Fairfield Federal Savings And Loan Association Of Lancaster Mortgage Rates, Fees & Info

Lancaster, OH

LEI: 549300SICEH17XJOAN86

Tax ID: 31-4176480

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Mortgage Data

Bank Data

Review & Overview

Fairfield Federal Savings And Loan Association Of Lancaster is a smaller mortgage company specializing in Home Purchase and Refi loans. Fairfield Federal Savings And Loan Association Of Lancaster has a high proportion of conventional loans. Their top (well, only) market is Columbus.

Fairfield Federal Savings And Loan Association Of Lancaster has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

198

Origination Dollar Volume (All Markets)

$33,020,000

Employee count

51

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
COLUMBUS, OH (FHA|USDA|VA) 198 $33,020,000 $166,768 $0 0.00%
Fairfield Federal Savings And Loan Association Of Lancaster's top markets include and Columbus among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 198 $33,020,000 $166,768 $0 0.00%

    For 2019, Fairfield Federal Savings And Loan Association Of Lancaster's most frequently originated type of loan was Conventional, with 198 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 99 $17,275,000 $174,495 $0 0.00%
    Refi 97 $15,595,000 $160,773 $0 0.00%
    Home Improvement 1 $55,000 $55,000 $0 0.00%
    Other 1 $95,000 $95,000 $0 0.00%

    For 2019, Fairfield Federal Savings And Loan Association Of Lancaster's most frequently cited loan purpose was Home Purchase, with 99 originations. The 2nd most popular reason was Refi, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 198 $33,020,000 $166,768 $0 0.00%

    For 2019, Fairfield Federal Savings And Loan Association Of Lancaster's most frequently cited loan duration was Other, with 198 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 98 $13,850,000 $141,327 $0 0.00%
    $100,000 or less 50 $3,390,000 $67,800 $0 0.00%
    $200k-400k 42 $12,060,000 $287,143 $0 0.00%
    $400k-600k 8 $3,720,000 $465,000 $0 0.00%

    2019 saw Fairfield Federal Savings And Loan Association Of Lancaster place emphasis on $100k-200k loans with 98 originations, totaling $13,850,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 47 $9,475,000 $201,596 $0 0.00%
    $50k-75k 41 $4,855,000 $118,415 $0 0.00%
    $75k-100k 36 $5,060,000 $140,556 $0 0.00%
    $50k or less 32 $2,850,000 $89,063 $0 0.00%
    $150k-250k 21 $7,065,000 $336,429 $0 0.00%
    $250k+ 2 $820,000 $410,000 $0 0.00%

    Fairfield Federal Savings And Loan Association Of Lancaster lent most frequently to those with incomes in the $100k-150k range, with 47 originations. The second most popular income band? $50k-75k, with 41 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 198 $33,020,000 $166,768 $0 0.00%

    Fairfield Federal Savings And Loan Association Of Lancaster lent most frequently to those with DTI ratios of Exempt%, with 198 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 176 $29,430,000 $167,216 $0 0.00%
    Not applicable 18 $2,640,000 $146,667 $0 0.00%
    Black 2 $600,000 $300,000 $0 0.00%
    Asian 1 $295,000 $295,000 $0 0.00%
    Filipino 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.47%

    Fairfield Federal Savings And Loan Association Of Lancaster has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.22%

    Fairfield Federal Savings And Loan Association Of Lancaster has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 198 $33,020,000 $166,768

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $315,000 $105,000
    Single Family (1-4 Units):Site-Built 195 $32,705,000 $167,718

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Fairfield Federal Savings and Loan Association of Lancaster 1100 W Fair Ave Lancaster, OH 43130 Full Service B&M $57,566
    Fairfield Federal Savings and Loan Association of Lancaster 111 East Main Street Lancaster, OH 43130 Full Service B&M $121,569
    Fairfield Federal Savings and Loan Association of Lancaster 1515 Cross Creeks Blvd Pickerington, OH 43147 Full Service B&M $49,870

    For 2019, Fairfield Federal Savings And Loan Association Of Lancaster had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,972
    Net interest income $8,549
    Total noninterest income $491
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $303
    Trading account gains and fees $0
    Additional Noninterest Income $188
    Pre-tax net operating income $1,615
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,288
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,288
    Minority interest net income $0
    Net income $1,288
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,288

    Fairfield Federal Savings And Loan Association Of Lancaster's gross interest income from loans was $10,972,000.
    Fairfield Federal Savings And Loan Association Of Lancaster's net interest income from loans was $8,549,000.
    Fairfield Federal Savings And Loan Association Of Lancaster's fee based income from loans was $303,000.
    Fairfield Federal Savings And Loan Association Of Lancaster's net income from loans was $1,288,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,423
    Provision for credit losses $51
    Total noninterest expense $7,374
    Salaries and employee benefits $4,451
    Premises and equipment expense $738
    Additional noninterest expense $2,185
    Applicable income taxes $327
    Net charge-offs $62
    Cash dividends $0

    Fairfield Federal Savings And Loan Association Of Lancaster's interest expense for loans was $2,423,000.
    Fairfield Federal Savings And Loan Association Of Lancaster's payroll and benefits expense were $4,451,000.
    Fairfield Federal Savings And Loan Association Of Lancaster's property, plant and equipment expenses $738,000.

    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 $229,540
    Deposits held in domestic offices $229,540
    Deposits by Individuals, partnerships, and corporations $227,677
    Deposits by U.S. Government $114
    Deposits by States and political subdivisions in the U.S. $1,749
    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 $40,431
    Demand deposits $6,386
    Nontransaction accounts $189,109
    Money market deposit accounts (MMDAs) $19,358
    Other savings deposits (excluding MMDAs) $52,680
    Total time deposits $117,071
    Total time and savings deposits $223,154
    Noninterest-bearing deposits $13,133
    Interest-bearing deposits $216,407
    Retail deposits $218,986
    IRAs and Keogh plan accounts $34,895
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $264,280
    Cash & Balances due from depository institutions $13,828
    Interest-bearing balances $12,478
    Total securities $7,027
    Federal funds sold & reverse repurchase $0
    Net loans and leases $234,429
    Loan and leases loss allowance $705
    Trading account assets $0
    Bank premises and fixed assets $2,833
    Other real estate owned $57
    Goodwill and other intangibles $0
    All other assets $6,106

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $264,280
    Total Liabilities $233,677
    Total deposits $229,540
    Interest-bearing deposits $216,407
    Deposits held in domestic offices $229,540
    % insured (estimated) $97
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,530
    Subordinated debt $0
    All other liabilities $607

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $234,429
    Loan and leases loss allowance $705
    Total loans and leases (domestic) $235,134
    All real estate loans $234,086
    Real estate loans in domestic offices $234,086
    Construction and development loans $1,420
    Residential 1-4 family construction $1,297
    Other construction, all land development and other land $123
    Loans secured by nonfarm nonresidential properties $4,325
    Nonfarm nonresidential secured by owner-occupied properties $2,182
    Commercial real estate & other non-farm, non-residential $2,143
    Multifamily residential real estate $4,285
    1-4 family residential loans $224,056
    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 $1,048
    Credit card loans $1,048
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $0
    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 $1,290
    Non 1-4 family restructured loans & leases $206
    Total loans and leases (foreign) $0

    Fairfield Federal Savings and Loan Association of Lancaster had $234,429,000 of loans outstanding in 2019. $234,086,000 of loans were in real estate loans. $1,420,000 of loans were in development loans. $4,285,000 of loans were in multifamily mortgage loans. $224,056,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,048,000 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 13 $1,696 $130,462
    Nonfarm, nonresidential loans - <$100k 4 $253 $63,250
    Nonfarm, nonresidential loans - $100-250k 6 $616 $102,667
    Nonfarm, nonresidential loans - $250k-1MM 3 $827 $275,667