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

Tewksbury, MA

LEI: 254900F213LCBO4VGA06

Tax ID: 45-3131005

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Mortgage Data

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

    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 by origination volume include: Boston, Manchester, Portland, Worcester, and Barnstable Town among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Lowell Five Cent 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

    257

    Origination Dollar Volume (All Markets)

    $153,975,000

    Employee count

    217

    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) 215 $132,905,000 $618,163 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 20 $6,810,000 $340,500 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $6,490,000 $3,245,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 10 $3,140,000 $314,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $1,535,000 $511,667 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 2 $1,340,000 $670,000 $0 0.00%
    Concord, NH (FHA|USDA|VA) 2 $920,000 $460,000 $0 0.00%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    The Lowell Five Cent Savings Bank's top markets include Boston, Manchester, Portland, Worcester, and Barnstable Town among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 257 $153,975,000 $599,125 $0 0.00%

    For 2020, The Lowell Five Cent Savings Bank's most frequently originated type of loan was Conventional, with 257 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 121 $81,125,000 $670,455 $0 0.00%
    Refi 121 $69,255,000 $572,355 $0 0.00%
    Home Improvement 10 $2,700,000 $270,000 $0 0.00%
    Other 5 $895,000 $179,000 $0 0.00%

    For 2020, The Lowell Five Cent Savings Bank's most frequently cited loan purpose was Home Purchase, with 121 originations. The 2nd most popular reason was Refi, with 121 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 257 $153,975,000 $599,125 $0 0.00%

    For 2020, The Lowell Five Cent Savings Bank's most frequently cited loan duration was Other, with 257 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 89 $26,005,000 $292,191 $0 0.00%
    $400k-600k 62 $29,670,000 $478,548 $0 0.00%
    $100k-200k 38 $5,730,000 $150,789 $0 0.00%
    $600k-1MM 32 $24,360,000 $761,250 $0 0.00%
    $1MM+ 28 $67,770,000 $2,420,357 $0 0.00%
    $100,000 or less 8 $440,000 $55,000 $0 0.00%

    2020 saw The Lowell Five Cent Savings Bank place emphasis on $200k-400k loans with 89 originations, totaling $26,005,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 32 $9,810,000 $306,563 $0 0.00%
    $150k-250k 24 $10,870,000 $452,917 $0 0.00%
    $75k-100k 24 $5,890,000 $245,417 $0 0.00%
    $250k+ 19 $12,345,000 $649,737 $0 0.00%
    $50k-75k 16 $3,460,000 $216,250 $0 0.00%
    $50k or less 6 $1,110,000 $185,000 $0 0.00%

    The Lowell Five Cent Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $150k-250k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 257 $153,975,000 $599,125 $0 0.00%

    The Lowell Five Cent Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 257 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 110 $98,620,000 $896,545 $0 0.00%
    White 107 $40,175,000 $375,467 $0 0.00%
    Not provided 33 $13,825,000 $418,939 $0 0.00%
    Asian 4 $680,000 $170,000 $0 0.00%
    Black 2 $390,000 $195,000 $0 0.00%
    Asian Indian 1 $285,000 $285,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.35%

    The Lowell Five Cent Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.99%

    The Lowell Five Cent Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 257 $153,975,000 $599,125

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 43 $58,285,000 $1,355,465
    Single Family (1-4 Units):Site-Built 214 $95,690,000 $447,150

    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 $1,992
    The Lowell Five Cent Savings Bank 1095 Westford Street Lowell, MA 1851 Full Service B&M $58,938
    The Lowell Five Cent Savings Bank 125 E. Dunstable Road Nashua, NH 3062 Full Service Retail $51,486
    The Lowell Five Cent Savings Bank 1775 Main Street Tewksbury, MA 1876 Full Service B&M $83,002
    The Lowell Five Cent Savings Bank 20 Groton Road North Chelmsford, MA 1863 Full Service B&M $72,664
    The Lowell Five Cent Savings Bank 2021 Lakeview Avenue Dracut, MA 1826 Full Service B&M $136,852
    The Lowell Five Cent Savings Bank 23 Fletcher Street Chelmsford, MA 1824 Full Service B&M $142,508
    The Lowell Five Cent Savings Bank 270 Main Street Wilmington, MA 1887 Full Service B&M $113,741
    The Lowell Five Cent Savings Bank 30 International Pl Tewksbury, MA 1876 Full Service B&M $46,908
    The Lowell Five Cent Savings Bank 34 John St Lowell, MA 1852 Full Service B&M $99,402
    The Lowell Five Cent Savings Bank 498 Chickering Road North Andover, MA 1845 Full Service B&M $177,590
    The Lowell Five Cent Savings Bank 499 Groton Road Westford, MA 1886 Full Service B&M $80,050
    The Lowell Five Cent Savings Bank 65 Groton Street Pepperell, MA 1463 Full Service B&M $40,031
    The Lowell Five Cent Savings Bank 700 Boston Road Billerica, MA 1821 Full Service B&M $47,425
    The Lowell Five Cent Savings Bank 750 Main Street Haverhill, MA 1830 Full Service B&M $29,220
    The Lowell Five Cent Savings Bank Route 113 Pawtucket Boulevard Tyngsboro, MA 1879 Limited, Mobile/Seasonal Office $4,763

    For 2020, The Lowell Five Cent Savings Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $48,491
    Net interest income $40,756
    Total noninterest income $3,940
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $799
    Trading account gains and fees $0
    Additional Noninterest Income $3,141
    Pre-tax net operating income $10,078
    Securities gains (or losses, -) $-1,560
    Income before extraordinary items $6,701
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,701
    Minority interest net income $0
    Net income $6,701
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,933

    The Lowell Five Cent Savings Bank's gross interest income from loans was $48,491,000.
    The Lowell Five Cent Savings Bank's net interest income from loans was $40,756,000.
    The Lowell Five Cent Savings Bank's fee based income from loans was $799,000.
    The Lowell Five Cent Savings Bank's net income from loans was $6,701,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,735
    Provision for credit losses $1,925
    Total noninterest expense $32,693
    Salaries and employee benefits $20,962
    Premises and equipment expense $3,643
    Additional noninterest expense $8,088
    Applicable income taxes $1,817
    Net charge-offs $88
    Cash dividends $0

    The Lowell Five Cent Savings Bank's interest expense for loans was $7,735,000.
    The Lowell Five Cent Savings Bank's payroll and benefits expense were $20,962,000.
    The Lowell Five Cent Savings Bank's property, plant and equipment expenses $3,643,000.

    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 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 2.0%
    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 $1,249,145
    Deposits held in domestic offices $1,249,145
    Deposits by Individuals, partnerships, and corporations $1,068,461
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $180,684
    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 $436,326
    Demand deposits $208,810
    Nontransaction accounts $812,819
    Money market deposit accounts (MMDAs) $366,494
    Other savings deposits (excluding MMDAs) $262,789
    Total time deposits $183,536
    Total time and savings deposits $1,040,335
    Noninterest-bearing deposits $214,557
    Interest-bearing deposits $1,034,588
    Retail deposits $1,186,998
    IRAs and Keogh plan accounts $36,783
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,426,797
    Cash & Balances due from depository institutions $171,940
    Interest-bearing balances $156,024
    Total securities $107,853
    Federal funds sold & reverse repurchase $5
    Net loans and leases $1,070,874
    Loan and leases loss allowance $10,161
    Trading account assets $0
    Bank premises and fixed assets $29,168
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $46,957

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,426,797
    Total Liabilities $1,267,346
    Total deposits $1,249,145
    Interest-bearing deposits $1,034,588
    Deposits held in domestic offices $1,249,145
    % insured (estimated) $63
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $8,250
    Subordinated debt $0
    All other liabilities $9,951

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,070,874
    Loan and leases loss allowance $10,161
    Total loans and leases (domestic) $1,081,035
    All real estate loans $991,138
    Real estate loans in domestic offices $991,138
    Construction and development loans $136,438
    Residential 1-4 family construction $62,864
    Other construction, all land development and other land $73,574
    Loans secured by nonfarm nonresidential properties $363,069
    Nonfarm nonresidential secured by owner-occupied properties $119,296
    Commercial real estate & other non-farm, non-residential $243,773
    Multifamily residential real estate $111,715
    1-4 family residential loans $379,916
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $87,980
    To non-U.S. addressees $0
    Loans to individuals $1,917
    Credit card loans $0
    Related Plans $117
    Consumer Auto Loans $58
    Other loans to individuals $1,742
    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 $2,758
    Non 1-4 family restructured loans & leases $1,828
    Total loans and leases (foreign) $0

    The Lowell Five Cent Savings Bank had $1,070,874,000 of loans outstanding in 2020. $991,138,000 of loans were in real estate loans. $136,438,000 of loans were in development loans. $111,715,000 of loans were in multifamily mortgage loans. $379,916,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $58,000 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 220 $69,834 $317,427
    Nonfarm, nonresidential loans - <$100k 28 $1,375 $49,107
    Nonfarm, nonresidential loans - $100-250k 56 $8,459 $151,054
    Nonfarm, nonresidential loans - $250k-1MM 136 $60,000 $441,176
    Commercial & Industrial, US addressed loans - <$1MM 848 $58,038 $68,441
    Commercial & Industrial, US addressed loans - <$100k 587 $13,851 $23,596
    Commercial & Industrial, US addressed loans - $100-250k 145 $14,998 $103,434
    Commercial & Industrial, US addressed loans - $250k-1MM 116 $29,189 $251,629