The First National Bank Of Long Island Mortgage Rates, Fees & Info

Glen Head, NY

LEI: WO4YNEKNSZNVVA7Q7C46

Tax ID: 11-0804410

5 stars - out of 5 stars, based on 17 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

The First National Bank Of Long Island is a smaller bank specializing in Cash Out Refi loans. The First National Bank Of Long Island has a high proportion of conventional loans. Their top markets include New York, Atlantic City, Bridgeport, and Trenton among others. The First National Bank Of Long Island has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. The First National Bank Of Long Island is typically an average fee lendor.


Originations

284

Origination Dollar Volume (All Markets)

$389,350,000

Employee count

318

Awards

The First National Bank of Long Island 30 Year Conventional Loans bronze The First National Bank of Long Island 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

The First National Bank Of Long Island's average 30 year fixed rate mortgage of loans were 2.9%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.25%.

Relative Fees

The First National Bank Of Long Island's average total fees for a 30 year fixed rate mortgage are $4,912.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 279 $377,845,000 $1,354,283 $4,949 2.94%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $7,355,000 $7,355,000 $0 3.13%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 3 $2,945,000 $981,667 $4,576 3.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $5,936 2.50%

The First National Bank Of Long Island's top markets include New York, Atlantic City, Bridgeport, and Trenton among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 284 $389,350,000 $1,370,951 $4,949 2.93%

For the 2021 period, The First National Bank Of Long Island's most frequently originated loan type of loans were Conventional, with 284 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 161 $270,795,000 $1,681,957 $5,025 2.94%
Home Purchase 73 $71,965,000 $985,822 $4,556 2.94%
Refi 50 $46,590,000 $931,800 $5,380 2.92%

For the 2021, The First National Bank Of Long Island's most frequently cited loan purpose of loans were Cash Out Refi, with 161 originations. The 2nd most popular reason of loans were Home Purchase, with 73 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 203 $162,255,000 $799,286 $4,912 2.90%
10 Year 52 $190,420,000 $3,661,923 $9,991 3.13%
20 Year 18 $8,350,000 $463,889 $4,642 2.79%
15 Year 7 $5,105,000 $729,286 $5,346 2.68%
5 Year 2 $9,260,000 $4,630,000 $0 3.19%
Other 2 $13,960,000 $6,980,000 $0 3.50%

For the 2021, The First National Bank Of Long Island's most frequently cited loan length of loans were 30 Year, with 203 originations. The 2nd most popular length of loans were 10 Year, with 52 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 182 $142,240,000 $781,538
$1k-2k 47 $35,495,000 $755,213

$4,912 of loans were The First National Bank Of Long Island's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 182 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 223 $267,675,000 $1,200,336
3-4% 45 $106,315,000 $2,362,556
<2.5% 16 $15,360,000 $960,000

During 2021, The First National Bank Of Long Island's average interest rate of loans were 2.90%, while their most frequently originated rate bucket of loans were 2.5-3%, with 223 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 104 $280,670,000 $2,698,750 $6,187 3.02%
$600k-1MM 96 $75,440,000 $785,833 $4,948 2.88%
$400k-600k 46 $23,360,000 $507,826 $4,649 2.88%
$200k-400k 27 $8,065,000 $298,704 $3,676 2.90%
$100k-200k 11 $1,815,000 $165,000 $3,360 2.89%

2021 saw The First National Bank Of Long Island place emphasis on $1MM+ loans with 104 originations, totaling $280,670,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 132 $126,060,000 $955,000 $5,425 2.87%
$150k-250k 66 $41,280,000 $625,455 $4,512 2.89%
$100k-150k 24 $8,440,000 $351,667 $4,037 2.88%
$50k-75k 4 $850,000 $212,500 $3,141 2.88%
$75k-100k 3 $1,105,000 $368,333 $3,282 2.88%

The First National Bank Of Long Island lent most frequently to those with incomes in the $250k+ range, with 132 originations. The second most popular income band? $150k-250k, with 66 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 87 $68,775,000 $790,517 $5,127 2.87%
30-36% 38 $29,760,000 $783,158 $5,142 2.89%
<20% 38 $30,580,000 $804,737 $4,825 2.88%
41% 14 $9,420,000 $672,857 $4,606 2.94%
40% 11 $7,835,000 $712,273 $4,650 2.92%
37% 11 $7,005,000 $636,818 $4,326 2.89%
38% 10 $7,640,000 $764,000 $4,702 2.92%
39% 9 $8,035,000 $892,778 $5,481 2.85%
36% 9 $7,015,000 $779,444 $4,241 2.78%
44% 1 $555,000 $555,000 $5,532 2.88%
>60% 1 $1,115,000 $1,115,000 $5,207 3.13%

The First National Bank Of Long Island lent most frequently to those with DTI ratios of 20-30%, with 87 originations. The next most common DTI ratio? 30-36%, with 38 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 55 $211,615,000 $3,847,545 $0 3.16%
White 171 $132,735,000 $776,228 $4,922 2.88%
Not provided 42 $32,240,000 $767,619 $5,209 2.88%
Asian 13 $9,975,000 $767,308 $4,524 2.90%
Asian Indian 3 $2,785,000 $928,333 $4,676 2.92%

Approval Rates

Total approvals of all applications
90.74%

The First National Bank Of Long Island has an average approval rate.

Pick Rate

Approvals leading to origination
83.63%

The First National Bank Of Long Island has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 284 $389,350,000 $1,370,951

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
284 $389,350,000 $1,370,951

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 24 $16,940,000 $705,833 $4,758 2.92%
40-60% 87 $116,585,000 $1,340,057 $4,897 2.87%
60-80% 149 $239,605,000 $1,608,087 $5,073 2.98%
80-100% 17 $13,415,000 $789,118 $4,800 2.91%
Under 20% 7 $2,805,000 $400,714 $4,222 2.96%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
The First National Bank of Long Island 1 East Montauk Highway Lindenhurst, NY 11757 Full Service B&M $51,839
The First National Bank of Long Island 23-88a Bell Boulevard, 24th Avenue, The Bay Terrace Shopping C. Bayside, NY 11360 Full Service B&M $15,998
The First National Bank of Long Island 232 Madison Avenue New York, NY 10016 Full Service B&M $65,153
The First National Bank of Long Island 234 Main St, Rte 25a Setauket, NY 11733 Full Service B&M $12,378
The First National Bank of Long Island 253 New York Avenue Huntington, NY 11743 Full Service B&M $207,759
The First National Bank of Long Island 254-57 Horace Harding Expressway Little Neck, NY 11362 Full Service B&M $20,199
The First National Bank of Long Island 282 Bayville Ave Bayville, NY 11709 Full Service B&M $61,041
The First National Bank of Long Island 285 Middle Country Road Smithtown, NY 11787 Full Service B&M $29,494
The First National Bank of Long Island 2933 Long Beach Road Oceanside, NY 11572 Full Service B&M $38,077
The First National Bank of Long Island 299 Sea Cliff Ave Sea Cliff, NY 11579 Full Service B&M $45,169
The First National Bank of Long Island 30 Orville Drive Bohemia, NY 11716 Full Service B&M $104,137
The First National Bank of Long Island 3000 Marcus Avenue Lake Success, NY 11020 Full Service B&M $189,480
The First National Bank of Long Island 7 Glen Cove Road Greenvale, NY 11548 Full Service B&M $55,835
The First National Bank of Long Island 711 Fort Salonga Road Northport, NY 11768 Full Service B&M $121,591
The First National Bank of Long Island 76 Broadway Greenlawn, NY 11740 Full Service B&M $23,448
The First National Bank of Long Island 800 Woodbury Road Woodbury, NY 11797 Full Service B&M $131,879
The First National Bank of Long Island 9202 4th Avenue Brooklyn, NY 11209 Full Service B&M $40,516
The First National Bank of Long Island 132-11a 14th College Point, NY 11356 Full Service B&M $32,983
The First National Bank of Long Island 140 East Main Street Riverhead, NY 11901 Full Service B&M $20,292
The First National Bank of Long Island 147 Main Street Cold Spring Harbor, NY 11724 Full Service B&M $26,849
The First National Bank of Long Island 151 West Main Street East Islip, NY 11730 Full Service B&M $40,280
The First National Bank of Long Island 159-14 Cross Bay Boulevard Howard Beach, NY 11414 Full Service B&M $25,821
The First National Bank of Long Island 1810 Merrick Avenue Merrick, NY 11566 Full Service B&M $111,196
The First National Bank of Long Island 19-01 Utopia Parkway Whitestone, NY 11357 Full Service B&M $44,055
The First National Bank of Long Island 1975 Hempstead Turnpike, Suite 103 East Meadow, NY 11554 Full Service B&M $72,907
The First National Bank of Long Island 215 West Main Street Sayville, NY 11782 Full Service B&M $36,837
The First National Bank of Long Island 227 Smith Street Brooklyn, NY 11231 Full Service B&M $8,618
The First National Bank of Long Island 23-25 31st St. Astoria, NY 11105 Full Service B&M $9,341
The First National Bank of Long Island 310 Merrick Road Rockville Centre, NY 11570 Full Service B&M $40,589
The First National Bank of Long Island 330 Motor Pkwy, Ste 100 Hauppauge, NY 11788 Full Service B&M $122,135
The First National Bank of Long Island 392 East Main Street Patchogue, NY 11772 Full Service B&M $56,050
The First National Bank of Long Island 408 Bedford Avenue Bellmore, NY 11710 Full Service B&M $48,538
The First National Bank of Long Island 42 Deer Park Avenue Babylon, NY 11702 Full Service B&M $58,030
The First National Bank of Long Island 5225 Nesconset Highway, Bldg 4, Suite 21, Davis Professional Park Port Jefferson Station, NY 11776 Full Service B&M $47,555
The First National Bank of Long Island 536 Northern Boulevard Great Neck, NY 11021 Full Service B&M $72,014
The First National Bank of Long Island 555 Broad Hollow Road Melville, NY 11747 Full Service B&M $68,637
The First National Bank of Long Island 559 86th Street Brooklyn, NY 11209 Full Service B&M $3,975
The First National Bank of Long Island 572 Plandome Rd Manhasset, NY 11030 Full Service B&M $54,611
The First National Bank of Long Island 574 Broadway Massapequa, NY 11758 Full Service B&M $77,937
The First National Bank of Long Island 10 Glen Head Road Glen Head, NY 11545 Full Service B&M $287,085
The First National Bank of Long Island 105 Main Street Northport, NY 11768 Full Service B&M $27,505
The First National Bank of Long Island 1050 Franklin Avenue Garden City, NY 11530 Full Service B&M $217,702
The First National Bank of Long Island 106 Old Country Road Hicksville, NY 11801 Full Service B&M $42,709
The First National Bank of Long Island 108 Forest Avenue Locust Valley, NY 11560 Full Service B&M $193,099
The First National Bank of Long Island 127 East Merrick Road Valley Stream, NY 11580 Full Service B&M $66,547
The First National Bank of Long Island 130 Mineola Avenue Roslyn Heights, NY 11577 Full Service B&M $202,864
The First National Bank of Long Island 1301 Broadway Hewlett, NY 11557 Full Service B&M $52,907

For 2021, The First National Bank Of Long Island had 47 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $122,959
Net interest income $106,804
Total noninterest income $11,470
Gross Fiduciary activities income $1,058
Service charges on deposit accounts $2,925
Trading account gains and fees $0
Additional Noninterest Income $7,487
Pre-tax net operating income $54,233
Securities gains (or losses, -) $1,104
Income before extraordinary items $45,208
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $45,208
Minority interest net income $7
Net income $45,201
Sale, conversion, retirement of capital stock, net $0
Net operating income $44,302

The First National Bank Of Long Island's gross interest income from loans was $122,959,000.
The First National Bank Of Long Island's net interest income from loans was $106,804,000.
The First National Bank Of Long Island's fee based income from loans was $2,925,000.
The First National Bank Of Long Island's net income from loans was $45,201,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $16,155
Provision for credit losses $-2,491
Total noninterest expense $66,532
Salaries and employee benefits $38,388
Premises and equipment expense $15,227
Additional noninterest expense $12,917
Applicable income taxes $10,129
Net charge-offs $633
Cash dividends $33,200

The First National Bank Of Long Island's interest expense for loans was $16,155,000.
The First National Bank Of Long Island's payroll and benefits expense were $38,388,000.
The First National Bank Of Long Island's property, plant and equipment expenses $15,227,000.

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 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $3,315,546
Deposits held in domestic offices $3,315,546
Deposits by Individuals, partnerships, and corporations $2,757,268
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $558,278
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 $742,134
Demand deposits $662,673
Nontransaction accounts $2,573,412
Money market deposit accounts (MMDAs) $1,136,670
Other savings deposits (excluding MMDAs) $1,207,905
Total time deposits $228,837
Total time and savings deposits $2,652,873
Noninterest-bearing deposits $1,400,999
Interest-bearing deposits $1,914,548
Retail deposits $3,263,709
IRAs and Keogh plan accounts $69,070
Brokered deposits $38
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $4,067,190
Cash & Balances due from depository institutions $42,989
Interest-bearing balances $30,455
Total securities $734,318
Federal funds sold & reverse repurchase $0
Net loans and leases $3,075,205
Loan and leases loss allowance $29,831
Trading account assets $0
Bank premises and fixed assets $45,961
Other real estate owned $0
Goodwill and other intangibles $220
All other assets $168,497

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $4,067,190
Total Liabilities $3,653,621
Total deposits $3,315,546
Interest-bearing deposits $1,914,548
Deposits held in domestic offices $3,315,546
% insured (estimated) $41
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $311,322
Subordinated debt $0
All other liabilities $26,753

Issued Loan Types

Type Value (in 000's)
Net loans and leases $3,075,205
Loan and leases loss allowance $29,831
Total loans and leases (domestic) $3,105,036
All real estate loans $2,982,709
Real estate loans in domestic offices $2,982,709
Construction and development loans $8,061
Residential 1-4 family construction $0
Other construction, all land development and other land $8,061
Loans secured by nonfarm nonresidential properties $863,928
Nonfarm nonresidential secured by owner-occupied properties $171,117
Commercial real estate & other non-farm, non-residential $692,811
Multifamily residential real estate $864,207
1-4 family residential loans $1,246,513
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $120,920
To non-U.S. addressees $0
Loans to individuals $861
Credit card loans $298
Related Plans $293
Consumer Auto Loans $4
Other loans to individuals $266
All other loans & leases $546
Loans to foreign governments and official institutions $0
Other loans $130
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 $554
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

The First National Bank of Long Island had $3,075,205,000 of loans outstanding in 2021. $2,982,709,000 of loans were in real estate loans. $8,061,000 of loans were in development loans. $864,207,000 of loans were in multifamily mortgage loans. $1,246,513,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $298,000 of loans were in credit card loans. $4,000 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 135 $63,087 $467,311
Nonfarm, nonresidential loans - $100-250k 6 $704 $117,333
Nonfarm, nonresidential loans - $250k-1MM 129 $62,383 $483,589
Commercial & Industrial, US addressed loans - <$1MM 652 $55,929 $85,781
Commercial & Industrial, US addressed loans - <$100k 373 $6,478 $17,367
Commercial & Industrial, US addressed loans - $100-250k 186 $20,241 $108,823
Commercial & Industrial, US addressed loans - $250k-1MM 93 $29,210 $314,086