Franklin Savings Bank Mortgage Rates, Fees & Info

Franklin, NH

LEI: 254900J6JRSKHU1Y0F98

Tax ID: 02-0136360

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Franklin Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Franklin Savings Bank has a high proportion of conventional loans. Their top markets include Boston, Lebanon, Concord, Laconia, and Manchester among others. Franklin Savings Bank has an 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

207

Origination Dollar Volume (All Markets)

$87,735,000

Employee count

121

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 23 $29,695,000 $1,291,087 $0 0.00%
Lebanon, NH-VT (FHA|USDA|VA) 49 $16,625,000 $339,286 $0 0.00%
Concord, NH (FHA|USDA|VA) 59 $15,275,000 $258,898 $0 0.00%
Laconia, NH (FHA|USDA|VA) 40 $12,040,000 $301,000 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 28 $11,110,000 $396,786 $0 0.00%
Outside of Metro Areas 3 $1,385,000 $461,667 $0 0.00%
BANGOR, ME (FHA|USDA|VA) 1 $1,105,000 $1,105,000 $0 0.00%
Berlin, NH (FHA|USDA|VA) 4 $500,000 $125,000 $0 0.00%

Franklin Savings Bank's top markets include Boston, Lebanon, Concord, Laconia, and Manchester among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 207 $87,735,000 $423,841 $0 0.00%

For the 2021 period, Franklin Savings Bank's most frequently originated loan type of loans were Conventional, with 207 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 81 $38,095,000 $470,309 $0 0.00%
Home Purchase 72 $35,940,000 $499,167 $0 0.00%
Cash Out Refi 36 $9,820,000 $272,778 $0 0.00%
Other 10 $2,940,000 $294,000 $0 0.00%
Home Improvement 8 $940,000 $117,500 $0 0.00%

For the 2021, Franklin Savings Bank's most frequently cited loan purpose of loans were Refi, with 81 originations. The 2nd most popular reason of loans were Home Purchase, with 72 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 207 $87,735,000 $423,841 $0 0.00%

For the 2021, Franklin Savings Bank's most frequently cited loan length of loans were Other, with 207 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 68 $19,180,000 $282,059 $0 0.00%
$100k-200k 66 $9,930,000 $150,455 $0 0.00%
$400k-600k 25 $12,475,000 $499,000 $0 0.00%
$100,000 or less 22 $1,490,000 $67,727 $0 0.00%
$600k-1MM 15 $11,155,000 $743,667 $0 0.00%
$1MM+ 11 $33,505,000 $3,045,909 $0 0.00%

2021 saw Franklin Savings Bank place emphasis on $200k-400k loans with 68 originations, totaling $19,180,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 33 $9,225,000 $279,545 $0 0.00%
$75k-100k 32 $6,570,000 $205,313 $0 0.00%
$250k+ 27 $16,255,000 $602,037 $0 0.00%
$150k-250k 26 $8,490,000 $326,538 $0 0.00%
$50k-75k 25 $3,355,000 $134,200 $0 0.00%
$50k or less 18 $2,040,000 $113,333 $0 0.00%

Franklin Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $75k-100k, with 32 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 207 $87,735,000 $423,841 $0 0.00%

Franklin Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 207 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 41 $39,725,000 $968,902 $0 0.00%
White 133 $36,595,000 $275,150 $0 0.00%
Not provided 28 $9,950,000 $355,357 $0 0.00%
Asian 4 $1,080,000 $270,000 $0 0.00%
Asian Indian 1 $385,000 $385,000 $0 0.00%

Approval Rates

Total approvals of all applications
83.50%

Franklin Savings Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
78.30%

Franklin Savings Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 207 $87,735,000 $423,841

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
207 $87,735,000 $423,841

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
FRANKLIN LOAN CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
FRANKLIN LOAN CORPORATION Conventional home mortgage Trouble during payment process 1 50.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Franklin Savings Bank 1 Dobson Way Merrimack, NH 3054 Full Service B&M $20,931
Franklin Savings Bank 350 Lake Street Bristol, NH 3222 Full Service B&M $91,742
Franklin Savings Bank 387 Central St Franklin, NH 3235 Full Service B&M $190,278
Franklin Savings Bank 387 Central Street Franklin, NH 3235 Full Service Cyber Office $4,574
Franklin Savings Bank 585 Mast Road, Goffstown, NH 3045 Full Service B&M $10,925
Franklin Savings Bank 61 Laconia Road, Suite 300 Tilton, NH 3276 Full Service B&M $38,298
Franklin Savings Bank 933 Central Street Franklin, NH 3235 Full Service B&M $61,469
Franklin Savings Bank 11 Saw Mill Road Gilford, NH 3249 Full Service B&M $91,470
Franklin Savings Bank 139 King Street Boscawen, NH 3303 Full Service B&M $77,080

For 2021, Franklin Savings Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $20,558
Net interest income $19,337
Total noninterest income $6,392
Gross Fiduciary activities income $0
Service charges on deposit accounts $681
Trading account gains and fees $0
Additional Noninterest Income $5,711
Pre-tax net operating income $7,828
Securities gains (or losses, -) $-22
Income before extraordinary items $6,054
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $6,054
Minority interest net income $0
Net income $6,054
Sale, conversion, retirement of capital stock, net $0
Net operating income $6,071

Franklin Savings Bank's gross interest income from loans was $20,558,000.
Franklin Savings Bank's net interest income from loans was $19,337,000.
Franklin Savings Bank's fee based income from loans was $681,000.
Franklin Savings Bank's net income from loans was $6,054,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,221
Provision for credit losses $235
Total noninterest expense $17,666
Salaries and employee benefits $10,401
Premises and equipment expense $1,878
Additional noninterest expense $5,387
Applicable income taxes $1,752
Net charge-offs $-6
Cash dividends $0

Franklin Savings Bank's interest expense for loans was $1,221,000.
Franklin Savings Bank's payroll and benefits expense were $10,401,000.
Franklin Savings Bank's property, plant and equipment expenses $1,878,000.

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 $605,365
Deposits held in domestic offices $605,365
Deposits by Individuals, partnerships, and corporations $529,070
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $76,294
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 $272,207
Demand deposits $184,101
Nontransaction accounts $333,157
Money market deposit accounts (MMDAs) $80,961
Other savings deposits (excluding MMDAs) $104,417
Total time deposits $147,780
Total time and savings deposits $421,263
Noninterest-bearing deposits $118,983
Interest-bearing deposits $486,382
Retail deposits $567,361
IRAs and Keogh plan accounts $36,208
Brokered deposits $13,741
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $687,682
Cash & Balances due from depository institutions $13,056
Interest-bearing balances $8,553
Total securities $195,322
Federal funds sold & reverse repurchase $0
Net loans and leases $441,768
Loan and leases loss allowance $3,799
Trading account assets $0
Bank premises and fixed assets $13,816
Other real estate owned $0
Goodwill and other intangibles $980
All other assets $22,740

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $687,682
Total Liabilities $625,273
Total deposits $605,365
Interest-bearing deposits $486,382
Deposits held in domestic offices $605,365
% insured (estimated) $81
Federal funds purchased and repurchase agreements $10,622
Trading liabilities $0
Other borrowed funds $2,175
Subordinated debt $0
All other liabilities $7,111

Issued Loan Types

Type Value (in 000's)
Net loans and leases $441,768
Loan and leases loss allowance $3,799
Total loans and leases (domestic) $445,567
All real estate loans $410,939
Real estate loans in domestic offices $410,939
Construction and development loans $17,318
Residential 1-4 family construction $1,073
Other construction, all land development and other land $16,245
Loans secured by nonfarm nonresidential properties $188,973
Nonfarm nonresidential secured by owner-occupied properties $64,526
Commercial real estate & other non-farm, non-residential $124,447
Multifamily residential real estate $27,706
1-4 family residential loans $176,942
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $20,757
To non-U.S. addressees $0
Loans to individuals $1,642
Credit card loans $0
Related Plans $0
Consumer Auto Loans $69
Other loans to individuals $1,573
All other loans & leases $12,229
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 $2,859
Non 1-4 family restructured loans & leases $1,787
Total loans and leases (foreign) $0

Franklin Savings Bank had $441,768,000 of loans outstanding in 2021. $410,939,000 of loans were in real estate loans. $17,318,000 of loans were in development loans. $27,706,000 of loans were in multifamily mortgage loans. $176,942,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $69,000 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 260 $59,472 $228,738
Nonfarm, nonresidential loans - <$100k 47 $1,686 $35,872
Nonfarm, nonresidential loans - $100-250k 107 $14,431 $134,869
Nonfarm, nonresidential loans - $250k-1MM 106 $43,355 $409,009
Commercial & Industrial, US addressed loans - <$1MM 168 $11,691 $69,589
Commercial & Industrial, US addressed loans - <$100k 107 $2,270 $21,215
Commercial & Industrial, US addressed loans - $100-250k 36 $2,748 $76,333
Commercial & Industrial, US addressed loans - $250k-1MM 25 $6,673 $266,920