The First State Bank Mortgage Rates, Fees & Info
Barboursville, WVLEI: 549300WI0D85GPCMEM61
Tax ID: 55-0171040
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Mortgage Data
Review & Overview
The First State Bank is a smaller bank specializing in Home Purchase and Refi loans. The First State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Huntington, Charleston, Zanesville, Columbus, and Morgantown among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)The First State 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. The First State 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.
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Originations
106Origination Dollar Volume (All Markets)
$16,340,000Top 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 |
|---|---|---|---|---|---|
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 39 | $6,555,000 | $168,077 | $3,544 | 4.51% |
| CHARLESTON, WV (FHA|USDA|VA) | 14 | $1,760,000 | $125,714 | $3,465 | 4.59% |
| Zanesville, OH (FHA|USDA|VA) | 11 | $1,605,000 | $145,909 | $3,456 | 4.73% |
| COLUMBUS, OH (FHA|USDA|VA) | 7 | $1,315,000 | $187,857 | $3,629 | 4.82% |
| MORGANTOWN, WV (FHA|USDA|VA) | 5 | $1,145,000 | $229,000 | $3,742 | 3.80% |
| Outside of Metro Areas | 10 | $1,000,000 | $100,000 | $3,721 | 4.70% |
| CANTON-MASSILLON, OH (FHA|USDA|VA) | 6 | $810,000 | $135,000 | $3,399 | 4.33% |
| KALAMAZOO-PORTAGE, MI (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $2,429 | 4.13% |
| OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $1,823 | 5.38% |
| Sidney, OH (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $3,480 | 3.38% |
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $3,780 | 3.75% |
| Cambridge, OH (FHA|USDA|VA) | 2 | $180,000 | $90,000 | $3,504 | 4.56% |
| Athens, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $4,651 | 3.00% |
| Clarksburg, WV (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,019 | 4.63% |
| BECKLEY, WV (FHA|USDA|VA) | 2 | $140,000 | $70,000 | $3,500 | 4.44% |
| Elkins, WV (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,353 | 4.63% |
| Fairmont, WV (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,495 | 4.63% |
| Marietta, OH (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,665 | 5.30% |
| Coshocton, OH (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $3,815 | 5.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against The First State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 91 | $14,705,000 | $161,593 | $3,402 | 4.55% |
| USDA | 15 | $1,635,000 | $109,000 | $4,447 | 4.38% |
For 2019, The First State Bank's most frequently originated type of loan was Conventional, with 91 originations. Their 2nd most popular type was USDA, with 15 originations.
Loan Reason
For 2019, The First State Bank's most frequently cited loan purpose was Home Purchase, with 62 originations. The 2nd most popular reason was Refi, with 24 originations.
Loan Duration/Length
For 2019, The First State Bank's most frequently cited loan duration was 30 Year, with 85 originations. The 2nd most popular length was 15 Year, with 17 originations.
Origination Fees/Closing Costs
The First State Bank's average total fees were $3,507, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 64 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 61 | $8,805,000 | $144,344 |
| 3-4% | 27 | $5,195,000 | $192,407 |
| 5-6% | 10 | $1,620,000 | $162,000 |
| 6-7% | 7 | $555,000 | $79,286 |
| 2.5-3% | 1 | $165,000 | $165,000 |
During 2019, The First State Bank's average interest rate for loans was 4.64%, while their most frequently originated rate bucket for loans was 4-5%, with 61 originations.
Loan Sizing
2019 saw The First State Bank place emphasis on $100k-200k loans with 50 originations, totaling $6,920,000 in origination value.
Applicant Income
The First State Bank lent most frequently to those with incomes in the $50k-75k range, with 46 originations. The second most popular income band? $50k or less, with 24 originations.
Applicant Debt to Income Ratio
The First State Bank lent most frequently to those with DTI ratios of 20-30%, with 27 originations. The next most common DTI ratio? 30-36%, with 22 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.09%
The First State 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 origination83.96%
The First State Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 106 | $16,340,000 | $154,151 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $140,000 | $70,000 |
| Single Family (1-4 Units):Site-Built | 104 | $16,200,000 | $155,769 |