First Northern Bank And Trust Company Mortgage Rates, Fees & Info

Palmerton, PA

LEI: 549300E5GFWPFRJR4I76

Tax ID: 24-0579220

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Mortgage Data

Bank Data

Review & Overview

First Northern Bank And Trust Company is a smaller bank specializing in Cash Out Refi, Home Purchase, and Refi loans. First Northern Bank And Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Allentown, East Stroudsburg, Philadelphia, Scranton, and New York among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Northern Bank And Trust Company 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

272

Origination Dollar Volume (All Markets)

$48,970,000

Employee count

145

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
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 184 $32,480,000 $176,522 $0 0.00%
EAST STROUDSBURG, PA (FHA|USDA|VA) 72 $11,870,000 $164,861 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $2,380,000 $1,190,000 $0 0.00%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 4 $550,000 $137,500 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $440,000 $110,000 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
READING, PA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $300,000 $150,000 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
Outside of Metro Areas 1 $85,000 $85,000 $0 0.00%
First Northern Bank And Trust Company's top markets include Allentown, East Stroudsburg, Philadelphia, Scranton, and New York among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 272 $48,970,000 $180,037 $0 0.00%

    For 2020, First Northern Bank And Trust Company's most frequently originated type of loan was Conventional, with 272 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 83 $18,855,000 $227,169 $0 0.00%
    Home Purchase 78 $14,650,000 $187,821 $0 0.00%
    Refi 72 $13,330,000 $185,139 $0 0.00%
    Home Improvement 20 $1,170,000 $58,500 $0 0.00%
    Other 19 $965,000 $50,789 $0 0.00%

    For 2020, First Northern Bank And Trust Company's most frequently cited loan purpose was Cash Out Refi, with 83 originations. The 2nd most popular reason was Home Purchase, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 272 $48,970,000 $180,037 $0 0.00%

    For 2020, First Northern Bank And Trust Company's most frequently cited loan duration was Other, with 272 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 100 $14,370,000 $143,700 $0 0.00%
    $100,000 or less 81 $4,435,000 $54,753 $0 0.00%
    $200k-400k 78 $21,140,000 $271,026 $0 0.00%
    $400k-600k 8 $3,610,000 $451,250 $0 0.00%
    $600k-1MM 3 $2,055,000 $685,000 $0 0.00%
    $1MM+ 2 $3,360,000 $1,680,000 $0 0.00%

    2020 saw First Northern Bank And Trust Company place emphasis on $100k-200k loans with 100 originations, totaling $14,370,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 70 $12,830,000 $183,286 $0 0.00%
    $75k-100k 53 $8,495,000 $160,283 $0 0.00%
    $50k-75k 49 $5,985,000 $122,143 $0 0.00%
    $50k or less 36 $3,140,000 $87,222 $0 0.00%
    $150k-250k 29 $6,715,000 $231,552 $0 0.00%
    $250k+ 16 $4,610,000 $288,125 $0 0.00%

    First Northern Bank And Trust Company lent most frequently to those with incomes in the $100k-150k range, with 70 originations. The second most popular income band? $75k-100k, with 53 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 272 $48,970,000 $180,037 $0 0.00%

    First Northern Bank And Trust Company lent most frequently to those with DTI ratios of Exempt%, with 272 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 253 $42,185,000 $166,739 $0 0.00%
    Not applicable 15 $6,425,000 $428,333 $0 0.00%
    Not provided 2 $190,000 $95,000 $0 0.00%
    Black 1 $105,000 $105,000 $0 0.00%
    Asian 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.09%

    First Northern Bank And Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.34%

    First Northern Bank And Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 272 $48,970,000 $180,037

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $4,475,000 $895,000
    Single Family (1-4 Units):Manufactured 4 $410,000 $102,500
    Single Family (1-4 Units):Site-Built 263 $44,085,000 $167,624

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Other type of mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 2 13.3%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 3 20.0%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 6.7%
    FIRST HORIZON BANK Other type of mortgage Closing on a mortgage 2 13.3%
    FIRST HORIZON BANK Conventional home mortgage Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 4 26.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Northern Bank and Trust Company 101 Park Avenue Stroudsburg, PA 18360 Full Service B&M $11,654
    First Northern Bank and Trust Company 1256 Route 209 Gilbert, PA 18331 Full Service B&M $97,131
    First Northern Bank and Trust Company 2 Nor Bath Blvd Northampton, PA 18067 Full Service B&M $52,469
    First Northern Bank and Trust Company 2228 Old Post Road Suite E Coplay, PA 18037 Full Service B&M $32,981
    First Northern Bank and Trust Company 3005 Pennsylvania 611 Tannersville, PA 18372 Full Service B&M $53,850
    First Northern Bank and Trust Company 342 Route 940 Blakeslee, PA 18610 Full Service B&M $47,312
    First Northern Bank and Trust Company 383 South Walnut Street Bath, PA 18014 Full Service B&M $43,902
    First Northern Bank and Trust Company 6663 Sullivan Trail, Plainfield Township Wind Gap, PA 18091 Full Service B&M $21,380
    First Northern Bank and Trust Company Fourth Street And Lafayette Avenue Palmerton, PA 18071 Full Service B&M $188,925
    First Northern Bank and Trust Company Route 209 Sciota, PA 18354 Full Service B&M $62,857
    First Northern Bank and Trust Company Route 611 Mount Bethel, PA 18343 Full Service B&M $47,371

    For 2020, First Northern Bank And Trust Company had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $30,119
    Net interest income $27,290
    Total noninterest income $2,264
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $594
    Trading account gains and fees $0
    Additional Noninterest Income $1,670
    Pre-tax net operating income $7,641
    Securities gains (or losses, -) $-5
    Income before extraordinary items $6,260
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,260
    Minority interest net income $0
    Net income $6,260
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,264

    First Northern Bank And Trust Company's gross interest income from loans was $30,119,000.
    First Northern Bank And Trust Company's net interest income from loans was $27,290,000.
    First Northern Bank And Trust Company's fee based income from loans was $594,000.
    First Northern Bank And Trust Company's net income from loans was $6,260,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,829
    Provision for credit losses $1,595
    Total noninterest expense $20,318
    Salaries and employee benefits $11,254
    Premises and equipment expense $4,000
    Additional noninterest expense $5,064
    Applicable income taxes $1,376
    Net charge-offs $-104
    Cash dividends $2,610

    First Northern Bank And Trust Company's interest expense for loans was $2,829,000.
    First Northern Bank And Trust Company's payroll and benefits expense were $11,254,000.
    First Northern Bank And Trust Company's property, plant and equipment expenses $4,000,000.

    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 1.0%
    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 $689,660
    Deposits held in domestic offices $689,660
    Deposits by Individuals, partnerships, and corporations $606,175
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $83,485
    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 $51,454
    Demand deposits $41,605
    Nontransaction accounts $638,206
    Money market deposit accounts (MMDAs) $25,648
    Other savings deposits (excluding MMDAs) $459,005
    Total time deposits $153,553
    Total time and savings deposits $648,055
    Noninterest-bearing deposits $215,288
    Interest-bearing deposits $474,372
    Retail deposits $672,478
    IRAs and Keogh plan accounts $42,794
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $831,388
    Cash & Balances due from depository institutions $94,353
    Interest-bearing balances $86,024
    Total securities $128,257
    Federal funds sold & reverse repurchase $0
    Net loans and leases $586,300
    Loan and leases loss allowance $7,254
    Trading account assets $0
    Bank premises and fixed assets $2,793
    Other real estate owned $3,648
    Goodwill and other intangibles $0
    All other assets $16,037

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $831,388
    Total Liabilities $720,842
    Total deposits $689,660
    Interest-bearing deposits $474,372
    Deposits held in domestic offices $689,660
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $29,010
    Subordinated debt $0
    All other liabilities $2,172

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $586,300
    Loan and leases loss allowance $7,254
    Total loans and leases (domestic) $593,554
    All real estate loans $513,539
    Real estate loans in domestic offices $513,539
    Construction and development loans $45,037
    Residential 1-4 family construction $5,363
    Other construction, all land development and other land $39,674
    Loans secured by nonfarm nonresidential properties $222,351
    Nonfarm nonresidential secured by owner-occupied properties $78,379
    Commercial real estate & other non-farm, non-residential $143,972
    Multifamily residential real estate $22,900
    1-4 family residential loans $223,251
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $70,409
    To non-U.S. addressees $0
    Loans to individuals $3,165
    Credit card loans $0
    Related Plans $8
    Consumer Auto Loans $929
    Other loans to individuals $2,228
    All other loans & leases $6,441
    Loans to foreign governments and official institutions $0
    Other loans $75
    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 Northern Bank and Trust Company had $586,300,000 of loans outstanding in 2020. $513,539,000 of loans were in real estate loans. $45,037,000 of loans were in development loans. $22,900,000 of loans were in multifamily mortgage loans. $223,251,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $929,000 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 203 $46,098 $227,084
    Nonfarm, nonresidential loans - <$100k 36 $801 $22,250
    Nonfarm, nonresidential loans - $100-250k 67 $8,183 $122,134
    Nonfarm, nonresidential loans - $250k-1MM 100 $37,114 $371,140
    Commercial & Industrial, US addressed loans - <$1MM 398 $28,073 $70,535
    Commercial & Industrial, US addressed loans - <$100k 295 $7,808 $26,468
    Commercial & Industrial, US addressed loans - $100-250k 70 $9,082 $129,743
    Commercial & Industrial, US addressed loans - $250k-1MM 33 $11,183 $338,879