Franklin Savings Bank Mortgage Rates, Fees & Info

Franklin, NH

LEI: 254900J6JRSKHU1Y0F98

Tax ID: 02-0136360

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Mortgage Data

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

    Franklin Savings Bank is a smaller bank specializing in Home Purchase loans. Franklin Savings Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Laconia, Concord, Manchester, Lebanon, and Boston among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Franklin Savings Bank has an 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

    152

    Origination Dollar Volume (All Markets)

    $30,090,000

    Employee count

    111

    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
    Laconia, NH (FHA|USDA|VA) 58 $11,360,000 $195,862 $0 0.00%
    Concord, NH (FHA|USDA|VA) 46 $6,960,000 $151,304 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 17 $6,355,000 $373,824 $0 0.00%
    Lebanon, NH-VT (FHA|USDA|VA) 21 $3,415,000 $162,619 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 7 $1,385,000 $197,857 $0 0.00%
    Outside of Metro Areas 2 $540,000 $270,000 $0 0.00%
    Berlin, NH (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Franklin Savings Bank's top markets include Laconia, Concord, Manchester, Lebanon, and Boston among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 148 $29,340,000 $198,243 $0 0.00%
    USDA 4 $750,000 $187,500 $0 0.00%

    For 2018, Franklin Savings Bank's most frequently originated type of loan was Conventional, with 148 originations. Their 2nd most popular type was USDA, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 79 $18,815,000 $238,165 $0 0.00%
    Cash Out Refi 28 $4,650,000 $166,071 $0 0.00%
    Refi 21 $4,035,000 $192,143 $0 0.00%
    Home Improvement 16 $1,480,000 $92,500 $0 0.00%
    Other 8 $1,110,000 $138,750 $0 0.00%

    For 2018, Franklin Savings Bank's most frequently cited loan purpose was Home Purchase, with 79 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 152 $30,090,000 $197,961 $0 0.00%

    For 2018, Franklin Savings Bank's most frequently cited loan duration was Other, with 152 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 61 $8,965,000 $146,967 $0 0.00%
    $200k-400k 48 $12,890,000 $268,542 $0 0.00%
    $100,000 or less 35 $2,055,000 $58,714 $0 0.00%
    $400k-600k 6 $2,780,000 $463,333 $0 0.00%
    $1MM+ 2 $3,400,000 $1,700,000 $0 0.00%

    2018 saw Franklin Savings Bank place emphasis on $100k-200k loans with 61 originations, totaling $8,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 33 $6,495,000 $196,818 $0 0.00%
    $75k-100k 25 $3,865,000 $154,600 $0 0.00%
    $150k-250k 24 $5,590,000 $232,917 $0 0.00%
    $50k-75k 20 $3,230,000 $161,500 $0 0.00%
    $50k or less 19 $1,675,000 $88,158 $0 0.00%
    $250k+ 10 $3,410,000 $341,000 $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 25 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 152 $30,090,000 $197,961 $0 0.00%

    Franklin Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 152 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 105 $18,945,000 $180,429 $0 0.00%
    Not provided 29 $5,665,000 $195,345 $0 0.00%
    Not applicable 18 $5,480,000 $304,444 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.23%

    Franklin Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.66%

    Franklin Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 152 $30,090,000 $197,961

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $2,395,000 $2,395,000
    Single Family (1-4 Units):Site-Built 151 $27,695,000 $183,411

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    FRANKLIN LOAN CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    FRANKLIN LOAN CORPORATION Conventional home mortgage Struggling to pay mortgage 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 $5,443
    Franklin Savings Bank 11 Saw Mill Road Gilford, NH 3249 Full Service B&M $74,441
    Franklin Savings Bank 139 King Street Boscawen, NH 3303 Full Service B&M $46,781
    Franklin Savings Bank 350 Lake Street Bristol, NH 3222 Full Service B&M $63,647
    Franklin Savings Bank 387 Central Street Franklin, NH 3235 Full Service Cyber Office $1,256
    Franklin Savings Bank 387 Central Street Franklin, NH 3235 Full Service B&M $143,913
    Franklin Savings Bank 61 Laconia Road, Suite 300 Tilton, NH 3276 Full Service B&M $29,602
    Franklin Savings Bank 933 Central Street Franklin, NH 3235 Full Service B&M $43,367

    For 2018, Franklin Savings Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,995
    Net interest income $14,876
    Total noninterest income $4,851
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $920
    Trading account gains and fees $0
    Additional Noninterest Income $3,931
    Pre-tax net operating income $3,863
    Securities gains (or losses, -) $43
    Income before extraordinary items $3,207
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,207
    Minority interest net income $0
    Net income $3,207
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,171

    Franklin Savings Bank's gross interest income from loans was $17,995,000.
    Franklin Savings Bank's net interest income from loans was $14,876,000.
    Franklin Savings Bank's fee based income from loans was $920,000.
    Franklin Savings Bank's net income from loans was $3,207,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,119
    Provision for credit losses $212
    Total noninterest expense $15,652
    Salaries and employee benefits $8,927
    Premises and equipment expense $1,654
    Additional noninterest expense $5,071
    Applicable income taxes $699
    Net charge-offs $111
    Cash dividends $0

    Franklin Savings Bank's interest expense for loans was $3,119,000.
    Franklin Savings Bank's payroll and benefits expense were $8,927,000.
    Franklin Savings Bank's property, plant and equipment expenses $1,654,000.

    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 $416,300
    Deposits held in domestic offices $416,300
    Deposits by Individuals, partnerships, and corporations $357,555
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $58,744
    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 $159,732
    Demand deposits $101,553
    Nontransaction accounts $256,568
    Money market deposit accounts (MMDAs) $51,518
    Other savings deposits (excluding MMDAs) $56,901
    Total time deposits $148,149
    Total time and savings deposits $314,747
    Noninterest-bearing deposits $58,564
    Interest-bearing deposits $357,736
    Retail deposits $391,667
    IRAs and Keogh plan accounts $40,930
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $484,987
    Cash & Balances due from depository institutions $19,111
    Interest-bearing balances $15,815
    Total securities $83,823
    Federal funds sold & reverse repurchase $0
    Net loans and leases $348,435
    Loan and leases loss allowance $2,501
    Trading account assets $0
    Bank premises and fixed assets $12,184
    Other real estate owned $94
    Goodwill and other intangibles $980
    All other assets $20,360

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $484,987
    Total Liabilities $434,345
    Total deposits $416,300
    Interest-bearing deposits $357,736
    Deposits held in domestic offices $416,300
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $5,767
    Trading liabilities $0
    Other borrowed funds $6,675
    Subordinated debt $0
    All other liabilities $5,603

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $348,435
    Loan and leases loss allowance $2,501
    Total loans and leases (domestic) $350,936
    All real estate loans $306,224
    Real estate loans in domestic offices $306,224
    Construction and development loans $8,671
    Residential 1-4 family construction $908
    Other construction, all land development and other land $7,763
    Loans secured by nonfarm nonresidential properties $118,605
    Nonfarm nonresidential secured by owner-occupied properties $44,533
    Commercial real estate & other non-farm, non-residential $74,072
    Multifamily residential real estate $34,010
    1-4 family residential loans $144,938
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $20,324
    To non-U.S. addressees $0
    Loans to individuals $1,430
    Credit card loans $0
    Related Plans $27
    Consumer Auto Loans $15
    Other loans to individuals $1,388
    All other loans & leases $22,958
    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 $2,814
    Non 1-4 family restructured loans & leases $1,355
    Total loans and leases (foreign) $0

    Franklin Savings Bank had $348,435,000 of loans outstanding in 2018. $306,224,000 of loans were in real estate loans. $8,671,000 of loans were in development loans. $34,010,000 of loans were in multifamily mortgage loans. $144,938,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $15,000 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 244 $47,277 $193,758
    Nonfarm, nonresidential loans - <$100k 62 $2,998 $48,355
    Nonfarm, nonresidential loans - $100-250k 99 $13,603 $137,404
    Nonfarm, nonresidential loans - $250k-1MM 83 $30,676 $369,590
    Commercial & Industrial, US addressed loans - <$1MM 128 $10,855 $84,805
    Commercial & Industrial, US addressed loans - <$100k 77 $1,798 $23,351
    Commercial & Industrial, US addressed loans - $100-250k 30 $2,982 $99,400
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $6,075 $289,286