Bankfirst Financial Services Mortgage Rates, Fees & Info
Columbus, MSLEI: 549300BR7OTD25RTS027
Tax ID: 64-0202970
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Bank Data
Review & Overview
Bankfirst Financial Services is a smaller bank specializing in Refi and Home Purchase loans. Bankfirst Financial Services has a high proportion of conventional loans. Their top markets by origination volume include: Tuscaloosa, Jackson, Starkville, Columbus, and Oxford among others. We have data for 23 markets. (Some data included below & more in-depth data is available with an active subscription.)Bankfirst Financial Services 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. 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 4.81% | 4/21/24 |
| 30 Year Conventional Purchase | 6.54% | 4/21/24 |
| 30 Year Conventional Refi | 6.42% | 4/21/24 |
| 30 Year Cash-out Refi | 6.83% | 4/21/24 |
| 30 Year FHA Purchase | 7.00% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 5.86% | 4/21/24 |
| 30 Year VA Refi | 6.27% | 4/21/24 |
| 30 Year USDA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.20% | 4/21/24 |
| 15 Year Conventional Refi | 6.94% | 4/21/24 |
| 15 Year Cash-out Refi | 6.94% | 4/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Bankfirst Financial Services Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
516Origination Dollar Volume (All Markets)
$110,900,000Employee count
256Top 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 |
|---|---|---|---|---|---|
| TUSCALOOSA, AL (FHA|USDA|VA) | 123 | $45,215,000 | $367,602 | $0 | 5.07% |
| JACKSON, MS (FHA|USDA|VA) | 89 | $17,655,000 | $198,371 | $0 | 4.64% |
| Outside of Metro Areas | 90 | $9,420,000 | $104,667 | $0 | 5.35% |
| Starkville, MS (FHA|USDA|VA) | 48 | $8,610,000 | $179,375 | $0 | 5.07% |
| Columbus, MS (FHA|USDA|VA) | 71 | $7,585,000 | $106,831 | $0 | 5.71% |
| Oxford, MS (FHA|USDA|VA) | 33 | $7,215,000 | $218,636 | $0 | 4.43% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $3,315,000 | $3,315,000 | $0 | 4.75% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 5 | $3,125,000 | $625,000 | $0 | 4.80% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 5 | $2,485,000 | $497,000 | $0 | 4.79% |
| West Point, MS (FHA|USDA|VA) | 19 | $1,095,000 | $57,632 | $0 | 6.59% |
| Meridian, MS (FHA|USDA|VA) | 3 | $975,000 | $325,000 | $0 | 5.25% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 3 | $835,000 | $278,333 | $0 | 3.79% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $700,000 | $350,000 | $0 | 3.75% |
| Laurel, MS (FHA|USDA|VA) | 12 | $610,000 | $50,833 | $0 | 5.24% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $465,000 | $465,000 | $0 | 5.50% |
| Tupelo, MS (FHA|USDA|VA) | 3 | $335,000 | $111,667 | $0 | 5.50% |
| LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 3.88% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 4.50% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 5.81% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 5.25% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 4.89% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 5.63% |
| LUBBOCK, TX (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 4.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against BankFirst Financial Services 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 | 516 | $110,900,000 | $214,922 | $0 | 5.14% |
For 2019, Bankfirst Financial Services's most frequently originated type of loan was Conventional, with 516 originations.
Loan Reason
For 2019, Bankfirst Financial Services's most frequently cited loan purpose was Refi, with 250 originations. The 2nd most popular reason was Home Purchase, with 205 originations.
Loan Duration/Length
For 2019, Bankfirst Financial Services's most frequently cited loan duration was 5 Year, with 228 originations. The 2nd most popular length was 30 Year, with 171 originations.
Origination Fees/Closing Costs
Bankfirst Financial Services's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 260 originations.
Interest Rates
During 2019, Bankfirst Financial Services's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 4-5%, with 163 originations.
Loan Sizing
2019 saw Bankfirst Financial Services place emphasis on $100,000 or less loans with 214 originations, totaling $10,640,000 in origination value.
Applicant Income
Bankfirst Financial Services lent most frequently to those with incomes in the $50k or less range, with 87 originations. The second most popular income band? $100k-150k, with 82 originations.
Applicant Debt to Income Ratio
Bankfirst Financial Services lent most frequently to those with DTI ratios of 20-30%, with 76 originations. The next most common DTI ratio? 30-36%, with 54 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.41%
Bankfirst Financial Services has an average approval rate.
Pick Rate
Approvals leading to origination88.76%
Bankfirst Financial Services has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 516 | $110,900,000 | $214,922 |
Occupancy Type Mix
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Closing on a mortgage | 1 | 7.1% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 2 | 14.3% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 6 | 42.9% |
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 1 | 7.1% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| BankFirst Financial Services | 1000 Highway 12 West Starkville, MS 39759 | Full Service B&M | $21,564 |
| BankFirst Financial Services | 101 Russell Street Starkville, MS 39759 | Full Service B&M | $43,727 |
| BankFirst Financial Services | 106 Second Avenue Northwest Gordo, AL 35466 | Full Service B&M | $52,226 |
| BankFirst Financial Services | 110 Lehmberg Road Columbus, MS 39702 | Full Service B&M | $14,479 |
| BankFirst Financial Services | 110 South Jefferson Street Macon, MS 39341 | Full Service B&M | $123,597 |
| BankFirst Financial Services | 114 East Church Street Newton, MS 39345 | Full Service B&M | $122,673 |
| BankFirst Financial Services | 13 West Washington Street Hickory, MS 39332 | Full Service B&M | $0 |
| BankFirst Financial Services | 1597 Highland Colony Parkway Madison, MS 39110 | Full Service B&M | $93,046 |
| BankFirst Financial Services | 201 Bank First Drive Flowood, MS 39232 | Full Service B&M | $79,049 |
| BankFirst Financial Services | 2027 Highway 45 North Columbus, MS 39701 | Full Service B&M | $12,254 |
| BankFirst Financial Services | 2201 7th Street Tuscaloosa, AL 35401 | Full Service B&M | $27,871 |
| BankFirst Financial Services | 2323 Paul W Bryant Drive Tuscaloosa, AL 35403 | Full Service B&M | $113,431 |
| BankFirst Financial Services | 25 Third Street, N. E. Aliceville, AL 35442 | Full Service B&M | $41,245 |
| BankFirst Financial Services | 292 Eastside Drive Newton, MS 39345 | Full Service B&M | $1,923 |
| BankFirst Financial Services | 4400 Old Canton Road, Suite 140 Jackson, MS 39211 | Full Service B&M | $23,580 |
| BankFirst Financial Services | 54 Mcfarland Boulevard Northport, AL 35476 | Full Service B&M | $44,933 |
| BankFirst Financial Services | 7342 Highway 45 Alt North West Point, MS 39773 | Full Service B&M | $74,159 |
| BankFirst Financial Services | 900 Main Street Columbus, MS 39703 | Full Service B&M | $181,567 |
| BankFirst Financial Services | Elliott Street And Highway 17 Carrollton, AL 35447 | Full Service B&M | $17,978 |
| BankFirst Financial Services | Front Street Lake, MS 39092 | Full Service B&M | $5,821 |
| BankFirst Financial Services | Highway 15 South (East Side) Louin, MS 39338 | Full Service B&M | $12,207 |
| BankFirst Financial Services | Scanlan And Richardson Streets Newton, MS 39345 | Limited, Drive-thru | $0 |
For 2019, Bankfirst Financial Services had 22 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $50,101 |
| Net interest income | $40,878 |
| Total noninterest income | $14,973 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $4,672 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $10,301 |
| Pre-tax net operating income | $17,793 |
| Securities gains (or losses, -) | $430 |
| Income before extraordinary items | $14,012 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $14,012 |
| Minority interest net income | $0 |
| Net income | $14,012 |
| Sale, conversion, retirement of capital stock, net | $380 |
| Net operating income | $13,672 |
Bankfirst Financial Services's gross interest income from loans was $50,101,000.
Bankfirst Financial Services's net interest income from loans was $40,878,000.
Bankfirst Financial Services's fee based income from loans was $4,672,000.
Bankfirst Financial Services's net income from loans was $14,012,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $9,223 |
| Provision for credit losses | $1,577 |
| Total noninterest expense | $36,481 |
| Salaries and employee benefits | $20,782 |
| Premises and equipment expense | $2,988 |
| Additional noninterest expense | $12,711 |
| Applicable income taxes | $4,211 |
| Net charge-offs | $459 |
| Cash dividends | $27,400 |
Bankfirst Financial Services's interest expense for loans was $9,223,000.
Bankfirst Financial Services's payroll and benefits expense were $20,782,000.
Bankfirst Financial Services's property, plant and equipment expenses $2,988,000.
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 | 5.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| 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 | $1,110,104 |
| Deposits held in domestic offices | $1,110,104 |
| Deposits by Individuals, partnerships, and corporations | $962,679 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $146,780 |
| Deposits by Commercial banks and other depository institutions in U.S. | $645 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $153,053 |
| Demand deposits | $62,009 |
| Nontransaction accounts | $957,051 |
| Money market deposit accounts (MMDAs) | $558,886 |
| Other savings deposits (excluding MMDAs) | $125,551 |
| Total time deposits | $272,614 |
| Total time and savings deposits | $1,048,095 |
| Noninterest-bearing deposits | $246,943 |
| Interest-bearing deposits | $863,161 |
| Retail deposits | $1,035,704 |
| IRAs and Keogh plan accounts | $40,863 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,278,148 |
| Cash & Balances due from depository institutions | $62,038 |
| Interest-bearing balances | $27,281 |
| Total securities | $217,648 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $895,022 |
| Loan and leases loss allowance | $9,418 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $31,900 |
| Other real estate owned | $289 |
| Goodwill and other intangibles | $23,884 |
| All other assets | $47,367 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,278,148 |
| Total Liabilities | $1,129,868 |
| Total deposits | $1,110,104 |
| Interest-bearing deposits | $863,161 |
| Deposits held in domestic offices | $1,110,104 |
| % insured (estimated) | $72 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $10,000 |
| Subordinated debt | $0 |
| All other liabilities | $9,764 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $895,022 |
| Loan and leases loss allowance | $9,418 |
| Total loans and leases (domestic) | $904,440 |
| All real estate loans | $748,270 |
| Real estate loans in domestic offices | $748,270 |
| Construction and development loans | $79,799 |
| Residential 1-4 family construction | $21,692 |
| Other construction, all land development and other land | $58,107 |
| Loans secured by nonfarm nonresidential properties | $338,328 |
| Nonfarm nonresidential secured by owner-occupied properties | $164,721 |
| Commercial real estate & other non-farm, non-residential | $173,607 |
| Multifamily residential real estate | $72,851 |
| 1-4 family residential loans | $205,071 |
| Farmland loans | $52,221 |
| Loans held in foreign offices | $0 |
| Farm loans | $27,340 |
| Commercial and industrial loans | $105,081 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $13,089 |
| Credit card loans | $2,252 |
| Related Plans | $152 |
| Consumer Auto Loans | $3,071 |
| Other loans to individuals | $7,614 |
| All other loans & leases | $10,659 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $92 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $416 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $2,002 |
| Non 1-4 family restructured loans & leases | $2,002 |
| Total loans and leases (foreign) | $0 |
BankFirst Financial Services had $895,022,000 of loans outstanding in 2019. $748,270,000 of loans were in real estate loans. $79,799,000 of loans were in development loans. $72,851,000 of loans were in multifamily mortgage loans. $205,071,000 of loans were in 1-4 family mortgage loans. $27,340,000 of loans were in farm loans. $2,252,000 of loans were in credit card loans. $3,071,000 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 | 555 | $105,477 | $190,049 |
| Nonfarm, nonresidential loans - <$100k | 163 | $6,231 | $38,227 |
| Nonfarm, nonresidential loans - $100-250k | 162 | $19,708 | $121,654 |
| Nonfarm, nonresidential loans - $250k-1MM | 230 | $79,538 | $345,817 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,366 | $65,458 | $47,919 |
| Commercial & Industrial, US addressed loans - <$100k | 1,052 | $19,394 | $18,435 |
| Commercial & Industrial, US addressed loans - $100-250k | 200 | $18,405 | $92,025 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 114 | $27,659 | $242,623 |
| Farmland loans - <$1MM | 323 | $28,393 | $87,904 |
| Farmland loans - <$100k | 198 | $6,833 | $34,510 |
| Farmland loans - $100-250k | 77 | $9,663 | $125,494 |
| Farmland loans - $250k-1MM | 48 | $11,897 | $247,854 |
| Agriculture operations loans - <$1MM | 403 | $20,057 | $49,769 |
| Agriculture operations loans - <$100k | 305 | $5,947 | $19,498 |
| Agriculture operations loans - $100-250k | 66 | $6,100 | $92,424 |
| Agriculture operations loans - $250k-1MM | 32 | $8,010 | $250,313 |