Glen Rock Savings Bank Mortgage Rates, Fees & Info

Glen Rock, NJ

LEI: 549300D992SE497KXK81

Tax ID: 22-0997350

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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

    Glen Rock Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Glen Rock Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Atlantic City, Allentown, and Trenton among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Glen Rock Savings 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.

    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

    93

    Origination Dollar Volume (All Markets)

    $28,405,000

    Employee count

    32

    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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 90 $27,070,000 $300,778 $0 0.00%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    Glen Rock Savings Bank's top markets include New York, Atlantic City, Allentown, and Trenton among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 93 $28,405,000 $305,430 $0 0.00%

    For 2018, Glen Rock Savings Bank's most frequently originated type of loan was Conventional, with 93 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 41 $15,745,000 $384,024 $0 0.00%
    Refi 33 $10,455,000 $316,818 $0 0.00%
    Home Improvement 12 $1,750,000 $145,833 $0 0.00%
    Other 7 $455,000 $65,000 $0 0.00%

    For 2018, Glen Rock Savings Bank's most frequently cited loan purpose was Home Purchase, with 41 originations. The 2nd most popular reason was Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 93 $28,405,000 $305,430 $0 0.00%

    For 2018, Glen Rock Savings Bank's most frequently cited loan duration was Other, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 34 $10,070,000 $296,176 $0 0.00%
    $100,000 or less 20 $1,090,000 $54,500 $0 0.00%
    $400k-600k 15 $7,125,000 $475,000 $0 0.00%
    $100k-200k 13 $1,855,000 $142,692 $0 0.00%
    $600k-1MM 10 $7,210,000 $721,000 $0 0.00%
    $1MM+ 1 $1,055,000 $1,055,000 $0 0.00%

    2018 saw Glen Rock Savings Bank place emphasis on $200k-400k loans with 34 originations, totaling $10,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 36 $9,870,000 $274,167 $0 0.00%
    $100k-150k 19 $4,765,000 $250,789 $0 0.00%
    $250k+ 19 $9,645,000 $507,632 $0 0.00%
    $75k-100k 9 $1,435,000 $159,444 $0 0.00%
    $50k-75k 3 $275,000 $91,667 $0 0.00%
    $50k or less 1 $115,000 $115,000 $0 0.00%

    Glen Rock Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 36 originations. The second most popular income band? $100k-150k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 93 $28,405,000 $305,430 $0 0.00%

    Glen Rock Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 93 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 72 $20,320,000 $282,222 $0 0.00%
    Not provided 9 $3,325,000 $369,444 $0 0.00%
    Asian 7 $2,665,000 $380,714 $0 0.00%
    Not applicable 4 $2,010,000 $502,500 $0 0.00%
    Black 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.23%

    Glen Rock Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.57%

    Glen Rock Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 93 $28,405,000 $305,430

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $565,000 $565,000
    Single Family (1-4 Units):Site-Built 92 $27,840,000 $302,609

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Glen Rock Savings Bank 175 Rock Road Glen Rock, NJ 7452 Full Service B&M $81,222
    Glen Rock Savings Bank 244-250 Lincoln Avenue Hawthorne, NJ 7506 Full Service B&M $40,204
    Glen Rock Savings Bank 474 Prospect Avenue West Orange, NJ 7052 Full Service B&M $46,173
    Glen Rock Savings Bank 83 Northfield Ave West Orange, NJ 7052 Full Service B&M $30,983

    For 2018, Glen Rock Savings Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $7,979
    Net interest income $5,874
    Total noninterest income $227
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $0
    Trading account gains and fees $0
    Additional Noninterest Income $227
    Pre-tax net operating income $-165
    Securities gains (or losses, -) $42
    Income before extraordinary items $-21
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $-21
    Minority interest net income $0
    Net income $-21
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $-54

    Glen Rock Savings Bank's gross interest income from loans was $7,979,000.
    Glen Rock Savings Bank's net interest income from loans was $5,874,000.
    Glen Rock Savings Bank's fee based income from loans was $0.
    Glen Rock Savings Bank's net income from loans was $-21,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,105
    Provision for credit losses $216
    Total noninterest expense $6,050
    Salaries and employee benefits $3,149
    Premises and equipment expense $789
    Additional noninterest expense $2,112
    Applicable income taxes $-102
    Net charge-offs $133
    Cash dividends $0

    Glen Rock Savings Bank's interest expense for loans was $2,105,000.
    Glen Rock Savings Bank's payroll and benefits expense were $3,149,000.
    Glen Rock Savings Bank's property, plant and equipment expenses $789,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 3.0%
    All other family 1.0%
    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 $203,879
    Deposits held in domestic offices $203,879
    Deposits by Individuals, partnerships, and corporations $203,085
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $794
    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 $47,130
    Demand deposits $41,828
    Nontransaction accounts $156,749
    Money market deposit accounts (MMDAs) $3,267
    Other savings deposits (excluding MMDAs) $63,643
    Total time deposits $89,839
    Total time and savings deposits $162,051
    Noninterest-bearing deposits $20,576
    Interest-bearing deposits $183,303
    Retail deposits $195,528
    IRAs and Keogh plan accounts $14,239
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $265,569
    Cash & Balances due from depository institutions $13,785
    Interest-bearing balances $6,759
    Total securities $65,903
    Federal funds sold & reverse repurchase $0
    Net loans and leases $168,379
    Loan and leases loss allowance $1,133
    Trading account assets $0
    Bank premises and fixed assets $6,956
    Other real estate owned $1,513
    Goodwill and other intangibles $312
    All other assets $8,721

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $265,569
    Total Liabilities $233,724
    Total deposits $203,879
    Interest-bearing deposits $183,303
    Deposits held in domestic offices $203,879
    % insured (estimated) $90
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $27,682
    Subordinated debt $0
    All other liabilities $2,163

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $168,379
    Loan and leases loss allowance $1,133
    Total loans and leases (domestic) $169,512
    All real estate loans $166,732
    Real estate loans in domestic offices $166,732
    Construction and development loans $7,803
    Residential 1-4 family construction $7,803
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $8,955
    Nonfarm nonresidential secured by owner-occupied properties $4,073
    Commercial real estate & other non-farm, non-residential $4,882
    Multifamily residential real estate $1,883
    1-4 family residential loans $148,091
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,833
    To non-U.S. addressees $0
    Loans to individuals $55
    Credit card loans $0
    Related Plans $51
    Consumer Auto Loans $0
    Other loans to individuals $4
    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 $1,022
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Glen Rock Savings Bank had $168,379,000 of loans outstanding in 2018. $166,732,000 of loans were in real estate loans. $7,803,000 of loans were in development loans. $1,883,000 of loans were in multifamily mortgage loans. $148,091,000 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 20 $4,547 $227,350
    Nonfarm, nonresidential loans - $100-250k 9 $1,135 $126,111
    Nonfarm, nonresidential loans - $250k-1MM 11 $3,412 $310,182
    Commercial & Industrial, US addressed loans - <$1MM 5 $486 $97,200
    Commercial & Industrial, US addressed loans - <$100k 1 $65 $65,000
    Commercial & Industrial, US addressed loans - $100-250k 4 $421 $105,250