The First National Bank Of Fort Smith Mortgage Rates, Fees & Info

Fort Smith, AR

LEI: 549300BREPLU2KKPI102

Tax ID: 71-0058845

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

The First National Bank Of Fort Smith is a smaller bank specializing in Home Purchase and Refi loans. The First National Bank Of Fort Smith has a high proportion of conventional loans. Their top markets by origination volume include: Fayetteville, Fort Smith, Little Rock, Oklahoma City, and Tulsa among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

The First National Bank Of Fort Smith 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. The First National Bank Of Fort Smith 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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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.59%	12/16/24
30 Year Conventional Refi	6.82%	12/16/24
30 Year Cash-out Refi	6.67%	12/16/24
30 Year FHA Purchase	6.95%	12/16/24
30 Year FHA Refi	6.27%	12/16/24
30 Year VA Purchase	6.27%	12/16/24
30 Year VA Refi	6.27%	12/16/24
30 Year USDA Purchase	6.27%	12/16/24
15 Year Conventional Purchase	6.11%	12/16/24
15 Year Conventional Refi	6.19%	12/16/24
15 Year Cash-out Refi	6.19%	12/16/24
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.

The First National Bank Of Fort Smith Mortgage Calculator

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This is not an official calculator from The First National Bank Of Fort Smith. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

815

Origination Dollar Volume (All Markets)

$214,825,000

Employee count

292

Awards

The First National Bank of Fort Smith 30 Year Conventional Loans bronze

Show all (1) awards

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
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA\|USDA\|VA)	463	$142,705,000	$308,218	$2,613	3.38%
FORT SMITH, AR-OK (FHA\|USDA\|VA)	306	$62,670,000	$204,804	$2,458	3.74%
Outside of Metro Areas	22	$4,310,000	$195,909	$3,008	3.89%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA\|USDA\|VA)	8	$1,910,000	$238,750	$3,151	3.49%
OKLAHOMA CITY, OK (FHA\|USDA\|VA)	5	$1,135,000	$227,000	$4,687	3.90%
TULSA, OK (FHA\|USDA\|VA)	3	$675,000	$225,000	$3,696	4.53%
PHOENIX-MESA-CHANDLER, AZ (FHA\|USDA\|VA)	1	$375,000	$375,000	$3,491	3.13%
Helena, MT (FHA\|USDA\|VA)	1	$355,000	$355,000	$3,762	2.13%
HOT SPRINGS, AR (FHA\|USDA\|VA)	3	$285,000	$95,000	$2,593	3.69%
Muskogee, OK (FHA\|USDA\|VA)	1	$185,000	$185,000	$3,443	2.63%
CHATTANOOGA, TN-GA (FHA\|USDA\|VA)	1	$155,000	$155,000	$2,059	3.00%
Tahlequah, OK (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	5.75%

The First National Bank Of Fort Smith's top markets include Fayetteville, Fort Smith, Little Rock, Oklahoma City, and Tulsa among others.

Their top states include:

Arkansas (FHA|USDA|VA)

Oklahoma (FHA|USDA|VA)

Arizona (FHA|USDA|VA)

Montana (FHA|USDA|VA)

Colorado (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against The First National Bank of Fort Smith based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

First Arkansas Bank and Trust
Similarity Rank: 528

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Similarity Rank: 732

FIRST WESTERN MORTGAGE, INC.
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Similarity Rank: 1395

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First National Bank
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STANDARD MORTGAGE CORPORATION
Similarity Rank: 2211

Firstar Bank
Similarity Rank: 3392

First Security Bank
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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	815	$214,825,000	$263,589	$2,591	3.54%

For 2020, The First National Bank Of Fort Smith's most frequently originated type of loan was Conventional, with 815 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	442	$128,740,000	$291,267	$2,671	3.68%
Refi	270	$68,600,000	$254,074	$2,394	3.33%
Cash Out Refi	71	$12,715,000	$179,085	$2,924	3.11%
Other	18	$2,660,000	$147,778	$2,426	3.92%
Home Improvement	14	$2,110,000	$150,714	$1,604	4.97%

For 2020, The First National Bank Of Fort Smith's most frequently cited loan purpose was Home Purchase, with 442 originations. The 2nd most popular reason was Refi, with 270 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	410	$92,270,000	$225,049	$2,662	3.13%
15 Year	137	$26,845,000	$195,949	$2,483	2.85%
5 Year	79	$27,075,000	$342,722	$1,669	5.00%
Other	48	$38,390,000	$799,792	$2,644	4.91%
20 Year	48	$9,510,000	$198,125	$2,436	3.26%
3 Year	45	$8,975,000	$199,444	$0	4.72%
1 Year	34	$7,670,000	$225,588	$2,994	5.01%
10 Year	14	$4,090,000	$292,143	$2,468	2.95%

For 2020, The First National Bank Of Fort Smith's most frequently cited loan duration was 30 Year, with 410 originations. The 2nd most popular length was 15 Year, with 137 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	504	$106,560,000	$211,429
$1k-2k	97	$17,945,000	$185,000
$2k-3k	34	$9,500,000	$279,412
$3k-4k	10	$2,900,000	$290,000
$4k-5k	1	$215,000	$215,000
$5k+	1	$455,000	$455,000

The First National Bank Of Fort Smith's average total fees were $2,662, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 504 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	256	$58,210,000	$227,383
3-4%	207	$50,265,000	$242,826
4-5%	148	$66,720,000	$450,811
<2.5%	120	$29,720,000	$247,667
5-6%	80	$9,760,000	$122,000
6-7%	4	$150,000	$37,500

During 2020, The First National Bank Of Fort Smith's average interest rate for loans was 3.13%, while their most frequently originated rate bucket for loans was 2.5-3%, with 256 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	310	$84,580,000	$272,839	$2,735	3.22%
$100k-200k	294	$43,840,000	$149,116	$2,451	3.50%
$100,000 or less	149	$9,725,000	$65,268	$2,139	4.31%
$400k-600k	47	$21,735,000	$462,447	$3,408	3.12%
$1MM+	11	$51,155,000	$4,650,455	$0	4.27%
$600k-1MM	4	$3,790,000	$947,500	$0	4.91%

2020 saw The First National Bank Of Fort Smith place emphasis on $200k-400k loans with 310 originations, totaling $84,580,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	158	$38,350,000	$242,722	$2,596	3.09%
$50k-75k	124	$19,720,000	$159,032	$2,566	3.37%
$50k or less	106	$12,510,000	$118,019	$2,372	3.61%
$150k-250k	100	$29,040,000	$290,400	$2,884	3.07%
$75k-100k	95	$19,305,000	$203,211	$2,607	3.23%
$250k+	55	$15,645,000	$284,455	$2,714	3.31%

The First National Bank Of Fort Smith lent most frequently to those with incomes in the $100k-150k range, with 158 originations. The second most popular income band? $50k-75k, with 124 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	202	$43,300,000	$214,356	$2,503	3.15%
<20%	146	$31,900,000	$218,493	$2,450	3.01%
30-36%	126	$25,450,000	$201,984	$2,697	3.35%
36%	21	$3,895,000	$185,476	$2,500	3.58%
41%	20	$3,280,000	$164,000	$2,552	3.36%
39%	19	$3,735,000	$196,579	$2,964	3.36%
44%	16	$3,230,000	$201,875	$2,783	3.47%
40%	16	$3,900,000	$243,750	$2,517	3.32%
37%	16	$3,220,000	$201,250	$3,472	3.22%
42%	13	$2,585,000	$198,846	$2,853	3.45%
43%	12	$2,360,000	$196,667	$2,519	3.23%
38%	11	$2,945,000	$267,727	$2,921	3.27%
45%	8	$2,190,000	$273,750	$2,581	2.92%
46%	8	$1,840,000	$230,000	$2,628	2.91%
49%	8	$1,830,000	$228,750	$2,491	2.97%
48%	7	$1,405,000	$200,714	$2,536	3.25%
47%	6	$1,580,000	$263,333	$2,341	3.23%

The First National Bank Of Fort Smith lent most frequently to those with DTI ratios of 20-30%, with 202 originations. The next most common DTI ratio? <20%, with 146 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	583	$118,595,000	$203,422	$2,575	3.38%
Not applicable	108	$70,150,000	$649,537	$0	4.77%
Asian	64	$15,260,000	$238,438	$2,638	3.18%
Not provided	23	$5,105,000	$221,957	$2,608	3.14%
American Indian	31	$4,585,000	$147,903	$2,847	3.52%
Black	6	$1,130,000	$188,333	$2,248	2.98%

Approval Rates

Total approvals of all applications
92.78%

The First National Bank Of Fort Smith has an average approval rate.

Pick Rate

Approvals leading to origination
76.93%

The First National Bank Of Fort Smith has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	815	$214,825,000	$263,589

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	3	$1,165,000	$388,333
Multifamily:Site-Built	25	$56,795,000	$2,271,800
Single Family (1-4 Units):Manufactured	13	$995,000	$76,538
Single Family (1-4 Units):Site-Built	774	$155,870,000	$201,382

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	44	$5,700,000	$129,545	$2,165	3.95%
40-60%	89	$17,195,000	$193,202	$2,306	3.29%
60-80%	362	$101,870,000	$281,409	$2,595	3.42%
80-100%	307	$88,915,000	$289,625	$2,735	3.63%
Over 100%	1	$95,000	$95,000	$0	6.00%
Under 20%	10	$960,000	$96,000	$638	5.08%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
The First National Bank of Fort Smith	1000 South Kerr Boulevard Sallisaw, OK 74955	Full Service B&M	$74,252
The First National Bank of Fort Smith	1500 East Cherokee Sallisaw, OK 74955	Limited, Drive-thru	$31,636
The First National Bank of Fort Smith	1626 Empire St Lowell, AR 72745	Full Service B&M	$12,895
The First National Bank of Fort Smith	2000 Midland Boulevard Fort Smith, AR 72901	Full Service B&M	$35,436
The First National Bank of Fort Smith	225 E Main St Charleston, AR 72933	Full Service B&M	$24,000
The First National Bank of Fort Smith	2638 East Joyce Blvd., Suite 100 Fayetteville, AR 72703	Full Service B&M	$28,919
The First National Bank of Fort Smith	2727 Grand Avenue Fort Smith, AR 72901	Full Service B&M	$21,709
The First National Bank of Fort Smith	311 East Center Street Greenwood, AR 72936	Full Service B&M	$28,443
The First National Bank of Fort Smith	350 East Centerton Boulevard Centerton, AR 72719	Full Service B&M	$21,940
The First National Bank of Fort Smith	3515 Greenwood Road Fort Smith, AR 72903	Full Service B&M	$67,799
The First National Bank of Fort Smith	3706 Pinnacle Parkway Hill Rogers, AR 72758	Full Service B&M	$43,951
The First National Bank of Fort Smith	400 W Main Street Lavaca, AR 72941	Full Service B&M	$33,992
The First National Bank of Fort Smith	401 East Ray Fine Blvd. Roland, OK 74954	Full Service B&M	$9,461
The First National Bank of Fort Smith	401 Sw A Street Bentonville, AR 72712	Full Service B&M	$15,096
The First National Bank of Fort Smith	5201 Rogers Ave Fort Smith, AR 72903	Full Service B&M	$82,701
The First National Bank of Fort Smith	602 Garrison Avenue Fort Smith, AR 72901	Full Service B&M	$535,296
The First National Bank of Fort Smith	7410 Rogers Avenue Fort Smith, AR 72903	Full Service B&M	$90,117
The First National Bank of Fort Smith	800 Phoenix Avenue Fort Smith, AR 72901	Full Service B&M	$57,169
The First National Bank of Fort Smith	801 North Dixieland Rogers, AR 72756	Full Service B&M	$57,905
The First National Bank of Fort Smith	8225 South Zero Fort Smith, AR 72903	Full Service B&M	$43,823
The First National Bank of Fort Smith	9300 Highway 71 South Fort Smith, AR 72903	Full Service B&M	$98,059

For 2020, The First National Bank Of Fort Smith had 21 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$57,588
Net interest income	$53,141
Total noninterest income	$18,132
Gross Fiduciary activities income	$3,614
Service charges on deposit accounts	$3,543
Trading account gains and fees	$0
Additional Noninterest Income	$10,975
Pre-tax net operating income	$31,666
Securities gains (or losses, -)	$135
Income before extraordinary items	$24,214
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$24,214
Minority interest net income	$0
Net income	$24,214
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$24,107

The First National Bank Of Fort Smith's gross interest income from loans was $57,588,000.
The First National Bank Of Fort Smith's net interest income from loans was $53,141,000.
The First National Bank Of Fort Smith's fee based income from loans was $3,543,000.
The First National Bank Of Fort Smith's net income from loans was $24,214,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$4,447
Provision for credit losses	$2,993
Total noninterest expense	$36,614
Salaries and employee benefits	$22,832
Premises and equipment expense	$4,214
Additional noninterest expense	$9,568
Applicable income taxes	$7,587
Net charge-offs	$-782
Cash dividends	$19,000

The First National Bank Of Fort Smith's interest expense for loans was $4,447,000.
The First National Bank Of Fort Smith's payroll and benefits expense were $22,832,000.
The First National Bank Of Fort Smith's property, plant and equipment expenses $4,214,000.

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	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	1.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$1,465,943
Deposits held in domestic offices	$1,465,943
Deposits by Individuals, partnerships, and corporations	$1,403,412
Deposits by U.S. Government	$1
Deposits by States and political subdivisions in the U.S.	$55,996
Deposits by Commercial banks and other depository institutions in U.S.	$6,534
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$549,230
Demand deposits	$417,688
Nontransaction accounts	$916,713
Money market deposit accounts (MMDAs)	$617,846
Other savings deposits (excluding MMDAs)	$132,133
Total time deposits	$166,734
Total time and savings deposits	$1,048,255
Noninterest-bearing deposits	$580,800
Interest-bearing deposits	$885,143
Retail deposits	$1,433,206
IRAs and Keogh plan accounts	$24,104
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,780,316
Cash & Balances due from depository institutions	$338,616
Interest-bearing balances	$297,186
Total securities	$220,406
Federal funds sold & reverse repurchase	$696
Net loans and leases	$1,110,484
Loan and leases loss allowance	$16,610
Trading account assets	$0
Bank premises and fixed assets	$25,876
Other real estate owned	$900
Goodwill and other intangibles	$18,336
All other assets	$65,002

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,780,316
Total Liabilities	$1,606,809
Total deposits	$1,465,943
Interest-bearing deposits	$885,143
Deposits held in domestic offices	$1,465,943
% insured (estimated)	$65
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$127,021
Subordinated debt	$0
All other liabilities	$13,845

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,110,484
Loan and leases loss allowance	$16,610
Total loans and leases (domestic)	$1,127,094
All real estate loans	$899,024
Real estate loans in domestic offices	$899,024
Construction and development loans	$115,896
Residential 1-4 family construction	$45,153
Other construction, all land development and other land	$70,743
Loans secured by nonfarm nonresidential properties	$416,204
Nonfarm nonresidential secured by owner-occupied properties	$210,990
Commercial real estate & other non-farm, non-residential	$205,214
Multifamily residential real estate	$128,406
1-4 family residential loans	$182,871
Farmland loans	$55,647
Loans held in foreign offices	$0
Farm loans	$8,984
Commercial and industrial loans	$210,991
To non-U.S. addressees	$0
Loans to individuals	$10,468
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$2,162
Other loans to individuals	$8,306
All other loans & leases	$821
Loans to foreign governments and official institutions	$0
Other loans	$821
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	$1,320
Non 1-4 family restructured loans & leases	$1,193
Total loans and leases (foreign)	$0

The First National Bank of Fort Smith had $1,110,484,000 of loans outstanding in 2020. $899,024,000 of loans were in real estate loans. $115,896,000 of loans were in development loans. $128,406,000 of loans were in multifamily mortgage loans. $182,871,000 of loans were in 1-4 family mortgage loans. $8,984,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,162,000 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	303	$69,446	$229,195
Nonfarm, nonresidential loans - <$100k	60	$2,595	$43,250
Nonfarm, nonresidential loans - $100-250k	89	$10,985	$123,427
Nonfarm, nonresidential loans - $250k-1MM	154	$55,866	$362,766
Commercial & Industrial, US addressed loans - <$1MM	1,401	$93,192	$66,518
Commercial & Industrial, US addressed loans - <$100k	1,040	$24,319	$23,384
Commercial & Industrial, US addressed loans - $100-250k	194	$21,921	$112,995
Commercial & Industrial, US addressed loans - $250k-1MM	167	$46,952	$281,150
Farmland loans - <$1MM	107	$11,854	$110,785
Farmland loans - <$100k	45	$1,666	$37,022
Farmland loans - $100-250k	37	$4,359	$117,811
Farmland loans - $250k-1MM	25	$5,829	$233,160
Agriculture operations loans - <$1MM	152	$6,188	$40,711
Agriculture operations loans - <$100k	120	$2,393	$19,942
Agriculture operations loans - $100-250k	24	$2,296	$95,667
Agriculture operations loans - $250k-1MM	8	$1,499	$187,375