First Seacoast Bank Mortgage Rates, Fees & Info

Dover, NH

LEI: 549300QHFDNFAMLATM94

Tax ID: 02-0235380

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Mortgage Data

Bank Data

Review & Overview

First Seacoast Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. First Seacoast Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Portland, Laconia, Manchester, and Lebanon among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Seacoast 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

184

Origination Dollar Volume (All Markets)

$71,510,000

Employee count

81

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
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 124 $47,900,000 $386,290 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 36 $14,920,000 $414,444 $0 0.00%
Outside of Metro Areas 10 $3,360,000 $336,000 $0 0.00%
Laconia, NH (FHA|USDA|VA) 8 $2,880,000 $360,000 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
Lebanon, NH-VT (FHA|USDA|VA) 1 $585,000 $585,000 $0 0.00%
BANGOR, ME (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
Concord, NH (FHA|USDA|VA) 2 $520,000 $260,000 $0 0.00%
Keene, NH (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
First Seacoast Bank's top markets include Boston, Portland, Laconia, Manchester, and Lebanon among others.

Their top states include:
  • New Hampshire (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 184 $71,510,000 $388,641 $0 0.00%

    For 2021, First Seacoast Bank's most frequently originated type of loan was Conventional, with 184 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 84 $42,570,000 $506,786 $0 0.00%
    Cash Out Refi 63 $19,525,000 $309,921 $0 0.00%
    Refi 34 $7,930,000 $233,235 $0 0.00%
    Home Improvement 2 $1,310,000 $655,000 $0 0.00%
    Other 1 $175,000 $175,000 $0 0.00%

    For 2021, First Seacoast Bank's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Cash Out Refi, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 184 $71,510,000 $388,641 $0 0.00%

    For 2021, First Seacoast Bank's most frequently cited loan duration was Other, with 184 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 84 $23,340,000 $277,857 $0 0.00%
    $100k-200k 38 $5,740,000 $151,053 $0 0.00%
    $600k-1MM 23 $16,755,000 $728,478 $0 0.00%
    $400k-600k 22 $10,330,000 $469,545 $0 0.00%
    $100,000 or less 9 $655,000 $72,778 $0 0.00%
    $1MM+ 8 $14,690,000 $1,836,250 $0 0.00%

    2021 saw First Seacoast Bank place emphasis on $200k-400k loans with 84 originations, totaling $23,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $13,065,000 $353,108 $0 0.00%
    $50k-75k 36 $7,900,000 $219,444 $0 0.00%
    $150k-250k 34 $13,030,000 $383,235 $0 0.00%
    $75k-100k 30 $8,150,000 $271,667 $0 0.00%
    $250k+ 28 $22,960,000 $820,000 $0 0.00%
    $50k or less 14 $2,240,000 $160,000 $0 0.00%

    First Seacoast Bank lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $50k-75k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 184 $71,510,000 $388,641 $0 0.00%

    First Seacoast Bank lent most frequently to those with DTI ratios of Exempt%, with 184 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 163 $61,965,000 $380,153 $0 0.00%
    Not provided 13 $3,945,000 $303,462 $0 0.00%
    Not applicable 3 $3,725,000 $1,241,667 $0 0.00%
    Asian 3 $1,385,000 $461,667 $0 0.00%
    Black 1 $255,000 $255,000 $0 0.00%
    American Indian 1 $235,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.17%

    First Seacoast Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    53.26%

    First Seacoast Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 184 $71,510,000 $388,641

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    184 $71,510,000 $388,641

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 1 2.9%
    FIRST HORIZON BANK Conventional home mortgage Closing on a mortgage 2 5.9%
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 5.9%
    FIRST HORIZON BANK VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 2.9%
    FIRST HORIZON BANK Other type of mortgage Closing on a mortgage 2 5.9%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 10 29.4%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 2.9%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 6 17.6%
    FIRST HORIZON BANK FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 2.9%
    FIRST HORIZON BANK FHA mortgage Closing on a mortgage 1 2.9%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 2 5.9%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 5.9%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Seacoast Bank 1650 Woodbury Avenue Portsmouth, NH 3801 Full Service B&M $54,113
    First Seacoast Bank 17 Wakefield Street Rochester, NH 3867 Full Service B&M $41,795
    First Seacoast Bank 633 Central Ave Dover, NH 3820 Full Service B&M $167,032
    First Seacoast Bank 7a Mill Road Durham, NH 3824 Full Service B&M $58,688
    First Seacoast Bank Rte. 125 Barrington, NH 3825 Full Service B&M $60,433

    For 2021, First Seacoast Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,720
    Net interest income $14,485
    Total noninterest income $1,475
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $223
    Trading account gains and fees $0
    Additional Noninterest Income $1,252
    Pre-tax net operating income $2,677
    Securities gains (or losses, -) $548
    Income before extraordinary items $2,624
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,624
    Minority interest net income $0
    Net income $2,624
    Sale, conversion, retirement of capital stock, net $-29
    Net operating income $2,180

    First Seacoast Bank's gross interest income from loans was $15,720,000.
    First Seacoast Bank's net interest income from loans was $14,485,000.
    First Seacoast Bank's fee based income from loans was $223,000.
    First Seacoast Bank's net income from loans was $2,624,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,235
    Provision for credit losses $205
    Total noninterest expense $13,078
    Salaries and employee benefits $7,796
    Premises and equipment expense $1,184
    Additional noninterest expense $4,098
    Applicable income taxes $601
    Net charge-offs $-43
    Cash dividends $0

    First Seacoast Bank's interest expense for loans was $1,235,000.
    First Seacoast Bank's payroll and benefits expense were $7,796,000.
    First Seacoast Bank's property, plant and equipment expenses $1,184,000.

    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 1.0%
    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 $404,587
    Deposits held in domestic offices $404,587
    Deposits by Individuals, partnerships, and corporations $404,566
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $21
    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 $219,874
    Demand deposits $131,718
    Nontransaction accounts $184,713
    Money market deposit accounts (MMDAs) $48,198
    Other savings deposits (excluding MMDAs) $96,290
    Total time deposits $40,225
    Total time and savings deposits $272,869
    Noninterest-bearing deposits $109,968
    Interest-bearing deposits $294,619
    Retail deposits $380,207
    IRAs and Keogh plan accounts $5,116
    Brokered deposits $18,100
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $487,456
    Cash & Balances due from depository institutions $7,883
    Interest-bearing balances $6,747
    Total securities $88,293
    Federal funds sold & reverse repurchase $0
    Net loans and leases $373,297
    Loan and leases loss allowance $3,590
    Trading account assets $0
    Bank premises and fixed assets $4,566
    Other real estate owned $0
    Goodwill and other intangibles $656
    All other assets $12,761

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $487,456
    Total Liabilities $436,875
    Total deposits $404,587
    Interest-bearing deposits $294,619
    Deposits held in domestic offices $404,587
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $29,462
    Subordinated debt $0
    All other liabilities $2,826

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $373,297
    Loan and leases loss allowance $3,590
    Total loans and leases (domestic) $376,887
    All real estate loans $344,808
    Real estate loans in domestic offices $344,808
    Construction and development loans $21,415
    Residential 1-4 family construction $10,396
    Other construction, all land development and other land $11,019
    Loans secured by nonfarm nonresidential properties $71,922
    Nonfarm nonresidential secured by owner-occupied properties $52,612
    Commercial real estate & other non-farm, non-residential $19,310
    Multifamily residential real estate $9,016
    1-4 family residential loans $242,455
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $26,849
    To non-U.S. addressees $0
    Loans to individuals $5,230
    Credit card loans $0
    Related Plans $9
    Consumer Auto Loans $115
    Other loans to individuals $5,106
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 Seacoast Bank had $373,297,000 of loans outstanding in 2021. $344,808,000 of loans were in real estate loans. $21,415,000 of loans were in development loans. $9,016,000 of loans were in multifamily mortgage loans. $242,455,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $115,000 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 164 $35,234 $214,841
    Nonfarm, nonresidential loans - <$100k 19 $665 $35,000
    Nonfarm, nonresidential loans - $100-250k 68 $7,938 $116,735
    Nonfarm, nonresidential loans - $250k-1MM 77 $26,631 $345,857
    Commercial & Industrial, US addressed loans - <$1MM 120 $8,392 $69,933
    Commercial & Industrial, US addressed loans - <$100k 69 $1,042 $15,101
    Commercial & Industrial, US addressed loans - $100-250k 22 $1,351 $61,409
    Commercial & Industrial, US addressed loans - $250k-1MM 29 $5,999 $206,862