Essa Bank & Trust Mortgage Rates, Fees & Info
Stroudsburg, PALEI: 549300W5E3L00UZ6F777
Tax ID: 24-0568185
2021 Data | 2020 Data | 2019 Data | 2018 Data
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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
941Origination Dollar Volume (All Markets)
$326,655,000Employee count
234Awards
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 applications91.72%
Essa Bank & Trust has an average approval rate.
Pick Rate
Approvals leading to origination89.68%
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
| Item | Value (in 000's) |
|---|---|
| Total interest income | $58,437 |
| Net interest income | $53,505 |
| Total noninterest income | $10,349 |
| Gross Fiduciary activities income | $1,108 |
| Service charges on deposit accounts | $1,462 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $7,779 |
| Pre-tax net operating income | $20,325 |
| Securities gains (or losses, -) | $460 |
| Income before extraordinary items | $17,142 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $17,142 |
| Minority interest net income | $0 |
| Net income | $17,142 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $16,764 |
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.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 3.0% |
| Multifamily residential loans | 3.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 2.0% |
| 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 | $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 |
