Harford Bank Mortgage Rates, Fees & Info

Aberdeen, MD

LEI: 254900W5FH4XO4DKJB28

Tax ID: 52-0799113

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Harford Bank is a smaller bank specializing in Refi and Home Purchase loans. Harford Bank has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, Philadelphia, Salisbury, Richmond, and Dover among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Harford Bank 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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    Originations

    81

    Origination Dollar Volume (All Markets)

    $13,585,000

    Employee count

    78

    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.

    Market Originations Total Value Average Loan Average Fees Average Rate
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 49 $8,725,000 $178,061 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 25 $3,065,000 $122,600 $0 0.00%
    SALISBURY, MD-DE (FHA|USDA|VA) 4 $1,120,000 $280,000 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
    DOVER, DE (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Harford Bank's top markets include Baltimore, Philadelphia, Salisbury, Richmond, and Dover among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 81 $13,585,000 $167,716 $0 0.00%

    For 2019, Harford Bank's most frequently originated type of loan was Conventional, with 81 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 33 $5,555,000 $168,333 $0 0.00%
    Home Purchase 31 $6,155,000 $198,548 $0 0.00%
    Other 10 $1,260,000 $126,000 $0 0.00%
    Home Improvement 7 $615,000 $87,857 $0 0.00%

    For 2019, Harford Bank's most frequently cited loan purpose was Refi, with 33 originations. The 2nd most popular reason was Home Purchase, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 81 $13,585,000 $167,716 $0 0.00%

    For 2019, Harford Bank's most frequently cited loan duration was Other, with 81 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 32 $2,040,000 $63,750 $0 0.00%
    $100k-200k 24 $3,390,000 $141,250 $0 0.00%
    $200k-400k 19 $5,285,000 $278,158 $0 0.00%
    $400k-600k 6 $2,870,000 $478,333 $0 0.00%

    2019 saw Harford Bank place emphasis on $100,000 or less loans with 32 originations, totaling $2,040,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 13 $2,585,000 $198,846 $0 0.00%
    $100k-150k 11 $2,395,000 $217,727 $0 0.00%
    $75k-100k 10 $1,480,000 $148,000 $0 0.00%
    $50k or less 9 $1,215,000 $135,000 $0 0.00%
    $50k-75k 8 $1,470,000 $183,750 $0 0.00%
    $250k+ 5 $855,000 $171,000 $0 0.00%

    Harford Bank lent most frequently to those with incomes in the $150k-250k range, with 13 originations. The second most popular income band? $100k-150k, with 11 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 81 $13,585,000 $167,716 $0 0.00%

    Harford Bank lent most frequently to those with DTI ratios of Exempt%, with 81 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 53 $9,445,000 $178,208 $0 0.00%
    Not applicable 25 $3,585,000 $143,400 $0 0.00%
    American Indian 1 $235,000 $235,000 $0 0.00%
    Black 1 $175,000 $175,000 $0 0.00%
    Asian 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    72.93%

    Harford Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.25%

    Harford Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 81 $13,585,000 $167,716

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $365,000 $365,000
    Single Family (1-4 Units):Manufactured 9 $555,000 $61,667
    Single Family (1-4 Units):Site-Built 71 $12,665,000 $178,380

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    HARBORONE MORTGAGE, LLC Conventional home mortgage Trouble during payment process 2 66.7%
    HARBORONE MORTGAGE, LLC VA mortgage Trouble during payment process 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Harford Bank 133 N. Bridge Street Elkton, MD 21921 Full Service B&M $16,568
    Harford Bank 1610 Conowingo Road Bel Air, MD 21014 Full Service B&M $16,666
    Harford Bank 2905 Emmorton Road, Space #1 Abingdon, MD 21009 Full Service B&M $14,740
    Harford Bank 501 Riviera Drive Joppatowne, MD 21085 Full Service B&M $30,218
    Harford Bank 505 South Main Street Bel Air, MD 21014 Full Service B&M $71,868
    Harford Bank 545 Marketplace Drive Bel Air, MD 21014 Full Service B&M $23,724
    Harford Bank 8 West Bel Air Avenue Aberdeen, MD 21001 Full Service B&M $98,202
    Harford Bank 960 Revolution Street Havre De Grace, MD 21078 Full Service B&M $29,616

    For 2019, Harford Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,865
    Net interest income $13,678
    Total noninterest income $1,444
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $710
    Trading account gains and fees $0
    Additional Noninterest Income $734
    Pre-tax net operating income $4,392
    Securities gains (or losses, -) $3
    Income before extraordinary items $3,293
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,293
    Minority interest net income $0
    Net income $3,293
    Sale, conversion, retirement of capital stock, net $362
    Net operating income $3,290

    Harford Bank's gross interest income from loans was $15,865,000.
    Harford Bank's net interest income from loans was $13,678,000.
    Harford Bank's fee based income from loans was $710,000.
    Harford Bank's net income from loans was $3,293,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,187
    Provision for credit losses $195
    Total noninterest expense $10,535
    Salaries and employee benefits $6,208
    Premises and equipment expense $1,132
    Additional noninterest expense $3,195
    Applicable income taxes $1,102
    Net charge-offs $-4
    Cash dividends $724

    Harford Bank's interest expense for loans was $2,187,000.
    Harford Bank's payroll and benefits expense were $6,208,000.
    Harford Bank's property, plant and equipment expenses $1,132,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    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 $312,841
    Deposits held in domestic offices $312,841
    Deposits by Individuals, partnerships, and corporations $295,093
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $17,747
    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 $26,394
    Demand deposits $17,825
    Nontransaction accounts $286,447
    Money market deposit accounts (MMDAs) $36,526
    Other savings deposits (excluding MMDAs) $160,243
    Total time deposits $89,678
    Total time and savings deposits $295,016
    Noninterest-bearing deposits $79,257
    Interest-bearing deposits $233,584
    Retail deposits $282,348
    IRAs and Keogh plan accounts $12,216
    Brokered deposits $4,406
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $377,288
    Cash & Balances due from depository institutions $32,222
    Interest-bearing balances $26,157
    Total securities $42,077
    Federal funds sold & reverse repurchase $0
    Net loans and leases $283,680
    Loan and leases loss allowance $3,254
    Trading account assets $0
    Bank premises and fixed assets $8,710
    Other real estate owned $59
    Goodwill and other intangibles $0
    All other assets $10,540

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $377,288
    Total Liabilities $334,759
    Total deposits $312,841
    Interest-bearing deposits $233,584
    Deposits held in domestic offices $312,841
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $19,000
    Subordinated debt $0
    All other liabilities $2,918

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $283,680
    Loan and leases loss allowance $3,254
    Total loans and leases (domestic) $286,934
    All real estate loans $261,867
    Real estate loans in domestic offices $261,867
    Construction and development loans $10,417
    Residential 1-4 family construction $3,006
    Other construction, all land development and other land $7,411
    Loans secured by nonfarm nonresidential properties $165,103
    Nonfarm nonresidential secured by owner-occupied properties $87,172
    Commercial real estate & other non-farm, non-residential $77,931
    Multifamily residential real estate $2,786
    1-4 family residential loans $77,642
    Farmland loans $5,919
    Loans held in foreign offices $0
    Farm loans $188
    Commercial and industrial loans $14,834
    To non-U.S. addressees $0
    Loans to individuals $9,047
    Credit card loans $0
    Related Plans $54
    Consumer Auto Loans $2,618
    Other loans to individuals $6,375
    All other loans & leases $998
    Loans to foreign governments and official institutions $0
    Other loans $118
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Harford Bank had $283,680,000 of loans outstanding in 2019. $261,867,000 of loans were in real estate loans. $10,417,000 of loans were in development loans. $2,786,000 of loans were in multifamily mortgage loans. $77,642,000 of loans were in 1-4 family mortgage loans. $188,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,618,000 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 231 $67,052 $290,268
    Nonfarm, nonresidential loans - <$100k 32 $2,044 $63,875
    Nonfarm, nonresidential loans - $100-250k 57 $7,829 $137,351
    Nonfarm, nonresidential loans - $250k-1MM 142 $57,179 $402,669
    Commercial & Industrial, US addressed loans - <$1MM 249 $14,559 $58,470
    Commercial & Industrial, US addressed loans - <$100k 175 $5,465 $31,229
    Commercial & Industrial, US addressed loans - $100-250k 56 $5,910 $105,536
    Commercial & Industrial, US addressed loans - $250k-1MM 18 $3,184 $176,889
    Farmland loans - <$1MM 4 $465 $116,250
    Farmland loans - <$100k 2 $171 $85,500
    Farmland loans - $100-250k 2 $294 $147,000
    Agriculture operations loans - <$1MM 3 $187 $62,333
    Agriculture operations loans - $100-250k 2 $159 $79,500
    Agriculture operations loans - $250k-1MM 1 $28 $28,000