First Western Bank Mortgage Rates, Fees & Info

Booneville, AR

LEI: 54930013SG5BXUL3G429

Tax ID: 71-0031220

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

First Western Bank is a smaller bank specializing in Home Purchase and Refi loans. First Western Bank has a high proportion of conventional loans. Their top markets by origination volume include: Fayetteville, Fort Smith, and Russellville among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Western Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

180

Origination Dollar Volume (All Markets)

$38,400,000

Employee count

104

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
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA\|USDA\|VA)	109	$25,225,000	$231,422	$0	0.00%
FORT SMITH, AR-OK (FHA\|USDA\|VA)	44	$10,730,000	$243,864	$0	0.00%
Outside of Metro Areas	26	$2,380,000	$91,538	$0	0.00%
Russellville, AR (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	0.00%

First Western Bank's top markets include Fayetteville, Fort Smith, and Russellville among others.

Their top states include:

Arkansas (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	180	$38,400,000	$213,333	$0	0.00%

For 2018, First Western Bank's most frequently originated type of loan was Conventional, with 180 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	123	$25,215,000	$205,000	$0	0.00%
Refi	45	$12,005,000	$266,778	$0	0.00%
Home Improvement	6	$870,000	$145,000	$0	0.00%
Other	6	$310,000	$51,667	$0	0.00%

For 2018, First Western Bank's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Refi, with 45 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	180	$38,400,000	$213,333	$0	0.00%

For 2018, First Western Bank's most frequently cited loan duration was Other, with 180 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	70	$9,600,000	$137,143	$0	0.00%
$100,000 or less	60	$3,410,000	$56,833	$0	0.00%
$200k-400k	34	$8,920,000	$262,353	$0	0.00%
$1MM+	7	$10,855,000	$1,550,714	$0	0.00%
$400k-600k	6	$2,940,000	$490,000	$0	0.00%
$600k-1MM	3	$2,675,000	$891,667	$0	0.00%

2018 saw First Western Bank place emphasis on $100k-200k loans with 70 originations, totaling $9,600,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	16	$1,640,000	$102,500	$0	0.00%
$50k or less	16	$1,070,000	$66,875	$0	0.00%
$250k+	15	$4,735,000	$315,667	$0	0.00%
$150k-250k	11	$1,485,000	$135,000	$0	0.00%
$75k-100k	10	$910,000	$91,000	$0	0.00%
$100k-150k	7	$735,000	$105,000	$0	0.00%

First Western Bank lent most frequently to those with incomes in the $50k-75k range, with 16 originations. The second most popular income band? $50k or less, with 16 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	180	$38,400,000	$213,333	$0	0.00%

First Western Bank lent most frequently to those with DTI ratios of Exempt%, with 180 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	99	$26,825,000	$270,960	$0	0.00%
White	77	$11,175,000	$145,130	$0	0.00%
American Indian	2	$270,000	$135,000	$0	0.00%
Asian	2	$130,000	$65,000	$0	0.00%

Approval Rates

Total approvals of all applications
98.98%

First Western 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
91.67%

First Western Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	180	$38,400,000	$213,333

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	17	$14,705,000	$865,000
Single Family (1-4 Units):Manufactured	4	$290,000	$72,500
Single Family (1-4 Units):Site-Built	159	$23,405,000	$147,201

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	3	21.4%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	5	35.7%
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	7.1%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Incorrect information on your report	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Problem with a credit reporting company's investigation into an existing problem	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	7.1%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Western Bank	1108 South Walton Blvd Bentonville, AR 72712	Full Service B&M	$10,629
First Western Bank	1663 East Main Booneville, AR 72927	Full Service B&M	$6,389
First Western Bank	2601 Champions Boulevard Rogers, AR 72758	Full Service B&M	$30,735
First Western Bank	2722 West Walnut Rogers, AR 72756	Full Service B&M	$17,233
First Western Bank	401 West Walnut Rogers, AR 72756	Full Service B&M	$96,911
First Western Bank	575 Memorial Drive Bella Vista, AR 72714	Full Service B&M	$35,226
First Western Bank	80 W Main St Booneville, AR 72927	Full Service B&M	$80,347
First Western Bank	8399 Rogers Avenue, Suite A-1 Fort Smith, AR 72903	Full Service B&M	$39,095
First Western Bank	89 East Priddy Street Magazine, AR 72943	Full Service B&M	$15,453
First Western Bank	9418 West State Hwy 22 Caulksville, AR 72951	Full Service B&M	$30,182

For 2018, First Western Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$18,969
Net interest income	$14,803
Total noninterest income	$4,002
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$771
Trading account gains and fees	$0
Additional Noninterest Income	$3,231
Pre-tax net operating income	$3,992
Securities gains (or losses, -)	$0
Income before extraordinary items	$2,905
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,905
Minority interest net income	$0
Net income	$2,905
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$2,905

First Western Bank's gross interest income from loans was $18,969,000.
First Western Bank's net interest income from loans was $14,803,000.
First Western Bank's fee based income from loans was $771,000.
First Western Bank's net income from loans was $2,905,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$4,166
Provision for credit losses	$436
Total noninterest expense	$14,377
Salaries and employee benefits	$8,483
Premises and equipment expense	$2,638
Additional noninterest expense	$3,256
Applicable income taxes	$1,087
Net charge-offs	$170
Cash dividends	$1,100

First Western Bank's interest expense for loans was $4,166,000.
First Western Bank's payroll and benefits expense were $8,483,000.
First Western Bank's property, plant and equipment expenses $2,638,000.

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	$357,282
Deposits held in domestic offices	$357,282
Deposits by Individuals, partnerships, and corporations	$322,485
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$34,797
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	$19,178
Demand deposits	$5,402
Nontransaction accounts	$338,104
Money market deposit accounts (MMDAs)	$54,730
Other savings deposits (excluding MMDAs)	$108,711
Total time deposits	$174,662
Total time and savings deposits	$351,880
Noninterest-bearing deposits	$33,435
Interest-bearing deposits	$323,847
Retail deposits	$313,453
IRAs and Keogh plan accounts	$15,866
Brokered deposits	$21,777
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$424,675
Cash & Balances due from depository institutions	$13,067
Interest-bearing balances	$6,213
Total securities	$28,678
Federal funds sold & reverse repurchase	$0
Net loans and leases	$350,411
Loan and leases loss allowance	$3,566
Trading account assets	$0
Bank premises and fixed assets	$12,598
Other real estate owned	$3,694
Goodwill and other intangibles	$570
All other assets	$15,657

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$424,675
Total Liabilities	$387,885
Total deposits	$357,282
Interest-bearing deposits	$323,847
Deposits held in domestic offices	$357,282
% insured (estimated)	$88
Federal funds purchased and repurchase agreements	$1,700
Trading liabilities	$0
Other borrowed funds	$25,100
Subordinated debt	$0
All other liabilities	$3,803

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$350,411
Loan and leases loss allowance	$3,566
Total loans and leases (domestic)	$353,977
All real estate loans	$336,293
Real estate loans in domestic offices	$336,293
Construction and development loans	$60,565
Residential 1-4 family construction	$43,719
Other construction, all land development and other land	$16,846
Loans secured by nonfarm nonresidential properties	$69,635
Nonfarm nonresidential secured by owner-occupied properties	$30,195
Commercial real estate & other non-farm, non-residential	$39,440
Multifamily residential real estate	$13,860
1-4 family residential loans	$166,093
Farmland loans	$26,140
Loans held in foreign offices	$0
Farm loans	$2,142
Commercial and industrial loans	$9,959
To non-U.S. addressees	$0
Loans to individuals	$5,540
Credit card loans	$0
Related Plans	$112
Consumer Auto Loans	$2,252
Other loans to individuals	$3,176
All other loans & leases	$44
Loans to foreign governments and official institutions	$0
Other loans	$44
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$0
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 Western Bank had $350,411,000 of loans outstanding in 2018. $336,293,000 of loans were in real estate loans. $60,565,000 of loans were in development loans. $13,860,000 of loans were in multifamily mortgage loans. $166,093,000 of loans were in 1-4 family mortgage loans. $2,142,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,252,000 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	160	$29,868	$186,675
Nonfarm, nonresidential loans - <$100k	54	$2,463	$45,611
Nonfarm, nonresidential loans - $100-250k	54	$6,747	$124,944
Nonfarm, nonresidential loans - $250k-1MM	52	$20,658	$397,269
Commercial & Industrial, US addressed loans - <$1MM	202	$9,518	$47,119
Commercial & Industrial, US addressed loans - <$100k	166	$3,288	$19,807
Commercial & Industrial, US addressed loans - $100-250k	18	$1,899	$105,500
Commercial & Industrial, US addressed loans - $250k-1MM	18	$4,331	$240,611
Farmland loans - <$1MM	91	$10,226	$112,374
Farmland loans - <$100k	34	$1,320	$38,824
Farmland loans - $100-250k	33	$4,552	$137,939
Farmland loans - $250k-1MM	24	$4,354	$181,417
Agriculture operations loans - <$1MM	95	$1,965	$20,684
Agriculture operations loans - <$100k	90	$1,402	$15,578
Agriculture operations loans - $100-250k	4	$448	$112,000
Agriculture operations loans - $250k-1MM	1	$115	$115,000