First County Bank Mortgage Rates, Fees & Info
Stamford, CT
LEI: 549300HQW3FSOL75WC88
Tax ID: 06-0547190
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Mortgage Data
Bank Data
Overview
First County Bank is a
smaller
bank
specializing in
Refi, Home Purchase, and Cash Out Refi loans.
First County Bank has a high proportion of conventional loans.
Their top markets include Bridgeport, New Haven, New York, Torrington, and Hartford among others. First County Bank has
an average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Originations
428
Origination Dollar Volume (All Markets)
$247,400,000
Employee count
212
Top Markets
| Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
|
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA)
|
397
|
$233,555,000 |
$588,300 |
$0 |
3.92% |
|
NEW HAVEN-MILFORD, CT (FHA|USDA|VA)
|
23
|
$9,715,000 |
$422,391 |
$0 |
4.00% |
|
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)
|
3
|
$1,945,000 |
$648,333 |
$0 |
0.00% |
|
Torrington, CT (FHA|USDA|VA)
|
2
|
$1,100,000 |
$550,000 |
$0 |
0.00% |
|
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA)
|
3
|
$1,085,000 |
$361,667 |
$0 |
0.00% |
First County Bank's top markets include Bridgeport, New Haven, New York, Torrington, and Hartford among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
428 |
$247,400,000 |
$578,037 |
$0 |
3.92% |
For the 2021 period, First County Bank's most frequently
originated loan type
of loans were Conventional, with 428 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Refi |
160 |
$75,660,000 |
$472,875 |
$0 |
3.88% |
| Home Purchase |
152 |
$98,800,000 |
$650,000 |
$0 |
3.97% |
| Cash Out Refi |
106 |
$69,760,000 |
$658,113 |
$0 |
3.85% |
| Home Improvement |
8 |
$2,320,000 |
$290,000 |
$0 |
0.00% |
| Other |
2 |
$860,000 |
$430,000 |
$0 |
0.00% |
For the 2021, First County Bank's most frequently cited loan
purpose
of loans were Refi, with 160
originations.
The 2nd most popular reason of loans were Home Purchase,
with 152 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Other |
427 |
$246,825,000 |
$578,044 |
$0 |
3.92% |
| 15 Year |
1 |
$575,000 |
$575,000 |
$0 |
3.95% |
For the 2021, First County Bank's most frequently cited loan
length
of loans were Other, with 427 originations.
The 2nd most popular length of loans were 15 Year,
with 1 originations.
Interest Rates
| Loan Rate |
Originations |
Total Value |
Average Loan |
| 3-4% |
17 |
$29,695,000 |
$1,746,765 |
| 4-5% |
2 |
$7,540,000 |
$3,770,000 |
During 2021, First County Bank's average interest
rate of loans were 0.00%, while their
most frequently originated rate bucket of loans were 3-4%,
with 17 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $200k-400k |
138 |
$40,890,000 |
$296,304 |
$0 |
3.72% |
| $400k-600k |
112 |
$54,790,000 |
$489,196 |
$0 |
3.99% |
| $600k-1MM |
95 |
$70,705,000 |
$744,263 |
$0 |
4.00% |
| $100k-200k |
39 |
$6,085,000 |
$156,026 |
$0 |
0.00% |
| $1MM+ |
38 |
$74,510,000 |
$1,960,789 |
$0 |
3.95% |
| $100,000 or less |
6 |
$420,000 |
$70,000 |
$0 |
0.00% |
2021 saw First County Bank place emphasis on
$200k-400k loans
with 138 originations, totaling
$40,890,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $150k-250k |
123 |
$64,505,000 |
$524,431 |
$0 |
3.75% |
| $250k+ |
106 |
$77,850,000 |
$734,434 |
$0 |
0.00% |
| $100k-150k |
75 |
$29,035,000 |
$387,133 |
$0 |
5.00% |
| $75k-100k |
56 |
$16,370,000 |
$292,321 |
$0 |
0.00% |
| $50k-75k |
32 |
$7,940,000 |
$248,125 |
$0 |
0.00% |
| $50k or less |
8 |
$1,100,000 |
$137,500 |
$0 |
0.00% |
First County Bank lent most frequently to those with incomes in the
$150k-250k range, with
123 originations.
The second most popular income band? $250k+,
with 106 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Exempt% |
409 |
$210,165,000 |
$513,851 |
$0 |
0.00% |
First County Bank lent most frequently to those with DTI ratios
of Exempt%, with
409 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
329 |
$163,985,000 |
$498,435 |
$0 |
4.38% |
| Not applicable |
28 |
$50,600,000 |
$1,807,143 |
$0 |
3.87% |
| Not provided |
42 |
$21,140,000 |
$503,333 |
$0 |
0.00% |
| Asian |
21 |
$9,145,000 |
$435,476 |
$0 |
0.00% |
| Black |
8 |
$2,530,000 |
$316,250 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
89.20%
First County Bank has an average approval rate.
Pick Rate
Approvals leading to origination
86.42%
First County Bank has an average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| Exempt |
409 |
$210,165,000 |
$513,851 |
| NA |
19 |
$37,235,000 |
$1,959,737 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
428 |
$247,400,000 |
$578,037 |
LTV Distribution
| Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-40% |
3 |
$2,835,000 |
$945,000 |
$0 |
3.88% |
| 40-60% |
3 |
$3,795,000 |
$1,265,000 |
$0 |
3.87% |
| 60-80% |
12 |
$24,700,000 |
$2,058,333 |
$0 |
3.93% |
| 80-100% |
1 |
$5,905,000 |
$5,905,000 |
$0 |
4.11% |
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| FIRST HORIZON BANK |
Conventional home mortgage |
Trouble during payment process |
10 |
29.4% |
| FIRST HORIZON BANK |
Other type of mortgage |
Applying for a mortgage or refinancing an existing mortgage |
2 |
5.9% |
| FIRST HORIZON BANK |
Home equity loan or line of credit (HELOC) |
Trouble during payment process |
6 |
17.6% |
| FIRST HORIZON BANK |
Home equity loan or line of credit (HELOC) |
Struggling to pay mortgage |
1 |
2.9% |
| FIRST HORIZON BANK |
Home equity loan or line of credit (HELOC) |
Applying for a mortgage or refinancing an existing mortgage |
2 |
5.9% |
| FIRST HORIZON BANK |
FHA mortgage |
Trouble during payment process |
2 |
5.9% |
| FIRST HORIZON BANK |
FHA mortgage |
Closing on a mortgage |
1 |
2.9% |
| FIRST HORIZON BANK |
FHA mortgage |
Applying for a mortgage or refinancing an existing mortgage |
1 |
2.9% |
| FIRST HORIZON BANK |
Conventional home mortgage |
Applying for a mortgage or refinancing an existing mortgage |
2 |
5.9% |
| FIRST HORIZON BANK |
Conventional home mortgage |
Closing on a mortgage |
2 |
5.9% |
| FIRST HORIZON BANK |
Conventional home mortgage |
Struggling to pay mortgage |
1 |
2.9% |
| FIRST HORIZON BANK |
VA mortgage |
Applying for a mortgage or refinancing an existing mortgage |
1 |
2.9% |
| FIRST HORIZON BANK |
Other type of mortgage |
Trouble during payment process |
1 |
2.9% |
| FIRST HORIZON BANK |
Other type of mortgage |
Closing on a mortgage |
2 |
5.9% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| First County Bank |
1006 Post Road Darien, CT 6820 |
Full Service B&M
|
$120,479 |
| First County Bank |
1135 Post Road East Westport, CT 6880 |
Full Service B&M
|
$70,067 |
| First County Bank |
117 Prospect St Stamford, CT 6901 |
Full Service B&M
|
$164,959 |
| First County Bank |
1312 Post Road Fairfield, CT 6824 |
Full Service B&M
|
$66,181 |
| First County Bank |
1980 West Main Street Stamford, CT 6902 |
Full Service B&M
|
$118,008 |
| First County Bank |
275 Hope Street Stamford, CT 6904 |
Full Service B&M
|
$85,351 |
| First County Bank |
2950 Summer Street Stamford, CT 6905 |
Full Service B&M
|
$159,234 |
| First County Bank |
411 High Ridge Rd Stamford, CT 6905 |
Limited, Mobile/Seasonal Office
|
$385 |
| First County Bank |
469 Westport Avenue Norwalk, CT 6851 |
Full Service B&M
|
$79,159 |
| First County Bank |
48 Atlantic Street Stamford, CT 6901 |
Full Service B&M
|
$68,365 |
| First County Bank |
59 Mason Street Greenwich, CT 6830 |
Full Service B&M
|
$115,337 |
| First County Bank |
637 Shippan Avenue Stamford, CT 6902 |
Full Service B&M
|
$82,910 |
| First County Bank |
660 Main Avenue Norwalk, CT 6851 |
Full Service B&M
|
$51,061 |
| First County Bank |
700 Connecticut Avenue Norwalk, CT 6854 |
Full Service B&M
|
$43,978 |
| First County Bank |
95 Park Street New Canaan, CT 6840 |
Full Service B&M
|
$95,518 |
| First County Bank |
1042 High Ridge Road Stamford, CT 6905 |
Full Service B&M
|
$175,245 |
| First County Bank |
1110 Hope Street Stamford, CT 6907 |
Full Service B&M
|
$119,284 |
For 2021, First County Bank had 17 branches.
Yearly Performance Overview
Bank Income
First County Bank's gross interest income from loans was $61,486,000.
First County Bank's net interest income from loans was $52,852,000.
First County Bank's fee based income from loans was $2,298,000.
First County Bank's net income from loans was $12,164,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$8,634 |
| Provision for credit losses |
$323 |
| Total noninterest expense |
$47,897 |
| Salaries and employee benefits |
$30,005 |
| Premises and equipment expense |
$6,982 |
| Additional noninterest expense |
$10,910 |
| Applicable income taxes |
$2,542 |
| Net charge-offs |
$143 |
| Cash dividends |
$0 |
First County Bank's interest expense for loans was $8,634,000.
First County Bank's payroll and benefits expense were $30,005,000.
First County Bank's property, plant and equipment expenses $6,982,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$1,591,977 |
| Deposits held in domestic offices |
$1,591,977 |
| Deposits by Individuals, partnerships, and corporations |
$1,587,234 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$4,392 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$351 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$662,998 |
| Demand deposits |
$491,148 |
| Nontransaction accounts |
$928,979 |
| Money market deposit accounts (MMDAs) |
$395,735 |
| Other savings deposits (excluding MMDAs) |
$216,359 |
| Total time deposits |
$316,885 |
| Total time and savings deposits |
$1,100,829 |
| Noninterest-bearing deposits |
$456,093 |
| Interest-bearing deposits |
$1,135,884 |
| Retail deposits |
$1,483,643 |
| IRAs and Keogh plan accounts |
$32,088 |
| Brokered deposits |
$34,065 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$1,976,191 |
| Cash & Balances due from depository institutions |
$176,626 |
| Interest-bearing balances |
$169,881 |
| Total securities |
$438,081 |
| Federal funds sold & reverse repurchase |
$1,264 |
| Net loans and leases |
$1,243,171 |
| Loan and leases loss allowance |
$14,616 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$12,140 |
| Other real estate owned |
$1,466 |
| Goodwill and other intangibles |
$850 |
| All other assets |
$102,593 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$1,976,191 |
| Total Liabilities |
$1,799,619 |
| Total deposits |
$1,591,977 |
| Interest-bearing deposits |
$1,135,884 |
| Deposits held in domestic offices |
$1,591,977 |
| % insured (estimated) |
$72 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$165,378 |
| Subordinated debt |
$0 |
| All other liabilities |
$42,264 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$1,243,171 |
| Loan and leases loss allowance |
$14,616 |
| Total loans and leases (domestic) |
$1,257,787 |
| All real estate loans |
$1,143,403 |
| Real estate loans in domestic offices |
$1,143,403 |
| Construction and development loans |
$55,313 |
| Residential 1-4 family construction |
$23,491 |
| Other construction, all land development and other land |
$31,822 |
| Loans secured by nonfarm nonresidential properties |
$328,751 |
| Nonfarm nonresidential secured by owner-occupied properties |
$145,697 |
| Commercial real estate & other non-farm, non-residential |
$183,054 |
| Multifamily residential real estate |
$26,383 |
| 1-4 family residential loans |
$732,956 |
| Farmland loans |
$0 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$0 |
| Commercial and industrial loans |
$98,035 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$16,271 |
| Credit card loans |
$0 |
| Related Plans |
$3,682 |
| Consumer Auto Loans |
$12,423 |
| Other loans to individuals |
$166 |
| All other loans & leases |
$78 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$78 |
| 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 |
$10,419 |
| Non 1-4 family restructured loans & leases |
$4,622 |
| Total loans and leases (foreign) |
$0 |
First County Bank had $1,243,171,000 of loans outstanding in 2021. $1,143,403,000 of loans were in real estate loans.
$55,313,000 of loans were in development loans. $26,383,000 of loans were in multifamily mortgage loans.
$732,956,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $12,423,000 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 |
191 |
$76,790 |
$402,042 |
| Nonfarm, nonresidential loans - <$100k |
26 |
$1,613 |
$62,038 |
| Nonfarm, nonresidential loans - $100-250k |
41 |
$7,267 |
$177,244 |
| Nonfarm, nonresidential loans - $250k-1MM |
124 |
$67,910 |
$547,661 |
| Commercial & Industrial, US addressed loans - <$1MM |
369 |
$54,387 |
$147,390 |
| Commercial & Industrial, US addressed loans - <$100k |
208 |
$7,649 |
$36,774 |
| Commercial & Industrial, US addressed loans - $100-250k |
77 |
$11,561 |
$150,143 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
84 |
$35,177 |
$418,774 |
