Royal Financial Mortgage Rates, Fees & Info

WILMINGTON, DE

LEI: 549300ZUNYZG3NYL2P40

Tax ID: 36-1710600

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Mortgage Data

Bank Data

Review & Overview

Royal Financial is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Royal Financial has a high proportion of conventional loans. Their top markets by origination volume include: Chicago, Akron, Charleston, Bozeman, and Michigan City among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Royal Financial 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

245

Origination Dollar Volume (All Markets)

$134,615,000

Employee count

61

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
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 235 $111,405,000 $474,064 $0 0.00%
AKRON, OH (FHA|USDA|VA) 1 $8,335,000 $8,335,000 $0 0.00%
Charleston-Mattoon, IL (FHA|USDA|VA) 1 $6,505,000 $6,505,000 $0 0.00%
Bozeman, MT (FHA|USDA|VA) 1 $3,325,000 $3,325,000 $0 0.00%
MICHIGAN CITY-LA PORTE, IN (FHA|USDA|VA) 2 $2,590,000 $1,295,000 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 2 $740,000 $370,000 $0 0.00%
KANKAKEE, IL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Royal Financial's top markets include Chicago, Akron, Charleston, Bozeman, and Michigan City among others.

Their top states include:
  • Illinois (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • Indiana (FHA|USDA|VA)
  • Montana (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 245 $134,615,000 $549,449 $0 0.00%

    For 2021, Royal Financial's most frequently originated type of loan was Conventional, with 245 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 129 $76,465,000 $592,752 $0 0.00%
    Cash Out Refi 65 $46,195,000 $710,692 $0 0.00%
    Refi 48 $10,590,000 $220,625 $0 0.00%
    Other 2 $1,340,000 $670,000 $0 0.00%
    Home Improvement 1 $25,000 $25,000 $0 0.00%

    For 2021, Royal Financial's most frequently cited loan purpose was Home Purchase, with 129 originations. The 2nd most popular reason was Cash Out Refi, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 245 $134,615,000 $549,449 $0 0.00%

    For 2021, Royal Financial's most frequently cited loan duration was Other, with 245 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 77 $22,335,000 $290,065 $0 0.00%
    $100k-200k 46 $6,500,000 $141,304 $0 0.00%
    $400k-600k 38 $18,110,000 $476,579 $0 0.00%
    $600k-1MM 36 $26,200,000 $727,778 $0 0.00%
    $1MM+ 31 $60,135,000 $1,939,839 $0 0.00%
    $100,000 or less 17 $1,335,000 $78,529 $0 0.00%

    2021 saw Royal Financial place emphasis on $200k-400k loans with 77 originations, totaling $22,335,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 34 $5,930,000 $174,412 $0 0.00%
    $250k+ 28 $18,860,000 $673,571 $0 0.00%
    $100k-150k 20 $6,760,000 $338,000 $0 0.00%
    $50k or less 20 $2,420,000 $121,000 $0 0.00%
    $75k-100k 16 $3,080,000 $192,500 $0 0.00%
    $150k-250k 10 $4,210,000 $421,000 $0 0.00%

    Royal Financial lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $250k+, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 245 $134,615,000 $549,449 $0 0.00%

    Royal Financial lent most frequently to those with DTI ratios of Exempt%, with 245 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 106 $89,120,000 $840,755 $0 0.00%
    White 123 $40,185,000 $326,707 $0 0.00%
    Black 8 $2,660,000 $332,500 $0 0.00%
    Asian 4 $1,340,000 $335,000 $0 0.00%
    Other Asian 1 $805,000 $805,000 $0 0.00%
    American Indian 2 $400,000 $200,000 $0 0.00%
    Native Hawaiian or Islander 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.54%

    Royal Financial has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.08%

    Royal Financial has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 245 $134,615,000 $549,449

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    245 $134,615,000 $549,449

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Royal Savings Bank 1410 West Taylor Street Chicago, IL 60607 Full Service B&M $8,552
    Royal Savings Bank 1823 W. 47th Street Chicago, IL 60609 Full Service B&M $8,271
    Royal Savings Bank 21 East Ogden Avenue Westmont, IL 60559 Full Service B&M $47,426
    Royal Savings Bank 2740 West 55th Street Chicago, IL 60632 Full Service B&M $27,774
    Royal Savings Bank 2869 South Archer Ave Chicago, IL 60608 Full Service B&M $29,308
    Royal Savings Bank 3448 E. 118th Street Chicago, IL 60617 Full Service Retail $26,685
    Royal Savings Bank 5400 South Pulaski Road Chicago, IL 60632 Full Service B&M $55,096
    Royal Savings Bank 7840 N. Milwaukee Avenue Niles, IL 60714 Full Service B&M $60,213
    Royal Savings Bank 9226 South Commercial Avenue Chicago, IL 60617 Full Service B&M $209,664

    For 2021, Royal Financial had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,930
    Net interest income $18,472
    Total noninterest income $660
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $204
    Trading account gains and fees $0
    Additional Noninterest Income $456
    Pre-tax net operating income $8,806
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,695
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,695
    Minority interest net income $0
    Net income $6,695
    Sale, conversion, retirement of capital stock, net $267
    Net operating income $6,695

    Royal Financial's gross interest income from loans was $19,930,000.
    Royal Financial's net interest income from loans was $18,472,000.
    Royal Financial's fee based income from loans was $204,000.
    Royal Financial's net income from loans was $6,695,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,458
    Provision for credit losses $-328
    Total noninterest expense $10,654
    Salaries and employee benefits $5,171
    Premises and equipment expense $2,039
    Additional noninterest expense $3,444
    Applicable income taxes $2,111
    Net charge-offs $-424
    Cash dividends $501

    Royal Financial's interest expense for loans was $1,458,000.
    Royal Financial's payroll and benefits expense were $5,171,000.
    Royal Financial's property, plant and equipment expenses $2,039,000.

    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 17.0%
    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 $488,836
    Deposits held in domestic offices $488,836
    Deposits by Individuals, partnerships, and corporations $429,594
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,502
    Deposits by Commercial banks and other depository institutions in U.S. $57,740
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $107,655
    Demand deposits $107,655
    Nontransaction accounts $381,181
    Money market deposit accounts (MMDAs) $67,186
    Other savings deposits (excluding MMDAs) $117,315
    Total time deposits $196,680
    Total time and savings deposits $381,181
    Noninterest-bearing deposits $90,246
    Interest-bearing deposits $398,590
    Retail deposits $331,571
    IRAs and Keogh plan accounts $13,815
    Brokered deposits $86,005
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $546,412
    Cash & Balances due from depository institutions $27,471
    Interest-bearing balances $24,344
    Total securities $31,425
    Federal funds sold & reverse repurchase $193
    Net loans and leases $461,092
    Loan and leases loss allowance $3,719
    Trading account assets $0
    Bank premises and fixed assets $15,067
    Other real estate owned $124
    Goodwill and other intangibles $2,223
    All other assets $8,817

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $546,412
    Total Liabilities $490,249
    Total deposits $488,836
    Interest-bearing deposits $398,590
    Deposits held in domestic offices $488,836
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,413

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $461,092
    Loan and leases loss allowance $3,719
    Total loans and leases (domestic) $464,811
    All real estate loans $459,497
    Real estate loans in domestic offices $459,497
    Construction and development loans $26,441
    Residential 1-4 family construction $6,582
    Other construction, all land development and other land $19,859
    Loans secured by nonfarm nonresidential properties $86,238
    Nonfarm nonresidential secured by owner-occupied properties $30,289
    Commercial real estate & other non-farm, non-residential $55,949
    Multifamily residential real estate $167,102
    1-4 family residential loans $179,716
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $4,054
    To non-U.S. addressees $0
    Loans to individuals $1,250
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $20
    Other loans to individuals $1,230
    All other loans & leases $10
    Loans to foreign governments and official institutions $0
    Other loans $10
    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 $498
    Non 1-4 family restructured loans & leases $15
    Total loans and leases (foreign) $0

    ROYAL FINANCIAL had $461,092,000 of loans outstanding in 2021. $459,497,000 of loans were in real estate loans. $26,441,000 of loans were in development loans. $167,102,000 of loans were in multifamily mortgage loans. $179,716,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $20,000 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 163 $42,961 $263,564
    Nonfarm, nonresidential loans - <$100k 21 $1,215 $57,857
    Nonfarm, nonresidential loans - $100-250k 60 $9,036 $150,600
    Nonfarm, nonresidential loans - $250k-1MM 82 $32,710 $398,902
    Commercial & Industrial, US addressed loans - <$1MM 46 $4,054 $88,130
    Commercial & Industrial, US addressed loans - <$100k 26 $544 $20,923
    Commercial & Industrial, US addressed loans - $100-250k 15 $1,502 $100,133
    Commercial & Industrial, US addressed loans - $250k-1MM 5 $2,008 $401,600