First United Bank Mortgage Rates, Fees & Info
Dimmitt, TXLEI: 549300DDDXGC8OXLNZ36
Tax ID: 75-0270800
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Review & Overview
First United Bank is a smaller bank specializing in Home Purchase loans. First United Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Amarillo, Lubbock, Dallas, Durango, and Lamesa among others. We have data for 20 markets. (Some data included below & more in-depth data is available with an active subscription.)First United Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. First United Bank is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.77% | 4/21/24 |
| 30 Year Conventional Refi | 6.62% | 4/21/24 |
| 30 Year Cash-out Refi | 6.98% | 4/21/24 |
| 30 Year FHA Purchase | 7.41% | 4/21/24 |
| 30 Year FHA Refi | 6.27% | 4/21/24 |
| 30 Year VA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.33% | 4/21/24 |
| 15 Year Conventional Refi | 6.13% | 4/21/24 |
| 15 Year Cash-out Refi | 6.13% | 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. | ||
First United Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
387Origination Dollar Volume (All Markets)
$75,795,000Employee count
207Top 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 |
|---|---|---|---|---|---|
| AMARILLO, TX (FHA|USDA|VA) | 147 | $31,435,000 | $213,844 | $4,796 | 5.33% |
| LUBBOCK, TX (FHA|USDA|VA) | 161 | $31,255,000 | $194,130 | $4,807 | 5.16% |
| Outside of Metro Areas | 38 | $5,900,000 | $155,263 | $3,943 | 5.44% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 8 | $1,960,000 | $245,000 | $5,931 | 5.39% |
| Durango, CO (FHA|USDA|VA) | 1 | $815,000 | $815,000 | $7,634 | 5.75% |
| Lamesa, TX (FHA|USDA|VA) | 8 | $750,000 | $93,750 | $5,006 | 5.33% |
| Plainview, TX (FHA|USDA|VA) | 5 | $615,000 | $123,000 | $3,890 | 4.53% |
| Athens, TX (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $5,253 | 4.70% |
| ODESSA, TX (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $5,238 | 5.00% |
| Hobbs, NM (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $5,148 | 4.75% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,113 | 3.88% |
| Taos, NM (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,893 | 4.38% |
| Andrews, TX (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $4,802 | 4.75% |
| WICHITA FALLS, TX (FHA|USDA|VA) | 6 | $270,000 | $45,000 | $0 | 5.93% |
| Carlsbad-Artesia, NM (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,868 | 5.13% |
| Uvalde, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,871 | 4.63% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $7,362 | 4.88% |
| Newport, TN (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 5.75% |
| Clovis, NM (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.75% |
| Brownwood, TX (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 6.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against First United Bank 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
For 2018, First United Bank's most frequently originated type of loan was Conventional, with 315 originations. Their 2nd most popular type was FHA, with 61 originations.
Loan Reason
For 2018, First United Bank's most frequently cited loan purpose was Home Purchase, with 311 originations. The 2nd most popular reason was Refi, with 38 originations.
Loan Duration/Length
For 2018, First United Bank's most frequently cited loan duration was 30 Year, with 218 originations. The 2nd most popular length was 5 Year, with 66 originations.
Origination Fees/Closing Costs
First United Bank's average total fees were $4,913, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 246 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 191 | $44,935,000 | $235,262 |
| 5-6% | 127 | $19,905,000 | $156,732 |
| 6-7% | 56 | $8,560,000 | $152,857 |
| 3-4% | 10 | $2,070,000 | $207,000 |
| 7-8% | 3 | $325,000 | $108,333 |
During 2018, First United Bank's average interest rate for loans was 4.89%, while their most frequently originated rate bucket for loans was 4-5%, with 191 originations.
Loan Sizing
2018 saw First United Bank place emphasis on $100k-200k loans with 166 originations, totaling $24,210,000 in origination value.
Applicant Income
First United Bank lent most frequently to those with incomes in the $50k-75k range, with 66 originations. The second most popular income band? $50k or less, with 56 originations.
Applicant Debt to Income Ratio
First United Bank lent most frequently to those with DTI ratios of 30-36%, with 50 originations. The next most common DTI ratio? 20-30%, with 34 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.92%
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 origination90.70%
First United Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 387 | $75,795,000 | $195,853 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 1 | $125,000 | $125,000 |
| Single Family (1-4 Units):Site-Built | 386 | $75,670,000 | $196,036 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 3 | 21.4% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Problem with a credit reporting company's investigation into an existing problem | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 7.1% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 5 | 35.7% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First United Bank | 106 Main Seagraves, TX 79359 | Full Service B&M | $62,461 |
| First United Bank | 1900 Se 34th Street Suite 100 Amarillo, TX 79118 | Full Service B&M | $25,125 |
| First United Bank | 200 Main Street Sudan, TX 79371 | Full Service B&M | $37,356 |
| First United Bank | 2003 South Hall Avenue Littlefield, TX 79339 | Full Service B&M | $32,158 |
| 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 | $96,548 |
| First United Bank | 2904 Garnett Avenue Wichita Falls, TX 76308 | Full Service B&M | $19,862 |
| First United Bank | 5802 Fourth Street Lubbock, TX 79416 | Full Service B&M | $83,081 |
| First United Bank | 601 North First Street Lamesa, TX 79331 | Full Service B&M | $106,960 |
| First United Bank | 601 Nw Avenue B Seminole, TX 79360 | Full Service B&M | $124,612 |
| First United Bank | 6604 Frankford Avenue Lubbock, TX 79424 | Full Service B&M | $66,347 |
| First United Bank | 801 23rd Street Canyon, TX 79015 | Full Service Retail | $95,446 |
| First United Bank | 8th & Tyler Amarillo, TX 79101 | Full Service B&M | $39,190 |
| First United Bank | 9801 Indiana Avenue Lubbock, TX 79423 | Full Service B&M | $23,268 |
| First United Bank | Main And Cedar Earth, TX 79031 | Full Service B&M | $27,752 |
| First United Bank | One First United Bank Parkway Amarillo, TX 79119 | Full Service B&M | $185,266 |
For 2018, First United Bank had 16 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $56,607 |
| Net interest income | $46,753 |
| Total noninterest income | $8,286 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $2,813 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $5,473 |
| Pre-tax net operating income | $22,322 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $22,322 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $22,322 |
| Minority interest net income | $0 |
| Net income | $22,322 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $22,322 |
First United Bank's gross interest income from loans was $56,607,000.
First United Bank's net interest income from loans was $46,753,000.
First United Bank's fee based income from loans was $2,813,000.
First United Bank's net income from loans was $22,322,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $9,854 |
| Provision for credit losses | $900 |
| Total noninterest expense | $31,817 |
| Salaries and employee benefits | $18,442 |
| Premises and equipment expense | $5,194 |
| Additional noninterest expense | $8,181 |
| Applicable income taxes | $0 |
| Net charge-offs | $-203 |
| Cash dividends | $12,445 |
First United Bank's interest expense for loans was $9,854,000.
First United Bank's payroll and benefits expense were $18,442,000.
First United Bank's property, plant and equipment expenses $5,194,000.
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 | $1,108,104 |
| Deposits held in domestic offices | $1,108,104 |
| Deposits by Individuals, partnerships, and corporations | $914,208 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $193,897 |
| 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 | $103,809 |
| Demand deposits | $68,970 |
| Nontransaction accounts | $1,004,296 |
| Money market deposit accounts (MMDAs) | $227,688 |
| Other savings deposits (excluding MMDAs) | $489,718 |
| Total time deposits | $286,890 |
| Total time and savings deposits | $1,039,135 |
| Noninterest-bearing deposits | $327,583 |
| Interest-bearing deposits | $780,521 |
| Retail deposits | $988,962 |
| IRAs and Keogh plan accounts | $16,924 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,315,753 |
| Cash & Balances due from depository institutions | $31,264 |
| Interest-bearing balances | $176 |
| Total securities | $310,531 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $903,987 |
| Loan and leases loss allowance | $13,548 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $28,843 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $8,545 |
| All other assets | $32,583 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,315,753 |
| Total Liabilities | $1,181,206 |
| Total deposits | $1,108,104 |
| Interest-bearing deposits | $780,521 |
| Deposits held in domestic offices | $1,108,104 |
| % insured (estimated) | $60 |
| Federal funds purchased and repurchase agreements | $2,000 |
| Trading liabilities | $0 |
| Other borrowed funds | $60,091 |
| Subordinated debt | $0 |
| All other liabilities | $11,011 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $903,987 |
| Loan and leases loss allowance | $13,548 |
| Total loans and leases (domestic) | $917,535 |
| All real estate loans | $590,571 |
| Real estate loans in domestic offices | $590,571 |
| Construction and development loans | $96,425 |
| Residential 1-4 family construction | $14,142 |
| Other construction, all land development and other land | $82,283 |
| Loans secured by nonfarm nonresidential properties | $274,146 |
| Nonfarm nonresidential secured by owner-occupied properties | $95,352 |
| Commercial real estate & other non-farm, non-residential | $178,794 |
| Multifamily residential real estate | $25,162 |
| 1-4 family residential loans | $92,186 |
| Farmland loans | $102,652 |
| Loans held in foreign offices | $0 |
| Farm loans | $135,918 |
| Commercial and industrial loans | $178,253 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $7,123 |
| Credit card loans | $0 |
| Related Plans | $120 |
| Consumer Auto Loans | $4,075 |
| Other loans to individuals | $2,928 |
| All other loans & leases | $5,670 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $2,390 |
| 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 $903,987,000 of loans outstanding in 2018. $590,571,000 of loans were in real estate loans. $96,425,000 of loans were in development loans. $25,162,000 of loans were in multifamily mortgage loans. $92,186,000 of loans were in 1-4 family mortgage loans. $135,918,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,075,000 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 | 199 | $41,515 | $208,618 |
| Nonfarm, nonresidential loans - <$100k | 45 | $1,816 | $40,356 |
| Nonfarm, nonresidential loans - $100-250k | 66 | $7,901 | $119,712 |
| Nonfarm, nonresidential loans - $250k-1MM | 88 | $31,798 | $361,341 |
| Commercial & Industrial, US addressed loans - <$1MM | 715 | $51,170 | $71,566 |
| Commercial & Industrial, US addressed loans - <$100k | 483 | $10,621 | $21,990 |
| Commercial & Industrial, US addressed loans - $100-250k | 128 | $11,818 | $92,328 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 104 | $28,731 | $276,260 |
| Farmland loans - <$1MM | 129 | $16,625 | $128,876 |
| Farmland loans - <$100k | 45 | $1,786 | $39,689 |
| Farmland loans - $100-250k | 51 | $6,479 | $127,039 |
| Farmland loans - $250k-1MM | 33 | $8,360 | $253,333 |
| Agriculture operations loans - <$1MM | 269 | $18,359 | $68,249 |
| Agriculture operations loans - <$100k | 165 | $3,929 | $23,812 |
| Agriculture operations loans - $100-250k | 56 | $5,384 | $96,143 |
| Agriculture operations loans - $250k-1MM | 48 | $9,046 | $188,458 |