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 and Refi loans. Olympia Federal Savings & Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Olympia, Shelton, Aberdeen, Seattle, and Centralia 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 above 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% | 4/22/24 |
| 30 Year Conventional Refi | 5.95% | 4/22/24 |
| 15 Year Conventional Purchase | 6.29% | 4/22/24 |
| 15 Year Conventional Refi | 5.87% | 4/22/24 |
| 15 Year Cash-out Refi | 5.87% | 4/22/24 |
| 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
335Origination Dollar Volume (All Markets)
$99,805,000Employee count
109Top 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) | 224 | $68,540,000 | $305,982 | $0 | 0.00% |
| Shelton, WA (FHA|USDA|VA) | 41 | $10,375,000 | $253,049 | $0 | 0.00% |
| Aberdeen, WA (FHA|USDA|VA) | 27 | $7,665,000 | $283,889 | $0 | 0.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 15 | $5,055,000 | $337,000 | $0 | 0.00% |
| Centralia, WA (FHA|USDA|VA) | 19 | $5,045,000 | $265,526 | $0 | 0.00% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 6 | $2,220,000 | $370,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $640,000 | $320,000 | $0 | 0.00% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $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 | 335 | $99,805,000 | $297,925 | $0 | 0.00% |
For 2019, Olympia Federal Savings & Loan Association's most frequently originated type of loan was Conventional, with 335 originations.
Loan Reason
For 2019, Olympia Federal Savings & Loan Association's most frequently cited loan purpose was Home Purchase, with 228 originations. The 2nd most popular reason was Refi, with 81 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 335 | $99,805,000 | $297,925 | $0 | 0.00% |
For 2019, Olympia Federal Savings & Loan Association's most frequently cited loan duration was Other, with 335 originations.
Loan Sizing
2019 saw Olympia Federal Savings & Loan Association place emphasis on $200k-400k loans with 142 originations, totaling $42,330,000 in origination value.
Applicant Income
Olympia Federal Savings & Loan Association lent most frequently to those with incomes in the $100k-150k range, with 91 originations. The second most popular income band? $75k-100k, with 63 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 335 | $99,805,000 | $297,925 | $0 | 0.00% |
Olympia Federal Savings & Loan Association lent most frequently to those with DTI ratios of Exempt%, with 335 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.99%
Olympia Federal Savings & Loan Association has an average approval rate.
Pick Rate
Approvals leading to origination73.73%
Olympia Federal Savings & Loan Association has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 335 | $99,805,000 | $297,925 |
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 | $42,269 |
| Olympia Federal Savings and Loan Association | 2420 Harrison Ave Olympia, WA 98502 | Full Service B&M | $96,464 |
| Olympia Federal Savings and Loan Association | 403 Cleveland Ave Se #c Tumwater, WA 98501 | Full Service B&M | $66,107 |
| Olympia Federal Savings and Loan Association | 421 Capitol Way S Olympia, WA 98507 | Full Service B&M | $131,459 |
| Olympia Federal Savings and Loan Association | 4310 6th Ave Se Lacey, WA 98503 | Full Service B&M | $89,761 |
| Olympia Federal Savings and Loan Association | 4860 Yelm Highway Southeast Lacey, WA 98503 | Full Service B&M | $59,660 |
| Olympia Federal Savings and Loan Association | 8300 Quinault Dr Ne Olympia, WA 98516 | Full Service B&M | $38,957 |
| Olympia Federal Savings and Loan Association | 907 Yelm Avenue W Yelm, WA 98597 | Full Service B&M | $10,644 |
For 2019, Olympia Federal Savings & Loan Association had 8 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $28,715 |
| Net interest income | $22,359 |
| Total noninterest income | $1,490 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $66 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,424 |
| Pre-tax net operating income | $4,762 |
| Securities gains (or losses, -) | $18 |
| Income before extraordinary items | $3,845 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,845 |
| Minority interest net income | $0 |
| Net income | $3,845 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,830 |
Olympia Federal Savings & Loan Association's gross interest income from loans was $28,715,000.
Olympia Federal Savings & Loan Association's net interest income from loans was $22,359,000.
Olympia Federal Savings & Loan Association's fee based income from loans was $66,000.
Olympia Federal Savings & Loan Association's net income from loans was $3,845,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,356 |
| Provision for credit losses | $175 |
| Total noninterest expense | $18,912 |
| Salaries and employee benefits | $11,711 |
| Premises and equipment expense | $1,781 |
| Additional noninterest expense | $5,420 |
| Applicable income taxes | $935 |
| Net charge-offs | $12 |
| Cash dividends | $0 |
Olympia Federal Savings & Loan Association's interest expense for loans was $6,356,000.
Olympia Federal Savings & Loan Association's payroll and benefits expense were $11,711,000.
Olympia Federal Savings & Loan Association's property, plant and equipment expenses $1,781,000.
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 | 1.0% |
| 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 | $563,629 |
| Deposits held in domestic offices | $563,629 |
| Deposits by Individuals, partnerships, and corporations | $563,613 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $16 |
| 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 | $115,402 |
| Demand deposits | $54,871 |
| Nontransaction accounts | $448,227 |
| Money market deposit accounts (MMDAs) | $94,618 |
| Other savings deposits (excluding MMDAs) | $108,297 |
| Total time deposits | $245,312 |
| Total time and savings deposits | $508,758 |
| Noninterest-bearing deposits | $34,653 |
| Interest-bearing deposits | $528,976 |
| Retail deposits | $535,208 |
| IRAs and Keogh plan accounts | $35,330 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $710,543 |
| Cash & Balances due from depository institutions | $26,975 |
| Interest-bearing balances | $22,943 |
| Total securities | $42,584 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $594,527 |
| Loan and leases loss allowance | $1,611 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $16,802 |
| Other real estate owned | $90 |
| Goodwill and other intangibles | $0 |
| All other assets | $29,565 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $710,542 |
| Total Liabilities | $607,446 |
| Total deposits | $563,629 |
| Interest-bearing deposits | $528,976 |
| Deposits held in domestic offices | $563,629 |
| % insured (estimated) | $93 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $40,193 |
| Subordinated debt | $0 |
| All other liabilities | $3,624 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $594,527 |
| Loan and leases loss allowance | $1,611 |
| Total loans and leases (domestic) | $596,138 |
| All real estate loans | $590,495 |
| Real estate loans in domestic offices | $590,495 |
| Construction and development loans | $39,374 |
| Residential 1-4 family construction | $15,072 |
| Other construction, all land development and other land | $24,302 |
| Loans secured by nonfarm nonresidential properties | $46,761 |
| Nonfarm nonresidential secured by owner-occupied properties | $10,450 |
| Commercial real estate & other non-farm, non-residential | $36,311 |
| Multifamily residential real estate | $14,061 |
| 1-4 family residential loans | $490,299 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $1,943 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,292 |
| Credit card loans | $0 |
| Related Plans | $1,571 |
| Consumer Auto Loans | $899 |
| Other loans to individuals | $822 |
| All other loans & leases | $409 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $409 |
| 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 | $174 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Olympia Federal Savings & Loan Association had $594,527,000 of loans outstanding in 2019. $590,495,000 of loans were in real estate loans. $39,374,000 of loans were in development loans. $14,061,000 of loans were in multifamily mortgage loans. $490,299,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $899,000 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 | 47 | $15,325 | $326,064 |
| Nonfarm, nonresidential loans - <$100k | 5 | $160 | $32,000 |
| Nonfarm, nonresidential loans - $100-250k | 12 | $1,477 | $123,083 |
| Nonfarm, nonresidential loans - $250k-1MM | 30 | $13,688 | $456,267 |
| Commercial & Industrial, US addressed loans - <$1MM | 25 | $1,942 | $77,680 |
| Commercial & Industrial, US addressed loans - <$100k | 17 | $330 | $19,412 |
| Commercial & Industrial, US addressed loans - $100-250k | 5 | $555 | $111,000 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 3 | $1,057 | $352,333 |