Lusitania Savings Bank Mortgage Rates, Fees & Info

Newark, NJ

LEI: 549300SXHTIGZ7X3CS43

Tax ID: 22-3381421

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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 Cash Out 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    173

    Origination Dollar Volume (All Markets)

    $46,775,000

    Employee count

    38

    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) 173 $46,775,000 $270,376 $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 173 $46,775,000 $270,376 $0 0.00%

    For 2021, Lusitania Savings Bank's most frequently originated type of loan was Conventional, with 173 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 86 $20,260,000 $235,581 $0 0.00%
    Cash Out Refi 57 $17,835,000 $312,895 $0 0.00%
    Home Purchase 15 $5,365,000 $357,667 $0 0.00%
    Home Improvement 14 $3,010,000 $215,000 $0 0.00%
    Other 1 $305,000 $305,000 $0 0.00%

    For 2021, Lusitania Savings Bank's most frequently cited loan purpose was Refi, with 86 originations. The 2nd most popular reason was Cash Out Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 173 $46,775,000 $270,376 $0 0.00%

    For 2021, Lusitania Savings Bank's most frequently cited loan duration was Other, with 173 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 97 $27,415,000 $282,629 $0 0.00%
    $100k-200k 49 $7,895,000 $161,122 $0 0.00%
    $400k-600k 14 $6,320,000 $451,429 $0 0.00%
    $100,000 or less 7 $555,000 $79,286 $0 0.00%
    $600k-1MM 5 $3,585,000 $717,000 $0 0.00%
    $1MM+ 1 $1,005,000 $1,005,000 $0 0.00%

    2021 saw Lusitania Savings Bank place emphasis on $200k-400k loans with 97 originations, totaling $27,415,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 47 $13,625,000 $289,894 $0 0.00%
    $100k-150k 43 $11,125,000 $258,721 $0 0.00%
    $250k+ 29 $10,855,000 $374,310 $0 0.00%
    $75k-100k 26 $5,660,000 $217,692 $0 0.00%
    $50k-75k 14 $2,280,000 $162,857 $0 0.00%
    $50k or less 5 $485,000 $97,000 $0 0.00%

    Lusitania Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 47 originations. The second most popular income band? $100k-150k, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 173 $46,775,000 $270,376 $0 0.00%

    Lusitania Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 173 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 156 $41,420,000 $265,513 $0 0.00%
    Not applicable 8 $2,590,000 $323,750 $0 0.00%
    Asian 5 $1,935,000 $387,000 $0 0.00%
    Other Asian 2 $530,000 $265,000 $0 0.00%
    Black 2 $300,000 $150,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.96%

    Lusitania Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.66%

    Lusitania Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 173 $46,775,000 $270,376

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    173 $46,775,000 $270,376

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Lusitania Savings Bank 107 Pulaski Street Newark, NJ 7105 Full Service B&M $179,170
    Lusitania Savings Bank 1135 Liberty Avenue Hillside, NJ 7205 Full Service B&M $39,017
    Lusitania Savings Bank 210 Ferry Street Newark, NJ 7105 Full Service B&M $62,318
    Lusitania Savings Bank 302 Frank E. Rodgers Blvd Harrison, NJ 7029 Full Service B&M $44,448

    For 2021, Lusitania Savings Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,909
    Net interest income $8,629
    Total noninterest income $412
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $0
    Trading account gains and fees $0
    Additional Noninterest Income $412
    Pre-tax net operating income $3,276
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,328
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,328
    Minority interest net income $0
    Net income $2,328
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,328

    Lusitania Savings Bank's gross interest income from loans was $8,909,000.
    Lusitania Savings Bank's net interest income from loans was $8,629,000.
    Lusitania Savings Bank's fee based income from loans was $0.
    Lusitania Savings Bank's net income from loans was $2,328,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $280
    Provision for credit losses $0
    Total noninterest expense $5,765
    Salaries and employee benefits $3,716
    Premises and equipment expense $1,050
    Additional noninterest expense $999
    Applicable income taxes $948
    Net charge-offs $0
    Cash dividends $0

    Lusitania Savings Bank's interest expense for loans was $280,000.
    Lusitania Savings Bank's payroll and benefits expense were $3,716,000.
    Lusitania Savings Bank's property, plant and equipment expenses $1,050,000.

    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 9.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 5.0%
    Credit card loans 0.0%
    Other individual loans 5.0%
    Auto loans 0.0%
    Other consumer loans 5.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $336,711
    Deposits held in domestic offices $336,711
    Deposits by Individuals, partnerships, and corporations $336,710
    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 $73,363
    Demand deposits $49,909
    Nontransaction accounts $263,347
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $159,130
    Total time deposits $104,217
    Total time and savings deposits $286,801
    Noninterest-bearing deposits $54,412
    Interest-bearing deposits $282,299
    Retail deposits $326,627
    IRAs and Keogh plan accounts $13,549
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $394,743
    Cash & Balances due from depository institutions $64,431
    Interest-bearing balances $61,648
    Total securities $143,905
    Federal funds sold & reverse repurchase $0
    Net loans and leases $168,344
    Loan and leases loss allowance $2,569
    Trading account assets $0
    Bank premises and fixed assets $3,827
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $14,236

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $394,743
    Total Liabilities $339,708
    Total deposits $336,711
    Interest-bearing deposits $282,299
    Deposits held in domestic offices $336,711
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,997

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $168,344
    Loan and leases loss allowance $2,569
    Total loans and leases (domestic) $170,913
    All real estate loans $170,108
    Real estate loans in domestic offices $170,108
    Construction and development loans $93
    Residential 1-4 family construction $0
    Other construction, all land development and other land $93
    Loans secured by nonfarm nonresidential properties $9,980
    Nonfarm nonresidential secured by owner-occupied properties $1,704
    Commercial real estate & other non-farm, non-residential $8,276
    Multifamily residential real estate $9,234
    1-4 family residential loans $150,801
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $22
    To non-U.S. addressees $0
    Loans to individuals $769
    Credit card loans $0
    Related Plans $621
    Consumer Auto Loans $0
    Other loans to individuals $148
    All other loans & leases $14
    Loans to foreign governments and official institutions $0
    Other loans $14
    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 $168,344,000 of loans outstanding in 2021. $170,108,000 of loans were in real estate loans. $93,000 of loans were in development loans. $9,234,000 of loans were in multifamily mortgage loans. $150,801,000 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 46 $8,458 $183,870
    Nonfarm, nonresidential loans - <$100k 1 $21 $21,000
    Nonfarm, nonresidential loans - $100-250k 15 $1,530 $102,000
    Nonfarm, nonresidential loans - $250k-1MM 30 $6,907 $230,233
    Commercial & Industrial, US addressed loans - <$1MM 6 $22 $3,667
    Commercial & Industrial, US addressed loans - <$100k 1 $1 $1,000
    Commercial & Industrial, US addressed loans - $100-250k 4 $21 $5,250
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $0 $0