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

Hope, NJ

LEI: 5493003XLOX5FDT9R120

Tax ID: 22-0998445

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

First Hope Bank A National Banking Association is a smaller bank specializing in Home Purchase and Refi loans. First Hope Bank A National Banking Association has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Allentown, Philadelphia, Trenton, and East Stroudsburg among others. We have data for 8 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 an above average pick rate when compared to similar lenders.

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Originations

168

Origination Dollar Volume (All Markets)

$36,250,000

Employee count

101

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)	96	$26,010,000	$270,938	$0	0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	63	$8,285,000	$131,508	$0	0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	2	$650,000	$325,000	$0	0.00%
TRENTON-PRINCETON, NJ (FHA\|USDA\|VA)	2	$440,000	$220,000	$0	0.00%
EAST STROUDSBURG, PA (FHA\|USDA\|VA)	2	$330,000	$165,000	$0	0.00%
KINGSTON, NY (FHA\|USDA\|VA)	1	$255,000	$255,000	$0	0.00%
RALEIGH-CARY, NC (FHA\|USDA\|VA)	1	$155,000	$155,000	$0	0.00%
LAKELAND-WINTER HAVEN, FL (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	0.00%

First Hope Bank A National Banking Association's top markets include New York, Allentown, Philadelphia, Trenton, and East Stroudsburg among others.

Their top states include:

New Jersey (FHA|USDA|VA)

New York (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	162	$34,430,000	$212,531	$0	0.00%
FHA	6	$1,820,000	$303,333	$0	0.00%

For 2019, First Hope Bank A National Banking Association's most frequently originated type of loan was Conventional, with 162 originations. Their 2nd most popular type was FHA, with 6 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	59	$18,345,000	$310,932	$0	0.00%
Refi	48	$9,470,000	$197,292	$0	0.00%
Home Improvement	22	$1,190,000	$54,091	$0	0.00%
Cash Out Refi	22	$5,970,000	$271,364	$0	0.00%
Other	17	$1,275,000	$75,000	$0	0.00%

For 2019, First Hope Bank A National Banking Association's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Refi, with 48 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	168	$36,250,000	$215,774	$0	0.00%

For 2019, First Hope Bank A National Banking Association's most frequently cited loan duration was Other, with 168 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	58	$16,410,000	$282,931	$0	0.00%
$100,000 or less	48	$2,280,000	$47,500	$0	0.00%
$100k-200k	41	$6,245,000	$152,317	$0	0.00%
$400k-600k	17	$7,865,000	$462,647	$0	0.00%
$600k-1MM	4	$3,450,000	$862,500	$0	0.00%

2019 saw First Hope Bank A National Banking Association place emphasis on $200k-400k loans with 58 originations, totaling $16,410,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	45	$9,375,000	$208,333	$0	0.00%
$75k-100k	41	$8,815,000	$215,000	$0	0.00%
$50k-75k	32	$4,170,000	$130,313	$0	0.00%
$150k-250k	24	$6,960,000	$290,000	$0	0.00%
$50k or less	9	$935,000	$103,889	$0	0.00%
$250k+	8	$2,000,000	$250,000	$0	0.00%

First Hope Bank A National Banking Association lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $75k-100k, with 41 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	168	$36,250,000	$215,774	$0	0.00%

First Hope Bank A National Banking Association lent most frequently to those with DTI ratios of Exempt%, with 168 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	139	$29,425,000	$211,691	$0	0.00%
Not applicable	6	$3,280,000	$546,667	$0	0.00%
Not provided	17	$1,425,000	$83,824	$0	0.00%
Black	3	$1,245,000	$415,000	$0	0.00%
Asian	2	$740,000	$370,000	$0	0.00%
Chinese	1	$135,000	$135,000	$0	0.00%

Approval Rates

Total approvals of all applications
83.57%

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

Pick Rate

Approvals leading to origination
95.83%

First Hope Bank A National Banking Association has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	168	$36,250,000	$215,774

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	4	$2,150,000	$537,500
Single Family (1-4 Units):Site-Built	164	$34,100,000	$207,927

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Struggling to pay mortgage	1	16.7%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Trouble during payment process	3	50.0%
FIRST NATIONAL BANK OF OMAHA	Conventional home mortgage	Closing on a mortgage	2	33.3%

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	$65,806
First Hope Bank, A National Banking Association	161 Newton Sparta Road Newton, NJ 7860	Full Service B&M	$75,321
First Hope Bank, A National Banking Association	220 Woodport Road, Aka Route 181 Sparta, NJ 7871	Full Service B&M	$64,074
First Hope Bank, A National Banking Association	41 Rt 46 Hackettstown, NJ 7840	Full Service B&M	$49,960
First Hope Bank, A National Banking Association	Route 46 Great Meadows, NJ 7838	Full Service B&M	$73,005
First Hope Bank, A National Banking Association	Route 94 Blairstown, NJ 7825	Full Service B&M	$102,779

For 2019, First Hope Bank A National Banking Association had 6 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$19,272
Net interest income	$16,074
Total noninterest income	$6,350
Gross Fiduciary activities income	$1,889
Service charges on deposit accounts	$824
Trading account gains and fees	$0
Additional Noninterest Income	$3,637
Pre-tax net operating income	$3,327
Securities gains (or losses, -)	$-7
Income before extraordinary items	$2,555
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,555
Minority interest net income	$0
Net income	$2,555
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$2,560

First Hope Bank A National Banking Association's gross interest income from loans was $19,272,000.
First Hope Bank A National Banking Association's net interest income from loans was $16,074,000.
First Hope Bank A National Banking Association's fee based income from loans was $824,000.
First Hope Bank A National Banking Association's net income from loans was $2,555,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,198
Provision for credit losses	$39
Total noninterest expense	$19,058
Salaries and employee benefits	$11,081
Premises and equipment expense	$2,816
Additional noninterest expense	$5,161
Applicable income taxes	$765
Net charge-offs	$210
Cash dividends	$515

First Hope Bank A National Banking Association's interest expense for loans was $3,198,000.
First Hope Bank A National Banking Association's payroll and benefits expense were $11,081,000.
First Hope Bank A National Banking Association's property, plant and equipment expenses $2,816,000.

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	1.0%
Multifamily residential loans	0.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	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	$443,686
Deposits held in domestic offices	$443,686
Deposits by Individuals, partnerships, and corporations	$385,626
Deposits by U.S. Government	$6
Deposits by States and political subdivisions in the U.S.	$58,054
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	$53,708
Demand deposits	$48,162
Nontransaction accounts	$389,978
Money market deposit accounts (MMDAs)	$39,652
Other savings deposits (excluding MMDAs)	$284,263
Total time deposits	$66,063
Total time and savings deposits	$395,524
Noninterest-bearing deposits	$33,818
Interest-bearing deposits	$409,868
Retail deposits	$434,422
IRAs and Keogh plan accounts	$7,383
Brokered deposits	$1
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$520,821
Cash & Balances due from depository institutions	$21,714
Interest-bearing balances	$19,051
Total securities	$113,162
Federal funds sold & reverse repurchase	$0
Net loans and leases	$354,933
Loan and leases loss allowance	$4,135
Trading account assets	$0
Bank premises and fixed assets	$13,095
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$17,917

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$520,821
Total Liabilities	$472,030
Total deposits	$443,686
Interest-bearing deposits	$409,868
Deposits held in domestic offices	$443,686
% insured (estimated)	$73
Federal funds purchased and repurchase agreements	$18,918
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$9,426

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$354,933
Loan and leases loss allowance	$4,135
Total loans and leases (domestic)	$359,068
All real estate loans	$324,884
Real estate loans in domestic offices	$324,884
Construction and development loans	$9,816
Residential 1-4 family construction	$1,300
Other construction, all land development and other land	$8,516
Loans secured by nonfarm nonresidential properties	$197,564
Nonfarm nonresidential secured by owner-occupied properties	$105,202
Commercial real estate & other non-farm, non-residential	$92,362
Multifamily residential real estate	$27,741
1-4 family residential loans	$89,747
Farmland loans	$16
Loans held in foreign offices	$0
Farm loans	$52
Commercial and industrial loans	$28,828
To non-U.S. addressees	$0
Loans to individuals	$1,517
Credit card loans	$0
Related Plans	$217
Consumer Auto Loans	$62
Other loans to individuals	$1,238
All other loans & leases	$3,786
Loans to foreign governments and official institutions	$0
Other loans	$129
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	$622
Non 1-4 family restructured loans & leases	$262
Total loans and leases (foreign)	$0

First Hope Bank A National Banking Association had $354,933,000 of loans outstanding in 2019. $324,884,000 of loans were in real estate loans. $9,816,000 of loans were in development loans. $27,741,000 of loans were in multifamily mortgage loans. $89,747,000 of loans were in 1-4 family mortgage loans. $52,000 of loans were in farm loans. $0 of loans were in credit card loans. $62,000 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	205	$64,394	$314,117
Nonfarm, nonresidential loans - <$100k	13	$437	$33,615
Nonfarm, nonresidential loans - $100-250k	58	$7,013	$120,914
Nonfarm, nonresidential loans - $250k-1MM	134	$56,944	$424,955
Commercial & Industrial, US addressed loans - <$1MM	158	$18,231	$115,386
Commercial & Industrial, US addressed loans - <$100k	87	$1,174	$13,494
Commercial & Industrial, US addressed loans - $100-250k	32	$2,560	$80,000
Commercial & Industrial, US addressed loans - $250k-1MM	39	$14,497	$371,718
Farmland loans - <$1MM	1	$16	$16,000
Farmland loans - $250k-1MM	1	$16	$16,000
Agriculture operations loans - <$1MM	1	$47	$47,000
Agriculture operations loans - <$100k	1	$47	$47,000