First Arkansas Bank And Trust Mortgage Rates, Fees & Info
Jacksonville, ARLEI: 5493007BBMW58UQT5588
Tax ID: 71-0231333
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
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, Crestview, Searcy, Hot Springs, and Los Angeles among others. We have data for 9 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.
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Originations
126Origination Dollar Volume (All Markets)
$43,270,000Top 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) | 107 | $36,015,000 | $336,589 | $3,215 | 5.48% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $2,505,000 | $2,505,000 | $0 | 3.50% |
| Outside of Metro Areas | 9 | $1,895,000 | $210,556 | $2,947 | 4.85% |
| Searcy, AR (FHA|USDA|VA) | 4 | $900,000 | $225,000 | $0 | 4.48% |
| HOT SPRINGS, AR (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 4.50% |
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 5.75% |
| Batesville, AR (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 5.95% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 4.15% |
| JONESBORO, AR (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 4.25% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 126 | $43,270,000 | $343,413 | $3,103 | 5.36% |
For 2022, First Arkansas Bank And Trust's most frequently originated type of loan was Conventional, with 126 originations.
Loan Reason
For 2022, First Arkansas Bank And Trust's most frequently cited loan purpose was Home Purchase, with 111 originations. The 2nd most popular reason was Refi, with 6 originations.
Loan Duration/Length
For 2022, First Arkansas Bank And Trust's most frequently cited loan duration was 5 Year, with 50 originations. The 2nd most popular length was 3 Year, with 39 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 11 | $2,295,000 | $208,636 |
| $1k-2k | 1 | $85,000 | $85,000 |
First Arkansas Bank And Trust's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 11 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 46 | $9,970,000 | $216,739 |
| 6-7% | 24 | $14,690,000 | $612,083 |
| 3-4% | 22 | $10,730,000 | $487,727 |
| 5-6% | 19 | $4,555,000 | $239,737 |
| 7-8% | 15 | $3,325,000 | $221,667 |
During 2022, First Arkansas Bank And Trust's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 46 originations.
Loan Sizing
2022 saw First Arkansas Bank And Trust place emphasis on $100k-200k loans with 41 originations, totaling $6,145,000 in origination value.
Applicant Income
First Arkansas Bank And Trust lent most frequently to those with incomes in the $50k or less range, with 8 originations. The second most popular income band? $75k-100k, with 7 originations.
Applicant Debt to Income Ratio
First Arkansas Bank And Trust lent most frequently to those with DTI ratios of <20%, with 8 originations. The next most common DTI ratio? 20-30%, with 6 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications100.00%
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 origination99.21%
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 | 126 | $43,270,000 | $343,413 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2022 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST CITIZENS BANCSHARES, INC. | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |