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
  • 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, Refi, and Cash Out 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, California, and Roanoke 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

    38

    Origination Dollar Volume (All Markets)

    $13,920,000

    Employee count

    144

    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) 33 $12,825,000 $388,636 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $725,000 $241,667 $0 0.00%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    ROANOKE, VA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Industrial Bank's top markets include Washington, Baltimore, California, and Roanoke 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 34 $12,670,000 $372,647 $0 0.00%
    FHA 4 $1,250,000 $312,500 $0 0.00%

    For 2020, Industrial Bank's most frequently originated type of loan was Conventional, with 34 originations. Their 2nd most popular type was FHA, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 13 $4,765,000 $366,538 $0 0.00%
    Refi 12 $5,050,000 $420,833 $0 0.00%
    Cash Out Refi 11 $3,085,000 $280,455 $0 0.00%
    Home Improvement 2 $1,020,000 $510,000 $0 0.00%

    For 2020, Industrial Bank's most frequently cited loan purpose was Home Purchase, with 13 originations. The 2nd most popular reason was Refi, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 38 $13,920,000 $366,316 $0 0.00%

    For 2020, Industrial Bank's most frequently cited loan duration was Other, with 38 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 20 $5,430,000 $271,500 $0 0.00%
    $100k-200k 9 $1,475,000 $163,889 $0 0.00%
    $400k-600k 5 $2,395,000 $479,000 $0 0.00%
    $1MM+ 2 $3,870,000 $1,935,000 $0 0.00%
    $100,000 or less 1 $65,000 $65,000 $0 0.00%
    $600k-1MM 1 $685,000 $685,000 $0 0.00%

    2020 saw Industrial Bank place emphasis on $200k-400k loans with 20 originations, totaling $5,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 7 $2,075,000 $296,429 $0 0.00%
    $75k-100k 6 $1,440,000 $240,000 $0 0.00%
    $150k-250k 5 $1,625,000 $325,000 $0 0.00%
    $50k-75k 4 $990,000 $247,500 $0 0.00%
    $250k+ 3 $925,000 $308,333 $0 0.00%
    $50k or less 3 $865,000 $288,333 $0 0.00%

    Industrial Bank lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $75k-100k, with 6 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 38 $13,920,000 $366,316 $0 0.00%

    Industrial Bank lent most frequently to those with DTI ratios of Exempt%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Black 25 $7,145,000 $285,800 $0 0.00%
    Not applicable 10 $6,000,000 $600,000 $0 0.00%
    White 2 $670,000 $335,000 $0 0.00%
    Not provided 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.10%

    Industrial Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    71.05%

    Industrial Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 38 $13,920,000 $366,316

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $2,745,000 $2,745,000
    Single Family (1-4 Units):Site-Built 37 $11,175,000 $302,027

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Industrial Bank 1080 Bergen Street Newark, NJ 7112 Full Service B&M $15,909
    Industrial Bank 125 45th Street, N.E. Washington, DC 20019 Full Service B&M $44,085
    Industrial Bank 1317 F Street, N.W. Washington, DC 20004 Full Service B&M $65,273
    Industrial Bank 1800 Martin Luther King Jr. Ave, Se Washington, DC 20020 Full Service B&M $14,116
    Industrial Bank 1900 John Hanson Lane Oxon Hill, MD 20745 Full Service B&M $39,413
    Industrial Bank 2000 11th Street, N.W. Washington, DC 20001 Full Service B&M $116,613
    Industrial Bank 382 West 125 Street New York, NY 10027 Full Service B&M $16,543
    Industrial Bank 4812 Georgia Avenue Nw Washington, DC 20011 Full Service B&M $106,183
    Industrial Bank 54 Halsey Street Newark, NJ 7102 Full Service B&M $79,110
    Industrial Bank 7610 Pennsylvania Avenue Forestville, MD 20747 Full Service B&M $43,395

    For 2020, Industrial Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,040
    Net interest income $19,226
    Total noninterest income $16,659
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,529
    Trading account gains and fees $0
    Additional Noninterest Income $15,130
    Pre-tax net operating income $7,748
    Securities gains (or losses, -) $13
    Income before extraordinary items $5,674
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,674
    Minority interest net income $0
    Net income $5,674
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,663

    Industrial Bank's gross interest income from loans was $21,040,000.
    Industrial Bank's net interest income from loans was $19,226,000.
    Industrial Bank's fee based income from loans was $1,529,000.
    Industrial Bank's net income from loans was $5,674,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,814
    Provision for credit losses $1,869
    Total noninterest expense $26,268
    Salaries and employee benefits $13,787
    Premises and equipment expense $3,464
    Additional noninterest expense $9,017
    Applicable income taxes $2,087
    Net charge-offs $485
    Cash dividends $227

    Industrial Bank's interest expense for loans was $1,814,000.
    Industrial Bank's payroll and benefits expense were $13,787,000.
    Industrial Bank's property, plant and equipment expenses $3,464,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 5.0%
    Real Estate loans 5.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 5.0%
    Multifamily residential loans 1.0%
    1-4 family residential loans 6.0%
    HELOC loans 1.0%
    All other family 6.0%
    Commercial & industrial loans 3.0%
    Personal loans 4.0%
    Credit card loans 6.2%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $502,187
    Deposits held in domestic offices $502,187
    Deposits by Individuals, partnerships, and corporations $444,009
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $54,049
    Deposits by Commercial banks and other depository institutions in U.S. $4,129
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $264,694
    Demand deposits $159,839
    Nontransaction accounts $237,493
    Money market deposit accounts (MMDAs) $47,313
    Other savings deposits (excluding MMDAs) $104,843
    Total time deposits $85,337
    Total time and savings deposits $342,348
    Noninterest-bearing deposits $142,143
    Interest-bearing deposits $360,044
    Retail deposits $488,302
    IRAs and Keogh plan accounts $4,796
    Brokered deposits $832
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $559,802
    Cash & Balances due from depository institutions $92,273
    Interest-bearing balances $87,218
    Total securities $89,822
    Federal funds sold & reverse repurchase $0
    Net loans and leases $349,664
    Loan and leases loss allowance $5,179
    Trading account assets $0
    Bank premises and fixed assets $9,166
    Other real estate owned $260
    Goodwill and other intangibles $345
    All other assets $18,272

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $559,802
    Total Liabilities $512,027
    Total deposits $502,187
    Interest-bearing deposits $360,044
    Deposits held in domestic offices $502,187
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $4,626
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $5,214

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $349,664
    Loan and leases loss allowance $5,179
    Total loans and leases (domestic) $354,843
    All real estate loans $301,706
    Real estate loans in domestic offices $301,706
    Construction and development loans $26,522
    Residential 1-4 family construction $10,079
    Other construction, all land development and other land $16,443
    Loans secured by nonfarm nonresidential properties $152,797
    Nonfarm nonresidential secured by owner-occupied properties $111,576
    Commercial real estate & other non-farm, non-residential $41,221
    Multifamily residential real estate $20,800
    1-4 family residential loans $101,587
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $51,703
    To non-U.S. addressees $0
    Loans to individuals $799
    Credit card loans $584
    Related Plans $131
    Consumer Auto Loans $76
    Other loans to individuals $8
    All other loans & leases $2,071
    Loans to foreign governments and official institutions $0
    Other loans $273
    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 $4,180
    Non 1-4 family restructured loans & leases $1,813
    Total loans and leases (foreign) $0

    Industrial Bank had $349,664,000 of loans outstanding in 2020. $301,706,000 of loans were in real estate loans. $26,522,000 of loans were in development loans. $20,800,000 of loans were in multifamily mortgage loans. $101,587,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $584,000 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 125 $21,593 $172,744
    Nonfarm, nonresidential loans - <$100k 12 $883 $73,583
    Nonfarm, nonresidential loans - $100-250k 44 $5,408 $122,909
    Nonfarm, nonresidential loans - $250k-1MM 69 $15,302 $221,768
    Commercial & Industrial, US addressed loans - <$1MM 300 $35,145 $117,150
    Commercial & Industrial, US addressed loans - <$100k 211 $7,648 $36,246
    Commercial & Industrial, US addressed loans - $100-250k 45 $6,225 $138,333
    Commercial & Industrial, US addressed loans - $250k-1MM 44 $21,272 $483,455