First Citizens Bank Mortgage Rates, Fees & Info

Luverne, AL

LEI: 549300ZX7CMZ93QCZQ91

Tax ID: 63-0789504

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
  • 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 Citizens Bank is a smaller bank specializing in Refi and Home Purchase loans. First Citizens Bank has a high proportion of conventional loans. Their top markets by origination volume include: Montgomery, Crestview, Lagrange, Troy, and Tuscaloosa among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Citizens Bank has an average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. First Citizens 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.

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    Originations

    130

    Origination Dollar Volume (All Markets)

    $11,970,000

    Employee count

    65

    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
    Outside of Metro Areas 94 $6,750,000 $71,809 $1,303 8.08%
    MONTGOMERY, AL (FHA|USDA|VA) 22 $2,240,000 $101,818 $1,601 7.36%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 2 $1,970,000 $985,000 $8,065 5.13%
    LaGrange, GA-AL (FHA|USDA|VA) 1 $495,000 $495,000 $0 6.00%
    Troy, AL (FHA|USDA|VA) 8 $320,000 $40,000 $726 8.05%
    TUSCALOOSA, AL (FHA|USDA|VA) 2 $160,000 $80,000 $455 7.30%
    DOTHAN, AL (FHA|USDA|VA) 1 $35,000 $35,000 $1,818 8.01%
    First Citizens Bank's top markets include Montgomery, Crestview, Lagrange, Troy, and Tuscaloosa among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 130 $11,970,000 $92,077 $1,443 7.88%

    For 2018, First Citizens Bank's most frequently originated type of loan was Conventional, with 130 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 63 $4,915,000 $78,016 $971 7.64%
    Home Purchase 58 $6,870,000 $118,448 $2,343 8.04%
    Other 6 $100,000 $16,667 $872 8.67%
    Home Improvement 3 $85,000 $28,333 $968 8.33%

    For 2018, First Citizens Bank's most frequently cited loan purpose was Refi, with 63 originations. The 2nd most popular reason was Home Purchase, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 28 $2,480,000 $88,571 $1,242 8.12%
    20 Year 27 $2,835,000 $105,000 $1,962 7.89%
    5 Year 25 $2,475,000 $99,000 $1,579 7.58%
    Other 21 $1,515,000 $72,143 $667 8.38%
    10 Year 17 $1,305,000 $76,765 $805 7.58%
    3 Year 7 $65,000 $9,286 $0 8.97%
    1 Year 3 $905,000 $301,667 $0 5.75%
    30 Year 2 $390,000 $195,000 $2,850 5.25%

    For 2018, First Citizens Bank's most frequently cited loan duration was 15 Year, with 28 originations. The 2nd most popular length was 20 Year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 56 $2,990,000 $53,393
    $1k-2k 4 $630,000 $157,500
    $2k-3k 1 $205,000 $205,000
    $3k-4k 1 $305,000 $305,000
    $5k+ 1 $1,225,000 $1,225,000

    First Citizens Bank's average total fees were $2,850, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 56 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    Over 8% 60 $2,630,000 $43,833
    6-7% 24 $1,480,000 $61,667
    7-8% 24 $1,300,000 $54,167
    5-6% 19 $5,085,000 $267,632
    4-5% 3 $1,475,000 $491,667

    During 2018, First Citizens Bank's average interest rate for loans was 5.25%, while their most frequently originated rate bucket for loans was Over 8%, with 60 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 106 $4,350,000 $41,038 $1,147 8.20%
    $100k-200k 11 $1,605,000 $145,909 $2,278 6.92%
    $200k-400k 7 $1,965,000 $280,714 $2,809 6.54%
    $400k-600k 4 $2,080,000 $520,000 $0 5.85%
    $1MM+ 1 $1,225,000 $1,225,000 $8,065 4.50%
    $600k-1MM 1 $745,000 $745,000 $0 5.75%

    2018 saw First Citizens Bank place emphasis on $100,000 or less loans with 106 originations, totaling $4,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 42 $1,610,000 $38,333 $1,315 8.71%
    $50k-75k 25 $1,115,000 $44,600 $1,088 7.96%
    $100k-150k 19 $1,575,000 $82,895 $1,536 7.65%
    $75k-100k 19 $1,765,000 $92,895 $1,140 7.61%
    $150k-250k 5 $645,000 $129,000 $2,726 7.19%
    $250k+ 3 $1,575,000 $525,000 $8,065 5.42%

    First Citizens Bank lent most frequently to those with incomes in the $50k or less range, with 42 originations. The second most popular income band? $50k-75k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 32 $2,080,000 $65,000 $1,293 8.05%
    <20% 30 $2,660,000 $88,667 $1,706 8.12%
    30-36% 22 $1,180,000 $53,636 $1,291 8.01%
    50-60% 6 $270,000 $45,000 $1,944 8.93%
    41% 4 $430,000 $107,500 $2,313 8.11%
    36% 3 $195,000 $65,000 $2,380 7.88%
    48% 2 $70,000 $35,000 $1,226 8.34%
    47% 2 $110,000 $55,000 $204 7.71%
    45% 2 $320,000 $160,000 $450 7.09%
    49% 1 $15,000 $15,000 $438 9.68%
    >60% 1 $125,000 $125,000 $800 8.31%
    37% 1 $35,000 $35,000 $1,053 6.73%
    38% 1 $205,000 $205,000 $0 6.00%
    39% 1 $95,000 $95,000 $0 8.39%
    40% 1 $25,000 $25,000 $0 7.00%
    42% 1 $75,000 $75,000 $0 6.50%
    43% 1 $45,000 $45,000 $0 9.48%
    44% 1 $205,000 $205,000 $4,082 8.21%
    46% 1 $65,000 $65,000 $1,091 6.95%

    First Citizens Bank lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? <20%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $7,445,000 $78,368 $1,492 7.91%
    Not applicable 10 $3,010,000 $301,000 $0 6.69%
    Black 24 $1,450,000 $60,417 $1,212 8.36%
    Asian 1 $65,000 $65,000 $0 5.75%

    Approval Rates

    Total approvals of all applications
    87.10%

    First Citizens Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.15%

    First Citizens 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
    125.0 4 $60,000 $15,000
    142.0 19 $315,000 $16,579
    167.0 1 $85,000 $85,000
    192.0 2 $150,000 $75,000
    NA 104 $11,360,000 $109,231

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $85,000 $85,000
    Multifamily:Site-Built 6 $1,890,000 $315,000
    Single Family (1-4 Units):Manufactured 48 $2,060,000 $42,917
    Single Family (1-4 Units):Site-Built 75 $7,935,000 $105,800

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 12 $230,000 $19,167 $578 8.59%
    40-60% 14 $790,000 $56,429 $1,139 8.11%
    60-80% 35 $2,315,000 $66,143 $1,157 7.95%
    80-100% 58 $7,730,000 $133,276 $2,095 7.65%
    Over 100% 8 $850,000 $106,250 $1,495 7.93%
    Under 20% 3 $55,000 $18,333 $697 7.67%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.7%
    FIRST CITIZENS BANCSHARES, INC. Other type of mortgage Struggling to pay mortgage 1 7.7%
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Trouble during payment process 4 30.8%
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Struggling to pay mortgage 2 15.4%
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Incorrect information on your report 1 7.7%
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.7%
    FIRST CITIZENS BANCSHARES, INC. Conventional home mortgage Trouble during payment process 2 15.4%
    FIRST CITIZENS BANCSHARES, INC. Conventional home mortgage Struggling to pay mortgage 1 7.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Citizens Bank 100 West Third Street Luverne, AL 36049 Full Service B&M $94,936
    First Citizens Bank 115 West Old Fort Rd Fort Deposit, AL 36032 Full Service B&M $10,716
    First Citizens Bank 17823 Montgomery Hwy Highland Home, AL 36041 Full Service B&M $13,985
    First Citizens Bank 40 Lafayette Street East Hayneville, AL 36040 Full Service B&M $41,108
    First Citizens Bank 475 Greenville Bypass Greenville, AL 36037 Full Service B&M $39,348

    For 2018, First Citizens Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,138
    Net interest income $9,835
    Total noninterest income $1,920
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $789
    Trading account gains and fees $0
    Additional Noninterest Income $1,131
    Pre-tax net operating income $3,461
    Securities gains (or losses, -) $24
    Income before extraordinary items $2,906
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,906
    Minority interest net income $0
    Net income $2,906
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,886

    First Citizens Bank's gross interest income from loans was $11,138,000.
    First Citizens Bank's net interest income from loans was $9,835,000.
    First Citizens Bank's fee based income from loans was $789,000.
    First Citizens Bank's net income from loans was $2,906,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,303
    Provision for credit losses $600
    Total noninterest expense $7,694
    Salaries and employee benefits $3,832
    Premises and equipment expense $613
    Additional noninterest expense $3,249
    Applicable income taxes $579
    Net charge-offs $210
    Cash dividends $725

    First Citizens Bank's interest expense for loans was $1,303,000.
    First Citizens Bank's payroll and benefits expense were $3,832,000.
    First Citizens Bank's property, plant and equipment expenses $613,000.

    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 0.2%
    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 $199,767
    Deposits held in domestic offices $199,767
    Deposits by Individuals, partnerships, and corporations $148,898
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $50,869
    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 $88,831
    Demand deposits $49,176
    Nontransaction accounts $110,936
    Money market deposit accounts (MMDAs) $22,993
    Other savings deposits (excluding MMDAs) $20,378
    Total time deposits $67,566
    Total time and savings deposits $150,591
    Noninterest-bearing deposits $49,201
    Interest-bearing deposits $150,566
    Retail deposits $184,356
    IRAs and Keogh plan accounts $8,463
    Brokered deposits $2,499
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $243,458
    Cash & Balances due from depository institutions $6,191
    Interest-bearing balances $521
    Total securities $68,179
    Federal funds sold & reverse repurchase $6,881
    Net loans and leases $146,334
    Loan and leases loss allowance $2,615
    Trading account assets $0
    Bank premises and fixed assets $4,415
    Other real estate owned $170
    Goodwill and other intangibles $646
    All other assets $10,642

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $243,458
    Total Liabilities $211,721
    Total deposits $199,767
    Interest-bearing deposits $150,566
    Deposits held in domestic offices $199,767
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $3,875
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $3,079

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $146,334
    Loan and leases loss allowance $2,615
    Total loans and leases (domestic) $148,949
    All real estate loans $100,135
    Real estate loans in domestic offices $100,135
    Construction and development loans $8,194
    Residential 1-4 family construction $3,184
    Other construction, all land development and other land $5,010
    Loans secured by nonfarm nonresidential properties $41,571
    Nonfarm nonresidential secured by owner-occupied properties $25,726
    Commercial real estate & other non-farm, non-residential $15,845
    Multifamily residential real estate $5,750
    1-4 family residential loans $34,931
    Farmland loans $9,689
    Loans held in foreign offices $0
    Farm loans $7,669
    Commercial and industrial loans $26,749
    To non-U.S. addressees $0
    Loans to individuals $12,820
    Credit card loans $1,197
    Related Plans $0
    Consumer Auto Loans $2,889
    Other loans to individuals $8,734
    All other loans & leases $1,577
    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 $275
    Non 1-4 family restructured loans & leases $40
    Total loans and leases (foreign) $0

    First Citizens Bank had $146,334,000 of loans outstanding in 2018. $100,135,000 of loans were in real estate loans. $8,194,000 of loans were in development loans. $5,750,000 of loans were in multifamily mortgage loans. $34,931,000 of loans were in 1-4 family mortgage loans. $7,669,000 of loans were in farm loans. $1,197,000 of loans were in credit card loans. $2,889,000 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 126 $24,209 $192,135
    Nonfarm, nonresidential loans - <$100k 48 $1,777 $37,021
    Nonfarm, nonresidential loans - $100-250k 38 $4,987 $131,237
    Nonfarm, nonresidential loans - $250k-1MM 40 $17,445 $436,125
    Commercial & Industrial, US addressed loans - <$1MM 322 $17,913 $55,630
    Commercial & Industrial, US addressed loans - <$100k 261 $5,653 $21,659
    Commercial & Industrial, US addressed loans - $100-250k 32 $3,192 $99,750
    Commercial & Industrial, US addressed loans - $250k-1MM 29 $9,068 $312,690
    Farmland loans - <$1MM 144 $6,022 $41,819
    Farmland loans - <$100k 125 $3,785 $30,280
    Farmland loans - $100-250k 19 $2,237 $117,737
    Agriculture operations loans - <$1MM 185 $5,491 $29,681
    Agriculture operations loans - <$100k 172 $3,526 $20,500
    Agriculture operations loans - $100-250k 7 $744 $106,286
    Agriculture operations loans - $250k-1MM 6 $1,221 $203,500