First National Bank Mortgage Rates, Fees & Info

Altavista, VA

LEI: 5493007WCJ9R6VLLYR82

Tax ID: 54-0211100

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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 Virginia Beach among others. We have data for 7 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.

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Originations

177

Origination Dollar Volume (All Markets)

$46,205,000

Employee count

180

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
LYNCHBURG, VA (FHA|USDA|VA) 99 $29,385,000 $296,818 $0 0.00%
Danville, VA (FHA|USDA|VA) 62 $7,860,000 $126,774 $0 0.00%
Outside of Metro Areas 6 $5,620,000 $936,667 $0 0.00%
WILMINGTON, NC (FHA|USDA|VA) 1 $1,675,000 $1,675,000 $0 0.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 6 $970,000 $161,667 $0 0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $530,000 $265,000 $0 0.00%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
First National Bank's top markets include Lynchburg, Danville, Wilmington, Charlottesville, and Virginia Beach among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 177 $46,205,000 $261,045 $0 0.00%

    For 2021, First National Bank's most frequently originated type of loan was Conventional, with 177 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 87 $24,795,000 $285,000 $0 0.00%
    Home Purchase 86 $21,120,000 $245,581 $0 0.00%
    Home Improvement 3 $125,000 $41,667 $0 0.00%
    Other 1 $165,000 $165,000 $0 0.00%

    For 2021, First National Bank's most frequently cited loan purpose was Refi, with 87 originations. The 2nd most popular reason was Home Purchase, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 177 $46,205,000 $261,045 $0 0.00%

    For 2021, First National Bank's most frequently cited loan duration was Other, with 177 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 88 $4,540,000 $51,591 $0 0.00%
    $100k-200k 45 $6,355,000 $141,222 $0 0.00%
    $200k-400k 29 $7,805,000 $269,138 $0 0.00%
    $1MM+ 7 $22,785,000 $3,255,000 $0 0.00%
    $400k-600k 5 $2,335,000 $467,000 $0 0.00%
    $600k-1MM 3 $2,385,000 $795,000 $0 0.00%

    2021 saw First National Bank place emphasis on $100,000 or less loans with 88 originations, totaling $4,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 26 $2,390,000 $91,923 $0 0.00%
    $50k or less 26 $2,000,000 $76,923 $0 0.00%
    $75k-100k 23 $1,855,000 $80,652 $0 0.00%
    $100k-150k 18 $2,600,000 $144,444 $0 0.00%
    $150k-250k 9 $2,285,000 $253,889 $0 0.00%
    $250k+ 9 $4,985,000 $553,889 $0 0.00%

    First National Bank lent most frequently to those with incomes in the $50k-75k range, with 26 originations. The second most popular income band? $50k or less, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 177 $46,205,000 $261,045 $0 0.00%

    First National Bank lent most frequently to those with DTI ratios of Exempt%, with 177 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 66 $30,090,000 $455,909 $0 0.00%
    White 96 $11,430,000 $119,063 $0 0.00%
    Black 11 $2,205,000 $200,455 $0 0.00%
    Asian 3 $2,115,000 $705,000 $0 0.00%
    Not provided 1 $365,000 $365,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.20%

    First National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.83%

    First National Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 177 $46,205,000 $261,045

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    177 $46,205,000 $261,045

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Trouble during payment process 1 25.0%
    FIRST NATIONAL BANK OF OMAHA FHA mortgage Improper use of your report 1 25.0%
    FIRST NATIONAL BANK OF OMAHA Other type of mortgage Struggling to pay mortgage 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First National Bank 1033 Village Highway Rustburg, VA 24588 Full Service B&M $66,591
    First National Bank 10370 Martinsville Hwy Danville, VA 24541 Full Service B&M $12,474
    First National Bank 130 South Main Street Amherst, VA 24521 Full Service B&M $38,298
    First National Bank 1303 Main Street Altavista, VA 24517 Full Service B&M $59,036
    First National Bank 1312 South Boston Road Danville, VA 24540 Full Service B&M $33,459
    First National Bank 14417 Forest Road Forest, VA 24551 Full Service B&M $48,088
    First National Bank 14580 Wards Road Lynchburg, VA 24502 Full Service B&M $90,601
    First National Bank 18077 Forest Road Forest, VA 24551 Full Service B&M $255
    First National Bank 20865 Timberlake Road Lynchburg, VA 24502 Full Service B&M $38,010
    First National Bank 2600 Riverside Drive Danville, VA 24541 Full Service B&M $41,125
    First National Bank 3309 Old Forest Road Lynchburg, VA 24501 Full Service B&M $45,871
    First National Bank 3350 North Main Street Danville, VA 24540 Full Service B&M $20,052
    First National Bank 336 Main Street Danville, VA 24541 Full Service B&M $84,810
    First National Bank 3401 Odd Fellows Rd Timberlake, VA 24502 Full Service B&M $13,270
    First National Bank 4080 Franklin Turnpike Danville, VA 24540 Full Service B&M $24,139
    First National Bank 55 North Main Street Chatham, VA 24531 Full Service B&M $11,698
    First National Bank 622 Broad Street Altavista, VA 24517 Full Service B&M $224,641
    First National Bank 800 Main Street Lynchburg, VA 24504 Full Service B&M $5,296

    For 2021, First National Bank had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,817
    Net interest income $25,090
    Total noninterest income $7,187
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $905
    Trading account gains and fees $0
    Additional Noninterest Income $6,282
    Pre-tax net operating income $6,140
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,105
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,105
    Minority interest net income $0
    Net income $5,105
    Sale, conversion, retirement of capital stock, net $217
    Net operating income $5,105

    First National Bank's gross interest income from loans was $26,817,000.
    First National Bank's net interest income from loans was $25,090,000.
    First National Bank's fee based income from loans was $905,000.
    First National Bank's net income from loans was $5,105,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,727
    Provision for credit losses $209
    Total noninterest expense $25,928
    Salaries and employee benefits $14,756
    Premises and equipment expense $3,465
    Additional noninterest expense $7,707
    Applicable income taxes $1,035
    Net charge-offs $24
    Cash dividends $1,645

    First National Bank's interest expense for loans was $1,727,000.
    First National Bank's payroll and benefits expense were $14,756,000.
    First National Bank's property, plant and equipment expenses $3,465,000.

    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 1.0%
    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 $938,112
    Deposits held in domestic offices $938,112
    Deposits by Individuals, partnerships, and corporations $875,718
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $62,394
    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 $491,270
    Demand deposits $341,236
    Nontransaction accounts $446,842
    Money market deposit accounts (MMDAs) $184,442
    Other savings deposits (excluding MMDAs) $150,431
    Total time deposits $111,969
    Total time and savings deposits $596,876
    Noninterest-bearing deposits $341,236
    Interest-bearing deposits $596,877
    Retail deposits $929,109
    IRAs and Keogh plan accounts $41,591
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,014,122
    Cash & Balances due from depository institutions $298,845
    Interest-bearing balances $291,221
    Total securities $120,709
    Federal funds sold & reverse repurchase $0
    Net loans and leases $548,075
    Loan and leases loss allowance $3,663
    Trading account assets $0
    Bank premises and fixed assets $22,609
    Other real estate owned $0
    Goodwill and other intangibles $1,952
    All other assets $21,932

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,014,122
    Total Liabilities $943,424
    Total deposits $938,112
    Interest-bearing deposits $596,877
    Deposits held in domestic offices $938,112
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $5,312

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $548,075
    Loan and leases loss allowance $3,663
    Total loans and leases (domestic) $551,738
    All real estate loans $360,611
    Real estate loans in domestic offices $360,611
    Construction and development loans $31,545
    Residential 1-4 family construction $11,075
    Other construction, all land development and other land $20,470
    Loans secured by nonfarm nonresidential properties $166,082
    Nonfarm nonresidential secured by owner-occupied properties $82,572
    Commercial real estate & other non-farm, non-residential $83,510
    Multifamily residential real estate $28,521
    1-4 family residential loans $128,397
    Farmland loans $6,066
    Loans held in foreign offices $0
    Farm loans $45
    Commercial and industrial loans $79,172
    To non-U.S. addressees $0
    Loans to individuals $101,610
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $92,371
    Other loans to individuals $9,239
    All other loans & leases $10,798
    Loans to foreign governments and official institutions $0
    Other loans $123
    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 $1,096
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    First National Bank had $548,075,000 of loans outstanding in 2021. $360,611,000 of loans were in real estate loans. $31,545,000 of loans were in development loans. $28,521,000 of loans were in multifamily mortgage loans. $128,397,000 of loans were in 1-4 family mortgage loans. $45,000 of loans were in farm loans. $0 of loans were in credit card loans. $92,371,000 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 532 $97,449 $183,175
    Nonfarm, nonresidential loans - <$100k 223 $22,158 $99,363
    Nonfarm, nonresidential loans - $100-250k 145 $18,699 $128,959
    Nonfarm, nonresidential loans - $250k-1MM 164 $56,592 $345,073
    Commercial & Industrial, US addressed loans - <$1MM 715 $57,300 $80,140
    Commercial & Industrial, US addressed loans - <$100k 528 $25,124 $47,583
    Commercial & Industrial, US addressed loans - $100-250k 123 $13,323 $108,317
    Commercial & Industrial, US addressed loans - $250k-1MM 64 $18,853 $294,578
    Farmland loans - <$1MM 29 $3,625 $125,000
    Farmland loans - <$100k 11 $465 $42,273
    Farmland loans - $100-250k 15 $2,254 $150,267
    Farmland loans - $250k-1MM 3 $906 $302,000
    Agriculture operations loans - <$1MM 1 $45 $45,000
    Agriculture operations loans - <$100k 1 $45 $45,000