Collinsville Bank Mortgage Rates, Fees & Info

Collinsville, CT

LEI: 2549007DF4VYT8BYAG08

Tax ID: 06-0299530

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Collinsville Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Collinsville Bank has a high proportion of conventional loans. Their top markets by origination volume include: Hartford, New Haven, Torrington, and Norwich among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Collinsville 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. Collinsville Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    57

    Origination Dollar Volume (All Markets)

    $17,465,000

    Employee count

    36

    Awards

    Collinsville Bank 30 Year Conventional Loans silver Collinsville Bank 30 Year Conventional Loans silver
    Show all (2) awards

    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
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 40 $12,420,000 $310,500 $2,214 4.06%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 6 $2,520,000 $420,000 $4,169 4.14%
    Torrington, CT (FHA|USDA|VA) 9 $2,325,000 $258,333 $2,275 3.92%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 2 $200,000 $100,000 $5,021 4.63%
    Collinsville Bank's top markets include Hartford, New Haven, Torrington, and Norwich among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Collinsville Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    The Torrington Savings Bank
    Similarity Rank: 45
    POLISH NATIONAL
    Similarity Rank: 104
    SIKORSKY FINANCIAL
    Similarity Rank: 115
    Stafford Savings Bank
    Similarity Rank: 124
    Collinsville Bank
    Similarity Rank: 156
    Chelsea Groton Bank
    Similarity Rank: 210
    Charter Oak Federal Credit Union
    Similarity Rank: 258
    PeoplesBank
    Similarity Rank: 384
    Westfield Bank
    Similarity Rank: 391
    AMERICAN EAGLE FINANCIAL CREDIT UNION
    Similarity Rank: 468

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 57 $17,465,000 $306,404 $2,428 4.07%

    For 2019, Collinsville Bank's most frequently originated type of loan was Conventional, with 57 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 30 $12,140,000 $404,667 $3,131 4.00%
    Cash Out Refi 15 $3,565,000 $237,667 $2,161 4.13%
    Other 5 $645,000 $129,000 $1,411 4.25%
    Refi 4 $1,010,000 $252,500 $2,457 3.53%
    Home Improvement 3 $105,000 $35,000 $160 4.92%

    For 2019, Collinsville Bank's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Cash Out Refi, with 15 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 26 $7,780,000 $299,231 $3,050 3.91%
    15 Year 11 $1,695,000 $154,091 $2,234 3.74%
    20 Year 11 $2,715,000 $246,818 $855 4.53%
    5 Year 3 $275,000 $91,667 $0 3.67%
    Other 3 $4,355,000 $1,451,667 $0 5.09%
    10 Year 2 $40,000 $20,000 $240 4.50%
    30+ year 1 $605,000 $605,000 $3,599 4.13%

    For 2019, Collinsville Bank's most frequently cited loan duration was 30 Year, with 26 originations. The 2nd most popular length was 15 Year, with 11 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 39 $9,125,000 $233,974
    $1k-2k 2 $600,000 $300,000
    $3k-4k 1 $85,000 $85,000
    $5k+ 1 $605,000 $605,000

    Collinsville Bank's average total fees were $3,050, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 39 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 32 $8,480,000 $265,000
    4-5% 18 $6,920,000 $384,444
    5-6% 5 $1,785,000 $357,000
    2.5-3% 2 $280,000 $140,000

    During 2019, Collinsville Bank's average interest rate for loans was 3.91%, while their most frequently originated rate bucket for loans was 3-4%, with 32 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 20 $2,960,000 $148,000 $2,335 3.91%
    $200k-400k 15 $4,395,000 $293,000 $2,519 3.92%
    $100,000 or less 11 $545,000 $49,545 $1,082 4.39%
    $400k-600k 5 $2,395,000 $479,000 $2,242 3.74%
    $1MM+ 3 $5,205,000 $1,735,000 $6,830 4.52%
    $600k-1MM 3 $1,965,000 $655,000 $6,912 4.81%

    2019 saw Collinsville Bank place emphasis on $100k-200k loans with 20 originations, totaling $2,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 13 $3,065,000 $235,769 $2,489 3.78%
    $100k-150k 10 $1,890,000 $189,000 $2,570 3.81%
    $50k-75k 10 $1,000,000 $100,000 $1,374 4.21%
    $250k+ 9 $4,475,000 $497,222 $3,824 3.67%
    $50k or less 3 $245,000 $81,667 $1,485 4.38%
    $75k-100k 2 $290,000 $145,000 $2,995 4.19%

    Collinsville Bank lent most frequently to those with incomes in the $150k-250k range, with 13 originations. The second most popular income band? $100k-150k, with 10 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 13 $3,335,000 $256,538 $3,030 3.88%
    20-30% 13 $2,795,000 $215,000 $2,007 4.10%
    <20% 8 $1,580,000 $197,500 $2,591 3.84%
    36% 3 $365,000 $121,667 $754 4.63%
    37% 3 $545,000 $181,667 $2,551 3.58%
    39% 3 $1,565,000 $521,667 $3,430 3.71%
    41% 2 $400,000 $200,000 $3,056 3.94%
    44% 1 $125,000 $125,000 $2,269 4.13%
    38% 1 $205,000 $205,000 $2,454 3.25%
    40% 1 $125,000 $125,000 $2,369 3.00%
    42% 1 $235,000 $235,000 $0 3.50%

    Collinsville Bank lent most frequently to those with DTI ratios of 30-36%, with 13 originations. The next most common DTI ratio? 20-30%, with 13 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 46 $10,500,000 $228,261 $2,501 3.90%
    Not applicable 8 $6,190,000 $773,750 $0 5.01%
    Not provided 2 $660,000 $330,000 $932 4.19%
    Asian 1 $115,000 $115,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    92.75%

    Collinsville Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.72%

    Collinsville Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 57 $17,465,000 $306,404

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $5,860,000 $976,667
    Single Family (1-4 Units):Site-Built 51 $11,605,000 $227,549

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $860,000 $107,500 $1,583 4.48%
    40-60% 5 $915,000 $183,000 $2,281 3.78%
    60-80% 29 $12,685,000 $437,414 $3,040 4.15%
    80-100% 11 $2,925,000 $265,909 $2,818 3.67%
    Under 20% 4 $80,000 $20,000 $160 4.13%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Collinsville Savings Society 136 Main Street, Collinsville Canton, CT 6019 Full Service B&M $53,706
    Collinsville Savings Society 277 Albany Turnpike Collinsville, CT 6019 Full Service B&M $84,849

    For 2019, Collinsville Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,803
    Net interest income $5,196
    Total noninterest income $572
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $212
    Trading account gains and fees $0
    Additional Noninterest Income $360
    Pre-tax net operating income $616
    Securities gains (or losses, -) $269
    Income before extraordinary items $669
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $669
    Minority interest net income $0
    Net income $669
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $456

    Collinsville Bank's gross interest income from loans was $6,803,000.
    Collinsville Bank's net interest income from loans was $5,196,000.
    Collinsville Bank's fee based income from loans was $212,000.
    Collinsville Bank's net income from loans was $669,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,607
    Provision for credit losses $60
    Total noninterest expense $5,092
    Salaries and employee benefits $2,972
    Premises and equipment expense $432
    Additional noninterest expense $1,688
    Applicable income taxes $216
    Net charge-offs $13
    Cash dividends $276

    Collinsville Bank's interest expense for loans was $1,607,000.
    Collinsville Bank's payroll and benefits expense were $2,972,000.
    Collinsville Bank's property, plant and equipment expenses $432,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 4.0%
    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 $137,728
    Deposits held in domestic offices $137,728
    Deposits by Individuals, partnerships, and corporations $136,809
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $905
    Deposits by Commercial banks and other depository institutions in U.S. $14
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $46,949
    Demand deposits $28,692
    Nontransaction accounts $90,779
    Money market deposit accounts (MMDAs) $23,079
    Other savings deposits (excluding MMDAs) $25,979
    Total time deposits $41,721
    Total time and savings deposits $109,036
    Noninterest-bearing deposits $28,692
    Interest-bearing deposits $109,036
    Retail deposits $121,480
    IRAs and Keogh plan accounts $6,912
    Brokered deposits $10,023
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $169,666
    Cash & Balances due from depository institutions $6,076
    Interest-bearing balances $3,952
    Total securities $11,907
    Federal funds sold & reverse repurchase $0
    Net loans and leases $141,041
    Loan and leases loss allowance $1,300
    Trading account assets $0
    Bank premises and fixed assets $4,288
    Other real estate owned $136
    Goodwill and other intangibles $541
    All other assets $5,677

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $169,666
    Total Liabilities $153,858
    Total deposits $137,728
    Interest-bearing deposits $109,036
    Deposits held in domestic offices $137,728
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $15,000
    Subordinated debt $0
    All other liabilities $1,130

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $141,041
    Loan and leases loss allowance $1,300
    Total loans and leases (domestic) $142,341
    All real estate loans $123,963
    Real estate loans in domestic offices $123,963
    Construction and development loans $5,330
    Residential 1-4 family construction $2,003
    Other construction, all land development and other land $3,327
    Loans secured by nonfarm nonresidential properties $38,479
    Nonfarm nonresidential secured by owner-occupied properties $13,081
    Commercial real estate & other non-farm, non-residential $25,398
    Multifamily residential real estate $1,957
    1-4 family residential loans $78,197
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $13,953
    To non-U.S. addressees $0
    Loans to individuals $4,420
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $4,404
    Other loans to individuals $16
    All other loans & leases $5
    Loans to foreign governments and official institutions $0
    Other loans $5
    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 $1,102
    Non 1-4 family restructured loans & leases $852
    Total loans and leases (foreign) $0

    Collinsville Bank had $141,041,000 of loans outstanding in 2019. $123,963,000 of loans were in real estate loans. $5,330,000 of loans were in development loans. $1,957,000 of loans were in multifamily mortgage loans. $78,197,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,404,000 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 96 $25,289 $263,427
    Nonfarm, nonresidential loans - <$100k 11 $511 $46,455
    Nonfarm, nonresidential loans - $100-250k 26 $2,971 $114,269
    Nonfarm, nonresidential loans - $250k-1MM 59 $21,807 $369,610
    Commercial & Industrial, US addressed loans - <$1MM 94 $9,568 $101,787
    Commercial & Industrial, US addressed loans - <$100k 30 $1,144 $38,133
    Commercial & Industrial, US addressed loans - $100-250k 26 $1,624 $62,462
    Commercial & Industrial, US addressed loans - $250k-1MM 38 $6,800 $178,947