Mars Bank Mortgage Rates, Fees & Info

Mars, PA

LEI: 549300ZKNH5TR7431V31

Tax ID: 25-0640500

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mars Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Mars Bank has a high proportion of conventional loans. Their top markets include Pittsburgh, Youngstown, New Castle, Philadelphia, and Beckley among others. Mars Bank 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

385

Origination Dollar Volume (All Markets)

$85,985,000

Employee count

73

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PITTSBURGH, PA (FHA|USDA|VA) 322 $72,440,000 $224,969 $0 0.00%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 49 $11,105,000 $226,633 $0 0.00%
New Castle, PA (FHA|USDA|VA) 6 $990,000 $165,000 $0 0.00%
Outside of Metro Areas 3 $415,000 $138,333 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
BECKLEY, WV (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
Somerset, PA (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Meadville, PA (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Oil City, PA (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%

Mars Bank's top markets include Pittsburgh, Youngstown, New Castle, Philadelphia, and Beckley among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 385 $85,985,000 $223,338 $0 0.00%

For the 2021 period, Mars Bank's most frequently originated loan type of loans were Conventional, with 385 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 153 $38,165,000 $249,444 $0 0.00%
Cash Out Refi 116 $24,940,000 $215,000 $0 0.00%
Refi 98 $20,790,000 $212,143 $0 0.00%
Home Improvement 10 $930,000 $93,000 $0 0.00%
Other 8 $1,160,000 $145,000 $0 0.00%

For the 2021, Mars Bank's most frequently cited loan purpose of loans were Home Purchase, with 153 originations. The 2nd most popular reason of loans were Cash Out Refi, with 116 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 385 $85,985,000 $223,338 $0 0.00%

For the 2021, Mars Bank's most frequently cited loan length of loans were Other, with 385 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 142 $39,580,000 $278,732 $0 0.00%
$100k-200k 132 $19,720,000 $149,394 $0 0.00%
$100,000 or less 76 $5,320,000 $70,000 $0 0.00%
$400k-600k 25 $11,815,000 $472,600 $0 0.00%
$600k-1MM 8 $5,640,000 $705,000 $0 0.00%
$1MM+ 2 $3,910,000 $1,955,000 $0 0.00%

2021 saw Mars Bank place emphasis on $200k-400k loans with 142 originations, totaling $39,580,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 89 $18,655,000 $209,607 $0 0.00%
$150k-250k 80 $23,460,000 $293,250 $0 0.00%
$50k-75k 66 $9,570,000 $145,000 $0 0.00%
$75k-100k 60 $11,510,000 $191,833 $0 0.00%
$50k or less 46 $4,370,000 $95,000 $0 0.00%
$250k+ 33 $14,355,000 $435,000 $0 0.00%

Mars Bank lent most frequently to those with incomes in the $100k-150k range, with 89 originations. The second most popular income band? $150k-250k, with 80 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 385 $85,985,000 $223,338 $0 0.00%

Mars Bank lent most frequently to those with DTI ratios of Exempt%, with 385 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 358 $78,450,000 $219,134 $0 0.00%
Not applicable 7 $3,535,000 $505,000 $0 0.00%
Not provided 16 $3,310,000 $206,875 $0 0.00%
Asian 2 $540,000 $270,000 $0 0.00%
American Indian 1 $85,000 $85,000 $0 0.00%
Black 1 $65,000 $65,000 $0 0.00%

Approval Rates

Total approvals of all applications
94.55%

Mars Bank has an average approval rate.

Pick Rate

Approvals leading to origination
87.41%

Mars Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 385 $85,985,000 $223,338

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
385 $85,985,000 $223,338

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Mars Bank 20246 Route 19 Cranberry Township, PA 16066 Full Service B&M $81,146
Mars Bank 211 Scharberry Lane Mars, PA 16046 Full Service B&M $17,549
Mars Bank 5552 William Flynn Highway Gibsonia, PA 15044 Full Service B&M $102,901
Mars Bank 600 Pittsburgh Road Penn Township, PA 16002 Full Service B&M $53,548
Mars Bank 109 South Broad Street Grove City, PA 16127 Full Service B&M $3,219
Mars Bank 145 Grand Avenue Mars, PA 16046 Full Service B&M $165,106

For 2021, Mars Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $12,384
Net interest income $11,905
Total noninterest income $2,684
Gross Fiduciary activities income $0
Service charges on deposit accounts $183
Trading account gains and fees $0
Additional Noninterest Income $2,501
Pre-tax net operating income $2,386
Securities gains (or losses, -) $95
Income before extraordinary items $2,174
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $2,174
Minority interest net income $0
Net income $2,174
Sale, conversion, retirement of capital stock, net $0
Net operating income $2,090

Mars Bank's gross interest income from loans was $12,384,000.
Mars Bank's net interest income from loans was $11,905,000.
Mars Bank's fee based income from loans was $183,000.
Mars Bank's net income from loans was $2,174,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $479
Provision for credit losses $36
Total noninterest expense $12,167
Salaries and employee benefits $7,034
Premises and equipment expense $1,699
Additional noninterest expense $3,434
Applicable income taxes $307
Net charge-offs $-1
Cash dividends $1,074

Mars Bank's interest expense for loans was $479,000.
Mars Bank's payroll and benefits expense were $7,034,000.
Mars Bank's property, plant and equipment expenses $1,699,000.

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 $463,497
Deposits held in domestic offices $463,497
Deposits by Individuals, partnerships, and corporations $403,214
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $60,283
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 $222,381
Demand deposits $153,804
Nontransaction accounts $241,116
Money market deposit accounts (MMDAs) $104,371
Other savings deposits (excluding MMDAs) $103,451
Total time deposits $33,294
Total time and savings deposits $309,693
Noninterest-bearing deposits $153,804
Interest-bearing deposits $309,693
Retail deposits $459,788
IRAs and Keogh plan accounts $8,182
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $505,127
Cash & Balances due from depository institutions $39,747
Interest-bearing balances $36,225
Total securities $166,330
Federal funds sold & reverse repurchase $0
Net loans and leases $278,092
Loan and leases loss allowance $2,952
Trading account assets $0
Bank premises and fixed assets $7,358
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $13,600

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $505,127
Total Liabilities $466,456
Total deposits $463,497
Interest-bearing deposits $309,693
Deposits held in domestic offices $463,497
% insured (estimated) $67
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $2,959

Issued Loan Types

Type Value (in 000's)
Net loans and leases $278,092
Loan and leases loss allowance $2,952
Total loans and leases (domestic) $281,044
All real estate loans $264,488
Real estate loans in domestic offices $264,488
Construction and development loans $10,831
Residential 1-4 family construction $2,964
Other construction, all land development and other land $7,867
Loans secured by nonfarm nonresidential properties $67,568
Nonfarm nonresidential secured by owner-occupied properties $10,276
Commercial real estate & other non-farm, non-residential $57,292
Multifamily residential real estate $11,907
1-4 family residential loans $174,182
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $8,643
To non-U.S. addressees $0
Loans to individuals $294
Credit card loans $0
Related Plans $1
Consumer Auto Loans $201
Other loans to individuals $92
All other loans & leases $7,619
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 $89
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) $0

Mars Bank had $278,092,000 of loans outstanding in 2021. $264,488,000 of loans were in real estate loans. $10,831,000 of loans were in development loans. $11,907,000 of loans were in multifamily mortgage loans. $174,182,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $201,000 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 65 $17,602 $270,800
Nonfarm, nonresidential loans - <$100k 10 $341 $34,100
Nonfarm, nonresidential loans - $100-250k 16 $1,737 $108,563
Nonfarm, nonresidential loans - $250k-1MM 39 $15,524 $398,051
Commercial & Industrial, US addressed loans - <$1MM 111 $7,655 $68,964
Commercial & Industrial, US addressed loans - <$100k 69 $1,380 $20,000
Commercial & Industrial, US addressed loans - $100-250k 22 $2,347 $106,682
Commercial & Industrial, US addressed loans - $250k-1MM 20 $3,928 $196,400