Jersey Shore State Bank Mortgage Rates, Fees & Info

Williamsport, PA

LEI: 549300YHEI1EIYO6OO67

Tax ID: 24-0622580

4.6 stars - out of 5 stars, based on 42 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Jersey Shore State Bank is a smaller bank specializing in Home Purchase and Refi loans. Jersey Shore State Bank has a high proportion of conventional loans. Their top markets include Williamsport, State College, Lock Haven, Altoona, and Huntingdon among others. Jersey Shore State Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Jersey Shore State Bank is typically an average fee lendor.


Originations

1,776

Origination Dollar Volume (All Markets)

$269,030,000

Employee count

242 Show all (9) awards

Relative Rate

Jersey Shore State Bank's average 30 year fixed rate mortgage of loans were 2.95%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.2%.

Relative Fees

Jersey Shore State Bank's average total fees for a 30 year fixed rate mortgage are $5,715.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
WILLIAMSPORT, PA (FHA|USDA|VA) 752 $95,240,000 $126,649 $4,374 2.65%
STATE COLLEGE, PA (FHA|USDA|VA) 284 $56,270,000 $198,134 $5,662 2.61%
Lock Haven, PA (FHA|USDA|VA) 227 $26,215,000 $115,485 $4,944 2.57%
ALTOONA, PA (FHA|USDA|VA) 51 $15,735,000 $308,529 $4,521 2.83%
Huntingdon, PA (FHA|USDA|VA) 9 $15,315,000 $1,701,667 $6,568 3.83%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 66 $11,790,000 $178,636 $4,286 3.03%
BLOOMSBURG-BERWICK, PA (FHA|USDA|VA) 66 $10,300,000 $156,061 $4,678 2.82%
Lewisburg, PA (FHA|USDA|VA) 45 $9,275,000 $206,111 $36,445 2.75%
Sunbury, PA (FHA|USDA|VA) 71 $7,125,000 $100,352 $4,930 2.80%
DuBois, PA (FHA|USDA|VA) 90 $7,070,000 $78,556 $4,770 2.42%
Outside of Metro Areas 57 $6,065,000 $106,404 $5,294 2.48%
Lewistown, PA (FHA|USDA|VA) 11 $2,145,000 $195,000 $5,060 2.77%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $940,000 $235,000 $6,893 2.44%
EAST STROUDSBURG, PA (FHA|USDA|VA) 3 $755,000 $251,667 $4,590 2.96%
Somerset, PA (FHA|USDA|VA) 3 $615,000 $205,000 $5,465 3.25%
Sayre, PA (FHA|USDA|VA) 5 $595,000 $119,000 $4,109 2.68%
PITTSBURGH, PA (FHA|USDA|VA) 4 $590,000 $147,500 $5,095 3.25%
JOHNSTOWN, PA (FHA|USDA|VA) 8 $560,000 $70,000 $6,101 3.49%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 3 $495,000 $165,000 $4,395 3.04%
Selinsgrove, PA (FHA|USDA|VA) 4 $440,000 $110,000 $3,953 2.60%
Pottsville, PA (FHA|USDA|VA) 3 $405,000 $135,000 $3,629 3.25%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 2 $290,000 $145,000 $4,373 3.56%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $215,000 $215,000 $4,193 3.13%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $115,000 $115,000 $0 1.99%
Indiana, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 2.25%
Meadville, PA (FHA|USDA|VA) 1 $105,000 $105,000 $5,545 2.63%
Bradford, PA (FHA|USDA|VA) 1 $95,000 $95,000 $0 2.63%
St. Marys, PA (FHA|USDA|VA) 1 $85,000 $85,000 $4,621 2.38%
ERIE, PA (FHA|USDA|VA) 2 $80,000 $40,000 $0 4.75%

Jersey Shore State Bank's top markets include Williamsport, State College, Lock Haven, Altoona, and Huntingdon among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,590 $243,390,000 $153,075 $5,662 2.67%
USDA 186 $25,640,000 $137,849 $5,657 2.68%

For the 2021 period, Jersey Shore State Bank's most frequently originated loan type of loans were Conventional, with 1,590 originations. Their 2nd most popular type is USDA, with 186 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 788 $131,490,000 $166,865 $6,397 2.87%
Refi 618 $105,740,000 $171,100 $4,158 2.49%
Home Improvement 186 $11,310,000 $60,806 $0 2.42%
Other 120 $6,960,000 $58,000 $0 2.33%
Cash Out Refi 64 $13,530,000 $211,406 $4,092 3.24%

For the 2021, Jersey Shore State Bank's most frequently cited loan purpose of loans were Home Purchase, with 788 originations. The 2nd most popular reason of loans were Refi, with 618 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 933 $102,145,000 $109,480 $3,564 2.40%
30 Year 527 $86,245,000 $163,653 $5,715 2.95%
20 Year 167 $53,675,000 $321,407 $3,662 3.85%
10 Year 79 $15,625,000 $197,785 $3,688 0.77%
30+ year 29 $7,695,000 $265,345 $7,108 3.94%
15 Year 26 $2,810,000 $108,077 $3,391 3.90%
5 Year 12 $240,000 $20,000 $1,534 1.31%
1 Year 3 $595,000 $198,333 $2,415 4.50%

For the 2021, Jersey Shore State Bank's most frequently cited loan length of loans were Other, with 933 originations. The 2nd most popular length of loans were 30 Year, with 527 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 523 $82,215,000 $157,199
$2k-3k 27 $6,705,000 $248,333
$3k-4k 21 $6,185,000 $294,524
$<1k 14 $1,420,000 $101,429
$5k+ 4 $1,550,000 $387,500

$5,715 of loans were Jersey Shore State Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 523 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 896 $101,800,000 $113,616
2.5-3% 418 $57,480,000 $137,512
3-4% 342 $91,880,000 $268,655
4-5% 118 $17,670,000 $149,746
5-6% 2 $200,000 $100,000

During 2021, Jersey Shore State Bank's average interest rate of loans were 2.95%, while their most frequently originated rate bucket of loans were <2.5%, with 896 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 811 $41,055,000 $50,623 $3,698 2.44%
$100k-200k 643 $91,895,000 $142,916 $6,396 2.80%
$200k-400k 264 $68,180,000 $258,258 $5,540 2.94%
$400k-600k 34 $17,080,000 $502,353 $6,216 3.21%
$1MM+ 13 $42,765,000 $3,289,615 $0 3.13%
$600k-1MM 11 $8,055,000 $732,273 $14,356 3.28%

2021 saw Jersey Shore State Bank place emphasis on $100,000 or less loans with 811 originations, totaling $41,055,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 450 $50,410,000 $112,022 $4,855 2.51%
$50k or less 404 $35,480,000 $87,822 $7,689 2.43%
$75k-100k 292 $36,420,000 $124,726 $5,044 2.55%
$100k-150k 250 $34,750,000 $139,000 $4,435 2.65%
$150k-250k 127 $22,775,000 $179,331 $5,036 2.71%
$250k+ 52 $18,230,000 $350,577 $6,228 2.80%

Jersey Shore State Bank lent most frequently to those with incomes in the $50k-75k range, with 450 originations. The second most popular income band? $50k or less, with 404 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 448 $50,920,000 $113,661 $4,637 2.46%
30-36% 297 $36,985,000 $124,529 $8,909 2.47%
<20% 276 $30,050,000 $108,877 $4,215 2.38%
39% 76 $11,230,000 $147,763 $5,447 2.54%
36% 61 $7,485,000 $122,705 $4,445 2.48%
37% 58 $5,510,000 $95,000 $3,917 2.36%
38% 52 $8,440,000 $162,308 $5,295 2.59%
40% 44 $5,670,000 $128,864 $4,749 2.48%
44% 33 $3,765,000 $114,091 $4,680 2.25%
42% 29 $4,515,000 $155,690 $5,885 2.44%
41% 27 $4,065,000 $150,556 $4,930 2.29%
43% 23 $3,165,000 $137,609 $4,488 2.61%
45% 22 $2,790,000 $126,818 $4,408 2.68%
48% 11 $2,085,000 $189,545 $4,071 2.99%
46% 10 $1,740,000 $174,000 $5,838 2.85%
50-60% 7 $2,655,000 $379,286 $5,343 3.48%
47% 6 $680,000 $113,333 $3,695 2.84%
49% 4 $990,000 $247,500 $4,783 2.81%
>60% 3 $545,000 $181,667 $5,242 4.17%

Jersey Shore State Bank lent most frequently to those with DTI ratios of 20-30%, with 448 originations. The next most common DTI ratio? 30-36%, with 297 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,430 $190,890,000 $133,490 $5,743 2.58%
Not applicable 147 $49,225,000 $334,864 $0 3.88%
Not provided 178 $25,980,000 $145,955 $5,022 2.37%
Black 14 $1,480,000 $105,714 $4,814 2.56%
Asian 5 $1,075,000 $215,000 $4,336 2.20%
Asian Indian 2 $380,000 $190,000 $8,539 2.95%

Approval Rates

Total approvals of all applications
94.11%

Jersey Shore State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
92.08%

Jersey Shore State Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
0.0 1 $55,000 $55,000
NA 1,775 $268,975,000 $151,535

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,776 $269,030,000 $151,481

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 279 $21,865,000 $78,369 $4,070 2.46%
40-60% 219 $29,635,000 $135,320 $4,095 2.68%
60-80% 390 $92,190,000 $236,385 $7,225 3.07%
80-100% 556 $114,710,000 $206,313 $5,009 2.95%
Over 100% 9 $1,475,000 $163,889 $6,380 2.80%
Under 20% 322 $9,140,000 $28,385 $3,054 1.86%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Jersey Shore State Bank 100 Cobblestone Road Bellefonte, PA 16823 Full Service B&M $76,406
Jersey Shore State Bank 2050 North Atherton Street State College, PA 16803 Full Service B&M $48,107
Jersey Shore State Bank 2675 Euclid Avenue Duboistown, PA 17702 Full Service B&M $67,492
Jersey Shore State Bank 2842 Earlystown Road Centre Hall, PA 16828 Full Service B&M $52,975
Jersey Shore State Bank 300 Market Street Williamsport, PA 17701 Limited, Drive-thru $0
Jersey Shore State Bank 300 Market Street Williamsport, PA 17701 Full Service B&M $248,116
Jersey Shore State Bank 4 West Main Street Lock Haven, PA 17745 Full Service B&M $125,752
Jersey Shore State Bank 44 Muncy Creek Blvd Muncy, PA 17756 Full Service B&M $13,529
Jersey Shore State Bank 493 East Sycamore Road Snow Shoe, PA 16874 Full Service B&M $12,969
Jersey Shore State Bank 503 E Plank Rd Altoona, PA 16602 Full Service B&M $2,779
Jersey Shore State Bank 550 North Derr Drive Lewisburg, PA 17837 Full Service B&M $53,072
Jersey Shore State Bank 820 Broad Street Montoursville, PA 17754 Full Service B&M $47,332
Jersey Shore State Bank 835 E Bishop St Bellefonte, PA 16823 Full Service B&M $384
Jersey Shore State Bank 9094 Rt. 405 Highway Montgomery, PA 17752 Full Service B&M $31,791
Jersey Shore State Bank 112 Bridge Street Jersey Shore, PA 17740 Full Service B&M $32,754
Jersey Shore State Bank 115 South Main Street Jersey Shore, PA 17740 Full Service B&M $132,416
Jersey Shore State Bank 150 Continental Blvd Danville, PA 17821 Full Service B&M $58,657
Jersey Shore State Bank 1720 East Third Street Williamsport, PA 17701 Full Service B&M $21,126
Jersey Shore State Bank 173 Hogan Boulevard Mill Hall, PA 17751 Full Service Retail $32,988

For 2021, Jersey Shore State Bank had 19 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $42,380
Net interest income $35,543
Total noninterest income $8,614
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,271
Trading account gains and fees $0
Additional Noninterest Income $7,343
Pre-tax net operating income $15,398
Securities gains (or losses, -) $287
Income before extraordinary items $12,690
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $12,690
Minority interest net income $0
Net income $12,690
Sale, conversion, retirement of capital stock, net $0
Net operating income $12,457

Jersey Shore State Bank's gross interest income from loans was $42,380,000.
Jersey Shore State Bank's net interest income from loans was $35,543,000.
Jersey Shore State Bank's fee based income from loans was $1,271,000.
Jersey Shore State Bank's net income from loans was $12,690,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $6,837
Provision for credit losses $1,250
Total noninterest expense $27,509
Salaries and employee benefits $16,173
Premises and equipment expense $4,635
Additional noninterest expense $6,701
Applicable income taxes $2,995
Net charge-offs $223
Cash dividends $5,923

Jersey Shore State Bank's interest expense for loans was $6,837,000.
Jersey Shore State Bank's payroll and benefits expense were $16,173,000.
Jersey Shore State Bank's property, plant and equipment expenses $4,635,000.

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 1.0%
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 $1,114,490
Deposits held in domestic offices $1,114,490
Deposits by Individuals, partnerships, and corporations $936,139
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $177,473
Deposits by Commercial banks and other depository institutions in U.S. $878
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $85,711
Demand deposits $58,890
Nontransaction accounts $1,028,779
Money market deposit accounts (MMDAs) $233,672
Other savings deposits (excluding MMDAs) $669,646
Total time deposits $125,463
Total time and savings deposits $1,055,600
Noninterest-bearing deposits $304,938
Interest-bearing deposits $809,552
Retail deposits $1,075,386
IRAs and Keogh plan accounts $18,204
Brokered deposits $16,598
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,354,455
Cash & Balances due from depository institutions $94,007
Interest-bearing balances $80,022
Total securities $134,695
Federal funds sold & reverse repurchase $30,000
Net loans and leases $1,006,692
Loan and leases loss allowance $10,318
Trading account assets $0
Bank premises and fixed assets $26,582
Other real estate owned $83
Goodwill and other intangibles $3,446
All other assets $58,950

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,354,455
Total Liabilities $1,242,354
Total deposits $1,114,490
Interest-bearing deposits $809,552
Deposits held in domestic offices $1,114,490
% insured (estimated) $58
Federal funds purchased and repurchase agreements $1,985
Trading liabilities $0
Other borrowed funds $118,393
Subordinated debt $0
All other liabilities $7,486

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,006,692
Loan and leases loss allowance $10,318
Total loans and leases (domestic) $1,017,010
All real estate loans $786,178
Real estate loans in domestic offices $786,178
Construction and development loans $29,480
Residential 1-4 family construction $10,532
Other construction, all land development and other land $18,948
Loans secured by nonfarm nonresidential properties $222,067
Nonfarm nonresidential secured by owner-occupied properties $74,909
Commercial real estate & other non-farm, non-residential $147,158
Multifamily residential real estate $83,040
1-4 family residential loans $443,872
Farmland loans $7,719
Loans held in foreign offices $0
Farm loans $489
Commercial and industrial loans $50,883
To non-U.S. addressees $0
Loans to individuals $117,608
Credit card loans $0
Related Plans $3,283
Consumer Auto Loans $110,253
Other loans to individuals $4,072
All other loans & leases $61,853
Loans to foreign governments and official institutions $0
Other loans $172
Loans to depository institutions and acceptances of other banks $20,067
Loans not secured by real estate $7,931
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $4,009
Non 1-4 family restructured loans & leases $406
Total loans and leases (foreign) $0

Jersey Shore State Bank had $1,006,692,000 of loans outstanding in 2021. $786,178,000 of loans were in real estate loans. $29,480,000 of loans were in development loans. $83,040,000 of loans were in multifamily mortgage loans. $443,872,000 of loans were in 1-4 family mortgage loans. $489,000 of loans were in farm loans. $0 of loans were in credit card loans. $110,253,000 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 445 $90,920 $204,315
Nonfarm, nonresidential loans - <$100k 106 $4,392 $41,434
Nonfarm, nonresidential loans - $100-250k 166 $20,994 $126,470
Nonfarm, nonresidential loans - $250k-1MM 173 $65,534 $378,809
Commercial & Industrial, US addressed loans - <$1MM 669 $35,208 $52,628
Commercial & Industrial, US addressed loans - <$100k 533 $13,744 $25,786
Commercial & Industrial, US addressed loans - $100-250k 96 $10,035 $104,531
Commercial & Industrial, US addressed loans - $250k-1MM 40 $11,429 $285,725
Farmland loans - <$1MM 29 $4,272 $147,310
Farmland loans - <$100k 7 $304 $43,429
Farmland loans - $100-250k 11 $1,536 $139,636
Farmland loans - $250k-1MM 11 $2,432 $221,091
Agriculture operations loans - <$1MM 18 $489 $27,167
Agriculture operations loans - <$100k 14 $260 $18,571
Agriculture operations loans - $100-250k 4 $229 $57,250