Rollstone Bank & Trust Mortgage Rates, Fees & Info

Fitchburg, MA

LEI: 54930040WE4NGYGGO143

Tax ID: 04-1328870

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

Review & Overview

Rollstone Bank & Trust is a smaller bank specializing in Refi and Home Purchase loans. Rollstone Bank & Trust has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Barnstable Town, Portland, and Providence among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Rollstone Bank & Trust has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

305

Origination Dollar Volume (All Markets)

$83,455,000

Employee count

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)	230	$58,610,000	$254,826	$0	0.00%
Boston-Cambridge-Newton, MA-NH (FHA\|USDA\|VA)	53	$17,595,000	$331,981	$0	0.00%
BARNSTABLE TOWN, MA (FHA\|USDA\|VA)	5	$2,605,000	$521,000	$0	0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA\|USDA\|VA)	3	$1,105,000	$368,333	$0	0.00%
PROVIDENCE-WARWICK, RI-MA (FHA\|USDA\|VA)	3	$1,105,000	$368,333	$0	0.00%
Keene, NH (FHA\|USDA\|VA)	4	$910,000	$227,500	$0	0.00%
MANCHESTER-NASHUA, NH (FHA\|USDA\|VA)	5	$705,000	$141,000	$0	0.00%
BURLINGTON-SOUTH BURLINGTON, VT (FHA\|USDA\|VA)	1	$515,000	$515,000	$0	0.00%
NEW HAVEN-MILFORD, CT (FHA\|USDA\|VA)	1	$305,000	$305,000	$0	0.00%

Rollstone Bank & Trust's top markets include Worcester, Boston, Barnstable Town, Portland, and Providence among others.

Their top states include:

Massachusetts (FHA|USDA|VA)

New Hampshire (FHA|USDA|VA)

Maine (FHA|USDA|VA)

Vermont (FHA|USDA|VA)

Connecticut (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	305	$83,455,000	$273,623	$0	0.00%

For 2020, Rollstone Bank & Trust's most frequently originated type of loan was Conventional, with 305 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	177	$50,095,000	$283,023	$0	0.00%
Home Purchase	74	$21,830,000	$295,000	$0	0.00%
Cash Out Refi	53	$11,375,000	$214,623	$0	0.00%
Home Improvement	1	$155,000	$155,000	$0	0.00%

For 2020, Rollstone Bank & Trust's most frequently cited loan purpose was Refi, with 177 originations. The 2nd most popular reason was Home Purchase, with 74 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	305	$83,455,000	$273,623	$0	0.00%

For 2020, Rollstone Bank & Trust's most frequently cited loan duration was Other, with 305 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	147	$41,045,000	$279,218	$0	0.00%
$100k-200k	99	$15,265,000	$154,192	$0	0.00%
$400k-600k	36	$16,590,000	$460,833	$0	0.00%
$100,000 or less	11	$865,000	$78,636	$0	0.00%
$600k-1MM	10	$7,050,000	$705,000	$0	0.00%
$1MM+	2	$2,640,000	$1,320,000	$0	0.00%

2020 saw Rollstone Bank & Trust place emphasis on $200k-400k loans with 147 originations, totaling $41,045,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	88	$24,440,000	$277,727	$0	0.00%
$150k-250k	63	$19,155,000	$304,048	$0	0.00%
$75k-100k	51	$11,575,000	$226,961	$0	0.00%
$50k-75k	48	$8,690,000	$181,042	$0	0.00%
$250k+	32	$16,160,000	$505,000	$0	0.00%
$50k or less	14	$1,830,000	$130,714	$0	0.00%

Rollstone Bank & Trust lent most frequently to those with incomes in the $100k-150k range, with 88 originations. The second most popular income band? $150k-250k, with 63 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	305	$83,455,000	$273,623	$0	0.00%

Rollstone Bank & Trust lent most frequently to those with DTI ratios of Exempt%, with 305 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	265	$70,975,000	$267,830	$0	0.00%
Not provided	34	$10,650,000	$313,235	$0	0.00%
American Indian	1	$885,000	$885,000	$0	0.00%
Black	3	$525,000	$175,000	$0	0.00%
Not applicable	2	$420,000	$210,000	$0	0.00%

Approval Rates

Total approvals of all applications
96.54%

Rollstone Bank & Trust has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
90.82%

Rollstone Bank & Trust has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	305	$83,455,000	$273,623

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	305	$83,455,000	$273,623

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Rollstone Bank & Trust	225 Main Street Townsend, MA 1469	Full Service B&M	$52,241
Rollstone Bank & Trust	24 Monument Square Leominster, MA 1453	Full Service B&M	$168,255
Rollstone Bank & Trust	519 Electric Avenue Fitchburg, MA 1420	Full Service B&M	$66,425
Rollstone Bank & Trust	721 Central Street Leominster, MA 1453	Full Service B&M	$56,735
Rollstone Bank & Trust	780 Main Street Fitchburg, MA 1420	Full Service B&M	$0
Rollstone Bank & Trust	788 Boston Road Groton, MA 1450	Full Service B&M	$12,243
Rollstone Bank & Trust	John Fitch Highway Fitchburg, MA 1420	Full Service B&M	$79,045
Rollstone Bank & Trust	Route 110 And Old Mill Road Harvard, MA 1451	Full Service B&M	$87,094

For 2020, Rollstone Bank & Trust had 8 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$24,819
Net interest income	$17,810
Total noninterest income	$3,621
Gross Fiduciary activities income	$714
Service charges on deposit accounts	$297
Trading account gains and fees	$0
Additional Noninterest Income	$2,610
Pre-tax net operating income	$3,605
Securities gains (or losses, -)	$2,983
Income before extraordinary items	$5,245
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$5,245
Minority interest net income	$0
Net income	$5,245
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$2,858

Rollstone Bank & Trust's gross interest income from loans was $24,819,000.
Rollstone Bank & Trust's net interest income from loans was $17,810,000.
Rollstone Bank & Trust's fee based income from loans was $297,000.
Rollstone Bank & Trust's net income from loans was $5,245,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$7,009
Provision for credit losses	$1,200
Total noninterest expense	$16,626
Salaries and employee benefits	$10,770
Premises and equipment expense	$2,039
Additional noninterest expense	$3,817
Applicable income taxes	$1,343
Net charge-offs	$686
Cash dividends	$207

Rollstone Bank & Trust's interest expense for loans was $7,009,000.
Rollstone Bank & Trust's payroll and benefits expense were $10,770,000.
Rollstone Bank & Trust's property, plant and equipment expenses $2,039,000.

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	$595,242
Deposits held in domestic offices	$595,242
Deposits by Individuals, partnerships, and corporations	$595,242
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	$36,348
Demand deposits	$26,361
Nontransaction accounts	$558,894
Money market deposit accounts (MMDAs)	$80,813
Other savings deposits (excluding MMDAs)	$201,808
Total time deposits	$276,273
Total time and savings deposits	$568,881
Noninterest-bearing deposits	$104,277
Interest-bearing deposits	$490,965
Retail deposits	$427,530
IRAs and Keogh plan accounts	$14,680
Brokered deposits	$144,415
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$792,319
Cash & Balances due from depository institutions	$3,682
Interest-bearing balances	$340
Total securities	$246,269
Federal funds sold & reverse repurchase	$0
Net loans and leases	$496,297
Loan and leases loss allowance	$7,126
Trading account assets	$0
Bank premises and fixed assets	$10,802
Other real estate owned	$0
Goodwill and other intangibles	$0
All other assets	$35,269

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$792,319
Total Liabilities	$711,082
Total deposits	$595,242
Interest-bearing deposits	$490,965
Deposits held in domestic offices	$595,242
% insured (estimated)	$81
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$100,690
Subordinated debt	$0
All other liabilities	$15,150

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$496,297
Loan and leases loss allowance	$7,126
Total loans and leases (domestic)	$503,423
All real estate loans	$432,920
Real estate loans in domestic offices	$432,920
Construction and development loans	$13,634
Residential 1-4 family construction	$4,047
Other construction, all land development and other land	$9,587
Loans secured by nonfarm nonresidential properties	$250,980
Nonfarm nonresidential secured by owner-occupied properties	$52,433
Commercial real estate & other non-farm, non-residential	$198,547
Multifamily residential real estate	$25,241
1-4 family residential loans	$143,065
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$60,602
To non-U.S. addressees	$0
Loans to individuals	$695
Credit card loans	$0
Related Plans	$74
Consumer Auto Loans	$216
Other loans to individuals	$405
All other loans & leases	$9,206
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	$3,024
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

Rollstone Bank & Trust had $496,297,000 of loans outstanding in 2020. $432,920,000 of loans were in real estate loans. $13,634,000 of loans were in development loans. $25,241,000 of loans were in multifamily mortgage loans. $143,065,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $216,000 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	142	$47,909	$337,387
Nonfarm, nonresidential loans - <$100k	12	$592	$49,333
Nonfarm, nonresidential loans - $100-250k	30	$3,983	$132,767
Nonfarm, nonresidential loans - $250k-1MM	100	$43,334	$433,340
Commercial & Industrial, US addressed loans - <$1MM	486	$38,548	$79,317
Commercial & Industrial, US addressed loans - <$100k	319	$8,296	$26,006
Commercial & Industrial, US addressed loans - $100-250k	99	$11,490	$116,061
Commercial & Industrial, US addressed loans - $250k-1MM	68	$18,762	$275,912