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: Helena, Bozeman, Butte, Kalispell, and Missoula 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
63Origination Dollar Volume (All Markets)
$13,415,000Employee count
83Top 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 | 26 | $4,340,000 | $166,923 | $0 | 0.00% |
| Helena, MT (FHA|USDA|VA) | 11 | $3,605,000 | $327,727 | $0 | 0.00% |
| Bozeman, MT (FHA|USDA|VA) | 10 | $2,790,000 | $279,000 | $0 | 0.00% |
| Butte-Silver Bow, MT (FHA|USDA|VA) | 8 | $1,120,000 | $140,000 | $0 | 0.00% |
| Kalispell, MT (FHA|USDA|VA) | 4 | $990,000 | $247,500 | $0 | 0.00% |
| MISSOULA, MT (FHA|USDA|VA) | 4 | $570,000 | $142,500 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 62 | $13,220,000 | $213,226 | $0 | 0.00% |
| FHA | 1 | $195,000 | $195,000 | $0 | 0.00% |
For 2020, First Montana Bank's most frequently originated type of loan was Conventional, with 62 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 | 33 | $7,325,000 | $221,970 | $0 | 0.00% |
| Refi | 24 | $5,680,000 | $236,667 | $0 | 0.00% |
| Other | 6 | $410,000 | $68,333 | $0 | 0.00% |
For 2020, First Montana Bank's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Refi, with 24 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 63 | $13,415,000 | $212,937 | $0 | 0.00% |
For 2020, First Montana Bank's most frequently cited loan duration was Other, with 63 originations.
Loan Sizing
2020 saw First Montana Bank place emphasis on $200k-400k loans with 23 originations, totaling $5,695,000 in origination value.
Applicant Income
First Montana Bank lent most frequently to those with incomes in the $100k-150k range, with 10 originations. The second most popular income band? $50k or less, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 63 | $13,415,000 | $212,937 | $0 | 0.00% |
First Montana Bank lent most frequently to those with DTI ratios of Exempt%, with 63 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 49 | $8,945,000 | $182,551 | $0 | 0.00% |
| Not applicable | 14 | $4,470,000 | $319,286 | $0 | 0.00% |
Approval Rates
Total approvals of all applications90.00%
First Montana Bank has an average approval rate.
Pick Rate
Approvals leading to origination44.44%
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 | 63 | $13,415,000 | $212,937 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Closing on a mortgage | 2 | 13.3% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First Montana Bank, Inc. | 1121 Eastpark Anaconda, MT 59711 | Full Service B&M | $3,483 |
| First Montana Bank, Inc. | 1135 Euclid Avenue Helena, MT 59601 | Full Service B&M | $3,973 |
| First Montana Bank, Inc. | 123 Main Street Anaconda, MT 59711 | Full Service B&M | $46,066 |
| First Montana Bank, Inc. | 1336 Stoneridge Drive Bozeman, MT 59718 | Full Service B&M | $17,096 |
| First Montana Bank, Inc. | 1940 Dewey Boulevard Butte, MT 59701 | Full Service B&M | $74,515 |
| First Montana Bank, Inc. | 201 North Higgins Avenue Missoula, MT 59802 | Full Service B&M | $33,907 |
| First Montana Bank, Inc. | 3309 Brooks St Missoula, MT 59801 | Full Service B&M | $13,396 |
| First Montana Bank, Inc. | 504 Mineral Avenue Libby, MT 59923 | Full Service B&M | $60,117 |
| First Montana Bank, Inc. | 600 East Missoula Avenue Troy, MT 59935 | Full Service B&M | $21,788 |
| First Montana Bank, Inc. | 85 North Main Street Kalispell, MT 59901 | Full Service B&M | $28,227 |
For 2020, First Montana Bank had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $14,648 |
| Net interest income | $13,915 |
| Total noninterest income | $2,648 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $703 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,945 |
| Pre-tax net operating income | $4,580 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,589 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,589 |
| Minority interest net income | $0 |
| Net income | $3,589 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,589 |
First Montana Bank's gross interest income from loans was $14,648,000.
First Montana Bank's net interest income from loans was $13,915,000.
First Montana Bank's fee based income from loans was $703,000.
First Montana Bank's net income from loans was $3,589,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $733 |
| Provision for credit losses | $379 |
| Total noninterest expense | $11,604 |
| Salaries and employee benefits | $6,638 |
| Premises and equipment expense | $1,430 |
| Additional noninterest expense | $3,536 |
| Applicable income taxes | $991 |
| Net charge-offs | $272 |
| Cash dividends | $1,877 |
First Montana Bank's interest expense for loans was $733,000.
First Montana Bank's payroll and benefits expense were $6,638,000.
First Montana Bank's property, plant and equipment expenses $1,430,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 2.0% |
| Construction & Land Development loans | 3.0% |
| Nonfarm, nonresidential loans | 2.0% |
| 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 | 1.0% |
| Credit card loans | 0.0% |
| Other individual loans | 1.0% |
| Auto loans | 0.0% |
| Other consumer loans | 2.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $344,078 |
| Deposits held in domestic offices | $344,078 |
| Deposits by Individuals, partnerships, and corporations | $334,726 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $9,252 |
| 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 | $36,926 |
| Demand deposits | $25,489 |
| Nontransaction accounts | $307,152 |
| Money market deposit accounts (MMDAs) | $54,986 |
| Other savings deposits (excluding MMDAs) | $219,611 |
| Total time deposits | $32,555 |
| Total time and savings deposits | $318,589 |
| Noninterest-bearing deposits | $118,633 |
| Interest-bearing deposits | $225,445 |
| Retail deposits | $340,829 |
| IRAs and Keogh plan accounts | $9,539 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $397,729 |
| Cash & Balances due from depository institutions | $22,059 |
| Interest-bearing balances | $16,330 |
| Total securities | $89,264 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $261,042 |
| Loan and leases loss allowance | $2,673 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $11,424 |
| Other real estate owned | $420 |
| Goodwill and other intangibles | $1,090 |
| All other assets | $12,430 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $397,729 |
| Total Liabilities | $360,893 |
| Total deposits | $344,078 |
| Interest-bearing deposits | $225,445 |
| Deposits held in domestic offices | $344,078 |
| % insured (estimated) | $79 |
| Federal funds purchased and repurchase agreements | $11,294 |
| Trading liabilities | $0 |
| Other borrowed funds | $1,726 |
| Subordinated debt | $0 |
| All other liabilities | $3,795 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $261,042 |
| Loan and leases loss allowance | $2,673 |
| Total loans and leases (domestic) | $263,715 |
| All real estate loans | $195,586 |
| Real estate loans in domestic offices | $195,586 |
| Construction and development loans | $23,349 |
| Residential 1-4 family construction | $7,958 |
| Other construction, all land development and other land | $15,391 |
| Loans secured by nonfarm nonresidential properties | $117,050 |
| Nonfarm nonresidential secured by owner-occupied properties | $72,310 |
| Commercial real estate & other non-farm, non-residential | $44,740 |
| Multifamily residential real estate | $9,036 |
| 1-4 family residential loans | $41,176 |
| Farmland loans | $4,975 |
| Loans held in foreign offices | $0 |
| Farm loans | $556 |
| Commercial and industrial loans | $52,641 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $14,061 |
| Credit card loans | $0 |
| Related Plans | $293 |
| Consumer Auto Loans | $3,782 |
| Other loans to individuals | $9,986 |
| All other loans & leases | $871 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $871 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $814 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $208 |
| Non 1-4 family restructured loans & leases | $118 |
| Total loans and leases (foreign) | $0 |
First Montana Bank had $261,042,000 of loans outstanding in 2020. $195,586,000 of loans were in real estate loans. $23,349,000 of loans were in development loans. $9,036,000 of loans were in multifamily mortgage loans. $41,176,000 of loans were in 1-4 family mortgage loans. $556,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,782,000 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 | 274 | $67,232 | $245,372 |
| Nonfarm, nonresidential loans - <$100k | 46 | $2,327 | $50,587 |
| Nonfarm, nonresidential loans - $100-250k | 95 | $13,457 | $141,653 |
| Nonfarm, nonresidential loans - $250k-1MM | 133 | $51,448 | $386,827 |
| Commercial & Industrial, US addressed loans - <$1MM | 792 | $42,190 | $53,270 |
| Commercial & Industrial, US addressed loans - <$100k | 632 | $14,620 | $23,133 |
| Commercial & Industrial, US addressed loans - $100-250k | 110 | $10,891 | $99,009 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 50 | $16,679 | $333,580 |
| Farmland loans - <$1MM | 11 | $1,334 | $121,273 |
| Farmland loans - <$100k | 6 | $345 | $57,500 |
| Farmland loans - $100-250k | 3 | $403 | $134,333 |
| Farmland loans - $250k-1MM | 2 | $586 | $293,000 |
| Agriculture operations loans - <$1MM | 4 | $555 | $138,750 |
| Agriculture operations loans - <$100k | 2 | $39 | $19,500 |
| Agriculture operations loans - $100-250k | 1 | $88 | $88,000 |
| Agriculture operations loans - $250k-1MM | 1 | $428 | $428,000 |