East Cambridge Savings Bank Mortgage Rates, Fees & Info

Cambridge, MA

LEI: 2549006A34A1F1ZGTT81

Tax ID: 04-1269550

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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 Refi loans. East Cambridge Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Worcester, Manchester, and Providence among others. We have data for 5 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.

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    Originations

    275

    Origination Dollar Volume (All Markets)

    $180,835,000

    Employee count

    149

    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) 264 $176,680,000 $669,242 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $2,240,000 $373,333 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 3 $1,425,000 $475,000 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    East Cambridge Savings Bank's top markets include Boston, Barnstable Town, Worcester, Manchester, and Providence among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 275 $180,835,000 $657,582 $0 0.00%

    For 2019, East Cambridge Savings Bank's most frequently originated type of loan was Conventional, with 275 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 143 $101,095,000 $706,958 $0 0.00%
    Cash Out Refi 75 $34,765,000 $463,533 $0 0.00%
    Refi 51 $43,195,000 $846,961 $0 0.00%
    Home Improvement 5 $1,665,000 $333,000 $0 0.00%
    Other 1 $115,000 $115,000 $0 0.00%

    For 2019, East Cambridge Savings Bank's most frequently cited loan purpose was Home Purchase, with 143 originations. The 2nd most popular reason was Cash Out Refi, with 75 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 275 $180,835,000 $657,582 $0 0.00%

    For 2019, East Cambridge Savings Bank's most frequently cited loan duration was Other, with 275 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 88 $27,450,000 $311,932 $0 0.00%
    $400k-600k 86 $42,120,000 $489,767 $0 0.00%
    $600k-1MM 42 $31,740,000 $755,714 $0 0.00%
    $1MM+ 39 $76,795,000 $1,969,103 $0 0.00%
    $100k-200k 18 $2,590,000 $143,889 $0 0.00%
    $100,000 or less 2 $140,000 $70,000 $0 0.00%

    2019 saw East Cambridge Savings Bank place emphasis on $200k-400k loans with 88 originations, totaling $27,450,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 71 $36,185,000 $509,648 $0 0.00%
    $100k-150k 58 $25,240,000 $435,172 $0 0.00%
    $250k+ 29 $18,765,000 $647,069 $0 0.00%
    $75k-100k 26 $9,410,000 $361,923 $0 0.00%
    $50k-75k 22 $6,830,000 $310,455 $0 0.00%
    $50k or less 9 $1,855,000 $206,111 $0 0.00%

    East Cambridge Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 71 originations. The second most popular income band? $100k-150k, with 58 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 275 $180,835,000 $657,582 $0 0.00%

    East Cambridge Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 275 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 57 $81,375,000 $1,427,632 $0 0.00%
    White 182 $78,200,000 $429,670 $0 0.00%
    Not provided 16 $8,940,000 $558,750 $0 0.00%
    Asian 11 $5,905,000 $536,818 $0 0.00%
    Asian Indian 3 $3,555,000 $1,185,000 $0 0.00%
    Black 5 $2,585,000 $517,000 $0 0.00%
    Chinese 1 $275,000 $275,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.19%

    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
    81.09%

    East Cambridge Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 275 $180,835,000 $657,582

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $27,500,000 $2,750,000
    Single Family (1-4 Units):Site-Built 265 $153,335,000 $578,623

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    EAST WEST BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 25.0%
    EAST WEST BANK Conventional home mortgage Closing on a mortgage 3 37.5%
    EAST WEST BANK Conventional home mortgage Struggling to pay mortgage 1 12.5%
    EAST WEST BANK Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 12.5%
    EAST WEST BANK Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 12.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    East Cambridge Savings Bank 105 Broadway Arlington, MA 2474 Full Service B&M $62,816
    East Cambridge Savings Bank 1310 Cambridge Street Cambridge, MA 2139 Full Service B&M $124,473
    East Cambridge Savings Bank 2067 Massachusetts Avenue Cambridge, MA 2140 Full Service B&M $32,918
    East Cambridge Savings Bank 243 Salem Street Medford, MA 2155 Full Service B&M $47,766
    East Cambridge Savings Bank 285 Highland Avenue Somerville, MA 2143 Full Service B&M $99,732
    East Cambridge Savings Bank 292 Cambridge Street Cambridge, MA 2141 Full Service B&M $258,333
    East Cambridge Savings Bank 360 Broadway Chelsea, MA 2150 Full Service B&M $66,869
    East Cambridge Savings Bank 395 Trapelo Road Belmont, MA 2478 Full Service B&M $121,773
    East Cambridge Savings Bank 459 Broadway Cambridge, MA 2138 Limited, Mobile/Seasonal Office $208
    East Cambridge Savings Bank 860 Lexington Street Waltham, MA 2452 Full Service B&M $62,684
    East Cambridge Savings Bank 9 Playstead Road Medford, MA 2155 Full Service B&M $33,915

    For 2019, East Cambridge Savings Bank had 11 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $42,653
    Net interest income $30,986
    Total noninterest income $4,217
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,470
    Trading account gains and fees $0
    Additional Noninterest Income $2,747
    Pre-tax net operating income $7,863
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,153
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,153
    Minority interest net income $0
    Net income $6,153
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,153

    East Cambridge Savings Bank's gross interest income from loans was $42,653,000.
    East Cambridge Savings Bank's net interest income from loans was $30,986,000.
    East Cambridge Savings Bank's fee based income from loans was $1,470,000.
    East Cambridge Savings Bank's net income from loans was $6,153,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $11,667
    Provision for credit losses $476
    Total noninterest expense $26,864
    Salaries and employee benefits $16,724
    Premises and equipment expense $3,360
    Additional noninterest expense $6,780
    Applicable income taxes $1,710
    Net charge-offs $5
    Cash dividends $0

    East Cambridge Savings Bank's interest expense for loans was $11,667,000.
    East Cambridge Savings Bank's payroll and benefits expense were $16,724,000.
    East Cambridge Savings Bank's property, plant and equipment expenses $3,360,000.

    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 $935,071
    Deposits held in domestic offices $935,071
    Deposits by Individuals, partnerships, and corporations $886,847
    Deposits by U.S. Government $24
    Deposits by States and political subdivisions in the U.S. $47,453
    Deposits by Commercial banks and other depository institutions in U.S. $746
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $162,133
    Demand deposits $123,200
    Nontransaction accounts $772,937
    Money market deposit accounts (MMDAs) $74,481
    Other savings deposits (excluding MMDAs) $322,278
    Total time deposits $376,179
    Total time and savings deposits $811,870
    Noninterest-bearing deposits $123,224
    Interest-bearing deposits $811,847
    Retail deposits $785,186
    IRAs and Keogh plan accounts $36,405
    Brokered deposits $9,992
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,106,794
    Cash & Balances due from depository institutions $45,325
    Interest-bearing balances $41,784
    Total securities $114,136
    Federal funds sold & reverse repurchase $0
    Net loans and leases $887,062
    Loan and leases loss allowance $5,259
    Trading account assets $0
    Bank premises and fixed assets $15,708
    Other real estate owned $83
    Goodwill and other intangibles $497
    All other assets $43,983

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,106,794
    Total Liabilities $993,081
    Total deposits $935,071
    Interest-bearing deposits $811,847
    Deposits held in domestic offices $935,071
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $41,153
    Subordinated debt $0
    All other liabilities $16,857

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $887,062
    Loan and leases loss allowance $5,259
    Total loans and leases (domestic) $892,321
    All real estate loans $855,604
    Real estate loans in domestic offices $855,604
    Construction and development loans $57,689
    Residential 1-4 family construction $33,775
    Other construction, all land development and other land $23,914
    Loans secured by nonfarm nonresidential properties $147,627
    Nonfarm nonresidential secured by owner-occupied properties $64,250
    Commercial real estate & other non-farm, non-residential $83,377
    Multifamily residential real estate $100,429
    1-4 family residential loans $549,859
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $25,900
    To non-U.S. addressees $0
    Loans to individuals $10,778
    Credit card loans $0
    Related Plans $14
    Consumer Auto Loans $24
    Other loans to individuals $10,740
    All other loans & leases $40
    Loans to foreign governments and official institutions $0
    Other loans $40
    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 $887,062,000 of loans outstanding in 2019. $855,604,000 of loans were in real estate loans. $57,689,000 of loans were in development loans. $100,429,000 of loans were in multifamily mortgage loans. $549,859,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $24,000 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 85 $32,461 $381,894
    Nonfarm, nonresidential loans - <$100k 5 $315 $63,000
    Nonfarm, nonresidential loans - $100-250k 19 $2,446 $128,737
    Nonfarm, nonresidential loans - $250k-1MM 61 $29,700 $486,885
    Commercial & Industrial, US addressed loans - <$1MM 133 $15,165 $114,023
    Commercial & Industrial, US addressed loans - <$100k 75 $1,950 $26,000
    Commercial & Industrial, US addressed loans - $100-250k 20 $1,958 $97,900
    Commercial & Industrial, US addressed loans - $250k-1MM 38 $11,257 $296,237