Seattle Bank Mortgage Rates, Fees & Info
Seattle, WALEI: 549300X01FL2VJJGCI54
Tax ID: 91-1984151
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Mortgage Data
Bank Data
Review & Overview
Seattle Bank is a smaller bank specializing in Home Purchase and Refi loans. Seattle Bank has a high proportion of conventional loans. Their top markets by origination volume include: Seattle, Tucson, and Kennewick among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Seattle 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.
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Originations
19Origination Dollar Volume (All Markets)
$30,745,000Employee count
49Top 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 |
|---|---|---|---|---|---|
| Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) | 17 | $29,785,000 | $1,752,059 | $0 | 0.00% |
| TUCSON, AZ (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 0.00% |
| KENNEWICK-RICHLAND, WA (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 19 | $30,745,000 | $1,618,158 | $0 | 0.00% |
For 2018, Seattle Bank's most frequently originated type of loan was Conventional, with 19 originations.
Loan Reason
For 2018, Seattle Bank's most frequently cited loan purpose was Home Purchase, with 9 originations. The 2nd most popular reason was Refi, with 7 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 19 | $30,745,000 | $1,618,158 | $0 | 0.00% |
For 2018, Seattle Bank's most frequently cited loan duration was Other, with 19 originations.
Loan Sizing
2018 saw Seattle Bank place emphasis on $1MM+ loans with 11 originations, totaling $26,445,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $250k+ | 8 | $18,270,000 | $2,283,750 | $0 | 0.00% |
| $150k-250k | 4 | $2,840,000 | $710,000 | $0 | 0.00% |
Seattle Bank lent most frequently to those with incomes in the $250k+ range, with 8 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 19 | $30,745,000 | $1,618,158 | $0 | 0.00% |
Seattle Bank lent most frequently to those with DTI ratios of Exempt%, with 19 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.63%
Seattle Bank has an average approval rate.
Pick Rate
Approvals leading to origination78.95%
Seattle Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 19 | $30,745,000 | $1,618,158 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 5 | $8,675,000 | $1,735,000 |
| Single Family (1-4 Units):Site-Built | 14 | $22,070,000 | $1,576,429 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Seattle Bank | 600 University Street, Suite 1850 Seattle, WA 98101 | Full Service B&M | $449,265 |
For 2018, Seattle Bank had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $25,594 |
| Net interest income | $17,279 |
| Total noninterest income | $-385 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $46 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $-431 |
| Pre-tax net operating income | $5,471 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,285 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,285 |
| Minority interest net income | $0 |
| Net income | $4,285 |
| Sale, conversion, retirement of capital stock, net | $336 |
| Net operating income | $4,285 |
Seattle Bank's gross interest income from loans was $25,594,000.
Seattle Bank's net interest income from loans was $17,279,000.
Seattle Bank's fee based income from loans was $46,000.
Seattle Bank's net income from loans was $4,285,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $8,315 |
| Provision for credit losses | $600 |
| Total noninterest expense | $10,823 |
| Salaries and employee benefits | $6,989 |
| Premises and equipment expense | $902 |
| Additional noninterest expense | $2,932 |
| Applicable income taxes | $1,186 |
| Net charge-offs | $268 |
| Cash dividends | $0 |
Seattle Bank's interest expense for loans was $8,315,000.
Seattle Bank's payroll and benefits expense were $6,989,000.
Seattle Bank's property, plant and equipment expenses $902,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 2.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| 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 | $493,973 |
| Deposits held in domestic offices | $493,973 |
| Deposits by Individuals, partnerships, and corporations | $446,665 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $9,230 |
| Deposits by Commercial banks and other depository institutions in U.S. | $38,079 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $106,897 |
| Demand deposits | $60,194 |
| Nontransaction accounts | $387,077 |
| Money market deposit accounts (MMDAs) | $37,438 |
| Other savings deposits (excluding MMDAs) | $16,738 |
| Total time deposits | $332,902 |
| Total time and savings deposits | $433,780 |
| Noninterest-bearing deposits | $60,194 |
| Interest-bearing deposits | $433,779 |
| Retail deposits | $311,004 |
| IRAs and Keogh plan accounts | $7,351 |
| Brokered deposits | $135,820 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $630,730 |
| Cash & Balances due from depository institutions | $56,878 |
| Interest-bearing balances | $56,621 |
| Total securities | $6,390 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $547,773 |
| Loan and leases loss allowance | $4,127 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $462 |
| Other real estate owned | $5,113 |
| Goodwill and other intangibles | $0 |
| All other assets | $14,114 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $630,730 |
| Total Liabilities | $568,091 |
| Total deposits | $493,973 |
| Interest-bearing deposits | $433,779 |
| Deposits held in domestic offices | $493,973 |
| % insured (estimated) | $55 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $70,000 |
| Subordinated debt | $0 |
| All other liabilities | $4,118 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $547,773 |
| Loan and leases loss allowance | $4,127 |
| Total loans and leases (domestic) | $551,900 |
| All real estate loans | $459,226 |
| Real estate loans in domestic offices | $459,226 |
| Construction and development loans | $26,962 |
| Residential 1-4 family construction | $7,625 |
| Other construction, all land development and other land | $19,337 |
| Loans secured by nonfarm nonresidential properties | $45,237 |
| Nonfarm nonresidential secured by owner-occupied properties | $13,683 |
| Commercial real estate & other non-farm, non-residential | $31,554 |
| Multifamily residential real estate | $39,108 |
| 1-4 family residential loans | $347,919 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $67,547 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $11,682 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $11,682 |
| All other loans & leases | $13,445 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $13,445 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $21,041 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Seattle Bank had $547,773,000 of loans outstanding in 2018. $459,226,000 of loans were in real estate loans. $26,962,000 of loans were in development loans. $39,108,000 of loans were in multifamily mortgage loans. $347,919,000 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 | 4 | $2,359 | $589,750 |
| Nonfarm, nonresidential loans - $250k-1MM | 4 | $2,359 | $589,750 |
| Commercial & Industrial, US addressed loans - <$1MM | 47 | $7,745 | $164,787 |
| Commercial & Industrial, US addressed loans - <$100k | 12 | $546 | $45,500 |
| Commercial & Industrial, US addressed loans - $100-250k | 13 | $1,038 | $79,846 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 22 | $6,161 | $280,045 |