First National Bank Mortgage Rates, Fees & Info

Damariscotta, ME

LEI: 5493002J7RM1JLAXN553

Tax ID: 01-0067810

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Mortgage Data

Bank 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.27% 3/28/24
30 Year Conventional Purchase 6.83% 3/28/24
30 Year Conventional Refi 6.65% 3/28/24
30 Year Cash-out Refi 6.62% 3/28/24
30 Year VA Purchase 6.22% 3/28/24
30 Year VA Refi 6.77% 3/28/24
30 Year USDA Purchase 5.94% 3/28/24
15 Year Conventional Purchase 6.43% 3/28/24
15 Year Conventional Refi 6.42% 3/28/24
15 Year Cash-out Refi 6.42% 3/28/24
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






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

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

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    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