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 loans. Arundel Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Baltimore, Washington, Salisbury, Easton, and Philadelphia among others. We have data for 6 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

    208

    Origination Dollar Volume (All Markets)

    $69,260,000

    Employee count

    72

    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) 182 $62,060,000 $340,989 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 10 $3,110,000 $311,000 $0 0.00%
    SALISBURY, MD-DE (FHA|USDA|VA) 11 $2,865,000 $260,455 $0 0.00%
    Outside of Metro Areas 2 $640,000 $320,000 $0 0.00%
    Easton, MD (FHA|USDA|VA) 2 $350,000 $175,000 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    Arundel Federal Savings Bank's top markets include Baltimore, Washington, Salisbury, Easton, and Philadelphia among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 208 $69,260,000 $332,981 $0 0.00%

    For 2020, Arundel Federal Savings Bank's most frequently originated type of loan was Conventional, with 208 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 178 $57,830,000 $324,888 $0 0.00%
    Home Purchase 21 $10,005,000 $476,429 $0 0.00%
    Home Improvement 6 $860,000 $143,333 $0 0.00%
    Other 2 $240,000 $120,000 $0 0.00%
    Cash Out Refi 1 $325,000 $325,000 $0 0.00%

    For 2020, Arundel Federal Savings Bank's most frequently cited loan purpose was Refi, with 178 originations. The 2nd most popular reason was Home Purchase, with 21 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 208 $69,260,000 $332,981 $0 0.00%

    For 2020, Arundel Federal Savings Bank's most frequently cited loan duration was Other, with 208 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 90 $25,660,000 $285,111 $0 0.00%
    $100k-200k 47 $7,275,000 $154,787 $0 0.00%
    $400k-600k 44 $21,450,000 $487,500 $0 0.00%
    $600k-1MM 17 $12,885,000 $757,941 $0 0.00%
    $100,000 or less 9 $585,000 $65,000 $0 0.00%
    $1MM+ 1 $1,405,000 $1,405,000 $0 0.00%

    2020 saw Arundel Federal Savings Bank place emphasis on $200k-400k loans with 90 originations, totaling $25,660,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 60 $20,210,000 $336,833 $0 0.00%
    $100k-150k 48 $15,100,000 $314,583 $0 0.00%
    $250k+ 40 $22,770,000 $569,250 $0 0.00%
    $75k-100k 26 $5,990,000 $230,385 $0 0.00%
    $50k-75k 18 $3,030,000 $168,333 $0 0.00%
    $50k or less 11 $1,475,000 $134,091 $0 0.00%

    Arundel Federal Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 60 originations. The second most popular income band? $100k-150k, with 48 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 208 $69,260,000 $332,981 $0 0.00%

    Arundel Federal Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 208 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 175 $57,005,000 $325,743 $0 0.00%
    Not provided 15 $5,755,000 $383,667 $0 0.00%
    Asian 11 $4,245,000 $385,909 $0 0.00%
    Black 6 $2,040,000 $340,000 $0 0.00%
    American Indian 1 $215,000 $215,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.70%

    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
    81.73%

    Arundel Federal Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 208 $69,260,000 $332,981

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 208 $69,260,000 $332,981

    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 $18,799
    Arundel Federal Savings Bank 2661 Riva Road Annapolis, MD 21401 Full Service B&M $30,183
    Arundel Federal Savings Bank 333 E Patapsco Ave Brooklyn, MD 21225 Full Service B&M $66,911
    Arundel Federal Savings Bank 4179 Mountain Rd Pasadena, MD 21122 Full Service B&M $90,460
    Arundel Federal Savings Bank 598 Benfield Rd Severna Park, MD 21146 Full Service B&M $32,986
    Arundel Federal Savings Bank 655 Crain Highway S Glen Burnie, MD 21061 Full Service B&M $120,397
    Arundel Federal Savings Bank 655 Crain Highway, S Glen Burnie, MD 21061 Full Service B&M $0

    For 2020, Arundel Federal Savings Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,459
    Net interest income $8,606
    Total noninterest income $560
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $54
    Trading account gains and fees $0
    Additional Noninterest Income $506
    Pre-tax net operating income $379
    Securities gains (or losses, -) $0
    Income before extraordinary items $302
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $302
    Minority interest net income $0
    Net income $302
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $302

    Arundel Federal Savings Bank's gross interest income from loans was $13,459,000.
    Arundel Federal Savings Bank's net interest income from loans was $8,606,000.
    Arundel Federal Savings Bank's fee based income from loans was $54,000.
    Arundel Federal Savings Bank's net income from loans was $302,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,853
    Provision for credit losses $-160
    Total noninterest expense $8,947
    Salaries and employee benefits $5,586
    Premises and equipment expense $1,028
    Additional noninterest expense $2,333
    Applicable income taxes $77
    Net charge-offs $-311
    Cash dividends $0

    Arundel Federal Savings Bank's interest expense for loans was $4,853,000.
    Arundel Federal Savings Bank's payroll and benefits expense were $5,586,000.
    Arundel Federal Savings Bank's property, plant and equipment expenses $1,028,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    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 9.0%
    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 $367,051
    Deposits held in domestic offices $367,051
    Deposits by Individuals, partnerships, and corporations $367,051
    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 $63,364
    Demand deposits $3,065
    Nontransaction accounts $303,687
    Money market deposit accounts (MMDAs) $53,563
    Other savings deposits (excluding MMDAs) $38,107
    Total time deposits $212,017
    Total time and savings deposits $363,986
    Noninterest-bearing deposits $4,710
    Interest-bearing deposits $362,341
    Retail deposits $349,416
    IRAs and Keogh plan accounts $72,834
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $441,492
    Cash & Balances due from depository institutions $36,613
    Interest-bearing balances $34,594
    Total securities $65,706
    Federal funds sold & reverse repurchase $0
    Net loans and leases $332,592
    Loan and leases loss allowance $1,595
    Trading account assets $0
    Bank premises and fixed assets $3,295
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $3,286

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $441,492
    Total Liabilities $374,066
    Total deposits $367,051
    Interest-bearing deposits $362,341
    Deposits held in domestic offices $367,051
    % insured (estimated) $97
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $2,015

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $332,592
    Loan and leases loss allowance $1,595
    Total loans and leases (domestic) $334,187
    All real estate loans $333,545
    Real estate loans in domestic offices $333,545
    Construction and development loans $877
    Residential 1-4 family construction $877
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $52,307
    Nonfarm nonresidential secured by owner-occupied properties $0
    Commercial real estate & other non-farm, non-residential $52,307
    Multifamily residential real estate $2,749
    1-4 family residential loans $277,612
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $690
    To non-U.S. addressees $0
    Loans to individuals $369
    Credit card loans $0
    Related Plans $10
    Consumer Auto Loans $284
    Other loans to individuals $75
    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 $783
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Arundel Federal Savings Bank had $332,592,000 of loans outstanding in 2020. $333,545,000 of loans were in real estate loans. $877,000 of loans were in development loans. $2,749,000 of loans were in multifamily mortgage loans. $277,612,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $284,000 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 23 $9,528 $414,261
    Nonfarm, nonresidential loans - $100-250k 11 $1,869 $169,909
    Nonfarm, nonresidential loans - $250k-1MM 12 $7,659 $638,250
    Commercial & Industrial, US addressed loans - <$1MM 28 $690 $24,643
    Commercial & Industrial, US addressed loans - <$100k 28 $690 $24,643