Quaint Oak Bank Mortgage Rates, Fees & Info

Southampton, PA

LEI: 5493009U3Z7T32DXL565

Tax ID: 23-0993717

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Mortgage Data

Bank Data

Review & Overview

Quaint Oak Bank is a smaller bank specializing in Home Purchase 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 a below average pick rate when compared to similar lenders.

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Originations

30

Origination Dollar Volume (All Markets)

$17,960,000

Employee count

80

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) 28 $17,600,000 $628,571 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $360,000 $180,000 $0 0.00%
Quaint Oak Bank's top markets include Philadelphia and Allentown among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 30 $17,960,000 $598,667 $0 0.00%

    For 2019, Quaint Oak Bank's most frequently originated type of loan was Conventional, with 30 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 27 $16,015,000 $593,148 $0 0.00%
    Refi 3 $1,945,000 $648,333 $0 0.00%

    For 2019, Quaint Oak Bank's most frequently cited loan purpose was Home Purchase, with 27 originations. The 2nd most popular reason was Refi, with 3 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 30 $17,960,000 $598,667 $0 0.00%

    For 2019, Quaint Oak Bank's most frequently cited loan duration was Other, with 30 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 8 $1,250,000 $156,250 $0 0.00%
    $400k-600k 6 $2,610,000 $435,000 $0 0.00%
    $600k-1MM 6 $4,160,000 $693,333 $0 0.00%
    $1MM+ 5 $8,515,000 $1,703,000 $0 0.00%
    $200k-400k 5 $1,425,000 $285,000 $0 0.00%

    2019 saw Quaint Oak Bank place emphasis on $100k-200k loans with 8 originations, totaling $1,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 3 $805,000 $268,333 $0 0.00%
    $150k-250k 1 $725,000 $725,000 $0 0.00%
    $250k+ 1 $165,000 $165,000 $0 0.00%
    $75k-100k 1 $245,000 $245,000 $0 0.00%

    Quaint Oak Bank lent most frequently to those with incomes in the $100k-150k range, with 3 originations. The second most popular income band? $150k-250k, with 1 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 30 $17,960,000 $598,667 $0 0.00%

    Quaint Oak Bank lent most frequently to those with DTI ratios of Exempt%, with 30 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 24 $16,020,000 $667,500 $0 0.00%
    White 6 $1,940,000 $323,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.70%

    Quaint Oak Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.00%

    Quaint Oak Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 30 $17,960,000 $598,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $9,625,000 $1,375,000
    Single Family (1-4 Units):Site-Built 23 $8,335,000 $362,391

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Quaint Oak Bank 1710 Union Blvd. Allentown, PA 18109 Full Service B&M $72,163
    Quaint Oak Bank 501 Knowles Avenue Southampton, PA 18966 Full Service B&M $155,480

    For 2019, Quaint Oak Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,217
    Net interest income $9,299
    Total noninterest income $4,876
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $0
    Trading account gains and fees $0
    Additional Noninterest Income $4,876
    Pre-tax net operating income $4,012
    Securities gains (or losses, -) $-4
    Income before extraordinary items $2,936
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,936
    Minority interest net income $0
    Net income $2,936
    Sale, conversion, retirement of capital stock, net $80
    Net operating income $2,939

    Quaint Oak Bank's gross interest income from loans was $14,217,000.
    Quaint Oak Bank's net interest income from loans was $9,299,000.
    Quaint Oak Bank's fee based income from loans was $0.
    Quaint Oak Bank's net income from loans was $2,936,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,918
    Provision for credit losses $303
    Total noninterest expense $9,860
    Salaries and employee benefits $6,905
    Premises and equipment expense $770
    Additional noninterest expense $2,185
    Applicable income taxes $1,072
    Net charge-offs $37
    Cash dividends $0

    Quaint Oak Bank's interest expense for loans was $4,918,000.
    Quaint Oak Bank's payroll and benefits expense were $6,905,000.
    Quaint Oak Bank's property, plant and equipment expenses $770,000.

    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 0.0%
    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 $230,556
    Deposits held in domestic offices $230,556
    Deposits by Individuals, partnerships, and corporations $216,354
    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. $14,202
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $15,773
    Demand deposits $15,452
    Nontransaction accounts $214,783
    Money market deposit accounts (MMDAs) $24,798
    Other savings deposits (excluding MMDAs) $5,534
    Total time deposits $184,451
    Total time and savings deposits $215,104
    Noninterest-bearing deposits $15,773
    Interest-bearing deposits $214,783
    Retail deposits $203,644
    IRAs and Keogh plan accounts $29,185
    Brokered deposits $2,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $300,538
    Cash & Balances due from depository institutions $24,377
    Interest-bearing balances $23,839
    Total securities $7,621
    Federal funds sold & reverse repurchase $0
    Net loans and leases $255,620
    Loan and leases loss allowance $2,231
    Trading account assets $0
    Bank premises and fixed assets $1,934
    Other real estate owned $1,824
    Goodwill and other intangibles $954
    All other assets $8,208

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $300,538
    Total Liabilities $269,026
    Total deposits $230,556
    Interest-bearing deposits $214,783
    Deposits held in domestic offices $230,556
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $37,562
    Subordinated debt $0
    All other liabilities $908

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $255,620
    Loan and leases loss allowance $2,231
    Total loans and leases (domestic) $257,851
    All real estate loans $219,567
    Real estate loans in domestic offices $219,567
    Construction and development loans $12,523
    Residential 1-4 family construction $12,083
    Other construction, all land development and other land $440
    Loans secured by nonfarm nonresidential properties $124,331
    Nonfarm nonresidential secured by owner-occupied properties $63,818
    Commercial real estate & other non-farm, non-residential $60,513
    Multifamily residential real estate $22,233
    1-4 family residential loans $60,480
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $39,266
    To non-U.S. addressees $0
    Loans to individuals $22
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $22
    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 $151
    Non 1-4 family restructured loans & leases $132
    Total loans and leases (foreign) $0

    Quaint Oak Bank had $255,620,000 of loans outstanding in 2019. $219,567,000 of loans were in real estate loans. $12,523,000 of loans were in development loans. $22,233,000 of loans were in multifamily mortgage loans. $60,480,000 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 227 $62,175 $273,899
    Nonfarm, nonresidential loans - <$100k 26 $1,123 $43,192
    Nonfarm, nonresidential loans - $100-250k 83 $10,970 $132,169
    Nonfarm, nonresidential loans - $250k-1MM 118 $50,082 $424,424
    Commercial & Industrial, US addressed loans - <$1MM 317 $17,726 $55,918
    Commercial & Industrial, US addressed loans - <$100k 269 $8,795 $32,695
    Commercial & Industrial, US addressed loans - $100-250k 39 $5,837 $149,667
    Commercial & Industrial, US addressed loans - $250k-1MM 9 $3,094 $343,778