Haven Savings Bank Mortgage Rates, Fees & Info

Hoboken, NJ

LEI: 549300O4MSB4K4FT2E90

Tax ID: 22-0981507

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Haven Savings Bank is a smaller bank specializing in Refi and Other loans. Haven Savings Bank has a high proportion of conventional loans. Their top markets include New York, Vineland, Allentown, Trenton, and Philadelphia among others. Haven Savings Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

311

Origination Dollar Volume (All Markets)

$255,595,000

Employee count

107

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 306 $246,430,000 $805,327 $0 0.00%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $5,135,000 $5,135,000 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $3,005,000 $3,005,000 $0 0.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $870,000 $435,000 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%

Haven Savings Bank's top markets include New York, Vineland, Allentown, Trenton, and Philadelphia among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 311 $255,595,000 $821,849 $0 0.00%

For the 2021 period, Haven Savings Bank's most frequently originated loan type of loans were Conventional, with 311 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 136 $80,110,000 $589,044 $0 0.00%
Home Purchase 94 $45,910,000 $488,404 $0 0.00%
Other 81 $129,575,000 $1,599,691 $0 0.00%

For the 2021, Haven Savings Bank's most frequently cited loan purpose of loans were Refi, with 136 originations. The 2nd most popular reason of loans were Home Purchase, with 94 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 311 $255,595,000 $821,849 $0 0.00%

For the 2021, Haven Savings Bank's most frequently cited loan length of loans were Other, with 311 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$600k-1MM 83 $62,975,000 $758,735 $0 0.00%
$1MM+ 76 $139,070,000 $1,829,868 $0 0.00%
$200k-400k 73 $21,575,000 $295,548 $0 0.00%
$400k-600k 56 $28,370,000 $506,607 $0 0.00%
$100k-200k 21 $3,425,000 $163,095 $0 0.00%
$100,000 or less 2 $180,000 $90,000 $0 0.00%

2021 saw Haven Savings Bank place emphasis on $600k-1MM loans with 83 originations, totaling $62,975,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 82 $63,970,000 $780,122 $0 0.00%
$150k-250k 74 $36,430,000 $492,297 $0 0.00%
$100k-150k 37 $11,515,000 $311,216 $0 0.00%
$75k-100k 17 $4,295,000 $252,647 $0 0.00%
$50k-75k 11 $1,795,000 $163,182 $0 0.00%
$50k or less 1 $85,000 $85,000 $0 0.00%

Haven Savings Bank lent most frequently to those with incomes in the $250k+ range, with 82 originations. The second most popular income band? $150k-250k, with 74 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 311 $255,595,000 $821,849 $0 0.00%

Haven Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 311 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 85 $135,785,000 $1,597,471 $0 0.00%
White 136 $72,330,000 $531,838 $0 0.00%
Not provided 50 $27,150,000 $543,000 $0 0.00%
Asian 27 $14,275,000 $528,704 $0 0.00%
Black 9 $3,315,000 $368,333 $0 0.00%
Asian Indian 2 $1,550,000 $775,000 $0 0.00%
Korean 1 $1,035,000 $1,035,000 $0 0.00%
Chinese 1 $155,000 $155,000 $0 0.00%

Approval Rates

Total approvals of all applications
96.45%

Haven Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
88.77%

Haven Savings Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 311 $255,595,000 $821,849

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
311 $255,595,000 $821,849

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Haven Savings Bank 1 West Mount Pleasant Avenue Livingston, NJ 7039 Full Service B&M $58,589
Haven Savings Bank 1234 Paterson Plank Road Secaucus, NJ 7094 Full Service B&M $132,399
Haven Savings Bank 177 Main Street Madison, NJ 7940 Full Service B&M $55,849
Haven Savings Bank 184 Elm Street Westfield, NJ 7090 Full Service B&M $104,420
Haven Savings Bank 201 Bellevue Avenue Montclair, NJ 7043 Full Service B&M $38,946
Haven Savings Bank 301 Center Avenue Westwood, NJ 7675 Full Service B&M $87,351
Haven Savings Bank 385 Springfield Avenue Summit, NJ 7901 Full Service B&M $100,519
Haven Savings Bank 555 Springfield Avenue Berkeley Heights, NJ 7922 Full Service B&M $53,291
Haven Savings Bank 621 Washington Street Hoboken, NJ 7030 Full Service B&M $199,112

For 2021, Haven Savings Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $29,816
Net interest income $24,434
Total noninterest income $1,293
Gross Fiduciary activities income $0
Service charges on deposit accounts $109
Trading account gains and fees $0
Additional Noninterest Income $1,184
Pre-tax net operating income $4,538
Securities gains (or losses, -) $0
Income before extraordinary items $3,997
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $3,997
Minority interest net income $0
Net income $3,997
Sale, conversion, retirement of capital stock, net $0
Net operating income $3,997

Haven Savings Bank's gross interest income from loans was $29,816,000.
Haven Savings Bank's net interest income from loans was $24,434,000.
Haven Savings Bank's fee based income from loans was $109,000.
Haven Savings Bank's net income from loans was $3,997,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $5,382
Provision for credit losses $0
Total noninterest expense $21,189
Salaries and employee benefits $14,254
Premises and equipment expense $1,963
Additional noninterest expense $4,972
Applicable income taxes $541
Net charge-offs $0
Cash dividends $0

Haven Savings Bank's interest expense for loans was $5,382,000.
Haven Savings Bank's payroll and benefits expense were $14,254,000.
Haven Savings Bank's property, plant and equipment expenses $1,963,000.

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 1.0%
HELOC loans 5.0%
All other family 1.0%
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 $873,840
Deposits held in domestic offices $873,840
Deposits by Individuals, partnerships, and corporations $869,016
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $4,824
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 $198,494
Demand deposits $118,413
Nontransaction accounts $675,346
Money market deposit accounts (MMDAs) $73,717
Other savings deposits (excluding MMDAs) $137,047
Total time deposits $464,582
Total time and savings deposits $755,427
Noninterest-bearing deposits $118,413
Interest-bearing deposits $755,427
Retail deposits $776,738
IRAs and Keogh plan accounts $49,862
Brokered deposits $20,501
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,018,278
Cash & Balances due from depository institutions $59,580
Interest-bearing balances $56,402
Total securities $145,692
Federal funds sold & reverse repurchase $0
Net loans and leases $759,630
Loan and leases loss allowance $5,352
Trading account assets $0
Bank premises and fixed assets $6,801
Other real estate owned $0
Goodwill and other intangibles $5,947
All other assets $40,628

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,018,278
Total Liabilities $908,118
Total deposits $873,840
Interest-bearing deposits $755,427
Deposits held in domestic offices $873,840
% insured (estimated) $86
Federal funds purchased and repurchase agreements $889
Trading liabilities $0
Other borrowed funds $25,000
Subordinated debt $0
All other liabilities $8,389

Issued Loan Types

Type Value (in 000's)
Net loans and leases $759,630
Loan and leases loss allowance $5,352
Total loans and leases (domestic) $764,982
All real estate loans $760,991
Real estate loans in domestic offices $760,991
Construction and development loans $8,348
Residential 1-4 family construction $6,111
Other construction, all land development and other land $2,237
Loans secured by nonfarm nonresidential properties $249,275
Nonfarm nonresidential secured by owner-occupied properties $42,673
Commercial real estate & other non-farm, non-residential $206,602
Multifamily residential real estate $86,146
1-4 family residential loans $417,222
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $3,977
To non-U.S. addressees $0
Loans to individuals $15
Credit card loans $0
Related Plans $12
Consumer Auto Loans $0
Other loans to individuals $3
All other loans & leases $0
Loans to foreign governments and official institutions $0
Other loans $0
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 $320
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Haven Savings Bank had $759,630,000 of loans outstanding in 2021. $760,991,000 of loans were in real estate loans. $8,348,000 of loans were in development loans. $86,146,000 of loans were in multifamily mortgage loans. $417,222,000 of loans were in 1-4 family mortgage loans. $0 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 110 $52,891 $480,827
Nonfarm, nonresidential loans - <$100k 3 $193 $64,333
Nonfarm, nonresidential loans - $100-250k 6 $772 $128,667
Nonfarm, nonresidential loans - $250k-1MM 101 $51,926 $514,119
Commercial & Industrial, US addressed loans - <$1MM 83 $3,587 $43,217
Commercial & Industrial, US addressed loans - <$100k 53 $920 $17,358
Commercial & Industrial, US addressed loans - $100-250k 21 $1,485 $70,714
Commercial & Industrial, US addressed loans - $250k-1MM 9 $1,182 $131,333