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 loans. First Arkansas Bank And Trust has a high proportion of conventional loans. Their top markets by origination volume include: Little Rock, Hot Springs, Searcy, Russellville, and Arkadelphia among others. We have data for 6 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 an above 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

    106

    Origination Dollar Volume (All Markets)

    $19,000,000

    Employee count

    251

    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) 94 $16,550,000 $176,064 $3,003 4.24%
    HOT SPRINGS, AR (FHA|USDA|VA) 2 $1,030,000 $515,000 $0 3.75%
    Outside of Metro Areas 6 $720,000 $120,000 $2,231 4.27%
    Searcy, AR (FHA|USDA|VA) 2 $460,000 $230,000 $0 3.95%
    Russellville, AR (FHA|USDA|VA) 1 $225,000 $225,000 $2,616 4.45%
    Arkadelphia, AR (FHA|USDA|VA) 1 $15,000 $15,000 $0 4.45%
    First Arkansas Bank And Trust's top markets include Little Rock, Hot Springs, Searcy, Russellville, and Arkadelphia 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.

    Farmers Bank & Trust Company
    Similarity Rank: 304
    First Financial Bank
    Similarity Rank: 782
    TELCOE FEDERAL CREDIT UNION
    Similarity Rank: 1392
    First Security Bank
    Similarity Rank: 2562
    ARKANSAS Federal Credit Union
    Similarity Rank: 2952
    Chambers Bank
    Similarity Rank: 3660
    Southern Bank
    Similarity Rank: 6162
    ENCORE BANK
    Similarity Rank: 6230
    ACCELERATE MORTGAGE, LLC
    Similarity Rank: 6859
    HOMEBRIDGE FINANCIAL SERVICES, INC.
    Similarity Rank: 7210

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 106 $19,000,000 $179,245 $2,789 4.23%

    For 2021, First Arkansas Bank And Trust's most frequently originated type of loan was Conventional, with 106 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 88 $14,920,000 $169,545 $2,880 4.24%
    Refi 9 $2,075,000 $230,556 $2,403 4.20%
    Cash Out Refi 6 $1,660,000 $276,667 $2,616 4.15%
    Home Improvement 3 $345,000 $115,000 $3,275 4.21%

    For 2021, First Arkansas Bank And Trust's most frequently cited loan purpose was Home Purchase, with 88 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 63 $11,685,000 $185,476 $0 4.20%
    3 Year 24 $3,600,000 $150,000 $0 4.46%
    Other 15 $2,685,000 $179,000 $2,740 4.20%
    1 Year 2 $180,000 $90,000 $0 4.45%
    20 Year 1 $305,000 $305,000 $2,579 2.63%
    30 Year 1 $545,000 $545,000 $3,340 2.63%

    For 2021, First Arkansas Bank And Trust's most frequently cited loan duration was 5 Year, with 63 originations. The 2nd most popular length was 3 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 7 $1,395,000 $199,286
    $1k-2k 2 $330,000 $165,000

    First Arkansas Bank And Trust's average total fees were $3,340, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 7 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 70 $11,400,000 $162,857
    3-4% 30 $6,310,000 $210,333
    5-6% 4 $440,000 $110,000
    2.5-3% 2 $850,000 $425,000

    During 2021, First Arkansas Bank And Trust's average interest rate for loans was 2.63%, while their most frequently originated rate bucket for loans was 4-5%, with 70 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 51 $7,395,000 $145,000 $2,850 4.22%
    $200k-400k 25 $6,945,000 $277,800 $2,598 4.15%
    $100,000 or less 24 $1,660,000 $69,167 $2,582 4.43%
    $400k-600k 5 $2,345,000 $469,000 $3,340 3.96%
    $600k-1MM 1 $655,000 $655,000 $0 3.50%

    2021 saw First Arkansas Bank And Trust place emphasis on $100k-200k loans with 51 originations, totaling $7,395,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 8 $1,230,000 $153,750 $2,408 4.16%
    $75k-100k 7 $1,735,000 $247,857 $2,961 4.02%
    $50k-75k 6 $700,000 $116,667 $3,325 4.28%
    $250k+ 4 $1,090,000 $272,500 $0 3.80%
    $150k-250k 3 $355,000 $118,333 $3,275 4.11%
    $50k or less 1 $45,000 $45,000 $1,838 4.14%

    First Arkansas Bank And Trust lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $75k-100k, with 7 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 6 $1,380,000 $230,000 $2,037 4.04%
    <20% 4 $540,000 $135,000 $3,421 3.99%
    42% 2 $160,000 $80,000 $0 4.25%
    30-36% 2 $350,000 $175,000 $2,616 4.20%
    36% 2 $170,000 $85,000 $0 4.38%
    49% 1 $305,000 $305,000 $2,579 2.63%
    37% 1 $205,000 $205,000 $0 4.14%
    44% 1 $545,000 $545,000 $3,340 2.63%

    First Arkansas Bank And Trust lent most frequently to those with DTI ratios of 20-30%, with 6 originations. The next most common DTI ratio? <20%, with 4 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 76 $13,590,000 $178,816 $0 4.29%
    White 28 $5,010,000 $178,929 $2,815 4.13%
    Asian 2 $400,000 $200,000 $2,579 3.56%

    Approval Rates

    Total approvals of all applications
    98.20%

    First Arkansas Bank And Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    97.17%

    First Arkansas Bank And Trust has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 106 $19,000,000 $179,245

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    106 $19,000,000 $179,245

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $65,000 $65,000 $3,325 4.09%
    40-60% 9 $1,295,000 $143,889 $2,755 4.48%
    60-80% 33 $6,725,000 $203,788 $2,845 4.20%
    80-100% 61 $10,775,000 $176,639 $2,575 4.21%
    Over 100% 2 $140,000 $70,000 $0 4.45%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST UNITED BANK AND TRUST COMPANY Conventional home mortgage Closing on a mortgage 1 100.0%

    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 $10,136
    First Arkansas Bank and Trust 105 South Rockwood Cabot, AR 72023 Full Service B&M $30,450
    First Arkansas Bank and Trust 11 North Broadview Greenbrier, AR 72058 Full Service B&M $22,208
    First Arkansas Bank and Trust 121 Bill Foster Memorial Highway Cabot, AR 72023 Full Service Retail $21,459
    First Arkansas Bank and Trust 1230 Highway 25b North Heber Springs, AR 72543 Full Service B&M $66,013
    First Arkansas Bank and Trust 14917 Hwy 107 Gravel Ridge, AR 72076 Full Service B&M $19,096
    First Arkansas Bank and Trust 1500-A Highway 25 By-Pass Heber Springs, AR 72543 Full Service B&M $28,987
    First Arkansas Bank and Trust 1685 East Main Austin, AR 72007 Full Service B&M $15,267
    First Arkansas Bank and Trust 185 Bone Street Clinton, AR 72031 Full Service B&M $14,158
    First Arkansas Bank and Trust 2030 John Harden Drive Jacksonville, AR 72076 Full Service Retail $8,006
    First Arkansas Bank and Trust 2200 Wildwood Avenue Sherwood, AR 72120 Full Service B&M $19,247
    First Arkansas Bank and Trust 2519 W Main St Jacksonville, AR 72076 Limited, Drive-thru $14,458
    First Arkansas Bank and Trust 3166 Highway 367 South Cabot, AR 72023 Limited, Drive-thru $14,649
    First Arkansas Bank and Trust 3607 Kiehl Avenue Sherwood, AR 72120 Full Service B&M $8,355
    First Arkansas Bank and Trust 367 Hwy 25 N #1 Greenbrier, AR 72058 Full Service B&M $8,864
    First Arkansas Bank and Trust 501 J.P. Wright Loop Road Jacksonville, AR 72076 Full Service B&M $14,989
    First Arkansas Bank and Trust 5825 Heber Springs Road West Quitman, AR 72131 Full Service B&M $19,298
    First Arkansas Bank and Trust 600 West Main Street Jacksonville, AR 72076 Full Service Cyber Office $14,707
    First Arkansas Bank and Trust 600 West Main Street Jacksonville, AR 72076 Full Service B&M $350,313
    First Arkansas Bank and Trust 804 Hogan Lane Conway, AR 72034 Full Service B&M $4,304
    First Arkansas Bank and Trust Building 795, Arnold Drive Jacksonville, AR 72076 Full Service B&M $20,351
    First Arkansas Bank and Trust Greers Ferry Rd, 7654 Greers Ferry Rd Greers Ferry, AR 72067 Full Service B&M $29,568

    For 2021, First Arkansas Bank And Trust had 22 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $34,993
    Net interest income $31,033
    Total noninterest income $36,630
    Gross Fiduciary activities income $1,220
    Service charges on deposit accounts $2,249
    Trading account gains and fees $0
    Additional Noninterest Income $33,161
    Pre-tax net operating income $20,384
    Securities gains (or losses, -) $410
    Income before extraordinary items $20,794
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $20,794
    Minority interest net income $0
    Net income $20,794
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $20,384

    First Arkansas Bank And Trust's gross interest income from loans was $34,993,000.
    First Arkansas Bank And Trust's net interest income from loans was $31,033,000.
    First Arkansas Bank And Trust's fee based income from loans was $2,249,000.
    First Arkansas Bank And Trust's net income from loans was $20,794,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,960
    Provision for credit losses $1,551
    Total noninterest expense $45,728
    Salaries and employee benefits $20,224
    Premises and equipment expense $4,535
    Additional noninterest expense $20,969
    Applicable income taxes $0
    Net charge-offs $1,995
    Cash dividends $36,950

    First Arkansas Bank And Trust's interest expense for loans was $3,960,000.
    First Arkansas Bank And Trust's payroll and benefits expense were $20,224,000.
    First Arkansas Bank And Trust's property, plant and equipment expenses $4,535,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 2.0%
    Nonfarm, nonresidential loans 1.0%
    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 0.8%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 7.0%

    Deposits

    Type Value (in 000's)
    Total deposits $803,670
    Deposits held in domestic offices $803,670
    Deposits by Individuals, partnerships, and corporations $723,309
    Deposits by U.S. Government $76
    Deposits by States and political subdivisions in the U.S. $79,540
    Deposits by Commercial banks and other depository institutions in U.S. $745
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $121,962
    Demand deposits $55,965
    Nontransaction accounts $681,708
    Money market deposit accounts (MMDAs) $111,529
    Other savings deposits (excluding MMDAs) $489,973
    Total time deposits $80,206
    Total time and savings deposits $747,705
    Noninterest-bearing deposits $184,281
    Interest-bearing deposits $619,389
    Retail deposits $788,012
    IRAs and Keogh plan accounts $6,649
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $969,700
    Cash & Balances due from depository institutions $36,151
    Interest-bearing balances $22,760
    Total securities $267,614
    Federal funds sold & reverse repurchase $0
    Net loans and leases $568,534
    Loan and leases loss allowance $11,624
    Trading account assets $0
    Bank premises and fixed assets $21,778
    Other real estate owned $0
    Goodwill and other intangibles $28,456
    All other assets $47,167

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $969,700
    Total Liabilities $847,291
    Total deposits $803,670
    Interest-bearing deposits $619,389
    Deposits held in domestic offices $803,670
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $3,000
    Trading liabilities $0
    Other borrowed funds $30,035
    Subordinated debt $0
    All other liabilities $10,586

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $568,534
    Loan and leases loss allowance $11,624
    Total loans and leases (domestic) $580,158
    All real estate loans $321,522
    Real estate loans in domestic offices $321,522
    Construction and development loans $71,297
    Residential 1-4 family construction $37,803
    Other construction, all land development and other land $33,494
    Loans secured by nonfarm nonresidential properties $148,550
    Nonfarm nonresidential secured by owner-occupied properties $70,191
    Commercial real estate & other non-farm, non-residential $78,359
    Multifamily residential real estate $1,579
    1-4 family residential loans $96,520
    Farmland loans $3,576
    Loans held in foreign offices $0
    Farm loans $1,799
    Commercial and industrial loans $167,387
    To non-U.S. addressees $0
    Loans to individuals $88,593
    Credit card loans $48,898
    Related Plans $6
    Consumer Auto Loans $763
    Other loans to individuals $38,926
    All other loans & leases $857
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $518
    Loans not secured by real estate $4,417
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,181
    Non 1-4 family restructured loans & leases $926
    Total loans and leases (foreign) $0

    First Arkansas Bank and Trust had $568,534,000 of loans outstanding in 2021. $321,522,000 of loans were in real estate loans. $71,297,000 of loans were in development loans. $1,579,000 of loans were in multifamily mortgage loans. $96,520,000 of loans were in 1-4 family mortgage loans. $1,799,000 of loans were in farm loans. $48,898,000 of loans were in credit card loans. $763,000 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 239 $48,510 $202,971
    Nonfarm, nonresidential loans - <$100k 79 $3,248 $41,114
    Nonfarm, nonresidential loans - $100-250k 76 $9,921 $130,539
    Nonfarm, nonresidential loans - $250k-1MM 84 $35,341 $420,726
    Commercial & Industrial, US addressed loans - <$1MM 789 $64,384 $81,602
    Commercial & Industrial, US addressed loans - <$100k 487 $15,466 $31,758
    Commercial & Industrial, US addressed loans - $100-250k 229 $28,304 $123,598
    Commercial & Industrial, US addressed loans - $250k-1MM 73 $20,614 $282,384
    Farmland loans - <$1MM 23 $2,378 $103,391
    Farmland loans - <$100k 13 $509 $39,154
    Farmland loans - $100-250k 7 $1,045 $149,286
    Farmland loans - $250k-1MM 3 $824 $274,667
    Agriculture operations loans - <$1MM 28 $549 $19,607
    Agriculture operations loans - <$100k 28 $549 $19,607