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 Refi and Home Purchase loans. New Mexico Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Albuquerque, Santa Fe, Phoenix, Taos, and Clovis among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    New Mexico Bank & Trust 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. 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

    132

    Origination Dollar Volume (All Markets)

    $26,370,000

    Employee count

    169

    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
    ALBUQUERQUE, NM (FHA|USDA|VA) 67 $14,145,000 $211,119 $1,385 2.94%
    SANTA FE, NM (FHA|USDA|VA) 17 $4,185,000 $246,176 $1,879 3.02%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 2 $2,540,000 $1,270,000 $0 3.88%
    Outside of Metro Areas 26 $2,330,000 $89,615 $1,385 3.98%
    Taos, NM (FHA|USDA|VA) 3 $1,085,000 $361,667 $893 3.24%
    Clovis, NM (FHA|USDA|VA) 7 $845,000 $120,714 $638 3.57%
    Los Alamos, NM (FHA|USDA|VA) 6 $680,000 $113,333 $647 2.57%
    Portales, NM (FHA|USDA|VA) 3 $505,000 $168,333 $838 4.00%
    LUBBOCK, TX (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.75%
    New Mexico Bank & Trust's top markets include Albuquerque, Santa Fe, Phoenix, Taos, and Clovis among others.

    Their top states include:
  • New Mexico (FHA|USDA|VA)
  • Arizona (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.

    SANDIA LABORATORY
    Similarity Rank: 180
    Del Norte Credit Union
    Similarity Rank: 624
    First American Bank
    Similarity Rank: 713
    Enterprise Bank & Trust
    Similarity Rank: 1794
    Kirtland Federal Credit Union
    Similarity Rank: 1848
    Chicago Mortgage Solutions LLC
    Similarity Rank: 2268
    SANDIA AREA
    Similarity Rank: 2442
    NUSENDA
    Similarity Rank: 3390
    BKCO MORTGAGE, LLC
    Similarity Rank: 4450
    NP, Inc.
    Similarity Rank: 6195

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 132 $26,370,000 $199,773 $1,365 3.23%

    For 2021, New Mexico Bank & Trust's most frequently originated type of loan was Conventional, with 132 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 70 $13,480,000 $192,571 $1,036 3.22%
    Home Purchase 27 $7,785,000 $288,333 $3,374 3.74%
    Home Improvement 22 $2,260,000 $102,727 $626 2.84%
    Other 11 $1,195,000 $108,636 $1,068 2.85%
    Cash Out Refi 2 $1,650,000 $825,000 $7,404 3.13%

    For 2021, New Mexico Bank & Trust's most frequently cited loan purpose was Refi, with 70 originations. The 2nd most popular reason was Home Purchase, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 78 $11,240,000 $144,103 $879 2.75%
    10 Year 19 $5,075,000 $267,105 $561 3.92%
    5 Year 15 $1,235,000 $82,333 $5,656 4.59%
    30 Year 11 $4,455,000 $405,000 $6,153 3.06%
    Other 7 $3,415,000 $487,857 $780 3.78%
    1 Year 2 $950,000 $475,000 $0 4.25%

    For 2021, New Mexico Bank & Trust's most frequently cited loan duration was 15 Year, with 78 originations. The 2nd most popular length was 10 Year, with 19 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 82 $11,190,000 $136,463
    $1k-2k 5 $2,065,000 $413,000
    $2k-3k 2 $300,000 $150,000
    $3k-4k 2 $1,550,000 $775,000
    $4k-5k 1 $305,000 $305,000
    $5k+ 1 $575,000 $575,000

    New Mexico Bank & Trust's average total fees were $6,153, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 82 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 57 $9,145,000 $160,439
    2.5-3% 25 $3,285,000 $131,400
    4-5% 24 $3,150,000 $131,250
    3-4% 20 $10,090,000 $504,500
    5-6% 6 $700,000 $116,667

    During 2021, New Mexico Bank & Trust's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was <2.5%, with 57 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 55 $3,205,000 $58,273 $497 3.37%
    $100k-200k 40 $5,650,000 $141,250 $1,228 3.02%
    $200k-400k 22 $5,640,000 $256,364 $2,198 3.10%
    $400k-600k 7 $3,325,000 $475,000 $5,379 3.41%
    $600k-1MM 5 $4,545,000 $909,000 $4,542 3.69%
    $1MM+ 3 $4,005,000 $1,335,000 $4,129 3.21%

    2021 saw New Mexico Bank & Trust place emphasis on $100,000 or less loans with 55 originations, totaling $3,205,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 21 $2,905,000 $138,333 $1,516 2.88%
    $50k or less 21 $1,765,000 $84,048 $910 3.10%
    $150k-250k 17 $3,275,000 $192,647 $1,374 2.92%
    $75k-100k 17 $2,375,000 $139,706 $1,068 2.89%
    $250k+ 15 $6,295,000 $419,667 $2,263 2.87%
    $50k-75k 10 $1,300,000 $130,000 $1,955 3.40%

    New Mexico Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $50k or less, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 26 $6,460,000 $248,462 $1,687 2.74%
    20-30% 24 $4,240,000 $176,667 $1,118 2.68%
    30-36% 17 $2,345,000 $137,941 $927 2.78%
    36% 5 $755,000 $151,000 $636 2.85%
    42% 5 $875,000 $175,000 $2,262 2.83%
    50-60% 4 $640,000 $160,000 $1,328 2.98%
    41% 3 $405,000 $135,000 $782 3.07%
    40% 3 $935,000 $311,667 $6,260 3.33%
    38% 2 $140,000 $70,000 $391 3.15%
    46% 2 $1,160,000 $580,000 $1,412 2.92%
    43% 1 $35,000 $35,000 $509 2.50%
    48% 1 $75,000 $75,000 $434 2.50%
    37% 1 $145,000 $145,000 $1,202 2.50%
    >60% 1 $105,000 $105,000 $293 2.50%

    New Mexico Bank & Trust lent most frequently to those with DTI ratios of <20%, with 26 originations. The next most common DTI ratio? 20-30%, with 24 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 90 $14,960,000 $166,222 $1,360 3.01%
    Not applicable 19 $7,335,000 $386,053 $0 4.32%
    Not provided 18 $3,290,000 $182,778 $1,653 3.32%
    Asian 2 $370,000 $185,000 $623 2.50%
    American Indian 2 $340,000 $170,000 $873 2.83%
    Black 1 $75,000 $75,000 $453 2.75%

    Approval Rates

    Total approvals of all applications
    74.66%

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

    Pick Rate

    Approvals leading to origination
    75.00%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 132 $26,370,000 $199,773

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    132 $26,370,000 $199,773

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $3,785,000 $114,697 $1,165 3.20%
    40-60% 34 $9,830,000 $289,118 $1,170 3.27%
    60-80% 33 $7,725,000 $234,091 $1,897 3.36%
    80-100% 7 $3,095,000 $442,143 $6,045 3.35%
    Under 20% 24 $1,520,000 $63,333 $420 2.96%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    New Mexico Bank & Trust 1 First National Place Angel Fire, NM 87710 Full Service B&M $27,877
    New Mexico Bank & Trust 101 East Tucumcari 66 Boulevard Tucumcari, NM 88401 Full Service B&M $55,289
    New Mexico Bank & Trust 1104 South Second Street Raton, NM 87740 Full Service B&M $51,893
    New Mexico Bank & Trust 1475 Central Avenue Los Alamos, NM 87544 Full Service B&M $98,220
    New Mexico Bank & Trust 1549 Paseo De Peralta Santa Fe, NM 87501 Full Service B&M $138,001
    New Mexico Bank & Trust 1592 St. Michael's Drive Santa Fe, NM 87505 Full Service B&M $270,150
    New Mexico Bank & Trust 1612 East Spruce Street Portales, NM 88130 Full Service B&M $20,212
    New Mexico Bank & Trust 173-45 Us Highway 64 Tierra Amarilla, NM 87575 Full Service B&M $52,857
    New Mexico Bank & Trust 1810 Main Street Nw Los Lunas, NM 87031 Full Service B&M $86,208
    New Mexico Bank & Trust 2009 Ross Street Clovis, NM 88101 Full Service B&M $89
    New Mexico Bank & Trust 201 Main Street Clayton, NM 88415 Full Service B&M $60,692
    New Mexico Bank & Trust 219 East 7th Street Dalhart, TX 79022 Full Service B&M $4,017
    New Mexico Bank & Trust 2300 Louisiana Boulevard Ne Albuquerque, NM 87110 Full Service B&M $101,084
    New Mexico Bank & Trust 2458 Historic Route 66 Santa Rosa, NM 88435 Full Service B&M $37,885
    New Mexico Bank & Trust 301 South Us Highway 54 Logan, NM 88426 Full Service B&M $27,880
    New Mexico Bank & Trust 320 Gold Street, S.W. Albuquerque, NM 87102 Full Service B&M $435,352
    New Mexico Bank & Trust 3701 4th Street, Nw Albuquerque, NM 87107 Full Service B&M $45,827
    New Mexico Bank & Trust 4001 Southern Blvd. S.E. Rio Rancho, NM 87124 Full Service B&M $167,059
    New Mexico Bank & Trust 411 Carr Lane Espanola, NM 87532 Full Service B&M $50,667
    New Mexico Bank & Trust 6201 Riverside Plaza Lane Nw, Albuquerque, NM 87120 Full Service B&M $67,237
    New Mexico Bank & Trust 7021 Jefferson Ne Albuquerque, NM 87109 Full Service B&M $161,683
    New Mexico Bank & Trust 709 Pile Street Clovis, NM 88101 Full Service B&M $108,885
    New Mexico Bank & Trust 7830 Enchanted Hills Blvd Rio Rancho, NM 87124 Full Service B&M $39,755
    New Mexico Bank & Trust 9500 Montgomery Boulevard Ne, Sierra Vista Shopping Center Albuquerque, NM 87111 Full Service B&M $87,019

    For 2021, New Mexico Bank & Trust had 24 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $75,871
    Net interest income $74,467
    Total noninterest income $12,727
    Gross Fiduciary activities income $3,043
    Service charges on deposit accounts $4,013
    Trading account gains and fees $0
    Additional Noninterest Income $5,671
    Pre-tax net operating income $39,310
    Securities gains (or losses, -) $409
    Income before extraordinary items $30,619
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $30,619
    Minority interest net income $0
    Net income $30,619
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $30,295

    New Mexico Bank & Trust's gross interest income from loans was $75,871,000.
    New Mexico Bank & Trust's net interest income from loans was $74,467,000.
    New Mexico Bank & Trust's fee based income from loans was $4,013,000.
    New Mexico Bank & Trust's net income from loans was $30,619,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,404
    Provision for credit losses $-1,437
    Total noninterest expense $49,321
    Salaries and employee benefits $12,201
    Premises and equipment expense $4,100
    Additional noninterest expense $33,020
    Applicable income taxes $9,100
    Net charge-offs $1,779
    Cash dividends $18,500

    New Mexico Bank & Trust's interest expense for loans was $1,404,000.
    New Mexico Bank & Trust's payroll and benefits expense were $12,201,000.
    New Mexico Bank & Trust's property, plant and equipment expenses $4,100,000.

    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 0.3%
    Other individual loans 0.0%
    Auto loans 2.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $2,308,939
    Deposits held in domestic offices $2,308,939
    Deposits by Individuals, partnerships, and corporations $1,862,820
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $446,120
    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 $536,168
    Demand deposits $360,679
    Nontransaction accounts $1,772,772
    Money market deposit accounts (MMDAs) $1,392,271
    Other savings deposits (excluding MMDAs) $261,080
    Total time deposits $119,421
    Total time and savings deposits $1,948,261
    Noninterest-bearing deposits $969,887
    Interest-bearing deposits $1,339,052
    Retail deposits $2,269,009
    IRAs and Keogh plan accounts $17,170
    Brokered deposits $30,002
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,623,597
    Cash & Balances due from depository institutions $25,651
    Interest-bearing balances $3,829
    Total securities $1,089,967
    Federal funds sold & reverse repurchase $71,200
    Net loans and leases $1,325,117
    Loan and leases loss allowance $13,174
    Trading account assets $1,129
    Bank premises and fixed assets $32,170
    Other real estate owned $929
    Goodwill and other intangibles $25,917
    All other assets $51,517

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,623,597
    Total Liabilities $2,400,391
    Total deposits $2,308,939
    Interest-bearing deposits $1,339,052
    Deposits held in domestic offices $2,308,939
    % insured (estimated) $50
    Federal funds purchased and repurchase agreements $76,356
    Trading liabilities $1,129
    Other borrowed funds $3,834
    Subordinated debt $0
    All other liabilities $10,133

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,325,117
    Loan and leases loss allowance $13,174
    Total loans and leases (domestic) $1,338,291
    All real estate loans $904,883
    Real estate loans in domestic offices $904,883
    Construction and development loans $124,485
    Residential 1-4 family construction $22,271
    Other construction, all land development and other land $102,214
    Loans secured by nonfarm nonresidential properties $569,140
    Nonfarm nonresidential secured by owner-occupied properties $314,502
    Commercial real estate & other non-farm, non-residential $254,638
    Multifamily residential real estate $38,685
    1-4 family residential loans $111,243
    Farmland loans $61,330
    Loans held in foreign offices $0
    Farm loans $45,883
    Commercial and industrial loans $280,258
    To non-U.S. addressees $0
    Loans to individuals $11,367
    Credit card loans $1,029
    Related Plans $2,955
    Consumer Auto Loans $3,398
    Other loans to individuals $3,985
    All other loans & leases $95,900
    Loans to foreign governments and official institutions $0
    Other loans $368
    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 $1,325,117,000 of loans outstanding in 2021. $904,883,000 of loans were in real estate loans. $124,485,000 of loans were in development loans. $38,685,000 of loans were in multifamily mortgage loans. $111,243,000 of loans were in 1-4 family mortgage loans. $45,883,000 of loans were in farm loans. $1,029,000 of loans were in credit card loans. $3,398,000 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 492 $128,864 $261,919
    Nonfarm, nonresidential loans - <$100k 85 $2,849 $33,518
    Nonfarm, nonresidential loans - $100-250k 142 $18,142 $127,761
    Nonfarm, nonresidential loans - $250k-1MM 265 $107,873 $407,068
    Commercial & Industrial, US addressed loans - <$1MM 1,174 $77,436 $65,959
    Commercial & Industrial, US addressed loans - <$100k 783 $12,615 $16,111
    Commercial & Industrial, US addressed loans - $100-250k 194 $14,915 $76,881
    Commercial & Industrial, US addressed loans - $250k-1MM 197 $49,906 $253,330
    Farmland loans - <$1MM 84 $12,085 $143,869
    Farmland loans - <$100k 23 $722 $31,391
    Farmland loans - $100-250k 37 $4,255 $115,000
    Farmland loans - $250k-1MM 24 $7,108 $296,167
    Agriculture operations loans - <$1MM 265 $13,181 $49,740
    Agriculture operations loans - <$100k 180 $3,514 $19,522
    Agriculture operations loans - $100-250k 45 $2,482 $55,156
    Agriculture operations loans - $250k-1MM 40 $7,185 $179,625