First Hope Bank A National Banking Association Mortgage Rates, Fees & Info

Hope, NJ

LEI: 5493003XLOX5FDT9R120

Tax ID: 22-0998445

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Review & Overview

First Hope Bank A National Banking Association is a smaller bank specializing in Home Purchase loans. First Hope Bank A National Banking Association has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Allentown, Miami, Barnstable Town, and Bridgeport among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Hope Bank A National Banking Association has an 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

106

Origination Dollar Volume (All Markets)

$24,520,000

Employee count

112

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
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	59	$17,315,000	$293,475	$0	0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	42	$5,160,000	$122,857	$0	0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	1	$625,000	$625,000	$0	0.00%
BARNSTABLE TOWN, MA (FHA\|USDA\|VA)	1	$545,000	$545,000	$0	0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA\|USDA\|VA)	1	$395,000	$395,000	$0	0.00%
EAST STROUDSBURG, PA (FHA\|USDA\|VA)	1	$285,000	$285,000	$0	0.00%
TRENTON-PRINCETON, NJ (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	0.00%

First Hope Bank A National Banking Association's top markets include New York, Allentown, Miami, Barnstable Town, and Bridgeport among others.

Their top states include:

New Jersey (FHA|USDA|VA)

New York (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

Massachusetts (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	100	$23,040,000	$230,400	$0	0.00%
FHA	3	$855,000	$285,000	$0	0.00%
USDA	3	$625,000	$208,333	$0	0.00%

For 2018, First Hope Bank A National Banking Association's most frequently originated type of loan was Conventional, with 100 originations. Their 2nd most popular type was FHA, with 3 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	40	$14,170,000	$354,250	$0	0.00%
Refi	32	$4,900,000	$153,125	$0	0.00%
Home Improvement	17	$1,915,000	$112,647	$0	0.00%
Cash Out Refi	9	$2,835,000	$315,000	$0	0.00%
Other	8	$700,000	$87,500	$0	0.00%

For 2018, First Hope Bank A National Banking Association's most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Refi, with 32 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	106	$24,520,000	$231,321	$0	0.00%

For 2018, First Hope Bank A National Banking Association's most frequently cited loan duration was Other, with 106 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	33	$9,255,000	$280,455	$0	0.00%
$100k-200k	31	$4,495,000	$145,000	$0	0.00%
$100,000 or less	29	$1,465,000	$50,517	$0	0.00%
$400k-600k	8	$3,610,000	$451,250	$0	0.00%
$1MM+	3	$4,455,000	$1,485,000	$0	0.00%
$600k-1MM	2	$1,240,000	$620,000	$0	0.00%

2018 saw First Hope Bank A National Banking Association place emphasis on $200k-400k loans with 33 originations, totaling $9,255,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	22	$4,060,000	$184,545	$0	0.00%
$75k-100k	22	$4,010,000	$182,273	$0	0.00%
$50k-75k	20	$3,020,000	$151,000	$0	0.00%
$150k-250k	16	$3,020,000	$188,750	$0	0.00%
$250k+	9	$5,615,000	$623,889	$0	0.00%
$50k or less	3	$245,000	$81,667	$0	0.00%

First Hope Bank A National Banking Association lent most frequently to those with incomes in the $100k-150k range, with 22 originations. The second most popular income band? $75k-100k, with 22 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	106	$24,520,000	$231,321	$0	0.00%

First Hope Bank A National Banking Association lent most frequently to those with DTI ratios of Exempt%, with 106 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	82	$17,390,000	$212,073	$0	0.00%
Not applicable	13	$4,425,000	$340,385	$0	0.00%
Not provided	8	$2,170,000	$271,250	$0	0.00%
Asian	2	$460,000	$230,000	$0	0.00%
Black	1	$75,000	$75,000	$0	0.00%

Approval Rates

Total approvals of all applications
78.79%

First Hope Bank A National Banking Association has a below average approval rate.

Pick Rate

Approvals leading to origination
83.96%

First Hope Bank A National Banking Association has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	106	$24,520,000	$231,321

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	2	$2,560,000	$1,280,000
Single Family (1-4 Units):Site-Built	104	$21,960,000	$211,154

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	Home equity loan or line of credit (HELOC)	Closing on a mortgage	1	50.0%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	1	50.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First Hope Bank, A National Banking Association	1301 Hope-Bridgeville Rd. Hope, NJ 7844	Full Service B&M	$69,402
First Hope Bank, A National Banking Association	161 Newton Sparta Road Newton, NJ 7860	Full Service B&M	$93,150
First Hope Bank, A National Banking Association	220 Woodport Road, Aka Route 181 Sparta, NJ 7871	Full Service B&M	$55,105
First Hope Bank, A National Banking Association	41 Rt 46 Hackettstown, NJ 7840	Full Service B&M	$50,348
First Hope Bank, A National Banking Association	Route 46 Great Meadows, NJ 7838	Full Service B&M	$70,428
First Hope Bank, A National Banking Association	Route 94 Blairstown, NJ 7825	Full Service B&M	$100,414

For 2018, First Hope Bank A National Banking Association had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$18,362
Net interest income	$16,095
Total noninterest income	$6,519
Gross Fiduciary activities income	$1,903
Service charges on deposit accounts	$842
Trading account gains and fees	$0
Additional Noninterest Income	$3,774
Pre-tax net operating income	$3,736
Securities gains (or losses, -)	$-44
Income before extraordinary items	$2,725
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,725
Minority interest net income	$0
Net income	$2,725
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$2,759

First Hope Bank A National Banking Association's gross interest income from loans was $18,362,000.
First Hope Bank A National Banking Association's net interest income from loans was $16,095,000.
First Hope Bank A National Banking Association's fee based income from loans was $842,000.
First Hope Bank A National Banking Association's net income from loans was $2,725,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,267
Provision for credit losses	$235
Total noninterest expense	$18,643
Salaries and employee benefits	$10,566
Premises and equipment expense	$2,775
Additional noninterest expense	$5,302
Applicable income taxes	$967
Net charge-offs	$-9
Cash dividends	$376

First Hope Bank A National Banking Association's interest expense for loans was $2,267,000.
First Hope Bank A National Banking Association's payroll and benefits expense were $10,566,000.
First Hope Bank A National Banking Association's property, plant and equipment expenses $2,775,000.

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	2.0%
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	$440,710
Deposits held in domestic offices	$440,710
Deposits by Individuals, partnerships, and corporations	$386,015
Deposits by U.S. Government	$4
Deposits by States and political subdivisions in the U.S.	$54,691
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	$54,543
Demand deposits	$47,370
Nontransaction accounts	$386,167
Money market deposit accounts (MMDAs)	$42,212
Other savings deposits (excluding MMDAs)	$287,339
Total time deposits	$56,615
Total time and savings deposits	$393,340
Noninterest-bearing deposits	$32,526
Interest-bearing deposits	$408,184
Retail deposits	$434,579
IRAs and Keogh plan accounts	$7,273
Brokered deposits	$1
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$515,091
Cash & Balances due from depository institutions	$5,040
Interest-bearing balances	$2,567
Total securities	$130,821
Federal funds sold & reverse repurchase	$0
Net loans and leases	$346,807
Loan and leases loss allowance	$4,305
Trading account assets	$0
Bank premises and fixed assets	$13,541
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$18,882

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$515,091
Total Liabilities	$472,138
Total deposits	$440,710
Interest-bearing deposits	$408,184
Deposits held in domestic offices	$440,710
% insured (estimated)	$72
Federal funds purchased and repurchase agreements	$14,695
Trading liabilities	$0
Other borrowed funds	$7,850
Subordinated debt	$0
All other liabilities	$8,883

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$346,807
Loan and leases loss allowance	$4,305
Total loans and leases (domestic)	$351,112
All real estate loans	$322,796
Real estate loans in domestic offices	$322,796
Construction and development loans	$9,469
Residential 1-4 family construction	$774
Other construction, all land development and other land	$8,695
Loans secured by nonfarm nonresidential properties	$195,150
Nonfarm nonresidential secured by owner-occupied properties	$103,912
Commercial real estate & other non-farm, non-residential	$91,238
Multifamily residential real estate	$22,448
1-4 family residential loans	$95,688
Farmland loans	$41
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$24,094
To non-U.S. addressees	$0
Loans to individuals	$631
Credit card loans	$0
Related Plans	$263
Consumer Auto Loans	$80
Other loans to individuals	$288
All other loans & leases	$3,591
Loans to foreign governments and official institutions	$0
Other loans	$58
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	$701
Non 1-4 family restructured loans & leases	$287
Total loans and leases (foreign)	$0

First Hope Bank A National Banking Association had $346,807,000 of loans outstanding in 2018. $322,796,000 of loans were in real estate loans. $9,469,000 of loans were in development loans. $22,448,000 of loans were in multifamily mortgage loans. $95,688,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $80,000 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	202	$63,593	$314,817
Nonfarm, nonresidential loans - <$100k	15	$583	$38,867
Nonfarm, nonresidential loans - $100-250k	55	$6,944	$126,255
Nonfarm, nonresidential loans - $250k-1MM	132	$56,066	$424,742
Commercial & Industrial, US addressed loans - <$1MM	156	$16,207	$103,891
Commercial & Industrial, US addressed loans - <$100k	92	$1,456	$15,826
Commercial & Industrial, US addressed loans - $100-250k	31	$2,524	$81,419
Commercial & Industrial, US addressed loans - $250k-1MM	33	$12,227	$370,515
Farmland loans - <$1MM	1	$41	$41,000
Farmland loans - $250k-1MM	1	$41	$41,000