Sewickley Savings Bank Mortgage Rates, Fees & Info

Sewickley, PA

LEI: 549300TDGP6QM9ZOW721

Tax ID: 25-0787820

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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

    Sewickley Savings Bank is a smaller bank specializing in Home Purchase loans. Sewickley Savings Bank has a high proportion of conventional loans. Their top (well, only) market is Pittsburgh.

    Sewickley 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. Sewickley Savings Bank is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    13

    Origination Dollar Volume (All Markets)

    $1,195,000

    Employee count

    21

    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
    PITTSBURGH, PA (FHA|USDA|VA) 13 $1,195,000 $91,923 $7,674 4.02%
    Sewickley Savings Bank's top markets include and Pittsburgh among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 11 $1,125,000 $102,273 $7,674 4.48%
    HELOC 2 $70,000 $35,000 n/a 1.50%

    For 2018, Sewickley Savings Bank's most frequently originated type of loan was Conventional, with 11 originations. Their 2nd most popular type was HELOC, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 6 $870,000 $145,000 $10,499 4.59%
    Home Improvement 5 $205,000 $41,000 $2,988 3.75%
    Other 1 $35,000 $35,000 $0 1.50%
    Cash Out Refi 1 $85,000 $85,000 $1,061 4.50%

    For 2018, Sewickley Savings Bank's most frequently cited loan purpose was Home Purchase, with 6 originations. The 2nd most popular reason was Home Improvement, with 5 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 4 $180,000 $45,000 $2,988 2.81%
    15 Year 3 $185,000 $61,667 $4,465 4.27%
    30 Year 3 $605,000 $201,667 $11,375 4.42%
    20 Year 2 $180,000 $90,000 $0 5.25%
    10 Year 1 $45,000 $45,000 $0 4.50%

    For 2018, Sewickley Savings Bank's most frequently cited loan duration was Other, with 4 originations. The 2nd most popular length was 15 Year, with 3 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1 $35,000 $35,000

    Sewickley Savings Bank's average total fees were $11,375, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 8 $890,000 $111,250
    <2.5% 2 $70,000 $35,000
    3-4% 2 $160,000 $80,000
    5-6% 1 $75,000 $75,000

    During 2018, Sewickley Savings Bank's average interest rate for loans was 4.42%, while their most frequently originated rate bucket for loans was 4-5%, with 8 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 10 $570,000 $57,000 $4,315 3.84%
    $100k-200k 2 $270,000 $135,000 $9,469 4.75%
    $200k-400k 1 $355,000 $355,000 $19,315 4.38%

    2018 saw Sewickley Savings Bank place emphasis on $100,000 or less loans with 10 originations, totaling $570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 5 $275,000 $55,000 $5,429 3.61%
    $50k-75k 2 $50,000 $25,000 $0 3.00%
    $150k-250k 1 $355,000 $355,000 $19,315 4.38%
    $250k+ 1 $165,000 $165,000 $9,469 4.50%
    $50k or less 1 $85,000 $85,000 $5,342 4.38%

    Sewickley Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 5 originations. The second most popular income band? $50k-75k, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 6 $690,000 $115,000 $8,208 4.02%
    20-30% 3 $155,000 $51,667 $0 3.17%
    <20% 1 $85,000 $85,000 $7,870 3.80%
    38% 1 $85,000 $85,000 $5,342 4.38%

    Sewickley Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 6 originations. The next most common DTI ratio? 20-30%, with 3 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 11 $1,015,000 $92,273 $7,674 3.80%
    Not applicable 2 $180,000 $90,000 $0 5.25%

    Approval Rates

    Total approvals of all applications
    90.91%

    Sewickley Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    46.15%

    Sewickley 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
    NA 13 $1,195,000 $91,923

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 13 $1,195,000 $91,923

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $130,000 $65,000 $7,870 4.15%
    40-60% 2 $140,000 $70,000 $2,988 4.88%
    60-80% 5 $445,000 $89,000 $5,291 4.08%
    80-100% 1 $355,000 $355,000 $19,315 4.38%
    Under 20% 3 $125,000 $41,667 $0 3.17%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Sewickley Savings Bank 531 Broad Street Sewickley, PA 15143 Full Service B&M $84,735
    Sewickley Savings Bank 5701 Steubenville Pike Mckees Rocks, PA 15136 Full Service B&M $75,788
    Sewickley Savings Bank 901 4th Ave Coraopolis, PA 15108 Full Service B&M $64,336

    For 2018, Sewickley Savings Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,056
    Net interest income $5,129
    Total noninterest income $310
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $19
    Trading account gains and fees $0
    Additional Noninterest Income $291
    Pre-tax net operating income $2,268
    Securities gains (or losses, -) $11
    Income before extraordinary items $2,032
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,032
    Minority interest net income $0
    Net income $2,032
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,022

    Sewickley Savings Bank's gross interest income from loans was $8,056,000.
    Sewickley Savings Bank's net interest income from loans was $5,129,000.
    Sewickley Savings Bank's fee based income from loans was $19,000.
    Sewickley Savings Bank's net income from loans was $2,032,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,927
    Provision for credit losses $66
    Total noninterest expense $3,105
    Salaries and employee benefits $2,036
    Premises and equipment expense $257
    Additional noninterest expense $812
    Applicable income taxes $247
    Net charge-offs $0
    Cash dividends $0

    Sewickley Savings Bank's interest expense for loans was $2,927,000.
    Sewickley Savings Bank's payroll and benefits expense were $2,036,000.
    Sewickley Savings Bank's property, plant and equipment expenses $257,000.

    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 $225,734
    Deposits held in domestic offices $225,734
    Deposits by Individuals, partnerships, and corporations $223,918
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,199
    Deposits by Commercial banks and other depository institutions in U.S. $617
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $25,337
    Demand deposits $5,915
    Nontransaction accounts $200,397
    Money market deposit accounts (MMDAs) $15,607
    Other savings deposits (excluding MMDAs) $21,863
    Total time deposits $162,927
    Total time and savings deposits $219,819
    Noninterest-bearing deposits $5,915
    Interest-bearing deposits $219,819
    Retail deposits $209,261
    IRAs and Keogh plan accounts $37,403
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $315,548
    Cash & Balances due from depository institutions $26,332
    Interest-bearing balances $25,394
    Total securities $215,825
    Federal funds sold & reverse repurchase $0
    Net loans and leases $57,822
    Loan and leases loss allowance $818
    Trading account assets $0
    Bank premises and fixed assets $1,387
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $14,182

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $315,548
    Total Liabilities $228,422
    Total deposits $225,734
    Interest-bearing deposits $219,819
    Deposits held in domestic offices $225,734
    % insured (estimated) $95
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,688

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $57,822
    Loan and leases loss allowance $818
    Total loans and leases (domestic) $58,640
    All real estate loans $34,130
    Real estate loans in domestic offices $34,130
    Construction and development loans $0
    Residential 1-4 family construction $0
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $11,964
    Nonfarm nonresidential secured by owner-occupied properties $4,310
    Commercial real estate & other non-farm, non-residential $7,654
    Multifamily residential real estate $3,048
    1-4 family residential loans $13,267
    Farmland loans $5,851
    Loans held in foreign offices $0
    Farm loans $1,349
    Commercial and industrial loans $5,759
    To non-U.S. addressees $0
    Loans to individuals $208
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $208
    All other loans & leases $17,230
    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 $140
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $55
    Non 1-4 family restructured loans & leases $17
    Total loans and leases (foreign) $0

    Sewickley Savings Bank had $57,822,000 of loans outstanding in 2018. $34,130,000 of loans were in real estate loans. $0 of loans were in development loans. $3,048,000 of loans were in multifamily mortgage loans. $13,267,000 of loans were in 1-4 family mortgage loans. $1,349,000 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 17 $2,845 $167,353
    Nonfarm, nonresidential loans - <$100k 8 $277 $34,625
    Nonfarm, nonresidential loans - $100-250k 5 $742 $148,400
    Nonfarm, nonresidential loans - $250k-1MM 4 $1,826 $456,500
    Commercial & Industrial, US addressed loans - <$1MM 3 $1,199 $399,667
    Commercial & Industrial, US addressed loans - $100-250k 1 $140 $140,000
    Commercial & Industrial, US addressed loans - $250k-1MM 2 $1,059 $529,500
    Farmland loans - <$1MM 18 $3,985 $221,389
    Farmland loans - $100-250k 7 $780 $111,429
    Farmland loans - $250k-1MM 11 $3,205 $291,364
    Agriculture operations loans - <$1MM 2 $353 $176,500
    Agriculture operations loans - $100-250k 1 $63 $63,000
    Agriculture operations loans - $250k-1MM 1 $290 $290,000