Reliance Savings Bank Mortgage Rates, Fees & Info

Altoona, PA

LEI: 25490073NY7HKXVMGG76

Tax ID: 23-1012663

5 stars - out of 5 stars, based on 27 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Reliance Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Reliance Savings Bank has a high proportion of conventional loans. Their top markets include Altoona, State College, Johnstown, Dubois, and Huntingdon among others. Reliance Savings Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Reliance Savings Bank is typically an average fee lendor.


Originations

731

Origination Dollar Volume (All Markets)

$149,825,000

Employee count

96

Awards

Reliance Savings Bank 30 Year Conventional Loans gold Reliance Savings Bank 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Reliance Savings Bank's average 30 year fixed rate mortgage of loans were 2.94%.

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

This yields a difference of -0.21%.

Relative Fees

Reliance Savings Bank's average total fees for a 30 year fixed rate mortgage are $4,199.

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
ALTOONA, PA (FHA|USDA|VA) 393 $65,045,000 $165,509 $2,875 2.93%
STATE COLLEGE, PA (FHA|USDA|VA) 208 $55,590,000 $267,260 $3,590 2.89%
JOHNSTOWN, PA (FHA|USDA|VA) 27 $7,175,000 $265,741 $3,717 2.99%
Outside of Metro Areas 32 $6,210,000 $194,063 $3,166 3.07%
DuBois, PA (FHA|USDA|VA) 22 $4,870,000 $221,364 $3,420 3.30%
Huntingdon, PA (FHA|USDA|VA) 25 $4,375,000 $175,000 $3,347 3.03%
PITTSBURGH, PA (FHA|USDA|VA) 6 $2,330,000 $388,333 $4,882 3.75%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $930,000 $232,500 $4,108 2.59%
Lock Haven, PA (FHA|USDA|VA) 4 $720,000 $180,000 $4,427 2.63%
SAVANNAH, GA (FHA|USDA|VA) 1 $605,000 $605,000 $0 3.65%
St. Marys, PA (FHA|USDA|VA) 1 $455,000 $455,000 $8,327 2.88%
Lewisburg, PA (FHA|USDA|VA) 1 $415,000 $415,000 $713 3.25%
Somerset, PA (FHA|USDA|VA) 3 $415,000 $138,333 $3,423 2.79%
LANCASTER, PA (FHA|USDA|VA) 1 $285,000 $285,000 $6,161 2.88%
Lewistown, PA (FHA|USDA|VA) 2 $250,000 $125,000 $2,015 3.18%
Indiana, PA (FHA|USDA|VA) 1 $155,000 $155,000 $3,943 2.13%

Reliance Savings Bank's top markets include Altoona, State College, Johnstown, Dubois, and Huntingdon among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 731 $149,825,000 $204,959 $3,201 2.95%

For the 2021 period, Reliance Savings Bank's most frequently originated loan type of loans were Conventional, with 731 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 289 $64,715,000 $223,927 $2,847 2.80%
Home Purchase 234 $54,170,000 $231,496 $3,932 3.26%
Cash Out Refi 115 $24,525,000 $213,261 $4,757 2.47%
Home Improvement 63 $3,915,000 $62,143 $596 3.20%
Other 30 $2,500,000 $83,333 $855 3.12%

For the 2021, Reliance Savings Bank's most frequently cited loan purpose of loans were Refi, with 289 originations. The 2nd most popular reason of loans were Home Purchase, with 234 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 233 $51,265,000 $220,021 $4,199 2.94%
15 Year 222 $35,900,000 $161,712 $2,957 2.52%
20 Year 106 $19,410,000 $183,113 $2,677 3.29%
10 Year 93 $11,885,000 $127,796 $675 3.01%
30+ year 51 $17,605,000 $345,196 $4,786 3.99%
Other 15 $4,605,000 $307,000 $4,864 2.85%
5 Year 8 $5,130,000 $641,250 $326 3.05%
3 Year 3 $4,025,000 $1,341,667 $284 2.91%

For the 2021, Reliance Savings Bank's most frequently cited loan length of loans were 30 Year, with 233 originations. The 2nd most popular length of loans were 15 Year, with 222 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 354 $49,360,000 $139,435
$1k-2k 189 $43,235,000 $228,757
$2k-3k 73 $17,145,000 $234,863
$3k-4k 51 $12,925,000 $253,431
$5k+ 12 $3,770,000 $314,167

$4,199 of loans were Reliance Savings Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 354 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 325 $55,535,000 $170,877
<2.5% 196 $36,300,000 $185,204
3-4% 182 $54,240,000 $298,022
4-5% 27 $3,445,000 $127,593
5-6% 1 $305,000 $305,000

During 2021, Reliance Savings Bank's average interest rate of loans were 2.94%, while their most frequently originated rate bucket of loans were 2.5-3%, with 325 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 241 $35,115,000 $145,705 $3,153 2.80%
$100,000 or less 224 $12,450,000 $55,580 $1,273 3.04%
$200k-400k 203 $56,115,000 $276,429 $4,659 2.95%
$400k-600k 49 $23,135,000 $472,143 $5,300 3.03%
$600k-1MM 8 $5,910,000 $738,750 $6,283 3.48%
$1MM+ 6 $17,100,000 $2,850,000 $10,596 3.69%

2021 saw Reliance Savings Bank place emphasis on $100k-200k loans with 241 originations, totaling $35,115,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 151 $31,665,000 $209,702 $3,568 2.93%
$50k-75k 134 $18,480,000 $137,910 $2,870 2.80%
$75k-100k 132 $21,590,000 $163,561 $3,126 2.91%
$50k or less 125 $11,335,000 $90,680 $2,205 2.97%
$150k-250k 106 $28,040,000 $264,528 $4,202 2.84%
$250k+ 39 $15,605,000 $400,128 $4,006 2.99%

Reliance Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 151 originations. The second most popular income band? $50k-75k, with 134 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 226 $41,220,000 $182,389 $3,186 2.78%
30-36% 140 $20,410,000 $145,786 $2,796 2.89%
<20% 88 $16,940,000 $192,500 $3,226 2.66%
37% 22 $3,240,000 $147,273 $3,090 2.90%
42% 21 $3,815,000 $181,667 $3,450 2.95%
50-60% 21 $5,065,000 $241,190 $2,894 3.55%
36% 19 $3,875,000 $203,947 $3,580 3.12%
39% 19 $4,355,000 $229,211 $4,062 2.91%
43% 19 $4,745,000 $249,737 $3,916 3.07%
38% 18 $3,360,000 $186,667 $2,945 2.86%
45% 18 $4,970,000 $276,111 $4,277 2.94%
40% 17 $2,565,000 $150,882 $2,436 2.89%
41% 14 $3,080,000 $220,000 $4,258 2.99%
44% 11 $2,605,000 $236,818 $3,900 3.10%
49% 10 $2,320,000 $232,000 $3,313 3.39%
48% 7 $1,155,000 $165,000 $3,197 2.70%
46% 7 $1,135,000 $162,143 $3,577 2.95%
47% 5 $1,135,000 $227,000 $2,879 2.82%
>60% 5 $1,315,000 $263,000 $2,470 3.40%

Reliance Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 226 originations. The next most common DTI ratio? 30-36%, with 140 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 670 $121,340,000 $181,104 $3,179 2.90%
Not applicable 33 $21,175,000 $641,667 $0 4.03%
Not provided 16 $3,650,000 $228,125 $3,549 2.69%
Asian 8 $2,680,000 $335,000 $4,065 3.05%
Black 3 $775,000 $258,333 $3,913 3.08%
Asian Indian 1 $205,000 $205,000 $4,486 2.50%

Approval Rates

Total approvals of all applications
89.95%

Reliance Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
89.22%

Reliance Savings Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 731 $149,825,000 $204,959

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
731 $149,825,000 $204,959

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 69 $6,755,000 $97,899 $1,150 3.02%
40-60% 133 $22,385,000 $168,308 $2,900 2.65%
60-80% 274 $69,000,000 $251,825 $4,175 2.86%
80-100% 183 $43,565,000 $238,060 $3,953 3.19%
Over 100% 1 $1,595,000 $1,595,000 $10,596 3.75%
Under 20% 71 $6,525,000 $91,901 $358 3.10%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
RELIANCE FIRST CAPITAL LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 75.0%
RELIANCE FIRST CAPITAL LLC Conventional home mortgage Trouble during payment process 1 25.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Reliance Savings Bank 100 Hawbaker Industrial Drive State College, PA 16803 Full Service B&M $115,625
Reliance Savings Bank 1119 Twelfth Street Altoona, PA 16601 Full Service Cyber Office $5,926
Reliance Savings Bank 1119 Twelfth Street Altoona, PA 16601 Full Service B&M $41,754
Reliance Savings Bank 1254 Plank Rd Duncansville, PA 16635 Full Service B&M $46,267
Reliance Savings Bank 1921 Pleasant Valley Boulevard Altoona, PA 16602 Full Service B&M $81,341
Reliance Savings Bank 226 W Plank Road Altoona, PA 16602 Full Service B&M $83,237
Reliance Savings Bank 3918 Cove Mountain Road Martinsburg, PA 16662 Full Service B&M $5,780
Reliance Savings Bank 401 S. Logan Blvd Altoona, PA 16602 Full Service B&M $53,273
Reliance Savings Bank 916 Pennsylvania Ave Tyrone, PA 16686 Full Service B&M $85,228

For 2021, Reliance Savings Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $19,427
Net interest income $16,590
Total noninterest income $6,029
Gross Fiduciary activities income $0
Service charges on deposit accounts $488
Trading account gains and fees $0
Additional Noninterest Income $5,541
Pre-tax net operating income $7,376
Securities gains (or losses, -) $-1
Income before extraordinary items $5,796
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $5,796
Minority interest net income $0
Net income $5,796
Sale, conversion, retirement of capital stock, net $0
Net operating income $5,796

Reliance Savings Bank's gross interest income from loans was $19,427,000.
Reliance Savings Bank's net interest income from loans was $16,590,000.
Reliance Savings Bank's fee based income from loans was $488,000.
Reliance Savings Bank's net income from loans was $5,796,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,837
Provision for credit losses $-300
Total noninterest expense $15,543
Salaries and employee benefits $8,463
Premises and equipment expense $1,306
Additional noninterest expense $5,774
Applicable income taxes $1,579
Net charge-offs $211
Cash dividends $0

Reliance Savings Bank's interest expense for loans was $2,837,000.
Reliance Savings Bank's payroll and benefits expense were $8,463,000.
Reliance Savings Bank's property, plant and equipment expenses $1,306,000.

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 1.0%
HELOC loans 0.0%
All other family 1.0%
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 $534,662
Deposits held in domestic offices $534,662
Deposits by Individuals, partnerships, and corporations $454,312
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $80,350
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 $246,811
Demand deposits $89,536
Nontransaction accounts $287,851
Money market deposit accounts (MMDAs) $127,615
Other savings deposits (excluding MMDAs) $72,071
Total time deposits $88,166
Total time and savings deposits $445,126
Noninterest-bearing deposits $93,019
Interest-bearing deposits $441,643
Retail deposits $507,644
IRAs and Keogh plan accounts $15,651
Brokered deposits $2,399
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $674,605
Cash & Balances due from depository institutions $98,728
Interest-bearing balances $86,845
Total securities $186,469
Federal funds sold & reverse repurchase $485
Net loans and leases $364,293
Loan and leases loss allowance $5,352
Trading account assets $0
Bank premises and fixed assets $4,613
Other real estate owned $300
Goodwill and other intangibles $5,173
All other assets $14,544

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $674,605
Total Liabilities $605,119
Total deposits $534,662
Interest-bearing deposits $441,643
Deposits held in domestic offices $534,662
% insured (estimated) $67
Federal funds purchased and repurchase agreements $27,204
Trading liabilities $0
Other borrowed funds $32,735
Subordinated debt $0
All other liabilities $10,518

Issued Loan Types

Type Value (in 000's)
Net loans and leases $364,293
Loan and leases loss allowance $5,352
Total loans and leases (domestic) $369,645
All real estate loans $328,246
Real estate loans in domestic offices $328,246
Construction and development loans $17,451
Residential 1-4 family construction $9,673
Other construction, all land development and other land $7,778
Loans secured by nonfarm nonresidential properties $92,563
Nonfarm nonresidential secured by owner-occupied properties $36,194
Commercial real estate & other non-farm, non-residential $56,369
Multifamily residential real estate $21,731
1-4 family residential loans $161,664
Farmland loans $34,837
Loans held in foreign offices $0
Farm loans $2,302
Commercial and industrial loans $25,020
To non-U.S. addressees $0
Loans to individuals $6,514
Credit card loans $0
Related Plans $3,549
Consumer Auto Loans $268
Other loans to individuals $2,697
All other loans & leases $7,563
Loans to foreign governments and official institutions $0
Other loans $128
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $300
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $9,240
Non 1-4 family restructured loans & leases $9,088
Total loans and leases (foreign) $0

Reliance Savings Bank had $364,293,000 of loans outstanding in 2021. $328,246,000 of loans were in real estate loans. $17,451,000 of loans were in development loans. $21,731,000 of loans were in multifamily mortgage loans. $161,664,000 of loans were in 1-4 family mortgage loans. $2,302,000 of loans were in farm loans. $0 of loans were in credit card loans. $268,000 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 175 $32,049 $183,137
Nonfarm, nonresidential loans - <$100k 44 $1,188 $27,000
Nonfarm, nonresidential loans - $100-250k 53 $5,277 $99,566
Nonfarm, nonresidential loans - $250k-1MM 78 $25,584 $328,000
Commercial & Industrial, US addressed loans - <$1MM 355 $17,512 $49,330
Commercial & Industrial, US addressed loans - <$100k 254 $3,990 $15,709
Commercial & Industrial, US addressed loans - $100-250k 63 $4,974 $78,952
Commercial & Industrial, US addressed loans - $250k-1MM 38 $8,548 $224,947
Farmland loans - <$1MM 78 $11,882 $152,333
Farmland loans - <$100k 28 $1,041 $37,179
Farmland loans - $100-250k 26 $3,910 $150,385
Farmland loans - $250k-1MM 24 $6,931 $288,792
Agriculture operations loans - <$1MM 42 $2,014 $47,952
Agriculture operations loans - <$100k 37 $959 $25,919
Agriculture operations loans - $100-250k 2 $304 $152,000
Agriculture operations loans - $250k-1MM 3 $751 $250,333