First Federal Bank A Fsb Mortgage Rates, Fees & Info
Tuscaloosa, ALLEI: 549300ROGHTFGYNKE773
Tax ID: 63-0414306
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Bank Data
Review & 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. Their top markets by origination volume include: Tuscaloosa, Birmingham, Huntsville, Gadsden, and Daphne among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)First Federal Bank A Fsb 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. First Federal Bank A Fsb is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.59% | 11/17/24 |
| 30 Year Conventional Refi | 6.46% | 11/17/24 |
| 30 Year Cash-out Refi | 6.70% | 11/17/24 |
| 30 Year FHA Purchase | 7.38% | 11/17/24 |
| 30 Year FHA Refi | 7.22% | 11/17/24 |
| 30 Year VA Purchase | 6.29% | 11/17/24 |
| 30 Year VA Refi | 5.93% | 11/17/24 |
| 30 Year USDA Purchase | 6.76% | 11/17/24 |
| 15 Year Conventional Purchase | 6.21% | 11/17/24 |
| 15 Year Conventional Refi | 5.95% | 11/17/24 |
| 15 Year Cash-out Refi | 5.95% | 11/17/24 |
| 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 Federal Bank A Fsb Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
1,738Origination Dollar Volume (All Markets)
$293,340,000Employee count
96Awards
First Federal Bank A FSB - 2018
First Federal Bank A FSB is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| TUSCALOOSA, AL (FHA|USDA|VA) | 639 | $113,645,000 | $177,848 | $2,365 | 4.55% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 265 | $47,385,000 | $178,811 | $2,236 | 4.56% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 225 | $39,915,000 | $177,400 | $2,764 | 4.52% |
| GADSDEN, AL (FHA|USDA|VA) | 138 | $19,010,000 | $137,754 | $2,167 | 4.51% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 85 | $17,515,000 | $206,059 | $2,541 | 4.53% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 102 | $14,900,000 | $146,078 | $2,809 | 4.46% |
| MOBILE, AL (FHA|USDA|VA) | 105 | $13,975,000 | $133,095 | $2,428 | 4.60% |
| Cullman, AL (FHA|USDA|VA) | 50 | $6,540,000 | $130,800 | $2,288 | 4.58% |
| Outside of Metro Areas | 46 | $6,430,000 | $139,783 | $2,332 | 4.53% |
| DECATUR, AL (FHA|USDA|VA) | 16 | $2,660,000 | $166,250 | $2,650 | 4.48% |
| Albertville, AL (FHA|USDA|VA) | 15 | $1,975,000 | $131,667 | $2,107 | 4.56% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 7 | $1,515,000 | $216,429 | $3,487 | 4.34% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $3,548 | 4.54% |
| Fort Payne, AL (FHA|USDA|VA) | 7 | $825,000 | $117,857 | $2,848 | 4.59% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 6 | $630,000 | $105,000 | $1,773 | 4.38% |
| Jasper, AL (FHA|USDA|VA) | 5 | $525,000 | $105,000 | $1,679 | 4.53% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $4,675 | 4.44% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 4.50% |
| Sevierville, TN (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $3,475 | 5.25% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $4,484 | 5.00% |
| Scottsboro, AL (FHA|USDA|VA) | 3 | $365,000 | $121,667 | $543 | 4.58% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $13 | 4.25% |
| ROME, GA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $6,911 | 5.75% |
| TULSA, OK (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,475 | 4.38% |
| FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,952 | 4.13% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $6,473 | 4.38% |
| Atmore, AL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $6,323 | 4.88% |
| Alexander City, AL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,841 | 4.38% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,097 | 4.50% |
| MONTGOMERY, AL (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $1,557 | 4.69% |
| London, KY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,986 | 4.13% |
| DOTHAN, AL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,064 | 5.00% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,091 | 4.50% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,970 | 4.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 4.38% |
Similar Lenders
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Product Mix
For 2018, First Federal Bank A Fsb's most frequently originated type of loan was Conventional, with 981 originations. Their 2nd most popular type was FHA, with 467 originations.
Loan Reason
For 2018, First Federal Bank A Fsb's most frequently cited loan purpose was Home Purchase, with 1,601 originations. The 2nd most popular reason was Cash Out Refi, with 72 originations.
Loan Duration/Length
For 2018, First Federal Bank A Fsb's most frequently cited loan duration was 30 Year, with 1,544 originations. The 2nd most popular length was 10 Year, with 87 originations.
Origination Fees/Closing Costs
First Federal Bank A Fsb's average total fees were $2,581, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,310 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 1,391 | $238,515,000 | $171,470 |
| 3-4% | 221 | $38,205,000 | $172,873 |
| 5-6% | 116 | $15,810,000 | $136,293 |
| 6-7% | 10 | $810,000 | $81,000 |
During 2018, First Federal Bank A Fsb's average interest rate for loans was 4.53%, while their most frequently originated rate bucket for loans was 4-5%, with 1,391 originations.
Loan Sizing
2018 saw First Federal Bank A Fsb place emphasis on $100k-200k loans with 881 originations, totaling $129,645,000 in origination value.
Applicant Income
First Federal Bank A Fsb lent most frequently to those with incomes in the $50k-75k range, with 534 originations. The second most popular income band? $50k or less, with 486 originations.
Applicant Debt to Income Ratio
First Federal Bank A Fsb lent most frequently to those with DTI ratios of 20-30%, with 386 originations. The next most common DTI ratio? 30-36%, with 311 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.46%
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 origination76.87%
First Federal Bank A Fsb has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,738 | $293,340,000 | $168,780 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,738 | $293,340,000 | $168,780 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Problem with a credit reporting company's investigation into an existing problem | 1 | 7.1% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Incorrect information on your report | 1 | 7.1% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 1 | 7.1% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 5 | 35.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 3 | 21.4% |
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 | $51,096 |
| First Federal Bank, A FSB | 2315 9th Street Tuscaloosa, AL 35401 | Full Service B&M | $21,184 |
| First Federal Bank, A FSB | 5301 Hwy 69 South Tuscaloosa, AL 35405 | Full Service B&M | $16,281 |
For 2018, First Federal Bank A Fsb had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $4,718 |
| Net interest income | $3,504 |
| Total noninterest income | $9,044 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $30 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $9,014 |
| Pre-tax net operating income | $323 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $335 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $335 |
| Minority interest net income | $0 |
| Net income | $335 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $335 |
First Federal Bank A Fsb's gross interest income from loans was $4,718,000.
First Federal Bank A Fsb's net interest income from loans was $3,504,000.
First Federal Bank A Fsb's fee based income from loans was $30,000.
First Federal Bank A Fsb's net income from loans was $335,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,214 |
| Provision for credit losses | $71 |
| Total noninterest expense | $12,154 |
| Salaries and employee benefits | $7,767 |
| Premises and equipment expense | $1,237 |
| Additional noninterest expense | $3,150 |
| Applicable income taxes | $-12 |
| Net charge-offs | $-14 |
| Cash dividends | $193 |
First Federal Bank A Fsb's interest expense for loans was $1,214,000.
First Federal Bank A Fsb's payroll and benefits expense were $7,767,000.
First Federal Bank A Fsb's property, plant and equipment expenses $1,237,000.
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 | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 1.0% |
| All other family | 1.0% |
| 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 | $94,848 |
| Deposits held in domestic offices | $94,848 |
| Deposits by Individuals, partnerships, and corporations | $94,673 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $175 |
| 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 | $25,016 |
| Demand deposits | $10,961 |
| Nontransaction accounts | $69,832 |
| Money market deposit accounts (MMDAs) | $11,184 |
| Other savings deposits (excluding MMDAs) | $3,468 |
| Total time deposits | $55,181 |
| Total time and savings deposits | $83,887 |
| Noninterest-bearing deposits | $9,375 |
| Interest-bearing deposits | $85,473 |
| Retail deposits | $83,366 |
| IRAs and Keogh plan accounts | $2,853 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $124,485 |
| Cash & Balances due from depository institutions | $7,119 |
| Interest-bearing balances | $6,336 |
| Total securities | $914 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $103,498 |
| Loan and leases loss allowance | $492 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,163 |
| Other real estate owned | $727 |
| Goodwill and other intangibles | $792 |
| All other assets | $7,272 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $124,485 |
| Total Liabilities | $111,568 |
| Total deposits | $94,848 |
| Interest-bearing deposits | $85,473 |
| Deposits held in domestic offices | $94,848 |
| % insured (estimated) | $82 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $14,800 |
| Subordinated debt | $0 |
| All other liabilities | $1,920 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $103,498 |
| Loan and leases loss allowance | $492 |
| Total loans and leases (domestic) | $103,990 |
| All real estate loans | $102,931 |
| Real estate loans in domestic offices | $102,931 |
| Construction and development loans | $6,534 |
| Residential 1-4 family construction | $2,499 |
| Other construction, all land development and other land | $4,035 |
| Loans secured by nonfarm nonresidential properties | $875 |
| Nonfarm nonresidential secured by owner-occupied properties | $792 |
| Commercial real estate & other non-farm, non-residential | $83 |
| Multifamily residential real estate | $682 |
| 1-4 family residential loans | $94,840 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $411 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $577 |
| Credit card loans | $0 |
| Related Plans | $63 |
| Consumer Auto Loans | $57 |
| Other loans to individuals | $457 |
| All other loans & leases | $71 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $71 |
| 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 | $1,204 |
| Non 1-4 family restructured loans & leases | $887 |
| Total loans and leases (foreign) | $0 |
First Federal Bank A FSB had $103,498,000 of loans outstanding in 2018. $102,931,000 of loans were in real estate loans. $6,534,000 of loans were in development loans. $682,000 of loans were in multifamily mortgage loans. $94,840,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $57,000 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 | 2 | $144 | $72,000 |
| Nonfarm, nonresidential loans - <$100k | 1 | $60 | $60,000 |
| Nonfarm, nonresidential loans - $100-250k | 1 | $84 | $84,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 7 | $411 | $58,714 |
| Commercial & Industrial, US addressed loans - <$100k | 5 | $191 | $38,200 |
| Commercial & Industrial, US addressed loans - $100-250k | 2 | $220 | $110,000 |