Reliance Savings Bank Mortgage Rates, Fees & Info

Altoona, PA

LEI: 25490073NY7HKXVMGG76

Tax ID: 23-1012663

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Mortgage Data

Bank Data

Review & Overview

Reliance Savings Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Reliance Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: State College, Altoona, Huntingdon, Johnstown, and Pittsburgh among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)

Reliance Savings 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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.51% 3/28/24
30 Year Conventional Refi 6.19% 3/28/24
30 Year Cash-out Refi 6.47% 3/28/24
15 Year Conventional Purchase 5.50% 3/28/24
15 Year Conventional Refi 5.36% 3/28/24
15 Year Cash-out Refi 5.36% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Reliance Savings Bank Mortgage Calculator






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The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

851

Origination Dollar Volume (All Markets)

$161,115,000

Employee count

103

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
STATE COLLEGE, PA (FHA|USDA|VA) 321 $70,545,000 $219,766 $0 0.00%
ALTOONA, PA (FHA|USDA|VA) 389 $65,065,000 $167,262 $0 0.00%
Huntingdon, PA (FHA|USDA|VA) 45 $7,825,000 $173,889 $0 0.00%
Outside of Metro Areas 30 $4,810,000 $160,333 $0 0.00%
JOHNSTOWN, PA (FHA|USDA|VA) 20 $3,610,000 $180,500 $0 0.00%
PITTSBURGH, PA (FHA|USDA|VA) 8 $2,470,000 $308,750 $0 0.00%
DuBois, PA (FHA|USDA|VA) 12 $1,630,000 $135,833 $0 0.00%
Somerset, PA (FHA|USDA|VA) 6 $1,370,000 $228,333 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 5 $1,075,000 $215,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 5 $1,015,000 $203,000 $0 0.00%
Lewistown, PA (FHA|USDA|VA) 3 $535,000 $178,333 $0 0.00%
WILLIAMSPORT, PA (FHA|USDA|VA) 3 $455,000 $151,667 $0 0.00%
READING, PA (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
Indiana, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Reliance Savings Bank's top markets include State College, Altoona, Huntingdon, Johnstown, and Pittsburgh among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 851 $161,115,000 $189,324 $0 0.00%

    For 2020, Reliance Savings Bank's most frequently originated type of loan was Conventional, with 851 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 346 $68,140,000 $196,936 $0 0.00%
    Home Purchase 230 $48,740,000 $211,913 $0 0.00%
    Cash Out Refi 193 $40,265,000 $208,627 $0 0.00%
    Home Improvement 49 $2,025,000 $41,327 $0 0.00%
    Other 33 $1,945,000 $58,939 $0 0.00%

    For 2020, Reliance Savings Bank's most frequently cited loan purpose was Refi, with 346 originations. The 2nd most popular reason was Home Purchase, with 230 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 851 $161,115,000 $189,324 $0 0.00%

    For 2020, Reliance Savings Bank's most frequently cited loan duration was Other, with 851 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 307 $45,715,000 $148,909 $0 0.00%
    $200k-400k 297 $80,635,000 $271,498 $0 0.00%
    $100,000 or less 201 $11,485,000 $57,139 $0 0.00%
    $400k-600k 41 $18,975,000 $462,805 $0 0.00%
    $600k-1MM 4 $3,270,000 $817,500 $0 0.00%
    $1MM+ 1 $1,035,000 $1,035,000 $0 0.00%

    2020 saw Reliance Savings Bank place emphasis on $100k-200k loans with 307 originations, totaling $45,715,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 202 $40,900,000 $202,475 $0 0.00%
    $75k-100k 165 $29,085,000 $176,273 $0 0.00%
    $50k-75k 153 $22,345,000 $146,046 $0 0.00%
    $150k-250k 130 $33,590,000 $258,385 $0 0.00%
    $50k or less 111 $10,505,000 $94,640 $0 0.00%
    $250k+ 50 $14,670,000 $293,400 $0 0.00%

    Reliance Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 202 originations. The second most popular income band? $75k-100k, with 165 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 851 $161,115,000 $189,324 $0 0.00%

    Reliance Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 851 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 812 $152,100,000 $187,315 $0 0.00%
    Not applicable 28 $6,730,000 $240,357 $0 0.00%
    Not provided 4 $1,020,000 $255,000 $0 0.00%
    Black 4 $680,000 $170,000 $0 0.00%
    Asian 3 $585,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.49%

    Reliance Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.19%

    Reliance Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 851 $161,115,000 $189,324

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $4,045,000 $577,857
    Single Family (1-4 Units):Manufactured 21 $2,635,000 $125,476
    Single Family (1-4 Units):Site-Built 823 $154,435,000 $187,649

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    RELIANCE FIRST CAPITAL LLC Conventional home mortgage Closing on a mortgage 1 25.0%
    RELIANCE FIRST CAPITAL LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    RELIANCE FIRST CAPITAL LLC Other type of mortgage Struggling to pay mortgage 1 25.0%
    RELIANCE FIRST CAPITAL LLC VA mortgage Trouble during payment process 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Reliance Savings Bank 209 South Walnut Street Martinsburg, PA 16662 Full Service B&M $2,807
    Reliance Savings Bank 100 Hawbaker Industrial Drive State College, PA 16803 Full Service B&M $88,139
    Reliance Savings Bank 1119 Twelfth Street Altoona, PA 16601 Full Service Cyber Office $4,846
    Reliance Savings Bank 1119 Twelfth Street Altoona, PA 16601 Full Service B&M $50,376
    Reliance Savings Bank 1254 Plank Rd Duncansville, PA 16635 Full Service B&M $37,769
    Reliance Savings Bank 1921 Pleasant Valley Boulevard Altoona, PA 16602 Full Service B&M $67,708
    Reliance Savings Bank 226 W Plank Road Altoona, PA 16602 Full Service B&M $75,642
    Reliance Savings Bank 401 S. Logan Blvd Altoona, PA 16602 Full Service B&M $46,251
    Reliance Savings Bank 916 Pennsylvania Ave Tyrone, PA 16686 Full Service B&M $73,895

    For 2020, Reliance Savings Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,407
    Net interest income $15,759
    Total noninterest income $7,390
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $454
    Trading account gains and fees $0
    Additional Noninterest Income $6,936
    Pre-tax net operating income $6,107
    Securities gains (or losses, -) $473
    Income before extraordinary items $5,209
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,209
    Minority interest net income $0
    Net income $5,209
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,835

    Reliance Savings Bank's gross interest income from loans was $20,407,000.
    Reliance Savings Bank's net interest income from loans was $15,759,000.
    Reliance Savings Bank's fee based income from loans was $454,000.
    Reliance Savings Bank's net income from loans was $5,209,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,648
    Provision for credit losses $1,689
    Total noninterest expense $15,353
    Salaries and employee benefits $8,910
    Premises and equipment expense $1,153
    Additional noninterest expense $5,290
    Applicable income taxes $1,371
    Net charge-offs $100
    Cash dividends $0

    Reliance Savings Bank's interest expense for loans was $4,648,000.
    Reliance Savings Bank's payroll and benefits expense were $8,910,000.
    Reliance Savings Bank's property, plant and equipment expenses $1,153,000.

    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 $479,566
    Deposits held in domestic offices $479,566
    Deposits by Individuals, partnerships, and corporations $400,013
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $79,553
    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 $225,224
    Demand deposits $73,084
    Nontransaction accounts $254,342
    Money market deposit accounts (MMDAs) $86,092
    Other savings deposits (excluding MMDAs) $60,136
    Total time deposits $108,115
    Total time and savings deposits $406,482
    Noninterest-bearing deposits $76,609
    Interest-bearing deposits $402,957
    Retail deposits $444,058
    IRAs and Keogh plan accounts $16,835
    Brokered deposits $4,499
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $630,875
    Cash & Balances due from depository institutions $43,302
    Interest-bearing balances $29,519
    Total securities $165,359
    Federal funds sold & reverse repurchase $138
    Net loans and leases $397,137
    Loan and leases loss allowance $5,863
    Trading account assets $0
    Bank premises and fixed assets $4,734
    Other real estate owned $0
    Goodwill and other intangibles $4,951
    All other assets $15,254

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $630,875
    Total Liabilities $565,146
    Total deposits $479,566
    Interest-bearing deposits $402,957
    Deposits held in domestic offices $479,566
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $26,921
    Trading liabilities $0
    Other borrowed funds $45,016
    Subordinated debt $0
    All other liabilities $13,643

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $397,137
    Loan and leases loss allowance $5,863
    Total loans and leases (domestic) $403,000
    All real estate loans $338,570
    Real estate loans in domestic offices $338,570
    Construction and development loans $13,452
    Residential 1-4 family construction $7,296
    Other construction, all land development and other land $6,156
    Loans secured by nonfarm nonresidential properties $94,540
    Nonfarm nonresidential secured by owner-occupied properties $36,378
    Commercial real estate & other non-farm, non-residential $58,162
    Multifamily residential real estate $23,181
    1-4 family residential loans $173,026
    Farmland loans $34,371
    Loans held in foreign offices $0
    Farm loans $2,080
    Commercial and industrial loans $45,388
    To non-U.S. addressees $0
    Loans to individuals $6,953
    Credit card loans $0
    Related Plans $3,621
    Consumer Auto Loans $287
    Other loans to individuals $3,045
    All other loans & leases $10,009
    Loans to foreign governments and official institutions $0
    Other loans $85
    Loans to depository institutions and acceptances of other banks $1,500
    Loans not secured by real estate $75
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $7,149
    Non 1-4 family restructured loans & leases $7,071
    Total loans and leases (foreign) $0

    Reliance Savings Bank had $397,137,000 of loans outstanding in 2020. $338,570,000 of loans were in real estate loans. $13,452,000 of loans were in development loans. $23,181,000 of loans were in multifamily mortgage loans. $173,026,000 of loans were in 1-4 family mortgage loans. $2,080,000 of loans were in farm loans. $0 of loans were in credit card loans. $287,000 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 176 $33,300 $189,205
    Nonfarm, nonresidential loans - <$100k 46 $1,329 $28,891
    Nonfarm, nonresidential loans - $100-250k 54 $5,536 $102,519
    Nonfarm, nonresidential loans - $250k-1MM 76 $26,435 $347,829
    Commercial & Industrial, US addressed loans - <$1MM 593 $32,654 $55,066
    Commercial & Industrial, US addressed loans - <$100k 463 $9,689 $20,927
    Commercial & Industrial, US addressed loans - $100-250k 79 $7,771 $98,367
    Commercial & Industrial, US addressed loans - $250k-1MM 51 $15,194 $297,922
    Farmland loans - <$1MM 72 $11,306 $157,028
    Farmland loans - <$100k 30 $955 $31,833
    Farmland loans - $100-250k 20 $3,059 $152,950
    Farmland loans - $250k-1MM 22 $7,292 $331,455
    Agriculture operations loans - <$1MM 29 $1,713 $59,069
    Agriculture operations loans - <$100k 26 $936 $36,000
    Agriculture operations loans - $100-250k 1 $184 $184,000
    Agriculture operations loans - $250k-1MM 2 $593 $296,500