Crest Savings Bank Mortgage Rates, Fees & Info

Wildwood, NJ

LEI: 549300WI4N6NVVJ1DV85

Tax ID: 21-0594467

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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

    Crest Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Crest Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Ocean City, Atlantic City, and Philadelphia among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Crest 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.

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    Originations

    175

    Origination Dollar Volume (All Markets)

    $44,685,000

    Employee count

    82

    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
    OCEAN CITY, NJ (FHA|USDA|VA) 172 $43,670,000 $253,895 $0 0.00%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $830,000 $415,000 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Crest Savings Bank's top markets include Ocean City, Atlantic City, and Philadelphia 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 175 $44,685,000 $255,343 $0 0.00%

    For 2018, Crest Savings Bank's most frequently originated type of loan was Conventional, with 175 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 99 $27,965,000 $282,475 $0 0.00%
    Refi 64 $14,930,000 $233,281 $0 0.00%
    Other 7 $995,000 $142,143 $0 0.00%
    Home Improvement 5 $795,000 $159,000 $0 0.00%

    For 2018, Crest Savings Bank's most frequently cited loan purpose was Home Purchase, with 99 originations. The 2nd most popular reason was Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 175 $44,685,000 $255,343 $0 0.00%

    For 2018, Crest Savings Bank's most frequently cited loan duration was Other, with 175 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 64 $9,150,000 $142,969 $0 0.00%
    $200k-400k 59 $16,575,000 $280,932 $0 0.00%
    $100,000 or less 23 $1,385,000 $60,217 $0 0.00%
    $400k-600k 16 $7,570,000 $473,125 $0 0.00%
    $600k-1MM 11 $7,895,000 $717,727 $0 0.00%
    $1MM+ 2 $2,110,000 $1,055,000 $0 0.00%

    2018 saw Crest Savings Bank place emphasis on $100k-200k loans with 64 originations, totaling $9,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 59 $15,075,000 $255,508 $0 0.00%
    $250k+ 31 $14,415,000 $465,000 $0 0.00%
    $100k-150k 29 $6,145,000 $211,897 $0 0.00%
    $75k-100k 20 $3,690,000 $184,500 $0 0.00%
    $50k or less 13 $1,195,000 $91,923 $0 0.00%
    $50k-75k 6 $1,130,000 $188,333 $0 0.00%

    Crest Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 59 originations. The second most popular income band? $250k+, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 175 $44,685,000 $255,343 $0 0.00%

    Crest Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 175 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 158 $41,400,000 $262,025 $0 0.00%
    Not applicable 12 $2,220,000 $185,000 $0 0.00%
    Not provided 4 $1,010,000 $252,500 $0 0.00%
    Asian 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.37%

    Crest 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 origination
    75.43%

    Crest Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 175 $44,685,000 $255,343

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 1 $85,000 $85,000
    Single Family (1-4 Units):Site-Built 174 $44,600,000 $256,322

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Crest Savings Bank 1010 Bayshore Road Villas, NJ 8251 Full Service B&M $21,861
    Crest Savings Bank 3301 Pacific Avenue Wildwood, NJ 8260 Full Service B&M $100,324
    Crest Savings Bank 3306 Bayshore Road North Cape May, NJ 8204 Full Service B&M $45,390
    Crest Savings Bank 4415 Landis Avenue Sea Isle City, NJ 8243 Full Service B&M $18,889
    Crest Savings Bank 500 New Jersey Avenue North Wildwood, NJ 8260 Full Service B&M $64,214
    Crest Savings Bank 5500 New Jersey Avenue Wildwood Crest, NJ 8260 Full Service B&M $119,124

    For 2018, Crest Savings Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,118
    Net interest income $13,979
    Total noninterest income $1,687
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $250
    Trading account gains and fees $0
    Additional Noninterest Income $1,437
    Pre-tax net operating income $3,550
    Securities gains (or losses, -) $-245
    Income before extraordinary items $2,322
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,322
    Minority interest net income $0
    Net income $2,322
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,515

    Crest Savings Bank's gross interest income from loans was $18,118,000.
    Crest Savings Bank's net interest income from loans was $13,979,000.
    Crest Savings Bank's fee based income from loans was $250,000.
    Crest Savings Bank's net income from loans was $2,322,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,139
    Provision for credit losses $240
    Total noninterest expense $11,876
    Salaries and employee benefits $6,974
    Premises and equipment expense $1,237
    Additional noninterest expense $3,665
    Applicable income taxes $983
    Net charge-offs $-8
    Cash dividends $600

    Crest Savings Bank's interest expense for loans was $4,139,000.
    Crest Savings Bank's payroll and benefits expense were $6,974,000.
    Crest Savings Bank's property, plant and equipment expenses $1,237,000.

    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 $373,821
    Deposits held in domestic offices $373,821
    Deposits by Individuals, partnerships, and corporations $259,041
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $114,780
    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 $35,102
    Demand deposits $13,049
    Nontransaction accounts $338,719
    Money market deposit accounts (MMDAs) $30,652
    Other savings deposits (excluding MMDAs) $225,289
    Total time deposits $82,778
    Total time and savings deposits $360,772
    Noninterest-bearing deposits $42,865
    Interest-bearing deposits $330,956
    Retail deposits $364,678
    IRAs and Keogh plan accounts $22,160
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $470,400
    Cash & Balances due from depository institutions $22,529
    Interest-bearing balances $17,895
    Total securities $17,377
    Federal funds sold & reverse repurchase $0
    Net loans and leases $406,782
    Loan and leases loss allowance $2,955
    Trading account assets $0
    Bank premises and fixed assets $6,072
    Other real estate owned $130
    Goodwill and other intangibles $629
    All other assets $16,881

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $470,400
    Total Liabilities $430,918
    Total deposits $373,821
    Interest-bearing deposits $330,956
    Deposits held in domestic offices $373,821
    % insured (estimated) $65
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $51,858
    Subordinated debt $0
    All other liabilities $5,239

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $406,782
    Loan and leases loss allowance $2,955
    Total loans and leases (domestic) $409,737
    All real estate loans $389,005
    Real estate loans in domestic offices $389,005
    Construction and development loans $14,988
    Residential 1-4 family construction $11,965
    Other construction, all land development and other land $3,023
    Loans secured by nonfarm nonresidential properties $82,343
    Nonfarm nonresidential secured by owner-occupied properties $21,914
    Commercial real estate & other non-farm, non-residential $60,429
    Multifamily residential real estate $3,052
    1-4 family residential loans $288,422
    Farmland loans $200
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $3,072
    To non-U.S. addressees $0
    Loans to individuals $17,322
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $17,322
    All other loans & leases $338
    Loans to foreign governments and official institutions $0
    Other loans $23
    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 $796
    Non 1-4 family restructured loans & leases $23
    Total loans and leases (foreign) $0

    Crest Savings Bank had $406,782,000 of loans outstanding in 2018. $389,005,000 of loans were in real estate loans. $14,988,000 of loans were in development loans. $3,052,000 of loans were in multifamily mortgage loans. $288,422,000 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 176 $33,467 $190,153
    Nonfarm, nonresidential loans - <$100k 37 $1,261 $34,081
    Nonfarm, nonresidential loans - $100-250k 59 $6,364 $107,864
    Nonfarm, nonresidential loans - $250k-1MM 80 $25,842 $323,025
    Commercial & Industrial, US addressed loans - <$1MM 37 $2,863 $77,378
    Commercial & Industrial, US addressed loans - <$100k 14 $107 $7,643
    Commercial & Industrial, US addressed loans - $100-250k 11 $822 $74,727
    Commercial & Industrial, US addressed loans - $250k-1MM 12 $1,934 $161,167
    Farmland loans - <$1MM 4 $200 $50,000
    Farmland loans - <$100k 2 $44 $22,000
    Farmland loans - $100-250k 2 $156 $78,000