First National Bank Mortgage Rates, Fees & Info
Altavista, VALEI: 5493007WCJ9R6VLLYR82
Tax ID: 54-0211100
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Bank Data
Review & Overview
First National Bank is a smaller bank specializing in Refi and Home Purchase loans. First National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Lynchburg, Danville, Wilmington, Charlottesville, and Columbia among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)First National 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.
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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
117Origination Dollar Volume (All Markets)
$11,675,000Employee count
122Top 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 |
|---|---|---|---|---|---|
| LYNCHBURG, VA (FHA|USDA|VA) | 91 | $9,185,000 | $100,934 | $0 | 0.00% |
| Danville, VA (FHA|USDA|VA) | 19 | $1,145,000 | $60,263 | $0 | 0.00% |
| WILMINGTON, NC (FHA|USDA|VA) | 1 | $765,000 | $765,000 | $0 | 0.00% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 3 | $245,000 | $81,667 | $0 | 0.00% |
| COLUMBIA, SC (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| ROANOKE, VA (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 117 | $11,675,000 | $99,786 | $0 | 0.00% |
For 2019, First National Bank's most frequently originated type of loan was Conventional, with 117 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 61 | $5,515,000 | $90,410 | $0 | 0.00% |
| Home Purchase | 50 | $5,830,000 | $116,600 | $0 | 0.00% |
| Home Improvement | 6 | $330,000 | $55,000 | $0 | 0.00% |
For 2019, First National Bank's most frequently cited loan purpose was Refi, with 61 originations. The 2nd most popular reason was Home Purchase, with 50 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 117 | $11,675,000 | $99,786 | $0 | 0.00% |
For 2019, First National Bank's most frequently cited loan duration was Other, with 117 originations.
Loan Sizing
2019 saw First National Bank place emphasis on $100,000 or less loans with 72 originations, totaling $3,780,000 in origination value.
Applicant Income
First National Bank lent most frequently to those with incomes in the $50k or less range, with 27 originations. The second most popular income band? $50k-75k, with 18 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 117 | $11,675,000 | $99,786 | $0 | 0.00% |
First National Bank lent most frequently to those with DTI ratios of Exempt%, with 117 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.30%
First National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.89%
First National Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 117 | $11,675,000 | $99,786 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST NATIONAL BANK OF OMAHA | Conventional home mortgage | Closing on a mortgage | 2 | 33.3% |
| FIRST NATIONAL BANK OF OMAHA | Conventional home mortgage | Struggling to pay mortgage | 1 | 16.7% |
| FIRST NATIONAL BANK OF OMAHA | Conventional home mortgage | Trouble during payment process | 3 | 50.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First National Bank | 1033 Village Highway Rustburg, VA 24588 | Full Service B&M | $26,443 |
| First National Bank | 130 South Main Street Amherst, VA 24521 | Full Service B&M | $21,416 |
| First National Bank | 1303 Main Street Altavista, VA 24517 | Full Service B&M | $39,312 |
| First National Bank | 14417 Forest Road Forest, VA 24551 | Full Service B&M | $32,493 |
| First National Bank | 14580 Wards Road Lynchburg, VA 24502 | Full Service B&M | $64,549 |
| First National Bank | 20865 Timberlake Road Lynchburg, VA 24502 | Full Service B&M | $27,747 |
| First National Bank | 3309 Old Forest Road Lynchburg, VA 24501 | Full Service B&M | $27,569 |
| First National Bank | 3401 Odd Fellows Rd Timberlake, VA 24502 | Full Service B&M | $2,679 |
| First National Bank | 622 Broad Street Altavista, VA 24517 | Full Service B&M | $190,484 |
| First National Bank | 800 Main Street Lynchburg, VA 24504 | Full Service B&M | $125 |
For 2019, First National Bank had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $20,239 |
| Net interest income | $17,676 |
| Total noninterest income | $4,620 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $806 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,814 |
| Pre-tax net operating income | $5,495 |
| Securities gains (or losses, -) | $2 |
| Income before extraordinary items | $4,501 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,501 |
| Minority interest net income | $0 |
| Net income | $4,501 |
| Sale, conversion, retirement of capital stock, net | $146 |
| Net operating income | $4,499 |
First National Bank's gross interest income from loans was $20,239,000.
First National Bank's net interest income from loans was $17,676,000.
First National Bank's fee based income from loans was $806,000.
First National Bank's net income from loans was $4,501,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,563 |
| Provision for credit losses | $157 |
| Total noninterest expense | $16,644 |
| Salaries and employee benefits | $9,211 |
| Premises and equipment expense | $2,061 |
| Additional noninterest expense | $5,372 |
| Applicable income taxes | $996 |
| Net charge-offs | $57 |
| Cash dividends | $973 |
First National Bank's interest expense for loans was $2,563,000.
First National Bank's payroll and benefits expense were $9,211,000.
First National Bank's property, plant and equipment expenses $2,061,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $450,313 |
| Deposits held in domestic offices | $450,313 |
| Deposits by Individuals, partnerships, and corporations | $443,860 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $6,453 |
| Deposits by Commercial banks and other depository institutions in U.S. | $0 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $194,111 |
| Demand deposits | $110,450 |
| Nontransaction accounts | $256,202 |
| Money market deposit accounts (MMDAs) | $111,795 |
| Other savings deposits (excluding MMDAs) | $51,261 |
| Total time deposits | $93,145 |
| Total time and savings deposits | $339,863 |
| Noninterest-bearing deposits | $110,450 |
| Interest-bearing deposits | $339,863 |
| Retail deposits | $442,669 |
| IRAs and Keogh plan accounts | $31,770 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $499,389 |
| Cash & Balances due from depository institutions | $33,153 |
| Interest-bearing balances | $27,117 |
| Total securities | $44,958 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $389,849 |
| Loan and leases loss allowance | $3,472 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $15,547 |
| Other real estate owned | $666 |
| Goodwill and other intangibles | $539 |
| All other assets | $14,677 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $499,389 |
| Total Liabilities | $455,068 |
| Total deposits | $450,313 |
| Interest-bearing deposits | $339,863 |
| Deposits held in domestic offices | $450,313 |
| % insured (estimated) | $77 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $4,755 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $389,849 |
| Loan and leases loss allowance | $3,472 |
| Total loans and leases (domestic) | $393,321 |
| All real estate loans | $232,668 |
| Real estate loans in domestic offices | $232,668 |
| Construction and development loans | $17,336 |
| Residential 1-4 family construction | $6,250 |
| Other construction, all land development and other land | $11,086 |
| Loans secured by nonfarm nonresidential properties | $99,192 |
| Nonfarm nonresidential secured by owner-occupied properties | $60,408 |
| Commercial real estate & other non-farm, non-residential | $38,784 |
| Multifamily residential real estate | $13,814 |
| 1-4 family residential loans | $98,034 |
| Farmland loans | $4,292 |
| Loans held in foreign offices | $0 |
| Farm loans | $50 |
| Commercial and industrial loans | $57,261 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $99,214 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $91,227 |
| Other loans to individuals | $7,987 |
| All other loans & leases | $4,327 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $103 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $123 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
First National Bank had $389,849,000 of loans outstanding in 2019. $232,668,000 of loans were in real estate loans. $17,336,000 of loans were in development loans. $13,814,000 of loans were in multifamily mortgage loans. $98,034,000 of loans were in 1-4 family mortgage loans. $50,000 of loans were in farm loans. $0 of loans were in credit card loans. $91,227,000 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 | 321 | $72,291 | $225,206 |
| Nonfarm, nonresidential loans - <$100k | 115 | $9,750 | $84,783 |
| Nonfarm, nonresidential loans - $100-250k | 99 | $22,613 | $228,414 |
| Nonfarm, nonresidential loans - $250k-1MM | 107 | $39,928 | $373,159 |
| Commercial & Industrial, US addressed loans - <$1MM | 471 | $50,767 | $107,786 |
| Commercial & Industrial, US addressed loans - <$100k | 379 | $33,954 | $89,588 |
| Commercial & Industrial, US addressed loans - $100-250k | 55 | $5,193 | $94,418 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 37 | $11,620 | $314,054 |
| Farmland loans - <$1MM | 15 | $1,502 | $100,133 |
| Farmland loans - <$100k | 8 | $384 | $48,000 |
| Farmland loans - $100-250k | 3 | $363 | $121,000 |
| Farmland loans - $250k-1MM | 4 | $755 | $188,750 |
| Agriculture operations loans - <$1MM | 1 | $50 | $50,000 |
| Agriculture operations loans - <$100k | 1 | $50 | $50,000 |