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 and Refi loans. Community First Bank has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Seneca, Greenville, Spartanburg, and Myrtle Beach 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 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.

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)

$16,920,000

Employee count

150

Awards

Community First Bank 30 Year Conventional Loans bronze

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
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA\|USDA\|VA)	9	$4,655,000	$517,222	$3,452	4.59%
Seneca, SC (FHA\|USDA\|VA)	23	$4,565,000	$198,478	$1,632	4.29%
GREENVILLE-ANDERSON, SC (FHA\|USDA\|VA)	24	$4,110,000	$171,250	$2,960	4.30%
Outside of Metro Areas	3	$1,455,000	$485,000	$5,480	4.55%
SPARTANBURG, SC (FHA\|USDA\|VA)	1	$685,000	$685,000	$0	3.71%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	1	$675,000	$675,000	$0	3.99%
Boone, NC (FHA\|USDA\|VA)	1	$405,000	$405,000	$7,990	4.20%
Cornelia, GA (FHA\|USDA\|VA)	1	$195,000	$195,000	$0	4.75%
Sevierville, TN (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	4.10%

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

Their top states include:

South Carolina (FHA|USDA|VA)

North Carolina (FHA|USDA|VA)

Georgia (FHA|USDA|VA)

Tennessee (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: 33

NORTHEAST COMMUNITY
Similarity Rank: 82

Greenville Heritage Federal Credit Union
Similarity Rank: 438

First Community Bank
Similarity Rank: 462

FIRST BANCORP
Similarity Rank: 646

BLMC, INC
Similarity Rank: 720

Amerisouth Mortgage Company
Similarity Rank: 782

KNOXVILLE TVA EMPLOYEES CREDIT UNION
Similarity Rank: 976

Coastal Carolina National Bank
Similarity Rank: 1000

S. C. STATE FEDERAL CREDIT UNION
Similarity Rank: 1007

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	64	$16,920,000	$264,375	$2,700	4.34%

For 2020, Community First Bank's most frequently originated type of loan was Conventional, with 64 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	43	$10,875,000	$252,907	$2,083	4.34%
Refi	19	$5,225,000	$275,000	$4,103	4.37%
Home Improvement	2	$820,000	$410,000	$0	3.87%

For 2020, Community First Bank's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Refi, with 19 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	29	$7,645,000	$263,621	$2,762	4.15%
5 Year	24	$6,960,000	$290,000	$0	4.61%
15 Year	5	$325,000	$65,000	$2,631	4.14%
10 Year	3	$175,000	$58,333	$2,198	3.75%
Other	2	$1,700,000	$850,000	$0	5.00%
3 Year	1	$115,000	$115,000	$0	4.75%

For 2020, Community First Bank's most frequently cited loan duration was 30 Year, with 29 originations. The 2nd most popular length was 5 Year, with 24 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	19	$4,245,000	$223,421
$1k-2k	8	$960,000	$120,000
$2k-3k	5	$1,085,000	$217,000
$3k-4k	2	$680,000	$340,000
$4k-5k	1	$405,000	$405,000
$5k+	1	$705,000	$705,000

Community First Bank's average total fees were $2,762, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 19 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	42	$9,030,000	$215,000
3-4%	18	$7,030,000	$390,556
5-6%	4	$860,000	$215,000

During 2020, Community First Bank's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 4-5%, with 42 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	20	$5,390,000	$269,500	$2,286	4.44%
$100,000 or less	17	$1,075,000	$63,235	$2,532	4.30%
$100k-200k	16	$2,480,000	$155,000	$2,821	4.47%
$400k-600k	5	$2,445,000	$489,000	$2,241	4.15%
$600k-1MM	4	$2,820,000	$705,000	$10,635	3.86%
$1MM+	2	$2,710,000	$1,355,000	$0	4.08%

2020 saw Community First Bank place emphasis on $200k-400k loans with 20 originations, totaling $5,390,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	9	$1,065,000	$118,333	$2,615	4.16%
$100k-150k	8	$1,850,000	$231,250	$2,002	4.19%
$50k-75k	7	$1,125,000	$160,714	$1,374	4.22%
$75k-100k	7	$1,215,000	$173,571	$2,497	4.09%
$250k+	5	$2,485,000	$497,000	$5,012	3.81%
$150k-250k	1	$405,000	$405,000	$7,990	4.20%

Community First Bank lent most frequently to those with incomes in the $50k or less range, with 9 originations. The second most popular income band? $100k-150k, with 8 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	13	$3,095,000	$238,077	$3,337	4.03%
30-36%	8	$1,800,000	$225,000	$2,260	4.06%
40%	4	$1,190,000	$297,500	$3,466	3.97%
43%	3	$485,000	$161,667	$2,122	4.23%
44%	2	$380,000	$190,000	$3,905	4.29%
38%	2	$400,000	$200,000	$1,889	4.20%
<20%	2	$140,000	$70,000	$2,538	4.29%
42%	1	$245,000	$245,000	$325	4.50%
36%	1	$215,000	$215,000	$325	4.38%
41%	1	$195,000	$195,000	$325	4.50%

Community First Bank lent most frequently to those with DTI ratios of 20-30%, with 13 originations. The next most common DTI ratio? 30-36%, with 8 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	25	$8,335,000	$333,400	$0	4.58%
White	33	$7,865,000	$238,333	$2,574	4.17%
Not provided	3	$505,000	$168,333	$3,887	4.19%
Black	3	$215,000	$71,667	$2,872	4.25%

Approval Rates

Total approvals of all applications
95.32%

Community First Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
54.69%

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	64	$16,920,000	$264,375

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	8	$4,850,000	$606,250
Single Family (1-4 Units):Manufactured	1	$65,000	$65,000
Single Family (1-4 Units):Site-Built	55	$12,005,000	$218,273

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	9	$925,000	$102,778	$2,699	3.99%
40-60%	11	$2,085,000	$189,545	$1,590	4.68%
60-80%	29	$9,325,000	$321,552	$2,706	4.41%
80-100%	15	$4,585,000	$305,667	$3,198	4.17%

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
COMMUNITY BANK SYSTEM, INC.	Conventional home mortgage	Struggling to pay mortgage	1	33.3%
COMMUNITY BANK SYSTEM, INC.	Conventional home mortgage	Trouble during payment process	1	33.3%
COMMUNITY BANK SYSTEM, INC.	Other type of mortgage	Closing on a mortgage	1	33.3%

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	$67,492
Community First Bank, Inc.	2007 E. Greenville Street Anderson, SC 29621	Full Service B&M	$19,194
Community First Bank, Inc.	202 W Trade St Dallas, NC 28034	Full Service B&M	$5,350
Community First Bank, Inc.	208 East Main Street Williamston, SC 29697	Full Service B&M	$63,805
Community First Bank, Inc.	210 Brendan Way Greenville, SC 29615	Full Service B&M	$9,654
Community First Bank, Inc.	306 East Windsor Street Westminster, SC 29693	Full Service B&M	$51,422
Community First Bank, Inc.	3685 Blue Ridge Boulevard Walhalla, SC 29691	Full Service B&M	$107,111
Community First Bank, Inc.	4002 Clemson Blvd Anderson, SC 29621	Full Service B&M	$54,665
Community First Bank, Inc.	449 Highway 123 Bypass Seneca, SC 29678	Full Service B&M	$35,563
Community First Bank, Inc.	800 E Arrowood Rd Charlotte, NC 28217	Full Service B&M	$2,149

For 2020, Community First Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$19,230
Net interest income	$16,027
Total noninterest income	$6,736
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$927
Trading account gains and fees	$0
Additional Noninterest Income	$5,809
Pre-tax net operating income	$2,603
Securities gains (or losses, -)	$-4
Income before extraordinary items	$2,025
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$2,025
Minority interest net income	$0
Net income	$2,025
Sale, conversion, retirement of capital stock, net	$104
Net operating income	$2,028

Community First Bank's gross interest income from loans was $19,230,000.
Community First Bank's net interest income from loans was $16,027,000.
Community First Bank's fee based income from loans was $927,000.
Community First Bank's net income from loans was $2,025,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,203
Provision for credit losses	$1,100
Total noninterest expense	$19,060
Salaries and employee benefits	$10,934
Premises and equipment expense	$1,843
Additional noninterest expense	$6,283
Applicable income taxes	$574
Net charge-offs	$29
Cash dividends	$157

Community First Bank's interest expense for loans was $3,203,000.
Community First Bank's payroll and benefits expense were $10,934,000.
Community First Bank's property, plant and equipment expenses $1,843,000.

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	$454,022
Deposits held in domestic offices	$454,022
Deposits by Individuals, partnerships, and corporations	$448,680
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$5,342
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	$205,202
Demand deposits	$104,581
Nontransaction accounts	$248,820
Money market deposit accounts (MMDAs)	$50,223
Other savings deposits (excluding MMDAs)	$59,140
Total time deposits	$139,457
Total time and savings deposits	$349,441
Noninterest-bearing deposits	$104,581
Interest-bearing deposits	$349,441
Retail deposits	$436,397
IRAs and Keogh plan accounts	$20,864
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$543,716
Cash & Balances due from depository institutions	$57,562
Interest-bearing balances	$50,078
Total securities	$42,431
Federal funds sold & reverse repurchase	$0
Net loans and leases	$412,358
Loan and leases loss allowance	$4,811
Trading account assets	$0
Bank premises and fixed assets	$11,300
Other real estate owned	$323
Goodwill and other intangibles	$26
All other assets	$19,716

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$543,716
Total Liabilities	$494,472
Total deposits	$454,022
Interest-bearing deposits	$349,441
Deposits held in domestic offices	$454,022
% insured (estimated)	$86
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$37,956
Subordinated debt	$0
All other liabilities	$2,494

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$412,358
Loan and leases loss allowance	$4,811
Total loans and leases (domestic)	$417,169
All real estate loans	$252,237
Real estate loans in domestic offices	$252,237
Construction and development loans	$16,185
Residential 1-4 family construction	$1,890
Other construction, all land development and other land	$14,295
Loans secured by nonfarm nonresidential properties	$131,441
Nonfarm nonresidential secured by owner-occupied properties	$67,012
Commercial real estate & other non-farm, non-residential	$64,429
Multifamily residential real estate	$8,556
1-4 family residential loans	$95,796
Farmland loans	$259
Loans held in foreign offices	$0
Farm loans	$450
Commercial and industrial loans	$35,623
To non-U.S. addressees	$0
Loans to individuals	$127,771
Credit card loans	$1,464
Related Plans	$191
Consumer Auto Loans	$5,878
Other loans to individuals	$120,238
All other loans & leases	$1,088
Loans to foreign governments and official institutions	$0
Other loans	$686
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$2,595
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$2,488
Non 1-4 family restructured loans & leases	$1,950
Total loans and leases (foreign)	$0

Community First Bank had $412,358,000 of loans outstanding in 2020. $252,237,000 of loans were in real estate loans. $16,185,000 of loans were in development loans. $8,556,000 of loans were in multifamily mortgage loans. $95,796,000 of loans were in 1-4 family mortgage loans. $450,000 of loans were in farm loans. $1,464,000 of loans were in credit card loans. $5,878,000 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	214	$57,852	$270,336
Nonfarm, nonresidential loans - <$100k	42	$1,860	$44,286
Nonfarm, nonresidential loans - $100-250k	61	$7,740	$126,885
Nonfarm, nonresidential loans - $250k-1MM	111	$48,252	$434,703
Commercial & Industrial, US addressed loans - <$1MM	521	$29,139	$55,929
Commercial & Industrial, US addressed loans - <$100k	425	$11,716	$27,567
Commercial & Industrial, US addressed loans - $100-250k	67	$8,503	$126,910
Commercial & Industrial, US addressed loans - $250k-1MM	29	$8,920	$307,586
Farmland loans - <$1MM	1	$259	$259,000
Farmland loans - $250k-1MM	1	$259	$259,000
Agriculture operations loans - <$1MM	1	$450	$450,000
Agriculture operations loans - $250k-1MM	1	$450	$450,000