First Southern Bank Mortgage Rates, Fees & Info

Florence, AL

LEI: 254900P4A09O6AABF892

Tax ID: 63-0074813

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Mortgage Data

Review & Overview

First Southern Bank is a smaller bank specializing in Home Purchase and Refi loans. First Southern Bank has a high proportion of conventional loans. Their top markets by origination volume include: Florence, Sevierville, Daphne, Albertville, and Fort Payne among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Southern Bank 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

76

Origination Dollar Volume (All Markets)

$24,480,000

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
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 48 $12,140,000 $252,917 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 3 $3,035,000 $1,011,667 $0 0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $1,570,000 $785,000 $0 0.00%
Albertville, AL (FHA|USDA|VA) 3 $1,395,000 $465,000 $0 0.00%
Fort Payne, AL (FHA|USDA|VA) 7 $1,235,000 $176,429 $0 0.00%
HUNTSVILLE, AL (FHA|USDA|VA) 2 $940,000 $470,000 $0 0.00%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $815,000 $815,000 $0 0.00%
DECATUR, AL (FHA|USDA|VA) 2 $680,000 $340,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $585,000 $585,000 $0 0.00%
ROME, GA (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
Helena-West Helena, AR (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
Cullman, AL (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
Outside of Metro Areas 1 $315,000 $315,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Scottsboro, AL (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
Martin, TN (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
First Southern Bank's top markets include Florence, Sevierville, Daphne, Albertville, and Fort Payne among others.

Their top states include:
  • Alabama (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)
  • Arkansas (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 76 $24,480,000 $322,105 $0 0.00%

    For 2023, First Southern Bank's most frequently originated type of loan was Conventional, with 76 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 43 $13,445,000 $312,674 $0 0.00%
    Cash Out Refi 21 $3,385,000 $161,190 $0 0.00%
    Refi 11 $7,525,000 $684,091 $0 0.00%
    Home Improvement 1 $125,000 $125,000 $0 0.00%

    For 2023, First Southern Bank's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Cash Out Refi, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 76 $24,480,000 $322,105 $0 0.00%

    For 2023, First Southern Bank's most frequently cited loan duration was Other, with 76 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 24 $1,490,000 $62,083 $0 0.00%
    $200k-400k 22 $6,220,000 $282,727 $0 0.00%
    $100k-200k 17 $2,595,000 $152,647 $0 0.00%
    $400k-600k 5 $2,625,000 $525,000 $0 0.00%
    $1MM+ 4 $8,360,000 $2,090,000 $0 0.00%
    $600k-1MM 4 $3,190,000 $797,500 $0 0.00%

    2023 saw First Southern Bank place emphasis on $100,000 or less loans with 24 originations, totaling $1,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 15 $5,405,000 $360,333 $0 0.00%
    $100k-150k 13 $2,305,000 $177,308 $0 0.00%
    $150k-250k 10 $2,710,000 $271,000 $0 0.00%
    $50k-75k 7 $885,000 $126,429 $0 0.00%
    $75k-100k 7 $1,315,000 $187,857 $0 0.00%
    $50k or less 4 $300,000 $75,000 $0 0.00%

    First Southern Bank lent most frequently to those with incomes in the $250k+ range, with 15 originations. The second most popular income band? $100k-150k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 76 $24,480,000 $322,105 $0 0.00%

    First Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 76 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 55 $12,535,000 $227,909 $0 0.00%
    Not applicable 20 $11,560,000 $578,000 $0 0.00%
    Black 1 $385,000 $385,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.93%

    First Southern Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.26%

    First Southern Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 76 $24,480,000 $322,105

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    76 $24,480,000 $322,105