Martha's Vineyard Savings Bank Mortgage Rates, Fees & Info

Edgartown, MA

LEI: 54930021FWO6J6IYPZ85

Tax ID: 04-2188463

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    Martha's Vineyard Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Martha's Vineyard Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Vineyard Haven, Barnstable Town, Boston, and Poughkeepsie among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Martha's Vineyard Savings 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. Martha's Vineyard Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    204

    Origination Dollar Volume (All Markets)

    $116,910,000

    Employee count

    112

    Awards

    Martha's Vineyard Savings Bank 30 Year Conventional Loans gold Martha's Vineyard Savings Bank 30 Year Conventional Loans gold Martha's Vineyard Savings Bank 30 Year Conventional Loans silver
    Show all (3) awards

    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
    Vineyard Haven, MA (FHA|USDA|VA) 167 $104,195,000 $623,922 $3,769 4.45%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 35 $12,395,000 $354,143 $2,969 4.48%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $225,000 $225,000 $2,641 4.38%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $95,000 $95,000 $0 5.25%
    Martha's Vineyard Savings Bank's top markets include Vineyard Haven, Barnstable Town, Boston, and Poughkeepsie among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Martha's Vineyard Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Middlesex Savings Bank
    Similarity Rank: 45
    Cape Cod Co-operative Bank
    Similarity Rank: 108
    UniBank for Savings
    Similarity Rank: 156
    Martha's Vineyard Savings Bank
    Similarity Rank: 160
    The Cape Cod Five Cents Savings Bank
    Similarity Rank: 231
    Needham Bank
    Similarity Rank: 408
    Eastern Bank
    Similarity Rank: 510
    Rockland Trust Company
    Similarity Rank: 629
    Blue Hills Bank
    Similarity Rank: 630
    Farmington Bank
    Similarity Rank: 714

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 204 $116,910,000 $573,088 $3,614 4.46%

    For 2018, Martha's Vineyard Savings Bank's most frequently originated type of loan was Conventional, with 204 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 121 $85,615,000 $707,562 $4,553 4.48%
    Refi 59 $27,305,000 $462,797 $2,693 4.37%
    Home Improvement 13 $1,755,000 $135,000 $877 4.60%
    Other 11 $2,235,000 $203,182 $1,647 4.58%

    For 2018, Martha's Vineyard Savings Bank's most frequently cited loan purpose was Home Purchase, with 121 originations. The 2nd most popular reason was Refi, with 59 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 130 $64,420,000 $495,538 $3,922 4.41%
    15 Year 31 $5,555,000 $179,194 $1,217 4.38%
    30+ year 26 $34,980,000 $1,345,385 $5,217 4.55%
    Other 9 $6,405,000 $711,667 $838 4.89%
    10 Year 7 $5,535,000 $790,714 $11,561 4.90%
    5 Year 1 $15,000 $15,000 $0 4.75%

    For 2018, Martha's Vineyard Savings Bank's most frequently cited loan duration was 30 Year, with 130 originations. The 2nd most popular length was 15 Year, with 31 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 181 $99,085,000 $547,431
    $5k+ 1 $775,000 $775,000

    Martha's Vineyard Savings Bank's average total fees were $3,922, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 181 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 146 $78,680,000 $538,904
    3-4% 46 $34,570,000 $751,522
    5-6% 12 $3,660,000 $305,000

    During 2018, Martha's Vineyard Savings Bank's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 4-5%, with 146 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 63 $18,955,000 $300,873 $2,982 4.51%
    $400k-600k 55 $26,585,000 $483,364 $4,000 4.44%
    $600k-1MM 26 $19,720,000 $758,462 $5,463 4.34%
    $100,000 or less 21 $1,165,000 $55,476 $259 4.70%
    $1MM+ 20 $47,750,000 $2,387,500 $8,400 4.38%
    $100k-200k 19 $2,735,000 $143,947 $2,144 4.35%

    2018 saw Martha's Vineyard Savings Bank place emphasis on $200k-400k loans with 63 originations, totaling $18,955,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 53 $55,365,000 $1,044,623 $5,243 4.34%
    $150k-250k 39 $20,675,000 $530,128 $3,835 4.36%
    $100k-150k 31 $11,195,000 $361,129 $2,956 4.68%
    $75k-100k 30 $7,780,000 $259,333 $2,607 4.36%
    $50k-75k 23 $5,465,000 $237,609 $2,462 4.57%
    $50k or less 14 $3,900,000 $278,571 $2,623 4.49%

    Martha's Vineyard Savings Bank lent most frequently to those with incomes in the $250k+ range, with 53 originations. The second most popular income band? $150k-250k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 38 $14,380,000 $378,421 $3,140 4.29%
    30-36% 37 $21,625,000 $584,459 $3,844 4.46%
    42% 15 $19,345,000 $1,289,667 $5,215 4.47%
    <20% 12 $5,400,000 $450,000 $3,164 4.40%
    40% 10 $3,840,000 $384,000 $2,946 4.49%
    50-60% 8 $3,220,000 $402,500 $3,520 4.58%
    38% 8 $2,580,000 $322,500 $2,489 4.52%
    45% 8 $3,420,000 $427,500 $2,575 4.58%
    41% 7 $3,545,000 $506,429 $3,683 4.48%
    43% 6 $2,720,000 $453,333 $5,094 4.33%
    44% 6 $1,510,000 $251,667 $2,397 4.64%
    39% 6 $2,610,000 $435,000 $3,766 4.85%
    36% 5 $3,235,000 $647,000 $4,208 4.30%
    >60% 4 $3,860,000 $965,000 $6,377 4.50%
    46% 4 $1,200,000 $300,000 $3,097 4.06%
    47% 4 $5,610,000 $1,402,500 $3,405 4.25%
    49% 4 $2,170,000 $542,500 $3,407 4.38%
    37% 4 $940,000 $235,000 $2,879 4.50%
    48% 3 $885,000 $295,000 $3,159 4.54%

    Martha's Vineyard Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 38 originations. The next most common DTI ratio? 30-36%, with 37 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 146 $83,750,000 $573,630 $3,715 4.46%
    Not provided 31 $15,905,000 $513,065 $3,003 4.48%
    Not applicable 11 $10,105,000 $918,636 $0 4.82%
    Black 13 $6,285,000 $483,462 $4,094 4.18%
    Asian 2 $590,000 $295,000 $2,750 4.50%
    American Indian 1 $275,000 $275,000 $2,879 4.00%

    Approval Rates

    Total approvals of all applications
    91.83%

    Martha's Vineyard Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.29%

    Martha's Vineyard Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 204 $116,910,000 $573,088

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $3,475,000 $3,475,000
    Single Family (1-4 Units):Site-Built 203 $113,435,000 $558,793

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $3,730,000 $233,125 $2,299 4.49%
    40-60% 37 $20,525,000 $554,730 $3,758 4.28%
    60-80% 65 $39,925,000 $614,231 $4,194 4.42%
    80-100% 56 $34,570,000 $617,321 $4,302 4.59%
    Over 100% 2 $13,860,000 $6,930,000 $15,101 3.63%
    Under 20% 28 $4,300,000 $153,571 $659 4.59%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Mortgage Banking Associates Inc Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Martha's Vineyard Savings Bank 517 South Road Chilmark, MA 2535 Full Service B&M $35,936
    Martha's Vineyard Savings Bank 78 Main Street Edgartown, MA 2539 Full Service B&M $105,822
    Martha's Vineyard Savings Bank Unit #10, Vineyard Haven Road, Post Office Square Edgartown, MA 2539 Full Service B&M $34,552
    Martha's Vineyard Savings Bank 11 State Road Vineyard Haven, MA 2568 Full Service B&M $177,568
    Martha's Vineyard Savings Bank 14 Oak Bluffs Avenue Oak Bluffs, MA 2557 Full Service B&M $13,769
    Martha's Vineyard Savings Bank 2 Water Street Falmouth, MA 2543 Full Service B&M $24,186
    Martha's Vineyard Savings Bank 397 Palmer Avenue Falmouth, MA 2540 Full Service B&M $19,164
    Martha's Vineyard Savings Bank 4 Uncas Avenue Oak Bluffs, MA 2557 Full Service B&M $43,242
    Martha's Vineyard Savings Bank 490 State Road West Tisbury, MA 2575 Full Service B&M $134,384

    For 2018, Martha's Vineyard Savings Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $32,907
    Net interest income $28,389
    Total noninterest income $4,456
    Gross Fiduciary activities income $1,429
    Service charges on deposit accounts $547
    Trading account gains and fees $0
    Additional Noninterest Income $2,480
    Pre-tax net operating income $9,470
    Securities gains (or losses, -) $0
    Income before extraordinary items $6,968
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,968
    Minority interest net income $0
    Net income $6,968
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,968

    Martha's Vineyard Savings Bank's gross interest income from loans was $32,907,000.
    Martha's Vineyard Savings Bank's net interest income from loans was $28,389,000.
    Martha's Vineyard Savings Bank's fee based income from loans was $547,000.
    Martha's Vineyard Savings Bank's net income from loans was $6,968,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,518
    Provision for credit losses $193
    Total noninterest expense $23,182
    Salaries and employee benefits $12,052
    Premises and equipment expense $2,482
    Additional noninterest expense $8,648
    Applicable income taxes $2,502
    Net charge-offs $4
    Cash dividends $0

    Martha's Vineyard Savings Bank's interest expense for loans was $4,518,000.
    Martha's Vineyard Savings Bank's payroll and benefits expense were $12,052,000.
    Martha's Vineyard Savings Bank's property, plant and equipment expenses $2,482,000.

    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 $617,220
    Deposits held in domestic offices $617,220
    Deposits by Individuals, partnerships, and corporations $601,098
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $16,122
    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 $307,187
    Demand deposits $131,559
    Nontransaction accounts $310,033
    Money market deposit accounts (MMDAs) $106,453
    Other savings deposits (excluding MMDAs) $122,493
    Total time deposits $81,087
    Total time and savings deposits $485,661
    Noninterest-bearing deposits $131,559
    Interest-bearing deposits $485,661
    Retail deposits $575,877
    IRAs and Keogh plan accounts $15,886
    Brokered deposits $30,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $838,488
    Cash & Balances due from depository institutions $35,893
    Interest-bearing balances $26,590
    Total securities $60,302
    Federal funds sold & reverse repurchase $0
    Net loans and leases $707,540
    Loan and leases loss allowance $5,383
    Trading account assets $0
    Bank premises and fixed assets $14,838
    Other real estate owned $0
    Goodwill and other intangibles $1,970
    All other assets $17,945

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $838,488
    Total Liabilities $739,678
    Total deposits $617,220
    Interest-bearing deposits $485,661
    Deposits held in domestic offices $617,220
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $117,000
    Subordinated debt $0
    All other liabilities $5,458

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $707,540
    Loan and leases loss allowance $5,383
    Total loans and leases (domestic) $712,923
    All real estate loans $695,484
    Real estate loans in domestic offices $695,484
    Construction and development loans $60,655
    Residential 1-4 family construction $28,815
    Other construction, all land development and other land $31,840
    Loans secured by nonfarm nonresidential properties $219,069
    Nonfarm nonresidential secured by owner-occupied properties $64,523
    Commercial real estate & other non-farm, non-residential $154,546
    Multifamily residential real estate $2,616
    1-4 family residential loans $413,144
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $13,843
    To non-U.S. addressees $0
    Loans to individuals $2,312
    Credit card loans $0
    Related Plans $56
    Consumer Auto Loans $215
    Other loans to individuals $2,041
    All other loans & leases $1,284
    Loans to foreign governments and official institutions $0
    Other loans $335
    Loans to depository institutions and acceptances of other banks $949
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $261
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Martha's Vineyard Savings Bank had $707,540,000 of loans outstanding in 2018. $695,484,000 of loans were in real estate loans. $60,655,000 of loans were in development loans. $2,616,000 of loans were in multifamily mortgage loans. $413,144,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $215,000 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 140 $22,242 $158,871
    Nonfarm, nonresidential loans - <$100k 21 $393 $18,714
    Nonfarm, nonresidential loans - $100-250k 29 $1,622 $55,931
    Nonfarm, nonresidential loans - $250k-1MM 90 $20,227 $224,744
    Commercial & Industrial, US addressed loans - <$1MM 156 $7,718 $49,474
    Commercial & Industrial, US addressed loans - <$100k 96 $1,092 $11,375
    Commercial & Industrial, US addressed loans - $100-250k 32 $1,679 $52,469
    Commercial & Industrial, US addressed loans - $250k-1MM 28 $4,947 $176,679