First Bank & Trust Mortgage Rates, Fees & Info

Lubbock, TX

LEI: 549300JS5JD63G4G8809

Tax ID: 75-0264392

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    First Bank & Trust is a smaller bank specializing in Home Purchase loans. First Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Lubbock, Austin, Big Spring, Dallas, and Levelland among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Bank & Trust 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 Bank & Trust 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.84% 11/21/24
    30 Year Conventional Refi 6.65% 11/21/24
    30 Year Cash-out Refi 6.84% 11/21/24
    30 Year FHA Purchase 7.69% 11/21/24
    30 Year FHA Refi 7.36% 11/21/24
    30 Year VA Purchase 6.46% 11/21/24
    30 Year VA Refi 6.15% 11/21/24
    30 Year USDA Purchase 7.18% 11/21/24
    15 Year Conventional Purchase 6.39% 11/21/24
    15 Year Conventional Refi 6.10% 11/21/24
    15 Year Cash-out Refi 6.10% 11/21/24
    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 Bank & Trust Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First Bank & Trust. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    141

    Origination Dollar Volume (All Markets)

    $44,475,000

    Employee count

    170

    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
    LUBBOCK, TX (FHA|USDA|VA) 100 $36,450,000 $364,500 $4,232 6.16%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $2,805,000 $2,805,000 $25,979 4.50%
    Outside of Metro Areas 8 $2,070,000 $258,750 $5,792 5.52%
    Big Spring, TX (FHA|USDA|VA) 15 $905,000 $60,333 $0 6.47%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 4 $790,000 $197,500 $3,871 6.13%
    Levelland, TX (FHA|USDA|VA) 5 $695,000 $139,000 $0 6.30%
    Snyder, TX (FHA|USDA|VA) 5 $375,000 $75,000 $0 6.35%
    Sweetwater, TX (FHA|USDA|VA) 1 $255,000 $255,000 $6,005 7.25%
    ABILENE, TX (FHA|USDA|VA) 1 $85,000 $85,000 $0 6.50%
    Plainview, TX (FHA|USDA|VA) 1 $45,000 $45,000 $0 6.00%
    First Bank & Trust's top markets include Lubbock, Austin, Big Spring, Dallas, and Levelland among others.

    Their top states include:
  • Texas (FHA|USDA|VA)
  • (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against First Bank & Trust based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Rock Valley Credit Union
    Similarity Rank: 14
    First Community Credit Union
    Similarity Rank: 40
    SANDIA LABORATORY
    Similarity Rank: 60
    TEXOMA COMMUNITY CREDIT UNION
    Similarity Rank: 65
    Merchants Bank
    Similarity Rank: 150
    My Community Credit Union
    Similarity Rank: 168
    FIRST NORTHERN Credit Union
    Similarity Rank: 200
    The First National Bank and Trust Company
    Similarity Rank: 252
    Enterprise Bank & Trust
    Similarity Rank: 253
    RIO GRANDE
    Similarity Rank: 264

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 141 $44,475,000 $315,426 $4,944 6.17%

    For 2019, First Bank & Trust's most frequently originated type of loan was Conventional, with 141 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 108 $37,090,000 $343,426 $5,343 6.13%
    Home Improvement 18 $1,720,000 $95,556 $456 6.63%
    Refi 8 $2,120,000 $265,000 $6,066 6.05%
    Other 4 $330,000 $82,500 $2,777 6.63%
    Cash Out Refi 3 $3,215,000 $1,071,667 $12,226 4.63%

    For 2019, First Bank & Trust's most frequently cited loan purpose was Home Purchase, with 108 originations. The 2nd most popular reason was Home Improvement, with 18 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 41 $4,345,000 $105,976 $5,085 6.28%
    5 Year 36 $5,010,000 $139,167 $645 6.12%
    1 Year 18 $4,880,000 $271,111 $5,661 6.15%
    Other 16 $18,300,000 $1,143,750 $0 6.60%
    30 Year 12 $7,730,000 $644,167 $8,246 5.02%
    15 Year 12 $2,180,000 $181,667 $3,647 6.67%
    10 Year 5 $345,000 $69,000 $1,214 5.93%
    3 Year 1 $1,685,000 $1,685,000 $0 5.50%

    For 2019, First Bank & Trust's most frequently cited loan duration was 20 Year, with 41 originations. The 2nd most popular length was 5 Year, with 36 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 13 $1,115,000 $85,769
    $1k-2k 11 $3,475,000 $315,909
    $2k-3k 7 $2,595,000 $370,714
    $3k-4k 7 $2,325,000 $332,143
    $4k-5k 3 $2,105,000 $701,667
    $5k+ 1 $2,805,000 $2,805,000

    First Bank & Trust's average total fees were $8,246, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 13 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 69 $8,985,000 $130,217
    5-6% 49 $10,665,000 $217,653
    4-5% 14 $23,800,000 $1,700,000
    7-8% 6 $870,000 $145,000
    Over 8% 3 $155,000 $51,667

    During 2019, First Bank & Trust's average interest rate for loans was 5.02%, while their most frequently originated rate bucket for loans was 6-7%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 62 $3,920,000 $63,226 $1,127 6.45%
    $200k-400k 34 $8,790,000 $258,529 $5,675 6.07%
    $100k-200k 33 $4,465,000 $135,303 $3,687 6.14%
    $1MM+ 5 $23,615,000 $4,723,000 $17,015 4.95%
    $400k-600k 5 $2,225,000 $445,000 $6,990 5.45%
    $600k-1MM 2 $1,460,000 $730,000 $7,201 4.50%

    2019 saw First Bank & Trust place emphasis on $100,000 or less loans with 62 originations, totaling $3,920,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 19 $9,145,000 $481,316 $7,762 5.88%
    $50k-75k 11 $1,845,000 $167,727 $3,370 6.25%
    $100k-150k 10 $1,730,000 $173,000 $4,248 6.50%
    $150k-250k 8 $1,850,000 $231,250 $4,557 6.61%
    $75k-100k 8 $1,780,000 $222,500 $4,681 5.94%
    $50k or less 5 $825,000 $165,000 $3,182 5.73%

    First Bank & Trust lent most frequently to those with incomes in the $250k+ range, with 19 originations. The second most popular income band? $50k-75k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    >60% 15 $6,975,000 $465,000 $7,148 5.86%
    20-30% 8 $1,120,000 $140,000 $3,365 6.44%
    30-36% 4 $660,000 $165,000 $2,409 7.13%
    36% 4 $2,120,000 $530,000 $5,045 5.69%
    <20% 2 $1,010,000 $505,000 $7,133 5.00%
    38% 2 $110,000 $55,000 $470 6.38%
    39% 2 $130,000 $65,000 $836 5.63%
    42% 2 $660,000 $330,000 $7,603 6.38%
    50-60% 2 $1,180,000 $590,000 $4,385 5.50%
    43% 1 $255,000 $255,000 $6,005 7.25%
    44% 1 $55,000 $55,000 $0 6.25%
    45% 1 $175,000 $175,000 $4,129 4.50%
    46% 1 $195,000 $195,000 $5,775 6.50%
    40% 1 $65,000 $65,000 $0 10.50%
    37% 1 $65,000 $65,000 $3,616 6.50%

    First Bank & Trust lent most frequently to those with DTI ratios of >60%, with 15 originations. The next most common DTI ratio? 20-30%, with 8 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 79 $26,975,000 $341,456 $0 6.19%
    White 54 $14,550,000 $269,444 $4,955 6.15%
    Not provided 8 $2,950,000 $368,750 $4,888 6.08%

    Approval Rates

    Total approvals of all applications
    91.07%

    First Bank & Trust has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.74%

    First Bank & Trust has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 141 $44,475,000 $315,426

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $18,370,000 $4,592,500
    Single Family (1-4 Units):Manufactured 2 $170,000 $85,000
    Single Family (1-4 Units):Site-Built 135 $25,935,000 $192,111

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 7 $1,045,000 $149,286 $2,400 6.50%
    40-60% 18 $7,290,000 $405,000 $8,199 5.85%
    60-80% 62 $26,790,000 $432,097 $6,030 6.21%
    80-100% 45 $8,755,000 $194,556 $5,842 6.09%
    Under 20% 9 $595,000 $66,111 $619 6.67%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK VA mortgage Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 6.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 3 20.0%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Closing on a mortgage 1 6.7%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 2 13.3%
    FIRST HORIZON BANK FHA mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 4 26.7%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 1 6.7%
    FIRST HORIZON BANK VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 6.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Bank & Trust 1910 Lockwood Tahoka, TX 79373 Full Service B&M $29,217
    First Bank & Trust 2000 Green Avenue Wilson, TX 79381 Full Service B&M $43,973
    First Bank & Trust 2225 Hickory Colorado City, TX 79512 Full Service B&M $84,080
    First Bank & Trust 2619 College Avenue Snyder, TX 79549 Full Service B&M $104,299
    First Bank & Trust 3405 22nd Street Lubbock, TX 79410 Full Service B&M $45,314
    First Bank & Trust 6501 19th Street Lubbock, TX 79407 Full Service B&M $25,017
    First Bank & Trust 7806 Indiana Avenue Lubbock, TX 79423 Limited, Mobile/Seasonal Office $0
    First Bank & Trust 7806 Indiana Avenue Lubbock, TX 79423 Full Service B&M $125,868
    First Bank & Trust 9816 Slide Road Lubbock, TX 79424 Full Service B&M $387,025

    For 2019, First Bank & Trust had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $49,141
    Net interest income $40,937
    Total noninterest income $21,676
    Gross Fiduciary activities income $30
    Service charges on deposit accounts $2,845
    Trading account gains and fees $0
    Additional Noninterest Income $18,801
    Pre-tax net operating income $15,845
    Securities gains (or losses, -) $1,220
    Income before extraordinary items $13,184
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $13,184
    Minority interest net income $0
    Net income $13,184
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $12,220

    First Bank & Trust's gross interest income from loans was $49,141,000.
    First Bank & Trust's net interest income from loans was $40,937,000.
    First Bank & Trust's fee based income from loans was $2,845,000.
    First Bank & Trust's net income from loans was $13,184,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,204
    Provision for credit losses $5,258
    Total noninterest expense $41,510
    Salaries and employee benefits $17,053
    Premises and equipment expense $3,797
    Additional noninterest expense $20,660
    Applicable income taxes $3,881
    Net charge-offs $2,532
    Cash dividends $11,000

    First Bank & Trust's interest expense for loans was $8,204,000.
    First Bank & Trust's payroll and benefits expense were $17,053,000.
    First Bank & Trust's property, plant and equipment expenses $3,797,000.

    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 0.2%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $893,419
    Deposits held in domestic offices $893,419
    Deposits by Individuals, partnerships, and corporations $709,349
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $181,335
    Deposits by Commercial banks and other depository institutions in U.S. $1,000
    Deposits by Banks in foreign countries $1,735
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $43,355
    Demand deposits $34,370
    Nontransaction accounts $850,064
    Money market deposit accounts (MMDAs) $554,483
    Other savings deposits (excluding MMDAs) $62,546
    Total time deposits $233,035
    Total time and savings deposits $859,049
    Noninterest-bearing deposits $189,793
    Interest-bearing deposits $703,626
    Retail deposits $818,688
    IRAs and Keogh plan accounts $19,425
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,137,714
    Cash & Balances due from depository institutions $19,705
    Interest-bearing balances $5,090
    Total securities $319,993
    Federal funds sold & reverse repurchase $3,550
    Net loans and leases $607,326
    Loan and leases loss allowance $4,616
    Trading account assets $0
    Bank premises and fixed assets $21,739
    Other real estate owned $751
    Goodwill and other intangibles $137,025
    All other assets $27,625

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,137,714
    Total Liabilities $903,782
    Total deposits $893,419
    Interest-bearing deposits $703,626
    Deposits held in domestic offices $893,419
    % insured (estimated) $53
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $1,380
    Subordinated debt $0
    All other liabilities $8,983

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $607,326
    Loan and leases loss allowance $4,616
    Total loans and leases (domestic) $611,942
    All real estate loans $434,407
    Real estate loans in domestic offices $434,407
    Construction and development loans $117,255
    Residential 1-4 family construction $31,442
    Other construction, all land development and other land $85,813
    Loans secured by nonfarm nonresidential properties $166,080
    Nonfarm nonresidential secured by owner-occupied properties $86,982
    Commercial real estate & other non-farm, non-residential $79,098
    Multifamily residential real estate $3,477
    1-4 family residential loans $126,464
    Farmland loans $21,131
    Loans held in foreign offices $0
    Farm loans $16,107
    Commercial and industrial loans $148,130
    To non-U.S. addressees $0
    Loans to individuals $12,568
    Credit card loans $2,250
    Related Plans $2,833
    Consumer Auto Loans $2,999
    Other loans to individuals $4,486
    All other loans & leases $730
    Loans to foreign governments and official institutions $0
    Other loans $661
    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 $37
    Non 1-4 family restructured loans & leases $37
    Total loans and leases (foreign) $0

    First Bank & Trust had $607,326,000 of loans outstanding in 2019. $434,407,000 of loans were in real estate loans. $117,255,000 of loans were in development loans. $3,477,000 of loans were in multifamily mortgage loans. $126,464,000 of loans were in 1-4 family mortgage loans. $16,107,000 of loans were in farm loans. $2,250,000 of loans were in credit card loans. $2,999,000 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 225 $48,772 $216,764
    Nonfarm, nonresidential loans - <$100k 50 $2,199 $43,980
    Nonfarm, nonresidential loans - $100-250k 60 $7,493 $124,883
    Nonfarm, nonresidential loans - $250k-1MM 115 $39,080 $339,826
    Commercial & Industrial, US addressed loans - <$1MM 792 $59,850 $75,568
    Commercial & Industrial, US addressed loans - <$100k 522 $13,614 $26,080
    Commercial & Industrial, US addressed loans - $100-250k 145 $13,469 $92,890
    Commercial & Industrial, US addressed loans - $250k-1MM 125 $32,767 $262,136
    Farmland loans - <$1MM 34 $4,629 $136,147
    Farmland loans - <$100k 15 $644 $42,933
    Farmland loans - $100-250k 7 $926 $132,286
    Farmland loans - $250k-1MM 12 $3,059 $254,917
    Agriculture operations loans - <$1MM 123 $7,908 $64,293
    Agriculture operations loans - <$100k 74 $2,055 $27,770
    Agriculture operations loans - $100-250k 32 $3,217 $100,531
    Agriculture operations loans - $250k-1MM 17 $2,636 $155,059