Armstrong County Building And Loan Association Mortgage Rates, Fees & Info

Ford City, PA

LEI: 5493000HR6P25A740Y77

Tax ID: 25-0328590

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Mortgage Data

Bank Data

Review & Overview

Armstrong County Building And Loan Association is a smaller mortgage company specializing in Home Purchase and Refi loans. Armstrong County Building And Loan Association has a high proportion of conventional loans. Their top (well, only) market is Pittsburgh.

Armstrong County Building And Loan Association has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

74

Origination Dollar Volume (All Markets)

$7,940,000

Employee count

6

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
PITTSBURGH, PA (FHA|USDA|VA) 74 $7,940,000 $107,297 $0 0.00%
Armstrong County Building And Loan Association's top markets include and Pittsburgh among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 74 $7,940,000 $107,297 $0 0.00%

    For 2021, Armstrong County Building And Loan Association's most frequently originated type of loan was Conventional, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 34 $2,980,000 $87,647 $0 0.00%
    Refi 31 $4,005,000 $129,194 $0 0.00%
    Other 9 $955,000 $106,111 $0 0.00%

    For 2021, Armstrong County Building And Loan Association's most frequently cited loan purpose was Home Purchase, with 34 originations. The 2nd most popular reason was Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 74 $7,940,000 $107,297 $0 0.00%

    For 2021, Armstrong County Building And Loan Association's most frequently cited loan duration was Other, with 74 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 45 $2,555,000 $56,778 $0 0.00%
    $100k-200k 20 $2,800,000 $140,000 $0 0.00%
    $200k-400k 8 $1,950,000 $243,750 $0 0.00%
    $600k-1MM 1 $635,000 $635,000 $0 0.00%

    2021 saw Armstrong County Building And Loan Association place emphasis on $100,000 or less loans with 45 originations, totaling $2,555,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 25 $1,795,000 $71,800 $0 0.00%
    $100k-150k 19 $2,675,000 $140,789 $0 0.00%
    $50k-75k 15 $1,365,000 $91,000 $0 0.00%
    $75k-100k 10 $1,000,000 $100,000 $0 0.00%
    $150k-250k 4 $470,000 $117,500 $0 0.00%
    $250k+ 1 $635,000 $635,000 $0 0.00%

    Armstrong County Building And Loan Association lent most frequently to those with incomes in the $50k or less range, with 25 originations. The second most popular income band? $100k-150k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 74 $7,940,000 $107,297 $0 0.00%

    Armstrong County Building And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 74 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $7,875,000 $107,877 $0 0.00%
    Asian 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.00%

    Armstrong County Building And Loan Association has an average approval rate.

    Pick Rate

    Approvals leading to origination
    97.30%

    Armstrong County Building And Loan Association has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 74 $7,940,000 $107,297

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    74 $7,940,000 $107,297

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Armstrong County Building and Loan Association 935 Fifth Avenue Ford City, PA 16226 Full Service B&M $81,221

    For 2021, Armstrong County Building And Loan Association had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,641
    Net interest income $970
    Total noninterest income $-27
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $0
    Trading account gains and fees $0
    Additional Noninterest Income $-27
    Pre-tax net operating income $-52
    Securities gains (or losses, -) $-78
    Income before extraordinary items $-171
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $-171
    Minority interest net income $0
    Net income $-171
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $-93

    Armstrong County Building And Loan Association's gross interest income from loans was $2,641,000.
    Armstrong County Building And Loan Association's net interest income from loans was $970,000.
    Armstrong County Building And Loan Association's fee based income from loans was $0.
    Armstrong County Building And Loan Association's net income from loans was $-171,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,671
    Provision for credit losses $33
    Total noninterest expense $962
    Salaries and employee benefits $440
    Premises and equipment expense $56
    Additional noninterest expense $466
    Applicable income taxes $41
    Net charge-offs $0
    Cash dividends $0

    Armstrong County Building And Loan Association's interest expense for loans was $1,671,000.
    Armstrong County Building And Loan Association's payroll and benefits expense were $440,000.
    Armstrong County Building And Loan Association's property, plant and equipment expenses $56,000.

    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 $79,447
    Deposits held in domestic offices $79,447
    Deposits by Individuals, partnerships, and corporations $79,188
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $259
    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 $13,447
    Demand deposits $13,447
    Nontransaction accounts $66,000
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $12,302
    Total time deposits $53,697
    Total time and savings deposits $66,000
    Noninterest-bearing deposits $0
    Interest-bearing deposits $79,447
    Retail deposits $70,505
    IRAs and Keogh plan accounts $33,399
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $92,727
    Cash & Balances due from depository institutions $2,251
    Interest-bearing balances $2,054
    Total securities $37,799
    Federal funds sold & reverse repurchase $0
    Net loans and leases $50,175
    Loan and leases loss allowance $381
    Trading account assets $0
    Bank premises and fixed assets $86
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $2,416

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $92,727
    Total Liabilities $79,864
    Total deposits $79,447
    Interest-bearing deposits $79,447
    Deposits held in domestic offices $79,447
    % insured (estimated) $96
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $417

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $50,175
    Loan and leases loss allowance $381
    Total loans and leases (domestic) $50,556
    All real estate loans $50,138
    Real estate loans in domestic offices $50,138
    Construction and development loans $355
    Residential 1-4 family construction $355
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $1,111
    Nonfarm nonresidential secured by owner-occupied properties $1,111
    Commercial real estate & other non-farm, non-residential $0
    Multifamily residential real estate $156
    1-4 family residential loans $48,516
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $553
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $553
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $426
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Armstrong County Building and Loan Association had $50,175,000 of loans outstanding in 2021. $50,138,000 of loans were in real estate loans. $355,000 of loans were in development loans. $156,000 of loans were in multifamily mortgage loans. $48,516,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 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 11 $1,111 $101,000
    Nonfarm, nonresidential loans - <$100k 6 $300 $50,000
    Nonfarm, nonresidential loans - $100-250k 3 $492 $164,000
    Nonfarm, nonresidential loans - $250k-1MM 2 $319 $159,500