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, Vineland, Atlantic City, and Philadelphia among others. We have data for 4 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

    207

    Origination Dollar Volume (All Markets)

    $54,695,000

    Employee count

    87

    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) 202 $53,620,000 $265,446 $0 0.00%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 2 $470,000 $235,000 $0 0.00%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $380,000 $190,000 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Crest Savings Bank's top markets include Ocean City, Vineland, 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 207 $54,695,000 $264,227 $0 0.00%

    For 2019, Crest Savings Bank's most frequently originated type of loan was Conventional, with 207 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 113 $28,455,000 $251,814 $0 0.00%
    Refi 78 $24,890,000 $319,103 $0 0.00%
    Other 12 $660,000 $55,000 $0 0.00%
    Home Improvement 3 $175,000 $58,333 $0 0.00%
    Cash Out Refi 1 $515,000 $515,000 $0 0.00%

    For 2019, Crest Savings Bank's most frequently cited loan purpose was Home Purchase, with 113 originations. The 2nd most popular reason was Refi, with 78 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 207 $54,695,000 $264,227 $0 0.00%

    For 2019, Crest Savings Bank's most frequently cited loan duration was Other, with 207 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 74 $21,460,000 $290,000 $0 0.00%
    $100k-200k 54 $8,180,000 $151,481 $0 0.00%
    $100,000 or less 45 $2,885,000 $64,111 $0 0.00%
    $400k-600k 17 $8,715,000 $512,647 $0 0.00%
    $600k-1MM 14 $10,230,000 $730,714 $0 0.00%
    $1MM+ 3 $3,225,000 $1,075,000 $0 0.00%

    2019 saw Crest Savings Bank place emphasis on $200k-400k loans with 74 originations, totaling $21,460,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 64 $19,800,000 $309,375 $0 0.00%
    $250k+ 35 $15,405,000 $440,143 $0 0.00%
    $100k-150k 33 $4,565,000 $138,333 $0 0.00%
    $50k-75k 25 $2,865,000 $114,600 $0 0.00%
    $75k-100k 22 $5,470,000 $248,636 $0 0.00%
    $50k or less 13 $1,435,000 $110,385 $0 0.00%

    Crest Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 64 originations. The second most popular income band? $250k+, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 207 $54,695,000 $264,227 $0 0.00%

    Crest Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 207 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 186 $48,610,000 $261,344 $0 0.00%
    Not applicable 10 $3,710,000 $371,000 $0 0.00%
    Asian 3 $1,115,000 $371,667 $0 0.00%
    Not provided 7 $1,025,000 $146,429 $0 0.00%
    Native Hawaiian or Islander 1 $235,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.13%

    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
    83.09%

    Crest Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 207 $54,695,000 $264,227

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $790,000 $395,000
    Single Family (1-4 Units):Site-Built 205 $53,905,000 $262,951

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Crest Savings Bank 1010 Bayshore Road Villas, NJ 8251 Full Service B&M $21,344
    Crest Savings Bank 315 Ocean Street Cape May, NJ 8204 Full Service B&M $6,022
    Crest Savings Bank 3301 Pacific Avenue Wildwood, NJ 8260 Full Service B&M $97,496
    Crest Savings Bank 3306 Bayshore Road North Cape May, NJ 8204 Full Service B&M $44,587
    Crest Savings Bank 4415 Landis Avenue Sea Isle City, NJ 8243 Full Service B&M $18,976
    Crest Savings Bank 500 New Jersey Avenue North Wildwood, NJ 8260 Full Service B&M $71,802
    Crest Savings Bank 5500 New Jersey Avenue Wildwood Crest, NJ 8260 Full Service B&M $117,081

    For 2019, Crest Savings Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,388
    Net interest income $13,598
    Total noninterest income $1,748
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $263
    Trading account gains and fees $0
    Additional Noninterest Income $1,485
    Pre-tax net operating income $2,435
    Securities gains (or losses, -) $-93
    Income before extraordinary items $1,698
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,698
    Minority interest net income $0
    Net income $1,698
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,771

    Crest Savings Bank's gross interest income from loans was $18,388,000.
    Crest Savings Bank's net interest income from loans was $13,598,000.
    Crest Savings Bank's fee based income from loans was $263,000.
    Crest Savings Bank's net income from loans was $1,698,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,790
    Provision for credit losses $150
    Total noninterest expense $12,761
    Salaries and employee benefits $7,528
    Premises and equipment expense $1,327
    Additional noninterest expense $3,906
    Applicable income taxes $644
    Net charge-offs $-9
    Cash dividends $525

    Crest Savings Bank's interest expense for loans was $4,790,000.
    Crest Savings Bank's payroll and benefits expense were $7,528,000.
    Crest Savings Bank's property, plant and equipment expenses $1,327,000.

    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 $367,141
    Deposits held in domestic offices $367,141
    Deposits by Individuals, partnerships, and corporations $259,949
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $107,192
    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 $32,682
    Demand deposits $11,492
    Nontransaction accounts $334,459
    Money market deposit accounts (MMDAs) $34,701
    Other savings deposits (excluding MMDAs) $217,562
    Total time deposits $82,197
    Total time and savings deposits $355,649
    Noninterest-bearing deposits $40,169
    Interest-bearing deposits $326,972
    Retail deposits $357,585
    IRAs and Keogh plan accounts $21,366
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $462,399
    Cash & Balances due from depository institutions $12,721
    Interest-bearing balances $8,423
    Total securities $12,431
    Federal funds sold & reverse repurchase $0
    Net loans and leases $413,113
    Loan and leases loss allowance $3,114
    Trading account assets $0
    Bank premises and fixed assets $6,459
    Other real estate owned $417
    Goodwill and other intangibles $595
    All other assets $16,663

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $462,399
    Total Liabilities $422,719
    Total deposits $367,141
    Interest-bearing deposits $326,972
    Deposits held in domestic offices $367,141
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $49,623
    Subordinated debt $0
    All other liabilities $5,955

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $413,113
    Loan and leases loss allowance $3,114
    Total loans and leases (domestic) $416,227
    All real estate loans $393,829
    Real estate loans in domestic offices $393,829
    Construction and development loans $13,100
    Residential 1-4 family construction $9,356
    Other construction, all land development and other land $3,744
    Loans secured by nonfarm nonresidential properties $92,822
    Nonfarm nonresidential secured by owner-occupied properties $21,759
    Commercial real estate & other non-farm, non-residential $71,063
    Multifamily residential real estate $2,463
    1-4 family residential loans $285,330
    Farmland loans $114
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,733
    To non-U.S. addressees $0
    Loans to individuals $19,368
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $19,368
    All other loans & leases $297
    Loans to foreign governments and official institutions $0
    Other loans $14
    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 $711
    Non 1-4 family restructured loans & leases $17
    Total loans and leases (foreign) $0

    Crest Savings Bank had $413,113,000 of loans outstanding in 2019. $393,829,000 of loans were in real estate loans. $13,100,000 of loans were in development loans. $2,463,000 of loans were in multifamily mortgage loans. $285,330,000 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 174 $36,612 $210,414
    Nonfarm, nonresidential loans - <$100k 39 $1,362 $34,923
    Nonfarm, nonresidential loans - $100-250k 50 $4,997 $99,940
    Nonfarm, nonresidential loans - $250k-1MM 85 $30,253 $355,918
    Commercial & Industrial, US addressed loans - <$1MM 36 $2,287 $63,528
    Commercial & Industrial, US addressed loans - <$100k 14 $188 $13,429
    Commercial & Industrial, US addressed loans - $100-250k 11 $564 $51,273
    Commercial & Industrial, US addressed loans - $250k-1MM 11 $1,535 $139,545
    Farmland loans - <$1MM 3 $114 $38,000
    Farmland loans - <$100k 1 $38 $38,000
    Farmland loans - $100-250k 2 $76 $38,000