Portage Community Bank Mortgage Rates, Fees & Info

Ravenna, OH

LEI: 5493005LKELKKRLTQA25

Tax ID: 34-1867889

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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 (Closing Costs)

    • Bank Data

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

    • Review & Overview

    Portage Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Portage Community Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Akron, Canton, Cleveland, Youngstown, and Columbus among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Portage Community Bank has an above 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.

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    Originations

    472

    Origination Dollar Volume (All Markets)

    $86,550,000

    Employee count

    78

    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
    AKRON, OH (FHA|USDA|VA) 388 $72,650,000 $187,242 $0 0.00%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 39 $6,635,000 $170,128 $0 0.00%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 21 $4,185,000 $199,286 $0 0.00%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 22 $2,720,000 $123,636 $0 0.00%
    COLUMBUS, OH (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Portage Community Bank's top markets include Akron, Canton, Cleveland, Youngstown, and Columbus among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 402 $76,310,000 $189,826 $0 0.00%
    FHA 63 $8,625,000 $136,905 $0 0.00%
    VA 5 $1,385,000 $277,000 $0 0.00%
    USDA 2 $230,000 $115,000 $0 0.00%

    For 2020, Portage Community Bank's most frequently originated type of loan was Conventional, with 402 originations. Their 2nd most popular type was FHA, with 63 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 298 $47,250,000 $158,557 $0 0.00%
    Refi 104 $27,520,000 $264,615 $0 0.00%
    Cash Out Refi 58 $10,180,000 $175,517 $0 0.00%
    Home Improvement 6 $750,000 $125,000 $0 0.00%
    Other 6 $850,000 $141,667 $0 0.00%

    For 2020, Portage Community Bank's most frequently cited loan purpose was Home Purchase, with 298 originations. The 2nd most popular reason was Refi, with 104 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 472 $86,550,000 $183,369 $0 0.00%

    For 2020, Portage Community Bank's most frequently cited loan duration was Other, with 472 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 246 $35,250,000 $143,293 $0 0.00%
    $200k-400k 120 $31,380,000 $261,500 $0 0.00%
    $100,000 or less 88 $6,270,000 $71,250 $0 0.00%
    $400k-600k 13 $5,975,000 $459,615 $0 0.00%
    $600k-1MM 4 $3,170,000 $792,500 $0 0.00%
    $1MM+ 1 $4,505,000 $4,505,000 $0 0.00%

    2020 saw Portage Community Bank place emphasis on $100k-200k loans with 246 originations, totaling $35,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 132 $18,690,000 $141,591 $0 0.00%
    $50k or less 99 $11,955,000 $120,758 $0 0.00%
    $75k-100k 81 $15,075,000 $186,111 $0 0.00%
    $100k-150k 73 $15,995,000 $219,110 $0 0.00%
    $150k-250k 35 $8,615,000 $246,143 $0 0.00%
    $250k+ 11 $3,965,000 $360,455 $0 0.00%

    Portage Community Bank lent most frequently to those with incomes in the $50k-75k range, with 132 originations. The second most popular income band? $50k or less, with 99 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 472 $86,550,000 $183,369 $0 0.00%

    Portage Community Bank lent most frequently to those with DTI ratios of Exempt%, with 472 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 423 $73,125,000 $172,872 $0 0.00%
    Not applicable 35 $11,405,000 $325,857 $0 0.00%
    Black 8 $1,030,000 $128,750 $0 0.00%
    Asian 3 $695,000 $231,667 $0 0.00%
    Not provided 3 $295,000 $98,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.85%

    Portage Community Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.60%

    Portage Community Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 472 $86,550,000 $183,369

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $10,530,000 $752,143
    Single Family (1-4 Units):Manufactured 2 $340,000 $170,000
    Single Family (1-4 Units):Site-Built 456 $75,680,000 $165,965

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Portage Community Bank 1311 East Main Street Ravenna, OH 44266 Full Service B&M $239,316
    Portage Community Bank 140 Portage Trl Cuyahoga Falls, OH 44221 Full Service B&M $12,602
    Portage Community Bank 1532 South Water Street Kent, OH 44240 Full Service B&M $92,713

    For 2020, Portage Community Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,535
    Net interest income $11,796
    Total noninterest income $2,357
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $112
    Trading account gains and fees $0
    Additional Noninterest Income $2,245
    Pre-tax net operating income $3,603
    Securities gains (or losses, -) $3
    Income before extraordinary items $3,009
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,009
    Minority interest net income $0
    Net income $3,009
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,006

    Portage Community Bank's gross interest income from loans was $14,535,000.
    Portage Community Bank's net interest income from loans was $11,796,000.
    Portage Community Bank's fee based income from loans was $112,000.
    Portage Community Bank's net income from loans was $3,009,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,739
    Provision for credit losses $100
    Total noninterest expense $10,450
    Salaries and employee benefits $6,844
    Premises and equipment expense $593
    Additional noninterest expense $3,013
    Applicable income taxes $597
    Net charge-offs $15
    Cash dividends $0

    Portage Community Bank's interest expense for loans was $2,739,000.
    Portage Community Bank's payroll and benefits expense were $6,844,000.
    Portage Community Bank's property, plant and equipment expenses $593,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 10.0%
    Nonfarm, nonresidential loans 3.0%
    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 $381,612
    Deposits held in domestic offices $381,612
    Deposits by Individuals, partnerships, and corporations $344,460
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $35,324
    Deposits by Commercial banks and other depository institutions in U.S. $1,828
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $118,892
    Demand deposits $79,196
    Nontransaction accounts $262,720
    Money market deposit accounts (MMDAs) $116,825
    Other savings deposits (excluding MMDAs) $29,712
    Total time deposits $116,183
    Total time and savings deposits $302,416
    Noninterest-bearing deposits $79,196
    Interest-bearing deposits $302,416
    Retail deposits $367,186
    IRAs and Keogh plan accounts $13,305
    Brokered deposits $335
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $454,481
    Cash & Balances due from depository institutions $78,477
    Interest-bearing balances $74,818
    Total securities $76,308
    Federal funds sold & reverse repurchase $205
    Net loans and leases $277,093
    Loan and leases loss allowance $3,023
    Trading account assets $0
    Bank premises and fixed assets $7,659
    Other real estate owned $27
    Goodwill and other intangibles $70
    All other assets $14,642

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $454,481
    Total Liabilities $406,882
    Total deposits $381,612
    Interest-bearing deposits $302,416
    Deposits held in domestic offices $381,612
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $20,503
    Subordinated debt $0
    All other liabilities $4,767

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $277,093
    Loan and leases loss allowance $3,023
    Total loans and leases (domestic) $280,116
    All real estate loans $235,154
    Real estate loans in domestic offices $235,154
    Construction and development loans $6,159
    Residential 1-4 family construction $4,187
    Other construction, all land development and other land $1,972
    Loans secured by nonfarm nonresidential properties $79,421
    Nonfarm nonresidential secured by owner-occupied properties $51,684
    Commercial real estate & other non-farm, non-residential $27,737
    Multifamily residential real estate $10,924
    1-4 family residential loans $137,229
    Farmland loans $1,421
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $35,974
    To non-U.S. addressees $0
    Loans to individuals $5,108
    Credit card loans $0
    Related Plans $139
    Consumer Auto Loans $432
    Other loans to individuals $4,537
    All other loans & leases $3,880
    Loans to foreign governments and official institutions $0
    Other loans $85
    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 $446
    Non 1-4 family restructured loans & leases $5
    Total loans and leases (foreign) $0

    Portage Community Bank had $277,093,000 of loans outstanding in 2020. $235,154,000 of loans were in real estate loans. $6,159,000 of loans were in development loans. $10,924,000 of loans were in multifamily mortgage loans. $137,229,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $432,000 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 234 $40,544 $173,265
    Nonfarm, nonresidential loans - <$100k 68 $2,430 $35,735
    Nonfarm, nonresidential loans - $100-250k 87 $10,954 $125,908
    Nonfarm, nonresidential loans - $250k-1MM 79 $27,160 $343,797
    Commercial & Industrial, US addressed loans - <$1MM 250 $16,674 $66,696
    Commercial & Industrial, US addressed loans - <$100k 153 $3,485 $22,778
    Commercial & Industrial, US addressed loans - $100-250k 64 $5,161 $80,641
    Commercial & Industrial, US addressed loans - $250k-1MM 33 $8,028 $243,273
    Farmland loans - <$1MM 3 $320 $106,667
    Farmland loans - $100-250k 3 $320 $106,667