First Montana Bank Mortgage Rates, Fees & Info

Missoula, MT

LEI: 5493005XIMS68J4ZQ284

Tax ID: 81-0159247

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Mortgage Data

Bank Data

Review & Overview

First Montana Bank is a smaller bank specializing in Home Purchase and Refi loans. First Montana 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 by origination volume include: Kalispell, Butte, Missoula, Bozeman, and Helena among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Montana Bank 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

73

Origination Dollar Volume (All Markets)

$13,735,000

Employee count

84

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
Outside of Metro Areas 31 $4,805,000 $155,000 $0 0.00%
Kalispell, MT (FHA|USDA|VA) 5 $3,035,000 $607,000 $0 0.00%
Butte-Silver Bow, MT (FHA|USDA|VA) 21 $2,835,000 $135,000 $0 0.00%
MISSOULA, MT (FHA|USDA|VA) 9 $1,955,000 $217,222 $0 0.00%
Bozeman, MT (FHA|USDA|VA) 4 $830,000 $207,500 $0 0.00%
Helena, MT (FHA|USDA|VA) 3 $275,000 $91,667 $0 0.00%
First Montana Bank's top markets include Kalispell, Butte, Missoula, Bozeman, and Helena among others.

Their top states include:
  • Montana (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 71 $13,415,000 $188,944 $0 0.00%
    FHA 1 $235,000 $235,000 $0 0.00%
    VA 1 $85,000 $85,000 $0 0.00%

    For 2018, First Montana Bank's most frequently originated type of loan was Conventional, with 71 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 38 $5,670,000 $149,211 $0 0.00%
    Refi 28 $6,860,000 $245,000 $0 0.00%
    Home Improvement 6 $1,100,000 $183,333 $0 0.00%
    Other 1 $105,000 $105,000 $0 0.00%

    For 2018, First Montana Bank's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 73 $13,735,000 $188,151 $0 0.00%

    For 2018, First Montana Bank's most frequently cited loan duration was Other, with 73 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 29 $4,005,000 $138,103 $0 0.00%
    $100,000 or less 22 $1,340,000 $60,909 $0 0.00%
    $200k-400k 19 $5,225,000 $275,000 $0 0.00%
    $400k-600k 2 $990,000 $495,000 $0 0.00%
    $1MM+ 1 $2,175,000 $2,175,000 $0 0.00%

    2018 saw First Montana Bank place emphasis on $100k-200k loans with 29 originations, totaling $4,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 14 $1,830,000 $130,714 $0 0.00%
    $50k or less 12 $1,170,000 $97,500 $0 0.00%
    $75k-100k 12 $1,680,000 $140,000 $0 0.00%
    $150k-250k 6 $1,420,000 $236,667 $0 0.00%
    $100k-150k 5 $965,000 $193,000 $0 0.00%
    $250k+ 4 $740,000 $185,000 $0 0.00%

    First Montana Bank lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $50k or less, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 73 $13,735,000 $188,151 $0 0.00%

    First Montana Bank lent most frequently to those with DTI ratios of Exempt%, with 73 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 52 $7,800,000 $150,000 $0 0.00%
    Not applicable 18 $5,630,000 $312,778 $0 0.00%
    Asian 1 $195,000 $195,000 $0 0.00%
    Not provided 1 $85,000 $85,000 $0 0.00%
    Asian Indian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.60%

    First Montana Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    61.64%

    First Montana Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 73 $13,735,000 $188,151

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $4,415,000 $490,556
    Single Family (1-4 Units):Manufactured 7 $875,000 $125,000
    Single Family (1-4 Units):Site-Built 57 $8,445,000 $148,158

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 3 21.4%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 5 35.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Incorrect information on your report 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 7.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Montana Bank, Inc. 1121 Eastpark Anaconda, MT 59711 Full Service B&M $3,066
    First Montana Bank, Inc. 123 Main Street Anaconda, MT 59711 Full Service B&M $39,248
    First Montana Bank, Inc. 1336 Stoneridge Drive Bozeman, MT 59718 Full Service B&M $12,497
    First Montana Bank, Inc. 1940 Dewey Boulevard Butte, MT 59701 Full Service B&M $65,804
    First Montana Bank, Inc. 201 North Higgins Avenue Missoula, MT 59802 Full Service B&M $19,614
    First Montana Bank, Inc. 3309 Brooks St Missoula, MT 59801 Full Service B&M $9,669
    First Montana Bank, Inc. 504 Mineral Avenue Libby, MT 59923 Full Service B&M $54,144
    First Montana Bank, Inc. 600 East Missoula Avenue Troy, MT 59935 Full Service B&M $20,230
    First Montana Bank, Inc. 85 North Main Street Kalispell, MT 59901 Full Service B&M $24,041

    For 2018, First Montana Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,216
    Net interest income $12,598
    Total noninterest income $2,225
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $662
    Trading account gains and fees $0
    Additional Noninterest Income $1,563
    Pre-tax net operating income $4,082
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,003
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,003
    Minority interest net income $0
    Net income $3,003
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,003

    First Montana Bank's gross interest income from loans was $13,216,000.
    First Montana Bank's net interest income from loans was $12,598,000.
    First Montana Bank's fee based income from loans was $662,000.
    First Montana Bank's net income from loans was $3,003,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $618
    Provision for credit losses $127
    Total noninterest expense $10,614
    Salaries and employee benefits $5,812
    Premises and equipment expense $1,275
    Additional noninterest expense $3,527
    Applicable income taxes $1,079
    Net charge-offs $114
    Cash dividends $1,679

    First Montana Bank's interest expense for loans was $618,000.
    First Montana Bank's payroll and benefits expense were $5,812,000.
    First Montana Bank's property, plant and equipment expenses $1,275,000.

    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 4.0%
    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 2.0%
    Credit card loans 0.0%
    Other individual loans 2.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $250,707
    Deposits held in domestic offices $250,707
    Deposits by Individuals, partnerships, and corporations $243,153
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $7,320
    Deposits by Commercial banks and other depository institutions in U.S. $235
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $27,504
    Demand deposits $17,877
    Nontransaction accounts $223,204
    Money market deposit accounts (MMDAs) $38,501
    Other savings deposits (excluding MMDAs) $152,992
    Total time deposits $31,711
    Total time and savings deposits $232,831
    Noninterest-bearing deposits $79,339
    Interest-bearing deposits $171,368
    Retail deposits $247,776
    IRAs and Keogh plan accounts $9,361
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $308,281
    Cash & Balances due from depository institutions $4,420
    Interest-bearing balances $24
    Total securities $46,013
    Federal funds sold & reverse repurchase $0
    Net loans and leases $231,919
    Loan and leases loss allowance $2,333
    Trading account assets $0
    Bank premises and fixed assets $11,300
    Other real estate owned $0
    Goodwill and other intangibles $1,340
    All other assets $13,289

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $308,281
    Total Liabilities $275,309
    Total deposits $250,707
    Interest-bearing deposits $171,368
    Deposits held in domestic offices $250,707
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $7,127
    Trading liabilities $0
    Other borrowed funds $14,398
    Subordinated debt $0
    All other liabilities $3,077

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $231,919
    Loan and leases loss allowance $2,333
    Total loans and leases (domestic) $234,252
    All real estate loans $172,426
    Real estate loans in domestic offices $172,426
    Construction and development loans $23,373
    Residential 1-4 family construction $8,324
    Other construction, all land development and other land $15,049
    Loans secured by nonfarm nonresidential properties $100,041
    Nonfarm nonresidential secured by owner-occupied properties $69,780
    Commercial real estate & other non-farm, non-residential $30,261
    Multifamily residential real estate $8,641
    1-4 family residential loans $37,447
    Farmland loans $2,924
    Loans held in foreign offices $0
    Farm loans $424
    Commercial and industrial loans $41,246
    To non-U.S. addressees $0
    Loans to individuals $18,819
    Credit card loans $0
    Related Plans $303
    Consumer Auto Loans $4,260
    Other loans to individuals $14,256
    All other loans & leases $1,337
    Loans to foreign governments and official institutions $0
    Other loans $1,337
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,287
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $587
    Non 1-4 family restructured loans & leases $351
    Total loans and leases (foreign) $0

    First Montana Bank had $231,919,000 of loans outstanding in 2018. $172,426,000 of loans were in real estate loans. $23,373,000 of loans were in development loans. $8,641,000 of loans were in multifamily mortgage loans. $37,447,000 of loans were in 1-4 family mortgage loans. $424,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,260,000 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 259 $62,876 $242,764
    Nonfarm, nonresidential loans - <$100k 44 $2,278 $51,773
    Nonfarm, nonresidential loans - $100-250k 92 $11,322 $123,065
    Nonfarm, nonresidential loans - $250k-1MM 123 $49,276 $400,618
    Commercial & Industrial, US addressed loans - <$1MM 503 $34,864 $69,312
    Commercial & Industrial, US addressed loans - <$100k 359 $8,218 $22,891
    Commercial & Industrial, US addressed loans - $100-250k 90 $8,558 $95,089
    Commercial & Industrial, US addressed loans - $250k-1MM 54 $18,088 $334,963
    Farmland loans - <$1MM 10 $1,220 $122,000
    Farmland loans - <$100k 4 $260 $65,000
    Farmland loans - $100-250k 4 $422 $105,500
    Farmland loans - $250k-1MM 2 $538 $269,000
    Agriculture operations loans - <$1MM 4 $424 $106,000
    Agriculture operations loans - <$100k 1 $52 $52,000
    Agriculture operations loans - $100-250k 3 $372 $124,000