Ridgewood Savings Bank Mortgage Rates, Fees & Info
Ridgewood, NYLEI: 549300YLIY5SO2XSK094
Tax ID: 11-1241830
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Mortgage Data
Bank Data
Review & Overview
Ridgewood Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Ridgewood Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Bridgeport, and Poughkeepsie among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Ridgewood Savings 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. Ridgewood Savings Bank is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.31% | 9/1/24 |
30 Year Conventional Refi | 6.22% | 9/1/24 |
30 Year Cash-out Refi | 6.21% | 9/1/24 |
15 Year Conventional Purchase | 5.53% | 9/1/24 |
15 Year Conventional Refi | 5.51% | 9/1/24 |
15 Year Cash-out Refi | 5.51% | 9/1/24 |
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. |
Ridgewood Savings Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
654Origination Dollar Volume (All Markets)
$671,110,000Employee count
603 Show all (3) awardsRidgewood Savings Bank - 2018
Ridgewood Savings Bank is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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Top 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 |
---|---|---|---|---|---|
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 579 | $599,585,000 | $1,035,553 | $8,258 | 4.04% |
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 73 | $63,215,000 | $865,959 | $7,254 | 3.94% |
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 2 | $8,310,000 | $4,155,000 | $0 | 3.94% |
Similar Lenders
We use machine learning to identify the top lenders compared against Ridgewood Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
---|---|---|---|---|---|
Conventional | 652 | $668,850,000 | $1,025,844 | $8,115 | 4.03% |
HELOC | 2 | $2,260,000 | $1,130,000 | n/a | 4.25% |
For 2018, Ridgewood Savings Bank's most frequently originated type of loan was Conventional, with 652 originations. Their 2nd most popular type was HELOC, with 2 originations.
Loan Reason
For 2018, Ridgewood Savings Bank's most frequently cited loan purpose was Home Purchase, with 300 originations. The 2nd most popular reason was Cash Out Refi, with 242 originations.
Loan Duration/Length
For 2018, Ridgewood Savings Bank's most frequently cited loan duration was 30 Year, with 371 originations. The 2nd most popular length was 10 Year, with 114 originations.
Origination Fees/Closing Costs
Ridgewood Savings Bank's average total fees were $8,199, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 323 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 351 | $387,975,000 | $1,105,342 |
4-5% | 288 | $277,250,000 | $962,674 |
5-6% | 8 | $2,200,000 | $275,000 |
2.5-3% | 7 | $3,685,000 | $526,429 |
During 2018, Ridgewood Savings Bank's average interest rate for loans was 3.97%, while their most frequently originated rate bucket for loans was 3-4%, with 351 originations.
Loan Sizing
2018 saw Ridgewood Savings Bank place emphasis on $1MM+ loans with 207 originations, totaling $434,745,000 in origination value.
Applicant Income
Ridgewood Savings Bank lent most frequently to those with incomes in the $250k+ range, with 220 originations. The second most popular income band? $150k-250k, with 160 originations.
Applicant Debt to Income Ratio
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 117 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.12%
Ridgewood Savings Bank has a below average approval rate.
Pick Rate
Approvals leading to origination72.02%
Ridgewood Savings Bank has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 654 | $671,110,000 | $1,026,162 |
Occupancy Type Mix
Dwelling Type | Originations | Total Value | Average Loan |
---|---|---|---|
Multifamily:Site-Built | 112 | $293,030,000 | $2,616,339 |
Single Family (1-4 Units):Site-Built | 542 | $378,080,000 | $697,565 |
LTV Distribution
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 | $220,580 |
Ridgewood Savings Bank | 1035 Fulton Street Brooklyn, NY 11238 | Full Service B&M | $23,301 |
Ridgewood Savings Bank | 107-55 Queens Boulevard Forest Hills, NY 11375 | Full Service B&M | $275,468 |
Ridgewood Savings Bank | 1125 Old Country Road Plainview, NY 11803 | Full Service B&M | $21,509 |
Ridgewood Savings Bank | 1134 Morris Park Avenue Bronx, NY 10461 | Full Service B&M | $67,017 |
Ridgewood Savings Bank | 1404 2nd Avenue New York, NY 10021 | Full Service B&M | $58,325 |
Ridgewood Savings Bank | 1646 First Avenue New York, NY 10028 | Full Service B&M | $101,673 |
Ridgewood Savings Bank | 169 Old Country Road Hicksville, NY 11801 | Limited, Drive-thru | $3,596 |
Ridgewood Savings Bank | 1745 Crosby Avenue Bronx, NY 10461 | Full Service B&M | $36,096 |
Ridgewood Savings Bank | 1770 E. Gun Hill Rd. Bronx, NY 10469 | Full Service B&M | $44,387 |
Ridgewood Savings Bank | 202-16 Rockaway Point Blvd Breezy Point, NY 11697 | Full Service B&M | $169,925 |
Ridgewood Savings Bank | 205-11 Hillside Av Hollis, NY 11423 | Full Service B&M | $144,346 |
Ridgewood Savings Bank | 208-24 Cross Island Parkway Bayside, NY 11360 | Full Service B&M | $82,312 |
Ridgewood Savings Bank | 2080 Bellmore Avenue Bellmore, NY 11710 | Full Service B&M | $171,292 |
Ridgewood Savings Bank | 220 Old Country Rd Hicksville, NY 11801 | Full Service B&M | $166,840 |
Ridgewood Savings Bank | 230-22 Merrick Boulevard Laurelton, NY 11413 | Full Service B&M | $133,530 |
Ridgewood Savings Bank | 2435 Jericho Turnpike Garden City Park, NY 11040 | Full Service B&M | $250,541 |
Ridgewood Savings Bank | 244 Court Street Brooklyn, NY 11201 | Full Service B&M | $46,704 |
Ridgewood Savings Bank | 25-29 Parsons Boulevard Flushing, NY 11354 | Full Service B&M | $246,911 |
Ridgewood Savings Bank | 2520 East 17th Street Brooklyn, NY 11235 | Full Service B&M | $65,429 |
Ridgewood Savings Bank | 317 South Wellwood Avenue Lindenhurst, NY 11757 | Full Service B&M | $90,053 |
Ridgewood Savings Bank | 3445 Jerome Avenue Bronx, NY 10467 | Full Service B&M | $44,752 |
Ridgewood Savings Bank | 382 Pelham Road New Rochelle, NY 10805 | Full Service B&M | $45,030 |
Ridgewood Savings Bank | 3824 White Plains Road Bronx, NY 10467 | Full Service B&M | $33,806 |
Ridgewood Savings Bank | 3899 Sedgwick Ave. Bronx, NY 10463 | Full Service B&M | $28,842 |
Ridgewood Savings Bank | 43-14 Ditmars Blvd Astoria, NY 11105 | Full Service B&M | $95,027 |
Ridgewood Savings Bank | 50 Farmingdale Road (Nys Route 109) West Babylon, NY 11704 | Full Service B&M | $68,368 |
Ridgewood Savings Bank | 65-01 Myrtle Avenue Glendale, NY 11385 | Full Service B&M | $107,874 |
Ridgewood Savings Bank | 670 Mclean Ave Yonkers, NY 10704 | Full Service B&M | $130,404 |
Ridgewood Savings Bank | 7020 13th Avenue Brooklyn, NY 11228 | Full Service B&M | $46,845 |
Ridgewood Savings Bank | 71-02 Forest Avenue Ridgewood, NY 11385 | Limited, Mobile/Seasonal Office | $2,508 |
Ridgewood Savings Bank | 71-02 Forest Avenue Ridgewood, NY 11385 | Full Service Cyber Office | $172,648 |
Ridgewood Savings Bank | 7102 Forest Avenue Ridgewood, NY 11385 | Full Service B&M | $489,035 |
Ridgewood Savings Bank | 711 Allerton Ave. Bronx, NY 10467 | Full Service B&M | $52,055 |
Ridgewood Savings Bank | 7124 18th Avenue Brooklyn, NY 11204 | Full Service B&M | $86,777 |
Ridgewood Savings Bank | 74-25 Grand Avenue Elmhurst, NY 11373 | Full Service B&M | $156,755 |
Ridgewood Savings Bank | 835 Atlantic Avenue Baldwin, NY 11510 | Full Service B&M | $147,476 |
Ridgewood Savings Bank | 8522 Third Avenue Brooklyn, NY 11209 | Full Service B&M | $134,711 |
For 2018, Ridgewood Savings Bank had 38 branches.
Yearly Performance Overview
Bank Income
Item | Value (in 000's) |
---|---|
Total interest income | $170,379 |
Net interest income | $122,869 |
Total noninterest income | $11,923 |
Gross Fiduciary activities income | $0 |
Service charges on deposit accounts | $3,598 |
Trading account gains and fees | $0 |
Additional Noninterest Income | $8,325 |
Pre-tax net operating income | $32,053 |
Securities gains (or losses, -) | $11,143 |
Income before extraordinary items | $35,200 |
Discontinued Operations (Extraordinary gains, net) | $0 |
Net income of bank and minority interests | $35,200 |
Minority interest net income | $13 |
Net income | $35,187 |
Sale, conversion, retirement of capital stock, net | $0 |
Net operating income | $26,174 |
Ridgewood Savings Bank's gross interest income from loans was $170,379,000.
Ridgewood Savings Bank's net interest income from loans was $122,869,000.
Ridgewood Savings Bank's fee based income from loans was $3,598,000.
Ridgewood Savings Bank's net income from loans was $35,187,000.
Bank Expenses
Item | Value (in 000's) |
---|---|
Total interest expense | $47,510 |
Provision for credit losses | $4,977 |
Total noninterest expense | $97,762 |
Salaries and employee benefits | $56,813 |
Premises and equipment expense | $16,249 |
Additional noninterest expense | $24,700 |
Applicable income taxes | $7,996 |
Net charge-offs | $834 |
Cash dividends | $0 |
Ridgewood Savings Bank's interest expense for loans was $47,510,000.
Ridgewood Savings Bank's payroll and benefits expense were $56,813,000.
Ridgewood Savings Bank's property, plant and equipment expenses $16,249,000.
Loan Performance
Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
---|---|
All loans | 1.0% |
Real Estate loans | 1.0% |
Construction & Land Development loans | 0.0% |
Nonfarm, nonresidential loans | 0.0% |
Multifamily residential loans | 0.0% |
1-4 family residential loans | 1.0% |
HELOC loans | 4.0% |
All other family | 1.0% |
Commercial & industrial loans | 0.0% |
Personal loans | 2.0% |
Credit card loans | 0.0% |
Other individual loans | 2.0% |
Auto loans | 0.0% |
Other consumer loans | 2.0% |
Unsecured commercial real estate loans | 0.0% |
Deposits
Type | Value (in 000's) |
---|---|
Total deposits | $4,304,341 |
Deposits held in domestic offices | $4,304,341 |
Deposits by Individuals, partnerships, and corporations | $4,259,321 |
Deposits by U.S. Government | $559 |
Deposits by States and political subdivisions in the U.S. | $44,212 |
Deposits by Commercial banks and other depository institutions in U.S. | $250 |
Deposits by Banks in foreign countries | $0 |
Deposits by Foreign governments and official institutions | $0 |
Transaction accounts | $124,115 |
Demand deposits | $95,248 |
Nontransaction accounts | $4,180,227 |
Money market deposit accounts (MMDAs) | $217,431 |
Other savings deposits (excluding MMDAs) | $2,221,503 |
Total time deposits | $1,741,292 |
Total time and savings deposits | $4,209,094 |
Noninterest-bearing deposits | $386,607 |
Interest-bearing deposits | $3,917,734 |
Retail deposits | $3,977,601 |
IRAs and Keogh plan accounts | $382,156 |
Brokered deposits | $0 |
Deposits held in foreign offices | $0 |
Assets
Asset | Value (in 000's) |
---|---|
Total Assets | $5,534,383 |
Cash & Balances due from depository institutions | $101,311 |
Interest-bearing balances | $71,910 |
Total securities | $1,305,130 |
Federal funds sold & reverse repurchase | $0 |
Net loans and leases | $3,843,835 |
Loan and leases loss allowance | $23,290 |
Trading account assets | $0 |
Bank premises and fixed assets | $14,917 |
Other real estate owned | $38 |
Goodwill and other intangibles | $80,207 |
All other assets | $188,945 |
Liabilities
Liabilities | Value (in 000's) |
---|---|
Total liabilities and capital | $5,534,383 |
Total Liabilities | $4,814,893 |
Total deposits | $4,304,341 |
Interest-bearing deposits | $3,917,734 |
Deposits held in domestic offices | $4,304,341 |
% insured (estimated) | $92 |
Federal funds purchased and repurchase agreements | $0 |
Trading liabilities | $0 |
Other borrowed funds | $422,085 |
Subordinated debt | $0 |
All other liabilities | $88,467 |
Issued Loan Types
Type | Value (in 000's) |
---|---|
Net loans and leases | $3,843,835 |
Loan and leases loss allowance | $23,290 |
Total loans and leases (domestic) | $3,867,125 |
All real estate loans | $3,857,177 |
Real estate loans in domestic offices | $3,857,177 |
Construction and development loans | $0 |
Residential 1-4 family construction | $0 |
Other construction, all land development and other land | $0 |
Loans secured by nonfarm nonresidential properties | $232,978 |
Nonfarm nonresidential secured by owner-occupied properties | $0 |
Commercial real estate & other non-farm, non-residential | $232,978 |
Multifamily residential real estate | $1,558,160 |
1-4 family residential loans | $2,066,039 |
Farmland loans | $0 |
Loans held in foreign offices | $0 |
Farm loans | $0 |
Commercial and industrial loans | $111 |
To non-U.S. addressees | $0 |
Loans to individuals | $4,233 |
Credit card loans | $0 |
Related Plans | $393 |
Consumer Auto Loans | $0 |
Other loans to individuals | $3,840 |
All other loans & leases | $5,909 |
Loans to foreign governments and official institutions | $0 |
Other loans | $5,909 |
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 | $16,218 |
Non 1-4 family restructured loans & leases | $16,218 |
Total loans and leases (foreign) | $0 |
Ridgewood Savings Bank had $3,843,835,000 of loans outstanding in 2018. $3,857,177,000 of loans were in real estate loans. $0 of loans were in development loans. $1,558,160,000 of loans were in multifamily mortgage loans. $2,066,039,000 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 | 22 | $14,855 | $675,227 |
Nonfarm, nonresidential loans - $100-250k | 1 | $215 | $215,000 |
Nonfarm, nonresidential loans - $250k-1MM | 21 | $14,640 | $697,143 |
Commercial & Industrial, US addressed loans - <$1MM | 5 | $111 | $22,200 |
Commercial & Industrial, US addressed loans - <$100k | 4 | $36 | $9,000 |
Commercial & Industrial, US addressed loans - $100-250k | 1 | $75 | $75,000 |