Arundel Federal Savings Bank Mortgage Rates, Fees & Info

Glen Burnie, MD

LEI: 549300P5XMXPZNGV5915

Tax ID: 52-0230272

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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

    Arundel Federal Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Arundel Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, Washington, Salisbury, California, and Cambridge among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Arundel Federal Savings Bank has an above 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

    145

    Origination Dollar Volume (All Markets)

    $44,775,000

    Employee count

    76

    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
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 118 $34,750,000 $294,492 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 17 $5,925,000 $348,529 $0 0.00%
    SALISBURY, MD-DE (FHA|USDA|VA) 8 $3,420,000 $427,500 $0 0.00%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
    Cambridge, MD (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    Arundel Federal Savings Bank's top markets include Baltimore, Washington, Salisbury, California, and Cambridge among others.

    Their top states include:
  • Maryland (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 145 $44,775,000 $308,793 $0 0.00%

    For 2018, Arundel Federal Savings Bank's most frequently originated type of loan was Conventional, with 145 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 66 $20,810,000 $315,303 $0 0.00%
    Home Purchase 63 $22,015,000 $349,444 $0 0.00%
    Other 9 $975,000 $108,333 $0 0.00%
    Home Improvement 7 $975,000 $139,286 $0 0.00%

    For 2018, Arundel Federal Savings Bank's most frequently cited loan purpose was Refi, with 66 originations. The 2nd most popular reason was Home Purchase, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 145 $44,775,000 $308,793 $0 0.00%

    For 2018, Arundel Federal Savings Bank's most frequently cited loan duration was Other, with 145 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 45 $12,845,000 $285,444 $0 0.00%
    $100k-200k 37 $5,505,000 $148,784 $0 0.00%
    $400k-600k 33 $16,085,000 $487,424 $0 0.00%
    $100,000 or less 17 $905,000 $53,235 $0 0.00%
    $600k-1MM 13 $9,435,000 $725,769 $0 0.00%

    2018 saw Arundel Federal Savings Bank place emphasis on $200k-400k loans with 45 originations, totaling $12,845,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $11,575,000 $312,838 $0 0.00%
    $150k-250k 35 $11,565,000 $330,429 $0 0.00%
    $250k+ 22 $13,360,000 $607,273 $0 0.00%
    $50k-75k 21 $3,355,000 $159,762 $0 0.00%
    $75k-100k 17 $3,315,000 $195,000 $0 0.00%
    $50k or less 11 $1,015,000 $92,273 $0 0.00%

    Arundel Federal Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $150k-250k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 145 $44,775,000 $308,793 $0 0.00%

    Arundel Federal Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 145 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 122 $36,770,000 $301,393 $0 0.00%
    Not provided 12 $3,780,000 $315,000 $0 0.00%
    Asian 6 $3,080,000 $513,333 $0 0.00%
    Black 3 $695,000 $231,667 $0 0.00%
    Other Asian 1 $355,000 $355,000 $0 0.00%
    Not applicable 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.85%

    Arundel Federal Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.14%

    Arundel Federal Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 145 $44,775,000 $308,793

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 145 $44,775,000 $308,793

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Arundel Federal Savings Bank 598 Benfield Rd Severna Park, MD 21146 Full Service B&M $33,991
    Arundel Federal Savings Bank 655 Crain Highway S Glen Burnie, MD 21061 Full Service B&M $116,939
    Arundel Federal Savings Bank 1049 Md Rte 3 North Gambrills, MD 21054 Full Service B&M $19,312
    Arundel Federal Savings Bank 2661 Riva Road Annapolis, MD 21401 Full Service B&M $35,076
    Arundel Federal Savings Bank 333 E Patapsco Ave Baltimore, MD 21225 Full Service B&M $74,295
    Arundel Federal Savings Bank 4179 Mountain Rd Pasadena, MD 21122 Full Service B&M $87,990
    Arundel Federal Savings Bank 655 Crain Highway, S Glen Burnie, MD 21061 Full Service B&M $0

    For 2018, Arundel Federal Savings Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,820
    Net interest income $10,809
    Total noninterest income $330
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $64
    Trading account gains and fees $0
    Additional Noninterest Income $266
    Pre-tax net operating income $1,890
    Securities gains (or losses, -) $-53
    Income before extraordinary items $1,344
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,344
    Minority interest net income $0
    Net income $1,344
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,385

    Arundel Federal Savings Bank's gross interest income from loans was $14,820,000.
    Arundel Federal Savings Bank's net interest income from loans was $10,809,000.
    Arundel Federal Savings Bank's fee based income from loans was $64,000.
    Arundel Federal Savings Bank's net income from loans was $1,344,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,011
    Provision for credit losses $195
    Total noninterest expense $9,054
    Salaries and employee benefits $5,723
    Premises and equipment expense $1,032
    Additional noninterest expense $2,299
    Applicable income taxes $493
    Net charge-offs $98
    Cash dividends $0

    Arundel Federal Savings Bank's interest expense for loans was $4,011,000.
    Arundel Federal Savings Bank's payroll and benefits expense were $5,723,000.
    Arundel Federal Savings Bank's property, plant and equipment expenses $1,032,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 100.0%
    1-4 family residential loans 1.0%
    HELOC loans 10.0%
    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 $363,011
    Deposits held in domestic offices $363,011
    Deposits by Individuals, partnerships, and corporations $363,011
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    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 $53,157
    Demand deposits $1,672
    Nontransaction accounts $309,854
    Money market deposit accounts (MMDAs) $50,917
    Other savings deposits (excluding MMDAs) $31,561
    Total time deposits $227,376
    Total time and savings deposits $361,339
    Noninterest-bearing deposits $3,624
    Interest-bearing deposits $359,387
    Retail deposits $347,054
    IRAs and Keogh plan accounts $77,956
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $435,001
    Cash & Balances due from depository institutions $28,306
    Interest-bearing balances $25,943
    Total securities $61,415
    Federal funds sold & reverse repurchase $0
    Net loans and leases $337,926
    Loan and leases loss allowance $1,353
    Trading account assets $0
    Bank premises and fixed assets $3,711
    Other real estate owned $13
    Goodwill and other intangibles $0
    All other assets $3,630

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $435,001
    Total Liabilities $370,394
    Total deposits $363,011
    Interest-bearing deposits $359,387
    Deposits held in domestic offices $363,011
    % insured (estimated) $98
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $2,383

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $337,926
    Loan and leases loss allowance $1,353
    Total loans and leases (domestic) $339,279
    All real estate loans $339,290
    Real estate loans in domestic offices $339,290
    Construction and development loans $0
    Residential 1-4 family construction $0
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $27,622
    Nonfarm nonresidential secured by owner-occupied properties $0
    Commercial real estate & other non-farm, non-residential $27,622
    Multifamily residential real estate $3,114
    1-4 family residential loans $308,554
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $286
    Credit card loans $0
    Related Plans $9
    Consumer Auto Loans $191
    Other loans to individuals $86
    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 $1,034
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Arundel Federal Savings Bank had $337,926,000 of loans outstanding in 2018. $339,290,000 of loans were in real estate loans. $0 of loans were in development loans. $3,114,000 of loans were in multifamily mortgage loans. $308,554,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $191,000 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 15 $5,303 $353,533
    Nonfarm, nonresidential loans - <$100k 1 $40 $40,000
    Nonfarm, nonresidential loans - $100-250k 8 $1,629 $203,625
    Nonfarm, nonresidential loans - $250k-1MM 6 $3,634 $605,667