Timberland Bank Mortgage Rates, Fees & Info
Hoquiam, WA
LEI: 254900MKY47WU65N1J56
Tax ID: 91-0260220
3.7 stars
-
out of 5 stars, based on 25 reviews
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Mortgage Data
Bank Data
Overview
Timberland Bank is a
smaller
bank
specializing in
Home Purchase
loans.
Timberland Bank has a high proportion of conventional loans.
Their top markets include Seattle, Olympia, Bremerton, Aberdeen, and Centralia among others. Timberland Bank has
an average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Timberland Bank is typically
a high fee
lendor.
Originations
646
Origination Dollar Volume (All Markets)
$272,450,000
Employee count
290
Relative Rate
Timberland Bank's average 30 year fixed rate mortgage of loans were
3.16%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of 0.01%.
Relative Fees
Timberland Bank's average total fees for a 30 year fixed rate
mortgage are $6,020.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA)
|
214
|
$99,260,000 |
$463,832 |
$8,400 |
4.10% |
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA)
|
81
|
$55,225,000 |
$681,790 |
$7,378 |
3.75% |
BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA)
|
86
|
$36,700,000 |
$426,744 |
$7,511 |
4.16% |
Aberdeen, WA (FHA|USDA|VA)
|
119
|
$28,455,000 |
$239,118 |
$5,124 |
3.37% |
Centralia, WA (FHA|USDA|VA)
|
48
|
$15,850,000 |
$330,208 |
$6,923 |
3.89% |
Shelton, WA (FHA|USDA|VA)
|
37
|
$12,405,000 |
$335,270 |
$7,129 |
4.06% |
Outside of Metro Areas
|
14 |
$4,080,000 |
$291,429 |
$6,397 |
4.16% |
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)
|
6
|
$3,830,000 |
$638,333 |
$12,355 |
3.38% |
LONGVIEW, WA (FHA|USDA|VA)
|
11
|
$3,735,000 |
$339,545 |
$7,878 |
3.86% |
Port Angeles, WA (FHA|USDA|VA)
|
7
|
$2,115,000 |
$302,143 |
$6,498 |
4.57% |
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA)
|
6
|
$2,080,000 |
$346,667 |
$10,386 |
3.88% |
BELLINGHAM, WA (FHA|USDA|VA)
|
2
|
$1,840,000 |
$920,000 |
$0 |
3.63% |
Ellensburg, WA (FHA|USDA|VA)
|
4
|
$1,840,000 |
$460,000 |
$8,027 |
3.44% |
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA)
|
2
|
$1,470,000 |
$735,000 |
$9,961 |
3.88% |
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)
|
1
|
$1,255,000 |
$1,255,000 |
$8,621 |
3.63% |
WENATCHEE, WA (FHA|USDA|VA)
|
2
|
$690,000 |
$345,000 |
$5,958 |
4.50% |
BEND, OR (FHA|USDA|VA)
|
1
|
$325,000 |
$325,000 |
$10,788 |
5.88% |
Hood River, OR (FHA|USDA|VA)
|
1
|
$315,000 |
$315,000 |
$5,580 |
3.63% |
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA)
|
1
|
$315,000 |
$315,000 |
$4,612 |
3.25% |
KENNEWICK-RICHLAND, WA (FHA|USDA|VA)
|
1
|
$255,000 |
$255,000 |
$4,531 |
2.88% |
MOUNT VERNON-ANACORTES, WA (FHA|USDA|VA)
|
1
|
$245,000 |
$245,000 |
$0 |
3.25% |
CORVALLIS, OR (FHA|USDA|VA)
|
1
|
$165,000 |
$165,000 |
$3,284 |
3.13% |
Timberland Bank's top markets include Seattle, Olympia, Bremerton, Aberdeen, and Centralia among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
646 |
$272,450,000 |
$421,749 |
$7,291 |
3.90% |
For the 2021 period, Timberland Bank's most frequently
originated loan type
of loans were Conventional, with 646 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Home Purchase |
308 |
$171,240,000 |
$555,974 |
$9,603 |
4.71% |
Refi |
159 |
$52,575,000 |
$330,660 |
$4,824 |
3.12% |
Cash Out Refi |
159 |
$43,595,000 |
$274,182 |
$5,882 |
2.99% |
Other |
11 |
$2,145,000 |
$195,000 |
$5,119 |
4.55% |
Home Improvement |
9 |
$2,895,000 |
$321,667 |
$6,455 |
5.03% |
For the 2021, Timberland Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 308
originations.
The 2nd most popular reason of loans were Refi,
with 159 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
30 Year |
328 |
$111,050,000 |
$338,567 |
$6,020 |
3.16% |
30+ year |
158 |
$67,480,000 |
$427,089 |
$10,909 |
5.81% |
15 Year |
61 |
$14,325,000 |
$234,836 |
$4,141 |
2.87% |
10 Year |
57 |
$61,785,000 |
$1,083,947 |
$2,893 |
3.93% |
20 Year |
28 |
$6,200,000 |
$221,429 |
$5,079 |
3.45% |
Other |
10 |
$8,940,000 |
$894,000 |
$16,166 |
4.67% |
5 Year |
2 |
$850,000 |
$425,000 |
$0 |
5.88% |
1 Year |
1 |
$1,455,000 |
$1,455,000 |
$18,080 |
4.50% |
3 Year |
1 |
$365,000 |
$365,000 |
$0 |
4.50% |
For the 2021, Timberland Bank's most frequently cited loan
length
of loans were 30 Year, with 328 originations.
The 2nd most popular length of loans were 30+ year,
with 158 originations.
Origination Fees
Origination Fee |
Originations |
Total Value |
Average Loan |
$5k+ |
229 |
$112,995,000 |
$493,428 |
$1k-2k |
95 |
$19,465,000 |
$204,895 |
$2k-3k |
90 |
$26,800,000 |
$297,778 |
$3k-4k |
90 |
$27,680,000 |
$307,556 |
$<1k |
46 |
$8,480,000 |
$184,348 |
$6,020 of loans were Timberland Bank's
average total fees, while their most
frequently occuring range of origination fees were in the
$5k+ bucket,
with 229 originations.
Interest Rates
Loan Rate |
Originations |
Total Value |
Average Loan |
3-4% |
224 |
$97,910,000 |
$437,098 |
2.5-3% |
164 |
$49,320,000 |
$300,732 |
5-6% |
156 |
$62,310,000 |
$399,423 |
4-5% |
55 |
$53,055,000 |
$964,636 |
<2.5% |
41 |
$9,015,000 |
$219,878 |
6-7% |
3 |
$345,000 |
$115,000 |
Over 8% |
2 |
$130,000 |
$65,000 |
During 2021, Timberland Bank's average interest
rate of loans were 3.16%, while their
most frequently originated rate bucket of loans were 3-4%,
with 224 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$200k-400k |
292 |
$86,120,000 |
$294,932 |
$6,448 |
3.79% |
$400k-600k |
130 |
$62,560,000 |
$481,231 |
$9,228 |
4.26% |
$100k-200k |
121 |
$18,695,000 |
$154,504 |
$3,892 |
3.41% |
$600k-1MM |
57 |
$42,115,000 |
$738,860 |
$13,851 |
4.42% |
$100,000 or less |
25 |
$1,845,000 |
$73,800 |
$2,536 |
4.17% |
$1MM+ |
21 |
$61,115,000 |
$2,910,238 |
$19,778 |
4.13% |
2021 saw Timberland Bank place emphasis on
$200k-400k loans
with 292 originations, totaling
$86,120,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$100k-150k |
163 |
$58,285,000 |
$357,577 |
$7,581 |
4.13% |
$150k-250k |
121 |
$53,665,000 |
$443,512 |
$9,078 |
4.05% |
$50k-75k |
99 |
$21,595,000 |
$218,131 |
$5,280 |
3.62% |
$75k-100k |
88 |
$26,190,000 |
$297,614 |
$6,453 |
4.00% |
$250k+ |
54 |
$34,490,000 |
$638,704 |
$12,615 |
3.88% |
$50k or less |
46 |
$6,900,000 |
$150,000 |
$3,749 |
3.54% |
Timberland Bank lent most frequently to those with incomes in the
$100k-150k range, with
163 originations.
The second most popular income band? $150k-250k,
with 121 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-30% |
147 |
$46,835,000 |
$318,605 |
$6,158 |
3.45% |
30-36% |
119 |
$39,765,000 |
$334,160 |
$6,808 |
3.69% |
<20% |
54 |
$17,900,000 |
$331,481 |
$7,014 |
3.39% |
44% |
33 |
$12,195,000 |
$369,545 |
$9,364 |
4.63% |
41% |
30 |
$11,140,000 |
$371,333 |
$9,081 |
4.43% |
43% |
30 |
$11,670,000 |
$389,000 |
$9,184 |
4.75% |
42% |
26 |
$10,810,000 |
$415,769 |
$9,142 |
4.48% |
38% |
25 |
$10,665,000 |
$426,600 |
$7,737 |
4.22% |
40% |
24 |
$8,910,000 |
$371,250 |
$7,669 |
4.32% |
39% |
23 |
$9,455,000 |
$411,087 |
$8,081 |
4.30% |
37% |
16 |
$6,310,000 |
$394,375 |
$7,702 |
3.80% |
36% |
16 |
$5,400,000 |
$337,500 |
$6,113 |
3.41% |
45% |
12 |
$4,840,000 |
$403,333 |
$7,804 |
3.31% |
46% |
10 |
$2,780,000 |
$278,000 |
$6,163 |
4.45% |
47% |
10 |
$3,300,000 |
$330,000 |
$6,960 |
4.49% |
48% |
8 |
$2,340,000 |
$292,500 |
$6,319 |
3.41% |
50-60% |
3 |
$595,000 |
$198,333 |
$10,307 |
5.83% |
49% |
1 |
$215,000 |
$215,000 |
$8,284 |
3.13% |
>60% |
1 |
$315,000 |
$315,000 |
$5,466 |
2.63% |
Timberland Bank lent most frequently to those with DTI ratios
of 20-30%, with
147 originations.
The next most common DTI ratio? 30-36%,
with 119 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
White |
507 |
$177,495,000 |
$350,089 |
$7,256 |
3.86% |
Not applicable |
47 |
$56,105,000 |
$1,193,723 |
$0 |
4.14% |
Not provided |
61 |
$29,705,000 |
$486,967 |
$8,016 |
4.15% |
Asian |
11 |
$3,455,000 |
$314,091 |
$7,421 |
3.88% |
Black |
10 |
$3,160,000 |
$316,000 |
$7,393 |
3.86% |
Filipino |
3 |
$745,000 |
$248,333 |
$6,050 |
2.75% |
American Indian |
4 |
$730,000 |
$182,500 |
$3,462 |
2.59% |
Native Hawaiian |
1 |
$605,000 |
$605,000 |
$7,296 |
3.25% |
Japanese |
1 |
$255,000 |
$255,000 |
$7,276 |
5.88% |
Other Pacific Islander |
1 |
$195,000 |
$195,000 |
$6,957 |
5.88% |
Approval Rates
Total approvals of all applications
88.40%
Timberland Bank has an average approval rate.
Pick Rate
Approvals leading to origination
75.08%
Timberland Bank has a below average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
1274.0 |
1 |
$55,000 |
$55,000 |
1284.0 |
1 |
$75,000 |
$75,000 |
NA |
644 |
$272,320,000 |
$422,857 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
646 |
$272,450,000 |
$421,749 |
LTV Distribution
Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-40% |
104 |
$21,400,000 |
$205,769 |
$4,392 |
3.57% |
40-60% |
200 |
$64,470,000 |
$322,350 |
$6,009 |
3.72% |
60-80% |
264 |
$152,480,000 |
$577,576 |
$9,285 |
4.10% |
80-100% |
65 |
$31,335,000 |
$482,077 |
$9,506 |
4.15% |
Under 20% |
13 |
$2,765,000 |
$212,692 |
$2,195 |
3.85% |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
Timberland Bank |
101 Second Street Toledo, WA 98591 |
Full Service B&M
|
$59,655 |
Timberland Bank |
2418 Meridian Ave. E. Puyallup, WA 98371 |
Full Service B&M
|
$72,139 |
Timberland Bank |
2419 224th Street Se P.O. Box 4940 Spanaway, WA 98387 |
Full Service B&M
|
$64,588 |
Timberland Bank |
2850 Harrison Avenue Nw 10 Olympia, WA 98502 |
Full Service B&M
|
$96,756 |
Timberland Bank |
300 North Boone St. P.O. Box 233 Aberdeen, WA 98520 |
Full Service B&M
|
$47,477 |
Timberland Bank |
301 Trosper Road Sw Tumwater, WA 98512 |
Full Service B&M
|
$56,507 |
Timberland Bank |
3105 Judson Street Gig Harbor, WA 98335 |
Full Service B&M
|
$54,809 |
Timberland Bank |
313 Waldrip Street Elma, WA 98541 |
Full Service B&M
|
$70,978 |
Timberland Bank |
361 Damon Rd. P.O. Box 1029 Ocean Shores, WA 98569 |
Full Service B&M
|
$45,379 |
Timberland Bank |
423 Washington Street Southeast Olympia, WA 98501 |
Full Service B&M
|
$79,462 |
Timberland Bank |
4530 Lacey Boulevard Se Lacey, WA 98503 |
Full Service B&M
|
$149,486 |
Timberland Bank |
624 Simpson Avenue Hoquiam, WA 98550 |
Full Service B&M
|
$87,265 |
Timberland Bank |
714 West Main Street Chehalis, WA 98532 |
Full Service B&M
|
$58,195 |
Timberland Bank |
7805 So. Hosmer Tacoma, WA 98406 |
Full Service B&M
|
$133,024 |
Timberland Bank |
101 Yelm Avenue W. (P.O. Box 2349) Yelm, WA 98597 |
Full Service B&M
|
$49,607 |
Timberland Bank |
117 N Broadway Aberdeen, WA 98520 |
Full Service B&M
|
$68,773 |
Timberland Bank |
1201 Marvin Road N.E. Lacey, WA 98509 |
Full Service B&M
|
$39,780 |
Timberland Bank |
12814 Meridian E. (P.O. Box 73638) Puyallup, WA 98373 |
Full Service B&M
|
$57,117 |
Timberland Bank |
1751 Circle Ln Se Lacey, WA 98503 |
Full Service B&M
|
$19,983 |
Timberland Bank |
201 S Main Street South P.O. Box 289 Montesano, WA 98563 |
Full Service B&M
|
$53,074 |
Timberland Bank |
202 Auburn Way South P.O. Box 1635 Auburn, WA 98002 |
Full Service B&M
|
$43,809 |
Timberland Bank |
20464 Viking Avenue Poulsbo, WA 98370 |
Full Service B&M
|
$32,217 |
Timberland Bank |
209 Northeast First Street Winlock, WA 98596 |
Full Service B&M
|
$30,678 |
Timberland Bank |
2401 Nw Bucklin Hill Road Silverdale, WA 98383 |
Full Service B&M
|
$52,121 |
For 2021, Timberland Bank had 24 branches.
Yearly Performance Overview
Bank Income
Timberland Bank's gross interest income from loans was $54,320,000.
Timberland Bank's net interest income from loans was $51,503,000.
Timberland Bank's fee based income from loans was $3,768,000.
Timberland Bank's net income from loans was $25,957,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$2,817 |
Provision for credit losses |
$0 |
Total noninterest expense |
$35,218 |
Salaries and employee benefits |
$19,308 |
Premises and equipment expense |
$3,914 |
Additional noninterest expense |
$11,996 |
Applicable income taxes |
$6,577 |
Net charge-offs |
$-36 |
Cash dividends |
$9,175 |
Timberland Bank's interest expense for loans was $2,817,000.
Timberland Bank's payroll and benefits expense were $19,308,000.
Timberland Bank's property, plant and equipment expenses $3,914,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$1,606,819 |
Deposits held in domestic offices |
$1,606,819 |
Deposits by Individuals, partnerships, and corporations |
$1,497,918 |
Deposits by U.S. Government |
$0 |
Deposits by States and political subdivisions in the U.S. |
$108,874 |
Deposits by Commercial banks and other depository institutions in U.S. |
$27 |
Deposits by Banks in foreign countries |
$0 |
Deposits by Foreign governments and official institutions |
$0 |
Transaction accounts |
$982,785 |
Demand deposits |
$523,706 |
Nontransaction accounts |
$624,034 |
Money market deposit accounts (MMDAs) |
$222,457 |
Other savings deposits (excluding MMDAs) |
$269,423 |
Total time deposits |
$132,154 |
Total time and savings deposits |
$1,083,113 |
Noninterest-bearing deposits |
$523,706 |
Interest-bearing deposits |
$1,083,113 |
Retail deposits |
$1,584,833 |
IRAs and Keogh plan accounts |
$32,136 |
Brokered deposits |
$10,619 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$1,828,416 |
Cash & Balances due from depository institutions |
$568,809 |
Interest-bearing balances |
$548,270 |
Total securities |
$171,598 |
Federal funds sold & reverse repurchase |
$11,816 |
Net loans and leases |
$997,707 |
Loan and leases loss allowance |
$13,468 |
Trading account assets |
$0 |
Bank premises and fixed assets |
$22,108 |
Other real estate owned |
$157 |
Goodwill and other intangibles |
$19,840 |
All other assets |
$36,381 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$1,828,416 |
Total Liabilities |
$1,621,169 |
Total deposits |
$1,606,819 |
Interest-bearing deposits |
$1,083,113 |
Deposits held in domestic offices |
$1,606,819 |
% insured (estimated) |
$92 |
Federal funds purchased and repurchase agreements |
$0 |
Trading liabilities |
$0 |
Other borrowed funds |
$5,000 |
Subordinated debt |
$0 |
All other liabilities |
$9,350 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$997,707 |
Loan and leases loss allowance |
$13,468 |
Total loans and leases (domestic) |
$1,011,175 |
All real estate loans |
$906,838 |
Real estate loans in domestic offices |
$906,838 |
Construction and development loans |
$157,931 |
Residential 1-4 family construction |
$72,508 |
Other construction, all land development and other land |
$85,423 |
Loans secured by nonfarm nonresidential properties |
$497,350 |
Nonfarm nonresidential secured by owner-occupied properties |
$196,431 |
Commercial real estate & other non-farm, non-residential |
$300,919 |
Multifamily residential real estate |
$84,180 |
1-4 family residential loans |
$167,226 |
Farmland loans |
$151 |
Loans held in foreign offices |
$0 |
Farm loans |
$0 |
Commercial and industrial loans |
$106,396 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$2,463 |
Credit card loans |
$0 |
Related Plans |
$0 |
Consumer Auto Loans |
$175 |
Other loans to individuals |
$2,288 |
All other loans & leases |
$17 |
Loans to foreign governments and official institutions |
$0 |
Other loans |
$0 |
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 |
$2,361 |
Non 1-4 family restructured loans & leases |
$2,361 |
Total loans and leases (foreign) |
$0 |
Timberland Bank had $997,707,000 of loans outstanding in 2021. $906,838,000 of loans were in real estate loans.
$157,931,000 of loans were in development loans. $84,180,000 of loans were in multifamily mortgage loans.
$167,226,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $175,000 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 |
434 |
$137,220 |
$316,175 |
Nonfarm, nonresidential loans - <$100k |
43 |
$2,174 |
$50,558 |
Nonfarm, nonresidential loans - $100-250k |
138 |
$19,601 |
$142,036 |
Nonfarm, nonresidential loans - $250k-1MM |
253 |
$115,445 |
$456,304 |
Commercial & Industrial, US addressed loans - <$1MM |
776 |
$79,875 |
$102,932 |
Commercial & Industrial, US addressed loans - <$100k |
455 |
$14,231 |
$31,277 |
Commercial & Industrial, US addressed loans - $100-250k |
194 |
$23,443 |
$120,840 |
Commercial & Industrial, US addressed loans - $250k-1MM |
127 |
$42,201 |
$332,291 |
Farmland loans - <$1MM |
1 |
$151 |
$151,000 |
Farmland loans - $100-250k |
1 |
$151 |
$151,000 |