First National Bank Mortgage Rates, Fees & Info

Damariscotta, ME

LEI: 5493002J7RM1JLAXN553

Tax ID: 01-0067810

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

Review & Overview

First National Bank is a smaller bank specializing in Refi and Home Purchase loans. First National Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Bangor, Portland, Lewiston, Augusta, and Naples among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

First National Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. First National Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
Home Equity Line of Credit (HELOC)	6.27%	12/23/24
30 Year Conventional Purchase	6.83%	12/23/24
30 Year Conventional Refi	6.65%	12/23/24
30 Year Cash-out Refi	6.62%	12/23/24
30 Year VA Purchase	6.22%	12/23/24
30 Year VA Refi	6.77%	12/23/24
30 Year USDA Purchase	5.94%	12/23/24
15 Year Conventional Purchase	6.43%	12/23/24
15 Year Conventional Refi	6.42%	12/23/24
15 Year Cash-out Refi	6.42%	12/23/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

First National Bank Mortgage Calculator

Purchase Price:

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% Deposit:

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This is not an official calculator from First National Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

1,274

Origination Dollar Volume (All Markets)

$302,780,000

Employee count

250

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
Outside of Metro Areas	1,066	$248,760,000	$233,358	$3,587	3.29%
BANGOR, ME (FHA\|USDA\|VA)	131	$26,935,000	$205,611	$3,251	3.79%
PORTLAND-SOUTH PORTLAND, ME (FHA\|USDA\|VA)	46	$13,460,000	$292,609	$4,092	3.31%
LEWISTON-AUBURN, ME (FHA\|USDA\|VA)	8	$10,490,000	$1,311,250	$1,371	3.95%
Augusta-Waterville, ME (FHA\|USDA\|VA)	22	$2,880,000	$130,909	$3,641	3.71%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$255,000	$255,000	$0	4.25%

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

Their top states include:

Maine (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against First National Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Piscataqua Savings Bank
Similarity Rank: 136

MAINE HIGHLANDS FEDERAL CREDIT UNION
Similarity Rank: 148

CUMBERLAND COUNTY
Similarity Rank: 176

TOWN & COUNTRY FEDERAL CREDIT UNION
Similarity Rank: 222

CASCO
Similarity Rank: 324

FIVE COUNTY
Similarity Rank: 484

Kennebec Savings Bank
Similarity Rank: 490

Maine Savings Federal Credit Union
Similarity Rank: 560

MEMBERS MORTGAGE COMPANY, INC.
Similarity Rank: 570

Bath Savings Institution
Similarity Rank: 615

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	1,239	$296,985,000	$239,697	$3,561	3.36%
USDA	24	$3,470,000	$144,583	$4,155	3.24%
VA	11	$2,325,000	$211,364	$4,362	3.05%

For 2020, First National Bank's most frequently originated type of loan was Conventional, with 1,239 originations. Their 2nd most popular type was USDA, with 24 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	525	$124,105,000	$236,390	$3,083	3.10%
Home Purchase	469	$119,935,000	$255,725	$4,034	3.68%
Cash Out Refi	212	$47,340,000	$223,302	$4,293	2.99%
Home Improvement	38	$5,710,000	$150,263	$2,006	4.35%
Other	30	$5,690,000	$189,667	$2,234	3.94%

For 2020, First National Bank's most frequently cited loan purpose was Refi, with 525 originations. The 2nd most popular reason was Home Purchase, with 469 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	551	$135,655,000	$246,198	$3,848	3.30%
15 Year	212	$47,630,000	$224,670	$3,191	2.76%
Other	192	$53,050,000	$276,302	$3,383	4.08%
20 Year	106	$20,910,000	$197,264	$3,341	3.30%
10 Year	106	$15,940,000	$150,377	$2,417	2.82%
30+ year	97	$29,125,000	$300,258	$4,681	4.00%
5 Year	8	$370,000	$46,250	$421	4.68%
1 Year	2	$100,000	$50,000	$0	3.13%

For 2020, First National Bank's most frequently cited loan duration was 30 Year, with 551 originations. The 2nd most popular length was 15 Year, with 212 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	642	$136,050,000	$211,916
$1k-2k	276	$58,110,000	$210,543
$2k-3k	110	$35,060,000	$318,727
$3k-4k	45	$13,065,000	$290,333
$4k-5k	24	$9,800,000	$408,333
$5k+	24	$7,570,000	$315,417

First National Bank's average total fees were $3,848, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 642 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	445	$106,375,000	$239,045
3-4%	365	$97,675,000	$267,603
4-5%	221	$55,245,000	$249,977
<2.5%	217	$40,315,000	$185,783
5-6%	25	$3,005,000	$120,200
6-7%	1	$165,000	$165,000

During 2020, First National Bank's average interest rate for loans was 3.30%, while their most frequently originated rate bucket for loans was 2.5-3%, with 445 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	530	$78,800,000	$148,679	$3,208	3.30%
$200k-400k	426	$115,700,000	$271,596	$4,087	3.29%
$100,000 or less	182	$11,910,000	$65,440	$2,279	3.60%
$400k-600k	91	$43,495,000	$477,967	$4,899	3.38%
$600k-1MM	29	$21,085,000	$727,069	$5,445	3.58%
$1MM+	16	$31,790,000	$1,986,875	$5,743	3.55%

2020 saw First National Bank place emphasis on $100k-200k loans with 530 originations, totaling $78,800,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	261	$58,775,000	$225,192	$3,644	3.27%
$50k-75k	238	$39,210,000	$164,748	$3,430	3.28%
$50k or less	200	$24,350,000	$121,750	$3,016	3.51%
$75k-100k	193	$37,835,000	$196,036	$3,439	3.29%
$150k-250k	163	$47,545,000	$291,687	$3,820	3.10%
$250k+	135	$63,885,000	$473,222	$4,516	3.15%

First National Bank lent most frequently to those with incomes in the $100k-150k range, with 261 originations. The second most popular income band? $50k-75k, with 238 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	304	$65,910,000	$216,809	$3,555	3.14%
30-36%	211	$49,565,000	$234,905	$3,735	3.19%
<20%	159	$42,995,000	$270,409	$3,573	2.99%
36%	50	$11,270,000	$225,400	$3,653	3.35%
37%	42	$8,390,000	$199,762	$3,430	3.32%
38%	42	$8,740,000	$208,095	$3,369	3.44%
43%	38	$8,330,000	$219,211	$3,401	3.41%
39%	36	$8,380,000	$232,778	$3,707	3.11%
44%	32	$6,690,000	$209,063	$3,534	3.18%
42%	30	$6,690,000	$223,000	$3,479	3.58%
41%	30	$5,480,000	$182,667	$3,261	3.44%
40%	28	$6,990,000	$249,643	$3,539	3.49%
45%	24	$5,520,000	$230,000	$3,962	3.20%
46%	21	$5,365,000	$255,476	$3,604	3.26%
48%	18	$3,880,000	$215,556	$3,827	3.31%
50-60%	18	$6,540,000	$363,333	$3,560	3.62%
49%	16	$3,490,000	$218,125	$4,074	3.14%
47%	13	$2,895,000	$222,692	$3,137	2.98%
>60%	12	$2,770,000	$230,833	$2,704	4.54%

First National Bank lent most frequently to those with DTI ratios of 20-30%, with 304 originations. The next most common DTI ratio? 30-36%, with 211 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	1,069	$242,605,000	$226,946	$3,556	3.30%
Not applicable	76	$29,180,000	$383,947	$0	4.38%
Not provided	110	$26,590,000	$241,727	$3,749	3.13%
Asian	8	$2,150,000	$268,750	$4,638	3.86%
Black	4	$1,420,000	$355,000	$3,632	3.81%
American Indian	7	$835,000	$119,286	$3,975	3.11%

Approval Rates

Total approvals of all applications
91.00%

First National Bank has an average approval rate.

Pick Rate

Approvals leading to origination
84.46%

First National Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	1,274	$302,780,000	$237,661

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	7	$5,425,000	$775,000
Multifamily:Site-Built	18	$15,070,000	$837,222
Single Family (1-4 Units):Manufactured	44	$3,850,000	$87,500
Single Family (1-4 Units):Site-Built	1,205	$278,435,000	$231,066

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	121	$19,595,000	$161,942	$2,646	3.11%
40-60%	276	$61,290,000	$222,065	$3,133	3.11%
60-80%	595	$148,965,000	$250,361	$3,942	3.38%
80-100%	243	$68,975,000	$283,848	$4,091	3.60%
Over 100%	2	$390,000	$195,000	$3,259	3.69%
Under 20%	35	$3,145,000	$89,857	$1,621	3.90%

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	14.3%
FIRST NATIONAL BANK OF OMAHA	Other type of mortgage	Trouble during payment process	1	14.3%
FIRST NATIONAL BANK OF OMAHA	FHA mortgage	Struggling to pay mortgage	1	14.3%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Trouble during payment process	2	28.6%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	2	28.6%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First National Bank	102 Washington Street Eastport, ME 4631	Full Service B&M	$34,164
First National Bank	114 Commercial Street Rockport, ME 4856	Full Service B&M	$48,037
First National Bank	132 Park Street Rockland, ME 4841	Full Service B&M	$68,150
First National Bank	145 Exchange Street Bangor, ME 4401	Full Service B&M	$53,250
First National Bank	1471 Atlantic Highway Waldoboro, ME 4572	Full Service B&M	$86,157
First National Bank	194 Beechland Road Ellsworth, ME 4605	Full Service B&M	$72,309
First National Bank	223 Main Street Damariscotta, ME 4543	Full Service B&M	$836,210
First National Bank	1 South Street Blue Hill, ME 4614	Full Service Retail	$53,881
First National Bank	102 Main Street Bar Harbor, ME 4609	Full Service B&M	$94,417
First National Bank	3 Summit Road Northeast Harbor, ME 4662	Full Service B&M	$11,025
First National Bank	319 North Street Calais, ME 4619	Full Service B&M	$62,381
First National Bank	350 Main Street Southwest Harbor, ME 4679	Full Service B&M	$40,701
First National Bank	39 Gardiner Road Wiscasset, ME 4578	Full Service B&M	$58,251
First National Bank	44 Elm Street Camden, ME 4843	Full Service B&M	$33,406
First National Bank	63 Union Street Rockland, ME 4841	Full Service B&M	$66,275
First National Bank	77 Oak Street Boothbay Harbor, ME 4538	Full Service B&M	$122,510

For 2020, First National Bank had 16 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$78,329
Net interest income	$61,043
Total noninterest income	$15,918
Gross Fiduciary activities income	$3,660
Service charges on deposit accounts	$1,648
Trading account gains and fees	$0
Additional Noninterest Income	$10,610
Pre-tax net operating income	$31,998
Securities gains (or losses, -)	$1,155
Income before extraordinary items	$27,786
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$27,786
Minority interest net income	$0
Net income	$27,786
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$26,815

First National Bank's gross interest income from loans was $78,329,000.
First National Bank's net interest income from loans was $61,043,000.
First National Bank's fee based income from loans was $1,648,000.
First National Bank's net income from loans was $27,786,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$17,286
Provision for credit losses	$6,050
Total noninterest expense	$38,913
Salaries and employee benefits	$20,388
Premises and equipment expense	$7,265
Additional noninterest expense	$11,260
Applicable income taxes	$5,367
Net charge-offs	$1,436
Cash dividends	$13,300

First National Bank's interest expense for loans was $17,286,000.
First National Bank's payroll and benefits expense were $20,388,000.
First National Bank's property, plant and equipment expenses $7,265,000.

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	1.0%
All other family	0.0%
Commercial & industrial loans	1.0%
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	$1,845,899
Deposits held in domestic offices	$1,845,899
Deposits by Individuals, partnerships, and corporations	$1,747,918
Deposits by U.S. Government	$3,149
Deposits by States and political subdivisions in the U.S.	$80,400
Deposits by Commercial banks and other depository institutions in U.S.	$14,432
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$204,218
Demand deposits	$135,130
Nontransaction accounts	$1,641,681
Money market deposit accounts (MMDAs)	$163,819
Other savings deposits (excluding MMDAs)	$871,819
Total time deposits	$606,043
Total time and savings deposits	$1,710,769
Noninterest-bearing deposits	$251,129
Interest-bearing deposits	$1,594,770
Retail deposits	$1,508,825
IRAs and Keogh plan accounts	$63,706
Brokered deposits	$274,036
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$2,326,590
Cash & Balances due from depository institutions	$82,363
Interest-bearing balances	$56,151
Total securities	$678,989
Federal funds sold & reverse repurchase	$0
Net loans and leases	$1,466,363
Loan and leases loss allowance	$16,253
Trading account assets	$2,640
Bank premises and fixed assets	$30,311
Other real estate owned	$908
Goodwill and other intangibles	$5,391
All other assets	$59,625

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$2,326,590
Total Liabilities	$2,132,075
Total deposits	$1,845,899
Interest-bearing deposits	$1,594,770
Deposits held in domestic offices	$1,845,899
% insured (estimated)	$89
Federal funds purchased and repurchase agreements	$69,340
Trading liabilities	$0
Other borrowed funds	$192,698
Subordinated debt	$0
All other liabilities	$24,138

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,466,363
Loan and leases loss allowance	$16,253
Total loans and leases (domestic)	$1,482,616
All real estate loans	$1,127,961
Real estate loans in domestic offices	$1,127,961
Construction and development loans	$78,165
Residential 1-4 family construction	$21,600
Other construction, all land development and other land	$56,565
Loans secured by nonfarm nonresidential properties	$396,410
Nonfarm nonresidential secured by owner-occupied properties	$214,547
Commercial real estate & other non-farm, non-residential	$181,863
Multifamily residential real estate	$45,055
1-4 family residential loans	$607,675
Farmland loans	$656
Loans held in foreign offices	$0
Farm loans	$41,731
Commercial and industrial loans	$241,065
To non-U.S. addressees	$0
Loans to individuals	$25,857
Credit card loans	$0
Related Plans	$7,048
Consumer Auto Loans	$3,721
Other loans to individuals	$15,088
All other loans & leases	$46,002
Loans to foreign governments and official institutions	$0
Other loans	$2,220
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	$1,523
Non 1-4 family restructured loans & leases	$441
Total loans and leases (foreign)	$0

First National Bank had $1,466,363,000 of loans outstanding in 2020. $1,127,961,000 of loans were in real estate loans. $78,165,000 of loans were in development loans. $45,055,000 of loans were in multifamily mortgage loans. $607,675,000 of loans were in 1-4 family mortgage loans. $41,731,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,721,000 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	641	$152,610	$238,081
Nonfarm, nonresidential loans - <$100k	117	$4,657	$39,803
Nonfarm, nonresidential loans - $100-250k	225	$29,638	$131,724
Nonfarm, nonresidential loans - $250k-1MM	299	$118,315	$395,702
Commercial & Industrial, US addressed loans - <$1MM	2,177	$121,169	$55,659
Commercial & Industrial, US addressed loans - <$100k	1,707	$31,218	$18,288
Commercial & Industrial, US addressed loans - $100-250k	271	$28,050	$103,506
Commercial & Industrial, US addressed loans - $250k-1MM	199	$61,901	$311,060
Farmland loans - <$1MM	5	$656	$131,200
Farmland loans - <$100k	1	$20	$20,000
Farmland loans - $100-250k	3	$361	$120,333
Farmland loans - $250k-1MM	1	$275	$275,000
Agriculture operations loans - <$1MM	212	$18,452	$87,038
Agriculture operations loans - <$100k	118	$3,484	$29,525
Agriculture operations loans - $100-250k	70	$8,519	$121,700
Agriculture operations loans - $250k-1MM	24	$6,449	$268,708