Shore United Bank Mortgage Rates, Fees & Info
Easton, MD
LEI: 54930009M8OIJWECQX81
Tax ID: 52-0267925
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Mortgage Data
Bank Data
Overview
Shore United Bank is a
smaller
bank
specializing in
Home Purchase and Refi loans.
Shore United Bank has a high proportion of conventional loans.
They have a a low proportion of FHA loans. (This may mean they shy away from
first time homebuyers.)
They have a low ratio of USDA loans.
Their top markets include Baltimore, Easton, Washington, Salisbury, and Philadelphia among others. Shore United 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.
Originations
424
Origination Dollar Volume (All Markets)
$182,500,000
Employee count
454
Top Markets
Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA)
|
83
|
$43,655,000 |
$525,964 |
$0 |
0.00% |
Easton, MD (FHA|USDA|VA)
|
78
|
$39,680,000 |
$508,718 |
$0 |
0.00% |
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)
|
67
|
$32,185,000 |
$480,373 |
$0 |
0.00% |
SALISBURY, MD-DE (FHA|USDA|VA)
|
39
|
$16,655,000 |
$427,051 |
$0 |
0.00% |
Outside of Metro Areas
|
59 |
$15,555,000 |
$263,644 |
$0 |
0.00% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)
|
8
|
$10,510,000 |
$1,313,750 |
$0 |
0.00% |
DOVER, DE (FHA|USDA|VA)
|
45
|
$9,955,000 |
$221,222 |
$0 |
0.00% |
Cambridge, MD (FHA|USDA|VA)
|
15
|
$3,635,000 |
$242,333 |
$0 |
0.00% |
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA)
|
12
|
$3,200,000 |
$266,667 |
$0 |
0.00% |
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA)
|
6
|
$2,810,000 |
$468,333 |
$0 |
0.00% |
YORK-HANOVER, PA (FHA|USDA|VA)
|
3
|
$975,000 |
$325,000 |
$0 |
0.00% |
Key West, FL (FHA|USDA|VA)
|
1
|
$795,000 |
$795,000 |
$0 |
0.00% |
PORT ST. LUCIE, FL (FHA|USDA|VA)
|
1
|
$535,000 |
$535,000 |
$0 |
0.00% |
KINGSTON, NY (FHA|USDA|VA)
|
1
|
$505,000 |
$505,000 |
$0 |
0.00% |
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA)
|
1
|
$455,000 |
$455,000 |
$0 |
0.00% |
CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA)
|
1
|
$455,000 |
$455,000 |
$0 |
0.00% |
CHARLOTTESVILLE, VA (FHA|USDA|VA)
|
1
|
$365,000 |
$365,000 |
$0 |
0.00% |
EAST STROUDSBURG, PA (FHA|USDA|VA)
|
1
|
$225,000 |
$225,000 |
$0 |
0.00% |
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)
|
1
|
$175,000 |
$175,000 |
$0 |
0.00% |
GETTYSBURG, PA (FHA|USDA|VA)
|
1
|
$175,000 |
$175,000 |
$0 |
0.00% |
Shore United Bank's top markets include Baltimore, Easton, Washington, Salisbury, and Philadelphia among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
394 |
$173,390,000 |
$440,076 |
$0 |
0.00% |
FHA |
20 |
$5,110,000 |
$255,500 |
$0 |
0.00% |
VA |
7 |
$3,265,000 |
$466,429 |
$0 |
0.00% |
USDA |
3 |
$735,000 |
$245,000 |
$0 |
0.00% |
For the 2021 period, Shore United Bank's most frequently
originated loan type
of loans were Conventional, with 394 originations.
Their 2nd most popular type is FHA,
with 20 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Home Purchase |
249 |
$106,225,000 |
$426,606 |
$0 |
0.00% |
Refi |
108 |
$49,080,000 |
$454,444 |
$0 |
0.00% |
Cash Out Refi |
36 |
$12,710,000 |
$353,056 |
$0 |
0.00% |
Other |
20 |
$5,080,000 |
$254,000 |
$0 |
0.00% |
Home Improvement |
11 |
$9,405,000 |
$855,000 |
$0 |
0.00% |
For the 2021, Shore United Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 249
originations.
The 2nd most popular reason of loans were Refi,
with 108 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Other |
424 |
$182,500,000 |
$430,425 |
$0 |
0.00% |
For the 2021, Shore United Bank's most frequently cited loan
length
of loans were Other, with 424 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$200k-400k |
174 |
$50,010,000 |
$287,414 |
$0 |
0.00% |
$100k-200k |
88 |
$13,620,000 |
$154,773 |
$0 |
0.00% |
$400k-600k |
58 |
$29,030,000 |
$500,517 |
$0 |
0.00% |
$600k-1MM |
41 |
$31,015,000 |
$756,463 |
$0 |
0.00% |
$100,000 or less |
38 |
$2,440,000 |
$64,211 |
$0 |
0.00% |
$1MM+ |
25 |
$56,385,000 |
$2,255,400 |
$0 |
0.00% |
2021 saw Shore United Bank place emphasis on
$200k-400k loans
with 174 originations, totaling
$50,010,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$250k+ |
69 |
$53,865,000 |
$780,652 |
$0 |
0.00% |
$100k-150k |
66 |
$22,250,000 |
$337,121 |
$0 |
0.00% |
$150k-250k |
66 |
$26,680,000 |
$404,242 |
$0 |
0.00% |
$50k-75k |
61 |
$12,655,000 |
$207,459 |
$0 |
0.00% |
$75k-100k |
50 |
$14,420,000 |
$288,400 |
$0 |
0.00% |
$50k or less |
34 |
$5,230,000 |
$153,824 |
$0 |
0.00% |
Shore United Bank lent most frequently to those with incomes in the
$250k+ range, with
69 originations.
The second most popular income band? $100k-150k,
with 66 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Exempt% |
424 |
$182,500,000 |
$430,425 |
$0 |
0.00% |
Shore United Bank lent most frequently to those with DTI ratios
of Exempt%, with
424 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
White |
293 |
$110,195,000 |
$376,092 |
$0 |
0.00% |
Not applicable |
61 |
$43,465,000 |
$712,541 |
$0 |
0.00% |
Not provided |
51 |
$19,565,000 |
$383,627 |
$0 |
0.00% |
Black |
11 |
$7,065,000 |
$642,273 |
$0 |
0.00% |
Asian |
4 |
$930,000 |
$232,500 |
$0 |
0.00% |
Other Asian |
2 |
$700,000 |
$350,000 |
$0 |
0.00% |
American Indian |
2 |
$580,000 |
$290,000 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
86.03%
Shore United Bank has an average approval rate.
Pick Rate
Approvals leading to origination
75.78%
Shore United Bank has a below average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
Exempt |
424 |
$182,500,000 |
$430,425 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
424 |
$182,500,000 |
$430,425 |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
Shore United Bank |
1013 S. Talbot Street St. Michaels, MD 21663 |
Full Service B&M
|
$129,515 |
Shore United Bank |
109 N. Commerce Street Centreville, MD 21617 |
Full Service B&M
|
$165,475 |
Shore United Bank |
1101 Maiden Choice Lane Baltimore, MD 21229 |
Full Service B&M
|
$143,597 |
Shore United Bank |
120 Main Street Felton, DE 19943 |
Full Service B&M
|
$66,410 |
Shore United Bank |
12905b Ocean Gateway Ocean City, MD 21842 |
Full Service B&M
|
$30,223 |
Shore United Bank |
18 Dover Street Easton, MD 21601 |
Full Service B&M
|
$447,741 |
Shore United Bank |
202 Pullman Crossing Grasonville, MD 21638 |
Full Service B&M
|
$28,839 |
Shore United Bank |
210 Marlboro Road Easton, MD 21601 |
Full Service B&M
|
$128,028 |
Shore United Bank |
22151 Wes Street Ridgely, MD 21660 |
Full Service B&M
|
$40,397 |
Shore United Bank |
25306 Lankford Hwy Onley, VA 23418 |
Full Service B&M
|
$10,860 |
Shore United Bank |
2609 Centreville Road Centreville, MD 21617 |
Full Service B&M
|
$46,896 |
Shore United Bank |
300 Castle Marina Road Chester, MD 21619 |
Full Service B&M
|
$38,154 |
Shore United Bank |
408 Thompson Creek Road Stevensville, MD 21666 |
Full Service B&M
|
$104,966 |
Shore United Bank |
424 Dorchester Avenue Cambridge, MD 21613 |
Full Service B&M
|
$39,174 |
Shore United Bank |
4580 S Dupont Hwy Camden, DE 19934 |
Full Service B&M
|
$31,094 |
Shore United Bank |
6050 Marshalee Drive Elkridge, MD 21075 |
Full Service B&M
|
$44,834 |
Shore United Bank |
698a North Dupont Highway Milford, DE 19963 |
Full Service B&M
|
$41,686 |
Shore United Bank |
800 S. Governors Avenue Dover, DE 19904 |
Full Service B&M
|
$52,851 |
Shore United Bank |
8275 Elliott Road Easton, MD 21601 |
Full Service B&M
|
$95,299 |
Shore United Bank |
850 South 5th Ave Denton, MD 21629 |
Full Service B&M
|
$73,898 |
Shore United Bank |
899 Washington Avenue Chestertown, MD 21620 |
Full Service B&M
|
$77,328 |
Shore United Bank |
9612 Reisterstown Road Owings Mills, MD 21117 |
Full Service B&M
|
$54,226 |
For 2021, Shore United Bank had 22 branches.
Yearly Performance Overview
Bank Income
Shore United Bank's gross interest income from loans was $70,169,000.
Shore United Bank's net interest income from loans was $65,690,000.
Shore United Bank's fee based income from loans was $3,638,000.
Shore United Bank's net income from loans was $18,764,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$4,479 |
Provision for credit losses |
$-358 |
Total noninterest expense |
$53,446 |
Salaries and employee benefits |
$31,121 |
Premises and equipment expense |
$5,566 |
Additional noninterest expense |
$16,759 |
Applicable income taxes |
$7,031 |
Net charge-offs |
$-414 |
Cash dividends |
$25,000 |
Shore United Bank's interest expense for loans was $4,479,000.
Shore United Bank's payroll and benefits expense were $31,121,000.
Shore United Bank's property, plant and equipment expenses $5,566,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$3,040,485 |
Deposits held in domestic offices |
$3,040,485 |
Deposits by Individuals, partnerships, and corporations |
$2,976,362 |
Deposits by U.S. Government |
$132 |
Deposits by States and political subdivisions in the U.S. |
$63,991 |
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 |
$1,599,242 |
Demand deposits |
$1,599,242 |
Nontransaction accounts |
$1,441,243 |
Money market deposit accounts (MMDAs) |
$686,244 |
Other savings deposits (excluding MMDAs) |
$295,435 |
Total time deposits |
$459,565 |
Total time and savings deposits |
$1,441,243 |
Noninterest-bearing deposits |
$1,074,212 |
Interest-bearing deposits |
$1,966,273 |
Retail deposits |
$2,964,460 |
IRAs and Keogh plan accounts |
$90,310 |
Brokered deposits |
$0 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$3,458,367 |
Cash & Balances due from depository institutions |
$583,613 |
Interest-bearing balances |
$566,694 |
Total securities |
$522,949 |
Federal funds sold & reverse repurchase |
$0 |
Net loans and leases |
$2,141,658 |
Loan and leases loss allowance |
$13,944 |
Trading account assets |
$0 |
Bank premises and fixed assets |
$62,810 |
Other real estate owned |
$532 |
Goodwill and other intangibles |
$71,163 |
All other assets |
$75,642 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$3,458,367 |
Total Liabilities |
$3,083,251 |
Total deposits |
$3,040,485 |
Interest-bearing deposits |
$1,966,273 |
Deposits held in domestic offices |
$3,040,485 |
% insured (estimated) |
$68 |
Federal funds purchased and repurchase agreements |
$4,143 |
Trading liabilities |
$0 |
Other borrowed funds |
$21,522 |
Subordinated debt |
$0 |
All other liabilities |
$17,101 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$2,141,658 |
Loan and leases loss allowance |
$13,944 |
Total loans and leases (domestic) |
$2,155,602 |
All real estate loans |
$1,826,778 |
Real estate loans in domestic offices |
$1,826,778 |
Construction and development loans |
$240,708 |
Residential 1-4 family construction |
$80,648 |
Other construction, all land development and other land |
$160,060 |
Loans secured by nonfarm nonresidential properties |
$867,252 |
Nonfarm nonresidential secured by owner-occupied properties |
$318,232 |
Commercial real estate & other non-farm, non-residential |
$549,020 |
Multifamily residential real estate |
$86,318 |
1-4 family residential loans |
$603,522 |
Farmland loans |
$28,978 |
Loans held in foreign offices |
$0 |
Farm loans |
$902 |
Commercial and industrial loans |
$179,832 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$125,447 |
Credit card loans |
$0 |
Related Plans |
$1,616 |
Consumer Auto Loans |
$50,286 |
Other loans to individuals |
$73,545 |
All other loans & leases |
$22,643 |
Loans to foreign governments and official institutions |
$0 |
Other loans |
$116 |
Loans to depository institutions and acceptances of other banks |
$20,000 |
Loans not secured by real estate |
$13,764 |
Loans secured by real estate to non-U.S. addressees |
$0 |
Restructured Loans & leases |
$8,601 |
Non 1-4 family restructured loans & leases |
$1,956 |
Total loans and leases (foreign) |
$0 |
Shore United Bank had $2,141,658,000 of loans outstanding in 2021. $1,826,778,000 of loans were in real estate loans.
$240,708,000 of loans were in development loans. $86,318,000 of loans were in multifamily mortgage loans.
$603,522,000 of loans were in 1-4 family mortgage loans. $902,000 of loans were in farm loans. $0
of loans were in credit card loans. $50,286,000 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 |
591 |
$177,203 |
$299,836 |
Nonfarm, nonresidential loans - <$100k |
66 |
$2,910 |
$44,091 |
Nonfarm, nonresidential loans - $100-250k |
146 |
$18,219 |
$124,788 |
Nonfarm, nonresidential loans - $250k-1MM |
379 |
$156,074 |
$411,805 |
Commercial & Industrial, US addressed loans - <$1MM |
980 |
$64,104 |
$65,412 |
Commercial & Industrial, US addressed loans - <$100k |
620 |
$10,451 |
$16,856 |
Commercial & Industrial, US addressed loans - $100-250k |
208 |
$17,566 |
$84,452 |
Commercial & Industrial, US addressed loans - $250k-1MM |
152 |
$36,087 |
$237,414 |
Farmland loans - <$1MM |
26 |
$3,793 |
$145,885 |
Farmland loans - <$100k |
9 |
$303 |
$33,667 |
Farmland loans - $100-250k |
8 |
$1,025 |
$128,125 |
Farmland loans - $250k-1MM |
9 |
$2,465 |
$273,889 |
Agriculture operations loans - <$1MM |
11 |
$83 |
$7,545 |
Agriculture operations loans - <$100k |
11 |
$83 |
$7,545 |