Marquette Savings Bank Mortgage Rates, Fees & Info

Erie, PA

LEI: 549300IL0IHBRVBZKO13

Tax ID: 25-0640196

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & 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 by origination volume include: Erie, Meadville, Youngstown, Warren, and Oil City among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Marquette Savings Bank 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. Marquette Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) 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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.57%	12/4/24
30 Year Conventional Refi	6.58%	12/4/24
30 Year Cash-out Refi	6.27%	12/4/24
15 Year Conventional Purchase	6.03%	12/4/24
15 Year Conventional Refi	5.78%	12/4/24
15 Year Cash-out Refi	5.78%	12/4/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Marquette Savings Bank Mortgage Calculator

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This is not an official calculator from Marquette Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

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 bronze

Show all (3) awards

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
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.

Their top states include:

Pennsylvania (FHA|USDA|VA)

Similar Lenders

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

Widget Federal Credit Union
Similarity Rank: 36

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ERIE FEDERAL CREDIT UNION
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PENNSYLVANIA STATE EMPLOYEES Credit Union
Similarity Rank: 684

HOWARD HANNA FINANCIAL SERVICES, INC.
Similarity Rank: 1173

AFFORDABLE MORTGAGE ADVISORS, LLC.
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VILLAGE CAPITAL MORTGAGE
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CNB Bank
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FIRST HERITAGE FINANCIAL, LLC
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First National Bank of Pennsylvania
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Product Mix

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

For 2021, Marquette Savings Bank's most frequently originated type of loan was Conventional, with 860 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. 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 2021, Marquette Savings Bank's most frequently cited loan purpose was Refi, with 375 originations. The 2nd most popular reason was 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 2021, Marquette Savings Bank's most frequently cited loan duration was 30 Year, with 290 originations. The 2nd most popular length was 15 Year, with 238 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	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

Marquette Savings Bank's average total fees were $2,806, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.40%, while their most frequently originated rate bucket for loans was 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
93.43%

Marquette Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
88.95%

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	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	920 Peach Street Erie, PA 16501	Full Service B&M	$266,121
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