Sterling Bank And Trust Fsb Mortgage Rates, Fees & Info

Southfield, MI

LEI: 549300ZEHLZ064G58146

Tax ID: 38-2524834

2 stars - out of 5 stars, based on 16 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Sterling Bank And Trust Fsb is a smaller bank specializing in Home Purchase and Refi loans. Sterling Bank And Trust Fsb has a high proportion of conventional loans. Their top markets include San Francisco, Los Angeles, New York, San Jose, and Riverside among others. Sterling Bank And Trust Fsb 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. Sterling Bank And Trust Fsb is typically a high fee lendor.


Originations

268

Origination Dollar Volume (All Markets)

$189,810,000

Employee count

303

Relative Rate

Sterling Bank And Trust Fsb's average 30 year fixed rate mortgage of loans were 3.44%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.29%.

Relative Fees

Sterling Bank And Trust Fsb's average total fees for a 30 year fixed rate mortgage are $6,868.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 185 $127,215,000 $687,649 $6,510 3.37%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 63 $29,465,000 $467,698 $7,349 3.49%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $29,090,000 $7,272,500 $6,035 3.04%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 4 $1,730,000 $432,500 $4,541 3.13%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 4 $920,000 $230,000 $2,773 3.31%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 4 $470,000 $117,500 $1,499 2.47%
SANTA CRUZ-WATSONVILLE, CA (FHA|USDA|VA) 1 $325,000 $325,000 $6,669 3.50%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $315,000 $315,000 $0 3.63%
MUSKEGON, MI (FHA|USDA|VA) 1 $215,000 $215,000 $2,329 3.00%
Outside of Metro Areas 1 $65,000 $65,000 $857 2.63%

Sterling Bank And Trust Fsb's top markets include San Francisco, Los Angeles, New York, San Jose, and Riverside among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 268 $189,810,000 $708,246 $6,540 3.37%

For the 2021 period, Sterling Bank And Trust Fsb's most frequently originated loan type of loans were Conventional, with 268 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 157 $131,645,000 $838,503 $8,064 3.49%
Refi 88 $46,380,000 $527,045 $4,177 3.15%
Cash Out Refi 21 $11,025,000 $525,000 $3,558 3.46%
Home Improvement 2 $760,000 $380,000 $5,717 3.25%

For the 2021, Sterling Bank And Trust Fsb's most frequently cited loan purpose of loans were Home Purchase, with 157 originations. The 2nd most popular reason of loans were Refi, with 88 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 238 $152,670,000 $641,471 $6,868 3.44%
15 Year 16 $4,310,000 $269,375 $2,864 2.79%
20 Year 9 $3,305,000 $367,222 $3,123 3.10%
10 Year 4 $1,520,000 $380,000 $4,097 2.42%
3 Year 1 $28,005,000 $28,005,000 $0 0.00%

For the 2021, Sterling Bank And Trust Fsb's most frequently cited loan length of loans were 30 Year, with 238 originations. The 2nd most popular length of loans were 15 Year, with 16 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 147 $97,825,000 $665,476
$3k-4k 50 $25,400,000 $508,000
$5k+ 37 $28,075,000 $758,784
$2k-3k 15 $5,175,000 $345,000
$<1k 5 $815,000 $163,000

$6,868 of loans were Sterling Bank And Trust Fsb's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 147 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 222 $142,300,000 $640,991
2.5-3% 32 $15,200,000 $475,000
<2.5% 10 $2,400,000 $240,000
4-5% 2 $1,100,000 $550,000

During 2021, Sterling Bank And Trust Fsb's average interest rate of loans were 3.44%, while their most frequently originated rate bucket of loans were 3-4%, with 222 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$600k-1MM 90 $66,580,000 $739,778 $7,407 3.45%
$200k-400k 71 $22,665,000 $319,225 $5,255 3.35%
$400k-600k 63 $31,055,000 $492,937 $6,323 3.33%
$1MM+ 34 $68,160,000 $2,004,706 $8,017 3.47%
$100k-200k 7 $1,135,000 $162,143 $3,971 2.96%
$100,000 or less 3 $215,000 $71,667 $1,015 2.54%

2021 saw Sterling Bank And Trust Fsb place emphasis on $600k-1MM loans with 90 originations, totaling $66,580,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 106 $62,500,000 $589,623 $6,776 3.38%
$250k+ 66 $62,480,000 $946,667 $7,280 3.41%
$100k-150k 59 $24,955,000 $422,966 $5,903 3.34%
$75k-100k 22 $7,700,000 $350,000 $5,845 3.34%
$50k-75k 9 $2,445,000 $271,667 $5,256 3.44%
$50k or less 4 $920,000 $230,000 $3,475 3.28%

Sterling Bank And Trust Fsb lent most frequently to those with incomes in the $150k-250k range, with 106 originations. The second most popular income band? $250k+, with 66 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
30-36% 87 $58,315,000 $670,287 $6,730 3.37%
20-30% 74 $46,270,000 $625,270 $6,611 3.39%
37% 24 $14,660,000 $610,833 $7,539 3.36%
36% 20 $12,080,000 $604,000 $7,337 3.42%
<20% 15 $6,915,000 $461,000 $4,717 3.28%
41% 8 $3,800,000 $475,000 $6,192 3.44%
42% 8 $3,740,000 $467,500 $6,772 3.63%
44% 6 $2,930,000 $488,333 $5,963 3.06%
38% 6 $2,600,000 $433,333 $6,188 3.40%
40% 5 $3,415,000 $683,000 $6,062 3.53%
39% 3 $1,945,000 $648,333 $4,027 3.04%
45% 3 $1,275,000 $425,000 $3,577 2.83%
47% 2 $1,080,000 $540,000 $3,829 3.31%
48% 2 $950,000 $475,000 $5,374 3.88%
49% 1 $345,000 $345,000 $0 4.13%
46% 1 $255,000 $255,000 $2,554 3.25%
43% 1 $425,000 $425,000 $0 3.25%

Sterling Bank And Trust Fsb lent most frequently to those with DTI ratios of 30-36%, with 87 originations. The next most common DTI ratio? 20-30%, with 74 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 158 $101,480,000 $642,278 $6,752 3.40%
Asian 84 $46,660,000 $555,476 $6,042 3.32%
Not applicable 2 $28,810,000 $14,405,000 $0 0.00%
Not provided 20 $11,380,000 $569,000 $6,637 3.39%
Black 4 $1,480,000 $370,000 $6,934 3.28%

Approval Rates

Total approvals of all applications
93.71%

Sterling Bank And Trust Fsb has an average approval rate.

Pick Rate

Approvals leading to origination
69.55%

Sterling Bank And Trust Fsb has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 268 $189,810,000 $708,246

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
268 $189,810,000 $708,246

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 25 $8,775,000 $351,000 $3,985 3.14%
40-60% 48 $22,260,000 $463,750 $4,386 3.25%
60-80% 102 $100,230,000 $982,647 $6,925 3.42%
80-100% 87 $57,255,000 $658,103 $7,884 3.49%
Under 20% 6 $1,290,000 $215,000 $4,218 2.94%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
STERLING BANCORP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 5.3%
STERLING BANCORP Conventional home mortgage Closing on a mortgage 1 5.3%
STERLING BANCORP Conventional home mortgage Struggling to pay mortgage 4 21.1%
STERLING BANCORP Conventional home mortgage Trouble during payment process 9 47.4%
STERLING BANCORP Home equity loan or line of credit (HELOC) Trouble during payment process 1 5.3%
STERLING BANCORP Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 5.3%
STERLING BANCORP Other type of mortgage Trouble during payment process 2 10.5%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Sterling Bank and Trust, FSB 10191 S De Anza Blvd Cupertino, CA 95014 Full Service B&M $41,264
Sterling Bank and Trust, FSB 2045 Van Ness Avenue San Francisco, CA 94109 Full Service B&M $141,265
Sterling Bank and Trust, FSB 2100 Market Street San Francisco, CA 94114 Full Service B&M $47,625
Sterling Bank and Trust, FSB 2501 Irving Street San Francisco, CA 94122 Full Service B&M $186,748
Sterling Bank and Trust, FSB 2555 San Bruno Avenue San Francisco, CA 94134 Full Service B&M $90,283
Sterling Bank and Trust, FSB 2911 Chino Hills Unit F-1 Chino Hills, CA 91709 Full Service B&M $27,177
Sterling Bank and Trust, FSB 3640 Wilshire Blvd, Suite 150 Los Angeles, CA 90010 Full Service B&M $24,860
Sterling Bank and Trust, FSB 3800 24th Street San Francisco, CA 94114 Full Service B&M $106,416
Sterling Bank and Trust, FSB 38990 Paseo Padre Pkwy Fremont, CA 94538 Full Service B&M $28,217
Sterling Bank and Trust, FSB 39-02 Main St Flushing, NY 11354 Full Service B&M $46,835
Sterling Bank and Trust, FSB 400 Montgomery St, Ste 100 San Francisco, CA 94104 Full Service B&M $114,285
Sterling Bank and Trust, FSB 4250 Barranca Parkway, Suite S Irvine, CA 92604 Full Service B&M $67,849
Sterling Bank and Trust, FSB 440 Westlake Center Dr, Suite 4022 Daly City, CA 94015 Full Service B&M $113,836
Sterling Bank and Trust, FSB 4627 Mission St San Francisco, CA 94112 Full Service B&M $66,384
Sterling Bank and Trust, FSB 5498 Geary Boulevard San Francisco, CA 94121 Full Service B&M $172,443
Sterling Bank and Trust, FSB 657 West Durate Road Arcadia, CA 91007 Full Service B&M $133,467
Sterling Bank and Trust, FSB 711 W Valley Blvd, Ste 100 Alhambra, CA 91803 Full Service B&M $256,723
Sterling Bank and Trust, FSB 735 Webster Street Oakland, CA 94607 Full Service B&M $54,845
Sterling Bank and Trust, FSB 774 55th Street, Third Floor Brooklyn, NY 11220 Full Service B&M $4,859
Sterling Bank and Trust, FSB 825 Irving Street San Francisco, CA 94122 Full Service B&M $122,624
Sterling Bank and Trust, FSB One Towne Square, Suite 1900 Southfield, MI 48076 Full Service B&M $80,527
Sterling Bank and Trust, FSB 1100 Bellevue Way Ne Bellevue, WA 98004 Full Service B&M $73,383
Sterling Bank and Trust, FSB 1104 4th Street San Rafael, CA 94901 Full Service B&M $45,211
Sterling Bank and Trust, FSB 1122 Taraval St San Francisco, CA 94116 Full Service B&M $95,529
Sterling Bank and Trust, FSB 115 West Portal Avenue San Francisco, CA 94127 Full Service B&M $75,363
Sterling Bank and Trust, FSB 1210 Broadway Burlingame, CA 94010 Full Service B&M $142,973
Sterling Bank and Trust, FSB 1239 Noriega Street San Francisco, CA 94122 Full Service B&M $71,484
Sterling Bank and Trust, FSB 15 E 4th Ave San Mateo, CA 94401 Full Service B&M $77,643
Sterling Bank and Trust, FSB 1900 Fillmore Street San Francisco, CA 94115 Full Service B&M $34,190
Sterling Bank and Trust, FSB 19220 Colima Road La Puente, CA 91748 Full Service B&M $95,558

For 2021, Sterling Bank And Trust Fsb had 30 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $116,540
Net interest income $95,169
Total noninterest income $2,745
Gross Fiduciary activities income $0
Service charges on deposit accounts $343
Trading account gains and fees $0
Additional Noninterest Income $2,402
Pre-tax net operating income $36,381
Securities gains (or losses, -) $-142
Income before extraordinary items $25,724
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $25,724
Minority interest net income $0
Net income $25,724
Sale, conversion, retirement of capital stock, net $580
Net operating income $25,836

Sterling Bank And Trust Fsb's gross interest income from loans was $116,540,000.
Sterling Bank And Trust Fsb's net interest income from loans was $95,169,000.
Sterling Bank And Trust Fsb's fee based income from loans was $343,000.
Sterling Bank And Trust Fsb's net income from loans was $25,724,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $21,371
Provision for credit losses $-3,771
Total noninterest expense $65,304
Salaries and employee benefits $25,385
Premises and equipment expense $9,108
Additional noninterest expense $30,811
Applicable income taxes $10,515
Net charge-offs $12,068
Cash dividends $10,000

Sterling Bank And Trust Fsb's interest expense for loans was $21,371,000.
Sterling Bank And Trust Fsb's payroll and benefits expense were $25,385,000.
Sterling Bank And Trust Fsb's property, plant and equipment expenses $9,108,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 3.0%
Real Estate loans 3.0%
Construction & Land Development loans 11.0%
Nonfarm, nonresidential loans 12.0%
Multifamily residential loans 0.0%
1-4 family residential loans 3.0%
HELOC loans 1.0%
All other family 3.0%
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 $2,294,403
Deposits held in domestic offices $2,294,403
Deposits by Individuals, partnerships, and corporations $2,273,574
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $495
Deposits by Commercial banks and other depository institutions in U.S. $20,333
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $239,819
Demand deposits $90,442
Nontransaction accounts $2,054,583
Money market deposit accounts (MMDAs) $1,150,250
Other savings deposits (excluding MMDAs) $12,513
Total time deposits $891,819
Total time and savings deposits $2,203,960
Noninterest-bearing deposits $90,522
Interest-bearing deposits $2,203,881
Retail deposits $2,032,177
IRAs and Keogh plan accounts $51,968
Brokered deposits $20,109
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,873,668
Cash & Balances due from depository institutions $411,470
Interest-bearing balances $408,137
Total securities $313,632
Federal funds sold & reverse repurchase $1,395
Net loans and leases $2,020,954
Loan and leases loss allowance $56,548
Trading account assets $0
Bank premises and fixed assets $25,258
Other real estate owned $0
Goodwill and other intangibles $2,722
All other assets $98,237

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,873,668
Total Liabilities $2,495,037
Total deposits $2,294,403
Interest-bearing deposits $2,203,881
Deposits held in domestic offices $2,294,403
% insured (estimated) $81
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $150,000
Subordinated debt $0
All other liabilities $50,634

Issued Loan Types

Type Value (in 000's)
Net loans and leases $2,020,954
Loan and leases loss allowance $56,548
Total loans and leases (domestic) $2,077,502
All real estate loans $2,077,281
Real estate loans in domestic offices $2,077,281
Construction and development loans $111,754
Residential 1-4 family construction $23,155
Other construction, all land development and other land $88,599
Loans secured by nonfarm nonresidential properties $106,614
Nonfarm nonresidential secured by owner-occupied properties $2,077
Commercial real estate & other non-farm, non-residential $104,537
Multifamily residential real estate $112,790
1-4 family residential loans $1,746,123
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $0
To non-U.S. addressees $0
Loans to individuals $0
Credit card loans $0
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $0
All other loans & leases $221
Loans to foreign governments and official institutions $0
Other loans $221
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 $2,664
Non 1-4 family restructured loans & leases $2,600
Total loans and leases (foreign) $0

Sterling Bank and Trust FSB had $2,020,954,000 of loans outstanding in 2021. $2,077,281,000 of loans were in real estate loans. $111,754,000 of loans were in development loans. $112,790,000 of loans were in multifamily mortgage loans. $1,746,123,000 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 14 $6,692 $478,000
Nonfarm, nonresidential loans - $100-250k 2 $138 $69,000
Nonfarm, nonresidential loans - $250k-1MM 12 $6,554 $546,167