Harford Bank Mortgage Rates, Fees & Info

Aberdeen, MD

LEI: 254900W5FH4XO4DKJB28

Tax ID: 52-0799113

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 Home Purchase and Refi loans. Harford Bank has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, Philadelphia, Salisbury, and Ocean City among others. We have data for 5 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

    79

    Origination Dollar Volume (All Markets)

    $21,865,000

    Employee count

    81

    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) 55 $14,725,000 $267,727 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 20 $4,990,000 $249,500 $0 0.00%
    Outside of Metro Areas 1 $1,005,000 $1,005,000 $0 0.00%
    SALISBURY, MD-DE (FHA|USDA|VA) 2 $780,000 $390,000 $0 0.00%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
    Harford Bank's top markets include Baltimore, Philadelphia, Salisbury, and Ocean City among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 79 $21,865,000 $276,772 $0 0.00%

    For 2021, Harford Bank's most frequently originated type of loan was Conventional, with 79 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 37 $9,335,000 $252,297 $0 0.00%
    Refi 26 $9,610,000 $369,615 $0 0.00%
    Cash Out Refi 12 $2,710,000 $225,833 $0 0.00%
    Home Improvement 3 $195,000 $65,000 $0 0.00%
    Other 1 $15,000 $15,000 $0 0.00%

    For 2021, Harford Bank's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Refi, with 26 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 79 $21,865,000 $276,772 $0 0.00%

    For 2021, Harford Bank's most frequently cited loan duration was Other, with 79 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 26 $4,030,000 $155,000 $0 0.00%
    $100,000 or less 22 $1,400,000 $63,636 $0 0.00%
    $200k-400k 14 $4,480,000 $320,000 $0 0.00%
    $400k-600k 8 $3,460,000 $432,500 $0 0.00%
    $600k-1MM 7 $5,485,000 $783,571 $0 0.00%
    $1MM+ 2 $3,010,000 $1,505,000 $0 0.00%

    2021 saw Harford Bank place emphasis on $100k-200k loans with 26 originations, totaling $4,030,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 16 $8,710,000 $544,375 $0 0.00%
    $100k-150k 8 $1,190,000 $148,750 $0 0.00%
    $150k-250k 8 $2,440,000 $305,000 $0 0.00%
    $75k-100k 8 $1,500,000 $187,500 $0 0.00%
    $50k or less 7 $625,000 $89,286 $0 0.00%
    $50k-75k 5 $315,000 $63,000 $0 0.00%

    Harford Bank lent most frequently to those with incomes in the $250k+ range, with 16 originations. The second most popular income band? $100k-150k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 79 $21,865,000 $276,772 $0 0.00%

    Harford Bank lent most frequently to those with DTI ratios of Exempt%, with 79 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 39 $11,785,000 $302,179 $0 0.00%
    Not applicable 27 $7,085,000 $262,407 $0 0.00%
    Asian 4 $1,350,000 $337,500 $0 0.00%
    Black 3 $835,000 $278,333 $0 0.00%
    Not provided 6 $810,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    79.46%

    Harford Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    87.34%

    Harford Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 79 $21,865,000 $276,772

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    79 $21,865,000 $276,772

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    HARBORONE MORTGAGE, LLC Conventional home mortgage Closing on a mortgage 1 33.3%
    HARBORONE MORTGAGE, LLC Other type of mortgage Trouble during payment process 1 33.3%
    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 $35,628
    Harford Bank 1610 Conowingo Road Bel Air, MD 21014 Full Service B&M $49,675
    Harford Bank 2905 Emmorton Road, Space #1 Abingdon, MD 21009 Full Service B&M $20,396
    Harford Bank 305 Augustine Herman Highway Elkton, MD 21921 Full Service B&M $7,856
    Harford Bank 501 Riviera Drive Joppatowne, MD 21085 Full Service B&M $45,209
    Harford Bank 505 South Main Street Bel Air, MD 21014 Full Service B&M $96,653
    Harford Bank 545 Marketplace Drive Bel Air, MD 21014 Full Service B&M $40,954
    Harford Bank 8 West Bel Air Avenue Aberdeen, MD 21001 Full Service B&M $128,561
    Harford Bank 960 Revolution Street Havre De Grace, MD 21078 Full Service B&M $43,998

    For 2021, Harford Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,141
    Net interest income $17,592
    Total noninterest income $1,965
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $565
    Trading account gains and fees $0
    Additional Noninterest Income $1,400
    Pre-tax net operating income $7,199
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,341
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,341
    Minority interest net income $0
    Net income $5,341
    Sale, conversion, retirement of capital stock, net $480
    Net operating income $5,341

    Harford Bank's gross interest income from loans was $19,141,000.
    Harford Bank's net interest income from loans was $17,592,000.
    Harford Bank's fee based income from loans was $565,000.
    Harford Bank's net income from loans was $5,341,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,549
    Provision for credit losses $0
    Total noninterest expense $12,358
    Salaries and employee benefits $6,992
    Premises and equipment expense $1,441
    Additional noninterest expense $3,925
    Applicable income taxes $1,858
    Net charge-offs $36
    Cash dividends $1,470

    Harford Bank's interest expense for loans was $1,549,000.
    Harford Bank's payroll and benefits expense were $6,992,000.
    Harford Bank's property, plant and equipment expenses $1,441,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 3.0%
    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 $522,324
    Deposits held in domestic offices $522,324
    Deposits by Individuals, partnerships, and corporations $486,316
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $36,008
    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 $98,728
    Demand deposits $93,345
    Nontransaction accounts $423,596
    Money market deposit accounts (MMDAs) $75,537
    Other savings deposits (excluding MMDAs) $239,961
    Total time deposits $108,098
    Total time and savings deposits $428,979
    Noninterest-bearing deposits $153,557
    Interest-bearing deposits $368,767
    Retail deposits $473,071
    IRAs and Keogh plan accounts $12,900
    Brokered deposits $9,870
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $575,175
    Cash & Balances due from depository institutions $85,263
    Interest-bearing balances $81,465
    Total securities $105,891
    Federal funds sold & reverse repurchase $0
    Net loans and leases $363,021
    Loan and leases loss allowance $5,080
    Trading account assets $0
    Bank premises and fixed assets $10,168
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $10,832

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $575,175
    Total Liabilities $525,628
    Total deposits $522,324
    Interest-bearing deposits $368,767
    Deposits held in domestic offices $522,324
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,304

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $363,021
    Loan and leases loss allowance $5,080
    Total loans and leases (domestic) $368,101
    All real estate loans $318,335
    Real estate loans in domestic offices $318,335
    Construction and development loans $13,597
    Residential 1-4 family construction $1,946
    Other construction, all land development and other land $11,651
    Loans secured by nonfarm nonresidential properties $190,931
    Nonfarm nonresidential secured by owner-occupied properties $97,144
    Commercial real estate & other non-farm, non-residential $93,787
    Multifamily residential real estate $4,935
    1-4 family residential loans $101,142
    Farmland loans $7,730
    Loans held in foreign offices $0
    Farm loans $36
    Commercial and industrial loans $35,380
    To non-U.S. addressees $0
    Loans to individuals $7,754
    Credit card loans $0
    Related Plans $34
    Consumer Auto Loans $2,338
    Other loans to individuals $5,382
    All other loans & leases $6,596
    Loans to foreign governments and official institutions $0
    Other loans $52
    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 $363,021,000 of loans outstanding in 2021. $318,335,000 of loans were in real estate loans. $13,597,000 of loans were in development loans. $4,935,000 of loans were in multifamily mortgage loans. $101,142,000 of loans were in 1-4 family mortgage loans. $36,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,338,000 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 251 $69,002 $274,908
    Nonfarm, nonresidential loans - <$100k 29 $992 $34,207
    Nonfarm, nonresidential loans - $100-250k 65 $7,321 $112,631
    Nonfarm, nonresidential loans - $250k-1MM 157 $60,689 $386,554
    Commercial & Industrial, US addressed loans - <$1MM 212 $11,998 $56,594
    Commercial & Industrial, US addressed loans - <$100k 145 $3,999 $27,579
    Commercial & Industrial, US addressed loans - $100-250k 46 $3,812 $82,870
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $4,187 $199,381
    Farmland loans - <$1MM 5 $693 $138,600
    Farmland loans - <$100k 2 $160 $80,000
    Farmland loans - $100-250k 2 $272 $136,000
    Farmland loans - $250k-1MM 1 $261 $261,000
    Agriculture operations loans - <$1MM 1 $36 $36,000
    Agriculture operations loans - <$100k 1 $36 $36,000