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 and Cash Out 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, Rochester, Batavia, and Olean among others. We have data for 6 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

    391

    Origination Dollar Volume (All Markets)

    $89,325,000

    Employee count

    110

    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) 142 $53,730,000 $378,380 $0 0.00%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 236 $30,270,000 $128,263 $0 0.00%
    ROCHESTER, NY (FHA|USDA|VA) 2 $3,810,000 $1,905,000 $0 0.00%
    Batavia, NY (FHA|USDA|VA) 6 $620,000 $103,333 $0 0.00%
    Outside of Metro Areas 4 $520,000 $130,000 $0 0.00%
    Olean, NY (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
    Lake Shore Savings Bank's top markets include Buffalo, Jamestown, Rochester, 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 389 $89,045,000 $228,907 $0 0.00%
    USDA 2 $280,000 $140,000 $0 0.00%

    For 2021, Lake Shore Savings Bank's most frequently originated type of loan was Conventional, with 389 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 205 $48,305,000 $235,634 $0 0.00%
    Cash Out Refi 121 $23,185,000 $191,612 $0 0.00%
    Refi 51 $11,625,000 $227,941 $0 0.00%
    Home Improvement 14 $6,210,000 $443,571 $0 0.00%

    For 2021, Lake Shore Savings Bank's most frequently cited loan purpose was Home Purchase, with 205 originations. The 2nd most popular reason was Cash Out Refi, with 121 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 391 $89,325,000 $228,453 $0 0.00%

    For 2021, Lake Shore Savings Bank's most frequently cited loan duration was Other, with 391 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 146 $20,930,000 $143,356 $0 0.00%
    $100,000 or less 143 $9,575,000 $66,958 $0 0.00%
    $200k-400k 67 $17,735,000 $264,701 $0 0.00%
    $400k-600k 14 $6,900,000 $492,857 $0 0.00%
    $600k-1MM 11 $8,795,000 $799,545 $0 0.00%
    $1MM+ 10 $25,390,000 $2,539,000 $0 0.00%

    2021 saw Lake Shore Savings Bank place emphasis on $100k-200k loans with 146 originations, totaling $20,930,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 83 $7,085,000 $85,361 $0 0.00%
    $50k-75k 80 $9,740,000 $121,750 $0 0.00%
    $75k-100k 52 $8,080,000 $155,385 $0 0.00%
    $100k-150k 43 $6,905,000 $160,581 $0 0.00%
    $150k-250k 36 $7,620,000 $211,667 $0 0.00%
    $250k+ 15 $4,535,000 $302,333 $0 0.00%

    Lake Shore Savings Bank lent most frequently to those with incomes in the $50k or less range, with 83 originations. The second most popular income band? $50k-75k, with 80 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 391 $89,325,000 $228,453 $0 0.00%

    Lake Shore Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 391 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 309 $42,965,000 $139,045 $0 0.00%
    Not applicable 53 $41,435,000 $781,792 $0 0.00%
    Not provided 17 $3,165,000 $186,176 $0 0.00%
    Asian 4 $1,020,000 $255,000 $0 0.00%
    Black 6 $520,000 $86,667 $0 0.00%
    Asian Indian 1 $175,000 $175,000 $0 0.00%
    American Indian 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.08%

    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
    78.01%

    Lake Shore Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 391 $89,325,000 $228,453

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    391 $89,325,000 $228,453

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Lake Shore Savings Bank 3438 Delaware Ave. Buffalo, NY 14217 Full Service B&M $42,629
    Lake Shore Savings Bank 1 N Green Ave, Wegmans Plaza Jamestown, NY 14701 Full Service B&M $41,758
    Lake Shore Savings Bank 106 East Main Street Westfield, NY 14787 Full Service B&M $25,521
    Lake Shore Savings Bank 115 East 4th Street Jamestown, NY 14701 Full Service B&M $19,898
    Lake Shore Savings Bank 128 East 4th St Dunkirk, NY 14048 Full Service B&M $131,986
    Lake Shore Savings Bank 128 East 4th St. Dunkirk, NY 14048 Full Service Cyber Office $672
    Lake Shore Savings Bank 30 East Main St. Fredonia, NY 14063 Full Service B&M $97,746
    Lake Shore Savings Bank 3111 Union Road Orchard Park, NY 14127 Full Service B&M $77,347
    Lake Shore Savings Bank 4950 Main Street Buffalo, NY 14226 Full Service B&M $29,881
    Lake Shore Savings Bank 570 Dick Road Depew, NY 14043 Full Service B&M $34,107
    Lake Shore Savings Bank 5751 Transit Road East Amherst, NY 14051 Full Service B&M $58,419
    Lake Shore Savings Bank 59 Main Street Hamburg, NY 14075 Full Service B&M $32,472

    For 2021, Lake Shore Savings Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,851
    Net interest income $22,085
    Total noninterest income $2,961
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $645
    Trading account gains and fees $0
    Additional Noninterest Income $2,316
    Pre-tax net operating income $7,738
    Securities gains (or losses, -) $26
    Income before extraordinary items $6,393
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,393
    Minority interest net income $0
    Net income $6,393
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,371

    Lake Shore Savings Bank's gross interest income from loans was $24,851,000.
    Lake Shore Savings Bank's net interest income from loans was $22,085,000.
    Lake Shore Savings Bank's fee based income from loans was $645,000.
    Lake Shore Savings Bank's net income from loans was $6,393,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,766
    Provision for credit losses $650
    Total noninterest expense $16,658
    Salaries and employee benefits $8,727
    Premises and equipment expense $2,816
    Additional noninterest expense $5,115
    Applicable income taxes $1,371
    Net charge-offs $389
    Cash dividends $0

    Lake Shore Savings Bank's interest expense for loans was $2,766,000.
    Lake Shore Savings Bank's payroll and benefits expense were $8,727,000.
    Lake Shore Savings Bank's property, plant and equipment expenses $2,816,000.

    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 0.0%
    Multifamily residential loans 7.0%
    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 $598,077
    Deposits held in domestic offices $598,077
    Deposits by Individuals, partnerships, and corporations $592,839
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $5,238
    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 $205,554
    Demand deposits $116,617
    Nontransaction accounts $392,523
    Money market deposit accounts (MMDAs) $37,046
    Other savings deposits (excluding MMDAs) $218,113
    Total time deposits $137,363
    Total time and savings deposits $481,460
    Noninterest-bearing deposits $114,526
    Interest-bearing deposits $483,551
    Retail deposits $570,768
    IRAs and Keogh plan accounts $25,566
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $714,033
    Cash & Balances due from depository institutions $68,169
    Interest-bearing balances $62,227
    Total securities $88,817
    Federal funds sold & reverse repurchase $0
    Net loans and leases $517,222
    Loan and leases loss allowance $6,118
    Trading account assets $0
    Bank premises and fixed assets $10,375
    Other real estate owned $123
    Goodwill and other intangibles $220
    All other assets $29,107

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $714,033
    Total Liabilities $628,810
    Total deposits $598,077
    Interest-bearing deposits $483,551
    Deposits held in domestic offices $598,077
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $24,526
    Subordinated debt $0
    All other liabilities $6,207

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $517,222
    Loan and leases loss allowance $6,118
    Total loans and leases (domestic) $523,340
    All real estate loans $502,104
    Real estate loans in domestic offices $502,104
    Construction and development loans $25,619
    Residential 1-4 family construction $4,344
    Other construction, all land development and other land $21,275
    Loans secured by nonfarm nonresidential properties $155,968
    Nonfarm nonresidential secured by owner-occupied properties $42,581
    Commercial real estate & other non-farm, non-residential $113,387
    Multifamily residential real estate $98,951
    1-4 family residential loans $221,566
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $19,345
    To non-U.S. addressees $0
    Loans to individuals $1,328
    Credit card loans $0
    Related Plans $228
    Consumer Auto Loans $96
    Other loans to individuals $1,004
    All other loans & leases $563
    Loans to foreign governments and official institutions $0
    Other loans $563
    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 $259
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Lake Shore Savings Bank had $517,222,000 of loans outstanding in 2021. $502,104,000 of loans were in real estate loans. $25,619,000 of loans were in development loans. $98,951,000 of loans were in multifamily mortgage loans. $221,566,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $96,000 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 132 $37,527 $284,295
    Nonfarm, nonresidential loans - <$100k 25 $982 $39,280
    Nonfarm, nonresidential loans - $100-250k 40 $5,528 $138,200
    Nonfarm, nonresidential loans - $250k-1MM 67 $31,017 $462,940
    Commercial & Industrial, US addressed loans - <$1MM 129 $9,773 $75,760
    Commercial & Industrial, US addressed loans - <$100k 87 $1,091 $12,540
    Commercial & Industrial, US addressed loans - $100-250k 17 $1,198 $70,471
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $7,484 $299,360