Sewickley Savings Bank Mortgage Rates, Fees & Info
Sewickley, PALEI: 549300TDGP6QM9ZOW721
Tax ID: 25-0787820
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Mortgage Data
Bank Data
Review & Overview
Sewickley Savings Bank is a smaller bank specializing in Home Improvement and Refi 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 low 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.
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Originations
22Origination Dollar Volume (All Markets)
$1,320,000Employee count
22Top 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) | 22 | $1,320,000 | $60,000 | $2,136 | 4.85% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 21 | $1,235,000 | $58,810 | $2,136 | 4.84% |
| HELOC | 1 | $85,000 | $85,000 | n/a | 5.00% |
For 2019, Sewickley Savings Bank's most frequently originated type of loan was Conventional, with 21 originations. Their 2nd most popular type was HELOC, with 1 originations.
Loan Reason
For 2019, Sewickley Savings Bank's most frequently cited loan purpose was Home Improvement, with 12 originations. The 2nd most popular reason was Refi, with 4 originations.
Loan Duration/Length
For 2019, Sewickley Savings Bank's most frequently cited loan duration was Other, with 9 originations. The 2nd most popular length was 10 Year, with 6 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1 | $15,000 | $15,000 |
Sewickley Savings Bank's average total fees were $2,749, 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 |
|---|---|---|---|
| 3-4% | 7 | $425,000 | $60,714 |
| 4-5% | 7 | $465,000 | $66,429 |
| 5-6% | 6 | $240,000 | $40,000 |
| 6-7% | 2 | $190,000 | $95,000 |
During 2019, Sewickley Savings Bank's average interest rate for loans was 4.13%, while their most frequently originated rate bucket for loans was 3-4%, with 7 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100,000 or less | 19 | $955,000 | $50,263 | $1,830 | 4.76% |
| $100k-200k | 3 | $365,000 | $121,667 | $2,749 | 5.38% |
2019 saw Sewickley Savings Bank place emphasis on $100,000 or less loans with 19 originations, totaling $955,000 in origination value.
Applicant Income
Sewickley Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 8 originations. The second most popular income band? $50k-75k, with 4 originations.
Applicant Debt to Income Ratio
Sewickley Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 11 originations. The next most common DTI ratio? <20%, with 4 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.10%
Sewickley 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 origination81.82%
Sewickley Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1034.77 | 1 | $125,000 | $125,000 |
| 906.0 | 1 | $65,000 | $65,000 |
| 960.0 | 1 | $65,000 | $65,000 |
| NA | 19 | $1,065,000 | $56,053 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 22 | $1,320,000 | $60,000 |
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Sewickley Savings Bank | 531 Broad Street Sewickley, PA 15143 | Full Service B&M | $85,456 |
| Sewickley Savings Bank | 5701 Steubenville Pike Mckees Rocks, PA 15136 | Full Service B&M | $80,074 |
| Sewickley Savings Bank | 901 4th Ave Coraopolis, PA 15108 | Full Service B&M | $61,594 |
For 2019, Sewickley Savings Bank had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $8,804 |
| Net interest income | $5,035 |
| Total noninterest income | $328 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $20 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $308 |
| Pre-tax net operating income | $2,160 |
| Securities gains (or losses, -) | $180 |
| Income before extraordinary items | $2,087 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,087 |
| Minority interest net income | $0 |
| Net income | $2,087 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,926 |
Sewickley Savings Bank's gross interest income from loans was $8,804,000.
Sewickley Savings Bank's net interest income from loans was $5,035,000.
Sewickley Savings Bank's fee based income from loans was $20,000.
Sewickley Savings Bank's net income from loans was $2,087,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,769 |
| Provision for credit losses | $30 |
| Total noninterest expense | $3,173 |
| Salaries and employee benefits | $2,117 |
| Premises and equipment expense | $259 |
| Additional noninterest expense | $797 |
| Applicable income taxes | $253 |
| Net charge-offs | $0 |
| Cash dividends | $0 |
Sewickley Savings Bank's interest expense for loans was $3,769,000.
Sewickley Savings Bank's payroll and benefits expense were $2,117,000.
Sewickley Savings Bank's property, plant and equipment expenses $259,000.
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 | $219,642 |
| Deposits held in domestic offices | $219,642 |
| Deposits by Individuals, partnerships, and corporations | $218,004 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $1,015 |
| Deposits by Commercial banks and other depository institutions in U.S. | $623 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $22,270 |
| Demand deposits | $5,342 |
| Nontransaction accounts | $197,372 |
| Money market deposit accounts (MMDAs) | $13,629 |
| Other savings deposits (excluding MMDAs) | $20,950 |
| Total time deposits | $162,792 |
| Total time and savings deposits | $214,300 |
| Noninterest-bearing deposits | $5,342 |
| Interest-bearing deposits | $214,300 |
| Retail deposits | $203,362 |
| IRAs and Keogh plan accounts | $36,402 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $314,472 |
| Cash & Balances due from depository institutions | $35,561 |
| Interest-bearing balances | $34,770 |
| Total securities | $202,704 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $61,554 |
| Loan and leases loss allowance | $848 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,441 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $13,212 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $314,472 |
| Total Liabilities | $222,916 |
| Total deposits | $219,642 |
| Interest-bearing deposits | $214,300 |
| Deposits held in domestic offices | $219,642 |
| % insured (estimated) | $96 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $3,274 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $61,554 |
| Loan and leases loss allowance | $848 |
| Total loans and leases (domestic) | $62,402 |
| All real estate loans | $42,090 |
| Real estate loans in domestic offices | $42,090 |
| Construction and development loans | $1,342 |
| Residential 1-4 family construction | $0 |
| Other construction, all land development and other land | $1,342 |
| Loans secured by nonfarm nonresidential properties | $13,734 |
| Nonfarm nonresidential secured by owner-occupied properties | $4,164 |
| Commercial real estate & other non-farm, non-residential | $9,570 |
| Multifamily residential real estate | $2,942 |
| 1-4 family residential loans | $19,371 |
| Farmland loans | $4,701 |
| Loans held in foreign offices | $0 |
| Farm loans | $669 |
| Commercial and industrial loans | $5,517 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $165 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $165 |
| All other loans & leases | $14,000 |
| 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 | $128 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $36 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Sewickley Savings Bank had $61,554,000 of loans outstanding in 2019. $42,090,000 of loans were in real estate loans. $1,342,000 of loans were in development loans. $2,942,000 of loans were in multifamily mortgage loans. $19,371,000 of loans were in 1-4 family mortgage loans. $669,000 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 | 18 | $2,828 | $157,111 |
| Nonfarm, nonresidential loans - <$100k | 8 | $192 | $24,000 |
| Nonfarm, nonresidential loans - $100-250k | 6 | $902 | $150,333 |
| Nonfarm, nonresidential loans - $250k-1MM | 4 | $1,734 | $433,500 |
| Commercial & Industrial, US addressed loans - <$1MM | 3 | $1,077 | $359,000 |
| Commercial & Industrial, US addressed loans - $100-250k | 1 | $128 | $128,000 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 2 | $949 | $474,500 |
| Farmland loans - <$1MM | 16 | $3,075 | $192,188 |
| Farmland loans - $100-250k | 6 | $530 | $88,333 |
| Farmland loans - $250k-1MM | 10 | $2,545 | $254,500 |
| Agriculture operations loans - <$1MM | 1 | $52 | $52,000 |
| Agriculture operations loans - $100-250k | 1 | $52 | $52,000 |