First Liberty Bank Mortgage Rates, Fees & Info

Oklahoma City, OK

LEI: 5493005WCUTOOZMTV053

Tax ID: 73-0351620

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Liberty Bank is a smaller bank specializing in Home Purchase loans. First Liberty Bank 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 include Oklahoma City, Los Angeles, Dallas, Tulsa, and Houston among others. First Liberty Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

561

Origination Dollar Volume (All Markets)

$137,835,000

Employee count

70

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
OKLAHOMA CITY, OK (FHA|USDA|VA) 492 $113,050,000 $229,776 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $6,255,000 $6,255,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 15 $5,125,000 $341,667 $0 0.00%
TULSA, OK (FHA|USDA|VA) 7 $2,665,000 $380,714 $0 0.00%
Outside of Metro Areas 8 $1,490,000 $186,250 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 5 $1,435,000 $287,000 $0 0.00%
Shawnee, OK (FHA|USDA|VA) 8 $1,330,000 $166,250 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $560,000 $280,000 $0 0.00%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
MIDLAND, TX (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
Stillwater, OK (FHA|USDA|VA) 3 $535,000 $178,333 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 1 $535,000 $535,000 $0 0.00%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $455,000 $455,000 $0 0.00%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
YUMA, AZ (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
McAlester, OK (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
FLAGSTAFF, AZ (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
PITTSBURGH, PA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
COLUMBUS, OH (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
Norwalk, OH (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Altus, OK (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
Marinette, WI-MI (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
Weatherford, OK (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%

First Liberty Bank's top markets include Oklahoma City, Los Angeles, Dallas, Tulsa, and Houston among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 518 $125,540,000 $242,355 $0 0.00%
FHA 24 $5,500,000 $229,167 $0 0.00%
VA 19 $6,795,000 $357,632 $0 0.00%

For the 2021 period, First Liberty Bank's most frequently originated loan type of loans were Conventional, with 518 originations. Their 2nd most popular type is FHA, with 24 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 373 $92,115,000 $246,957 $0 0.00%
Cash Out Refi 131 $26,795,000 $204,542 $0 0.00%
Refi 50 $18,260,000 $365,200 $0 0.00%
Home Improvement 5 $465,000 $93,000 $0 0.00%
Other 2 $200,000 $100,000 $0 0.00%

For the 2021, First Liberty Bank's most frequently cited loan purpose of loans were Home Purchase, with 373 originations. The 2nd most popular reason of loans were Cash Out Refi, with 131 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 561 $137,835,000 $245,695 $0 0.00%

For the 2021, First Liberty Bank's most frequently cited loan length of loans were Other, with 561 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 210 $30,250,000 $144,048 $0 0.00%
$200k-400k 168 $46,370,000 $276,012 $0 0.00%
$100,000 or less 106 $8,070,000 $76,132 $0 0.00%
$400k-600k 59 $29,295,000 $496,525 $0 0.00%
$600k-1MM 10 $7,490,000 $749,000 $0 0.00%
$1MM+ 8 $16,360,000 $2,045,000 $0 0.00%

2021 saw First Liberty Bank place emphasis on $100k-200k loans with 210 originations, totaling $30,250,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 90 $22,150,000 $246,111 $0 0.00%
$50k-75k 74 $14,980,000 $202,432 $0 0.00%
$250k+ 70 $30,920,000 $441,714 $0 0.00%
$150k-250k 67 $20,015,000 $298,731 $0 0.00%
$75k-100k 60 $12,460,000 $207,667 $0 0.00%
$50k or less 38 $5,370,000 $141,316 $0 0.00%

First Liberty Bank lent most frequently to those with incomes in the $100k-150k range, with 90 originations. The second most popular income band? $50k-75k, with 74 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 561 $137,835,000 $245,695 $0 0.00%

First Liberty Bank lent most frequently to those with DTI ratios of Exempt%, with 561 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 313 $89,845,000 $287,045 $0 0.00%
Not applicable 156 $29,720,000 $190,513 $0 0.00%
Not provided 29 $6,905,000 $238,103 $0 0.00%
Asian 26 $4,640,000 $178,462 $0 0.00%
Black 17 $3,325,000 $195,588 $0 0.00%
American Indian 15 $2,585,000 $172,333 $0 0.00%
Native Hawaiian 3 $395,000 $131,667 $0 0.00%
Asian Indian 1 $305,000 $305,000 $0 0.00%
Chinese 1 $115,000 $115,000 $0 0.00%

Approval Rates

Total approvals of all applications
93.51%

First Liberty Bank has an average approval rate.

Pick Rate

Approvals leading to origination
82.18%

First Liberty Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 561 $137,835,000 $245,695

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
561 $137,835,000 $245,695

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 2.9%
FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 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 Home equity loan or line of credit (HELOC) Trouble during payment process 6 17.6%
FIRST HORIZON BANK Other type of 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 VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%
FIRST HORIZON BANK Conventional home mortgage Closing on a mortgage 2 5.9%
FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 1 2.9%
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%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
First Liberty Bank 3500 24th Ave Nw Norman, OK 73069 Full Service B&M $20,931
First Liberty Bank 9601 N. May Avenue Oklahoma City, OK 73120 Full Service B&M $449,896

For 2021, First Liberty Bank had 2 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $22,580
Net interest income $19,681
Total noninterest income $4,384
Gross Fiduciary activities income $0
Service charges on deposit accounts $162
Trading account gains and fees $0
Additional Noninterest Income $4,222
Pre-tax net operating income $8,261
Securities gains (or losses, -) $0
Income before extraordinary items $6,033
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $6,033
Minority interest net income $0
Net income $6,033
Sale, conversion, retirement of capital stock, net $0
Net operating income $6,033

First Liberty Bank's gross interest income from loans was $22,580,000.
First Liberty Bank's net interest income from loans was $19,681,000.
First Liberty Bank's fee based income from loans was $162,000.
First Liberty Bank's net income from loans was $6,033,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,899
Provision for credit losses $750
Total noninterest expense $15,054
Salaries and employee benefits $9,909
Premises and equipment expense $1,092
Additional noninterest expense $4,053
Applicable income taxes $2,228
Net charge-offs $132
Cash dividends $1,997

First Liberty Bank's interest expense for loans was $2,899,000.
First Liberty Bank's payroll and benefits expense were $9,909,000.
First Liberty Bank's property, plant and equipment expenses $1,092,000.

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 $478,542
Deposits held in domestic offices $478,542
Deposits by Individuals, partnerships, and corporations $413,906
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $40,666
Deposits by Commercial banks and other depository institutions in U.S. $23,969
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $200,130
Demand deposits $186,367
Nontransaction accounts $278,411
Money market deposit accounts (MMDAs) $130,960
Other savings deposits (excluding MMDAs) $2,361
Total time deposits $145,088
Total time and savings deposits $292,174
Noninterest-bearing deposits $142,050
Interest-bearing deposits $336,492
Retail deposits $430,558
IRAs and Keogh plan accounts $5,352
Brokered deposits $15,465
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $550,388
Cash & Balances due from depository institutions $57,632
Interest-bearing balances $55,673
Total securities $31,101
Federal funds sold & reverse repurchase $0
Net loans and leases $426,350
Loan and leases loss allowance $6,340
Trading account assets $0
Bank premises and fixed assets $14,479
Other real estate owned $216
Goodwill and other intangibles $0
All other assets $20,610

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $550,388
Total Liabilities $491,294
Total deposits $478,542
Interest-bearing deposits $336,492
Deposits held in domestic offices $478,542
% insured (estimated) $75
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $9,000
Subordinated debt $0
All other liabilities $3,752

Issued Loan Types

Type Value (in 000's)
Net loans and leases $426,350
Loan and leases loss allowance $6,340
Total loans and leases (domestic) $432,690
All real estate loans $291,536
Real estate loans in domestic offices $291,536
Construction and development loans $38,181
Residential 1-4 family construction $7,757
Other construction, all land development and other land $30,424
Loans secured by nonfarm nonresidential properties $140,986
Nonfarm nonresidential secured by owner-occupied properties $28,600
Commercial real estate & other non-farm, non-residential $112,386
Multifamily residential real estate $11,406
1-4 family residential loans $100,737
Farmland loans $226
Loans held in foreign offices $0
Farm loans $812
Commercial and industrial loans $139,405
To non-U.S. addressees $0
Loans to individuals $937
Credit card loans $0
Related Plans $0
Consumer Auto Loans $220
Other loans to individuals $717
All other loans & leases $0
Loans to foreign governments and official institutions $0
Other loans $0
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 $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

First Liberty Bank had $426,350,000 of loans outstanding in 2021. $291,536,000 of loans were in real estate loans. $38,181,000 of loans were in development loans. $11,406,000 of loans were in multifamily mortgage loans. $100,737,000 of loans were in 1-4 family mortgage loans. $812,000 of loans were in farm loans. $0 of loans were in credit card loans. $220,000 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 73 $25,372 $347,562
Nonfarm, nonresidential loans - <$100k 4 $275 $68,750
Nonfarm, nonresidential loans - $100-250k 22 $2,776 $126,182
Nonfarm, nonresidential loans - $250k-1MM 47 $22,321 $474,915
Commercial & Industrial, US addressed loans - <$1MM 482 $62,899 $130,496
Commercial & Industrial, US addressed loans - <$100k 246 $7,033 $28,589
Commercial & Industrial, US addressed loans - $100-250k 95 $11,338 $119,347
Commercial & Industrial, US addressed loans - $250k-1MM 141 $44,528 $315,801
Farmland loans - <$1MM 2 $226 $113,000
Farmland loans - $100-250k 1 $67 $67,000
Farmland loans - $250k-1MM 1 $159 $159,000
Agriculture operations loans - <$1MM 2 $262 $131,000
Agriculture operations loans - $100-250k 2 $262 $131,000