First National Bank Mortgage Rates, Fees & Info

Hamilton, AL

LEI: 549300OWLJ3NG26J9N79

Tax ID: 63-0700642

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

Review & Overview

First National Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. First National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Jasper, Daphne, and Florence among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

First National Bank 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.

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.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
15 Year Conventional Purchase	7.08%	11/21/24
15 Year Conventional Refi	7.99%	11/21/24
15 Year Cash-out Refi	7.99%	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 National Bank Mortgage Calculator

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This is not an official calculator from First National Bank. 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

145

Origination Dollar Volume (All Markets)

$11,125,000

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
Outside of Metro Areas	132	$10,070,000	$76,288	$2,006	4.71%
Jasper, AL (FHA\|USDA\|VA)	11	$725,000	$65,909	$1,482	5.55%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	4.95%
FLORENCE-MUSCLE SHOALS, AL (FHA\|USDA\|VA)	1	$135,000	$135,000	$1,469	3.39%

First National Bank's top markets include Jasper, Daphne, and Florence among others.

Their top states include:

Alabama (FHA|USDA|VA)

Mississippi (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	145	$11,125,000	$76,724	$1,961	4.77%

For 2021, First National Bank's most frequently originated type of loan was Conventional, with 145 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	49	$3,765,000	$76,837	$2,606	5.07%
Refi	47	$3,455,000	$73,511	$1,438	4.65%
Cash Out Refi	35	$3,235,000	$92,429	$1,881	4.42%
Other	11	$445,000	$40,455	$1,396	5.22%
Home Improvement	3	$225,000	$75,000	$2,010	4.14%

For 2021, First National Bank's most frequently cited loan purpose was Home Purchase, with 49 originations. The 2nd most popular reason was Refi, with 47 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
15 Year	77	$6,365,000	$82,662	$2,141	4.59%
Other	33	$2,165,000	$65,606	$1,396	5.42%
10 Year	30	$2,510,000	$83,667	$2,113	4.29%
5 Year	5	$85,000	$17,000	$941	6.05%

For 2021, First National Bank's most frequently cited loan duration was 15 Year, with 77 originations. The 2nd most popular length was Other, with 33 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	72	$3,920,000	$54,444
$1k-2k	45	$3,945,000	$87,667
$2k-3k	9	$1,725,000	$191,667

First National Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 72 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	79	$7,375,000	$93,354
5-6%	21	$1,195,000	$56,905
6-7%	18	$970,000	$53,889
4-5%	12	$1,010,000	$84,167
Over 8%	8	$250,000	$31,250
2.5-3%	5	$285,000	$57,000
7-8%	2	$40,000	$20,000

During 2021, First National Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 79 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	111	$5,665,000	$51,036	$1,717	4.96%
$100k-200k	29	$3,955,000	$136,379	$2,638	4.21%
$200k-400k	3	$685,000	$228,333	$3,987	3.91%
$400k-600k	2	$820,000	$410,000	$2,177	3.37%

2021 saw First National Bank place emphasis on $100,000 or less loans with 111 originations, totaling $5,665,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	58	$3,010,000	$51,897	$1,694	4.87%
$50k-75k	35	$2,305,000	$65,857	$1,992	4.80%
$75k-100k	19	$1,795,000	$94,474	$1,946	4.78%
$100k-150k	16	$1,660,000	$103,750	$2,422	4.61%
$150k-250k	9	$1,225,000	$136,111	$2,576	4.63%
$250k+	3	$415,000	$138,333	$2,822	3.56%

First National Bank lent most frequently to those with incomes in the $50k or less range, with 58 originations. The second most popular income band? $50k-75k, with 35 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	37	$2,775,000	$75,000	$1,856	4.87%
30-36%	26	$1,800,000	$69,231	$1,888	4.98%
<20%	23	$1,365,000	$59,348	$1,928	4.73%
50-60%	11	$655,000	$59,545	$1,811	4.80%
>60%	9	$595,000	$66,111	$1,957	5.13%
38%	4	$240,000	$60,000	$1,915	4.05%
36%	4	$280,000	$70,000	$1,448	4.43%
40%	3	$355,000	$118,333	$3,119	3.89%
41%	3	$305,000	$101,667	$2,663	4.46%
42%	3	$345,000	$115,000	$2,200	4.16%
43%	3	$395,000	$131,667	$2,282	3.66%
47%	3	$415,000	$138,333	$3,044	5.17%
37%	3	$215,000	$71,667	$1,293	4.61%
39%	3	$265,000	$88,333	$2,061	4.48%
46%	2	$210,000	$105,000	$2,955	6.12%
48%	1	$25,000	$25,000	$1,340	4.99%
45%	1	$65,000	$65,000	$1,951	3.84%
49%	1	$105,000	$105,000	$2,590	3.84%

First National Bank lent most frequently to those with DTI ratios of 20-30%, with 37 originations. The next most common DTI ratio? 30-36%, with 26 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	137	$10,205,000	$74,489	$1,960	4.78%
Not applicable	5	$715,000	$143,000	$0	4.79%
Black	2	$140,000	$70,000	$2,828	4.64%
Not provided	1	$65,000	$65,000	$1,160	3.89%

Approval Rates

Total approvals of all applications
99.37%

First National 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
91.72%

First National Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	145	$11,125,000	$76,724

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	145	$11,125,000	$76,724

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	18	$690,000	$38,333	$1,243	5.21%
40-60%	32	$2,180,000	$68,125	$1,614	4.53%
60-80%	61	$4,875,000	$79,918	$2,079	4.69%
80-100%	32	$3,350,000	$104,688	$2,501	4.67%
Under 20%	2	$30,000	$15,000	$1,388	8.49%

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	1100 20th Street Haleyville, AL 35565	Full Service B&M	$43,587
First National Bank	15305 Ushwy 278 West Double Springs, AL 35553	Full Service B&M	$20,825
First National Bank	17871 Ushwy 18 E Berry, AL 35546	Full Service B&M	$11,774
First National Bank	31900 Northwest 1st Avenue Carbon Hill, AL 35549	Full Service B&M	$32,154
First National Bank	341 Military Street South Hamilton, AL 35570	Full Service B&M	$140,491
First National Bank	55220 Highway 17 Sulligent, AL 35586	Full Service B&M	$34,785
First National Bank	First Avenue And Main Street Parrish, AL 35580	Full Service B&M	$27,090

For 2021, First National Bank had 7 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$9,280
Net interest income	$8,671
Total noninterest income	$2,846
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$887
Trading account gains and fees	$0
Additional Noninterest Income	$1,959
Pre-tax net operating income	$3,245
Securities gains (or losses, -)	$0
Income before extraordinary items	$3,075
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$3,075
Minority interest net income	$0
Net income	$3,075
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$3,075

First National Bank's gross interest income from loans was $9,280,000.
First National Bank's net interest income from loans was $8,671,000.
First National Bank's fee based income from loans was $887,000.
First National Bank's net income from loans was $3,075,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$609
Provision for credit losses	$210
Total noninterest expense	$8,062
Salaries and employee benefits	$4,738
Premises and equipment expense	$1,054
Additional noninterest expense	$2,270
Applicable income taxes	$170
Net charge-offs	$175
Cash dividends	$2,046

First National Bank's interest expense for loans was $609,000.
First National Bank's payroll and benefits expense were $4,738,000.
First National Bank's property, plant and equipment expenses $1,054,000.

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	$335,154
Deposits held in domestic offices	$335,154
Deposits by Individuals, partnerships, and corporations	$279,065
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$56,089
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$188,270
Demand deposits	$129,754
Nontransaction accounts	$146,884
Money market deposit accounts (MMDAs)	$19,465
Other savings deposits (excluding MMDAs)	$69,711
Total time deposits	$57,708
Total time and savings deposits	$205,400
Noninterest-bearing deposits	$129,790
Interest-bearing deposits	$205,364
Retail deposits	$325,582
IRAs and Keogh plan accounts	$12,466
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$388,321
Cash & Balances due from depository institutions	$89,647
Interest-bearing balances	$74,679
Total securities	$103,487
Federal funds sold & reverse repurchase	$64,067
Net loans and leases	$112,249
Loan and leases loss allowance	$1,697
Trading account assets	$0
Bank premises and fixed assets	$4,418
Other real estate owned	$84
Goodwill and other intangibles	$0
All other assets	$14,369

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$388,321
Total Liabilities	$335,413
Total deposits	$335,154
Interest-bearing deposits	$205,364
Deposits held in domestic offices	$335,154
% insured (estimated)	$80
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$259

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$112,249
Loan and leases loss allowance	$1,697
Total loans and leases (domestic)	$113,946
All real estate loans	$66,912
Real estate loans in domestic offices	$66,912
Construction and development loans	$4,487
Residential 1-4 family construction	$413
Other construction, all land development and other land	$4,074
Loans secured by nonfarm nonresidential properties	$25,168
Nonfarm nonresidential secured by owner-occupied properties	$21,140
Commercial real estate & other non-farm, non-residential	$4,028
Multifamily residential real estate	$0
1-4 family residential loans	$37,001
Farmland loans	$256
Loans held in foreign offices	$0
Farm loans	$182
Commercial and industrial loans	$15,327
To non-U.S. addressees	$0
Loans to individuals	$20,186
Credit card loans	$0
Related Plans	$2,676
Consumer Auto Loans	$5,327
Other loans to individuals	$12,183
All other loans & leases	$11,339
Loans to foreign governments and official institutions	$0
Other loans	$1,362
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	$480
Non 1-4 family restructured loans & leases	$4
Total loans and leases (foreign)	$0

First National Bank had $112,249,000 of loans outstanding in 2021. $66,912,000 of loans were in real estate loans. $4,487,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $37,001,000 of loans were in 1-4 family mortgage loans. $182,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,327,000 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	69	$10,860	$157,391
Nonfarm, nonresidential loans - <$100k	32	$1,402	$43,813
Nonfarm, nonresidential loans - $100-250k	17	$2,321	$136,529
Nonfarm, nonresidential loans - $250k-1MM	20	$7,137	$356,850
Commercial & Industrial, US addressed loans - <$1MM	159	$11,328	$71,245
Commercial & Industrial, US addressed loans - <$100k	123	$3,774	$30,683
Commercial & Industrial, US addressed loans - $100-250k	16	$1,392	$87,000
Commercial & Industrial, US addressed loans - $250k-1MM	20	$6,162	$308,100
Farmland loans - <$1MM	4	$256	$64,000
Farmland loans - <$100k	4	$256	$64,000
Agriculture operations loans - <$1MM	5	$182	$36,400
Agriculture operations loans - <$100k	5	$182	$36,400