Industrial And Commercial Bank Of China Usa Mortgage Rates, Fees & Info

New York, NY

LEI: 254900YLQBQNWLGKOI74

Tax ID: 95-3763643

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Industrial And Commercial Bank Of China Usa is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Industrial And Commercial Bank Of China Usa has a high proportion of conventional loans. Their top markets include Los Angeles, New York, San Francisco, San Jose, and Seattle among others. Industrial And Commercial Bank Of China Usa has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

235

Origination Dollar Volume (All Markets)

$194,725,000

Employee count

296

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 61 $65,345,000 $1,071,230 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 59 $51,485,000 $872,627 $0 0.00%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 53 $41,805,000 $788,774 $0 0.00%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 12 $9,350,000 $779,167 $0 0.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 8 $7,800,000 $975,000 $0 0.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 13 $4,845,000 $372,692 $0 0.00%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 2 $4,020,000 $2,010,000 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 11 $3,895,000 $354,091 $0 0.00%
STOCKTON, CA (FHA|USDA|VA) 4 $1,430,000 $357,500 $0 0.00%
VALLEJO, CA (FHA|USDA|VA) 2 $930,000 $465,000 $0 0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $925,000 $925,000 $0 0.00%
MERCED, CA (FHA|USDA|VA) 2 $660,000 $330,000 $0 0.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $645,000 $645,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 2 $390,000 $195,000 $0 0.00%
VISALIA, CA (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%

Industrial And Commercial Bank Of China Usa's top markets include Los Angeles, New York, San Francisco, San Jose, and Seattle among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 235 $194,725,000 $828,617 $0 0.00%

For the 2021 period, Industrial And Commercial Bank Of China Usa's most frequently originated loan type of loans were Conventional, with 235 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 120 $85,100,000 $709,167 $0 0.00%
Cash Out Refi 78 $86,090,000 $1,103,718 $0 0.00%
Refi 34 $22,510,000 $662,059 $0 0.00%
Home Improvement 3 $1,025,000 $341,667 $0 0.00%

For the 2021, Industrial And Commercial Bank Of China Usa's most frequently cited loan purpose of loans were Home Purchase, with 120 originations. The 2nd most popular reason of loans were Cash Out Refi, with 78 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 235 $194,725,000 $828,617 $0 0.00%

For the 2021, Industrial And Commercial Bank Of China Usa's most frequently cited loan length of loans were Other, with 235 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$600k-1MM 76 $57,400,000 $755,263 $0 0.00%
$400k-600k 65 $31,555,000 $485,462 $0 0.00%
$1MM+ 45 $91,665,000 $2,037,000 $0 0.00%
$200k-400k 43 $13,205,000 $307,093 $0 0.00%
$100k-200k 5 $815,000 $163,000 $0 0.00%
$100,000 or less 1 $85,000 $85,000 $0 0.00%

2021 saw Industrial And Commercial Bank Of China Usa place emphasis on $600k-1MM loans with 76 originations, totaling $57,400,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 14 $10,020,000 $715,714 $0 0.00%
$150k-250k 5 $2,945,000 $589,000 $0 0.00%
$100k-150k 3 $1,265,000 $421,667 $0 0.00%
$50k-75k 1 $125,000 $125,000 $0 0.00%

Industrial And Commercial Bank Of China Usa lent most frequently to those with incomes in the $250k+ range, with 14 originations. The second most popular income band? $150k-250k, with 5 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 235 $194,725,000 $828,617 $0 0.00%

Industrial And Commercial Bank Of China Usa lent most frequently to those with DTI ratios of Exempt%, with 235 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Asian 198 $138,140,000 $697,677 $0 0.00%
Not applicable 11 $33,635,000 $3,057,727 $0 0.00%
White 23 $21,025,000 $914,130 $0 0.00%
Not provided 2 $1,060,000 $530,000 $0 0.00%
Other Pacific Islander 1 $865,000 $865,000 $0 0.00%

Approval Rates

Total approvals of all applications
99.32%

Industrial And Commercial Bank Of China Usa has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
70.83%

Industrial And Commercial Bank Of China Usa has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 235 $194,725,000 $828,617

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
235 $194,725,000 $828,617

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
INTEGRITY CREDIT CORPORATION Conventional home mortgage Closing on a mortgage 1 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Industrial and Commercial Bank of China Usa, National Association 1250 Noriega Street San Francisco, CA 94122 Full Service B&M $85,202
Industrial and Commercial Bank of China Usa, National Association 1001 Grant Avenue San Francisco, CA 94133 Full Service B&M $235,020
Industrial and Commercial Bank of China Usa, National Association 1185 Avenue Of The Americas New York, NY 10036 Full Service B&M $754,268
Industrial and Commercial Bank of China Usa, National Association 5773 Rosemead Boulevard Temple City, CA 91780 Full Service B&M $65,766
Industrial and Commercial Bank of China Usa, National Association 622 Clement Street San Francisco, CA 94118 Full Service B&M $54,325
Industrial and Commercial Bank of China Usa, National Association 168 West Valley Boulevard San Gabriel, CA 91776 Full Service B&M $40,285
Industrial and Commercial Bank of China Usa, National Association 17180 Colima Road Hacienda Heights, CA 91745 Full Service B&M $159,565
Industrial and Commercial Bank of China Usa, National Association 202 Canal Street New York, NY 10013 Full Service B&M $247,107
Industrial and Commercial Bank of China Usa, National Association 23133 Hawthorne Boulevard. Suite 100 Torrance, CA 90505 Full Service B&M $51,254
Industrial and Commercial Bank of China Usa, National Association 235 Grand Avenue, Suite 101 South San Francisco, CA 94080 Full Service B&M $104,269
Industrial and Commercial Bank of China Usa, National Association 388 East Valley Boulevard, Suite 118 Alhambra, CA 91801 Full Service B&M $201,126
Industrial and Commercial Bank of China Usa, National Association 39-02 Main Street Flushing, NY 11354 Full Service B&M $172,836
Industrial and Commercial Bank of China Usa, National Association 401 Ninth Street Oakland, CA 94607 Full Service B&M $94,597
Industrial and Commercial Bank of China Usa, National Association 5714 8th Avenue (At 57th Street) Brooklyn, NY 11220 Full Service B&M $66,427

For 2021, Industrial And Commercial Bank Of China Usa had 14 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $95,843
Net interest income $78,666
Total noninterest income $7,451
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,100
Trading account gains and fees $0
Additional Noninterest Income $6,351
Pre-tax net operating income $21,731
Securities gains (or losses, -) $0
Income before extraordinary items $14,527
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $14,527
Minority interest net income $0
Net income $14,527
Sale, conversion, retirement of capital stock, net $0
Net operating income $14,527

Industrial And Commercial Bank Of China Usa's gross interest income from loans was $95,843,000.
Industrial And Commercial Bank Of China Usa's net interest income from loans was $78,666,000.
Industrial And Commercial Bank Of China Usa's fee based income from loans was $1,100,000.
Industrial And Commercial Bank Of China Usa's net income from loans was $14,527,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $17,177
Provision for credit losses $2,000
Total noninterest expense $62,386
Salaries and employee benefits $37,833
Premises and equipment expense $12,935
Additional noninterest expense $11,618
Applicable income taxes $7,204
Net charge-offs $1,591
Cash dividends $0

Industrial And Commercial Bank Of China Usa's interest expense for loans was $17,177,000.
Industrial And Commercial Bank Of China Usa's payroll and benefits expense were $37,833,000.
Industrial And Commercial Bank Of China Usa's property, plant and equipment expenses $12,935,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 1.0%
Real Estate loans 2.0%
Construction & Land Development loans 14.0%
Nonfarm, nonresidential loans 1.0%
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 $2,326,058
Deposits held in domestic offices $2,326,058
Deposits by Individuals, partnerships, and corporations $2,319,446
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $369
Deposits by Commercial banks and other depository institutions in U.S. $6,243
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $527,771
Demand deposits $471,456
Nontransaction accounts $1,798,287
Money market deposit accounts (MMDAs) $504,268
Other savings deposits (excluding MMDAs) $198,502
Total time deposits $1,095,517
Total time and savings deposits $1,854,602
Noninterest-bearing deposits $471,423
Interest-bearing deposits $1,854,635
Retail deposits $1,513,204
IRAs and Keogh plan accounts $35,591
Brokered deposits $713,126
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,991,239
Cash & Balances due from depository institutions $278,619
Interest-bearing balances $273,590
Total securities $9,224
Federal funds sold & reverse repurchase $0
Net loans and leases $2,601,037
Loan and leases loss allowance $31,587
Trading account assets $0
Bank premises and fixed assets $54,637
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $47,722

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,991,239
Total Liabilities $2,584,340
Total deposits $2,326,058
Interest-bearing deposits $1,854,635
Deposits held in domestic offices $2,326,058
% insured (estimated) $71
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $130,000
Subordinated debt $0
All other liabilities $128,282

Issued Loan Types

Type Value (in 000's)
Net loans and leases $2,601,037
Loan and leases loss allowance $31,587
Total loans and leases (domestic) $2,632,624
All real estate loans $1,695,775
Real estate loans in domestic offices $1,695,775
Construction and development loans $152,601
Residential 1-4 family construction $0
Other construction, all land development and other land $152,601
Loans secured by nonfarm nonresidential properties $1,012,124
Nonfarm nonresidential secured by owner-occupied properties $130,494
Commercial real estate & other non-farm, non-residential $881,630
Multifamily residential real estate $102,882
1-4 family residential loans $428,168
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $931,688
To non-U.S. addressees $0
Loans to individuals $804
Credit card loans $804
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $0
All other loans & leases $4,357
Loans to foreign governments and official institutions $0
Other loans $2
Loans to depository institutions and acceptances of other banks $4,355
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $126,857
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Industrial and Commercial Bank of China USA had $2,601,037,000 of loans outstanding in 2021. $1,695,775,000 of loans were in real estate loans. $152,601,000 of loans were in development loans. $102,882,000 of loans were in multifamily mortgage loans. $428,168,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $804,000 of loans were in credit card loans. $0 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 45 $25,230 $560,667
Nonfarm, nonresidential loans - $100-250k 1 $180 $180,000
Nonfarm, nonresidential loans - $250k-1MM 44 $25,050 $569,318
Commercial & Industrial, US addressed loans - <$1MM 1 $632 $632,000
Commercial & Industrial, US addressed loans - $250k-1MM 1 $632 $632,000