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. They have a low ratio of USDA loans. Their top markets by origination volume include: Tuscaloosa, Birmingham, Huntsville, Mobile, and Florence among others. We have data for 60 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
3,050Origination Dollar Volume (All Markets)
$679,130,000Employee count
118Awards
First Federal Bank A FSB - 2021
First Federal Bank A FSB is a 2021 , due to their low .
For 2021, 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) | 1,197 | $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% |
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Product Mix
For 2021, First Federal Bank A Fsb's most frequently originated type of loan was Conventional, with 2,107 originations. Their 2nd most popular type was FHA, with 586 originations.
Loan Reason
For 2021, First Federal Bank A Fsb's most frequently cited loan purpose was Home Purchase, with 2,257 originations. The 2nd most popular reason was Refi, with 456 originations.
Loan Duration/Length
For 2021, First Federal Bank A Fsb's most frequently cited loan duration was 30 Year, with 2,658 originations. The 2nd most popular length was 15 Year, with 227 originations.
Origination Fees/Closing Costs
First Federal Bank A Fsb's average total fees were $3,877, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.99%, while their most frequently originated rate bucket for loans was 2.5-3%, with 1,434 originations.
Loan Sizing
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
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
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
Approval Rates
Total approvals of all applications96.29%
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 origination70.10%
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 |
LTV Distribution
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 |