Carver Federal Savings Bank Mortgage Rates, Fees & Info
New York, NY
LEI: 2549007AVAXPID11FL11
Tax ID: 13-1592005
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Mortgage Data
Bank Data
Review & Overview
Carver Federal Savings Bank is a smaller bank specializing in
Refi, Cash Out Refi, and Home Purchase loans. Carver Federal Savings Bank has a high proportion of conventional loans. Their top (well, only) market is New York.
Carver Federal Savings Bank has
an above average approval rate when compared to the average across all lenders.
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Originations
10
Origination Dollar Volume (All Markets)
$21,650,000
Employee count
104
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.
Carver Federal Savings Bank's top markets include and New York among others.
Their top states include:
New York
(FHA|USDA|VA)
Product Mix
| Loan Type |
Originations |
Total Value |
Avg. Loan |
Avg. Fees |
Avg. Rate |
| Conventional |
10 |
$21,650,000 |
$2,165,000 |
$0 |
4.24% |
For 2020, Carver Federal Savings Bank's most frequently
originated type
of loan was Conventional, with 10 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Avg. Loan |
Avg. Fees |
Avg. Rate |
| Refi |
6 |
$10,990,000 |
$1,831,667 |
$0 |
4.23% |
| Cash Out Refi |
3 |
$6,215,000 |
$2,071,667 |
$0 |
4.33% |
| Home Purchase |
1 |
$4,445,000 |
$4,445,000 |
$0 |
4.00% |
For 2020, Carver Federal Savings Bank's most frequently cited loan
purpose was Refi, with 6
originations.
The 2nd most popular reason was Cash Out Refi,
with 3 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Other |
10 |
$21,650,000 |
$2,165,000 |
$0 |
4.24% |
For 2020, Carver Federal Savings Bank's most frequently cited loan
duration was Other, with 10 originations.
Interest Rates
| Loan Rate |
Originations |
Total Value |
Average Loan |
| 3-4% |
5 |
$11,695,000 |
$2,339,000 |
| 4-5% |
4 |
$6,870,000 |
$1,717,500 |
| 5-6% |
1 |
$3,085,000 |
$3,085,000 |
During 2020, Carver Federal Savings Bank's average interest
rate for loans was 0.00%, while their
most frequently originated rate bucket for loans was 3-4%,
with 5 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $1MM+ |
9 |
$20,995,000 |
$2,332,778 |
$0 |
4.24% |
| $600k-1MM |
1 |
$655,000 |
$655,000 |
$0 |
4.25% |
2020 saw Carver Federal Savings Bank place emphasis on
$1MM+ loans
with 9 originations, totaling
$20,995,000 in origination value.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Not applicable |
10 |
$21,650,000 |
$2,165,000 |
$0 |
4.24% |
Approval Rates
Total approvals of all applications
100.00%
Carver Federal Savings 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
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| NA |
10 |
$21,650,000 |
$2,165,000 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
| Multifamily:Site-Built |
5 |
$12,715,000 |
$2,543,000 |
| Single Family (1-4 Units):Site-Built |
5 |
$8,935,000 |
$1,787,000 |
LTV Distribution
| Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| 20-40% |
1 |
$655,000 |
$655,000 |
$0 |
4.25% |
| 40-60% |
2 |
$2,710,000 |
$1,355,000 |
$0 |
4.20% |
| 60-80% |
7 |
$18,285,000 |
$2,612,143 |
$0 |
4.25% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Carver Federal Savings Bank |
1009 Nostrand Avenue Brooklyn, NY 11225 |
Full Service B&M
|
$62,476 |
| Carver Federal Savings Bank |
115-02 Merrick Blvd Jamaica, NY 11434 |
Full Service B&M
|
$53,907 |
| Carver Federal Savings Bank |
1392 Fulton Street Brooklyn, NY 11216 |
Full Service B&M
|
$67,567 |
| Carver Federal Savings Bank |
142 Malcolm X Boulevard New York, NY 10026 |
Full Service B&M
|
$20,928 |
| Carver Federal Savings Bank |
4 Hanson Place Brooklyn, NY 11217 |
Full Service B&M
|
$35,928 |
| Carver Federal Savings Bank |
75 West 125th Street New York, NY 10027 |
Full Service B&M
|
$284,344 |
| Carver Federal Savings Bank |
833 Flatbush Avenue Brooklyn, NY 11226 |
Full Service B&M
|
$20,310 |
For 2020, Carver Federal Savings Bank had 7 branches.
Yearly Performance Overview
Bank Income
Carver Federal Savings Bank's gross interest income from loans was $20,633,000.
Carver Federal Savings Bank's net interest income from loans was $16,399,000.
Carver Federal Savings Bank's fee based income from loans was $1,045,000.
Carver Federal Savings Bank's net income from loans was $-4,132,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$4,234 |
| Provision for credit losses |
$-96 |
| Total noninterest expense |
$25,294 |
| Salaries and employee benefits |
$11,482 |
| Premises and equipment expense |
$6,174 |
| Additional noninterest expense |
$7,638 |
| Applicable income taxes |
$0 |
| Net charge-offs |
$-627 |
| Cash dividends |
$0 |
Carver Federal Savings Bank's interest expense for loans was $4,234,000.
Carver Federal Savings Bank's payroll and benefits expense were $11,482,000.
Carver Federal Savings Bank's property, plant and equipment expenses $6,174,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$577,533 |
| Deposits held in domestic offices |
$577,533 |
| Deposits by Individuals, partnerships, and corporations |
$499,306 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$29,918 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$48,309 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$139,828 |
| Demand deposits |
$131,215 |
| Nontransaction accounts |
$437,705 |
| Money market deposit accounts (MMDAs) |
$137,874 |
| Other savings deposits (excluding MMDAs) |
$113,079 |
| Total time deposits |
$186,752 |
| Total time and savings deposits |
$446,318 |
| Noninterest-bearing deposits |
$104,571 |
| Interest-bearing deposits |
$472,962 |
| Retail deposits |
$455,811 |
| IRAs and Keogh plan accounts |
$5,625 |
| Brokered deposits |
$73,689 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$687,169 |
| Cash & Balances due from depository institutions |
$79,545 |
| Interest-bearing balances |
$75,895 |
| Total securities |
$109,345 |
| Federal funds sold & reverse repurchase |
$0 |
| Net loans and leases |
$463,456 |
| Loan and leases loss allowance |
$5,138 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$20,714 |
| Other real estate owned |
$60 |
| Goodwill and other intangibles |
$142 |
| All other assets |
$13,907 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$687,169 |
| Total Liabilities |
$625,664 |
| Total deposits |
$577,533 |
| Interest-bearing deposits |
$472,962 |
| Deposits held in domestic offices |
$577,533 |
| % insured (estimated) |
$77 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$28,361 |
| Subordinated debt |
$0 |
| All other liabilities |
$19,770 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$463,456 |
| Loan and leases loss allowance |
$5,138 |
| Total loans and leases (domestic) |
$468,594 |
| All real estate loans |
$418,737 |
| Real estate loans in domestic offices |
$418,737 |
| Construction and development loans |
$0 |
| Residential 1-4 family construction |
$0 |
| Other construction, all land development and other land |
$0 |
| Loans secured by nonfarm nonresidential properties |
$226,487 |
| Nonfarm nonresidential secured by owner-occupied properties |
$79,633 |
| Commercial real estate & other non-farm, non-residential |
$146,854 |
| Multifamily residential real estate |
$87,096 |
| 1-4 family residential loans |
$105,154 |
| Farmland loans |
$0 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$0 |
| Commercial and industrial loans |
$42,121 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$2,716 |
| Credit card loans |
$0 |
| Related Plans |
$0 |
| Consumer Auto Loans |
$0 |
| Other loans to individuals |
$2,716 |
| All other loans & leases |
$5,020 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$5,020 |
| Loans to depository institutions and acceptances of other banks |
$0 |
| Loans not secured by real estate |
$5,000 |
| Loans secured by real estate to non-U.S. addressees |
$0 |
| Restructured Loans & leases |
$5,816 |
| Non 1-4 family restructured loans & leases |
$5,518 |
| Total loans and leases (foreign) |
$0 |
Carver Federal Savings Bank had $463,456,000 of loans outstanding in 2020. $418,737,000 of loans were in real estate loans.
$0 of loans were in development loans. $87,096,000 of loans were in multifamily mortgage loans.
$105,154,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $0 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 |
81 |
$35,269 |
$435,420 |
| Nonfarm, nonresidential loans - <$100k |
1 |
$41 |
$41,000 |
| Nonfarm, nonresidential loans - $100-250k |
11 |
$1,746 |
$158,727 |
| Nonfarm, nonresidential loans - $250k-1MM |
69 |
$33,482 |
$485,246 |
| Commercial & Industrial, US addressed loans - <$1MM |
242 |
$17,353 |
$71,707 |
| Commercial & Industrial, US addressed loans - <$100k |
179 |
$4,182 |
$23,363 |
| Commercial & Industrial, US addressed loans - $100-250k |
34 |
$4,344 |
$127,765 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
29 |
$8,827 |
$304,379 |