First United Bank Mortgage Rates, Fees & Info

Dimmitt, TX

LEI: 549300DDDXGC8OXLNZ36

Tax ID: 75-0270800

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First United Bank is a smaller bank specializing in Home Purchase and Refi loans. First United Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include Amarillo, Lubbock, Wichita Falls, Dallas, and Houston among others. First United Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First United Bank is typically an average fee lendor.


Originations

675

Origination Dollar Volume (All Markets)

$158,915,000

Employee count

241 Show all (6) awards

Relative Rate

First United Bank's average 30 year fixed rate mortgage of loans were 3.04%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.11%.

Relative Fees

First United Bank's average total fees for a 30 year fixed rate mortgage are $4,985.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
AMARILLO, TX (FHA|USDA|VA) 223 $57,695,000 $258,722 $4,981 3.10%
LUBBOCK, TX (FHA|USDA|VA) 246 $50,550,000 $205,488 $4,466 3.43%
Outside of Metro Areas 84 $17,930,000 $213,452 $4,748 3.34%
WICHITA FALLS, TX (FHA|USDA|VA) 42 $8,400,000 $200,000 $4,785 3.74%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 20 $3,850,000 $192,500 $4,257 3.90%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 8 $2,650,000 $331,250 $6,340 2.80%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $2,640,000 $1,320,000 $13,083 4.63%
Mineral Wells, TX (FHA|USDA|VA) 3 $2,505,000 $835,000 $0 4.58%
MIDLAND, TX (FHA|USDA|VA) 3 $1,835,000 $611,667 $7,653 3.12%
Lamesa, TX (FHA|USDA|VA) 7 $955,000 $136,429 $4,766 3.45%
ABILENE, TX (FHA|USDA|VA) 4 $820,000 $205,000 $3,930 3.41%
Plainview, TX (FHA|USDA|VA) 3 $775,000 $258,333 $4,619 3.60%
Ruidoso, NM (FHA|USDA|VA) 2 $730,000 $365,000 $4,809 3.19%
Levelland, TX (FHA|USDA|VA) 4 $700,000 $175,000 $5,422 3.31%
Clovis, NM (FHA|USDA|VA) 2 $680,000 $340,000 $11,992 3.88%
Hereford, TX (FHA|USDA|VA) 3 $675,000 $225,000 $4,440 3.48%
Sulphur Springs, TX (FHA|USDA|VA) 1 $565,000 $565,000 $8,279 4.25%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $545,000 $545,000 $6,280 2.99%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $545,000 $545,000 $4,350 2.50%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $445,000 $445,000 $3,771 2.88%
Andrews, TX (FHA|USDA|VA) 1 $375,000 $375,000 $5,582 2.63%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $345,000 $345,000 $5,333 3.13%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $345,000 $345,000 $3,886 2.99%
Borger, TX (FHA|USDA|VA) 1 $335,000 $335,000 $7,732 2.38%
Stephenville, TX (FHA|USDA|VA) 1 $325,000 $325,000 $5,770 2.75%
Vernon, TX (FHA|USDA|VA) 1 $245,000 $245,000 $4,385 2.99%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $235,000 $235,000 $2,983 2.25%
LAWTON, OK (FHA|USDA|VA) 1 $225,000 $225,000 $0 4.75%
Big Spring, TX (FHA|USDA|VA) 1 $205,000 $205,000 $7,756 2.45%
MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $195,000 $195,000 $3,358 2.88%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $175,000 $175,000 $3,611 3.88%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $135,000 $135,000 $2,771 4.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.25%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $85,000 $85,000 $2,471 2.50%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $75,000 $75,000 $3,351 2.50%

First United Bank's top markets include Amarillo, Lubbock, Wichita Falls, Dallas, and Houston among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 602 $143,450,000 $238,289 $4,310 3.40%
FHA 58 $11,270,000 $194,310 $7,402 2.81%
VA 15 $4,195,000 $279,667 $9,789 2.59%

For the 2021 period, First United Bank's most frequently originated loan type of loans were Conventional, with 602 originations. Their 2nd most popular type is FHA, with 58 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 418 $99,110,000 $237,105 $5,279 3.50%
Refi 168 $36,630,000 $218,036 $3,746 3.02%
Cash Out Refi 83 $21,515,000 $259,217 $4,912 3.06%
Home Improvement 6 $1,660,000 $276,667 $4,720 4.25%

For the 2021, First United Bank's most frequently cited loan purpose of loans were Home Purchase, with 418 originations. The 2nd most popular reason of loans were Refi, with 168 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 407 $97,045,000 $238,440 $4,985 3.04%
15 Year 86 $17,220,000 $200,233 $3,747 2.78%
5 Year 78 $14,400,000 $184,615 $0 4.84%
Other 36 $9,510,000 $264,167 $8,442 4.50%
20 Year 36 $9,170,000 $254,722 $4,662 3.09%
1 Year 15 $3,545,000 $236,333 $4,763 4.63%
10 Year 10 $1,580,000 $158,000 $3,619 2.49%
3 Year 7 $6,445,000 $920,714 $5,762 4.50%

For the 2021, First United Bank's most frequently cited loan length of loans were 30 Year, with 407 originations. The 2nd most popular length of loans were 15 Year, with 86 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 307 $73,535,000 $239,528
$1k-2k 177 $37,385,000 $211,215
$2k-3k 33 $7,195,000 $218,030
$3k-4k 12 $6,480,000 $540,000
$5k+ 8 $5,180,000 $647,500

$4,985 of loans were First United Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 307 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 243 $58,555,000 $240,967
3-4% 164 $41,000,000 $250,000
4-5% 127 $30,535,000 $240,433
<2.5% 108 $25,260,000 $233,889
5-6% 30 $3,460,000 $115,333
6-7% 3 $105,000 $35,000

During 2021, First United Bank's average interest rate of loans were 3.04%, while their most frequently originated rate bucket of loans were 2.5-3%, with 243 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 248 $36,740,000 $148,145 $4,016 3.34%
$200k-400k 236 $65,340,000 $276,864 $5,214 3.02%
$100,000 or less 112 $7,660,000 $68,393 $3,348 4.02%
$400k-600k 60 $28,540,000 $475,667 $5,765 3.09%
$600k-1MM 11 $7,935,000 $721,364 $11,532 3.98%
$1MM+ 8 $12,700,000 $1,587,500 $16,603 4.03%

2021 saw First United Bank place emphasis on $100k-200k loans with 248 originations, totaling $36,740,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 137 $34,085,000 $248,796 $5,035 3.09%
$50k-75k 112 $18,870,000 $168,482 $4,618 3.07%
$150k-250k 106 $28,820,000 $271,887 $4,849 3.16%
$75k-100k 98 $21,110,000 $215,408 $4,587 2.89%
$50k or less 62 $8,320,000 $134,194 $4,027 3.25%
$250k+ 61 $26,045,000 $426,967 $5,648 3.25%

First United Bank lent most frequently to those with incomes in the $100k-150k range, with 137 originations. The second most popular income band? $50k-75k, with 112 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 118 $25,190,000 $213,475 $4,324 2.95%
30-36% 100 $25,750,000 $257,500 $4,921 2.96%
<20% 48 $13,610,000 $283,542 $4,422 2.95%
43% 26 $6,250,000 $240,385 $3,920 3.06%
49% 22 $6,210,000 $282,273 $5,234 2.83%
44% 22 $6,220,000 $282,727 $4,934 2.89%
41% 22 $5,080,000 $230,909 $4,592 2.99%
39% 20 $4,410,000 $220,500 $5,315 3.02%
37% 19 $4,655,000 $245,000 $4,957 3.11%
50-60% 19 $3,615,000 $190,263 $7,256 2.83%
36% 19 $4,325,000 $227,632 $4,110 2.93%
40% 17 $4,485,000 $263,824 $4,285 2.80%
48% 17 $4,835,000 $284,412 $6,822 2.92%
46% 17 $3,255,000 $191,471 $4,935 2.99%
38% 16 $3,070,000 $191,875 $3,791 2.88%
42% 12 $2,700,000 $225,000 $5,300 3.02%
45% 11 $3,095,000 $281,364 $5,213 3.10%
47% 10 $2,580,000 $258,000 $5,786 3.00%
>60% 1 $225,000 $225,000 $2,607 5.00%

First United Bank lent most frequently to those with DTI ratios of 20-30%, with 118 originations. The next most common DTI ratio? 30-36%, with 100 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 534 $124,790,000 $233,689 $4,717 3.13%
Not applicable 90 $20,030,000 $222,556 $0 4.69%
Asian 12 $5,240,000 $436,667 $8,425 3.10%
Not provided 21 $5,095,000 $242,619 $5,162 3.14%
Black 8 $1,890,000 $236,250 $4,577 3.11%
American Indian 9 $1,785,000 $198,333 $4,658 3.03%
Native Hawaiian 1 $85,000 $85,000 $2,976 2.88%

Approval Rates

Total approvals of all applications
96.45%

First United 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 origination
88.94%

First United Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 675 $158,915,000 $235,430

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
675 $158,915,000 $235,430

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 29 $3,135,000 $108,103 $3,371 3.63%
40-60% 72 $11,330,000 $157,361 $3,941 3.36%
60-80% 306 $76,910,000 $251,340 $4,338 3.49%
80-100% 255 $62,895,000 $246,647 $5,431 3.08%
Over 100% 3 $915,000 $305,000 $14,672 2.53%
Under 20% 9 $575,000 $63,889 $3,218 4.47%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST UNITED BANK AND TRUST COMPANY Conventional home mortgage Closing on a mortgage 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
First United Bank 106 Main Seagraves, TX 79359 Full Service B&M $78,904
First United Bank 6604 Frankford Avenue Lubbock, TX 79424 Full Service B&M $75,474
First United Bank 801 23rd Street Canyon, TX 79015 Full Service Retail $130,720
First United Bank 9801 Indiana Avenue Lubbock, TX 79423 Full Service B&M $55,684
First United Bank Main And Cedar Earth, TX 79031 Full Service B&M $42,095
First United Bank One First United Bank Parkway Amarillo, TX 79119 Full Service B&M $273,701
First United Bank 1900 Se 34th Street Suite 100 Amarillo, TX 79118 Full Service B&M $60,018
First United Bank 200 Main Street Sudan, TX 79371 Full Service B&M $51,214
First United Bank 2003 South Hall Avenue Littlefield, TX 79339 Full Service B&M $37,741
First United Bank 201 North Broadway Dimmitt, TX 79027 Limited, Drive-thru $0
First United Bank 201 North Broadway Dimmitt, TX 79027 Full Service B&M $89,796
First United Bank 2904 Garnett Avenue Wichita Falls, TX 76308 Full Service B&M $43,245
First United Bank 5802 Fourth Street Lubbock, TX 79416 Full Service B&M $118,742
First United Bank 601 North First Street Lamesa, TX 79331 Full Service B&M $151,483
First United Bank 601 Nw Avenue B Seminole, TX 79360 Full Service B&M $206,940

For 2021, First United Bank had 15 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $78,645
Net interest income $74,006
Total noninterest income $12,267
Gross Fiduciary activities income $0
Service charges on deposit accounts $2,995
Trading account gains and fees $0
Additional Noninterest Income $9,272
Pre-tax net operating income $47,099
Securities gains (or losses, -) $-213
Income before extraordinary items $46,886
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $46,886
Minority interest net income $0
Net income $46,886
Sale, conversion, retirement of capital stock, net $0
Net operating income $47,099

First United Bank's gross interest income from loans was $78,645,000.
First United Bank's net interest income from loans was $74,006,000.
First United Bank's fee based income from loans was $2,995,000.
First United Bank's net income from loans was $46,886,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $4,639
Provision for credit losses $600
Total noninterest expense $38,574
Salaries and employee benefits $22,215
Premises and equipment expense $5,783
Additional noninterest expense $10,576
Applicable income taxes $0
Net charge-offs $-771
Cash dividends $38,959

First United Bank's interest expense for loans was $4,639,000.
First United Bank's payroll and benefits expense were $22,215,000.
First United Bank's property, plant and equipment expenses $5,783,000.

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 1.0%
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 $1,805,598
Deposits held in domestic offices $1,805,598
Deposits by Individuals, partnerships, and corporations $1,359,620
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $445,979
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 $192,207
Demand deposits $102,416
Nontransaction accounts $1,613,392
Money market deposit accounts (MMDAs) $318,457
Other savings deposits (excluding MMDAs) $889,661
Total time deposits $405,273
Total time and savings deposits $1,703,183
Noninterest-bearing deposits $557,895
Interest-bearing deposits $1,247,703
Retail deposits $1,597,484
IRAs and Keogh plan accounts $19,654
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,006,835
Cash & Balances due from depository institutions $68,813
Interest-bearing balances $10,114
Total securities $752,764
Federal funds sold & reverse repurchase $12,500
Net loans and leases $1,095,186
Loan and leases loss allowance $17,005
Trading account assets $0
Bank premises and fixed assets $29,405
Other real estate owned $0
Goodwill and other intangibles $14,863
All other assets $33,304

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,006,835
Total Liabilities $1,817,657
Total deposits $1,805,598
Interest-bearing deposits $1,247,703
Deposits held in domestic offices $1,805,598
% insured (estimated) $54
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $60
Subordinated debt $0
All other liabilities $11,999

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,095,186
Loan and leases loss allowance $17,005
Total loans and leases (domestic) $1,112,191
All real estate loans $770,288
Real estate loans in domestic offices $770,288
Construction and development loans $115,548
Residential 1-4 family construction $28,702
Other construction, all land development and other land $86,846
Loans secured by nonfarm nonresidential properties $372,314
Nonfarm nonresidential secured by owner-occupied properties $144,397
Commercial real estate & other non-farm, non-residential $227,917
Multifamily residential real estate $34,524
1-4 family residential loans $107,099
Farmland loans $140,803
Loans held in foreign offices $0
Farm loans $102,744
Commercial and industrial loans $219,473
To non-U.S. addressees $0
Loans to individuals $10,706
Credit card loans $0
Related Plans $67
Consumer Auto Loans $6,507
Other loans to individuals $4,132
All other loans & leases $8,980
Loans to foreign governments and official institutions $0
Other loans $551
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 $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

First United Bank had $1,095,186,000 of loans outstanding in 2021. $770,288,000 of loans were in real estate loans. $115,548,000 of loans were in development loans. $34,524,000 of loans were in multifamily mortgage loans. $107,099,000 of loans were in 1-4 family mortgage loans. $102,744,000 of loans were in farm loans. $0 of loans were in credit card loans. $6,507,000 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 259 $57,818 $223,236
Nonfarm, nonresidential loans - <$100k 65 $2,639 $40,600
Nonfarm, nonresidential loans - $100-250k 71 $8,324 $117,239
Nonfarm, nonresidential loans - $250k-1MM 123 $46,855 $380,935
Commercial & Industrial, US addressed loans - <$1MM 1,023 $63,880 $62,444
Commercial & Industrial, US addressed loans - <$100k 766 $15,529 $20,273
Commercial & Industrial, US addressed loans - $100-250k 131 $12,457 $95,092
Commercial & Industrial, US addressed loans - $250k-1MM 126 $35,894 $284,873
Farmland loans - <$1MM 161 $24,334 $151,143
Farmland loans - <$100k 56 $2,390 $42,679
Farmland loans - $100-250k 55 $6,454 $117,345
Farmland loans - $250k-1MM 50 $15,490 $309,800
Agriculture operations loans - <$1MM 319 $21,524 $67,473
Agriculture operations loans - <$100k 193 $4,355 $22,565
Agriculture operations loans - $100-250k 71 $6,646 $93,606
Agriculture operations loans - $250k-1MM 55 $10,523 $191,327