First Commercial Bank Mortgage Rates, Fees & Info

Jackson, MS

LEI: 254900SG0DG9VHV3LR79

Tax ID: 64-0922862

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Mortgage Data

Bank Data

Review & Overview

First Commercial Bank is a smaller bank specializing in Refi and Home Purchase loans. First Commercial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Jackson, Memphis, Oxford, Crestview, and Auburn among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Commercial 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

231

Origination Dollar Volume (All Markets)

$84,195,000

Employee count

85

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
JACKSON, MS (FHA|USDA|VA) 106 $35,160,000 $331,698 $0 0.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 68 $22,520,000 $331,176 $0 0.00%
Oxford, MS (FHA|USDA|VA) 31 $12,415,000 $400,484 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 4 $3,410,000 $852,500 $0 0.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 1 $3,235,000 $3,235,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 2 $1,480,000 $740,000 $0 0.00%
NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $1,280,000 $640,000 $0 0.00%
Outside of Metro Areas 3 $875,000 $291,667 $0 0.00%
Edwards, CO (FHA|USDA|VA) 1 $705,000 $705,000 $0 0.00%
JACKSON, TN (FHA|USDA|VA) 3 $695,000 $231,667 $0 0.00%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $675,000 $675,000 $0 0.00%
McComb, MS (FHA|USDA|VA) 3 $455,000 $151,667 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
Greenwood, MS (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Cullman, AL (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
HATTIESBURG, MS (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Starkville, MS (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
First Commercial Bank's top markets include Jackson, Memphis, Oxford, Crestview, and Auburn among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 231 $84,195,000 $364,481 $0 0.00%

    For 2020, First Commercial Bank's most frequently originated type of loan was Conventional, with 231 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 139 $43,125,000 $310,252 $0 0.00%
    Home Purchase 87 $40,345,000 $463,736 $0 0.00%
    Other 4 $550,000 $137,500 $0 0.00%
    Home Improvement 1 $175,000 $175,000 $0 0.00%

    For 2020, First Commercial Bank's most frequently cited loan purpose was Refi, with 139 originations. The 2nd most popular reason was Home Purchase, with 87 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 231 $84,195,000 $364,481 $0 0.00%

    For 2020, First Commercial Bank's most frequently cited loan duration was Other, with 231 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 67 $3,585,000 $53,507 $0 0.00%
    $100k-200k 52 $7,630,000 $146,731 $0 0.00%
    $600k-1MM 38 $28,390,000 $747,105 $0 0.00%
    $200k-400k 32 $8,760,000 $273,750 $0 0.00%
    $400k-600k 29 $14,485,000 $499,483 $0 0.00%
    $1MM+ 13 $21,345,000 $1,641,923 $0 0.00%

    2020 saw First Commercial Bank place emphasis on $100,000 or less loans with 67 originations, totaling $3,585,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 64 $36,910,000 $576,719 $0 0.00%
    $150k-250k 26 $8,910,000 $342,692 $0 0.00%
    $100k-150k 15 $2,175,000 $145,000 $0 0.00%
    $50k or less 8 $860,000 $107,500 $0 0.00%
    $50k-75k 7 $1,355,000 $193,571 $0 0.00%
    $75k-100k 6 $1,070,000 $178,333 $0 0.00%

    First Commercial Bank lent most frequently to those with incomes in the $250k+ range, with 64 originations. The second most popular income band? $150k-250k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 231 $84,195,000 $364,481 $0 0.00%

    First Commercial Bank lent most frequently to those with DTI ratios of Exempt%, with 231 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 113 $44,555,000 $394,292 $0 0.00%
    Not applicable 103 $31,805,000 $308,786 $0 0.00%
    Asian 5 $3,675,000 $735,000 $0 0.00%
    Black 7 $3,035,000 $433,571 $0 0.00%
    Not provided 1 $965,000 $965,000 $0 0.00%
    Chinese 1 $95,000 $95,000 $0 0.00%
    Asian Indian 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.27%

    First Commercial 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 origination
    80.95%

    First Commercial Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 231 $84,195,000 $364,481

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 15 $17,045,000 $1,136,333
    Single Family (1-4 Units):Site-Built 216 $67,150,000 $310,880

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRST FINANCIAL BANCORP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    FIRST FINANCIAL BANCORP Other type of mortgage Closing on a mortgage 1 14.3%
    FIRST FINANCIAL BANCORP Home equity loan or line of credit (HELOC) Trouble during payment process 1 14.3%
    FIRST FINANCIAL BANCORP Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 28.6%
    FIRST FINANCIAL BANCORP Conventional home mortgage Trouble during payment process 1 14.3%
    FIRST FINANCIAL BANCORP Conventional home mortgage Struggling to pay mortgage 1 14.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Commercial Bank 1076 Highland Colony Parkway Ridgeland, MS 39157 Full Service B&M $18,218
    First Commercial Bank 1300 Meadowbrook Road, Suite 100 Jackson, MS 39211 Full Service B&M $298,040
    First Commercial Bank 404 Enterprise Drive, Suite A Oxford, MS 38655 Full Service B&M $22,794
    First Commercial Bank 5740 Getwell Road, Building 13, Suite D Southaven, MS 38672 Full Service B&M $68,986

    For 2020, First Commercial Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,549
    Net interest income $16,260
    Total noninterest income $2,680
    Gross Fiduciary activities income $320
    Service charges on deposit accounts $384
    Trading account gains and fees $0
    Additional Noninterest Income $1,976
    Pre-tax net operating income $2,056
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,431
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,431
    Minority interest net income $0
    Net income $2,431
    Sale, conversion, retirement of capital stock, net $15,804
    Net operating income $2,431

    First Commercial Bank's gross interest income from loans was $19,549,000.
    First Commercial Bank's net interest income from loans was $16,260,000.
    First Commercial Bank's fee based income from loans was $384,000.
    First Commercial Bank's net income from loans was $2,431,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,289
    Provision for credit losses $848
    Total noninterest expense $16,036
    Salaries and employee benefits $11,093
    Premises and equipment expense $1,199
    Additional noninterest expense $3,744
    Applicable income taxes $-375
    Net charge-offs $-47
    Cash dividends $2,337

    First Commercial Bank's interest expense for loans was $3,289,000.
    First Commercial Bank's payroll and benefits expense were $11,093,000.
    First Commercial Bank's property, plant and equipment expenses $1,199,000.

    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 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 $505,526
    Deposits held in domestic offices $505,526
    Deposits by Individuals, partnerships, and corporations $483,482
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $11,379
    Deposits by Commercial banks and other depository institutions in U.S. $10,665
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $359,787
    Demand deposits $178,183
    Nontransaction accounts $145,739
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $0
    Total time deposits $145,740
    Total time and savings deposits $327,343
    Noninterest-bearing deposits $178,183
    Interest-bearing deposits $327,344
    Retail deposits $424,110
    IRAs and Keogh plan accounts $2,415
    Brokered deposits $58,603
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $599,653
    Cash & Balances due from depository institutions $63,433
    Interest-bearing balances $49,733
    Total securities $20,288
    Federal funds sold & reverse repurchase $53
    Net loans and leases $486,051
    Loan and leases loss allowance $4,986
    Trading account assets $0
    Bank premises and fixed assets $2,220
    Other real estate owned $0
    Goodwill and other intangibles $1,384
    All other assets $26,224

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $599,653
    Total Liabilities $529,923
    Total deposits $505,526
    Interest-bearing deposits $327,344
    Deposits held in domestic offices $505,526
    % insured (estimated) $61
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $20,000
    Subordinated debt $0
    All other liabilities $4,397

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $486,051
    Loan and leases loss allowance $4,986
    Total loans and leases (domestic) $491,037
    All real estate loans $362,624
    Real estate loans in domestic offices $362,624
    Construction and development loans $49,971
    Residential 1-4 family construction $11,688
    Other construction, all land development and other land $38,283
    Loans secured by nonfarm nonresidential properties $170,783
    Nonfarm nonresidential secured by owner-occupied properties $79,946
    Commercial real estate & other non-farm, non-residential $90,837
    Multifamily residential real estate $29,462
    1-4 family residential loans $104,203
    Farmland loans $8,205
    Loans held in foreign offices $0
    Farm loans $17
    Commercial and industrial loans $119,700
    To non-U.S. addressees $0
    Loans to individuals $7,194
    Credit card loans $0
    Related Plans $2,401
    Consumer Auto Loans $750
    Other loans to individuals $4,043
    All other loans & leases $1,502
    Loans to foreign governments and official institutions $0
    Other loans $884
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $5,624
    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 Commercial Bank had $486,051,000 of loans outstanding in 2020. $362,624,000 of loans were in real estate loans. $49,971,000 of loans were in development loans. $29,462,000 of loans were in multifamily mortgage loans. $104,203,000 of loans were in 1-4 family mortgage loans. $17,000 of loans were in farm loans. $0 of loans were in credit card loans. $750,000 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 172 $47,540 $276,395
    Nonfarm, nonresidential loans - <$100k 21 $917 $43,667
    Nonfarm, nonresidential loans - $100-250k 51 $6,323 $123,980
    Nonfarm, nonresidential loans - $250k-1MM 100 $40,300 $403,000
    Commercial & Industrial, US addressed loans - <$1MM 695 $74,015 $106,496
    Commercial & Industrial, US addressed loans - <$100k 380 $11,032 $29,032
    Commercial & Industrial, US addressed loans - $100-250k 164 $19,281 $117,567
    Commercial & Industrial, US addressed loans - $250k-1MM 151 $43,702 $289,417
    Farmland loans - <$1MM 14 $2,365 $168,929
    Farmland loans - <$100k 5 $241 $48,200
    Farmland loans - $100-250k 3 $387 $129,000
    Farmland loans - $250k-1MM 6 $1,737 $289,500
    Agriculture operations loans - <$1MM 1 $17 $17,000
    Agriculture operations loans - <$100k 1 $17 $17,000