First Community Bank Mortgage Rates, Fees & Info

Lexington, SC

LEI: 5493001HBUA9JSUEWO16

Tax ID: 57-1030051

5 stars - out of 5 stars, based on 27 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Community Bank is a smaller bank specializing in Home Purchase and Refi loans. First Community Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Columbia, Greenville, Augusta, Newberry, and Charlotte among others. First Community Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First Community Bank is typically an average fee lendor.


Originations

717

Origination Dollar Volume (All Markets)

$184,385,000

Employee count

250 Show all (8) awards

Relative Rate

First Community Bank's average 30 year fixed rate mortgage of loans were 3.02%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.13%.

Relative Fees

First Community Bank's average total fees for a 30 year fixed rate mortgage are $4,273.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
COLUMBIA, SC (FHA|USDA|VA) 429 $101,945,000 $237,634 $4,045 3.25%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 89 $26,275,000 $295,225 $4,817 3.17%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 68 $18,100,000 $266,176 $4,369 3.42%
Newberry, SC (FHA|USDA|VA) 46 $8,470,000 $184,130 $4,110 3.10%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 16 $7,780,000 $486,250 $7,022 3.11%
SPARTANBURG, SC (FHA|USDA|VA) 14 $7,740,000 $552,857 $4,611 3.82%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 7 $2,245,000 $320,714 $7,690 2.73%
Outside of Metro Areas 7 $1,465,000 $209,286 $3,227 2.80%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 3 $1,435,000 $478,333 $5,768 3.63%
Key West, FL (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 3.39%
Seneca, SC (FHA|USDA|VA) 6 $1,170,000 $195,000 $5,503 3.07%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 5 $1,045,000 $209,000 $4,159 3.34%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 3 $1,025,000 $341,667 $6,161 2.79%
SUMTER, SC (FHA|USDA|VA) 2 $470,000 $235,000 $3,158 2.75%
Georgetown, SC (FHA|USDA|VA) 2 $420,000 $210,000 $3,416 2.94%
FLORENCE, SC (FHA|USDA|VA) 3 $415,000 $138,333 $5,175 3.21%
Orangeburg, SC (FHA|USDA|VA) 2 $380,000 $190,000 $6,607 2.94%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $345,000 $345,000 $13,880 3.63%
Cullowhee, NC (FHA|USDA|VA) 1 $335,000 $335,000 $5,896 2.38%
Union, SC (FHA|USDA|VA) 1 $315,000 $315,000 $0 4.50%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $275,000 $275,000 $2,933 2.88%
Greenwood, SC (FHA|USDA|VA) 2 $240,000 $120,000 $1,824 2.94%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $195,000 $195,000 $4,922 3.50%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $195,000 $195,000 $525 2.88%
ASHEVILLE, NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 4.35%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,226 3.25%
Forest City, NC (FHA|USDA|VA) 1 $155,000 $155,000 $3,287 3.38%
Madisonville, KY (FHA|USDA|VA) 1 $155,000 $155,000 $4,126 2.88%
WILMINGTON, NC (FHA|USDA|VA) 1 $145,000 $145,000 $2,316 2.63%
Gaffney, SC (FHA|USDA|VA) 1 $125,000 $125,000 $0 4.75%

First Community Bank's top markets include Columbia, Greenville, Augusta, Newberry, and Charlotte among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 606 $164,030,000 $270,677 $3,877 3.30%
FHA 77 $14,505,000 $188,377 $7,383 2.95%
USDA 26 $4,000,000 $153,846 $2,846 2.86%
VA 8 $1,850,000 $231,250 $5,701 3.06%

For the 2021 period, First Community Bank's most frequently originated loan type of loans were Conventional, with 606 originations. Their 2nd most popular type is FHA, with 77 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 393 $97,255,000 $247,468 $5,143 3.41%
Refi 198 $61,320,000 $309,697 $3,120 3.00%
Cash Out Refi 110 $23,050,000 $209,545 $3,745 3.02%
Other 10 $1,860,000 $186,000 $3,047 3.12%
Home Improvement 6 $900,000 $150,000 $735 4.28%

For the 2021, First Community Bank's most frequently cited loan purpose of loans were Home Purchase, with 393 originations. The 2nd most popular reason of loans were Refi, with 198 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 464 $102,440,000 $220,776 $4,273 3.02%
15 Year 75 $14,615,000 $194,867 $3,310 2.45%
Other 63 $30,555,000 $485,000 $3,776 4.16%
5 Year 53 $12,635,000 $238,396 $1,192 4.14%
30+ year 30 $11,000,000 $366,667 $7,948 5.10%
10 Year 14 $8,950,000 $639,286 $3,267 3.04%
20 Year 13 $2,965,000 $228,077 $3,690 2.93%
1 Year 5 $1,225,000 $245,000 $8,858 4.47%

For the 2021, First Community Bank's most frequently cited loan length of loans were 30 Year, with 464 originations. The 2nd most popular length of loans were 15 Year, with 75 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 343 $72,665,000 $211,851
$<1k 92 $18,520,000 $201,304
$2k-3k 86 $16,380,000 $190,465
$3k-4k 55 $15,325,000 $278,636
$5k+ 26 $11,860,000 $456,154

$4,273 of loans were First Community Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 343 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 282 $61,750,000 $218,972
3-4% 250 $79,390,000 $317,560
4-5% 98 $24,570,000 $250,714
<2.5% 75 $15,415,000 $205,533
5-6% 12 $3,260,000 $271,667

During 2021, First Community Bank's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 2.5-3%, with 282 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 310 $46,200,000 $149,032 $3,747 3.17%
$200k-400k 240 $65,070,000 $271,125 $4,944 3.13%
$100,000 or less 79 $5,795,000 $73,354 $2,933 3.46%
$400k-600k 70 $33,770,000 $482,429 $5,238 3.51%
$1MM+ 10 $27,530,000 $2,753,000 $0 3.81%
$600k-1MM 8 $6,020,000 $752,500 $10,820 4.01%

2021 saw First Community Bank place emphasis on $100k-200k loans with 310 originations, totaling $46,200,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 142 $25,590,000 $180,211 $3,910 2.99%
$50k or less 135 $18,175,000 $134,630 $4,021 3.04%
$100k-150k 132 $36,600,000 $277,273 $4,684 3.13%
$75k-100k 97 $20,835,000 $214,794 $4,475 3.05%
$150k-250k 64 $18,690,000 $292,031 $4,847 3.37%
$250k+ 32 $13,190,000 $412,188 $4,611 3.20%

First Community Bank lent most frequently to those with incomes in the $50k-75k range, with 142 originations. The second most popular income band? $50k or less, with 135 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 165 $34,745,000 $210,576 $3,782 3.04%
30-36% 116 $27,970,000 $241,121 $4,825 3.23%
<20% 79 $16,185,000 $204,873 $3,519 2.82%
37% 31 $7,655,000 $246,935 $4,001 3.07%
39% 26 $5,840,000 $224,615 $4,413 3.34%
44% 22 $5,470,000 $248,636 $4,879 3.14%
38% 20 $5,320,000 $266,000 $5,371 3.22%
47% 17 $4,175,000 $245,588 $4,713 2.99%
36% 17 $4,225,000 $248,529 $4,426 3.14%
45% 16 $3,340,000 $208,750 $5,077 2.86%
43% 16 $3,490,000 $218,125 $3,982 2.98%
42% 15 $2,995,000 $199,667 $3,796 3.04%
49% 15 $3,185,000 $212,333 $4,183 2.98%
40% 14 $3,310,000 $236,429 $5,203 3.25%
41% 12 $2,900,000 $241,667 $4,945 3.10%
46% 11 $2,135,000 $194,091 $5,571 2.98%
50-60% 10 $1,810,000 $181,000 $6,177 3.09%
48% 9 $1,365,000 $151,667 $4,010 3.06%
>60% 2 $310,000 $155,000 $0 4.33%

First Community Bank lent most frequently to those with DTI ratios of 20-30%, with 165 originations. The next most common DTI ratio? 30-36%, with 116 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 554 $124,320,000 $224,404 $4,298 3.08%
Not applicable 98 $47,020,000 $479,796 $0 4.22%
Not provided 23 $4,735,000 $205,870 $3,898 3.19%
Black 23 $4,715,000 $205,000 $5,056 3.15%
Asian 17 $3,335,000 $196,176 $4,142 3.15%
American Indian 2 $260,000 $130,000 $3,227 3.60%

Approval Rates

Total approvals of all applications
91.90%

First Community Bank has an average approval rate.

Pick Rate

Approvals leading to origination
83.92%

First Community Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 717 $184,385,000 $257,162

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
717 $184,385,000 $257,162

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 30 $4,950,000 $165,000 $3,449 3.08%
40-60% 97 $20,145,000 $207,680 $3,531 3.10%
60-80% 324 $97,100,000 $299,691 $4,045 3.41%
80-100% 255 $61,105,000 $239,627 $4,965 3.11%
Over 100% 3 $505,000 $168,333 $3,708 2.79%
Under 20% 8 $580,000 $72,500 $2,078 3.20%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST COMMUNITY MORTGAGE, INC. Conventional home mortgage Trouble during payment process 4 66.7%
FIRST COMMUNITY MORTGAGE, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
FIRST COMMUNITY MORTGAGE, INC. Conventional home mortgage Struggling to pay mortgage 1 16.7%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
First Community Bank 101 N Wheeler Avenue Prosperity, SC 29127 Full Service B&M $35,847
First Community Bank 4325 Augusta Hwy Gilbert, SC 29054 Full Service B&M $54,149
First Community Bank 4404 Forest Drive Columbia, SC 29206 Full Service B&M $92,853
First Community Bank 45 Farrs Bridge Road Greenville, SC 29617 Full Service B&M $28,143
First Community Bank 506 Meeting Street West Columbia, SC 29169 Full Service B&M $66,392
First Community Bank 5455 Sunset Boulevard Lexington, SC 29072 Full Service B&M $169,006
First Community Bank 631 W. Dekalb Street Camden, SC 29020 Full Service B&M $38,805
First Community Bank 771 Broad St, Suite 100 Augusta, GA 30901 Full Service B&M $6,060
First Community Bank 9822 Two Notch Road Columbia, SC 29223 Full Service B&M $38,736
First Community Bank 1030 Lake Murray Boulevard Irmo, SC 29063 Full Service B&M $70,611
First Community Bank 105 N Spring St Greenville, SC 29601 Full Service B&M $12,136
First Community Bank 11000 Anderson Road Piedmont, SC 29673 Full Service B&M $25,084
First Community Bank 1200 Town Park Lane Evans, GA 30809 Full Service B&M $7,920
First Community Bank 1213 Lady Street Columbia, SC 29201 Full Service B&M $64,751
First Community Bank 127 Amicks Ferry Road Chapin, SC 29036 Full Service B&M $103,777
First Community Bank 1449 Two Notch Road Lexington, SC 29073 Full Service B&M $53,101
First Community Bank 1670 East Main Street Easley, SC 29641 Full Service B&M $92,050
First Community Bank 1735 Wilson Road Newberry, SC 29108 Full Service B&M $146,022
First Community Bank 201 Main Street Blythewood, SC 29016 Full Service B&M $23,264
First Community Bank 3638 Walton Way Extension Augusta, GA 30909 Full Service B&M $91,521
First Community Bank 407 Silver Bluff Road Sw Aiken, SC 29803 Full Service B&M $73,570

For 2021, First Community Bank had 21 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $47,508
Net interest income $45,682
Total noninterest income $13,540
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,126
Trading account gains and fees $0
Additional Noninterest Income $12,414
Pre-tax net operating income $20,819
Securities gains (or losses, -) $4
Income before extraordinary items $16,406
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $16,406
Minority interest net income $0
Net income $16,406
Sale, conversion, retirement of capital stock, net $0
Net operating income $16,402

First Community Bank's gross interest income from loans was $47,508,000.
First Community Bank's net interest income from loans was $45,682,000.
First Community Bank's fee based income from loans was $1,126,000.
First Community Bank's net income from loans was $16,406,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,826
Provision for credit losses $335
Total noninterest expense $38,068
Salaries and employee benefits $24,136
Premises and equipment expense $3,932
Additional noninterest expense $10,000
Applicable income taxes $4,417
Net charge-offs $-455
Cash dividends $4,019

First Community Bank's interest expense for loans was $1,826,000.
First Community Bank's payroll and benefits expense were $24,136,000.
First Community Bank's property, plant and equipment expenses $3,932,000.

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 $1,365,079
Deposits held in domestic offices $1,365,079
Deposits by Individuals, partnerships, and corporations $1,299,733
Deposits by U.S. Government $105
Deposits by States and political subdivisions in the U.S. $65,241
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 $779,975
Demand deposits $779,975
Nontransaction accounts $585,104
Money market deposit accounts (MMDAs) $287,419
Other savings deposits (excluding MMDAs) $143,904
Total time deposits $153,780
Total time and savings deposits $585,104
Noninterest-bearing deposits $448,376
Interest-bearing deposits $916,704
Retail deposits $1,338,431
IRAs and Keogh plan accounts $29,283
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,583,958
Cash & Balances due from depository institutions $69,030
Interest-bearing balances $47,049
Total securities $564,839
Federal funds sold & reverse repurchase $0
Net loans and leases $859,643
Loan and leases loss allowance $11,179
Trading account assets $0
Bank premises and fixed assets $35,624
Other real estate owned $1,165
Goodwill and other intangibles $15,556
All other assets $38,101

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,583,958
Total Liabilities $1,432,439
Total deposits $1,365,079
Interest-bearing deposits $916,704
Deposits held in domestic offices $1,365,079
% insured (estimated) $71
Federal funds purchased and repurchase agreements $54,216
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $13,144

Issued Loan Types

Type Value (in 000's)
Net loans and leases $859,643
Loan and leases loss allowance $11,179
Total loans and leases (domestic) $870,822
All real estate loans $792,863
Real estate loans in domestic offices $792,863
Construction and development loans $98,987
Residential 1-4 family construction $10,840
Other construction, all land development and other land $88,147
Loans secured by nonfarm nonresidential properties $491,046
Nonfarm nonresidential secured by owner-occupied properties $244,013
Commercial real estate & other non-farm, non-residential $247,033
Multifamily residential real estate $24,882
1-4 family residential loans $176,692
Farmland loans $1,256
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $41,063
To non-U.S. addressees $0
Loans to individuals $8,573
Credit card loans $0
Related Plans $3,135
Consumer Auto Loans $3
Other loans to individuals $5,435
All other loans & leases $28,323
Loans to foreign governments and official institutions $0
Other loans $58
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 $1,214
Non 1-4 family restructured loans & leases $1,174
Total loans and leases (foreign) $0

First Community Bank had $859,643,000 of loans outstanding in 2021. $792,863,000 of loans were in real estate loans. $98,987,000 of loans were in development loans. $24,882,000 of loans were in multifamily mortgage loans. $176,692,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,000 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 801 $192,240 $240,000
Nonfarm, nonresidential loans - <$100k 165 $7,323 $44,382
Nonfarm, nonresidential loans - $100-250k 243 $31,220 $128,477
Nonfarm, nonresidential loans - $250k-1MM 393 $153,697 $391,087
Commercial & Industrial, US addressed loans - <$1MM 586 $27,754 $47,362
Commercial & Industrial, US addressed loans - <$100k 438 $9,346 $21,338
Commercial & Industrial, US addressed loans - $100-250k 94 $6,621 $70,436
Commercial & Industrial, US addressed loans - $250k-1MM 54 $11,787 $218,278
Farmland loans - <$1MM 10 $1,256 $125,600
Farmland loans - <$100k 4 $141 $35,250
Farmland loans - $100-250k 5 $859 $171,800
Farmland loans - $250k-1MM 1 $256 $256,000