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 Home Purchase, Cash Out Refi, and Refi loans. Mars Bank has a high proportion of conventional loans. Their top markets by origination volume include: Pittsburgh, Youngstown, New Castle, Philadelphia, and Beckley among others. We have data for 9 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 an above average pick rate when compared to similar lenders.

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Originations

385

Origination Dollar Volume (All Markets)

$85,985,000

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) 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.

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

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

    For 2021, Mars Bank's most frequently originated type of loan was Conventional, with 385 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Mars Bank's most frequently cited loan purpose was Home Purchase, with 153 originations. The 2nd most popular reason was 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 2021, Mars Bank's most frequently cited loan duration was 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
    96.93%

    Mars Bank 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
    90.13%

    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 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
    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

    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