Ridgewood Savings Bank Mortgage Rates, Fees & Info
Ridgewood, NY
LEI: 549300YLIY5SO2XSK094
Tax ID: 11-1241830
1 stars
-
out of 5 stars, based on 24 reviews
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Mortgage Data
Bank Data
Overview
Ridgewood Savings Bank is a
smaller
bank
specializing in
Cash Out Refi and Home Purchase loans.
Ridgewood Savings Bank has a high proportion of conventional loans.
Their top markets include New York, Bridgeport, and Kingston among others. Ridgewood Savings 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.
Ridgewood Savings Bank is typically
a high fee
lendor.
Originations
553
Origination Dollar Volume (All Markets)
$605,715,000
Employee count
519
Relative Rate
Ridgewood Savings Bank's average 30 year fixed rate mortgage of loans were
3.11%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.04%.
Relative Fees
Ridgewood Savings Bank's average total fees for a 30 year fixed rate
mortgage are $10,521.
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 |
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)
|
495
|
$552,175,000 |
$1,115,505 |
$10,490 |
3.15% |
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA)
|
55
|
$47,525,000 |
$864,091 |
$7,713 |
2.92% |
KINGSTON, NY (FHA|USDA|VA)
|
3
|
$6,015,000 |
$2,005,000 |
$0 |
3.25% |
Ridgewood Savings Bank's top markets include New York, Bridgeport, and Kingston among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
553 |
$605,715,000 |
$1,095,325 |
$10,133 |
3.13% |
For the 2021 period, Ridgewood Savings Bank's most frequently
originated loan type
of loans were Conventional, with 553 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Cash Out Refi |
291 |
$382,085,000 |
$1,313,007 |
$9,815 |
3.20% |
Home Purchase |
140 |
$141,760,000 |
$1,012,571 |
$12,648 |
3.15% |
Refi |
98 |
$66,420,000 |
$677,755 |
$7,826 |
2.90% |
Other |
16 |
$11,960,000 |
$747,500 |
$9,588 |
3.12% |
Home Improvement |
8 |
$3,490,000 |
$436,250 |
$4,371 |
3.09% |
For the 2021, Ridgewood Savings Bank's most frequently cited loan
purpose
of loans were Cash Out Refi, with 291
originations.
The 2nd most popular reason of loans were Home Purchase,
with 140 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
30 Year |
325 |
$272,995,000 |
$839,985 |
$10,521 |
3.11% |
10 Year |
85 |
$176,005,000 |
$2,070,647 |
$3,481 |
3.42% |
Other |
64 |
$106,680,000 |
$1,666,875 |
$15,660 |
3.40% |
15 Year |
57 |
$40,525,000 |
$710,965 |
$6,814 |
2.63% |
20 Year |
21 |
$9,465,000 |
$450,714 |
$4,855 |
2.71% |
5 Year |
1 |
$45,000 |
$45,000 |
$0 |
5.00% |
For the 2021, Ridgewood Savings Bank's most frequently cited loan
length
of loans were 30 Year, with 325 originations.
The 2nd most popular length of loans were 10 Year,
with 85 originations.
Origination Fees
Origination Fee |
Originations |
Total Value |
Average Loan |
$<1k |
248 |
$174,280,000 |
$702,742 |
$5k+ |
104 |
$112,750,000 |
$1,084,135 |
$1k-2k |
21 |
$10,325,000 |
$491,667 |
$2k-3k |
16 |
$13,810,000 |
$863,125 |
$3k-4k |
15 |
$13,045,000 |
$869,667 |
$10,521 of loans were Ridgewood Savings Bank's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 248 originations.
Interest Rates
Loan Rate |
Originations |
Total Value |
Average Loan |
3-4% |
304 |
$425,630,000 |
$1,400,099 |
2.5-3% |
192 |
$148,980,000 |
$775,938 |
<2.5% |
51 |
$28,325,000 |
$555,392 |
4-5% |
6 |
$2,780,000 |
$463,333 |
During 2021, Ridgewood Savings Bank's average interest
rate of loans were 3.11%, while their
most frequently originated rate bucket of loans were 3-4%,
with 304 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$1MM+ |
212 |
$424,870,000 |
$2,004,104 |
$17,591 |
3.26% |
$600k-1MM |
136 |
$104,820,000 |
$770,735 |
$9,503 |
3.15% |
$400k-600k |
94 |
$46,440,000 |
$494,043 |
$6,962 |
3.06% |
$200k-400k |
83 |
$25,375,000 |
$305,723 |
$4,799 |
2.95% |
$100k-200k |
26 |
$4,070,000 |
$156,538 |
$3,798 |
2.73% |
$100,000 or less |
2 |
$140,000 |
$70,000 |
$1,227 |
3.81% |
2021 saw Ridgewood Savings Bank place emphasis on
$1MM+ loans
with 212 originations, totaling
$424,870,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$250k+ |
203 |
$227,225,000 |
$1,119,335 |
$13,290 |
3.07% |
$150k-250k |
115 |
$78,075,000 |
$678,913 |
$8,971 |
3.05% |
$100k-150k |
81 |
$34,845,000 |
$430,185 |
$6,431 |
3.00% |
$75k-100k |
29 |
$9,135,000 |
$315,000 |
$6,032 |
2.88% |
$50k-75k |
16 |
$4,030,000 |
$251,875 |
$4,608 |
2.88% |
$50k or less |
2 |
$270,000 |
$135,000 |
$3,284 |
3.13% |
Ridgewood Savings Bank lent most frequently to those with incomes in the
$250k+ range, with
203 originations.
The second most popular income band? $150k-250k,
with 115 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-30% |
126 |
$97,460,000 |
$773,492 |
$7,868 |
3.01% |
30-36% |
108 |
$79,750,000 |
$738,426 |
$10,826 |
3.05% |
<20% |
49 |
$37,875,000 |
$772,959 |
$8,312 |
3.02% |
42% |
29 |
$31,665,000 |
$1,091,897 |
$18,672 |
3.24% |
36% |
23 |
$21,075,000 |
$916,304 |
$13,564 |
3.02% |
39% |
22 |
$16,720,000 |
$760,000 |
$12,885 |
3.03% |
41% |
19 |
$12,695,000 |
$668,158 |
$7,859 |
3.07% |
37% |
19 |
$14,885,000 |
$783,421 |
$10,863 |
3.01% |
38% |
18 |
$15,570,000 |
$865,000 |
$10,969 |
2.94% |
40% |
12 |
$10,740,000 |
$895,000 |
$10,447 |
3.08% |
43% |
8 |
$6,100,000 |
$762,500 |
$8,988 |
2.83% |
44% |
7 |
$3,585,000 |
$512,143 |
$7,354 |
2.93% |
45% |
3 |
$2,665,000 |
$888,333 |
$8,964 |
2.92% |
46% |
1 |
$435,000 |
$435,000 |
$4,358 |
3.00% |
47% |
1 |
$565,000 |
$565,000 |
$11,771 |
2.75% |
50-60% |
1 |
$1,795,000 |
$1,795,000 |
$0 |
3.88% |
Ridgewood Savings Bank lent most frequently to those with DTI ratios
of 20-30%, with
126 originations.
The next most common DTI ratio? 30-36%,
with 108 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
White |
330 |
$273,450,000 |
$828,636 |
$9,698 |
3.03% |
Not applicable |
104 |
$244,620,000 |
$2,352,115 |
$0 |
3.52% |
Not provided |
52 |
$39,300,000 |
$755,769 |
$10,124 |
3.11% |
Black |
33 |
$24,045,000 |
$728,636 |
$14,385 |
3.08% |
Asian |
31 |
$23,825,000 |
$768,548 |
$11,020 |
2.86% |
Chinese |
1 |
$305,000 |
$305,000 |
$12,639 |
3.00% |
Asian Indian |
1 |
$125,000 |
$125,000 |
$2,490 |
2.88% |
Native Hawaiian |
1 |
$45,000 |
$45,000 |
$0 |
5.00% |
Approval Rates
Total approvals of all applications
83.93%
Ridgewood Savings Bank has a below average approval rate.
Pick Rate
Approvals leading to origination
71.30%
Ridgewood Savings Bank has a below average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
NA |
553 |
$605,715,000 |
$1,095,325 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
553 |
$605,715,000 |
$1,095,325 |
LTV Distribution
Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-40% |
61 |
$31,105,000 |
$509,918 |
$7,363 |
2.81% |
40-60% |
106 |
$84,040,000 |
$792,830 |
$6,850 |
2.95% |
60-80% |
303 |
$431,195,000 |
$1,423,086 |
$12,772 |
3.27% |
80-100% |
69 |
$55,185,000 |
$799,783 |
$10,350 |
3.07% |
Over 100% |
1 |
$415,000 |
$415,000 |
$21,929 |
3.13% |
Under 20% |
13 |
$3,775,000 |
$290,385 |
$4,943 |
3.15% |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
Ridgewood Savings Bank |
1010 Hempstead Turnpike Franklin Square, NY 11010 |
Full Service B&M
|
$241,351 |
Ridgewood Savings Bank |
1770 E. Gun Hill Rd. Bronx, NY 10469 |
Full Service B&M
|
$53,032 |
Ridgewood Savings Bank |
202-16 Rockaway Point Blvd Breezy Point, NY 11697 |
Full Service B&M
|
$198,771 |
Ridgewood Savings Bank |
205-11 Hillside Av Hollis, NY 11423 |
Full Service B&M
|
$174,924 |
Ridgewood Savings Bank |
208-24 Cross Island Parkway Bayside, NY 11360 |
Full Service B&M
|
$100,381 |
Ridgewood Savings Bank |
2080 Bellmore Avenue Bellmore, NY 11710 |
Full Service B&M
|
$202,373 |
Ridgewood Savings Bank |
220 Old Country Rd Hicksville, NY 11801 |
Full Service B&M
|
$182,953 |
Ridgewood Savings Bank |
230-22 Merrick Boulevard Laurelton, NY 11413 |
Full Service B&M
|
$163,842 |
Ridgewood Savings Bank |
2435 Jericho Turnpike Garden City Park, NY 11040 |
Full Service B&M
|
$291,573 |
Ridgewood Savings Bank |
244 Court Street Brooklyn, NY 11201 |
Full Service B&M
|
$54,848 |
Ridgewood Savings Bank |
25-29 Parsons Boulevard Flushing, NY 11354 |
Full Service B&M
|
$258,718 |
Ridgewood Savings Bank |
2520 East 17th Street Brooklyn, NY 11235 |
Full Service B&M
|
$86,276 |
Ridgewood Savings Bank |
317 South Wellwood Avenue Lindenhurst, NY 11757 |
Full Service B&M
|
$95,703 |
Ridgewood Savings Bank |
711 Allerton Ave. Bronx, NY 10467 |
Full Service B&M
|
$56,907 |
Ridgewood Savings Bank |
7124 18th Avenue Brooklyn, NY 11204 |
Full Service B&M
|
$94,002 |
Ridgewood Savings Bank |
74-25 Grand Avenue Elmhurst, NY 11373 |
Full Service B&M
|
$170,516 |
Ridgewood Savings Bank |
835 Atlantic Avenue Baldwin, NY 11510 |
Full Service B&M
|
$161,499 |
Ridgewood Savings Bank |
8522 Third Avenue Brooklyn, NY 11209 |
Full Service B&M
|
$151,448 |
Ridgewood Savings Bank |
3445 Jerome Avenue Bronx, NY 10467 |
Full Service B&M
|
$54,048 |
Ridgewood Savings Bank |
382 Pelham Road New Rochelle, NY 10805 |
Full Service B&M
|
$58,279 |
Ridgewood Savings Bank |
3824 White Plains Road Bronx, NY 10467 |
Full Service B&M
|
$38,758 |
Ridgewood Savings Bank |
3899 Sedgwick Ave. Bronx, NY 10463 |
Full Service B&M
|
$38,523 |
Ridgewood Savings Bank |
43-14 Ditmars Blvd Astoria, NY 11105 |
Full Service B&M
|
$109,576 |
Ridgewood Savings Bank |
50 Farmingdale Road (Nys Route 109) West Babylon, NY 11704 |
Full Service B&M
|
$79,813 |
Ridgewood Savings Bank |
65-01 Myrtle Avenue Glendale, NY 11385 |
Full Service B&M
|
$132,666 |
Ridgewood Savings Bank |
670 Mclean Ave Yonkers, NY 10704 |
Full Service B&M
|
$144,868 |
Ridgewood Savings Bank |
7020 13th Avenue Brooklyn, NY 11228 |
Full Service B&M
|
$60,035 |
Ridgewood Savings Bank |
71-02 Forest Avenue Ridgewood, NY 11385 |
Limited, Mobile/Seasonal Office
|
$866 |
Ridgewood Savings Bank |
71-02 Forest Avenue Ridgewood, NY 11385 |
Full Service Cyber Office
|
$567,010 |
Ridgewood Savings Bank |
7102 Forest Avenue Ridgewood, NY 11385 |
Full Service B&M
|
$571,349 |
Ridgewood Savings Bank |
1035 Fulton Street Brooklyn, NY 11238 |
Full Service B&M
|
$29,557 |
Ridgewood Savings Bank |
107-55 Queens Boulevard Forest Hills, NY 11375 |
Full Service B&M
|
$308,008 |
Ridgewood Savings Bank |
1125 Old Country Road Plainview, NY 11803 |
Full Service B&M
|
$49,748 |
Ridgewood Savings Bank |
1134 Morris Park Avenue Bronx, NY 10461 |
Full Service B&M
|
$75,230 |
Ridgewood Savings Bank |
1404 2nd Avenue New York, NY 10021 |
Full Service B&M
|
$68,101 |
Ridgewood Savings Bank |
1646 First Avenue New York, NY 10028 |
Full Service B&M
|
$109,992 |
Ridgewood Savings Bank |
169 Old Country Road Hicksville, NY 11801 |
Limited, Drive-thru
|
$2,738 |
Ridgewood Savings Bank |
1745 Crosby Avenue Bronx, NY 10461 |
Full Service B&M
|
$39,667 |
For 2021, Ridgewood Savings Bank had 38 branches.
Yearly Performance Overview
Bank Income
Ridgewood Savings Bank's gross interest income from loans was $166,753,000.
Ridgewood Savings Bank's net interest income from loans was $129,658,000.
Ridgewood Savings Bank's fee based income from loans was $2,279,000.
Ridgewood Savings Bank's net income from loans was $43,627,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$37,095 |
Provision for credit losses |
$-204 |
Total noninterest expense |
$101,865 |
Salaries and employee benefits |
$59,329 |
Premises and equipment expense |
$18,514 |
Additional noninterest expense |
$24,022 |
Applicable income taxes |
$12,776 |
Net charge-offs |
$345 |
Cash dividends |
$0 |
Ridgewood Savings Bank's interest expense for loans was $37,095,000.
Ridgewood Savings Bank's payroll and benefits expense were $59,329,000.
Ridgewood Savings Bank's property, plant and equipment expenses $18,514,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$5,417,337 |
Deposits held in domestic offices |
$5,417,337 |
Deposits by Individuals, partnerships, and corporations |
$5,371,236 |
Deposits by U.S. Government |
$736 |
Deposits by States and political subdivisions in the U.S. |
$45,123 |
Deposits by Commercial banks and other depository institutions in U.S. |
$243 |
Deposits by Banks in foreign countries |
$0 |
Deposits by Foreign governments and official institutions |
$0 |
Transaction accounts |
$157,194 |
Demand deposits |
$116,206 |
Nontransaction accounts |
$5,260,144 |
Money market deposit accounts (MMDAs) |
$278,368 |
Other savings deposits (excluding MMDAs) |
$3,118,663 |
Total time deposits |
$1,863,112 |
Total time and savings deposits |
$5,301,132 |
Noninterest-bearing deposits |
$543,962 |
Interest-bearing deposits |
$4,873,375 |
Retail deposits |
$4,983,348 |
IRAs and Keogh plan accounts |
$407,961 |
Brokered deposits |
$0 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$6,765,343 |
Cash & Balances due from depository institutions |
$236,526 |
Interest-bearing balances |
$201,347 |
Total securities |
$2,176,095 |
Federal funds sold & reverse repurchase |
$222,575 |
Net loans and leases |
$3,803,912 |
Loan and leases loss allowance |
$26,757 |
Trading account assets |
$0 |
Bank premises and fixed assets |
$15,462 |
Other real estate owned |
$215 |
Goodwill and other intangibles |
$80,205 |
All other assets |
$230,353 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$6,765,343 |
Total Liabilities |
$5,909,067 |
Total deposits |
$5,417,337 |
Interest-bearing deposits |
$4,873,375 |
Deposits held in domestic offices |
$5,417,337 |
% insured (estimated) |
$90 |
Federal funds purchased and repurchase agreements |
$0 |
Trading liabilities |
$0 |
Other borrowed funds |
$392,847 |
Subordinated debt |
$0 |
All other liabilities |
$98,883 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$3,803,912 |
Loan and leases loss allowance |
$26,757 |
Total loans and leases (domestic) |
$3,830,669 |
All real estate loans |
$3,795,842 |
Real estate loans in domestic offices |
$3,795,842 |
Construction and development loans |
$980 |
Residential 1-4 family construction |
$0 |
Other construction, all land development and other land |
$980 |
Loans secured by nonfarm nonresidential properties |
$159,414 |
Nonfarm nonresidential secured by owner-occupied properties |
$0 |
Commercial real estate & other non-farm, non-residential |
$159,414 |
Multifamily residential real estate |
$1,820,548 |
1-4 family residential loans |
$1,814,900 |
Farmland loans |
$0 |
Loans held in foreign offices |
$0 |
Farm loans |
$0 |
Commercial and industrial loans |
$17,446 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$5,700 |
Credit card loans |
$418 |
Related Plans |
$241 |
Consumer Auto Loans |
$0 |
Other loans to individuals |
$5,041 |
All other loans & leases |
$12,299 |
Loans to foreign governments and official institutions |
$0 |
Other loans |
$12,299 |
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 |
Ridgewood Savings Bank had $3,803,912,000 of loans outstanding in 2021. $3,795,842,000 of loans were in real estate loans.
$980,000 of loans were in development loans. $1,820,548,000 of loans were in multifamily mortgage loans.
$1,814,900,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $418,000
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 |
21 |
$14,817 |
$705,571 |
Nonfarm, nonresidential loans - $100-250k |
1 |
$196 |
$196,000 |
Nonfarm, nonresidential loans - $250k-1MM |
20 |
$14,621 |
$731,050 |
Commercial & Industrial, US addressed loans - <$1MM |
84 |
$5,127 |
$61,036 |
Commercial & Industrial, US addressed loans - <$100k |
67 |
$651 |
$9,716 |
Commercial & Industrial, US addressed loans - $100-250k |
11 |
$1,791 |
$162,818 |
Commercial & Industrial, US addressed loans - $250k-1MM |
6 |
$2,685 |
$447,500 |