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: Butte, Missoula, Bozeman, Kalispell, 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 above 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
47Origination Dollar Volume (All Markets)
$6,585,000Employee count
86Top 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 | 28 | $3,240,000 | $115,714 | $0 | 0.00% |
| Butte-Silver Bow, MT (FHA|USDA|VA) | 10 | $1,410,000 | $141,000 | $0 | 0.00% |
| MISSOULA, MT (FHA|USDA|VA) | 4 | $930,000 | $232,500 | $0 | 0.00% |
| Bozeman, MT (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 0.00% |
| Kalispell, MT (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $0 | 0.00% |
| Helena, MT (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 46 | $6,280,000 | $136,522 | $0 | 0.00% |
| FHA | 1 | $305,000 | $305,000 | $0 | 0.00% |
For 2019, First Montana Bank's most frequently originated type of loan was Conventional, with 46 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2019, First Montana Bank's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Refi, with 21 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 47 | $6,585,000 | $140,106 | $0 | 0.00% |
For 2019, First Montana Bank's most frequently cited loan duration was Other, with 47 originations.
Loan Sizing
2019 saw First Montana Bank place emphasis on $100,000 or less loans with 22 originations, totaling $1,050,000 in origination value.
Applicant Income
First Montana Bank lent most frequently to those with incomes in the $50k or less range, with 19 originations. The second most popular income band? $75k-100k, with 8 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 47 | $6,585,000 | $140,106 | $0 | 0.00% |
First Montana Bank lent most frequently to those with DTI ratios of Exempt%, with 47 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 40 | $4,960,000 | $124,000 | $0 | 0.00% |
| Not applicable | 7 | $1,625,000 | $232,143 | $0 | 0.00% |
Approval Rates
Total approvals of all applications91.43%
First Montana Bank has an average approval rate.
Pick Rate
Approvals leading to origination74.47%
First Montana Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 47 | $6,585,000 | $140,106 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | VA mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 6.7% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 3 | 20.0% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First Montana Bank, Inc. | 1121 Eastpark Anaconda, MT 59711 | Full Service B&M | $3,480 |
| First Montana Bank, Inc. | 123 Main Street Anaconda, MT 59711 | Full Service B&M | $36,227 |
| First Montana Bank, Inc. | 1336 Stoneridge Drive Bozeman, MT 59718 | Full Service B&M | $11,406 |
| First Montana Bank, Inc. | 1940 Dewey Boulevard Butte, MT 59701 | Full Service B&M | $63,913 |
| First Montana Bank, Inc. | 201 North Higgins Avenue Missoula, MT 59802 | Full Service B&M | $22,672 |
| First Montana Bank, Inc. | 3309 Brooks St Missoula, MT 59801 | Full Service B&M | $10,872 |
| First Montana Bank, Inc. | 504 Mineral Avenue Libby, MT 59923 | Full Service B&M | $52,117 |
| First Montana Bank, Inc. | 600 East Missoula Avenue Troy, MT 59935 | Full Service B&M | $20,113 |
| First Montana Bank, Inc. | 85 North Main Street Kalispell, MT 59901 | Full Service B&M | $26,361 |
For 2019, First Montana Bank had 9 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $14,333 |
| Net interest income | $13,382 |
| Total noninterest income | $2,260 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $900 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,360 |
| Pre-tax net operating income | $4,355 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,221 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,221 |
| Minority interest net income | $0 |
| Net income | $3,221 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,221 |
First Montana Bank's gross interest income from loans was $14,333,000.
First Montana Bank's net interest income from loans was $13,382,000.
First Montana Bank's fee based income from loans was $900,000.
First Montana Bank's net income from loans was $3,221,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $951 |
| Provision for credit losses | $551 |
| Total noninterest expense | $10,736 |
| Salaries and employee benefits | $5,946 |
| Premises and equipment expense | $1,291 |
| Additional noninterest expense | $3,499 |
| Applicable income taxes | $1,134 |
| Net charge-offs | $318 |
| Cash dividends | $1,855 |
First Montana Bank's interest expense for loans was $951,000.
First Montana Bank's payroll and benefits expense were $5,946,000.
First Montana Bank's property, plant and equipment expenses $1,291,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| 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 | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 1.0% |
| 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 | $262,242 |
| Deposits held in domestic offices | $262,242 |
| Deposits by Individuals, partnerships, and corporations | $254,459 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $7,683 |
| Deposits by Commercial banks and other depository institutions in U.S. | $100 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $28,700 |
| Demand deposits | $19,172 |
| Nontransaction accounts | $233,542 |
| Money market deposit accounts (MMDAs) | $43,597 |
| Other savings deposits (excluding MMDAs) | $158,743 |
| Total time deposits | $31,202 |
| Total time and savings deposits | $243,070 |
| Noninterest-bearing deposits | $83,145 |
| Interest-bearing deposits | $179,097 |
| Retail deposits | $260,611 |
| IRAs and Keogh plan accounts | $8,501 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $322,982 |
| Cash & Balances due from depository institutions | $5,570 |
| Interest-bearing balances | $31 |
| Total securities | $42,701 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $248,380 |
| Loan and leases loss allowance | $2,566 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $11,631 |
| Other real estate owned | $20 |
| Goodwill and other intangibles | $1,215 |
| All other assets | $13,465 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $322,981 |
| Total Liabilities | $288,042 |
| Total deposits | $262,242 |
| Interest-bearing deposits | $179,097 |
| Deposits held in domestic offices | $262,242 |
| % insured (estimated) | $79 |
| Federal funds purchased and repurchase agreements | $9,037 |
| Trading liabilities | $0 |
| Other borrowed funds | $13,674 |
| Subordinated debt | $0 |
| All other liabilities | $3,089 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $248,380 |
| Loan and leases loss allowance | $2,566 |
| Total loans and leases (domestic) | $250,946 |
| All real estate loans | $190,731 |
| Real estate loans in domestic offices | $190,731 |
| Construction and development loans | $23,251 |
| Residential 1-4 family construction | $9,547 |
| Other construction, all land development and other land | $13,704 |
| Loans secured by nonfarm nonresidential properties | $117,520 |
| Nonfarm nonresidential secured by owner-occupied properties | $75,215 |
| Commercial real estate & other non-farm, non-residential | $42,305 |
| Multifamily residential real estate | $11,286 |
| 1-4 family residential loans | $35,869 |
| Farmland loans | $2,805 |
| Loans held in foreign offices | $0 |
| Farm loans | $389 |
| Commercial and industrial loans | $41,553 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $17,135 |
| Credit card loans | $0 |
| Related Plans | $477 |
| Consumer Auto Loans | $4,316 |
| Other loans to individuals | $12,342 |
| All other loans & leases | $1,138 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $1,138 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $1,496 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $317 |
| Non 1-4 family restructured loans & leases | $221 |
| Total loans and leases (foreign) | $0 |
First Montana Bank had $248,380,000 of loans outstanding in 2019. $190,731,000 of loans were in real estate loans. $23,251,000 of loans were in development loans. $11,286,000 of loans were in multifamily mortgage loans. $35,869,000 of loans were in 1-4 family mortgage loans. $389,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,316,000 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 | 275 | $71,546 | $260,167 |
| Nonfarm, nonresidential loans - <$100k | 40 | $2,377 | $59,425 |
| Nonfarm, nonresidential loans - $100-250k | 107 | $14,745 | $137,804 |
| Nonfarm, nonresidential loans - $250k-1MM | 128 | $54,424 | $425,188 |
| Commercial & Industrial, US addressed loans - <$1MM | 537 | $34,661 | $64,546 |
| Commercial & Industrial, US addressed loans - <$100k | 413 | $10,556 | $25,559 |
| Commercial & Industrial, US addressed loans - $100-250k | 80 | $7,984 | $99,800 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 44 | $16,121 | $366,386 |
| Farmland loans - <$1MM | 12 | $1,231 | $102,583 |
| Farmland loans - <$100k | 6 | $359 | $59,833 |
| Farmland loans - $100-250k | 4 | $373 | $93,250 |
| Farmland loans - $250k-1MM | 2 | $499 | $249,500 |
| Agriculture operations loans - <$1MM | 5 | $389 | $77,800 |
| Agriculture operations loans - <$100k | 2 | $49 | $24,500 |
| Agriculture operations loans - $100-250k | 3 | $340 | $113,333 |