First Bank Mortgage Rates, Fees & Info

Southern Pines, NC

LEI: 254900L67A0ZTJRS6614

Tax ID: 56-0132230

5 stars - out of 5 stars, based on 57 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


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

3,298

Origination Dollar Volume (All Markets)

$1,169,080,000

Employee count

1,207 Show all (16) awards

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 applications
87.30%

First Bank has an average approval rate.

Pick Rate

Approvals leading to origination
88.30%

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