Winter Hill Bank Fsb Mortgage Rates, Fees & Info

Somerville, MA

LEI: 254900YEG6LSF1BFA422

Tax ID: 04-1980523

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Winter Hill Bank Fsb is a smaller bank specializing in Cash Out Refi, Refi, and Home Purchase loans. Winter Hill Bank Fsb has a high proportion of conventional loans. Their top markets include Boston, Barnstable Town, Worcester, Providence, and Lebanon among others. Winter Hill Bank Fsb has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

213

Origination Dollar Volume (All Markets)

$111,135,000

Employee count

59

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 199 $106,585,000 $535,603 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 6 $2,380,000 $396,667 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 3 $825,000 $275,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $570,000 $285,000 $0 0.00%
Lebanon, NH-VT (FHA|USDA|VA) 2 $550,000 $275,000 $0 0.00%
Vineyard Haven, MA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%

Winter Hill Bank Fsb's top markets include Boston, Barnstable Town, Worcester, Providence, and Lebanon among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 213 $111,135,000 $521,761 $0 0.00%

For the 2021 period, Winter Hill Bank Fsb's most frequently originated loan type of loans were Conventional, with 213 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 91 $48,965,000 $538,077 $0 0.00%
Refi 72 $27,570,000 $382,917 $0 0.00%
Home Purchase 46 $32,980,000 $716,957 $0 0.00%
Home Improvement 2 $1,250,000 $625,000 $0 0.00%
Other 2 $370,000 $185,000 $0 0.00%

For the 2021, Winter Hill Bank Fsb's most frequently cited loan purpose of loans were Cash Out Refi, with 91 originations. The 2nd most popular reason of loans were Refi, with 72 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 213 $111,135,000 $521,761 $0 0.00%

For the 2021, Winter Hill Bank Fsb's most frequently cited loan length of loans were Other, with 213 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 68 $20,690,000 $304,265 $0 0.00%
$400k-600k 67 $32,725,000 $488,433 $0 0.00%
$600k-1MM 34 $25,750,000 $757,353 $0 0.00%
$100k-200k 21 $3,185,000 $151,667 $0 0.00%
$1MM+ 20 $28,500,000 $1,425,000 $0 0.00%
$100,000 or less 3 $285,000 $95,000 $0 0.00%

2021 saw Winter Hill Bank Fsb place emphasis on $200k-400k loans with 68 originations, totaling $20,690,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 69 $30,625,000 $443,841 $0 0.00%
$250k+ 33 $21,775,000 $659,848 $0 0.00%
$100k-150k 32 $11,830,000 $369,688 $0 0.00%
$75k-100k 21 $7,265,000 $345,952 $0 0.00%
$50k-75k 17 $5,555,000 $326,765 $0 0.00%
$50k or less 5 $1,205,000 $241,000 $0 0.00%

Winter Hill Bank Fsb lent most frequently to those with incomes in the $150k-250k range, with 69 originations. The second most popular income band? $250k+, with 33 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 213 $111,135,000 $521,761 $0 0.00%

Winter Hill Bank Fsb lent most frequently to those with DTI ratios of Exempt%, with 213 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 164 $73,010,000 $445,183 $0 0.00%
Not applicable 33 $30,395,000 $921,061 $0 0.00%
Black 7 $3,835,000 $547,857 $0 0.00%
Asian 6 $1,950,000 $325,000 $0 0.00%
Not provided 2 $1,590,000 $795,000 $0 0.00%
American Indian 1 $355,000 $355,000 $0 0.00%

Approval Rates

Total approvals of all applications
92.94%

Winter Hill Bank Fsb has an average approval rate.

Pick Rate

Approvals leading to origination
86.65%

Winter Hill Bank Fsb has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 213 $111,135,000 $521,761

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
213 $111,135,000 $521,761

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Winter Hill Bank, FSB 271 Main Street North Reading, MA 1864 Full Service B&M $66,245
Winter Hill Bank, FSB 342 Broadway Somerville, MA 2145 Full Service B&M $174,928
Winter Hill Bank, FSB 5 Cutter Avenue Somerville, MA 2144 Full Service B&M $53,369

For 2021, Winter Hill Bank Fsb had 3 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $11,860
Net interest income $10,597
Total noninterest income $1,815
Gross Fiduciary activities income $0
Service charges on deposit accounts $344
Trading account gains and fees $0
Additional Noninterest Income $1,471
Pre-tax net operating income $2,374
Securities gains (or losses, -) $0
Income before extraordinary items $1,861
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $1,861
Minority interest net income $0
Net income $1,861
Sale, conversion, retirement of capital stock, net $0
Net operating income $1,861

Winter Hill Bank Fsb's gross interest income from loans was $11,860,000.
Winter Hill Bank Fsb's net interest income from loans was $10,597,000.
Winter Hill Bank Fsb's fee based income from loans was $344,000.
Winter Hill Bank Fsb's net income from loans was $1,861,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,263
Provision for credit losses $0
Total noninterest expense $10,038
Salaries and employee benefits $6,673
Premises and equipment expense $1,342
Additional noninterest expense $2,023
Applicable income taxes $513
Net charge-offs $1
Cash dividends $0

Winter Hill Bank Fsb's interest expense for loans was $1,263,000.
Winter Hill Bank Fsb's payroll and benefits expense were $6,673,000.
Winter Hill Bank Fsb's property, plant and equipment expenses $1,342,000.

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 $311,738
Deposits held in domestic offices $311,738
Deposits by Individuals, partnerships, and corporations $297,550
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $14,188
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 $121,984
Demand deposits $48,985
Nontransaction accounts $189,754
Money market deposit accounts (MMDAs) $56,227
Other savings deposits (excluding MMDAs) $52,779
Total time deposits $80,749
Total time and savings deposits $262,753
Noninterest-bearing deposits $47,423
Interest-bearing deposits $264,315
Retail deposits $293,343
IRAs and Keogh plan accounts $10,569
Brokered deposits $8,056
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $363,421
Cash & Balances due from depository institutions $38,344
Interest-bearing balances $34,603
Total securities $66,974
Federal funds sold & reverse repurchase $0
Net loans and leases $249,266
Loan and leases loss allowance $3,145
Trading account assets $0
Bank premises and fixed assets $4,957
Other real estate owned $0
Goodwill and other intangibles $540
All other assets $3,340

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $363,421
Total Liabilities $325,188
Total deposits $311,738
Interest-bearing deposits $264,315
Deposits held in domestic offices $311,738
% insured (estimated) $86
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $11,000
Subordinated debt $0
All other liabilities $2,450

Issued Loan Types

Type Value (in 000's)
Net loans and leases $249,266
Loan and leases loss allowance $3,145
Total loans and leases (domestic) $252,411
All real estate loans $250,725
Real estate loans in domestic offices $250,725
Construction and development loans $36,809
Residential 1-4 family construction $27,839
Other construction, all land development and other land $8,970
Loans secured by nonfarm nonresidential properties $23,496
Nonfarm nonresidential secured by owner-occupied properties $7,633
Commercial real estate & other non-farm, non-residential $15,863
Multifamily residential real estate $50,945
1-4 family residential loans $139,475
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 $1,686
Credit card loans $0
Related Plans $6
Consumer Auto Loans $0
Other loans to individuals $1,680
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 $356
Non 1-4 family restructured loans & leases $356
Total loans and leases (foreign) $0

Winter Hill Bank FSB had $249,266,000 of loans outstanding in 2021. $250,725,000 of loans were in real estate loans. $36,809,000 of loans were in development loans. $50,945,000 of loans were in multifamily mortgage loans. $139,475,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 16 $4,848 $303,000
Nonfarm, nonresidential loans - <$100k 2 $122 $61,000
Nonfarm, nonresidential loans - $100-250k 6 $805 $134,167
Nonfarm, nonresidential loans - $250k-1MM 8 $3,921 $490,125