First Arkansas Bank And Trust Mortgage Rates, Fees & Info

Jacksonville, AR

LEI: 5493007BBMW58UQT5588

Tax ID: 71-0231333

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    First Arkansas Bank And Trust is a smaller bank specializing in Home Purchase and Refi loans. First Arkansas Bank And Trust 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Little Rock, Searcy, Fayetteville, Hot Springs, and Malvern among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Arkansas Bank And Trust 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. First Arkansas Bank And Trust is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    383

    Origination Dollar Volume (All Markets)

    $68,005,000

    Employee count

    272 Show all (13) awards

    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
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 317 $56,825,000 $179,259 $2,519 3.35%
    Outside of Metro Areas 37 $6,155,000 $166,351 $2,188 3.17%
    Searcy, AR (FHA|USDA|VA) 21 $3,775,000 $179,762 $3,372 3.24%
    FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $450,000 $225,000 $2,011 2.56%
    HOT SPRINGS, AR (FHA|USDA|VA) 2 $250,000 $125,000 $2,027 2.69%
    Malvern, AR (FHA|USDA|VA) 1 $225,000 $225,000 $2,450 2.75%
    JONESBORO, AR (FHA|USDA|VA) 2 $220,000 $110,000 $2,325 3.31%
    FORT SMITH, AR-OK (FHA|USDA|VA) 1 $105,000 $105,000 $4,273 3.50%
    First Arkansas Bank And Trust's top markets include Little Rock, Searcy, Fayetteville, Hot Springs, and Malvern among others.

    Their top states include:
  • Arkansas (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against First Arkansas Bank and Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    First Arkansas Bank and Trust
    Similarity Rank: 528
    TELCOE FEDERAL CREDIT UNION
    Similarity Rank: 1166
    Farmers Bank & Trust Company
    Similarity Rank: 1395
    Farm Credit Services of Western Arkansas, ACA
    Similarity Rank: 2040
    First Security Bank
    Similarity Rank: 2574
    ARKANSAS Federal Credit Union
    Similarity Rank: 2691
    First Community Bank
    Similarity Rank: 2738
    First Financial Bank
    Similarity Rank: 3627
    PILGRIM MORTGAGE LLC
    Similarity Rank: 6696
    Bank OZK
    Similarity Rank: 7047

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 309 $54,205,000 $175,421 $2,093 3.42%
    VA 41 $8,755,000 $213,537 $3,913 2.89%
    FHA 22 $3,330,000 $151,364 $4,276 2.82%
    USDA 11 $1,715,000 $155,909 $2,860 2.98%

    For 2020, First Arkansas Bank And Trust's most frequently originated type of loan was Conventional, with 309 originations. Their 2nd most popular type was VA, with 41 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 219 $35,995,000 $164,361 $2,596 3.48%
    Refi 139 $28,115,000 $202,266 $2,375 3.05%
    Cash Out Refi 16 $2,570,000 $160,625 $3,319 3.51%
    Home Improvement 8 $1,090,000 $136,250 $2,538 3.13%
    Other 1 $235,000 $235,000 $0 4.00%

    For 2020, First Arkansas Bank And Trust's most frequently cited loan purpose was Home Purchase, with 219 originations. The 2nd most popular reason was Refi, with 139 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 236 $45,770,000 $193,941 $2,651 3.00%
    15 Year 46 $7,740,000 $168,261 $2,216 2.53%
    5 Year 46 $7,030,000 $152,826 $0 4.48%
    3 Year 26 $2,960,000 $113,846 $0 4.82%
    Other 18 $3,370,000 $187,222 $2,607 4.56%
    10 Year 6 $30,000 $5,000 $238 2.81%
    20 Year 4 $980,000 $245,000 $2,578 2.78%
    1 Year 1 $125,000 $125,000 $0 4.30%

    For 2020, First Arkansas Bank And Trust's most frequently cited loan duration was 30 Year, with 236 originations. The 2nd most popular length was 15 Year, with 46 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 269 $48,725,000 $181,134
    $1k-2k 20 $4,370,000 $218,500
    $2k-3k 9 $1,665,000 $185,000
    $5k+ 1 $385,000 $385,000

    First Arkansas Bank And Trust's average total fees were $2,651, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 269 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 138 $26,720,000 $193,623
    3-4% 105 $18,455,000 $175,762
    4-5% 65 $9,305,000 $143,154
    <2.5% 59 $10,885,000 $184,492
    5-6% 15 $2,335,000 $155,667
    6-7% 1 $305,000 $305,000

    During 2020, First Arkansas Bank And Trust's average interest rate for loans was 3.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 138 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 170 $24,550,000 $144,412 $2,379 3.17%
    $200k-400k 105 $28,415,000 $270,619 $3,044 3.13%
    $100,000 or less 90 $6,060,000 $67,333 $1,819 3.81%
    $400k-600k 17 $7,825,000 $460,294 $3,506 3.28%
    $1MM+ 1 $1,155,000 $1,155,000 $0 4.50%

    2020 saw First Arkansas Bank And Trust place emphasis on $100k-200k loans with 170 originations, totaling $24,550,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 75 $10,775,000 $143,667 $2,552 3.08%
    $100k-150k 70 $14,040,000 $200,571 $2,583 3.16%
    $50k or less 61 $6,845,000 $112,213 $2,334 3.00%
    $75k-100k 56 $10,340,000 $184,643 $2,491 3.16%
    $150k-250k 29 $8,215,000 $283,276 $3,069 3.03%
    $250k+ 11 $3,435,000 $312,273 $2,507 3.14%

    First Arkansas Bank And Trust lent most frequently to those with incomes in the $50k-75k range, with 75 originations. The second most popular income band? $100k-150k, with 70 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 94 $15,290,000 $162,660 $2,223 3.00%
    30-36% 60 $12,350,000 $205,833 $2,168 2.95%
    <20% 42 $7,200,000 $171,429 $2,206 2.95%
    38% 12 $1,720,000 $143,333 $3,164 2.92%
    43% 11 $2,015,000 $183,182 $3,927 3.04%
    40% 11 $2,015,000 $183,182 $3,316 2.82%
    39% 10 $2,270,000 $227,000 $2,395 3.22%
    37% 9 $1,585,000 $176,111 $2,311 3.50%
    36% 8 $1,630,000 $203,750 $3,871 3.22%
    44% 7 $1,065,000 $152,143 $3,343 3.16%
    41% 7 $1,485,000 $212,143 $3,231 2.95%
    42% 5 $695,000 $139,000 $1,929 3.19%
    45% 4 $910,000 $227,500 $1,871 3.59%
    46% 4 $850,000 $212,500 $1,491 3.16%
    47% 4 $1,310,000 $327,500 $5,282 2.84%
    48% 4 $710,000 $177,500 $1,597 3.42%
    49% 4 $620,000 $155,000 $4,446 3.09%
    50-60% 3 $505,000 $168,333 $5,598 3.21%
    >60% 1 $125,000 $125,000 $1,701 3.25%

    First Arkansas Bank And Trust lent most frequently to those with DTI ratios of 20-30%, with 94 originations. The next most common DTI ratio? 30-36%, with 60 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 281 $49,185,000 $175,036 $2,563 3.10%
    Not applicable 60 $10,740,000 $179,000 $0 4.60%
    Black 19 $3,665,000 $192,895 $2,737 2.94%
    Asian 16 $3,530,000 $220,625 $1,998 2.92%
    Not provided 5 $605,000 $121,000 $1,761 2.78%
    American Indian 2 $280,000 $140,000 $2,479 3.13%

    Approval Rates

    Total approvals of all applications
    92.99%

    First Arkansas Bank And Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.16%

    First Arkansas Bank And Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 383 $68,005,000 $177,559

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $125,000 $125,000
    Multifamily:Site-Built 6 $3,200,000 $533,333
    Single Family (1-4 Units):Manufactured 4 $220,000 $55,000
    Single Family (1-4 Units):Site-Built 372 $64,460,000 $173,280

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 5 $455,000 $91,000 $2,269 3.10%
    40-60% 41 $7,555,000 $184,268 $2,135 3.14%
    60-80% 137 $24,235,000 $176,898 $2,161 3.39%
    80-100% 180 $32,980,000 $183,222 $2,838 3.34%
    Over 100% 7 $1,495,000 $213,571 $8,956 3.48%
    Under 20% 6 $30,000 $5,000 $238 2.81%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Other type of mortgage Closing on a mortgage 2 13.3%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 4 26.7%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 2 13.3%
    FIRST HORIZON BANK Other type of mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 3 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Arkansas Bank and Trust 10 South Broadway Damascus, AR 72039 Full Service B&M $9,042
    First Arkansas Bank and Trust 105 South Rockwood Cabot, AR 72023 Full Service B&M $25,879
    First Arkansas Bank and Trust 11 North Broadview Greenbrier, AR 72058 Full Service B&M $16,250
    First Arkansas Bank and Trust 121 Bill Foster Memorial Highway Cabot, AR 72023 Full Service Retail $16,505
    First Arkansas Bank and Trust 1230 Highway 25b North Heber Springs, AR 72543 Full Service B&M $26,224
    First Arkansas Bank and Trust 14917 Hwy 107 Gravel Ridge, AR 72076 Full Service B&M $16,908
    First Arkansas Bank and Trust 1500-A Highway 25 By-Pass Heber Springs, AR 72543 Full Service B&M $5,414
    First Arkansas Bank and Trust 1685 East Main Austin, AR 72007 Full Service B&M $11,393
    First Arkansas Bank and Trust 185 Bone Street Clinton, AR 72031 Full Service B&M $10,374
    First Arkansas Bank and Trust 2030 John Harden Drive Jacksonville, AR 72076 Full Service Retail $6,598
    First Arkansas Bank and Trust 2200 Wildwood Avenue Sherwood, AR 72120 Full Service B&M $16,450
    First Arkansas Bank and Trust 2519 W Main St Jacksonville, AR 72076 Full Service B&M $13,475
    First Arkansas Bank and Trust 3166 Highway 367 South Cabot, AR 72023 Full Service B&M $13,224
    First Arkansas Bank and Trust 3607 Kiehl Avenue Sherwood, AR 72120 Full Service B&M $6,629
    First Arkansas Bank and Trust 367 Hwy 25 N #1 Greenbrier, AR 72058 Full Service B&M $7,858
    First Arkansas Bank and Trust 501 J.P. Wright Loop Road Jacksonville, AR 72076 Full Service B&M $13,814
    First Arkansas Bank and Trust 5825 Heber Springs Road West Quitman, AR 72131 Full Service B&M $11,569
    First Arkansas Bank and Trust 600 West Main Street Jacksonville, AR 72076 Full Service Cyber Office $11,119
    First Arkansas Bank and Trust 600 West Main Street Jacksonville, AR 72076 Full Service B&M $289,762
    First Arkansas Bank and Trust 804 Hogan Lane Conway, AR 72034 Full Service B&M $2,753
    First Arkansas Bank and Trust 806 W Main St Heber Springs, AR 72543 Full Service B&M $55,464
    First Arkansas Bank and Trust Building 795, Arnold Drive Jacksonville, AR 72076 Full Service B&M $17,416
    First Arkansas Bank and Trust Greers Ferry Rd, 7654 Greers Ferry Rd Greers Ferry, AR 72067 Full Service B&M $23,463

    For 2020, First Arkansas Bank And Trust had 23 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $33,516
    Net interest income $29,963
    Total noninterest income $31,072
    Gross Fiduciary activities income $1,092
    Service charges on deposit accounts $1,735
    Trading account gains and fees $0
    Additional Noninterest Income $28,245
    Pre-tax net operating income $14,081
    Securities gains (or losses, -) $306
    Income before extraordinary items $14,387
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,387
    Minority interest net income $0
    Net income $14,387
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $14,081

    First Arkansas Bank And Trust's gross interest income from loans was $33,516,000.
    First Arkansas Bank And Trust's net interest income from loans was $29,963,000.
    First Arkansas Bank And Trust's fee based income from loans was $1,735,000.
    First Arkansas Bank And Trust's net income from loans was $14,387,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,553
    Provision for credit losses $3,491
    Total noninterest expense $43,463
    Salaries and employee benefits $20,379
    Premises and equipment expense $4,330
    Additional noninterest expense $18,754
    Applicable income taxes $0
    Net charge-offs $1,584
    Cash dividends $13,938

    First Arkansas Bank And Trust's interest expense for loans was $3,553,000.
    First Arkansas Bank And Trust's payroll and benefits expense were $20,379,000.
    First Arkansas Bank And Trust's property, plant and equipment expenses $4,330,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 4.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 7.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.7%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 18.0%

    Deposits

    Type Value (in 000's)
    Total deposits $668,008
    Deposits held in domestic offices $668,008
    Deposits by Individuals, partnerships, and corporations $595,555
    Deposits by U.S. Government $59
    Deposits by States and political subdivisions in the U.S. $71,897
    Deposits by Commercial banks and other depository institutions in U.S. $497
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $98,174
    Demand deposits $45,984
    Nontransaction accounts $569,834
    Money market deposit accounts (MMDAs) $42,926
    Other savings deposits (excluding MMDAs) $443,888
    Total time deposits $83,020
    Total time and savings deposits $622,024
    Noninterest-bearing deposits $163,606
    Interest-bearing deposits $504,402
    Retail deposits $655,681
    IRAs and Keogh plan accounts $18,460
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $882,983
    Cash & Balances due from depository institutions $60,445
    Interest-bearing balances $47,105
    Total securities $174,387
    Federal funds sold & reverse repurchase $0
    Net loans and leases $566,205
    Loan and leases loss allowance $12,068
    Trading account assets $0
    Bank premises and fixed assets $23,445
    Other real estate owned $269
    Goodwill and other intangibles $28,456
    All other assets $29,776

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $882,983
    Total Liabilities $740,775
    Total deposits $668,008
    Interest-bearing deposits $504,402
    Deposits held in domestic offices $668,008
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $3,000
    Trading liabilities $0
    Other borrowed funds $60,551
    Subordinated debt $0
    All other liabilities $9,216

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $566,205
    Loan and leases loss allowance $12,068
    Total loans and leases (domestic) $578,273
    All real estate loans $312,039
    Real estate loans in domestic offices $312,039
    Construction and development loans $64,750
    Residential 1-4 family construction $23,396
    Other construction, all land development and other land $41,354
    Loans secured by nonfarm nonresidential properties $139,363
    Nonfarm nonresidential secured by owner-occupied properties $67,627
    Commercial real estate & other non-farm, non-residential $71,736
    Multifamily residential real estate $1,642
    1-4 family residential loans $102,845
    Farmland loans $3,439
    Loans held in foreign offices $0
    Farm loans $1,865
    Commercial and industrial loans $170,247
    To non-U.S. addressees $0
    Loans to individuals $92,302
    Credit card loans $45,414
    Related Plans $5
    Consumer Auto Loans $901
    Other loans to individuals $45,982
    All other loans & leases $1,820
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $543
    Loans not secured by real estate $2,789
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $858
    Non 1-4 family restructured loans & leases $646
    Total loans and leases (foreign) $0

    First Arkansas Bank and Trust had $566,205,000 of loans outstanding in 2020. $312,039,000 of loans were in real estate loans. $64,750,000 of loans were in development loans. $1,642,000 of loans were in multifamily mortgage loans. $102,845,000 of loans were in 1-4 family mortgage loans. $1,865,000 of loans were in farm loans. $45,414,000 of loans were in credit card loans. $901,000 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 251 $48,664 $193,880
    Nonfarm, nonresidential loans - <$100k 86 $3,313 $38,523
    Nonfarm, nonresidential loans - $100-250k 85 $11,027 $129,729
    Nonfarm, nonresidential loans - $250k-1MM 80 $34,324 $429,050
    Commercial & Industrial, US addressed loans - <$1MM 874 $61,389 $70,239
    Commercial & Industrial, US addressed loans - <$100k 618 $16,313 $26,396
    Commercial & Industrial, US addressed loans - $100-250k 187 $24,093 $128,840
    Commercial & Industrial, US addressed loans - $250k-1MM 69 $20,983 $304,101
    Farmland loans - <$1MM 28 $2,774 $99,071
    Farmland loans - <$100k 15 $557 $37,133
    Farmland loans - $100-250k 10 $1,341 $134,100
    Farmland loans - $250k-1MM 3 $876 $292,000
    Agriculture operations loans - <$1MM 40 $615 $15,375
    Agriculture operations loans - <$100k 40 $615 $15,375