Crest Savings Bank Mortgage Rates, Fees & Info

Wildwood, NJ

LEI: 549300WI4N6NVVJ1DV85

Tax ID: 21-0594467

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 Cash Out Refi loans. Crest Savings Bank has a high proportion of conventional loans. Their top two markets are Ocean City and Atlantic City .

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    200

    Origination Dollar Volume (All Markets)

    $65,500,000

    Employee count

    85

    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) 199 $65,165,000 $327,462 $0 0.00%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
    Crest Savings Bank's top markets include Ocean City and Atlantic City 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 200 $65,500,000 $327,500 $0 0.00%

    For 2021, Crest Savings Bank's most frequently originated type of loan was Conventional, with 200 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 117 $39,465,000 $337,308 $0 0.00%
    Cash Out Refi 45 $18,145,000 $403,222 $0 0.00%
    Refi 25 $6,375,000 $255,000 $0 0.00%
    Other 7 $1,115,000 $159,286 $0 0.00%
    Home Improvement 6 $400,000 $66,667 $0 0.00%

    For 2021, Crest Savings Bank's most frequently cited loan purpose was Home Purchase, with 117 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 200 $65,500,000 $327,500 $0 0.00%

    For 2021, Crest Savings Bank's most frequently cited loan duration was Other, with 200 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 69 $10,645,000 $154,275 $0 0.00%
    $200k-400k 61 $16,695,000 $273,689 $0 0.00%
    $600k-1MM 26 $19,280,000 $741,538 $0 0.00%
    $400k-600k 21 $9,965,000 $474,524 $0 0.00%
    $100,000 or less 16 $930,000 $58,125 $0 0.00%
    $1MM+ 7 $7,985,000 $1,140,714 $0 0.00%

    2021 saw Crest Savings Bank place emphasis on $100k-200k loans with 69 originations, totaling $10,645,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 53 $19,335,000 $364,811 $0 0.00%
    $100k-150k 43 $10,195,000 $237,093 $0 0.00%
    $250k+ 39 $20,915,000 $536,282 $0 0.00%
    $75k-100k 28 $5,780,000 $206,429 $0 0.00%
    $50k-75k 19 $3,585,000 $188,684 $0 0.00%
    $50k or less 7 $735,000 $105,000 $0 0.00%

    Crest Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 53 originations. The second most popular income band? $100k-150k, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 200 $65,500,000 $327,500 $0 0.00%

    Crest Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 200 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 180 $58,180,000 $323,222 $0 0.00%
    Not applicable 7 $4,205,000 $600,714 $0 0.00%
    Not provided 11 $2,875,000 $261,364 $0 0.00%
    Asian 2 $240,000 $120,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.39%

    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
    82.50%

    Crest Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 200 $65,500,000 $327,500

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    200 $65,500,000 $327,500

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Christensen Financial, Inc. Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Crest Savings Bank 1010 Bayshore Road Villas, NJ 8251 Full Service B&M $23,024
    Crest Savings Bank 315 Ocean Street Cape May, NJ 8204 Full Service B&M $17,673
    Crest Savings Bank 3301 Pacific Avenue Wildwood, NJ 8260 Full Service B&M $146,917
    Crest Savings Bank 3306 Bayshore Road North Cape May, NJ 8204 Full Service B&M $58,135
    Crest Savings Bank 4415 Landis Avenue Sea Isle City, NJ 8243 Full Service B&M $25,482
    Crest Savings Bank 500 New Jersey Avenue North Wildwood, NJ 8260 Full Service B&M $89,174
    Crest Savings Bank 5500 New Jersey Avenue Wildwood Crest, NJ 8260 Full Service B&M $144,391

    For 2021, Crest Savings Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,931
    Net interest income $13,926
    Total noninterest income $1,759
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $194
    Trading account gains and fees $0
    Additional Noninterest Income $1,565
    Pre-tax net operating income $2,989
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,909
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,909
    Minority interest net income $0
    Net income $1,909
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,909

    Crest Savings Bank's gross interest income from loans was $16,931,000.
    Crest Savings Bank's net interest income from loans was $13,926,000.
    Crest Savings Bank's fee based income from loans was $194,000.
    Crest Savings Bank's net income from loans was $1,909,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,005
    Provision for credit losses $-260
    Total noninterest expense $12,956
    Salaries and employee benefits $7,135
    Premises and equipment expense $1,283
    Additional noninterest expense $4,538
    Applicable income taxes $1,080
    Net charge-offs $5
    Cash dividends $300

    Crest Savings Bank's interest expense for loans was $3,005,000.
    Crest Savings Bank's payroll and benefits expense were $7,135,000.
    Crest Savings Bank's property, plant and equipment expenses $1,283,000.

    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 $524,870
    Deposits held in domestic offices $524,870
    Deposits by Individuals, partnerships, and corporations $392,320
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $132,302
    Deposits by Commercial banks and other depository institutions in U.S. $248
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $285,088
    Demand deposits $91,837
    Nontransaction accounts $239,782
    Money market deposit accounts (MMDAs) $53,405
    Other savings deposits (excluding MMDAs) $105,054
    Total time deposits $81,321
    Total time and savings deposits $433,033
    Noninterest-bearing deposits $79,365
    Interest-bearing deposits $445,505
    Retail deposits $516,515
    IRAs and Keogh plan accounts $16,615
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $604,382
    Cash & Balances due from depository institutions $125,924
    Interest-bearing balances $121,886
    Total securities $48,085
    Federal funds sold & reverse repurchase $0
    Net loans and leases $405,701
    Loan and leases loss allowance $3,571
    Trading account assets $0
    Bank premises and fixed assets $7,903
    Other real estate owned $0
    Goodwill and other intangibles $310
    All other assets $16,459

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $604,382
    Total Liabilities $561,676
    Total deposits $524,870
    Interest-bearing deposits $445,505
    Deposits held in domestic offices $524,870
    % insured (estimated) $63
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $30,865
    Subordinated debt $0
    All other liabilities $5,941

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $405,701
    Loan and leases loss allowance $3,571
    Total loans and leases (domestic) $409,272
    All real estate loans $378,661
    Real estate loans in domestic offices $378,661
    Construction and development loans $11,045
    Residential 1-4 family construction $9,831
    Other construction, all land development and other land $1,214
    Loans secured by nonfarm nonresidential properties $93,409
    Nonfarm nonresidential secured by owner-occupied properties $26,922
    Commercial real estate & other non-farm, non-residential $66,487
    Multifamily residential real estate $1,627
    1-4 family residential loans $272,279
    Farmland loans $301
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $7,261
    To non-U.S. addressees $0
    Loans to individuals $22,756
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $22,756
    All other loans & leases $594
    Loans to foreign governments and official institutions $0
    Other loans $10
    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 $625
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Crest Savings Bank had $405,701,000 of loans outstanding in 2021. $378,661,000 of loans were in real estate loans. $11,045,000 of loans were in development loans. $1,627,000 of loans were in multifamily mortgage loans. $272,279,000 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 169 $37,839 $223,899
    Nonfarm, nonresidential loans - <$100k 36 $1,190 $33,056
    Nonfarm, nonresidential loans - $100-250k 49 $4,175 $85,204
    Nonfarm, nonresidential loans - $250k-1MM 84 $32,474 $386,595
    Commercial & Industrial, US addressed loans - <$1MM 75 $5,536 $73,813
    Commercial & Industrial, US addressed loans - <$100k 42 $970 $23,095
    Commercial & Industrial, US addressed loans - $100-250k 18 $1,897 $105,389
    Commercial & Industrial, US addressed loans - $250k-1MM 15 $2,669 $177,933
    Farmland loans - <$1MM 5 $301 $60,200
    Farmland loans - <$100k 2 $95 $47,500
    Farmland loans - $100-250k 3 $206 $68,667