First Bank Mortgage Rates, Fees & Info
Mccomb, MSLEI: 549300P6FMUCIYH31R36
Tax ID: 64-0226300
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Mortgage Data
Bank Data
Review & Overview
First Bank is a smaller bank specializing in Home Purchase and Refi loans. First Bank 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: Hattiesburg, Mccomb, Jackson, Brookhaven, and Daphne among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)First Bank has an above 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
258Origination Dollar Volume (All Markets)
$48,170,000Employee count
125Top 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 |
|---|---|---|---|---|---|
| HATTIESBURG, MS (FHA|USDA|VA) | 104 | $23,960,000 | $230,385 | $0 | 0.00% |
| McComb, MS (FHA|USDA|VA) | 60 | $6,970,000 | $116,167 | $0 | 0.00% |
| JACKSON, MS (FHA|USDA|VA) | 25 | $5,985,000 | $239,400 | $0 | 0.00% |
| Outside of Metro Areas | 25 | $2,615,000 | $104,600 | $0 | 0.00% |
| Brookhaven, MS (FHA|USDA|VA) | 23 | $2,265,000 | $98,478 | $0 | 0.00% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 3 | $1,655,000 | $551,667 | $0 | 0.00% |
| Laurel, MS (FHA|USDA|VA) | 5 | $1,035,000 | $207,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $0 | 0.00% |
| Natchez, MS-LA (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 0.00% |
| ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| Cleveland, MS (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $0 | 0.00% |
| Vicksburg, MS (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| TULSA, OK (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Oxford, MS (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| LAKE CHARLES, LA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| Picayune, MS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 255 | $47,755,000 | $187,275 | $0 | 0.00% |
| FHA | 2 | $290,000 | $145,000 | $0 | 0.00% |
| VA | 1 | $125,000 | $125,000 | $0 | 0.00% |
For 2020, First Bank's most frequently originated type of loan was Conventional, with 255 originations. Their 2nd most popular type was FHA, with 2 originations.
Loan Reason
For 2020, First Bank's most frequently cited loan purpose was Home Purchase, with 132 originations. The 2nd most popular reason was Refi, with 112 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 258 | $48,170,000 | $186,705 | $0 | 0.00% |
For 2020, First Bank's most frequently cited loan duration was Other, with 258 originations.
Loan Sizing
2020 saw First Bank place emphasis on $100,000 or less loans with 93 originations, totaling $5,155,000 in origination value.
Applicant Income
First Bank lent most frequently to those with incomes in the $50k-75k range, with 57 originations. The second most popular income band? $100k-150k, with 43 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 258 | $48,170,000 | $186,705 | $0 | 0.00% |
First Bank lent most frequently to those with DTI ratios of Exempt%, with 258 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.27%
First Bank has an average approval rate.
Pick Rate
Approvals leading to origination78.68%
First Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 258 | $48,170,000 | $186,705 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| 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 | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Closing on a mortgage | 2 | 13.3% |
| FIRST HORIZON BANK | Other type of mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First Bank | 103 Edgewood Drive Mccomb, MS 39648 | Full Service B&M | $14,153 |
| First Bank | 105 South Broadway Street Mccomb, MS 39648 | Full Service B&M | $131,384 |
| First Bank | 1903 Main St Madison, MS 39110 | Full Service B&M | $15,639 |
| First Bank | 200 South Whitworth Avenue Brookhaven, MS 39601 | Full Service B&M | $27,911 |
| First Bank | 284 East Bay Street Magnolia, MS 39652 | Full Service B&M | $75,307 |
| First Bank | 315 Third Street Mccomb, MS 39648 | Full Service B&M | $1,389 |
| First Bank | 3301 Hardy Street Hattiesburg, MS 39402 | Full Service B&M | $35,566 |
| First Bank | 410 East Broad Street Monticello, MS 39654 | Full Service B&M | $50,779 |
| First Bank | 6300 Highway 98 West Hattiesburg, MS 39402 | Full Service B&M | $20,397 |
| First Bank | 750 Brookway Boulevard Brookhaven, MS 39601 | Full Service B&M | $45,076 |
| First Bank | 832 East Main Street Liberty, MS 39645 | Full Service B&M | $49,799 |
| First Bank | Delaware Avenue And Price Street Mccomb, MS 39648 | Full Service B&M | $1,986 |
| First Bank | Liberty And Railroad Avenues Osyka, MS 39657 | Full Service B&M | $7,060 |
| First Bank | Robb Street Summit, MS 39666 | Full Service B&M | $56,008 |
For 2020, First Bank had 14 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $21,347 |
| Net interest income | $15,779 |
| Total noninterest income | $5,474 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,079 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,395 |
| Pre-tax net operating income | $3,479 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,479 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,479 |
| Minority interest net income | $0 |
| Net income | $3,479 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,479 |
First Bank's gross interest income from loans was $21,347,000.
First Bank's net interest income from loans was $15,779,000.
First Bank's fee based income from loans was $1,079,000.
First Bank's net income from loans was $3,479,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $5,568 |
| Provision for credit losses | $1,331 |
| Total noninterest expense | $16,443 |
| Salaries and employee benefits | $9,159 |
| Premises and equipment expense | $3,170 |
| Additional noninterest expense | $4,114 |
| Applicable income taxes | $0 |
| Net charge-offs | $1,315 |
| Cash dividends | $3,262 |
First Bank's interest expense for loans was $5,568,000.
First Bank's payroll and benefits expense were $9,159,000.
First Bank's property, plant and equipment expenses $3,170,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 1.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 2.0% |
| HELOC loans | 6.0% |
| All other family | 2.0% |
| Commercial & industrial loans | 1.0% |
| 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 | $522,337 |
| Deposits held in domestic offices | $522,337 |
| Deposits by Individuals, partnerships, and corporations | $384,787 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $136,805 |
| Deposits by Commercial banks and other depository institutions in U.S. | $745 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $155,906 |
| Demand deposits | $59,121 |
| Nontransaction accounts | $366,431 |
| Money market deposit accounts (MMDAs) | $235,935 |
| Other savings deposits (excluding MMDAs) | $39,629 |
| Total time deposits | $90,865 |
| Total time and savings deposits | $463,216 |
| Noninterest-bearing deposits | $59,127 |
| Interest-bearing deposits | $463,210 |
| Retail deposits | $498,764 |
| IRAs and Keogh plan accounts | $15,700 |
| Brokered deposits | $4,123 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $594,354 |
| Cash & Balances due from depository institutions | $99,018 |
| Interest-bearing balances | $86,052 |
| Total securities | $31,732 |
| Federal funds sold & reverse repurchase | $65,298 |
| Net loans and leases | $369,698 |
| Loan and leases loss allowance | $5,165 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $8,785 |
| Other real estate owned | $1,043 |
| Goodwill and other intangibles | $0 |
| All other assets | $18,780 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $594,354 |
| Total Liabilities | $534,748 |
| Total deposits | $522,337 |
| Interest-bearing deposits | $463,210 |
| Deposits held in domestic offices | $522,337 |
| % insured (estimated) | $61 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $10,000 |
| Subordinated debt | $0 |
| All other liabilities | $2,411 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $369,698 |
| Loan and leases loss allowance | $5,165 |
| Total loans and leases (domestic) | $374,863 |
| All real estate loans | $318,286 |
| Real estate loans in domestic offices | $318,286 |
| Construction and development loans | $36,915 |
| Residential 1-4 family construction | $17,623 |
| Other construction, all land development and other land | $19,292 |
| Loans secured by nonfarm nonresidential properties | $127,644 |
| Nonfarm nonresidential secured by owner-occupied properties | $76,440 |
| Commercial real estate & other non-farm, non-residential | $51,204 |
| Multifamily residential real estate | $18,241 |
| 1-4 family residential loans | $121,233 |
| Farmland loans | $14,253 |
| Loans held in foreign offices | $0 |
| Farm loans | $1,425 |
| Commercial and industrial loans | $46,423 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $7,856 |
| Credit card loans | $301 |
| Related Plans | $392 |
| Consumer Auto Loans | $2,181 |
| Other loans to individuals | $4,982 |
| All other loans & leases | $872 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $872 |
| 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 | $2,477 |
| Non 1-4 family restructured loans & leases | $2,477 |
| Total loans and leases (foreign) | $0 |
First Bank had $369,698,000 of loans outstanding in 2020. $318,286,000 of loans were in real estate loans. $36,915,000 of loans were in development loans. $18,241,000 of loans were in multifamily mortgage loans. $121,233,000 of loans were in 1-4 family mortgage loans. $1,425,000 of loans were in farm loans. $301,000 of loans were in credit card loans. $2,181,000 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 | 181 | $35,050 | $193,646 |
| Nonfarm, nonresidential loans - <$100k | 55 | $1,944 | $35,345 |
| Nonfarm, nonresidential loans - $100-250k | 59 | $6,907 | $117,068 |
| Nonfarm, nonresidential loans - $250k-1MM | 67 | $26,199 | $391,030 |
| Commercial & Industrial, US addressed loans - <$1MM | 354 | $26,363 | $74,472 |
| Commercial & Industrial, US addressed loans - <$100k | 251 | $5,272 | $21,004 |
| Commercial & Industrial, US addressed loans - $100-250k | 63 | $7,110 | $112,857 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 40 | $13,981 | $349,525 |
| Farmland loans - <$1MM | 112 | $8,144 | $72,714 |
| Farmland loans - <$100k | 83 | $3,123 | $37,627 |
| Farmland loans - $100-250k | 20 | $2,674 | $133,700 |
| Farmland loans - $250k-1MM | 9 | $2,347 | $260,778 |
| Agriculture operations loans - <$1MM | 11 | $591 | $53,727 |
| Agriculture operations loans - <$100k | 9 | $201 | $22,333 |
| Agriculture operations loans - $100-250k | 1 | $113 | $113,000 |
| Agriculture operations loans - $250k-1MM | 1 | $277 | $277,000 |