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

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 Trenton among others. We have data for 16 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 a below average pick rate when compared to similar lenders. 1st Colonial Community Bank is typically an average 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%	4/21/24
30 Year Conventional Purchase	6.56%	4/21/24
30 Year Conventional Refi	6.47%	4/21/24
30 Year Cash-out Refi	6.49%	4/21/24
30 Year FHA Purchase	7.31%	4/21/24
30 Year FHA Refi	7.09%	4/21/24
30 Year VA Purchase	6.19%	4/21/24
30 Year USDA Purchase	6.75%	4/21/24
15 Year Conventional Purchase	6.10%	4/21/24
15 Year Conventional Refi	6.17%	4/21/24
15 Year Cash-out Refi	6.17%	4/21/24
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

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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

634

Origination Dollar Volume (All Markets)

$131,960,000

Employee count

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)	558	$108,720,000	$194,839	$4,368	4.61%
OCEAN CITY, NJ (FHA\|USDA\|VA)	23	$8,625,000	$375,000	$3,313	4.56%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	16	$5,070,000	$316,875	$4,881	4.41%
ATLANTIC CITY-HAMMONTON, NJ (FHA\|USDA\|VA)	15	$3,645,000	$243,000	$3,930	4.39%
TRENTON-PRINCETON, NJ (FHA\|USDA\|VA)	6	$2,890,000	$481,667	$8,959	4.75%
VINELAND-BRIDGETON, NJ (FHA\|USDA\|VA)	6	$790,000	$131,667	$3,431	4.96%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$395,000	$395,000	$3,425	3.50%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA\|USDA\|VA)	1	$315,000	$315,000	$8,777	4.25%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA\|USDA\|VA)	1	$265,000	$265,000	$7,335	3.38%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA\|USDA\|VA)	1	$245,000	$245,000	$2,913	3.99%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	1	$245,000	$245,000	$4,145	3.63%
SALISBURY, MD-DE (FHA\|USDA\|VA)	1	$225,000	$225,000	$3,006	3.38%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	1	$165,000	$165,000	$2,077	4.25%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$135,000	$135,000	$3,323	3.88%
READING, PA (FHA\|USDA\|VA)	1	$135,000	$135,000	$2,991	3.75%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	1	$95,000	$95,000	$3,285	3.50%

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

Their top states include:

New Jersey (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Delaware (FHA|USDA|VA)

Virginia (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.

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	500	$105,470,000	$210,940	$3,025	4.70%
FHA	117	$22,345,000	$190,983	$6,295	4.23%
VA	13	$3,575,000	$275,000	$22,747	3.86%
USDA	4	$570,000	$142,500	$5,021	4.16%

For 2019, 1st Colonial Community Bank's most frequently originated type of loan was Conventional, with 500 originations. Their 2nd most popular type was FHA, with 117 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	409	$88,305,000	$215,905	$5,340	4.53%
Refi	108	$24,750,000	$229,167	$2,543	4.61%
Cash Out Refi	49	$10,705,000	$218,469	$4,083	4.16%
Home Improvement	48	$6,420,000	$133,750	$252	5.36%
Other	20	$1,780,000	$89,000	$874	4.99%

For 2019, 1st Colonial Community Bank's most frequently cited loan purpose was Home Purchase, with 409 originations. The 2nd most popular reason was Refi, with 108 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	369	$85,655,000	$232,127	$5,373	4.29%
15 Year	110	$15,060,000	$136,909	$1,853	4.55%
10 Year	42	$7,360,000	$175,238	$1,127	4.90%
1 Year	39	$8,835,000	$226,538	$0	6.53%
Other	33	$9,365,000	$283,788	$1,965	5.07%
20 Year	31	$4,965,000	$160,161	$2,001	4.81%
5 Year	10	$720,000	$72,000	$239	4.95%

For 2019, 1st Colonial Community Bank's most frequently cited loan duration was 30 Year, with 369 originations. The 2nd most popular length was 15 Year, with 110 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	421	$86,675,000	$205,879
$2k-3k	24	$5,820,000	$242,500
$1k-2k	22	$3,150,000	$143,182
$3k-4k	8	$1,990,000	$248,750
$5k+	5	$3,195,000	$639,000
$4k-5k	2	$720,000	$360,000

1st Colonial Community Bank's average total fees were $5,373, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 421 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	272	$59,760,000	$219,706
3-4%	197	$45,075,000	$228,807
5-6%	132	$20,400,000	$154,545
6-7%	22	$5,220,000	$237,273
7-8%	9	$1,225,000	$136,111
2.5-3%	2	$280,000	$140,000

During 2019, 1st Colonial Community Bank's average interest rate for loans was 4.29%, while their most frequently originated rate bucket for loans was 4-5%, with 272 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	253	$37,155,000	$146,858	$3,841	4.63%
$200k-400k	224	$61,300,000	$273,661	$4,971	4.35%
$100,000 or less	113	$6,785,000	$60,044	$1,269	4.95%
$400k-600k	30	$14,040,000	$468,000	$12,402	4.41%
$600k-1MM	10	$7,150,000	$715,000	$5,621	4.96%
$1MM+	4	$5,530,000	$1,382,500	$16,653	5.34%

2019 saw 1st Colonial Community Bank place emphasis on $100k-200k loans with 253 originations, totaling $37,155,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	128	$26,670,000	$208,359	$5,788	4.35%
$150k-250k	112	$24,170,000	$215,804	$3,099	4.48%
$50k-75k	107	$17,115,000	$159,953	$4,236	4.35%
$75k-100k	95	$17,205,000	$181,105	$4,427	4.38%
$50k or less	51	$6,325,000	$124,020	$3,680	4.50%
$250k+	49	$18,705,000	$381,735	$4,440	4.40%

1st Colonial Community Bank lent most frequently to those with incomes in the $100k-150k range, with 128 originations. The second most popular income band? $150k-250k, with 112 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	104	$20,880,000	$200,769	$3,982	4.36%
20-30%	83	$16,565,000	$199,578	$3,727	4.27%
40%	27	$4,645,000	$172,037	$3,695	4.38%
50-60%	26	$5,160,000	$198,462	$5,686	4.15%
42%	26	$5,490,000	$211,154	$3,505	4.21%
44%	25	$5,205,000	$208,200	$4,767	4.44%
<20%	24	$3,690,000	$153,750	$2,433	4.46%
46%	23	$5,535,000	$240,652	$13,450	4.33%
43%	22	$3,850,000	$175,000	$3,762	4.57%
37%	22	$5,000,000	$227,273	$4,335	4.21%
39%	19	$4,465,000	$235,000	$3,958	4.33%
47%	19	$4,225,000	$222,368	$3,737	4.61%
49%	19	$3,265,000	$171,842	$3,194	4.51%
36%	19	$3,705,000	$195,000	$4,503	4.10%
45%	18	$3,730,000	$207,222	$4,063	4.48%
41%	17	$3,375,000	$198,529	$3,937	4.61%
38%	16	$3,210,000	$200,625	$3,835	4.66%
48%	14	$3,920,000	$280,000	$4,974	4.21%
>60%	7	$1,875,000	$267,857	$3,130	4.55%

1st Colonial Community Bank lent most frequently to those with DTI ratios of 30-36%, with 104 originations. The next most common DTI ratio? 20-30%, with 83 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	437	$86,705,000	$198,410	$4,438	4.40%
Not applicable	89	$20,025,000	$225,000	$0	5.72%
Not provided	74	$17,110,000	$231,216	$3,738	4.45%
Black	24	$4,510,000	$187,917	$5,124	4.40%
Asian	8	$1,910,000	$238,750	$4,032	4.28%
American Indian	1	$1,505,000	$1,505,000	$0	5.00%
Native Hawaiian or Islander	1	$195,000	$195,000	$3,354	3.75%

Approval Rates

Total approvals of all applications
95.81%

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
88.17%

1st Colonial Community Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	634	$131,960,000	$208,139

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	11	$5,385,000	$489,545
Single Family (1-4 Units):Site-Built	623	$126,575,000	$203,170

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	42	$4,930,000	$117,381	$1,311	4.65%
40-60%	58	$12,660,000	$218,276	$3,213	4.75%
60-80%	218	$50,450,000	$231,422	$3,692	4.80%
80-100%	268	$59,760,000	$222,985	$5,048	4.35%
Over 100%	8	$1,950,000	$243,750	$33,076	3.89%
Under 20%	40	$2,210,000	$55,250	$494	4.91%

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	$423,847
1st Colonial Community Bank	321 Broadway Westville, NJ 8093	Full Service B&M	$63,339

For 2019, 1st Colonial Community Bank had 2 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$24,204
Net interest income	$18,767
Total noninterest income	$2,768
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$128
Trading account gains and fees	$0
Additional Noninterest Income	$2,640
Pre-tax net operating income	$4,236
Securities gains (or losses, -)	$4
Income before extraordinary items	$3,350
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$3,350
Minority interest net income	$0
Net income	$3,350
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$3,346

1st Colonial Community Bank's gross interest income from loans was $24,204,000.
1st Colonial Community Bank's net interest income from loans was $18,767,000.
1st Colonial Community Bank's fee based income from loans was $128,000.
1st Colonial Community Bank's net income from loans was $3,350,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$5,437
Provision for credit losses	$3,184
Total noninterest expense	$14,115
Salaries and employee benefits	$7,704
Premises and equipment expense	$926
Additional noninterest expense	$5,485
Applicable income taxes	$890
Net charge-offs	$2,140
Cash dividends	$0

1st Colonial Community Bank's interest expense for loans was $5,437,000.
1st Colonial Community Bank's payroll and benefits expense were $7,704,000.
1st Colonial Community Bank's property, plant and equipment expenses $926,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	1.0%
Real Estate loans	0.0%
Construction & Land Development loans	1.0%
Nonfarm, nonresidential loans	1.0%
Multifamily residential loans	1.0%
1-4 family residential loans	0.0%
HELOC loans	0.0%
All other family	0.0%
Commercial & industrial loans	9.0%
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	$522,385
Deposits held in domestic offices	$522,385
Deposits by Individuals, partnerships, and corporations	$295,208
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$225,012
Deposits by Commercial banks and other depository institutions in U.S.	$2,165
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$73,953
Demand deposits	$13,975
Nontransaction accounts	$448,432
Money market deposit accounts (MMDAs)	$11,777
Other savings deposits (excluding MMDAs)	$277,873
Total time deposits	$158,782
Total time and savings deposits	$508,410
Noninterest-bearing deposits	$61,613
Interest-bearing deposits	$460,772
Retail deposits	$431,634
IRAs and Keogh plan accounts	$9,593
Brokered deposits	$21,000
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$574,936
Cash & Balances due from depository institutions	$46,348
Interest-bearing balances	$45,500
Total securities	$93,991
Federal funds sold & reverse repurchase	$9
Net loans and leases	$417,576
Loan and leases loss allowance	$6,671
Trading account assets	$0
Bank premises and fixed assets	$691
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$16,321

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$574,936
Total Liabilities	$527,426
Total deposits	$522,385
Interest-bearing deposits	$460,772
Deposits held in domestic offices	$522,385
% insured (estimated)	$48
Federal funds purchased and repurchase agreements	$2,290
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$2,751

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$417,576
Loan and leases loss allowance	$6,671
Total loans and leases (domestic)	$424,247
All real estate loans	$391,823
Real estate loans in domestic offices	$391,823
Construction and development loans	$31,738
Residential 1-4 family construction	$25,266
Other construction, all land development and other land	$6,472
Loans secured by nonfarm nonresidential properties	$95,542
Nonfarm nonresidential secured by owner-occupied properties	$57,649
Commercial real estate & other non-farm, non-residential	$37,893
Multifamily residential real estate	$12,615
1-4 family residential loans	$251,681
Farmland loans	$247
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$25,664
To non-U.S. addressees	$0
Loans to individuals	$3,994
Credit card loans	$0
Related Plans	$82
Consumer Auto Loans	$2,385
Other loans to individuals	$1,527
All other loans & leases	$2,766
Loans to foreign governments and official institutions	$0
Other loans	$367
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	$1,365
Non 1-4 family restructured loans & leases	$1,005
Total loans and leases (foreign)	$0

1st Colonial Community Bank had $417,576,000 of loans outstanding in 2019. $391,823,000 of loans were in real estate loans. $31,738,000 of loans were in development loans. $12,615,000 of loans were in multifamily mortgage loans. $251,681,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,385,000 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	316	$64,384	$203,747
Nonfarm, nonresidential loans - <$100k	53	$2,299	$43,377
Nonfarm, nonresidential loans - $100-250k	134	$17,930	$133,806
Nonfarm, nonresidential loans - $250k-1MM	129	$44,155	$342,287
Commercial & Industrial, US addressed loans - <$1MM	217	$19,322	$89,041
Commercial & Industrial, US addressed loans - <$100k	134	$4,253	$31,739
Commercial & Industrial, US addressed loans - $100-250k	44	$4,971	$112,977
Commercial & Industrial, US addressed loans - $250k-1MM	39	$10,098	$258,923
Farmland loans - <$1MM	2	$247	$123,500
Farmland loans - <$100k	1	$50	$50,000
Farmland loans - $100-250k	1	$197	$197,000