Canton Co-operative Bank Mortgage Rates, Fees & Info
Canton, MALEI: 254900PWTPCOI9QU5G90
Tax ID: 04-1207230
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Mortgage Data
Bank Data
Review & Overview
Canton Co-operative Bank is a smaller bank specializing in Refi and Home Purchase loans. Canton Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Barnstable Town, and Worcester among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Canton Co-operative 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.
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Originations
19Origination Dollar Volume (All Markets)
$6,235,000Employee count
16Top 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) | 13 | $4,635,000 | $356,538 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 3 | $945,000 | $315,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 19 | $6,235,000 | $328,158 | $0 | 0.00% |
For 2019, Canton Co-operative Bank's most frequently originated type of loan was Conventional, with 19 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 10 | $2,900,000 | $290,000 | $0 | 0.00% |
| Home Purchase | 9 | $3,335,000 | $370,556 | $0 | 0.00% |
For 2019, Canton Co-operative Bank's most frequently cited loan purpose was Refi, with 10 originations. The 2nd most popular reason was Home Purchase, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 19 | $6,235,000 | $328,158 | $0 | 0.00% |
For 2019, Canton Co-operative Bank's most frequently cited loan duration was Other, with 19 originations.
Loan Sizing
2019 saw Canton Co-operative Bank place emphasis on $200k-400k loans with 9 originations, totaling $2,635,000 in origination value.
Applicant Income
Canton Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 7 originations. The second most popular income band? $75k-100k, with 7 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 19 | $6,235,000 | $328,158 | $0 | 0.00% |
Canton Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 19 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications82.76%
Canton Co-operative Bank has a below average approval rate.
Pick Rate
Approvals leading to origination78.95%
Canton Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 19 | $6,235,000 | $328,158 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 19 | $6,235,000 | $328,158 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Canton Co-operative Bank | 671 Washington Street Canton, MA 2021 | Full Service B&M | $100,859 |
For 2019, Canton Co-operative Bank had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $4,484 |
| Net interest income | $3,836 |
| Total noninterest income | $247 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $46 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $201 |
| Pre-tax net operating income | $896 |
| Securities gains (or losses, -) | $-5 |
| Income before extraordinary items | $684 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $684 |
| Minority interest net income | $0 |
| Net income | $684 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $687 |
Canton Co-operative Bank's gross interest income from loans was $4,484,000.
Canton Co-operative Bank's net interest income from loans was $3,836,000.
Canton Co-operative Bank's fee based income from loans was $46,000.
Canton Co-operative Bank's net income from loans was $684,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $648 |
| Provision for credit losses | $0 |
| Total noninterest expense | $3,187 |
| Salaries and employee benefits | $1,911 |
| Premises and equipment expense | $205 |
| Additional noninterest expense | $1,071 |
| Applicable income taxes | $207 |
| Net charge-offs | $1 |
| Cash dividends | $0 |
Canton Co-operative Bank's interest expense for loans was $648,000.
Canton Co-operative Bank's payroll and benefits expense were $1,911,000.
Canton Co-operative Bank's property, plant and equipment expenses $205,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 2.0% |
| Real Estate loans | 2.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 3.0% |
| HELOC loans | 3.0% |
| All other family | 3.0% |
| 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 | $102,276 |
| Deposits held in domestic offices | $102,276 |
| Deposits by Individuals, partnerships, and corporations | $102,276 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $0 |
| 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 | $29,863 |
| Demand deposits | $7,528 |
| Nontransaction accounts | $72,413 |
| Money market deposit accounts (MMDAs) | $20,532 |
| Other savings deposits (excluding MMDAs) | $23,284 |
| Total time deposits | $28,596 |
| Total time and savings deposits | $94,748 |
| Noninterest-bearing deposits | $7,528 |
| Interest-bearing deposits | $94,748 |
| Retail deposits | $94,773 |
| IRAs and Keogh plan accounts | $4,969 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $124,781 |
| Cash & Balances due from depository institutions | $23,618 |
| Interest-bearing balances | $21,388 |
| Total securities | $22,537 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $73,065 |
| Loan and leases loss allowance | $542 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $892 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $86 |
| All other assets | $4,583 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $124,781 |
| Total Liabilities | $105,064 |
| Total deposits | $102,276 |
| Interest-bearing deposits | $94,748 |
| Deposits held in domestic offices | $102,276 |
| % insured (estimated) | $77 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $2,500 |
| Subordinated debt | $0 |
| All other liabilities | $288 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $73,065 |
| Loan and leases loss allowance | $542 |
| Total loans and leases (domestic) | $73,607 |
| All real estate loans | $73,509 |
| Real estate loans in domestic offices | $73,509 |
| Construction and development loans | $7,145 |
| Residential 1-4 family construction | $3,932 |
| Other construction, all land development and other land | $3,213 |
| Loans secured by nonfarm nonresidential properties | $3,730 |
| Nonfarm nonresidential secured by owner-occupied properties | $961 |
| Commercial real estate & other non-farm, non-residential | $2,769 |
| Multifamily residential real estate | $717 |
| 1-4 family residential loans | $60,221 |
| Farmland loans | $1,696 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $42 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $56 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $30 |
| Other loans to individuals | $26 |
| 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 | $1,249 |
| Non 1-4 family restructured loans & leases | $864 |
| Total loans and leases (foreign) | $0 |
Canton Co-operative Bank had $73,065,000 of loans outstanding in 2019. $73,509,000 of loans were in real estate loans. $7,145,000 of loans were in development loans. $717,000 of loans were in multifamily mortgage loans. $60,221,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $30,000 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 | 7 | $1,661 | $237,286 |
| Nonfarm, nonresidential loans - <$100k | 2 | $145 | $72,500 |
| Nonfarm, nonresidential loans - $100-250k | 2 | $321 | $160,500 |
| Nonfarm, nonresidential loans - $250k-1MM | 3 | $1,195 | $398,333 |
| Commercial & Industrial, US addressed loans - <$1MM | 3 | $42 | $14,000 |
| Commercial & Industrial, US addressed loans - <$100k | 3 | $42 | $14,000 |