Kennebunk Savings Bank Mortgage Rates, Fees & Info

Kennebunk, ME

LEI: 5493003V0VOGJ2CI8520

Tax ID: 01-0100600

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Kennebunk Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Kennebunk Savings Bank has a high proportion of conventional loans. Their top markets include Portland, Boston, Concord, Manchester, and Laconia among others. Kennebunk Savings Bank has an 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

470

Origination Dollar Volume (All Markets)

$237,520,000

Employee count

324

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 377 $138,255,000 $366,724 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 80 $74,340,000 $929,250 $0 0.00%
Concord, NH (FHA|USDA|VA) 5 $22,225,000 $4,445,000 $0 0.00%
Outside of Metro Areas 4 $1,040,000 $260,000 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 1 $735,000 $735,000 $0 0.00%
Laconia, NH (FHA|USDA|VA) 2 $610,000 $305,000 $0 0.00%
Lebanon, NH-VT (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%

Kennebunk Savings Bank's top markets include Portland, Boston, Concord, Manchester, and Laconia among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 470 $237,520,000 $505,362 $0 0.00%

For the 2021 period, Kennebunk Savings Bank's most frequently originated loan type of loans were Conventional, with 470 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 175 $90,565,000 $517,514 $0 0.00%
Home Purchase 162 $120,870,000 $746,111 $0 0.00%
Cash Out Refi 75 $19,265,000 $256,867 $0 0.00%
Home Improvement 45 $5,955,000 $132,333 $0 0.00%
Other 13 $865,000 $66,538 $0 0.00%

For the 2021, Kennebunk Savings Bank's most frequently cited loan purpose of loans were Refi, with 175 originations. The 2nd most popular reason of loans were Home Purchase, with 162 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 470 $237,520,000 $505,362 $0 0.00%

For the 2021, Kennebunk Savings Bank's most frequently cited loan length of loans were Other, with 470 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 198 $56,910,000 $287,424 $0 0.00%
$100k-200k 87 $13,095,000 $150,517 $0 0.00%
$100,000 or less 60 $3,270,000 $54,500 $0 0.00%
$400k-600k 48 $22,990,000 $478,958 $0 0.00%
$600k-1MM 39 $28,775,000 $737,821 $0 0.00%
$1MM+ 38 $112,480,000 $2,960,000 $0 0.00%

2021 saw Kennebunk Savings Bank place emphasis on $200k-400k loans with 198 originations, totaling $56,910,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 87 $28,005,000 $321,897 $0 0.00%
$100k-150k 84 $22,230,000 $264,643 $0 0.00%
$250k+ 70 $48,810,000 $697,286 $0 0.00%
$75k-100k 67 $14,175,000 $211,567 $0 0.00%
$50k-75k 60 $10,590,000 $176,500 $0 0.00%
$50k or less 22 $2,530,000 $115,000 $0 0.00%

Kennebunk Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 87 originations. The second most popular income band? $100k-150k, with 84 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 470 $237,520,000 $505,362 $0 0.00%

Kennebunk Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 470 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 80 $111,180,000 $1,389,750 $0 0.00%
White 321 $104,685,000 $326,121 $0 0.00%
Not provided 61 $19,405,000 $318,115 $0 0.00%
Black 4 $1,180,000 $295,000 $0 0.00%
Asian 3 $755,000 $251,667 $0 0.00%
American Indian 1 $315,000 $315,000 $0 0.00%

Approval Rates

Total approvals of all applications
81.04%

Kennebunk Savings Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
70.39%

Kennebunk Savings Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 470 $237,520,000 $505,362

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
470 $237,520,000 $505,362

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Kennebunk Savings Bank 50 Portland Road Kennebunk, ME 4043 Full Service B&M $160,168
Kennebunk Savings Bank 10 Western Avenue Kennebunk, ME 4043 Full Service B&M $83,022
Kennebunk Savings Bank 104 Main St Kennebunk, ME 4043 Full Service B&M $186,850
Kennebunk Savings Bank 111 Maplewood Avenue Portsmouth, NH 3801 Full Service B&M $75,513
Kennebunk Savings Bank 141 Main Street Newmarket, NH 3857 Full Service B&M $41,464
Kennebunk Savings Bank 16 Woodbridge Road York, ME 3909 Full Service B&M $137,882
Kennebunk Savings Bank 2 Hannaford Drive York, ME 3909 Full Service B&M $145,775
Kennebunk Savings Bank 2 School Street Berwick, ME 3901 Full Service B&M $47,675
Kennebunk Savings Bank 24 Winnacunnet Road Hampton, NH 3842 Full Service B&M $26,289
Kennebunk Savings Bank 25 South Main Street Ogunquit, ME 3907 Full Service B&M $99,097
Kennebunk Savings Bank 3 Pleasant Street, Suite 200 Portsmouth, NH 3801 Full Service B&M $493
Kennebunk Savings Bank 4 Shapleigh Road Kittery, ME 3904 Full Service B&M $86,634
Kennebunk Savings Bank 470 Main Street Sanford, ME 4073 Full Service B&M $100,226
Kennebunk Savings Bank 701 Central Avenue Dover, NH 3820 Full Service B&M $43,314
Kennebunk Savings Bank 9 Portsmouth Avenue Stratham, NH 3885 Full Service B&M $23,638
Kennebunk Savings Bank Eliot Commons Professional Park, Route 236 Eliot, ME 3903 Full Service B&M $110,499
Kennebunk Savings Bank Route 109, Sanford Road Wells, ME 4090 Full Service B&M $113,012
Kennebunk Savings Bank Wells And Main Street North Berwick, ME 3906 Full Service B&M $73,854

For 2021, Kennebunk Savings Bank had 18 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $55,268
Net interest income $53,978
Total noninterest income $11,452
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,149
Trading account gains and fees $0
Additional Noninterest Income $10,303
Pre-tax net operating income $23,164
Securities gains (or losses, -) $-176
Income before extraordinary items $18,230
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $18,230
Minority interest net income $0
Net income $18,230
Sale, conversion, retirement of capital stock, net $0
Net operating income $18,369

Kennebunk Savings Bank's gross interest income from loans was $55,268,000.
Kennebunk Savings Bank's net interest income from loans was $53,978,000.
Kennebunk Savings Bank's fee based income from loans was $1,149,000.
Kennebunk Savings Bank's net income from loans was $18,230,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,290
Provision for credit losses $-5,000
Total noninterest expense $47,266
Salaries and employee benefits $27,617
Premises and equipment expense $6,596
Additional noninterest expense $13,053
Applicable income taxes $4,758
Net charge-offs $312
Cash dividends $0

Kennebunk Savings Bank's interest expense for loans was $1,290,000.
Kennebunk Savings Bank's payroll and benefits expense were $27,617,000.
Kennebunk Savings Bank's property, plant and equipment expenses $6,596,000.

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 $1,651,702
Deposits held in domestic offices $1,651,702
Deposits by Individuals, partnerships, and corporations $1,600,421
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $51,281
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 $260,758
Demand deposits $223,683
Nontransaction accounts $1,390,944
Money market deposit accounts (MMDAs) $69,347
Other savings deposits (excluding MMDAs) $1,275,933
Total time deposits $45,664
Total time and savings deposits $1,428,019
Noninterest-bearing deposits $720,794
Interest-bearing deposits $930,908
Retail deposits $1,645,944
IRAs and Keogh plan accounts $27,572
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,822,146
Cash & Balances due from depository institutions $120,196
Interest-bearing balances $108,429
Total securities $431,372
Federal funds sold & reverse repurchase $0
Net loans and leases $1,176,405
Loan and leases loss allowance $14,896
Trading account assets $0
Bank premises and fixed assets $32,897
Other real estate owned $0
Goodwill and other intangibles $1,885
All other assets $59,391

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,822,146
Total Liabilities $1,659,523
Total deposits $1,651,702
Interest-bearing deposits $930,908
Deposits held in domestic offices $1,651,702
% insured (estimated) $74
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $71
Subordinated debt $0
All other liabilities $7,750

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,176,405
Loan and leases loss allowance $14,896
Total loans and leases (domestic) $1,191,301
All real estate loans $1,116,349
Real estate loans in domestic offices $1,116,349
Construction and development loans $115,903
Residential 1-4 family construction $18,363
Other construction, all land development and other land $97,540
Loans secured by nonfarm nonresidential properties $556,782
Nonfarm nonresidential secured by owner-occupied properties $170,884
Commercial real estate & other non-farm, non-residential $385,898
Multifamily residential real estate $61,578
1-4 family residential loans $382,066
Farmland loans $20
Loans held in foreign offices $0
Farm loans $141
Commercial and industrial loans $67,243
To non-U.S. addressees $0
Loans to individuals $850
Credit card loans $0
Related Plans $41
Consumer Auto Loans $72
Other loans to individuals $737
All other loans & leases $6,718
Loans to foreign governments and official institutions $0
Other loans $3,232
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 $3,586
Non 1-4 family restructured loans & leases $3,444
Total loans and leases (foreign) $0

Kennebunk Savings Bank had $1,176,405,000 of loans outstanding in 2021. $1,116,349,000 of loans were in real estate loans. $115,903,000 of loans were in development loans. $61,578,000 of loans were in multifamily mortgage loans. $382,066,000 of loans were in 1-4 family mortgage loans. $141,000 of loans were in farm loans. $0 of loans were in credit card loans. $72,000 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 559 $146,038 $261,249
Nonfarm, nonresidential loans - <$100k 78 $3,138 $40,231
Nonfarm, nonresidential loans - $100-250k 194 $23,302 $120,113
Nonfarm, nonresidential loans - $250k-1MM 287 $119,598 $416,718
Commercial & Industrial, US addressed loans - <$1MM 1,149 $59,063 $51,404
Commercial & Industrial, US addressed loans - <$100k 917 $12,635 $13,779
Commercial & Industrial, US addressed loans - $100-250k 133 $15,945 $119,887
Commercial & Industrial, US addressed loans - $250k-1MM 99 $30,483 $307,909
Farmland loans - <$1MM 1 $20 $20,000
Farmland loans - <$100k 1 $20 $20,000
Agriculture operations loans - <$1MM 9 $141 $15,667
Agriculture operations loans - <$100k 9 $141 $15,667