North Easton Savings Bank Mortgage Rates, Fees & Info

South Easton, MA

LEI: 54930048J00QUF04FP72

Tax ID: 04-1677530

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

North Easton Savings Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. North Easton Savings Bank has a high proportion of conventional loans. Their top markets include Boston, Providence, Barnstable Town, Worcester, and Vineyard Haven among others. North Easton Savings Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. North Easton Savings Bank is typically a low fee lendor.


Originations

687

Origination Dollar Volume (All Markets)

$281,975,000

Employee count

185

Awards

North Easton Savings Bank 30 Year Conventional Loans bronze North Easton Savings Bank 30 Year Conventional Loans silver North Easton Savings Bank 30 Year Conventional Loans bronze
Show all (3) awards

Relative Rate

North Easton Savings Bank's average 30 year fixed rate mortgage of loans were 3.07%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.08%.

Relative Fees

North Easton Savings Bank's average total fees for a 30 year fixed rate mortgage are $3,157.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 439 $187,085,000 $426,162 $2,907 3.13%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 214 $80,650,000 $376,869 $2,623 2.97%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 24 $9,350,000 $389,583 $3,241 3.13%
Outside of Metro Areas 1 $2,005,000 $2,005,000 $6,915 2.75%
WORCESTER, MA-CT (FHA|USDA|VA) 3 $1,115,000 $371,667 $2,786 3.46%
Vineyard Haven, MA (FHA|USDA|VA) 2 $690,000 $345,000 $3,362 2.88%
SPRINGFIELD, MA (FHA|USDA|VA) 2 $570,000 $285,000 $3,130 3.63%
PITTSFIELD, MA (FHA|USDA|VA) 1 $395,000 $395,000 $2,887 2.38%
Lebanon, NH-VT (FHA|USDA|VA) 1 $115,000 $115,000 $2,813 2.50%

North Easton Savings Bank's top markets include Boston, Providence, Barnstable Town, Worcester, and Vineyard Haven among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 687 $281,975,000 $410,444 $2,836 3.08%

For the 2021 period, North Easton Savings Bank's most frequently originated loan type of loans were Conventional, with 687 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 234 $86,320,000 $368,889 $2,612 2.86%
Home Purchase 214 $121,140,000 $566,075 $3,782 3.30%
Cash Out Refi 213 $67,395,000 $316,408 $2,533 2.99%
Home Improvement 14 $6,080,000 $434,286 $847 3.96%
Other 12 $1,040,000 $86,667 $50 3.82%

For the 2021, North Easton Savings Bank's most frequently cited loan purpose of loans were Refi, with 234 originations. The 2nd most popular reason of loans were Home Purchase, with 214 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 384 $154,020,000 $401,094 $3,157 3.07%
15 Year 125 $30,825,000 $246,600 $2,340 2.66%
20 Year 54 $13,770,000 $255,000 $1,959 3.10%
10 Year 53 $37,565,000 $708,774 $1,367 3.17%
30+ year 30 $21,550,000 $718,333 $4,120 3.04%
Other 28 $20,090,000 $717,500 $2,609 3.85%
1 Year 11 $4,105,000 $373,182 $0 5.73%
5 Year 2 $50,000 $25,000 $0 3.31%

For the 2021, North Easton Savings Bank's most frequently cited loan length of loans were 30 Year, with 384 originations. The 2nd most popular length of loans were 15 Year, with 125 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 581 $206,295,000 $355,069
$5k+ 3 $2,665,000 $888,333
$1k-2k 2 $430,000 $215,000
$2k-3k 2 $750,000 $375,000
$3k-4k 1 $485,000 $485,000

$3,157 of loans were North Easton Savings Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 581 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 299 $120,315,000 $402,391
3-4% 249 $107,585,000 $432,068
<2.5% 101 $32,425,000 $321,040
4-5% 20 $13,660,000 $683,000
5-6% 14 $6,150,000 $439,286
6-7% 4 $1,840,000 $460,000

During 2021, North Easton Savings Bank's average interest rate of loans were 3.07%, while their most frequently originated rate bucket of loans were 2.5-3%, with 299 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 302 $88,550,000 $293,212 $2,686 3.10%
$400k-600k 123 $58,945,000 $479,228 $3,203 3.07%
$100k-200k 117 $17,675,000 $151,068 $2,231 2.85%
$600k-1MM 79 $56,945,000 $720,823 $4,304 3.12%
$100,000 or less 40 $2,140,000 $53,500 $777 3.33%
$1MM+ 26 $57,720,000 $2,220,000 $5,983 3.38%

2021 saw North Easton Savings Bank place emphasis on $200k-400k loans with 302 originations, totaling $88,550,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 167 $52,105,000 $312,006 $2,697 2.99%
$150k-250k 141 $57,165,000 $405,426 $2,884 2.94%
$75k-100k 120 $33,410,000 $278,417 $2,608 2.99%
$50k-75k 93 $20,845,000 $224,140 $2,535 3.03%
$250k+ 89 $56,975,000 $640,169 $3,981 2.92%
$50k or less 22 $3,530,000 $160,455 $1,983 3.02%

North Easton Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 167 originations. The second most popular income band? $150k-250k, with 141 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 165 $57,725,000 $349,848 $2,836 2.88%
30-36% 119 $41,305,000 $347,101 $2,913 2.93%
<20% 60 $18,360,000 $306,000 $2,492 2.74%
43% 33 $12,265,000 $371,667 $2,748 3.03%
37% 28 $11,250,000 $401,786 $2,839 3.23%
42% 25 $7,795,000 $311,800 $2,741 3.08%
38% 24 $9,030,000 $376,250 $3,079 3.05%
36% 24 $9,140,000 $380,833 $2,808 2.98%
41% 23 $8,155,000 $354,565 $2,503 3.08%
40% 23 $9,625,000 $418,478 $3,064 3.14%
46% 21 $9,325,000 $444,048 $3,750 3.07%
39% 20 $6,820,000 $341,000 $3,027 3.03%
44% 20 $6,840,000 $342,000 $2,819 3.00%
45% 16 $3,790,000 $236,875 $2,008 3.12%
47% 11 $4,135,000 $375,909 $2,752 2.92%
48% 7 $2,075,000 $296,429 $2,907 2.89%
49% 5 $2,385,000 $477,000 $3,572 3.23%
50-60% 4 $1,990,000 $497,500 $3,218 3.13%
>60% 1 $795,000 $795,000 $5,250 3.00%

North Easton Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 165 originations. The next most common DTI ratio? 30-36%, with 119 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 429 $144,705,000 $337,308 $2,763 2.93%
Not applicable 49 $56,325,000 $1,149,490 $0 4.42%
Not provided 118 $41,770,000 $353,983 $2,726 2.97%
Asian 64 $29,130,000 $455,156 $3,601 3.26%
Black 23 $8,635,000 $375,435 $2,758 3.04%
American Indian 2 $840,000 $420,000 $3,017 2.94%
Other Asian 2 $570,000 $285,000 $2,518 3.00%

Approval Rates

Total approvals of all applications
90.10%

North Easton Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
86.63%

North Easton Savings Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 687 $281,975,000 $410,444

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
687 $281,975,000 $410,444

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 103 $20,015,000 $194,320 $2,348 2.83%
40-60% 189 $63,235,000 $334,577 $2,771 2.90%
60-80% 259 $145,635,000 $562,297 $3,252 3.16%
80-100% 84 $42,810,000 $509,643 $3,453 3.09%
Over 100% 10 $7,090,000 $709,000 $0 5.20%
Under 20% 42 $3,190,000 $75,952 $814 3.45%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
NORTHWEST BANCSHARES INC Conventional home mortgage Struggling to pay mortgage 1 11.1%
NORTHWEST BANCSHARES INC Conventional home mortgage Trouble during payment process 5 55.6%
NORTHWEST BANCSHARES INC Home equity loan or line of credit (HELOC) Trouble during payment process 1 11.1%
NORTHWEST BANCSHARES INC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
NORTHWEST BANCSHARES INC Other type of mortgage Struggling to pay mortgage 1 11.1%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
North Easton Savings Bank 656 Crescent Street Brockton, MA 2302 Full Service B&M $30,067
North Easton Savings Bank 172 Mansfield Avenue Norton, MA 2766 Full Service B&M $61,108
North Easton Savings Bank 2 Pilgrim Hill Road Plymouth, MA 2360 Full Service B&M $29,681
North Easton Savings Bank 20 Eastman St South Easton, MA 2375 Full Service B&M $54,186
North Easton Savings Bank 20 Eastman Street South Easton, MA 2375 Full Service Cyber Office $42,719
North Easton Savings Bank 25 West Main Street Norton, MA 2766 Full Service B&M $109,522
North Easton Savings Bank 295 Main Street North Easton, MA 2356 Full Service B&M $189,173
North Easton Savings Bank 336 Plymouth Street Halifax, MA 2338 Full Service B&M $60,968
North Easton Savings Bank 342 Bedford Street Whitman, MA 2382 Full Service B&M $41,946
North Easton Savings Bank 430 Liberty Street Hanson, MA 2341 Full Service B&M $57,037
North Easton Savings Bank 448 W Grove Street Middleboro, MA 2346 Full Service B&M $53,218
North Easton Savings Bank 547 Washington Street South Easton, MA 2375 Full Service B&M $69,811
North Easton Savings Bank 570 Washington St Whitman, MA 2382 Full Service B&M $71,169
North Easton Savings Bank 679 Depot Street South Easton, MA 2375 Full Service B&M $91,354
North Easton Savings Bank 71 Copeland Drive Mansfield, MA 2048 Full Service B&M $68,014
North Easton Savings Bank 74 Main Street Carver, MA 2330 Full Service B&M $67,511
North Easton Savings Bank 777 Belmont Street Brockton, MA 2301 Full Service B&M $77,131

For 2021, North Easton Savings Bank had 17 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $40,627
Net interest income $37,032
Total noninterest income $9,463
Gross Fiduciary activities income $0
Service charges on deposit accounts $3,057
Trading account gains and fees $0
Additional Noninterest Income $6,406
Pre-tax net operating income $8,396
Securities gains (or losses, -) $1,569
Income before extraordinary items $8,205
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $8,205
Minority interest net income $0
Net income $8,205
Sale, conversion, retirement of capital stock, net $0
Net operating income $6,918

North Easton Savings Bank's gross interest income from loans was $40,627,000.
North Easton Savings Bank's net interest income from loans was $37,032,000.
North Easton Savings Bank's fee based income from loans was $3,057,000.
North Easton Savings Bank's net income from loans was $8,205,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,595
Provision for credit losses $1,629
Total noninterest expense $36,470
Salaries and employee benefits $18,071
Premises and equipment expense $4,880
Additional noninterest expense $13,519
Applicable income taxes $1,760
Net charge-offs $23
Cash dividends $0

North Easton Savings Bank's interest expense for loans was $3,595,000.
North Easton Savings Bank's payroll and benefits expense were $18,071,000.
North Easton Savings Bank's property, plant and equipment expenses $4,880,000.

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 $1,246,503
Deposits held in domestic offices $1,246,503
Deposits by Individuals, partnerships, and corporations $1,219,738
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $17,937
Deposits by Commercial banks and other depository institutions in U.S. $8,828
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $496,875
Demand deposits $327,292
Nontransaction accounts $749,628
Money market deposit accounts (MMDAs) $301,536
Other savings deposits (excluding MMDAs) $296,048
Total time deposits $152,043
Total time and savings deposits $919,211
Noninterest-bearing deposits $317,715
Interest-bearing deposits $928,788
Retail deposits $1,213,105
IRAs and Keogh plan accounts $35,803
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,397,507
Cash & Balances due from depository institutions $56,170
Interest-bearing balances $40,286
Total securities $253,262
Federal funds sold & reverse repurchase $0
Net loans and leases $997,853
Loan and leases loss allowance $6,479
Trading account assets $2,241
Bank premises and fixed assets $24,542
Other real estate owned $0
Goodwill and other intangibles $24,628
All other assets $38,811

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,397,507
Total Liabilities $1,266,211
Total deposits $1,246,503
Interest-bearing deposits $928,788
Deposits held in domestic offices $1,246,503
% insured (estimated) $80
Federal funds purchased and repurchase agreements $0
Trading liabilities $2,241
Other borrowed funds $115
Subordinated debt $0
All other liabilities $17,352

Issued Loan Types

Type Value (in 000's)
Net loans and leases $997,853
Loan and leases loss allowance $6,479
Total loans and leases (domestic) $1,004,332
All real estate loans $911,850
Real estate loans in domestic offices $911,850
Construction and development loans $61,205
Residential 1-4 family construction $25,430
Other construction, all land development and other land $35,775
Loans secured by nonfarm nonresidential properties $173,760
Nonfarm nonresidential secured by owner-occupied properties $53,712
Commercial real estate & other non-farm, non-residential $120,048
Multifamily residential real estate $52,847
1-4 family residential loans $624,038
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $72,122
To non-U.S. addressees $0
Loans to individuals $20,360
Credit card loans $0
Related Plans $0
Consumer Auto Loans $4,167
Other loans to individuals $16,193
All other loans & leases $0
Loans to foreign governments and official institutions $0
Other loans $0
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 $3,117
Non 1-4 family restructured loans & leases $116
Total loans and leases (foreign) $0

North Easton Savings Bank had $997,853,000 of loans outstanding in 2021. $911,850,000 of loans were in real estate loans. $61,205,000 of loans were in development loans. $52,847,000 of loans were in multifamily mortgage loans. $624,038,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,167,000 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 245 $73,542 $300,171
Nonfarm, nonresidential loans - <$100k 16 $667 $41,688
Nonfarm, nonresidential loans - $100-250k 77 $10,888 $141,403
Nonfarm, nonresidential loans - $250k-1MM 152 $61,987 $407,809
Commercial & Industrial, US addressed loans - <$1MM 465 $61,277 $131,778
Commercial & Industrial, US addressed loans - <$100k 224 $6,458 $28,830
Commercial & Industrial, US addressed loans - $100-250k 112 $14,251 $127,241
Commercial & Industrial, US addressed loans - $250k-1MM 129 $40,568 $314,481