Lake Shore Savings Bank Mortgage Rates, Fees & Info

Dunkirk, NY

LEI: 549300FEBB5EMDXTC518

Tax ID: 16-0516470

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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

    Lake Shore Savings Bank is a smaller bank specializing in Home Purchase loans. Lake Shore Savings Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Buffalo, Jamestown, Batavia, and Olean among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Lake Shore Savings Bank has an above average approval rate when compared to the average across all lenders. They have an above 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

    225

    Origination Dollar Volume (All Markets)

    $58,945,000

    Employee count

    113

    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
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 97 $43,965,000 $453,247 $0 0.00%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 120 $13,180,000 $109,833 $0 0.00%
    Outside of Metro Areas 1 $795,000 $795,000 $0 0.00%
    Batavia, NY (FHA|USDA|VA) 3 $515,000 $171,667 $0 0.00%
    Olean, NY (FHA|USDA|VA) 4 $490,000 $122,500 $0 0.00%
    Lake Shore Savings Bank's top markets include Buffalo, Jamestown, Batavia, and Olean among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 223 $58,785,000 $263,610 $0 0.00%
    USDA 2 $160,000 $80,000 $0 0.00%

    For 2019, Lake Shore Savings Bank's most frequently originated type of loan was Conventional, with 223 originations. Their 2nd most popular type was USDA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 159 $40,225,000 $252,987 $0 0.00%
    Cash Out Refi 34 $6,190,000 $182,059 $0 0.00%
    Refi 19 $8,545,000 $449,737 $0 0.00%
    Home Improvement 13 $3,985,000 $306,538 $0 0.00%

    For 2019, Lake Shore Savings Bank's most frequently cited loan purpose was Home Purchase, with 159 originations. The 2nd most popular reason was Cash Out Refi, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 225 $58,945,000 $261,978 $0 0.00%

    For 2019, Lake Shore Savings Bank's most frequently cited loan duration was Other, with 225 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 102 $6,500,000 $63,725 $0 0.00%
    $100k-200k 60 $8,800,000 $146,667 $0 0.00%
    $200k-400k 34 $9,040,000 $265,882 $0 0.00%
    $1MM+ 12 $23,430,000 $1,952,500 $0 0.00%
    $600k-1MM 11 $8,475,000 $770,455 $0 0.00%
    $400k-600k 6 $2,700,000 $450,000 $0 0.00%

    2019 saw Lake Shore Savings Bank place emphasis on $100,000 or less loans with 102 originations, totaling $6,500,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 58 $6,090,000 $105,000 $0 0.00%
    $50k or less 45 $3,165,000 $70,333 $0 0.00%
    $100k-150k 26 $3,870,000 $148,846 $0 0.00%
    $75k-100k 20 $2,480,000 $124,000 $0 0.00%
    $150k-250k 18 $4,210,000 $233,889 $0 0.00%
    $250k+ 4 $970,000 $242,500 $0 0.00%

    Lake Shore Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 58 originations. The second most popular income band? $50k or less, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 225 $58,945,000 $261,978 $0 0.00%

    Lake Shore Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 225 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 49 $37,635,000 $768,061 $0 0.00%
    White 169 $20,765,000 $122,870 $0 0.00%
    Not provided 4 $350,000 $87,500 $0 0.00%
    Black 3 $195,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.66%

    Lake Shore Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.67%

    Lake Shore Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 225 $58,945,000 $261,978

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 35 $34,435,000 $983,857
    Single Family (1-4 Units):Manufactured 6 $680,000 $113,333
    Single Family (1-4 Units):Site-Built 184 $23,830,000 $129,511

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Lake Shore Savings Bank 1 N Green Ave, Wegmans Plaza Jamestown, NY 14701 Full Service B&M $32,517
    Lake Shore Savings Bank 106 East Main Street Westfield, NY 14787 Full Service B&M $21,629
    Lake Shore Savings Bank 115 East 4th Street Jamestown, NY 14701 Full Service B&M $12,637
    Lake Shore Savings Bank 128 East 4th St Dunkirk, NY 14048 Full Service B&M $108,119
    Lake Shore Savings Bank 128 East 4th St. Dunkirk, NY 14048 Full Service Cyber Office $278
    Lake Shore Savings Bank 30 East Main St. Fredonia, NY 14063 Full Service B&M $73,576
    Lake Shore Savings Bank 3111 Union Road Orchard Park, NY 14127 Full Service B&M $59,519
    Lake Shore Savings Bank 3438 Delaware Ave. Buffalo, NY 14217 Full Service B&M $30,772
    Lake Shore Savings Bank 4950 Main Street Buffalo, NY 14226 Full Service B&M $22,183
    Lake Shore Savings Bank 570 Dick Road Depew, NY 14043 Full Service B&M $26,387
    Lake Shore Savings Bank 5751 Transit Road East Amherst, NY 14051 Full Service B&M $46,851
    Lake Shore Savings Bank 59 Main Street Hamburg, NY 14075 Full Service B&M $28,920

    For 2019, Lake Shore Savings Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,365
    Net interest income $19,022
    Total noninterest income $2,328
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $865
    Trading account gains and fees $0
    Additional Noninterest Income $1,463
    Pre-tax net operating income $4,838
    Securities gains (or losses, -) $96
    Income before extraordinary items $4,218
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,218
    Minority interest net income $0
    Net income $4,218
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,136

    Lake Shore Savings Bank's gross interest income from loans was $24,365,000.
    Lake Shore Savings Bank's net interest income from loans was $19,022,000.
    Lake Shore Savings Bank's fee based income from loans was $865,000.
    Lake Shore Savings Bank's net income from loans was $4,218,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,343
    Provision for credit losses $900
    Total noninterest expense $15,612
    Salaries and employee benefits $8,490
    Premises and equipment expense $2,460
    Additional noninterest expense $4,662
    Applicable income taxes $716
    Net charge-offs $81
    Cash dividends $0

    Lake Shore Savings Bank's interest expense for loans was $5,343,000.
    Lake Shore Savings Bank's payroll and benefits expense were $8,490,000.
    Lake Shore Savings Bank's property, plant and equipment expenses $2,460,000.

    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 1.0%
    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 $488,516
    Deposits held in domestic offices $488,516
    Deposits by Individuals, partnerships, and corporations $481,964
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $5,816
    Deposits by Commercial banks and other depository institutions in U.S. $736
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $117,483
    Demand deposits $67,074
    Nontransaction accounts $371,033
    Money market deposit accounts (MMDAs) $20,631
    Other savings deposits (excluding MMDAs) $179,884
    Total time deposits $170,518
    Total time and savings deposits $421,442
    Noninterest-bearing deposits $64,519
    Interest-bearing deposits $423,997
    Retail deposits $456,593
    IRAs and Keogh plan accounts $26,273
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $610,872
    Cash & Balances due from depository institutions $30,246
    Interest-bearing balances $24,959
    Total securities $71,201
    Federal funds sold & reverse repurchase $0
    Net loans and leases $470,824
    Loan and leases loss allowance $4,267
    Trading account assets $0
    Bank premises and fixed assets $10,191
    Other real estate owned $779
    Goodwill and other intangibles $0
    All other assets $27,631

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $610,872
    Total Liabilities $531,405
    Total deposits $488,516
    Interest-bearing deposits $423,997
    Deposits held in domestic offices $488,516
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $37,723
    Subordinated debt $0
    All other liabilities $5,166

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $470,824
    Loan and leases loss allowance $4,267
    Total loans and leases (domestic) $475,091
    All real estate loans $452,834
    Real estate loans in domestic offices $452,834
    Construction and development loans $32,650
    Residential 1-4 family construction $1,172
    Other construction, all land development and other land $31,478
    Loans secured by nonfarm nonresidential properties $137,605
    Nonfarm nonresidential secured by owner-occupied properties $38,933
    Commercial real estate & other non-farm, non-residential $98,672
    Multifamily residential real estate $70,877
    1-4 family residential loans $211,702
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $20,813
    To non-U.S. addressees $0
    Loans to individuals $1,175
    Credit card loans $0
    Related Plans $312
    Consumer Auto Loans $26
    Other loans to individuals $837
    All other loans & leases $269
    Loans to foreign governments and official institutions $0
    Other loans $269
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $152
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $138
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Lake Shore Savings Bank had $470,824,000 of loans outstanding in 2019. $452,834,000 of loans were in real estate loans. $32,650,000 of loans were in development loans. $70,877,000 of loans were in multifamily mortgage loans. $211,702,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $26,000 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 129 $32,119 $248,984
    Nonfarm, nonresidential loans - <$100k 31 $1,447 $46,677
    Nonfarm, nonresidential loans - $100-250k 39 $5,365 $137,564
    Nonfarm, nonresidential loans - $250k-1MM 59 $25,307 $428,932
    Commercial & Industrial, US addressed loans - <$1MM 137 $9,778 $71,372
    Commercial & Industrial, US addressed loans - <$100k 99 $1,467 $14,818
    Commercial & Industrial, US addressed loans - $100-250k 17 $1,757 $103,353
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $6,554 $312,095