First Federal Bank A Fsb Mortgage Rates, Fees & Info

Tuscaloosa, AL

LEI: 549300ROGHTFGYNKE773

Tax ID: 63-0414306

5 stars - out of 5 stars, based on 55 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

First Federal Bank A Fsb is a smaller bank specializing in Home Purchase loans. First Federal Bank A Fsb has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets include Tuscaloosa, Birmingham, Huntsville, Mobile, and Florence among others. First Federal Bank A Fsb has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. First Federal Bank A Fsb is typically an average fee lendor.


Originations

3,050

Origination Dollar Volume (All Markets)

$679,130,000

Employee count

118 Show all (26) awards

Relative Rate

First Federal Bank A Fsb's average 30 year fixed rate mortgage of loans were 2.99%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.16%.

Relative Fees

First Federal Bank A Fsb's average total fees for a 30 year fixed rate mortgage are $3,877.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
TUSCALOOSA, AL (FHA|USDA|VA) 1,197 $272,815,000 $227,916 $3,767 2.97%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 559 $140,425,000 $251,208 $3,867 2.95%
HUNTSVILLE, AL (FHA|USDA|VA) 176 $41,120,000 $233,636 $3,975 2.97%
MOBILE, AL (FHA|USDA|VA) 195 $37,325,000 $191,410 $3,254 2.96%
FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) 194 $35,510,000 $183,041 $3,864 2.91%
GADSDEN, AL (FHA|USDA|VA) 194 $35,300,000 $181,959 $3,239 2.94%
DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 128 $34,230,000 $267,422 $3,487 3.00%
Cullman, AL (FHA|USDA|VA) 140 $23,740,000 $169,571 $3,020 2.90%
Outside of Metro Areas 76 $14,350,000 $188,816 $3,382 2.93%
Albertville, AL (FHA|USDA|VA) 28 $5,440,000 $194,286 $3,044 3.01%
DECATUR, AL (FHA|USDA|VA) 26 $4,380,000 $168,462 $3,705 2.88%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 14 $3,830,000 $273,571 $3,135 2.79%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 6 $2,670,000 $445,000 $5,958 3.15%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN (FHA|USDA|VA) 8 $2,670,000 $333,750 $3,287 2.78%
MONTGOMERY, AL (FHA|USDA|VA) 13 $2,585,000 $198,846 $2,696 2.66%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 11 $2,505,000 $227,727 $3,575 2.92%
Fort Payne, AL (FHA|USDA|VA) 11 $1,905,000 $173,182 $2,787 3.09%
Talladega-Sylacauga, AL (FHA|USDA|VA) 9 $1,705,000 $189,444 $3,642 2.76%
Jasper, AL (FHA|USDA|VA) 6 $970,000 $161,667 $3,266 2.79%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 2 $890,000 $445,000 $8,135 3.13%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $820,000 $410,000 $3,729 3.31%
BATON ROUGE, LA (FHA|USDA|VA) 3 $815,000 $271,667 $2,957 2.92%
AUBURN-OPELIKA, AL (FHA|USDA|VA) 4 $800,000 $200,000 $3,081 2.94%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $710,000 $355,000 $2,860 3.00%
PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $620,000 $310,000 $2,961 2.75%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $600,000 $300,000 $5,713 2.56%
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) 3 $585,000 $195,000 $4,927 3.42%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $555,000 $555,000 $5,509 3.00%
JACKSON, MS (FHA|USDA|VA) 1 $545,000 $545,000 $3,667 3.25%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $545,000 $545,000 $4,501 2.75%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $535,000 $535,000 $4,086 2.63%
LONGVIEW, TX (FHA|USDA|VA) 1 $525,000 $525,000 $5,358 3.00%
ATHENS-CLARKE COUNTY, GA (FHA|USDA|VA) 1 $435,000 $435,000 $53 2.63%
RALEIGH-CARY, NC (FHA|USDA|VA) 1 $415,000 $415,000 $3,136 2.88%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $405,000 $405,000 $2,926 3.25%
Columbus, MS (FHA|USDA|VA) 2 $390,000 $195,000 $4,915 2.81%
Scottsboro, AL (FHA|USDA|VA) 3 $385,000 $128,333 $4,118 3.04%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $380,000 $190,000 $4,130 2.88%
GULFPORT-BILOXI, MS (FHA|USDA|VA) 2 $360,000 $180,000 $3,079 3.13%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $355,000 $355,000 $4,334 3.50%
Lawrenceburg, TN (FHA|USDA|VA) 2 $320,000 $160,000 $4,454 2.38%
Bedford, IN (FHA|USDA|VA) 1 $305,000 $305,000 $4,567 2.75%
AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) 1 $285,000 $285,000 $3,728 2.88%
ROME, GA (FHA|USDA|VA) 1 $275,000 $275,000 $9,644 3.00%
HATTIESBURG, MS (FHA|USDA|VA) 1 $265,000 $265,000 $3,123 2.88%
Tullahoma-Manchester, TN (FHA|USDA|VA) 1 $245,000 $245,000 $3,157 2.88%
ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $245,000 $245,000 $2,212 3.13%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $225,000 $225,000 $3,218 3.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,699 3.50%
Danville, KY (FHA|USDA|VA) 1 $205,000 $205,000 $3,157 2.88%
LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $195,000 $195,000 $4,113 3.38%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $195,000 $195,000 $1,978 2.50%
Alexander City, AL (FHA|USDA|VA) 1 $175,000 $175,000 $4,155 3.00%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 1 $145,000 $145,000 $3,877 2.50%
CHARLESTON, WV (FHA|USDA|VA) 1 $145,000 $145,000 $3,792 2.50%
WICHITA, KS (FHA|USDA|VA) 1 $135,000 $135,000 $1,799 2.63%
Selma, AL (FHA|USDA|VA) 1 $125,000 $125,000 $4,925 2.63%
Starkville, MS (FHA|USDA|VA) 1 $115,000 $115,000 $2,497 2.75%
HAMMOND, LA (FHA|USDA|VA) 1 $115,000 $115,000 $4,502 4.38%
PANAMA CITY, FL (FHA|USDA|VA) 1 $65,000 $65,000 $2,562 2.75%

First Federal Bank A Fsb's top markets include Tuscaloosa, Birmingham, Huntsville, Mobile, and Florence among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 2,107 $479,895,000 $227,762 $2,989 3.01%
FHA 586 $117,760,000 $200,956 $5,224 2.86%
VA 188 $53,710,000 $285,691 $5,403 2.79%
USDA 169 $27,765,000 $164,290 $4,804 2.77%

For the 2021 period, First Federal Bank A Fsb's most frequently originated loan type of loans were Conventional, with 2,107 originations. Their 2nd most popular type is FHA, with 586 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 2,257 $506,275,000 $224,313 $3,816 2.98%
Refi 456 $102,990,000 $225,855 $3,075 2.71%
Cash Out Refi 326 $69,150,000 $212,117 $3,564 3.04%
Other 11 $715,000 $65,000 $962 4.44%

For the 2021, First Federal Bank A Fsb's most frequently cited loan purpose of loans were Home Purchase, with 2,257 originations. The 2nd most popular reason of loans were Refi, with 456 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 2,658 $617,360,000 $232,265 $3,877 2.99%
15 Year 227 $43,415,000 $191,256 $2,667 2.54%
10 Year 93 $3,425,000 $36,828 $589 3.13%
20 Year 65 $13,935,000 $214,385 $3,089 2.83%
Other 6 $960,000 $160,000 $3,378 2.92%
1 Year 1 $35,000 $35,000 $1,531 4.25%

For the 2021, First Federal Bank A Fsb's most frequently cited loan length of loans were 30 Year, with 2,658 originations. The 2nd most popular length of loans were 15 Year, with 227 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 2,154 $483,200,000 $224,327
$2k-3k 319 $61,755,000 $193,589
$1k-2k 310 $49,250,000 $158,871
$3k-4k 231 $67,995,000 $294,351
$5k+ 36 $16,930,000 $470,278

$3,877 of loans were First Federal Bank A Fsb's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 2,154 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 1,434 $337,730,000 $235,516
3-4% 966 $204,280,000 $211,470
<2.5% 564 $122,890,000 $217,890
4-5% 80 $13,890,000 $173,625
5-6% 6 $340,000 $56,667

During 2021, First Federal Bank A Fsb's average interest rate of loans were 2.99%, while their most frequently originated rate bucket of loans were 2.5-3%, with 1,434 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 1,281 $350,305,000 $273,462 $4,105 2.91%
$100k-200k 1,220 $186,970,000 $153,254 $3,087 2.94%
$100,000 or less 294 $17,530,000 $59,626 $1,795 3.20%
$400k-600k 243 $115,375,000 $474,794 $6,433 2.94%
$600k-1MM 10 $6,630,000 $663,000 $6,133 3.34%
$1MM+ 2 $2,320,000 $1,160,000 $4,280 3.25%

2021 saw First Federal Bank A Fsb place emphasis on $200k-400k loans with 1,281 originations, totaling $350,305,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 807 $158,445,000 $196,338 $3,844 2.95%
$50k or less 702 $102,730,000 $146,339 $3,122 2.90%
$100k-150k 573 $156,525,000 $273,168 $3,466 2.94%
$75k-100k 541 $130,825,000 $241,821 $3,576 2.94%
$150k-250k 318 $91,530,000 $287,830 $5,011 3.09%
$250k+ 108 $38,900,000 $360,185 $3,492 3.07%

First Federal Bank A Fsb lent most frequently to those with incomes in the $50k-75k range, with 807 originations. The second most popular income band? $50k or less, with 702 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 735 $157,655,000 $214,497 $3,957 2.94%
30-36% 585 $128,825,000 $220,214 $3,208 2.96%
<20% 352 $75,980,000 $215,852 $2,907 2.82%
50-60% 127 $29,175,000 $229,724 $5,532 2.85%
39% 121 $26,005,000 $214,917 $3,047 3.04%
41% 116 $27,350,000 $235,776 $3,521 3.15%
36% 111 $22,785,000 $205,270 $3,243 2.96%
37% 106 $23,380,000 $220,566 $3,325 3.03%
40% 106 $23,010,000 $217,075 $3,409 3.01%
44% 105 $23,805,000 $226,714 $6,126 3.01%
38% 103 $23,485,000 $228,010 $3,444 3.03%
43% 97 $24,515,000 $252,732 $3,315 3.04%
42% 94 $20,290,000 $215,851 $3,135 3.07%
45% 79 $19,815,000 $250,823 $4,247 2.94%
49% 58 $14,620,000 $252,069 $4,390 2.93%
46% 55 $13,345,000 $242,636 $4,059 2.94%
47% 54 $13,720,000 $254,074 $3,844 2.82%
48% 45 $11,075,000 $246,111 $4,179 2.91%
>60% 1 $295,000 $295,000 $2,031 2.50%

First Federal Bank A Fsb lent most frequently to those with DTI ratios of 20-30%, with 735 originations. The next most common DTI ratio? 30-36%, with 585 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,425 $539,485,000 $222,468 $3,558 2.95%
Black 357 $74,145,000 $207,689 $4,697 3.01%
Not provided 182 $44,100,000 $242,308 $3,181 2.98%
Asian 55 $13,875,000 $252,273 $3,212 2.95%
American Indian 13 $3,155,000 $242,692 $5,437 2.86%
Asian Indian 8 $2,180,000 $272,500 $3,567 2.73%
Filipino 3 $575,000 $191,667 $1,944 2.92%
Chinese 2 $410,000 $205,000 $2,089 3.63%
Native Hawaiian 2 $350,000 $175,000 $3,665 2.44%
Korean 1 $305,000 $305,000 $3,961 3.00%
Japanese 1 $305,000 $305,000 $2,375 3.25%
1 $245,000 $245,000 $2,406 2.88%

Approval Rates

Total approvals of all applications
96.08%

First Federal Bank A Fsb 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
75.15%

First Federal Bank A Fsb has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 3,050 $679,130,000 $222,666

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
3,050 $679,130,000 $222,666

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 77 $12,135,000 $157,597 $2,621 2.90%
40-60% 207 $44,305,000 $214,034 $2,975 2.78%
60-80% 835 $195,055,000 $233,599 $3,114 2.98%
80-100% 1,792 $414,110,000 $231,088 $4,104 2.94%
Over 100% 35 $10,015,000 $286,143 $10,408 2.84%
Under 20% 104 $3,510,000 $33,750 $497 3.49%

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 Applying for a mortgage or refinancing an existing mortgage 2 5.9%
FIRST HORIZON BANK Other type of mortgage Closing on a mortgage 2 5.9%
FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 6 17.6%
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 Trouble during payment process 10 29.4%
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%
FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 2.9%
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%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
First Federal Bank, A FSB 1300 Mcfarland Boulevard, N.E. Tuscaloosa, AL 35403 Full Service B&M $76,855
First Federal Bank, A FSB 2315 9th Street Tuscaloosa, AL 35401 Full Service B&M $27,553
First Federal Bank, A FSB 5301 Hwy 69 South Tuscaloosa, AL 35405 Full Service B&M $13,576

For 2021, First Federal Bank A Fsb had 3 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $4,611
Net interest income $4,111
Total noninterest income $25,261
Gross Fiduciary activities income $0
Service charges on deposit accounts $20
Trading account gains and fees $0
Additional Noninterest Income $25,241
Pre-tax net operating income $7,949
Securities gains (or losses, -) $0
Income before extraordinary items $7,437
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $7,437
Minority interest net income $0
Net income $7,437
Sale, conversion, retirement of capital stock, net $0
Net operating income $7,437

First Federal Bank A Fsb's gross interest income from loans was $4,611,000.
First Federal Bank A Fsb's net interest income from loans was $4,111,000.
First Federal Bank A Fsb's fee based income from loans was $20,000.
First Federal Bank A Fsb's net income from loans was $7,437,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $500
Provision for credit losses $0
Total noninterest expense $21,423
Salaries and employee benefits $14,538
Premises and equipment expense $1,318
Additional noninterest expense $5,567
Applicable income taxes $512
Net charge-offs $24
Cash dividends $10,000

First Federal Bank A Fsb's interest expense for loans was $500,000.
First Federal Bank A Fsb's payroll and benefits expense were $14,538,000.
First Federal Bank A Fsb's property, plant and equipment expenses $1,318,000.

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 1.0%
Credit card loans 0.0%
Other individual loans 1.0%
Auto loans 0.0%
Other consumer loans 2.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $97,468
Deposits held in domestic offices $97,468
Deposits by Individuals, partnerships, and corporations $92,128
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $178
Deposits by Commercial banks and other depository institutions in U.S. $5,162
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $27,679
Demand deposits $8,919
Nontransaction accounts $69,789
Money market deposit accounts (MMDAs) $9,166
Other savings deposits (excluding MMDAs) $5,691
Total time deposits $54,933
Total time and savings deposits $88,549
Noninterest-bearing deposits $8,183
Interest-bearing deposits $89,285
Retail deposits $83,875
IRAs and Keogh plan accounts $3,813
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $131,764
Cash & Balances due from depository institutions $12,545
Interest-bearing balances $11,673
Total securities $782
Federal funds sold & reverse repurchase $0
Net loans and leases $105,921
Loan and leases loss allowance $968
Trading account assets $0
Bank premises and fixed assets $3,977
Other real estate owned $0
Goodwill and other intangibles $619
All other assets $7,920

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $131,764
Total Liabilities $109,001
Total deposits $97,468
Interest-bearing deposits $89,285
Deposits held in domestic offices $97,468
% insured (estimated) $88
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $8,000
Subordinated debt $0
All other liabilities $3,533

Issued Loan Types

Type Value (in 000's)
Net loans and leases $105,921
Loan and leases loss allowance $968
Total loans and leases (domestic) $106,889
All real estate loans $106,323
Real estate loans in domestic offices $106,323
Construction and development loans $4,055
Residential 1-4 family construction $1,650
Other construction, all land development and other land $2,405
Loans secured by nonfarm nonresidential properties $0
Nonfarm nonresidential secured by owner-occupied properties $0
Commercial real estate & other non-farm, non-residential $0
Multifamily residential real estate $597
1-4 family residential loans $101,671
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $250
To non-U.S. addressees $0
Loans to individuals $223
Credit card loans $0
Related Plans $42
Consumer Auto Loans $74
Other loans to individuals $107
All other loans & leases $93
Loans to foreign governments and official institutions $0
Other loans $93
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 $506
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

First Federal Bank A FSB had $105,921,000 of loans outstanding in 2021. $106,323,000 of loans were in real estate loans. $4,055,000 of loans were in development loans. $597,000 of loans were in multifamily mortgage loans. $101,671,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $74,000 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Commercial & Industrial, US addressed loans - <$1MM 1 $250 $250,000
Commercial & Industrial, US addressed loans - $100-250k 1 $250 $250,000