Marquette Savings Bank Mortgage Rates, Fees & Info

Erie, PA

LEI: 549300IL0IHBRVBZKO13

Tax ID: 25-0640196

5 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Marquette Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Marquette Savings Bank has a high proportion of conventional loans. Their top markets include Erie, Meadville, Youngstown, Warren, and Oil City among others. Marquette Savings Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Marquette Savings Bank is typically a low fee lendor.


Originations

860

Origination Dollar Volume (All Markets)

$131,890,000

Employee count

140

Awards

Marquette Savings Bank 30 Year Conventional Loans gold Marquette Savings Bank 30 Year Conventional Loans gold Marquette Savings Bank 30 Year Conventional Loans bronze
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Relative Rate

Marquette Savings Bank's average 30 year fixed rate mortgage of loans were 3.4%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.25%.

Relative Fees

Marquette Savings Bank's average total fees for a 30 year fixed rate mortgage are $2,806.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
ERIE, PA (FHA|USDA|VA) 616 $99,110,000 $160,893 $2,269 3.30%
Meadville, PA (FHA|USDA|VA) 224 $29,050,000 $129,688 $2,204 3.33%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 10 $2,040,000 $204,000 $3,112 3.18%
Warren, PA (FHA|USDA|VA) 5 $755,000 $151,000 $2,665 3.38%
Oil City, PA (FHA|USDA|VA) 4 $480,000 $120,000 $2,355 3.22%
PITTSBURGH, PA (FHA|USDA|VA) 1 $455,000 $455,000 $4,351 2.88%

Marquette Savings Bank's top markets include Erie, Meadville, Youngstown, Warren, and Oil City among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 860 $131,890,000 $153,360 $2,268 3.30%

For the 2021 period, Marquette Savings Bank's most frequently originated loan type of loans were Conventional, with 860 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 375 $57,255,000 $152,680 $1,877 3.15%
Home Purchase 359 $61,555,000 $171,462 $3,152 3.46%
Other 45 $3,565,000 $79,222 $389 3.45%
Home Improvement 44 $2,750,000 $62,500 $241 3.59%
Cash Out Refi 37 $6,765,000 $182,838 $2,871 2.81%

For the 2021, Marquette Savings Bank's most frequently cited loan purpose of loans were Refi, with 375 originations. The 2nd most popular reason of loans were Home Purchase, with 359 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 290 $48,790,000 $168,241 $2,806 3.40%
15 Year 238 $31,010,000 $130,294 $2,024 3.17%
20 Year 140 $18,980,000 $135,571 $1,478 3.54%
10 Year 79 $9,755,000 $123,481 $693 3.28%
30+ year 44 $14,070,000 $319,773 $5,804 3.12%
Other 37 $8,045,000 $217,432 $3,230 3.02%
5 Year 31 $1,235,000 $39,839 $212 2.97%
3 Year 1 $5,000 $5,000 $80 4.25%

For the 2021, Marquette Savings Bank's most frequently cited loan length of loans were 30 Year, with 290 originations. The 2nd most popular length of loans were 15 Year, with 238 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 764 $109,150,000 $142,866
$1k-2k 31 $5,195,000 $167,581
$2k-3k 28 $9,240,000 $330,000
$3k-4k 10 $4,660,000 $466,000
$5k+ 2 $810,000 $405,000

$2,806 of loans were Marquette Savings Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 764 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 398 $57,940,000 $145,578
2.5-3% 292 $54,250,000 $185,788
4-5% 92 $8,720,000 $94,783
<2.5% 57 $9,455,000 $165,877
5-6% 21 $1,525,000 $72,619

During 2021, Marquette Savings Bank's average interest rate of loans were 3.40%, while their most frequently originated rate bucket of loans were 3-4%, with 398 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 335 $20,475,000 $61,119 $1,177 3.59%
$100k-200k 332 $48,260,000 $145,361 $2,414 3.17%
$200k-400k 154 $41,770,000 $271,234 $3,597 3.07%
$400k-600k 28 $13,160,000 $470,000 $5,634 2.91%
$600k-1MM 10 $7,140,000 $714,000 $2,375 3.01%
$1MM+ 1 $1,085,000 $1,085,000 $8,658 3.13%

2021 saw Marquette Savings Bank place emphasis on $100,000 or less loans with 335 originations, totaling $20,475,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 181 $14,795,000 $81,740 $1,629 3.58%
$100k-150k 177 $33,375,000 $188,559 $2,816 3.13%
$50k-75k 177 $20,125,000 $113,701 $2,101 3.28%
$75k-100k 156 $20,330,000 $130,321 $2,128 3.28%
$150k-250k 93 $22,535,000 $242,312 $3,020 3.03%
$250k+ 44 $17,010,000 $386,591 $2,860 3.22%

Marquette Savings Bank lent most frequently to those with incomes in the $50k or less range, with 181 originations. The second most popular income band? $100k-150k, with 177 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 258 $38,030,000 $147,403 $2,267 3.21%
30-36% 213 $35,075,000 $164,671 $2,401 3.28%
<20% 143 $19,835,000 $138,706 $1,987 3.17%
36% 36 $4,670,000 $129,722 $2,083 3.39%
39% 34 $6,130,000 $180,294 $2,311 3.45%
37% 32 $3,670,000 $114,688 $1,899 3.51%
38% 27 $5,815,000 $215,370 $2,936 3.25%
42% 21 $2,575,000 $122,619 $1,676 3.41%
40% 20 $3,090,000 $154,500 $1,930 3.49%
41% 18 $3,290,000 $182,778 $2,279 3.44%
43% 12 $1,710,000 $142,500 $2,730 3.72%
44% 6 $1,150,000 $191,667 $3,102 3.04%
50-60% 6 $1,090,000 $181,667 $3,294 4.10%
47% 5 $1,195,000 $239,000 $4,058 2.85%
46% 3 $755,000 $251,667 $2,144 3.58%
45% 3 $445,000 $148,333 $2,816 3.33%
48% 3 $1,225,000 $408,333 $4,102 2.79%

Marquette Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 258 originations. The next most common DTI ratio? 30-36%, with 213 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 795 $123,025,000 $154,748 $2,279 3.28%
Not provided 24 $2,850,000 $118,750 $1,901 3.17%
Asian 12 $2,650,000 $220,833 $2,578 3.00%
Not applicable 20 $2,140,000 $107,000 $0 4.40%
Black 7 $1,085,000 $155,000 $2,235 3.75%
American Indian 2 $140,000 $70,000 $378 4.00%

Approval Rates

Total approvals of all applications
91.20%

Marquette Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
89.17%

Marquette Savings Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 860 $131,890,000 $153,360

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
860 $131,890,000 $153,360

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 75 $6,115,000 $81,533 $1,036 3.35%
40-60% 124 $15,970,000 $128,790 $1,689 3.12%
60-80% 372 $62,970,000 $169,274 $2,520 3.32%
80-100% 247 $45,005,000 $182,206 $2,950 3.33%
Under 20% 42 $1,830,000 $43,571 $128 3.43%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Marquette Savings Bank 920 Peach Street Erie, PA 16501 Full Service B&M $266,121
Marquette Savings Bank 1075 Park Avenue Meadville, PA 16335 Full Service B&M $107,091
Marquette Savings Bank 14 North Main St Albion, PA 16401 Full Service B&M $47,683
Marquette Savings Bank 16272 Conneaut Lake Road Meadville, PA 16335 Full Service Retail $28,223
Marquette Savings Bank 1775 East 38th Street Erie, PA 16510 Full Service B&M $63,965
Marquette Savings Bank 209 Plum Street Edinboro, PA 16412 Full Service B&M $46,964
Marquette Savings Bank 210 Water St. Conneaut Lake, PA 16316 Full Service B&M $73,174
Marquette Savings Bank 2320 West 12th St Erie, PA 16505 Full Service B&M $79,182
Marquette Savings Bank 3404 Liberty Street Erie, PA 16509 Full Service B&M $107,452
Marquette Savings Bank 349 North Street Meadville, PA 16335 Limited, Drive-thru $0
Marquette Savings Bank 3801 Sterrettania Road Erie, PA 16506 Full Service B&M $78,557
Marquette Savings Bank 953 South Main Street Meadville, PA 16335 Limited, Administrative $0

For 2021, Marquette Savings Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $33,955
Net interest income $29,146
Total noninterest income $3,879
Gross Fiduciary activities income $0
Service charges on deposit accounts $831
Trading account gains and fees $0
Additional Noninterest Income $3,048
Pre-tax net operating income $10,108
Securities gains (or losses, -) $39
Income before extraordinary items $8,612
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $8,612
Minority interest net income $0
Net income $8,612
Sale, conversion, retirement of capital stock, net $0
Net operating income $8,578

Marquette Savings Bank's gross interest income from loans was $33,955,000.
Marquette Savings Bank's net interest income from loans was $29,146,000.
Marquette Savings Bank's fee based income from loans was $831,000.
Marquette Savings Bank's net income from loans was $8,612,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $4,809
Provision for credit losses $461
Total noninterest expense $22,456
Salaries and employee benefits $11,174
Premises and equipment expense $3,789
Additional noninterest expense $7,493
Applicable income taxes $1,535
Net charge-offs $13
Cash dividends $0

Marquette Savings Bank's interest expense for loans was $4,809,000.
Marquette Savings Bank's payroll and benefits expense were $11,174,000.
Marquette Savings Bank's property, plant and equipment expenses $3,789,000.

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 $983,919
Deposits held in domestic offices $983,919
Deposits by Individuals, partnerships, and corporations $945,527
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $37,782
Deposits by Commercial banks and other depository institutions in U.S. $610
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $363,447
Demand deposits $363,447
Nontransaction accounts $620,472
Money market deposit accounts (MMDAs) $230,642
Other savings deposits (excluding MMDAs) $125,554
Total time deposits $264,276
Total time and savings deposits $620,472
Noninterest-bearing deposits $160,092
Interest-bearing deposits $823,827
Retail deposits $948,880
IRAs and Keogh plan accounts $91,053
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,172,608
Cash & Balances due from depository institutions $74,851
Interest-bearing balances $73,054
Total securities $388,907
Federal funds sold & reverse repurchase $0
Net loans and leases $629,717
Loan and leases loss allowance $3,288
Trading account assets $0
Bank premises and fixed assets $26,845
Other real estate owned $66
Goodwill and other intangibles $3,166
All other assets $49,056

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,172,608
Total Liabilities $990,638
Total deposits $983,919
Interest-bearing deposits $823,827
Deposits held in domestic offices $983,919
% insured (estimated) $73
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $6,719

Issued Loan Types

Type Value (in 000's)
Net loans and leases $629,717
Loan and leases loss allowance $3,288
Total loans and leases (domestic) $633,005
All real estate loans $563,541
Real estate loans in domestic offices $563,541
Construction and development loans $13,606
Residential 1-4 family construction $12,521
Other construction, all land development and other land $1,085
Loans secured by nonfarm nonresidential properties $74,288
Nonfarm nonresidential secured by owner-occupied properties $61,017
Commercial real estate & other non-farm, non-residential $13,271
Multifamily residential real estate $6,516
1-4 family residential loans $469,016
Farmland loans $115
Loans held in foreign offices $0
Farm loans $370
Commercial and industrial loans $67,201
To non-U.S. addressees $0
Loans to individuals $1,274
Credit card loans $0
Related Plans $591
Consumer Auto Loans $0
Other loans to individuals $683
All other loans & leases $619
Loans to foreign governments and official institutions $0
Other loans $478
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $6,714
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $295
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Marquette Savings Bank had $629,717,000 of loans outstanding in 2021. $563,541,000 of loans were in real estate loans. $13,606,000 of loans were in development loans. $6,516,000 of loans were in multifamily mortgage loans. $469,016,000 of loans were in 1-4 family mortgage loans. $370,000 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 156 $31,430 $201,474
Nonfarm, nonresidential loans - <$100k 44 $1,741 $39,568
Nonfarm, nonresidential loans - $100-250k 56 $7,285 $130,089
Nonfarm, nonresidential loans - $250k-1MM 56 $22,404 $400,071
Commercial & Industrial, US addressed loans - <$1MM 322 $35,992 $111,776
Commercial & Industrial, US addressed loans - <$100k 195 $5,624 $28,841
Commercial & Industrial, US addressed loans - $100-250k 70 $8,243 $117,757
Commercial & Industrial, US addressed loans - $250k-1MM 57 $22,125 $388,158
Farmland loans - <$1MM 3 $115 $38,333
Farmland loans - <$100k 3 $115 $38,333
Agriculture operations loans - <$1MM 6 $370 $61,667
Agriculture operations loans - <$100k 4 $109 $27,250
Agriculture operations loans - $100-250k 1 $126 $126,000
Agriculture operations loans - $250k-1MM 1 $135 $135,000