New Mexico Bank & Trust Mortgage Rates, Fees & Info

Albuquerque, NM

LEI: 549300TFPNF5ZPLD8I74

Tax ID: 85-0451580

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    New Mexico Bank & Trust is a smaller bank specializing in Home Purchase and Refi loans. New Mexico Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Santa Fe, Albuquerque, Clovis, Los Alamos, and Greeley among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    New Mexico Bank & Trust 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. New Mexico Bank & Trust 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.

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    Originations

    29

    Origination Dollar Volume (All Markets)

    $11,205,000

    Employee count

    133

    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
    SANTA FE, NM (FHA|USDA|VA) 12 $6,220,000 $518,333 $3,949 4.18%
    ALBUQUERQUE, NM (FHA|USDA|VA) 6 $1,860,000 $310,000 $7,606 4.27%
    Clovis, NM (FHA|USDA|VA) 5 $975,000 $195,000 $0 5.25%
    Los Alamos, NM (FHA|USDA|VA) 1 $665,000 $665,000 $0 4.50%
    GREELEY, CO (FHA|USDA|VA) 1 $515,000 $515,000 $8,615 4.25%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $425,000 $425,000 $5,548 2.50%
    Española, NM (FHA|USDA|VA) 2 $410,000 $205,000 $1,561 6.76%
    Outside of Metro Areas 1 $135,000 $135,000 $0 4.99%
    New Mexico Bank & Trust's top markets include Santa Fe, Albuquerque, Clovis, Los Alamos, and Greeley among others.

    Their top states include:
  • New Mexico (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)

    • Similar Lenders

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

    RIO GRANDE
    Similarity Rank: 135
    SANDIA LABORATORY
    Similarity Rank: 168
    WESTSTAR MORTGAGE CORPORATION
    Similarity Rank: 299
    STATE EMPLOYEES
    Similarity Rank: 370
    First Financial Credit Union
    Similarity Rank: 429
    Del Norte Credit Union
    Similarity Rank: 549
    First American Bank
    Similarity Rank: 760
    SANDIA AREA
    Similarity Rank: 1341
    Kirtland Federal Credit Union
    Similarity Rank: 2133
    NUSENDA
    Similarity Rank: 2448

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 29 $11,205,000 $386,379 $4,881 4.55%

    For 2020, New Mexico Bank & Trust's most frequently originated type of loan was Conventional, with 29 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 14 $5,300,000 $378,571 $7,014 4.19%
    Refi 13 $4,075,000 $313,462 $3,510 4.98%
    Other 1 $125,000 $125,000 $0 4.81%
    Cash Out Refi 1 $1,705,000 $1,705,000 $2,451 3.63%

    For 2020, New Mexico Bank & Trust's most frequently cited loan purpose was Home Purchase, with 14 originations. The 2nd most popular reason was Refi, with 13 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 9 $4,515,000 $501,667 $6,284 3.35%
    5 Year 9 $2,165,000 $240,556 $0 4.91%
    10 Year 5 $3,285,000 $657,000 $0 4.50%
    15 Year 2 $170,000 $85,000 $1,010 6.63%
    1 Year 2 $560,000 $280,000 $0 5.63%
    Other 2 $510,000 $255,000 $0 5.25%

    For 2020, New Mexico Bank & Trust's most frequently cited loan duration was 30 Year, with 9 originations. The 2nd most popular length was 5 Year, with 9 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 3 $295,000 $98,333
    $5k+ 3 $1,475,000 $491,667
    $1k-2k 2 $2,130,000 $1,065,000
    $2k-3k 2 $330,000 $165,000
    $3k-4k 1 $265,000 $265,000
    $4k-5k 1 $315,000 $315,000

    New Mexico Bank & Trust's average total fees were $6,284, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 3 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 14 $6,090,000 $435,000
    5-6% 7 $1,275,000 $182,143
    2.5-3% 3 $1,275,000 $425,000
    3-4% 3 $2,035,000 $678,333
    <2.5% 1 $425,000 $425,000
    Over 8% 1 $105,000 $105,000

    During 2020, New Mexico Bank & Trust's average interest rate for loans was 3.35%, while their most frequently originated rate bucket for loans was 4-5%, with 14 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 7 $2,175,000 $310,714 $6,573 4.21%
    $100,000 or less 6 $330,000 $55,000 $459 5.40%
    $100k-200k 6 $810,000 $135,000 $2,964 4.89%
    $400k-600k 6 $3,040,000 $506,667 $8,031 3.96%
    $1MM+ 2 $3,430,000 $1,715,000 $2,451 4.06%
    $600k-1MM 2 $1,420,000 $710,000 $0 4.38%

    2020 saw New Mexico Bank & Trust place emphasis on $200k-400k loans with 7 originations, totaling $2,175,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 5 $3,145,000 $629,000 $3,641 3.74%
    $100k-150k 3 $955,000 $318,333 $5,194 4.25%
    $50k-75k 3 $745,000 $248,333 $5,579 4.29%
    $150k-250k 2 $830,000 $415,000 $7,811 3.50%
    $50k or less 2 $220,000 $110,000 $1,561 6.38%
    $75k-100k 2 $460,000 $230,000 $5,283 4.44%

    New Mexico Bank & Trust lent most frequently to those with incomes in the $250k+ range, with 5 originations. The second most popular income band? $100k-150k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    50-60% 3 $1,015,000 $338,333 $5,579 3.79%
    20-30% 2 $480,000 $240,000 $6,145 3.19%
    30-36% 2 $620,000 $310,000 $5,088 6.13%
    41% 2 $190,000 $95,000 $230 5.03%
    >60% 2 $860,000 $430,000 $9,929 4.13%
    45% 1 $395,000 $395,000 $7,101 2.88%
    38% 1 $1,705,000 $1,705,000 $2,451 3.63%
    <20% 1 $165,000 $165,000 $5,012 3.13%

    New Mexico Bank & Trust lent most frequently to those with DTI ratios of 50-60%, with 3 originations. The next most common DTI ratio? 20-30%, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 16 $8,130,000 $508,125 $5,173 4.05%
    Not applicable 8 $2,160,000 $270,000 $0 5.05%
    Not provided 3 $725,000 $241,667 $1,561 5.92%
    Asian 1 $165,000 $165,000 $5,283 3.63%
    American Indian 1 $25,000 $25,000 $0 5.25%

    Approval Rates

    Total approvals of all applications
    100.00%

    New Mexico Bank & Trust 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
    75.86%

    New Mexico Bank & Trust has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 29 $11,205,000 $386,379

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $3,420,000 $855,000
    Single Family (1-4 Units):Manufactured 3 $735,000 $245,000
    Single Family (1-4 Units):Site-Built 22 $7,050,000 $320,455

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $300,000 $150,000 $5,012 4.06%
    40-60% 7 $2,725,000 $389,286 $3,208 5.34%
    60-80% 14 $6,720,000 $480,000 $7,330 4.20%
    80-100% 3 $1,245,000 $415,000 $7,081 4.08%
    Under 20% 3 $215,000 $71,667 $230 5.10%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    New Mexico Bank & Trust 1612 East Spruce Street Portales, NM 88130 Full Service B&M $18,301
    New Mexico Bank & Trust 1475 Central Avenue Los Alamos, NM 87544 Full Service B&M $84,552
    New Mexico Bank & Trust 1549 Paseo De Peralta Santa Fe, NM 87501 Full Service B&M $108,170
    New Mexico Bank & Trust 1592 St. Michael's Drive Santa Fe, NM 87505 Full Service B&M $334,676
    New Mexico Bank & Trust 173-45 Us Highway 64 Tierra Amarilla, NM 87575 Full Service B&M $43,007
    New Mexico Bank & Trust 1810 Main Street Nw Los Lunas, NM 87031 Full Service B&M $73,488
    New Mexico Bank & Trust 2009 Ross Street Clovis, NM 88101 Full Service B&M $0
    New Mexico Bank & Trust 2300 Louisiana Boulevard Ne Albuquerque, NM 87110 Full Service B&M $76,490
    New Mexico Bank & Trust 320 Gold Street, S.W. Albuquerque, NM 87102 Full Service B&M $236,876
    New Mexico Bank & Trust 3701 4th Street, Nw Albuquerque, NM 87107 Full Service B&M $44,246
    New Mexico Bank & Trust 4001 Southern Blvd. S.E. Rio Rancho, NM 87124 Full Service B&M $136,447
    New Mexico Bank & Trust 411 Carr Lane Espanola, NM 87532 Full Service B&M $43,781
    New Mexico Bank & Trust 6201 Riverside Plaza Lane Nw, Albuquerque, NM 87120 Full Service B&M $53,071
    New Mexico Bank & Trust 7021 Jefferson Ne Albuquerque, NM 87109 Full Service B&M $136,396
    New Mexico Bank & Trust 709 Pile Street Clovis, NM 88101 Full Service B&M $198,809
    New Mexico Bank & Trust 7830 Enchanted Hills Blvd Rio Rancho, NM 87124 Full Service B&M $36,952
    New Mexico Bank & Trust 9500 Montgomery Boulevard Ne, Sierra Vista Shopping Center Albuquerque, NM 87111 Full Service B&M $73,322

    For 2020, New Mexico Bank & Trust had 17 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $67,505
    Net interest income $64,833
    Total noninterest income $9,286
    Gross Fiduciary activities income $2,586
    Service charges on deposit accounts $3,286
    Trading account gains and fees $0
    Additional Noninterest Income $3,414
    Pre-tax net operating income $24,219
    Securities gains (or losses, -) $1,671
    Income before extraordinary items $20,106
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $20,106
    Minority interest net income $0
    Net income $20,106
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $18,785

    New Mexico Bank & Trust's gross interest income from loans was $67,505,000.
    New Mexico Bank & Trust's net interest income from loans was $64,833,000.
    New Mexico Bank & Trust's fee based income from loans was $3,286,000.
    New Mexico Bank & Trust's net income from loans was $20,106,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,672
    Provision for credit losses $11,690
    Total noninterest expense $38,210
    Salaries and employee benefits $10,370
    Premises and equipment expense $3,057
    Additional noninterest expense $24,783
    Applicable income taxes $5,784
    Net charge-offs $6,126
    Cash dividends $6,000

    New Mexico Bank & Trust's interest expense for loans was $2,672,000.
    New Mexico Bank & Trust's payroll and benefits expense were $10,370,000.
    New Mexico Bank & Trust's property, plant and equipment expenses $3,057,000.

    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 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 $1,749,963
    Deposits held in domestic offices $1,749,963
    Deposits by Individuals, partnerships, and corporations $1,483,512
    Deposits by U.S. Government $2
    Deposits by States and political subdivisions in the U.S. $266,449
    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 $401,554
    Demand deposits $238,339
    Nontransaction accounts $1,348,409
    Money market deposit accounts (MMDAs) $1,079,049
    Other savings deposits (excluding MMDAs) $174,592
    Total time deposits $94,768
    Total time and savings deposits $1,511,624
    Noninterest-bearing deposits $759,828
    Interest-bearing deposits $990,135
    Retail deposits $1,717,594
    IRAs and Keogh plan accounts $14,704
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,032,637
    Cash & Balances due from depository institutions $34,297
    Interest-bearing balances $9,958
    Total securities $776,900
    Federal funds sold & reverse repurchase $1,825
    Net loans and leases $1,142,952
    Loan and leases loss allowance $14,219
    Trading account assets $2,096
    Bank premises and fixed assets $26,169
    Other real estate owned $1,548
    Goodwill and other intangibles $10,889
    All other assets $35,961

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,032,637
    Total Liabilities $1,848,670
    Total deposits $1,749,963
    Interest-bearing deposits $990,135
    Deposits held in domestic offices $1,749,963
    % insured (estimated) $51
    Federal funds purchased and repurchase agreements $55,619
    Trading liabilities $2,096
    Other borrowed funds $31,202
    Subordinated debt $0
    All other liabilities $9,790

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,142,952
    Loan and leases loss allowance $14,219
    Total loans and leases (domestic) $1,157,171
    All real estate loans $768,769
    Real estate loans in domestic offices $768,769
    Construction and development loans $94,868
    Residential 1-4 family construction $19,649
    Other construction, all land development and other land $75,219
    Loans secured by nonfarm nonresidential properties $471,471
    Nonfarm nonresidential secured by owner-occupied properties $241,990
    Commercial real estate & other non-farm, non-residential $229,481
    Multifamily residential real estate $63,156
    1-4 family residential loans $113,593
    Farmland loans $25,681
    Loans held in foreign offices $0
    Farm loans $9,696
    Commercial and industrial loans $272,955
    To non-U.S. addressees $0
    Loans to individuals $5,925
    Credit card loans $925
    Related Plans $1,318
    Consumer Auto Loans $2,219
    Other loans to individuals $1,463
    All other loans & leases $101,069
    Loans to foreign governments and official institutions $0
    Other loans $101
    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

    New Mexico Bank & Trust had $1,142,952,000 of loans outstanding in 2020. $768,769,000 of loans were in real estate loans. $94,868,000 of loans were in development loans. $63,156,000 of loans were in multifamily mortgage loans. $113,593,000 of loans were in 1-4 family mortgage loans. $9,696,000 of loans were in farm loans. $925,000 of loans were in credit card loans. $2,219,000 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 436 $124,375 $285,264
    Nonfarm, nonresidential loans - <$100k 64 $2,044 $31,938
    Nonfarm, nonresidential loans - $100-250k 117 $15,612 $133,436
    Nonfarm, nonresidential loans - $250k-1MM 255 $106,719 $418,506
    Commercial & Industrial, US addressed loans - <$1MM 1,632 $122,453 $75,032
    Commercial & Industrial, US addressed loans - <$100k 1,098 $24,579 $22,385
    Commercial & Industrial, US addressed loans - $100-250k 286 $29,502 $103,154
    Commercial & Industrial, US addressed loans - $250k-1MM 248 $68,372 $275,694
    Farmland loans - <$1MM 38 $4,375 $115,132
    Farmland loans - <$100k 13 $215 $16,538
    Farmland loans - $100-250k 12 $917 $76,417
    Farmland loans - $250k-1MM 13 $3,243 $249,462
    Agriculture operations loans - <$1MM 70 $3,183 $45,471
    Agriculture operations loans - <$100k 33 $775 $23,485
    Agriculture operations loans - $100-250k 21 $778 $37,048
    Agriculture operations loans - $250k-1MM 16 $1,630 $101,875