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, Miami, Naples, and Baltimore 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 an average pick rate when compared to similar lenders.
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Originations
255Origination Dollar Volume (All Markets)
$65,685,000Employee count
106Top 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) | 160 | $46,670,000 | $291,688 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 79 | $13,965,000 | $176,772 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 2 | $1,290,000 | $645,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $905,000 | $905,000 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 0.00% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $105,000 | $105,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 253 | $64,815,000 | $256,186 | $0 | 0.00% |
| FHA | 2 | $870,000 | $435,000 | $0 | 0.00% |
For 2021, First Hope Bank A National Banking Association's most frequently originated type of loan was Conventional, with 253 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2021, First Hope Bank A National Banking Association's most frequently cited loan purpose was Refi, with 121 originations. The 2nd most popular reason was Home Purchase, with 46 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 255 | $65,685,000 | $257,588 | $0 | 0.00% |
For 2021, First Hope Bank A National Banking Association's most frequently cited loan duration was Other, with 255 originations.
Loan Sizing
2021 saw First Hope Bank A National Banking Association place emphasis on $200k-400k loans with 95 originations, totaling $27,325,000 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 76 originations. The second most popular income band? $150k-250k, with 63 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 255 | $65,685,000 | $257,588 | $0 | 0.00% |
First Hope Bank A National Banking Association lent most frequently to those with DTI ratios of Exempt%, with 255 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.62%
First Hope Bank A National Banking Association has an average approval rate.
Pick Rate
Approvals leading to origination90.59%
First Hope Bank A National Banking Association has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 255 | $65,685,000 | $257,588 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST NATIONAL BANK OF OMAHA | FHA mortgage | Improper use of your report | 1 | 25.0% |
| FIRST NATIONAL BANK OF OMAHA | Other type of mortgage | Struggling to pay mortgage | 1 | 25.0% |
| FIRST NATIONAL BANK OF OMAHA | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 25.0% |
| FIRST NATIONAL BANK OF OMAHA | Conventional home mortgage | Trouble during payment process | 1 | 25.0% |
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 | $92,079 |
| First Hope Bank, A National Banking Association | 161 Newton Sparta Road Newton, NJ 7860 | Full Service B&M | $93,727 |
| First Hope Bank, A National Banking Association | 220 Woodport Road, Aka Route 181 Sparta, NJ 7871 | Full Service B&M | $92,545 |
| First Hope Bank, A National Banking Association | 41 Rt 46 Hackettstown, NJ 7840 | Full Service B&M | $93,382 |
| First Hope Bank, A National Banking Association | Route 46 Great Meadows, NJ 7838 | Full Service B&M | $100,791 |
| First Hope Bank, A National Banking Association | Route 94 Blairstown, NJ 7825 | Full Service B&M | $134,053 |
For 2021, First Hope Bank A National Banking Association had 6 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $18,066 |
| Net interest income | $16,765 |
| Total noninterest income | $7,376 |
| Gross Fiduciary activities income | $2,057 |
| Service charges on deposit accounts | $543 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,776 |
| Pre-tax net operating income | $3,665 |
| Securities gains (or losses, -) | $55 |
| Income before extraordinary items | $2,846 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,846 |
| Minority interest net income | $0 |
| Net income | $2,846 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,802 |
First Hope Bank A National Banking Association's gross interest income from loans was $18,066,000.
First Hope Bank A National Banking Association's net interest income from loans was $16,765,000.
First Hope Bank A National Banking Association's fee based income from loans was $543,000.
First Hope Bank A National Banking Association's net income from loans was $2,846,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,301 |
| Provision for credit losses | $355 |
| Total noninterest expense | $20,121 |
| Salaries and employee benefits | $11,817 |
| Premises and equipment expense | $2,894 |
| Additional noninterest expense | $5,410 |
| Applicable income taxes | $874 |
| Net charge-offs | $-37 |
| Cash dividends | $551 |
First Hope Bank A National Banking Association's interest expense for loans was $1,301,000.
First Hope Bank A National Banking Association's payroll and benefits expense were $11,817,000.
First Hope Bank A National Banking Association's property, plant and equipment expenses $2,894,000.
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 | $646,511 |
| Deposits held in domestic offices | $646,511 |
| Deposits by Individuals, partnerships, and corporations | $565,756 |
| Deposits by U.S. Government | $8 |
| Deposits by States and political subdivisions in the U.S. | $80,747 |
| 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 | $88,753 |
| Demand deposits | $81,180 |
| Nontransaction accounts | $557,758 |
| Money market deposit accounts (MMDAs) | $68,353 |
| Other savings deposits (excluding MMDAs) | $420,167 |
| Total time deposits | $69,237 |
| Total time and savings deposits | $565,331 |
| Noninterest-bearing deposits | $52,896 |
| Interest-bearing deposits | $593,615 |
| Retail deposits | $634,575 |
| IRAs and Keogh plan accounts | $8,115 |
| Brokered deposits | $1 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $710,676 |
| Cash & Balances due from depository institutions | $148,608 |
| Interest-bearing balances | $146,249 |
| Total securities | $142,550 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $385,269 |
| Loan and leases loss allowance | $4,508 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $12,094 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $22,155 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $710,676 |
| Total Liabilities | $656,917 |
| Total deposits | $646,511 |
| Interest-bearing deposits | $593,615 |
| Deposits held in domestic offices | $646,511 |
| % insured (estimated) | $67 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $10,406 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $385,269 |
| Loan and leases loss allowance | $4,508 |
| Total loans and leases (domestic) | $389,777 |
| All real estate loans | $352,231 |
| Real estate loans in domestic offices | $352,231 |
| Construction and development loans | $8,969 |
| Residential 1-4 family construction | $1,037 |
| Other construction, all land development and other land | $7,932 |
| Loans secured by nonfarm nonresidential properties | $216,013 |
| Nonfarm nonresidential secured by owner-occupied properties | $115,380 |
| Commercial real estate & other non-farm, non-residential | $100,633 |
| Multifamily residential real estate | $29,557 |
| 1-4 family residential loans | $97,692 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $41 |
| Commercial and industrial loans | $29,103 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $413 |
| Credit card loans | $0 |
| Related Plans | $123 |
| Consumer Auto Loans | $17 |
| Other loans to individuals | $273 |
| All other loans & leases | $7,989 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $28 |
| 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 | $276 |
| Non 1-4 family restructured loans & leases | $210 |
| Total loans and leases (foreign) | $0 |
First Hope Bank A National Banking Association had $385,269,000 of loans outstanding in 2021. $352,231,000 of loans were in real estate loans. $8,969,000 of loans were in development loans. $29,557,000 of loans were in multifamily mortgage loans. $97,692,000 of loans were in 1-4 family mortgage loans. $41,000 of loans were in farm loans. $0 of loans were in credit card loans. $17,000 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 | 207 | $65,431 | $316,092 |
| Nonfarm, nonresidential loans - <$100k | 10 | $447 | $44,700 |
| Nonfarm, nonresidential loans - $100-250k | 57 | $7,650 | $134,211 |
| Nonfarm, nonresidential loans - $250k-1MM | 140 | $57,334 | $409,529 |
| Commercial & Industrial, US addressed loans - <$1MM | 160 | $17,062 | $106,638 |
| Commercial & Industrial, US addressed loans - <$100k | 90 | $944 | $10,489 |
| Commercial & Industrial, US addressed loans - $100-250k | 34 | $3,147 | $92,559 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 36 | $12,971 | $360,306 |
| Agriculture operations loans - <$1MM | 1 | $37 | $37,000 |
| Agriculture operations loans - <$100k | 1 | $37 | $37,000 |