First Shore Federal Savings And Loan Association Mortgage Rates, Fees & Info

Salisbury, MD

LEI: 549300HJP2WLL8KDCA15

Tax ID: 52-0633253

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    First Shore Federal Savings And Loan Association is a smaller mortgage company specializing in Home Purchase and Refi loans. First Shore Federal Savings And Loan Association has a high proportion of conventional loans. Their top markets by origination volume include: Salisbury, Dover, Easton, and Cambridge among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Shore Federal Savings And Loan Association 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

    279

    Origination Dollar Volume (All Markets)

    $35,785,000

    Employee count

    69

    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
    SALISBURY, MD-DE (FHA|USDA|VA) 263 $34,365,000 $130,665 $0 0.00%
    DOVER, DE (FHA|USDA|VA) 9 $695,000 $77,222 $0 0.00%
    Easton, MD (FHA|USDA|VA) 2 $420,000 $210,000 $0 0.00%
    Outside of Metro Areas 3 $225,000 $75,000 $0 0.00%
    Cambridge, MD (FHA|USDA|VA) 2 $80,000 $40,000 $0 0.00%
    First Shore Federal Savings And Loan Association's top markets include Salisbury, Dover, Easton, and Cambridge among others.

    Their top states include:
  • Delaware (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 279 $35,785,000 $128,262 $0 0.00%

    For 2021, First Shore Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 279 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 188 $25,130,000 $133,670 $0 0.00%
    Refi 65 $8,495,000 $130,692 $0 0.00%
    Home Improvement 15 $1,515,000 $101,000 $0 0.00%
    Other 11 $645,000 $58,636 $0 0.00%

    For 2021, First Shore Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 188 originations. The 2nd most popular reason was Refi, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 279 $35,785,000 $128,262 $0 0.00%

    For 2021, First Shore Federal Savings And Loan Association's most frequently cited loan duration was Other, with 279 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 151 $8,885,000 $58,841 $0 0.00%
    $100k-200k 86 $12,130,000 $141,047 $0 0.00%
    $200k-400k 32 $8,620,000 $269,375 $0 0.00%
    $400k-600k 7 $3,285,000 $469,286 $0 0.00%
    $600k-1MM 2 $1,510,000 $755,000 $0 0.00%
    $1MM+ 1 $1,355,000 $1,355,000 $0 0.00%

    2021 saw First Shore Federal Savings And Loan Association place emphasis on $100,000 or less loans with 151 originations, totaling $8,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 62 $5,170,000 $83,387 $0 0.00%
    $100k-150k 59 $8,185,000 $138,729 $0 0.00%
    $150k-250k 56 $7,490,000 $133,750 $0 0.00%
    $50k or less 49 $4,185,000 $85,408 $0 0.00%
    $75k-100k 32 $3,250,000 $101,563 $0 0.00%
    $250k+ 21 $7,505,000 $357,381 $0 0.00%

    First Shore Federal Savings And Loan Association lent most frequently to those with incomes in the $50k-75k range, with 62 originations. The second most popular income band? $100k-150k, with 59 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 279 $35,785,000 $128,262 $0 0.00%

    First Shore Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 279 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 234 $31,180,000 $133,248 $0 0.00%
    Not provided 28 $2,880,000 $102,857 $0 0.00%
    Black 10 $960,000 $96,000 $0 0.00%
    Asian 4 $610,000 $152,500 $0 0.00%
    American Indian 3 $155,000 $51,667 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.49%

    First Shore Federal Savings And Loan Association has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    80.29%

    First Shore Federal Savings And Loan Association has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 279 $35,785,000 $128,262

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    279 $35,785,000 $128,262

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    First Technology Federal Credit Union Conventional home mortgage Incorrect information on your report 1 14.3%
    First Technology Federal Credit Union Conventional home mortgage Closing on a mortgage 1 14.3%
    First Technology Federal Credit Union Other type of mortgage Trouble during payment process 1 14.3%
    First Technology Federal Credit Union Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    First Technology Federal Credit Union FHA mortgage Struggling to pay mortgage 1 14.3%
    First Technology Federal Credit Union Conventional home mortgage Trouble during payment process 2 28.6%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    First Shore Federal Savings and Loan Association 106 S. Division Street Salisbury, MD 21801 Full Service B&M $46,262
    First Shore Federal Savings and Loan Association 107 Green Street Snow Hill, MD 21863 Full Service B&M $12,758
    First Shore Federal Savings and Loan Association 11029 Racetrack Road Berlin, MD 21811 Full Service B&M $35,223
    First Shore Federal Savings and Loan Association 1116 Mt. Hermon Road Salisbury, MD 21804 Full Service B&M $97,825
    First Shore Federal Savings and Loan Association 1315 Market Street Pocomoke City, MD 21851 Full Service B&M $58,745
    First Shore Federal Savings and Loan Association 220 Washington St Millsboro, DE 19966 Full Service B&M $4,747
    First Shore Federal Savings and Loan Association 310 Franklin Avenue Berlin, MD 21811 Full Service B&M $15,362
    First Shore Federal Savings and Loan Association Rt 26 Atlantic Avenue Ocean View, DE 19970 Full Service B&M $19,029

    For 2021, First Shore Federal Savings And Loan Association had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,639
    Net interest income $9,342
    Total noninterest income $675
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $84
    Trading account gains and fees $0
    Additional Noninterest Income $591
    Pre-tax net operating income $2,149
    Securities gains (or losses, -) $8
    Income before extraordinary items $1,605
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,605
    Minority interest net income $0
    Net income $1,605
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,598

    First Shore Federal Savings And Loan Association's gross interest income from loans was $11,639,000.
    First Shore Federal Savings And Loan Association's net interest income from loans was $9,342,000.
    First Shore Federal Savings And Loan Association's fee based income from loans was $84,000.
    First Shore Federal Savings And Loan Association's net income from loans was $1,605,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,297
    Provision for credit losses $0
    Total noninterest expense $7,868
    Salaries and employee benefits $5,190
    Premises and equipment expense $1,022
    Additional noninterest expense $1,656
    Applicable income taxes $552
    Net charge-offs $-38
    Cash dividends $0

    First Shore Federal Savings And Loan Association's interest expense for loans was $2,297,000.
    First Shore Federal Savings And Loan Association's payroll and benefits expense were $5,190,000.
    First Shore Federal Savings And Loan Association's property, plant and equipment expenses $1,022,000.

    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 39.0%
    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 $297,060
    Deposits held in domestic offices $297,060
    Deposits by Individuals, partnerships, and corporations $295,910
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $333
    Deposits by Commercial banks and other depository institutions in U.S. $817
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $67,102
    Demand deposits $22,040
    Nontransaction accounts $229,958
    Money market deposit accounts (MMDAs) $46,738
    Other savings deposits (excluding MMDAs) $44,086
    Total time deposits $139,133
    Total time and savings deposits $275,020
    Noninterest-bearing deposits $22,040
    Interest-bearing deposits $275,020
    Retail deposits $281,945
    IRAs and Keogh plan accounts $27,518
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $349,225
    Cash & Balances due from depository institutions $71,729
    Interest-bearing balances $70,151
    Total securities $17,849
    Federal funds sold & reverse repurchase $0
    Net loans and leases $242,248
    Loan and leases loss allowance $2,598
    Trading account assets $0
    Bank premises and fixed assets $5,463
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $11,936

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $349,225
    Total Liabilities $297,455
    Total deposits $297,060
    Interest-bearing deposits $275,020
    Deposits held in domestic offices $297,060
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $395

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $242,248
    Loan and leases loss allowance $2,598
    Total loans and leases (domestic) $244,846
    All real estate loans $200,424
    Real estate loans in domestic offices $200,424
    Construction and development loans $24,550
    Residential 1-4 family construction $5,550
    Other construction, all land development and other land $19,000
    Loans secured by nonfarm nonresidential properties $25,714
    Nonfarm nonresidential secured by owner-occupied properties $8,021
    Commercial real estate & other non-farm, non-residential $17,693
    Multifamily residential real estate $3,367
    1-4 family residential loans $146,088
    Farmland loans $705
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $7,812
    To non-U.S. addressees $0
    Loans to individuals $36,563
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $35
    Other loans to individuals $36,528
    All other loans & leases $46
    Loans to foreign governments and official institutions $0
    Other loans $46
    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

    First Shore Federal Savings and Loan Association had $242,248,000 of loans outstanding in 2021. $200,424,000 of loans were in real estate loans. $24,550,000 of loans were in development loans. $3,367,000 of loans were in multifamily mortgage loans. $146,088,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $35,000 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 35 $10,554 $301,543
    Nonfarm, nonresidential loans - <$100k 4 $166 $41,500
    Nonfarm, nonresidential loans - $100-250k 7 $861 $123,000
    Nonfarm, nonresidential loans - $250k-1MM 24 $9,527 $396,958
    Commercial & Industrial, US addressed loans - <$1MM 46 $3,982 $86,565
    Commercial & Industrial, US addressed loans - <$100k 33 $698 $21,152
    Commercial & Industrial, US addressed loans - $100-250k 8 $693 $86,625
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $2,591 $518,200
    Farmland loans - <$1MM 5 $705 $141,000
    Farmland loans - <$100k 1 $23 $23,000
    Farmland loans - $100-250k 4 $682 $170,500