Waterford Bank N.a. Mortgage Rates, Fees & Info
Toledo, OH
LEI: 549300Z8EM6P4IUIYG50
Tax ID: 11-3809585
Jump to:
Mortgage Data
Bank Data
Overview
Waterford Bank N.a. is a
smaller
bank
specializing in
Home Purchase, Refi, and Cash Out Refi loans.
Waterford Bank N.a. has a high proportion of conventional loans.
They have a a low proportion of FHA loans. (This may mean they shy away from
first time homebuyers.)
They have a low ratio of USDA loans.
Their top markets include Toledo, Flint, Detroit, Denver, and Monroe among others. Waterford Bank N.a. has
an above average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Originations
339
Origination Dollar Volume (All Markets)
$97,625,000
Employee count
107
Top Markets
| Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
|
TOLEDO, OH (FHA|USDA|VA)
|
242
|
$63,230,000 |
$261,281 |
$0 |
0.00% |
|
FLINT, MI (FHA|USDA|VA)
|
3
|
$8,235,000 |
$2,745,000 |
$0 |
0.00% |
|
Detroit-Warren-Dearborn, MI (FHA|USDA|VA)
|
29
|
$7,485,000 |
$258,103 |
$0 |
0.00% |
|
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA)
|
8
|
$3,160,000 |
$395,000 |
$0 |
0.00% |
|
MONROE, MI (FHA|USDA|VA)
|
11
|
$2,385,000 |
$216,818 |
$0 |
0.00% |
|
Outside of Metro Areas
|
6 |
$1,780,000 |
$296,667 |
$0 |
0.00% |
|
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA)
|
3
|
$1,165,000 |
$388,333 |
$0 |
0.00% |
|
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA)
|
1
|
$1,015,000 |
$1,015,000 |
$0 |
0.00% |
|
Findlay, OH (FHA|USDA|VA)
|
4
|
$950,000 |
$237,500 |
$0 |
0.00% |
|
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)
|
1
|
$825,000 |
$825,000 |
$0 |
0.00% |
|
Adrian, MI (FHA|USDA|VA)
|
2
|
$750,000 |
$375,000 |
$0 |
0.00% |
|
Traverse City, MI (FHA|USDA|VA)
|
2
|
$750,000 |
$375,000 |
$0 |
0.00% |
|
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA)
|
2
|
$610,000 |
$305,000 |
$0 |
0.00% |
|
CLEVELAND-ELYRIA, OH (FHA|USDA|VA)
|
2
|
$530,000 |
$265,000 |
$0 |
0.00% |
|
Outside of Metro Areas
|
1 |
$525,000 |
$525,000 |
$0 |
0.00% |
|
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA)
|
1
|
$505,000 |
$505,000 |
$0 |
0.00% |
|
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA)
|
1
|
$385,000 |
$385,000 |
$0 |
0.00% |
|
RALEIGH-CARY, NC (FHA|USDA|VA)
|
1
|
$365,000 |
$365,000 |
$0 |
0.00% |
|
Defiance, OH (FHA|USDA|VA)
|
2
|
$310,000 |
$155,000 |
$0 |
0.00% |
|
GRAND RAPIDS-KENTWOOD, MI (FHA|USDA|VA)
|
2
|
$290,000 |
$145,000 |
$0 |
0.00% |
|
GULFPORT-BILOXI, MS (FHA|USDA|VA)
|
1
|
$275,000 |
$275,000 |
$0 |
0.00% |
|
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)
|
1
|
$245,000 |
$245,000 |
$0 |
0.00% |
|
Morehead City, NC (FHA|USDA|VA)
|
1
|
$235,000 |
$235,000 |
$0 |
0.00% |
|
PITTSBURGH, PA (FHA|USDA|VA)
|
1
|
$215,000 |
$215,000 |
$0 |
0.00% |
|
MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA)
|
1
|
$195,000 |
$195,000 |
$0 |
0.00% |
|
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA)
|
1
|
$185,000 |
$185,000 |
$0 |
0.00% |
|
MANSFIELD, OH (FHA|USDA|VA)
|
1
|
$175,000 |
$175,000 |
$0 |
0.00% |
|
Fremont, OH (FHA|USDA|VA)
|
1
|
$175,000 |
$175,000 |
$0 |
0.00% |
|
DAYTON-KETTERING, OH (FHA|USDA|VA)
|
2
|
$160,000 |
$80,000 |
$0 |
0.00% |
|
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA)
|
1
|
$135,000 |
$135,000 |
$0 |
0.00% |
|
Bluefield, WV-VA (FHA|USDA|VA)
|
1
|
$115,000 |
$115,000 |
$0 |
0.00% |
|
Coldwater, MI (FHA|USDA|VA)
|
1
|
$95,000 |
$95,000 |
$0 |
0.00% |
|
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA)
|
1
|
$85,000 |
$85,000 |
$0 |
0.00% |
|
CINCINNATI, OH-KY-IN (FHA|USDA|VA)
|
1
|
$85,000 |
$85,000 |
$0 |
0.00% |
Waterford Bank N.a.'s top markets include Toledo, Flint, Detroit, Denver, and Monroe among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
330 |
$95,610,000 |
$289,727 |
$0 |
0.00% |
| FHA |
6 |
$1,380,000 |
$230,000 |
$0 |
0.00% |
| USDA |
2 |
$480,000 |
$240,000 |
$0 |
0.00% |
| VA |
1 |
$155,000 |
$155,000 |
$0 |
0.00% |
For the 2021 period, Waterford Bank N.a.'s most frequently
originated loan type
of loans were Conventional, with 330 originations.
Their 2nd most popular type is FHA,
with 6 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Home Purchase |
165 |
$40,705,000 |
$246,697 |
$0 |
0.00% |
| Refi |
112 |
$35,380,000 |
$315,893 |
$0 |
0.00% |
| Cash Out Refi |
62 |
$21,540,000 |
$347,419 |
$0 |
0.00% |
For the 2021, Waterford Bank N.a.'s most frequently cited loan
purpose
of loans were Home Purchase, with 165
originations.
The 2nd most popular reason of loans were Refi,
with 112 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Other |
339 |
$97,625,000 |
$287,979 |
$0 |
0.00% |
For the 2021, Waterford Bank N.a.'s most frequently cited loan
length
of loans were Other, with 339 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $200k-400k |
139 |
$38,155,000 |
$274,496 |
$0 |
0.00% |
| $100k-200k |
114 |
$16,900,000 |
$148,246 |
$0 |
0.00% |
| $100,000 or less |
46 |
$3,480,000 |
$75,652 |
$0 |
0.00% |
| $400k-600k |
33 |
$16,165,000 |
$489,848 |
$0 |
0.00% |
| $1MM+ |
5 |
$21,135,000 |
$4,227,000 |
$0 |
0.00% |
| $600k-1MM |
2 |
$1,790,000 |
$895,000 |
$0 |
0.00% |
2021 saw Waterford Bank N.a. place emphasis on
$200k-400k loans
with 139 originations, totaling
$38,155,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $100k-150k |
95 |
$22,535,000 |
$237,211 |
$0 |
0.00% |
| $150k-250k |
54 |
$15,960,000 |
$295,556 |
$0 |
0.00% |
| $50k-75k |
53 |
$8,985,000 |
$169,528 |
$0 |
0.00% |
| $75k-100k |
48 |
$8,290,000 |
$172,708 |
$0 |
0.00% |
| $250k+ |
40 |
$15,730,000 |
$393,250 |
$0 |
0.00% |
| $50k or less |
32 |
$3,270,000 |
$102,188 |
$0 |
0.00% |
Waterford Bank N.a. lent most frequently to those with incomes in the
$100k-150k range, with
95 originations.
The second most popular income band? $150k-250k,
with 54 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Exempt% |
339 |
$97,625,000 |
$287,979 |
$0 |
0.00% |
Waterford Bank N.a. lent most frequently to those with DTI ratios
of Exempt%, with
339 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
289 |
$65,925,000 |
$228,114 |
$0 |
0.00% |
| Not applicable |
16 |
$22,610,000 |
$1,413,125 |
$0 |
0.00% |
| Not provided |
18 |
$5,020,000 |
$278,889 |
$0 |
0.00% |
| Black |
7 |
$2,005,000 |
$286,429 |
$0 |
0.00% |
| Asian |
5 |
$1,465,000 |
$293,000 |
$0 |
0.00% |
| American Indian |
3 |
$355,000 |
$118,333 |
$0 |
0.00% |
| Other Asian |
1 |
$245,000 |
$245,000 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
95.95%
Waterford Bank N.a. 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
79.06%
Waterford Bank N.a. has a below average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| Exempt |
339 |
$97,625,000 |
$287,979 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
339 |
$97,625,000 |
$287,979 |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Waterford Bank, N.A. |
231 Louisiana Avenue Perrysburg, OH 43551 |
Full Service B&M
|
$42,344 |
| Waterford Bank, N.A. |
3900 N. Mccord Rd Toledo, OH 43617 |
Full Service B&M
|
$1,017,175 |
| Waterford Bank, N.A. |
5600 New King Drive Troy, MI 48098 |
Full Service B&M
|
$194,888 |
| Waterford Bank, N.A. |
5800 South Main Street Clarkston, MI 48346 |
Full Service B&M
|
$123,169 |
For 2021, Waterford Bank N.a. had 4 branches.
Yearly Performance Overview
Bank Income
Waterford Bank N.a.'s gross interest income from loans was $48,699,000.
Waterford Bank N.a.'s net interest income from loans was $45,817,000.
Waterford Bank N.a.'s fee based income from loans was $1,121,000.
Waterford Bank N.a.'s net income from loans was $16,515,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$2,882 |
| Provision for credit losses |
$3,357 |
| Total noninterest expense |
$28,148 |
| Salaries and employee benefits |
$16,719 |
| Premises and equipment expense |
$1,629 |
| Additional noninterest expense |
$9,800 |
| Applicable income taxes |
$4,031 |
| Net charge-offs |
$68 |
| Cash dividends |
$5,000 |
Waterford Bank N.a.'s interest expense for loans was $2,882,000.
Waterford Bank N.a.'s payroll and benefits expense were $16,719,000.
Waterford Bank N.a.'s property, plant and equipment expenses $1,629,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$1,393,946 |
| Deposits held in domestic offices |
$1,393,946 |
| Deposits by Individuals, partnerships, and corporations |
$1,201,568 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$118,362 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$74,016 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$745,088 |
| Demand deposits |
$698,656 |
| Nontransaction accounts |
$648,858 |
| Money market deposit accounts (MMDAs) |
$490,059 |
| Other savings deposits (excluding MMDAs) |
$26,248 |
| Total time deposits |
$132,551 |
| Total time and savings deposits |
$695,290 |
| Noninterest-bearing deposits |
$370,134 |
| Interest-bearing deposits |
$1,023,812 |
| Retail deposits |
$1,352,638 |
| IRAs and Keogh plan accounts |
$4,318 |
| Brokered deposits |
$0 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$1,532,949 |
| Cash & Balances due from depository institutions |
$220,931 |
| Interest-bearing balances |
$210,431 |
| Total securities |
$299,630 |
| Federal funds sold & reverse repurchase |
$0 |
| Net loans and leases |
$963,750 |
| Loan and leases loss allowance |
$14,932 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$8,161 |
| Other real estate owned |
$500 |
| Goodwill and other intangibles |
$16,460 |
| All other assets |
$23,517 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$1,532,949 |
| Total Liabilities |
$1,399,812 |
| Total deposits |
$1,393,946 |
| Interest-bearing deposits |
$1,023,812 |
| Deposits held in domestic offices |
$1,393,946 |
| % insured (estimated) |
$53 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$0 |
| Subordinated debt |
$0 |
| All other liabilities |
$5,866 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$963,750 |
| Loan and leases loss allowance |
$14,932 |
| Total loans and leases (domestic) |
$978,682 |
| All real estate loans |
$644,539 |
| Real estate loans in domestic offices |
$644,539 |
| Construction and development loans |
$77,196 |
| Residential 1-4 family construction |
$11,061 |
| Other construction, all land development and other land |
$66,135 |
| Loans secured by nonfarm nonresidential properties |
$467,862 |
| Nonfarm nonresidential secured by owner-occupied properties |
$178,956 |
| Commercial real estate & other non-farm, non-residential |
$288,906 |
| Multifamily residential real estate |
$53,334 |
| 1-4 family residential loans |
$45,334 |
| Farmland loans |
$813 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$0 |
| Commercial and industrial loans |
$313,148 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$14,315 |
| Credit card loans |
$0 |
| Related Plans |
$0 |
| Consumer Auto Loans |
$303 |
| Other loans to individuals |
$14,012 |
| All other loans & leases |
$9,395 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$4,368 |
| Loans to depository institutions and acceptances of other banks |
$0 |
| Loans not secured by real estate |
$1,361 |
| Loans secured by real estate to non-U.S. addressees |
$0 |
| Restructured Loans & leases |
$302 |
| Non 1-4 family restructured loans & leases |
$302 |
| Total loans and leases (foreign) |
$0 |
Waterford Bank N.A. had $963,750,000 of loans outstanding in 2021. $644,539,000 of loans were in real estate loans.
$77,196,000 of loans were in development loans. $53,334,000 of loans were in multifamily mortgage loans.
$45,334,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $303,000 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 |
219 |
$75,760 |
$345,936 |
| Nonfarm, nonresidential loans - <$100k |
13 |
$701 |
$53,923 |
| Nonfarm, nonresidential loans - $100-250k |
44 |
$5,596 |
$127,182 |
| Nonfarm, nonresidential loans - $250k-1MM |
162 |
$69,463 |
$428,784 |
| Commercial & Industrial, US addressed loans - <$1MM |
813 |
$81,816 |
$100,635 |
| Commercial & Industrial, US addressed loans - <$100k |
357 |
$6,594 |
$18,471 |
| Commercial & Industrial, US addressed loans - $100-250k |
175 |
$11,385 |
$65,057 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
281 |
$63,837 |
$227,178 |
| Farmland loans - <$1MM |
2 |
$154 |
$77,000 |
| Farmland loans - <$100k |
1 |
$87 |
$87,000 |
| Farmland loans - $100-250k |
1 |
$67 |
$67,000 |
