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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & 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 by origination volume include: Bangor, Portland, Augusta, Lewiston, and Hilton Head Island 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






    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

    1,188

    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

    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 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.

    Their top states include:
  • Maine (FHA|USDA|VA)
  • South Carolina (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.

    INFINITY Federal Credit Union
    Similarity Rank: 136
    MAINE HIGHLANDS FEDERAL CREDIT UNION
    Similarity Rank: 138
    CASCO
    Similarity Rank: 226
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 240
    Piscataqua Savings Bank
    Similarity Rank: 252
    CUMBERLAND COUNTY
    Similarity Rank: 464
    Kennebec Savings Bank
    Similarity Rank: 535
    Saco & Biddeford Savings Institution
    Similarity Rank: 556
    Cambridge Trust Company
    Similarity Rank: 585
    Bath Savings Institution
    Similarity Rank: 648

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, First National Bank's most frequently originated type of loan was Conventional, with 1,161 originations. Their 2nd most popular type was VA, with 16 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, First National Bank's most frequently cited loan purpose was Home Purchase, with 519 originations. The 2nd most popular reason was 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 2021, First National Bank's most frequently cited loan duration was 30 Year, with 474 originations. The 2nd most popular length was Other, with 232 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 53 $17,775,000 $335,377
    $4k-5k 23 $8,075,000 $351,087
    $5k+ 19 $7,015,000 $369,211

    First National Bank's average total fees were $4,073, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.27%, while their most frequently originated rate bucket for loans was 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
    90.63%

    First National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.29%

    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 1471 Atlantic Highway Waldoboro, ME 4572 Full Service B&M $96,339
    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 3 Summit Road Northeast Harbor, ME 4662 Full Service B&M $19,581
    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