Wayne Bank Mortgage Rates, Fees & Info
Honesdale, PALEI: 549300XZGHPTWOJPDI31
Tax ID: 24-0754330
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Mortgage Data
Bank Data
Review & Overview
Wayne Bank is a smaller bank specializing in Home Purchase loans. Wayne Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: New York, Rochester, Oneonta, Scranton, and East Stroudsburg among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)Wayne Bank has an 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
472Origination Dollar Volume (All Markets)
$91,150,000Employee count
261Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 197 | $32,235,000 | $163,629 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 59 | $15,225,000 | $258,051 | $0 | 0.00% |
| ROCHESTER, NY (FHA|USDA|VA) | 58 | $13,960,000 | $240,690 | $0 | 0.00% |
| Oneonta, NY (FHA|USDA|VA) | 50 | $9,710,000 | $194,200 | $0 | 0.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 47 | $7,245,000 | $154,149 | $0 | 0.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 24 | $3,790,000 | $157,917 | $0 | 0.00% |
| ELMIRA, NY (FHA|USDA|VA) | 1 | $1,585,000 | $1,585,000 | $0 | 0.00% |
| Seneca Falls, NY (FHA|USDA|VA) | 11 | $1,515,000 | $137,727 | $0 | 0.00% |
| SYRACUSE, NY (FHA|USDA|VA) | 2 | $1,480,000 | $740,000 | $0 | 0.00% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 9 | $1,215,000 | $135,000 | $0 | 0.00% |
| BINGHAMTON, NY (FHA|USDA|VA) | 4 | $730,000 | $182,500 | $0 | 0.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $495,000 | $495,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $0 | 0.00% |
| KINGSTON, NY (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 0.00% |
| UTICA-ROME, NY (FHA|USDA|VA) | 2 | $430,000 | $215,000 | $0 | 0.00% |
| WILLIAMSPORT, PA (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| Corning, NY (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| Auburn, NY (FHA|USDA|VA) | 1 | $95,000 | $95,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 471 | $90,995,000 | $193,195 | $0 | 0.00% |
| FHA | 1 | $155,000 | $155,000 | $0 | 0.00% |
For 2020, Wayne Bank's most frequently originated type of loan was Conventional, with 471 originations. Their 2nd most popular type was FHA, with 1 originations.
Loan Reason
For 2020, Wayne Bank's most frequently cited loan purpose was Home Purchase, with 218 originations. The 2nd most popular reason was Cash Out Refi, with 106 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 472 | $91,150,000 | $193,114 | $0 | 0.00% |
For 2020, Wayne Bank's most frequently cited loan duration was Other, with 472 originations.
Loan Sizing
2020 saw Wayne Bank place emphasis on $100k-200k loans with 175 originations, totaling $24,915,000 in origination value.
Applicant Income
Wayne Bank lent most frequently to those with incomes in the $100k-150k range, with 94 originations. The second most popular income band? $50k-75k, with 91 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 472 | $91,150,000 | $193,114 | $0 | 0.00% |
Wayne Bank lent most frequently to those with DTI ratios of Exempt%, with 472 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.00%
Wayne Bank has a below average approval rate.
Pick Rate
Approvals leading to origination76.27%
Wayne Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 472 | $91,150,000 | $193,114 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| WINNPOINTE CORPORATION | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 9 | 75.0% |
| WINNPOINTE CORPORATION | Conventional home mortgage | Closing on a mortgage | 2 | 16.7% |
| WINNPOINTE CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 8.3% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Wayne Bank | Route 42 And Anawana Lake Road Monticello, NY 12701 | Full Service B&M | $23,751 |
| Wayne Bank | 228 Belmont Street Waymart, PA 18472 | Full Service B&M | $53,263 |
| Wayne Bank | 245 Willow Avenue Honesdale, PA 18431 | Full Service B&M | $14,807 |
| Wayne Bank | 2951 Route 611, Suite101 Tannersville, PA 18372 | Full Service B&M | $12,392 |
| Wayne Bank | 1 Churchill Avenue Stamford, NY 12167 | Full Service B&M | $66,564 |
| Wayne Bank | 101 Sullivan Avenue Wurtsboro, NY 12790 | Full Service B&M | $13,376 |
| Wayne Bank | 107 Richardson Avenue Shohola, PA 18458 | Full Service B&M | $23,799 |
| Wayne Bank | 111 West Harford Street Milford, PA 18337 | Full Service B&M | $111,942 |
| Wayne Bank | 1130 Wyoming Avenue Exeter, PA 18643 | Full Service B&M | $965 |
| Wayne Bank | 131-135 Delaware Street Walton, NY 13856 | Full Service B&M | $153,683 |
| Wayne Bank | 17 Como Road Lakewood, PA 18439 | Full Service B&M | $34,934 |
| Wayne Bank | 1972 Route 52 East Liberty, NY 12754 | Full Service B&M | $23,111 |
| Wayne Bank | 216 Adams Ave Scranton, PA 18503 | Full Service B&M | $44,396 |
| Wayne Bank | 2226 Barney Lane Effort, PA 18330 | Full Service B&M | $22,121 |
| Wayne Bank | 308 Stroud Mall Road Stroudsburg, PA 18360 | Full Service B&M | $46,326 |
| Wayne Bank | 314 Main Street Andes, NY 13731 | Full Service B&M | $23,922 |
| Wayne Bank | 35861 State Route 10 Hamden, NY 13782 | Full Service B&M | $10,224 |
| Wayne Bank | 5 River Road Callicoon, NY 12723 | Full Service B&M | $17,921 |
| Wayne Bank | 5165 Milford Road East Stroudsburg, PA 18302 | Full Service B&M | $34,535 |
| Wayne Bank | 536 Main Street Franklin, NY 13775 | Full Service B&M | $26,132 |
| Wayne Bank | 53898 State Highway 30 Roxbury, NY 12474 | Full Service B&M | $16,502 |
| Wayne Bank | 56 Stewart Avenue Roscoe, NY 12776 | Full Service B&M | $29,142 |
| Wayne Bank | 63 Welwood Ave Hawley, PA 18428 | Full Service B&M | $74,622 |
| Wayne Bank | 717 Main Street Honesdale, PA 18431 | Full Service B&M | $161,638 |
| Wayne Bank | 734 Sans Souci Parkway Hanover Township, PA 18706 | Full Service B&M | $6,489 |
| Wayne Bank | 841 Northern Boulevard Clarks Summit, PA 18411 | Full Service B&M | $30,614 |
| Wayne Bank | 93 Main Street Narrowsburg, NY 12764 | Full Service B&M | $9,878 |
For 2020, Wayne Bank had 27 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $58,454 |
| Net interest income | $50,475 |
| Total noninterest income | $7,585 |
| Gross Fiduciary activities income | $682 |
| Service charges on deposit accounts | $1,724 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $5,179 |
| Pre-tax net operating income | $19,842 |
| Securities gains (or losses, -) | $71 |
| Income before extraordinary items | $16,605 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $16,605 |
| Minority interest net income | $0 |
| Net income | $16,605 |
| Sale, conversion, retirement of capital stock, net | $203 |
| Net operating income | $16,546 |
Wayne Bank's gross interest income from loans was $58,454,000.
Wayne Bank's net interest income from loans was $50,475,000.
Wayne Bank's fee based income from loans was $1,724,000.
Wayne Bank's net income from loans was $16,605,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $7,979 |
| Provision for credit losses | $5,450 |
| Total noninterest expense | $32,768 |
| Salaries and employee benefits | $17,121 |
| Premises and equipment expense | $4,103 |
| Additional noninterest expense | $11,544 |
| Applicable income taxes | $3,308 |
| Net charge-offs | $809 |
| Cash dividends | $7,819 |
Wayne Bank's interest expense for loans was $7,979,000.
Wayne Bank's payroll and benefits expense were $17,121,000.
Wayne Bank's property, plant and equipment expenses $4,103,000.
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 | 1.0% |
| 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 | $1,536,240 |
| Deposits held in domestic offices | $1,536,240 |
| Deposits by Individuals, partnerships, and corporations | $1,212,029 |
| Deposits by U.S. Government | $13 |
| Deposits by States and political subdivisions in the U.S. | $322,506 |
| Deposits by Commercial banks and other depository institutions in U.S. | $1,692 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $510,107 |
| Demand deposits | $360,423 |
| Nontransaction accounts | $1,026,133 |
| Money market deposit accounts (MMDAs) | $264,525 |
| Other savings deposits (excluding MMDAs) | $227,777 |
| Total time deposits | $533,831 |
| Total time and savings deposits | $1,175,817 |
| Noninterest-bearing deposits | $360,423 |
| Interest-bearing deposits | $1,175,817 |
| Retail deposits | $1,330,864 |
| IRAs and Keogh plan accounts | $57,895 |
| Brokered deposits | $10,292 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,853,047 |
| Cash & Balances due from depository institutions | $111,693 |
| Interest-bearing balances | $92,598 |
| Total securities | $226,586 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,397,869 |
| Loan and leases loss allowance | $13,150 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $22,752 |
| Other real estate owned | $965 |
| Goodwill and other intangibles | $30,157 |
| All other assets | $63,025 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,853,047 |
| Total Liabilities | $1,658,013 |
| Total deposits | $1,536,240 |
| Interest-bearing deposits | $1,175,817 |
| Deposits held in domestic offices | $1,536,240 |
| % insured (estimated) | $88 |
| Federal funds purchased and repurchase agreements | $63,303 |
| Trading liabilities | $0 |
| Other borrowed funds | $42,459 |
| Subordinated debt | $0 |
| All other liabilities | $16,011 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,397,869 |
| Loan and leases loss allowance | $13,150 |
| Total loans and leases (domestic) | $1,411,019 |
| All real estate loans | $920,631 |
| Real estate loans in domestic offices | $920,631 |
| Construction and development loans | $21,005 |
| Residential 1-4 family construction | $10,686 |
| Other construction, all land development and other land | $10,319 |
| Loans secured by nonfarm nonresidential properties | $491,753 |
| Nonfarm nonresidential secured by owner-occupied properties | $341,845 |
| Commercial real estate & other non-farm, non-residential | $149,908 |
| Multifamily residential real estate | $24,092 |
| 1-4 family residential loans | $317,447 |
| Farmland loans | $66,334 |
| Loans held in foreign offices | $0 |
| Farm loans | $40,929 |
| Commercial and industrial loans | $230,278 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $158,633 |
| Credit card loans | $0 |
| Related Plans | $845 |
| Consumer Auto Loans | $116,299 |
| Other loans to individuals | $41,489 |
| All other loans & leases | $60,548 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $315 |
| 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 $1,397,869,000 of loans outstanding in 2020. $920,631,000 of loans were in real estate loans. $21,005,000 of loans were in development loans. $24,092,000 of loans were in multifamily mortgage loans. $317,447,000 of loans were in 1-4 family mortgage loans. $40,929,000 of loans were in farm loans. $0 of loans were in credit card loans. $116,299,000 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 | 931 | $209,572 | $225,104 |
| Nonfarm, nonresidential loans - <$100k | 219 | $10,170 | $46,438 |
| Nonfarm, nonresidential loans - $100-250k | 287 | $36,273 | $126,387 |
| Nonfarm, nonresidential loans - $250k-1MM | 425 | $163,129 | $383,833 |
| Commercial & Industrial, US addressed loans - <$1MM | 2,572 | $164,040 | $63,779 |
| Commercial & Industrial, US addressed loans - <$100k | 2,054 | $56,350 | $27,434 |
| Commercial & Industrial, US addressed loans - $100-250k | 342 | $43,555 | $127,354 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 176 | $64,135 | $364,403 |
| Farmland loans - <$1MM | 170 | $27,022 | $158,953 |
| Farmland loans - <$100k | 43 | $2,273 | $52,860 |
| Farmland loans - $100-250k | 71 | $9,649 | $135,901 |
| Farmland loans - $250k-1MM | 56 | $15,100 | $269,643 |
| Agriculture operations loans - <$1MM | 360 | $25,709 | $71,414 |
| Agriculture operations loans - <$100k | 251 | $8,440 | $33,625 |
| Agriculture operations loans - $100-250k | 75 | $9,149 | $121,987 |
| Agriculture operations loans - $250k-1MM | 34 | $8,120 | $238,824 |