First Financial Bank Mortgage Rates, Fees & Info

Bessemer, AL

LEI: 549300YIZECN2NB3I529

Tax ID: 63-0500811

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
  • Complaints
  • 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

    First Financial Bank is a smaller bank specializing in Home Purchase loans. First Financial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Tuscaloosa, Sevierville, Mobile, and Selma among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Financial Bank 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. First Financial 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.

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    Originations

    51

    Origination Dollar Volume (All Markets)

    $4,665,000

    Employee count

    73

    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
    BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 40 $4,060,000 $101,500 $2,215 6.64%
    TUSCALOOSA, AL (FHA|USDA|VA) 8 $350,000 $43,750 $1,199 6.44%
    Sevierville, TN (FHA|USDA|VA) 1 $175,000 $175,000 $3,282 5.50%
    MOBILE, AL (FHA|USDA|VA) 1 $55,000 $55,000 $2,243 5.75%
    Selma, AL (FHA|USDA|VA) 1 $25,000 $25,000 $2,080 7.63%
    First Financial Bank's top markets include Birmingham, Tuscaloosa, Sevierville, Mobile, and Selma among others.

    Their top states include:
  • Alabama (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

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

    Jefferson Credit Union
    Similarity Rank: 228
    Eco Credit Union
    Similarity Rank: 368
    Liberty Mortgage Corporation
    Similarity Rank: 432
    APCO EMPLOYEES
    Similarity Rank: 957
    AMERICA'S FIRST
    Similarity Rank: 1095
    BANKSOUTH MORTGAGE COMPANY, LLC
    Similarity Rank: 1771
    First Federal Bank, A FSB
    Similarity Rank: 1995
    Progress Bank and Trust
    Similarity Rank: 2576
    Consumer First Mortgage, Inc.
    Similarity Rank: 2660
    Cadence Bank, N.A.
    Similarity Rank: 2756

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 50 $4,320,000 $86,400 $2,111 6.60%
    HELOC 1 $345,000 $345,000 n/a 6.00%

    For 2018, First Financial Bank's most frequently originated type of loan was Conventional, with 50 originations. Their 2nd most popular type was HELOC, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 32 $3,670,000 $114,688 $2,619 6.67%
    Refi 8 $350,000 $43,750 $878 5.97%
    Other 5 $305,000 $61,000 $2,438 7.08%
    Cash Out Refi 4 $220,000 $55,000 $1,478 6.81%
    Home Improvement 2 $120,000 $60,000 $1,981 6.13%

    For 2018, First Financial Bank's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Refi, with 8 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 15 $1,195,000 $79,667 $1,848 6.21%
    1 Year 12 $1,390,000 $115,833 $3,849 7.60%
    30 Year 8 $1,580,000 $197,500 $3,089 5.45%
    10 Year 7 $245,000 $35,000 $1,681 6.99%
    3 Year 3 $25,000 $8,333 $0 7.46%
    5 Year 3 $65,000 $21,667 $1,035 6.50%
    Other 3 $165,000 $55,000 $1,556 5.75%

    For 2018, First Financial Bank's most frequently cited loan duration was 15 Year, with 15 originations. The 2nd most popular length was 1 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 21 $1,435,000 $68,333
    $1k-2k 6 $740,000 $123,333
    $3k-4k 2 $620,000 $310,000
    $2k-3k 1 $185,000 $185,000

    First Financial Bank's average total fees were $3,089, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 21 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 25 $2,805,000 $112,200
    7-8% 13 $785,000 $60,385
    Over 8% 6 $330,000 $55,000
    6-7% 4 $250,000 $62,500
    4-5% 3 $495,000 $165,000

    During 2018, First Financial Bank's average interest rate for loans was 5.45%, while their most frequently originated rate bucket for loans was 5-6%, with 25 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 37 $1,795,000 $48,514 $1,600 6.87%
    $100k-200k 9 $1,205,000 $133,889 $2,564 5.75%
    $200k-400k 4 $1,210,000 $302,500 $5,356 6.31%
    $400k-600k 1 $455,000 $455,000 $1,712 5.00%

    2018 saw First Financial Bank place emphasis on $100,000 or less loans with 37 originations, totaling $1,795,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 14 $930,000 $66,429 $1,947 6.01%
    $50k or less 14 $940,000 $67,143 $2,388 6.84%
    $150k-250k 13 $1,375,000 $105,769 $1,592 7.31%
    $75k-100k 5 $405,000 $81,000 $1,972 6.08%
    $100k-150k 3 $425,000 $141,667 $2,286 5.50%

    First Financial Bank lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $50k or less, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 8 $650,000 $81,250 $2,279 6.66%
    41% 7 $895,000 $127,857 $1,712 7.14%
    <20% 7 $365,000 $52,143 $1,268 5.80%
    20-30% 6 $320,000 $53,333 $1,339 6.08%
    42% 4 $640,000 $160,000 $4,741 5.88%
    36% 4 $380,000 $95,000 $2,275 7.31%
    37% 3 $295,000 $98,333 $2,336 5.75%
    39% 3 $95,000 $31,667 $2,652 8.31%
    38% 2 $110,000 $55,000 $766 6.88%
    49% 1 $105,000 $105,000 $2,762 5.75%
    40% 1 $55,000 $55,000 $2,044 5.13%
    43% 1 $85,000 $85,000 $0 8.00%
    44% 1 $55,000 $55,000 $2,563 6.25%
    45% 1 $25,000 $25,000 $2,080 7.63%

    First Financial Bank lent most frequently to those with DTI ratios of 30-36%, with 8 originations. The next most common DTI ratio? 41%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 40 $2,900,000 $72,500 $1,899 6.61%
    Asian 3 $765,000 $255,000 $5,356 5.67%
    Not applicable 2 $590,000 $295,000 $0 7.13%
    Asian Indian 2 $210,000 $105,000 $1,632 5.63%
    Black 4 $200,000 $50,000 $0 7.31%

    Approval Rates

    Total approvals of all applications
    80.56%

    First Financial Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    33.33%

    First Financial 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
    100.0 1 $35,000 $35,000
    105.0 3 $25,000 $8,333
    NA 47 $4,605,000 $97,979

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $345,000 $345,000
    Single Family (1-4 Units):Manufactured 12 $410,000 $34,167
    Single Family (1-4 Units):Site-Built 38 $3,910,000 $102,895

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $300,000 $50,000 $854 5.52%
    40-60% 3 $255,000 $85,000 $1,293 5.58%
    60-80% 26 $2,560,000 $98,462 $2,464 6.67%
    80-100% 13 $1,505,000 $115,769 $2,639 6.95%
    Under 20% 3 $45,000 $15,000 $1,361 7.46%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST HORIZON BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Incorrect information on your report 1 7.1%
    FIRST HORIZON BANK Other type of mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Trouble during payment process 1 7.1%
    FIRST HORIZON BANK FHA mortgage Trouble during payment process 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Trouble during payment process 5 35.7%
    FIRST HORIZON BANK Home equity loan or line of credit (HELOC) Problem with a credit reporting company's investigation into an existing problem 1 7.1%
    FIRST HORIZON BANK Conventional home mortgage Struggling to pay mortgage 3 21.4%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Financial Bank 119 Birmingham Rd Centreville, AL 35042 Full Service B&M $14,752
    First Financial Bank 1212 Main Street West Blocton, AL 35184 Full Service B&M $11,119
    First Financial Bank 1243 Hueytown Rd Hueytown, AL 35023 Full Service B&M $17,999
    First Financial Bank 1630 4th Avenue North Bessemer, AL 35020 Full Service B&M $51,402
    First Financial Bank 18704 Highway 11 North Vance, AL 35490 Full Service B&M $11,713
    First Financial Bank 28802 Highway 5 Woodstock, AL 35188 Full Service B&M $11,826
    First Financial Bank 3304 Pelham Parkway Pelham, AL 35124 Full Service B&M $5,993
    First Financial Bank 4790 Eastern Valley Road Mc Calla, AL 35111 Full Service B&M $19,228

    For 2018, First Financial Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $5,262
    Net interest income $4,980
    Total noninterest income $3,295
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,855
    Trading account gains and fees $0
    Additional Noninterest Income $1,440
    Pre-tax net operating income $1,513
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,513
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,513
    Minority interest net income $0
    Net income $1,513
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,513

    First Financial Bank's gross interest income from loans was $5,262,000.
    First Financial Bank's net interest income from loans was $4,980,000.
    First Financial Bank's fee based income from loans was $1,855,000.
    First Financial Bank's net income from loans was $1,513,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $282
    Provision for credit losses $159
    Total noninterest expense $6,603
    Salaries and employee benefits $3,597
    Premises and equipment expense $823
    Additional noninterest expense $2,183
    Applicable income taxes $0
    Net charge-offs $96
    Cash dividends $1,457

    First Financial Bank's interest expense for loans was $282,000.
    First Financial Bank's payroll and benefits expense were $3,597,000.
    First Financial Bank's property, plant and equipment expenses $823,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 1.0%
    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 $144,658
    Deposits held in domestic offices $144,658
    Deposits by Individuals, partnerships, and corporations $122,590
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $22,067
    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 $87,806
    Demand deposits $48,497
    Nontransaction accounts $56,852
    Money market deposit accounts (MMDAs) $2,205
    Other savings deposits (excluding MMDAs) $30,443
    Total time deposits $24,204
    Total time and savings deposits $96,161
    Noninterest-bearing deposits $48,497
    Interest-bearing deposits $96,161
    Retail deposits $144,024
    IRAs and Keogh plan accounts $5,941
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $159,954
    Cash & Balances due from depository institutions $8,352
    Interest-bearing balances $2,224
    Total securities $53,310
    Federal funds sold & reverse repurchase $0
    Net loans and leases $76,597
    Loan and leases loss allowance $778
    Trading account assets $0
    Bank premises and fixed assets $6,408
    Other real estate owned $2,131
    Goodwill and other intangibles $0
    All other assets $13,156

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $159,954
    Total Liabilities $144,776
    Total deposits $144,658
    Interest-bearing deposits $96,161
    Deposits held in domestic offices $144,658
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $118

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $76,597
    Loan and leases loss allowance $778
    Total loans and leases (domestic) $77,375
    All real estate loans $63,600
    Real estate loans in domestic offices $63,600
    Construction and development loans $3,390
    Residential 1-4 family construction $1,012
    Other construction, all land development and other land $2,378
    Loans secured by nonfarm nonresidential properties $34,986
    Nonfarm nonresidential secured by owner-occupied properties $18,115
    Commercial real estate & other non-farm, non-residential $16,871
    Multifamily residential real estate $0
    1-4 family residential loans $25,224
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $10,748
    To non-U.S. addressees $0
    Loans to individuals $3,014
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $709
    Other loans to individuals $2,305
    All other loans & leases $13
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $1,320
    Non 1-4 family restructured loans & leases $1,293
    Total loans and leases (foreign) $0

    First Financial Bank had $76,597,000 of loans outstanding in 2018. $63,600,000 of loans were in real estate loans. $3,390,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $25,224,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $709,000 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 93 $17,118 $184,065
    Nonfarm, nonresidential loans - <$100k 31 $1,137 $36,677
    Nonfarm, nonresidential loans - $100-250k 23 $2,451 $106,565
    Nonfarm, nonresidential loans - $250k-1MM 39 $13,530 $346,923
    Commercial & Industrial, US addressed loans - <$1MM 110 $8,799 $79,991
    Commercial & Industrial, US addressed loans - <$100k 74 $1,722 $23,270
    Commercial & Industrial, US addressed loans - $100-250k 20 $2,611 $130,550
    Commercial & Industrial, US addressed loans - $250k-1MM 16 $4,466 $279,125