Franklin Bank Mortgage Rates, Fees & Info

Pilesgrove, NJ

LEI: 549300Z1HPXY3UYVL049

Tax ID: 21-0454410

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Franklin Bank is a smaller bank specializing in Home Purchase and Refi loans. Franklin Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Ocean City, Atlantic City, and Vineland among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Franklin 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.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    111

    Origination Dollar Volume (All Markets)

    $17,375,000

    Employee count

    63

    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
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 82 $11,850,000 $144,512 $0 4.46%
    OCEAN CITY, NJ (FHA|USDA|VA) 11 $2,205,000 $200,455 $0 4.59%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 8 $2,060,000 $257,500 $0 4.30%
    VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 10 $1,260,000 $126,000 $0 4.59%
    Franklin Bank's top markets include Philadelphia, Ocean City, Atlantic City, and Vineland among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 111 $17,375,000 $156,532 $0 4.47%

    For 2019, Franklin Bank's most frequently originated type of loan was Conventional, with 111 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 43 $10,045,000 $233,605 $0 4.28%
    Refi 31 $5,375,000 $173,387 $0 4.44%
    Home Improvement 20 $1,120,000 $56,000 $0 4.71%
    Other 17 $835,000 $49,118 $0 4.73%

    For 2019, Franklin Bank's most frequently cited loan purpose was Home Purchase, with 43 originations. The 2nd most popular reason was Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 111 $17,375,000 $156,532 $0 4.47%

    For 2019, Franklin Bank's most frequently cited loan duration was Other, with 111 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 62 $7,500,000 $120,968
    3-4% 33 $8,155,000 $247,121
    5-6% 15 $1,605,000 $107,000
    6-7% 1 $115,000 $115,000

    During 2019, Franklin Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 62 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 53 $2,415,000 $45,566 $0 4.61%
    $100k-200k 27 $3,755,000 $139,074 $0 4.60%
    $200k-400k 25 $7,395,000 $295,800 $0 4.13%
    $400k-600k 3 $1,585,000 $528,333 $0 4.29%
    $600k-1MM 3 $2,225,000 $741,667 $0 3.92%

    2019 saw Franklin Bank place emphasis on $100,000 or less loans with 53 originations, totaling $2,415,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $4,255,000 $185,000 $0 4.29%
    $75k-100k 22 $2,310,000 $105,000 $0 4.60%
    $150k-250k 20 $3,240,000 $162,000 $0 4.54%
    $50k-75k 18 $1,660,000 $92,222 $0 4.46%
    $50k or less 15 $975,000 $65,000 $0 4.44%
    $250k+ 8 $3,850,000 $481,250 $0 4.16%

    Franklin Bank lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $75k-100k, with 22 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 111 $17,375,000 $156,532 $0 4.47%

    Franklin Bank lent most frequently to those with DTI ratios of Exempt%, with 111 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 102 $16,820,000 $164,902 $0 4.45%
    Black 4 $230,000 $57,500 $0 4.25%
    Not applicable 2 $230,000 $115,000 $0 5.98%
    Not provided 2 $50,000 $25,000 $0 4.63%
    Asian 1 $45,000 $45,000 $0 4.50%

    Approval Rates

    Total approvals of all applications
    79.62%

    Franklin Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    88.29%

    Franklin Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 111 $17,375,000 $156,532

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 111 $17,375,000 $156,532

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    FRANKLIN FIRST FINANCIAL, LTD Conventional home mortgage Struggling to pay mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Franklin Bank 1179 Route 40 Pilesgrove, NJ 8098 Full Service B&M $53,962
    Franklin Bank 137 West Broadway Salem, NJ 8079 Full Service B&M $41,191
    Franklin Bank 2039 Delsea Drive Franklinville, NJ 8322 Full Service B&M $28,989
    Franklin Bank 2584 North Route 9 Ocean View, NJ 8230 Full Service B&M $22,445
    Franklin Bank 260 N Broadway Pennsville, NJ 8070 Full Service B&M $47,400
    Franklin Bank 99 Center Square Road Woolwich Township, NJ 8085 Full Service B&M $34,657

    For 2019, Franklin Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $9,579
    Net interest income $8,687
    Total noninterest income $1,564
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $784
    Trading account gains and fees $0
    Additional Noninterest Income $780
    Pre-tax net operating income $1,744
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,257
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,257
    Minority interest net income $0
    Net income $1,257
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,257

    Franklin Bank's gross interest income from loans was $9,579,000.
    Franklin Bank's net interest income from loans was $8,687,000.
    Franklin Bank's fee based income from loans was $784,000.
    Franklin Bank's net income from loans was $1,257,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $892
    Provision for credit losses $44
    Total noninterest expense $8,463
    Salaries and employee benefits $4,530
    Premises and equipment expense $1,197
    Additional noninterest expense $2,736
    Applicable income taxes $487
    Net charge-offs $27
    Cash dividends $0

    Franklin Bank's interest expense for loans was $892,000.
    Franklin Bank's payroll and benefits expense were $4,530,000.
    Franklin Bank's property, plant and equipment expenses $1,197,000.

    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 0.0%
    Personal loans 4.0%
    Credit card loans 0.0%
    Other individual loans 4.0%
    Auto loans 0.0%
    Other consumer loans 4.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $232,998
    Deposits held in domestic offices $232,998
    Deposits by Individuals, partnerships, and corporations $223,703
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,295
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $95,101
    Demand deposits $22,017
    Nontransaction accounts $137,897
    Money market deposit accounts (MMDAs) $17,773
    Other savings deposits (excluding MMDAs) $64,569
    Total time deposits $55,555
    Total time and savings deposits $210,981
    Noninterest-bearing deposits $22,500
    Interest-bearing deposits $210,498
    Retail deposits $230,601
    IRAs and Keogh plan accounts $15,362
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $260,313
    Cash & Balances due from depository institutions $41,520
    Interest-bearing balances $40,322
    Total securities $35,541
    Federal funds sold & reverse repurchase $0
    Net loans and leases $171,903
    Loan and leases loss allowance $1,559
    Trading account assets $0
    Bank premises and fixed assets $4,492
    Other real estate owned $0
    Goodwill and other intangibles $6
    All other assets $6,851

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $260,313
    Total Liabilities $234,353
    Total deposits $232,998
    Interest-bearing deposits $210,498
    Deposits held in domestic offices $232,998
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,355

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $171,903
    Loan and leases loss allowance $1,559
    Total loans and leases (domestic) $173,462
    All real estate loans $157,436
    Real estate loans in domestic offices $157,436
    Construction and development loans $5,418
    Residential 1-4 family construction $3,603
    Other construction, all land development and other land $1,815
    Loans secured by nonfarm nonresidential properties $29,646
    Nonfarm nonresidential secured by owner-occupied properties $29,646
    Commercial real estate & other non-farm, non-residential $0
    Multifamily residential real estate $1,377
    1-4 family residential loans $120,609
    Farmland loans $386
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $11,842
    To non-U.S. addressees $0
    Loans to individuals $4,184
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $265
    Other loans to individuals $3,919
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $221
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Franklin Bank had $171,903,000 of loans outstanding in 2019. $157,436,000 of loans were in real estate loans. $5,418,000 of loans were in development loans. $1,377,000 of loans were in multifamily mortgage loans. $120,609,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $265,000 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 83 $29,646 $357,181
    Nonfarm, nonresidential loans - <$100k 7 $355 $50,714
    Nonfarm, nonresidential loans - $100-250k 41 $6,181 $150,756
    Nonfarm, nonresidential loans - $250k-1MM 35 $23,110 $660,286
    Commercial & Industrial, US addressed loans - <$1MM 73 $11,842 $162,219
    Commercial & Industrial, US addressed loans - <$100k 27 $1,385 $51,296
    Commercial & Industrial, US addressed loans - $100-250k 18 $1,644 $91,333
    Commercial & Industrial, US addressed loans - $250k-1MM 28 $8,813 $314,750
    Farmland loans - <$1MM 1 $386 $386,000
    Farmland loans - $250k-1MM 1 $386 $386,000