Franklin Savings Bank Mortgage Rates, Fees & Info

Franklin, NH

LEI: 254900J6JRSKHU1Y0F98

Tax ID: 02-0136360

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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 and Home Purchase 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

    207

    Origination Dollar Volume (All Markets)

    $87,735,000

    Employee count

    121

    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) 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.

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

    • Product Mix

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

    For 2021, Franklin Savings Bank's most frequently originated type of loan was Conventional, with 207 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Franklin Savings Bank's most frequently cited loan purpose was Refi, with 81 originations. The 2nd most popular reason was 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 2021, Franklin Savings Bank's most frequently cited loan duration was 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
    85.92%

    Franklin Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.47%

    Franklin Savings Bank has an 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 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
    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

    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