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 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

    136

    Origination Dollar Volume (All Markets)

    $34,540,000

    Employee count

    34

    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) 136 $34,540,000 $253,971 $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 136 $34,540,000 $253,971 $0 0.00%

    For 2020, Lusitania Savings Bank's most frequently originated type of loan was Conventional, with 136 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 75 $19,255,000 $256,733 $0 0.00%
    Cash Out Refi 22 $5,400,000 $245,455 $0 0.00%
    Home Purchase 20 $5,580,000 $279,000 $0 0.00%
    Home Improvement 18 $4,170,000 $231,667 $0 0.00%
    Other 1 $135,000 $135,000 $0 0.00%

    For 2020, Lusitania Savings Bank's most frequently cited loan purpose was Refi, with 75 originations. The 2nd most popular reason was Cash Out Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 136 $34,540,000 $253,971 $0 0.00%

    For 2020, Lusitania Savings Bank's most frequently cited loan duration was Other, with 136 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 67 $18,465,000 $275,597 $0 0.00%
    $100k-200k 48 $7,510,000 $156,458 $0 0.00%
    $400k-600k 11 $4,945,000 $449,545 $0 0.00%
    $100,000 or less 7 $415,000 $59,286 $0 0.00%
    $600k-1MM 2 $1,790,000 $895,000 $0 0.00%
    $1MM+ 1 $1,415,000 $1,415,000 $0 0.00%

    2020 saw Lusitania Savings Bank place emphasis on $200k-400k loans with 67 originations, totaling $18,465,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $10,790,000 $245,227 $0 0.00%
    $150k-250k 26 $6,430,000 $247,308 $0 0.00%
    $75k-100k 21 $4,455,000 $212,143 $0 0.00%
    $50k-75k 14 $2,290,000 $163,571 $0 0.00%
    $250k+ 11 $3,365,000 $305,909 $0 0.00%
    $50k or less 1 $115,000 $115,000 $0 0.00%

    Lusitania Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $150k-250k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 136 $34,540,000 $253,971 $0 0.00%

    Lusitania Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 136 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 116 $28,100,000 $242,241 $0 0.00%
    Not applicable 15 $5,035,000 $335,667 $0 0.00%
    Black 3 $585,000 $195,000 $0 0.00%
    Asian 1 $545,000 $545,000 $0 0.00%
    American Indian 1 $275,000 $275,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.76%

    Lusitania Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.44%

    Lusitania Savings Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 136 $34,540,000 $253,971

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $3,475,000 $695,000
    Single Family (1-4 Units):Site-Built 131 $31,065,000 $237,137

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Lusitania Savings Bank 107 Pulaski Street Newark, NJ 7105 Full Service B&M $162,299
    Lusitania Savings Bank 1135 Liberty Avenue Hillside, NJ 7205 Full Service B&M $34,375
    Lusitania Savings Bank 210 Ferry Street Newark, NJ 7105 Full Service B&M $57,367
    Lusitania Savings Bank 302 Frank E. Rodgers Blvd Harrison, NJ 7029 Full Service B&M $39,642

    For 2020, Lusitania Savings Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,569
    Net interest income $8,400
    Total noninterest income $397
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $0
    Trading account gains and fees $0
    Additional Noninterest Income $397
    Pre-tax net operating income $3,472
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,456
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,456
    Minority interest net income $0
    Net income $2,456
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,456

    Lusitania Savings Bank's gross interest income from loans was $9,569,000.
    Lusitania Savings Bank's net interest income from loans was $8,400,000.
    Lusitania Savings Bank's fee based income from loans was $0.
    Lusitania Savings Bank's net income from loans was $2,456,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,169
    Provision for credit losses $0
    Total noninterest expense $5,325
    Salaries and employee benefits $3,421
    Premises and equipment expense $1,006
    Additional noninterest expense $898
    Applicable income taxes $1,016
    Net charge-offs $0
    Cash dividends $0

    Lusitania Savings Bank's interest expense for loans was $1,169,000.
    Lusitania Savings Bank's payroll and benefits expense were $3,421,000.
    Lusitania Savings Bank's property, plant and equipment expenses $1,006,000.

    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 3.0%
    Multifamily residential loans 1.0%
    1-4 family residential loans 0.0%
    HELOC loans 5.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 4.0%
    Credit card loans 0.0%
    Other individual loans 4.0%
    Auto loans 0.0%
    Other consumer loans 4.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $308,765
    Deposits held in domestic offices $308,765
    Deposits by Individuals, partnerships, and corporations $308,765
    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 $60,935
    Demand deposits $40,785
    Nontransaction accounts $247,830
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $136,802
    Total time deposits $111,028
    Total time and savings deposits $267,980
    Noninterest-bearing deposits $45,079
    Interest-bearing deposits $263,686
    Retail deposits $296,105
    IRAs and Keogh plan accounts $14,138
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $365,552
    Cash & Balances due from depository institutions $94,768
    Interest-bearing balances $91,520
    Total securities $97,702
    Federal funds sold & reverse repurchase $0
    Net loans and leases $158,241
    Loan and leases loss allowance $2,569
    Trading account assets $0
    Bank premises and fixed assets $3,770
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $11,071

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $365,552
    Total Liabilities $311,949
    Total deposits $308,765
    Interest-bearing deposits $263,686
    Deposits held in domestic offices $308,765
    % insured (estimated) $94
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,184

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $158,241
    Loan and leases loss allowance $2,569
    Total loans and leases (domestic) $160,810
    All real estate loans $159,617
    Real estate loans in domestic offices $159,617
    Construction and development loans $320
    Residential 1-4 family construction $225
    Other construction, all land development and other land $95
    Loans secured by nonfarm nonresidential properties $12,026
    Nonfarm nonresidential secured by owner-occupied properties $2,862
    Commercial real estate & other non-farm, non-residential $9,164
    Multifamily residential real estate $10,713
    1-4 family residential loans $136,558
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $191
    To non-U.S. addressees $0
    Loans to individuals $999
    Credit card loans $0
    Related Plans $805
    Consumer Auto Loans $0
    Other loans to individuals $194
    All other loans & leases $3
    Loans to foreign governments and official institutions $0
    Other loans $3
    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 $158,241,000 of loans outstanding in 2020. $159,617,000 of loans were in real estate loans. $320,000 of loans were in development loans. $10,713,000 of loans were in multifamily mortgage loans. $136,558,000 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 52 $10,382 $199,654
    Nonfarm, nonresidential loans - <$100k 1 $25 $25,000
    Nonfarm, nonresidential loans - $100-250k 18 $1,946 $108,111
    Nonfarm, nonresidential loans - $250k-1MM 33 $8,411 $254,879
    Commercial & Industrial, US addressed loans - <$1MM 6 $191 $31,833
    Commercial & Industrial, US addressed loans - <$100k 2 $18 $9,000
    Commercial & Industrial, US addressed loans - $100-250k 4 $173 $43,250