Wayne Bank Mortgage Rates, Fees & Info

Honesdale, PA

LEI: 549300XZGHPTWOJPDI31

Tax ID: 24-0754330

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Wayne Bank is a smaller bank specializing in Home Purchase and Refi loans. Wayne Bank has a high proportion of conventional loans. Their top markets include Rochester, New York, Scranton, Oneonta, and Seneca Falls among others. Wayne Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

574

Origination Dollar Volume (All Markets)

$122,510,000

Employee count

265

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Outside of Metro Areas 264 $46,090,000 $174,583 $0 0.00%
ROCHESTER, NY (FHA|USDA|VA) 33 $14,755,000 $447,121 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 75 $14,105,000 $188,067 $0 0.00%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 67 $12,065,000 $180,075 $0 0.00%
Oneonta, NY (FHA|USDA|VA) 58 $11,480,000 $197,931 $0 0.00%
Seneca Falls, NY (FHA|USDA|VA) 16 $6,690,000 $418,125 $0 0.00%
EAST STROUDSBURG, PA (FHA|USDA|VA) 35 $5,615,000 $160,429 $0 0.00%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 3 $2,345,000 $781,667 $0 0.00%
Somerset, PA (FHA|USDA|VA) 1 $2,295,000 $2,295,000 $0 0.00%
Warren, PA (FHA|USDA|VA) 1 $2,145,000 $2,145,000 $0 0.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 8 $1,710,000 $213,750 $0 0.00%
Auburn, NY (FHA|USDA|VA) 2 $950,000 $475,000 $0 0.00%
WILLIAMSPORT, PA (FHA|USDA|VA) 1 $905,000 $905,000 $0 0.00%
BINGHAMTON, NY (FHA|USDA|VA) 5 $545,000 $109,000 $0 0.00%
Corning, NY (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
KINGSTON, NY (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
ITHACA, NY (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
SYRACUSE, NY (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
Pottsville, PA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%

Wayne Bank's top markets include Rochester, New York, Scranton, Oneonta, and Seneca Falls among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 574 $122,510,000 $213,432 $0 0.00%

For the 2021 period, Wayne Bank's most frequently originated loan type of loans were Conventional, with 574 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 235 $63,865,000 $271,766 $0 0.00%
Refi 146 $30,900,000 $211,644 $0 0.00%
Cash Out Refi 87 $18,875,000 $216,954 $0 0.00%
Home Improvement 67 $5,435,000 $81,119 $0 0.00%
Other 39 $3,435,000 $88,077 $0 0.00%

For the 2021, Wayne Bank's most frequently cited loan purpose of loans were Home Purchase, with 235 originations. The 2nd most popular reason of loans were Refi, with 146 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 574 $122,510,000 $213,432 $0 0.00%

For the 2021, Wayne Bank's most frequently cited loan length of loans were Other, with 574 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 208 $30,190,000 $145,144 $0 0.00%
$100,000 or less 174 $10,160,000 $58,391 $0 0.00%
$200k-400k 144 $39,450,000 $273,958 $0 0.00%
$400k-600k 27 $12,785,000 $473,519 $0 0.00%
$600k-1MM 12 $9,620,000 $801,667 $0 0.00%
$1MM+ 9 $20,305,000 $2,256,111 $0 0.00%

2021 saw Wayne Bank place emphasis on $100k-200k loans with 208 originations, totaling $30,190,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 113 $18,965,000 $167,832 $0 0.00%
$50k-75k 90 $11,620,000 $129,111 $0 0.00%
$150k-250k 87 $21,925,000 $252,011 $0 0.00%
$50k or less 83 $8,125,000 $97,892 $0 0.00%
$75k-100k 79 $11,195,000 $141,709 $0 0.00%
$250k+ 48 $15,720,000 $327,500 $0 0.00%

Wayne Bank lent most frequently to those with incomes in the $100k-150k range, with 113 originations. The second most popular income band? $50k-75k, with 90 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 574 $122,510,000 $213,432 $0 0.00%

Wayne Bank lent most frequently to those with DTI ratios of Exempt%, with 574 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 442 $75,350,000 $170,475 $0 0.00%
Not applicable 65 $34,095,000 $524,538 $0 0.00%
Not provided 51 $10,485,000 $205,588 $0 0.00%
Asian 8 $1,300,000 $162,500 $0 0.00%
American Indian 2 $570,000 $285,000 $0 0.00%
Black 3 $305,000 $101,667 $0 0.00%
Asian Indian 2 $240,000 $120,000 $0 0.00%
Other Asian 1 $165,000 $165,000 $0 0.00%

Approval Rates

Total approvals of all applications
80.68%

Wayne Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
77.92%

Wayne Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 574 $122,510,000 $213,432

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
574 $122,510,000 $213,432

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
WINNPOINTE CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 35.7%
WINNPOINTE CORPORATION Conventional home mortgage Closing on a mortgage 9 64.3%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Wayne Bank 308 Stroud Mall Road Stroudsburg, PA 18360 Full Service B&M $53,920
Wayne Bank 100 Main Street Penn Yan, NY 14527 Full Service Retail $59,423
Wayne Bank 101 Sullivan Avenue Wurtsboro, NY 12790 Full Service B&M $15,591
Wayne Bank 107 Richardson Avenue Shohola, PA 18458 Full Service B&M $25,557
Wayne Bank 111 West Harford Street Milford, PA 18337 Full Service B&M $138,227
Wayne Bank 1130 Wyoming Avenue Exeter, PA 18643 Full Service B&M $2,694
Wayne Bank 131-135 Delaware Street Walton, NY 13856 Full Service B&M $181,375
Wayne Bank 17 Como Road Lakewood, PA 18439 Full Service B&M $40,191
Wayne Bank 1972 Route 52 East Liberty, NY 12754 Full Service B&M $30,807
Wayne Bank 216 Adams Ave Scranton, PA 18503 Full Service B&M $45,106
Wayne Bank 2226 Barney Lane Effort, PA 18330 Full Service B&M $26,251
Wayne Bank 228 Belmont Street Waymart, PA 18472 Full Service B&M $56,825
Wayne Bank 245 Willow Avenue Honesdale, PA 18431 Full Service B&M $24,173
Wayne Bank 2951 Route 611, Suite101 Tannersville, PA 18372 Full Service B&M $15,355
Wayne Bank 1 Churchill Avenue Stamford, NY 12167 Full Service B&M $76,591
Wayne Bank 841 Northern Boulevard Clarks Summit, PA 18411 Full Service B&M $31,762
Wayne Bank Route 42 And Anawana Lake Road Monticello, NY 12701 Full Service B&M $27,097
Wayne Bank 314 Main Street Andes, NY 13731 Full Service B&M $28,017
Wayne Bank 34 Main Street Oneonta, NY 13820 Full Service Retail $85,441
Wayne Bank 35861 State Route 10 Hamden, NY 13782 Full Service B&M $11,096
Wayne Bank 389 Hamilton Street Geneva, NY 14456 Full Service B&M $126,802
Wayne Bank 5 River Road Callicoon, NY 12723 Full Service B&M $22,680
Wayne Bank 5165 Milford Road East Stroudsburg, PA 18302 Full Service B&M $42,681
Wayne Bank 536 Main Street Franklin, NY 13775 Full Service B&M $31,980
Wayne Bank 53898 State Highway 30 Roxbury, NY 12474 Full Service B&M $20,380
Wayne Bank 56 Stewart Avenue Roscoe, NY 12776 Full Service B&M $34,607
Wayne Bank 63 Welwood Ave Hawley, PA 18428 Full Service B&M $87,098
Wayne Bank 717 Main St Honesdale, PA 18431 Full Service B&M $192,479
Wayne Bank 73 Chestnut Street Cooperstown, NY 13326 Full Service B&M $143,738
Wayne Bank 734 Sans Souci Parkway Hanover Township, PA 18706 Full Service B&M $11,440

For 2021, Wayne Bank had 30 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $71,070
Net interest income $65,314
Total noninterest income $8,121
Gross Fiduciary activities income $748
Service charges on deposit accounts $1,854
Trading account gains and fees $0
Additional Noninterest Income $5,519
Pre-tax net operating income $30,770
Securities gains (or losses, -) $92
Income before extraordinary items $25,371
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $25,371
Minority interest net income $0
Net income $25,371
Sale, conversion, retirement of capital stock, net $213
Net operating income $25,295

Wayne Bank's gross interest income from loans was $71,070,000.
Wayne Bank's net interest income from loans was $65,314,000.
Wayne Bank's fee based income from loans was $1,854,000.
Wayne Bank's net income from loans was $25,371,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $5,756
Provision for credit losses $4,200
Total noninterest expense $38,465
Salaries and employee benefits $20,608
Premises and equipment expense $4,766
Additional noninterest expense $13,091
Applicable income taxes $5,491
Net charge-offs $908
Cash dividends $10,697

Wayne Bank's interest expense for loans was $5,756,000.
Wayne Bank's payroll and benefits expense were $20,608,000.
Wayne Bank's property, plant and equipment expenses $4,766,000.

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 $1,758,304
Deposits held in domestic offices $1,758,304
Deposits by Individuals, partnerships, and corporations $1,325,823
Deposits by U.S. Government $20
Deposits by States and political subdivisions in the U.S. $430,705
Deposits by Commercial banks and other depository institutions in U.S. $1,756
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $638,949
Demand deposits $442,183
Nontransaction accounts $1,119,355
Money market deposit accounts (MMDAs) $310,124
Other savings deposits (excluding MMDAs) $280,530
Total time deposits $528,701
Total time and savings deposits $1,316,121
Noninterest-bearing deposits $442,183
Interest-bearing deposits $1,316,121
Retail deposits $1,501,066
IRAs and Keogh plan accounts $57,486
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,069,453
Cash & Balances due from depository institutions $206,681
Interest-bearing balances $185,608
Total securities $406,782
Federal funds sold & reverse repurchase $0
Net loans and leases $1,338,683
Loan and leases loss allowance $16,442
Trading account assets $0
Bank premises and fixed assets $21,799
Other real estate owned $1,742
Goodwill and other intangibles $29,962
All other assets $63,804

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,069,453
Total Liabilities $1,864,906
Total deposits $1,758,304
Interest-bearing deposits $1,316,121
Deposits held in domestic offices $1,758,304
% insured (estimated) $87
Federal funds purchased and repurchase agreements $60,822
Trading liabilities $0
Other borrowed funds $29,998
Subordinated debt $0
All other liabilities $15,782

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,338,683
Loan and leases loss allowance $16,442
Total loans and leases (domestic) $1,355,125
All real estate loans $968,173
Real estate loans in domestic offices $968,173
Construction and development loans $21,991
Residential 1-4 family construction $14,517
Other construction, all land development and other land $7,474
Loans secured by nonfarm nonresidential properties $510,503
Nonfarm nonresidential secured by owner-occupied properties $352,401
Commercial real estate & other non-farm, non-residential $158,102
Multifamily residential real estate $43,922
1-4 family residential loans $329,832
Farmland loans $61,925
Loans held in foreign offices $0
Farm loans $37,931
Commercial and industrial loans $154,496
To non-U.S. addressees $0
Loans to individuals $153,277
Credit card loans $0
Related Plans $1,436
Consumer Auto Loans $109,098
Other loans to individuals $42,743
All other loans & leases $41,248
Loans to foreign governments and official institutions $0
Other loans $157
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 $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Wayne Bank had $1,338,683,000 of loans outstanding in 2021. $968,173,000 of loans were in real estate loans. $21,991,000 of loans were in development loans. $43,922,000 of loans were in multifamily mortgage loans. $329,832,000 of loans were in 1-4 family mortgage loans. $37,931,000 of loans were in farm loans. $0 of loans were in credit card loans. $109,098,000 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 870 $194,930 $224,057
Nonfarm, nonresidential loans - <$100k 186 $8,504 $45,720
Nonfarm, nonresidential loans - $100-250k 277 $35,009 $126,386
Nonfarm, nonresidential loans - $250k-1MM 407 $151,417 $372,032
Commercial & Industrial, US addressed loans - <$1MM 1,484 $96,362 $64,934
Commercial & Industrial, US addressed loans - <$100k 1,127 $31,830 $28,243
Commercial & Industrial, US addressed loans - $100-250k 237 $23,998 $101,257
Commercial & Industrial, US addressed loans - $250k-1MM 120 $40,534 $337,783
Farmland loans - <$1MM 154 $23,850 $154,870
Farmland loans - <$100k 36 $2,113 $58,694
Farmland loans - $100-250k 64 $8,435 $131,797
Farmland loans - $250k-1MM 54 $13,302 $246,333
Agriculture operations loans - <$1MM 344 $23,666 $68,797
Agriculture operations loans - <$100k 247 $7,726 $31,279
Agriculture operations loans - $100-250k 61 $7,777 $127,492
Agriculture operations loans - $250k-1MM 36 $8,163 $226,750