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 Refi, Home Purchase, and Cash Out Refi loans. First County Bank has a high proportion of conventional loans. First County Bank has an average proportion of conventional loans. Their top markets by origination volume include: Bridgeport, New Haven, New York, Torrington, and Hartford 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 12/16/24 |
| 30 Year Cash-out Refi | 6.27% | 12/16/24 |
| 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. | ||
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Originations
428Origination Dollar Volume (All Markets)
$247,400,000Employee count
212Top 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) | 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% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 409 | $210,165,000 | $513,851 | $0 | 0.00% |
| Conventional | 19 | $37,235,000 | $1,959,737 | $0 | 3.92% |
For 2021, First County Bank's most frequently originated type of loan was Conventional, with 409 originations. Their 2nd most popular type was Conventional, with 19 originations.
Loan Reason
For 2021, First County Bank's most frequently cited loan purpose was Refi, with 160 originations. The 2nd most popular reason was 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 2021, First County Bank's most frequently cited loan duration was Other, with 427 originations. The 2nd most popular length was 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 for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 17 originations.
Loan Sizing
2021 saw First County Bank place emphasis on $200k-400k loans with 138 originations, totaling $40,890,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications90.48%
First County Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.92%
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 |
LTV Distribution
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 | 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 |
| 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 |
For 2021, First County Bank had 17 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $61,486 |
| Net interest income | $52,852 |
| Total noninterest income | $8,095 |
| Gross Fiduciary activities income | $2,984 |
| Service charges on deposit accounts | $2,298 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,813 |
| Pre-tax net operating income | $12,727 |
| Securities gains (or losses, -) | $1,979 |
| Income before extraordinary items | $12,164 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $12,164 |
| Minority interest net income | $0 |
| Net income | $12,164 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $10,521 |
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.
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 | 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 | $1,591,977 |
| 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 |