First Financial Northwest Bank Mortgage Rates, Fees & Info
Renton, WALEI: 5493003K18C4JU5UJ328
Tax ID: 91-0383363
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Mortgage Data
Bank Data
Review & 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 by origination volume include: Seattle, Bremerton, Ellensburg, Olympia, and Salem among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)First Financial Northwest 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.
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Originations
171Origination Dollar Volume (All Markets)
$115,265,000Employee count
155Top 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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 163 | $110,705,000 | $679,172 | $0 | 0.00% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 2 | $2,200,000 | $1,100,000 | $0 | 0.00% |
| Ellensburg, WA (FHA|USDA|VA) | 1 | $1,035,000 | $1,035,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $725,000 | $725,000 | $0 | 0.00% |
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| SALEM, OR (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Oak Harbor, WA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 171 | $115,265,000 | $674,064 | $0 | 0.00% |
For 2018, First Financial Northwest Bank's most frequently originated type of loan was Conventional, with 171 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 78 | $74,110,000 | $950,128 | $0 | 0.00% |
| Refi | 68 | $27,760,000 | $408,235 | $0 | 0.00% |
| Cash Out Refi | 25 | $13,395,000 | $535,800 | $0 | 0.00% |
For 2018, First Financial Northwest Bank's most frequently cited loan purpose was Home Purchase, with 78 originations. The 2nd most popular reason was Refi, with 68 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 171 | $115,265,000 | $674,064 | $0 | 0.00% |
For 2018, First Financial Northwest Bank's most frequently cited loan duration was Other, with 171 originations.
Loan Sizing
2018 saw First Financial Northwest Bank place emphasis on $200k-400k loans with 55 originations, totaling $15,395,000 in origination value.
Applicant Income
First Financial Northwest Bank lent most frequently to those with incomes in the $250k+ range, with 37 originations. The second most popular income band? $150k-250k, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 171 | $115,265,000 | $674,064 | $0 | 0.00% |
First Financial Northwest Bank lent most frequently to those with DTI ratios of Exempt%, with 171 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.64%
First Financial Northwest Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.46%
First Financial Northwest Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 171 | $115,265,000 | $674,064 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 3 | 21.4% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Problem with a credit reporting company's investigation into an existing problem | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 7.1% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 5 | 35.7% |
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 | $22,585 |
| First Financial Northwest Bank | 15021 Main Street, Suite F Mill Creek, WA 98012 | Full Service B&M | $24,279 |
| First Financial Northwest Bank | 15600 Ne 8th Street, Suite K-8 Bellevue, WA 98008 | Full Service B&M | $37,517 |
| First Financial Northwest Bank | 17512 Sr 9 Se Snohomish, WA 98296 | Full Service B&M | $16,780 |
| First Financial Northwest Bank | 17641 Garden Way, Ne Woodinville, WA 98072 | Full Service Retail | $33,486 |
| First Financial Northwest Bank | 184 Sunset Ave Edmonds, WA 98020 | Full Service B&M | $29,162 |
| First Financial Northwest Bank | 18505 Bothell Way Bothell, WA 98011 | Full Service B&M | $592 |
| First Financial Northwest Bank | 201 Wells Avenue South Renton, WA 98057 | Full Service B&M | $672,781 |
| First Financial Northwest Bank | 2639 172nd St Ne Suite 101 Marysville, WA 98271 | Full Service Retail | $16,064 |
| First Financial Northwest Bank | 8915 Market Place, Ste 300 Lake Stevens, WA 98258 | Full Service Retail | $9,691 |
For 2018, First Financial Northwest Bank had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $55,975 |
| Net interest income | $41,077 |
| Total noninterest income | $3,119 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $228 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,891 |
| Pre-tax net operating income | $19,893 |
| Securities gains (or losses, -) | $-20 |
| Income before extraordinary items | $15,894 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $15,894 |
| Minority interest net income | $0 |
| Net income | $15,894 |
| Sale, conversion, retirement of capital stock, net | $874 |
| Net operating income | $15,910 |
First Financial Northwest Bank's gross interest income from loans was $55,975,000.
First Financial Northwest Bank's net interest income from loans was $41,077,000.
First Financial Northwest Bank's fee based income from loans was $228,000.
First Financial Northwest Bank's net income from loans was $15,894,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $14,898 |
| Provision for credit losses | $-3,966 |
| Total noninterest expense | $28,269 |
| Salaries and employee benefits | $18,754 |
| Premises and equipment expense | $3,014 |
| Additional noninterest expense | $6,501 |
| Applicable income taxes | $3,979 |
| Net charge-offs | $-4,465 |
| Cash dividends | $10,458 |
First Financial Northwest Bank's interest expense for loans was $14,898,000.
First Financial Northwest Bank's payroll and benefits expense were $18,754,000.
First Financial Northwest Bank's property, plant and equipment expenses $3,014,000.
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 | $966,359 |
| Deposits held in domestic offices | $966,359 |
| Deposits by Individuals, partnerships, and corporations | $937,812 |
| Deposits by U.S. Government | $4 |
| Deposits by States and political subdivisions in the U.S. | $28,543 |
| Deposits by Commercial banks and other depository institutions in U.S. | $0 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $90,793 |
| Demand deposits | $90,793 |
| Nontransaction accounts | $875,566 |
| Money market deposit accounts (MMDAs) | $361,768 |
| Other savings deposits (excluding MMDAs) | $24,799 |
| Total time deposits | $488,999 |
| Total time and savings deposits | $875,566 |
| Noninterest-bearing deposits | $50,714 |
| Interest-bearing deposits | $915,645 |
| Retail deposits | $741,272 |
| IRAs and Keogh plan accounts | $50,252 |
| Brokered deposits | $97,825 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,250,647 |
| Cash & Balances due from depository institutions | $17,010 |
| Interest-bearing balances | $8,888 |
| Total securities | $142,170 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,021,146 |
| Loan and leases loss allowance | $13,333 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $20,881 |
| Other real estate owned | $483 |
| Goodwill and other intangibles | $2,004 |
| All other assets | $46,953 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,250,647 |
| Total Liabilities | $1,122,639 |
| Total deposits | $966,359 |
| Interest-bearing deposits | $915,645 |
| Deposits held in domestic offices | $966,359 |
| % insured (estimated) | $75 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $146,500 |
| Subordinated debt | $0 |
| All other liabilities | $9,780 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,021,146 |
| Loan and leases loss allowance | $13,333 |
| Total loans and leases (domestic) | $1,034,479 |
| All real estate loans | $1,002,909 |
| Real estate loans in domestic offices | $1,002,909 |
| Construction and development loans | $114,901 |
| Residential 1-4 family construction | $58,714 |
| Other construction, all land development and other land | $56,187 |
| Loans secured by nonfarm nonresidential properties | $374,287 |
| Nonfarm nonresidential secured by owner-occupied properties | $35,614 |
| Commercial real estate & other non-farm, non-residential | $338,673 |
| Multifamily residential real estate | $170,189 |
| 1-4 family residential loans | $343,532 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $17,891 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,085 |
| Credit card loans | $0 |
| Related Plans | $105 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $980 |
| All other loans & leases | $12,594 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $9,802 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $9,779 |
| Loans secured by real estate to non-U.S. addressees | $2,540 |
| Restructured Loans & leases | $2,493 |
| Non 1-4 family restructured loans & leases | $241 |
| Total loans and leases (foreign) | $0 |
First Financial Northwest Bank had $1,021,146,000 of loans outstanding in 2018. $1,002,909,000 of loans were in real estate loans. $114,901,000 of loans were in development loans. $170,189,000 of loans were in multifamily mortgage loans. $343,532,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 | 78 | $34,166 | $438,026 |
| Nonfarm, nonresidential loans - <$100k | 1 | $50 | $50,000 |
| Nonfarm, nonresidential loans - $100-250k | 12 | $1,711 | $142,583 |
| Nonfarm, nonresidential loans - $250k-1MM | 65 | $32,405 | $498,538 |
| Commercial & Industrial, US addressed loans - <$1MM | 27 | $7,537 | $279,148 |
| Commercial & Industrial, US addressed loans - <$100k | 4 | $116 | $29,000 |
| Commercial & Industrial, US addressed loans - $100-250k | 5 | $176 | $35,200 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 18 | $7,245 | $402,500 |