Industrial Bank Mortgage Rates, Fees & Info

Washington, DC

LEI: 549300J8HNLGP2HYNE66

Tax ID: 53-0088120

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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

    Industrial Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Industrial Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Washington, Baltimore, and California among others. We have data for 4 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.

    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

    88

    Origination Dollar Volume (All Markets)

    $29,620,000

    Employee count

    146

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 79 $28,045,000 $355,000 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 7 $1,195,000 $170,714 $0 0.00%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    Outside of Metro Areas 1 $145,000 $145,000 $0 0.00%
    Industrial Bank's top markets include Washington, Baltimore, and California among others.

    Their top states include:
  • District of Columbia (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 80 $27,520,000 $344,000 $0 0.00%
    FHA 8 $2,100,000 $262,500 $0 0.00%

    For 2019, Industrial Bank's most frequently originated type of loan was Conventional, with 80 originations. Their 2nd most popular type was FHA, with 8 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 39 $14,235,000 $365,000 $0 0.00%
    Cash Out Refi 29 $6,565,000 $226,379 $0 0.00%
    Refi 15 $7,855,000 $523,667 $0 0.00%
    Home Improvement 4 $950,000 $237,500 $0 0.00%
    Other 1 $15,000 $15,000 $0 0.00%

    For 2019, Industrial Bank's most frequently cited loan purpose was Home Purchase, with 39 originations. The 2nd most popular reason was Cash Out Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 88 $29,620,000 $336,591 $0 0.00%

    For 2019, Industrial Bank's most frequently cited loan duration was Other, with 88 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 34 $9,780,000 $287,647 $0 0.00%
    $100k-200k 20 $3,310,000 $165,500 $0 0.00%
    $400k-600k 15 $7,415,000 $494,333 $0 0.00%
    $100,000 or less 9 $525,000 $58,333 $0 0.00%
    $600k-1MM 7 $5,035,000 $719,286 $0 0.00%
    $1MM+ 3 $3,555,000 $1,185,000 $0 0.00%

    2019 saw Industrial Bank place emphasis on $200k-400k loans with 34 originations, totaling $9,780,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 13 $2,965,000 $228,077 $0 0.00%
    $150k-250k 12 $3,200,000 $266,667 $0 0.00%
    $100k-150k 10 $2,780,000 $278,000 $0 0.00%
    $75k-100k 9 $2,335,000 $259,444 $0 0.00%
    $50k or less 8 $1,260,000 $157,500 $0 0.00%
    $250k+ 1 $55,000 $55,000 $0 0.00%

    Industrial Bank lent most frequently to those with incomes in the $50k-75k range, with 13 originations. The second most popular income band? $150k-250k, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 88 $29,620,000 $336,591 $0 0.00%

    Industrial Bank lent most frequently to those with DTI ratios of Exempt%, with 88 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 35 $17,025,000 $486,429 $0 0.00%
    Black 49 $11,735,000 $239,490 $0 0.00%
    White 2 $470,000 $235,000 $0 0.00%
    Not provided 2 $390,000 $195,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.65%

    Industrial Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.45%

    Industrial Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 88 $29,620,000 $336,591

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $1,345,000 $448,333
    Single Family (1-4 Units):Site-Built 85 $28,275,000 $332,647

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Integrity Financial Corp. DBA US Loan Servicing Other type of 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 $36,809
    Industrial Bank 1317 F Street, N.W. Washington, DC 20004 Full Service B&M $51,409
    Industrial Bank 1800 Martin Luther King Jr. Ave, Se Washington, DC 20020 Full Service B&M $10,840
    Industrial Bank 1900 John Hanson Lane Oxon Hill, MD 20745 Full Service B&M $33,020
    Industrial Bank 2000 11th Street, N.W. Washington, DC 20001 Full Service B&M $100,648
    Industrial Bank 4812 Georgia Avenue Nw Washington, DC 20011 Full Service B&M $89,260
    Industrial Bank 7610 Pennsylvania Avenue Forestville, MD 20747 Full Service B&M $35,056

    For 2019, Industrial Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,497
    Net interest income $18,091
    Total noninterest income $9,056
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,662
    Trading account gains and fees $0
    Additional Noninterest Income $7,394
    Pre-tax net operating income $5,753
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,161
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,161
    Minority interest net income $0
    Net income $4,161
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,161

    Industrial Bank's gross interest income from loans was $20,497,000.
    Industrial Bank's net interest income from loans was $18,091,000.
    Industrial Bank's fee based income from loans was $1,662,000.
    Industrial Bank's net income from loans was $4,161,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,406
    Provision for credit losses $500
    Total noninterest expense $20,894
    Salaries and employee benefits $11,238
    Premises and equipment expense $2,432
    Additional noninterest expense $7,224
    Applicable income taxes $1,592
    Net charge-offs $838
    Cash dividends $97

    Industrial Bank's interest expense for loans was $2,406,000.
    Industrial Bank's payroll and benefits expense were $11,238,000.
    Industrial Bank's property, plant and equipment expenses $2,432,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 10.0%
    Personal loans 2.0%
    Credit card loans 0.9%
    Other individual loans 6.0%
    Auto loans 0.0%
    Other consumer loans 7.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $479,073
    Deposits held in domestic offices $479,073
    Deposits by Individuals, partnerships, and corporations $410,201
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $63,741
    Deposits by Commercial banks and other depository institutions in U.S. $5,131
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $207,759
    Demand deposits $128,763
    Nontransaction accounts $271,314
    Money market deposit accounts (MMDAs) $79,847
    Other savings deposits (excluding MMDAs) $85,340
    Total time deposits $106,127
    Total time and savings deposits $350,310
    Noninterest-bearing deposits $119,448
    Interest-bearing deposits $359,625
    Retail deposits $463,278
    IRAs and Keogh plan accounts $5,413
    Brokered deposits $1,079
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $530,919
    Cash & Balances due from depository institutions $73,872
    Interest-bearing balances $66,939
    Total securities $86,930
    Federal funds sold & reverse repurchase $0
    Net loans and leases $340,785
    Loan and leases loss allowance $3,795
    Trading account assets $0
    Bank premises and fixed assets $8,776
    Other real estate owned $260
    Goodwill and other intangibles $568
    All other assets $19,728

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $530,919
    Total Liabilities $490,555
    Total deposits $479,073
    Interest-bearing deposits $359,625
    Deposits held in domestic offices $479,073
    % insured (estimated) $76
    Federal funds purchased and repurchase agreements $3,335
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $8,147

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $340,785
    Loan and leases loss allowance $3,795
    Total loans and leases (domestic) $344,580
    All real estate loans $310,656
    Real estate loans in domestic offices $310,656
    Construction and development loans $37,022
    Residential 1-4 family construction $12,758
    Other construction, all land development and other land $24,264
    Loans secured by nonfarm nonresidential properties $148,063
    Nonfarm nonresidential secured by owner-occupied properties $113,738
    Commercial real estate & other non-farm, non-residential $34,325
    Multifamily residential real estate $18,642
    1-4 family residential loans $106,929
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $30,699
    To non-U.S. addressees $0
    Loans to individuals $1,199
    Credit card loans $804
    Related Plans $166
    Consumer Auto Loans $76
    Other loans to individuals $153
    All other loans & leases $3,143
    Loans to foreign governments and official institutions $0
    Other loans $282
    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 $2,928
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Industrial Bank had $340,785,000 of loans outstanding in 2019. $310,656,000 of loans were in real estate loans. $37,022,000 of loans were in development loans. $18,642,000 of loans were in multifamily mortgage loans. $106,929,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $804,000 of loans were in credit card loans. $76,000 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 195 $51,983 $266,579
    Nonfarm, nonresidential loans - <$100k 27 $6,382 $236,370
    Nonfarm, nonresidential loans - $100-250k 52 $5,727 $110,135
    Nonfarm, nonresidential loans - $250k-1MM 116 $39,874 $343,741
    Commercial & Industrial, US addressed loans - <$1MM 84 $11,989 $142,726
    Commercial & Industrial, US addressed loans - <$100k 49 $3,179 $64,878
    Commercial & Industrial, US addressed loans - $100-250k 13 $1,331 $102,385
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $7,479 $339,955