Republic Bank Mortgage Rates, Fees & Info

Philadelphia, PA

LEI: 549300JNTZTF40KCOF79

Tax ID: 23-2479933

5 stars - out of 5 stars, based on 45 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Republic Bank is a smaller bank specializing in Home Purchase and Refi loans. Republic 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.) They have a low ratio of USDA loans. Their top markets include Philadelphia, Ocean City, New York, Atlantic City, and Miami among others. Republic Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Republic Bank is typically an average fee lendor.


Originations

1,985

Origination Dollar Volume (All Markets)

$730,975,000

Employee count

538 Show all (7) awards

Relative Rate

Republic Bank's average 30 year fixed rate mortgage of loans were 3.11%.

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

This yields a difference of -0.04%.

Relative Fees

Republic Bank's average total fees for a 30 year fixed rate mortgage are $4,583.

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1,282 $398,490,000 $310,835 $4,048 3.16%
OCEAN CITY, NJ (FHA|USDA|VA) 336 $183,320,000 $545,595 $4,701 3.01%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 161 $81,495,000 $506,180 $4,282 3.07%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 135 $38,745,000 $287,000 $4,011 3.09%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 13 $6,375,000 $490,385 $4,707 2.78%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 14 $2,970,000 $212,143 $4,318 2.91%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $2,805,000 $2,805,000 $6,257 2.88%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 9 $2,675,000 $297,222 $3,853 2.96%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $2,345,000 $2,345,000 $0 3.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $1,885,000 $1,885,000 $0 3.38%
Key West, FL (FHA|USDA|VA) 3 $1,635,000 $545,000 $5,404 3.25%
EAST STROUDSBURG, PA (FHA|USDA|VA) 3 $1,275,000 $425,000 $4,040 3.42%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 2 $1,040,000 $520,000 $4,535 3.06%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 3 $965,000 $321,667 $5,852 2.88%
SALISBURY, MD-DE (FHA|USDA|VA) 3 $915,000 $305,000 $3,544 3.13%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 5 $905,000 $181,000 $2,270 3.08%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $685,000 $685,000 $7,637 2.88%
Easton, MD (FHA|USDA|VA) 1 $545,000 $545,000 $2,863 2.38%
Outside of Metro Areas 3 $455,000 $151,667 $4,029 2.71%
LANCASTER, PA (FHA|USDA|VA) 1 $265,000 $265,000 $4,025 3.25%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $265,000 $265,000 $7,101 3.50%
READING, PA (FHA|USDA|VA) 2 $250,000 $125,000 $3,576 2.94%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $215,000 $215,000 $4,139 3.13%
PITTSBURGH, PA (FHA|USDA|VA) 1 $165,000 $165,000 $3,672 2.75%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 1 $145,000 $145,000 $3,691 3.25%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $145,000 $145,000 $2,609 3.00%

Republic Bank's top markets include Philadelphia, Ocean City, New York, Atlantic City, and Miami among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,832 $693,100,000 $378,330 $3,854 3.14%
FHA 126 $28,480,000 $226,032 $6,907 2.88%
VA 22 $8,230,000 $374,091 $10,475 2.69%
USDA 5 $1,165,000 $233,000 $6,425 2.85%

For the 2021 period, Republic Bank's most frequently originated loan type of loans were Conventional, with 1,832 originations. Their 2nd most popular type is FHA, with 126 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 931 $413,155,000 $443,776 $4,749 3.06%
Refi 550 $190,140,000 $345,709 $3,601 2.88%
Cash Out Refi 303 $98,975,000 $326,650 $4,167 2.97%
Home Improvement 138 $17,280,000 $125,217 $618 4.32%
Other 63 $11,425,000 $181,349 $2,006 4.18%

For the 2021, Republic Bank's most frequently cited loan purpose of loans were Home Purchase, with 931 originations. The 2nd most popular reason of loans were Refi, with 550 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,442 $504,340,000 $349,750 $4,583 3.11%
15 Year 267 $61,675,000 $230,993 $3,029 2.72%
20 Year 134 $37,240,000 $277,910 $3,682 3.19%
5 Year 65 $88,835,000 $1,366,692 $47 4.20%
Other 43 $20,105,000 $467,558 $3,014 3.38%
10 Year 27 $15,035,000 $556,852 $1,590 3.84%
1 Year 7 $3,745,000 $535,000 $0 4.18%

For the 2021, Republic Bank's most frequently cited loan length of loans were 30 Year, with 1,442 originations. The 2nd most popular length of loans were 15 Year, with 267 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 1,362 $480,580,000 $352,849
$<1k 149 $32,185,000 $216,007
$2k-3k 65 $18,745,000 $288,385
$3k-4k 24 $8,870,000 $369,583
$5k+ 13 $6,545,000 $503,462

$4,583 of loans were Republic Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 1,362 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 851 $342,445,000 $402,403
3-4% 596 $235,900,000 $395,805
<2.5% 344 $88,510,000 $257,297
4-5% 157 $62,025,000 $395,064
5-6% 36 $2,080,000 $57,778
6-7% 1 $15,000 $15,000

During 2021, Republic Bank's average interest rate of loans were 3.11%, while their most frequently originated rate bucket of loans were 2.5-3%, with 851 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 856 $241,930,000 $282,629 $4,261 2.96%
$100k-200k 510 $78,760,000 $154,431 $3,487 3.02%
$400k-600k 222 $105,930,000 $477,162 $5,212 2.93%
$100,000 or less 170 $9,560,000 $56,235 $1,091 4.32%
$600k-1MM 135 $100,595,000 $745,148 $4,986 3.14%
$1MM+ 92 $194,200,000 $2,110,870 $7,172 3.31%

2021 saw Republic Bank place emphasis on $200k-400k loans with 856 originations, totaling $241,930,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 444 $117,260,000 $264,099 $4,161 3.07%
$150k-250k 399 $128,735,000 $322,644 $4,047 3.08%
$250k+ 376 $234,030,000 $622,420 $4,930 3.18%
$75k-100k 306 $66,520,000 $217,386 $3,993 3.03%
$50k-75k 268 $51,460,000 $192,015 $4,078 2.99%
$50k or less 97 $13,255,000 $136,649 $3,440 3.06%

Republic Bank lent most frequently to those with incomes in the $100k-150k range, with 444 originations. The second most popular income band? $150k-250k, with 399 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 519 $168,565,000 $324,788 $3,918 3.05%
30-36% 391 $125,815,000 $321,777 $4,261 3.07%
<20% 208 $80,390,000 $386,490 $3,914 2.99%
40% 97 $31,935,000 $329,227 $4,015 3.04%
42% 76 $22,150,000 $291,447 $4,440 3.42%
43% 71 $21,885,000 $308,239 $4,823 2.97%
39% 67 $21,295,000 $317,836 $4,163 3.24%
38% 63 $21,735,000 $345,000 $4,586 3.19%
36% 62 $17,730,000 $285,968 $4,073 3.11%
37% 57 $13,895,000 $243,772 $4,046 3.18%
41% 56 $20,480,000 $365,714 $4,052 3.20%
44% 48 $14,590,000 $303,958 $4,463 3.01%
47% 37 $10,565,000 $285,541 $4,313 2.83%
46% 32 $9,210,000 $287,813 $3,708 2.91%
45% 31 $8,375,000 $270,161 $4,664 2.99%
48% 30 $8,980,000 $299,333 $4,911 2.97%
49% 24 $6,080,000 $253,333 $4,755 2.97%
50-60% 15 $5,475,000 $365,000 $7,579 2.96%
>60% 2 $360,000 $180,000 $0 4.00%

Republic Bank lent most frequently to those with DTI ratios of 20-30%, with 519 originations. The next most common DTI ratio? 30-36%, with 391 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,730 $565,930,000 $327,127 $4,166 3.06%
Not applicable 69 $111,845,000 $1,620,942 $0 4.20%
Asian 62 $22,580,000 $364,194 $4,667 3.04%
Black 65 $16,195,000 $249,154 $4,929 3.13%
Not provided 55 $13,645,000 $248,091 $3,361 3.62%
American Indian 3 $435,000 $145,000 $5 4.38%
Other Asian 1 $345,000 $345,000 $5,004 2.88%

Approval Rates

Total approvals of all applications
85.41%

Republic Bank has an average approval rate.

Pick Rate

Approvals leading to origination
82.33%

Republic Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,985 $730,975,000 $368,249

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,985 $730,975,000 $368,249

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 141 $31,625,000 $224,291 $3,063 3.43%
40-60% 318 $122,200,000 $384,277 $3,814 2.86%
60-80% 755 $336,975,000 $446,325 $4,093 3.02%
80-100% 606 $221,080,000 $364,818 $4,757 2.97%
Over 100% 8 $2,970,000 $371,250 $16,574 2.59%
Under 20% 157 $16,125,000 $102,707 $810 4.45%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Republic Bank 1601 Market Street Philadelphia, PA 19103 Full Service B&M $385,759
Republic Bank 305 East Street Road Feasterville Trevose, PA 19053 Full Service B&M $36,256
Republic Bank 331 Tilton Rd, Ste 18 Northfield, NJ 8225 Full Service B&M $42,122
Republic Bank 35 East Wynnewood Road Wynnewood, PA 19096 Full Service B&M $150,873
Republic Bank 399 Route 70 East Cherry Hill, NJ 8034 Full Service B&M $308,718
Republic Bank 401 Ganttown Road Sewell, NJ 8080 Full Service B&M $154,744
Republic Bank 421 West Germantown Pike Plymouth Meeting, PA 19462 Full Service B&M $177,342
Republic Bank 448 East Baltimore Avenue Media, PA 19063 Full Service B&M $244,034
Republic Bank 475 Haddonfield Road Cherry Hill, NJ 8002 Full Service B&M $138,155
Republic Bank 50 South 16th Street, Suite 2400 Philadelphia, PA 19102 Full Service B&M $0
Republic Bank 525 Route 73 N, Suites 100-101 Marlton, NJ 8053 Full Service B&M $0
Republic Bank 599 S. Oxford Valley Rd Fairless Hills, PA 19030 Full Service B&M $97,218
Republic Bank 100 William Dalton Drive Glassboro, NJ 8028 Full Service B&M $240,851
Republic Bank 101 Laurel Oak Road Voorhees, NJ 8043 Full Service B&M $259,659
Republic Bank 1400 Blackwood-Clementon Road Clementon, NJ 8021 Full Service B&M $99,222
Republic Bank 1408 Old York Road Abington, PA 19001 Full Service B&M $152,953
Republic Bank 1544 Route 38 Lumberton, NJ 8048 Full Service B&M $163,446
Republic Bank 610 Cross Keys Road, Building 400 Sicklerville, NJ 8081 Full Service B&M $48,366
Republic Bank 7300 Frankford Avenue Philadelphia, PA 19136 Full Service B&M $47,840
Republic Bank 780 Route 70 West Marlton, NJ 8053 Full Service B&M $224,605
Republic Bank 830 Third Avenue New York, NY 10022 Full Service B&M $80,615
Republic Bank 833 Chestnut Street Suite 170 Philadelphia, PA 19107 Full Service B&M $58,041
Republic Bank 8764 Frankford Avenue Philadelphia, PA 19136 Full Service B&M $66,209
Republic Bank 90 Fifth Avenue New York, NY 10011 Full Service B&M $85,089
Republic Bank 1601 Walnut Street Philadelphia, PA 19103 Full Service B&M $199,599
Republic Bank 1750 Deptford Center Road Deptford, NJ 8096 Full Service B&M $836
Republic Bank 178 E Greentree Road Marlton, NJ 8053 Full Service B&M $44,953
Republic Bank 1818 Market Street Philadelphia, PA 19103 Full Service B&M $154,598
Republic Bank 199 New Road Somers Point, NJ 8244 Full Service B&M $106,987
Republic Bank 2 Skeet Road Medford, NJ 8055 Full Service B&M $222,021
Republic Bank 220 Route 73 North West Berlin, NJ 8091 Full Service B&M $125,837
Republic Bank 230 Marter Avenue Moorestown, NJ 8057 Full Service B&M $186,927
Republic Bank 2734 Street Road Bensalem, PA 19020 Full Service B&M $31,708
Republic Bank 30 Kings Highway East Haddonfield, NJ 8033 Full Service B&M $230,142

For 2021, Republic Bank had 34 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $149,160
Net interest income $130,783
Total noninterest income $30,956
Gross Fiduciary activities income $0
Service charges on deposit accounts $3,129
Trading account gains and fees $0
Additional Noninterest Income $27,827
Pre-tax net operating income $36,769
Securities gains (or losses, -) $424
Income before extraordinary items $27,828
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $27,828
Minority interest net income $0
Net income $27,828
Sale, conversion, retirement of capital stock, net $0
Net operating income $27,493

Republic Bank's gross interest income from loans was $149,160,000.
Republic Bank's net interest income from loans was $130,783,000.
Republic Bank's fee based income from loans was $3,129,000.
Republic Bank's net income from loans was $27,828,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $18,377
Provision for credit losses $5,750
Total noninterest expense $119,220
Salaries and employee benefits $56,689
Premises and equipment expense $23,638
Additional noninterest expense $38,893
Applicable income taxes $9,365
Net charge-offs $-239
Cash dividends $0

Republic Bank's interest expense for loans was $18,377,000.
Republic Bank's payroll and benefits expense were $56,689,000.
Republic Bank's property, plant and equipment expenses $23,638,000.

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 1.0%
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 $5,195,097
Deposits held in domestic offices $5,195,097
Deposits by Individuals, partnerships, and corporations $3,639,936
Deposits by U.S. Government $6
Deposits by States and political subdivisions in the U.S. $1,555,155
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $1,979,620
Demand deposits $799,312
Nontransaction accounts $3,215,477
Money market deposit accounts (MMDAs) $2,488,377
Other savings deposits (excluding MMDAs) $529,155
Total time deposits $197,946
Total time and savings deposits $4,395,785
Noninterest-bearing deposits $799,312
Interest-bearing deposits $4,395,785
Retail deposits $5,114,171
IRAs and Keogh plan accounts $12,347
Brokered deposits $1,018
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $5,616,268
Cash & Balances due from depository institutions $118,884
Interest-bearing balances $104,833
Total securities $2,744,831
Federal funds sold & reverse repurchase $0
Net loans and leases $2,502,163
Loan and leases loss allowance $18,964
Trading account assets $0
Bank premises and fixed assets $203,067
Other real estate owned $360
Goodwill and other intangibles $4,705
All other assets $42,258

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $5,616,268
Total Liabilities $5,294,171
Total deposits $5,195,097
Interest-bearing deposits $4,395,785
Deposits held in domestic offices $5,195,097
% insured (estimated) $35
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $99,074

Issued Loan Types

Type Value (in 000's)
Net loans and leases $2,502,163
Loan and leases loss allowance $18,964
Total loans and leases (domestic) $2,521,127
All real estate loans $2,157,236
Real estate loans in domestic offices $2,157,236
Construction and development loans $218,410
Residential 1-4 family construction $57,503
Other construction, all land development and other land $160,907
Loans secured by nonfarm nonresidential properties $1,105,011
Nonfarm nonresidential secured by owner-occupied properties $528,208
Commercial real estate & other non-farm, non-residential $576,803
Multifamily residential real estate $110,021
1-4 family residential loans $723,134
Farmland loans $660
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $322,575
To non-U.S. addressees $0
Loans to individuals $2,183
Credit card loans $321
Related Plans $1,263
Consumer Auto Loans $0
Other loans to individuals $599
All other loans & leases $45,891
Loans to foreign governments and official institutions $0
Other loans $4,506
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $18,616
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Republic Bank had $2,502,163,000 of loans outstanding in 2021. $2,157,236,000 of loans were in real estate loans. $218,410,000 of loans were in development loans. $110,021,000 of loans were in multifamily mortgage loans. $723,134,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $321,000 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 657 $199,980 $304,384
Nonfarm, nonresidential loans - <$100k 85 $4,663 $54,859
Nonfarm, nonresidential loans - $100-250k 201 $28,520 $141,891
Nonfarm, nonresidential loans - $250k-1MM 371 $166,797 $449,588
Commercial & Industrial, US addressed loans - <$1MM 1,482 $149,686 $101,003
Commercial & Industrial, US addressed loans - <$100k 973 $27,970 $28,746
Commercial & Industrial, US addressed loans - $100-250k 278 $37,976 $136,604
Commercial & Industrial, US addressed loans - $250k-1MM 231 $83,740 $362,511
Farmland loans - <$1MM 1 $129 $129,000
Farmland loans - $100-250k 1 $129 $129,000