First National Bank Of Omaha

OMAHA, NE 68197

LEI: LDVFX8JEECFFE8HRWA73

Tax ID: 47-0259043

2019 Data | 2018 Data


Overview

First National Bank Of Omaha is a small mortgage company specializing in Home Purchase and Refi loans. First National Bank Of Omaha has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Omaha, Fort Collins, Kansas City, Minneapolis, and Dallas among others. They have an average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. First National Bank Of Omaha is typically a low fee lendor.


Originations

10,860

Origination Dollar Volume (All Markets)

$2,353,080,000

Product Mix

Loan Type Originations Total Value Average Loan
Conventional 9,713 $2,128,745,000 $219,165
FHA 636 $113,920,000 $179,119
VA 402 $96,530,000 $240,124
USDA 109 $13,885,000 $127,385

Conventional loans are assumed to be 20% downpayment and either fixed/adjustable rate. FHA loans start at 3.5% downpayment and are targeted towards first time homebuyers who will be owner-occupants. USDA loans target agrarian uses such as farms. VA loans are available to members of the military. FHA, USDA and VA loans are typically subsidized by the government so as to have more favorable terms for the borrower.

Loan Reason

Loan Reason Originations Total Value Average Loan
Home Purchase 4,904 $1,442,490,000 $294,146
Home Improvement 1,219 $88,905,000 $72,933
Other 971 $72,795,000 $74,969
Refi 2,783 $535,665,000 $192,478
Cash Out Refi 983 $213,225,000 $216,913

Home purchase and refinance loans are typically offered by even the most prudent banks. Cash out refi loans typically carry higher fees-- they allow homeowners to get loans against the equity (appreciated value) of their home, but can be used irresponsibly. Lendors with a high ratio of cash out refi loans may be exposed in the event of an economic downturn, and may be more aggressive with their fee schedules.

Top Markets

Market Originations Total Value Average Loan
OMAHA-COUNCIL BLUFFS, NE-IA 4,419 $746,945,000 $169,030
FORT COLLINS, CO 1,129 $263,985,000 $233,822
Outside of Metro Areas 1,550 $220,610,000 $142,329
KANSAS CITY, MO-KS 929 $193,665,000 $208,466
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI 9 $143,675,000 $15,963,889
DALLAS-PLANO-IRVING, TX 103 $104,845,000 $1,017,913
ELGIN, IL 655 $101,345,000 $154,725
GREELEY, CO 495 $95,265,000 $192,455
LINCOLN, NE 405 $80,275,000 $198,210
DENVER-AURORA-LAKEWOOD, CO 228 $73,260,000 $321,316
BOULDER, CO 194 $54,370,000 $280,258
CHICAGO-NAPERVILLE-EVANSTON, IL 273 $40,065,000 $146,758
AUSTIN-ROUND ROCK-GEORGETOWN, TX 6 $38,530,000 $6,421,667
COLUMBIA, SC 1 $34,305,000 $34,305,000
DES MOINES-WEST DES MOINES, IA 10 $33,640,000 $3,364,000
WICHITA, KS 7 $32,855,000 $4,693,571
GRAND ISLAND, NE 148 $18,040,000 $121,892
ROCKFORD, IL 89 $17,105,000 $192,191
PHOENIX-MESA-CHANDLER, AZ 15 $9,575,000 $638,333
FORT WORTH-ARLINGTON-GRAPEVINE, TX 10 $3,980,000 $398,000
RAPID CITY, SD 2 $3,590,000 $1,795,000
COLORADO SPRINGS, CO 11 $3,475,000 $315,909
HOUSTON-THE WOODLANDS-SUGAR LAND, TX 7 $2,885,000 $412,143
TOPEKA, KS 5 $1,935,000 $387,000
LAWRENCE, KS 8 $1,620,000 $202,500
SIOUX FALLS, SD 11 $1,615,000 $146,818
CHEYENNE, WY 8 $1,570,000 $196,250
LAKE COUNTY-KENOSHA COUNTY, IL-WI 12 $1,560,000 $130,000
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA 4 $1,410,000 $352,500
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 2 $1,350,000 $675,000
LOS ANGELES-LONG BEACH-GLENDALE, CA 3 $1,305,000 $435,000
ST. LOUIS, MO-IL 4 $1,060,000 $265,000
TAMPA-ST. PETERSBURG-CLEARWATER, FL 4 $920,000 $230,000
NEW BRUNSWICK-LAKEWOOD, NJ 3 $795,000 $265,000
LAS VEGAS-HENDERSON-PARADISE, NV 2 $710,000 $355,000
BALTIMORE-COLUMBIA-TOWSON, MD 3 $695,000 $231,667
MANHATTAN, KS 3 $695,000 $231,667
SIOUX CITY, IA-NE-SD 2 $680,000 $340,000
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 2 $660,000 $330,000
TACOMA-LAKEWOOD, WA 2 $600,000 $300,000
TRENTON-PRINCETON, NJ 2 $600,000 $300,000
PUEBLO, CO 3 $575,000 $191,667
FRESNO, CA 2 $520,000 $260,000
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 2 $510,000 $255,000
CINCINNATI, OH-KY-IN 2 $510,000 $255,000
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 2 $490,000 $245,000
YAKIMA, WA 2 $470,000 $235,000
SANTA MARIA-SANTA BARBARA, CA 1 $415,000 $415,000
JOPLIN, MO 3 $415,000 $138,333
COLLEGE STATION-BRYAN, TX 1 $405,000 $405,000
OAKLAND-BERKELEY-LIVERMORE, CA 1 $405,000 $405,000
NEWARK, NJ-PA 1 $395,000 $395,000
ST. JOSEPH, MO-KS 3 $395,000 $131,667
SEATTLE-BELLEVUE-KENT, WA 1 $385,000 $385,000
CAMDEN, NJ 1 $355,000 $355,000
CAPE CORAL-FORT MYERS, FL 1 $345,000 $345,000
SPRINGFIELD, MO 1 $325,000 $325,000
CHATTANOOGA, TN-GA 1 $305,000 $305,000
PENSACOLA-FERRY PASS-BRENT, FL 2 $300,000 $150,000
GRAND RAPIDS-KENTWOOD, MI 1 $295,000 $295,000
KILLEEN-TEMPLE, TX 1 $285,000 $285,000
SAN ANTONIO-NEW BRAUNFELS, TX 1 $275,000 $275,000
TUCSON, AZ 1 $275,000 $275,000
SPRINGFIELD, IL 1 $265,000 $265,000
PROVIDENCE-WARWICK, RI-MA 1 $255,000 $255,000
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 1 $255,000 $255,000
NILES, MI 1 $255,000 $255,000
WARREN-TROY-FARMINGTON HILLS, MI 1 $255,000 $255,000
SACRAMENTO-ROSEVILLE-FOLSOM, CA 1 $245,000 $245,000
GRAND FORKS, ND-MN 1 $245,000 $245,000
SHERMAN-DENISON, TX 1 $235,000 $235,000
NORWICH-NEW LONDON, CT 1 $235,000 $235,000
PHILADELPHIA, PA 1 $235,000 $235,000
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 1 $225,000 $225,000
MANKATO, MN 1 $225,000 $225,000
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 1 $225,000 $225,000
KANKAKEE, IL 1 $215,000 $215,000
DURHAM-CHAPEL HILL, NC 1 $215,000 $215,000
ODESSA, TX 1 $215,000 $215,000
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 2 $210,000 $105,000
SALT LAKE CITY, UT 1 $205,000 $205,000
WINSTON-SALEM, NC 1 $195,000 $195,000
EUGENE-SPRINGFIELD, OR 1 $185,000 $185,000
DULUTH, MN-WI 1 $185,000 $185,000
KOKOMO, IN 1 $185,000 $185,000
READING, PA 1 $185,000 $185,000
TOLEDO, OH 1 $185,000 $185,000
LUBBOCK, TX 1 $175,000 $175,000
ATLANTIC CITY-HAMMONTON, NJ 1 $175,000 $175,000
AMES, IA 1 $165,000 $165,000
WACO, TX 1 $165,000 $165,000
JACKSON, MI 1 $165,000 $165,000
MILWAUKEE-WAUKESHA, WI 1 $145,000 $145,000
AUBURN-OPELIKA, AL 1 $145,000 $145,000
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 1 $145,000 $145,000
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL 1 $145,000 $145,000
PEORIA, IL 1 $135,000 $135,000
ORLANDO-KISSIMMEE-SANFORD, FL 1 $135,000 $135,000
EL PASO, TX 1 $135,000 $135,000
FORT WAYNE, IN 2 $130,000 $65,000
GRAND JUNCTION, CO 1 $125,000 $125,000
BATTLE CREEK, MI 1 $125,000 $125,000
NEW HAVEN-MILFORD, CT 1 $125,000 $125,000
SPRINGFIELD, MA 1 $115,000 $115,000
WILMINGTON, DE-MD-NJ 1 $105,000 $105,000
DAYTON-KETTERING, OH 1 $105,000 $105,000
FLINT, MI 1 $85,000 $85,000
GREENVILLE-ANDERSON, SC 1 $75,000 $75,000
PITTSBURGH, PA 1 $65,000 $65,000
CANTON-MASSILLON, OH 1 $65,000 $65,000
MCALLEN-EDINBURG-MISSION, TX 1 $55,000 $55,000
PARKERSBURG-VIENNA, WV 1 $25,000 $25,000

Lendors vary in competitiveness at the per market level-- meaning they may have better terms, deals or promotions based on the mortgaged property's location.

Interest Rate & Spreads

Loan Rate Originations Total Value Average Loan
<2.5% 622 $56,050,000 $90,113
2.5-3% 60 $15,350,000 $255,833
3-4% 4,015 $988,245,000 $246,138
4-5% 3,674 $989,170,000 $269,235
5-6% 2,221 $284,655,000 $128,165
6-7% 169 $13,035,000 $77,130
7-8% 80 $6,280,000 $78,500
Over 8% 1 $25,000 $25,000

Loan Sizing

Loan Size Originations Total Value Average Loan
$100,000 or less 3,315 $179,645,000 $54,192
$100k-200k 3,898 $574,080,000 $147,276
$200k-400k 3,005 $824,455,000 $274,361
$400k-600k 481 $222,595,000 $462,775
$600k-1000k 102 $74,650,000 $731,863
$Over $1MM 59 $477,655,000 $8,095,847

Different banks have different objectives. Some banks focus solely on high net worth individuals. Others focus on FHA loans for lower income applicants. Knowing what a bank specializes in allows better optimization given the applicant's financial situation.

LTV Distribution

Loan to Value Originations Total Value Average Loan
20-40% 1,676 $175,570,000 $104,755
40-60% 1,120 $321,710,000 $287,241
60-80% 2,568 $882,440,000 $343,629
80-100% 3,845 $862,895,000 $224,420
Over 100% 62 $15,650,000 $252,419
Under 20% 1,576 $86,830,000 $55,095

LTV, or loan-to-value, is the amount loaned relative to a home's value. Lower LTV lending implies a larger downpayment-- reducing risk to the lendor. FHA loans will nearly always have a higher LTV due to the lower downpayment requirements. Higher LTVs may also mean a bank is charging higher fees or interest rates to compensate for their risk exposure.

Applicant Income

Applicant Income Originations Total Value Average Loan
$100k-150k 2,444 $465,280,000 $190,376
$150k-250k 1,314 $313,750,000 $238,775
$50k-75k 2,284 $329,720,000 $144,361
$50k-or less 1,458 $157,320,000 $107,901
$75k-100k 1,938 $320,810,000 $165,537
$Over $250k 528 $197,710,000 $374,451

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan
White 9,067 $1,582,235,000 $174,505
Not applicable 255 $468,545,000 $1,837,431
Not provided 1,140 $225,490,000 $197,798
Asian 186 $40,550,000 $218,011
Black 154 $26,160,000 $169,870
American Indian 30 $5,060,000 $168,667
Native Hawaiian 14 $2,150,000 $153,571
Asian Indian 8 $2,030,000 $253,750
Other Asian 1 $175,000 $175,000
Chinese 1 $155,000 $155,000
Japanese 1 $155,000 $155,000
Filipino 1 $155,000 $155,000
Korean 1 $135,000 $135,000
Guamanian 1 $85,000 $85,000

Approval Rates

Total approvals of all applications
86.21%

A high approval rate means banks are more selective in who they market to or that they are loosey-goosey with who they lend to. Low approval rates may mean a lendor is more stringent in their lending standards.

Pick Rate

Approvals leading to origination
84.93%

A bank's pick rate is how often they are chosen by an applicant once approved. A high pick rate typically means the bank has some sort of advantage-- either the best terms (rates/fees), fastest closing time or even the best customer service. Banks with <75% pick rate may need further investigation as to why they are not more competitive.

Points and Fees

Points Originations Total Value Average Loan
NA 10,860 $2,353,080,000 $216,674

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 5,321 $1,082,715,000 $203,480
$1k-2k 1,496 $349,500,000 $233,623
$2k-3k 213 $60,035,000 $281,854
$3k-4k 132 $40,960,000 $310,303
$5k+ 31 $12,945,000 $417,581

Banks make money on their float/interest spread (fees charged to borrowers vs fees they pay for their capital), for servicing loans, as well as charging origination fees when a loan is disbursed. Modern low-cost efficient lendors can have fees totaling less than $500 for many mortgages-- as low as $250 in some cases. Average lendors will be in the $1k-2k range and high cost lendors will be even more. The costs incurred by the bank will be similar no matter the loan amount, so this is to be viewed as a profit center for most banks.

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Multifamily:Manufactured 1 $1,055,000 $1,055,000
Multifamily:Site-Built 96 $449,340,000 $4,680,625
Single Family (1-4 Units):Manufactured 16 $1,500,000 $93,750
Single Family (1-4 Units):Site-Built 10,747 $1,901,185,000 $176,904