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 and Refi 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 by origination volume include: Tuscaloosa, Birmingham, Huntsville, Gadsden, and Florence among others. We have data for 55 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% | 4/28/24 |
| 30 Year Conventional Refi | 6.46% | 4/28/24 |
| 30 Year Cash-out Refi | 6.70% | 4/28/24 |
| 30 Year FHA Purchase | 7.38% | 4/28/24 |
| 30 Year FHA Refi | 7.22% | 4/28/24 |
| 30 Year VA Purchase | 6.29% | 4/28/24 |
| 30 Year VA Refi | 5.93% | 4/28/24 |
| 30 Year USDA Purchase | 6.76% | 4/28/24 |
| 15 Year Conventional Purchase | 6.21% | 4/28/24 |
| 15 Year Conventional Refi | 5.95% | 4/28/24 |
| 15 Year Cash-out Refi | 5.95% | 4/28/24 |
| 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
3,385Origination Dollar Volume (All Markets)
$705,555,000Employee count
111Awards
First Federal Bank A FSB - 2020
First Federal Bank A FSB is a 2020 , due to their low .
For 2020, 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) | 1,258 | $280,880,000 | $223,275 | $2,784 | 3.02% |
| BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) | 575 | $124,535,000 | $216,583 | $2,916 | 2.97% |
| HUNTSVILLE, AL (FHA|USDA|VA) | 270 | $56,310,000 | $208,556 | $3,655 | 3.11% |
| GADSDEN, AL (FHA|USDA|VA) | 266 | $48,250,000 | $181,391 | $2,826 | 2.89% |
| FLORENCE-MUSCLE SHOALS, AL (FHA|USDA|VA) | 213 | $36,925,000 | $173,357 | $3,280 | 2.92% |
| DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) | 133 | $32,455,000 | $244,023 | $2,887 | 2.96% |
| MOBILE, AL (FHA|USDA|VA) | 183 | $31,915,000 | $174,399 | $3,063 | 3.00% |
| Cullman, AL (FHA|USDA|VA) | 174 | $29,560,000 | $169,885 | $2,495 | 2.99% |
| Outside of Metro Areas | 97 | $17,595,000 | $181,392 | $3,228 | 2.83% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 21 | $6,235,000 | $296,905 | $4,157 | 3.02% |
| DECATUR, AL (FHA|USDA|VA) | 28 | $4,470,000 | $159,643 | $2,640 | 3.11% |
| Albertville, AL (FHA|USDA|VA) | 21 | $4,255,000 | $202,619 | $2,677 | 2.76% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 14 | $3,620,000 | $258,571 | $3,530 | 2.89% |
| Fort Payne, AL (FHA|USDA|VA) | 22 | $3,220,000 | $146,364 | $2,482 | 2.94% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 10 | $2,880,000 | $288,000 | $3,970 | 3.51% |
| ANNISTON-OXFORD, AL (FHA|USDA|VA) | 15 | $2,105,000 | $140,333 | $2,288 | 2.87% |
| MONTGOMERY, AL (FHA|USDA|VA) | 11 | $2,055,000 | $186,818 | $1,566 | 2.86% |
| Jasper, AL (FHA|USDA|VA) | 7 | $1,815,000 | $259,286 | $3,677 | 2.98% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 5 | $1,715,000 | $343,000 | $3,110 | 2.80% |
| AUBURN-OPELIKA, AL (FHA|USDA|VA) | 6 | $1,410,000 | $235,000 | $2,777 | 3.44% |
| CHATTANOOGA, TN-GA (FHA|USDA|VA) | 5 | $1,335,000 | $267,000 | $4,622 | 2.75% |
| Talladega-Sylacauga, AL (FHA|USDA|VA) | 5 | $1,085,000 | $217,000 | $6,876 | 3.00% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 2 | $840,000 | $420,000 | $8,310 | 3.13% |
| HATTIESBURG, MS (FHA|USDA|VA) | 2 | $830,000 | $415,000 | $2,990 | 2.94% |
| LOUISVILLE, KY (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $4,578 | 2.92% |
| Lawrenceburg, TN (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $3,888 | 2.63% |
| Durango, CO (FHA|USDA|VA) | 2 | $680,000 | $340,000 | $1,884 | 2.63% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $650,000 | $325,000 | $2,691 | 2.56% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $2,157 | 2.63% |
| GULFPORT-BILOXI, MS (FHA|USDA|VA) | 3 | $425,000 | $141,667 | $3,162 | 2.71% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $2,924 | 2.50% |
| Scottsboro, AL (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $3,412 | 2.81% |
| MEMPHIS, TN-MS-AR (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $4,201 | 3.13% |
| Columbus, MS (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $5,235 | 2.25% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $3,389 | 2.25% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $22,661 | 2.63% |
| CHEYENNE, WY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $1,659 | 2.75% |
| RALEIGH-CARY, NC (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $4,972 | 3.50% |
| SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.25% |
| Jefferson, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $4,569 | 3.25% |
| ALBANY-LEBANON, OR (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $660 | 3.63% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $4,946 | 3.13% |
| PANAMA CITY, FL (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,890 | 3.63% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,216 | 2.63% |
| KILLEEN-TEMPLE, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $5,064 | 2.38% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $2,567 | 2.63% |
| Tupelo, MS (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $2,277 | 2.75% |
| London, KY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $3,630 | 3.13% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,644 | 2.50% |
| Somerset, KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $4,549 | 2.63% |
| JACKSON, MS (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,619 | 2.75% |
| Glasgow, KY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $4,420 | 3.50% |
| Alexander City, AL (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,923 | 2.63% |
| Atmore, AL (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $1,172 | 3.50% |
| HAMMOND, LA (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $3,815 | 4.38% |
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Product Mix
For 2020, First Federal Bank A Fsb's most frequently originated type of loan was Conventional, with 2,401 originations. Their 2nd most popular type was FHA, with 548 originations.
Loan Reason
For 2020, First Federal Bank A Fsb's most frequently cited loan purpose was Home Purchase, with 2,147 originations. The 2nd most popular reason was Refi, with 872 originations.
Loan Duration/Length
For 2020, First Federal Bank A Fsb's most frequently cited loan duration was 30 Year, with 2,859 originations. The 2nd most popular length was 15 Year, with 293 originations.
Origination Fees/Closing Costs
First Federal Bank A Fsb's average total fees were $2,998, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 2,293 originations.
Interest Rates
During 2020, First Federal Bank A Fsb's average interest rate for loans was 3.01%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,367 originations.
Loan Sizing
2020 saw First Federal Bank A Fsb place emphasis on $100k-200k loans with 1,480 originations, totaling $227,160,000 in origination value.
Applicant Income
First Federal Bank A Fsb lent most frequently to those with incomes in the $50k-75k range, with 846 originations. The second most popular income band? $50k or less, with 795 originations.
Applicant Debt to Income Ratio
First Federal Bank A Fsb lent most frequently to those with DTI ratios of 20-30%, with 897 originations. The next most common DTI ratio? 30-36%, with 674 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.39%
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 origination76.34%
First Federal Bank A Fsb has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 3,385 | $705,555,000 | $208,436 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $105,000 | $105,000 |
| Single Family (1-4 Units):Site-Built | 3,384 | $705,450,000 | $208,466 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| 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 | Other type of mortgage | Closing on a mortgage | 2 | 13.3% |
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
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 | $65,518 |
| First Federal Bank, A FSB | 2315 9th Street Tuscaloosa, AL 35401 | Full Service B&M | $23,320 |
| First Federal Bank, A FSB | 5301 Hwy 69 South Tuscaloosa, AL 35405 | Full Service B&M | $14,510 |
For 2020, First Federal Bank A Fsb had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $5,250 |
| Net interest income | $3,898 |
| Total noninterest income | $29,095 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $17 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $29,078 |
| Pre-tax net operating income | $12,977 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $12,192 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $12,192 |
| Minority interest net income | $0 |
| Net income | $12,192 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $12,192 |
First Federal Bank A Fsb's gross interest income from loans was $5,250,000.
First Federal Bank A Fsb's net interest income from loans was $3,898,000.
First Federal Bank A Fsb's fee based income from loans was $17,000.
First Federal Bank A Fsb's net income from loans was $12,192,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,352 |
| Provision for credit losses | $420 |
| Total noninterest expense | $19,596 |
| Salaries and employee benefits | $13,531 |
| Premises and equipment expense | $1,205 |
| Additional noninterest expense | $4,860 |
| Applicable income taxes | $785 |
| Net charge-offs | $-103 |
| Cash dividends | $1,400 |
First Federal Bank A Fsb's interest expense for loans was $1,352,000.
First Federal Bank A Fsb's payroll and benefits expense were $13,531,000.
First Federal Bank A Fsb's property, plant and equipment expenses $1,205,000.
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 | 2.0% |
| 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 | $109,081 |
| Deposits held in domestic offices | $109,081 |
| Deposits by Individuals, partnerships, and corporations | $94,137 |
| 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. | $14,767 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $26,438 |
| Demand deposits | $11,946 |
| Nontransaction accounts | $82,644 |
| Money market deposit accounts (MMDAs) | $9,227 |
| Other savings deposits (excluding MMDAs) | $4,812 |
| Total time deposits | $68,605 |
| Total time and savings deposits | $97,136 |
| Noninterest-bearing deposits | $11,297 |
| Interest-bearing deposits | $97,784 |
| Retail deposits | $94,903 |
| IRAs and Keogh plan accounts | $3,853 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $176,299 |
| Cash & Balances due from depository institutions | $11,333 |
| Interest-bearing balances | $10,484 |
| Total securities | $807 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $145,524 |
| Loan and leases loss allowance | $992 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,919 |
| Other real estate owned | $165 |
| Goodwill and other intangibles | $680 |
| All other assets | $13,871 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $176,299 |
| Total Liabilities | $150,973 |
| Total deposits | $109,081 |
| Interest-bearing deposits | $97,784 |
| Deposits held in domestic offices | $109,081 |
| % insured (estimated) | $88 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $37,300 |
| Subordinated debt | $0 |
| All other liabilities | $4,592 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $145,524 |
| Loan and leases loss allowance | $992 |
| Total loans and leases (domestic) | $146,516 |
| All real estate loans | $145,842 |
| Real estate loans in domestic offices | $145,842 |
| Construction and development loans | $6,789 |
| Residential 1-4 family construction | $3,213 |
| Other construction, all land development and other land | $3,576 |
| Loans secured by nonfarm nonresidential properties | $56 |
| Nonfarm nonresidential secured by owner-occupied properties | $0 |
| Commercial real estate & other non-farm, non-residential | $56 |
| Multifamily residential real estate | $640 |
| 1-4 family residential loans | $138,357 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $352 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $212 |
| Credit card loans | $0 |
| Related Plans | $45 |
| Consumer Auto Loans | $17 |
| Other loans to individuals | $150 |
| All other loans & leases | $109 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $109 |
| 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 | $1,228 |
| Non 1-4 family restructured loans & leases | $804 |
| Total loans and leases (foreign) | $0 |
First Federal Bank A FSB had $145,524,000 of loans outstanding in 2020. $145,842,000 of loans were in real estate loans. $6,789,000 of loans were in development loans. $640,000 of loans were in multifamily mortgage loans. $138,357,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $17,000 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 | $56 | $56,000 |
| Nonfarm, nonresidential loans - <$100k | 1 | $56 | $56,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 6 | $351 | $58,500 |
| Commercial & Industrial, US addressed loans - <$100k | 3 | $95 | $31,667 |
| Commercial & Industrial, US addressed loans - $100-250k | 3 | $256 | $85,333 |