Olympia Federal Savings & Loan Association Mortgage Rates, Fees & Info
Olympia, WALEI: 2549008GIE3QVYB2FT28
Tax ID: 91-0346300
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Mortgage Data
Bank Data
Review & Overview
Olympia Federal Savings & Loan Association is a smaller mortgage company specializing in Home Purchase loans. Olympia Federal Savings & Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Olympia, Shelton, Aberdeen, Centralia, and Seattle among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)Olympia Federal Savings & Loan Association has an average approval rate when compared to the average across all lenders. They have a below 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 | 5.49% | 4/18/24 |
| 30 Year Conventional Refi | 5.95% | 4/18/24 |
| 15 Year Conventional Purchase | 6.29% | 4/18/24 |
| 15 Year Conventional Refi | 5.87% | 4/18/24 |
| 15 Year Cash-out Refi | 5.87% | 4/18/24 |
| 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. | ||
Olympia Federal Savings & Loan Association Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
411Origination Dollar Volume (All Markets)
$122,415,000Employee count
116Top 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 |
|---|---|---|---|---|---|
| OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) | 286 | $90,700,000 | $317,133 | $0 | 0.00% |
| Shelton, WA (FHA|USDA|VA) | 47 | $10,995,000 | $233,936 | $0 | 0.00% |
| Aberdeen, WA (FHA|USDA|VA) | 25 | $7,055,000 | $282,200 | $0 | 0.00% |
| Centralia, WA (FHA|USDA|VA) | 26 | $5,980,000 | $230,000 | $0 | 0.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 13 | $3,985,000 | $306,538 | $0 | 0.00% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 6 | $1,830,000 | $305,000 | $0 | 0.00% |
| Port Angeles, WA (FHA|USDA|VA) | 5 | $945,000 | $189,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $925,000 | $308,333 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Olympia Federal Savings & Loan Association based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 411 | $122,415,000 | $297,847 | $0 | 0.00% |
For 2018, Olympia Federal Savings & Loan Association's most frequently originated type of loan was Conventional, with 411 originations.
Loan Reason
For 2018, Olympia Federal Savings & Loan Association's most frequently cited loan purpose was Home Purchase, with 275 originations. The 2nd most popular reason was Refi, with 85 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 411 | $122,415,000 | $297,847 | $0 | 0.00% |
For 2018, Olympia Federal Savings & Loan Association's most frequently cited loan duration was Other, with 411 originations.
Loan Sizing
2018 saw Olympia Federal Savings & Loan Association place emphasis on $200k-400k loans with 173 originations, totaling $49,025,000 in origination value.
Applicant Income
Olympia Federal Savings & Loan Association lent most frequently to those with incomes in the $100k-150k range, with 118 originations. The second most popular income band? $150k-250k, with 80 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 411 | $122,415,000 | $297,847 | $0 | 0.00% |
Olympia Federal Savings & Loan Association lent most frequently to those with DTI ratios of Exempt%, with 411 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.35%
Olympia Federal Savings & Loan Association has an average approval rate.
Pick Rate
Approvals leading to origination61.31%
Olympia Federal Savings & Loan Association has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 411 | $122,415,000 | $297,847 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Olympia Federal Savings and Loan Association | 24081 Ne State Route 3 Belfair, WA 98528 | Full Service B&M | $40,354 |
| Olympia Federal Savings and Loan Association | 2420 Harrison Ave Olympia, WA 98502 | Full Service B&M | $90,173 |
| Olympia Federal Savings and Loan Association | 403 Cleveland Ave Se #c Tumwater, WA 98501 | Full Service B&M | $59,839 |
| Olympia Federal Savings and Loan Association | 421 Capitol Way S Olympia, WA 98507 | Full Service B&M | $130,941 |
| Olympia Federal Savings and Loan Association | 4310 6th Ave Se Lacey, WA 98503 | Full Service B&M | $89,071 |
| Olympia Federal Savings and Loan Association | 4860 Yelm Highway Southeast Lacey, WA 98503 | Full Service B&M | $57,586 |
| Olympia Federal Savings and Loan Association | 8300 Quinault Dr Ne Olympia, WA 98516 | Full Service B&M | $33,390 |
| Olympia Federal Savings and Loan Association | 907 Yelm Avenue W Yelm, WA 98597 | Full Service B&M | $7,902 |
For 2018, Olympia Federal Savings & Loan Association had 8 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $25,611 |
| Net interest income | $21,719 |
| Total noninterest income | $1,430 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $76 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,354 |
| Pre-tax net operating income | $4,523 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,836 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,836 |
| Minority interest net income | $0 |
| Net income | $3,836 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,836 |
Olympia Federal Savings & Loan Association's gross interest income from loans was $25,611,000.
Olympia Federal Savings & Loan Association's net interest income from loans was $21,719,000.
Olympia Federal Savings & Loan Association's fee based income from loans was $76,000.
Olympia Federal Savings & Loan Association's net income from loans was $3,836,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,892 |
| Provision for credit losses | $100 |
| Total noninterest expense | $18,526 |
| Salaries and employee benefits | $11,327 |
| Premises and equipment expense | $1,894 |
| Additional noninterest expense | $5,305 |
| Applicable income taxes | $687 |
| Net charge-offs | $41 |
| Cash dividends | $0 |
Olympia Federal Savings & Loan Association's interest expense for loans was $3,892,000.
Olympia Federal Savings & Loan Association's payroll and benefits expense were $11,327,000.
Olympia Federal Savings & Loan Association's property, plant and equipment expenses $1,894,000.
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 | $523,014 |
| Deposits held in domestic offices | $523,014 |
| Deposits by Individuals, partnerships, and corporations | $522,974 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $39 |
| 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 | $103,574 |
| Demand deposits | $46,552 |
| Nontransaction accounts | $419,439 |
| Money market deposit accounts (MMDAs) | $97,855 |
| Other savings deposits (excluding MMDAs) | $103,493 |
| Total time deposits | $218,091 |
| Total time and savings deposits | $476,461 |
| Noninterest-bearing deposits | $29,776 |
| Interest-bearing deposits | $493,238 |
| Retail deposits | $506,183 |
| IRAs and Keogh plan accounts | $35,193 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $662,942 |
| Cash & Balances due from depository institutions | $15,082 |
| Interest-bearing balances | $10,924 |
| Total securities | $46,726 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $554,998 |
| Loan and leases loss allowance | $1,447 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $17,425 |
| Other real estate owned | $90 |
| Goodwill and other intangibles | $0 |
| All other assets | $28,621 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $662,941 |
| Total Liabilities | $564,535 |
| Total deposits | $523,014 |
| Interest-bearing deposits | $493,238 |
| Deposits held in domestic offices | $523,014 |
| % insured (estimated) | $94 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $38,193 |
| Subordinated debt | $0 |
| All other liabilities | $3,328 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $554,998 |
| Loan and leases loss allowance | $1,447 |
| Total loans and leases (domestic) | $556,445 |
| All real estate loans | $551,970 |
| Real estate loans in domestic offices | $551,970 |
| Construction and development loans | $36,689 |
| Residential 1-4 family construction | $21,960 |
| Other construction, all land development and other land | $14,729 |
| Loans secured by nonfarm nonresidential properties | $46,285 |
| Nonfarm nonresidential secured by owner-occupied properties | $9,309 |
| Commercial real estate & other non-farm, non-residential | $36,976 |
| Multifamily residential real estate | $7,415 |
| 1-4 family residential loans | $461,581 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $1,972 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,164 |
| Credit card loans | $0 |
| Related Plans | $1,382 |
| Consumer Auto Loans | $504 |
| Other loans to individuals | $278 |
| All other loans & leases | $339 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $339 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $259 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Olympia Federal Savings & Loan Association had $554,998,000 of loans outstanding in 2018. $551,970,000 of loans were in real estate loans. $36,689,000 of loans were in development loans. $7,415,000 of loans were in multifamily mortgage loans. $461,581,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $504,000 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 | 42 | $14,203 | $338,167 |
| Nonfarm, nonresidential loans - <$100k | 4 | $230 | $57,500 |
| Nonfarm, nonresidential loans - $100-250k | 11 | $1,494 | $135,818 |
| Nonfarm, nonresidential loans - $250k-1MM | 27 | $12,479 | $462,185 |
| Commercial & Industrial, US addressed loans - <$1MM | 17 | $1,971 | $115,941 |
| Commercial & Industrial, US addressed loans - <$100k | 15 | $902 | $60,133 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 2 | $1,069 | $534,500 |