Mercer County State Bank Mortgage Rates, Fees & Info

Sandy Lake, PA

LEI: 549300BR55JZCJBERC86

Tax ID: 25-0660450

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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

    Mercer County State Bank is a smaller bank specializing in Refi and Home Purchase loans. Mercer County State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Youngstown, Meadville, Oil City, Erie, and Pittsburgh among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mercer County State Bank has an average approval rate when compared to the average across all lenders. They have a below 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

    314

    Origination Dollar Volume (All Markets)

    $42,700,000

    Employee count

    98

    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
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 189 $24,005,000 $127,011 $0 0.00%
    Meadville, PA (FHA|USDA|VA) 63 $8,855,000 $140,556 $0 0.00%
    Oil City, PA (FHA|USDA|VA) 31 $3,705,000 $119,516 $0 0.00%
    ERIE, PA (FHA|USDA|VA) 13 $2,985,000 $229,615 $0 0.00%
    PITTSBURGH, PA (FHA|USDA|VA) 15 $2,745,000 $183,000 $0 0.00%
    New Castle, PA (FHA|USDA|VA) 2 $260,000 $130,000 $0 0.00%
    Outside of Metro Areas 1 $145,000 $145,000 $0 0.00%
    Mercer County State Bank's top markets include Youngstown, Meadville, Oil City, Erie, and Pittsburgh among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 314 $42,700,000 $135,987 $0 0.00%

    For 2020, Mercer County State Bank's most frequently originated type of loan was Conventional, with 314 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 158 $22,620,000 $143,165 $0 0.00%
    Home Purchase 104 $17,380,000 $167,115 $0 0.00%
    Home Improvement 33 $1,785,000 $54,091 $0 0.00%
    Other 19 $915,000 $48,158 $0 0.00%

    For 2020, Mercer County State Bank's most frequently cited loan purpose was Refi, with 158 originations. The 2nd most popular reason was Home Purchase, with 104 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 314 $42,700,000 $135,987 $0 0.00%

    For 2020, Mercer County State Bank's most frequently cited loan duration was Other, with 314 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 139 $8,165,000 $58,741 $0 0.00%
    $100k-200k 116 $16,300,000 $140,517 $0 0.00%
    $200k-400k 49 $12,655,000 $258,265 $0 0.00%
    $400k-600k 7 $3,175,000 $453,571 $0 0.00%
    $600k-1MM 2 $1,380,000 $690,000 $0 0.00%
    $1MM+ 1 $1,025,000 $1,025,000 $0 0.00%

    2020 saw Mercer County State Bank place emphasis on $100,000 or less loans with 139 originations, totaling $8,165,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 75 $8,325,000 $111,000 $0 0.00%
    $50k or less 66 $5,480,000 $83,030 $0 0.00%
    $100k-150k 64 $8,600,000 $134,375 $0 0.00%
    $75k-100k 57 $7,555,000 $132,544 $0 0.00%
    $150k-250k 23 $4,405,000 $191,522 $0 0.00%
    $250k+ 5 $645,000 $129,000 $0 0.00%

    Mercer County State Bank lent most frequently to those with incomes in the $50k-75k range, with 75 originations. The second most popular income band? $50k or less, with 66 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 314 $42,700,000 $135,987 $0 0.00%

    Mercer County State Bank lent most frequently to those with DTI ratios of Exempt%, with 314 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 288 $34,660,000 $120,347 $0 0.00%
    Not applicable 21 $7,415,000 $353,095 $0 0.00%
    Not provided 4 $450,000 $112,500 $0 0.00%
    Other Pacific Islander 1 $175,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.16%

    Mercer County State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.62%

    Mercer County State Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 314 $42,700,000 $135,987

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $755,000 $755,000
    Multifamily:Site-Built 14 $4,850,000 $346,429
    Single Family (1-4 Units):Manufactured 19 $1,655,000 $87,105
    Single Family (1-4 Units):Site-Built 280 $35,440,000 $126,571

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Mercer County State Bank 101 Franklin Street Clintonville, PA 16372 Full Service B&M $20,412
    Mercer County State Bank 110 North Franklin Street Cochranton, PA 16314 Full Service B&M $25,078
    Mercer County State Bank 1353 North Hermitage Road Hermitage, PA 16148 Full Service B&M $18,114
    Mercer County State Bank 144 Venango Avenue Cambridge Springs, PA 16403 Full Service B&M $38,366
    Mercer County State Bank 16411 Conneaut Lake Road Meadville, PA 16335 Full Service B&M $29,361
    Mercer County State Bank 3279 South Main Street Sandy Lake, PA 16145 Full Service B&M $0
    Mercer County State Bank 3309 North Main Street Sandy Lake, PA 16145 Full Service B&M $119,672
    Mercer County State Bank 549 South Main Street Harrisville, PA 16038 Full Service B&M $4,568
    Mercer County State Bank 62 Lake Street Stoneboro, PA 16153 Limited, Drive-thru $18,787
    Mercer County State Bank 71 Main Street Fredonia, PA 16124 Full Service B&M $30,612
    Mercer County State Bank 712 West Main Street Grove City, PA 16127 Full Service B&M $53,374
    Mercer County State Bank 811 Franklin Road Mercer, PA 16137 Full Service B&M $35,831

    For 2020, Mercer County State Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,750
    Net interest income $14,995
    Total noninterest income $3,096
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $671
    Trading account gains and fees $0
    Additional Noninterest Income $2,425
    Pre-tax net operating income $5,392
    Securities gains (or losses, -) $233
    Income before extraordinary items $4,821
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,821
    Minority interest net income $0
    Net income $4,821
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,620

    Mercer County State Bank's gross interest income from loans was $17,750,000.
    Mercer County State Bank's net interest income from loans was $14,995,000.
    Mercer County State Bank's fee based income from loans was $671,000.
    Mercer County State Bank's net income from loans was $4,821,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,755
    Provision for credit losses $225
    Total noninterest expense $12,474
    Salaries and employee benefits $7,565
    Premises and equipment expense $1,546
    Additional noninterest expense $3,363
    Applicable income taxes $804
    Net charge-offs $75
    Cash dividends $2,000

    Mercer County State Bank's interest expense for loans was $2,755,000.
    Mercer County State Bank's payroll and benefits expense were $7,565,000.
    Mercer County State Bank's property, plant and equipment expenses $1,546,000.

    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 1.0%
    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 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $400,063
    Deposits held in domestic offices $400,063
    Deposits by Individuals, partnerships, and corporations $365,998
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $34,065
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $181,584
    Demand deposits $139,870
    Nontransaction accounts $218,479
    Money market deposit accounts (MMDAs) $46,301
    Other savings deposits (excluding MMDAs) $70,674
    Total time deposits $101,503
    Total time and savings deposits $260,193
    Noninterest-bearing deposits $139,870
    Interest-bearing deposits $260,193
    Retail deposits $388,432
    IRAs and Keogh plan accounts $19,969
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $475,457
    Cash & Balances due from depository institutions $14,921
    Interest-bearing balances $9,131
    Total securities $132,345
    Federal funds sold & reverse repurchase $0
    Net loans and leases $303,181
    Loan and leases loss allowance $3,325
    Trading account assets $0
    Bank premises and fixed assets $7,989
    Other real estate owned $0
    Goodwill and other intangibles $2,046
    All other assets $14,975

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $475,457
    Total Liabilities $428,169
    Total deposits $400,063
    Interest-bearing deposits $260,193
    Deposits held in domestic offices $400,063
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $24,063
    Subordinated debt $0
    All other liabilities $4,043

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $303,181
    Loan and leases loss allowance $3,325
    Total loans and leases (domestic) $306,506
    All real estate loans $245,662
    Real estate loans in domestic offices $245,662
    Construction and development loans $1,395
    Residential 1-4 family construction $1,395
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $96,793
    Nonfarm nonresidential secured by owner-occupied properties $96,339
    Commercial real estate & other non-farm, non-residential $454
    Multifamily residential real estate $12,109
    1-4 family residential loans $117,766
    Farmland loans $17,599
    Loans held in foreign offices $0
    Farm loans $6,829
    Commercial and industrial loans $49,250
    To non-U.S. addressees $0
    Loans to individuals $3,256
    Credit card loans $0
    Related Plans $508
    Consumer Auto Loans $821
    Other loans to individuals $1,927
    All other loans & leases $1,955
    Loans to foreign governments and official institutions $0
    Other loans $566
    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 $9,940
    Non 1-4 family restructured loans & leases $9,940
    Total loans and leases (foreign) $0

    Mercer County State Bank had $303,181,000 of loans outstanding in 2020. $245,662,000 of loans were in real estate loans. $1,395,000 of loans were in development loans. $12,109,000 of loans were in multifamily mortgage loans. $117,766,000 of loans were in 1-4 family mortgage loans. $6,829,000 of loans were in farm loans. $0 of loans were in credit card loans. $821,000 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 587 $64,978 $110,695
    Nonfarm, nonresidential loans - <$100k 323 $12,862 $39,820
    Nonfarm, nonresidential loans - $100-250k 166 $19,010 $114,518
    Nonfarm, nonresidential loans - $250k-1MM 98 $33,106 $337,816
    Commercial & Industrial, US addressed loans - <$1MM 738 $36,637 $49,644
    Commercial & Industrial, US addressed loans - <$100k 605 $14,927 $24,673
    Commercial & Industrial, US addressed loans - $100-250k 101 $11,729 $116,129
    Commercial & Industrial, US addressed loans - $250k-1MM 32 $9,981 $311,906
    Farmland loans - <$1MM 97 $12,702 $130,948
    Farmland loans - <$100k 21 $837 $39,857
    Farmland loans - $100-250k 54 $5,835 $108,056
    Farmland loans - $250k-1MM 22 $6,030 $274,091
    Agriculture operations loans - <$1MM 142 $5,562 $39,169
    Agriculture operations loans - <$100k 129 $2,949 $22,860
    Agriculture operations loans - $100-250k 8 $831 $103,875
    Agriculture operations loans - $250k-1MM 5 $1,782 $356,400