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: Seattle, Bremerton, Shelton, and Port Angeles among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Kitsap Bank has a below 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.

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    Originations

    150

    Origination Dollar Volume (All Markets)

    $51,840,000

    Employee count

    277

    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
    Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 23 $34,675,000 $1,507,609 $0 0.00%
    BREMERTON-SILVERDALE-PORT ORCHARD, WA (FHA|USDA|VA) 92 $12,210,000 $132,717 $0 0.00%
    Shelton, WA (FHA|USDA|VA) 14 $2,700,000 $192,857 $0 0.00%
    Outside of Metro Areas 11 $1,145,000 $104,091 $0 0.00%
    Port Angeles, WA (FHA|USDA|VA) 10 $1,110,000 $111,000 $0 0.00%
    Kitsap Bank's top markets include Seattle, Bremerton, Shelton, and Port Angeles among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 150 $51,840,000 $345,600 $0 0.00%

    For 2019, Kitsap Bank's most frequently originated type of loan was Conventional, with 150 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 63 $5,265,000 $83,571 $0 0.00%
    Refi 44 $15,140,000 $344,091 $0 0.00%
    Other 25 $2,645,000 $105,800 $0 0.00%
    Home Purchase 18 $28,790,000 $1,599,444 $0 0.00%

    For 2019, Kitsap Bank's most frequently cited loan purpose was Home Improvement, with 63 originations. The 2nd most popular reason was Refi, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 150 $51,840,000 $345,600 $0 0.00%

    For 2019, Kitsap Bank's most frequently cited loan duration was Other, with 150 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 67 $3,335,000 $49,776 $0 0.00%
    $100k-200k 39 $5,545,000 $142,179 $0 0.00%
    $200k-400k 30 $7,940,000 $264,667 $0 0.00%
    $400k-600k 8 $3,600,000 $450,000 $0 0.00%
    $1MM+ 4 $30,030,000 $7,507,500 $0 0.00%
    $600k-1MM 2 $1,390,000 $695,000 $0 0.00%

    2019 saw Kitsap Bank place emphasis on $100,000 or less loans with 67 originations, totaling $3,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $5,755,000 $155,541 $0 0.00%
    $75k-100k 26 $2,490,000 $95,769 $0 0.00%
    $150k-250k 25 $4,915,000 $196,600 $0 0.00%
    $50k-75k 23 $1,955,000 $85,000 $0 0.00%
    $50k or less 16 $1,260,000 $78,750 $0 0.00%
    $250k+ 12 $5,070,000 $422,500 $0 0.00%

    Kitsap Bank lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $75k-100k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 150 $51,840,000 $345,600 $0 0.00%

    Kitsap Bank lent most frequently to those with DTI ratios of Exempt%, with 150 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 8 $30,040,000 $3,755,000 $0 0.00%
    White 125 $18,775,000 $150,200 $0 0.00%
    Asian 9 $1,745,000 $193,889 $0 0.00%
    Not provided 5 $475,000 $95,000 $0 0.00%
    Black 1 $395,000 $395,000 $0 0.00%
    Japanese 1 $355,000 $355,000 $0 0.00%
    American Indian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    65.10%

    Kitsap Bank has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    70.67%

    Kitsap Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 150 $51,840,000 $345,600

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $30,635,000 $6,127,000
    Single Family (1-4 Units):Manufactured 1 $105,000 $105,000
    Single Family (1-4 Units):Site-Built 144 $21,100,000 $146,528

    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 $55,964
    Kitsap Bank 10488 Silverdale Way, Nw Silverdale, WA 98383 Full Service B&M $95,123
    Kitsap Bank 1320 West Washington Street Sequim, WA 98382 Full Service B&M $31,262
    Kitsap Bank 1700 Village Ln Se Port Orchard, WA 98366 Full Service B&M $50,030
    Kitsap Bank 19371 State Route 410 East Bonney Lake, WA 98391 Full Service B&M $11,697
    Kitsap Bank 19725 7th Avenue Northeast Poulsbo, WA 98370 Full Service B&M $87,789
    Kitsap Bank 2313 East Sims Way Port Townsend, WA 98368 Full Service B&M $56,184
    Kitsap Bank 3324 Bethel Road Southeast Port Orchard, WA 98366 Full Service B&M $20,534
    Kitsap Bank 3425 Wheaton Way Bremerton, WA 98310 Full Service B&M $99,865
    Kitsap Bank 4714 Point Fosdick Dr Nw Gig Harbor, WA 98335 Full Service B&M $37,530
    Kitsap Bank 5209 Pacific Highway East Fife, WA 98424 Full Service B&M $54,775
    Kitsap Bank 607 Pacific Avenue Bremerton, WA 98337 Full Service B&M $75,253
    Kitsap Bank 619 Bay Street Port Orchard, WA 98366 Full Service Cyber Office $542
    Kitsap Bank 619 Bay Street Port Orchard, WA 98366 Full Service B&M $147,284
    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 $26,204
    Kitsap Bank 7109 Pioneer Way, Pioneer Square Gig Harbor, WA 98335 Full Service B&M $11,340
    Kitsap Bank 716 Front Street Port Angeles, WA 98362 Full Service B&M $37,331
    Kitsap Bank 74 Breaker Lane Port Ludlow, WA 98365 Full Service B&M $25,570
    Kitsap Bank 8190 Northeast State Highway 104 Kingston, WA 98346 Full Service B&M $46,484
    Kitsap Bank Ne 24180 State Route 3 Belfair, WA 98528 Full Service B&M $38,275

    For 2019, Kitsap Bank had 21 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $50,005
    Net interest income $48,551
    Total noninterest income $9,410
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,558
    Trading account gains and fees $0
    Additional Noninterest Income $6,852
    Pre-tax net operating income $16,812
    Securities gains (or losses, -) $195
    Income before extraordinary items $15,923
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $15,923
    Minority interest net income $0
    Net income $15,923
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $15,739

    Kitsap Bank's gross interest income from loans was $50,005,000.
    Kitsap Bank's net interest income from loans was $48,551,000.
    Kitsap Bank's fee based income from loans was $2,558,000.
    Kitsap Bank's net income from loans was $15,923,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,454
    Provision for credit losses $600
    Total noninterest expense $40,549
    Salaries and employee benefits $26,715
    Premises and equipment expense $3,139
    Additional noninterest expense $10,695
    Applicable income taxes $1,084
    Net charge-offs $75
    Cash dividends $14,526

    Kitsap Bank's interest expense for loans was $1,454,000.
    Kitsap Bank's payroll and benefits expense were $26,715,000.
    Kitsap Bank's property, plant and equipment expenses $3,139,000.

    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 0.0%
    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 $1,022,753
    Deposits held in domestic offices $1,022,753
    Deposits by Individuals, partnerships, and corporations $997,997
    Deposits by U.S. Government $9,653
    Deposits by States and political subdivisions in the U.S. $14,613
    Deposits by Commercial banks and other depository institutions in U.S. $491
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $161,531
    Demand deposits $124,709
    Nontransaction accounts $861,223
    Money market deposit accounts (MMDAs) $214,026
    Other savings deposits (excluding MMDAs) $579,190
    Total time deposits $68,007
    Total time and savings deposits $898,045
    Noninterest-bearing deposits $345,679
    Interest-bearing deposits $677,074
    Retail deposits $1,008,790
    IRAs and Keogh plan accounts $14,028
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,168,138
    Cash & Balances due from depository institutions $56,071
    Interest-bearing balances $22,791
    Total securities $259,248
    Federal funds sold & reverse repurchase $0
    Net loans and leases $775,641
    Loan and leases loss allowance $8,463
    Trading account assets $0
    Bank premises and fixed assets $23,442
    Other real estate owned $0
    Goodwill and other intangibles $17,565
    All other assets $36,171

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,168,138
    Total Liabilities $1,040,000
    Total deposits $1,022,753
    Interest-bearing deposits $677,074
    Deposits held in domestic offices $1,022,753
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $17,247

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $775,641
    Loan and leases loss allowance $8,463
    Total loans and leases (domestic) $784,104
    All real estate loans $666,116
    Real estate loans in domestic offices $666,116
    Construction and development loans $78,801
    Residential 1-4 family construction $26,898
    Other construction, all land development and other land $51,903
    Loans secured by nonfarm nonresidential properties $429,597
    Nonfarm nonresidential secured by owner-occupied properties $167,504
    Commercial real estate & other non-farm, non-residential $262,093
    Multifamily residential real estate $31,040
    1-4 family residential loans $126,678
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $31
    Commercial and industrial loans $106,058
    To non-U.S. addressees $0
    Loans to individuals $4,662
    Credit card loans $986
    Related Plans $0
    Consumer Auto Loans $1,586
    Other loans to individuals $2,090
    All other loans & leases $7,237
    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 $775,641,000 of loans outstanding in 2019. $666,116,000 of loans were in real estate loans. $78,801,000 of loans were in development loans. $31,040,000 of loans were in multifamily mortgage loans. $126,678,000 of loans were in 1-4 family mortgage loans. $31,000 of loans were in farm loans. $986,000 of loans were in credit card loans. $1,586,000 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 390 $118,093 $302,803
    Nonfarm, nonresidential loans - <$100k 44 $1,877 $42,659
    Nonfarm, nonresidential loans - $100-250k 117 $15,367 $131,342
    Nonfarm, nonresidential loans - $250k-1MM 229 $100,849 $440,389
    Commercial & Industrial, US addressed loans - <$1MM 729 $77,990 $106,982
    Commercial & Industrial, US addressed loans - <$100k 59 $4,506 $76,373
    Commercial & Industrial, US addressed loans - $100-250k 159 $17,657 $111,050
    Commercial & Industrial, US addressed loans - $250k-1MM 511 $55,827 $109,250
    Agriculture operations loans - <$1MM 1 $25 $25,000
    Agriculture operations loans - $100-250k 1 $25 $25,000