Quaint Oak Bank Mortgage Rates, Fees & Info

Southampton, PA

LEI: 5493009U3Z7T32DXL565

Tax ID: 23-0993717

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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

    Quaint Oak Bank is a smaller bank specializing in Home Purchase and Refi loans. Quaint Oak Bank has a high proportion of conventional loans. Their top two markets are Philadelphia and Allentown .

    Quaint Oak 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.

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    Originations

    51

    Origination Dollar Volume (All Markets)

    $19,945,000

    Employee count

    73

    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) 46 $16,830,000 $365,870 $0 6.57%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 5 $3,115,000 $623,000 $0 5.23%
    Quaint Oak Bank's top markets include Philadelphia and Allentown among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 51 $19,945,000 $391,078 $0 6.44%

    For 2018, Quaint Oak Bank's most frequently originated type of loan was Conventional, with 51 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 34 $10,850,000 $319,118 $0 6.61%
    Refi 9 $5,475,000 $608,333 $0 5.67%
    Home Improvement 7 $3,365,000 $480,714 $0 6.71%
    Cash Out Refi 1 $255,000 $255,000 $0 5.75%

    For 2018, Quaint Oak Bank's most frequently cited loan purpose was Home Purchase, with 34 originations. The 2nd most popular reason was Refi, with 9 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    1 Year 27 $7,095,000 $262,778 $0 7.14%
    5 Year 11 $5,045,000 $458,636 $0 5.70%
    3 Year 4 $2,270,000 $567,500 $0 5.22%
    Other 4 $2,290,000 $572,500 $0 6.31%
    15 Year 3 $2,065,000 $688,333 $0 5.33%
    10 Year 2 $1,180,000 $590,000 $0 5.38%

    For 2018, Quaint Oak Bank's most frequently cited loan duration was 1 Year, with 27 originations. The 2nd most popular length was 5 Year, with 11 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 19 $7,605,000 $400,263
    7-8% 14 $3,260,000 $232,857
    6-7% 12 $4,150,000 $345,833
    4-5% 4 $4,460,000 $1,115,000
    Over 8% 2 $470,000 $235,000

    During 2018, Quaint Oak Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 19 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 25 $6,695,000 $267,800 $0 6.84%
    $400k-600k 10 $4,440,000 $444,000 $0 6.00%
    $100k-200k 7 $1,095,000 $156,429 $0 6.79%
    $1MM+ 4 $5,640,000 $1,410,000 $0 5.16%
    $100,000 or less 3 $225,000 $75,000 $0 6.25%
    $600k-1MM 2 $1,850,000 $925,000 $0 5.25%

    2018 saw Quaint Oak Bank place emphasis on $200k-400k loans with 25 originations, totaling $6,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 4 $970,000 $242,500 $0 7.13%
    $250k+ 2 $450,000 $225,000 $0 7.50%
    $50k-75k 2 $600,000 $300,000 $0 7.00%
    $100k-150k 1 $135,000 $135,000 $0 5.50%
    $150k-250k 1 $225,000 $225,000 $0 7.75%

    Quaint Oak Bank lent most frequently to those with incomes in the $50k or less range, with 4 originations. The second most popular income band? $250k+, with 2 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 41 $17,565,000 $428,415 $0 6.28%
    White 9 $2,225,000 $247,222 $0 7.14%
    Vietnamese 1 $155,000 $155,000 $0 6.50%

    Approval Rates

    Total approvals of all applications
    91.38%

    Quaint Oak Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    96.08%

    Quaint Oak Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 51 $19,945,000 $391,078

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $8,400,000 $1,050,000
    Single Family (1-4 Units):Site-Built 43 $11,545,000 $268,488

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $785,000 $261,667 $0 6.08%
    40-60% 20 $5,900,000 $295,000 $0 6.60%
    60-80% 23 $9,345,000 $406,304 $0 6.48%
    80-100% 1 $1,005,000 $1,005,000 $0 6.25%
    Over 100% 2 $1,180,000 $590,000 $0 5.38%
    Under 20% 2 $1,730,000 $865,000 $0 6.00%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Quaint Oak Bank 1710 Union Blvd. Allentown, PA 18109 Full Service B&M $62,670
    Quaint Oak Bank 501 Knowles Avenue Southampton, PA 18966 Full Service B&M $142,410

    For 2018, Quaint Oak Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,286
    Net interest income $8,448
    Total noninterest income $3,840
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $0
    Trading account gains and fees $0
    Additional Noninterest Income $3,840
    Pre-tax net operating income $2,759
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,074
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,074
    Minority interest net income $0
    Net income $2,074
    Sale, conversion, retirement of capital stock, net $86
    Net operating income $2,074

    Quaint Oak Bank's gross interest income from loans was $12,286,000.
    Quaint Oak Bank's net interest income from loans was $8,448,000.
    Quaint Oak Bank's fee based income from loans was $0.
    Quaint Oak Bank's net income from loans was $2,074,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,838
    Provision for credit losses $415
    Total noninterest expense $9,114
    Salaries and employee benefits $6,365
    Premises and equipment expense $636
    Additional noninterest expense $2,113
    Applicable income taxes $685
    Net charge-offs $262
    Cash dividends $750

    Quaint Oak Bank's interest expense for loans was $3,838,000.
    Quaint Oak Bank's payroll and benefits expense were $6,365,000.
    Quaint Oak Bank's property, plant and equipment expenses $636,000.

    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 7.0%
    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 $216,827
    Deposits held in domestic offices $216,827
    Deposits by Individuals, partnerships, and corporations $215,825
    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. $1,002
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $19,127
    Demand deposits $18,381
    Nontransaction accounts $197,700
    Money market deposit accounts (MMDAs) $26,577
    Other savings deposits (excluding MMDAs) $4,908
    Total time deposits $166,216
    Total time and savings deposits $198,446
    Noninterest-bearing deposits $19,127
    Interest-bearing deposits $197,700
    Retail deposits $192,357
    IRAs and Keogh plan accounts $28,222
    Brokered deposits $3,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $270,561
    Cash & Balances due from depository institutions $31,691
    Interest-bearing balances $29,737
    Total securities $6,680
    Federal funds sold & reverse repurchase $0
    Net loans and leases $222,000
    Loan and leases loss allowance $1,965
    Trading account assets $0
    Bank premises and fixed assets $475
    Other real estate owned $1,650
    Goodwill and other intangibles $970
    All other assets $7,095

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $270,561
    Total Liabilities $242,086
    Total deposits $216,827
    Interest-bearing deposits $197,700
    Deposits held in domestic offices $216,827
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $24,000
    Subordinated debt $0
    All other liabilities $1,259

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $222,000
    Loan and leases loss allowance $1,965
    Total loans and leases (domestic) $223,965
    All real estate loans $200,736
    Real estate loans in domestic offices $200,736
    Construction and development loans $10,328
    Residential 1-4 family construction $9,998
    Other construction, all land development and other land $330
    Loans secured by nonfarm nonresidential properties $102,191
    Nonfarm nonresidential secured by owner-occupied properties $59,666
    Commercial real estate & other non-farm, non-residential $42,525
    Multifamily residential real estate $23,967
    1-4 family residential loans $64,250
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $24,178
    To non-U.S. addressees $0
    Loans to individuals $19
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $19
    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 $398
    Non 1-4 family restructured loans & leases $133
    Total loans and leases (foreign) $0

    Quaint Oak Bank had $222,000,000 of loans outstanding in 2018. $200,736,000 of loans were in real estate loans. $10,328,000 of loans were in development loans. $23,967,000 of loans were in multifamily mortgage loans. $64,250,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 208 $54,042 $259,817
    Nonfarm, nonresidential loans - <$100k 29 $1,268 $43,724
    Nonfarm, nonresidential loans - $100-250k 82 $10,618 $129,488
    Nonfarm, nonresidential loans - $250k-1MM 97 $42,156 $434,598
    Commercial & Industrial, US addressed loans - <$1MM 246 $15,427 $62,711
    Commercial & Industrial, US addressed loans - <$100k 202 $7,319 $36,233
    Commercial & Industrial, US addressed loans - $100-250k 35 $5,094 $145,543
    Commercial & Industrial, US addressed loans - $250k-1MM 9 $3,014 $334,889