The First Bank Of Greenwich Mortgage Rates, Fees & Info

Cos Cob, CT

LEI: 254900ZJM7YMM3MA5J75

Tax ID: 05-0586924

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Mortgage Data

Bank Data

Review & Overview

The First Bank Of Greenwich is a smaller bank specializing in Home Purchase and Refi loans. The First Bank Of Greenwich has a high proportion of conventional loans. Their top markets by origination volume include: Bridgeport, New York, and New Haven among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

The First Bank Of Greenwich has an 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

52

Origination Dollar Volume (All Markets)

$36,590,000

Employee count

48

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
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 42 $32,200,000 $766,667 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 9 $4,275,000 $475,000 $0 0.00%
NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
The First Bank Of Greenwich's top markets include Bridgeport, New York, and New Haven among others.

Their top states include:
  • Connecticut (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 52 $36,590,000 $703,654 $0 0.00%

    For 2019, The First Bank Of Greenwich's most frequently originated type of loan was Conventional, with 52 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 25 $13,115,000 $524,600 $0 0.00%
    Cash Out Refi 14 $6,900,000 $492,857 $0 0.00%
    Refi 9 $9,665,000 $1,073,889 $0 0.00%
    Home Improvement 2 $5,430,000 $2,715,000 $0 0.00%
    Other 2 $1,480,000 $740,000 $0 0.00%

    For 2019, The First Bank Of Greenwich's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Cash Out Refi, with 14 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 52 $36,590,000 $703,654 $0 0.00%

    For 2019, The First Bank Of Greenwich's most frequently cited loan duration was Other, with 52 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 14 $3,970,000 $283,571 $0 0.00%
    $1MM+ 12 $19,570,000 $1,630,833 $0 0.00%
    $600k-1MM 12 $8,640,000 $720,000 $0 0.00%
    $400k-600k 8 $3,640,000 $455,000 $0 0.00%
    $100k-200k 5 $715,000 $143,000 $0 0.00%
    $100,000 or less 1 $55,000 $55,000 $0 0.00%

    2019 saw The First Bank Of Greenwich place emphasis on $200k-400k loans with 14 originations, totaling $3,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 17 $11,105,000 $653,235 $0 0.00%
    $250k+ 13 $10,325,000 $794,231 $0 0.00%
    $50k-75k 4 $880,000 $220,000 $0 0.00%
    $50k or less 3 $575,000 $191,667 $0 0.00%
    $75k-100k 3 $815,000 $271,667 $0 0.00%
    $100k-150k 2 $840,000 $420,000 $0 0.00%

    The First Bank Of Greenwich lent most frequently to those with incomes in the $150k-250k range, with 17 originations. The second most popular income band? $250k+, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 52 $36,590,000 $703,654 $0 0.00%

    The First Bank Of Greenwich lent most frequently to those with DTI ratios of Exempt%, with 52 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 42 $23,940,000 $570,000 $0 0.00%
    Not applicable 9 $11,995,000 $1,332,778 $0 0.00%
    Black 1 $655,000 $655,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.04%

    The First Bank Of Greenwich has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.00%

    The First Bank Of Greenwich has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 52 $36,590,000 $703,654

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $8,015,000 $2,671,667
    Single Family (1-4 Units):Site-Built 49 $28,575,000 $583,163

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The First Bank of Greenwich 444 East Putnam Avenue Cos Cob, CT 6807 Full Service B&M $241,053
    The First Bank of Greenwich 500 Westchester Avenue Port Chester, NY 10573 Full Service B&M $31,716
    The First Bank of Greenwich 900 Summer Street Stamford, CT 6905 Full Service Retail $40,735

    For 2019, The First Bank Of Greenwich had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,035
    Net interest income $10,421
    Total noninterest income $788
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $362
    Trading account gains and fees $0
    Additional Noninterest Income $426
    Pre-tax net operating income $2,060
    Securities gains (or losses, -) $2
    Income before extraordinary items $1,562
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,562
    Minority interest net income $0
    Net income $1,562
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,560

    The First Bank Of Greenwich's gross interest income from loans was $16,035,000.
    The First Bank Of Greenwich's net interest income from loans was $10,421,000.
    The First Bank Of Greenwich's fee based income from loans was $362,000.
    The First Bank Of Greenwich's net income from loans was $1,562,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,614
    Provision for credit losses $140
    Total noninterest expense $9,009
    Salaries and employee benefits $4,735
    Premises and equipment expense $1,264
    Additional noninterest expense $3,010
    Applicable income taxes $500
    Net charge-offs $0
    Cash dividends $288

    The First Bank Of Greenwich's interest expense for loans was $5,614,000.
    The First Bank Of Greenwich's payroll and benefits expense were $4,735,000.
    The First Bank Of Greenwich's property, plant and equipment expenses $1,264,000.

    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 3.0%
    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 $308,828
    Deposits held in domestic offices $308,828
    Deposits by Individuals, partnerships, and corporations $308,828
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $75,406
    Demand deposits $75,221
    Nontransaction accounts $233,422
    Money market deposit accounts (MMDAs) $74,851
    Other savings deposits (excluding MMDAs) $27,062
    Total time deposits $131,509
    Total time and savings deposits $233,607
    Noninterest-bearing deposits $66,051
    Interest-bearing deposits $242,776
    Retail deposits $244,418
    IRAs and Keogh plan accounts $10,563
    Brokered deposits $13,915
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $385,200
    Cash & Balances due from depository institutions $17,316
    Interest-bearing balances $16,302
    Total securities $15,001
    Federal funds sold & reverse repurchase $0
    Net loans and leases $339,716
    Loan and leases loss allowance $3,303
    Trading account assets $0
    Bank premises and fixed assets $1,282
    Other real estate owned $3,406
    Goodwill and other intangibles $139
    All other assets $8,340

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $385,200
    Total Liabilities $347,001
    Total deposits $308,828
    Interest-bearing deposits $242,776
    Deposits held in domestic offices $308,828
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $33,800
    Subordinated debt $0
    All other liabilities $4,373

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $339,716
    Loan and leases loss allowance $3,303
    Total loans and leases (domestic) $343,019
    All real estate loans $306,979
    Real estate loans in domestic offices $306,979
    Construction and development loans $12,700
    Residential 1-4 family construction $7,837
    Other construction, all land development and other land $4,863
    Loans secured by nonfarm nonresidential properties $125,835
    Nonfarm nonresidential secured by owner-occupied properties $54,269
    Commercial real estate & other non-farm, non-residential $71,566
    Multifamily residential real estate $20,282
    1-4 family residential loans $148,162
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $35,211
    To non-U.S. addressees $0
    Loans to individuals $784
    Credit card loans $0
    Related Plans $609
    Consumer Auto Loans $11
    Other loans to individuals $164
    All other loans & leases $45
    Loans to foreign governments and official institutions $0
    Other loans $45
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $299
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,439
    Non 1-4 family restructured loans & leases $1,439
    Total loans and leases (foreign) $0

    The First Bank of Greenwich had $339,716,000 of loans outstanding in 2019. $306,979,000 of loans were in real estate loans. $12,700,000 of loans were in development loans. $20,282,000 of loans were in multifamily mortgage loans. $148,162,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $11,000 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 68 $32,555 $478,750
    Nonfarm, nonresidential loans - $100-250k 6 $875 $145,833
    Nonfarm, nonresidential loans - $250k-1MM 62 $31,680 $510,968
    Commercial & Industrial, US addressed loans - <$1MM 137 $21,665 $158,139
    Commercial & Industrial, US addressed loans - <$100k 76 $4,345 $57,171
    Commercial & Industrial, US addressed loans - $100-250k 28 $3,595 $128,393
    Commercial & Industrial, US addressed loans - $250k-1MM 33 $13,725 $415,909