Shore United Bank Mortgage Rates, Fees & Info

Easton, MD

LEI: 54930009M8OIJWECQX81

Tax ID: 52-0267925

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
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees

    • Bank Data

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

    • 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

    Item Value (in 000's)
    Total interest income $70,169
    Net interest income $65,690
    Total noninterest income $13,231
    Gross Fiduciary activities income $1,215
    Service charges on deposit accounts $3,638
    Trading account gains and fees $0
    Additional Noninterest Income $8,378
    Pre-tax net operating income $25,833
    Securities gains (or losses, -) $-38
    Income before extraordinary items $18,764
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $18,764
    Minority interest net income $0
    Net income $18,764
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $18,794

    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.

    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 $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