1st Summit Bank Mortgage Rates, Fees & Info

Johnstown, PA

LEI: 5493009HFRW3TN5NRR78

Tax ID: 25-0773370

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 Summit Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. 1st Summit Bank has a high proportion of conventional loans. Their top markets by origination volume include: Johnstown, Pittsburgh, Somerset, Indiana, and Altoona among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    1st Summit 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 Summit 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) 6.27% 12/16/24
    30 Year Conventional Purchase 6.21% 12/16/24
    30 Year Conventional Refi 6.23% 12/16/24
    15 Year Conventional Purchase 5.69% 12/16/24
    15 Year Conventional Refi 5.37% 12/16/24
    15 Year Cash-out Refi 5.37% 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 Summit Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from 1st Summit 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

    387

    Origination Dollar Volume (All Markets)

    $47,065,000

    Employee count

    181 Show all (7) 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
    JOHNSTOWN, PA (FHA|USDA|VA) 216 $22,080,000 $102,222 $1,734 4.48%
    PITTSBURGH, PA (FHA|USDA|VA) 54 $9,600,000 $177,778 $2,638 4.91%
    Somerset, PA (FHA|USDA|VA) 47 $4,605,000 $97,979 $1,948 4.89%
    Indiana, PA (FHA|USDA|VA) 26 $3,300,000 $126,923 $2,333 4.65%
    ALTOONA, PA (FHA|USDA|VA) 20 $1,980,000 $99,000 $1,967 4.99%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $840,000 $420,000 $5,504 4.13%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 2 $580,000 $290,000 $2,805 4.06%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 3 $565,000 $188,333 $2,811 4.67%
    Jackson, WY-ID (FHA|USDA|VA) 1 $505,000 $505,000 $0 6.25%
    SAVANNAH, GA (FHA|USDA|VA) 1 $485,000 $485,000 $0 4.63%
    DuBois, PA (FHA|USDA|VA) 2 $470,000 $235,000 $2,508 4.56%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $395,000 $395,000 $5,091 3.38%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 1 $325,000 $325,000 $0 3.75%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $225,000 $225,000 $2,877 4.50%
    RICHMOND, VA (FHA|USDA|VA) 1 $215,000 $215,000 $3,014 4.38%
    Outside of Metro Areas 3 $215,000 $71,667 $1,805 5.13%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 2 $210,000 $105,000 $1,295 4.75%
    STATE COLLEGE, PA (FHA|USDA|VA) 1 $175,000 $175,000 $629 4.50%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $105,000 $105,000 $2,413 5.25%
    St. Marys, PA (FHA|USDA|VA) 1 $95,000 $95,000 $0 7.50%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $95,000 $95,000 $1,573 4.38%
    1st Summit Bank's top markets include Johnstown, Pittsburgh, Somerset, Indiana, and Altoona among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Wyoming (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Similar Lenders

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

    Westmoreland Federal Savings
    Similarity Rank: 12
    TRI BORO
    Similarity Rank: 25
    Commercial Bank and Trust of PA
    Similarity Rank: 69
    HANCOCK COUNTY SAVINGS BANK, FSB, INC.
    Similarity Rank: 88
    West View Savings Bank
    Similarity Rank: 102
    UNIFIRST MORTGAGE CORPORATION
    Similarity Rank: 135
    First Federal Savings and Loan Association of Greene Co
    Similarity Rank: 152
    M. S. Flynn, Inc.
    Similarity Rank: 204
    WELCOME HOME FINANCE, L.P.
    Similarity Rank: 348
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 570

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 383 $46,245,000 $120,744 $1,960 4.63%
    HELOC 4 $820,000 $205,000 n/a 5.56%

    For 2018, 1st Summit Bank's most frequently originated type of loan was Conventional, with 383 originations. Their 2nd most popular type was HELOC, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 222 $30,100,000 $135,586 $2,162 4.51%
    Cash Out Refi 82 $9,520,000 $116,098 $1,856 4.73%
    Other 44 $2,880,000 $65,455 $1,210 4.97%
    Home Improvement 24 $3,100,000 $129,167 $1,501 4.88%
    Refi 15 $1,465,000 $97,667 $1,966 4.83%

    For 2018, 1st Summit Bank's most frequently cited loan purpose was Home Purchase, with 222 originations. The 2nd most popular reason was Cash Out Refi, with 82 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 118 $11,000,000 $93,220 $1,948 4.69%
    30 Year 110 $20,300,000 $184,545 $2,579 4.52%
    15 Year 63 $6,775,000 $107,540 $1,792 4.57%
    10 Year 59 $5,675,000 $96,186 $1,138 4.68%
    Other 17 $1,715,000 $100,882 $1,283 4.66%
    5 Year 15 $745,000 $49,667 $533 5.11%
    1 Year 4 $820,000 $205,000 $0 5.56%
    3 Year 1 $35,000 $35,000 $717 4.38%

    For 2018, 1st Summit Bank's most frequently cited loan duration was 20 Year, with 118 originations. The 2nd most popular length was 30 Year, with 110 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 192 $18,590,000 $96,823
    $1k-2k 32 $8,630,000 $269,688
    $2k-3k 1 $505,000 $505,000

    1st Summit Bank's average total fees were $2,579, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 192 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 245 $31,355,000 $127,980
    5-6% 68 $6,870,000 $101,029
    3-4% 54 $6,880,000 $127,407
    6-7% 12 $1,500,000 $125,000
    2.5-3% 4 $250,000 $62,500
    7-8% 3 $185,000 $61,667
    Over 8% 1 $25,000 $25,000

    During 2018, 1st Summit Bank's average interest rate for loans was 4.52%, while their most frequently originated rate bucket for loans was 4-5%, with 245 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 220 $11,350,000 $51,591 $1,303 4.73%
    $100k-200k 104 $14,380,000 $138,269 $2,243 4.58%
    $200k-400k 53 $14,625,000 $275,943 $3,652 4.40%
    $400k-600k 7 $3,195,000 $456,429 $4,436 4.61%
    $600k-1MM 2 $1,510,000 $755,000 $6,429 4.75%
    $1MM+ 1 $2,005,000 $2,005,000 $0 5.50%

    2018 saw 1st Summit Bank place emphasis on $100,000 or less loans with 220 originations, totaling $11,350,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 94 $5,780,000 $61,489 $1,480 4.68%
    $50k-75k 85 $7,395,000 $87,000 $1,752 4.66%
    $100k-150k 71 $10,595,000 $149,225 $2,346 4.54%
    $75k-100k 53 $6,075,000 $114,623 $2,225 4.56%
    $150k-250k 22 $5,650,000 $256,818 $3,271 4.36%
    $250k+ 15 $3,385,000 $225,667 $2,629 4.62%

    1st Summit Bank lent most frequently to those with incomes in the $50k or less range, with 94 originations. The second most popular income band? $50k-75k, with 85 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 89 $9,845,000 $110,618 $1,830 4.46%
    30-36% 66 $8,720,000 $132,121 $2,298 4.62%
    <20% 61 $5,665,000 $92,869 $1,715 4.61%
    41% 20 $2,150,000 $107,500 $1,782 4.34%
    36% 13 $1,525,000 $117,308 $2,200 4.55%
    39% 12 $1,220,000 $101,667 $1,766 4.45%
    37% 10 $1,520,000 $152,000 $2,554 4.58%
    40% 10 $1,370,000 $137,000 $2,713 4.58%
    42% 8 $520,000 $65,000 $1,641 4.33%
    38% 7 $555,000 $79,286 $1,918 4.71%
    >60% 5 $1,125,000 $225,000 $3,327 4.10%
    48% 3 $545,000 $181,667 $2,223 4.54%
    43% 2 $200,000 $100,000 $1,549 4.50%
    45% 1 $45,000 $45,000 $375 4.38%
    49% 1 $345,000 $345,000 $3,315 3.63%
    50-60% 1 $75,000 $75,000 $2,121 4.75%

    1st Summit Bank lent most frequently to those with DTI ratios of 20-30%, with 89 originations. The next most common DTI ratio? 30-36%, with 66 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 348 $39,290,000 $112,902 $1,952 4.58%
    Not applicable 33 $6,695,000 $202,879 $0 5.38%
    Asian 2 $690,000 $345,000 $2,707 3.81%
    Black 4 $390,000 $97,500 $2,490 4.53%

    Approval Rates

    Total approvals of all applications
    93.47%

    1st Summit Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.11%

    1st Summit Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 387 $47,065,000 $121,615

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $1,190,000 $595,000
    Multifamily:Site-Built 3 $2,295,000 $765,000
    Single Family (1-4 Units):Manufactured 27 $1,835,000 $67,963
    Single Family (1-4 Units):Site-Built 355 $41,745,000 $117,592

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 33 $2,825,000 $85,606 $1,327 5.00%
    40-60% 59 $8,645,000 $146,525 $2,337 4.66%
    60-80% 158 $19,220,000 $121,646 $2,135 4.68%
    80-100% 118 $15,290,000 $129,576 $1,979 4.48%
    Under 20% 18 $1,050,000 $58,333 $442 4.68%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    1st Summit Bank 1148 Forest Hills Drive Salix, PA 15952 Full Service B&M $35,712
    1st Summit Bank 125 Donald Lane Johnstown, PA 15904 Full Service B&M $213,655
    1st Summit Bank 1560 Menoher Boulevard Johnstown, PA 15905 Full Service B&M $101,963
    1st Summit Bank 1825 Oakland Avenue Indiana, PA 15701 Full Service B&M $52,417
    1st Summit Bank 200 Town Centre Drive Johnstown, PA 15904 Full Service B&M $31,390
    1st Summit Bank 2200 Greengate Center Boulevard Greensburg, PA 15601 Full Service B&M $34,405
    1st Summit Bank 2600 Plank Road Commons Altoona, PA 16602 Full Service B&M $55,962
    1st Summit Bank 332 Unity Plaza Latrobe, PA 15650 Full Service B&M $25,988
    1st Summit Bank 367 Locust Street Sidman, PA 15955 Full Service B&M $40,698
    1st Summit Bank 401 Cedar Street Sidman, PA 15955 Full Service B&M $9,957
    1st Summit Bank 404 North Center Avenue Somerset, PA 15501 Full Service B&M $50,852
    1st Summit Bank 454 Park Hill Drive Johnstown, PA 15909 Full Service B&M $19,910
    1st Summit Bank 512 West High Street Ebensburg, PA 15931 Full Service B&M $31,568
    1st Summit Bank 600 Main Street Johnstown, PA 15901 Full Service B&M $79,433
    1st Summit Bank 7538 Admiral Peary Highway Cresson, PA 16630 Full Service B&M $53,258
    1st Summit Bank 924 Main Street Portage, PA 15946 Full Service B&M $66,298

    For 2018, 1st Summit Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $38,458
    Net interest income $28,553
    Total noninterest income $5,185
    Gross Fiduciary activities income $706
    Service charges on deposit accounts $1,975
    Trading account gains and fees $0
    Additional Noninterest Income $2,504
    Pre-tax net operating income $12,974
    Securities gains (or losses, -) $-46
    Income before extraordinary items $11,308
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,308
    Minority interest net income $0
    Net income $11,308
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,348

    1st Summit Bank's gross interest income from loans was $38,458,000.
    1st Summit Bank's net interest income from loans was $28,553,000.
    1st Summit Bank's fee based income from loans was $1,975,000.
    1st Summit Bank's net income from loans was $11,308,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,905
    Provision for credit losses $320
    Total noninterest expense $20,444
    Salaries and employee benefits $11,955
    Premises and equipment expense $2,909
    Additional noninterest expense $5,580
    Applicable income taxes $1,620
    Net charge-offs $386
    Cash dividends $3,712

    1st Summit Bank's interest expense for loans was $9,905,000.
    1st Summit Bank's payroll and benefits expense were $11,955,000.
    1st Summit Bank's property, plant and equipment expenses $2,909,000.

    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 0.0%
    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 0.0%
    Personal loans 0.0%
    Credit card loans 0.7%
    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 $931,307
    Deposits held in domestic offices $931,307
    Deposits by Individuals, partnerships, and corporations $798,285
    Deposits by U.S. Government $94
    Deposits by States and political subdivisions in the U.S. $130,478
    Deposits by Commercial banks and other depository institutions in U.S. $2,450
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $116,990
    Demand deposits $34,011
    Nontransaction accounts $814,317
    Money market deposit accounts (MMDAs) $272,586
    Other savings deposits (excluding MMDAs) $136,768
    Total time deposits $404,963
    Total time and savings deposits $897,296
    Noninterest-bearing deposits $67,566
    Interest-bearing deposits $863,741
    Retail deposits $870,491
    IRAs and Keogh plan accounts $106,511
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,057,573
    Cash & Balances due from depository institutions $11,912
    Interest-bearing balances $164
    Total securities $482,197
    Federal funds sold & reverse repurchase $0
    Net loans and leases $528,215
    Loan and leases loss allowance $5,718
    Trading account assets $0
    Bank premises and fixed assets $8,912
    Other real estate owned $400
    Goodwill and other intangibles $339
    All other assets $25,598

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,057,573
    Total Liabilities $960,847
    Total deposits $931,307
    Interest-bearing deposits $863,741
    Deposits held in domestic offices $931,307
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $22,502
    Subordinated debt $2,000
    All other liabilities $5,038

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $528,215
    Loan and leases loss allowance $5,718
    Total loans and leases (domestic) $533,933
    All real estate loans $398,239
    Real estate loans in domestic offices $398,239
    Construction and development loans $24,545
    Residential 1-4 family construction $5,643
    Other construction, all land development and other land $18,902
    Loans secured by nonfarm nonresidential properties $106,672
    Nonfarm nonresidential secured by owner-occupied properties $71,402
    Commercial real estate & other non-farm, non-residential $35,270
    Multifamily residential real estate $8,666
    1-4 family residential loans $257,092
    Farmland loans $1,264
    Loans held in foreign offices $0
    Farm loans $632
    Commercial and industrial loans $87,166
    To non-U.S. addressees $0
    Loans to individuals $28,987
    Credit card loans $3,511
    Related Plans $1,752
    Consumer Auto Loans $13,349
    Other loans to individuals $10,375
    All other loans & leases $18,909
    Loans to foreign governments and official institutions $0
    Other loans $363
    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 $1,306
    Non 1-4 family restructured loans & leases $1,306
    Total loans and leases (foreign) $0

    1st Summit Bank had $528,215,000 of loans outstanding in 2018. $398,239,000 of loans were in real estate loans. $24,545,000 of loans were in development loans. $8,666,000 of loans were in multifamily mortgage loans. $257,092,000 of loans were in 1-4 family mortgage loans. $632,000 of loans were in farm loans. $3,511,000 of loans were in credit card loans. $13,349,000 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 211 $43,628 $206,768
    Nonfarm, nonresidential loans - <$100k 55 $2,229 $40,527
    Nonfarm, nonresidential loans - $100-250k 69 $8,703 $126,130
    Nonfarm, nonresidential loans - $250k-1MM 87 $32,696 $375,816
    Commercial & Industrial, US addressed loans - <$1MM 807 $41,751 $51,736
    Commercial & Industrial, US addressed loans - <$100k 638 $9,767 $15,309
    Commercial & Industrial, US addressed loans - $100-250k 87 $8,446 $97,080
    Commercial & Industrial, US addressed loans - $250k-1MM 82 $23,538 $287,049
    Farmland loans - <$1MM 7 $711 $101,571
    Farmland loans - <$100k 4 $93 $23,250
    Farmland loans - $100-250k 2 $324 $162,000
    Farmland loans - $250k-1MM 1 $294 $294,000
    Agriculture operations loans - <$1MM 8 $632 $79,000
    Agriculture operations loans - <$100k 6 $98 $16,333
    Agriculture operations loans - $100-250k 1 $104 $104,000
    Agriculture operations loans - $250k-1MM 1 $430 $430,000