The Luzerne Bank Mortgage Rates, Fees & Info
Luzerne, PALEI: 549300EJ89CA12ZT7X03
Tax ID: 24-0648945
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Mortgage Data
Bank Data
Review & Overview
The Luzerne Bank is a smaller bank specializing in Refi and Home Purchase loans. The Luzerne Bank has a high proportion of conventional loans. Their top markets by origination volume include: Scranton, Pottsville, East Stroudsburg, Allentown, and Sayre among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)The Luzerne 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. The Luzerne Bank is typically an average 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.51% | 4/21/24 |
| 30 Year Cash-out Refi | 6.38% | 4/21/24 |
| 15 Year Conventional Purchase | 5.68% | 4/21/24 |
| 15 Year Conventional Refi | 5.68% | 4/21/24 |
| 15 Year Cash-out Refi | 5.68% | 4/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
The Luzerne Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
446Origination Dollar Volume (All Markets)
$44,930,000Employee count
75Top 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 |
|---|---|---|---|---|---|
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 425 | $41,155,000 | $96,835 | $5,940 | 4.13% |
| Pottsville, PA (FHA|USDA|VA) | 11 | $2,375,000 | $215,909 | $5,171 | 5.32% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 3 | $745,000 | $248,333 | $10,604 | 4.04% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $0 | 3.94% |
| Sayre, PA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 3.99% |
| Outside of Metro Areas | 1 | $105,000 | $105,000 | $0 | 2.89% |
| BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) | 2 | $70,000 | $35,000 | $0 | 3.94% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 4.99% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against The Luzerne Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 324 | $28,560,000 | $88,148 | n/a | 3.72% |
| Conventional | 122 | $16,370,000 | $134,180 | $6,183 | 5.32% |
For 2019, The Luzerne Bank's most frequently originated type of loan was HELOC, with 324 originations. Their 2nd most popular type was Conventional, with 122 originations.
Loan Reason
For 2019, The Luzerne Bank's most frequently cited loan purpose was Refi, with 186 originations. The 2nd most popular reason was Home Purchase, with 109 originations.
Loan Duration/Length
For 2019, The Luzerne Bank's most frequently cited loan duration was Other, with 324 originations. The 2nd most popular length was 20 Year, with 87 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $2k-3k | 9 | $2,265,000 | $251,667 |
| $1k-2k | 3 | $475,000 | $158,333 |
| $5k+ | 2 | $1,730,000 | $865,000 |
| $<1k | 1 | $15,000 | $15,000 |
| $3k-4k | 1 | $625,000 | $625,000 |
The Luzerne Bank's average total fees were $6,066, while their most frequently occuring range of origination fees (closing costs) were in the $2k-3k bucket, with 9 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 146 | $12,970,000 | $88,836 |
| 3-4% | 114 | $10,560,000 | $92,632 |
| 4-5% | 92 | $9,580,000 | $104,130 |
| 5-6% | 89 | $11,555,000 | $129,831 |
| 6-7% | 5 | $265,000 | $53,000 |
During 2019, The Luzerne Bank's average interest rate for loans was 5.06%, while their most frequently originated rate bucket for loans was 2.5-3%, with 146 originations.
Loan Sizing
2019 saw The Luzerne Bank place emphasis on $100,000 or less loans with 291 originations, totaling $14,795,000 in origination value.
Applicant Income
The Luzerne Bank lent most frequently to those with incomes in the $50k or less range, with 100 originations. The second most popular income band? $50k-75k, with 91 originations.
Applicant Debt to Income Ratio
The Luzerne Bank lent most frequently to those with DTI ratios of 20-30%, with 100 originations. The next most common DTI ratio? 30-36%, with 72 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.94%
The Luzerne Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.44%
The Luzerne Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 446 | $44,930,000 | $100,740 |
Occupancy Type Mix
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The Luzerne Bank | 118 Main Street Luzerne, PA 18709 | Full Service B&M | $100,809 |
| The Luzerne Bank | 1320 Wyoming Avenue Forty Fort, PA 18704 | Full Service B&M | $40,244 |
| The Luzerne Bank | 10 Dessen Drive Hazleton, PA 18201 | Full Service B&M | $34,587 |
| The Luzerne Bank | 1077 Highway 315 Wilkes Barre, PA 18702 | Full Service Retail | $30,659 |
| The Luzerne Bank | 285 South Main Street Pittston, PA 18640 | Full Service B&M | $28,269 |
| The Luzerne Bank | 509 Main Road Dallas, PA 18612 | Full Service B&M | $55,088 |
| The Luzerne Bank | 669 State Route 93 Highway Sugarloaf, PA 18249 | Full Service B&M | $11,294 |
| The Luzerne Bank | 67 Public Square Wilkes Barre, PA 18701 | Full Service B&M | $26,935 |
| The Luzerne Bank | Corners Of Rt. 118 & 415 Dallas, PA 18612 | Full Service B&M | $48,697 |
For 2019, The Luzerne Bank had 9 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $17,692 |
| Net interest income | $14,665 |
| Total noninterest income | $1,004 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $653 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $351 |
| Pre-tax net operating income | $4,749 |
| Securities gains (or losses, -) | $167 |
| Income before extraordinary items | $3,945 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,945 |
| Minority interest net income | $0 |
| Net income | $3,945 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,811 |
The Luzerne Bank's gross interest income from loans was $17,692,000.
The Luzerne Bank's net interest income from loans was $14,665,000.
The Luzerne Bank's fee based income from loans was $653,000.
The Luzerne Bank's net income from loans was $3,945,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,027 |
| Provision for credit losses | $435 |
| Total noninterest expense | $10,485 |
| Salaries and employee benefits | $5,650 |
| Premises and equipment expense | $1,680 |
| Additional noninterest expense | $3,155 |
| Applicable income taxes | $971 |
| Net charge-offs | $96 |
| Cash dividends | $1,145 |
The Luzerne Bank's interest expense for loans was $3,027,000.
The Luzerne Bank's payroll and benefits expense were $5,650,000.
The Luzerne Bank's property, plant and equipment expenses $1,680,000.
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 | 1.0% |
| 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 | $382,260 |
| Deposits held in domestic offices | $382,260 |
| Deposits by Individuals, partnerships, and corporations | $366,392 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $15,869 |
| 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 | $34,475 |
| Demand deposits | $29,340 |
| Nontransaction accounts | $347,786 |
| Money market deposit accounts (MMDAs) | $41,694 |
| Other savings deposits (excluding MMDAs) | $196,912 |
| Total time deposits | $109,179 |
| Total time and savings deposits | $352,921 |
| Noninterest-bearing deposits | $130,517 |
| Interest-bearing deposits | $251,743 |
| Retail deposits | $365,323 |
| IRAs and Keogh plan accounts | $8,342 |
| Brokered deposits | $1,100 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $453,131 |
| Cash & Balances due from depository institutions | $18,335 |
| Interest-bearing balances | $9,289 |
| Total securities | $30,874 |
| Federal funds sold & reverse repurchase | $21,250 |
| Net loans and leases | $343,034 |
| Loan and leases loss allowance | $3,998 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $11,617 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $14,353 |
| All other assets | $13,668 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $453,131 |
| Total Liabilities | $399,962 |
| Total deposits | $382,260 |
| Interest-bearing deposits | $251,743 |
| Deposits held in domestic offices | $382,260 |
| % insured (estimated) | $81 |
| Federal funds purchased and repurchase agreements | $3,015 |
| Trading liabilities | $0 |
| Other borrowed funds | $7,825 |
| Subordinated debt | $0 |
| All other liabilities | $6,862 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $343,034 |
| Loan and leases loss allowance | $3,998 |
| Total loans and leases (domestic) | $347,032 |
| All real estate loans | $266,431 |
| Real estate loans in domestic offices | $266,431 |
| Construction and development loans | $3,654 |
| Residential 1-4 family construction | $1,683 |
| Other construction, all land development and other land | $1,971 |
| Loans secured by nonfarm nonresidential properties | $113,612 |
| Nonfarm nonresidential secured by owner-occupied properties | $21,387 |
| Commercial real estate & other non-farm, non-residential | $92,225 |
| Multifamily residential real estate | $8,169 |
| 1-4 family residential loans | $140,859 |
| Farmland loans | $137 |
| Loans held in foreign offices | $0 |
| Farm loans | $1,350 |
| Commercial and industrial loans | $41,341 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $25,809 |
| Credit card loans | $0 |
| Related Plans | $101 |
| Consumer Auto Loans | $23,342 |
| Other loans to individuals | $2,366 |
| All other loans & leases | $12,101 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $133 |
| Loans to depository institutions and acceptances of other banks | $7,500 |
| Loans not secured by real estate | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,580 |
| Non 1-4 family restructured loans & leases | $1,253 |
| Total loans and leases (foreign) | $0 |
The Luzerne Bank had $343,034,000 of loans outstanding in 2019. $266,431,000 of loans were in real estate loans. $3,654,000 of loans were in development loans. $8,169,000 of loans were in multifamily mortgage loans. $140,859,000 of loans were in 1-4 family mortgage loans. $1,350,000 of loans were in farm loans. $0 of loans were in credit card loans. $23,342,000 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 | 321 | $44,766 | $139,458 |
| Nonfarm, nonresidential loans - <$100k | 95 | $4,096 | $43,116 |
| Nonfarm, nonresidential loans - $100-250k | 127 | $15,076 | $118,709 |
| Nonfarm, nonresidential loans - $250k-1MM | 99 | $25,594 | $258,525 |
| Commercial & Industrial, US addressed loans - <$1MM | 320 | $21,903 | $68,447 |
| Commercial & Industrial, US addressed loans - <$100k | 238 | $6,121 | $25,718 |
| Commercial & Industrial, US addressed loans - $100-250k | 56 | $5,528 | $98,714 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 26 | $10,254 | $394,385 |
| Farmland loans - <$1MM | 2 | $137 | $68,500 |
| Farmland loans - <$100k | 1 | $30 | $30,000 |
| Farmland loans - $100-250k | 1 | $107 | $107,000 |
| Agriculture operations loans - <$1MM | 1 | $24 | $24,000 |
| Agriculture operations loans - <$100k | 1 | $24 | $24,000 |