First Federal Bank Mortgage Rates, Fees & Info
Dunn, NCLEI: 5493004W7AEPOP0B0249
Tax ID: 56-0680378
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Mortgage Data
Bank Data
Review & Overview
First Federal Bank is a smaller bank specializing in various types of mortgages.We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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Originations
0Origination Dollar Volume (All Markets)
$0Employee count
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Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Other type of mortgage | Closing on a mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 6 | 17.6% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 10 | 29.4% |
| FIRST HORIZON BANK | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | FHA mortgage | Closing on a mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 2 | 5.9% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 2 | 5.9% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.9% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 2.9% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First Federal Bank | 105 North Johnson Street Benson, NC 27504 | Full Service B&M | $21,438 |
| First Federal Bank | 110 West Dupree Street Angier, NC 27501 | Full Service B&M | $26,896 |
| First Federal Bank | 200 E Cumberland St Dunn, NC 28334 | Full Service B&M | $88,860 |
| First Federal Bank | 200 E Divine St, Corporate Center Dunn, NC 28334 | Full Service B&M | $0 |
| First Federal Bank | 442 East Main Street Clayton, NC 27520 | Full Service B&M | $9,268 |
| First Federal Bank | 540 East Jackson Boulevard Erwin, NC 28339 | Full Service B&M | $20,931 |
| First Federal Bank | 603 North Judd Parkway N.E. Fuquay Varina, NC 27526 | Full Service B&M | $20,658 |
For 2021, First Federal Bank had 7 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $7,555 |
| Net interest income | $7,121 |
| Total noninterest income | $839 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $235 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $604 |
| Pre-tax net operating income | $734 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $699 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $699 |
| Minority interest net income | $0 |
| Net income | $699 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $699 |
First Federal Bank's gross interest income from loans was $7,555,000.
First Federal Bank's net interest income from loans was $7,121,000.
First Federal Bank's fee based income from loans was $235,000.
First Federal Bank's net income from loans was $699,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $434 |
| Provision for credit losses | $0 |
| Total noninterest expense | $7,226 |
| Salaries and employee benefits | $4,294 |
| Premises and equipment expense | $882 |
| Additional noninterest expense | $2,050 |
| Applicable income taxes | $35 |
| Net charge-offs | $0 |
| Cash dividends | $0 |
First Federal Bank's interest expense for loans was $434,000.
First Federal Bank's payroll and benefits expense were $4,294,000.
First Federal Bank's property, plant and equipment expenses $882,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 2.0% |
| HELOC loans | 0.0% |
| All other family | 2.0% |
| 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 | $198,677 |
| Deposits held in domestic offices | $198,677 |
| Deposits by Individuals, partnerships, and corporations | $192,996 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $5,681 |
| 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 | $67,987 |
| Demand deposits | $67,987 |
| Nontransaction accounts | $130,690 |
| Money market deposit accounts (MMDAs) | $66,667 |
| Other savings deposits (excluding MMDAs) | $16,598 |
| Total time deposits | $47,425 |
| Total time and savings deposits | $130,690 |
| Noninterest-bearing deposits | $41,822 |
| Interest-bearing deposits | $156,855 |
| Retail deposits | $187,288 |
| IRAs and Keogh plan accounts | $4,676 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $221,473 |
| Cash & Balances due from depository institutions | $14,922 |
| Interest-bearing balances | $13,785 |
| Total securities | $57,719 |
| Federal funds sold & reverse repurchase | $2,000 |
| Net loans and leases | $139,786 |
| Loan and leases loss allowance | $1,836 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,435 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $5,611 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $221,473 |
| Total Liabilities | $199,267 |
| Total deposits | $198,677 |
| Interest-bearing deposits | $156,855 |
| Deposits held in domestic offices | $198,677 |
| % insured (estimated) | $79 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $590 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $139,786 |
| Loan and leases loss allowance | $1,836 |
| Total loans and leases (domestic) | $141,622 |
| All real estate loans | $129,903 |
| Real estate loans in domestic offices | $129,903 |
| Construction and development loans | $25,291 |
| Residential 1-4 family construction | $14,599 |
| Other construction, all land development and other land | $10,692 |
| Loans secured by nonfarm nonresidential properties | $34,765 |
| Nonfarm nonresidential secured by owner-occupied properties | $14,837 |
| Commercial real estate & other non-farm, non-residential | $19,928 |
| Multifamily residential real estate | $1,811 |
| 1-4 family residential loans | $67,975 |
| Farmland loans | $61 |
| Loans held in foreign offices | $0 |
| Farm loans | $200 |
| Commercial and industrial loans | $10,825 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $670 |
| Credit card loans | $0 |
| Related Plans | $90 |
| Consumer Auto Loans | $198 |
| Other loans to individuals | $382 |
| All other loans & leases | $24 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $24 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $306 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $325 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
First Federal Bank had $139,786,000 of loans outstanding in 2021. $129,903,000 of loans were in real estate loans. $25,291,000 of loans were in development loans. $1,811,000 of loans were in multifamily mortgage loans. $67,975,000 of loans were in 1-4 family mortgage loans. $200,000 of loans were in farm loans. $0 of loans were in credit card loans. $198,000 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 | 63 | $18,270 | $290,000 |
| Nonfarm, nonresidential loans - <$100k | 14 | $645 | $46,071 |
| Nonfarm, nonresidential loans - $100-250k | 14 | $1,978 | $141,286 |
| Nonfarm, nonresidential loans - $250k-1MM | 35 | $15,647 | $447,057 |
| Commercial & Industrial, US addressed loans - <$1MM | 107 | $9,004 | $84,150 |
| Commercial & Industrial, US addressed loans - <$100k | 74 | $1,902 | $25,703 |
| Commercial & Industrial, US addressed loans - $100-250k | 20 | $2,342 | $117,100 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 13 | $4,760 | $366,154 |
| Farmland loans - <$1MM | 1 | $61 | $61,000 |
| Farmland loans - <$100k | 1 | $61 | $61,000 |
| Agriculture operations loans - <$1MM | 5 | $200 | $40,000 |
| Agriculture operations loans - <$100k | 5 | $200 | $40,000 |