First Federal Bank A Fsb Mortgage Rates, Fees & Info
Tuscaloosa, ALLEI: 549300ROGHTFGYNKE773
Tax ID: 63-0414306
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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, Florence, and Gadsden among others. We have data for 42 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% | 4/21/24 |
| 30 Year Conventional Refi | 6.46% | 4/21/24 |
| 30 Year Cash-out Refi | 6.70% | 4/21/24 |
| 30 Year FHA Purchase | 7.38% | 4/21/24 |
| 30 Year FHA Refi | 7.22% | 4/21/24 |
| 30 Year VA Purchase | 6.29% | 4/21/24 |
| 30 Year VA Refi | 5.93% | 4/21/24 |
| 30 Year USDA Purchase | 6.76% | 4/21/24 |
| 15 Year Conventional Purchase | 6.21% | 4/21/24 |
| 15 Year Conventional Refi | 5.95% | 4/21/24 |
| 15 Year Cash-out Refi | 5.95% | 4/21/24 |
| 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 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
1,892Origination Dollar Volume (All Markets)
$340,510,000Employee count
102Awards
First Federal Bank A FSB - 2019
First Federal Bank A FSB is a 2019 , due to their low .
For 2019, 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) | 749 | $141,905,000 | $189,459 | $2,962 | 4.04% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 261 | $50,615,000 | $193,927 | $3,141 | 4.08% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 174 | $33,200,000 | $190,805 | $3,436 | 4.04% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 150 | $21,490,000 | $143,267 | $2,829 | 3.98% |
| GADSDEN, AL (FHA|USDA|VA) | 130 | $19,770,000 | $152,077 | $2,881 | 3.94% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 81 | $18,665,000 | $230,432 | $2,802 | 4.22% |
| MOBILE, AL (FHA|USDA|VA) | 95 | $16,395,000 | $172,579 | $2,910 | 4.07% |
| Cullman, AL (FHA|USDA|VA) | 110 | $15,770,000 | $143,364 | $2,373 | 4.12% |
| Outside of Metro Areas | 50 | $7,590,000 | $151,800 | $2,807 | 4.05% |
| DECATUR, AL (FHA|USDA|VA) | 16 | $2,160,000 | $135,000 | $2,549 | 3.82% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 9 | $1,835,000 | $203,889 | $4,576 | 3.99% |
| Albertville, AL (FHA|USDA|VA) | 11 | $1,715,000 | $155,909 | $2,848 | 3.88% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 7 | $1,055,000 | $150,714 | $3,174 | 3.80% |
| Fort Payne, AL (FHA|USDA|VA) | 10 | $920,000 | $92,000 | $2,260 | 4.29% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 3 | $845,000 | $281,667 | $3,082 | 4.58% |
| Jasper, AL (FHA|USDA|VA) | 5 | $645,000 | $129,000 | $77,255 | 3.93% |
| KNOXVILLE, TN (FHA|USDA|VA) | 2 | $490,000 | $245,000 | $2,149 | 3.50% |
| HATTIESBURG, MS (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,414 | 4.13% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $3,631 | 4.50% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $2,565 | 4.56% |
| AMES, IA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $1,295 | 3.50% |
| Troy, AL (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $3,787 | 5.00% |
| GREENVILLE-ANDERSON, SC (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $1,263 | 3.63% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,421 | 4.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $2,823 | 3.88% |
| Scottsboro, AL (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $3,395 | 4.31% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $5,113 | 3.13% |
| Starkville, MS (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $2,121 | 4.25% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,074 | 3.50% |
| Danville, VA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $1,260 | 4.00% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $190,000 | $95,000 | $4,386 | 3.94% |
| Hobbs, NM (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $3,457 | 4.13% |
| MONTGOMERY, AL (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $3,091 | 4.50% |
| Glasgow, KY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $545 | 4.63% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $2,347 | 3.63% |
| HOMOSASSA SPRINGS, FL (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $6,131 | 3.63% |
| EL PASO, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,463 | 5.00% |
| Alexander City, AL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $3,171 | 3.63% |
| Cedartown, GA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,555 | 3.38% |
| SAN ANGELO, TX (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,638 | 3.75% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,911 | 3.88% |
| DOTHAN, AL (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $2,579 | 4.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against First Federal Bank A FSB based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2019, First Federal Bank A Fsb's most frequently originated type of loan was Conventional, with 1,174 originations. Their 2nd most popular type was FHA, with 465 originations.
Loan Reason
For 2019, First Federal Bank A Fsb's most frequently cited loan purpose was Home Purchase, with 1,606 originations. The 2nd most popular reason was Cash Out Refi, with 141 originations.
Loan Duration/Length
For 2019, First Federal Bank A Fsb's most frequently cited loan duration was 30 Year, with 1,655 originations. The 2nd most popular length was 15 Year, with 94 originations.
Origination Fees/Closing Costs
First Federal Bank A Fsb's average total fees were $3,019, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 624 originations.
Interest Rates
During 2019, First Federal Bank A Fsb's average interest rate for loans was 4.03%, while their most frequently originated rate bucket for loans was 3-4%, with 1,100 originations.
Loan Sizing
2019 saw First Federal Bank A Fsb place emphasis on $100k-200k loans with 914 originations, totaling $137,470,000 in origination value.
Applicant Income
First Federal Bank A Fsb lent most frequently to those with incomes in the $50k-75k range, with 527 originations. The second most popular income band? $50k or less, with 501 originations.
Applicant Debt to Income Ratio
First Federal Bank A Fsb lent most frequently to those with DTI ratios of 20-30%, with 391 originations. The next most common DTI ratio? 30-36%, with 383 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.76%
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 origination79.60%
First Federal Bank A Fsb has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,892 | $340,510,000 | $179,974 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,892 | $340,510,000 | $179,974 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | VA mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 1 | 6.7% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 3 | 20.0% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | FHA mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | FHA mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
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 | $59,581 |
| First Federal Bank, A FSB | 2315 9th Street Tuscaloosa, AL 35401 | Full Service B&M | $22,045 |
| First Federal Bank, A FSB | 5301 Hwy 69 South Tuscaloosa, AL 35405 | Full Service B&M | $15,359 |
For 2019, First Federal Bank A Fsb had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $5,318 |
| Net interest income | $3,489 |
| Total noninterest income | $11,919 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $28 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $11,891 |
| Pre-tax net operating income | $2,067 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $1,988 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,988 |
| Minority interest net income | $0 |
| Net income | $1,988 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,988 |
First Federal Bank A Fsb's gross interest income from loans was $5,318,000.
First Federal Bank A Fsb's net interest income from loans was $3,489,000.
First Federal Bank A Fsb's fee based income from loans was $28,000.
First Federal Bank A Fsb's net income from loans was $1,988,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,829 |
| Provision for credit losses | $18 |
| Total noninterest expense | $13,323 |
| Salaries and employee benefits | $8,447 |
| Premises and equipment expense | $1,194 |
| Additional noninterest expense | $3,682 |
| Applicable income taxes | $79 |
| Net charge-offs | $41 |
| Cash dividends | $372 |
First Federal Bank A Fsb's interest expense for loans was $1,829,000.
First Federal Bank A Fsb's payroll and benefits expense were $8,447,000.
First Federal Bank A Fsb's property, plant and equipment expenses $1,194,000.
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 | $91,137 |
| Deposits held in domestic offices | $91,137 |
| Deposits by Individuals, partnerships, and corporations | $90,960 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $176 |
| 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 | $19,510 |
| Demand deposits | $7,373 |
| Nontransaction accounts | $71,626 |
| Money market deposit accounts (MMDAs) | $6,142 |
| Other savings deposits (excluding MMDAs) | $3,784 |
| Total time deposits | $61,701 |
| Total time and savings deposits | $83,763 |
| Noninterest-bearing deposits | $6,964 |
| Interest-bearing deposits | $84,173 |
| Retail deposits | $76,672 |
| IRAs and Keogh plan accounts | $3,365 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $132,336 |
| Cash & Balances due from depository institutions | $8,920 |
| Interest-bearing balances | $8,269 |
| Total securities | $832 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $109,464 |
| Loan and leases loss allowance | $469 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,988 |
| Other real estate owned | $221 |
| Goodwill and other intangibles | $620 |
| All other assets | $8,291 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $132,336 |
| Total Liabilities | $117,803 |
| Total deposits | $91,137 |
| Interest-bearing deposits | $84,173 |
| Deposits held in domestic offices | $91,137 |
| % insured (estimated) | $91 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $24,600 |
| Subordinated debt | $0 |
| All other liabilities | $2,066 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $109,464 |
| Loan and leases loss allowance | $469 |
| Total loans and leases (domestic) | $109,933 |
| All real estate loans | $109,046 |
| Real estate loans in domestic offices | $109,046 |
| Construction and development loans | $7,702 |
| Residential 1-4 family construction | $3,678 |
| Other construction, all land development and other land | $4,024 |
| Loans secured by nonfarm nonresidential properties | $752 |
| Nonfarm nonresidential secured by owner-occupied properties | $752 |
| Commercial real estate & other non-farm, non-residential | $0 |
| Multifamily residential real estate | $663 |
| 1-4 family residential loans | $99,929 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $416 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $434 |
| Credit card loans | $0 |
| Related Plans | $51 |
| Consumer Auto Loans | $25 |
| Other loans to individuals | $358 |
| All other loans & leases | $37 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $37 |
| 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 | $1,282 |
| Non 1-4 family restructured loans & leases | $846 |
| Total loans and leases (foreign) | $0 |
First Federal Bank A FSB had $109,464,000 of loans outstanding in 2019. $109,046,000 of loans were in real estate loans. $7,702,000 of loans were in development loans. $663,000 of loans were in multifamily mortgage loans. $99,929,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $25,000 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 | 1 | $58 | $58,000 |
| Nonfarm, nonresidential loans - <$100k | 1 | $58 | $58,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 7 | $416 | $59,429 |
| Commercial & Industrial, US addressed loans - <$100k | 5 | $166 | $33,200 |
| Commercial & Industrial, US addressed loans - $100-250k | 2 | $250 | $125,000 |