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 Refi, Home Purchase, and Cash Out Refi loans. Franklin Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Lebanon, Concord, Laconia, and Manchester among others. We have data for 8 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

    225

    Origination Dollar Volume (All Markets)

    $65,235,000

    Employee count

    117

    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) 30 $16,450,000 $548,333 $0 0.00%
    Lebanon, NH-VT (FHA|USDA|VA) 47 $12,645,000 $269,043 $0 0.00%
    Concord, NH (FHA|USDA|VA) 65 $12,235,000 $188,231 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 46 $11,330,000 $246,304 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 23 $6,295,000 $273,696 $0 0.00%
    Outside of Metro Areas 12 $6,100,000 $508,333 $0 0.00%
    Berlin, NH (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Keene, NH (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    Franklin Savings Bank's top markets include Boston, Lebanon, Concord, Laconia, and Manchester 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 225 $65,235,000 $289,933 $0 0.00%

    For 2020, Franklin Savings Bank's most frequently originated type of loan was Conventional, with 225 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 86 $24,230,000 $281,744 $0 0.00%
    Home Purchase 76 $25,080,000 $330,000 $0 0.00%
    Cash Out Refi 48 $14,580,000 $303,750 $0 0.00%
    Home Improvement 8 $890,000 $111,250 $0 0.00%
    Other 7 $455,000 $65,000 $0 0.00%

    For 2020, Franklin Savings Bank's most frequently cited loan purpose was Refi, with 86 originations. The 2nd most popular reason was Home Purchase, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 225 $65,235,000 $289,933 $0 0.00%

    For 2020, Franklin Savings Bank's most frequently cited loan duration was Other, with 225 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 79 $21,625,000 $273,734 $0 0.00%
    $100k-200k 71 $10,885,000 $153,310 $0 0.00%
    $100,000 or less 30 $1,740,000 $58,000 $0 0.00%
    $400k-600k 22 $10,480,000 $476,364 $0 0.00%
    $600k-1MM 18 $12,900,000 $716,667 $0 0.00%
    $1MM+ 5 $7,605,000 $1,521,000 $0 0.00%

    2020 saw Franklin Savings Bank place emphasis on $200k-400k loans with 79 originations, totaling $21,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 44 $11,340,000 $257,727 $0 0.00%
    $250k+ 39 $19,975,000 $512,179 $0 0.00%
    $150k-250k 36 $10,850,000 $301,389 $0 0.00%
    $75k-100k 33 $5,425,000 $164,394 $0 0.00%
    $50k-75k 31 $4,195,000 $135,323 $0 0.00%
    $50k or less 9 $825,000 $91,667 $0 0.00%

    Franklin Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 44 originations. The second most popular income band? $250k+, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 225 $65,235,000 $289,933 $0 0.00%

    Franklin Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 225 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 138 $36,760,000 $266,377 $0 0.00%
    Not provided 55 $16,105,000 $292,818 $0 0.00%
    Not applicable 30 $11,970,000 $399,000 $0 0.00%
    Vietnamese 1 $245,000 $245,000 $0 0.00%
    American Indian 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.17%

    Franklin Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    74.67%

    Franklin Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 225 $65,235,000 $289,933

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $2,410,000 $1,205,000
    Multifamily:Site-Built 5 $3,745,000 $749,000
    Single Family (1-4 Units):Manufactured 4 $500,000 $125,000
    Single Family (1-4 Units):Site-Built 214 $58,580,000 $273,738

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FRANKLIN FIRST FINANCIAL, LTD Conventional home mortgage Trouble during payment process 1 50.0%
    FRANKLIN FIRST FINANCIAL, LTD Reverse 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 $18,535
    Franklin Savings Bank 11 Saw Mill Road Gilford, NH 3249 Full Service B&M $82,548
    Franklin Savings Bank 139 King Street Boscawen, NH 3303 Full Service B&M $70,842
    Franklin Savings Bank 350 Lake Street Bristol, NH 3222 Full Service B&M $77,446
    Franklin Savings Bank 387 Central Street Franklin, NH 3235 Full Service Cyber Office $2,346
    Franklin Savings Bank 387 Central Street Franklin, NH 3235 Full Service B&M $174,142
    Franklin Savings Bank 585 Mast Road, Goffstown, NH 3045 Full Service B&M $8,240
    Franklin Savings Bank 61 Laconia Road, Suite 300 Tilton, NH 3276 Full Service B&M $35,646
    Franklin Savings Bank 933 Central Street Franklin, NH 3235 Full Service B&M $55,164

    For 2020, Franklin Savings Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,652
    Net interest income $17,653
    Total noninterest income $5,167
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $605
    Trading account gains and fees $0
    Additional Noninterest Income $4,562
    Pre-tax net operating income $5,416
    Securities gains (or losses, -) $-5
    Income before extraordinary items $4,121
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,121
    Minority interest net income $0
    Net income $4,121
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,124

    Franklin Savings Bank's gross interest income from loans was $20,652,000.
    Franklin Savings Bank's net interest income from loans was $17,653,000.
    Franklin Savings Bank's fee based income from loans was $605,000.
    Franklin Savings Bank's net income from loans was $4,121,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,999
    Provision for credit losses $819
    Total noninterest expense $16,585
    Salaries and employee benefits $9,942
    Premises and equipment expense $1,897
    Additional noninterest expense $4,746
    Applicable income taxes $1,290
    Net charge-offs $-6
    Cash dividends $0

    Franklin Savings Bank's interest expense for loans was $2,999,000.
    Franklin Savings Bank's payroll and benefits expense were $9,942,000.
    Franklin Savings Bank's property, plant and equipment expenses $1,897,000.

    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 $553,257
    Deposits held in domestic offices $553,257
    Deposits by Individuals, partnerships, and corporations $481,794
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $71,463
    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 $100,181
    Demand deposits $86,757
    Nontransaction accounts $453,077
    Money market deposit accounts (MMDAs) $68,158
    Other savings deposits (excluding MMDAs) $217,161
    Total time deposits $167,759
    Total time and savings deposits $466,501
    Noninterest-bearing deposits $100,271
    Interest-bearing deposits $452,986
    Retail deposits $513,204
    IRAs and Keogh plan accounts $40,825
    Brokered deposits $13,741
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $632,201
    Cash & Balances due from depository institutions $61,070
    Interest-bearing balances $56,880
    Total securities $145,033
    Federal funds sold & reverse repurchase $0
    Net loans and leases $392,225
    Loan and leases loss allowance $3,558
    Trading account assets $0
    Bank premises and fixed assets $12,987
    Other real estate owned $0
    Goodwill and other intangibles $980
    All other assets $19,906

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $632,201
    Total Liabilities $573,861
    Total deposits $553,257
    Interest-bearing deposits $452,986
    Deposits held in domestic offices $553,257
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $11,236
    Trading liabilities $0
    Other borrowed funds $2,175
    Subordinated debt $0
    All other liabilities $7,193

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $392,225
    Loan and leases loss allowance $3,558
    Total loans and leases (domestic) $395,783
    All real estate loans $342,701
    Real estate loans in domestic offices $342,701
    Construction and development loans $17,308
    Residential 1-4 family construction $1,309
    Other construction, all land development and other land $15,999
    Loans secured by nonfarm nonresidential properties $146,267
    Nonfarm nonresidential secured by owner-occupied properties $52,155
    Commercial real estate & other non-farm, non-residential $94,112
    Multifamily residential real estate $17,957
    1-4 family residential loans $161,169
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $39,863
    To non-U.S. addressees $0
    Loans to individuals $1,508
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $9
    Other loans to individuals $1,499
    All other loans & leases $11,711
    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 $1,968
    Non 1-4 family restructured loans & leases $704
    Total loans and leases (foreign) $0

    Franklin Savings Bank had $392,225,000 of loans outstanding in 2020. $342,701,000 of loans were in real estate loans. $17,308,000 of loans were in development loans. $17,957,000 of loans were in multifamily mortgage loans. $161,169,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $9,000 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 241 $48,898 $202,896
    Nonfarm, nonresidential loans - <$100k 56 $2,399 $42,839
    Nonfarm, nonresidential loans - $100-250k 105 $14,315 $136,333
    Nonfarm, nonresidential loans - $250k-1MM 80 $32,184 $402,300
    Commercial & Industrial, US addressed loans - <$1MM 300 $18,468 $61,560
    Commercial & Industrial, US addressed loans - <$100k 219 $4,712 $21,516
    Commercial & Industrial, US addressed loans - $100-250k 49 $4,698 $95,878
    Commercial & Industrial, US addressed loans - $250k-1MM 32 $9,058 $283,063