Prudential Bank Mortgage Rates, Fees & Info

Philadelphia, PA

LEI: 549300CR6ELPCYKQRB34

Tax ID: 23-1107072

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Prudential Bank is a smaller bank specializing in Home Purchase loans. Prudential Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Trenton, and Pittsburgh among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Prudential 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. Prudential 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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    Originations

    67

    Origination Dollar Volume (All Markets)

    $67,855,000

    Employee count

    85

    Awards

    Prudential Bank 30 Year Conventional Loans gold Prudential Bank 30 Year Conventional Loans silver Prudential Bank 30 Year Conventional Loans silver
    Show all (3) 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) 65 $65,915,000 $1,014,077 $1,982 4.75%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $1,605,000 $1,605,000 $0 6.00%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $335,000 $335,000 $3,590 2.99%
    Prudential Bank's top markets include Philadelphia, Trenton, and Pittsburgh among others.

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

    • Similar Lenders

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

    FIDELITY SAVINGS AND LOAN ASSOCIATION OF BUCKS COUNTY
    Similarity Rank: 122
    Prudential Bank
    Similarity Rank: 162
    CREDIT UNION OF NEW JERSEY
    Similarity Rank: 180
    Columbia Bank
    Similarity Rank: 440
    DEL-ONE FEDERAL CREDIT UNION
    Similarity Rank: 528
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION
    Similarity Rank: 678
    Hamilton National Mortgage Company
    Similarity Rank: 774
    County Savings Bank
    Similarity Rank: 780
    PENNSYLVANIA STATE EMPLOYEES Credit Union
    Similarity Rank: 1026
    PINNACLE MORTGAGE, INC.
    Similarity Rank: 1176

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 67 $67,855,000 $1,012,761 $2,023 4.74%

    For 2019, Prudential Bank's most frequently originated type of loan was Conventional, with 67 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 34 $11,280,000 $331,765 $2,239 4.09%
    Home Purchase 25 $56,115,000 $2,244,600 $3,674 5.75%
    Home Improvement 6 $400,000 $66,667 $593 4.55%
    Other 2 $60,000 $30,000 $0 3.74%

    For 2019, Prudential Bank's most frequently cited loan purpose was Refi, with 34 originations. The 2nd most popular reason was Home Purchase, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    5 Year 20 $22,850,000 $1,142,500 $0 5.24%
    30 Year 15 $3,375,000 $225,000 $3,327 3.87%
    10 Year 11 $9,215,000 $837,727 $854 5.22%
    15 Year 10 $2,310,000 $231,000 $2,558 3.51%
    Other 8 $29,940,000 $3,742,500 $0 6.01%
    20 Year 3 $165,000 $55,000 $0 4.62%

    For 2019, Prudential Bank's most frequently cited loan duration was 5 Year, with 20 originations. The 2nd most popular length was 30 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 39 $6,645,000 $170,385

    Prudential Bank's average total fees were $3,327, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 39 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 21 $3,595,000 $171,190
    5-6% 20 $36,850,000 $1,842,500
    4-5% 10 $970,000 $97,000
    6-7% 10 $24,510,000 $2,451,000
    2.5-3% 6 $1,930,000 $321,667

    During 2019, Prudential Bank's average interest rate for loans was 3.87%, while their most frequently originated rate bucket for loans was 3-4%, with 21 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 16 $720,000 $45,000 $0 4.28%
    $200k-400k 14 $4,040,000 $288,571 $3,550 3.91%
    $100k-200k 12 $1,780,000 $148,333 $2,740 4.32%
    $1MM+ 11 $52,995,000 $4,817,727 $0 5.99%
    $400k-600k 8 $3,840,000 $480,000 $4,153 5.01%
    $600k-1MM 6 $4,480,000 $746,667 $0 6.08%

    2019 saw Prudential Bank place emphasis on $100,000 or less loans with 16 originations, totaling $720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 9 $1,415,000 $157,222 $1,944 3.96%
    $150k-250k 8 $1,820,000 $227,500 $2,782 3.78%
    $250k+ 6 $1,800,000 $300,000 $3,024 3.69%
    $50k-75k 6 $820,000 $136,667 $2,038 4.14%
    $50k or less 6 $320,000 $53,333 $494 3.87%
    $75k-100k 3 $285,000 $95,000 $1,058 4.08%

    Prudential Bank lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $150k-250k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 12 $2,220,000 $185,000 $2,040 3.71%
    <20% 7 $765,000 $109,286 $995 4.07%
    30-36% 6 $850,000 $141,667 $2,149 4.00%
    44% 5 $855,000 $171,000 $1,542 3.62%
    36% 3 $715,000 $238,333 $3,430 3.21%
    41% 3 $655,000 $218,333 $3,266 3.79%
    45% 1 $155,000 $155,000 $3,181 4.75%
    40% 1 $335,000 $335,000 $3,590 2.99%
    42% 1 $95,000 $95,000 $0 4.75%

    Prudential Bank lent most frequently to those with DTI ratios of 20-30%, with 12 originations. The next most common DTI ratio? <20%, with 7 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 25 $60,885,000 $2,435,400 $0 6.05%
    White 36 $5,190,000 $144,167 $1,859 3.99%
    Not provided 6 $1,780,000 $296,667 $3,142 3.77%

    Approval Rates

    Total approvals of all applications
    73.91%

    Prudential Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    55.22%

    Prudential Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 67 $67,855,000 $1,012,761

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 16 $54,800,000 $3,425,000
    Single Family (1-4 Units):Site-Built 51 $13,055,000 $255,980

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $500,000 $83,333 $494 3.89%
    40-60% 15 $27,795,000 $1,853,000 $2,663 4.85%
    60-80% 33 $38,605,000 $1,169,848 $3,400 5.01%
    80-100% 2 $390,000 $195,000 $3,151 3.31%
    Under 20% 11 $565,000 $51,364 $0 4.48%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Partners for Payment Relief Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Prudential Bank 1270 Township Line Road Drexel Hill, PA 19026 Full Service B&M $25,804
    Prudential Bank 1722 South Broad Street Philadelphia, PA 19145 Full Service B&M $48,614
    Prudential Bank 1834 West Oregon Avenue Philadelphia, PA 19145 Full Service B&M $469,795
    Prudential Bank 2 Penn Center, 1500 John F. Kennedy Blvd., Suite #110 Philadelphia, PA 19102 Full Service B&M $15,138
    Prudential Bank 2133 Spring Garden Street Philadelphia, PA 19130 Full Service B&M $25,624
    Prudential Bank 238a Moore Street Philadelphia, PA 19148 Full Service B&M $37,682
    Prudential Bank 2646 East Allegheny Ave Philadelphia, PA 19134 Full Service B&M $44,022
    Prudential Bank 3993 Huntingdon Pike Huntingdon Valley, PA 19006 Full Service B&M $38,166
    Prudential Bank 4800 Richmond Street Philadelphia, PA 19137 Full Service B&M $4,853
    Prudential Bank 8000 Frankford Ave Philadelphia, PA 19136 Full Service B&M $23,950

    For 2019, Prudential Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $45,865
    Net interest income $25,078
    Total noninterest income $2,412
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $0
    Trading account gains and fees $0
    Additional Noninterest Income $2,412
    Pre-tax net operating income $11,263
    Securities gains (or losses, -) $1,375
    Income before extraordinary items $10,444
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,444
    Minority interest net income $0
    Net income $10,444
    Sale, conversion, retirement of capital stock, net $1,200
    Net operating income $9,302

    Prudential Bank's gross interest income from loans was $45,865,000.
    Prudential Bank's net interest income from loans was $25,078,000.
    Prudential Bank's fee based income from loans was $0.
    Prudential Bank's net income from loans was $10,444,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $20,787
    Provision for credit losses $225
    Total noninterest expense $16,002
    Salaries and employee benefits $8,981
    Premises and equipment expense $1,553
    Additional noninterest expense $5,468
    Applicable income taxes $2,194
    Net charge-offs $-136
    Cash dividends $5,000

    Prudential Bank's interest expense for loans was $20,787,000.
    Prudential Bank's payroll and benefits expense were $8,981,000.
    Prudential Bank's property, plant and equipment expenses $1,553,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 5.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 6.0%
    Credit card loans 0.0%
    Other individual loans 6.0%
    Auto loans 0.0%
    Other consumer loans 6.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $724,521
    Deposits held in domestic offices $724,521
    Deposits by Individuals, partnerships, and corporations $612,267
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $71,986
    Deposits by Commercial banks and other depository institutions in U.S. $40,267
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $92,325
    Demand deposits $20,661
    Nontransaction accounts $632,195
    Money market deposit accounts (MMDAs) $85,085
    Other savings deposits (excluding MMDAs) $82,781
    Total time deposits $464,328
    Total time and savings deposits $703,859
    Noninterest-bearing deposits $20,661
    Interest-bearing deposits $703,860
    Retail deposits $509,772
    IRAs and Keogh plan accounts $36,620
    Brokered deposits $186,370
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,295,401
    Cash & Balances due from depository institutions $31,158
    Interest-bearing balances $28,366
    Total securities $601,214
    Federal funds sold & reverse repurchase $0
    Net loans and leases $588,848
    Loan and leases loss allowance $5,528
    Trading account assets $0
    Bank premises and fixed assets $7,175
    Other real estate owned $491
    Goodwill and other intangibles $6,520
    All other assets $59,995

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,295,401
    Total Liabilities $1,154,758
    Total deposits $724,521
    Interest-bearing deposits $703,860
    Deposits held in domestic offices $724,521
    % insured (estimated) $96
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $409,816
    Subordinated debt $0
    All other liabilities $20,421

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $588,848
    Loan and leases loss allowance $5,528
    Total loans and leases (domestic) $594,376
    All real estate loans $568,019
    Real estate loans in domestic offices $568,019
    Construction and development loans $152,978
    Residential 1-4 family construction $9,409
    Other construction, all land development and other land $143,569
    Loans secured by nonfarm nonresidential properties $129,421
    Nonfarm nonresidential secured by owner-occupied properties $16,380
    Commercial real estate & other non-farm, non-residential $113,041
    Multifamily residential real estate $24,673
    1-4 family residential loans $260,947
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $19,121
    To non-U.S. addressees $0
    Loans to individuals $851
    Credit card loans $1
    Related Plans $137
    Consumer Auto Loans $0
    Other loans to individuals $713
    All other loans & leases $6,385
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $5,994
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $135
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Prudential Bank had $588,848,000 of loans outstanding in 2019. $568,019,000 of loans were in real estate loans. $152,978,000 of loans were in development loans. $24,673,000 of loans were in multifamily mortgage loans. $260,947,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,000 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 67 $14,074 $210,060
    Nonfarm, nonresidential loans - <$100k 14 $385 $27,500
    Nonfarm, nonresidential loans - $100-250k 27 $3,324 $123,111
    Nonfarm, nonresidential loans - $250k-1MM 26 $10,365 $398,654
    Commercial & Industrial, US addressed loans - <$1MM 6 $766 $127,667
    Commercial & Industrial, US addressed loans - <$100k 4 $39 $9,750
    Commercial & Industrial, US addressed loans - $250k-1MM 2 $727 $363,500