PlainLender

First Bank

Troy, NC

First Bank processed 2,003 mortgage applications in 2024 per HMDA data reported to the Consumer Financial Protection Bureau (CFPB), originating 1,407 loans with a 19.6% denial rate. Home Purchase was the primary loan purpose. Based in Troy, NC. The approval rate of 70.2% reflects originated loans as a share of all applications. Below you will find a breakdown by loan type, loan purpose, denial reasons, and demographic lending patterns as required by the Home Mortgage Disclosure Act.

Portfolio scale. First Bank processed 2,003 HMDA-reported mortgage applications in 2024, originating 1,407 loans and denying 393 for a denial rate of 19.6% (applicants themselves withdrew 115 files before a decision). The average loan amount was $280,976 at a 7.245% average note rate, and applicants self-reported an average income of $35,000. The lender reports under LEI 254900L67A0ZTJRS6614 from Troy, NC.

Why approval and denial rates diverge. Approval (origination) rate and denial rate do not sum to 100% — HMDA records several outcomes beyond approved-and-funded, including files that were approved but not accepted by the applicant, withdrawn, or closed for incompleteness. First Bank's 70.2% origination rate tells you how often an application turned into funded money; the 19.6% denial rate is a separate read on underwriting strictness. The most frequently cited denial reasons in this file were Debt-to-income ratio, Credit history, Collateral, which together explain the majority of rejections. Most activity concentrated in Conventional loans (1,945 applications).

How to read this page. These figures are aggregate HMDA disclosures — they describe this lender's overall 2024 book, not your individual odds. Approval and denial rates are shaped by the applicant mix a lender actually receives: credit profile, loan-to-value, debt-to-income, property type, and geography. A lower denial rate at one lender versus another does not necessarily mean easier underwriting — it often reflects borrower self-selection and loan-product specialization. This page is informational data reporting, not financial, legal, or mortgage advice. Compare multiple lenders, read your Loan Estimate carefully, and consult a licensed mortgage professional before applying. Data reflects 2024 disclosures published by the CFPB in 2025.

2,003
Applications
1,407
Originated
19.6%
Denial Rate
$280,976
Avg Loan Amount
Avg Interest Rate: 7.245% Avg Applicant Income: $35,000

Lending Activity

Type Applications Originated Denied Avg Loan
Conventional 1,945 1,371 385 $280,815
FHA 29 17 6 $287,414
VA 17 12 1 $337,353
USDA 12 7 1 $211,667

Top loan types — First Bank

Top loan types — First Bank Horizontal bar chart of the top 4 items by value (applications). Top loan types — First Bank Top 4 1. Conventional 1,945 2. FHA 29 3. VA 17 4. USDA 12 Top 5 loan types by application volume at First Bank (HMDA 2023). Source: CFPB HMDA loan/application register.

Source: CFPB Home Mortgage Disclosure Act (HMDA) loan/application register HMDA 2023 LAR — application-level mortgage data for First Bank (LEI: 254900L67A0ZTJRS6614) · 2023 HMDA reports filed annually; covers applications received during the calendar year. Approval rates exclude withdrawn / incomplete applications. Denial reasons are lender-reported.

Denial Analysis

Debt-to-income ratio
249
Credit history
92
Collateral
75
Other
36
Unverifiable information
25
Insufficient cash
14
Employment history
6
Credit application incomplete
6

Loan Purpose Breakdown

Purpose Applications Originated Avg Loan
Home Purchase 873 675 $364,920
Other 451 298 $175,865
Home Improvement 322 191 $144,379
Refinancing 279 196 $331,487
Cash-out Refinancing 78 47 $332,436

Geographic Coverage — Lending by Race

Derived race categories as reported under HMDA. Source: CFPB.

Race Applications Approval Rate Denial Rate
White 1,536 70.5% 20.0%
Black or African American 146 74.0% 15.1%
Asian 54 51.9% 40.7%
Joint 24 62.5% 33.3%
American Indian or Alaska Native 23 65.2% 17.4%
Native Hawaiian or Other Pacific Islander 2 0.0% 50.0%
2 or more minority races 1 100.0% 0.0%

Lending by Ethnicity

Hispanic/Latino is an ethnicity, not a race. Shown separately per U.S. Census Bureau standards.

Ethnicity Applications Approval Rate Denial Rate
Not Hispanic or Latino 1,688 70.3% 20.0%
Hispanic or Latino 61 57.4% 29.5%
Joint 27 74.1% 22.2%

Nearby Lenders in NC

Other HMDA-reporting lenders in NC with similar activity. Compare any two side-by-side.

TRUIST BANK

RALEIGH, NC

105,457 apps 35,865 originated 30.8% denied

WELLS FARGO BANK NA

WINSTON SALEM, NC

89,959 apps 37,240 originated 19.4% denied

State Employees' Credit Union

Raleigh, NC

46,508 apps 28,065 originated 23.7% denied

CARDINAL FINANCIAL COMPANY, LI

CHARLOTTE, NC

30,212 apps 15,327 originated 6.7% denied

First Ciitizens Bank and Trust

Raleigh, NC

23,256 apps 15,162 originated 21.0% denied
Compare First Bank vs TRUIST BANK →

Mortgage Lending Guides

Why Mortgages Get Denied
Common denial reasons and how to improve your chances
Comparing Mortgage Lenders
What to look for when choosing a mortgage lender
Getting the Best Mortgage Rate
Strategies for securing the lowest interest rate
Understanding HMDA Data
How to read and interpret mortgage disclosure data
Denial Rates by Demographics
Demographic patterns in mortgage approval and denial

Explore More Data

Bank Financial Data → Credit Union Data → Financial Advisor Lookup → Home Insurance Costs → Property Tax Data → Rent Price Data →

Frequently Asked Questions

How many mortgage applications did First Bank process?
First Bank processed 2,003 mortgage applications in the 2023 HMDA reporting year. Of these, 1,407 were originated (approved and funded), 115 were withdrawn by the applicant, and 393 were denied.
What is First Bank's mortgage approval rate?
First Bank has an approval (origination) rate of 70.2%, meaning 70.2% of all applications resulted in a funded mortgage. The denial rate is 19.6%.
What is the average loan amount at First Bank?
The average mortgage loan amount at First Bank is $280,976. The average interest rate is 7.245%. The average applicant income is $35,000.
What are the most common reasons for mortgage denial at First Bank?
The most common reasons for mortgage denial at First Bank are: Debt-to-income ratio, Credit history, Collateral. In total, 393 applications were denied out of 2,003 total applications.
What types of mortgage loans does First Bank offer?
First Bank processes Conventional, FHA, VA, USDA loans. The most common type is Conventional with 1,945 applications and an average loan amount of $280,815.
What loan purposes does First Bank serve?
First Bank serves the following loan purposes: Home Purchase (873 applications), Other (451 applications), Home Improvement (322 applications), Refinancing (279 applications), Cash-out Refinancing (78 applications). Home Purchase is the most common purpose.
Where is First Bank located?
First Bank is headquartered in Troy, NC. The lender is identified by LEI 254900L67A0ZTJRS6614 in HMDA data.
How does First Bank compare in lending across racial demographics?
First Bank reports demographic lending data under HMDA requirements. White applicants have an approval rate of 70.5% and denial rate of 20.0%; Black or African American applicants have an approval rate of 74.0% and denial rate of 15.1%; Asian applicants have an approval rate of 51.9% and denial rate of 40.7%. This data reflects derived race categories as reported by applicants.

Data Sources

Data as of 2024. Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024 Snapshot.

Data from FFIEC / CFPB HMDA 2024 Snapshot National Loan-Level Dataset. Demographic data reflects derived categories as reported by applicants. Denial rates include all application outcomes. This data is provided for informational purposes only.

Read our methodology — how this data is sourced, computed, and verified.