First Montana Bank Mortgage Rates, Fees & Info
Missoula, MTLEI: 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
73Origination Dollar Volume (All Markets)
$13,735,000Employee count
84Top 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% |
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
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
2018 saw First Montana Bank place emphasis on $100k-200k loans with 29 originations, totaling $4,005,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications88.60%
First Montana Bank has an average approval rate.
Pick Rate
Approvals leading to origination61.64%
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
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 |