Revere Bank Mortgage Rates, Fees & Info

Laurel, MD

LEI: 2549006B4GBJ226J3K51

Tax ID: 20-8489814

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Revere Bank is a smaller bank specializing in Home Purchase loans. Revere Bank has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, Chambersburg, Salisbury, and Miami among others. We have data for 14 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Revere 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.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    364

    Origination Dollar Volume (All Markets)

    $124,340,000

    Employee count

    226

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 176 $79,600,000 $452,273 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 170 $37,480,000 $220,471 $0 0.00%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 2 $1,220,000 $610,000 $0 0.00%
    SALISBURY, MD-DE (FHA|USDA|VA) 3 $1,075,000 $358,333 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $855,000 $855,000 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $840,000 $420,000 $0 0.00%
    Clarksburg, WV (FHA|USDA|VA) 1 $825,000 $825,000 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $825,000 $825,000 $0 0.00%
    Easton, MD (FHA|USDA|VA) 1 $745,000 $745,000 $0 0.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 3 $265,000 $88,333 $0 0.00%
    LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    YORK-HANOVER, PA (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Revere Bank's top markets include Washington, Baltimore, Chambersburg, Salisbury, and Miami among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 364 $124,340,000 $341,593 $0 0.00%

    For 2018, Revere Bank's most frequently originated type of loan was Conventional, with 364 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 278 $96,970,000 $348,813 $0 0.00%
    Refi 64 $16,760,000 $261,875 $0 0.00%
    Home Improvement 12 $7,640,000 $636,667 $0 0.00%
    Other 5 $1,455,000 $291,000 $0 0.00%
    Cash Out Refi 5 $1,515,000 $303,000 $0 0.00%

    For 2018, Revere Bank's most frequently cited loan purpose was Home Purchase, with 278 originations. The 2nd most popular reason was Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 364 $124,340,000 $341,593 $0 0.00%

    For 2018, Revere Bank's most frequently cited loan duration was Other, with 364 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 129 $17,605,000 $136,473 $0 0.00%
    $200k-400k 79 $20,935,000 $265,000 $0 0.00%
    $100,000 or less 65 $4,605,000 $70,846 $0 0.00%
    $600k-1MM 33 $25,365,000 $768,636 $0 0.00%
    $400k-600k 32 $15,920,000 $497,500 $0 0.00%
    $1MM+ 26 $39,910,000 $1,535,000 $0 0.00%

    2018 saw Revere Bank place emphasis on $100k-200k loans with 129 originations, totaling $17,605,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 26 $19,980,000 $768,462 $0 0.00%
    $150k-250k 6 $3,030,000 $505,000 $0 0.00%
    $75k-100k 6 $1,750,000 $291,667 $0 0.00%
    $100k-150k 5 $1,605,000 $321,000 $0 0.00%
    $50k-75k 3 $865,000 $288,333 $0 0.00%
    $50k or less 3 $455,000 $151,667 $0 0.00%

    Revere Bank lent most frequently to those with incomes in the $250k+ range, with 26 originations. The second most popular income band? $150k-250k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 364 $124,340,000 $341,593 $0 0.00%

    Revere Bank lent most frequently to those with DTI ratios of Exempt%, with 364 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 315 $96,655,000 $306,841 $0 0.00%
    White 38 $21,820,000 $574,211 $0 0.00%
    Not provided 8 $3,870,000 $483,750 $0 0.00%
    Other Asian 2 $1,900,000 $950,000 $0 0.00%
    Black 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    99.21%

    Revere 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 origination
    96.43%

    Revere 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 364 $124,340,000 $341,593

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $10,900,000 $778,571
    Single Family (1-4 Units):Manufactured 1 $1,465,000 $1,465,000
    Single Family (1-4 Units):Site-Built 349 $111,975,000 $320,845

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Revere Bank 18 West Patrick Street Frederick, MD 21701 Full Service B&M $137,824
    Revere Bank 2101 Gaither Road, 6th Floor Rockville, MD 20850 Full Service B&M $413,686
    Revere Bank 319 Main Street Laurel, MD 20707 Full Service B&M $263,729
    Revere Bank 414 Hungerford Drive Rockville, MD 20850 Full Service B&M $152,349
    Revere Bank 502 Washington Avenue, Suite 103 Towson, MD 21204 Full Service B&M $122,968
    Revere Bank 6031 University Boulevard Ellicott City, MD 21043 Full Service B&M $144,252
    Revere Bank 7700 Old Georgetown Road Bethesda, MD 20814 Full Service B&M $290,059
    Revere Bank 820 West Diamond Avenue Gaithersburg, MD 20878 Full Service B&M $187,305
    Revere Bank 8529 Veteran's Highway Millersville, MD 21108 Full Service B&M $117,482
    Revere Bank 8602 Colesville Road Silver Spring, MD 20910 Full Service B&M $66,911
    Revere Bank 9707 Old Georgetown Road Bethesda, MD 20814 Full Service B&M $11,929

    For 2018, Revere Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $106,976
    Net interest income $82,846
    Total noninterest income $2,241
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $449
    Trading account gains and fees $0
    Additional Noninterest Income $1,792
    Pre-tax net operating income $37,052
    Securities gains (or losses, -) $0
    Income before extraordinary items $27,627
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $27,627
    Minority interest net income $0
    Net income $27,627
    Sale, conversion, retirement of capital stock, net $49,969
    Net operating income $27,627

    Revere Bank's gross interest income from loans was $106,976,000.
    Revere Bank's net interest income from loans was $82,846,000.
    Revere Bank's fee based income from loans was $449,000.
    Revere Bank's net income from loans was $27,627,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $24,130
    Provision for credit losses $4,089
    Total noninterest expense $43,946
    Salaries and employee benefits $29,086
    Premises and equipment expense $3,934
    Additional noninterest expense $10,926
    Applicable income taxes $9,425
    Net charge-offs $204
    Cash dividends $0

    Revere Bank's interest expense for loans was $24,130,000.
    Revere Bank's payroll and benefits expense were $29,086,000.
    Revere Bank's property, plant and equipment expenses $3,934,000.

    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 $2,088,967
    Deposits held in domestic offices $2,088,967
    Deposits by Individuals, partnerships, and corporations $1,965,040
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $109,741
    Deposits by Commercial banks and other depository institutions in U.S. $14,186
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $105,660
    Demand deposits $76,316
    Nontransaction accounts $1,983,307
    Money market deposit accounts (MMDAs) $939,295
    Other savings deposits (excluding MMDAs) $386,218
    Total time deposits $657,795
    Total time and savings deposits $2,012,651
    Noninterest-bearing deposits $368,063
    Interest-bearing deposits $1,720,904
    Retail deposits $1,758,322
    IRAs and Keogh plan accounts $23,160
    Brokered deposits $68,643
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,455,211
    Cash & Balances due from depository institutions $136,442
    Interest-bearing balances $114,429
    Total securities $187,558
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,066,094
    Loan and leases loss allowance $18,712
    Trading account assets $0
    Bank premises and fixed assets $4,283
    Other real estate owned $0
    Goodwill and other intangibles $30,292
    All other assets $30,542

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,455,211
    Total Liabilities $2,190,320
    Total deposits $2,088,967
    Interest-bearing deposits $1,720,904
    Deposits held in domestic offices $2,088,967
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $63,456
    Subordinated debt $30,715
    All other liabilities $7,182

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,066,094
    Loan and leases loss allowance $18,712
    Total loans and leases (domestic) $2,084,806
    All real estate loans $1,807,204
    Real estate loans in domestic offices $1,807,204
    Construction and development loans $251,351
    Residential 1-4 family construction $142,802
    Other construction, all land development and other land $108,549
    Loans secured by nonfarm nonresidential properties $1,020,649
    Nonfarm nonresidential secured by owner-occupied properties $291,418
    Commercial real estate & other non-farm, non-residential $729,231
    Multifamily residential real estate $82,325
    1-4 family residential loans $447,902
    Farmland loans $4,977
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $275,682
    To non-U.S. addressees $0
    Loans to individuals $510
    Credit card loans $0
    Related Plans $87
    Consumer Auto Loans $91
    Other loans to individuals $332
    All other loans & leases $1,410
    Loans to foreign governments and official institutions $0
    Other loans $7
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,601
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,018
    Non 1-4 family restructured loans & leases $262
    Total loans and leases (foreign) $0

    Revere Bank had $2,066,094,000 of loans outstanding in 2018. $1,807,204,000 of loans were in real estate loans. $251,351,000 of loans were in development loans. $82,325,000 of loans were in multifamily mortgage loans. $447,902,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $91,000 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 528 $191,723 $363,112
    Nonfarm, nonresidential loans - <$100k 44 $2,076 $47,182
    Nonfarm, nonresidential loans - $100-250k 129 $20,118 $155,953
    Nonfarm, nonresidential loans - $250k-1MM 355 $169,529 $477,546
    Commercial & Industrial, US addressed loans - <$1MM 1,021 $127,850 $125,220
    Commercial & Industrial, US addressed loans - <$100k 480 $16,090 $33,521
    Commercial & Industrial, US addressed loans - $100-250k 253 $25,637 $101,332
    Commercial & Industrial, US addressed loans - $250k-1MM 288 $86,123 $299,038
    Farmland loans - <$1MM 10 $3,215 $321,500
    Farmland loans - $100-250k 2 $447 $223,500
    Farmland loans - $250k-1MM 8 $2,768 $346,000