First Savings And Loan Association Mortgage Rates, Fees & Info

Mebane, NC

LEI: 549300RV4T4YZCSHWF37

Tax ID: 56-0319795

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Mortgage Data

Bank Data

Review & Overview

First Savings And Loan Association is a smaller mortgage company specializing in Home Purchase loans. First Savings And Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Burlington, Durham, and Greensboro among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

First Savings And Loan Association has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

30

Origination Dollar Volume (All Markets)

$5,640,000

Employee count

6

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
BURLINGTON, NC (FHA|USDA|VA) 24 $4,560,000 $190,000 $0 0.00%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 3 $545,000 $181,667 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 2 $350,000 $175,000 $0 0.00%
Outside of Metro Areas 1 $185,000 $185,000 $0 0.00%
First Savings And Loan Association's top markets include Burlington, Durham, and Greensboro among others.

Their top states include:
  • North Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 30 $5,640,000 $188,000 $0 0.00%

    For 2019, First Savings And Loan Association's most frequently originated type of loan was Conventional, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 22 $4,620,000 $210,000 $0 0.00%
    Refi 8 $1,020,000 $127,500 $0 0.00%

    For 2019, First Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 22 originations. The 2nd most popular reason was Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 30 $5,640,000 $188,000 $0 0.00%

    For 2019, First Savings And Loan Association's most frequently cited loan duration was Other, with 30 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 13 $1,875,000 $144,231 $0 0.00%
    $200k-400k 9 $2,325,000 $258,333 $0 0.00%
    $100,000 or less 6 $450,000 $75,000 $0 0.00%
    $400k-600k 2 $990,000 $495,000 $0 0.00%

    2019 saw First Savings And Loan Association place emphasis on $100k-200k loans with 13 originations, totaling $1,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 8 $1,160,000 $145,000 $0 0.00%
    $50k or less 6 $680,000 $113,333 $0 0.00%
    $150k-250k 5 $1,465,000 $293,000 $0 0.00%
    $50k-75k 4 $620,000 $155,000 $0 0.00%
    $75k-100k 4 $700,000 $175,000 $0 0.00%
    $250k+ 2 $730,000 $365,000 $0 0.00%

    First Savings And Loan Association lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $50k or less, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 30 $5,640,000 $188,000 $0 0.00%

    First Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 26 $5,010,000 $192,692 $0 0.00%
    Black 3 $345,000 $115,000 $0 0.00%
    Not applicable 1 $285,000 $285,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.42%

    First Savings And Loan Association has an average approval rate.

    Pick Rate

    Approvals leading to origination
    63.33%

    First Savings And Loan Association has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 30 $5,640,000 $188,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 30 $5,640,000 $188,000

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    First American Solutions, LLC VA mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Savings and Loan Association 206 West Center Street Mebane, NC 27302 Full Service B&M $43,387

    For 2019, First Savings And Loan Association had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,273
    Net interest income $1,454
    Total noninterest income $78
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $0
    Trading account gains and fees $0
    Additional Noninterest Income $78
    Pre-tax net operating income $98
    Securities gains (or losses, -) $0
    Income before extraordinary items $104
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $104
    Minority interest net income $0
    Net income $104
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $104

    First Savings And Loan Association's gross interest income from loans was $2,273,000.
    First Savings And Loan Association's net interest income from loans was $1,454,000.
    First Savings And Loan Association's fee based income from loans was $0.
    First Savings And Loan Association's net income from loans was $104,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $819
    Provision for credit losses $-20
    Total noninterest expense $1,454
    Salaries and employee benefits $812
    Premises and equipment expense $65
    Additional noninterest expense $577
    Applicable income taxes $-6
    Net charge-offs $0
    Cash dividends $0

    First Savings And Loan Association's interest expense for loans was $819,000.
    First Savings And Loan Association's payroll and benefits expense were $812,000.
    First Savings And Loan Association's property, plant and equipment expenses $65,000.

    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 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 $42,759
    Deposits held in domestic offices $42,759
    Deposits by Individuals, partnerships, and corporations $42,759
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    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 $0
    Demand deposits $0
    Nontransaction accounts $42,759
    Money market deposit accounts (MMDAs) $1,950
    Other savings deposits (excluding MMDAs) $4,864
    Total time deposits $35,944
    Total time and savings deposits $42,759
    Noninterest-bearing deposits $0
    Interest-bearing deposits $42,759
    Retail deposits $37,222
    IRAs and Keogh plan accounts $3,499
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $55,897
    Cash & Balances due from depository institutions $2,362
    Interest-bearing balances $1,472
    Total securities $11,651
    Federal funds sold & reverse repurchase $5,304
    Net loans and leases $33,926
    Loan and leases loss allowance $184
    Trading account assets $0
    Bank premises and fixed assets $114
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $2,540

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $55,897
    Total Liabilities $43,355
    Total deposits $42,759
    Interest-bearing deposits $42,759
    Deposits held in domestic offices $42,759
    % insured (estimated) $94
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $596

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $33,926
    Loan and leases loss allowance $184
    Total loans and leases (domestic) $34,110
    All real estate loans $34,110
    Real estate loans in domestic offices $34,110
    Construction and development loans $858
    Residential 1-4 family construction $858
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $856
    Nonfarm nonresidential secured by owner-occupied properties $812
    Commercial real estate & other non-farm, non-residential $44
    Multifamily residential real estate $0
    1-4 family residential loans $32,396
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $0
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $0
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    First Savings and Loan Association had $33,926,000 of loans outstanding in 2019. $34,110,000 of loans were in real estate loans. $858,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $32,396,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 8 $856 $107,000
    Nonfarm, nonresidential loans - <$100k 1 $44 $44,000
    Nonfarm, nonresidential loans - $100-250k 4 $245 $61,250
    Nonfarm, nonresidential loans - $250k-1MM 3 $567 $189,000