East Cambridge Savings Bank Mortgage Rates, Fees & Info

Cambridge, MA

LEI: 2549006A34A1F1ZGTT81

Tax ID: 04-1269550

2021 Data | 2020 Data | 2019 Data | 2018 Data


Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Overview

    East Cambridge Savings Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. East Cambridge Savings Bank has a high proportion of conventional loans. Their top markets include Boston, Barnstable Town, Worcester, Manchester, and Springfield among others. East Cambridge Savings 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

    406

    Origination Dollar Volume (All Markets)

    $306,980,000

    Employee count

    149

    Top Markets

    Market Originations Total Value Average Loan Average Fees Average Rate
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 393 $298,295,000 $759,020 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $5,260,000 $876,667 $0 0.00%
    Outside of Metro Areas 1 $1,305,000 $1,305,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 3 $1,085,000 $361,667 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $435,000 $435,000 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%

    East Cambridge Savings Bank's top markets include Boston, Barnstable Town, Worcester, Manchester, and Springfield among others.

    Product Mix

    Loan Type Originations Total Value Average Loan Average Fees Average Rate
    Conventional 406 $306,980,000 $756,108 $0 0.00%

    For the 2021 period, East Cambridge Savings Bank's most frequently originated loan type of loans were Conventional, with 406 originations.

    Loan Reason

    Loan Reason Originations Total Value Average Loan Average Fees Average Rate
    Home Purchase 145 $148,315,000 $1,022,862 $0 0.00%
    Cash Out Refi 125 $67,355,000 $538,840 $0 0.00%
    Refi 124 $81,540,000 $657,581 $0 0.00%
    Home Improvement 6 $7,290,000 $1,215,000 $0 0.00%
    Other 6 $2,480,000 $413,333 $0 0.00%

    For the 2021, East Cambridge Savings Bank's most frequently cited loan purpose of loans were Home Purchase, with 145 originations. The 2nd most popular reason of loans were Cash Out Refi, with 125 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 406 $306,980,000 $756,108 $0 0.00%

    For the 2021, East Cambridge Savings Bank's most frequently cited loan length of loans were Other, with 406 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 112 $33,390,000 $298,125 $0 0.00%
    $600k-1MM 98 $77,440,000 $790,204 $0 0.00%
    $400k-600k 91 $43,525,000 $478,297 $0 0.00%
    $1MM+ 83 $149,275,000 $1,798,494 $0 0.00%
    $100k-200k 20 $3,200,000 $160,000 $0 0.00%
    $100,000 or less 2 $150,000 $75,000 $0 0.00%

    2021 saw East Cambridge Savings Bank place emphasis on $200k-400k loans with 112 originations, totaling $33,390,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 75 $33,675,000 $449,000 $0 0.00%
    $150k-250k 74 $48,620,000 $657,027 $0 0.00%
    $250k+ 65 $57,345,000 $882,231 $0 0.00%
    $75k-100k 47 $18,115,000 $385,426 $0 0.00%
    $50k-75k 45 $13,675,000 $303,889 $0 0.00%
    $50k or less 15 $6,295,000 $419,667 $0 0.00%

    East Cambridge Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 75 originations. The second most popular income band? $150k-250k, with 74 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 406 $306,980,000 $756,108 $0 0.00%

    East Cambridge Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 406 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 84 $128,800,000 $1,533,333 $0 0.00%
    White 237 $124,495,000 $525,295 $0 0.00%
    Not provided 42 $29,540,000 $703,333 $0 0.00%
    Black 21 $11,715,000 $557,857 $0 0.00%
    Asian 20 $11,690,000 $584,500 $0 0.00%
    Asian Indian 2 $740,000 $370,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.88%

    East Cambridge Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.60%

    East Cambridge Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 406 $306,980,000 $756,108

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    406 $306,980,000 $756,108

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    EAST WEST BANK Conventional home mortgage Closing on a mortgage 1 33.3%
    EAST WEST BANK Conventional home mortgage Struggling to pay mortgage 1 33.3%
    EAST WEST BANK Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    East Cambridge Savings Bank 105 Broadway Arlington, MA 2474 Full Service B&M $77,455
    East Cambridge Savings Bank 1310 Cambridge Street Cambridge, MA 2139 Full Service B&M $150,668
    East Cambridge Savings Bank 243 Salem Street Medford, MA 2155 Full Service B&M $56,130
    East Cambridge Savings Bank 285 Highland Avenue Somerville, MA 2143 Full Service B&M $156,118
    East Cambridge Savings Bank 292 Cambridge St Cambridge, MA 2141 Full Service B&M $331,160
    East Cambridge Savings Bank 360 Broadway Chelsea, MA 2150 Full Service B&M $83,686
    East Cambridge Savings Bank 395 Trapelo Road Belmont, MA 2478 Full Service B&M $121,430
    East Cambridge Savings Bank 459 Broadway Cambridge, MA 2138 Limited, Mobile/Seasonal Office $283
    East Cambridge Savings Bank 860 Lexington Street Waltham, MA 2452 Full Service B&M $55,902
    East Cambridge Savings Bank 9 Playstead Road Medford, MA 2155 Full Service B&M $40,211
    East Cambridge Savings Bank 98 Pleasant Street Malden, MA 2148 Full Service B&M $19,222

    For 2021, East Cambridge Savings Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $41,576
    Net interest income $37,217
    Total noninterest income $4,459
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,127
    Trading account gains and fees $0
    Additional Noninterest Income $3,332
    Pre-tax net operating income $10,808
    Securities gains (or losses, -) $0
    Income before extraordinary items $8,175
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,175
    Minority interest net income $0
    Net income $8,175
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,175

    East Cambridge Savings Bank's gross interest income from loans was $41,576,000.
    East Cambridge Savings Bank's net interest income from loans was $37,217,000.
    East Cambridge Savings Bank's fee based income from loans was $1,127,000.
    East Cambridge Savings Bank's net income from loans was $8,175,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,359
    Provision for credit losses $928
    Total noninterest expense $29,940
    Salaries and employee benefits $18,632
    Premises and equipment expense $3,486
    Additional noninterest expense $7,822
    Applicable income taxes $2,633
    Net charge-offs $-10
    Cash dividends $0

    East Cambridge Savings Bank's interest expense for loans was $4,359,000.
    East Cambridge Savings Bank's payroll and benefits expense were $18,632,000.
    East Cambridge Savings Bank's property, plant and equipment expenses $3,486,000.

    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 $1,152,798
    Deposits held in domestic offices $1,152,798
    Deposits by Individuals, partnerships, and corporations $1,098,173
    Deposits by U.S. Government $17
    Deposits by States and political subdivisions in the U.S. $54,031
    Deposits by Commercial banks and other depository institutions in U.S. $578
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $266,104
    Demand deposits $184,298
    Nontransaction accounts $886,695
    Money market deposit accounts (MMDAs) $152,317
    Other savings deposits (excluding MMDAs) $420,634
    Total time deposits $313,743
    Total time and savings deposits $968,501
    Noninterest-bearing deposits $184,315
    Interest-bearing deposits $968,483
    Retail deposits $1,018,348
    IRAs and Keogh plan accounts $31,569
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,317,811
    Cash & Balances due from depository institutions $45,053
    Interest-bearing balances $41,716
    Total securities $134,284
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,078,922
    Loan and leases loss allowance $7,398
    Trading account assets $0
    Bank premises and fixed assets $14,334
    Other real estate owned $96
    Goodwill and other intangibles $206
    All other assets $44,916

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,317,811
    Total Liabilities $1,185,575
    Total deposits $1,152,798
    Interest-bearing deposits $968,483
    Deposits held in domestic offices $1,152,798
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $20,128
    Subordinated debt $0
    All other liabilities $12,649

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,078,922
    Loan and leases loss allowance $7,398
    Total loans and leases (domestic) $1,086,320
    All real estate loans $1,032,321
    Real estate loans in domestic offices $1,032,321
    Construction and development loans $81,560
    Residential 1-4 family construction $59,634
    Other construction, all land development and other land $21,926
    Loans secured by nonfarm nonresidential properties $203,927
    Nonfarm nonresidential secured by owner-occupied properties $59,668
    Commercial real estate & other non-farm, non-residential $144,259
    Multifamily residential real estate $183,443
    1-4 family residential loans $563,391
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $43,424
    To non-U.S. addressees $0
    Loans to individuals $10,552
    Credit card loans $0
    Related Plans $4
    Consumer Auto Loans $25
    Other loans to individuals $10,523
    All other loans & leases $23
    Loans to foreign governments and official institutions $0
    Other loans $23
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    East Cambridge Savings Bank had $1,078,922,000 of loans outstanding in 2021. $1,032,321,000 of loans were in real estate loans. $81,560,000 of loans were in development loans. $183,443,000 of loans were in multifamily mortgage loans. $563,391,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $25,000 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 84 $32,338 $384,976
    Nonfarm, nonresidential loans - <$100k 4 $261 $65,250
    Nonfarm, nonresidential loans - $100-250k 17 $2,246 $132,118
    Nonfarm, nonresidential loans - $250k-1MM 63 $29,831 $473,508
    Commercial & Industrial, US addressed loans - <$1MM 240 $18,741 $78,088
    Commercial & Industrial, US addressed loans - <$100k 175 $3,370 $19,257
    Commercial & Industrial, US addressed loans - $100-250k 29 $3,176 $109,517
    Commercial & Industrial, US addressed loans - $250k-1MM 36 $12,195 $338,750