Reliance Savings Bank Mortgage Rates, Fees & Info

Altoona, PA

LEI: 25490073NY7HKXVMGG76

Tax ID: 23-1012663

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    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 by origination volume include: Altoona, State College, Johnstown, Dubois, and Huntingdon 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 a below average pick rate when compared to similar lenders. Reliance Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.51% 4/21/24
    30 Year Conventional Refi 6.19% 4/21/24
    30 Year Cash-out Refi 6.47% 4/21/24
    15 Year Conventional Purchase 5.50% 4/21/24
    15 Year Conventional Refi 5.36% 4/21/24
    15 Year Cash-out Refi 5.36% 4/21/24
    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






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Reliance Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

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


    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

    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
    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.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Reliance Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Reliance Savings Bank
    Similarity Rank: 448
    AmeriServ Financial Bank
    Similarity Rank: 490
    Kish Bank
    Similarity Rank: 756
    First Citizens Community Bank
    Similarity Rank: 837
    Jersey Shore State Bank
    Similarity Rank: 1131
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 1216
    S&T Bank
    Similarity Rank: 1653
    First Commonwealth Bank
    Similarity Rank: 1911
    UNION HOME MORTGAGE CORP.
    Similarity Rank: 2348
    Northwest Bank
    Similarity Rank: 3264

    Product Mix

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

    For 2021, Reliance Savings Bank's most frequently originated type of loan was Conventional, with 731 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Reliance Savings Bank's most frequently cited loan purpose was Refi, with 289 originations. The 2nd most popular reason was 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 2021, Reliance Savings Bank's most frequently cited loan duration was 30 Year, with 233 originations. The 2nd most popular length was 15 Year, with 222 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 39 $9,135,000 $234,231
    $4k-5k 12 $3,790,000 $315,833
    $5k+ 12 $3,770,000 $314,167

    Reliance Savings Bank's average total fees were $4,199, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 2.94%, while their most frequently originated rate bucket for loans was 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
    92.69%

    Reliance Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.00%

    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