Marine Bank & Trust Company Mortgage Rates, Fees & Info

Vero Beach, FL

LEI: 549300HJSQXR32ZGFP55

Tax ID: 65-0644585

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Mortgage Data

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

    Marine Bank & Trust Company is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Marine Bank & Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Sebastian, Port St. Lucie, Palm Bay, and Miami among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Marine Bank & Trust Company 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. 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

    91

    Origination Dollar Volume (All Markets)

    $43,255,000

    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
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 59 $30,815,000 $522,288 $0 4.31%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 17 $7,805,000 $459,118 $0 4.32%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 14 $3,530,000 $252,143 $0 4.43%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,105,000 $1,105,000 $0 4.25%
    Marine Bank & Trust Company's top markets include Sebastian, Port St. Lucie, Palm Bay, and Miami among others.

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

    • Similar Lenders

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

    SHELTER MORTGAGE COMPANY, L.L.C.
    Similarity Rank: 529
    Seacoast National Bank
    Similarity Rank: 638
    GROUP ONE MORTGAGE, INC.
    Similarity Rank: 748
    HARBORONE MORTGAGE, LLC
    Similarity Rank: 935
    TrustCo Bank
    Similarity Rank: 950
    MIDFLORIDA
    Similarity Rank: 1200
    SPACE COAST Credit Union
    Similarity Rank: 1320
    City National Bank of Florida
    Similarity Rank: 1403
    PULTE MORTGAGE LLC
    Similarity Rank: 2400
    Mortgage Lenders Investment Trading Corporation
    Similarity Rank: 3150

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 91 $43,255,000 $475,330 $0 4.33%

    For 2020, Marine Bank & Trust Company's most frequently originated type of loan was Conventional, with 91 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 61 $28,615,000 $469,098 $0 4.26%
    Cash Out Refi 15 $9,915,000 $661,000 $0 4.21%
    Other 7 $3,175,000 $453,571 $0 4.28%
    Home Improvement 5 $365,000 $73,000 $0 5.20%
    Refi 3 $1,185,000 $395,000 $0 4.88%

    For 2020, Marine Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 61 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 64 $32,320,000 $505,000 $0 4.15%
    20 Year 12 $3,800,000 $316,667 $0 4.77%
    15 Year 7 $3,205,000 $457,857 $0 4.46%
    Other 5 $3,735,000 $747,000 $0 4.76%
    10 Year 2 $80,000 $40,000 $0 4.87%
    3 Year 1 $115,000 $115,000 $0 5.99%

    For 2020, Marine Bank & Trust Company's most frequently cited loan duration was 30 Year, with 64 originations. The 2nd most popular length was 20 Year, with 12 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 55 $21,475,000 $390,455
    3-4% 29 $20,145,000 $694,655
    5-6% 5 $565,000 $113,000
    2.5-3% 1 $1,005,000 $1,005,000
    7-8% 1 $65,000 $65,000

    During 2020, Marine Bank & Trust Company's average interest rate for loans was 4.15%, while their most frequently originated rate bucket for loans was 4-5%, with 55 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 25 $3,465,000 $138,600 $0 4.55%
    $200k-400k 21 $5,985,000 $285,000 $0 4.15%
    $600k-1MM 15 $12,145,000 $809,667 $0 4.30%
    $1MM+ 12 $17,080,000 $1,423,333 $0 3.84%
    $100,000 or less 10 $680,000 $68,000 $0 4.92%
    $400k-600k 8 $3,900,000 $487,500 $0 4.16%

    2020 saw Marine Bank & Trust Company place emphasis on $100k-200k loans with 25 originations, totaling $3,465,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 34 $28,620,000 $841,765 $0 4.09%
    $150k-250k 15 $4,215,000 $281,000 $0 4.33%
    $100k-150k 11 $3,105,000 $282,273 $0 4.66%
    $75k-100k 8 $1,640,000 $205,000 $0 4.27%
    $50k-75k 5 $845,000 $169,000 $0 4.40%
    $50k or less 2 $190,000 $95,000 $0 4.38%

    Marine Bank & Trust Company lent most frequently to those with incomes in the $250k+ range, with 34 originations. The second most popular income band? $150k-250k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 17 $11,835,000 $696,176 $0 4.21%
    20-30% 17 $3,995,000 $235,000 $0 4.04%
    <20% 12 $4,420,000 $368,333 $0 4.00%
    43% 4 $2,580,000 $645,000 $0 4.31%
    41% 3 $1,315,000 $438,333 $0 5.08%
    36% 3 $1,845,000 $615,000 $0 4.13%
    37% 3 $1,575,000 $525,000 $0 4.17%
    42% 3 $1,345,000 $448,333 $0 4.25%
    >60% 2 $520,000 $260,000 $0 5.31%
    38% 2 $1,370,000 $685,000 $0 5.94%
    50-60% 2 $2,010,000 $1,005,000 $0 4.38%
    44% 2 $1,330,000 $665,000 $0 4.25%
    46% 2 $2,300,000 $1,150,000 $0 4.13%
    40% 1 $685,000 $685,000 $0 4.63%
    47% 1 $105,000 $105,000 $0 5.25%
    48% 1 $1,525,000 $1,525,000 $0 4.00%
    39% 1 $135,000 $135,000 $0 4.50%

    Marine Bank & Trust Company lent most frequently to those with DTI ratios of 30-36%, with 17 originations. The next most common DTI ratio? 20-30%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 73 $38,155,000 $522,671 $0 4.28%
    Not applicable 15 $4,365,000 $291,000 $0 4.61%
    Black 2 $530,000 $265,000 $0 4.38%
    Asian 1 $205,000 $205,000 $0 3.50%

    Approval Rates

    Total approvals of all applications
    95.80%

    Marine Bank & Trust Company 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
    74.73%

    Marine Bank & Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 91 $43,255,000 $475,330

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $850,000 $425,000
    Single Family (1-4 Units):Site-Built 89 $42,405,000 $476,461

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Moran Financial Group LLC Conventional home mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Marine Bank & Trust Company 1020 U.S. Highway 1 Sebastian, FL 32958 Full Service B&M $36,738
    Marine Bank & Trust Company 1450 Us Highway #1 Vero Beach, FL 32960 Full Service B&M $82,894
    Marine Bank & Trust Company 3303 Suntree Boulevard Melbourne, FL 32940 Full Service B&M $18,436
    Marine Bank & Trust Company 571 Beachland Boulevard Vero Beach, FL 32963 Full Service B&M $208,783

    For 2020, Marine Bank & Trust Company had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,840
    Net interest income $12,516
    Total noninterest income $1,958
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $237
    Trading account gains and fees $0
    Additional Noninterest Income $1,721
    Pre-tax net operating income $4,182
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,170
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,170
    Minority interest net income $0
    Net income $3,170
    Sale, conversion, retirement of capital stock, net $100
    Net operating income $3,170

    Marine Bank & Trust Company's gross interest income from loans was $13,840,000.
    Marine Bank & Trust Company's net interest income from loans was $12,516,000.
    Marine Bank & Trust Company's fee based income from loans was $237,000.
    Marine Bank & Trust Company's net income from loans was $3,170,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,324
    Provision for credit losses $980
    Total noninterest expense $9,312
    Salaries and employee benefits $5,422
    Premises and equipment expense $999
    Additional noninterest expense $2,891
    Applicable income taxes $1,012
    Net charge-offs $-6
    Cash dividends $0

    Marine Bank & Trust Company's interest expense for loans was $1,324,000.
    Marine Bank & Trust Company's payroll and benefits expense were $5,422,000.
    Marine Bank & Trust Company's property, plant and equipment expenses $999,000.

    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 $392,715
    Deposits held in domestic offices $392,715
    Deposits by Individuals, partnerships, and corporations $377,950
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $14,765
    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 $169,877
    Demand deposits $133,199
    Nontransaction accounts $222,838
    Money market deposit accounts (MMDAs) $171,651
    Other savings deposits (excluding MMDAs) $10,072
    Total time deposits $41,115
    Total time and savings deposits $259,516
    Noninterest-bearing deposits $122,026
    Interest-bearing deposits $270,689
    Retail deposits $379,652
    IRAs and Keogh plan accounts $3,783
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $425,250
    Cash & Balances due from depository institutions $67,913
    Interest-bearing balances $64,231
    Total securities $13,941
    Federal funds sold & reverse repurchase $0
    Net loans and leases $326,382
    Loan and leases loss allowance $3,636
    Trading account assets $0
    Bank premises and fixed assets $6,638
    Other real estate owned $0
    Goodwill and other intangibles $46
    All other assets $10,330

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $425,249
    Total Liabilities $394,420
    Total deposits $392,715
    Interest-bearing deposits $270,689
    Deposits held in domestic offices $392,715
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $975
    Subordinated debt $0
    All other liabilities $730

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $326,382
    Loan and leases loss allowance $3,636
    Total loans and leases (domestic) $330,018
    All real estate loans $263,247
    Real estate loans in domestic offices $263,247
    Construction and development loans $13,999
    Residential 1-4 family construction $6,554
    Other construction, all land development and other land $7,445
    Loans secured by nonfarm nonresidential properties $111,039
    Nonfarm nonresidential secured by owner-occupied properties $48,788
    Commercial real estate & other non-farm, non-residential $62,251
    Multifamily residential real estate $2,409
    1-4 family residential loans $135,541
    Farmland loans $259
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $64,712
    To non-U.S. addressees $0
    Loans to individuals $1,079
    Credit card loans $0
    Related Plans $62
    Consumer Auto Loans $637
    Other loans to individuals $380
    All other loans & leases $980
    Loans to foreign governments and official institutions $0
    Other loans $980
    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

    Marine Bank & Trust Company had $326,382,000 of loans outstanding in 2020. $263,247,000 of loans were in real estate loans. $13,999,000 of loans were in development loans. $2,409,000 of loans were in multifamily mortgage loans. $135,541,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $637,000 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 155 $44,205 $285,194
    Nonfarm, nonresidential loans - <$100k 16 $630 $39,375
    Nonfarm, nonresidential loans - $100-250k 49 $6,482 $132,286
    Nonfarm, nonresidential loans - $250k-1MM 90 $37,093 $412,144
    Commercial & Industrial, US addressed loans - <$1MM 782 $50,312 $64,338
    Commercial & Industrial, US addressed loans - <$100k 610 $16,478 $27,013
    Commercial & Industrial, US addressed loans - $100-250k 121 $17,192 $142,083
    Commercial & Industrial, US addressed loans - $250k-1MM 51 $16,642 $326,314
    Farmland loans - <$1MM 3 $259 $86,333
    Farmland loans - <$100k 1 $11 $11,000
    Farmland loans - $100-250k 2 $248 $124,000