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, and Easton among others. We have data for 4 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

    91

    Origination Dollar Volume (All Markets)

    $23,925,000

    Employee count

    78

    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) 82 $21,010,000 $256,220 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 3 $1,315,000 $438,333 $0 0.00%
    SALISBURY, MD-DE (FHA|USDA|VA) 4 $1,230,000 $307,500 $0 0.00%
    Easton, MD (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
    Arundel Federal Savings Bank's top markets include Baltimore, Washington, Salisbury, and Easton among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 91 $23,925,000 $262,912 $0 0.00%

    For 2019, Arundel Federal Savings Bank's most frequently originated type of loan was Conventional, with 91 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 45 $12,635,000 $280,778 $0 0.00%
    Home Purchase 23 $7,175,000 $311,957 $0 0.00%
    Cash Out Refi 12 $2,570,000 $214,167 $0 0.00%
    Other 6 $1,330,000 $221,667 $0 0.00%
    Home Improvement 5 $215,000 $43,000 $0 0.00%

    For 2019, Arundel Federal Savings Bank's most frequently cited loan purpose was Refi, with 45 originations. The 2nd most popular reason was Home Purchase, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 91 $23,925,000 $262,912 $0 0.00%

    For 2019, Arundel Federal Savings Bank's most frequently cited loan duration was Other, with 91 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 37 $10,655,000 $287,973 $0 0.00%
    $100k-200k 20 $2,830,000 $141,500 $0 0.00%
    $400k-600k 17 $8,055,000 $473,824 $0 0.00%
    $100,000 or less 15 $885,000 $59,000 $0 0.00%
    $600k-1MM 2 $1,500,000 $750,000 $0 0.00%

    2019 saw Arundel Federal Savings Bank place emphasis on $200k-400k loans with 37 originations, totaling $10,655,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $8,000,000 $285,714 $0 0.00%
    $150k-250k 14 $4,550,000 $325,000 $0 0.00%
    $250k+ 13 $5,105,000 $392,692 $0 0.00%
    $50k-75k 11 $1,565,000 $142,273 $0 0.00%
    $50k or less 11 $975,000 $88,636 $0 0.00%
    $75k-100k 10 $2,170,000 $217,000 $0 0.00%

    Arundel Federal Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $150k-250k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 91 $23,925,000 $262,912 $0 0.00%

    Arundel Federal Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 91 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $21,320,000 $266,500 $0 0.00%
    Not provided 7 $1,685,000 $240,714 $0 0.00%
    American Indian 2 $550,000 $275,000 $0 0.00%
    Asian 1 $235,000 $235,000 $0 0.00%
    Black 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.39%

    Arundel Federal 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
    75.82%

    Arundel Federal Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 91 $23,925,000 $262,912

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 91 $23,925,000 $262,912

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Arundel Federal Savings Bank 1049 Md Rte 3 North Gambrills, MD 21054 Full Service B&M $18,755
    Arundel Federal Savings Bank 2661 Riva Road Annapolis, MD 21401 Full Service B&M $32,983
    Arundel Federal Savings Bank 333 E Patapsco Ave Baltimore, MD 21225 Full Service B&M $69,387
    Arundel Federal Savings Bank 4179 Mountain Rd Pasadena, MD 21122 Full Service B&M $89,096
    Arundel Federal Savings Bank 598 Benfield Rd Severna Park, MD 21146 Full Service B&M $34,036
    Arundel Federal Savings Bank 655 Crain Highway S Glen Burnie, MD 21061 Full Service B&M $120,163
    Arundel Federal Savings Bank 655 Crain Highway, S Glen Burnie, MD 21061 Full Service B&M $0

    For 2019, Arundel Federal Savings Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,038
    Net interest income $9,686
    Total noninterest income $445
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $66
    Trading account gains and fees $0
    Additional Noninterest Income $379
    Pre-tax net operating income $906
    Securities gains (or losses, -) $65
    Income before extraordinary items $722
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $722
    Minority interest net income $0
    Net income $722
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $670

    Arundel Federal Savings Bank's gross interest income from loans was $15,038,000.
    Arundel Federal Savings Bank's net interest income from loans was $9,686,000.
    Arundel Federal Savings Bank's fee based income from loans was $66,000.
    Arundel Federal Savings Bank's net income from loans was $722,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,352
    Provision for credit losses $115
    Total noninterest expense $9,110
    Salaries and employee benefits $5,823
    Premises and equipment expense $1,008
    Additional noninterest expense $2,279
    Applicable income taxes $249
    Net charge-offs $24
    Cash dividends $0

    Arundel Federal Savings Bank's interest expense for loans was $5,352,000.
    Arundel Federal Savings Bank's payroll and benefits expense were $5,823,000.
    Arundel Federal Savings Bank's property, plant and equipment expenses $1,008,000.

    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 $350,847
    Deposits held in domestic offices $350,847
    Deposits by Individuals, partnerships, and corporations $350,847
    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 $50,291
    Demand deposits $2,227
    Nontransaction accounts $300,556
    Money market deposit accounts (MMDAs) $47,855
    Other savings deposits (excluding MMDAs) $33,077
    Total time deposits $219,624
    Total time and savings deposits $348,620
    Noninterest-bearing deposits $3,905
    Interest-bearing deposits $346,942
    Retail deposits $333,999
    IRAs and Keogh plan accounts $73,904
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $424,211
    Cash & Balances due from depository institutions $34,963
    Interest-bearing balances $32,861
    Total securities $55,567
    Federal funds sold & reverse repurchase $0
    Net loans and leases $326,819
    Loan and leases loss allowance $1,444
    Trading account assets $0
    Bank premises and fixed assets $3,605
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $3,257

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $424,211
    Total Liabilities $358,081
    Total deposits $350,847
    Interest-bearing deposits $346,942
    Deposits held in domestic offices $350,847
    % insured (estimated) $98
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $2,234

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $326,819
    Loan and leases loss allowance $1,444
    Total loans and leases (domestic) $328,263
    All real estate loans $328,058
    Real estate loans in domestic offices $328,058
    Construction and development loans $442
    Residential 1-4 family construction $442
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $33,185
    Nonfarm nonresidential secured by owner-occupied properties $0
    Commercial real estate & other non-farm, non-residential $33,185
    Multifamily residential real estate $2,905
    1-4 family residential loans $291,526
    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 $431
    Credit card loans $0
    Related Plans $13
    Consumer Auto Loans $354
    Other loans to individuals $64
    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 $914
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Arundel Federal Savings Bank had $326,819,000 of loans outstanding in 2019. $328,058,000 of loans were in real estate loans. $442,000 of loans were in development loans. $2,905,000 of loans were in multifamily mortgage loans. $291,526,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $354,000 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 17 $5,761 $338,882
    Nonfarm, nonresidential loans - $100-250k 11 $1,957 $177,909
    Nonfarm, nonresidential loans - $250k-1MM 6 $3,804 $634,000