First Bank Mortgage Rates, Fees & Info
Hamilton, NJLEI: 549300YS4CB1171BRJ08
Tax ID: 20-8164471
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Mortgage Data
Bank Data
Review & Overview
First Bank is a smaller bank specializing in Refi and Home Purchase loans. First Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Salisbury, Trenton, and Edwards among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)First Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
128Origination Dollar Volume (All Markets)
$117,230,000Employee count
204Top 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 |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 45 | $67,565,000 | $1,501,444 | $0 | 0.00% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 43 | $23,165,000 | $538,721 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $16,260,000 | $8,130,000 | $0 | 0.00% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 26 | $4,950,000 | $190,385 | $0 | 0.00% |
| Edwards, CO (FHA|USDA|VA) | 1 | $2,135,000 | $2,135,000 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 4 | $2,050,000 | $512,500 | $0 | 0.00% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 4 | $410,000 | $102,500 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $135,000 | $135,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 128 | $117,230,000 | $915,859 | $0 | 0.00% |
For 2020, First Bank's most frequently originated type of loan was Conventional, with 128 originations.
Loan Reason
For 2020, First Bank's most frequently cited loan purpose was Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 49 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 128 | $117,230,000 | $915,859 | $0 | 0.00% |
For 2020, First Bank's most frequently cited loan duration was Other, with 128 originations.
Loan Sizing
2020 saw First Bank place emphasis on $200k-400k loans with 38 originations, totaling $10,660,000 in origination value.
Applicant Income
First Bank lent most frequently to those with incomes in the $100k-150k range, with 20 originations. The second most popular income band? $150k-250k, with 19 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 128 | $117,230,000 | $915,859 | $0 | 0.00% |
First Bank lent most frequently to those with DTI ratios of Exempt%, with 128 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.73%
First 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 origination99.22%
First Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 128 | $117,230,000 | $915,859 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| FIRST HORIZON BANK | Conventional home mortgage | Closing on a mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Conventional home mortgage | Trouble during payment process | 4 | 26.7% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 3 | 20.0% |
| FIRST HORIZON BANK | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Closing on a mortgage | 2 | 13.3% |
| FIRST HORIZON BANK | Other type of mortgage | Struggling to pay mortgage | 1 | 6.7% |
| FIRST HORIZON BANK | Other type of mortgage | Trouble during payment process | 2 | 13.3% |
| FIRST HORIZON BANK | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 6.7% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| First Bank | 1020 North Blackhorse Pike Williamstown, NJ 8094 | Full Service B&M | $79,325 |
| First Bank | 1206 Sussex Turnpike Randolph, NJ 7869 | Full Service B&M | $113,767 |
| First Bank | 121 N. Walnut Street, Suite 302 West Chester, PA 19382 | Full Service B&M | $48,841 |
| First Bank | 1340 Parkway Avenue Ewing, NJ 8628 | Full Service B&M | $117,581 |
| First Bank | 200 S Main Street Doylestown, PA 18901 | Full Service B&M | $109,339 |
| First Bank | 225 Demott Lane Somerset, NJ 8873 | Full Service B&M | $109,617 |
| First Bank | 2265 Route 33 Hamilton, NJ 8690 | Full Service B&M | $52,792 |
| First Bank | 2465 Kuser Road Hamilton, NJ 8690 | Full Service B&M | $202,618 |
| First Bank | 2664 Route 130 Cranbury, NJ 8512 | Full Service B&M | $63,901 |
| First Bank | 3 Tree Farm Road Pennington, NJ 8534 | Full Service B&M | $32,791 |
| First Bank | 334 Route 31 Flemington, NJ 8822 | Full Service B&M | $129,254 |
| First Bank | 356 York Road Warminster, PA 18974 | Full Service B&M | $106,758 |
| First Bank | 4956-4966 Old Street Road Trevose, PA 19053 | Full Service B&M | $96,162 |
| First Bank | 506 Route 130 N Cinnaminson, NJ 8077 | Full Service B&M | $54,184 |
| First Bank | 530 East Main Street Denville, NJ 7834 | Full Service B&M | $113,135 |
| First Bank | 590 Lawrence Square Blvd. South Lawrenceville, NJ 8648 | Full Service B&M | $296,759 |
| First Bank | 615 Burlington Ave Delanco, NJ 8075 | Full Service B&M | $79,588 |
| First Bank | One Edinburg Road Hamilton, NJ 8619 | Full Service B&M | $116,854 |
For 2020, First Bank had 18 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $89,201 |
| Net interest income | $69,553 |
| Total noninterest income | $6,663 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $629 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $6,034 |
| Pre-tax net operating income | $25,979 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $19,448 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $19,448 |
| Minority interest net income | $0 |
| Net income | $19,448 |
| Sale, conversion, retirement of capital stock, net | $-6,162 |
| Net operating income | $19,448 |
First Bank's gross interest income from loans was $89,201,000.
First Bank's net interest income from loans was $69,553,000.
First Bank's fee based income from loans was $629,000.
First Bank's net income from loans was $19,448,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $19,648 |
| Provision for credit losses | $9,539 |
| Total noninterest expense | $40,698 |
| Salaries and employee benefits | $22,809 |
| Premises and equipment expense | $6,130 |
| Additional noninterest expense | $11,759 |
| Applicable income taxes | $6,531 |
| Net charge-offs | $2,810 |
| Cash dividends | $2,384 |
First Bank's interest expense for loans was $19,648,000.
First Bank's payroll and benefits expense were $22,809,000.
First Bank's property, plant and equipment expenses $6,130,000.
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 | 1.0% |
| HELOC loans | 1.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 1.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 1.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $1,903,617 |
| Deposits held in domestic offices | $1,903,617 |
| Deposits by Individuals, partnerships, and corporations | $1,699,485 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $192,373 |
| Deposits by Commercial banks and other depository institutions in U.S. | $11,759 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $124,656 |
| Demand deposits | $88,619 |
| Nontransaction accounts | $1,778,961 |
| Money market deposit accounts (MMDAs) | $602,648 |
| Other savings deposits (excluding MMDAs) | $652,336 |
| Total time deposits | $523,977 |
| Total time and savings deposits | $1,814,998 |
| Noninterest-bearing deposits | $424,119 |
| Interest-bearing deposits | $1,479,498 |
| Retail deposits | $1,609,786 |
| IRAs and Keogh plan accounts | $50,338 |
| Brokered deposits | $175,619 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $2,346,270 |
| Cash & Balances due from depository institutions | $99,844 |
| Interest-bearing balances | $75,641 |
| Total securities | $99,325 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $2,023,598 |
| Loan and leases loss allowance | $23,974 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $17,835 |
| Other real estate owned | $575 |
| Goodwill and other intangibles | $17,998 |
| All other assets | $87,095 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $2,346,270 |
| Total Liabilities | $2,108,162 |
| Total deposits | $1,903,617 |
| Interest-bearing deposits | $1,479,498 |
| Deposits held in domestic offices | $1,903,617 |
| % insured (estimated) | $56 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $383 |
| Other borrowed funds | $161,135 |
| Subordinated debt | $29,508 |
| All other liabilities | $13,519 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $2,023,598 |
| Loan and leases loss allowance | $23,974 |
| Total loans and leases (domestic) | $2,047,572 |
| All real estate loans | $1,633,450 |
| Real estate loans in domestic offices | $1,633,450 |
| Construction and development loans | $149,283 |
| Residential 1-4 family construction | $3,400 |
| Other construction, all land development and other land | $145,883 |
| Loans secured by nonfarm nonresidential properties | $1,186,047 |
| Nonfarm nonresidential secured by owner-occupied properties | $407,089 |
| Commercial real estate & other non-farm, non-residential | $778,958 |
| Multifamily residential real estate | $144,525 |
| 1-4 family residential loans | $153,595 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $388,886 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $4,424 |
| Credit card loans | $0 |
| Related Plans | $3,118 |
| Consumer Auto Loans | $56 |
| Other loans to individuals | $1,250 |
| All other loans & leases | $25,945 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $25,945 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $445 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $500 |
| Non 1-4 family restructured loans & leases | $500 |
| Total loans and leases (foreign) | $0 |
First Bank had $2,023,598,000 of loans outstanding in 2020. $1,633,450,000 of loans were in real estate loans. $149,283,000 of loans were in development loans. $144,525,000 of loans were in multifamily mortgage loans. $153,595,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $56,000 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 | 696 | $230,239 | $330,803 |
| Nonfarm, nonresidential loans - <$100k | 38 | $1,334 | $35,105 |
| Nonfarm, nonresidential loans - $100-250k | 161 | $18,967 | $117,807 |
| Nonfarm, nonresidential loans - $250k-1MM | 497 | $209,938 | $422,410 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,527 | $196,767 | $128,859 |
| Commercial & Industrial, US addressed loans - <$100k | 801 | $26,881 | $33,559 |
| Commercial & Industrial, US addressed loans - $100-250k | 367 | $42,486 | $115,766 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 359 | $127,400 | $354,875 |