First New Mexico Bank Las Cruces Mortgage Rates, Fees & Info

Las Cruces, NM

LEI: 549300ODHOF8ORD47F11

Tax ID: 26-1105824

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

Review & Overview

First New Mexico Bank Las Cruces is a smaller bank specializing in Home Purchase loans. First New Mexico Bank Las Cruces has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Las Cruces, Deming, Alamogordo, Lubbock, and Carlsbad among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

First New Mexico Bank Las Cruces 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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Originations

164

Origination Dollar Volume (All Markets)

$24,030,000

Employee count

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
LAS CRUCES, NM (FHA\|USDA\|VA)	148	$22,230,000	$150,203	$0	0.00%
Deming, NM (FHA\|USDA\|VA)	4	$420,000	$105,000	$0	0.00%
Alamogordo, NM (FHA\|USDA\|VA)	2	$330,000	$165,000	$0	0.00%
LUBBOCK, TX (FHA\|USDA\|VA)	2	$310,000	$155,000	$0	0.00%
Carlsbad-Artesia, NM (FHA\|USDA\|VA)	2	$280,000	$140,000	$0	0.00%
ALBUQUERQUE, NM (FHA\|USDA\|VA)	1	$215,000	$215,000	$0	0.00%
Silver City, NM (FHA\|USDA\|VA)	2	$80,000	$40,000	$0	0.00%
Ruidoso, NM (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	0.00%
Outside of Metro Areas	1	$55,000	$55,000	$0	0.00%
EL PASO, TX (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	0.00%

First New Mexico Bank Las Cruces's top markets include Las Cruces, Deming, Alamogordo, Lubbock, and Carlsbad among others.

Their top states include:

New Mexico (FHA|USDA|VA)

Texas (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	139	$19,905,000	$143,201	$0	0.00%
FHA	18	$2,270,000	$126,111	$0	0.00%
VA	7	$1,855,000	$265,000	$0	0.00%

For 2018, First New Mexico Bank Las Cruces's most frequently originated type of loan was Conventional, with 139 originations. Their 2nd most popular type was FHA, with 18 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	136	$21,640,000	$159,118	$0	0.00%
Refi	13	$1,195,000	$91,923	$0	0.00%
Other	8	$260,000	$32,500	$0	0.00%
Cash Out Refi	6	$810,000	$135,000	$0	0.00%
Home Improvement	1	$125,000	$125,000	$0	0.00%

For 2018, First New Mexico Bank Las Cruces's most frequently cited loan purpose was Home Purchase, with 136 originations. The 2nd most popular reason was Refi, with 13 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	164	$24,030,000	$146,524	$0	0.00%

For 2018, First New Mexico Bank Las Cruces's most frequently cited loan duration was Other, with 164 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	65	$9,435,000	$145,154	$0	0.00%
$100,000 or less	58	$2,570,000	$44,310	$0	0.00%
$200k-400k	36	$9,850,000	$273,611	$0	0.00%
$400k-600k	5	$2,175,000	$435,000	$0	0.00%

2018 saw First New Mexico Bank Las Cruces place emphasis on $100k-200k loans with 65 originations, totaling $9,435,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	47	$3,735,000	$79,468	$0	0.00%
$50k-75k	37	$4,085,000	$110,405	$0	0.00%
$100k-150k	26	$5,410,000	$208,077	$0	0.00%
$75k-100k	26	$5,170,000	$198,846	$0	0.00%
$150k-250k	12	$2,300,000	$191,667	$0	0.00%
$250k+	8	$2,040,000	$255,000	$0	0.00%

First New Mexico Bank Las Cruces lent most frequently to those with incomes in the $50k or less range, with 47 originations. The second most popular income band? $50k-75k, with 37 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	164	$24,030,000	$146,524	$0	0.00%

First New Mexico Bank Las Cruces lent most frequently to those with DTI ratios of Exempt%, with 164 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	135	$18,395,000	$136,259	$0	0.00%
Not provided	21	$4,315,000	$205,476	$0	0.00%
Not applicable	7	$1,165,000	$166,429	$0	0.00%
Asian	1	$155,000	$155,000	$0	0.00%

Approval Rates

Total approvals of all applications
81.25%

First New Mexico Bank Las Cruces has a below average approval rate.

Pick Rate

Approvals leading to origination
73.78%

First New Mexico Bank Las Cruces has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	164	$24,030,000	$146,524

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	2	$370,000	$185,000
Single Family (1-4 Units):Manufactured	21	$905,000	$43,095
Single Family (1-4 Units):Site-Built	141	$22,755,000	$161,383

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Incorrect information on your report	1	7.1%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Problem with a credit reporting company's investigation into an existing problem	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	7.1%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	1	7.1%
FIRST HORIZON BANK	Conventional home mortgage	Struggling to pay mortgage	3	21.4%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	5	35.7%
FIRST HORIZON BANK	FHA mortgage	Trouble during payment process	1	7.1%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
First New Mexico Bank, Las Cruces	3000 East Lohman Avenue Las Cruces, NM 88011	Full Service B&M	$86,549
First New Mexico Bank, Las Cruces	455 Landers Rd. Anthony, NM 88021	Full Service B&M	$11,433

For 2018, First New Mexico Bank Las Cruces had 2 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$5,426
Net interest income	$5,094
Total noninterest income	$965
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$395
Trading account gains and fees	$0
Additional Noninterest Income	$570
Pre-tax net operating income	$2,360
Securities gains (or losses, -)	$0
Income before extraordinary items	$1,700
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$1,700
Minority interest net income	$0
Net income	$1,700
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$1,700

First New Mexico Bank Las Cruces's gross interest income from loans was $5,426,000.
First New Mexico Bank Las Cruces's net interest income from loans was $5,094,000.
First New Mexico Bank Las Cruces's fee based income from loans was $395,000.
First New Mexico Bank Las Cruces's net income from loans was $1,700,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$332
Provision for credit losses	$25
Total noninterest expense	$3,674
Salaries and employee benefits	$2,219
Premises and equipment expense	$431
Additional noninterest expense	$1,024
Applicable income taxes	$660
Net charge-offs	$-48
Cash dividends	$1,086

First New Mexico Bank Las Cruces's interest expense for loans was $332,000.
First New Mexico Bank Las Cruces's payroll and benefits expense were $2,219,000.
First New Mexico Bank Las Cruces's property, plant and equipment expenses $431,000.

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	$92,580
Deposits held in domestic offices	$92,580
Deposits by Individuals, partnerships, and corporations	$87,484
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$2,842
Deposits by Commercial banks and other depository institutions in U.S.	$2,254
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$31,135
Demand deposits	$29,243
Nontransaction accounts	$61,445
Money market deposit accounts (MMDAs)	$4,349
Other savings deposits (excluding MMDAs)	$44,543
Total time deposits	$12,554
Total time and savings deposits	$63,337
Noninterest-bearing deposits	$29,243
Interest-bearing deposits	$63,337
Retail deposits	$90,849
IRAs and Keogh plan accounts	$2,831
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$112,442
Cash & Balances due from depository institutions	$23,566
Interest-bearing balances	$20,594
Total securities	$24,021
Federal funds sold & reverse repurchase	$130
Net loans and leases	$58,916
Loan and leases loss allowance	$1,532
Trading account assets	$0
Bank premises and fixed assets	$4,025
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$1,784

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$112,442
Total Liabilities	$95,756
Total deposits	$92,580
Interest-bearing deposits	$63,337
Deposits held in domestic offices	$92,580
% insured (estimated)	$83
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$3,176

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$58,916
Loan and leases loss allowance	$1,532
Total loans and leases (domestic)	$60,448
All real estate loans	$52,558
Real estate loans in domestic offices	$52,558
Construction and development loans	$7,917
Residential 1-4 family construction	$5,245
Other construction, all land development and other land	$2,672
Loans secured by nonfarm nonresidential properties	$18,934
Nonfarm nonresidential secured by owner-occupied properties	$8,903
Commercial real estate & other non-farm, non-residential	$10,031
Multifamily residential real estate	$5,054
1-4 family residential loans	$20,146
Farmland loans	$507
Loans held in foreign offices	$0
Farm loans	$36
Commercial and industrial loans	$4,616
To non-U.S. addressees	$0
Loans to individuals	$3,424
Credit card loans	$0
Related Plans	$3
Consumer Auto Loans	$2,074
Other loans to individuals	$1,347
All other loans & leases	$23
Loans to foreign governments and official institutions	$0
Other loans	$23
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	$0
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

First New Mexico Bank Las Cruces had $58,916,000 of loans outstanding in 2018. $52,558,000 of loans were in real estate loans. $7,917,000 of loans were in development loans. $5,054,000 of loans were in multifamily mortgage loans. $20,146,000 of loans were in 1-4 family mortgage loans. $36,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,074,000 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	43	$8,587	$199,698
Nonfarm, nonresidential loans - <$100k	14	$438	$31,286
Nonfarm, nonresidential loans - $100-250k	13	$1,516	$116,615
Nonfarm, nonresidential loans - $250k-1MM	16	$6,633	$414,563
Commercial & Industrial, US addressed loans - <$1MM	55	$2,731	$49,655
Commercial & Industrial, US addressed loans - <$100k	45	$892	$19,822
Commercial & Industrial, US addressed loans - $100-250k	7	$636	$90,857
Commercial & Industrial, US addressed loans - $250k-1MM	3	$1,203	$401,000
Farmland loans - <$1MM	6	$506	$84,333
Farmland loans - <$100k	5	$131	$26,200
Farmland loans - $250k-1MM	1	$375	$375,000
Agriculture operations loans - <$1MM	1	$36	$36,000
Agriculture operations loans - <$100k	1	$36	$36,000