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 Refi and Home Purchase 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

    109

    Origination Dollar Volume (All Markets)

    $28,515,000

    Employee count

    36

    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) 109 $28,515,000 $261,606 $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 109 $28,515,000 $261,606 $0 0.00%

    For 2019, Lusitania Savings Bank's most frequently originated type of loan was Conventional, with 109 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 47 $12,335,000 $262,447 $0 0.00%
    Home Purchase 45 $13,235,000 $294,111 $0 0.00%
    Home Improvement 12 $1,890,000 $157,500 $0 0.00%
    Cash Out Refi 3 $575,000 $191,667 $0 0.00%
    Other 2 $480,000 $240,000 $0 0.00%

    For 2019, Lusitania Savings Bank's most frequently cited loan purpose was Refi, with 47 originations. The 2nd most popular reason was Home Purchase, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 109 $28,515,000 $261,606 $0 0.00%

    For 2019, Lusitania Savings Bank's most frequently cited loan duration was Other, with 109 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 59 $16,665,000 $282,458 $0 0.00%
    $100k-200k 24 $3,350,000 $139,583 $0 0.00%
    $400k-600k 15 $6,705,000 $447,000 $0 0.00%
    $100,000 or less 10 $650,000 $65,000 $0 0.00%
    $1MM+ 1 $1,145,000 $1,145,000 $0 0.00%

    2019 saw Lusitania Savings Bank place emphasis on $200k-400k loans with 59 originations, totaling $16,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 31 $8,015,000 $258,548 $0 0.00%
    $150k-250k 19 $5,105,000 $268,684 $0 0.00%
    $75k-100k 15 $2,385,000 $159,000 $0 0.00%
    $250k+ 13 $5,275,000 $405,769 $0 0.00%
    $50k-75k 7 $825,000 $117,857 $0 0.00%
    $50k or less 1 $45,000 $45,000 $0 0.00%

    Lusitania Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 31 originations. The second most popular income band? $150k-250k, with 19 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 109 $28,515,000 $261,606 $0 0.00%

    Lusitania Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 109 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 90 $22,720,000 $252,444 $0 0.00%
    Not applicable 19 $5,795,000 $305,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.64%

    Lusitania 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
    88.99%

    Lusitania Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 109 $28,515,000 $261,606

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $1,835,000 $367,000
    Single Family (1-4 Units):Site-Built 104 $26,680,000 $256,538

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Lusitania Savings Bank 107 Pulaski Street Newark, NJ 7105 Full Service B&M $156,624
    Lusitania Savings Bank 1135 Liberty Avenue Hillside, NJ 7205 Full Service B&M $27,034
    Lusitania Savings Bank 210 Ferry Street Newark, NJ 7105 Full Service B&M $53,833
    Lusitania Savings Bank 302 Frank E. Rodgers Blvd Harrison, NJ 7029 Full Service B&M $35,461

    For 2019, Lusitania Savings Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,151
    Net interest income $8,082
    Total noninterest income $418
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $0
    Trading account gains and fees $0
    Additional Noninterest Income $418
    Pre-tax net operating income $3,467
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,462
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,462
    Minority interest net income $0
    Net income $2,462
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,462

    Lusitania Savings Bank's gross interest income from loans was $10,151,000.
    Lusitania Savings Bank's net interest income from loans was $8,082,000.
    Lusitania Savings Bank's fee based income from loans was $0.
    Lusitania Savings Bank's net income from loans was $2,462,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,069
    Provision for credit losses $12
    Total noninterest expense $5,021
    Salaries and employee benefits $3,232
    Premises and equipment expense $940
    Additional noninterest expense $849
    Applicable income taxes $1,005
    Net charge-offs $14
    Cash dividends $0

    Lusitania Savings Bank's interest expense for loans was $2,069,000.
    Lusitania Savings Bank's payroll and benefits expense were $3,232,000.
    Lusitania Savings Bank's property, plant and equipment expenses $940,000.

    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 1.0%
    1-4 family residential loans 0.0%
    HELOC loans 3.0%
    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 $279,644
    Deposits held in domestic offices $279,644
    Deposits by Individuals, partnerships, and corporations $279,644
    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 $46,665
    Demand deposits $30,341
    Nontransaction accounts $232,979
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $112,797
    Total time deposits $120,182
    Total time and savings deposits $249,303
    Noninterest-bearing deposits $34,637
    Interest-bearing deposits $245,007
    Retail deposits $267,591
    IRAs and Keogh plan accounts $14,757
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $332,856
    Cash & Balances due from depository institutions $99,978
    Interest-bearing balances $97,297
    Total securities $60,480
    Federal funds sold & reverse repurchase $0
    Net loans and leases $157,656
    Loan and leases loss allowance $2,569
    Trading account assets $0
    Bank premises and fixed assets $3,890
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $10,852

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $332,856
    Total Liabilities $282,319
    Total deposits $279,644
    Interest-bearing deposits $245,007
    Deposits held in domestic offices $279,644
    % insured (estimated) $96
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,675

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $157,656
    Loan and leases loss allowance $2,569
    Total loans and leases (domestic) $160,225
    All real estate loans $158,416
    Real estate loans in domestic offices $158,416
    Construction and development loans $97
    Residential 1-4 family construction $0
    Other construction, all land development and other land $97
    Loans secured by nonfarm nonresidential properties $13,125
    Nonfarm nonresidential secured by owner-occupied properties $3,621
    Commercial real estate & other non-farm, non-residential $9,504
    Multifamily residential real estate $10,694
    1-4 family residential loans $134,500
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $49
    To non-U.S. addressees $0
    Loans to individuals $1,734
    Credit card loans $0
    Related Plans $1,450
    Consumer Auto Loans $0
    Other loans to individuals $284
    All other loans & leases $26
    Loans to foreign governments and official institutions $0
    Other loans $26
    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 $157,656,000 of loans outstanding in 2019. $158,416,000 of loans were in real estate loans. $97,000 of loans were in development loans. $10,694,000 of loans were in multifamily mortgage loans. $134,500,000 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 62 $11,367 $183,339
    Nonfarm, nonresidential loans - <$100k 3 $100 $33,333
    Nonfarm, nonresidential loans - $100-250k 20 $2,323 $116,150
    Nonfarm, nonresidential loans - $250k-1MM 39 $8,944 $229,333
    Commercial & Industrial, US addressed loans - <$1MM 7 $48 $6,857
    Commercial & Industrial, US addressed loans - <$100k 3 $27 $9,000
    Commercial & Industrial, US addressed loans - $100-250k 4 $21 $5,250