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, Centralia, Aberdeen, and Seattle among others. We have data for 9 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% | 12/16/24 |
| 30 Year Conventional Refi | 5.95% | 12/16/24 |
| 15 Year Conventional Purchase | 6.29% | 12/16/24 |
| 15 Year Conventional Refi | 5.87% | 12/16/24 |
| 15 Year Cash-out Refi | 5.87% | 12/16/24 |
| 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
554Origination Dollar Volume (All Markets)
$197,880,000Employee count
117Top 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) | 372 | $139,980,000 | $376,290 | $0 | 0.00% |
| Shelton, WA (FHA|USDA|VA) | 72 | $18,280,000 | $253,889 | $0 | 0.00% |
| Centralia, WA (FHA|USDA|VA) | 38 | $14,030,000 | $369,211 | $0 | 0.00% |
| Aberdeen, WA (FHA|USDA|VA) | 38 | $11,640,000 | $306,316 | $0 | 0.00% |
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 21 | $8,295,000 | $395,000 | $0 | 0.00% |
| BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) | 10 | $5,010,000 | $501,000 | $0 | 0.00% |
| LONGVIEW, WA (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $195,000 | $195,000 | $0 | 0.00% |
| Port Angeles, WA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
Their top states include:
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 554 | $197,880,000 | $357,184 | $0 | 0.00% |
For 2020, Olympia Federal Savings & Loan Association's most frequently originated type of loan was Conventional, with 554 originations.
Loan Reason
For 2020, Olympia Federal Savings & Loan Association's most frequently cited loan purpose was Home Purchase, with 289 originations. The 2nd most popular reason was Refi, with 247 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 554 | $197,880,000 | $357,184 | $0 | 0.00% |
For 2020, Olympia Federal Savings & Loan Association's most frequently cited loan duration was Other, with 554 originations.
Loan Sizing
2020 saw Olympia Federal Savings & Loan Association place emphasis on $200k-400k loans with 263 originations, totaling $76,495,000 in origination value.
Applicant Income
Olympia Federal Savings & Loan Association lent most frequently to those with incomes in the $100k-150k range, with 128 originations. The second most popular income band? $150k-250k, with 118 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 554 | $197,880,000 | $357,184 | $0 | 0.00% |
Olympia Federal Savings & Loan Association lent most frequently to those with DTI ratios of Exempt%, with 554 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.89%
Olympia Federal Savings & Loan Association has an average approval rate.
Pick Rate
Approvals leading to origination84.66%
Olympia Federal Savings & Loan Association has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 554 | $197,880,000 | $357,184 |
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 | $46,676 |
| Olympia Federal Savings and Loan Association | 2420 Harrison Ave Olympia, WA 98502 | Full Service B&M | $108,210 |
| Olympia Federal Savings and Loan Association | 403 Cleveland Ave Se #c Tumwater, WA 98501 | Full Service B&M | $75,361 |
| Olympia Federal Savings and Loan Association | 421 Capitol Way S Olympia, WA 98507 | Full Service B&M | $159,625 |
| Olympia Federal Savings and Loan Association | 4310 6th Ave Se Lacey, WA 98503 | Full Service B&M | $97,016 |
| Olympia Federal Savings and Loan Association | 4860 Yelm Highway Southeast Lacey, WA 98503 | Full Service B&M | $67,176 |
| Olympia Federal Savings and Loan Association | 8300 Quinault Dr Ne Olympia, WA 98516 | Full Service B&M | $46,526 |
| Olympia Federal Savings and Loan Association | 907 Yelm Avenue W Yelm, WA 98597 | Full Service B&M | $15,554 |
For 2020, Olympia Federal Savings & Loan Association had 8 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $28,617 |
| Net interest income | $22,505 |
| Total noninterest income | $1,497 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $43 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,454 |
| Pre-tax net operating income | $4,202 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,369 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,369 |
| Minority interest net income | $0 |
| Net income | $3,369 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,369 |
Olympia Federal Savings & Loan Association's gross interest income from loans was $28,617,000.
Olympia Federal Savings & Loan Association's net interest income from loans was $22,505,000.
Olympia Federal Savings & Loan Association's fee based income from loans was $43,000.
Olympia Federal Savings & Loan Association's net income from loans was $3,369,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,112 |
| Provision for credit losses | $616 |
| Total noninterest expense | $19,184 |
| Salaries and employee benefits | $11,957 |
| Premises and equipment expense | $1,800 |
| Additional noninterest expense | $5,427 |
| Applicable income taxes | $833 |
| Net charge-offs | $142 |
| Cash dividends | $0 |
Olympia Federal Savings & Loan Association's interest expense for loans was $6,112,000.
Olympia Federal Savings & Loan Association's payroll and benefits expense were $11,957,000.
Olympia Federal Savings & Loan Association's property, plant and equipment expenses $1,800,000.
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 | 2.0% |
| 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 | $650,808 |
| Deposits held in domestic offices | $650,808 |
| Deposits by Individuals, partnerships, and corporations | $649,307 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $1,005 |
| Deposits by Commercial banks and other depository institutions in U.S. | $497 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $161,446 |
| Demand deposits | $88,443 |
| Nontransaction accounts | $489,363 |
| Money market deposit accounts (MMDAs) | $137,898 |
| Other savings deposits (excluding MMDAs) | $122,941 |
| Total time deposits | $228,524 |
| Total time and savings deposits | $562,366 |
| Noninterest-bearing deposits | $50,679 |
| Interest-bearing deposits | $600,129 |
| Retail deposits | $620,364 |
| IRAs and Keogh plan accounts | $36,164 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $790,855 |
| Cash & Balances due from depository institutions | $66,597 |
| Interest-bearing balances | $60,637 |
| Total securities | $75,044 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $603,752 |
| Loan and leases loss allowance | $2,085 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $15,899 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $29,563 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $790,854 |
| Total Liabilities | $685,087 |
| Total deposits | $650,808 |
| Interest-bearing deposits | $600,129 |
| Deposits held in domestic offices | $650,808 |
| % insured (estimated) | $91 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $29,193 |
| Subordinated debt | $0 |
| All other liabilities | $5,086 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $603,752 |
| Loan and leases loss allowance | $2,085 |
| Total loans and leases (domestic) | $605,837 |
| All real estate loans | $598,133 |
| Real estate loans in domestic offices | $598,133 |
| Construction and development loans | $36,579 |
| Residential 1-4 family construction | $24,532 |
| Other construction, all land development and other land | $12,047 |
| Loans secured by nonfarm nonresidential properties | $46,767 |
| Nonfarm nonresidential secured by owner-occupied properties | $9,440 |
| Commercial real estate & other non-farm, non-residential | $37,327 |
| Multifamily residential real estate | $42,685 |
| 1-4 family residential loans | $472,102 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $4,424 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,482 |
| Credit card loans | $0 |
| Related Plans | $1,310 |
| Consumer Auto Loans | $762 |
| Other loans to individuals | $410 |
| All other loans & leases | $798 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $798 |
| 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 | $161 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Olympia Federal Savings & Loan Association had $603,752,000 of loans outstanding in 2020. $598,133,000 of loans were in real estate loans. $36,579,000 of loans were in development loans. $42,685,000 of loans were in multifamily mortgage loans. $472,102,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $762,000 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 | 57 | $5,809 | $101,912 |
| Nonfarm, nonresidential loans - <$100k | 5 | $148 | $29,600 |
| Nonfarm, nonresidential loans - $100-250k | 11 | $1,182 | $107,455 |
| Nonfarm, nonresidential loans - $250k-1MM | 41 | $4,479 | $109,244 |
| Commercial & Industrial, US addressed loans - <$1MM | 90 | $4,424 | $49,156 |
| Commercial & Industrial, US addressed loans - <$100k | 75 | $2,246 | $29,947 |
| Commercial & Industrial, US addressed loans - $100-250k | 11 | $1,169 | $106,273 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 4 | $1,009 | $252,250 |