The Lowell Five Cent Savings Bank Mortgage Rates, Fees & Info

Tewksbury, MA

LEI: 254900F213LCBO4VGA06

Tax ID: 45-3131005

2021 Data | 2020 Data | 2019 Data | 2018 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

Item Value (in 000's)
Total interest income $49,622
Net interest income $43,629
Total noninterest income $5,599
Gross Fiduciary activities income $0
Service charges on deposit accounts $919
Trading account gains and fees $0
Additional Noninterest Income $4,680
Pre-tax net operating income $14,892
Securities gains (or losses, -) $175
Income before extraordinary items $11,409
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $11,409
Minority interest net income $0
Net income $11,409
Sale, conversion, retirement of capital stock, net $0
Net operating income $11,270

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.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 1.0%
Real Estate loans 1.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 3.0%
Multifamily residential loans 0.0%
1-4 family residential loans 1.0%
HELOC loans 0.0%
All other family 1.0%
Commercial & industrial loans 1.0%
Personal loans 1.0%
Credit card loans 0.0%
Other individual loans 1.0%
Auto loans 0.0%
Other consumer loans 1.0%
Unsecured commercial real estate loans 0.0%

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