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, Crestview, Magnolia, and Tulsa among others. We have data for 6 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

167

Origination Dollar Volume (All Markets)

$46,235,000

Employee count

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)	98	$32,580,000	$332,449	$0	0.00%
FORT SMITH, AR-OK (FHA\|USDA\|VA)	30	$5,520,000	$184,000	$0	0.00%
Outside of Metro Areas	35	$4,455,000	$127,286	$0	0.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA\|USDA\|VA)	2	$3,040,000	$1,520,000	$0	0.00%
Magnolia, AR (FHA\|USDA\|VA)	1	$365,000	$365,000	$0	0.00%
TULSA, OK (FHA\|USDA\|VA)	1	$275,000	$275,000	$0	0.00%

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

Their top states include:

Arkansas (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Missouri (FHA|USDA|VA)

Oklahoma (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	167	$46,235,000	$276,856	$0	0.00%

For 2020, First Western Bank's most frequently originated type of loan was Conventional, with 167 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	111	$28,445,000	$256,261	$0	0.00%
Refi	48	$16,610,000	$346,042	$0	0.00%
Home Improvement	7	$1,135,000	$162,143	$0	0.00%
Other	1	$45,000	$45,000	$0	0.00%

For 2020, First Western Bank's most frequently cited loan purpose was Home Purchase, with 111 originations. The 2nd most popular reason was Refi, with 48 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	167	$46,235,000	$276,856	$0	0.00%

For 2020, First Western Bank's most frequently cited loan duration was Other, with 167 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	49	$13,045,000	$266,224	$0	0.00%
$100k-200k	48	$7,220,000	$150,417	$0	0.00%
$100,000 or less	44	$2,860,000	$65,000	$0	0.00%
$600k-1MM	11	$7,675,000	$697,727	$0	0.00%
$400k-600k	9	$4,695,000	$521,667	$0	0.00%
$1MM+	6	$10,740,000	$1,790,000	$0	0.00%

2020 saw First Western Bank place emphasis on $200k-400k loans with 49 originations, totaling $13,045,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	15	$2,005,000	$133,667	$0	0.00%
$150k-250k	13	$2,425,000	$186,538	$0	0.00%
$50k or less	13	$905,000	$69,615	$0	0.00%
$250k+	10	$6,030,000	$603,000	$0	0.00%
$50k-75k	7	$1,075,000	$153,571	$0	0.00%
$75k-100k	6	$950,000	$158,333	$0	0.00%

First Western Bank lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $150k-250k, with 13 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	167	$46,235,000	$276,856	$0	0.00%

First Western Bank lent most frequently to those with DTI ratios of Exempt%, with 167 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	99	$31,785,000	$321,061	$0	0.00%
White	65	$13,625,000	$209,615	$0	0.00%
Asian Indian	1	$495,000	$495,000	$0	0.00%
Asian	1	$305,000	$305,000	$0	0.00%
Native Hawaiian or Islander	1	$25,000	$25,000	$0	0.00%

Approval Rates

Total approvals of all applications
97.86%

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
90.42%

First Western Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	167	$46,235,000	$276,856

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	10	$10,640,000	$1,064,000
Single Family (1-4 Units):Manufactured	3	$235,000	$78,333
Single Family (1-4 Units):Site-Built	154	$35,360,000	$229,610

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	6.7%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	2	13.3%
FIRST HORIZON BANK	Other type of mortgage	Struggling to pay mortgage	1	6.7%
FIRST HORIZON BANK	Other type of mortgage	Closing on a mortgage	2	13.3%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	6.7%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	3	20.0%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	4	26.7%
FIRST HORIZON BANK	Conventional home mortgage	Closing on a mortgage	1	6.7%

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	$21,541
First Western Bank	1663 East Main Booneville, AR 72927	Full Service B&M	$8,967
First Western Bank	2601 Champions Boulevard Rogers, AR 72758	Full Service B&M	$52,552
First Western Bank	2722 West Walnut Rogers, AR 72756	Full Service B&M	$18,525
First Western Bank	401 West Walnut Rogers, AR 72756	Full Service B&M	$114,448
First Western Bank	575 Memorial Drive Bella Vista, AR 72714	Full Service B&M	$39,257
First Western Bank	7322 West Sunset Avenue, Suite D Springdale, AR 72762	Full Service B&M	$2,148
First Western Bank	80 W Main St Booneville, AR 72927	Full Service B&M	$85,732
First Western Bank	8399 Rogers Avenue, Suite A-1 Fort Smith, AR 72903	Full Service B&M	$46,545
First Western Bank	89 East Priddy Street Magazine, AR 72943	Full Service B&M	$18,086
First Western Bank	9418 West State Hwy 22 Caulksville, AR 72951	Full Service B&M	$31,531

For 2020, First Western Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$22,870
Net interest income	$18,207
Total noninterest income	$5,442
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$692
Trading account gains and fees	$0
Additional Noninterest Income	$4,750
Pre-tax net operating income	$8,423
Securities gains (or losses, -)	$4
Income before extraordinary items	$6,285
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$6,285
Minority interest net income	$0
Net income	$6,285
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$6,281

First Western Bank's gross interest income from loans was $22,870,000.
First Western Bank's net interest income from loans was $18,207,000.
First Western Bank's fee based income from loans was $692,000.
First Western Bank's net income from loans was $6,285,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$4,663
Provision for credit losses	$840
Total noninterest expense	$14,386
Salaries and employee benefits	$8,210
Premises and equipment expense	$3,150
Additional noninterest expense	$3,026
Applicable income taxes	$2,142
Net charge-offs	$0
Cash dividends	$1,800

First Western Bank's interest expense for loans was $4,663,000.
First Western Bank's payroll and benefits expense were $8,210,000.
First Western Bank's property, plant and equipment expenses $3,150,000.

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	$451,787
Deposits held in domestic offices	$451,787
Deposits by Individuals, partnerships, and corporations	$412,513
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$39,274
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	$149,721
Demand deposits	$53,936
Nontransaction accounts	$302,066
Money market deposit accounts (MMDAs)	$152,696
Other savings deposits (excluding MMDAs)	$28,988
Total time deposits	$120,382
Total time and savings deposits	$397,851
Noninterest-bearing deposits	$53,936
Interest-bearing deposits	$397,851
Retail deposits	$434,797
IRAs and Keogh plan accounts	$15,525
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$499,831
Cash & Balances due from depository institutions	$32,959
Interest-bearing balances	$26,689
Total securities	$31,729
Federal funds sold & reverse repurchase	$10,500
Net loans and leases	$388,120
Loan and leases loss allowance	$4,679
Trading account assets	$0
Bank premises and fixed assets	$13,287
Other real estate owned	$1,099
Goodwill and other intangibles	$570
All other assets	$21,567

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$499,831
Total Liabilities	$455,469
Total deposits	$451,787
Interest-bearing deposits	$397,851
Deposits held in domestic offices	$451,787
% insured (estimated)	$79
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$3,682

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$388,120
Loan and leases loss allowance	$4,679
Total loans and leases (domestic)	$392,799
All real estate loans	$356,845
Real estate loans in domestic offices	$356,845
Construction and development loans	$53,101
Residential 1-4 family construction	$35,427
Other construction, all land development and other land	$17,674
Loans secured by nonfarm nonresidential properties	$78,288
Nonfarm nonresidential secured by owner-occupied properties	$34,329
Commercial real estate & other non-farm, non-residential	$43,959
Multifamily residential real estate	$9,784
1-4 family residential loans	$176,181
Farmland loans	$39,491
Loans held in foreign offices	$0
Farm loans	$2,794
Commercial and industrial loans	$28,890
To non-U.S. addressees	$0
Loans to individuals	$4,245
Credit card loans	$0
Related Plans	$132
Consumer Auto Loans	$1,862
Other loans to individuals	$2,251
All other loans & leases	$24
Loans to foreign governments and official institutions	$0
Other loans	$24
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 $388,120,000 of loans outstanding in 2020. $356,845,000 of loans were in real estate loans. $53,101,000 of loans were in development loans. $9,784,000 of loans were in multifamily mortgage loans. $176,181,000 of loans were in 1-4 family mortgage loans. $2,794,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,862,000 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	139	$29,294	$210,748
Nonfarm, nonresidential loans - <$100k	40	$1,843	$46,075
Nonfarm, nonresidential loans - $100-250k	46	$6,425	$139,674
Nonfarm, nonresidential loans - $250k-1MM	53	$21,026	$396,717
Commercial & Industrial, US addressed loans - <$1MM	301	$15,686	$52,113
Commercial & Industrial, US addressed loans - <$100k	252	$5,702	$22,627
Commercial & Industrial, US addressed loans - $100-250k	25	$3,014	$120,560
Commercial & Industrial, US addressed loans - $250k-1MM	24	$6,970	$290,417
Farmland loans - <$1MM	113	$12,662	$112,053
Farmland loans - <$100k	56	$1,843	$32,911
Farmland loans - $100-250k	32	$4,357	$136,156
Farmland loans - $250k-1MM	25	$6,462	$258,480
Agriculture operations loans - <$1MM	86	$2,044	$23,767
Agriculture operations loans - <$100k	81	$1,476	$18,222
Agriculture operations loans - $100-250k	5	$568	$113,600