Waterford Bank N.a. Mortgage Rates, Fees & Info
Toledo, OHLEI: 549300Z8EM6P4IUIYG50
Tax ID: 11-3809585
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Bank Data
Review & Overview
Waterford Bank N.a. is a smaller bank specializing in Home Purchase and 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 by origination volume include: Toledo, Denver, Monroe, Cape Coral, and Naples among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)Waterford Bank N.a. has an above 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.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
257Origination Dollar Volume (All Markets)
$63,405,000Employee count
77Top 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 |
|---|---|---|---|---|---|
| TOLEDO, OH (FHA|USDA|VA) | 212 | $48,800,000 | $230,189 | $0 | 0.00% |
| DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) | 7 | $2,585,000 | $369,286 | $0 | 0.00% |
| MONROE, MI (FHA|USDA|VA) | 11 | $2,415,000 | $219,545 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $1,720,000 | $860,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $1,715,000 | $1,715,000 | $0 | 0.00% |
| Bozeman, MT (FHA|USDA|VA) | 1 | $775,000 | $775,000 | $0 | 0.00% |
| Detroit-Warren-Dearborn, MI (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 2 | $710,000 | $355,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| Hillsdale, MI (FHA|USDA|VA) | 3 | $435,000 | $145,000 | $0 | 0.00% |
| ANN ARBOR, MI (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| FORT COLLINS, CO (FHA|USDA|VA) | 1 | $365,000 | $365,000 | $0 | 0.00% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 0.00% |
| Adrian, MI (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| THE VILLAGES, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| Defiance, OH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $190,000 | $95,000 | $0 | 0.00% |
| Findlay, OH (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
Product Mix
For 2019, Waterford Bank N.a.'s most frequently originated type of loan was Conventional, with 242 originations. Their 2nd most popular type was FHA, with 10 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 188 | $40,440,000 | $215,106 | $0 | 0.00% |
| Refi | 67 | $22,445,000 | $335,000 | $0 | 0.00% |
| Cash Out Refi | 2 | $520,000 | $260,000 | $0 | 0.00% |
For 2019, Waterford Bank N.a.'s most frequently cited loan purpose was Home Purchase, with 188 originations. The 2nd most popular reason was Refi, with 67 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 257 | $63,405,000 | $246,712 | $0 | 0.00% |
For 2019, Waterford Bank N.a.'s most frequently cited loan duration was Other, with 257 originations.
Loan Sizing
2019 saw Waterford Bank N.a. place emphasis on $100k-200k loans with 102 originations, totaling $15,510,000 in origination value.
Applicant Income
Waterford Bank N.a. lent most frequently to those with incomes in the $100k-150k range, with 67 originations. The second most popular income band? $50k-75k, with 49 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 257 | $63,405,000 | $246,712 | $0 | 0.00% |
Waterford Bank N.a. lent most frequently to those with DTI ratios of Exempt%, with 257 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.17%
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 origination81.32%
Waterford Bank N.a. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 257 | $63,405,000 | $246,712 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 2 | $8,280,000 | $4,140,000 |
| Single Family (1-4 Units):Site-Built | 255 | $55,125,000 | $216,176 |
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 | $33,534 |
| Waterford Bank, N.A. | 3900 N. Mccord Rd Toledo, OH 43617 | Full Service B&M | $620,363 |
For 2019, Waterford Bank N.a. had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $34,976 |
| Net interest income | $27,660 |
| Total noninterest income | $4,071 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $706 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,365 |
| Pre-tax net operating income | $12,046 |
| Securities gains (or losses, -) | $81 |
| Income before extraordinary items | $9,857 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $9,857 |
| Minority interest net income | $0 |
| Net income | $9,857 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $9,791 |
Waterford Bank N.a.'s gross interest income from loans was $34,976,000.
Waterford Bank N.a.'s net interest income from loans was $27,660,000.
Waterford Bank N.a.'s fee based income from loans was $706,000.
Waterford Bank N.a.'s net income from loans was $9,857,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $7,316 |
| Provision for credit losses | $531 |
| Total noninterest expense | $19,154 |
| Salaries and employee benefits | $11,476 |
| Premises and equipment expense | $1,210 |
| Additional noninterest expense | $6,468 |
| Applicable income taxes | $2,270 |
| Net charge-offs | $0 |
| Cash dividends | $0 |
Waterford Bank N.a.'s interest expense for loans was $7,316,000.
Waterford Bank N.a.'s payroll and benefits expense were $11,476,000.
Waterford Bank N.a.'s property, plant and equipment expenses $1,210,000.
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 | 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 | $679,969 |
| Deposits held in domestic offices | $679,969 |
| Deposits by Individuals, partnerships, and corporations | $608,030 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $66,553 |
| Deposits by Commercial banks and other depository institutions in U.S. | $5,386 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $303,725 |
| Demand deposits | $281,139 |
| Nontransaction accounts | $376,244 |
| Money market deposit accounts (MMDAs) | $282,318 |
| Other savings deposits (excluding MMDAs) | $9,373 |
| Total time deposits | $84,553 |
| Total time and savings deposits | $398,830 |
| Noninterest-bearing deposits | $120,994 |
| Interest-bearing deposits | $558,975 |
| Retail deposits | $639,237 |
| IRAs and Keogh plan accounts | $3,422 |
| Brokered deposits | $23,578 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $772,547 |
| Cash & Balances due from depository institutions | $77,480 |
| Interest-bearing balances | $68,988 |
| Total securities | $42,371 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $626,702 |
| Loan and leases loss allowance | $7,502 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $8,706 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $96 |
| All other assets | $17,192 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $772,547 |
| Total Liabilities | $685,604 |
| Total deposits | $679,969 |
| Interest-bearing deposits | $558,975 |
| Deposits held in domestic offices | $679,969 |
| % insured (estimated) | $59 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $5,635 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $626,702 |
| Loan and leases loss allowance | $7,502 |
| Total loans and leases (domestic) | $634,204 |
| All real estate loans | $408,933 |
| Real estate loans in domestic offices | $408,933 |
| Construction and development loans | $47,762 |
| Residential 1-4 family construction | $11,006 |
| Other construction, all land development and other land | $36,756 |
| Loans secured by nonfarm nonresidential properties | $276,441 |
| Nonfarm nonresidential secured by owner-occupied properties | $112,058 |
| Commercial real estate & other non-farm, non-residential | $164,383 |
| Multifamily residential real estate | $36,382 |
| 1-4 family residential loans | $47,061 |
| Farmland loans | $1,287 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $207,007 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $9,253 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $143 |
| Other loans to individuals | $9,110 |
| All other loans & leases | $10,220 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $8,073 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $1,777 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,954 |
| Non 1-4 family restructured loans & leases | $1,834 |
| Total loans and leases (foreign) | $0 |
Waterford Bank N.A. had $626,702,000 of loans outstanding in 2019. $408,933,000 of loans were in real estate loans. $47,762,000 of loans were in development loans. $36,382,000 of loans were in multifamily mortgage loans. $47,061,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $143,000 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 | 145 | $49,119 | $338,752 |
| Nonfarm, nonresidential loans - <$100k | 7 | $337 | $48,143 |
| Nonfarm, nonresidential loans - $100-250k | 40 | $5,097 | $127,425 |
| Nonfarm, nonresidential loans - $250k-1MM | 98 | $43,685 | $445,765 |
| Commercial & Industrial, US addressed loans - <$1MM | 573 | $69,248 | $120,852 |
| Commercial & Industrial, US addressed loans - <$100k | 223 | $4,173 | $18,713 |
| Commercial & Industrial, US addressed loans - $100-250k | 138 | $10,476 | $75,913 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 212 | $54,599 | $257,542 |
| Farmland loans - <$1MM | 3 | $436 | $145,333 |
| Farmland loans - <$100k | 1 | $90 | $90,000 |
| Farmland loans - $100-250k | 2 | $346 | $173,000 |