First Community Bank Mortgage Rates, Fees & Info

Corpus Christi, TX

LEI: 549300L4Z4LTG4TJTM66

Tax ID: 76-0024722

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Community Bank is a smaller bank specializing in Home Purchase loans. First Community Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Corpus Christi, Victoria, Rockport, Kingsville, and Alice among others. First Community Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors.


Originations

444

Origination Dollar Volume (All Markets)

$113,200,000

Employee count

165

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CORPUS CHRISTI, TX (FHA|USDA|VA) 199 $58,225,000 $292,588 $0 0.00%
VICTORIA, TX (FHA|USDA|VA) 121 $25,715,000 $212,521 $0 0.00%
Rockport, TX (FHA|USDA|VA) 17 $9,625,000 $566,176 $0 0.00%
Kingsville, TX (FHA|USDA|VA) 46 $8,200,000 $178,261 $0 0.00%
Alice, TX (FHA|USDA|VA) 25 $3,505,000 $140,200 $0 0.00%
Outside of Metro Areas 14 $2,520,000 $180,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 5 $1,275,000 $255,000 $0 0.00%
Port Lavaca, TX (FHA|USDA|VA) 5 $915,000 $183,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $680,000 $340,000 $0 0.00%
MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 2 $470,000 $235,000 $0 0.00%
Kerrville, TX (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
Bay City, TX (FHA|USDA|VA) 2 $310,000 $155,000 $0 0.00%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 2 $300,000 $150,000 $0 0.00%
KNOXVILLE, TN (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
Beeville, TX (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%

First Community Bank's top markets include Corpus Christi, Victoria, Rockport, Kingsville, and Alice among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 344 $90,880,000 $264,186 $0 0.00%
FHA 74 $15,140,000 $204,595 $0 0.00%
VA 24 $6,820,000 $284,167 $0 0.00%
USDA 2 $360,000 $180,000 $0 0.00%

For the 2021 period, First Community Bank's most frequently originated loan type of loans were Conventional, with 344 originations. Their 2nd most popular type is FHA, with 74 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 349 $95,205,000 $272,794 $0 0.00%
Refi 66 $13,140,000 $199,091 $0 0.00%
Home Improvement 15 $1,465,000 $97,667 $0 0.00%
Cash Out Refi 14 $3,390,000 $242,143 $0 0.00%

For the 2021, First Community Bank's most frequently cited loan purpose of loans were Home Purchase, with 349 originations. The 2nd most popular reason of loans were Refi, with 66 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 444 $113,200,000 $254,955 $0 0.00%

For the 2021, First Community Bank's most frequently cited loan length of loans were Other, with 444 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 188 $27,140,000 $144,362 $0 0.00%
$200k-400k 169 $44,335,000 $262,337 $0 0.00%
$100,000 or less 63 $4,435,000 $70,397 $0 0.00%
$400k-600k 18 $8,390,000 $466,111 $0 0.00%
$1MM+ 5 $28,165,000 $5,633,000 $0 0.00%
$600k-1MM 1 $735,000 $735,000 $0 0.00%

2021 saw First Community Bank place emphasis on $100k-200k loans with 188 originations, totaling $27,140,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 94 $21,300,000 $226,596 $0 0.00%
$75k-100k 75 $14,445,000 $192,600 $0 0.00%
$50k-75k 70 $13,090,000 $187,000 $0 0.00%
$150k-250k 65 $13,945,000 $214,538 $0 0.00%
$50k or less 43 $5,775,000 $134,302 $0 0.00%
$250k+ 10 $2,980,000 $298,000 $0 0.00%

First Community Bank lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $75k-100k, with 75 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 444 $113,200,000 $254,955 $0 0.00%

First Community Bank lent most frequently to those with DTI ratios of Exempt%, with 444 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 334 $67,980,000 $203,533 $0 0.00%
Not applicable 81 $40,885,000 $504,753 $0 0.00%
Not provided 18 $2,810,000 $156,111 $0 0.00%
Black 6 $1,000,000 $166,667 $0 0.00%
Asian 3 $325,000 $108,333 $0 0.00%
American Indian 2 $200,000 $100,000 $0 0.00%

Approval Rates

Total approvals of all applications
98.36%

First Community Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
91.23%

First Community Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 444 $113,200,000 $254,955

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
444 $113,200,000 $254,955

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST COMMUNITY MORTGAGE, INC. Conventional home mortgage Trouble during payment process 4 66.7%
FIRST COMMUNITY MORTGAGE, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 16.7%
FIRST COMMUNITY MORTGAGE, INC. Conventional home mortgage Struggling to pay mortgage 1 16.7%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
First Community Bank 1001 Wildcat Drive Portland, TX 78374 Limited, Mobile/Seasonal Office $0
First Community Bank 1600 East Main Street Alice, TX 78332 Full Service B&M $100,838
First Community Bank 1629 Highway 35 North Rockport, TX 78382 Full Service B&M $24,332
First Community Bank 2525 Brahma Boulevard Kingsville, TX 78363 Full Service B&M $53,345
First Community Bank 416 North Water Street Corpus Christi, TX 78401 Limited, Mobile/Seasonal Office $0
First Community Bank 416 North Water Street Corpus Christi, TX 78401 Full Service B&M $63,130
First Community Bank 4201 S. Alameda Corpus Christi, TX 78412 Full Service B&M $18,716
First Community Bank 500 N Water St Corpus Christi, TX 78401 Full Service B&M $26,022
First Community Bank 5406 Everhart Road Corpus Christi, TX 78411 Full Service B&M $123,436
First Community Bank 6252 N. Navarro St. Victoria, TX 77904 Full Service B&M $13,797
First Community Bank 1001 Wildcat Drive Portland, TX 78374 Full Service B&M $52,075
First Community Bank 120 S. Agnes Street Premont, TX 78375 Full Service B&M $24,644
First Community Bank 14254 South Padre Island Drive Corpus Christi, TX 78418 Full Service B&M $9,757

For 2021, First Community Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $26,852
Net interest income $25,903
Total noninterest income $5,174
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,360
Trading account gains and fees $0
Additional Noninterest Income $3,814
Pre-tax net operating income $8,008
Securities gains (or losses, -) $34
Income before extraordinary items $8,042
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $8,042
Minority interest net income $0
Net income $8,042
Sale, conversion, retirement of capital stock, net $0
Net operating income $8,008

First Community Bank's gross interest income from loans was $26,852,000.
First Community Bank's net interest income from loans was $25,903,000.
First Community Bank's fee based income from loans was $1,360,000.
First Community Bank's net income from loans was $8,042,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $949
Provision for credit losses $1,500
Total noninterest expense $21,569
Salaries and employee benefits $11,932
Premises and equipment expense $3,254
Additional noninterest expense $6,383
Applicable income taxes $0
Net charge-offs $204
Cash dividends $4,100

First Community Bank's interest expense for loans was $949,000.
First Community Bank's payroll and benefits expense were $11,932,000.
First Community Bank's property, plant and equipment expenses $3,254,000.

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 0.0%
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 $542,455
Deposits held in domestic offices $542,455
Deposits by Individuals, partnerships, and corporations $534,948
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $7,056
Deposits by Commercial banks and other depository institutions in U.S. $451
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $342,686
Demand deposits $325,201
Nontransaction accounts $199,769
Money market deposit accounts (MMDAs) $95,728
Other savings deposits (excluding MMDAs) $36,185
Total time deposits $67,856
Total time and savings deposits $217,254
Noninterest-bearing deposits $312,178
Interest-bearing deposits $230,277
Retail deposits $515,648
IRAs and Keogh plan accounts $3,397
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $605,198
Cash & Balances due from depository institutions $80,864
Interest-bearing balances $69,705
Total securities $101,394
Federal funds sold & reverse repurchase $0
Net loans and leases $397,078
Loan and leases loss allowance $6,867
Trading account assets $0
Bank premises and fixed assets $19,226
Other real estate owned $1,759
Goodwill and other intangibles $0
All other assets $4,877

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $605,198
Total Liabilities $543,487
Total deposits $542,455
Interest-bearing deposits $230,277
Deposits held in domestic offices $542,455
% insured (estimated) $62
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $1,032

Issued Loan Types

Type Value (in 000's)
Net loans and leases $397,078
Loan and leases loss allowance $6,867
Total loans and leases (domestic) $403,945
All real estate loans $321,726
Real estate loans in domestic offices $321,726
Construction and development loans $127,876
Residential 1-4 family construction $33,203
Other construction, all land development and other land $94,673
Loans secured by nonfarm nonresidential properties $96,553
Nonfarm nonresidential secured by owner-occupied properties $38,591
Commercial real estate & other non-farm, non-residential $57,962
Multifamily residential real estate $4,779
1-4 family residential loans $85,229
Farmland loans $7,289
Loans held in foreign offices $0
Farm loans $2,986
Commercial and industrial loans $66,089
To non-U.S. addressees $0
Loans to individuals $8,540
Credit card loans $231
Related Plans $6
Consumer Auto Loans $1,897
Other loans to individuals $6,406
All other loans & leases $4,604
Loans to foreign governments and official institutions $0
Other loans $4,604
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $270
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $53
Non 1-4 family restructured loans & leases $53
Total loans and leases (foreign) $0

First Community Bank had $397,078,000 of loans outstanding in 2021. $321,726,000 of loans were in real estate loans. $127,876,000 of loans were in development loans. $4,779,000 of loans were in multifamily mortgage loans. $85,229,000 of loans were in 1-4 family mortgage loans. $2,986,000 of loans were in farm loans. $231,000 of loans were in credit card loans. $1,897,000 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 258 $45,047 $174,601
Nonfarm, nonresidential loans - <$100k 68 $3,434 $50,500
Nonfarm, nonresidential loans - $100-250k 98 $12,265 $125,153
Nonfarm, nonresidential loans - $250k-1MM 92 $29,348 $319,000
Commercial & Industrial, US addressed loans - <$1MM 615 $37,258 $60,582
Commercial & Industrial, US addressed loans - <$100k 477 $10,672 $22,373
Commercial & Industrial, US addressed loans - $100-250k 70 $8,323 $118,900
Commercial & Industrial, US addressed loans - $250k-1MM 68 $18,263 $268,574
Farmland loans - <$1MM 52 $4,009 $77,096
Farmland loans - <$100k 30 $1,221 $40,700
Farmland loans - $100-250k 18 $2,190 $121,667
Farmland loans - $250k-1MM 4 $598 $149,500
Agriculture operations loans - <$1MM 50 $1,136 $22,720
Agriculture operations loans - <$100k 45 $812 $18,044
Agriculture operations loans - $100-250k 4 $214 $53,500
Agriculture operations loans - $250k-1MM 1 $110 $110,000