1st Colonial Community Bank Mortgage Rates, Fees & Info

Collingswood, NJ

LEI: 54930089Y8VTOF8RPD25

Tax ID: 22-3719127

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    1st Colonial Community Bank is a smaller bank specializing in Home Purchase 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 by origination volume include: Philadelphia, Ocean City, New York, Atlantic City, and Vineland among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    1st Colonial Community 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. 1st Colonial Community Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.23% 12/16/24
    30 Year Conventional Purchase 6.56% 12/16/24
    30 Year Conventional Refi 6.47% 12/16/24
    30 Year Cash-out Refi 6.49% 12/16/24
    30 Year FHA Purchase 7.31% 12/16/24
    30 Year FHA Refi 7.09% 12/16/24
    30 Year VA Purchase 6.19% 12/16/24
    30 Year USDA Purchase 6.75% 12/16/24
    15 Year Conventional Purchase 6.10% 12/16/24
    15 Year Conventional Refi 6.17% 12/16/24
    15 Year Cash-out Refi 6.17% 12/16/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    1st Colonial Community Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from 1st Colonial Community Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    664

    Origination Dollar Volume (All Markets)

    $122,900,000

    Employee count

    66

    Awards

    1st Colonial Community Bank 30 Year Conventional Loans silver 1st Colonial Community Bank FHA Loans silver
    Show all (2) awards

    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
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 608 $105,610,000 $173,701 $3,099 5.06%
    OCEAN CITY, NJ (FHA|USDA|VA) 19 $8,165,000 $429,737 $2,919 4.90%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 13 $3,975,000 $305,769 $3,112 4.88%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 15 $3,625,000 $241,667 $4,204 4.83%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 5 $595,000 $119,000 $3,091 4.78%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $405,000 $405,000 $4,981 4.75%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,295 4.50%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $175,000 $175,000 $2,841 4.63%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $145,000 $145,000 $5,753 4.63%
    1st Colonial Community Bank's top markets include Philadelphia, Ocean City, New York, Atlantic City, and Vineland among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against 1st Colonial Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 55
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    Similarity Rank: 63
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    Haddon Savings Bank
    Similarity Rank: 116
    Freehold Savings Bank
    Similarity Rank: 120
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125
    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 126

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 574 $105,470,000 $183,746 $2,445 5.11%
    FHA 84 $16,100,000 $191,667 $6,366 4.62%
    VA 4 $1,080,000 $270,000 $7,187 4.59%
    USDA 2 $250,000 $125,000 $4,006 4.88%

    For 2018, 1st Colonial Community Bank's most frequently originated type of loan was Conventional, with 574 originations. Their 2nd most popular type was FHA, with 84 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 400 $85,910,000 $214,775 $4,461 5.07%
    Cash Out Refi 89 $15,965,000 $179,382 $1,858 4.97%
    Home Improvement 60 $4,850,000 $80,833 $546 5.23%
    Other 60 $4,590,000 $76,500 $816 5.01%
    Refi 55 $11,585,000 $210,636 $2,470 4.77%

    For 2018, 1st Colonial Community Bank's most frequently cited loan purpose was Home Purchase, with 400 originations. The 2nd most popular reason was Cash Out Refi, with 89 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 314 $71,400,000 $227,389 $4,525 4.80%
    15 Year 128 $11,460,000 $89,531 $758 4.97%
    1 Year 64 $12,280,000 $191,875 $0 6.52%
    Other 60 $15,220,000 $253,667 $1,567 5.13%
    20 Year 43 $8,255,000 $191,977 $1,254 5.03%
    10 Year 31 $2,845,000 $91,774 $855 4.84%
    5 Year 24 $1,440,000 $60,000 $1,500 4.72%

    For 2018, 1st Colonial Community Bank's most frequently cited loan duration was 30 Year, with 314 originations. The 2nd most popular length was 15 Year, with 128 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 438 $74,390,000 $169,840
    $1k-2k 34 $4,260,000 $125,294
    $2k-3k 26 $5,050,000 $194,231
    $3k-4k 9 $2,565,000 $285,000
    $4k-5k 4 $1,500,000 $375,000
    $5k+ 2 $1,780,000 $890,000

    1st Colonial Community Bank's average total fees were $4,525, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 438 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 438 $84,600,000 $193,151
    5-6% 162 $28,100,000 $173,457
    6-7% 38 $6,340,000 $166,842
    3-4% 15 $2,315,000 $154,333
    7-8% 11 $1,545,000 $140,455

    During 2018, 1st Colonial Community Bank's average interest rate for loans was 4.80%, while their most frequently originated rate bucket for loans was 4-5%, with 438 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 250 $35,760,000 $143,040 $3,278 5.18%
    $100,000 or less 186 $10,270,000 $55,215 $1,116 5.06%
    $200k-400k 177 $48,665,000 $274,944 $4,800 4.85%
    $400k-600k 42 $19,330,000 $460,238 $4,500 4.97%
    $600k-1MM 7 $5,045,000 $720,714 $4,792 5.02%
    $1MM+ 2 $3,830,000 $1,915,000 $18,129 4.88%

    2018 saw 1st Colonial Community Bank place emphasis on $100k-200k loans with 250 originations, totaling $35,760,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 141 $23,795,000 $168,759 $3,022 4.84%
    $150k-250k 104 $23,090,000 $222,019 $2,934 4.93%
    $50k-75k 102 $14,510,000 $142,255 $3,433 4.80%
    $75k-100k 83 $12,675,000 $152,711 $3,201 4.84%
    $250k+ 51 $14,965,000 $293,431 $3,416 4.92%
    $50k or less 40 $4,220,000 $105,500 $2,879 4.82%

    1st Colonial Community Bank lent most frequently to those with incomes in the $100k-150k range, with 141 originations. The second most popular income band? $150k-250k, with 104 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 92 $16,640,000 $180,870 $2,859 4.83%
    30-36% 73 $12,855,000 $176,096 $3,290 4.85%
    <20% 33 $5,255,000 $159,242 $2,081 4.84%
    46% 30 $5,410,000 $180,333 $3,506 4.71%
    50-60% 28 $4,950,000 $176,786 $3,993 4.78%
    43% 23 $3,005,000 $130,652 $2,244 4.86%
    48% 23 $3,755,000 $163,261 $3,275 4.79%
    38% 23 $5,085,000 $221,087 $3,826 4.81%
    42% 21 $4,435,000 $211,190 $2,941 4.92%
    39% 20 $4,330,000 $216,500 $4,440 4.76%
    47% 20 $3,670,000 $183,500 $3,553 4.88%
    44% 20 $3,300,000 $165,000 $3,162 4.83%
    45% 20 $2,710,000 $135,500 $2,981 4.95%
    41% 19 $2,715,000 $142,895 $2,663 4.97%
    37% 18 $2,860,000 $158,889 $2,825 4.88%
    36% 17 $2,385,000 $140,294 $2,805 4.79%
    40% 14 $2,340,000 $167,143 $3,592 4.88%
    49% 12 $2,150,000 $179,167 $3,422 4.86%
    >60% 6 $1,540,000 $256,667 $2,811 4.88%

    1st Colonial Community Bank lent most frequently to those with DTI ratios of 20-30%, with 92 originations. The next most common DTI ratio? 30-36%, with 73 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 419 $73,105,000 $174,475 $3,130 4.85%
    Not applicable 140 $28,980,000 $207,000 $0 5.72%
    Not provided 80 $17,380,000 $217,250 $2,938 4.91%
    Black 17 $1,965,000 $115,588 $3,486 4.83%
    Asian 6 $1,000,000 $166,667 $4,079 4.85%
    Native Hawaiian or Islander 1 $235,000 $235,000 $4,532 4.88%
    Asian Indian 1 $235,000 $235,000 $4,956 5.88%

    Approval Rates

    Total approvals of all applications
    97.82%

    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
    92.17%

    1st Colonial Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 664 $122,900,000 $185,090

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 13 $4,265,000 $328,077
    Single Family (1-4 Units):Site-Built 651 $118,635,000 $182,235

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 51 $6,895,000 $135,196 $941 4.84%
    40-60% 73 $11,215,000 $153,630 $2,351 5.21%
    60-80% 236 $52,370,000 $221,907 $3,125 5.29%
    80-100% 212 $45,940,000 $216,698 $4,753 4.80%
    Over 100% 9 $2,765,000 $307,222 $5,757 4.74%
    Under 20% 83 $3,715,000 $44,759 $575 4.97%

    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 $448,110
    1st Colonial Community Bank 321 Broadway Westville, NJ 8093 Full Service B&M $60,307

    For 2018, 1st Colonial Community Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,683
    Net interest income $18,629
    Total noninterest income $3,179
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $129
    Trading account gains and fees $0
    Additional Noninterest Income $3,050
    Pre-tax net operating income $7,118
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,348
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,348
    Minority interest net income $0
    Net income $5,348
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,348

    1st Colonial Community Bank's gross interest income from loans was $22,683,000.
    1st Colonial Community Bank's net interest income from loans was $18,629,000.
    1st Colonial Community Bank's fee based income from loans was $129,000.
    1st Colonial Community Bank's net income from loans was $5,348,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,054
    Provision for credit losses $1,477
    Total noninterest expense $13,213
    Salaries and employee benefits $7,526
    Premises and equipment expense $927
    Additional noninterest expense $4,760
    Applicable income taxes $1,770
    Net charge-offs $708
    Cash dividends $0

    1st Colonial Community Bank's interest expense for loans was $4,054,000.
    1st Colonial Community Bank's payroll and benefits expense were $7,526,000.
    1st Colonial Community Bank's property, plant and equipment expenses $927,000.

    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 1.0%
    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 $490,356
    Deposits held in domestic offices $490,356
    Deposits by Individuals, partnerships, and corporations $283,457
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $204,750
    Deposits by Commercial banks and other depository institutions in U.S. $2,149
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $59,000
    Demand deposits $17,055
    Nontransaction accounts $431,356
    Money market deposit accounts (MMDAs) $15,928
    Other savings deposits (excluding MMDAs) $260,603
    Total time deposits $154,825
    Total time and savings deposits $473,301
    Noninterest-bearing deposits $54,298
    Interest-bearing deposits $436,058
    Retail deposits $405,567
    IRAs and Keogh plan accounts $8,818
    Brokered deposits $31,734
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $543,706
    Cash & Balances due from depository institutions $12,105
    Interest-bearing balances $11,489
    Total securities $115,093
    Federal funds sold & reverse repurchase $9
    Net loans and leases $401,897
    Loan and leases loss allowance $5,627
    Trading account assets $0
    Bank premises and fixed assets $798
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $13,804

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $543,706
    Total Liabilities $500,430
    Total deposits $490,356
    Interest-bearing deposits $436,058
    Deposits held in domestic offices $490,356
    % insured (estimated) $51
    Federal funds purchased and repurchase agreements $8,157
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,917

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $401,897
    Loan and leases loss allowance $5,627
    Total loans and leases (domestic) $407,524
    All real estate loans $373,334
    Real estate loans in domestic offices $373,334
    Construction and development loans $35,093
    Residential 1-4 family construction $30,626
    Other construction, all land development and other land $4,467
    Loans secured by nonfarm nonresidential properties $83,355
    Nonfarm nonresidential secured by owner-occupied properties $51,777
    Commercial real estate & other non-farm, non-residential $31,578
    Multifamily residential real estate $12,357
    1-4 family residential loans $242,529
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $26,691
    To non-U.S. addressees $0
    Loans to individuals $4,500
    Credit card loans $0
    Related Plans $105
    Consumer Auto Loans $2,591
    Other loans to individuals $1,804
    All other loans & leases $2,999
    Loans to foreign governments and official institutions $0
    Other loans $402
    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 $1,919
    Non 1-4 family restructured loans & leases $1,262
    Total loans and leases (foreign) $0

    1st Colonial Community Bank had $401,897,000 of loans outstanding in 2018. $373,334,000 of loans were in real estate loans. $35,093,000 of loans were in development loans. $12,357,000 of loans were in multifamily mortgage loans. $242,529,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,591,000 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 286 $56,805 $198,619
    Nonfarm, nonresidential loans - <$100k 49 $2,251 $45,939
    Nonfarm, nonresidential loans - $100-250k 129 $16,860 $130,698
    Nonfarm, nonresidential loans - $250k-1MM 108 $37,694 $349,019
    Commercial & Industrial, US addressed loans - <$1MM 218 $17,528 $80,404
    Commercial & Industrial, US addressed loans - <$100k 135 $4,083 $30,244
    Commercial & Industrial, US addressed loans - $100-250k 48 $5,257 $109,521
    Commercial & Industrial, US addressed loans - $250k-1MM 35 $8,188 $233,943