First Financial Northwest Bank Mortgage Rates, Fees & Info
Renton, WA
LEI: 5493003K18C4JU5UJ328
Tax ID: 91-0383363
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Mortgage Data
Bank Data
Overview
First Financial Northwest Bank is a
smaller
bank
specializing in
Home Purchase and Refi loans.
First Financial Northwest Bank has a high proportion of conventional loans.
Their top markets include Seattle, Ellensburg, Portland, Kennewick, and Aberdeen among others. First Financial Northwest 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.
Originations
188
Origination Dollar Volume (All Markets)
$113,150,000
Employee count
143
Top Markets
| Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
|
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA)
|
159
|
$101,345,000 |
$637,390 |
$0 |
0.00% |
|
Ellensburg, WA (FHA|USDA|VA)
|
2
|
$3,100,000 |
$1,550,000 |
$0 |
0.00% |
|
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA)
|
11
|
$2,915,000 |
$265,000 |
$0 |
0.00% |
|
KENNEWICK-RICHLAND, WA (FHA|USDA|VA)
|
1
|
$1,355,000 |
$1,355,000 |
$0 |
0.00% |
|
Aberdeen, WA (FHA|USDA|VA)
|
5
|
$1,295,000 |
$259,000 |
$0 |
0.00% |
|
WENATCHEE, WA (FHA|USDA|VA)
|
1
|
$705,000 |
$705,000 |
$0 |
0.00% |
|
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA)
|
3
|
$655,000 |
$218,333 |
$0 |
0.00% |
|
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA)
|
3
|
$595,000 |
$198,333 |
$0 |
0.00% |
|
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA)
|
1
|
$445,000 |
$445,000 |
$0 |
0.00% |
|
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA)
|
1
|
$405,000 |
$405,000 |
$0 |
0.00% |
|
Oak Harbor, WA (FHA|USDA|VA)
|
1
|
$335,000 |
$335,000 |
$0 |
0.00% |
First Financial Northwest Bank's top markets include Seattle, Ellensburg, Portland, Kennewick, and Aberdeen among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
188 |
$113,150,000 |
$601,862 |
$0 |
0.00% |
For the 2021 period, First Financial Northwest Bank's most frequently
originated loan type
of loans were Conventional, with 188 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Home Purchase |
103 |
$61,555,000 |
$597,621 |
$0 |
0.00% |
| Refi |
46 |
$34,300,000 |
$745,652 |
$0 |
0.00% |
| Cash Out Refi |
38 |
$17,090,000 |
$449,737 |
$0 |
0.00% |
| Home Improvement |
1 |
$205,000 |
$205,000 |
$0 |
0.00% |
For the 2021, First Financial Northwest Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 103
originations.
The 2nd most popular reason of loans were Refi,
with 46 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Other |
188 |
$113,150,000 |
$601,862 |
$0 |
0.00% |
For the 2021, First Financial Northwest Bank's most frequently cited loan
length
of loans were Other, with 188 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $200k-400k |
76 |
$20,540,000 |
$270,263 |
$0 |
0.00% |
| $400k-600k |
36 |
$17,690,000 |
$491,389 |
$0 |
0.00% |
| $600k-1MM |
28 |
$22,520,000 |
$804,286 |
$0 |
0.00% |
| $1MM+ |
27 |
$48,735,000 |
$1,805,000 |
$0 |
0.00% |
| $100k-200k |
20 |
$3,580,000 |
$179,000 |
$0 |
0.00% |
| $100,000 or less |
1 |
$85,000 |
$85,000 |
$0 |
0.00% |
2021 saw First Financial Northwest Bank place emphasis on
$200k-400k loans
with 76 originations, totaling
$20,540,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $250k+ |
47 |
$44,825,000 |
$953,723 |
$0 |
0.00% |
| $150k-250k |
30 |
$15,930,000 |
$531,000 |
$0 |
0.00% |
| $100k-150k |
14 |
$6,130,000 |
$437,857 |
$0 |
0.00% |
| $75k-100k |
7 |
$2,195,000 |
$313,571 |
$0 |
0.00% |
| $50k-75k |
3 |
$925,000 |
$308,333 |
$0 |
0.00% |
| $50k or less |
2 |
$390,000 |
$195,000 |
$0 |
0.00% |
First Financial Northwest Bank lent most frequently to those with incomes in the
$250k+ range, with
47 originations.
The second most popular income band? $150k-250k,
with 30 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Exempt% |
188 |
$113,150,000 |
$601,862 |
$0 |
0.00% |
First Financial Northwest Bank lent most frequently to those with DTI ratios
of Exempt%, with
188 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Asian |
76 |
$54,770,000 |
$720,658 |
$0 |
0.00% |
| Not applicable |
85 |
$42,755,000 |
$503,000 |
$0 |
0.00% |
| White |
19 |
$9,605,000 |
$505,526 |
$0 |
0.00% |
| Not provided |
4 |
$3,400,000 |
$850,000 |
$0 |
0.00% |
| Black |
1 |
$1,325,000 |
$1,325,000 |
$0 |
0.00% |
| Chinese |
3 |
$1,295,000 |
$431,667 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
95.03%
First Financial Northwest Bank has an exceptionally high approval rate. They
either target their audience
very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination
83.74%
First Financial Northwest Bank has a below average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| Exempt |
188 |
$113,150,000 |
$601,862 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
188 |
$113,150,000 |
$601,862 |
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| FIRST FINANCIAL BANCORP |
Conventional home mortgage |
Trouble during payment process |
1 |
25.0% |
| FIRST FINANCIAL BANCORP |
Other type of mortgage |
Trouble during payment process |
1 |
25.0% |
| FIRST FINANCIAL BANCORP |
Home equity loan or line of credit (HELOC) |
Trouble during payment process |
1 |
25.0% |
| FIRST FINANCIAL BANCORP |
Conventional home mortgage |
Struggling to pay mortgage |
1 |
25.0% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| First Financial Northwest Bank |
1002 Park Avenue, Suite F Renton, WA 98057 |
Full Service B&M
|
$38,909 |
| First Financial Northwest Bank |
5500 Olympic Drive #c102 Gig Harbor, WA 98335 |
Full Service B&M
|
$2,315 |
| First Financial Northwest Bank |
15600 Ne 8th Street, Suite K-8 Bellevue, WA 98008 |
Full Service B&M
|
$79,218 |
| First Financial Northwest Bank |
17512 Sr 9 Se Snohomish, WA 98296 |
Full Service B&M
|
$36,490 |
| First Financial Northwest Bank |
17641 Garden Way, Ne Woodinville, WA 98072 |
Full Service Retail
|
$36,254 |
| First Financial Northwest Bank |
184 Sunset Ave Edmonds, WA 98020 |
Full Service B&M
|
$75,987 |
| First Financial Northwest Bank |
18505 Bothell Way Bothell, WA 98011 |
Full Service B&M
|
$13,920 |
| First Financial Northwest Bank |
201 Wells Avenue South Renton, WA 98057 |
Full Service B&M
|
$702,919 |
| First Financial Northwest Bank |
207 W Kent Station Street 106 Kent, WA 98032 |
Full Service B&M
|
$38,437 |
| First Financial Northwest Bank |
240 Nw Gilman Blvd. Suite 1 Issaquah, WA 98027 |
Full Service B&M
|
$1,900 |
| First Financial Northwest Bank |
2609 172nd St Ne Marysville, WA 98271 |
Full Service Retail
|
$41,060 |
| First Financial Northwest Bank |
303 91st Ave Ne Suite 502 Lake Stevens, WA 98258 |
Full Service Retail
|
$38,093 |
| First Financial Northwest Bank |
3555 Market Pl W Ste 1 University Place, WA 98466 |
Full Service B&M
|
$1,694 |
| First Financial Northwest Bank |
432 Central Way Kirkland, WA 98033 |
Full Service B&M
|
$12,158 |
| First Financial Northwest Bank |
15021 Main Street, Suite F Mill Creek, WA 98012 |
Full Service B&M
|
$34,476 |
For 2021, First Financial Northwest Bank had 15 branches.
Yearly Performance Overview
Bank Income
First Financial Northwest Bank's gross interest income from loans was $54,867,000.
First Financial Northwest Bank's net interest income from loans was $46,032,000.
First Financial Northwest Bank's fee based income from loans was $249,000.
First Financial Northwest Bank's net income from loans was $13,582,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$8,835 |
| Provision for credit losses |
$300 |
| Total noninterest expense |
$31,866 |
| Salaries and employee benefits |
$19,701 |
| Premises and equipment expense |
$4,092 |
| Additional noninterest expense |
$8,073 |
| Applicable income taxes |
$3,302 |
| Net charge-offs |
$-183 |
| Cash dividends |
$6,708 |
First Financial Northwest Bank's interest expense for loans was $8,835,000.
First Financial Northwest Bank's payroll and benefits expense were $19,701,000.
First Financial Northwest Bank's property, plant and equipment expenses $4,092,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$1,171,110 |
| Deposits held in domestic offices |
$1,171,110 |
| Deposits by Individuals, partnerships, and corporations |
$1,108,791 |
| Deposits by U.S. Government |
$1 |
| Deposits by States and political subdivisions in the U.S. |
$60,579 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$1,739 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$221,151 |
| Demand deposits |
$221,151 |
| Nontransaction accounts |
$949,959 |
| Money market deposit accounts (MMDAs) |
$632,686 |
| Other savings deposits (excluding MMDAs) |
$23,146 |
| Total time deposits |
$294,127 |
| Total time and savings deposits |
$949,959 |
| Noninterest-bearing deposits |
$125,092 |
| Interest-bearing deposits |
$1,046,018 |
| Retail deposits |
$1,095,226 |
| IRAs and Keogh plan accounts |
$43,154 |
| Brokered deposits |
$0 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$1,426,468 |
| Cash & Balances due from depository institutions |
$73,391 |
| Interest-bearing balances |
$66,145 |
| Total securities |
$171,380 |
| Federal funds sold & reverse repurchase |
$0 |
| Net loans and leases |
$1,103,461 |
| Loan and leases loss allowance |
$15,657 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$25,548 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$1,573 |
| All other assets |
$51,115 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$1,426,468 |
| Total Liabilities |
$1,276,905 |
| Total deposits |
$1,171,110 |
| Interest-bearing deposits |
$1,046,018 |
| Deposits held in domestic offices |
$1,171,110 |
| % insured (estimated) |
$66 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$95,000 |
| Subordinated debt |
$0 |
| All other liabilities |
$10,795 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$1,103,461 |
| Loan and leases loss allowance |
$15,657 |
| Total loans and leases (domestic) |
$1,119,118 |
| All real estate loans |
$1,035,535 |
| Real estate loans in domestic offices |
$1,035,535 |
| Construction and development loans |
$97,535 |
| Residential 1-4 family construction |
$38,993 |
| Other construction, all land development and other land |
$58,542 |
| Loans secured by nonfarm nonresidential properties |
$419,744 |
| Nonfarm nonresidential secured by owner-occupied properties |
$37,773 |
| Commercial real estate & other non-farm, non-residential |
$381,971 |
| Multifamily residential real estate |
$130,150 |
| 1-4 family residential loans |
$388,106 |
| Farmland loans |
$0 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$0 |
| Commercial and industrial loans |
$23,802 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$37,723 |
| Credit card loans |
$0 |
| Related Plans |
$461 |
| Consumer Auto Loans |
$37,257 |
| Other loans to individuals |
$5 |
| All other loans & leases |
$22,058 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$19,823 |
| Loans to depository institutions and acceptances of other banks |
$0 |
| Loans not secured by real estate |
$18,142 |
| Loans secured by real estate to non-U.S. addressees |
$0 |
| Restructured Loans & leases |
$1,014 |
| Non 1-4 family restructured loans & leases |
$0 |
| Total loans and leases (foreign) |
$0 |
First Financial Northwest Bank had $1,103,461,000 of loans outstanding in 2021. $1,035,535,000 of loans were in real estate loans.
$97,535,000 of loans were in development loans. $130,150,000 of loans were in multifamily mortgage loans.
$388,106,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $37,257,000 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 |
79 |
$36,310 |
$459,620 |
| Nonfarm, nonresidential loans - <$100k |
3 |
$22 |
$7,333 |
| Nonfarm, nonresidential loans - $100-250k |
7 |
$823 |
$117,571 |
| Nonfarm, nonresidential loans - $250k-1MM |
69 |
$35,465 |
$513,986 |
| Commercial & Industrial, US addressed loans - <$1MM |
104 |
$14,012 |
$134,731 |
| Commercial & Industrial, US addressed loans - <$100k |
47 |
$1,082 |
$23,021 |
| Commercial & Industrial, US addressed loans - $100-250k |
29 |
$4,280 |
$147,586 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
28 |
$8,650 |
$308,929 |
