First Southern Bank Mortgage Rates, Fees & Info
Florence, ALLEI: 254900P4A09O6AABF892
Tax ID: 63-0074813
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Review & Overview
First Southern Bank is a smaller bank specializing in Home Purchase loans. First Southern Bank has a high proportion of conventional loans. Their top markets by origination volume include: Florence, Mobile, Sevierville, Fort Payne, and Huntsville among others. We have data for 20 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
161Origination Dollar Volume (All Markets)
$52,435,000Top 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) | 101 | $29,495,000 | $292,030 | $0 | 0.00% |
| MOBILE, AL (FHA|USDA|VA) | 4 | $3,780,000 | $945,000 | $0 | 0.00% |
| Sevierville, TN (FHA|USDA|VA) | 2 | $2,110,000 | $1,055,000 | $0 | 0.00% |
| Fort Payne, AL (FHA|USDA|VA) | 6 | $2,040,000 | $340,000 | $0 | 0.00% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 12 | $1,850,000 | $154,167 | $0 | 0.00% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 5 | $1,745,000 | $349,000 | $0 | 0.00% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 1 | $1,625,000 | $1,625,000 | $0 | 0.00% |
| DECATUR, AL (FHA|USDA|VA) | 5 | $1,475,000 | $295,000 | $0 | 0.00% |
| Outside of Metro Areas | 5 | $1,265,000 | $253,000 | $0 | 0.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $1,205,000 | $1,205,000 | $0 | 0.00% |
| Albertville, AL (FHA|USDA|VA) | 3 | $1,155,000 | $385,000 | $0 | 0.00% |
| TUSCALOOSA, AL (FHA|USDA|VA) | 3 | $815,000 | $271,667 | $0 | 0.00% |
| GADSDEN, AL (FHA|USDA|VA) | 4 | $810,000 | $202,500 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 2 | $720,000 | $360,000 | $0 | 0.00% |
| VALDOSTA, GA (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $535,000 | $535,000 | $0 | 0.00% |
| Ozark, AL (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 0.00% |
| Martin, TN (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| GAINESVILLE, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 161 | $52,435,000 | $325,683 | $0 | 0.00% |
For 2022, First Southern Bank's most frequently originated type of loan was Conventional, with 161 originations.
Loan Reason
For 2022, First Southern Bank's most frequently cited loan purpose was Home Purchase, with 107 originations. The 2nd most popular reason was Refi, with 27 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 161 | $52,435,000 | $325,683 | $0 | 0.00% |
For 2022, First Southern Bank's most frequently cited loan duration was Other, with 161 originations.
Loan Sizing
2022 saw First Southern Bank place emphasis on $100,000 or less loans with 44 originations, totaling $2,780,000 in origination value.
Applicant Income
First Southern Bank lent most frequently to those with incomes in the $100k-150k range, with 30 originations. The second most popular income band? $250k+, with 26 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 161 | $52,435,000 | $325,683 | $0 | 0.00% |
First Southern Bank lent most frequently to those with DTI ratios of Exempt%, with 161 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.84%
First Southern Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination86.96%
First Southern Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 161 | $52,435,000 | $325,683 |
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST CITIZENS BANCSHARES, INC. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |