Community First Bank Mortgage Rates, Fees & Info

Walhalla, SC

LEI: 549300RZFB670NG8MF92

Tax ID: 57-0899390

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Community First Bank is a smaller bank specializing in Home Purchase, Refi, and Home Improvement loans. Community First Bank has a high proportion of conventional loans. Their top markets by origination volume include: Greenville, Charlotte, Seneca, Spartanburg, and Toccoa among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Community First Bank 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. Community First Bank 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 relatively high 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.50%	4/28/24
30 Year Conventional Refi	6.86%	4/28/24
30 Year Cash-out Refi	6.99%	4/28/24
15 Year Conventional Purchase	5.94%	4/28/24
15 Year Conventional Refi	7.47%	4/28/24
15 Year Cash-out Refi	7.47%	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.

Community First Bank Mortgage Calculator

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This is not an official calculator from Community First Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

Origination Dollar Volume (All Markets)

$10,325,000

Employee count

117

Awards

Community First Bank 30 Year Conventional Loans silver

Show all (1) awards

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
GREENVILLE-ANDERSON, SC (FHA\|USDA\|VA)	15	$3,215,000	$214,333	$2,058	6.08%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA\|USDA\|VA)	4	$2,580,000	$645,000	$3,110	5.91%
Seneca, SC (FHA\|USDA\|VA)	10	$2,460,000	$246,000	$955	5.06%
Outside of Metro Areas	3	$1,035,000	$345,000	$6,786	5.46%
SPARTANBURG, SC (FHA\|USDA\|VA)	2	$370,000	$185,000	$0	5.63%
Toccoa, GA (FHA\|USDA\|VA)	2	$300,000	$150,000	$325	4.08%
Cornelia, GA (FHA\|USDA\|VA)	1	$185,000	$185,000	$325	3.88%
Morehead City, NC (FHA\|USDA\|VA)	1	$115,000	$115,000	$3,082	3.88%
FAYETTEVILLE, NC (FHA\|USDA\|VA)	1	$65,000	$65,000	$0	5.75%

Community First Bank's top markets include Greenville, Charlotte, Seneca, Spartanburg, and Toccoa among others.

Their top states include:

South Carolina (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

Georgia (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Community First Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

CONSUMER Credit Union
Similarity Rank: 24

NORTHEAST COMMUNITY
Similarity Rank: 60

GREENVILLE FEDERAL CREDIT UNION
Similarity Rank: 402

FIRST BANCORP
Similarity Rank: 1152

BLMC, INC
Similarity Rank: 1266

Coastal Carolina National Bank
Similarity Rank: 1328

Bank of Tennessee
Similarity Rank: 1392

First Piedmont Federal Savings and Loan Association of Gaffney
Similarity Rank: 1533

S. C. STATE FEDERAL CREDIT UNION
Similarity Rank: 1598

CPM Federal Credit Union
Similarity Rank: 1650

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	39	$10,325,000	$264,744	$2,156	5.51%

For 2019, Community First Bank's most frequently originated type of loan was Conventional, with 39 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	19	$4,775,000	$251,316	$1,527	5.30%
Refi	14	$2,740,000	$195,714	$2,681	5.64%
Home Improvement	4	$2,570,000	$642,500	$1,415	5.94%
Other	2	$240,000	$120,000	$3,096	5.63%

For 2019, Community First Bank's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 14 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	17	$3,665,000	$215,588	$2,337	5.21%
5 Year	13	$4,575,000	$351,923	$0	5.76%
15 Year	7	$1,325,000	$189,286	$1,575	6.03%
10 Year	1	$45,000	$45,000	$1,970	3.75%
20 Year	1	$715,000	$715,000	$0	5.25%

For 2019, Community First Bank's most frequently cited loan duration was 30 Year, with 17 originations. The 2nd most popular length was 5 Year, with 13 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	14	$1,830,000	$130,714
$1k-2k	4	$440,000	$110,000
$2k-3k	1	$275,000	$275,000
$5k+	1	$695,000	$695,000

Community First Bank's average total fees were $2,337, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 14 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
5-6%	18	$5,970,000	$331,667
4-5%	7	$1,755,000	$250,714
6-7%	7	$1,615,000	$230,714
3-4%	5	$835,000	$167,000
7-8%	2	$150,000	$75,000

During 2019, Community First Bank's average interest rate for loans was 5.21%, while their most frequently originated rate bucket for loans was 5-6%, with 18 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	14	$830,000	$59,286	$1,988	5.74%
$100k-200k	9	$1,345,000	$149,444	$1,756	5.43%
$200k-400k	8	$2,260,000	$282,500	$1,909	5.03%
$400k-600k	4	$1,900,000	$475,000	$375	5.93%
$600k-1MM	3	$2,285,000	$761,667	$10,693	5.44%
$1MM+	1	$1,705,000	$1,705,000	$0	5.25%

2019 saw Community First Bank place emphasis on $100,000 or less loans with 14 originations, totaling $830,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	8	$920,000	$115,000	$1,772	5.75%
$150k-250k	5	$1,345,000	$269,000	$4,392	5.28%
$250k+	3	$705,000	$235,000	$1,244	4.79%
$50k or less	3	$175,000	$58,333	$1,207	5.67%
$75k-100k	3	$365,000	$121,667	$1,888	4.63%
$100k-150k	2	$650,000	$325,000	$425	6.18%

Community First Bank lent most frequently to those with incomes in the $50k-75k range, with 8 originations. The second most popular income band? $150k-250k, with 5 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	5	$1,545,000	$309,000	$3,765	5.13%
43%	4	$500,000	$125,000	$1,747	5.47%
<20%	4	$250,000	$62,500	$2,310	4.97%
36%	3	$185,000	$61,667	$2,464	6.21%
20-30%	3	$425,000	$141,667	$1,253	5.18%
50-60%	1	$25,000	$25,000	$1,141	6.00%
37%	1	$145,000	$145,000	$325	4.50%
39%	1	$505,000	$505,000	$325	5.99%
41%	1	$95,000	$95,000	$2,907	5.99%
44%	1	$485,000	$485,000	$425	5.99%

Community First Bank lent most frequently to those with DTI ratios of 30-36%, with 5 originations. The next most common DTI ratio? 43%, with 4 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	15	$6,165,000	$411,000	$0	5.65%
White	22	$3,970,000	$180,455	$2,169	5.35%
Black	2	$190,000	$95,000	$1,868	6.13%

Approval Rates

Total approvals of all applications
93.44%

Community First Bank has an average approval rate.

Pick Rate

Approvals leading to origination
66.67%

Community First Bank 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
NA	39	$10,325,000	$264,744

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	1	$465,000	$465,000
Multifamily:Site-Built	7	$4,685,000	$669,286
Single Family (1-4 Units):Site-Built	31	$5,175,000	$166,935

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	9	$1,105,000	$122,778	$1,515	5.58%
40-60%	5	$485,000	$97,000	$1,937	5.35%
60-80%	21	$7,995,000	$380,714	$3,275	5.60%
80-100%	4	$740,000	$185,000	$325	5.04%

Complaints

Bank Name	Product	Issue	2019 CPFB Complaints	% of Total Issues
COMMUNITY BANK SYSTEM, INC.	Conventional home mortgage	Closing on a mortgage	1	20.0%
COMMUNITY BANK SYSTEM, INC.	Conventional home mortgage	Trouble during payment process	3	60.0%
COMMUNITY BANK SYSTEM, INC.	Home equity loan or line of credit (HELOC)	Closing on a mortgage	1	20.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Community First Bank, Inc.	1600 Sandifer Boulevard Seneca, SC 29678	Full Service B&M	$57,545
Community First Bank, Inc.	2007 E. Greenville Street Anderson, SC 29621	Full Service B&M	$17,519
Community First Bank, Inc.	208 East Main Street Williamston, SC 29697	Full Service B&M	$58,463
Community First Bank, Inc.	210 Brendan Way Greenville, SC 29615	Full Service B&M	$816
Community First Bank, Inc.	306 East Windsor Street Westminster, SC 29693	Full Service B&M	$45,453
Community First Bank, Inc.	3685 Blue Ridge Boulevard Walhalla, SC 29691	Full Service B&M	$89,503
Community First Bank, Inc.	4002 Clemson Blvd Anderson, SC 29621	Full Service B&M	$49,130
Community First Bank, Inc.	449 Highway 123 Bypass Seneca, SC 29678	Full Service B&M	$30,345

For 2019, Community First Bank had 8 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$17,343
Net interest income	$14,149
Total noninterest income	$2,529
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$911
Trading account gains and fees	$0
Additional Noninterest Income	$1,618
Pre-tax net operating income	$1,527
Securities gains (or losses, -)	$22
Income before extraordinary items	$1,221
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$1,221
Minority interest net income	$0
Net income	$1,221
Sale, conversion, retirement of capital stock, net	$104
Net operating income	$1,203

Community First Bank's gross interest income from loans was $17,343,000.
Community First Bank's net interest income from loans was $14,149,000.
Community First Bank's fee based income from loans was $911,000.
Community First Bank's net income from loans was $1,221,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,194
Provision for credit losses	$40
Total noninterest expense	$15,111
Salaries and employee benefits	$8,662
Premises and equipment expense	$1,463
Additional noninterest expense	$4,986
Applicable income taxes	$328
Net charge-offs	$-124
Cash dividends	$552

Community First Bank's interest expense for loans was $3,194,000.
Community First Bank's payroll and benefits expense were $8,662,000.
Community First Bank's property, plant and equipment expenses $1,463,000.

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	$354,743
Deposits held in domestic offices	$354,743
Deposits by Individuals, partnerships, and corporations	$349,354
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$5,389
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	$140,817
Demand deposits	$64,517
Nontransaction accounts	$213,926
Money market deposit accounts (MMDAs)	$29,780
Other savings deposits (excluding MMDAs)	$36,923
Total time deposits	$147,223
Total time and savings deposits	$290,226
Noninterest-bearing deposits	$64,517
Interest-bearing deposits	$290,226
Retail deposits	$338,778
IRAs and Keogh plan accounts	$19,754
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$418,292
Cash & Balances due from depository institutions	$24,038
Interest-bearing balances	$18,922
Total securities	$45,332
Federal funds sold & reverse repurchase	$0
Net loans and leases	$318,272
Loan and leases loss allowance	$3,740
Trading account assets	$0
Bank premises and fixed assets	$10,825
Other real estate owned	$691
Goodwill and other intangibles	$53
All other assets	$19,081

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$418,292
Total Liabilities	$371,885
Total deposits	$354,743
Interest-bearing deposits	$290,226
Deposits held in domestic offices	$354,743
% insured (estimated)	$93
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$15,000
Subordinated debt	$0
All other liabilities	$2,142

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$318,272
Loan and leases loss allowance	$3,740
Total loans and leases (domestic)	$322,012
All real estate loans	$202,976
Real estate loans in domestic offices	$202,976
Construction and development loans	$19,855
Residential 1-4 family construction	$3,772
Other construction, all land development and other land	$16,083
Loans secured by nonfarm nonresidential properties	$111,352
Nonfarm nonresidential secured by owner-occupied properties	$58,379
Commercial real estate & other non-farm, non-residential	$52,973
Multifamily residential real estate	$4,217
1-4 family residential loans	$66,915
Farmland loans	$637
Loans held in foreign offices	$0
Farm loans	$449
Commercial and industrial loans	$16,622
To non-U.S. addressees	$0
Loans to individuals	$101,200
Credit card loans	$1,448
Related Plans	$265
Consumer Auto Loans	$6,480
Other loans to individuals	$93,007
All other loans & leases	$765
Loans to foreign governments and official institutions	$0
Other loans	$245
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$2,829
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$2,562
Non 1-4 family restructured loans & leases	$1,993
Total loans and leases (foreign)	$0

Community First Bank had $318,272,000 of loans outstanding in 2019. $202,976,000 of loans were in real estate loans. $19,855,000 of loans were in development loans. $4,217,000 of loans were in multifamily mortgage loans. $66,915,000 of loans were in 1-4 family mortgage loans. $449,000 of loans were in farm loans. $1,448,000 of loans were in credit card loans. $6,480,000 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	216	$55,059	$254,903
Nonfarm, nonresidential loans - <$100k	46	$2,195	$47,717
Nonfarm, nonresidential loans - $100-250k	68	$8,724	$128,294
Nonfarm, nonresidential loans - $250k-1MM	102	$44,140	$432,745
Commercial & Industrial, US addressed loans - <$1MM	143	$8,307	$58,091
Commercial & Industrial, US addressed loans - <$100k	106	$2,793	$26,349
Commercial & Industrial, US addressed loans - $100-250k	27	$2,540	$94,074
Commercial & Industrial, US addressed loans - $250k-1MM	10	$2,974	$297,400
Farmland loans - <$1MM	5	$636	$127,200
Farmland loans - <$100k	2	$156	$78,000
Farmland loans - $100-250k	2	$216	$108,000
Farmland loans - $250k-1MM	1	$264	$264,000
Agriculture operations loans - <$1MM	1	$449	$449,000
Agriculture operations loans - $250k-1MM	1	$449	$449,000