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

New York, NY

LEI: 254900YLQBQNWLGKOI74

Tax ID: 95-3763643

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Bank Data

Review & Overview

Industrial And Commercial Bank Of China Usa is a smaller bank specializing in Home Purchase and Refi loans. Industrial And Commercial Bank Of China Usa has a high proportion of conventional loans. Their top markets by origination volume include: San Francisco, Los Angeles, New York, San Jose, and Seattle among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Industrial And Commercial Bank Of China Usa 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. Industrial And Commercial Bank Of China Usa is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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Originations

54

Origination Dollar Volume (All Markets)

$55,250,000

Employee count

306

Awards

Industrial and Commercial Bank of China USA 30 Year Conventional Loans bronze
Show all (1) awards

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
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 15 $24,825,000 $1,655,000 $4,478 4.71%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 15 $11,495,000 $766,333 $5,204 4.63%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 7 $7,915,000 $1,130,714 $5,861 4.56%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $4,200,000 $2,100,000 $16,869 4.88%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 3 $2,315,000 $771,667 $4,094 4.83%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 6 $2,260,000 $376,667 $5,537 4.67%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 2 $1,040,000 $520,000 $4,867 4.69%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA|USDA|VA) 2 $450,000 $225,000 $3,093 4.75%
VALLEJO, CA (FHA|USDA|VA) 1 $385,000 $385,000 $2,773 4.75%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $365,000 $365,000 $3,912 4.50%
Industrial And Commercial Bank Of China Usa's top markets include San Francisco, Los Angeles, New York, San Jose, and Seattle among others.

Their top states include:
  • California (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Washington (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Texas (FHA|USDA|VA)
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 54 $55,250,000 $1,023,148 $5,387 4.67%

    For 2018, Industrial And Commercial Bank Of China Usa's most frequently originated type of loan was Conventional, with 54 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 37 $21,775,000 $588,514 $5,038 4.69%
    Refi 9 $23,455,000 $2,606,111 $7,100 4.64%
    Cash Out Refi 7 $9,015,000 $1,287,857 $0 4.60%
    Other 1 $1,005,000 $1,005,000 $3,874 4.88%

    For 2018, Industrial And Commercial Bank Of China Usa's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 43 $29,545,000 $687,093 $5,444 4.72%
    10 Year 7 $21,865,000 $3,123,571 $0 4.70%
    5 Year 2 $2,910,000 $1,455,000 $0 4.00%
    15 Year 1 $195,000 $195,000 $2,935 4.13%
    Other 1 $735,000 $735,000 $0 4.50%

    For 2018, Industrial And Commercial Bank Of China Usa's most frequently cited loan duration was 30 Year, with 43 originations. The 2nd most popular length was 10 Year, with 7 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 38 $22,040,000 $580,000
    $<1k 6 $7,700,000 $1,283,333

    Industrial And Commercial Bank Of China Usa's average total fees were $5,444, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 38 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 49 $35,845,000 $731,531
    3-4% 3 $17,915,000 $5,971,667
    5-6% 2 $1,490,000 $745,000

    During 2018, Industrial And Commercial Bank Of China Usa's average interest rate for loans was 4.72%, while their most frequently originated rate bucket for loans was 4-5%, with 49 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 17 $5,215,000 $306,765 $3,917 4.68%
    $600k-1MM 14 $10,240,000 $731,429 $5,405 4.79%
    $1MM+ 13 $35,115,000 $2,701,154 $9,161 4.62%
    $400k-600k 9 $4,485,000 $498,333 $5,478 4.64%
    $100k-200k 1 $195,000 $195,000 $2,935 4.13%

    2018 saw Industrial And Commercial Bank Of China Usa place emphasis on $200k-400k loans with 17 originations, totaling $5,215,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 15 $13,655,000 $910,333 $6,613 4.78%
    $100k-150k 10 $3,850,000 $385,000 $3,833 4.69%
    $150k-250k 7 $3,415,000 $487,857 $5,629 4.61%
    $50k-75k 3 $645,000 $215,000 $3,040 4.54%
    $75k-100k 2 $580,000 $290,000 $3,429 4.75%

    Industrial And Commercial Bank Of China Usa lent most frequently to those with incomes in the $250k+ range, with 15 originations. The second most popular income band? $100k-150k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 14 $8,540,000 $610,000 $6,140 4.74%
    20-30% 10 $4,750,000 $475,000 $5,155 4.64%
    <20% 4 $2,230,000 $557,500 $4,230 4.72%
    41% 2 $1,210,000 $605,000 $5,051 4.56%
    37% 1 $245,000 $245,000 $3,252 4.75%
    38% 1 $1,975,000 $1,975,000 $4,878 4.88%
    39% 1 $365,000 $365,000 $3,912 4.50%
    40% 1 $195,000 $195,000 $2,935 4.13%
    36% 1 $375,000 $375,000 $2,948 4.75%

    Industrial And Commercial Bank Of China Usa lent most frequently to those with DTI ratios of 30-36%, with 14 originations. The next most common DTI ratio? 20-30%, with 10 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 44 $29,740,000 $675,909 $5,387 4.70%
    Not applicable 8 $23,250,000 $2,906,250 $0 4.41%
    White 1 $1,505,000 $1,505,000 $0 4.90%
    Chinese 1 $755,000 $755,000 $0 5.25%

    Approval Rates

    Total approvals of all applications
    98.88%

    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
    48.15%

    Industrial And Commercial Bank Of China Usa has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 54 $55,250,000 $1,023,148

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $24,405,000 $2,711,667
    Single Family (1-4 Units):Site-Built 45 $30,845,000 $685,444

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $6,120,000 $765,000 $3,477 4.64%
    40-60% 16 $16,610,000 $1,038,125 $7,063 4.74%
    60-80% 30 $32,520,000 $1,084,000 $4,729 4.65%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Integrity First Financial Group VA 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 1001 Grant Avenue San Francisco, CA 94133 Full Service B&M $248,182
    Industrial and Commercial Bank of China USA, National Association 1250 Noriega Street San Francisco, CA 94122 Full Service B&M $105,066
    Industrial and Commercial Bank of China USA, National Association 1633 Broadway New York, NY 10019 Full Service B&M $351,265
    Industrial and Commercial Bank of China USA, National Association 168 West Valley Boulevard San Gabriel, CA 91776 Full Service B&M $66,146
    Industrial and Commercial Bank of China USA, National Association 17180 Colima Road Hacienda Heights, CA 91745 Full Service B&M $89,823
    Industrial and Commercial Bank of China USA, National Association 202 Canal Street New York, NY 10013 Full Service B&M $212,665
    Industrial and Commercial Bank of China USA, National Association 23133 Hawthorne Boulevard. Suite 100 Torrance, CA 90505 Full Service B&M $74,121
    Industrial and Commercial Bank of China USA, National Association 235 Grand Avenue, Suite 101 South San Francisco, CA 94080 Full Service B&M $110,875
    Industrial and Commercial Bank of China USA, National Association 388 East Valley Boulevard, Suite 118 Alhambra, CA 91801 Full Service B&M $266,489
    Industrial and Commercial Bank of China USA, National Association 39-02 Main Street Flushing, NY 11354 Full Service B&M $154,595
    Industrial and Commercial Bank of China USA, National Association 401 Ninth Street Oakland, CA 94607 Full Service B&M $116,987
    Industrial and Commercial Bank of China USA, National Association 5714 8th Avenue (At 57th Street) Brooklyn, NY 11220 Full Service B&M $53,693
    Industrial and Commercial Bank of China USA, National Association 5773 Rosemead Boulevard Temple City, CA 91780 Full Service B&M $104,745
    Industrial and Commercial Bank of China USA, National Association 622 Clement Street San Francisco, CA 94118 Full Service B&M $92,218

    For 2018, Industrial And Commercial Bank Of China Usa had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $109,266
    Net interest income $83,314
    Total noninterest income $11,320
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $672
    Trading account gains and fees $0
    Additional Noninterest Income $10,648
    Pre-tax net operating income $32,528
    Securities gains (or losses, -) $0
    Income before extraordinary items $22,678
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $22,678
    Minority interest net income $0
    Net income $22,678
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $22,678

    Industrial And Commercial Bank Of China Usa's gross interest income from loans was $109,266,000.
    Industrial And Commercial Bank Of China Usa's net interest income from loans was $83,314,000.
    Industrial And Commercial Bank Of China Usa's fee based income from loans was $672,000.
    Industrial And Commercial Bank Of China Usa's net income from loans was $22,678,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $25,952
    Provision for credit losses $5,507
    Total noninterest expense $56,599
    Salaries and employee benefits $34,994
    Premises and equipment expense $11,196
    Additional noninterest expense $10,409
    Applicable income taxes $9,850
    Net charge-offs $742
    Cash dividends $0

    Industrial And Commercial Bank Of China Usa's interest expense for loans was $25,952,000.
    Industrial And Commercial Bank Of China Usa's payroll and benefits expense were $34,994,000.
    Industrial And Commercial Bank Of China Usa's property, plant and equipment expenses $11,196,000.

    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 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 $2,248,361
    Deposits held in domestic offices $2,248,361
    Deposits by Individuals, partnerships, and corporations $2,178,603
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $593
    Deposits by Commercial banks and other depository institutions in U.S. $69,165
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $473,731
    Demand deposits $425,235
    Nontransaction accounts $1,774,630
    Money market deposit accounts (MMDAs) $470,995
    Other savings deposits (excluding MMDAs) $148,326
    Total time deposits $1,155,309
    Total time and savings deposits $1,823,126
    Noninterest-bearing deposits $425,269
    Interest-bearing deposits $1,823,092
    Retail deposits $1,673,756
    IRAs and Keogh plan accounts $30,446
    Brokered deposits $361,253
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,886,641
    Cash & Balances due from depository institutions $288,290
    Interest-bearing balances $273,209
    Total securities $15,782
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,484,908
    Loan and leases loss allowance $15,906
    Trading account assets $0
    Bank premises and fixed assets $2,099
    Other real estate owned $0
    Goodwill and other intangibles $55,197
    All other assets $40,365

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,886,641
    Total Liabilities $2,470,296
    Total deposits $2,248,361
    Interest-bearing deposits $1,823,092
    Deposits held in domestic offices $2,248,361
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $190,000
    Subordinated debt $0
    All other liabilities $31,935

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,484,908
    Loan and leases loss allowance $15,906
    Total loans and leases (domestic) $2,500,814
    All real estate loans $1,735,806
    Real estate loans in domestic offices $1,735,806
    Construction and development loans $221,456
    Residential 1-4 family construction $0
    Other construction, all land development and other land $221,456
    Loans secured by nonfarm nonresidential properties $1,263,184
    Nonfarm nonresidential secured by owner-occupied properties $211,772
    Commercial real estate & other non-farm, non-residential $1,051,412
    Multifamily residential real estate $64,023
    1-4 family residential loans $187,143
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $703,137
    To non-U.S. addressees $29,901
    Loans to individuals $1,039
    Credit card loans $1,039
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $0
    All other loans & leases $60,832
    Loans to foreign governments and official institutions $0
    Other loans $70
    Loans to depository institutions and acceptances of other banks $60,762
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $124,428
    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 $2,484,908,000 of loans outstanding in 2018. $1,735,806,000 of loans were in real estate loans. $221,456,000 of loans were in development loans. $64,023,000 of loans were in multifamily mortgage loans. $187,143,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,039,000 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 106 $55,704 $525,509
    Nonfarm, nonresidential loans - $100-250k 4 $747 $186,750
    Nonfarm, nonresidential loans - $250k-1MM 102 $54,957 $538,794
    Commercial & Industrial, US addressed loans - <$1MM 1 $496 $496,000
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $496 $496,000