Lake Shore Savings Bank Mortgage Rates, Fees & Info

Dunkirk, NY

LEI: 549300FEBB5EMDXTC518

Tax ID: 16-0516470

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

Jump to:

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, Cash Out Refi, and Refi 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, Olean, Batavia, and Rochester 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    326

    Origination Dollar Volume (All Markets)

    $82,200,000

    Employee count

    115

    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) 118 $53,640,000 $454,576 $0 0.00%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 196 $26,880,000 $137,143 $0 0.00%
    Olean, NY (FHA|USDA|VA) 10 $1,190,000 $119,000 $0 0.00%
    Batavia, NY (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
    ROCHESTER, NY (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Lake Shore Savings Bank's top markets include Buffalo, Jamestown, Olean, Batavia, and Rochester 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 323 $81,805,000 $253,266 $0 0.00%
    USDA 3 $395,000 $131,667 $0 0.00%

    For 2020, Lake Shore Savings Bank's most frequently originated type of loan was Conventional, with 323 originations. Their 2nd most popular type was USDA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 189 $32,925,000 $174,206 $0 0.00%
    Cash Out Refi 64 $18,650,000 $291,406 $0 0.00%
    Refi 57 $27,525,000 $482,895 $0 0.00%
    Home Improvement 16 $3,100,000 $193,750 $0 0.00%

    For 2020, Lake Shore Savings Bank's most frequently cited loan purpose was Home Purchase, with 189 originations. The 2nd most popular reason was Cash Out Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 326 $82,200,000 $252,147 $0 0.00%

    For 2020, Lake Shore Savings Bank's most frequently cited loan duration was Other, with 326 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 136 $19,180,000 $141,029 $0 0.00%
    $100,000 or less 108 $7,340,000 $67,963 $0 0.00%
    $200k-400k 59 $16,235,000 $275,169 $0 0.00%
    $1MM+ 11 $32,745,000 $2,976,818 $0 0.00%
    $400k-600k 10 $4,920,000 $492,000 $0 0.00%
    $600k-1MM 2 $1,780,000 $890,000 $0 0.00%

    2020 saw Lake Shore Savings Bank place emphasis on $100k-200k loans with 136 originations, totaling $19,180,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 71 $6,155,000 $86,690 $0 0.00%
    $75k-100k 61 $8,725,000 $143,033 $0 0.00%
    $50k-75k 54 $5,940,000 $110,000 $0 0.00%
    $100k-150k 48 $9,150,000 $190,625 $0 0.00%
    $150k-250k 41 $9,365,000 $228,415 $0 0.00%
    $250k+ 12 $2,790,000 $232,500 $0 0.00%

    Lake Shore Savings Bank lent most frequently to those with incomes in the $50k or less range, with 71 originations. The second most popular income band? $75k-100k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 326 $82,200,000 $252,147 $0 0.00%

    Lake Shore Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 326 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 35 $39,535,000 $1,129,571 $0 0.00%
    White 269 $38,755,000 $144,071 $0 0.00%
    Not provided 11 $2,235,000 $203,182 $0 0.00%
    Black 6 $910,000 $151,667 $0 0.00%
    Asian 4 $550,000 $137,500 $0 0.00%
    Native Hawaiian or Islander 1 $215,000 $215,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.57%

    Lake Shore 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
    72.70%

    Lake Shore Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 326 $82,200,000 $252,147

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 25 $37,485,000 $1,499,400
    Single Family (1-4 Units):Site-Built 301 $44,715,000 $148,555

    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 $36,377
    Lake Shore Savings Bank 106 East Main Street Westfield, NY 14787 Full Service B&M $24,795
    Lake Shore Savings Bank 115 East 4th Street Jamestown, NY 14701 Full Service B&M $16,462
    Lake Shore Savings Bank 128 East 4th St Dunkirk, NY 14048 Full Service B&M $136,754
    Lake Shore Savings Bank 128 East 4th St. Dunkirk, NY 14048 Full Service Cyber Office $402
    Lake Shore Savings Bank 30 East Main St. Fredonia, NY 14063 Full Service B&M $85,738
    Lake Shore Savings Bank 3111 Union Road Orchard Park, NY 14127 Full Service B&M $67,694
    Lake Shore Savings Bank 3438 Delaware Ave. Buffalo, NY 14217 Full Service B&M $36,703
    Lake Shore Savings Bank 4950 Main Street Buffalo, NY 14226 Full Service B&M $27,272
    Lake Shore Savings Bank 570 Dick Road Depew, NY 14043 Full Service B&M $33,415
    Lake Shore Savings Bank 5751 Transit Road East Amherst, NY 14051 Full Service B&M $59,427
    Lake Shore Savings Bank 59 Main Street Hamburg, NY 14075 Full Service B&M $31,364

    For 2020, Lake Shore Savings Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,412
    Net interest income $19,898
    Total noninterest income $2,992
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $627
    Trading account gains and fees $0
    Additional Noninterest Income $2,365
    Pre-tax net operating income $5,624
    Securities gains (or losses, -) $58
    Income before extraordinary items $4,774
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,774
    Minority interest net income $0
    Net income $4,774
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,725

    Lake Shore Savings Bank's gross interest income from loans was $24,412,000.
    Lake Shore Savings Bank's net interest income from loans was $19,898,000.
    Lake Shore Savings Bank's fee based income from loans was $627,000.
    Lake Shore Savings Bank's net income from loans was $4,774,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,514
    Provision for credit losses $1,625
    Total noninterest expense $15,641
    Salaries and employee benefits $8,349
    Premises and equipment expense $2,555
    Additional noninterest expense $4,737
    Applicable income taxes $908
    Net charge-offs $35
    Cash dividends $0

    Lake Shore Savings Bank's interest expense for loans was $4,514,000.
    Lake Shore Savings Bank's payroll and benefits expense were $8,349,000.
    Lake Shore Savings Bank's property, plant and equipment expenses $2,555,000.

    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 $565,030
    Deposits held in domestic offices $565,030
    Deposits by Individuals, partnerships, and corporations $559,752
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $5,030
    Deposits by Commercial banks and other depository institutions in U.S. $248
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $176,284
    Demand deposits $105,163
    Nontransaction accounts $388,746
    Money market deposit accounts (MMDAs) $27,443
    Other savings deposits (excluding MMDAs) $201,976
    Total time deposits $159,327
    Total time and savings deposits $459,867
    Noninterest-bearing deposits $95,346
    Interest-bearing deposits $469,684
    Retail deposits $536,794
    IRAs and Keogh plan accounts $27,728
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $686,391
    Cash & Balances due from depository institutions $42,932
    Interest-bearing balances $37,535
    Total securities $79,285
    Federal funds sold & reverse repurchase $0
    Net loans and leases $524,157
    Loan and leases loss allowance $5,857
    Trading account assets $0
    Bank premises and fixed assets $9,619
    Other real estate owned $58
    Goodwill and other intangibles $0
    All other assets $30,340

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $686,391
    Total Liabilities $603,609
    Total deposits $565,030
    Interest-bearing deposits $469,684
    Deposits held in domestic offices $565,030
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $32,587
    Subordinated debt $0
    All other liabilities $5,992

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $524,157
    Loan and leases loss allowance $5,857
    Total loans and leases (domestic) $530,014
    All real estate loans $492,318
    Real estate loans in domestic offices $492,318
    Construction and development loans $29,126
    Residential 1-4 family construction $3,275
    Other construction, all land development and other land $25,851
    Loans secured by nonfarm nonresidential properties $147,033
    Nonfarm nonresidential secured by owner-occupied properties $38,165
    Commercial real estate & other non-farm, non-residential $108,868
    Multifamily residential real estate $105,543
    1-4 family residential loans $210,616
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $36,206
    To non-U.S. addressees $0
    Loans to individuals $1,300
    Credit card loans $0
    Related Plans $264
    Consumer Auto Loans $116
    Other loans to individuals $920
    All other loans & leases $190
    Loans to foreign governments and official institutions $0
    Other loans $190
    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 $235
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Lake Shore Savings Bank had $524,157,000 of loans outstanding in 2020. $492,318,000 of loans were in real estate loans. $29,126,000 of loans were in development loans. $105,543,000 of loans were in multifamily mortgage loans. $210,616,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $116,000 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 125 $32,255 $258,040
    Nonfarm, nonresidential loans - <$100k 27 $1,091 $40,407
    Nonfarm, nonresidential loans - $100-250k 37 $4,848 $131,027
    Nonfarm, nonresidential loans - $250k-1MM 61 $26,316 $431,410
    Commercial & Industrial, US addressed loans - <$1MM 181 $16,048 $88,663
    Commercial & Industrial, US addressed loans - <$100k 117 $2,414 $20,632
    Commercial & Industrial, US addressed loans - $100-250k 34 $4,290 $126,176
    Commercial & Industrial, US addressed loans - $250k-1MM 30 $9,344 $311,467