First Financial Bank Mortgage Rates, Fees & Info

Bessemer, AL

LEI: 549300YIZECN2NB3I529

Tax ID: 63-0500811

Latest/2023 | 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 and Refi loans. First Financial Bank has a high proportion of conventional loans. Their top markets by origination volume include: Birmingham, Tuscaloosa, Daphne, Jasper, and Montgomery among others. We have data for 6 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

    73

    Origination Dollar Volume (All Markets)

    $10,495,000

    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) 56 $8,410,000 $150,179 $3,040 4.31%
    TUSCALOOSA, AL (FHA|USDA|VA) 11 $1,295,000 $117,727 $2,413 3.97%
    DAPHNE-FAIRHOPE-FOLEY, AL (FHA|USDA|VA) 1 $365,000 $365,000 $6,053 3.00%
    Jasper, AL (FHA|USDA|VA) 3 $255,000 $85,000 $2,811 5.21%
    MONTGOMERY, AL (FHA|USDA|VA) 1 $155,000 $155,000 $3,779 2.75%
    Outside of Metro Areas 1 $15,000 $15,000 $1,458 5.25%
    First Financial Bank's top markets include Birmingham, Tuscaloosa, Daphne, Jasper, and Montgomery 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.

    Liberty Mortgage Corporation
    Similarity Rank: 630
    Jefferson Credit Union
    Similarity Rank: 702
    First Financial Bank
    Similarity Rank: 918
    Independent Bank
    Similarity Rank: 1200
    Community Bank of Mississippi
    Similarity Rank: 1786
    Alabama One Credit Union
    Similarity Rank: 1860
    Progress Bank and Trust
    Similarity Rank: 2430
    AMERICA'S FIRST
    Similarity Rank: 2635
    Consumer First Mortgage, Inc.
    Similarity Rank: 2996
    Guardian Credit Union
    Similarity Rank: 3420

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 73 $10,495,000 $143,767 $2,955 4.27%

    For 2020, First Financial Bank's most frequently originated type of loan was Conventional, with 73 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 33 $4,825,000 $146,212 $3,027 4.71%
    Cash Out Refi 16 $1,940,000 $121,250 $2,575 3.97%
    Refi 14 $2,420,000 $172,857 $3,267 2.96%
    Other 7 $835,000 $119,286 $2,950 4.59%
    Home Improvement 3 $475,000 $158,333 $0 6.25%

    For 2020, First Financial Bank's most frequently cited loan purpose was Home Purchase, with 33 originations. The 2nd most popular reason was Cash Out Refi, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 32 $5,970,000 $186,563 $3,494 3.39%
    15 Year 23 $2,735,000 $118,913 $2,407 3.97%
    1 Year 11 $1,395,000 $126,818 $4,985 6.89%
    10 Year 3 $145,000 $48,333 $1,779 5.50%
    5 Year 3 $105,000 $35,000 $1,723 4.92%
    20 Year 1 $145,000 $145,000 $0 4.50%

    For 2020, First Financial Bank's most frequently cited loan duration was 30 Year, with 32 originations. The 2nd most popular length was 15 Year, with 23 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 26 $3,750,000 $144,231
    $<1k 21 $1,535,000 $73,095
    $2k-3k 8 $1,720,000 $215,000
    $3k-4k 4 $1,310,000 $327,500
    $5k+ 1 $505,000 $505,000

    First Financial Bank's average total fees were $3,494, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 26 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 22 $4,130,000 $187,727
    3-4% 14 $2,130,000 $152,143
    5-6% 10 $940,000 $94,000
    4-5% 8 $1,220,000 $152,500
    7-8% 7 $605,000 $86,429
    <2.5% 6 $850,000 $141,667
    6-7% 6 $620,000 $103,333

    During 2020, First Financial Bank's average interest rate for loans was 3.39%, while their most frequently originated rate bucket for loans was 2.5-3%, with 22 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 31 $1,965,000 $63,387 $2,180 5.09%
    $100k-200k 22 $3,030,000 $137,727 $2,755 3.81%
    $200k-400k 19 $4,995,000 $262,895 $4,070 3.41%
    $400k-600k 1 $505,000 $505,000 $7,515 4.99%

    2020 saw First Financial Bank place emphasis on $100,000 or less loans with 31 originations, totaling $1,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 18 $2,980,000 $165,556 $3,233 3.55%
    $75k-100k 15 $2,205,000 $147,000 $3,077 4.01%
    $150k-250k 13 $2,335,000 $179,615 $3,942 5.44%
    $50k or less 13 $995,000 $76,538 $2,236 4.39%
    $100k-150k 10 $1,140,000 $114,000 $2,405 3.50%

    First Financial Bank lent most frequently to those with incomes in the $50k-75k range, with 18 originations. The second most popular income band? $75k-100k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 14 $1,790,000 $127,857 $2,781 3.42%
    30-36% 14 $2,110,000 $150,714 $3,022 3.67%
    <20% 13 $1,385,000 $106,538 $2,342 3.73%
    38% 4 $480,000 $120,000 $2,549 4.50%
    37% 4 $520,000 $130,000 $2,979 4.81%
    41% 3 $745,000 $248,333 $4,187 3.42%
    36% 3 $575,000 $191,667 $3,561 2.67%
    44% 2 $370,000 $185,000 $4,080 4.50%
    49% 1 $145,000 $145,000 $0 4.50%
    39% 1 $75,000 $75,000 $2,054 5.50%
    40% 1 $225,000 $225,000 $4,693 2.88%
    42% 1 $135,000 $135,000 $1,116 2.50%
    43% 1 $25,000 $25,000 $2,002 6.25%

    First Financial Bank lent most frequently to those with DTI ratios of 20-30%, with 14 originations. The next most common DTI ratio? 30-36%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 54 $6,800,000 $125,926 $2,742 4.24%
    Asian 6 $1,650,000 $275,000 $5,567 3.58%
    Not applicable 4 $840,000 $210,000 $0 6.13%
    Black 7 $805,000 $115,000 $2,143 4.36%
    Asian Indian 2 $400,000 $200,000 $4,266 2.88%

    Approval Rates

    Total approvals of all applications
    88.24%

    First Financial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    63.01%

    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
    NA 73 $10,495,000 $143,767

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 2 $100,000 $50,000
    Single Family (1-4 Units):Site-Built 71 $10,395,000 $146,408

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $595,000 $66,111 $2,337 4.07%
    40-60% 22 $3,130,000 $142,273 $2,890 3.72%
    60-80% 29 $4,625,000 $159,483 $3,175 5.00%
    80-100% 13 $2,145,000 $165,000 $3,183 3.68%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FIRST FINANCIAL BANCORP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    FIRST FINANCIAL BANCORP Other type of mortgage Closing on a mortgage 1 14.3%
    FIRST FINANCIAL BANCORP Home equity loan or line of credit (HELOC) Trouble during payment process 1 14.3%
    FIRST FINANCIAL BANCORP Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 28.6%
    FIRST FINANCIAL BANCORP Conventional home mortgage Trouble during payment process 1 14.3%
    FIRST FINANCIAL BANCORP Conventional home mortgage Struggling to pay mortgage 1 14.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Financial Bank 119 Birmingham Rd Centreville, AL 35042 Full Service B&M $18,865
    First Financial Bank 1212 Main Street West Blocton, AL 35184 Full Service B&M $13,008
    First Financial Bank 1243 Hueytown Rd Hueytown, AL 35023 Full Service B&M $20,820
    First Financial Bank 1630 4th Avenue North Bessemer, AL 35020 Full Service B&M $61,849
    First Financial Bank 18704 Highway 11 North Vance, AL 35490 Full Service B&M $14,818
    First Financial Bank 28802 Highway 5 Woodstock, AL 35188 Full Service B&M $17,984
    First Financial Bank 3304 Pelham Parkway Pelham, AL 35124 Full Service B&M $10,310
    First Financial Bank 4790 Eastern Valley Road Mc Calla, AL 35111 Full Service B&M $21,963

    For 2020, First Financial Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,152
    Net interest income $5,879
    Total noninterest income $3,707
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,492
    Trading account gains and fees $0
    Additional Noninterest Income $2,215
    Pre-tax net operating income $2,326
    Securities gains (or losses, -) $1,009
    Income before extraordinary items $3,263
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,263
    Minority interest net income $0
    Net income $3,263
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,274

    First Financial Bank's gross interest income from loans was $6,152,000.
    First Financial Bank's net interest income from loans was $5,879,000.
    First Financial Bank's fee based income from loans was $1,492,000.
    First Financial Bank's net income from loans was $3,263,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $273
    Provision for credit losses $93
    Total noninterest expense $7,167
    Salaries and employee benefits $3,714
    Premises and equipment expense $849
    Additional noninterest expense $2,604
    Applicable income taxes $72
    Net charge-offs $69
    Cash dividends $630

    First Financial Bank's interest expense for loans was $273,000.
    First Financial Bank's payroll and benefits expense were $3,714,000.
    First Financial Bank's property, plant and equipment expenses $849,000.

    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 0.0%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $188,243
    Deposits held in domestic offices $188,243
    Deposits by Individuals, partnerships, and corporations $157,402
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $30,840
    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 $123,242
    Demand deposits $72,504
    Nontransaction accounts $65,001
    Money market deposit accounts (MMDAs) $3,682
    Other savings deposits (excluding MMDAs) $36,831
    Total time deposits $24,488
    Total time and savings deposits $115,739
    Noninterest-bearing deposits $72,504
    Interest-bearing deposits $115,739
    Retail deposits $182,974
    IRAs and Keogh plan accounts $5,488
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $208,378
    Cash & Balances due from depository institutions $35,723
    Interest-bearing balances $28,039
    Total securities $61,723
    Federal funds sold & reverse repurchase $0
    Net loans and leases $91,397
    Loan and leases loss allowance $841
    Trading account assets $0
    Bank premises and fixed assets $6,253
    Other real estate owned $349
    Goodwill and other intangibles $0
    All other assets $12,933

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $208,378
    Total Liabilities $188,884
    Total deposits $188,243
    Interest-bearing deposits $115,739
    Deposits held in domestic offices $188,243
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $641

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $91,397
    Loan and leases loss allowance $841
    Total loans and leases (domestic) $92,238
    All real estate loans $67,203
    Real estate loans in domestic offices $67,203
    Construction and development loans $7,899
    Residential 1-4 family construction $1,617
    Other construction, all land development and other land $6,282
    Loans secured by nonfarm nonresidential properties $33,271
    Nonfarm nonresidential secured by owner-occupied properties $20,813
    Commercial real estate & other non-farm, non-residential $12,458
    Multifamily residential real estate $10
    1-4 family residential loans $26,023
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $21,963
    To non-U.S. addressees $0
    Loans to individuals $3,072
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $534
    Other loans to individuals $2,538
    All other loans & leases $0
    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 $72
    Non 1-4 family restructured loans & leases $49
    Total loans and leases (foreign) $0

    First Financial Bank had $91,397,000 of loans outstanding in 2020. $67,203,000 of loans were in real estate loans. $7,899,000 of loans were in development loans. $10,000 of loans were in multifamily mortgage loans. $26,023,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $534,000 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 88 $20,339 $231,125
    Nonfarm, nonresidential loans - <$100k 24 $887 $36,958
    Nonfarm, nonresidential loans - $100-250k 21 $2,319 $110,429
    Nonfarm, nonresidential loans - $250k-1MM 43 $17,133 $398,442
    Commercial & Industrial, US addressed loans - <$1MM 477 $18,941 $39,709
    Commercial & Industrial, US addressed loans - <$100k 416 $9,559 $22,978
    Commercial & Industrial, US addressed loans - $100-250k 43 $5,399 $125,558
    Commercial & Industrial, US addressed loans - $250k-1MM 18 $3,983 $221,278