Wayne Savings Community Bank Mortgage Rates, Fees & Info

Wooster, OH

LEI: 549300WLYZ63QPFTDP84

Tax ID: 34-0606020

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

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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

    Wayne Savings Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Wayne Savings Community Bank has a high proportion of conventional loans. Their top markets by origination volume include: Wooster, Cleveland, Canton, Salem, and Youngstown among others. We have data for 15 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Wayne Savings Community Bank has an above average approval rate when compared to the average across all lenders. They have an above 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

    349

    Origination Dollar Volume (All Markets)

    $65,485,000

    Employee count

    97

    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
    Wooster, OH (FHA|USDA|VA) 153 $27,085,000 $177,026 $0 0.00%
    CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 36 $9,610,000 $266,944 $0 0.00%
    CANTON-MASSILLON, OH (FHA|USDA|VA) 41 $6,255,000 $152,561 $0 0.00%
    Salem, OH (FHA|USDA|VA) 25 $5,425,000 $217,000 $0 0.00%
    YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 24 $5,010,000 $208,750 $0 0.00%
    Ashland, OH (FHA|USDA|VA) 28 $3,960,000 $141,429 $0 0.00%
    AKRON, OH (FHA|USDA|VA) 17 $3,115,000 $183,235 $0 0.00%
    Outside of Metro Areas 15 $2,485,000 $165,667 $0 0.00%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $815,000 $815,000 $0 0.00%
    New Philadelphia-Dover, OH (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
    MOBILE, AL (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
    MANSFIELD, OH (FHA|USDA|VA) 3 $355,000 $118,333 $0 0.00%
    Coshocton, OH (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    Norwalk, OH (FHA|USDA|VA) 2 $160,000 $80,000 $0 0.00%
    Ashtabula, OH (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Wayne Savings Community Bank's top markets include Wooster, Cleveland, Canton, Salem, and Youngstown among others.

    Their top states include:
  • Ohio (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Alabama (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 349 $65,485,000 $187,636 $0 0.00%

    For 2021, Wayne Savings Community Bank's most frequently originated type of loan was Conventional, with 349 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 152 $33,570,000 $220,855 $0 0.00%
    Refi 99 $16,765,000 $169,343 $0 0.00%
    Cash Out Refi 86 $13,000,000 $151,163 $0 0.00%
    Home Improvement 8 $1,370,000 $171,250 $0 0.00%
    Other 4 $780,000 $195,000 $0 0.00%

    For 2021, Wayne Savings Community Bank's most frequently cited loan purpose was Home Purchase, with 152 originations. The 2nd most popular reason was Refi, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 349 $65,485,000 $187,636 $0 0.00%

    For 2021, Wayne Savings Community Bank's most frequently cited loan duration was Other, with 349 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 159 $22,955,000 $144,371 $0 0.00%
    $100,000 or less 90 $6,510,000 $72,333 $0 0.00%
    $200k-400k 78 $21,670,000 $277,821 $0 0.00%
    $400k-600k 14 $6,700,000 $478,571 $0 0.00%
    $600k-1MM 6 $4,220,000 $703,333 $0 0.00%
    $1MM+ 2 $3,430,000 $1,715,000 $0 0.00%

    2021 saw Wayne Savings Community Bank place emphasis on $100k-200k loans with 159 originations, totaling $22,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 81 $9,785,000 $120,802 $0 0.00%
    $50k-75k 79 $11,385,000 $144,114 $0 0.00%
    $100k-150k 60 $13,260,000 $221,000 $0 0.00%
    $75k-100k 53 $9,025,000 $170,283 $0 0.00%
    $150k-250k 27 $7,005,000 $259,444 $0 0.00%
    $250k+ 11 $3,425,000 $311,364 $0 0.00%

    Wayne Savings Community Bank lent most frequently to those with incomes in the $50k or less range, with 81 originations. The second most popular income band? $50k-75k, with 79 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 349 $65,485,000 $187,636 $0 0.00%

    Wayne Savings Community Bank lent most frequently to those with DTI ratios of Exempt%, with 349 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 300 $51,930,000 $173,100 $0 0.00%
    Not applicable 38 $11,600,000 $305,263 $0 0.00%
    Not provided 8 $1,490,000 $186,250 $0 0.00%
    Asian 2 $350,000 $175,000 $0 0.00%
    Native Hawaiian or Islander 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.18%

    Wayne Savings Community 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
    92.26%

    Wayne Savings Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 349 $65,485,000 $187,636

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    349 $65,485,000 $187,636

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Wayne Savings Community Bank 1055 Sugarbush Drive Ashland, OH 44805 Full Service B&M $17,626
    Wayne Savings Community Bank 110 Crawford Street Fredericksburg, OH 44627 Full Service B&M $2,735
    Wayne Savings Community Bank 121 N Main Street Creston, OH 44217 Full Service B&M $40,637
    Wayne Savings Community Bank 1265 South Main Street North Canton, OH 44720 Full Service B&M $40,666
    Wayne Savings Community Bank 151 North Market Street Wooster, OH 44691 Full Service B&M $187,674
    Wayne Savings Community Bank 1926 Cleveland Rd Wooster, OH 44691 Full Service B&M $54,834
    Wayne Savings Community Bank 233 Claremont Ashland, OH 44805 Full Service B&M $42,532
    Wayne Savings Community Bank 237 N Main St Rittman, OH 44270 Full Service B&M $48,795
    Wayne Savings Community Bank 303 Highland Drive Lodi, OH 44254 Full Service B&M $36,029
    Wayne Savings Community Bank 543 Riffel Road Wooster, OH 44691 Full Service B&M $26,232
    Wayne Savings Community Bank 90 North Clay Street Millersburg, OH 44654 Full Service B&M $33,340

    For 2021, Wayne Savings Community Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,944
    Net interest income $19,432
    Total noninterest income $2,407
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $577
    Trading account gains and fees $0
    Additional Noninterest Income $1,830
    Pre-tax net operating income $9,380
    Securities gains (or losses, -) $-55
    Income before extraordinary items $7,550
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,550
    Minority interest net income $0
    Net income $7,550
    Sale, conversion, retirement of capital stock, net $123
    Net operating income $7,594

    Wayne Savings Community Bank's gross interest income from loans was $21,944,000.
    Wayne Savings Community Bank's net interest income from loans was $19,432,000.
    Wayne Savings Community Bank's fee based income from loans was $577,000.
    Wayne Savings Community Bank's net income from loans was $7,550,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,512
    Provision for credit losses $746
    Total noninterest expense $11,713
    Salaries and employee benefits $6,654
    Premises and equipment expense $1,581
    Additional noninterest expense $3,478
    Applicable income taxes $1,775
    Net charge-offs $1
    Cash dividends $5,174

    Wayne Savings Community Bank's interest expense for loans was $2,512,000.
    Wayne Savings Community Bank's payroll and benefits expense were $6,654,000.
    Wayne Savings Community Bank's property, plant and equipment expenses $1,581,000.

    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 1.0%
    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 $543,492
    Deposits held in domestic offices $543,492
    Deposits by Individuals, partnerships, and corporations $534,303
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,188
    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 $303,408
    Demand deposits $94,919
    Nontransaction accounts $240,083
    Money market deposit accounts (MMDAs) $36,249
    Other savings deposits (excluding MMDAs) $99,544
    Total time deposits $104,291
    Total time and savings deposits $448,572
    Noninterest-bearing deposits $90,774
    Interest-bearing deposits $452,718
    Retail deposits $524,279
    IRAs and Keogh plan accounts $26,255
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $637,075
    Cash & Balances due from depository institutions $44,671
    Interest-bearing balances $40,700
    Total securities $110,216
    Federal funds sold & reverse repurchase $0
    Net loans and leases $455,707
    Loan and leases loss allowance $5,442
    Trading account assets $0
    Bank premises and fixed assets $5,224
    Other real estate owned $352
    Goodwill and other intangibles $2,445
    All other assets $18,460

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $637,075
    Total Liabilities $583,641
    Total deposits $543,492
    Interest-bearing deposits $452,718
    Deposits held in domestic offices $543,492
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $22,402
    Trading liabilities $0
    Other borrowed funds $14,000
    Subordinated debt $0
    All other liabilities $3,747

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $455,707
    Loan and leases loss allowance $5,442
    Total loans and leases (domestic) $461,149
    All real estate loans $416,901
    Real estate loans in domestic offices $416,901
    Construction and development loans $8,459
    Residential 1-4 family construction $1,915
    Other construction, all land development and other land $6,544
    Loans secured by nonfarm nonresidential properties $128,142
    Nonfarm nonresidential secured by owner-occupied properties $89,251
    Commercial real estate & other non-farm, non-residential $38,891
    Multifamily residential real estate $11,900
    1-4 family residential loans $179,923
    Farmland loans $88,477
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $42,878
    To non-U.S. addressees $0
    Loans to individuals $2,250
    Credit card loans $0
    Related Plans $232
    Consumer Auto Loans $1,666
    Other loans to individuals $352
    All other loans & leases $125
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $676
    Non 1-4 family restructured loans & leases $171
    Total loans and leases (foreign) $0

    Wayne Savings Community Bank had $455,707,000 of loans outstanding in 2021. $416,901,000 of loans were in real estate loans. $8,459,000 of loans were in development loans. $11,900,000 of loans were in multifamily mortgage loans. $179,923,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,666,000 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 238 $50,369 $211,634
    Nonfarm, nonresidential loans - <$100k 64 $3,021 $47,203
    Nonfarm, nonresidential loans - $100-250k 69 $9,482 $137,420
    Nonfarm, nonresidential loans - $250k-1MM 105 $37,866 $360,629
    Commercial & Industrial, US addressed loans - <$1MM 439 $33,048 $75,280
    Commercial & Industrial, US addressed loans - <$100k 290 $7,936 $27,366
    Commercial & Industrial, US addressed loans - $100-250k 86 $8,932 $103,860
    Commercial & Industrial, US addressed loans - $250k-1MM 63 $16,180 $256,825
    Farmland loans - <$1MM 142 $23,518 $165,620
    Farmland loans - <$100k 37 $1,671 $45,162
    Farmland loans - $100-250k 58 $8,374 $144,379
    Farmland loans - $250k-1MM 47 $13,473 $286,660