First National Bank Mortgage Rates, Fees & Info

Damariscotta, ME

LEI: 5493002J7RM1JLAXN553

Tax ID: 01-0067810

5 stars - out of 5 stars, based on 34 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First National Bank is a smaller bank specializing in Home Purchase and Refi loans. First National Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Bangor, Portland, Augusta, Lewiston, and Hilton Head Island among others. First National 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 National Bank is typically an average fee lendor.


Originations

1,188

Origination Dollar Volume (All Markets)

$296,500,000

Employee count

267

Awards

First National Bank 30 Year Conventional Loans bronze First National Bank VA Loans silver First National Bank VA Loans bronze
Show all (3) awards

Relative Rate

First National Bank's average 30 year fixed rate mortgage of loans were 3.27%.

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

This yields a difference of 0.12%.

Relative Fees

First National Bank's average total fees for a 30 year fixed rate mortgage are $4,073.

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
Outside of Metro Areas 945 $238,775,000 $252,672 $3,908 3.29%
BANGOR, ME (FHA|USDA|VA) 158 $34,900,000 $220,886 $3,737 3.97%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 44 $11,670,000 $265,227 $4,175 3.33%
Augusta-Waterville, ME (FHA|USDA|VA) 26 $5,910,000 $227,308 $4,284 3.57%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 14 $3,320,000 $237,143 $4,052 4.07%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $1,925,000 $1,925,000 $7,099 3.00%

First National Bank's top markets include Bangor, Portland, Augusta, Lewiston, and Hilton Head Island among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,161 $290,355,000 $250,090 $3,901 3.41%
VA 16 $4,480,000 $280,000 $4,628 2.94%
USDA 11 $1,665,000 $151,364 $4,366 2.93%

For the 2021 period, First National Bank's most frequently originated loan type of loans were Conventional, with 1,161 originations. Their 2nd most popular type is VA, with 16 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 519 $143,155,000 $275,829 $4,430 3.64%
Refi 333 $80,885,000 $242,898 $3,270 3.17%
Cash Out Refi 254 $57,770,000 $227,441 $4,187 3.00%
Home Improvement 50 $7,650,000 $153,000 $2,334 4.16%
Other 32 $7,040,000 $220,000 $2,558 3.62%

For the 2021, First National Bank's most frequently cited loan purpose of loans were Home Purchase, with 519 originations. The 2nd most popular reason of loans were Refi, with 333 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 474 $136,220,000 $287,384 $4,073 3.27%
Other 232 $57,090,000 $246,078 $3,884 4.21%
15 Year 217 $42,645,000 $196,521 $3,303 2.74%
30+ year 133 $38,995,000 $293,195 $5,070 3.52%
20 Year 94 $18,090,000 $192,447 $3,638 3.20%
10 Year 31 $3,215,000 $103,710 $1,893 3.51%
5 Year 7 $245,000 $35,000 $501 4.34%

For the 2021, First National Bank's most frequently cited loan length of loans were 30 Year, with 474 originations. The 2nd most popular length of loans were Other, with 232 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 490 $119,700,000 $244,286
$1k-2k 272 $56,920,000 $209,265
$2k-3k 108 $32,630,000 $302,130
$3k-4k 76 $25,850,000 $340,132
$5k+ 19 $7,015,000 $369,211

$4,073 of loans were First National Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 490 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 506 $138,540,000 $273,794
2.5-3% 297 $76,625,000 $257,997
4-5% 233 $50,015,000 $214,657
<2.5% 146 $31,120,000 $213,151
5-6% 6 $200,000 $33,333

During 2021, First National Bank's average interest rate of loans were 3.27%, while their most frequently originated rate bucket of loans were 3-4%, with 506 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 455 $124,035,000 $272,604 $4,384 3.31%
$100k-200k 437 $65,725,000 $150,400 $3,456 3.35%
$100,000 or less 148 $9,150,000 $61,824 $2,229 3.73%
$400k-600k 98 $46,810,000 $477,653 $5,096 3.45%
$600k-1MM 37 $27,905,000 $754,189 $5,080 3.48%
$1MM+ 13 $22,875,000 $1,759,615 $8,241 3.38%

2021 saw First National Bank place emphasis on $200k-400k loans with 455 originations, totaling $124,035,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 228 $57,870,000 $253,816 $4,303 3.21%
$50k-75k 217 $38,845,000 $179,009 $3,536 3.28%
$50k or less 174 $22,550,000 $129,598 $3,220 3.35%
$75k-100k 166 $33,960,000 $204,578 $3,806 3.27%
$150k-250k 147 $45,585,000 $310,102 $4,237 3.22%
$250k+ 98 $55,000,000 $561,224 $4,896 3.21%

First National Bank lent most frequently to those with incomes in the $100k-150k range, with 228 originations. The second most popular income band? $50k-75k, with 217 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 235 $50,685,000 $215,681 $3,883 3.11%
30-36% 209 $50,705,000 $242,608 $3,939 3.22%
<20% 110 $34,670,000 $315,182 $3,841 3.10%
42% 39 $9,305,000 $238,590 $4,450 3.29%
36% 38 $9,040,000 $237,895 $4,007 3.21%
44% 34 $10,450,000 $307,353 $4,031 3.32%
40% 32 $6,310,000 $197,188 $3,429 3.43%
39% 30 $7,020,000 $234,000 $3,738 3.27%
41% 30 $7,730,000 $257,667 $3,961 3.25%
38% 29 $10,765,000 $371,207 $4,245 3.34%
43% 29 $7,595,000 $261,897 $4,505 3.27%
45% 28 $5,560,000 $198,571 $3,515 3.25%
49% 25 $7,305,000 $292,200 $4,771 2.92%
37% 24 $6,530,000 $272,083 $3,523 3.25%
47% 23 $5,485,000 $238,478 $3,645 3.14%
46% 15 $5,105,000 $340,333 $4,056 3.01%
50-60% 15 $3,555,000 $237,000 $3,045 3.49%
48% 11 $2,255,000 $205,000 $3,691 3.02%
>60% 9 $2,045,000 $227,222 $3,634 3.06%

First National Bank lent most frequently to those with DTI ratios of 20-30%, with 235 originations. The next most common DTI ratio? 30-36%, with 209 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 898 $218,220,000 $243,007 $3,902 3.25%
Not applicable 145 $40,055,000 $276,241 $0 4.29%
Not provided 115 $30,595,000 $266,043 $4,177 3.31%
Asian 10 $3,240,000 $324,000 $3,310 3.75%
American Indian 9 $2,465,000 $273,889 $3,541 3.47%
Black 10 $1,760,000 $176,000 $3,550 3.73%
Vietnamese 1 $165,000 $165,000 $3,042 3.38%

Approval Rates

Total approvals of all applications
91.31%

First National Bank has an average approval rate.

Pick Rate

Approvals leading to origination
86.25%

First National Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,188 $296,500,000 $249,579

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,188 $296,500,000 $249,579

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 115 $20,205,000 $175,696 $3,157 3.08%
40-60% 231 $54,545,000 $236,126 $3,366 3.07%
60-80% 510 $128,110,000 $251,196 $4,242 3.46%
80-100% 290 $88,940,000 $306,690 $4,592 3.56%
Over 100% 3 $1,005,000 $335,000 $9,621 3.67%
Under 20% 39 $3,695,000 $94,744 $1,465 4.15%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Trouble during payment process 1 25.0%
FIRST NATIONAL BANK OF OMAHA FHA mortgage Improper use of your report 1 25.0%
FIRST NATIONAL BANK OF OMAHA Other type of mortgage Struggling to pay mortgage 1 25.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
First National Bank 132 Park Street Rockland, ME 4841 Full Service B&M $80,993
First National Bank 145 Exchange Street Bangor, ME 4401 Full Service B&M $75,356
First National Bank 3 Summit Road Northeast Harbor, ME 4662 Full Service B&M $19,581
First National Bank 194 Beechland Road Ellsworth, ME 4605 Full Service B&M $90,708
First National Bank 223 Main St Damariscotta, ME 4543 Full Service B&M $817,492
First National Bank 1 Belmont Avenue Belfast, ME 4915 Full Service B&M $19,403
First National Bank 1 South Street Blue Hill, ME 4614 Full Service Retail $60,630
First National Bank 102 Main Street Bar Harbor, ME 4609 Full Service B&M $131,082
First National Bank 102 Washington Street Eastport, ME 4631 Full Service B&M $39,116
First National Bank 114 Commercial Street Rockport, ME 4856 Full Service B&M $58,139
First National Bank 1471 Atlantic Highway Waldoboro, ME 4572 Full Service B&M $96,339
First National Bank 319 North Street Calais, ME 4619 Full Service B&M $62,337
First National Bank 350 Main Street Southwest Harbor, ME 4679 Full Service B&M $48,373
First National Bank 39 Gardiner Road Wiscasset, ME 4578 Full Service B&M $73,613
First National Bank 44 Elm Street Camden, ME 4843 Full Service B&M $38,414
First National Bank 63 Union Street Rockland, ME 4841 Full Service B&M $82,851
First National Bank 77 Oak Street Boothbay Harbor, ME 4538 Full Service B&M $168,291

For 2021, First National Bank had 17 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $78,392
Net interest income $67,613
Total noninterest income $18,141
Gross Fiduciary activities income $4,529
Service charges on deposit accounts $1,568
Trading account gains and fees $0
Additional Noninterest Income $12,044
Pre-tax net operating income $45,038
Securities gains (or losses, -) $23
Income before extraordinary items $37,148
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $37,148
Minority interest net income $0
Net income $37,148
Sale, conversion, retirement of capital stock, net $0
Net operating income $37,129

First National Bank's gross interest income from loans was $78,392,000.
First National Bank's net interest income from loans was $67,613,000.
First National Bank's fee based income from loans was $1,568,000.
First National Bank's net income from loans was $37,148,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $10,779
Provision for credit losses $-375
Total noninterest expense $41,091
Salaries and employee benefits $21,123
Premises and equipment expense $7,335
Additional noninterest expense $12,633
Applicable income taxes $7,913
Net charge-offs $357
Cash dividends $13,400

First National Bank's interest expense for loans was $10,779,000.
First National Bank's payroll and benefits expense were $21,123,000.
First National Bank's property, plant and equipment expenses $7,335,000.

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 $2,124,698
Deposits held in domestic offices $2,124,698
Deposits by Individuals, partnerships, and corporations $2,011,992
Deposits by U.S. Government $252
Deposits by States and political subdivisions in the U.S. $93,841
Deposits by Commercial banks and other depository institutions in U.S. $18,613
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $268,296
Demand deposits $196,714
Nontransaction accounts $1,856,402
Money market deposit accounts (MMDAs) $206,901
Other savings deposits (excluding MMDAs) $1,083,296
Total time deposits $566,205
Total time and savings deposits $1,927,984
Noninterest-bearing deposits $335,781
Interest-bearing deposits $1,788,917
Retail deposits $1,775,110
IRAs and Keogh plan accounts $59,255
Brokered deposits $294,162
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,496,194
Cash & Balances due from depository institutions $87,312
Interest-bearing balances $66,678
Total securities $690,606
Federal funds sold & reverse repurchase $0
Net loans and leases $1,632,963
Loan and leases loss allowance $15,521
Trading account assets $2,590
Bank premises and fixed assets $29,001
Other real estate owned $0
Goodwill and other intangibles $6,037
All other assets $47,685

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,496,194
Total Liabilities $2,279,603
Total deposits $2,124,698
Interest-bearing deposits $1,788,917
Deposits held in domestic offices $2,124,698
% insured (estimated) $89
Federal funds purchased and repurchase agreements $81,252
Trading liabilities $0
Other borrowed funds $55,091
Subordinated debt $0
All other liabilities $18,562

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,632,963
Loan and leases loss allowance $15,521
Total loans and leases (domestic) $1,648,484
All real estate loans $1,312,575
Real estate loans in domestic offices $1,312,575
Construction and development loans $111,128
Residential 1-4 family construction $31,763
Other construction, all land development and other land $79,365
Loans secured by nonfarm nonresidential properties $509,547
Nonfarm nonresidential secured by owner-occupied properties $218,172
Commercial real estate & other non-farm, non-residential $291,375
Multifamily residential real estate $65,579
1-4 family residential loans $625,249
Farmland loans $1,072
Loans held in foreign offices $0
Farm loans $39,103
Commercial and industrial loans $225,039
To non-U.S. addressees $0
Loans to individuals $22,976
Credit card loans $0
Related Plans $8,338
Consumer Auto Loans $3,376
Other loans to individuals $11,262
All other loans & leases $48,790
Loans to foreign governments and official institutions $0
Other loans $427
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 $709
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

First National Bank had $1,632,963,000 of loans outstanding in 2021. $1,312,575,000 of loans were in real estate loans. $111,128,000 of loans were in development loans. $65,579,000 of loans were in multifamily mortgage loans. $625,249,000 of loans were in 1-4 family mortgage loans. $39,103,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,376,000 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 685 $166,708 $243,369
Nonfarm, nonresidential loans - <$100k 124 $4,877 $39,331
Nonfarm, nonresidential loans - $100-250k 234 $31,844 $136,085
Nonfarm, nonresidential loans - $250k-1MM 327 $129,987 $397,514
Commercial & Industrial, US addressed loans - <$1MM 1,776 $107,229 $60,377
Commercial & Industrial, US addressed loans - <$100k 1,338 $22,306 $16,671
Commercial & Industrial, US addressed loans - $100-250k 242 $25,671 $106,079
Commercial & Industrial, US addressed loans - $250k-1MM 196 $59,252 $302,306
Farmland loans - <$1MM 7 $1,072 $153,143
Farmland loans - <$100k 2 $66 $33,000
Farmland loans - $100-250k 3 $330 $110,000
Farmland loans - $250k-1MM 2 $676 $338,000
Agriculture operations loans - <$1MM 202 $18,229 $90,243
Agriculture operations loans - <$100k 111 $3,539 $31,883
Agriculture operations loans - $100-250k 61 $6,729 $110,311
Agriculture operations loans - $250k-1MM 30 $7,961 $265,367