Eagle Bank Mortgage Rates, Fees & Info

Everett, MA

LEI: 5493000GDQJIBPCUBG13

Tax ID: 04-1295190

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Mortgage Data

Bank Data

Review & Overview

Eagle Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Eagle Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Providence, Worcester, and Manchester among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

Eagle 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

116

Origination Dollar Volume (All Markets)

$69,430,000

Employee count

73

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) 108 $64,230,000 $594,722 $0 0.00%
Outside of Metro Areas 2 $3,180,000 $1,590,000 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $680,000 $340,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
Laconia, NH (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Eagle Bank's top markets include Boston, Barnstable Town, Providence, Worcester, and Manchester among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 116 $69,430,000 $598,534 $0 0.00%

    For 2019, Eagle Bank's most frequently originated type of loan was Conventional, with 116 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 56 $30,180,000 $538,929 $0 0.00%
    Home Purchase 47 $33,385,000 $710,319 $0 0.00%
    Refi 10 $4,450,000 $445,000 $0 0.00%
    Home Improvement 2 $1,110,000 $555,000 $0 0.00%
    Other 1 $305,000 $305,000 $0 0.00%

    For 2019, Eagle Bank's most frequently cited loan purpose was Cash Out Refi, with 56 originations. The 2nd most popular reason was Home Purchase, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 116 $69,430,000 $598,534 $0 0.00%

    For 2019, Eagle Bank's most frequently cited loan duration was Other, with 116 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 36 $17,660,000 $490,556 $0 0.00%
    $200k-400k 26 $7,410,000 $285,000 $0 0.00%
    $600k-1MM 22 $16,660,000 $757,273 $0 0.00%
    $1MM+ 16 $25,420,000 $1,588,750 $0 0.00%
    $100k-200k 15 $2,195,000 $146,333 $0 0.00%
    $100,000 or less 1 $85,000 $85,000 $0 0.00%

    2019 saw Eagle Bank place emphasis on $400k-600k loans with 36 originations, totaling $17,660,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 18 $8,220,000 $456,667 $0 0.00%
    $250k+ 17 $17,225,000 $1,013,235 $0 0.00%
    $100k-150k 15 $5,765,000 $384,333 $0 0.00%
    $50k-75k 12 $3,330,000 $277,500 $0 0.00%
    $75k-100k 11 $3,785,000 $344,091 $0 0.00%
    $50k or less 6 $1,270,000 $211,667 $0 0.00%

    Eagle Bank lent most frequently to those with incomes in the $150k-250k range, with 18 originations. The second most popular income band? $250k+, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 116 $69,430,000 $598,534 $0 0.00%

    Eagle Bank lent most frequently to those with DTI ratios of Exempt%, with 116 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 72 $37,720,000 $523,889 $0 0.00%
    Not applicable 34 $28,200,000 $829,412 $0 0.00%
    Not provided 6 $1,730,000 $288,333 $0 0.00%
    Asian 1 $705,000 $705,000 $0 0.00%
    Vietnamese 1 $505,000 $505,000 $0 0.00%
    Black 1 $395,000 $395,000 $0 0.00%
    Other Asian 1 $175,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.60%

    Eagle Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.83%

    Eagle Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 116 $69,430,000 $598,534

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $6,665,000 $740,556
    Single Family (1-4 Units):Site-Built 107 $62,765,000 $586,589

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Eagle Bank 1768 Massachusetts Avenue Lexington, MA 2420 Full Service B&M $77,944
    Eagle Bank 299 Ferry Street Everett, MA 2149 Full Service B&M $101,548
    Eagle Bank 350 Broadway Everett, MA 2149 Full Service B&M $179,911
    Eagle Bank 389 Hanover Street Boston, MA 2113 Full Service B&M $34,821

    For 2019, Eagle Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,049
    Net interest income $14,295
    Total noninterest income $1,721
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $521
    Trading account gains and fees $0
    Additional Noninterest Income $1,200
    Pre-tax net operating income $2,538
    Securities gains (or losses, -) $1,593
    Income before extraordinary items $3,424
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,424
    Minority interest net income $0
    Net income $3,424
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,101

    Eagle Bank's gross interest income from loans was $18,049,000.
    Eagle Bank's net interest income from loans was $14,295,000.
    Eagle Bank's fee based income from loans was $521,000.
    Eagle Bank's net income from loans was $3,424,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,754
    Provision for credit losses $0
    Total noninterest expense $13,478
    Salaries and employee benefits $8,451
    Premises and equipment expense $1,360
    Additional noninterest expense $3,667
    Applicable income taxes $707
    Net charge-offs $-12
    Cash dividends $0

    Eagle Bank's interest expense for loans was $3,754,000.
    Eagle Bank's payroll and benefits expense were $8,451,000.
    Eagle Bank's property, plant and equipment expenses $1,360,000.

    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 1.0%
    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 $395,446
    Deposits held in domestic offices $395,446
    Deposits by Individuals, partnerships, and corporations $386,591
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $8,696
    Deposits by Commercial banks and other depository institutions in U.S. $159
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $82,755
    Demand deposits $65,727
    Nontransaction accounts $312,691
    Money market deposit accounts (MMDAs) $81,924
    Other savings deposits (excluding MMDAs) $95,608
    Total time deposits $135,158
    Total time and savings deposits $329,719
    Noninterest-bearing deposits $65,727
    Interest-bearing deposits $329,719
    Retail deposits $350,402
    IRAs and Keogh plan accounts $25,923
    Brokered deposits $2,907
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $460,438
    Cash & Balances due from depository institutions $8,550
    Interest-bearing balances $6,662
    Total securities $74,795
    Federal funds sold & reverse repurchase $0
    Net loans and leases $345,874
    Loan and leases loss allowance $3,932
    Trading account assets $0
    Bank premises and fixed assets $4,645
    Other real estate owned $0
    Goodwill and other intangibles $146
    All other assets $26,428

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $460,438
    Total Liabilities $406,401
    Total deposits $395,446
    Interest-bearing deposits $329,719
    Deposits held in domestic offices $395,446
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,000
    Subordinated debt $0
    All other liabilities $6,955

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $345,874
    Loan and leases loss allowance $3,932
    Total loans and leases (domestic) $349,806
    All real estate loans $300,979
    Real estate loans in domestic offices $300,979
    Construction and development loans $44,164
    Residential 1-4 family construction $36,705
    Other construction, all land development and other land $7,459
    Loans secured by nonfarm nonresidential properties $88,470
    Nonfarm nonresidential secured by owner-occupied properties $24,205
    Commercial real estate & other non-farm, non-residential $64,265
    Multifamily residential real estate $25,770
    1-4 family residential loans $142,575
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $48,664
    To non-U.S. addressees $0
    Loans to individuals $146
    Credit card loans $0
    Related Plans $28
    Consumer Auto Loans $0
    Other loans to individuals $118
    All other loans & leases $17
    Loans to foreign governments and official institutions $0
    Other loans $17
    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

    Eagle Bank had $345,874,000 of loans outstanding in 2019. $300,979,000 of loans were in real estate loans. $44,164,000 of loans were in development loans. $25,770,000 of loans were in multifamily mortgage loans. $142,575,000 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 79 $27,275 $345,253
    Nonfarm, nonresidential loans - <$100k 3 $199 $66,333
    Nonfarm, nonresidential loans - $100-250k 19 $2,360 $124,211
    Nonfarm, nonresidential loans - $250k-1MM 57 $24,716 $433,614
    Commercial & Industrial, US addressed loans - <$1MM 42 $11,457 $272,786
    Commercial & Industrial, US addressed loans - <$100k 15 $524 $34,933
    Commercial & Industrial, US addressed loans - $100-250k 4 $500 $125,000
    Commercial & Industrial, US addressed loans - $250k-1MM 23 $10,433 $453,609