Industrial Bank Mortgage Rates, Fees & Info
Washington, DCLEI: 549300J8HNLGP2HYNE66
Tax ID: 53-0088120
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Mortgage Data
Bank Data
Review & Overview
Industrial Bank is a smaller bank specializing in Home Purchase and Refi loans. Industrial Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Washington, Baltimore, New Orleans, Chicago, and Virginia Beach among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Industrial Bank 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.
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Originations
77Origination Dollar Volume (All Markets)
$27,385,000Employee count
111Top 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 |
|---|---|---|---|---|---|
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 67 | $24,885,000 | $371,418 | $0 | 0.00% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 6 | $1,480,000 | $246,667 | $0 | 0.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 1 | $65,000 | $65,000 | $0 | 0.00% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 69 | $25,355,000 | $367,464 | $0 | 0.00% |
| FHA | 5 | $1,175,000 | $235,000 | $0 | 0.00% |
| VA | 3 | $855,000 | $285,000 | $0 | 0.00% |
For 2018, Industrial Bank's most frequently originated type of loan was Conventional, with 69 originations. Their 2nd most popular type was FHA, with 5 originations.
Loan Reason
For 2018, Industrial Bank's most frequently cited loan purpose was Home Purchase, with 37 originations. The 2nd most popular reason was Refi, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 77 | $27,385,000 | $355,649 | $0 | 0.00% |
For 2018, Industrial Bank's most frequently cited loan duration was Other, with 77 originations.
Loan Sizing
2018 saw Industrial Bank place emphasis on $200k-400k loans with 33 originations, totaling $8,955,000 in origination value.
Applicant Income
Industrial Bank lent most frequently to those with incomes in the $50k-75k range, with 14 originations. The second most popular income band? $100k-150k, with 10 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 77 | $27,385,000 | $355,649 | $0 | 0.00% |
Industrial Bank lent most frequently to those with DTI ratios of Exempt%, with 77 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.35%
Industrial Bank has an average approval rate.
Pick Rate
Approvals leading to origination54.55%
Industrial Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 77 | $27,385,000 | $355,649 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 2 | $1,020,000 | $510,000 |
| Single Family (1-4 Units):Site-Built | 75 | $26,365,000 | $351,533 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Integrity First Financial Group | VA mortgage | Closing on a mortgage | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Industrial Bank | 125 45th Street, N.E. Washington, DC 20019 | Full Service B&M | $37,981 |
| Industrial Bank | 1317 F Street, N.W. Washington, DC 20004 | Full Service B&M | $26,572 |
| Industrial Bank | 1800 Martin Luther King Jr. Ave, Se Washington, DC 20020 | Full Service B&M | $6,774 |
| Industrial Bank | 1900 John Hanson Lane Oxon Hill, MD 20745 | Full Service B&M | $29,694 |
| Industrial Bank | 2000 11th Street, N.W. Washington, DC 20001 | Full Service B&M | $115,755 |
| Industrial Bank | 4812 Georgia Avenue Nw Washington, DC 20011 | Full Service B&M | $88,681 |
| Industrial Bank | 7610 Pennsylvania Avenue Forestville, MD 20747 | Full Service B&M | $36,355 |
For 2018, Industrial Bank had 7 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $18,687 |
| Net interest income | $17,231 |
| Total noninterest income | $4,450 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,615 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,835 |
| Pre-tax net operating income | $2,082 |
| Securities gains (or losses, -) | $-800 |
| Income before extraordinary items | $1,002 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,002 |
| Minority interest net income | $0 |
| Net income | $1,002 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,634 |
Industrial Bank's gross interest income from loans was $18,687,000.
Industrial Bank's net interest income from loans was $17,231,000.
Industrial Bank's fee based income from loans was $1,615,000.
Industrial Bank's net income from loans was $1,002,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,456 |
| Provision for credit losses | $10 |
| Total noninterest expense | $19,589 |
| Salaries and employee benefits | $9,923 |
| Premises and equipment expense | $2,109 |
| Additional noninterest expense | $7,557 |
| Applicable income taxes | $280 |
| Net charge-offs | $-1,085 |
| Cash dividends | $113 |
Industrial Bank's interest expense for loans was $1,456,000.
Industrial Bank's payroll and benefits expense were $9,923,000.
Industrial Bank's property, plant and equipment expenses $2,109,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 5.0% |
| Real Estate loans | 4.0% |
| Construction & Land Development loans | 11.0% |
| Nonfarm, nonresidential loans | 3.0% |
| Multifamily residential loans | 3.0% |
| 1-4 family residential loans | 4.0% |
| HELOC loans | 3.0% |
| All other family | 4.0% |
| Commercial & industrial loans | 6.0% |
| Personal loans | 1.0% |
| Credit card loans | 0.6% |
| Other individual loans | 2.0% |
| Auto loans | 0.0% |
| Other consumer loans | 4.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $351,001 |
| Deposits held in domestic offices | $351,001 |
| Deposits by Individuals, partnerships, and corporations | $316,114 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $31,424 |
| Deposits by Commercial banks and other depository institutions in U.S. | $3,463 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $156,732 |
| Demand deposits | $104,861 |
| Nontransaction accounts | $194,269 |
| Money market deposit accounts (MMDAs) | $41,077 |
| Other savings deposits (excluding MMDAs) | $68,104 |
| Total time deposits | $85,088 |
| Total time and savings deposits | $246,140 |
| Noninterest-bearing deposits | $96,879 |
| Interest-bearing deposits | $254,122 |
| Retail deposits | $336,109 |
| IRAs and Keogh plan accounts | $3,093 |
| Brokered deposits | $1,426 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $432,771 |
| Cash & Balances due from depository institutions | $26,731 |
| Interest-bearing balances | $23,577 |
| Total securities | $68,308 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $307,613 |
| Loan and leases loss allowance | $4,133 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $9,342 |
| Other real estate owned | $2,407 |
| Goodwill and other intangibles | $0 |
| All other assets | $18,370 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $432,772 |
| Total Liabilities | $397,468 |
| Total deposits | $351,001 |
| Interest-bearing deposits | $254,122 |
| Deposits held in domestic offices | $351,001 |
| % insured (estimated) | $76 |
| Federal funds purchased and repurchase agreements | $3,344 |
| Trading liabilities | $0 |
| Other borrowed funds | $39,000 |
| Subordinated debt | $0 |
| All other liabilities | $4,123 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $307,613 |
| Loan and leases loss allowance | $4,133 |
| Total loans and leases (domestic) | $311,746 |
| All real estate loans | $276,354 |
| Real estate loans in domestic offices | $276,354 |
| Construction and development loans | $30,034 |
| Residential 1-4 family construction | $12,510 |
| Other construction, all land development and other land | $17,524 |
| Loans secured by nonfarm nonresidential properties | $121,569 |
| Nonfarm nonresidential secured by owner-occupied properties | $81,288 |
| Commercial real estate & other non-farm, non-residential | $40,281 |
| Multifamily residential real estate | $18,742 |
| 1-4 family residential loans | $106,009 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $35,615 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $862 |
| Credit card loans | $539 |
| Related Plans | $155 |
| Consumer Auto Loans | $149 |
| Other loans to individuals | $19 |
| All other loans & leases | $289 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $289 |
| 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 | $2,317 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Industrial Bank had $307,613,000 of loans outstanding in 2018. $276,354,000 of loans were in real estate loans. $30,034,000 of loans were in development loans. $18,742,000 of loans were in multifamily mortgage loans. $106,009,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $539,000 of loans were in credit card loans. $149,000 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 | 116 | $35,026 | $301,948 |
| Nonfarm, nonresidential loans - <$100k | 12 | $825 | $68,750 |
| Nonfarm, nonresidential loans - $100-250k | 25 | $3,581 | $143,240 |
| Nonfarm, nonresidential loans - $250k-1MM | 79 | $30,620 | $387,595 |
| Commercial & Industrial, US addressed loans - <$1MM | 65 | $12,806 | $197,015 |
| Commercial & Industrial, US addressed loans - <$100k | 30 | $2,293 | $76,433 |
| Commercial & Industrial, US addressed loans - $100-250k | 14 | $1,795 | $128,214 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 21 | $8,718 | $415,143 |