Oriental Bank Mortgage Rates, Fees & Info

San Juan,

LEI: 549300ZLPU75MU7O0T38

Tax ID: 66-0259436

5 stars - out of 5 stars, based on 47 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Oriental Bank is a smaller bank specializing in Home Purchase and Refi loans. Oriental Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include San Juan, Aguadilla, Ponce, San GermÁn, and Arecibo among others. Oriental Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Oriental Bank is typically an average fee lendor.


Originations

2,171

Origination Dollar Volume (All Markets)

$339,825,000

Employee count

2,258 Show all (27) awards

Relative Rate

Oriental Bank's average 30 year fixed rate mortgage of loans were 2.93%.

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

This yields a difference of -0.22%.

Relative Fees

Oriental Bank's average total fees for a 30 year fixed rate mortgage are $5,402.

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 JUAN-BAYAMÓN-CAGUAS, PR (FHA|USDA|VA) 1,602 $273,650,000 $170,818 $5,622 2.81%
AGUADILLA-ISABELA, PR (FHA|USDA|VA) 134 $16,910,000 $126,194 $4,719 2.73%
PONCE, PR (FHA|USDA|VA) 93 $11,585,000 $124,570 $4,701 2.79%
SAN GERMÁN, PR (FHA|USDA|VA) 78 $10,470,000 $134,231 $4,943 2.80%
Arecibo, PR (FHA|USDA|VA) 79 $9,565,000 $121,076 $4,612 2.68%
MAYAGÜEZ, PR (FHA|USDA|VA) 54 $6,290,000 $116,481 $4,712 2.85%
GUAYAMA, PR (FHA|USDA|VA) 44 $3,810,000 $86,591 $3,798 2.72%
YAUCO, PR (FHA|USDA|VA) 50 $3,430,000 $68,600 $3,186 3.01%
Coamo, PR (FHA|USDA|VA) 15 $1,565,000 $104,333 $4,137 2.78%
Santa Isabel, PR (FHA|USDA|VA) 11 $1,045,000 $95,000 $3,512 2.64%
Outside of Metro Areas 4 $900,000 $225,000 $5,698 3.34%
Coco, PR (FHA|USDA|VA) 6 $470,000 $78,333 $3,694 2.33%
Jayuya, PR (FHA|USDA|VA) 1 $135,000 $135,000 $5,271 2.75%

Oriental Bank's top markets include San Juan, Aguadilla, Ponce, San GermÁn, and Arecibo among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,293 $214,415,000 $165,828 $5,363 2.86%
FHA 546 $79,020,000 $144,725 $5,702 2.73%
USDA 219 $25,425,000 $116,096 $3,945 2.71%
VA 113 $20,965,000 $185,531 $5,685 2.67%

For the 2021 period, Oriental Bank's most frequently originated loan type of loans were Conventional, with 1,293 originations. Their 2nd most popular type is FHA, with 546 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 1,118 $176,760,000 $158,104 $5,108 2.96%
Refi 764 $118,020,000 $154,476 $5,588 2.57%
Cash Out Refi 242 $37,740,000 $155,950 $5,532 2.80%
Other 38 $6,230,000 $163,947 $5,254 3.07%
Home Improvement 9 $1,075,000 $119,444 $4,220 3.04%

For the 2021, Oriental Bank's most frequently cited loan purpose of loans were Home Purchase, with 1,118 originations. The 2nd most popular reason of loans were Refi, with 764 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 1,379 $222,695,000 $161,490 $5,402 2.93%
15 Year 497 $79,665,000 $160,292 $5,335 2.46%
20 Year 164 $21,510,000 $131,159 $5,198 3.03%
10 Year 72 $8,360,000 $116,111 $4,547 2.19%
Other 59 $7,595,000 $128,729 $4,570 2.77%

For the 2021, Oriental Bank's most frequently cited loan length of loans were 30 Year, with 1,379 originations. The 2nd most popular length of loans were 15 Year, with 497 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 947 $144,075,000 $152,138
$1k-2k 524 $63,350,000 $120,897
$2k-3k 340 $49,370,000 $145,206
$3k-4k 216 $40,340,000 $186,759
$5k+ 130 $40,690,000 $313,000

$5,402 of loans were Oriental Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 947 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
<2.5% 983 $145,815,000 $148,337
2.5-3% 765 $109,855,000 $143,601
3-4% 367 $63,215,000 $172,248
4-5% 31 $14,165,000 $456,935
5-6% 18 $5,530,000 $307,222
6-7% 5 $1,025,000 $205,000
7-8% 1 $115,000 $115,000
Over 8% 1 $105,000 $105,000

During 2021, Oriental Bank's average interest rate of loans were 2.93%, while their most frequently originated rate bucket of loans were <2.5%, with 983 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 1,033 $142,825,000 $138,262 $5,126 2.80%
$100,000 or less 720 $54,550,000 $75,764 $3,341 2.77%
$200k-400k 328 $87,860,000 $267,866 $8,336 2.80%
$400k-600k 75 $36,315,000 $484,200 $12,256 2.90%
$600k-1MM 8 $6,030,000 $753,750 $8,479 4.95%
$1MM+ 7 $12,245,000 $1,749,286 $21,088 4.61%

2021 saw Oriental Bank place emphasis on $100k-200k loans with 1,033 originations, totaling $142,825,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 936 $94,720,000 $101,197 $4,096 2.75%
$50k-75k 449 $61,345,000 $136,626 $5,035 2.74%
$75k-100k 290 $48,900,000 $168,621 $6,008 2.76%
$100k-150k 220 $45,690,000 $207,682 $6,876 2.84%
$150k-250k 152 $39,930,000 $262,697 $7,829 2.91%
$250k+ 99 $41,745,000 $421,667 $8,481 3.32%

Oriental Bank lent most frequently to those with incomes in the $50k or less range, with 936 originations. The second most popular income band? $50k-75k, with 449 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 540 $80,220,000 $148,556 $5,124 2.74%
30-36% 352 $51,570,000 $146,506 $5,098 2.77%
<20% 252 $34,860,000 $138,333 $4,816 2.74%
41% 90 $13,370,000 $148,556 $5,440 2.86%
44% 84 $13,780,000 $164,048 $5,784 2.89%
36% 76 $13,170,000 $173,289 $5,715 2.70%
40% 74 $11,400,000 $154,054 $5,126 2.97%
43% 73 $17,675,000 $242,123 $6,488 2.83%
42% 71 $12,595,000 $177,394 $5,863 2.95%
39% 71 $12,525,000 $176,408 $5,520 2.92%
37% 66 $11,100,000 $168,182 $5,510 2.78%
38% 64 $11,640,000 $181,875 $5,852 2.82%
45% 62 $9,570,000 $154,355 $5,939 2.79%
50-60% 59 $9,875,000 $167,373 $6,038 2.86%
48% 47 $7,275,000 $154,787 $5,058 2.78%
47% 44 $5,980,000 $135,909 $4,620 2.85%
49% 44 $8,230,000 $187,045 $5,720 2.82%
46% 43 $6,485,000 $150,814 $5,660 2.84%
>60% 4 $620,000 $155,000 $5,125 3.06%

Oriental Bank lent most frequently to those with DTI ratios of 20-30%, with 540 originations. The next most common DTI ratio? 30-36%, with 352 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 2,075 $323,865,000 $156,080 $5,327 2.80%
Black 50 $6,210,000 $124,200 $4,507 2.81%
Not applicable 6 $4,840,000 $806,667 $30,715 5.75%
Not provided 37 $4,385,000 $118,514 $4,647 2.66%
American Indian 2 $400,000 $200,000 $6,353 2.81%
Chinese 1 $125,000 $125,000 $4,913 3.50%

Approval Rates

Total approvals of all applications
78.33%

Oriental Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
65.10%

Oriental Bank 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 2,171 $339,825,000 $156,529

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
2,171 $339,825,000 $156,529

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 40 $5,610,000 $140,250 $4,172 2.56%
40-60% 206 $27,900,000 $135,437 $4,388 2.66%
60-80% 731 $115,395,000 $157,859 $5,386 2.85%
80-100% 1,161 $184,165,000 $158,626 $5,460 2.81%
Over 100% 15 $3,385,000 $225,667 $7,847 2.98%
Under 20% 7 $1,745,000 $249,286 $4,554 2.48%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Oriental Bank #1 Road, Plaza Del Caribe Mall Ponce, PR 731 Full Service B&M $105,383
Oriental Bank 4500 Estate Diamond Christiansted, VI 820 Full Service B&M $168,351
Oriental Bank 65 De Infanterma Ave. Plaza Escorial Mall Carolina, PR 987 Full Service B&M $128,089
Oriental Bank 725 Avenue West Main Suite 200 Bayamon, PR 961 Full Service B&M $79,849
Oriental Bank 727 West Main Ave. Suite Pp3 Bayamon, PR 961 Full Service B&M $141,337
Oriental Bank Aguadilla Plaza Shopping Center Aguadilla, PR 603 Full Service B&M $74,001
Oriental Bank Alejandrino Plaza, Road 838 Guaynabo, PR 969 Full Service B&M $411,604
Oriental Bank Ave. Mendez Vigo 173 West Mayaguez, PR 680 Full Service B&M $72,804
Oriental Bank Bairoa Shopping Center, Unit 12 A Caguas, PR 725 Full Service B&M $85,456
Oriental Bank Betances Ave. No 42-43 Bayamon, PR 958 Full Service B&M $136,572
Oriental Bank Calle Cristobal Colon #21 Yabucoa, PR 767 Full Service B&M $35,975
Oriental Bank Calle Jesus T. Piqero #46 Las Piedras, PR 771 Full Service B&M $65,935
Oriental Bank Carr #2 Km 159.9 Bo. Guanajibo Mayaguez, PR 680 Full Service B&M $268,337
Oriental Bank Carr 167 Km 0.6 Rexville Town Center Bayamon, PR 958 Full Service B&M $76,783
Oriental Bank Carr 176 Km 1.6 Bo Cupey San Juan, PR 926 Full Service B&M $124,820
Oriental Bank Carr 181 Trujillo Alto Shopping Center Trujillo Alto, PR 976 Full Service B&M $105,212
Oriental Bank Carr 20 Km 3.4 Exp Martinez Nadal Guaynabo, PR 966 Full Service B&M $125,306
Oriental Bank Carr. 1 Km. 33.6 Lote # 2 Bo. Bairoa Caguas, PR 725 Full Service B&M $107,328
Oriental Bank Gonzalez Giusti Ave. Guaynabo, PR 968 Full Service B&M $408,678
Oriental Bank Juana Diaz Shopping Center Juana Diaz, PR 795 Full Service B&M $64,548
Oriental Bank La Rambla Shopping Mall Ponce, PR 731 Full Service B&M $129,466
Oriental Bank Las Catalinas Mall Pr52 Int. Pr-156 Caguas, PR 725 Full Service B&M $121,854
Oriental Bank Las Vistas Shopping Village Rio Piedras, PR 926 Full Service B&M $238,294
Oriental Bank Los Colobos Shopping Center, Road 3 Carolina, PR 985 Full Service B&M $92,144
Oriental Bank Manati Plaza Centro, State Road Pr #2 And 149 Manati, PR 674 Full Service B&M $72,805
Oriental Bank State Road #3 K20 H3 Rio Grande, PR 745 Full Service B&M $42,791
Oriental Bank Torre Medica #101 Hosp Auxilio Mutuo Hato Rey, PR 917 Full Service Retail $854
Oriental Bank Urb Cabo Caribe Carr #2 Vega Baja, PR 693 Full Service B&M $89,044
Oriental Bank Yauco Plaza Shopping Mall Yauco, PR 698 Full Service B&M $50,436
Oriental Bank #3 Progreso Street Catano, PR 963 Full Service B&M $33,070
Oriental Bank #50, Jose Quinton Street Coamo, PR 769 Full Service B&M $49,503
Oriental Bank #55 Eugenio Sanchez Lopez Street San Lorenzo, PR 754 Full Service B&M $53,829
Oriental Bank #601 Dr. Loyola Street Penuelas, PR 624 Full Service B&M $42,929
Oriental Bank 1408 Magdalena Avenue Condado, PR 907 Full Service B&M $194,595
Oriental Bank 1605 Ponce De Leon Ave. Santurce, PR 909 Full Service B&M $51,435
Oriental Bank 214c Altona And Welgunst Charlotte Amalie, VI 802 Full Service B&M $222,568
Oriental Bank 254 East, San Jose Ave. Aibonito, PR 705 Full Service B&M $53,720
Oriental Bank 254 Munoz Rivera San Juan, PR 918 Full Service B&M $248,387
Oriental Bank 254 Munoz Rivera Avenue, Oriental Center San Juan, PR 918 Full Service B&M $2,033,598
Oriental Bank 290 Jesus T. Pinero Avenue, Scotia Towers San Juan, PR 918 Full Service B&M $374,530
Oriental Bank 2do Nivel Carolina, PR 983 Full Service B&M $277,245
Oriental Bank 400 Ave Ponce De Leon San Juan, PR 918 Full Service B&M $86,359
Oriental Bank Munoz Marin Ave. Plaza Centro Ii Caguas, PR 726 Full Service B&M $58,957
Oriental Bank Plaza Fajardo Carr 3 Km. 42 Fajardo, PR 738 Full Service B&M $123,444
Oriental Bank Plaza Guayama Shopping Mall Guayama, PR 784 Full Service B&M $100,203
Oriental Bank Plaza Las Americas 1er Nivel Local 478 Hato Rey, PR 919 Full Service B&M $224,403
Oriental Bank Plaza Las Americas Mall San Juan, PR 918 Full Service B&M $179,017
Oriental Bank Plaza Mall State Road Pr No. 52, & Pr . No. 3, Km 82.0 Humacao, PR 791 Full Service B&M $127,957
Oriental Bank Plaza Puerta Del Sol Carr 2 Km 49.7 Manati, PR 674 Full Service B&M $154,219
Oriental Bank Plz Del Caribe Mall Carr 2 Km 227.9 Ponce, PR 731 Full Service B&M $184,721
Oriental Bank Road #174 , Km. 1.9 Bayamon, PR 956 Full Service B&M $39,113
Oriental Bank Road 1 Km. 56.2, Pirez Hermanos Plaza Cayey, PR 736 Full Service B&M $51,906
Oriental Bank Road 167, Km 0.3 Bayamon, PR 956 Full Service B&M $90,142
Oriental Bank State Road #2 K. 129 H.3 Aguadilla, PR 603 Full Service B&M $73,342
Oriental Bank #2 Road Ponce, PR 731 Full Service B&M $146,455
Oriental Bank #2 Road, Plaza Del Norte Hatillo, PR 659 Full Service B&M $214,843

For 2021, Oriental Bank had 56 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $452,435
Net interest income $419,131
Total noninterest income $115,085
Gross Fiduciary activities income $11,684
Service charges on deposit accounts $19,460
Trading account gains and fees $0
Additional Noninterest Income $83,941
Pre-tax net operating income $210,708
Securities gains (or losses, -) $19
Income before extraordinary items $144,088
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $144,088
Minority interest net income $0
Net income $144,088
Sale, conversion, retirement of capital stock, net $0
Net operating income $144,072

Oriental Bank's gross interest income from loans was $452,435,000.
Oriental Bank's net interest income from loans was $419,131,000.
Oriental Bank's fee based income from loans was $19,460,000.
Oriental Bank's net income from loans was $144,088,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $33,304
Provision for credit losses $771
Total noninterest expense $322,737
Salaries and employee benefits $118,911
Premises and equipment expense $34,109
Additional noninterest expense $169,717
Applicable income taxes $66,639
Net charge-offs $49,755
Cash dividends $197,000

Oriental Bank's interest expense for loans was $33,304,000.
Oriental Bank's payroll and benefits expense were $118,911,000.
Oriental Bank's property, plant and equipment expenses $34,109,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 3.0%
Real Estate loans 5.0%
Construction & Land Development loans 1.0%
Nonfarm, nonresidential loans 6.0%
Multifamily residential loans 1.0%
1-4 family residential loans 5.0%
HELOC loans 1.0%
All other family 5.0%
Commercial & industrial loans 0.0%
Personal loans 1.0%
Credit card loans 1.4%
Other individual loans 1.0%
Auto loans 1.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $8,624,346
Deposits held in domestic offices $8,624,346
Deposits by Individuals, partnerships, and corporations $8,387,171
Deposits by U.S. Government $483
Deposits by States and political subdivisions in the U.S. $183,751
Deposits by Commercial banks and other depository institutions in U.S. $52,361
Deposits by Banks in foreign countries $580
Deposits by Foreign governments and official institutions $0
Transaction accounts $5,218,424
Demand deposits $2,515,788
Nontransaction accounts $3,405,922
Money market deposit accounts (MMDAs) $22,526
Other savings deposits (excluding MMDAs) $2,163,134
Total time deposits $1,220,263
Total time and savings deposits $6,108,558
Noninterest-bearing deposits $2,515,788
Interest-bearing deposits $6,108,558
Retail deposits $8,257,355
IRAs and Keogh plan accounts $241,999
Brokered deposits $11,366
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $9,805,742
Cash & Balances due from depository institutions $1,955,617
Interest-bearing balances $1,901,984
Total securities $876,964
Federal funds sold & reverse repurchase $0
Net loans and leases $6,329,311
Loan and leases loss allowance $155,937
Trading account assets $1
Bank premises and fixed assets $103,033
Other real estate owned $15,040
Goodwill and other intangibles $169,129
All other assets $356,647

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $9,805,742
Total Liabilities $8,794,595
Total deposits $8,624,346
Interest-bearing deposits $6,108,558
Deposits held in domestic offices $8,624,346
% insured (estimated) $62
Federal funds purchased and repurchase agreements $0
Trading liabilities $1
Other borrowed funds $73,316
Subordinated debt $0
All other liabilities $96,932

Issued Loan Types

Type Value (in 000's)
Net loans and leases $6,329,311
Loan and leases loss allowance $155,937
Total loans and leases (domestic) $6,485,248
All real estate loans $3,097,319
Real estate loans in domestic offices $3,097,319
Construction and development loans $90,238
Residential 1-4 family construction $1,948
Other construction, all land development and other land $88,290
Loans secured by nonfarm nonresidential properties $986,211
Nonfarm nonresidential secured by owner-occupied properties $424,835
Commercial real estate & other non-farm, non-residential $561,376
Multifamily residential real estate $29,091
1-4 family residential loans $1,973,566
Farmland loans $18,213
Loans held in foreign offices $0
Farm loans $7,743
Commercial and industrial loans $1,123,262
To non-U.S. addressees $0
Loans to individuals $2,077,480
Credit card loans $46,793
Related Plans $15,911
Consumer Auto Loans $1,668,659
Other loans to individuals $346,117
All other loans & leases $179,444
Loans to foreign governments and official institutions $0
Other loans $75,253
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 $112,929
Non 1-4 family restructured loans & leases $23,547
Total loans and leases (foreign) $0

Oriental Bank had $6,329,311,000 of loans outstanding in 2021. $3,097,319,000 of loans were in real estate loans. $90,238,000 of loans were in development loans. $29,091,000 of loans were in multifamily mortgage loans. $1,973,566,000 of loans were in 1-4 family mortgage loans. $7,743,000 of loans were in farm loans. $46,793,000 of loans were in credit card loans. $1,668,659,000 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 1,355 $213,252 $157,382
Nonfarm, nonresidential loans - <$100k 281 $11,708 $41,665
Nonfarm, nonresidential loans - $100-250k 591 $60,964 $103,154
Nonfarm, nonresidential loans - $250k-1MM 483 $140,580 $291,056
Commercial & Industrial, US addressed loans - <$1MM 6,989 $241,412 $34,542
Commercial & Industrial, US addressed loans - <$100k 5,333 $75,572 $14,171
Commercial & Industrial, US addressed loans - $100-250k 505 $47,008 $93,085
Commercial & Industrial, US addressed loans - $250k-1MM 1,151 $118,832 $103,242
Farmland loans - <$1MM 5 $246 $49,200
Farmland loans - <$100k 1 $8 $8,000
Farmland loans - $100-250k 4 $238 $59,500
Agriculture operations loans - <$1MM 7 $797 $113,857
Agriculture operations loans - <$100k 2 $96 $48,000
Agriculture operations loans - $100-250k 1 $24 $24,000
Agriculture operations loans - $250k-1MM 4 $677 $169,250