Jewett City Savings Bank Mortgage Rates, Fees & Info

Griswold, CT

LEI: 54930015NKWX0FSGV150

Tax ID: 06-0405020

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Jewett City Savings Bank is a smaller bank specializing in Home Purchase loans. Jewett City Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Norwich, Hartford, New Haven, and Providence among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Jewett City Savings Bank has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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

    117

    Origination Dollar Volume (All Markets)

    $28,795,000

    Employee count

    70

    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
    WORCESTER, MA-CT (FHA|USDA|VA) 68 $21,660,000 $318,529 $0 0.00%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 33 $3,985,000 $120,758 $0 0.00%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 9 $1,685,000 $187,222 $0 0.00%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 2 $760,000 $380,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 5 $705,000 $141,000 $0 0.00%
    Jewett City Savings Bank's top markets include Worcester, Norwich, Hartford, New Haven, and Providence among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 117 $28,795,000 $246,111 $0 0.00%

    For 2018, Jewett City Savings Bank's most frequently originated type of loan was Conventional, with 117 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 32 $19,580,000 $611,875 $0 0.00%
    Refi 28 $3,870,000 $138,214 $0 0.00%
    Home Improvement 22 $1,580,000 $71,818 $0 0.00%
    Cash Out Refi 20 $2,800,000 $140,000 $0 0.00%
    Other 15 $965,000 $64,333 $0 0.00%

    For 2018, Jewett City Savings Bank's most frequently cited loan purpose was Home Purchase, with 32 originations. The 2nd most popular reason was Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 117 $28,795,000 $246,111 $0 0.00%

    For 2018, Jewett City Savings Bank's most frequently cited loan duration was Other, with 117 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 53 $2,735,000 $51,604 $0 0.00%
    $100k-200k 42 $6,260,000 $149,048 $0 0.00%
    $200k-400k 19 $4,655,000 $245,000 $0 0.00%
    $1MM+ 1 $14,005,000 $14,005,000 $0 0.00%
    $400k-600k 1 $505,000 $505,000 $0 0.00%
    $600k-1MM 1 $635,000 $635,000 $0 0.00%

    2018 saw Jewett City Savings Bank place emphasis on $100,000 or less loans with 53 originations, totaling $2,735,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 30 $4,690,000 $156,333 $0 0.00%
    $50k-75k 23 $2,185,000 $95,000 $0 0.00%
    $75k-100k 23 $2,655,000 $115,435 $0 0.00%
    $150k-250k 12 $1,740,000 $145,000 $0 0.00%
    $50k or less 12 $910,000 $75,833 $0 0.00%
    $250k+ 8 $890,000 $111,250 $0 0.00%

    Jewett City Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 30 originations. The second most popular income band? $50k-75k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 117 $28,795,000 $246,111 $0 0.00%

    Jewett City Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 117 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 7 $15,545,000 $2,220,714 $0 0.00%
    White 86 $10,580,000 $123,023 $0 0.00%
    Not provided 21 $2,125,000 $101,190 $0 0.00%
    Asian 2 $390,000 $195,000 $0 0.00%
    Japanese 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    66.67%

    Jewett City Savings Bank has a low approval rate. They may have poor market targeting or stringent lending standards.

    Pick Rate

    Approvals leading to origination
    82.05%

    Jewett City Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 117 $28,795,000 $246,111

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $14,005,000 $14,005,000
    Single Family (1-4 Units):Manufactured 2 $170,000 $85,000
    Single Family (1-4 Units):Site-Built 114 $14,620,000 $128,246

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Jewett City Savings Bank 48 Norwich Road Plainfield, CT 6374 Full Service B&M $51,286
    Jewett City Savings Bank 488 Providence Road Brooklyn, CT 6234 Full Service B&M $41,487
    Jewett City Savings Bank 560 Hartford Pike Dayville, CT 6241 Full Service B&M $15,326
    Jewett City Savings Bank 111 Main Street Jewett City, CT 6351 Full Service B&M $90,667
    Jewett City Savings Bank 353 Route 165 Preston, CT 6365 Full Service B&M $26,068

    For 2018, Jewett City Savings Bank had 5 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,979
    Net interest income $10,776
    Total noninterest income $1,838
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $620
    Trading account gains and fees $0
    Additional Noninterest Income $1,218
    Pre-tax net operating income $1,984
    Securities gains (or losses, -) $271
    Income before extraordinary items $1,816
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,816
    Minority interest net income $0
    Net income $1,816
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,596

    Jewett City Savings Bank's gross interest income from loans was $11,979,000.
    Jewett City Savings Bank's net interest income from loans was $10,776,000.
    Jewett City Savings Bank's fee based income from loans was $620,000.
    Jewett City Savings Bank's net income from loans was $1,816,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,203
    Provision for credit losses $1,300
    Total noninterest expense $9,330
    Salaries and employee benefits $5,350
    Premises and equipment expense $1,322
    Additional noninterest expense $2,658
    Applicable income taxes $439
    Net charge-offs $1,367
    Cash dividends $0

    Jewett City Savings Bank's interest expense for loans was $1,203,000.
    Jewett City Savings Bank's payroll and benefits expense were $5,350,000.
    Jewett City Savings Bank's property, plant and equipment expenses $1,322,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 1.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $218,530
    Deposits held in domestic offices $218,530
    Deposits by Individuals, partnerships, and corporations $206,304
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $11,973
    Deposits by Commercial banks and other depository institutions in U.S. $253
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $66,853
    Demand deposits $38,317
    Nontransaction accounts $151,677
    Money market deposit accounts (MMDAs) $62,485
    Other savings deposits (excluding MMDAs) $34,374
    Total time deposits $54,818
    Total time and savings deposits $180,213
    Noninterest-bearing deposits $38,318
    Interest-bearing deposits $180,213
    Retail deposits $212,282
    IRAs and Keogh plan accounts $17,015
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $283,803
    Cash & Balances due from depository institutions $15,547
    Interest-bearing balances $13,400
    Total securities $24,347
    Federal funds sold & reverse repurchase $0
    Net loans and leases $220,820
    Loan and leases loss allowance $1,927
    Trading account assets $0
    Bank premises and fixed assets $5,700
    Other real estate owned $228
    Goodwill and other intangibles $1,908
    All other assets $15,253

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $283,803
    Total Liabilities $236,917
    Total deposits $218,530
    Interest-bearing deposits $180,213
    Deposits held in domestic offices $218,530
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $17,287
    Subordinated debt $0
    All other liabilities $1,100

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $220,820
    Loan and leases loss allowance $1,927
    Total loans and leases (domestic) $222,747
    All real estate loans $186,139
    Real estate loans in domestic offices $186,139
    Construction and development loans $8,260
    Residential 1-4 family construction $1,621
    Other construction, all land development and other land $6,639
    Loans secured by nonfarm nonresidential properties $50,516
    Nonfarm nonresidential secured by owner-occupied properties $25,102
    Commercial real estate & other non-farm, non-residential $25,414
    Multifamily residential real estate $12,252
    1-4 family residential loans $114,996
    Farmland loans $115
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $25,864
    To non-U.S. addressees $0
    Loans to individuals $9,651
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $127
    Other loans to individuals $9,524
    All other loans & leases $1,093
    Loans to foreign governments and official institutions $0
    Other loans $88
    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 $418
    Non 1-4 family restructured loans & leases $194
    Total loans and leases (foreign) $0

    Jewett City Savings Bank had $220,820,000 of loans outstanding in 2018. $186,139,000 of loans were in real estate loans. $8,260,000 of loans were in development loans. $12,252,000 of loans were in multifamily mortgage loans. $114,996,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $127,000 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 115 $27,333 $237,678
    Nonfarm, nonresidential loans - <$100k 37 $1,769 $47,811
    Nonfarm, nonresidential loans - $100-250k 36 $5,914 $164,278
    Nonfarm, nonresidential loans - $250k-1MM 42 $19,650 $467,857
    Commercial & Industrial, US addressed loans - <$1MM 62 $11,443 $184,565
    Commercial & Industrial, US addressed loans - <$100k 38 $1,592 $41,895
    Commercial & Industrial, US addressed loans - $100-250k 10 $1,557 $155,700
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $8,294 $592,429
    Farmland loans - <$1MM 1 $115 $115,000
    Farmland loans - $100-250k 1 $115 $115,000