1st Colonial Community Bank Mortgage Rates, Fees & Info

Collingswood, NJ

LEI: 54930089Y8VTOF8RPD25

Tax ID: 22-3719127

5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

1st Colonial Community Bank is a smaller bank specializing in Home Purchase and Refi loans. 1st Colonial 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 include Philadelphia, New York, Ocean City, Atlantic City, and Trenton among others. 1st Colonial Community 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. 1st Colonial Community Bank is typically an average fee lendor.


Originations

930

Origination Dollar Volume (All Markets)

$312,700,000

Employee count

102 Show all (5) awards

Relative Rate

1st Colonial Community Bank's average 30 year fixed rate mortgage of loans were 3.03%.

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

This yields a difference of -0.12%.

Relative Fees

1st Colonial Community Bank's average total fees for a 30 year fixed rate mortgage are $4,994.

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 713 $225,005,000 $315,575 $4,513 3.11%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 68 $32,820,000 $482,647 $5,745 3.07%
OCEAN CITY, NJ (FHA|USDA|VA) 42 $25,620,000 $610,000 $5,125 2.99%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 59 $17,555,000 $297,542 $4,438 3.11%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 11 $2,535,000 $230,455 $5,648 2.84%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 12 $1,910,000 $159,167 $4,296 3.71%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 4 $1,530,000 $382,500 $3,992 3.22%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $885,000 $885,000 $8,007 3.00%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 5 $635,000 $127,000 $0 4.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $580,000 $290,000 $4,096 3.06%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $535,000 $535,000 $5,907 3.25%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $485,000 $485,000 $3,423 2.50%
SALISBURY, MD-DE (FHA|USDA|VA) 1 $445,000 $445,000 $3,986 3.13%
LANCASTER, PA (FHA|USDA|VA) 1 $405,000 $405,000 $6,279 2.63%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $315,000 $315,000 $4,719 2.75%
Outside of Metro Areas 1 $305,000 $305,000 $4,681 2.99%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $285,000 $285,000 $3,236 2.38%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $275,000 $275,000 $5,294 2.88%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $205,000 $205,000 $2,022 2.75%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $160,000 $80,000 $2,553 2.38%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $125,000 $125,000 $2,350 3.00%
EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $85,000 $85,000 $2,604 2.75%

1st Colonial Community Bank's top markets include Philadelphia, New York, Ocean City, Atlantic City, and Trenton among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 832 $289,240,000 $347,644 $4,122 3.13%
FHA 82 $19,300,000 $235,366 $7,825 2.95%
VA 10 $2,870,000 $287,000 $10,842 2.73%
USDA 6 $1,290,000 $215,000 $5,660 2.67%

For the 2021 period, 1st Colonial Community Bank's most frequently originated loan type of loans were Conventional, with 832 originations. Their 2nd most popular type is FHA, with 82 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 452 $153,320,000 $339,204 $5,428 3.19%
Refi 278 $89,000,000 $320,144 $3,758 2.93%
Cash Out Refi 165 $56,465,000 $342,212 $4,153 2.98%
Home Improvement 26 $11,970,000 $460,385 $4,807 4.20%
Other 9 $1,945,000 $216,111 $2,766 3.47%

For the 2021, 1st Colonial Community Bank's most frequently cited loan purpose of loans were Home Purchase, with 452 originations. The 2nd most popular reason of loans were Refi, with 278 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 625 $200,525,000 $320,840 $4,994 3.03%
15 Year 136 $31,590,000 $232,279 $3,280 2.49%
5 Year 68 $23,540,000 $346,176 $0 4.37%
20 Year 36 $10,970,000 $304,722 $3,527 2.77%
1 Year 29 $14,515,000 $500,517 $11,836 4.39%
10 Year 18 $12,480,000 $693,333 $2,534 3.48%
Other 18 $19,080,000 $1,060,000 $3,742 3.82%

For the 2021, 1st Colonial Community Bank's most frequently cited loan length of loans were 30 Year, with 625 originations. The 2nd most popular length of loans were 15 Year, with 136 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 587 $183,515,000 $312,632
$1k-2k 75 $20,375,000 $271,667
$2k-3k 33 $10,695,000 $324,091
$3k-4k 23 $9,575,000 $416,304
$5k+ 10 $9,270,000 $927,000

$4,994 of loans were 1st Colonial Community Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 587 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 377 $114,385,000 $303,408
3-4% 254 $94,230,000 $370,984
<2.5% 180 $46,510,000 $258,389
4-5% 114 $55,780,000 $489,298
5-6% 5 $1,795,000 $359,000

During 2021, 1st Colonial Community Bank's average interest rate of loans were 3.03%, while their most frequently originated rate bucket of loans were 2.5-3%, with 377 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 391 $109,705,000 $280,575 $4,747 3.00%
$100k-200k 278 $43,290,000 $155,719 $3,686 3.06%
$400k-600k 127 $60,805,000 $478,780 $5,397 3.08%
$100,000 or less 59 $4,185,000 $70,932 $2,165 3.62%
$600k-1MM 43 $32,165,000 $748,023 $6,649 3.27%
$1MM+ 32 $62,550,000 $1,954,688 $9,045 3.72%

2021 saw 1st Colonial Community Bank place emphasis on $200k-400k loans with 391 originations, totaling $109,705,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 193 $51,835,000 $268,575 $4,368 2.89%
$150k-250k 164 $56,330,000 $343,476 $4,553 3.01%
$250k+ 144 $77,800,000 $540,278 $5,388 2.98%
$50k-75k 143 $27,485,000 $192,203 $4,639 2.91%
$75k-100k 127 $28,625,000 $225,394 $4,672 2.93%
$50k or less 47 $6,775,000 $144,149 $4,031 3.04%

1st Colonial Community Bank lent most frequently to those with incomes in the $100k-150k range, with 193 originations. The second most popular income band? $150k-250k, with 164 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 184 $57,990,000 $315,163 $4,297 2.88%
30-36% 152 $42,990,000 $282,829 $4,519 2.97%
<20% 61 $19,765,000 $324,016 $4,203 2.70%
42% 40 $13,290,000 $332,250 $4,476 2.91%
41% 39 $11,335,000 $290,641 $4,737 3.03%
38% 36 $9,630,000 $267,500 $4,156 3.15%
37% 32 $13,490,000 $421,563 $4,948 3.06%
49% 32 $8,800,000 $275,000 $3,759 2.90%
36% 32 $9,610,000 $300,313 $4,529 2.82%
40% 31 $9,255,000 $298,548 $5,454 2.93%
44% 30 $7,880,000 $262,667 $4,553 3.12%
43% 28 $8,500,000 $303,571 $5,368 3.04%
45% 28 $6,750,000 $241,071 $4,486 3.06%
39% 26 $8,100,000 $311,538 $5,744 2.97%
47% 21 $6,055,000 $288,333 $4,992 2.92%
48% 18 $4,820,000 $267,778 $4,225 2.92%
46% 16 $7,980,000 $498,750 $6,910 2.93%
50-60% 14 $4,230,000 $302,143 $7,759 3.03%
>60% 1 $215,000 $215,000 $11,138 2.88%

1st Colonial Community Bank lent most frequently to those with DTI ratios of 20-30%, with 184 originations. The next most common DTI ratio? 30-36%, with 152 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 725 $216,065,000 $298,021 $4,480 2.94%
Not applicable 101 $60,065,000 $594,703 $0 4.37%
Not provided 51 $21,005,000 $411,863 $5,639 3.02%
Asian 22 $8,410,000 $382,273 $4,784 3.04%
Black 27 $6,415,000 $237,593 $6,838 3.17%
American Indian 4 $740,000 $185,000 $5,038 2.72%

Approval Rates

Total approvals of all applications
95.45%

1st Colonial Community 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
89.95%

1st Colonial Community Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 930 $312,700,000 $336,237

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
930 $312,700,000 $336,237

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 35 $8,695,000 $248,429 $4,093 2.88%
40-60% 141 $41,915,000 $297,270 $3,457 2.92%
60-80% 437 $159,415,000 $364,794 $4,167 3.23%
80-100% 298 $91,860,000 $308,255 $5,602 2.98%
Over 100% 8 $3,010,000 $376,250 $11,277 3.23%
Under 20% 10 $7,790,000 $779,000 $683 4.47%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
1st Colonial Community Bank 1040 Haddon Avenue Collingswood, NJ 8108 Full Service B&M $526,554
1st Colonial Community Bank 321 Broadway Westville, NJ 8093 Full Service B&M $77,891
1st Colonial Community Bank 440 Linfield Trappe Road Limerick, PA 19468 Full Service B&M $11,238

For 2021, 1st Colonial Community Bank had 3 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $25,194
Net interest income $22,944
Total noninterest income $9,121
Gross Fiduciary activities income $0
Service charges on deposit accounts $92
Trading account gains and fees $0
Additional Noninterest Income $9,029
Pre-tax net operating income $10,911
Securities gains (or losses, -) $110
Income before extraordinary items $8,106
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $8,106
Minority interest net income $0
Net income $8,106
Sale, conversion, retirement of capital stock, net $0
Net operating income $8,019

1st Colonial Community Bank's gross interest income from loans was $25,194,000.
1st Colonial Community Bank's net interest income from loans was $22,944,000.
1st Colonial Community Bank's fee based income from loans was $92,000.
1st Colonial Community Bank's net income from loans was $8,106,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,250
Provision for credit losses $1,715
Total noninterest expense $19,439
Salaries and employee benefits $12,300
Premises and equipment expense $1,246
Additional noninterest expense $5,893
Applicable income taxes $2,915
Net charge-offs $433
Cash dividends $4,400

1st Colonial Community Bank's interest expense for loans was $2,250,000.
1st Colonial Community Bank's payroll and benefits expense were $12,300,000.
1st Colonial Community Bank's property, plant and equipment expenses $1,246,000.

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 3.0%
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 1.0%
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 $612,793
Deposits held in domestic offices $612,793
Deposits by Individuals, partnerships, and corporations $376,857
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $235,443
Deposits by Commercial banks and other depository institutions in U.S. $493
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $82,071
Demand deposits $28,361
Nontransaction accounts $530,722
Money market deposit accounts (MMDAs) $42,791
Other savings deposits (excluding MMDAs) $360,631
Total time deposits $127,300
Total time and savings deposits $584,432
Noninterest-bearing deposits $95,241
Interest-bearing deposits $517,552
Retail deposits $572,534
IRAs and Keogh plan accounts $12,234
Brokered deposits $4,776
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $682,068
Cash & Balances due from depository institutions $40,402
Interest-bearing balances $39,601
Total securities $111,807
Federal funds sold & reverse repurchase $24
Net loans and leases $504,934
Loan and leases loss allowance $6,906
Trading account assets $0
Bank premises and fixed assets $1,072
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $23,829

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $682,068
Total Liabilities $616,628
Total deposits $612,793
Interest-bearing deposits $517,552
Deposits held in domestic offices $612,793
% insured (estimated) $49
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $3,835

Issued Loan Types

Type Value (in 000's)
Net loans and leases $504,934
Loan and leases loss allowance $6,906
Total loans and leases (domestic) $511,840
All real estate loans $466,579
Real estate loans in domestic offices $466,579
Construction and development loans $50,523
Residential 1-4 family construction $23,547
Other construction, all land development and other land $26,976
Loans secured by nonfarm nonresidential properties $105,441
Nonfarm nonresidential secured by owner-occupied properties $56,060
Commercial real estate & other non-farm, non-residential $49,381
Multifamily residential real estate $21,782
1-4 family residential loans $287,772
Farmland loans $1,061
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $40,438
To non-U.S. addressees $0
Loans to individuals $1,406
Credit card loans $0
Related Plans $61
Consumer Auto Loans $559
Other loans to individuals $786
All other loans & leases $3,417
Loans to foreign governments and official institutions $0
Other loans $315
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $13,179
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $283
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

1st Colonial Community Bank had $504,934,000 of loans outstanding in 2021. $466,579,000 of loans were in real estate loans. $50,523,000 of loans were in development loans. $21,782,000 of loans were in multifamily mortgage loans. $287,772,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $559,000 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 298 $59,539 $199,795
Nonfarm, nonresidential loans - <$100k 30 $1,453 $48,433
Nonfarm, nonresidential loans - $100-250k 136 $17,012 $125,088
Nonfarm, nonresidential loans - $250k-1MM 132 $41,074 $311,167
Commercial & Industrial, US addressed loans - <$1MM 360 $30,960 $86,000
Commercial & Industrial, US addressed loans - <$100k 218 $5,898 $27,055
Commercial & Industrial, US addressed loans - $100-250k 70 $7,710 $110,143
Commercial & Industrial, US addressed loans - $250k-1MM 72 $17,352 $241,000
Farmland loans - <$1MM 2 $270 $135,000
Farmland loans - <$100k 1 $98 $98,000
Farmland loans - $100-250k 1 $172 $172,000