Kitsap Bank Mortgage Rates, Fees & Info

Port Orchard, WA

LEI: 549300HGZNH5YBU04369

Tax ID: 91-0283150

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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

    Kitsap Bank is a smaller bank specializing in Refi and Home Purchase loans. Kitsap Bank has a high proportion of conventional loans. Their top markets by origination volume include: Bremerton, Seattle, Port Angeles, Shelton, and Ellensburg among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Kitsap Bank has an 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.

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    Originations

    221

    Origination Dollar Volume (All Markets)

    $65,075,000

    Employee count

    293

    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
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 128 $36,990,000 $288,984 $0 0.00%
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 40 $21,710,000 $542,750 $0 0.00%
    Outside of Metro Areas 32 $4,050,000 $126,563 $0 0.00%
    Port Angeles, WA (FHA|USDA|VA) 9 $705,000 $78,333 $0 0.00%
    Shelton, WA (FHA|USDA|VA) 6 $580,000 $96,667 $0 0.00%
    Ellensburg, WA (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
    OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 3 $375,000 $125,000 $0 0.00%
    KENNEWICK-RICHLAND, WA (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Aberdeen, WA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Kitsap Bank's top markets include Bremerton, Seattle, Port Angeles, Shelton, and Ellensburg among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 129 $46,175,000 $357,946 $0 0.00%
    HELOC 92 $18,900,000 $205,435 n/a 0.00%

    For 2018, Kitsap Bank's most frequently originated type of loan was Conventional, with 129 originations. Their 2nd most popular type was HELOC, with 92 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 84 $26,180,000 $311,667 $0 0.00%
    Home Improvement 54 $6,370,000 $117,963 $0 0.00%
    Other 45 $5,965,000 $132,556 $0 0.00%
    Home Purchase 38 $26,560,000 $698,947 $0 0.00%

    For 2018, Kitsap Bank's most frequently cited loan purpose was Refi, with 84 originations. The 2nd most popular reason was Home Improvement, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 221 $65,075,000 $294,457 $0 0.00%

    For 2018, Kitsap Bank's most frequently cited loan duration was Other, with 221 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 80 $4,670,000 $58,375 $0 0.00%
    $100k-200k 62 $8,530,000 $137,581 $0 0.00%
    $200k-400k 38 $9,980,000 $262,632 $0 0.00%
    $400k-600k 20 $9,390,000 $469,500 $0 0.00%
    $600k-1MM 12 $9,030,000 $752,500 $0 0.00%
    $1MM+ 9 $23,475,000 $2,608,333 $0 0.00%

    2018 saw Kitsap Bank place emphasis on $100,000 or less loans with 80 originations, totaling $4,670,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 54 $9,290,000 $172,037 $0 0.00%
    $50k-75k 42 $4,000,000 $95,238 $0 0.00%
    $150k-250k 38 $12,510,000 $329,211 $0 0.00%
    $75k-100k 29 $4,255,000 $146,724 $0 0.00%
    $250k+ 22 $15,210,000 $691,364 $0 0.00%
    $50k or less 18 $1,560,000 $86,667 $0 0.00%

    Kitsap Bank lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $50k-75k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 221 $65,075,000 $294,457 $0 0.00%

    Kitsap Bank lent most frequently to those with DTI ratios of Exempt%, with 221 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 183 $37,745,000 $206,257 $0 0.00%
    Not applicable 13 $17,605,000 $1,354,231 $0 0.00%
    Asian 11 $6,125,000 $556,818 $0 0.00%
    Not provided 10 $2,880,000 $288,000 $0 0.00%
    American Indian 3 $565,000 $188,333 $0 0.00%
    Black 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    72.32%

    Kitsap Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.59%

    Kitsap Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 221 $65,075,000 $294,457

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $14,340,000 $3,585,000
    Single Family (1-4 Units):Manufactured 3 $265,000 $88,333
    Single Family (1-4 Units):Site-Built 214 $50,470,000 $235,841

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Kitsap Bank 10140 N.E. High School Road Bainbridge Island, WA 98110 Full Service B&M $62,124
    Kitsap Bank 10488 Silverdale Way, Nw Silverdale, WA 98383 Full Service B&M $89,461
    Kitsap Bank 1320 West Washington Street Sequim, WA 98382 Full Service B&M $33,476
    Kitsap Bank 1700 Village Ln Se Port Orchard, WA 98366 Full Service B&M $48,051
    Kitsap Bank 19371 State Route 410 East Bonney Lake, WA 98391 Full Service B&M $13,876
    Kitsap Bank 19725 7th Avenue Northeast Poulsbo, WA 98370 Full Service B&M $88,233
    Kitsap Bank 2313 East Sims Way Port Townsend, WA 98368 Full Service B&M $62,007
    Kitsap Bank 3324 Bethel Road Southeast Port Orchard, WA 98366 Full Service B&M $18,642
    Kitsap Bank 3425 Wheaton Way Bremerton, WA 98310 Full Service B&M $100,131
    Kitsap Bank 4714 Point Fosdick Dr Nw Gig Harbor, WA 98335 Full Service B&M $30,300
    Kitsap Bank 5209 Pacific Highway East Fife, WA 98424 Full Service B&M $58,760
    Kitsap Bank 607 Pacific Avenue Bremerton, WA 98337 Full Service B&M $79,095
    Kitsap Bank 619 Bay Street Port Orchard, WA 98366 Full Service Cyber Office $564
    Kitsap Bank 619 Bay Street Port Orchard, WA 98366 Full Service B&M $135,633
    Kitsap Bank 625 Bay Street Port Orchard, WA 98366 Limited, Drive-thru $0
    Kitsap Bank 69 Oak Bay Road Port Hadlock, WA 98339 Full Service B&M $23,807
    Kitsap Bank 7109 Pioneer Way, Pioneer Square Gig Harbor, WA 98335 Full Service B&M $10,782
    Kitsap Bank 716 Front Street Port Angeles, WA 98362 Full Service B&M $36,714
    Kitsap Bank 74 Breaker Lane Port Ludlow, WA 98365 Full Service B&M $27,378
    Kitsap Bank 8190 Northeast State Highway 104 Kingston, WA 98346 Full Service B&M $46,835
    Kitsap Bank Ne 24180 State Route 3 Belfair, WA 98528 Full Service B&M $41,325

    For 2018, Kitsap Bank had 21 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $46,220
    Net interest income $45,345
    Total noninterest income $8,695
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,791
    Trading account gains and fees $0
    Additional Noninterest Income $5,904
    Pre-tax net operating income $14,925
    Securities gains (or losses, -) $-642
    Income before extraordinary items $14,283
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,283
    Minority interest net income $0
    Net income $14,283
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $14,925

    Kitsap Bank's gross interest income from loans was $46,220,000.
    Kitsap Bank's net interest income from loans was $45,345,000.
    Kitsap Bank's fee based income from loans was $2,791,000.
    Kitsap Bank's net income from loans was $14,283,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $875
    Provision for credit losses $480
    Total noninterest expense $38,635
    Salaries and employee benefits $24,885
    Premises and equipment expense $3,155
    Additional noninterest expense $10,595
    Applicable income taxes $0
    Net charge-offs $-214
    Cash dividends $15,367

    Kitsap Bank's interest expense for loans was $875,000.
    Kitsap Bank's payroll and benefits expense were $24,885,000.
    Kitsap Bank's property, plant and equipment expenses $3,155,000.

    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 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.1%
    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 $1,001,447
    Deposits held in domestic offices $1,001,447
    Deposits by Individuals, partnerships, and corporations $975,301
    Deposits by U.S. Government $12,255
    Deposits by States and political subdivisions in the U.S. $13,890
    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 $156,729
    Demand deposits $124,262
    Nontransaction accounts $844,717
    Money market deposit accounts (MMDAs) $219,519
    Other savings deposits (excluding MMDAs) $554,960
    Total time deposits $70,238
    Total time and savings deposits $877,184
    Noninterest-bearing deposits $336,613
    Interest-bearing deposits $664,834
    Retail deposits $997,275
    IRAs and Keogh plan accounts $14,706
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,136,184
    Cash & Balances due from depository institutions $48,134
    Interest-bearing balances $29,912
    Total securities $283,873
    Federal funds sold & reverse repurchase $0
    Net loans and leases $732,220
    Loan and leases loss allowance $7,937
    Trading account assets $158
    Bank premises and fixed assets $23,607
    Other real estate owned $0
    Goodwill and other intangibles $17,769
    All other assets $30,423

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,136,184
    Total Liabilities $1,016,606
    Total deposits $1,001,447
    Interest-bearing deposits $664,834
    Deposits held in domestic offices $1,001,447
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $158
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $15,001

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $732,220
    Loan and leases loss allowance $7,937
    Total loans and leases (domestic) $740,157
    All real estate loans $652,784
    Real estate loans in domestic offices $652,784
    Construction and development loans $109,995
    Residential 1-4 family construction $35,313
    Other construction, all land development and other land $74,682
    Loans secured by nonfarm nonresidential properties $387,031
    Nonfarm nonresidential secured by owner-occupied properties $163,740
    Commercial real estate & other non-farm, non-residential $223,291
    Multifamily residential real estate $18,634
    1-4 family residential loans $137,124
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $45
    Commercial and industrial loans $80,779
    To non-U.S. addressees $0
    Loans to individuals $4,462
    Credit card loans $1,100
    Related Plans $0
    Consumer Auto Loans $1,573
    Other loans to individuals $1,789
    All other loans & leases $4,135
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Kitsap Bank had $732,220,000 of loans outstanding in 2018. $652,784,000 of loans were in real estate loans. $109,995,000 of loans were in development loans. $18,634,000 of loans were in multifamily mortgage loans. $137,124,000 of loans were in 1-4 family mortgage loans. $45,000 of loans were in farm loans. $1,100,000 of loans were in credit card loans. $1,573,000 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 392 $116,805 $297,972
    Nonfarm, nonresidential loans - <$100k 49 $2,185 $44,592
    Nonfarm, nonresidential loans - $100-250k 124 $16,943 $136,637
    Nonfarm, nonresidential loans - $250k-1MM 219 $97,677 $446,014
    Commercial & Industrial, US addressed loans - <$1MM 718 $59,197 $82,447
    Commercial & Industrial, US addressed loans - <$100k 299 $6,327 $21,161
    Commercial & Industrial, US addressed loans - $100-250k 118 $11,375 $96,398
    Commercial & Industrial, US addressed loans - $250k-1MM 301 $41,495 $137,857
    Agriculture operations loans - <$1MM 1 $45 $45,000
    Agriculture operations loans - $100-250k 1 $45 $45,000