First Commercial Bank Mortgage Rates, Fees & Info

Jackson, MS

LEI: 254900SG0DG9VHV3LR79

Tax ID: 64-0922862

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Mortgage Data

Review & Overview

First Commercial Bank is a smaller bank specializing in Home Purchase loans. First Commercial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Jackson, Auburn, Oxford, Memphis, and Crestview among others. We have data for 17 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

192

Origination Dollar Volume (All Markets)

$129,190,000

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
JACKSON, MS (FHA|USDA|VA) 96 $37,220,000 $387,708 $0 0.00%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 2 $35,350,000 $17,675,000 $0 0.00%
Oxford, MS (FHA|USDA|VA) 32 $23,360,000 $730,000 $0 0.00%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 34 $12,880,000 $378,824 $0 0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 4 $9,250,000 $2,312,500 $0 0.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 2 $2,060,000 $1,030,000 $0 0.00%
JACKSON, TN (FHA|USDA|VA) 6 $1,800,000 $300,000 $0 0.00%
Outside of Metro Areas 5 $1,435,000 $287,000 $0 0.00%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 2 $1,430,000 $715,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $905,000 $905,000 $0 0.00%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $885,000 $885,000 $0 0.00%
Cullowhee, NC (FHA|USDA|VA) 1 $865,000 $865,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
Tupelo, MS (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
Starkville, MS (FHA|USDA|VA) 2 $330,000 $165,000 $0 0.00%
Jasper, AL (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
First Commercial Bank's top markets include Jackson, Auburn, Oxford, Memphis, and Crestview among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 192 $129,190,000 $672,865 $0 0.00%

    For 2022, First Commercial Bank's most frequently originated type of loan was Conventional, with 192 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 126 $105,040,000 $833,651 $0 0.00%
    Refi 57 $20,115,000 $352,895 $0 0.00%
    Other 5 $3,285,000 $657,000 $0 0.00%
    Home Improvement 4 $750,000 $187,500 $0 0.00%

    For 2022, First Commercial Bank's most frequently cited loan purpose was Home Purchase, with 126 originations. The 2nd most popular reason was Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 192 $129,190,000 $672,865 $0 0.00%

    For 2022, First Commercial Bank's most frequently cited loan duration was Other, with 192 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 55 $16,185,000 $294,273 $0 0.00%
    $100k-200k 43 $6,445,000 $149,884 $0 0.00%
    $400k-600k 27 $13,185,000 $488,333 $0 0.00%
    $100,000 or less 24 $1,720,000 $71,667 $0 0.00%
    $600k-1MM 23 $17,295,000 $751,957 $0 0.00%
    $1MM+ 20 $74,360,000 $3,718,000 $0 0.00%

    2022 saw First Commercial Bank place emphasis on $200k-400k loans with 55 originations, totaling $16,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 60 $43,900,000 $731,667 $0 0.00%
    $150k-250k 20 $7,500,000 $375,000 $0 0.00%
    $100k-150k 18 $5,540,000 $307,778 $0 0.00%
    $50k-75k 14 $3,360,000 $240,000 $0 0.00%
    $75k-100k 4 $870,000 $217,500 $0 0.00%
    $50k or less 2 $230,000 $115,000 $0 0.00%

    First Commercial Bank lent most frequently to those with incomes in the $250k+ range, with 60 originations. The second most popular income band? $150k-250k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 192 $129,190,000 $672,865 $0 0.00%

    First Commercial Bank lent most frequently to those with DTI ratios of Exempt%, with 192 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 71 $67,135,000 $945,563 $0 0.00%
    White 103 $52,305,000 $507,816 $0 0.00%
    Not provided 9 $5,005,000 $556,111 $0 0.00%
    Asian 6 $3,180,000 $530,000 $0 0.00%
    Black 3 $1,565,000 $521,667 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.89%

    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
    70.83%

    First Commercial Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 192 $129,190,000 $672,865

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    192 $129,190,000 $672,865

    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%