Habib American Bank Mortgage Rates, Fees & Info

New York, NY

LEI: 549300YV77ZZ5ADLO929

Tax ID: 13-3173929

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Habib American Bank is a smaller bank specializing in Refi loans. Habib American Bank has a high proportion of conventional loans. Their top markets include New York, Los Angeles, Riverside, Las Vegas, and Bridgeport among others. Habib American 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.


Originations

112

Origination Dollar Volume (All Markets)

$107,350,000

Employee count

156

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 88 $74,900,000 $851,136 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 17 $15,265,000 $897,941 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $7,975,000 $2,658,333 $0 0.00%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $7,305,000 $7,305,000 $0 0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $855,000 $855,000 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $685,000 $685,000 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%

Habib American Bank's top markets include New York, Los Angeles, Riverside, Las Vegas, and Bridgeport among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 112 $107,350,000 $958,482 $0 0.00%

For the 2021 period, Habib American Bank's most frequently originated loan type of loans were Conventional, with 112 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 78 $86,690,000 $1,111,410 $0 0.00%
Home Purchase 34 $20,660,000 $607,647 $0 0.00%

For the 2021, Habib American Bank's most frequently cited loan purpose of loans were Refi, with 78 originations. The 2nd most popular reason of loans were Home Purchase, with 34 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 112 $107,350,000 $958,482 $0 0.00%

For the 2021, Habib American Bank's most frequently cited loan length of loans were Other, with 112 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$600k-1MM 45 $33,275,000 $739,444 $0 0.00%
$1MM+ 27 $56,895,000 $2,107,222 $0 0.00%
$400k-600k 26 $12,750,000 $490,385 $0 0.00%
$200k-400k 13 $4,245,000 $326,538 $0 0.00%
$100k-200k 1 $185,000 $185,000 $0 0.00%

2021 saw Habib American Bank place emphasis on $600k-1MM loans with 45 originations, totaling $33,275,000 in origination value.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 112 $107,350,000 $958,482 $0 0.00%

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 110 $106,330,000 $966,636 $0 0.00%
Asian 2 $1,020,000 $510,000 $0 0.00%

Approval Rates

Total approvals of all applications
96.61%

Habib American Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
93.88%

Habib American Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 112 $107,350,000 $958,482

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
112 $107,350,000 $958,482

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
HOPE BANCORP, INC. Conventional home mortgage Closing on a mortgage 1 12.5%
HOPE BANCORP, INC. Conventional home mortgage Trouble during payment process 6 75.0%
HOPE BANCORP, INC. Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 12.5%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Habib American Bank 421 South Broadway Hicksville, NY 11801 Full Service B&M $190,039
Habib American Bank 1585 Oak Tree Road Iselin, NJ 8830 Full Service B&M $131,018
Habib American Bank 18357 Pioneer Boulevard Artesia, CA 90701 Full Service B&M $178,530
Habib American Bank 19 Liberty Avenue South Richmond Hill, NY 11419 Full Service B&M $47,266
Habib American Bank 74-01 37th Avenue Jackson Heights, NY 11372 Full Service B&M $114,772
Habib American Bank 928 S Broadway, Suite F Los Angeles, CA 90015 Full Service B&M $199,045
Habib American Bank 99 Madison Avenue New York, NY 10016 Full Service B&M $291,376

For 2021, Habib American Bank had 7 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $52,795
Net interest income $46,128
Total noninterest income $28,234
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,891
Trading account gains and fees $0
Additional Noninterest Income $26,343
Pre-tax net operating income $36,460
Securities gains (or losses, -) $-71
Income before extraordinary items $25,363
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $25,363
Minority interest net income $0
Net income $25,363
Sale, conversion, retirement of capital stock, net $0
Net operating income $25,419

Habib American Bank's gross interest income from loans was $52,795,000.
Habib American Bank's net interest income from loans was $46,128,000.
Habib American Bank's fee based income from loans was $1,891,000.
Habib American Bank's net income from loans was $25,363,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $6,667
Provision for credit losses $750
Total noninterest expense $37,152
Salaries and employee benefits $21,613
Premises and equipment expense $6,561
Additional noninterest expense $8,978
Applicable income taxes $11,026
Net charge-offs $-9
Cash dividends $7,500

Habib American Bank's interest expense for loans was $6,667,000.
Habib American Bank's payroll and benefits expense were $21,613,000.
Habib American Bank's property, plant and equipment expenses $6,561,000.

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 6.0%
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 $1,616,291
Deposits held in domestic offices $1,212,970
Deposits by Individuals, partnerships, and corporations $1,085,083
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $0
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $127,888
Deposits by Foreign governments and official institutions $0
Transaction accounts $424,411
Demand deposits $424,352
Nontransaction accounts $788,560
Money market deposit accounts (MMDAs) $272,808
Other savings deposits (excluding MMDAs) $9,883
Total time deposits $505,870
Total time and savings deposits $788,619
Noninterest-bearing deposits $424,410
Interest-bearing deposits $788,560
Retail deposits $1,010,257
IRAs and Keogh plan accounts $25,387
Brokered deposits $0
Deposits held in foreign offices $403,321

Assets

Asset Value (in 000's)
Total Assets $1,942,111
Cash & Balances due from depository institutions $436,942
Interest-bearing balances $429,397
Total securities $255,366
Federal funds sold & reverse repurchase $0
Net loans and leases $1,172,062
Loan and leases loss allowance $20,032
Trading account assets $0
Bank premises and fixed assets $31,604
Other real estate owned $390
Goodwill and other intangibles $2,597
All other assets $43,150

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,942,111
Total Liabilities $1,743,145
Total deposits $1,616,291
Interest-bearing deposits $1,191,881
Deposits held in domestic offices $1,212,970
% insured (estimated) $16
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $100,000
Subordinated debt $0
All other liabilities $26,854

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,172,062
Loan and leases loss allowance $20,032
Total loans and leases (domestic) $1,192,094
All real estate loans $1,106,984
Real estate loans in domestic offices $1,106,984
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 $834,933
Nonfarm nonresidential secured by owner-occupied properties $181,256
Commercial real estate & other non-farm, non-residential $653,677
Multifamily residential real estate $83,578
1-4 family residential loans $188,473
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $40,995
To non-U.S. addressees $0
Loans to individuals $6,769
Credit card loans $0
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $6,769
All other loans & leases $39,205
Loans to foreign governments and official institutions $0
Other loans $0
Loans to depository institutions and acceptances of other banks $39,205
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) $34,878

Habib American Bank had $1,172,062,000 of loans outstanding in 2021. $1,106,984,000 of loans were in real estate loans. $0 of loans were in development loans. $83,578,000 of loans were in multifamily mortgage loans. $188,473,000 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 495 $251,857 $508,802
Nonfarm, nonresidential loans - <$100k 2 $160 $80,000
Nonfarm, nonresidential loans - $100-250k 42 $7,777 $185,167
Nonfarm, nonresidential loans - $250k-1MM 451 $243,920 $540,843
Commercial & Industrial, US addressed loans - <$1MM 152 $18,695 $122,993
Commercial & Industrial, US addressed loans - <$100k 75 $1,392 $18,560
Commercial & Industrial, US addressed loans - $100-250k 38 $3,455 $90,921
Commercial & Industrial, US addressed loans - $250k-1MM 39 $13,848 $355,077