Mars Bank Mortgage Rates, Fees & Info

Mars, PA

LEI: 549300ZKNH5TR7431V31

Tax ID: 25-0640500

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Mortgage Data

Bank Data

Review & Overview

Mars Bank is a smaller bank specializing in Cash Out Refi, Home Purchase, and Refi loans. Mars Bank has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, Youngstown, Erie, Meadville, and New Castle among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mars Bank 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.

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Originations

478

Origination Dollar Volume (All Markets)

$104,950,000

Employee count

73

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
PITTSBURGH, PA (FHA|USDA|VA) 415 $92,125,000 $221,988 $0 0.00%
YOUNGSTOWN-WARREN-BOARDMAN, OH-PA (FHA|USDA|VA) 48 $10,070,000 $209,792 $0 0.00%
ERIE, PA (FHA|USDA|VA) 3 $1,025,000 $341,667 $0 0.00%
Meadville, PA (FHA|USDA|VA) 3 $885,000 $295,000 $0 0.00%
New Castle, PA (FHA|USDA|VA) 5 $375,000 $75,000 $0 0.00%
Outside of Metro Areas 3 $335,000 $111,667 $0 0.00%
LANCASTER, PA (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
Mars Bank's top markets include Pittsburgh, Youngstown, Erie, Meadville, and New Castle among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 478 $104,950,000 $219,561 $0 0.00%

    For 2020, Mars Bank's most frequently originated type of loan was Conventional, with 478 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 158 $33,730,000 $213,481 $0 0.00%
    Home Purchase 156 $34,160,000 $218,974 $0 0.00%
    Refi 145 $35,305,000 $243,483 $0 0.00%
    Home Improvement 11 $845,000 $76,818 $0 0.00%
    Other 8 $910,000 $113,750 $0 0.00%

    For 2020, Mars Bank's most frequently cited loan purpose was Cash Out Refi, with 158 originations. The 2nd most popular reason was Home Purchase, with 156 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 478 $104,950,000 $219,561 $0 0.00%

    For 2020, Mars Bank's most frequently cited loan duration was Other, with 478 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 184 $27,880,000 $151,522 $0 0.00%
    $200k-400k 177 $48,535,000 $274,209 $0 0.00%
    $100,000 or less 70 $4,410,000 $63,000 $0 0.00%
    $400k-600k 39 $17,865,000 $458,077 $0 0.00%
    $600k-1MM 8 $6,260,000 $782,500 $0 0.00%

    2020 saw Mars Bank place emphasis on $100k-200k loans with 184 originations, totaling $27,880,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 124 $26,430,000 $213,145 $0 0.00%
    $150k-250k 108 $30,600,000 $283,333 $0 0.00%
    $75k-100k 79 $13,835,000 $175,127 $0 0.00%
    $50k-75k 74 $10,360,000 $140,000 $0 0.00%
    $250k+ 42 $17,440,000 $415,238 $0 0.00%
    $50k or less 38 $3,820,000 $100,526 $0 0.00%

    Mars Bank lent most frequently to those with incomes in the $100k-150k range, with 124 originations. The second most popular income band? $150k-250k, with 108 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 478 $104,950,000 $219,561 $0 0.00%

    Mars Bank lent most frequently to those with DTI ratios of Exempt%, with 478 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 436 $95,930,000 $220,023 $0 0.00%
    Not provided 27 $5,185,000 $192,037 $0 0.00%
    Not applicable 7 $1,595,000 $227,857 $0 0.00%
    Asian 5 $1,315,000 $263,000 $0 0.00%
    Black 3 $925,000 $308,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.54%

    Mars Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.33%

    Mars Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 478 $104,950,000 $219,561

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $505,000 $101,000
    Single Family (1-4 Units):Site-Built 473 $104,445,000 $220,814

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Mars Bank 109 South Broad Street Grove City, PA 16127 Full Service B&M $2,016
    Mars Bank 145 Grand Avenue Mars, PA 16046 Full Service B&M $143,094
    Mars Bank 20246 Route 19 Cranberry Township, PA 16066 Full Service B&M $72,932
    Mars Bank 211 Scharberry Lane Mars, PA 16046 Full Service B&M $19,912
    Mars Bank 5552 William Flynn Highway Gibsonia, PA 15044 Full Service B&M $97,687
    Mars Bank 600 Pittsburgh Road Penn Township, PA 16002 Full Service B&M $50,367

    For 2020, Mars Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,686
    Net interest income $11,114
    Total noninterest income $3,302
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $202
    Trading account gains and fees $0
    Additional Noninterest Income $3,100
    Pre-tax net operating income $2,130
    Securities gains (or losses, -) $156
    Income before extraordinary items $2,035
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,035
    Minority interest net income $0
    Net income $2,035
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,896

    Mars Bank's gross interest income from loans was $12,686,000.
    Mars Bank's net interest income from loans was $11,114,000.
    Mars Bank's fee based income from loans was $202,000.
    Mars Bank's net income from loans was $2,035,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,572
    Provision for credit losses $338
    Total noninterest expense $11,948
    Salaries and employee benefits $6,836
    Premises and equipment expense $1,583
    Additional noninterest expense $3,529
    Applicable income taxes $251
    Net charge-offs $-1
    Cash dividends $1,017

    Mars Bank's interest expense for loans was $1,572,000.
    Mars Bank's payroll and benefits expense were $6,836,000.
    Mars Bank's property, plant and equipment expenses $1,583,000.

    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 5.0%
    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 $414,233
    Deposits held in domestic offices $414,233
    Deposits by Individuals, partnerships, and corporations $361,422
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $52,811
    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 $180,532
    Demand deposits $131,640
    Nontransaction accounts $233,701
    Money market deposit accounts (MMDAs) $97,158
    Other savings deposits (excluding MMDAs) $92,130
    Total time deposits $44,413
    Total time and savings deposits $282,593
    Noninterest-bearing deposits $131,640
    Interest-bearing deposits $282,593
    Retail deposits $407,972
    IRAs and Keogh plan accounts $8,739
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $464,280
    Cash & Balances due from depository institutions $54,907
    Interest-bearing balances $50,956
    Total securities $110,627
    Federal funds sold & reverse repurchase $0
    Net loans and leases $278,858
    Loan and leases loss allowance $2,915
    Trading account assets $0
    Bank premises and fixed assets $6,683
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $13,205

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $464,280
    Total Liabilities $424,111
    Total deposits $414,233
    Interest-bearing deposits $282,593
    Deposits held in domestic offices $414,233
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,993
    Subordinated debt $0
    All other liabilities $2,885

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $278,858
    Loan and leases loss allowance $2,915
    Total loans and leases (domestic) $281,773
    All real estate loans $254,112
    Real estate loans in domestic offices $254,112
    Construction and development loans $11,542
    Residential 1-4 family construction $1,646
    Other construction, all land development and other land $9,896
    Loans secured by nonfarm nonresidential properties $68,929
    Nonfarm nonresidential secured by owner-occupied properties $9,026
    Commercial real estate & other non-farm, non-residential $59,903
    Multifamily residential real estate $6,586
    1-4 family residential loans $167,055
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $19,001
    To non-U.S. addressees $0
    Loans to individuals $289
    Credit card loans $0
    Related Plans $6
    Consumer Auto Loans $134
    Other loans to individuals $149
    All other loans & leases $8,371
    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 $304
    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 $278,858,000 of loans outstanding in 2020. $254,112,000 of loans were in real estate loans. $11,542,000 of loans were in development loans. $6,586,000 of loans were in multifamily mortgage loans. $167,055,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $134,000 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 70 $16,678 $238,257
    Nonfarm, nonresidential loans - <$100k 11 $500 $45,455
    Nonfarm, nonresidential loans - $100-250k 18 $1,982 $110,111
    Nonfarm, nonresidential loans - $250k-1MM 41 $14,196 $346,244
    Commercial & Industrial, US addressed loans - <$1MM 228 $17,171 $75,311
    Commercial & Industrial, US addressed loans - <$100k 159 $4,865 $30,597
    Commercial & Industrial, US addressed loans - $100-250k 45 $6,204 $137,867
    Commercial & Industrial, US addressed loans - $250k-1MM 24 $6,102 $254,250