Stafford Savings Bank Mortgage Rates, Fees & Info
Stafford Springs, CTLEI: 254900QHRM7S805P5E69
Tax ID: 06-0546360
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Mortgage Data
Bank Data
Review & Overview
Stafford Savings Bank is a smaller bank specializing in various types of mortgages.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
0Origination Dollar Volume (All Markets)
$0Employee count
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Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Stafford Savings Bank | 2 Furnace Ave Stafford Springs, CT 6076 | Full Service B&M | $80,105 |
| Stafford Savings Bank | 74 West Stafford Road Stafford Springs, CT 6076 | Full Service B&M | $49,165 |
| Stafford Savings Bank | 85 West Stafford Road Stafford Springs, CT 6076 | Full Service B&M | $59,995 |
For 2021, Stafford Savings Bank had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $6,816 |
| Net interest income | $6,249 |
| Total noninterest income | $640 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $159 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $481 |
| Pre-tax net operating income | $1,272 |
| Securities gains (or losses, -) | $35,628 |
| Income before extraordinary items | $27,384 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $27,384 |
| Minority interest net income | $0 |
| Net income | $27,384 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $-762 |
Stafford Savings Bank's gross interest income from loans was $6,816,000.
Stafford Savings Bank's net interest income from loans was $6,249,000.
Stafford Savings Bank's fee based income from loans was $159,000.
Stafford Savings Bank's net income from loans was $27,384,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $567 |
| Provision for credit losses | $0 |
| Total noninterest expense | $5,617 |
| Salaries and employee benefits | $3,673 |
| Premises and equipment expense | $740 |
| Additional noninterest expense | $1,204 |
| Applicable income taxes | $9,516 |
| Net charge-offs | $0 |
| Cash dividends | $0 |
Stafford Savings Bank's interest expense for loans was $567,000.
Stafford Savings Bank's payroll and benefits expense were $3,673,000.
Stafford Savings Bank's property, plant and equipment expenses $740,000.
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 | $197,459 |
| Deposits held in domestic offices | $197,459 |
| Deposits by Individuals, partnerships, and corporations | $191,368 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $6,090 |
| 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 | $56,477 |
| Demand deposits | $11,706 |
| Nontransaction accounts | $140,981 |
| Money market deposit accounts (MMDAs) | $54,242 |
| Other savings deposits (excluding MMDAs) | $44,387 |
| Total time deposits | $42,352 |
| Total time and savings deposits | $185,752 |
| Noninterest-bearing deposits | $11,686 |
| Interest-bearing deposits | $185,773 |
| Retail deposits | $194,986 |
| IRAs and Keogh plan accounts | $15,687 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $402,842 |
| Cash & Balances due from depository institutions | $112,638 |
| Interest-bearing balances | $110,365 |
| Total securities | $217,554 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $65,738 |
| Loan and leases loss allowance | $1,258 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $1,214 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $5,698 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $402,842 |
| Total Liabilities | $236,694 |
| Total deposits | $197,459 |
| Interest-bearing deposits | $185,773 |
| Deposits held in domestic offices | $197,459 |
| % insured (estimated) | $94 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $39,235 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $65,738 |
| Loan and leases loss allowance | $1,258 |
| Total loans and leases (domestic) | $66,996 |
| All real estate loans | $66,050 |
| Real estate loans in domestic offices | $66,050 |
| Construction and development loans | $2,184 |
| Residential 1-4 family construction | $2,013 |
| Other construction, all land development and other land | $171 |
| Loans secured by nonfarm nonresidential properties | $427 |
| Nonfarm nonresidential secured by owner-occupied properties | $427 |
| Commercial real estate & other non-farm, non-residential | $0 |
| Multifamily residential real estate | $0 |
| 1-4 family residential loans | $63,439 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $0 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,055 |
| Credit card loans | $0 |
| Related Plans | $8 |
| Consumer Auto Loans | $292 |
| Other loans to individuals | $755 |
| 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 | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Stafford Savings Bank had $65,738,000 of loans outstanding in 2021. $66,050,000 of loans were in real estate loans. $2,184,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $63,439,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $292,000 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 | 4 | $225 | $56,250 |
| Nonfarm, nonresidential loans - <$100k | 1 | $65 | $65,000 |
| Nonfarm, nonresidential loans - $100-250k | 3 | $160 | $53,333 |