Lusitania Savings Bank Mortgage Rates, Fees & Info

Newark, NJ

LEI: 549300SXHTIGZ7X3CS43

Tax ID: 22-3381421

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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

    Lusitania Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Lusitania Savings Bank has a high proportion of conventional loans. Their top (well, only) market is New York.

    Lusitania 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

    104

    Origination Dollar Volume (All Markets)

    $24,720,000

    Employee count

    35

    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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 104 $24,720,000 $237,692 $0 0.00%
    Lusitania Savings Bank's top markets include and New York among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 104 $24,720,000 $237,692 $0 0.00%

    For 2018, Lusitania Savings Bank's most frequently originated type of loan was Conventional, with 104 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 40 $11,540,000 $288,500 $0 0.00%
    Refi 35 $7,845,000 $224,143 $0 0.00%
    Home Improvement 17 $2,715,000 $159,706 $0 0.00%
    Cash Out Refi 11 $2,265,000 $205,909 $0 0.00%
    Other 1 $355,000 $355,000 $0 0.00%

    For 2018, Lusitania Savings Bank's most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 104 $24,720,000 $237,692 $0 0.00%

    For 2018, Lusitania Savings Bank's most frequently cited loan duration was Other, with 104 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 58 $16,540,000 $285,172 $0 0.00%
    $100k-200k 33 $5,145,000 $155,909 $0 0.00%
    $100,000 or less 7 $455,000 $65,000 $0 0.00%
    $400k-600k 6 $2,580,000 $430,000 $0 0.00%

    2018 saw Lusitania Savings Bank place emphasis on $200k-400k loans with 58 originations, totaling $16,540,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 30 $7,080,000 $236,000 $0 0.00%
    $75k-100k 18 $3,300,000 $183,333 $0 0.00%
    $150k-250k 17 $4,585,000 $269,706 $0 0.00%
    $250k+ 10 $2,730,000 $273,000 $0 0.00%
    $50k-75k 5 $1,085,000 $217,000 $0 0.00%
    $50k or less 3 $375,000 $125,000 $0 0.00%

    Lusitania Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 30 originations. The second most popular income band? $75k-100k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 104 $24,720,000 $237,692 $0 0.00%

    Lusitania Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 84 $19,240,000 $229,048 $0 0.00%
    Not applicable 16 $4,430,000 $276,875 $0 0.00%
    Asian 3 $785,000 $261,667 $0 0.00%
    Black 1 $265,000 $265,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.35%

    Lusitania Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.42%

    Lusitania Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 104 $24,720,000 $237,692

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $1,645,000 $235,000
    Single Family (1-4 Units):Site-Built 97 $23,075,000 $237,887

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Lusitania Savings Bank 107 Pulaski Street Newark, NJ 7105 Full Service B&M $149,983
    Lusitania Savings Bank 1135 Liberty Avenue Hillside, NJ 7205 Full Service B&M $25,444
    Lusitania Savings Bank 210 Ferry Street Newark, NJ 7105 Full Service B&M $54,459
    Lusitania Savings Bank 302 Frank E. Rodgers Blvd Harrison, NJ 7029 Full Service B&M $34,416

    For 2018, Lusitania Savings Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,510
    Net interest income $8,125
    Total noninterest income $544
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $0
    Trading account gains and fees $0
    Additional Noninterest Income $544
    Pre-tax net operating income $3,671
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,607
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,607
    Minority interest net income $0
    Net income $2,607
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,607

    Lusitania Savings Bank's gross interest income from loans was $9,510,000.
    Lusitania Savings Bank's net interest income from loans was $8,125,000.
    Lusitania Savings Bank's fee based income from loans was $0.
    Lusitania Savings Bank's net income from loans was $2,607,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,385
    Provision for credit losses $75
    Total noninterest expense $4,923
    Salaries and employee benefits $3,093
    Premises and equipment expense $914
    Additional noninterest expense $916
    Applicable income taxes $1,064
    Net charge-offs $0
    Cash dividends $0

    Lusitania Savings Bank's interest expense for loans was $1,385,000.
    Lusitania Savings Bank's payroll and benefits expense were $3,093,000.
    Lusitania Savings Bank's property, plant and equipment expenses $914,000.

    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 5.0%
    Multifamily residential loans 2.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 3.0%
    Credit card loans 0.0%
    Other individual loans 3.0%
    Auto loans 0.0%
    Other consumer loans 3.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $265,338
    Deposits held in domestic offices $265,338
    Deposits by Individuals, partnerships, and corporations $265,338
    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 $43,688
    Demand deposits $27,983
    Nontransaction accounts $221,650
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $113,194
    Total time deposits $108,456
    Total time and savings deposits $237,355
    Noninterest-bearing deposits $32,105
    Interest-bearing deposits $233,233
    Retail deposits $257,935
    IRAs and Keogh plan accounts $14,909
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $315,233
    Cash & Balances due from depository institutions $94,638
    Interest-bearing balances $91,116
    Total securities $49,297
    Federal funds sold & reverse repurchase $0
    Net loans and leases $157,033
    Loan and leases loss allowance $2,571
    Trading account assets $0
    Bank premises and fixed assets $3,834
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $10,431

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $315,233
    Total Liabilities $267,535
    Total deposits $265,338
    Interest-bearing deposits $233,233
    Deposits held in domestic offices $265,338
    % insured (estimated) $96
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,197

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $157,033
    Loan and leases loss allowance $2,571
    Total loans and leases (domestic) $159,604
    All real estate loans $157,413
    Real estate loans in domestic offices $157,413
    Construction and development loans $99
    Residential 1-4 family construction $0
    Other construction, all land development and other land $99
    Loans secured by nonfarm nonresidential properties $15,154
    Nonfarm nonresidential secured by owner-occupied properties $4,399
    Commercial real estate & other non-farm, non-residential $10,755
    Multifamily residential real estate $12,531
    1-4 family residential loans $129,629
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $322
    To non-U.S. addressees $0
    Loans to individuals $1,857
    Credit card loans $0
    Related Plans $1,654
    Consumer Auto Loans $1
    Other loans to individuals $202
    All other loans & leases $12
    Loans to foreign governments and official institutions $0
    Other loans $12
    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

    Lusitania Savings Bank had $157,033,000 of loans outstanding in 2018. $157,413,000 of loans were in real estate loans. $99,000 of loans were in development loans. $12,531,000 of loans were in multifamily mortgage loans. $129,629,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,000 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 72 $15,154 $210,472
    Nonfarm, nonresidential loans - <$100k 72 $15,154 $210,472
    Commercial & Industrial, US addressed loans - <$1MM 9 $322 $35,778
    Commercial & Industrial, US addressed loans - <$100k 9 $322 $35,778