Shore United Bank Mortgage Rates, Fees & Info

Easton, MD

LEI: 54930009M8OIJWECQX81

Tax ID: 52-0267925

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

Jump to:

Mortgage Data

Bank Data

Review & 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. Their top markets by origination volume include: Easton, Baltimore, Dover, Salisbury, and Philadelphia among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Shore United 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.69% 12/7/24
30 Year Conventional Refi 6.38% 12/7/24
30 Year Cash-out Refi 6.88% 12/7/24
30 Year FHA Purchase 7.30% 12/7/24
30 Year FHA Refi 6.66% 12/7/24
30 Year VA Purchase 6.47% 12/7/24
30 Year VA Refi 6.77% 12/7/24
30 Year USDA Purchase 6.68% 12/7/24
30 Year USDA Refi 6.27% 12/7/24
15 Year Conventional Purchase 6.41% 12/7/24
15 Year Conventional Refi 5.58% 12/7/24
15 Year Cash-out Refi 5.58% 12/7/24
15 Year VA Purchase 6.29% 12/7/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Shore United Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Shore United Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

229

Origination Dollar Volume (All Markets)

$60,945,000

Employee count

280

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
Easton, MD (FHA|USDA|VA) 65 $16,475,000 $253,462 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 39 $12,575,000 $322,436 $0 0.00%
DOVER, DE (FHA|USDA|VA) 41 $8,255,000 $201,341 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 30 $8,070,000 $269,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 8 $5,360,000 $670,000 $0 0.00%
Outside of Metro Areas 25 $4,745,000 $189,800 $0 0.00%
Cambridge, MD (FHA|USDA|VA) 16 $2,460,000 $153,750 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $1,510,000 $755,000 $0 0.00%
Key West, FL (FHA|USDA|VA) 1 $1,025,000 $1,025,000 $0 0.00%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Shore United Bank's top markets include Easton, Baltimore, Dover, Salisbury, and Philadelphia among others.

Their top states include:
  • Maryland (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against Shore United Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 84
    PATRIOT
    Similarity Rank: 96
    POINT BREEZE
    Similarity Rank: 270
    FIRST FINANCIAL OF MARYLAND
    Similarity Rank: 444
    Hebron Savings Bank
    Similarity Rank: 460
    APL
    Similarity Rank: 605

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 229 $60,945,000 $266,135 $0 0.00%

    For 2019, Shore United Bank's most frequently originated type of loan was Conventional, with 229 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 139 $38,075,000 $273,921 $0 0.00%
    Refi 63 $16,965,000 $269,286 $0 0.00%
    Home Improvement 15 $4,635,000 $309,000 $0 0.00%
    Other 12 $1,270,000 $105,833 $0 0.00%

    For 2019, Shore United Bank's most frequently cited loan purpose was Home Purchase, with 139 originations. The 2nd most popular reason was Refi, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 229 $60,945,000 $266,135 $0 0.00%

    For 2019, Shore United Bank's most frequently cited loan duration was Other, with 229 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 70 $10,050,000 $143,571 $0 0.00%
    $100,000 or less 63 $3,865,000 $61,349 $0 0.00%
    $200k-400k 50 $13,410,000 $268,200 $0 0.00%
    $400k-600k 24 $11,310,000 $471,250 $0 0.00%
    $600k-1MM 14 $10,020,000 $715,714 $0 0.00%
    $1MM+ 8 $12,290,000 $1,536,250 $0 0.00%

    2019 saw Shore United Bank place emphasis on $100k-200k loans with 70 originations, totaling $10,050,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 35 $3,795,000 $108,429 $0 0.00%
    $100k-150k 32 $7,020,000 $219,375 $0 0.00%
    $150k-250k 30 $9,480,000 $316,000 $0 0.00%
    $250k+ 30 $14,240,000 $474,667 $0 0.00%
    $50k-75k 29 $3,715,000 $128,103 $0 0.00%
    $75k-100k 15 $2,695,000 $179,667 $0 0.00%

    Shore United Bank lent most frequently to those with incomes in the $50k or less range, with 35 originations. The second most popular income band? $100k-150k, with 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 229 $60,945,000 $266,135 $0 0.00%

    Shore United Bank lent most frequently to those with DTI ratios of Exempt%, with 229 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 160 $38,660,000 $241,625 $0 0.00%
    Not applicable 54 $19,250,000 $356,481 $0 0.00%
    Not provided 8 $2,250,000 $281,250 $0 0.00%
    Black 6 $730,000 $121,667 $0 0.00%
    Asian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.29%

    Shore United Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.31%

    Shore United Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 229 $60,945,000 $266,135

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $10,360,000 $1,036,000
    Single Family (1-4 Units):Manufactured 16 $1,210,000 $75,625
    Single Family (1-4 Units):Site-Built 203 $49,375,000 $243,227

    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 $77,238
    Shore United Bank 109 N. Commerce Street Centreville, MD 21617 Full Service B&M $116,737
    Shore United Bank 1101 Maiden Choice Lane Baltimore, MD 21229 Full Service B&M $126,000
    Shore United Bank 120 Main Street Felton, DE 19943 Full Service B&M $49,489
    Shore United Bank 18 Dover Street Easton, MD 21601 Full Service B&M $307,196
    Shore United Bank 202 Pullman Crossing Grasonville, MD 21638 Full Service B&M $16,866
    Shore United Bank 210 Marlboro Road Easton, MD 21601 Full Service B&M $90,881
    Shore United Bank 22151 Wes Street Ridgely, MD 21660 Full Service B&M $26,435
    Shore United Bank 25306 Lankford Hwy Onley, VA 23418 Full Service B&M $7,112
    Shore United Bank 2609 Centreville Road Centreville, MD 21617 Full Service B&M $34,993
    Shore United Bank 300 Castle Marina Road Chester, MD 21619 Full Service B&M $21,645
    Shore United Bank 408 Thompson Creek Road Stevensville, MD 21666 Full Service B&M $73,691
    Shore United Bank 424 Dorchester Avenue Cambridge, MD 21613 Full Service B&M $25,783
    Shore United Bank 4580 S Dupont Hwy Camden, DE 19934 Full Service B&M $17,313
    Shore United Bank 6050 Marshalee Drive Elkridge, MD 21075 Full Service B&M $30,313
    Shore United Bank 698a North Dupont Highway Milford, DE 19963 Full Service B&M $25,555
    Shore United Bank 800 S. Governors Avenue Dover, DE 19904 Full Service B&M $25,342
    Shore United Bank 8275 Elliott Road Easton, MD 21601 Full Service B&M $64,738
    Shore United Bank 850 South 5th Ave Denton, MD 21629 Full Service B&M $42,950
    Shore United Bank 899 Washington Avenue Chestertown, MD 21620 Full Service B&M $50,951
    Shore United Bank 9612 Reisterstown Road Owings Mills, MD 21117 Full Service B&M $36,850

    For 2019, Shore United Bank had 21 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $59,779
    Net interest income $50,090
    Total noninterest income $9,602
    Gross Fiduciary activities income $1,017
    Service charges on deposit accounts $4,034
    Trading account gains and fees $0
    Additional Noninterest Income $4,551
    Pre-tax net operating income $22,240
    Securities gains (or losses, -) $41
    Income before extraordinary items $16,568
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $16,568
    Minority interest net income $0
    Net income $16,568
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $16,535

    Shore United Bank's gross interest income from loans was $59,779,000.
    Shore United Bank's net interest income from loans was $50,090,000.
    Shore United Bank's fee based income from loans was $4,034,000.
    Shore United Bank's net income from loans was $16,568,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,689
    Provision for credit losses $700
    Total noninterest expense $36,752
    Salaries and employee benefits $20,619
    Premises and equipment expense $3,868
    Additional noninterest expense $12,265
    Applicable income taxes $5,713
    Net charge-offs $536
    Cash dividends $0

    Shore United Bank's interest expense for loans was $9,689,000.
    Shore United Bank's payroll and benefits expense were $20,619,000.
    Shore United Bank's property, plant and equipment expenses $3,868,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 4.0%
    1-4 family residential loans 0.0%
    HELOC loans 1.0%
    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 $1,348,857
    Deposits held in domestic offices $1,348,857
    Deposits by Individuals, partnerships, and corporations $1,295,044
    Deposits by U.S. Government $334
    Deposits by States and political subdivisions in the U.S. $53,479
    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 $249,680
    Demand deposits $249,680
    Nontransaction accounts $1,099,177
    Money market deposit accounts (MMDAs) $269,547
    Other savings deposits (excluding MMDAs) $552,900
    Total time deposits $276,730
    Total time and savings deposits $1,099,177
    Noninterest-bearing deposits $356,643
    Interest-bearing deposits $992,214
    Retail deposits $1,310,182
    IRAs and Keogh plan accounts $51,806
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,558,945
    Cash & Balances due from depository institutions $94,971
    Interest-bearing balances $76,506
    Total securities $132,919
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,238,147
    Loan and leases loss allowance $10,507
    Trading account assets $0
    Bank premises and fixed assets $28,593
    Other real estate owned $74
    Goodwill and other intangibles $19,770
    All other assets $44,471

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,558,945
    Total Liabilities $1,375,762
    Total deposits $1,348,857
    Interest-bearing deposits $992,214
    Deposits held in domestic offices $1,348,857
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $1,226
    Trading liabilities $0
    Other borrowed funds $19,792
    Subordinated debt $0
    All other liabilities $5,887

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,238,147
    Loan and leases loss allowance $10,507
    Total loans and leases (domestic) $1,248,654
    All real estate loans $1,128,897
    Real estate loans in domestic offices $1,128,897
    Construction and development loans $99,829
    Residential 1-4 family construction $15,104
    Other construction, all land development and other land $84,725
    Loans secured by nonfarm nonresidential properties $550,568
    Nonfarm nonresidential secured by owner-occupied properties $214,710
    Commercial real estate & other non-farm, non-residential $335,858
    Multifamily residential real estate $34,103
    1-4 family residential loans $408,403
    Farmland loans $35,994
    Loans held in foreign offices $0
    Farm loans $2,135
    Commercial and industrial loans $93,345
    To non-U.S. addressees $0
    Loans to individuals $17,737
    Credit card loans $0
    Related Plans $1,036
    Consumer Auto Loans $10,613
    Other loans to individuals $6,088
    All other loans & leases $6,540
    Loans to foreign governments and official institutions $0
    Other loans $325
    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 $4,420
    Non 1-4 family restructured loans & leases $1,702
    Total loans and leases (foreign) $0

    Shore United Bank had $1,238,147,000 of loans outstanding in 2019. $1,128,897,000 of loans were in real estate loans. $99,829,000 of loans were in development loans. $34,103,000 of loans were in multifamily mortgage loans. $408,403,000 of loans were in 1-4 family mortgage loans. $2,135,000 of loans were in farm loans. $0 of loans were in credit card loans. $10,613,000 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 404 $118,784 $294,020
    Nonfarm, nonresidential loans - <$100k 53 $2,323 $43,830
    Nonfarm, nonresidential loans - $100-250k 100 $12,986 $129,860
    Nonfarm, nonresidential loans - $250k-1MM 251 $103,475 $412,251
    Commercial & Industrial, US addressed loans - <$1MM 611 $31,488 $51,535
    Commercial & Industrial, US addressed loans - <$100k 423 $5,474 $12,941
    Commercial & Industrial, US addressed loans - $100-250k 100 $6,977 $69,770
    Commercial & Industrial, US addressed loans - $250k-1MM 88 $19,037 $216,330
    Farmland loans - <$1MM 31 $5,337 $172,161
    Farmland loans - <$100k 11 $483 $43,909
    Farmland loans - $100-250k 7 $946 $135,143
    Farmland loans - $250k-1MM 13 $3,908 $300,615
    Agriculture operations loans - <$1MM 21 $836 $39,810
    Agriculture operations loans - <$100k 15 $190 $12,667
    Agriculture operations loans - $100-250k 4 $622 $155,500
    Agriculture operations loans - $250k-1MM 2 $24 $12,000