First County Bank Mortgage Rates, Fees & Info
Stamford, CTLEI: 549300HQW3FSOL75WC88
Tax ID: 06-0547190
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Mortgage Data
Bank Data
Review & Overview
First County Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. First County Bank has a high proportion of conventional loans. First County Bank has a low ratio of conventional loans. Their top markets by origination volume include: Bridgeport, New Haven, Hartford, New York, and Torrington among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)First County Bank has an 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 4/21/24 |
| 30 Year Cash-out Refi | 6.27% | 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 County Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
356Origination Dollar Volume (All Markets)
$179,440,000Employee count
221Top 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 |
|---|---|---|---|---|---|
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 322 | $163,190,000 | $506,801 | $0 | 3.90% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 27 | $12,545,000 | $464,630 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 5 | $2,065,000 | $413,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $0 | 0.00% |
| Torrington, CT (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 355 | $173,935,000 | $489,958 | $0 | 0.00% |
| Conventional | 1 | $5,505,000 | $5,505,000 | $0 | 3.90% |
For 2020, First County Bank's most frequently originated type of loan was Conventional, with 355 originations. Their 2nd most popular type was Conventional, with 1 originations.
Loan Reason
For 2020, First County Bank's most frequently cited loan purpose was Home Purchase, with 139 originations. The 2nd most popular reason was Refi, with 128 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 356 | $179,440,000 | $504,045 | $0 | 3.90% |
For 2020, First County Bank's most frequently cited loan duration was Other, with 356 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 1 | $5,505,000 | $5,505,000 |
During 2020, First County Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 1 originations.
Loan Sizing
2020 saw First County Bank place emphasis on $200k-400k loans with 137 originations, totaling $40,985,000 in origination value.
Applicant Income
First County Bank lent most frequently to those with incomes in the $150k-250k range, with 112 originations. The second most popular income band? $250k+, with 92 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 355 | $173,935,000 | $489,958 | $0 | 0.00% |
First County Bank lent most frequently to those with DTI ratios of Exempt%, with 355 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.98%
First County Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.30%
First County Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 355 | $173,935,000 | $489,958 |
| NA | 1 | $5,505,000 | $5,505,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 11 | $17,955,000 | $1,632,273 |
| Single Family (1-4 Units):Site-Built | 345 | $161,485,000 | $468,072 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | Other type of mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Closing on a mortgage | 2 | 13.3% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 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 | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First County Bank | 1042 High Ridge Road Stamford, CT 6905 | Full Service B&M | $156,803 |
| First County Bank | 1110 Hope Street Stamford, CT 6907 | Full Service B&M | $112,300 |
| First County Bank | 1006 Post Road Darien, CT 6820 | Full Service B&M | $96,099 |
| First County Bank | 1135 Post Road East Westport, CT 6880 | Full Service B&M | $67,895 |
| First County Bank | 117 Prospect Street Stamford, CT 6901 | Full Service B&M | $167,304 |
| First County Bank | 1312 Post Road Fairfield, CT 6824 | Full Service B&M | $57,156 |
| First County Bank | 1980 West Main Street Stamford, CT 6902 | Full Service B&M | $90,907 |
| First County Bank | 275 Hope Street Stamford, CT 6904 | Full Service B&M | $83,492 |
| First County Bank | 2950 Summer Street Stamford, CT 6905 | Full Service B&M | $134,273 |
| First County Bank | 411 High Ridge Rd Stamford, CT 6905 | Limited, Mobile/Seasonal Office | $409 |
| First County Bank | 469 Westport Avenue Norwalk, CT 6851 | Full Service B&M | $67,696 |
| First County Bank | 48 Atlantic Street Stamford, CT 6901 | Full Service B&M | $51,553 |
| First County Bank | 59 Mason Street Greenwich, CT 6830 | Full Service B&M | $102,093 |
| First County Bank | 637 Shippan Avenue Stamford, CT 6902 | Full Service B&M | $74,432 |
| First County Bank | 660 Main Avenue Norwalk, CT 6851 | Full Service B&M | $40,532 |
| First County Bank | 700 Connecticut Avenue Norwalk, CT 6854 | Full Service B&M | $38,610 |
| First County Bank | 95 Park Street New Canaan, CT 6840 | Full Service B&M | $76,503 |
For 2020, First County Bank had 17 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $64,572 |
| Net interest income | $49,294 |
| Total noninterest income | $8,269 |
| Gross Fiduciary activities income | $2,806 |
| Service charges on deposit accounts | $1,393 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,070 |
| Pre-tax net operating income | $9,135 |
| Securities gains (or losses, -) | $-109 |
| Income before extraordinary items | $8,420 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $8,420 |
| Minority interest net income | $0 |
| Net income | $8,420 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $8,521 |
First County Bank's gross interest income from loans was $64,572,000.
First County Bank's net interest income from loans was $49,294,000.
First County Bank's fee based income from loans was $1,393,000.
First County Bank's net income from loans was $8,420,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $15,278 |
| Provision for credit losses | $4,288 |
| Total noninterest expense | $44,140 |
| Salaries and employee benefits | $27,668 |
| Premises and equipment expense | $7,065 |
| Additional noninterest expense | $9,407 |
| Applicable income taxes | $606 |
| Net charge-offs | $610 |
| Cash dividends | $0 |
First County Bank's interest expense for loans was $15,278,000.
First County Bank's payroll and benefits expense were $27,668,000.
First County Bank's property, plant and equipment expenses $7,065,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 15.0% |
| 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 | $1,548,273 |
| Deposits held in domestic offices | $1,548,273 |
| Deposits by Individuals, partnerships, and corporations | $1,543,977 |
| Deposits by U.S. Government | $1 |
| Deposits by States and political subdivisions in the U.S. | $3,377 |
| Deposits by Commercial banks and other depository institutions in U.S. | $918 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $111,489 |
| Demand deposits | $74,685 |
| Nontransaction accounts | $1,436,784 |
| Money market deposit accounts (MMDAs) | $364,069 |
| Other savings deposits (excluding MMDAs) | $619,057 |
| Total time deposits | $453,658 |
| Total time and savings deposits | $1,473,588 |
| Noninterest-bearing deposits | $394,004 |
| Interest-bearing deposits | $1,154,269 |
| Retail deposits | $1,351,050 |
| IRAs and Keogh plan accounts | $44,124 |
| Brokered deposits | $88,817 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,967,409 |
| Cash & Balances due from depository institutions | $247,444 |
| Interest-bearing balances | $239,858 |
| Total securities | $230,909 |
| Federal funds sold & reverse repurchase | $705 |
| Net loans and leases | $1,382,614 |
| Loan and leases loss allowance | $14,436 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $13,005 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $830 |
| All other assets | $91,902 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,967,409 |
| Total Liabilities | $1,806,214 |
| Total deposits | $1,548,273 |
| Interest-bearing deposits | $1,154,269 |
| Deposits held in domestic offices | $1,548,273 |
| % insured (estimated) | $76 |
| Federal funds purchased and repurchase agreements | $1,687 |
| Trading liabilities | $0 |
| Other borrowed funds | $217,228 |
| Subordinated debt | $0 |
| All other liabilities | $39,026 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,382,614 |
| Loan and leases loss allowance | $14,436 |
| Total loans and leases (domestic) | $1,397,050 |
| All real estate loans | $1,235,494 |
| Real estate loans in domestic offices | $1,235,494 |
| Construction and development loans | $57,243 |
| Residential 1-4 family construction | $16,888 |
| Other construction, all land development and other land | $40,355 |
| Loans secured by nonfarm nonresidential properties | $319,940 |
| Nonfarm nonresidential secured by owner-occupied properties | $134,458 |
| Commercial real estate & other non-farm, non-residential | $185,482 |
| Multifamily residential real estate | $27,532 |
| 1-4 family residential loans | $830,779 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $144,001 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $17,483 |
| Credit card loans | $0 |
| Related Plans | $4,110 |
| Consumer Auto Loans | $13,096 |
| Other loans to individuals | $277 |
| All other loans & leases | $71 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $71 |
| 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 | $11,947 |
| Non 1-4 family restructured loans & leases | $5,669 |
| Total loans and leases (foreign) | $0 |
First County Bank had $1,382,614,000 of loans outstanding in 2020. $1,235,494,000 of loans were in real estate loans. $57,243,000 of loans were in development loans. $27,532,000 of loans were in multifamily mortgage loans. $830,779,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $13,096,000 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 | 186 | $70,106 | $376,914 |
| Nonfarm, nonresidential loans - <$100k | 27 | $1,555 | $57,593 |
| Nonfarm, nonresidential loans - $100-250k | 44 | $7,463 | $169,614 |
| Nonfarm, nonresidential loans - $250k-1MM | 115 | $61,088 | $531,200 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,196 | $117,832 | $98,522 |
| Commercial & Industrial, US addressed loans - <$100k | 863 | $27,110 | $31,414 |
| Commercial & Industrial, US addressed loans - $100-250k | 187 | $29,150 | $155,882 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 146 | $61,572 | $421,726 |