Walpole Co-operative Bank Mortgage Rates, Fees & Info
Walpole, MALEI: 5493003ZQY78H3VXMF14
Tax ID: 04-1943030
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Mortgage Data
Bank Data
Review & Overview
Walpole Co-operative Bank is a smaller bank specializing in Refi and Home Purchase loans. Walpole Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Barnstable Town, and Worcester among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Walpole Co-operative 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.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.27% | 12/16/24 |
| 30 Year Conventional Refi | 6.91% | 12/16/24 |
| 30 Year Cash-out Refi | 6.23% | 12/16/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Walpole Co-operative Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
125Origination Dollar Volume (All Markets)
$97,365,000Employee count
40Top 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) | 104 | $90,600,000 | $871,154 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 11 | $3,865,000 | $351,364 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 6 | $1,890,000 | $315,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 4 | $1,010,000 | $252,500 | $0 | 0.00% |
Their top states include:
Similar Lenders
We use machine learning to identify the top lenders compared against Walpole Co-operative Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 125 | $97,365,000 | $778,920 | $0 | 0.00% |
For 2020, Walpole Co-operative Bank's most frequently originated type of loan was Conventional, with 125 originations.
Loan Reason
For 2020, Walpole Co-operative Bank's most frequently cited loan purpose was Refi, with 55 originations. The 2nd most popular reason was Home Purchase, with 44 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 125 | $97,365,000 | $778,920 | $0 | 0.00% |
For 2020, Walpole Co-operative Bank's most frequently cited loan duration was Other, with 125 originations.
Loan Sizing
2020 saw Walpole Co-operative Bank place emphasis on $200k-400k loans with 54 originations, totaling $16,630,000 in origination value.
Applicant Income
Walpole Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $150k-250k, with 20 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 125 | $97,365,000 | $778,920 | $0 | 0.00% |
Walpole Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 125 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.22%
Walpole Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination85.60%
Walpole Co-operative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 125 | $97,365,000 | $778,920 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 14 | $33,970,000 | $2,426,429 |
| Single Family (1-4 Units):Site-Built | 111 | $63,395,000 | $571,126 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Walpole Co-Operative Bank | 982 Main Street Walpole, MA 2081 | Full Service B&M | $421,160 |
For 2020, Walpole Co-operative Bank had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $22,566 |
| Net interest income | $17,328 |
| Total noninterest income | $482 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $38 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $444 |
| Pre-tax net operating income | $6,113 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,379 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,379 |
| Minority interest net income | $0 |
| Net income | $4,379 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,379 |
Walpole Co-operative Bank's gross interest income from loans was $22,566,000.
Walpole Co-operative Bank's net interest income from loans was $17,328,000.
Walpole Co-operative Bank's fee based income from loans was $38,000.
Walpole Co-operative Bank's net income from loans was $4,379,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $5,238 |
| Provision for credit losses | $295 |
| Total noninterest expense | $11,402 |
| Salaries and employee benefits | $6,670 |
| Premises and equipment expense | $1,415 |
| Additional noninterest expense | $3,317 |
| Applicable income taxes | $1,734 |
| Net charge-offs | $-110 |
| Cash dividends | $0 |
Walpole Co-operative Bank's interest expense for loans was $5,238,000.
Walpole Co-operative Bank's payroll and benefits expense were $6,670,000.
Walpole Co-operative Bank's property, plant and equipment expenses $1,415,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 1.0% |
| Nonfarm, nonresidential loans | 1.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 4.0% |
| 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 | $425,951 |
| Deposits held in domestic offices | $425,951 |
| Deposits by Individuals, partnerships, and corporations | $425,951 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $0 |
| 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 | $118,373 |
| Demand deposits | $39,546 |
| Nontransaction accounts | $307,578 |
| Money market deposit accounts (MMDAs) | $45,574 |
| Other savings deposits (excluding MMDAs) | $51,512 |
| Total time deposits | $210,492 |
| Total time and savings deposits | $386,405 |
| Noninterest-bearing deposits | $30,869 |
| Interest-bearing deposits | $395,082 |
| Retail deposits | $352,005 |
| IRAs and Keogh plan accounts | $30,192 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $555,316 |
| Cash & Balances due from depository institutions | $18,023 |
| Interest-bearing balances | $11,863 |
| Total securities | $57,561 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $465,996 |
| Loan and leases loss allowance | $6,488 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,134 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $7,602 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $555,315 |
| Total Liabilities | $455,080 |
| Total deposits | $425,951 |
| Interest-bearing deposits | $395,082 |
| Deposits held in domestic offices | $425,951 |
| % insured (estimated) | $81 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $26,710 |
| Subordinated debt | $0 |
| All other liabilities | $2,419 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $465,996 |
| Loan and leases loss allowance | $6,488 |
| Total loans and leases (domestic) | $472,484 |
| All real estate loans | $449,340 |
| Real estate loans in domestic offices | $449,340 |
| Construction and development loans | $77,373 |
| Residential 1-4 family construction | $76,567 |
| Other construction, all land development and other land | $806 |
| Loans secured by nonfarm nonresidential properties | $179,107 |
| Nonfarm nonresidential secured by owner-occupied properties | $55,273 |
| Commercial real estate & other non-farm, non-residential | $123,834 |
| Multifamily residential real estate | $58,493 |
| 1-4 family residential loans | $134,367 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $23,528 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $0 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $0 |
| All other loans & leases | $5 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $5 |
| 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 | $96 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Walpole Co-operative Bank had $465,996,000 of loans outstanding in 2020. $449,340,000 of loans were in real estate loans. $77,373,000 of loans were in development loans. $58,493,000 of loans were in multifamily mortgage loans. $134,367,000 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 | 148 | $43,893 | $296,574 |
| Nonfarm, nonresidential loans - <$100k | 16 | $854 | $53,375 |
| Nonfarm, nonresidential loans - $100-250k | 33 | $4,010 | $121,515 |
| Nonfarm, nonresidential loans - $250k-1MM | 99 | $39,029 | $394,232 |
| Commercial & Industrial, US addressed loans - <$1MM | 234 | $21,242 | $90,778 |
| Commercial & Industrial, US addressed loans - <$100k | 148 | $5,350 | $36,149 |
| Commercial & Industrial, US addressed loans - $100-250k | 47 | $4,811 | $102,362 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 39 | $11,081 | $284,128 |