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, Worcester, and Barnstable Town 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 above 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
42Origination Dollar Volume (All Markets)
$17,900,000Employee 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) | 37 | $16,015,000 | $432,838 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 3 | $795,000 | $265,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $715,000 | $715,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 42 | $17,900,000 | $426,190 | $0 | 0.00% |
For 2020, Canton Co-operative Bank's most frequently originated type of loan was Conventional, with 42 originations.
Loan Reason
For 2020, Canton Co-operative Bank's most frequently cited loan purpose was Refi, with 29 originations. The 2nd most popular reason was Home Purchase, with 10 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 42 | $17,900,000 | $426,190 | $0 | 0.00% |
For 2020, Canton Co-operative Bank's most frequently cited loan duration was Other, with 42 originations.
Loan Sizing
2020 saw Canton Co-operative Bank place emphasis on $200k-400k loans with 17 originations, totaling $5,075,000 in origination value.
Applicant Income
Canton Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 12 originations. The second most popular income band? $150k-250k, with 12 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 42 | $17,900,000 | $426,190 | $0 | 0.00% |
Canton Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 42 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.36%
Canton Co-operative Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination88.10%
Canton Co-operative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 42 | $17,900,000 | $426,190 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 3 | $2,695,000 | $898,333 |
| Single Family (1-4 Units):Site-Built | 39 | $15,205,000 | $389,872 |
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 | $111,161 |
For 2020, Canton Co-operative Bank had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $4,329 |
| Net interest income | $3,718 |
| Total noninterest income | $217 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $30 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $187 |
| Pre-tax net operating income | $691 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $547 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $547 |
| Minority interest net income | $0 |
| Net income | $547 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $547 |
Canton Co-operative Bank's gross interest income from loans was $4,329,000.
Canton Co-operative Bank's net interest income from loans was $3,718,000.
Canton Co-operative Bank's fee based income from loans was $30,000.
Canton Co-operative Bank's net income from loans was $547,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $611 |
| Provision for credit losses | $37 |
| Total noninterest expense | $3,207 |
| Salaries and employee benefits | $1,925 |
| Premises and equipment expense | $226 |
| Additional noninterest expense | $1,056 |
| Applicable income taxes | $144 |
| Net charge-offs | $0 |
| Cash dividends | $0 |
Canton Co-operative Bank's interest expense for loans was $611,000.
Canton Co-operative Bank's payroll and benefits expense were $1,925,000.
Canton Co-operative Bank's property, plant and equipment expenses $226,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 6.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 2.0% |
| 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 | $116,291 |
| Deposits held in domestic offices | $116,291 |
| Deposits by Individuals, partnerships, and corporations | $116,291 |
| 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 | $33,483 |
| Demand deposits | $9,555 |
| Nontransaction accounts | $82,808 |
| Money market deposit accounts (MMDAs) | $25,809 |
| Other savings deposits (excluding MMDAs) | $28,838 |
| Total time deposits | $28,161 |
| Total time and savings deposits | $106,736 |
| Noninterest-bearing deposits | $9,555 |
| Interest-bearing deposits | $106,736 |
| Retail deposits | $109,040 |
| IRAs and Keogh plan accounts | $4,777 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $139,306 |
| Cash & Balances due from depository institutions | $24,616 |
| Interest-bearing balances | $22,920 |
| Total securities | $29,467 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $79,924 |
| Loan and leases loss allowance | $579 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $867 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $60 |
| All other assets | $4,372 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $139,306 |
| Total Liabilities | $118,522 |
| Total deposits | $116,291 |
| Interest-bearing deposits | $106,736 |
| Deposits held in domestic offices | $116,291 |
| % insured (estimated) | $73 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $2,000 |
| Subordinated debt | $0 |
| All other liabilities | $231 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $79,924 |
| Loan and leases loss allowance | $579 |
| Total loans and leases (domestic) | $80,503 |
| All real estate loans | $77,210 |
| Real estate loans in domestic offices | $77,210 |
| Construction and development loans | $12,756 |
| Residential 1-4 family construction | $9,736 |
| Other construction, all land development and other land | $3,020 |
| Loans secured by nonfarm nonresidential properties | $6,448 |
| Nonfarm nonresidential secured by owner-occupied properties | $3,214 |
| Commercial real estate & other non-farm, non-residential | $3,234 |
| Multifamily residential real estate | $4,038 |
| 1-4 family residential loans | $51,445 |
| Farmland loans | $2,523 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $3,272 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $21 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $14 |
| Other loans to individuals | $7 |
| 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 | $200 |
| Non 1-4 family restructured loans & leases | $200 |
| Total loans and leases (foreign) | $0 |
Canton Co-operative Bank had $79,924,000 of loans outstanding in 2020. $77,210,000 of loans were in real estate loans. $12,756,000 of loans were in development loans. $4,038,000 of loans were in multifamily mortgage loans. $51,445,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $14,000 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 | 11 | $3,221 | $292,818 |
| Nonfarm, nonresidential loans - <$100k | 3 | $177 | $59,000 |
| Nonfarm, nonresidential loans - $100-250k | 4 | $719 | $179,750 |
| Nonfarm, nonresidential loans - $250k-1MM | 4 | $2,325 | $581,250 |
| Commercial & Industrial, US addressed loans - <$1MM | 64 | $3,086 | $48,219 |
| Commercial & Industrial, US addressed loans - <$100k | 57 | $1,319 | $23,140 |
| Commercial & Industrial, US addressed loans - $100-250k | 5 | $1,036 | $207,200 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 2 | $731 | $365,500 |