,080 |
| Commercial and industrial loans | $418,281 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $56,973 |
| Credit card loans | $17,426 |
| Related Plans | $10,723 |
| Consumer Auto Loans | $8,225 |
| Other loans to individuals | $20,599 |
| All other loans & leases | $217,126 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $15,464 |
| 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 | $12,672 |
| Non 1-4 family restructured loans & leases | $7,233 |
| Total loans and leases (foreign) | $0 |
First Bank had $6,083,186,000 of loans outstanding in 2021. $5,455,515,000 of loans were in real estate loans. $838,525,000 of loans were in development loans. $389,113,000 of loans were in multifamily mortgage loans. $1,393,749,000 of loans were in 1-4 family mortgage loans. $14,080,000 of loans were in farm loans. $17,426,000 of loans were in credit card loans. $8,225,000 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 | 3,179 | $788,281 | $247,965 |
| Nonfarm, nonresidential loans - <$100k | 436 | $17,972 | $41,220 |
| Nonfarm, nonresidential loans - $100-250k | 1,015 | $127,565 | $125,680 |
| Nonfarm, nonresidential loans - $250k-1MM | 1,728 | $642,744 | $371,958 |
| Commercial & Industrial, US addressed loans - <$1MM | 4,256 | $254,962 | $59,906 |
| Commercial & Industrial, US addressed loans - <$100k | 2,810 | $59,058 | $21,017 |
| Commercial & Industrial, US addressed loans - $100-250k | 736 | $64,664 | $87,859 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 710 | $131,240 | $184,845 |
| Farmland loans - <$1MM | 181 | $20,981 | $115,917 |
| Farmland loans - <$100k | 65 | $2,365 | $36,385 |
| Farmland loans - $100-250k | 66 | $7,442 | $112,758 |
| Farmland loans - $250k-1MM | 50 | $11,174 | $223,480 |
| Agriculture operations loans - <$1MM | 63 | $3,658 | $58,063 |
| Agriculture operations loans - <$100k | 39 | $870 | $22,308 |
| Agriculture operations loans - $100-250k | 14 | $930 | $66,429 |
| Agriculture operations loans - $250k-1MM | 10 | $1,858 | $185,800 |
