East Cambridge Savings Bank Mortgage Rates, Fees & Info

Cambridge, MA

LEI: 2549006A34A1F1ZGTT81

Tax ID: 04-1269550

Latest/2023 | 2022 Data | 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 (Closing Costs)

    • Bank Data

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

    • Review & Overview

    East Cambridge Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. East Cambridge Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, and Vineyard Haven among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    East Cambridge Savings 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.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    229

    Origination Dollar Volume (All Markets)

    $169,195,000

    Employee count

    154

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 227 $168,635,000 $742,885 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    East Cambridge Savings Bank's top markets include Boston, Barnstable Town, and Vineyard Haven among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 229 $169,195,000 $738,843 $0 0.00%

    For 2018, East Cambridge Savings Bank's most frequently originated type of loan was Conventional, with 229 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 118 $84,410,000 $715,339 $0 0.00%
    Cash Out Refi 77 $51,795,000 $672,662 $0 0.00%
    Refi 19 $9,075,000 $477,632 $0 0.00%
    Home Improvement 13 $23,315,000 $1,793,462 $0 0.00%
    Other 2 $600,000 $300,000 $0 0.00%

    For 2018, East Cambridge Savings Bank's most frequently cited loan purpose was Home Purchase, with 118 originations. The 2nd most popular reason was Cash Out Refi, with 77 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 229 $169,195,000 $738,843 $0 0.00%

    For 2018, East Cambridge Savings Bank's most frequently cited loan duration was Other, with 229 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 71 $53,385,000 $751,901 $0 0.00%
    $200k-400k 65 $19,005,000 $292,385 $0 0.00%
    $400k-600k 39 $19,585,000 $502,179 $0 0.00%
    $1MM+ 31 $74,175,000 $2,392,742 $0 0.00%
    $100k-200k 18 $2,760,000 $153,333 $0 0.00%
    $100,000 or less 5 $285,000 $57,000 $0 0.00%

    2018 saw East Cambridge Savings Bank place emphasis on $600k-1MM loans with 71 originations, totaling $53,385,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 49 $31,575,000 $644,388 $0 0.00%
    $100k-150k 40 $17,500,000 $437,500 $0 0.00%
    $250k+ 35 $28,415,000 $811,857 $0 0.00%
    $50k-75k 22 $6,310,000 $286,818 $0 0.00%
    $75k-100k 16 $4,030,000 $251,875 $0 0.00%
    $50k or less 9 $2,595,000 $288,333 $0 0.00%

    East Cambridge Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 49 originations. The second most popular income band? $100k-150k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 229 $169,195,000 $738,843 $0 0.00%

    East Cambridge Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 229 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 53 $76,845,000 $1,449,906 $0 0.00%
    White 138 $69,160,000 $501,159 $0 0.00%
    Not provided 21 $14,065,000 $669,762 $0 0.00%
    Asian 8 $5,380,000 $672,500 $0 0.00%
    Black 6 $2,360,000 $393,333 $0 0.00%
    Asian Indian 2 $950,000 $475,000 $0 0.00%
    Korean 1 $435,000 $435,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.52%

    East Cambridge Savings 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
    83.41%

    East Cambridge Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 229 $169,195,000 $738,843

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $39,190,000 $3,265,833
    Single Family (1-4 Units):Site-Built 217 $130,005,000 $599,101

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    EAST WEST BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    EAST WEST BANK Conventional home mortgage Struggling to pay mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    East Cambridge Savings Bank 459 Broadway Cambridge, MA 2138 Limited, Mobile/Seasonal Office $209
    East Cambridge Savings Bank 105 Broadway Arlington, MA 2474 Full Service B&M $60,737
    East Cambridge Savings Bank 1310 Cambridge Street Cambridge, MA 2139 Full Service B&M $129,644
    East Cambridge Savings Bank 2067 Massachusetts Avenue Cambridge, MA 2140 Full Service B&M $29,908
    East Cambridge Savings Bank 243 Salem Street Medford, MA 2155 Full Service B&M $44,273
    East Cambridge Savings Bank 285 Highland Avenue Somerville, MA 2143 Full Service B&M $93,660
    East Cambridge Savings Bank 292 Cambridge Street Cambridge, MA 2141 Full Service B&M $272,879
    East Cambridge Savings Bank 360 Broadway Chelsea, MA 2150 Full Service B&M $64,752
    East Cambridge Savings Bank 395 Trapelo Road Belmont, MA 2478 Full Service B&M $111,080
    East Cambridge Savings Bank 860 Lexington Street Waltham, MA 2452 Full Service B&M $60,291
    East Cambridge Savings Bank 9 Playstead Road Medford, MA 2155 Full Service B&M $28,206

    For 2018, East Cambridge Savings Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $38,479
    Net interest income $31,361
    Total noninterest income $3,681
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,378
    Trading account gains and fees $0
    Additional Noninterest Income $2,303
    Pre-tax net operating income $8,652
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,700
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,700
    Minority interest net income $0
    Net income $6,700
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,700

    East Cambridge Savings Bank's gross interest income from loans was $38,479,000.
    East Cambridge Savings Bank's net interest income from loans was $31,361,000.
    East Cambridge Savings Bank's fee based income from loans was $1,378,000.
    East Cambridge Savings Bank's net income from loans was $6,700,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,118
    Provision for credit losses $8
    Total noninterest expense $26,382
    Salaries and employee benefits $16,667
    Premises and equipment expense $3,261
    Additional noninterest expense $6,454
    Applicable income taxes $1,952
    Net charge-offs $-52
    Cash dividends $0

    East Cambridge Savings Bank's interest expense for loans was $7,118,000.
    East Cambridge Savings Bank's payroll and benefits expense were $16,667,000.
    East Cambridge Savings Bank's property, plant and equipment expenses $3,261,000.

    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 $893,683
    Deposits held in domestic offices $893,683
    Deposits by Individuals, partnerships, and corporations $856,928
    Deposits by U.S. Government $25
    Deposits by States and political subdivisions in the U.S. $35,376
    Deposits by Commercial banks and other depository institutions in U.S. $1,354
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $166,639
    Demand deposits $131,450
    Nontransaction accounts $727,044
    Money market deposit accounts (MMDAs) $53,471
    Other savings deposits (excluding MMDAs) $318,336
    Total time deposits $355,237
    Total time and savings deposits $762,233
    Noninterest-bearing deposits $131,476
    Interest-bearing deposits $762,207
    Retail deposits $768,713
    IRAs and Keogh plan accounts $37,799
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,077,667
    Cash & Balances due from depository institutions $42,164
    Interest-bearing balances $38,301
    Total securities $118,096
    Federal funds sold & reverse repurchase $0
    Net loans and leases $857,423
    Loan and leases loss allowance $4,788
    Trading account assets $0
    Bank premises and fixed assets $14,734
    Other real estate owned $96
    Goodwill and other intangibles $564
    All other assets $44,590

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,077,667
    Total Liabilities $969,007
    Total deposits $893,683
    Interest-bearing deposits $762,207
    Deposits held in domestic offices $893,683
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $63,410
    Subordinated debt $0
    All other liabilities $11,914

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $857,423
    Loan and leases loss allowance $4,788
    Total loans and leases (domestic) $862,211
    All real estate loans $827,333
    Real estate loans in domestic offices $827,333
    Construction and development loans $51,831
    Residential 1-4 family construction $29,067
    Other construction, all land development and other land $22,764
    Loans secured by nonfarm nonresidential properties $115,614
    Nonfarm nonresidential secured by owner-occupied properties $49,400
    Commercial real estate & other non-farm, non-residential $66,214
    Multifamily residential real estate $93,353
    1-4 family residential loans $566,535
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $24,597
    To non-U.S. addressees $0
    Loans to individuals $10,254
    Credit card loans $0
    Related Plans $45
    Consumer Auto Loans $17
    Other loans to individuals $10,192
    All other loans & leases $27
    Loans to foreign governments and official institutions $0
    Other loans $27
    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 $857,423,000 of loans outstanding in 2018. $827,333,000 of loans were in real estate loans. $51,831,000 of loans were in development loans. $93,353,000 of loans were in multifamily mortgage loans. $566,535,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $17,000 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 88 $30,000 $340,909
    Nonfarm, nonresidential loans - <$100k 8 $287 $35,875
    Nonfarm, nonresidential loans - $100-250k 20 $2,366 $118,300
    Nonfarm, nonresidential loans - $250k-1MM 60 $27,347 $455,783
    Commercial & Industrial, US addressed loans - <$1MM 119 $14,344 $120,538
    Commercial & Industrial, US addressed loans - <$100k 59 $1,486 $25,186
    Commercial & Industrial, US addressed loans - $100-250k 18 $1,648 $91,556
    Commercial & Industrial, US addressed loans - $250k-1MM 42 $11,210 $266,905