First National Bank Mortgage Rates, Fees & Info

Wichita Falls, TX

LEI: 549300N34GCCEN8EJE06

Tax ID: 75-2044948

3.8 stars - out of 5 stars, based on 33 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First National Bank is a smaller bank specializing in Home Purchase and Refi loans. First National 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 Dallas, Brownwood, Wichita Falls, Houston, and Athens among others. First National Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First National Bank is typically a high fee lendor.


Originations

1,063

Origination Dollar Volume (All Markets)

$440,025,000

Employee count

160 Show all (5) awards

Relative Rate

First National Bank's average 30 year fixed rate mortgage of loans were 3.13%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.02%.

Relative Fees

First National Bank's average total fees for a 30 year fixed rate mortgage are $6,029.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 751 $359,775,000 $479,061 $7,118 3.43%
Brownwood, TX (FHA|USDA|VA) 102 $18,670,000 $183,039 $5,868 3.14%
WICHITA FALLS, TX (FHA|USDA|VA) 94 $16,960,000 $180,426 $5,068 3.86%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 16 $7,540,000 $471,250 $6,222 2.98%
Outside of Metro Areas 21 $7,455,000 $355,000 $5,787 3.30%
Athens, TX (FHA|USDA|VA) 9 $6,675,000 $741,667 $10,632 3.65%
SHERMAN-DENISON, TX (FHA|USDA|VA) 12 $3,500,000 $291,667 $5,419 3.46%
Mineral Wells, TX (FHA|USDA|VA) 5 $3,355,000 $671,000 $7,552 3.15%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 7 $2,125,000 $303,571 $5,533 3.66%
Gainesville, TX (FHA|USDA|VA) 3 $1,545,000 $515,000 $10,525 3.33%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 4 $1,290,000 $322,500 $4,029 3.19%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $955,000 $955,000 $16,880 3.99%
ABILENE, TX (FHA|USDA|VA) 4 $870,000 $217,500 $7,287 2.81%
ALBUQUERQUE, NM (FHA|USDA|VA) 2 $860,000 $430,000 $4,292 2.63%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 2 $840,000 $420,000 $2,971 2.88%
FORT SMITH, AR-OK (FHA|USDA|VA) 1 $745,000 $745,000 $4,416 3.13%
WACO, TX (FHA|USDA|VA) 2 $620,000 $310,000 $4,396 3.06%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $610,000 $305,000 $2,636 2.94%
Rockport, TX (FHA|USDA|VA) 2 $580,000 $290,000 $4,316 3.31%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $400,000 $200,000 $4,727 2.63%
TULSA, OK (FHA|USDA|VA) 1 $395,000 $395,000 $4,651 3.13%
OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $395,000 $395,000 $4,548 2.63%
Granbury, TX (FHA|USDA|VA) 1 $375,000 $375,000 $4,839 2.50%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 1 $325,000 $325,000 $4,362 2.50%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $315,000 $315,000 $11,034 3.13%
Kerrville, TX (FHA|USDA|VA) 1 $315,000 $315,000 $3,768 4.13%
Silver City, NM (FHA|USDA|VA) 1 $305,000 $305,000 $2,799 3.00%
AMARILLO, TX (FHA|USDA|VA) 1 $255,000 $255,000 $3,169 3.00%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $255,000 $255,000 $3,516 2.13%
SAN ANGELO, TX (FHA|USDA|VA) 1 $255,000 $255,000 $9,512 3.88%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $245,000 $245,000 $5,559 4.25%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $225,000 $225,000 $3,723 2.88%
KANSAS CITY, MO-KS (FHA|USDA|VA) 2 $210,000 $105,000 $0 4.75%
LONGVIEW, TX (FHA|USDA|VA) 1 $185,000 $185,000 $3,746 3.00%
Vernon, TX (FHA|USDA|VA) 2 $150,000 $75,000 $2,874 3.13%
Bonham, TX (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.99%
SPRINGFIELD, MO (FHA|USDA|VA) 1 $115,000 $115,000 $2,700 3.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 5.00%
HOT SPRINGS, AR (FHA|USDA|VA) 1 $95,000 $95,000 $3,417 2.13%

First National Bank's top markets include Dallas, Brownwood, Wichita Falls, Houston, and Athens among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 893 $403,275,000 $451,596 $6,502 3.48%
FHA 115 $23,665,000 $205,783 $7,931 3.27%
VA 30 $9,430,000 $314,333 $7,219 2.81%
USDA 25 $3,655,000 $146,200 $5,339 2.79%

For the 2021 period, First National Bank's most frequently originated loan type of loans were Conventional, with 893 originations. Their 2nd most popular type is FHA, with 115 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 643 $271,715,000 $422,574 $8,390 3.60%
Refi 298 $130,120,000 $436,644 $4,388 3.03%
Cash Out Refi 110 $35,020,000 $318,364 $4,970 3.29%
Home Improvement 9 $2,545,000 $282,778 $2,262 5.03%
Other 3 $625,000 $208,333 $5,041 4.50%

For the 2021, First National Bank's most frequently cited loan purpose of loans were Home Purchase, with 643 originations. The 2nd most popular reason of loans were Refi, with 298 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 718 $283,260,000 $394,513 $6,029 3.13%
1 Year 85 $40,605,000 $477,706 $10,667 4.28%
15 Year 70 $20,870,000 $298,143 $4,310 2.46%
5 Year 67 $13,365,000 $199,478 $0 5.05%
30+ year 47 $54,835,000 $1,166,702 $22,217 4.13%
Other 34 $11,860,000 $348,824 $6,363 4.58%
10 Year 23 $6,255,000 $271,957 $4,639 4.54%
20 Year 16 $5,870,000 $366,875 $5,070 2.96%
3 Year 3 $3,105,000 $1,035,000 $0 4.80%

For the 2021, First National Bank's most frequently cited loan length of loans were 30 Year, with 718 originations. The 2nd most popular length of loans were 1 Year, with 85 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 660 $230,700,000 $349,545
$5k+ 124 $126,930,000 $1,023,629
$2k-3k 71 $17,635,000 $248,380
$3k-4k 57 $21,975,000 $385,526
$<1k 30 $8,880,000 $296,000

$6,029 of loans were First National Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 660 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 415 $199,575,000 $480,904
2.5-3% 305 $116,775,000 $382,869
4-5% 172 $78,200,000 $454,651
<2.5% 131 $40,675,000 $310,496
5-6% 39 $4,625,000 $118,590

During 2021, First National Bank's average interest rate of loans were 3.13%, while their most frequently originated rate bucket of loans were 3-4%, with 415 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 373 $106,675,000 $285,992 $5,493 3.21%
$100k-200k 255 $38,335,000 $150,333 $4,671 3.54%
$400k-600k 207 $99,595,000 $481,135 $5,656 3.23%
$1MM+ 80 $128,520,000 $1,606,500 $20,643 3.85%
$600k-1MM 80 $61,850,000 $773,125 $9,433 3.45%
$100,000 or less 68 $5,050,000 $74,265 $3,686 4.20%

2021 saw First National Bank place emphasis on $200k-400k loans with 373 originations, totaling $106,675,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 251 $206,385,000 $822,251 $10,908 3.48%
$100k-150k 193 $60,075,000 $311,269 $5,223 3.16%
$150k-250k 191 $76,865,000 $402,435 $5,693 3.20%
$50k-75k 138 $27,590,000 $199,928 $5,495 3.20%
$75k-100k 116 $27,270,000 $235,086 $5,409 3.07%
$50k or less 77 $11,535,000 $149,805 $5,086 3.45%

First National Bank lent most frequently to those with incomes in the $250k+ range, with 251 originations. The second most popular income band? $100k-150k, with 193 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 213 $90,965,000 $427,066 $6,057 3.16%
30-36% 196 $83,890,000 $428,010 $6,458 3.26%
<20% 101 $45,875,000 $454,208 $5,316 3.15%
42% 60 $36,130,000 $602,167 $9,412 3.42%
41% 47 $28,275,000 $601,596 $10,424 3.43%
38% 46 $20,890,000 $454,130 $7,212 3.10%
36% 39 $17,935,000 $459,872 $7,848 3.27%
37% 36 $15,920,000 $442,222 $7,265 3.41%
39% 33 $15,265,000 $462,576 $7,207 3.34%
40% 28 $13,100,000 $467,857 $5,317 3.20%
43% 26 $7,460,000 $286,923 $5,208 3.13%
44% 25 $5,795,000 $231,800 $4,736 2.96%
50-60% 21 $5,415,000 $257,857 $8,533 3.15%
45% 18 $4,860,000 $270,000 $5,923 3.10%
47% 16 $4,740,000 $296,250 $5,254 3.20%
49% 16 $4,160,000 $260,000 $5,393 3.35%
48% 13 $3,325,000 $255,769 $5,731 2.98%
46% 10 $3,200,000 $320,000 $6,716 3.16%

First National Bank lent most frequently to those with DTI ratios of 20-30%, with 213 originations. The next most common DTI ratio? 30-36%, with 196 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 693 $277,245,000 $400,065 $6,317 3.25%
Not provided 202 $103,020,000 $510,000 $7,978 3.30%
Not applicable 94 $29,420,000 $312,979 $0 4.96%
Asian 41 $21,005,000 $512,317 $7,447 3.48%
Black 30 $8,520,000 $284,000 $6,933 3.39%
American Indian 3 $815,000 $271,667 $4,560 2.75%

Approval Rates

Total approvals of all applications
93.87%

First National Bank has an average approval rate.

Pick Rate

Approvals leading to origination
89.08%

First National Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,063 $440,025,000 $413,946

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,063 $440,025,000 $413,946

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 34 $10,340,000 $304,118 $4,695 2.87%
40-60% 134 $51,540,000 $384,627 $4,694 3.08%
60-80% 430 $186,430,000 $433,558 $5,858 3.61%
80-100% 440 $178,510,000 $405,705 $7,831 3.39%
Over 100% 16 $11,370,000 $710,625 $16,662 3.50%
Under 20% 9 $1,835,000 $203,889 $4,438 3.04%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
FIRST NATIONAL BANK OF OMAHA Conventional home mortgage Trouble during payment process 1 25.0%
FIRST NATIONAL BANK OF OMAHA FHA mortgage Improper use of your report 1 25.0%
FIRST NATIONAL BANK OF OMAHA Other type of mortgage Struggling to pay mortgage 1 25.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
First National Bank 102 Port O Call Drive Runaway Bay, TX 76426 Full Service B&M $17,165
First National Bank 1709 9th Street Bridgeport, TX 76426 Full Service B&M $75,276
First National Bank 201 S Weatherford St Chico, TX 76431 Full Service B&M $56,672
First National Bank 2304 Midwestern Parkway Wichita Falls, TX 76308 Full Service B&M $58,047
First National Bank 3801 Fairway Blvd Wichita Falls, TX 76310 Full Service B&M $410,398
First National Bank 605 West State Highway 114 Southlake, TX 76092 Full Service B&M $150,777
First National Bank 630 Main Street Paradise, TX 76073 Full Service B&M $29,217

For 2021, First National Bank had 7 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $38,993
Net interest income $33,875
Total noninterest income $11,376
Gross Fiduciary activities income $0
Service charges on deposit accounts $413
Trading account gains and fees $0
Additional Noninterest Income $10,963
Pre-tax net operating income $12,747
Securities gains (or losses, -) $0
Income before extraordinary items $12,747
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $12,747
Minority interest net income $0
Net income $12,747
Sale, conversion, retirement of capital stock, net $0
Net operating income $12,747

First National Bank's gross interest income from loans was $38,993,000.
First National Bank's net interest income from loans was $33,875,000.
First National Bank's fee based income from loans was $413,000.
First National Bank's net income from loans was $12,747,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $5,118
Provision for credit losses $1,337
Total noninterest expense $31,167
Salaries and employee benefits $20,935
Premises and equipment expense $2,888
Additional noninterest expense $7,344
Applicable income taxes $0
Net charge-offs $-26
Cash dividends $5,178

First National Bank's interest expense for loans was $5,118,000.
First National Bank's payroll and benefits expense were $20,935,000.
First National Bank's property, plant and equipment expenses $2,888,000.

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 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $823,641
Deposits held in domestic offices $823,641
Deposits by Individuals, partnerships, and corporations $771,597
Deposits by U.S. Government $16
Deposits by States and political subdivisions in the U.S. $50,538
Deposits by Commercial banks and other depository institutions in U.S. $1,490
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $327,859
Demand deposits $249,272
Nontransaction accounts $495,782
Money market deposit accounts (MMDAs) $249,179
Other savings deposits (excluding MMDAs) $36,325
Total time deposits $210,278
Total time and savings deposits $574,369
Noninterest-bearing deposits $250,794
Interest-bearing deposits $572,847
Retail deposits $730,707
IRAs and Keogh plan accounts $20,629
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $965,070
Cash & Balances due from depository institutions $133,006
Interest-bearing balances $111,132
Total securities $60,715
Federal funds sold & reverse repurchase $0
Net loans and leases $733,775
Loan and leases loss allowance $9,438
Trading account assets $94
Bank premises and fixed assets $8,240
Other real estate owned $0
Goodwill and other intangibles $5,866
All other assets $23,374

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $965,070
Total Liabilities $866,192
Total deposits $823,641
Interest-bearing deposits $572,847
Deposits held in domestic offices $823,641
% insured (estimated) $69
Federal funds purchased and repurchase agreements $4,158
Trading liabilities $2
Other borrowed funds $34,138
Subordinated debt $0
All other liabilities $4,253

Issued Loan Types

Type Value (in 000's)
Net loans and leases $733,775
Loan and leases loss allowance $9,438
Total loans and leases (domestic) $743,213
All real estate loans $607,331
Real estate loans in domestic offices $607,331
Construction and development loans $261,059
Residential 1-4 family construction $184,089
Other construction, all land development and other land $76,970
Loans secured by nonfarm nonresidential properties $108,839
Nonfarm nonresidential secured by owner-occupied properties $51,716
Commercial real estate & other non-farm, non-residential $57,123
Multifamily residential real estate $6,085
1-4 family residential loans $227,112
Farmland loans $4,236
Loans held in foreign offices $0
Farm loans $719
Commercial and industrial loans $65,859
To non-U.S. addressees $0
Loans to individuals $6,798
Credit card loans $0
Related Plans $192
Consumer Auto Loans $2,870
Other loans to individuals $3,736
All other loans & leases $62,625
Loans to foreign governments and official institutions $0
Other loans $26,723
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $244
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

First National Bank had $733,775,000 of loans outstanding in 2021. $607,331,000 of loans were in real estate loans. $261,059,000 of loans were in development loans. $6,085,000 of loans were in multifamily mortgage loans. $227,112,000 of loans were in 1-4 family mortgage loans. $719,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,870,000 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 168 $39,139 $232,970
Nonfarm, nonresidential loans - <$100k 40 $1,574 $39,350
Nonfarm, nonresidential loans - $100-250k 43 $5,451 $126,767
Nonfarm, nonresidential loans - $250k-1MM 85 $32,114 $377,812
Commercial & Industrial, US addressed loans - <$1MM 489 $35,208 $72,000
Commercial & Industrial, US addressed loans - <$100k 357 $9,318 $26,101
Commercial & Industrial, US addressed loans - $100-250k 73 $8,837 $121,055
Commercial & Industrial, US addressed loans - $250k-1MM 59 $17,053 $289,034
Farmland loans - <$1MM 57 $3,762 $66,000
Farmland loans - <$100k 36 $922 $25,611
Farmland loans - $100-250k 14 $1,378 $98,429
Farmland loans - $250k-1MM 7 $1,462 $208,857
Agriculture operations loans - <$1MM 30 $719 $23,967
Agriculture operations loans - <$100k 29 $375 $12,931
Agriculture operations loans - $250k-1MM 1 $344 $344,000