Ssb Bank Mortgage Rates, Fees & Info

Pittsburgh, PA

LEI: 54930087BYCGOODQ7P92

Tax ID: 25-0971786

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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

    Ssb Bank is a smaller bank specializing in Home Purchase and Refi loans. Ssb Bank has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, Youngstown, Somerset, New Castle, and Salem among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Ssb Bank 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.

    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.

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    Originations

    134

    Origination Dollar Volume (All Markets)

    $26,160,000

    Employee count

    22

    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) 119 $24,495,000 $205,840 $0 0.00%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 2 $430,000 $215,000 $0 0.00%
    Somerset, PA (FHA|USDA|VA) 3 $425,000 $141,667 $0 0.00%
    New Castle, PA (FHA|USDA|VA) 4 $400,000 $100,000 $0 0.00%
    Salem, OH (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Meadville, PA (FHA|USDA|VA) 3 $95,000 $31,667 $0 0.00%
    Outside of Metro Areas 1 $15,000 $15,000 $0 0.00%
    Ssb Bank's top markets include Pittsburgh, Youngstown, Somerset, New Castle, and Salem among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 134 $26,160,000 $195,224 $0 0.00%

    For 2019, Ssb Bank's most frequently originated type of loan was Conventional, with 134 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 61 $11,435,000 $187,459 $0 0.00%
    Refi 54 $12,750,000 $236,111 $0 0.00%
    Home Improvement 15 $1,675,000 $111,667 $0 0.00%
    Other 4 $300,000 $75,000 $0 0.00%

    For 2019, Ssb Bank's most frequently cited loan purpose was Home Purchase, with 61 originations. The 2nd most popular reason was Refi, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 134 $26,160,000 $195,224 $0 0.00%

    For 2019, Ssb Bank's most frequently cited loan duration was Other, with 134 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 46 $2,010,000 $43,696 $0 0.00%
    $200k-400k 38 $10,650,000 $280,263 $0 0.00%
    $100k-200k 35 $4,995,000 $142,714 $0 0.00%
    $400k-600k 12 $5,640,000 $470,000 $0 0.00%
    $1MM+ 2 $2,110,000 $1,055,000 $0 0.00%
    $600k-1MM 1 $755,000 $755,000 $0 0.00%

    2019 saw Ssb Bank place emphasis on $100,000 or less loans with 46 originations, totaling $2,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 26 $4,940,000 $190,000 $0 0.00%
    $150k-250k 25 $7,795,000 $311,800 $0 0.00%
    $50k-75k 24 $2,400,000 $100,000 $0 0.00%
    $75k-100k 21 $2,685,000 $127,857 $0 0.00%
    $50k or less 10 $790,000 $79,000 $0 0.00%
    $250k+ 8 $3,110,000 $388,750 $0 0.00%

    Ssb Bank lent most frequently to those with incomes in the $100k-150k range, with 26 originations. The second most popular income band? $150k-250k, with 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 134 $26,160,000 $195,224 $0 0.00%

    Ssb Bank lent most frequently to those with DTI ratios of Exempt%, with 134 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 106 $19,150,000 $180,660 $0 0.00%
    Not applicable 14 $3,590,000 $256,429 $0 0.00%
    Black 10 $2,770,000 $277,000 $0 0.00%
    Not provided 4 $650,000 $162,500 $0 0.00%

    Approval Rates

    Total approvals of all applications
    99.31%

    Ssb Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    92.54%

    Ssb Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 134 $26,160,000 $195,224

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $1,160,000 $290,000
    Single Family (1-4 Units):Site-Built 130 $25,000,000 $192,308

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    SSB Bank 2470 California Avenue Pittsburgh, PA 15212 Full Service B&M $0
    SSB Bank 8700 Perry Highway Pittsburgh, PA 15237 Full Service B&M $146,816

    For 2019, Ssb Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,277
    Net interest income $4,474
    Total noninterest income $645
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $17
    Trading account gains and fees $0
    Additional Noninterest Income $628
    Pre-tax net operating income $471
    Securities gains (or losses, -) $48
    Income before extraordinary items $434
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $434
    Minority interest net income $0
    Net income $434
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $393

    Ssb Bank's gross interest income from loans was $8,277,000.
    Ssb Bank's net interest income from loans was $4,474,000.
    Ssb Bank's fee based income from loans was $17,000.
    Ssb Bank's net income from loans was $434,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,803
    Provision for credit losses $174
    Total noninterest expense $4,474
    Salaries and employee benefits $2,226
    Premises and equipment expense $357
    Additional noninterest expense $1,891
    Applicable income taxes $85
    Net charge-offs $116
    Cash dividends $0

    Ssb Bank's interest expense for loans was $3,803,000.
    Ssb Bank's payroll and benefits expense were $2,226,000.
    Ssb Bank's property, plant and equipment expenses $357,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 3.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 2.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $153,506
    Deposits held in domestic offices $153,506
    Deposits by Individuals, partnerships, and corporations $124,178
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $29,328
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $27,239
    Demand deposits $27,239
    Nontransaction accounts $126,267
    Money market deposit accounts (MMDAs) $30,085
    Other savings deposits (excluding MMDAs) $2,344
    Total time deposits $93,838
    Total time and savings deposits $126,267
    Noninterest-bearing deposits $10,004
    Interest-bearing deposits $143,502
    Retail deposits $123,726
    IRAs and Keogh plan accounts $2,917
    Brokered deposits $29,328
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $202,628
    Cash & Balances due from depository institutions $24,345
    Interest-bearing balances $13,735
    Total securities $9,854
    Federal funds sold & reverse repurchase $0
    Net loans and leases $155,929
    Loan and leases loss allowance $1,183
    Trading account assets $0
    Bank premises and fixed assets $4,235
    Other real estate owned $45
    Goodwill and other intangibles $318
    All other assets $7,902

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $202,628
    Total Liabilities $185,347
    Total deposits $153,506
    Interest-bearing deposits $143,502
    Deposits held in domestic offices $153,506
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $31,375
    Subordinated debt $0
    All other liabilities $466

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $155,929
    Loan and leases loss allowance $1,183
    Total loans and leases (domestic) $157,112
    All real estate loans $131,108
    Real estate loans in domestic offices $131,108
    Construction and development loans $9,194
    Residential 1-4 family construction $5,245
    Other construction, all land development and other land $3,949
    Loans secured by nonfarm nonresidential properties $48,020
    Nonfarm nonresidential secured by owner-occupied properties $10,304
    Commercial real estate & other non-farm, non-residential $37,716
    Multifamily residential real estate $5,121
    1-4 family residential loans $68,773
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $23,966
    To non-U.S. addressees $0
    Loans to individuals $2,038
    Credit card loans $36
    Related Plans $71
    Consumer Auto Loans $1,657
    Other loans to individuals $274
    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 $1,726
    Non 1-4 family restructured loans & leases $107
    Total loans and leases (foreign) $0

    SSB Bank had $155,929,000 of loans outstanding in 2019. $131,108,000 of loans were in real estate loans. $9,194,000 of loans were in development loans. $5,121,000 of loans were in multifamily mortgage loans. $68,773,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $36,000 of loans were in credit card loans. $1,657,000 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 332 $41,015 $123,539
    Nonfarm, nonresidential loans - <$100k 140 $6,906 $49,329
    Nonfarm, nonresidential loans - $100-250k 132 $15,743 $119,265
    Nonfarm, nonresidential loans - $250k-1MM 60 $18,366 $306,100
    Commercial & Industrial, US addressed loans - <$1MM 116 $18,297 $157,733
    Commercial & Industrial, US addressed loans - <$100k 62 $2,620 $42,258
    Commercial & Industrial, US addressed loans - $100-250k 27 $4,168 $154,370
    Commercial & Industrial, US addressed loans - $250k-1MM 27 $11,509 $426,259