Howard Bank Mortgage Rates, Fees & Info

Baltimore, MD

LEI: 549300FRCDZ60TVZUA57

Tax ID: 20-0558805

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

Review & Overview

Howard Bank is a smaller bank specializing in Home Purchase and Refi loans. Howard Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Baltimore, Washington, Philadelphia, Portland, and Salisbury among others. We have data for 27 markets. (Some data included below & more in-depth data is available with an active subscription.)

Howard 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. Howard 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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Originations

307

Origination Dollar Volume (All Markets)

$93,865,000

Employee count

235

Awards

Show all (1) awards

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
BALTIMORE-COLUMBIA-TOWSON, MD (FHA\|USDA\|VA)	246	$74,390,000	$302,398	$5,584	3.70%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA\|USDA\|VA)	19	$7,055,000	$371,316	$4,930	3.70%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	7	$1,915,000	$273,571	$5,883	3.57%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA (FHA\|USDA\|VA)	1	$1,355,000	$1,355,000	$4,445	3.38%
SALISBURY, MD-DE (FHA\|USDA\|VA)	4	$1,320,000	$330,000	$3,515	4.03%
YORK-HANOVER, PA (FHA\|USDA\|VA)	6	$1,280,000	$213,333	$6,603	3.60%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA\|USDA\|VA)	3	$735,000	$245,000	$7,959	3.33%
Port Angeles, WA (FHA\|USDA\|VA)	1	$485,000	$485,000	$7,031	2.88%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA\|USDA\|VA)	1	$435,000	$435,000	$3,117	3.25%
FORT COLLINS, CO (FHA\|USDA\|VA)	1	$395,000	$395,000	$3,594	3.50%
Marion, NC (FHA\|USDA\|VA)	1	$375,000	$375,000	$6,356	3.75%
Easton, MD (FHA\|USDA\|VA)	1	$355,000	$355,000	$7,734	3.63%
YUBA CITY, CA (FHA\|USDA\|VA)	1	$355,000	$355,000	$2,778	3.25%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA\|USDA\|VA)	2	$350,000	$175,000	$1,930	3.13%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA\|USDA\|VA)	1	$295,000	$295,000	$2,926	3.13%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	1	$285,000	$285,000	$3,871	3.88%
RALEIGH-CARY, NC (FHA\|USDA\|VA)	1	$285,000	$285,000	$2,506	4.38%
HUNTSVILLE, AL (FHA\|USDA\|VA)	1	$275,000	$275,000	$1,459	2.88%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	1	$265,000	$265,000	$3,512	3.25%
LANCASTER, PA (FHA\|USDA\|VA)	1	$255,000	$255,000	$6,524	3.25%
SAVANNAH, GA (FHA\|USDA\|VA)	1	$235,000	$235,000	$3,711	8.13%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	1	$225,000	$225,000	$7,560	3.25%
WINSTON-SALEM, NC (FHA\|USDA\|VA)	1	$215,000	$215,000	$3,818	3.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	1	$215,000	$215,000	$1,717	3.25%
RENO, NV (FHA\|USDA\|VA)	1	$185,000	$185,000	$3,169	4.13%
RICHMOND, VA (FHA\|USDA\|VA)	1	$165,000	$165,000	$8,321	3.75%
HARRISBURG-CARLISLE, PA (FHA\|USDA\|VA)	1	$165,000	$165,000	$6,826	3.25%

Howard Bank's top markets include Baltimore, Washington, Philadelphia, Portland, and Salisbury among others.

Their top states include:

Maryland (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

Oregon (FHA|USDA|VA)

Delaware (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Howard Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

The First National Bank of Long Island
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The Glen Burnie Mutual Savings Bank
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PATRIOT
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DADE COUNTY FEDERAL CREDIT UNION
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Envision Credit Union
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MOUNTAIN MORTGAGE CORP.
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First Citizens Community Bank
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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	184	$58,380,000	$317,283	$4,159	3.88%
FHA	77	$17,715,000	$230,065	$8,071	3.48%
VA	41	$16,405,000	$400,122	$5,805	3.27%
USDA	5	$1,365,000	$273,000	$6,435	3.23%

For 2020, Howard Bank's most frequently originated type of loan was Conventional, with 184 originations. Their 2nd most popular type was FHA, with 77 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	193	$54,335,000	$281,528	$6,293	3.74%
Refi	85	$29,185,000	$343,353	$3,617	3.55%
Cash Out Refi	27	$8,615,000	$319,074	$5,652	3.74%
Other	2	$1,730,000	$865,000	$4,595	4.31%

For 2020, Howard Bank's most frequently cited loan purpose was Home Purchase, with 193 originations. The 2nd most popular reason was Refi, with 85 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	283	$85,055,000	$300,548	$5,549	3.68%
15 Year	10	$3,230,000	$323,000	$4,537	3.29%
20 Year	7	$2,705,000	$386,429	$3,126	3.43%
5 Year	5	$2,185,000	$437,000	$0	4.65%
10 Year	1	$115,000	$115,000	$0	5.75%
30+ year	1	$575,000	$575,000	$11,347	4.13%

For 2020, Howard Bank's most frequently cited loan duration was 30 Year, with 283 originations. The 2nd most popular length was 15 Year, with 10 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	233	$67,825,000	$291,094
$<1k	40	$15,550,000	$388,750
$2k-3k	9	$2,665,000	$296,111
$3k-4k	5	$1,625,000	$325,000
$5k+	3	$1,725,000	$575,000
$4k-5k	1	$525,000	$525,000

Howard Bank's average total fees were $5,549, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 233 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	247	$77,135,000	$312,287
4-5%	37	$10,675,000	$288,514
2.5-3%	13	$4,415,000	$339,615
5-6%	9	$1,405,000	$156,111
Over 8%	1	$235,000	$235,000

During 2020, Howard Bank's average interest rate for loans was 3.68%, while their most frequently originated rate bucket for loans was 3-4%, with 247 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	159	$44,315,000	$278,711	$5,564	3.64%
$100k-200k	70	$10,730,000	$153,286	$4,949	3.80%
$400k-600k	49	$22,775,000	$464,796	$5,493	3.51%
$600k-1MM	13	$9,915,000	$762,692	$6,749	3.82%
$100,000 or less	12	$940,000	$78,333	$3,903	4.23%
$1MM+	4	$5,190,000	$1,297,500	$9,850	3.63%

2020 saw Howard Bank place emphasis on $200k-400k loans with 159 originations, totaling $44,315,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	71	$15,825,000	$222,887	$4,861	3.51%
$50k-75k	63	$12,925,000	$205,159	$6,160	3.68%
$100k-150k	61	$20,595,000	$337,623	$5,329	3.70%
$75k-100k	45	$12,475,000	$277,222	$5,787	3.82%
$150k-250k	40	$18,260,000	$456,500	$5,887	3.70%
$250k+	19	$10,815,000	$569,211	$4,600	3.70%

Howard Bank lent most frequently to those with incomes in the $50k or less range, with 71 originations. The second most popular income band? $50k-75k, with 63 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	53	$15,935,000	$300,660	$5,103	3.86%
20-30%	44	$13,940,000	$316,818	$4,801	3.63%
<20%	36	$12,750,000	$354,167	$3,887	3.39%
38%	15	$4,195,000	$279,667	$4,152	3.89%
44%	15	$4,405,000	$293,667	$6,042	3.93%
41%	15	$3,805,000	$253,667	$5,918	3.68%
37%	15	$4,095,000	$273,000	$4,156	3.72%
42%	13	$5,115,000	$393,462	$6,846	3.53%
43%	13	$3,225,000	$248,077	$5,595	3.67%
40%	12	$3,520,000	$293,333	$6,800	3.82%
47%	12	$3,790,000	$315,833	$6,984	3.50%
39%	11	$4,115,000	$374,091	$7,660	3.83%
50-60%	11	$3,155,000	$286,818	$9,094	3.30%
48%	11	$2,955,000	$268,636	$6,149	3.58%
36%	10	$2,220,000	$222,000	$6,446	3.65%
46%	4	$870,000	$217,500	$5,415	3.59%
49%	4	$1,180,000	$295,000	$7,563	3.53%
45%	4	$800,000	$200,000	$4,083	3.50%
>60%	1	$825,000	$825,000	$5,267	4.13%

Howard Bank lent most frequently to those with DTI ratios of 30-36%, with 53 originations. The next most common DTI ratio? 20-30%, with 44 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	194	$62,740,000	$323,402	$5,397	3.67%
Black	53	$13,075,000	$246,698	$6,037	3.74%
Not provided	39	$11,205,000	$287,308	$4,900	3.56%
Asian	9	$2,615,000	$290,556	$6,489	3.50%
Not applicable	6	$2,300,000	$383,333	$0	4.84%
Asian Indian	6	$1,930,000	$321,667	$5,416	3.71%

Approval Rates

Total approvals of all applications
94.71%

Howard Bank has an average approval rate.

Pick Rate

Approvals leading to origination
68.40%

Howard Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	307	$93,865,000	$305,749

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	2	$680,000	$340,000
Single Family (1-4 Units):Site-Built	305	$93,185,000	$305,525

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	5	$2,095,000	$419,000	$3,551	3.63%
40-60%	21	$6,935,000	$330,238	$4,875	3.69%
60-80%	57	$18,025,000	$316,228	$3,817	3.72%
80-100%	213	$63,115,000	$296,315	$5,933	3.68%
Over 100%	9	$2,885,000	$320,556	$7,306	3.60%
Under 20%	1	$395,000	$395,000	$0	4.75%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Howard Bank	10101 Philadelphia Road Baltimore, MD 21237	Full Service B&M	$141,398
Howard Bank	10163 Baltimore National Pike Ellicott City, MD 21042	Full Service B&M	$202,352
Howard Bank	10175 Little Patuxent Parkway Columbia, MD 21044	Full Service B&M	$64,788
Howard Bank	1997 Annapolis Exchange Pkwy, Ste 140 Annapolis, MD 21401	Full Service B&M	$74,894
Howard Bank	2028 East Joppa Road Baltimore, MD 21234	Full Service B&M	$135,255
Howard Bank	2129 York Road Timonium, MD 21093	Full Service B&M	$152,145
Howard Bank	2700 Remington Avenue Baltimore, MD 21211	Full Service B&M	$14,549
Howard Bank	3 W Bel Air Avenue Aberdeen, MD 21001	Full Service B&M	$46,977
Howard Bank	305 Crain Highway Glen Burnie, MD 21061	Full Service B&M	$71,670
Howard Bank	3301 Boston Street Baltimore, MD 21224	Full Service B&M	$0
Howard Bank	3301 Boston Street Baltimore, MD 21224	Full Service B&M	$131,726
Howard Bank	4800 Painters Mill Road Owings Mills, MD 21117	Full Service B&M	$102,555
Howard Bank	6 Pearl Street Rising Sun, MD 21911	Full Service B&M	$102,037
Howard Bank	6011 University Boulevard, Suite 150 Ellicott City, MD 21043	Full Service B&M	$366,939
Howard Bank	615 Baltimore Pike, Spaces 25b And 26 Bel Air, MD 21014	Full Service B&M	$95,310
Howard Bank	7860 Wise Avenue Baltimore, MD 21222	Full Service B&M	$130,710

For 2020, Howard Bank had 16 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$86,363
Net interest income	$75,410
Total noninterest income	$8,938
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,194
Trading account gains and fees	$0
Additional Noninterest Income	$6,744
Pre-tax net operating income	$-14,108
Securities gains (or losses, -)	$3,104
Income before extraordinary items	$-15,276
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$-15,276
Minority interest net income	$0
Net income	$-15,276
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$-18,380

Howard Bank's gross interest income from loans was $86,363,000.
Howard Bank's net interest income from loans was $75,410,000.
Howard Bank's fee based income from loans was $2,194,000.
Howard Bank's net income from loans was $-15,276,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$10,953
Provision for credit losses	$9,525
Total noninterest expense	$88,931
Salaries and employee benefits	$28,374
Premises and equipment expense	$5,439
Additional noninterest expense	$55,118
Applicable income taxes	$4,272
Net charge-offs	$764
Cash dividends	$0

Howard Bank's interest expense for loans was $10,953,000.
Howard Bank's payroll and benefits expense were $28,374,000.
Howard Bank's property, plant and equipment expenses $5,439,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	3.0%
HELOC loans	0.0%
All other family	3.0%
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	$1,976,949
Deposits held in domestic offices	$1,976,949
Deposits by Individuals, partnerships, and corporations	$1,883,715
Deposits by U.S. Government	$4
Deposits by States and political subdivisions in the U.S.	$51,007
Deposits by Commercial banks and other depository institutions in U.S.	$42,223
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$893,053
Demand deposits	$893,053
Nontransaction accounts	$1,083,896
Money market deposit accounts (MMDAs)	$439,510
Other savings deposits (excluding MMDAs)	$159,914
Total time deposits	$484,473
Total time and savings deposits	$1,083,896
Noninterest-bearing deposits	$678,336
Interest-bearing deposits	$1,298,613
Retail deposits	$1,685,181
IRAs and Keogh plan accounts	$39,388
Brokered deposits	$239,850
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$2,537,747
Cash & Balances due from depository institutions	$74,573
Interest-bearing balances	$56,582
Total securities	$386,490
Federal funds sold & reverse repurchase	$0
Net loans and leases	$1,846,799
Loan and leases loss allowance	$19,162
Trading account assets	$0
Bank premises and fixed assets	$54,336
Other real estate owned	$743
Goodwill and other intangibles	$37,244
All other assets	$137,562

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$2,537,747
Total Liabilities	$2,216,371
Total deposits	$1,976,949
Interest-bearing deposits	$1,298,613
Deposits held in domestic offices	$1,976,949
% insured (estimated)	$68
Federal funds purchased and repurchase agreements	$13,599
Trading liabilities	$0
Other borrowed funds	$200,000
Subordinated debt	$0
All other liabilities	$25,823

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,846,799
Loan and leases loss allowance	$19,162
Total loans and leases (domestic)	$1,865,961
All real estate loans	$1,300,233
Real estate loans in domestic offices	$1,300,233
Construction and development loans	$116,676
Residential 1-4 family construction	$23,946
Other construction, all land development and other land	$92,730
Loans secured by nonfarm nonresidential properties	$704,606
Nonfarm nonresidential secured by owner-occupied properties	$250,547
Commercial real estate & other non-farm, non-residential	$454,059
Multifamily residential real estate	$35,120
1-4 family residential loans	$440,866
Farmland loans	$2,965
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$496,397
To non-U.S. addressees	$0
Loans to individuals	$64,003
Credit card loans	$0
Related Plans	$3,716
Consumer Auto Loans	$118
Other loans to individuals	$60,169
All other loans & leases	$5,328
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	$1,512
Non 1-4 family restructured loans & leases	$359
Total loans and leases (foreign)	$0

Howard Bank had $1,846,799,000 of loans outstanding in 2020. $1,300,233,000 of loans were in real estate loans. $116,676,000 of loans were in development loans. $35,120,000 of loans were in multifamily mortgage loans. $440,866,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $118,000 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	493	$142,544	$289,136
Nonfarm, nonresidential loans - <$100k	40	$2,048	$51,200
Nonfarm, nonresidential loans - $100-250k	148	$18,015	$121,723
Nonfarm, nonresidential loans - $250k-1MM	305	$122,481	$401,577
Commercial & Industrial, US addressed loans - <$1MM	1,006	$101,301	$100,697
Commercial & Industrial, US addressed loans - <$100k	418	$8,338	$19,947
Commercial & Industrial, US addressed loans - $100-250k	257	$18,335	$71,342
Commercial & Industrial, US addressed loans - $250k-1MM	331	$74,628	$225,462
Farmland loans - <$1MM	5	$1,022	$204,400
Farmland loans - $100-250k	2	$283	$141,500
Farmland loans - $250k-1MM	3	$739	$246,333