Glen Rock Savings Bank Mortgage Rates, Fees & Info

Glen Rock, NJ

LEI: 549300D992SE497KXK81

Tax ID: 22-0997350

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 Refi loans. Glen Rock Savings Bank has a high proportion of conventional loans. Their top (well, only) market is New York.

    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

    99

    Origination Dollar Volume (All Markets)

    $45,855,000

    Employee count

    31

    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) 99 $45,855,000 $463,182 $0 0.00%
    Glen Rock Savings Bank's top markets include and New York 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 99 $45,855,000 $463,182 $0 0.00%

    For 2020, Glen Rock Savings Bank's most frequently originated type of loan was Conventional, with 99 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 68 $37,390,000 $549,853 $0 0.00%
    Home Purchase 19 $7,455,000 $392,368 $0 0.00%
    Home Improvement 6 $520,000 $86,667 $0 0.00%
    Other 6 $490,000 $81,667 $0 0.00%

    For 2020, Glen Rock Savings Bank's most frequently cited loan purpose was Refi, with 68 originations. The 2nd most popular reason was Home Purchase, with 19 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 99 $45,855,000 $463,182 $0 0.00%

    For 2020, Glen Rock Savings Bank's most frequently cited loan duration was Other, with 99 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 31 $9,445,000 $304,677 $0 0.00%
    $400k-600k 27 $13,085,000 $484,630 $0 0.00%
    $600k-1MM 15 $10,825,000 $721,667 $0 0.00%
    $100,000 or less 12 $570,000 $47,500 $0 0.00%
    $100k-200k 7 $1,095,000 $156,429 $0 0.00%
    $1MM+ 7 $10,835,000 $1,547,857 $0 0.00%

    2020 saw Glen Rock Savings Bank place emphasis on $200k-400k loans with 31 originations, totaling $9,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 25 $9,725,000 $389,000 $0 0.00%
    $250k+ 22 $12,560,000 $570,909 $0 0.00%
    $100k-150k 10 $1,990,000 $199,000 $0 0.00%
    $75k-100k 9 $2,025,000 $225,000 $0 0.00%
    $50k-75k 4 $550,000 $137,500 $0 0.00%
    $50k or less 2 $130,000 $65,000 $0 0.00%

    Glen Rock Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 25 originations. The second most popular income band? $250k+, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 99 $45,855,000 $463,182 $0 0.00%

    Glen Rock Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 99 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 59 $22,105,000 $374,661 $0 0.00%
    Not applicable 24 $18,350,000 $764,583 $0 0.00%
    Not provided 8 $2,650,000 $331,250 $0 0.00%
    Chinese 3 $1,095,000 $365,000 $0 0.00%
    Asian 2 $970,000 $485,000 $0 0.00%
    Black 2 $510,000 $255,000 $0 0.00%
    Asian Indian 1 $175,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.26%

    Glen Rock Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    85.86%

    Glen Rock Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 99 $45,855,000 $463,182

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $11,600,000 $966,667
    Single Family (1-4 Units):Site-Built 87 $34,255,000 $393,736

    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 $87,383
    Glen Rock Savings Bank 244-250 Lincoln Avenue Hawthorne, NJ 7506 Full Service B&M $45,116
    Glen Rock Savings Bank 474 Prospect Avenue West Orange, NJ 7052 Full Service B&M $50,111
    Glen Rock Savings Bank 83 Northfield Ave West Orange, NJ 7052 Full Service B&M $26,247

    For 2020, Glen Rock Savings Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,411
    Net interest income $5,901
    Total noninterest income $1,077
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $21
    Trading account gains and fees $0
    Additional Noninterest Income $1,056
    Pre-tax net operating income $1,039
    Securities gains (or losses, -) $0
    Income before extraordinary items $797
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $797
    Minority interest net income $0
    Net income $797
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $797

    Glen Rock Savings Bank's gross interest income from loans was $8,411,000.
    Glen Rock Savings Bank's net interest income from loans was $5,901,000.
    Glen Rock Savings Bank's fee based income from loans was $21,000.
    Glen Rock Savings Bank's net income from loans was $797,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,510
    Provision for credit losses $92
    Total noninterest expense $5,847
    Salaries and employee benefits $3,190
    Premises and equipment expense $864
    Additional noninterest expense $1,793
    Applicable income taxes $242
    Net charge-offs $3
    Cash dividends $0

    Glen Rock Savings Bank's interest expense for loans was $2,510,000.
    Glen Rock Savings Bank's payroll and benefits expense were $3,190,000.
    Glen Rock Savings Bank's property, plant and equipment expenses $864,000.

    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 1.0%
    HELOC loans 4.0%
    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 $216,727
    Deposits held in domestic offices $216,727
    Deposits by Individuals, partnerships, and corporations $215,961
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $766
    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 $47,304
    Demand deposits $42,903
    Nontransaction accounts $169,423
    Money market deposit accounts (MMDAs) $3,612
    Other savings deposits (excluding MMDAs) $62,974
    Total time deposits $102,835
    Total time and savings deposits $173,824
    Noninterest-bearing deposits $26,575
    Interest-bearing deposits $190,152
    Retail deposits $196,054
    IRAs and Keogh plan accounts $14,443
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $281,002
    Cash & Balances due from depository institutions $10,108
    Interest-bearing balances $5,490
    Total securities $45,451
    Federal funds sold & reverse repurchase $0
    Net loans and leases $208,452
    Loan and leases loss allowance $1,313
    Trading account assets $0
    Bank premises and fixed assets $7,460
    Other real estate owned $0
    Goodwill and other intangibles $164
    All other assets $9,367

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $281,002
    Total Liabilities $249,520
    Total deposits $216,727
    Interest-bearing deposits $190,152
    Deposits held in domestic offices $216,727
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $28,744
    Subordinated debt $0
    All other liabilities $4,049

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $208,452
    Loan and leases loss allowance $1,313
    Total loans and leases (domestic) $209,765
    All real estate loans $209,067
    Real estate loans in domestic offices $209,067
    Construction and development loans $5,693
    Residential 1-4 family construction $5,693
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $42,291
    Nonfarm nonresidential secured by owner-occupied properties $4,352
    Commercial real estate & other non-farm, non-residential $37,939
    Multifamily residential real estate $19,051
    1-4 family residential loans $142,032
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $949
    To non-U.S. addressees $0
    Loans to individuals $19
    Credit card loans $0
    Related Plans $15
    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 $288
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Glen Rock Savings Bank had $208,452,000 of loans outstanding in 2020. $209,067,000 of loans were in real estate loans. $5,693,000 of loans were in development loans. $19,051,000 of loans were in multifamily mortgage loans. $142,032,000 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 67 $25,117 $374,881
    Nonfarm, nonresidential loans - <$100k 2 $42 $21,000
    Nonfarm, nonresidential loans - $100-250k 11 $1,561 $141,909
    Nonfarm, nonresidential loans - $250k-1MM 54 $23,514 $435,444
    Commercial & Industrial, US addressed loans - <$1MM 4 $949 $237,250
    Commercial & Industrial, US addressed loans - <$100k 1 $99 $99,000
    Commercial & Industrial, US addressed loans - $100-250k 2 $305 $152,500
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $545 $545,000