The Honesdale National Bank Mortgage Rates, Fees & Info

Honesdale, PA

LEI: 549300458LCI17J5BY03

Tax ID: 24-0614415

5 stars - out of 5 stars, based on 25 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

The Honesdale National Bank is a smaller bank specializing in Refi and Home Purchase loans. The Honesdale National 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 Scranton, New York, Allentown, East Stroudsburg, and Bloomsburg among others. The Honesdale National Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. The Honesdale National Bank is typically an average fee lendor.


Originations

604

Origination Dollar Volume (All Markets)

$111,490,000

Employee count

159

Awards

The Honesdale National Bank 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

The Honesdale National Bank's average 30 year fixed rate mortgage of loans were 3.05%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.1%.

Relative Fees

The Honesdale National Bank's average total fees for a 30 year fixed rate mortgage are $4,954.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 257 $48,125,000 $187,257 $4,326 3.35%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 251 $39,425,000 $157,072 $3,693 3.28%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 81 $20,855,000 $257,469 $4,930 3.08%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $1,555,000 $518,333 $4,351 3.25%
EAST STROUDSBURG, PA (FHA|USDA|VA) 9 $1,285,000 $142,778 $2,858 3.46%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 2 $200,000 $100,000 $3,258 3.01%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $45,000 $45,000 $200 3.99%

The Honesdale National Bank's top markets include Scranton, New York, Allentown, East Stroudsburg, and Bloomsburg among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 590 $109,350,000 $185,339 $4,079 3.28%
FHA 9 $1,685,000 $187,222 $6,881 3.35%
USDA 5 $455,000 $91,000 $4,201 3.30%

For the 2021 period, The Honesdale National Bank's most frequently originated loan type of loans were Conventional, with 590 originations. Their 2nd most popular type is FHA, with 9 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 290 $48,150,000 $166,034 $3,666 3.08%
Home Purchase 270 $59,060,000 $218,741 $5,223 3.36%
Home Improvement 26 $2,670,000 $102,692 $958 4.06%
Other 18 $1,610,000 $89,444 $1,044 4.46%

For the 2021, The Honesdale National Bank's most frequently cited loan purpose of loans were Refi, with 290 originations. The 2nd most popular reason of loans were Home Purchase, with 270 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 254 $52,460,000 $206,535 $4,954 3.05%
15 Year 136 $21,280,000 $156,471 $2,784 3.12%
20 Year 125 $22,295,000 $178,360 $3,995 3.75%
10 Year 46 $3,980,000 $86,522 $860 3.47%
30+ year 26 $8,620,000 $331,538 $8,248 3.66%
Other 12 $2,380,000 $198,333 $4,140 3.34%
5 Year 4 $420,000 $105,000 $0 3.86%
1 Year 1 $55,000 $55,000 $0 5.25%

For the 2021, The Honesdale National Bank's most frequently cited loan length of loans were 30 Year, with 254 originations. The 2nd most popular length of loans were 15 Year, with 136 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 242 $34,580,000 $142,893
$1k-2k 132 $22,610,000 $171,288
$3k-4k 66 $17,190,000 $260,455
$2k-3k 46 $8,890,000 $193,261
$5k+ 21 $9,185,000 $437,381

$4,954 of loans were The Honesdale National Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 242 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 232 $44,720,000 $192,759
3-4% 183 $35,335,000 $193,087
<2.5% 93 $14,645,000 $157,473
4-5% 81 $15,635,000 $193,025
5-6% 9 $835,000 $92,778
7-8% 4 $240,000 $60,000
6-7% 1 $35,000 $35,000
Over 8% 1 $45,000 $45,000

During 2021, The Honesdale National Bank's average interest rate of loans were 3.05%, while their most frequently originated rate bucket of loans were 2.5-3%, with 232 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 262 $38,140,000 $145,573 $3,691 3.12%
$200k-400k 167 $44,955,000 $269,192 $5,723 3.15%
$100,000 or less 143 $9,465,000 $66,189 $1,780 3.71%
$400k-600k 22 $10,290,000 $467,727 $8,866 3.32%
$600k-1MM 8 $5,520,000 $690,000 $8,763 3.92%
$1MM+ 2 $3,120,000 $1,560,000 $30,926 3.95%

2021 saw The Honesdale National Bank place emphasis on $100k-200k loans with 262 originations, totaling $38,140,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 111 $20,625,000 $185,811 $4,365 3.08%
$50k-75k 109 $14,955,000 $137,202 $3,477 3.03%
$75k-100k 109 $18,165,000 $166,651 $3,962 3.12%
$50k or less 84 $8,500,000 $101,190 $2,807 3.49%
$150k-250k 67 $16,385,000 $244,552 $5,083 3.09%
$250k+ 46 $16,300,000 $354,348 $6,826 3.31%

The Honesdale National Bank lent most frequently to those with incomes in the $100k-150k range, with 111 originations. The second most popular income band? $50k-75k, with 109 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 146 $25,460,000 $174,384 $3,753 3.06%
30-36% 103 $18,815,000 $182,670 $4,062 3.05%
<20% 55 $9,385,000 $170,636 $3,423 3.11%
38% 29 $6,055,000 $208,793 $5,371 3.18%
37% 25 $3,215,000 $128,600 $3,086 3.38%
40% 23 $5,985,000 $260,217 $5,116 3.37%
41% 21 $3,085,000 $146,905 $4,034 3.24%
36% 15 $2,935,000 $195,667 $5,097 2.95%
39% 15 $2,955,000 $197,000 $5,425 3.33%
42% 12 $2,230,000 $185,833 $3,631 3.05%
48% 12 $2,120,000 $176,667 $4,622 2.91%
45% 11 $2,495,000 $226,818 $5,432 2.75%
44% 9 $1,715,000 $190,556 $5,316 2.89%
50-60% 6 $1,690,000 $281,667 $6,644 3.79%
43% 6 $940,000 $156,667 $4,311 3.21%
47% 5 $835,000 $167,000 $3,448 2.93%
46% 4 $730,000 $182,500 $3,850 2.69%
49% 3 $845,000 $281,667 $5,241 2.71%

The Honesdale National Bank lent most frequently to those with DTI ratios of 20-30%, with 146 originations. The next most common DTI ratio? 30-36%, with 103 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 527 $95,085,000 $180,427 $4,134 3.17%
Not applicable 66 $14,630,000 $221,667 $0 4.21%
Not provided 8 $1,300,000 $162,500 $3,678 3.14%
Asian 1 $255,000 $255,000 $5,610 2.88%
Black 2 $220,000 $110,000 $4,214 3.00%

Approval Rates

Total approvals of all applications
93.17%

The Honesdale National Bank has an average approval rate.

Pick Rate

Approvals leading to origination
86.52%

The Honesdale National Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 604 $111,490,000 $184,586

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
604 $111,490,000 $184,586

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 45 $4,265,000 $94,778 $1,416 3.71%
40-60% 101 $14,665,000 $145,198 $3,105 3.12%
60-80% 272 $56,980,000 $209,485 $4,842 3.21%
80-100% 158 $34,260,000 $216,835 $5,046 3.28%
Over 100% 1 $95,000 $95,000 $4,444 2.75%
Under 20% 24 $910,000 $37,917 $352 4.12%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
The Honesdale National Bank 733 Main Street Honesdale, PA 18431 Full Service B&M $274,419
The Honesdale National Bank 100 Lcpl Jacob Beisel Road Lackawaxen, PA 18435 Full Service B&M $16,948
The Honesdale National Bank 1207 Texas Palmyra Hwy, Route 6 Plaza Honesdale, PA 18431 Full Service B&M $58,607
The Honesdale National Bank 13 Chapman Lake Road Scott Township, PA 18447 Full Service B&M $74,408
The Honesdale National Bank 18 Como Road Lakewood, PA 18439 Full Service B&M $12,011
The Honesdale National Bank 202 Betty Street Eynon, PA 18403 Full Service B&M $15,517
The Honesdale National Bank 2547 Route 6 Hawley, PA 18428 Full Service B&M $44,017
The Honesdale National Bank 313 Main Street Hallstead, PA 18822 Full Service B&M $10,803
The Honesdale National Bank 38 North Franklin Street Wilkes-Barre, PA 18701 Full Service B&M $5,187
The Honesdale National Bank 559 Hamlin Highway, Route 590 Hamlin, PA 18427 Full Service B&M $91,981
The Honesdale National Bank 619 Main Street Forest City, PA 18421 Full Service B&M $90,048
The Honesdale National Bank 651 Northern Boulevard Clarks Summit, PA 18411 Full Service B&M $15,382
The Honesdale National Bank 786 Wyoming Ave Kingston, PA 18704 Full Service B&M $44,175

For 2021, The Honesdale National Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $29,152
Net interest income $27,876
Total noninterest income $7,828
Gross Fiduciary activities income $698
Service charges on deposit accounts $700
Trading account gains and fees $0
Additional Noninterest Income $6,430
Pre-tax net operating income $12,896
Securities gains (or losses, -) $0
Income before extraordinary items $10,816
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $10,816
Minority interest net income $0
Net income $10,816
Sale, conversion, retirement of capital stock, net $1,152
Net operating income $10,816

The Honesdale National Bank's gross interest income from loans was $29,152,000.
The Honesdale National Bank's net interest income from loans was $27,876,000.
The Honesdale National Bank's fee based income from loans was $700,000.
The Honesdale National Bank's net income from loans was $10,816,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,276
Provision for credit losses $600
Total noninterest expense $22,208
Salaries and employee benefits $12,639
Premises and equipment expense $1,848
Additional noninterest expense $7,721
Applicable income taxes $2,080
Net charge-offs $197
Cash dividends $4,266

The Honesdale National Bank's interest expense for loans was $1,276,000.
The Honesdale National Bank's payroll and benefits expense were $12,639,000.
The Honesdale National Bank's property, plant and equipment expenses $1,848,000.

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 $817,382
Deposits held in domestic offices $817,382
Deposits by Individuals, partnerships, and corporations $750,667
Deposits by U.S. Government $5
Deposits by States and political subdivisions in the U.S. $66,710
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 $357,345
Demand deposits $281,915
Nontransaction accounts $460,037
Money market deposit accounts (MMDAs) $153,543
Other savings deposits (excluding MMDAs) $151,756
Total time deposits $154,738
Total time and savings deposits $535,467
Noninterest-bearing deposits $281,963
Interest-bearing deposits $535,419
Retail deposits $790,417
IRAs and Keogh plan accounts $28,899
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $944,670
Cash & Balances due from depository institutions $193,477
Interest-bearing balances $185,969
Total securities $152,168
Federal funds sold & reverse repurchase $885
Net loans and leases $551,976
Loan and leases loss allowance $10,630
Trading account assets $0
Bank premises and fixed assets $7,778
Other real estate owned $0
Goodwill and other intangibles $1,373
All other assets $37,013

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $944,670
Total Liabilities $826,453
Total deposits $817,382
Interest-bearing deposits $535,419
Deposits held in domestic offices $817,382
% insured (estimated) $73
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $9,071

Issued Loan Types

Type Value (in 000's)
Net loans and leases $551,976
Loan and leases loss allowance $10,630
Total loans and leases (domestic) $562,606
All real estate loans $454,501
Real estate loans in domestic offices $454,501
Construction and development loans $29,416
Residential 1-4 family construction $9,724
Other construction, all land development and other land $19,692
Loans secured by nonfarm nonresidential properties $195,505
Nonfarm nonresidential secured by owner-occupied properties $128,303
Commercial real estate & other non-farm, non-residential $67,202
Multifamily residential real estate $21,451
1-4 family residential loans $203,172
Farmland loans $4,957
Loans held in foreign offices $0
Farm loans $1,033
Commercial and industrial loans $77,457
To non-U.S. addressees $0
Loans to individuals $22,312
Credit card loans $915
Related Plans $548
Consumer Auto Loans $11,557
Other loans to individuals $9,292
All other loans & leases $8,621
Loans to foreign governments and official institutions $0
Other loans $3,958
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $686
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $867
Non 1-4 family restructured loans & leases $170
Total loans and leases (foreign) $0

The Honesdale National Bank had $551,976,000 of loans outstanding in 2021. $454,501,000 of loans were in real estate loans. $29,416,000 of loans were in development loans. $21,451,000 of loans were in multifamily mortgage loans. $203,172,000 of loans were in 1-4 family mortgage loans. $1,033,000 of loans were in farm loans. $915,000 of loans were in credit card loans. $11,557,000 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 552 $92,684 $167,906
Nonfarm, nonresidential loans - <$100k 169 $6,139 $36,325
Nonfarm, nonresidential loans - $100-250k 202 $24,445 $121,015
Nonfarm, nonresidential loans - $250k-1MM 181 $62,100 $343,094
Commercial & Industrial, US addressed loans - <$1MM 922 $45,312 $49,145
Commercial & Industrial, US addressed loans - <$100k 677 $12,739 $18,817
Commercial & Industrial, US addressed loans - $100-250k 161 $15,042 $93,429
Commercial & Industrial, US addressed loans - $250k-1MM 84 $17,531 $208,702
Farmland loans - <$1MM 25 $1,645 $65,800
Farmland loans - <$100k 15 $379 $25,267
Farmland loans - $100-250k 7 $696 $99,429
Farmland loans - $250k-1MM 3 $570 $190,000
Agriculture operations loans - <$1MM 25 $660 $26,400
Agriculture operations loans - <$100k 24 $570 $23,750
Agriculture operations loans - $100-250k 1 $90 $90,000