Essa Bank & Trust Mortgage Rates, Fees & Info
Stroudsburg, PA
LEI: 549300W5E3L00UZ6F777
Tax ID: 24-0568185
5 stars
-
out of 5 stars, based on 31 reviews
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Mortgage Data
Bank Data
Overview
Essa Bank & Trust is a
smaller
bank
specializing in
Home Purchase
loans.
Essa Bank & Trust has a high proportion of conventional loans.
Their top markets include Allentown, Philadelphia, East Stroudsburg, Scranton, and Naples among others. Essa Bank & Trust has
an above average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Essa Bank & Trust is typically
an average fee
lendor.
Originations
941
Origination Dollar Volume (All Markets)
$326,655,000
Employee count
234
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ESSA Bank & Trust - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Essa Bank & Trust's average 30 year fixed rate mortgage of loans were
3.03%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.12%.
Relative Fees
Essa Bank & Trust's average total fees for a 30 year fixed rate
mortgage are $4,323.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA)
|
319
|
$116,785,000 |
$366,097 |
$3,612 |
3.13% |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA)
|
100
|
$83,600,000 |
$836,000 |
$6,696 |
3.34% |
EAST STROUDSBURG, PA (FHA|USDA|VA)
|
346
|
$75,580,000 |
$218,439 |
$3,547 |
3.09% |
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA)
|
115
|
$29,905,000 |
$260,043 |
$4,216 |
2.98% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)
|
1
|
$6,005,000 |
$6,005,000 |
$28,778 |
2.60% |
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)
|
28
|
$5,100,000 |
$182,143 |
$3,081 |
2.98% |
OCEAN CITY, NJ (FHA|USDA|VA)
|
3
|
$2,775,000 |
$925,000 |
$21,571 |
2.42% |
READING, PA (FHA|USDA|VA)
|
6
|
$1,810,000 |
$301,667 |
$6,029 |
3.03% |
Outside of Metro Areas
|
9 |
$1,735,000 |
$192,778 |
$3,866 |
2.87% |
Pottsville, PA (FHA|USDA|VA)
|
8
|
$1,130,000 |
$141,250 |
$3,525 |
3.16% |
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA)
|
2
|
$1,000,000 |
$500,000 |
$3,985 |
3.35% |
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA)
|
2
|
$900,000 |
$450,000 |
$3,552 |
2.93% |
HARRISBURG-CARLISLE, PA (FHA|USDA|VA)
|
1
|
$175,000 |
$175,000 |
$3,445 |
2.95% |
YORK-HANOVER, PA (FHA|USDA|VA)
|
1
|
$155,000 |
$155,000 |
$3,099 |
3.05% |
Essa Bank & Trust's top markets include Allentown, Philadelphia, East Stroudsburg, Scranton, and Naples among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
941 |
$326,655,000 |
$347,136 |
$3,989 |
3.11% |
For the 2021 period, Essa Bank & Trust's most frequently
originated loan type
of loans were Conventional, with 941 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Home Purchase |
388 |
$149,130,000 |
$384,356 |
$5,145 |
3.11% |
Cash Out Refi |
250 |
$63,690,000 |
$254,760 |
$3,268 |
3.10% |
Refi |
234 |
$62,670,000 |
$267,821 |
$3,678 |
2.88% |
Home Improvement |
41 |
$48,855,000 |
$1,191,585 |
$801 |
3.93% |
Other |
28 |
$2,310,000 |
$82,500 |
$1,124 |
3.72% |
For the 2021, Essa Bank & Trust's most frequently cited loan
purpose
of loans were Home Purchase, with 388
originations.
The 2nd most popular reason of loans were Cash Out Refi,
with 250 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
30 Year |
328 |
$93,690,000 |
$285,640 |
$4,323 |
3.03% |
15 Year |
177 |
$39,505,000 |
$223,192 |
$3,607 |
2.84% |
20 Year |
163 |
$30,565,000 |
$187,515 |
$3,203 |
3.26% |
30+ year |
138 |
$58,280,000 |
$422,319 |
$5,897 |
3.11% |
10 Year |
69 |
$30,605,000 |
$443,551 |
$1,647 |
3.44% |
Other |
39 |
$65,165,000 |
$1,670,897 |
$3,980 |
3.31% |
5 Year |
26 |
$8,630,000 |
$331,923 |
$0 |
3.71% |
1 Year |
1 |
$215,000 |
$215,000 |
$0 |
3.95% |
For the 2021, Essa Bank & Trust's most frequently cited loan
length
of loans were 30 Year, with 328 originations.
The 2nd most popular length of loans were 15 Year,
with 177 originations.
Origination Fees
Origination Fee |
Originations |
Total Value |
Average Loan |
$<1k |
724 |
$173,590,000 |
$239,765 |
$1k-2k |
98 |
$32,060,000 |
$327,143 |
$2k-3k |
34 |
$6,650,000 |
$195,588 |
$3k-4k |
23 |
$8,045,000 |
$349,783 |
$5k+ |
13 |
$12,035,000 |
$925,769 |
$4,323 of loans were Essa Bank & Trust's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 724 originations.
Interest Rates
Loan Rate |
Originations |
Total Value |
Average Loan |
2.5-3% |
452 |
$124,920,000 |
$276,372 |
3-4% |
390 |
$172,910,000 |
$443,359 |
<2.5% |
57 |
$15,965,000 |
$280,088 |
4-5% |
39 |
$12,735,000 |
$326,538 |
5-6% |
3 |
$125,000 |
$41,667 |
During 2021, Essa Bank & Trust's average interest
rate of loans were 3.03%, while their
most frequently originated rate bucket of loans were 2.5-3%,
with 452 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$100k-200k |
320 |
$46,840,000 |
$146,375 |
$3,177 |
3.00% |
$200k-400k |
311 |
$85,795,000 |
$275,868 |
$4,348 |
2.99% |
$100,000 or less |
143 |
$8,555,000 |
$59,825 |
$1,516 |
3.44% |
$400k-600k |
81 |
$38,815,000 |
$479,198 |
$5,679 |
3.15% |
$600k-1MM |
53 |
$40,005,000 |
$754,811 |
$7,912 |
3.23% |
$1MM+ |
33 |
$106,645,000 |
$3,231,667 |
$16,749 |
3.46% |
2021 saw Essa Bank & Trust place emphasis on
$100k-200k loans
with 320 originations, totaling
$46,840,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$100k-150k |
220 |
$49,240,000 |
$223,818 |
$3,733 |
3.02% |
$150k-250k |
179 |
$61,845,000 |
$345,503 |
$4,727 |
3.07% |
$50k-75k |
155 |
$23,245,000 |
$149,968 |
$3,029 |
3.10% |
$75k-100k |
137 |
$24,265,000 |
$177,117 |
$3,096 |
3.13% |
$250k+ |
113 |
$65,835,000 |
$582,611 |
$7,038 |
3.05% |
$50k or less |
92 |
$9,460,000 |
$102,826 |
$2,449 |
3.07% |
Essa Bank & Trust lent most frequently to those with incomes in the
$100k-150k range, with
220 originations.
The second most popular income band? $150k-250k,
with 179 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-30% |
243 |
$60,145,000 |
$247,510 |
$4,213 |
2.99% |
30-36% |
183 |
$45,555,000 |
$248,934 |
$3,803 |
3.06% |
<20% |
134 |
$38,670,000 |
$288,582 |
$4,197 |
2.95% |
43% |
36 |
$8,470,000 |
$235,278 |
$3,907 |
3.14% |
42% |
31 |
$7,945,000 |
$256,290 |
$3,415 |
3.31% |
38% |
31 |
$8,755,000 |
$282,419 |
$3,660 |
3.24% |
40% |
31 |
$6,205,000 |
$200,161 |
$3,113 |
3.10% |
39% |
29 |
$7,425,000 |
$256,034 |
$3,715 |
3.21% |
41% |
26 |
$5,850,000 |
$225,000 |
$3,510 |
3.21% |
36% |
24 |
$6,230,000 |
$259,583 |
$3,879 |
3.13% |
44% |
22 |
$8,430,000 |
$383,182 |
$4,570 |
3.10% |
37% |
22 |
$4,520,000 |
$205,455 |
$3,249 |
3.28% |
45% |
21 |
$4,255,000 |
$202,619 |
$3,152 |
3.29% |
49% |
18 |
$5,220,000 |
$290,000 |
$4,333 |
2.94% |
46% |
14 |
$6,570,000 |
$469,286 |
$6,132 |
2.96% |
47% |
13 |
$3,355,000 |
$258,077 |
$4,060 |
3.13% |
48% |
11 |
$3,235,000 |
$294,091 |
$4,967 |
3.00% |
50-60% |
7 |
$2,975,000 |
$425,000 |
$5,051 |
3.58% |
>60% |
2 |
$680,000 |
$340,000 |
$0 |
4.38% |
Essa Bank & Trust lent most frequently to those with DTI ratios
of 20-30%, with
243 originations.
The next most common DTI ratio? 30-36%,
with 183 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
White |
660 |
$174,230,000 |
$263,985 |
$4,015 |
3.07% |
Not applicable |
42 |
$90,800,000 |
$2,161,905 |
$0 |
3.82% |
Not provided |
205 |
$53,755,000 |
$262,220 |
$3,836 |
3.07% |
Asian |
11 |
$3,615,000 |
$328,636 |
$6,543 |
3.07% |
Black |
15 |
$3,285,000 |
$219,000 |
$3,529 |
3.20% |
American Indian |
2 |
$310,000 |
$155,000 |
$2,356 |
2.93% |
Other Asian |
3 |
$275,000 |
$91,667 |
$2,832 |
2.85% |
Chinese |
1 |
$275,000 |
$275,000 |
$4,942 |
2.95% |
Asian Indian |
2 |
$110,000 |
$55,000 |
$3,073 |
3.45% |
Approval Rates
Total approvals of all applications
91.72%
Essa Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination
89.68%
Essa Bank & Trust has an average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
NA |
941 |
$326,655,000 |
$347,136 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
941 |
$326,655,000 |
$347,136 |
LTV Distribution
Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-40% |
77 |
$10,935,000 |
$142,013 |
$2,297 |
3.03% |
40-60% |
189 |
$44,905,000 |
$237,593 |
$3,824 |
2.88% |
60-80% |
398 |
$181,530,000 |
$456,106 |
$4,314 |
3.15% |
80-100% |
222 |
$85,510,000 |
$385,180 |
$4,958 |
3.07% |
Over 100% |
3 |
$1,635,000 |
$545,000 |
$14,574 |
3.50% |
Under 20% |
52 |
$2,140,000 |
$41,154 |
$279 |
3.87% |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
Essa Bank & Trust |
1065 Pa Hwy 315, Suite 101 Wilkes Barre, PA 18702 |
Full Service B&M
|
$57,679 |
Essa Bank & Trust |
75 Washington Street East Stroudsburg, PA 18301 |
Full Service B&M
|
$112,434 |
Essa Bank & Trust |
76 South Main Street Nazareth, PA 18064 |
Full Service B&M
|
$24,882 |
Essa Bank & Trust |
8045 West Chester Pike Upper Darby, PA 19082 |
Full Service B&M
|
$68,349 |
Essa Bank & Trust |
975 Route 390 Cresco, PA 18326 |
Full Service B&M
|
$23,161 |
Essa Bank & Trust |
2415 Park Avenue Easton, PA 18045 |
Full Service B&M
|
$52,730 |
Essa Bank & Trust |
249 Route 940, Blakeslee Corners Blakeslee, PA 18610 |
Full Service B&M
|
$40,239 |
Essa Bank & Trust |
2826 Route 611 Tannersville, PA 18372 |
Full Service B&M
|
$114,334 |
Essa Bank & Trust |
300 Mulberry Street Scranton, PA 18503 |
Full Service B&M
|
$22,216 |
Essa Bank & Trust |
354 West Lancaster Ave Haverford, PA 19041 |
Full Service B&M
|
$30,498 |
Essa Bank & Trust |
358 South Walnut Street Bath, PA 18014 |
Full Service B&M
|
$64,188 |
Essa Bank & Trust |
418 West Broad Street Bethlehem, PA 18018 |
Full Service B&M
|
$82,802 |
Essa Bank & Trust |
48 West Marshall Road Lansdowne, PA 19050 |
Full Service B&M
|
$25,335 |
Essa Bank & Trust |
5120 Milford Road East Stroudsburg, PA 18302 |
Full Service B&M
|
$70,146 |
Essa Bank & Trust |
5580 Crawford Drive Bethlehem, PA 18018 |
Full Service B&M
|
$15,509 |
Essa Bank & Trust |
600 Hamilton Street, Suite 100 Allentown, PA 18101 |
Full Service B&M
|
$57,548 |
Essa Bank & Trust |
6302 Route 309 New Tripoli, PA 18066 |
Full Service B&M
|
$15,100 |
Essa Bank & Trust |
11 North Main Street Alburtis, PA 18011 |
Full Service B&M
|
$39,453 |
Essa Bank & Trust |
1430 Jacobsburg Road Wind Gap, PA 18091 |
Full Service B&M
|
$37,617 |
Essa Bank & Trust |
1881 Route 209 Brodheadsville, PA 18322 |
Full Service B&M
|
$124,175 |
Essa Bank & Trust |
200 Palmer Street Stroudsburg, PA 18360 |
Limited, Administrative
|
$0 |
Essa Bank & Trust |
200 Palmer Street Stroudsburg, PA 18360 |
Full Service B&M
|
$508,917 |
Essa Bank & Trust |
227 West Lancaster Ave Devon, PA 19333 |
Full Service B&M
|
$18,324 |
For 2021, Essa Bank & Trust had 23 branches.
Yearly Performance Overview
Bank Income
Essa Bank & Trust's gross interest income from loans was $58,437,000.
Essa Bank & Trust's net interest income from loans was $53,505,000.
Essa Bank & Trust's fee based income from loans was $1,462,000.
Essa Bank & Trust's net income from loans was $17,142,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$4,932 |
Provision for credit losses |
$1,800 |
Total noninterest expense |
$41,729 |
Salaries and employee benefits |
$24,874 |
Premises and equipment expense |
$4,422 |
Additional noninterest expense |
$12,433 |
Applicable income taxes |
$3,643 |
Net charge-offs |
$-269 |
Cash dividends |
$6,500 |
Essa Bank & Trust's interest expense for loans was $4,932,000.
Essa Bank & Trust's payroll and benefits expense were $24,874,000.
Essa Bank & Trust's property, plant and equipment expenses $4,422,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$1,643,590 |
Deposits held in domestic offices |
$1,643,590 |
Deposits by Individuals, partnerships, and corporations |
$1,342,711 |
Deposits by U.S. Government |
$0 |
Deposits by States and political subdivisions in the U.S. |
$281,777 |
Deposits by Commercial banks and other depository institutions in U.S. |
$19,103 |
Deposits by Banks in foreign countries |
$0 |
Deposits by Foreign governments and official institutions |
$0 |
Transaction accounts |
$779,080 |
Demand deposits |
$779,080 |
Nontransaction accounts |
$864,511 |
Money market deposit accounts (MMDAs) |
$458,741 |
Other savings deposits (excluding MMDAs) |
$206,116 |
Total time deposits |
$199,654 |
Total time and savings deposits |
$864,511 |
Noninterest-bearing deposits |
$288,485 |
Interest-bearing deposits |
$1,355,105 |
Retail deposits |
$1,375,340 |
IRAs and Keogh plan accounts |
$38,594 |
Brokered deposits |
$240,031 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$1,865,581 |
Cash & Balances due from depository institutions |
$196,088 |
Interest-bearing balances |
$186,887 |
Total securities |
$227,900 |
Federal funds sold & reverse repurchase |
$0 |
Net loans and leases |
$1,339,689 |
Loan and leases loss allowance |
$18,210 |
Trading account assets |
$1,726 |
Bank premises and fixed assets |
$19,843 |
Other real estate owned |
$193 |
Goodwill and other intangibles |
$15,088 |
All other assets |
$65,054 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$1,865,581 |
Total Liabilities |
$1,661,885 |
Total deposits |
$1,643,590 |
Interest-bearing deposits |
$1,355,105 |
Deposits held in domestic offices |
$1,643,590 |
% insured (estimated) |
$69 |
Federal funds purchased and repurchase agreements |
$0 |
Trading liabilities |
$1,735 |
Other borrowed funds |
$6,864 |
Subordinated debt |
$0 |
All other liabilities |
$9,696 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$1,339,689 |
Loan and leases loss allowance |
$18,210 |
Total loans and leases (domestic) |
$1,357,899 |
All real estate loans |
$1,252,609 |
Real estate loans in domestic offices |
$1,252,609 |
Construction and development loans |
$121,006 |
Residential 1-4 family construction |
$23,219 |
Other construction, all land development and other land |
$97,787 |
Loans secured by nonfarm nonresidential properties |
$343,411 |
Nonfarm nonresidential secured by owner-occupied properties |
$126,747 |
Commercial real estate & other non-farm, non-residential |
$216,664 |
Multifamily residential real estate |
$126,737 |
1-4 family residential loans |
$661,455 |
Farmland loans |
$0 |
Loans held in foreign offices |
$0 |
Farm loans |
$0 |
Commercial and industrial loans |
$55,746 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$11,703 |
Credit card loans |
$0 |
Related Plans |
$0 |
Consumer Auto Loans |
$10,321 |
Other loans to individuals |
$1,382 |
All other loans & leases |
$37,841 |
Loans to foreign governments and official institutions |
$0 |
Other loans |
$60 |
Loans to depository institutions and acceptances of other banks |
$0 |
Loans not secured by real estate |
$745 |
Loans secured by real estate to non-U.S. addressees |
$0 |
Restructured Loans & leases |
$4,882 |
Non 1-4 family restructured loans & leases |
$437 |
Total loans and leases (foreign) |
$0 |
ESSA Bank & Trust had $1,339,689,000 of loans outstanding in 2021. $1,252,609,000 of loans were in real estate loans.
$121,006,000 of loans were in development loans. $126,737,000 of loans were in multifamily mortgage loans.
$661,455,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $10,321,000 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 |
332 |
$76,378 |
$230,054 |
Nonfarm, nonresidential loans - <$100k |
72 |
$2,526 |
$35,083 |
Nonfarm, nonresidential loans - $100-250k |
97 |
$12,766 |
$131,608 |
Nonfarm, nonresidential loans - $250k-1MM |
163 |
$61,086 |
$374,761 |
Commercial & Industrial, US addressed loans - <$1MM |
310 |
$36,022 |
$116,200 |
Commercial & Industrial, US addressed loans - <$100k |
145 |
$3,451 |
$23,800 |
Commercial & Industrial, US addressed loans - $100-250k |
80 |
$9,540 |
$119,250 |
Commercial & Industrial, US addressed loans - $250k-1MM |
85 |
$23,031 |
$270,953 |