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 and Refi loans. First New Mexico Bank Las Cruces has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Las Cruces, Albuquerque, Mineral Wells, El Paso, and Deming among others. We have data for 9 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

176

Origination Dollar Volume (All Markets)

$36,480,000

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)	163	$33,655,000	$206,472	$0	0.00%
ALBUQUERQUE, NM (FHA\|USDA\|VA)	2	$520,000	$260,000	$0	0.00%
Mineral Wells, TX (FHA\|USDA\|VA)	1	$515,000	$515,000	$0	0.00%
EL PASO, TX (FHA\|USDA\|VA)	1	$405,000	$405,000	$0	0.00%
Outside of Metro Areas	2	$400,000	$200,000	$0	0.00%
Deming, NM (FHA\|USDA\|VA)	1	$295,000	$295,000	$0	0.00%
Silver City, NM (FHA\|USDA\|VA)	3	$295,000	$98,333	$0	0.00%
Seattle-Tacoma-Bellevue, WA (FHA\|USDA\|VA)	1	$235,000	$235,000	$0	0.00%
Alamogordo, NM (FHA\|USDA\|VA)	2	$160,000	$80,000	$0	0.00%

First New Mexico Bank Las Cruces's top markets include Las Cruces, Albuquerque, Mineral Wells, El Paso, and Deming among others.

Their top states include:

New Mexico (FHA|USDA|VA)

Texas (FHA|USDA|VA)

Washington (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	166	$34,860,000	$210,000	$0	0.00%
FHA	7	$895,000	$127,857	$0	0.00%
VA	3	$725,000	$241,667	$0	0.00%

For 2020, First New Mexico Bank Las Cruces's most frequently originated type of loan was Conventional, with 166 originations. Their 2nd most popular type was FHA, with 7 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	100	$20,780,000	$207,800	$0	0.00%
Refi	55	$10,815,000	$196,636	$0	0.00%
Cash Out Refi	18	$4,330,000	$240,556	$0	0.00%
Other	3	$555,000	$185,000	$0	0.00%

For 2020, First New Mexico Bank Las Cruces's most frequently cited loan purpose was Home Purchase, with 100 originations. The 2nd most popular reason was Refi, with 55 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	176	$36,480,000	$207,273	$0	0.00%

For 2020, First New Mexico Bank Las Cruces's most frequently cited loan duration was Other, with 176 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	72	$19,760,000	$274,444	$0	0.00%
$100k-200k	67	$10,305,000	$153,806	$0	0.00%
$100,000 or less	26	$1,320,000	$50,769	$0	0.00%
$400k-600k	11	$5,095,000	$463,182	$0	0.00%

2020 saw First New Mexico Bank Las Cruces place emphasis on $200k-400k loans with 72 originations, totaling $19,760,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	42	$6,390,000	$152,143	$0	0.00%
$100k-150k	39	$8,955,000	$229,615	$0	0.00%
$150k-250k	30	$9,020,000	$300,667	$0	0.00%
$50k or less	27	$3,005,000	$111,296	$0	0.00%
$75k-100k	23	$4,495,000	$195,435	$0	0.00%
$250k+	10	$3,360,000	$336,000	$0	0.00%

First New Mexico Bank Las Cruces lent most frequently to those with incomes in the $50k-75k range, with 42 originations. The second most popular income band? $100k-150k, with 39 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	176	$36,480,000	$207,273	$0	0.00%

First New Mexico Bank Las Cruces lent most frequently to those with DTI ratios of Exempt%, with 176 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	129	$24,935,000	$193,295	$0	0.00%
Not provided	43	$10,395,000	$241,744	$0	0.00%
Other Asian	1	$455,000	$455,000	$0	0.00%
Asian	2	$420,000	$210,000	$0	0.00%
Korean	1	$275,000	$275,000	$0	0.00%

Approval Rates

Total approvals of all applications
85.94%

First New Mexico Bank Las Cruces has an average approval rate.

Pick Rate

Approvals leading to origination
78.41%

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

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	176	$36,480,000	$207,273

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Manufactured	8	$480,000	$60,000
Single Family (1-4 Units):Site-Built	168	$36,000,000	$214,286

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
FIRST HORIZON BANK	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	1	6.7%
FIRST HORIZON BANK	Other type of mortgage	Trouble during payment process	2	13.3%
FIRST HORIZON BANK	Other type of mortgage	Struggling to pay mortgage	1	6.7%
FIRST HORIZON BANK	Other type of mortgage	Closing on a mortgage	2	13.3%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	6.7%
FIRST HORIZON BANK	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	3	20.0%
FIRST HORIZON BANK	Conventional home mortgage	Trouble during payment process	4	26.7%
FIRST HORIZON BANK	Conventional home mortgage	Closing on a mortgage	1	6.7%

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	$95,970
First New Mexico Bank, Las Cruces	455 Landers Rd. Anthony, NM 88021	Full Service B&M	$15,598

For 2020, First New Mexico Bank Las Cruces had 2 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$5,174
Net interest income	$4,854
Total noninterest income	$1,181
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$355
Trading account gains and fees	$0
Additional Noninterest Income	$826
Pre-tax net operating income	$2,114
Securities gains (or losses, -)	$0
Income before extraordinary items	$1,880
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$1,880
Minority interest net income	$0
Net income	$1,880
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$1,880

First New Mexico Bank Las Cruces's gross interest income from loans was $5,174,000.
First New Mexico Bank Las Cruces's net interest income from loans was $4,854,000.
First New Mexico Bank Las Cruces's fee based income from loans was $355,000.
First New Mexico Bank Las Cruces's net income from loans was $1,880,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$320
Provision for credit losses	$100
Total noninterest expense	$3,821
Salaries and employee benefits	$2,301
Premises and equipment expense	$459
Additional noninterest expense	$1,061
Applicable income taxes	$234
Net charge-offs	$13
Cash dividends	$1,477

First New Mexico Bank Las Cruces's interest expense for loans was $320,000.
First New Mexico Bank Las Cruces's payroll and benefits expense were $2,301,000.
First New Mexico Bank Las Cruces's property, plant and equipment expenses $459,000.

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	$116,062
Deposits held in domestic offices	$116,062
Deposits by Individuals, partnerships, and corporations	$110,766
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$4,584
Deposits by Commercial banks and other depository institutions in U.S.	$712
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$50,648
Demand deposits	$47,951
Nontransaction accounts	$65,414
Money market deposit accounts (MMDAs)	$5,579
Other savings deposits (excluding MMDAs)	$45,796
Total time deposits	$14,039
Total time and savings deposits	$68,111
Noninterest-bearing deposits	$47,951
Interest-bearing deposits	$68,110
Retail deposits	$112,150
IRAs and Keogh plan accounts	$2,542
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$137,203
Cash & Balances due from depository institutions	$42,030
Interest-bearing balances	$37,794
Total securities	$20,083
Federal funds sold & reverse repurchase	$300
Net loans and leases	$68,046
Loan and leases loss allowance	$1,633
Trading account assets	$0
Bank premises and fixed assets	$4,708
Other real estate owned	$104
Goodwill and other intangibles	$0
All other assets	$1,932

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$137,203
Total Liabilities	$119,471
Total deposits	$116,062
Interest-bearing deposits	$68,110
Deposits held in domestic offices	$116,062
% insured (estimated)	$80
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$3,409

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$68,046
Loan and leases loss allowance	$1,633
Total loans and leases (domestic)	$69,679
All real estate loans	$58,708
Real estate loans in domestic offices	$58,708
Construction and development loans	$11,083
Residential 1-4 family construction	$9,187
Other construction, all land development and other land	$1,896
Loans secured by nonfarm nonresidential properties	$22,988
Nonfarm nonresidential secured by owner-occupied properties	$10,647
Commercial real estate & other non-farm, non-residential	$12,341
Multifamily residential real estate	$4,382
1-4 family residential loans	$19,433
Farmland loans	$822
Loans held in foreign offices	$0
Farm loans	$20
Commercial and industrial loans	$9,348
To non-U.S. addressees	$0
Loans to individuals	$1,843
Credit card loans	$0
Related Plans	$5
Consumer Auto Loans	$814
Other loans to individuals	$1,024
All other loans & leases	$22
Loans to foreign governments and official institutions	$0
Other loans	$22
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 $68,046,000 of loans outstanding in 2020. $58,708,000 of loans were in real estate loans. $11,083,000 of loans were in development loans. $4,382,000 of loans were in multifamily mortgage loans. $19,433,000 of loans were in 1-4 family mortgage loans. $20,000 of loans were in farm loans. $0 of loans were in credit card loans. $814,000 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	40	$8,559	$213,975
Nonfarm, nonresidential loans - <$100k	12	$498	$41,500
Nonfarm, nonresidential loans - $100-250k	11	$1,438	$130,727
Nonfarm, nonresidential loans - $250k-1MM	17	$6,623	$389,588
Commercial & Industrial, US addressed loans - <$1MM	168	$7,670	$45,655
Commercial & Industrial, US addressed loans - <$100k	143	$3,010	$21,049
Commercial & Industrial, US addressed loans - $100-250k	18	$2,551	$141,722
Commercial & Industrial, US addressed loans - $250k-1MM	7	$2,109	$301,286
Farmland loans - <$1MM	7	$822	$117,429
Farmland loans - <$100k	5	$142	$28,400
Farmland loans - $250k-1MM	2	$680	$340,000
Agriculture operations loans - <$1MM	1	$20	$20,000
Agriculture operations loans - <$100k	1	$20	$20,000