Malaga Bank F.s.b Mortgage Rates, Fees & Info

Palos Verdes Estates, CA

LEI: 549300PTYDNRSYG5A828

Tax ID: 33-0011033

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Malaga Bank F.s.b is a smaller bank specializing in Refi and Home Purchase loans. Malaga Bank F.s.b has a high proportion of conventional loans. Their top markets include Los Angeles, San Diego, Riverside, Santa Maria, and Oxnard among others. Malaga Bank F.s.b has an average approval rate for mortages when compared nationally. They have an above average pick rate when compared to the same sample of other lendors.


Originations

128

Origination Dollar Volume (All Markets)

$180,830,000

Employee count

74

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 115 $159,545,000 $1,387,348 $0 0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 6 $10,670,000 $1,778,333 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $7,280,000 $1,820,000 $0 0.00%
SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 2 $2,320,000 $1,160,000 $0 0.00%
OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $1,015,000 $1,015,000 $0 0.00%

Malaga Bank F.s.b's top markets include Los Angeles, San Diego, Riverside, Santa Maria, and Oxnard among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 128 $180,830,000 $1,412,734 $0 0.00%

For the 2021 period, Malaga Bank F.s.b's most frequently originated loan type of loans were Conventional, with 128 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 88 $128,610,000 $1,461,477 $0 0.00%
Home Purchase 40 $52,220,000 $1,305,500 $0 0.00%

For the 2021, Malaga Bank F.s.b's most frequently cited loan purpose of loans were Refi, with 88 originations. The 2nd most popular reason of loans were Home Purchase, with 40 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 128 $180,830,000 $1,412,734 $0 0.00%

For the 2021, Malaga Bank F.s.b's most frequently cited loan length of loans were Other, with 128 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 71 $140,735,000 $1,982,183 $0 0.00%
$600k-1MM 38 $30,270,000 $796,579 $0 0.00%
$400k-600k 19 $9,825,000 $517,105 $0 0.00%

2021 saw Malaga Bank F.s.b place emphasis on $1MM+ loans with 71 originations, totaling $140,735,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 3 $2,155,000 $718,333 $0 0.00%

Malaga Bank F.s.b lent most frequently to those with incomes in the $250k+ range, with 3 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 128 $180,830,000 $1,412,734 $0 0.00%

Malaga Bank F.s.b lent most frequently to those with DTI ratios of Exempt%, with 128 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 118 $170,290,000 $1,443,136 $0 0.00%
Not provided 7 $8,175,000 $1,167,857 $0 0.00%
White 2 $1,390,000 $695,000 $0 0.00%
Asian 1 $975,000 $975,000 $0 0.00%

Approval Rates

Total approvals of all applications
86.37%

Malaga Bank F.s.b has an average approval rate.

Pick Rate

Approvals leading to origination
96.09%

Malaga Bank F.s.b has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

Points and Fees

Points Originations Total Value Average Loan
Exempt 128 $180,830,000 $1,412,734

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
128 $180,830,000 $1,412,734

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Malaga Bank F.S.B. 1460 W. 25th Street San Pedro, CA 90732 Full Service B&M $184,648
Malaga Bank F.S.B. 27450 Hawthorne Boulevard Rolling Hills Estates, CA 90274 Full Service B&M $171,451
Malaga Bank F.S.B. 23670 Hawthorne Blvd, Ste 101a Torrance, CA 90505 Full Service B&M $32,885
Malaga Bank F.S.B. 2514 Via Tejon Palos Verdes Peninsula, CA 90274 Full Service B&M $429,453
Malaga Bank F.S.B. 25700 Crenshaw Blvd Torrance, CA 90505 Full Service B&M $125,563

For 2021, Malaga Bank F.s.b had 5 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $48,320
Net interest income $39,861
Total noninterest income $867
Gross Fiduciary activities income $0
Service charges on deposit accounts $87
Trading account gains and fees $0
Additional Noninterest Income $780
Pre-tax net operating income $28,374
Securities gains (or losses, -) $0
Income before extraordinary items $19,983
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $19,983
Minority interest net income $0
Net income $19,983
Sale, conversion, retirement of capital stock, net $0
Net operating income $19,983

Malaga Bank F.s.b's gross interest income from loans was $48,320,000.
Malaga Bank F.s.b's net interest income from loans was $39,861,000.
Malaga Bank F.s.b's fee based income from loans was $87,000.
Malaga Bank F.s.b's net income from loans was $19,983,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $8,459
Provision for credit losses $109
Total noninterest expense $12,245
Salaries and employee benefits $7,240
Premises and equipment expense $1,381
Additional noninterest expense $3,624
Applicable income taxes $8,391
Net charge-offs $-3
Cash dividends $8,000

Malaga Bank F.s.b's interest expense for loans was $8,459,000.
Malaga Bank F.s.b's payroll and benefits expense were $7,240,000.
Malaga Bank F.s.b's property, plant and equipment expenses $1,381,000.

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 0.0%
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 $1,022,662
Deposits held in domestic offices $1,022,662
Deposits by Individuals, partnerships, and corporations $946,695
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $74,742
Deposits by Commercial banks and other depository institutions in U.S. $1,225
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $301,698
Demand deposits $203,149
Nontransaction accounts $720,964
Money market deposit accounts (MMDAs) $297,755
Other savings deposits (excluding MMDAs) $99,448
Total time deposits $323,761
Total time and savings deposits $819,513
Noninterest-bearing deposits $203,149
Interest-bearing deposits $819,513
Retail deposits $797,387
IRAs and Keogh plan accounts $16,087
Brokered deposits $109,205
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,472,877
Cash & Balances due from depository institutions $200,229
Interest-bearing balances $199,092
Total securities $0
Federal funds sold & reverse repurchase $251
Net loans and leases $1,245,361
Loan and leases loss allowance $3,798
Trading account assets $0
Bank premises and fixed assets $13,951
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $13,085

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,472,877
Total Liabilities $1,294,045
Total deposits $1,022,662
Interest-bearing deposits $819,513
Deposits held in domestic offices $1,022,662
% insured (estimated) $80
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $268,006
Subordinated debt $0
All other liabilities $3,377

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,245,361
Loan and leases loss allowance $3,798
Total loans and leases (domestic) $1,249,159
All real estate loans $1,245,117
Real estate loans in domestic offices $1,245,117
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 $43,877
Nonfarm nonresidential secured by owner-occupied properties $0
Commercial real estate & other non-farm, non-residential $43,877
Multifamily residential real estate $1,096,104
1-4 family residential loans $105,136
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $3,868
To non-U.S. addressees $0
Loans to individuals $174
Credit card loans $0
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $174
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 $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Malaga Bank F.S.B had $1,245,361,000 of loans outstanding in 2021. $1,245,117,000 of loans were in real estate loans. $0 of loans were in development loans. $1,096,104,000 of loans were in multifamily mortgage loans. $105,136,000 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 38 $12,511 $329,237
Nonfarm, nonresidential loans - $100-250k 7 $1,078 $154,000
Nonfarm, nonresidential loans - $250k-1MM 31 $11,433 $368,806
Commercial & Industrial, US addressed loans - <$1MM 48 $2,864 $59,667
Commercial & Industrial, US addressed loans - <$100k 37 $924 $24,973
Commercial & Industrial, US addressed loans - $100-250k 9 $990 $110,000
Commercial & Industrial, US addressed loans - $250k-1MM 2 $950 $475,000