First Hope Bank A National Banking Association Mortgage Rates, Fees & Info
Hope, NJLEI: 5493003XLOX5FDT9R120
Tax ID: 22-0998445
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Mortgage Data
Bank Data
Review & Overview
First Hope Bank A National Banking Association is a smaller bank specializing in Refi and 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.) Their top markets by origination volume include: New York, Allentown, Philadelphia, Myrtle Beach, and East Stroudsburg among others. We have data for 14 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
260Origination Dollar Volume (All Markets)
$71,610,000Employee count
99Top 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) | 166 | $53,160,000 | $320,241 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 72 | $13,020,000 | $180,833 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 4 | $1,530,000 | $382,500 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $0 | 0.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 4 | $600,000 | $150,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $365,000 | $365,000 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $0 | 0.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 256 | $70,360,000 | $274,844 | $0 | 0.00% |
| FHA | 4 | $1,250,000 | $312,500 | $0 | 0.00% |
For 2020, First Hope Bank A National Banking Association's most frequently originated type of loan was Conventional, with 256 originations. Their 2nd most popular type was FHA, with 4 originations.
Loan Reason
For 2020, First Hope Bank A National Banking Association's most frequently cited loan purpose was Refi, with 159 originations. The 2nd most popular reason was Home Purchase, with 49 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 260 | $71,610,000 | $275,423 | $0 | 0.00% |
For 2020, First Hope Bank A National Banking Association's most frequently cited loan duration was Other, with 260 originations.
Loan Sizing
2020 saw First Hope Bank A National Banking Association place emphasis on $200k-400k loans with 133 originations, totaling $39,225,000 in origination value.
Applicant Income
First Hope Bank A National Banking Association lent most frequently to those with incomes in the $100k-150k range, with 90 originations. The second most popular income band? $150k-250k, with 58 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 260 | $71,610,000 | $275,423 | $0 | 0.00% |
First Hope Bank A National Banking Association lent most frequently to those with DTI ratios of Exempt%, with 260 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications87.98%
First Hope Bank A National Banking Association has an average approval rate.
Pick Rate
Approvals leading to origination85.38%
First Hope Bank A National Banking Association has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 260 | $71,610,000 | $275,423 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 260 | $71,610,000 | $275,423 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST NATIONAL BANK OF OMAHA | Conventional home mortgage | Struggling to pay mortgage | 2 | 28.6% |
| FIRST NATIONAL BANK OF OMAHA | Conventional home mortgage | Trouble during payment process | 2 | 28.6% |
| FIRST NATIONAL BANK OF OMAHA | FHA mortgage | Struggling to pay mortgage | 1 | 14.3% |
| FIRST NATIONAL BANK OF OMAHA | Other type of mortgage | Trouble during payment process | 1 | 14.3% |
| FIRST NATIONAL BANK OF OMAHA | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 14.3% |
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 | $79,558 |
| First Hope Bank, A National Banking Association | 161 Newton Sparta Road Newton, NJ 7860 | Full Service B&M | $96,131 |
| First Hope Bank, A National Banking Association | 220 Woodport Road, Aka Route 181 Sparta, NJ 7871 | Full Service B&M | $81,571 |
| First Hope Bank, A National Banking Association | 41 Rt 46 Hackettstown, NJ 7840 | Full Service B&M | $68,123 |
| First Hope Bank, A National Banking Association | Route 46 Great Meadows, NJ 7838 | Full Service B&M | $86,491 |
| First Hope Bank, A National Banking Association | Route 94 Blairstown, NJ 7825 | Full Service B&M | $126,291 |
For 2020, First Hope Bank A National Banking Association had 6 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $18,479 |
| Net interest income | $16,470 |
| Total noninterest income | $7,412 |
| Gross Fiduciary activities income | $1,967 |
| Service charges on deposit accounts | $577 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,868 |
| Pre-tax net operating income | $3,519 |
| Securities gains (or losses, -) | $-18 |
| Income before extraordinary items | $2,700 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,700 |
| Minority interest net income | $0 |
| Net income | $2,700 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,714 |
First Hope Bank A National Banking Association's gross interest income from loans was $18,479,000.
First Hope Bank A National Banking Association's net interest income from loans was $16,470,000.
First Hope Bank A National Banking Association's fee based income from loans was $577,000.
First Hope Bank A National Banking Association's net income from loans was $2,700,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,009 |
| Provision for credit losses | $915 |
| Total noninterest expense | $19,448 |
| Salaries and employee benefits | $11,341 |
| Premises and equipment expense | $2,772 |
| Additional noninterest expense | $5,335 |
| Applicable income taxes | $801 |
| Net charge-offs | $934 |
| Cash dividends | $358 |
First Hope Bank A National Banking Association's interest expense for loans was $2,009,000.
First Hope Bank A National Banking Association's payroll and benefits expense were $11,341,000.
First Hope Bank A National Banking Association's property, plant and equipment expenses $2,772,000.
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 | $570,754 |
| Deposits held in domestic offices | $570,754 |
| Deposits by Individuals, partnerships, and corporations | $500,246 |
| Deposits by U.S. Government | $11 |
| Deposits by States and political subdivisions in the U.S. | $70,496 |
| 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 | $77,565 |
| Demand deposits | $71,798 |
| Nontransaction accounts | $493,188 |
| Money market deposit accounts (MMDAs) | $56,098 |
| Other savings deposits (excluding MMDAs) | $370,271 |
| Total time deposits | $66,819 |
| Total time and savings deposits | $498,955 |
| Noninterest-bearing deposits | $46,630 |
| Interest-bearing deposits | $524,124 |
| Retail deposits | $561,063 |
| IRAs and Keogh plan accounts | $7,838 |
| Brokered deposits | $1 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $634,155 |
| Cash & Balances due from depository institutions | $106,129 |
| Interest-bearing balances | $103,774 |
| Total securities | $107,370 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $385,787 |
| Loan and leases loss allowance | $4,116 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $12,759 |
| Other real estate owned | $600 |
| Goodwill and other intangibles | $0 |
| All other assets | $21,510 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $634,155 |
| Total Liabilities | $580,998 |
| Total deposits | $570,754 |
| Interest-bearing deposits | $524,124 |
| Deposits held in domestic offices | $570,754 |
| % insured (estimated) | $70 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $10,244 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $385,787 |
| Loan and leases loss allowance | $4,116 |
| Total loans and leases (domestic) | $389,903 |
| All real estate loans | $332,162 |
| Real estate loans in domestic offices | $332,162 |
| Construction and development loans | $12,368 |
| Residential 1-4 family construction | $1,007 |
| Other construction, all land development and other land | $11,361 |
| Loans secured by nonfarm nonresidential properties | $197,064 |
| Nonfarm nonresidential secured by owner-occupied properties | $109,324 |
| Commercial real estate & other non-farm, non-residential | $87,740 |
| Multifamily residential real estate | $27,026 |
| 1-4 family residential loans | $95,704 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $47 |
| Commercial and industrial loans | $54,660 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $562 |
| Credit card loans | $0 |
| Related Plans | $160 |
| Consumer Auto Loans | $33 |
| Other loans to individuals | $369 |
| All other loans & leases | $2,471 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $16 |
| 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 | $308 |
| Non 1-4 family restructured loans & leases | $238 |
| Total loans and leases (foreign) | $0 |
First Hope Bank A National Banking Association had $385,787,000 of loans outstanding in 2020. $332,162,000 of loans were in real estate loans. $12,368,000 of loans were in development loans. $27,026,000 of loans were in multifamily mortgage loans. $95,704,000 of loans were in 1-4 family mortgage loans. $47,000 of loans were in farm loans. $0 of loans were in credit card loans. $33,000 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 | 199 | $62,408 | $313,608 |
| Nonfarm, nonresidential loans - <$100k | 8 | $362 | $45,250 |
| Nonfarm, nonresidential loans - $100-250k | 60 | $7,958 | $132,633 |
| Nonfarm, nonresidential loans - $250k-1MM | 131 | $54,088 | $412,885 |
| Commercial & Industrial, US addressed loans - <$1MM | 372 | $36,328 | $97,656 |
| Commercial & Industrial, US addressed loans - <$100k | 243 | $5,956 | $24,510 |
| Commercial & Industrial, US addressed loans - $100-250k | 71 | $9,283 | $130,746 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 58 | $21,089 | $363,603 |
| Agriculture operations loans - <$1MM | 1 | $42 | $42,000 |
| Agriculture operations loans - <$100k | 1 | $42 | $42,000 |