First Financial Bank Mortgage Rates, Fees & Info

Bessemer, AL

LEI: 549300YIZECN2NB3I529

Tax ID: 63-0500811

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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, and Selma among others. We have data for 3 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 relatively high 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

    43

    Origination Dollar Volume (All Markets)

    $3,695,000

    Employee count

    71

    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) 37 $3,535,000 $95,541 $1,870 6.47%
    TUSCALOOSA, AL (FHA|USDA|VA) 5 $135,000 $27,000 $1,055 7.75%
    Selma, AL (FHA|USDA|VA) 1 $25,000 $25,000 $1,463 7.75%
    First Financial Bank's top markets include Birmingham, Tuscaloosa, and Selma among others.

    Their top states include:
  • Alabama (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.

    AMERICA'S FIRST
    Similarity Rank: 80
    Liberty Mortgage Corporation
    Similarity Rank: 748
    Eco Credit Union
    Similarity Rank: 805
    Progress Bank and Trust
    Similarity Rank: 1537
    APCO EMPLOYEES
    Similarity Rank: 1664
    AVADIAN
    Similarity Rank: 2040
    EvaBank
    Similarity Rank: 2640
    First Federal Bank, A FSB
    Similarity Rank: 2646
    HUNT MORTGAGE CORPORATION
    Similarity Rank: 2756
    CB&S Bank, Inc.
    Similarity Rank: 3906

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 42 $3,640,000 $86,667 $1,781 6.65%
    HELOC 1 $55,000 $55,000 n/a 6.50%

    For 2019, First Financial Bank's most frequently originated type of loan was Conventional, with 42 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 24 $2,430,000 $101,250 $2,496 6.89%
    Refi 9 $645,000 $71,667 $809 6.00%
    Cash Out Refi 6 $360,000 $60,000 $1,290 6.54%
    Home Improvement 3 $125,000 $41,667 $1,741 7.17%
    Other 1 $135,000 $135,000 $2,960 5.75%

    For 2019, First Financial Bank's most frequently cited loan purpose was Home Purchase, with 24 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 13 $1,235,000 $95,000 $2,165 6.46%
    1 Year 11 $995,000 $90,455 $0 7.82%
    Other 6 $380,000 $63,333 $762 6.13%
    5 Year 6 $410,000 $68,333 $786 6.62%
    30 Year 3 $435,000 $145,000 $3,449 5.17%
    10 Year 3 $185,000 $61,667 $2,100 5.75%
    3 Year 1 $55,000 $55,000 $0 6.50%

    For 2019, First Financial Bank's most frequently cited loan duration was 15 Year, with 13 originations. The 2nd most popular length was 1 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 14 $570,000 $40,714
    $1k-2k 7 $755,000 $107,857
    $2k-3k 1 $255,000 $255,000

    First Financial Bank's average total fees were $3,449, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 14 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 19 $1,725,000 $90,789
    7-8% 14 $940,000 $67,143
    6-7% 6 $580,000 $96,667
    4-5% 2 $420,000 $210,000
    Over 8% 2 $30,000 $15,000

    During 2019, First Financial Bank's average interest rate for loans was 5.17%, while their most frequently originated rate bucket for loans was 5-6%, with 19 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 31 $1,585,000 $51,129 $1,521 6.93%
    $100k-200k 9 $1,275,000 $141,667 $2,130 6.08%
    $200k-400k 3 $835,000 $278,333 $4,452 5.41%

    2019 saw First Financial Bank place emphasis on $100,000 or less loans with 31 originations, totaling $1,585,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 11 $945,000 $85,909 $718 7.68%
    $50k-75k 10 $390,000 $39,000 $1,404 6.22%
    $50k or less 9 $575,000 $63,889 $1,739 6.92%
    $75k-100k 6 $850,000 $141,667 $2,846 5.83%
    $100k-150k 4 $420,000 $105,000 $2,779 5.88%

    First Financial Bank lent most frequently to those with incomes in the $150k-250k range, with 11 originations. The second most popular income band? $50k-75k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 11 $665,000 $60,455 $1,470 6.70%
    30-36% 9 $705,000 $78,333 $2,198 6.30%
    44% 3 $375,000 $125,000 $2,162 5.92%
    47% 2 $50,000 $25,000 $1,321 5.63%
    <20% 2 $120,000 $60,000 $2,647 7.38%
    50-60% 1 $25,000 $25,000 $15 5.75%
    38% 1 $265,000 $265,000 $0 5.75%
    41% 1 $75,000 $75,000 $3,165 5.50%
    42% 1 $105,000 $105,000 $0 8.00%

    First Financial Bank lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? 30-36%, with 9 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 38 $2,620,000 $68,947 $1,738 6.76%
    Asian 3 $565,000 $188,333 $2,731 5.67%
    Not applicable 2 $510,000 $255,000 $0 6.00%

    Approval Rates

    Total approvals of all applications
    81.25%

    First Financial Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    62.79%

    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
    105.0 2 $30,000 $15,000
    NA 41 $3,665,000 $89,390

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 8 $300,000 $37,500
    Single Family (1-4 Units):Site-Built 35 $3,395,000 $97,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 4 $210,000 $52,500 $1,497 6.56%
    40-60% 10 $830,000 $83,000 $2,382 7.00%
    60-80% 20 $2,060,000 $103,000 $2,191 6.73%
    80-100% 4 $510,000 $127,500 $1,635 6.44%
    Under 20% 5 $85,000 $17,000 $652 5.85%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    FIRST FINANCIAL BANCORP Conventional home mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Financial Bank 119 Birmingham Rd Centreville, AL 35042 Full Service B&M $15,502
    First Financial Bank 1212 Main Street West Blocton, AL 35184 Full Service B&M $11,209
    First Financial Bank 1243 Hueytown Rd Hueytown, AL 35023 Full Service B&M $16,794
    First Financial Bank 1630 4th Avenue North Bessemer, AL 35020 Full Service B&M $53,845
    First Financial Bank 18704 Highway 11 North Vance, AL 35490 Full Service B&M $13,212
    First Financial Bank 28802 Highway 5 Woodstock, AL 35188 Full Service B&M $12,903
    First Financial Bank 3304 Pelham Parkway Pelham, AL 35124 Full Service B&M $6,515
    First Financial Bank 4790 Eastern Valley Road Mc Calla, AL 35111 Full Service B&M $19,258

    For 2019, First Financial Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,040
    Net interest income $5,758
    Total noninterest income $1,472
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,912
    Trading account gains and fees $0
    Additional Noninterest Income $-440
    Pre-tax net operating income $120
    Securities gains (or losses, -) $3
    Income before extraordinary items $28
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $28
    Minority interest net income $0
    Net income $28
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $25

    First Financial Bank's gross interest income from loans was $6,040,000.
    First Financial Bank's net interest income from loans was $5,758,000.
    First Financial Bank's fee based income from loans was $1,912,000.
    First Financial Bank's net income from loans was $28,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $282
    Provision for credit losses $118
    Total noninterest expense $6,992
    Salaries and employee benefits $3,738
    Premises and equipment expense $839
    Additional noninterest expense $2,415
    Applicable income taxes $95
    Net charge-offs $79
    Cash dividends $800

    First Financial Bank's interest expense for loans was $282,000.
    First Financial Bank's payroll and benefits expense were $3,738,000.
    First Financial Bank's property, plant and equipment expenses $839,000.

    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 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 $153,238
    Deposits held in domestic offices $153,238
    Deposits by Individuals, partnerships, and corporations $126,891
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $26,346
    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 $98,607
    Demand deposits $53,680
    Nontransaction accounts $54,631
    Money market deposit accounts (MMDAs) $1,991
    Other savings deposits (excluding MMDAs) $30,801
    Total time deposits $21,839
    Total time and savings deposits $99,558
    Noninterest-bearing deposits $53,680
    Interest-bearing deposits $99,558
    Retail deposits $152,603
    IRAs and Keogh plan accounts $5,466
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $169,024
    Cash & Balances due from depository institutions $12,314
    Interest-bearing balances $4,802
    Total securities $57,608
    Federal funds sold & reverse repurchase $0
    Net loans and leases $79,368
    Loan and leases loss allowance $817
    Trading account assets $0
    Bank premises and fixed assets $6,359
    Other real estate owned $294
    Goodwill and other intangibles $0
    All other assets $13,081

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $169,024
    Total Liabilities $153,705
    Total deposits $153,238
    Interest-bearing deposits $99,558
    Deposits held in domestic offices $153,238
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $467

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $79,368
    Loan and leases loss allowance $817
    Total loans and leases (domestic) $80,185
    All real estate loans $64,411
    Real estate loans in domestic offices $64,411
    Construction and development loans $6,986
    Residential 1-4 family construction $910
    Other construction, all land development and other land $6,076
    Loans secured by nonfarm nonresidential properties $32,365
    Nonfarm nonresidential secured by owner-occupied properties $14,233
    Commercial real estate & other non-farm, non-residential $18,132
    Multifamily residential real estate $2,500
    1-4 family residential loans $22,560
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $12,399
    To non-U.S. addressees $0
    Loans to individuals $3,262
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,190
    Other loans to individuals $2,072
    All other loans & leases $113
    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 $26
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    First Financial Bank had $79,368,000 of loans outstanding in 2019. $64,411,000 of loans were in real estate loans. $6,986,000 of loans were in development loans. $2,500,000 of loans were in multifamily mortgage loans. $22,560,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,190,000 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 86 $17,475 $203,198
    Nonfarm, nonresidential loans - <$100k 24 $856 $35,667
    Nonfarm, nonresidential loans - $100-250k 26 $3,108 $119,538
    Nonfarm, nonresidential loans - $250k-1MM 36 $13,511 $375,306
    Commercial & Industrial, US addressed loans - <$1MM 112 $7,910 $70,625
    Commercial & Industrial, US addressed loans - <$100k 72 $1,672 $23,222
    Commercial & Industrial, US addressed loans - $100-250k 23 $2,786 $121,130
    Commercial & Industrial, US addressed loans - $250k-1MM 17 $3,452 $203,059