The Lowell Five Cent Savings Bank Mortgage Rates, Fees & Info
Tewksbury, MA
LEI: 254900F213LCBO4VGA06
Tax ID: 45-3131005
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Mortgage Data
Bank Data
Overview
The Lowell Five Cent Savings Bank is a
smaller
bank
specializing in
Home Purchase and Refi loans.
The Lowell Five Cent Savings Bank has a high proportion of conventional loans.
Their top markets include Boston, Manchester, Worcester, Laconia, and Portland among others. The Lowell Five Cent 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
183
Origination Dollar Volume (All Markets)
$101,785,000
Employee count
208
Top Markets
Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA)
|
146
|
$87,000,000 |
$595,890 |
$0 |
0.00% |
MANCHESTER-NASHUA, NH (FHA|USDA|VA)
|
18
|
$6,360,000 |
$353,333 |
$0 |
0.00% |
WORCESTER, MA-CT (FHA|USDA|VA)
|
11
|
$3,945,000 |
$358,636 |
$0 |
0.00% |
Outside of Metro Areas
|
1 |
$1,835,000 |
$1,835,000 |
$0 |
0.00% |
Laconia, NH (FHA|USDA|VA)
|
2
|
$840,000 |
$420,000 |
$0 |
0.00% |
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA)
|
1
|
$755,000 |
$755,000 |
$0 |
0.00% |
Concord, NH (FHA|USDA|VA)
|
3
|
$595,000 |
$198,333 |
$0 |
0.00% |
BARNSTABLE TOWN, MA (FHA|USDA|VA)
|
1
|
$455,000 |
$455,000 |
$0 |
0.00% |
The Lowell Five Cent Savings Bank's top markets include Boston, Manchester, Worcester, Laconia, and Portland among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
183 |
$101,785,000 |
$556,202 |
$0 |
0.00% |
For the 2021 period, The Lowell Five Cent Savings Bank's most frequently
originated loan type
of loans were Conventional, with 183 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Home Purchase |
93 |
$64,935,000 |
$698,226 |
$0 |
0.00% |
Refi |
73 |
$34,395,000 |
$471,164 |
$0 |
0.00% |
Home Improvement |
15 |
$2,335,000 |
$155,667 |
$0 |
0.00% |
Other |
2 |
$120,000 |
$60,000 |
$0 |
0.00% |
For the 2021, The Lowell Five Cent Savings Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 93
originations.
The 2nd most popular reason of loans were Refi,
with 73 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Other |
183 |
$101,785,000 |
$556,202 |
$0 |
0.00% |
For the 2021, The Lowell Five Cent Savings Bank's most frequently cited loan
length
of loans were Other, with 183 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$200k-400k |
51 |
$15,185,000 |
$297,745 |
$0 |
0.00% |
$600k-1MM |
35 |
$26,425,000 |
$755,000 |
$0 |
0.00% |
$100k-200k |
34 |
$5,160,000 |
$151,765 |
$0 |
0.00% |
$400k-600k |
29 |
$14,205,000 |
$489,828 |
$0 |
0.00% |
$1MM+ |
19 |
$39,995,000 |
$2,105,000 |
$0 |
0.00% |
$100,000 or less |
15 |
$815,000 |
$54,333 |
$0 |
0.00% |
2021 saw The Lowell Five Cent Savings Bank place emphasis on
$200k-400k loans
with 51 originations, totaling
$15,185,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$100k-150k |
25 |
$5,655,000 |
$226,200 |
$0 |
0.00% |
$150k-250k |
20 |
$7,480,000 |
$374,000 |
$0 |
0.00% |
$250k+ |
17 |
$12,385,000 |
$728,529 |
$0 |
0.00% |
$50k-75k |
13 |
$2,355,000 |
$181,154 |
$0 |
0.00% |
$75k-100k |
7 |
$1,855,000 |
$265,000 |
$0 |
0.00% |
$50k or less |
2 |
$580,000 |
$290,000 |
$0 |
0.00% |
The Lowell Five Cent Savings Bank lent most frequently to those with incomes in the
$100k-150k range, with
25 originations.
The second most popular income band? $150k-250k,
with 20 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Exempt% |
183 |
$101,785,000 |
$556,202 |
$0 |
0.00% |
The Lowell Five Cent Savings Bank lent most frequently to those with DTI ratios
of Exempt%, with
183 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Not applicable |
82 |
$64,840,000 |
$790,732 |
$0 |
0.00% |
White |
80 |
$28,590,000 |
$357,375 |
$0 |
0.00% |
Not provided |
14 |
$6,940,000 |
$495,714 |
$0 |
0.00% |
Asian |
3 |
$885,000 |
$295,000 |
$0 |
0.00% |
American Indian |
2 |
$330,000 |
$165,000 |
$0 |
0.00% |
Other Asian |
1 |
$165,000 |
$165,000 |
$0 |
0.00% |
Asian Indian |
1 |
$35,000 |
$35,000 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
92.09%
The Lowell Five Cent Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination
80.29%
The Lowell Five Cent Savings Bank has a below average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
Exempt |
183 |
$101,785,000 |
$556,202 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
183 |
$101,785,000 |
$556,202 |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
The Lowell Five Cent Savings Bank |
100 Littleton Road Westford, MA 1886 |
Limited, Mobile/Seasonal Office
|
$2,619 |
The Lowell Five Cent Savings Bank |
1095 Westford Street Lowell, MA 1851 |
Full Service B&M
|
$63,441 |
The Lowell Five Cent Savings Bank |
125 E. Dunstable Road Nashua, NH 3062 |
Full Service Retail
|
$62,179 |
The Lowell Five Cent Savings Bank |
1775 Main Street Tewksbury, MA 1876 |
Full Service B&M
|
$92,186 |
The Lowell Five Cent Savings Bank |
20 Groton Road North Chelmsford, MA 1863 |
Full Service B&M
|
$87,412 |
The Lowell Five Cent Savings Bank |
2021 Lakeview Avenue Dracut, MA 1826 |
Full Service B&M
|
$155,013 |
The Lowell Five Cent Savings Bank |
23 Fletcher Street Chelmsford, MA 1824 |
Full Service B&M
|
$161,025 |
The Lowell Five Cent Savings Bank |
270 Main Street Wilmington, MA 1887 |
Full Service B&M
|
$135,068 |
The Lowell Five Cent Savings Bank |
30 International Pl Tewksbury, MA 1876 |
Full Service B&M
|
$53,726 |
The Lowell Five Cent Savings Bank |
34 John St Lowell, MA 1852 |
Full Service B&M
|
$119,581 |
The Lowell Five Cent Savings Bank |
498 Chickering Road North Andover, MA 1845 |
Full Service B&M
|
$180,137 |
The Lowell Five Cent Savings Bank |
499 Groton Road Westford, MA 1886 |
Full Service B&M
|
$87,279 |
The Lowell Five Cent Savings Bank |
65 Groton Street Pepperell, MA 1463 |
Full Service B&M
|
$44,917 |
The Lowell Five Cent Savings Bank |
700 Boston Road Billerica, MA 1821 |
Full Service B&M
|
$52,199 |
The Lowell Five Cent Savings Bank |
750 Main Street Haverhill, MA 1830 |
Full Service B&M
|
$38,878 |
The Lowell Five Cent Savings Bank |
Route 113 Pawtucket Boulevard Tyngsboro, MA 1879 |
Limited, Mobile/Seasonal Office
|
$8,289 |
For 2021, The Lowell Five Cent Savings Bank had 16 branches.
Yearly Performance Overview
Bank Income
The Lowell Five Cent Savings Bank's gross interest income from loans was $49,622,000.
The Lowell Five Cent Savings Bank's net interest income from loans was $43,629,000.
The Lowell Five Cent Savings Bank's fee based income from loans was $919,000.
The Lowell Five Cent Savings Bank's net income from loans was $11,409,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$5,993 |
Provision for credit losses |
$175 |
Total noninterest expense |
$34,161 |
Salaries and employee benefits |
$22,787 |
Premises and equipment expense |
$3,639 |
Additional noninterest expense |
$7,735 |
Applicable income taxes |
$3,658 |
Net charge-offs |
$-188 |
Cash dividends |
$0 |
The Lowell Five Cent Savings Bank's interest expense for loans was $5,993,000.
The Lowell Five Cent Savings Bank's payroll and benefits expense were $22,787,000.
The Lowell Five Cent Savings Bank's property, plant and equipment expenses $3,639,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$1,479,663 |
Deposits held in domestic offices |
$1,479,663 |
Deposits by Individuals, partnerships, and corporations |
$1,214,326 |
Deposits by U.S. Government |
$0 |
Deposits by States and political subdivisions in the U.S. |
$265,337 |
Deposits by Commercial banks and other depository institutions in U.S. |
$0 |
Deposits by Banks in foreign countries |
$0 |
Deposits by Foreign governments and official institutions |
$0 |
Transaction accounts |
$553,559 |
Demand deposits |
$258,961 |
Nontransaction accounts |
$926,104 |
Money market deposit accounts (MMDAs) |
$477,360 |
Other savings deposits (excluding MMDAs) |
$297,533 |
Total time deposits |
$151,210 |
Total time and savings deposits |
$1,220,702 |
Noninterest-bearing deposits |
$258,858 |
Interest-bearing deposits |
$1,220,805 |
Retail deposits |
$1,432,338 |
IRAs and Keogh plan accounts |
$35,044 |
Brokered deposits |
$0 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$1,668,813 |
Cash & Balances due from depository institutions |
$350,354 |
Interest-bearing balances |
$337,762 |
Total securities |
$171,631 |
Federal funds sold & reverse repurchase |
$5 |
Net loans and leases |
$1,065,431 |
Loan and leases loss allowance |
$10,525 |
Trading account assets |
$0 |
Bank premises and fixed assets |
$28,246 |
Other real estate owned |
$0 |
Goodwill and other intangibles |
$0 |
All other assets |
$53,146 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$1,668,813 |
Total Liabilities |
$1,498,601 |
Total deposits |
$1,479,663 |
Interest-bearing deposits |
$1,220,805 |
Deposits held in domestic offices |
$1,479,663 |
% insured (estimated) |
$58 |
Federal funds purchased and repurchase agreements |
$0 |
Trading liabilities |
$0 |
Other borrowed funds |
$8,100 |
Subordinated debt |
$0 |
All other liabilities |
$10,838 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$1,065,431 |
Loan and leases loss allowance |
$10,525 |
Total loans and leases (domestic) |
$1,075,956 |
All real estate loans |
$991,065 |
Real estate loans in domestic offices |
$991,065 |
Construction and development loans |
$141,049 |
Residential 1-4 family construction |
$74,245 |
Other construction, all land development and other land |
$66,804 |
Loans secured by nonfarm nonresidential properties |
$390,804 |
Nonfarm nonresidential secured by owner-occupied properties |
$134,118 |
Commercial real estate & other non-farm, non-residential |
$256,686 |
Multifamily residential real estate |
$134,300 |
1-4 family residential loans |
$324,912 |
Farmland loans |
$0 |
Loans held in foreign offices |
$0 |
Farm loans |
$0 |
Commercial and industrial loans |
$83,244 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$1,647 |
Credit card loans |
$0 |
Related Plans |
$102 |
Consumer Auto Loans |
$23 |
Other loans to individuals |
$1,522 |
All other loans & leases |
$0 |
Loans to foreign governments and official institutions |
$0 |
Other loans |
$0 |
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 |
$2,520 |
Non 1-4 family restructured loans & leases |
$1,777 |
Total loans and leases (foreign) |
$0 |
The Lowell Five Cent Savings Bank had $1,065,431,000 of loans outstanding in 2021. $991,065,000 of loans were in real estate loans.
$141,049,000 of loans were in development loans. $134,300,000 of loans were in multifamily mortgage loans.
$324,912,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $23,000 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 |
217 |
$67,945 |
$313,111 |
Nonfarm, nonresidential loans - <$100k |
28 |
$1,454 |
$51,929 |
Nonfarm, nonresidential loans - $100-250k |
53 |
$7,339 |
$138,472 |
Nonfarm, nonresidential loans - $250k-1MM |
136 |
$59,152 |
$434,941 |
Commercial & Industrial, US addressed loans - <$1MM |
507 |
$35,205 |
$69,438 |
Commercial & Industrial, US addressed loans - <$100k |
314 |
$5,217 |
$16,615 |
Commercial & Industrial, US addressed loans - $100-250k |
94 |
$8,196 |
$87,191 |
Commercial & Industrial, US addressed loans - $250k-1MM |
99 |
$21,792 |
$220,121 |