Fidelity Co-operative Bank Mortgage Rates, Fees & Info
Leominster, MALEI: 5493004LN4GS7BNXIO13
Tax ID: 20-5791745
Latest/2021 | 2020 Data | 2019 Data | 2018 Data
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Mortgage Data
Bank Data
Review & Overview
Fidelity Co-operative Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Fidelity Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Springfield, Barnstable Town, and Keene among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)Fidelity Co-operative Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Fidelity Co-operative Bank is typically an average 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
---|---|---|
30 Year Conventional Purchase | 6.60% | 3/19/23 |
30 Year Conventional Refi | 6.62% | 3/19/23 |
30 Year Cash-out Refi | 6.69% | 3/19/23 |
30 Year FHA Purchase | 6.27% | 3/19/23 |
30 Year FHA Refi | 6.27% | 3/19/23 |
30 Year VA Refi | 6.45% | 3/19/23 |
15 Year Conventional Purchase | 5.67% | 3/19/23 |
15 Year Conventional Refi | 6.05% | 3/19/23 |
15 Year Cash-out Refi | 6.05% | 3/19/23 |
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. |
Originations
567Origination Dollar Volume (All Markets)
$172,825,000Employee count
149 Show all (2) awardsRelative Rate
Fidelity Co-operative Bank's average 30 year fixed mortgage rate was
3.23%.
The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.
This yields a difference of 0.08%.
Relative Fees (Closing Costs)
Fidelity Co-operative Bank's average total fees/closing costs for a 30 year fixed rate
mortgage were $3,145.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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) | 372 | $99,670,000 | $267,930 | $2,646 | 3.09% |
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 158 | $62,320,000 | $394,430 | $2,970 | 3.04% |
SPRINGFIELD, MA (FHA|USDA|VA) | 11 | $3,355,000 | $305,000 | $3,369 | 3.26% |
BARNSTABLE TOWN, MA (FHA|USDA|VA) | 6 | $1,780,000 | $296,667 | $2,593 | 2.73% |
Keene, NH (FHA|USDA|VA) | 7 | $1,645,000 | $235,000 | $3,129 | 2.96% |
MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 4 | $1,100,000 | $275,000 | $2,570 | 3.00% |
Laconia, NH (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $3,390 | 3.38% |
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $530,000 | $265,000 | $3,170 | 3.31% |
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $5,407 | 2.88% |
JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $3,465 | 2.25% |
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $2,818 | 3.38% |
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,549 | 3.25% |
Outside of Metro Areas | 1 | $195,000 | $195,000 | $3,428 | 3.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against Fidelity 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 | 566 | $172,370,000 | $304,541 | $2,763 | 3.08% |
VA | 1 | $455,000 | $455,000 | $8,165 | 2.75% |
For 2021, Fidelity Co-operative Bank's most frequently originated type of loan was Conventional, with 566 originations. Their 2nd most popular type was VA, with 1 originations.
Loan Reason
For 2021, Fidelity Co-operative Bank's most frequently cited loan purpose was Refi, with 207 originations. The 2nd most popular reason was Cash Out Refi, with 198 originations.
Loan Duration/Length
For 2021, Fidelity Co-operative Bank's most frequently cited loan duration was 30 Year, with 324 originations. The 2nd most popular length was 15 Year, with 122 originations.
Origination Fees/Closing Costs
Fidelity Co-operative Bank's average total fees were $3,145, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 422 originations.
Interest Rates
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
3-4% | 241 | $86,635,000 | $359,481 |
2.5-3% | 193 | $56,025,000 | $290,285 |
<2.5% | 100 | $18,850,000 | $188,500 |
4-5% | 28 | $10,720,000 | $382,857 |
5-6% | 4 | $290,000 | $72,500 |
During 2021, Fidelity Co-operative Bank's average interest rate for loans was 3.23%, while their most frequently originated rate bucket for loans was 3-4%, with 241 originations.
Loan Sizing
2021 saw Fidelity Co-operative Bank place emphasis on $200k-400k loans with 247 originations, totaling $68,775,000 in origination value.
Applicant Income
Fidelity Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 148 originations. The second most popular income band? $50k-75k, with 112 originations.
Applicant Debt to Income Ratio
Fidelity Co-operative Bank lent most frequently to those with DTI ratios of 20-30%, with 159 originations. The next most common DTI ratio? 30-36%, with 93 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.35%
Fidelity Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination84.13%
Fidelity Co-operative Bank has a below average pick rate.
Points and Fees
Points | Originations | Total Value | Average Loan |
---|---|---|---|
NA | 567 | $172,825,000 | $304,806 |
LTV Distribution
Complaints
Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
---|---|---|---|---|
Fidelity National Financial, Inc | VA mortgage | Closing on a mortgage | 1 | 4.5% |
Fidelity National Financial, Inc | Other type of mortgage | Closing on a mortgage | 1 | 4.5% |
Fidelity National Financial, Inc | Other type of mortgage | Struggling to pay mortgage | 2 | 9.1% |
Fidelity National Financial, Inc | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 9.1% |
Fidelity National Financial, Inc | Conventional home mortgage | Closing on a mortgage | 11 | 50.0% |
Fidelity National Financial, Inc | Conventional home mortgage | Struggling to pay mortgage | 1 | 4.5% |
Fidelity National Financial, Inc | Conventional home mortgage | Trouble during payment process | 2 | 9.1% |
Fidelity National Financial, Inc | FHA mortgage | Closing on a mortgage | 2 | 9.1% |
Bank Details
Branches
Bank Name | Branch | Branch Type | Deposits (000's) |
---|---|---|---|
Fidelity Co-Operative Bank | 1 School Square Winchendon, MA 1475 | Full Service B&M | $35,154 |
Fidelity Co-Operative Bank | 56 Common St Barre, MA 1005 | Full Service B&M | $72,323 |
Fidelity Co-Operative Bank | 6 City Hall Avenue Gardner, MA 1440 | Full Service B&M | $108,604 |
Fidelity Co-Operative Bank | 713 Pleasant Street Paxton, MA 1612 | Full Service B&M | $38,971 |
Fidelity Co-Operative Bank | 75 Main St Leominster, MA 1453 | Full Service B&M | $100,914 |
Fidelity Co-Operative Bank | 9 Leominster Connector Leominster, MA 1453 | Full Service Cyber Office | $1,066 |
Fidelity Co-Operative Bank | 9 Leominster Connector Leominster, MA 1453 | Full Service B&M | $218,337 |
Fidelity Co-Operative Bank | 129 Chestnut Street Needham, MA 2492 | Full Service B&M | $43,802 |
Fidelity Co-Operative Bank | 130 Whalon Street Fitchburg, MA 1420 | Full Service B&M | $83,029 |
Fidelity Co-Operative Bank | 149 Great Road Stow, MA 1775 | Full Service B&M | $19,740 |
Fidelity Co-Operative Bank | 153 Front Street Worcester, MA 1608 | Full Service B&M | $28,997 |
Fidelity Co-Operative Bank | 16 South Main Street Millbury, MA 1527 | Full Service B&M | $62,532 |
Fidelity Co-Operative Bank | 206 Worcester Road Princeton, MA 1541 | Full Service B&M | $25,992 |
Fidelity Co-Operative Bank | 21 Main Street Shirley, MA 1464 | Full Service B&M | $75,886 |
Fidelity Co-Operative Bank | 465 Shrewsbury Street Worcester, MA 1604 | Full Service B&M | $148,198 |
For 2021, Fidelity Co-operative Bank had 15 branches.
Yearly Performance Overview
Bank Income
Item | Value (in 000's) |
---|---|
Total interest income | $41,674 |
Net interest income | $39,242 |
Total noninterest income | $5,775 |
Gross Fiduciary activities income | $0 |
Service charges on deposit accounts | $917 |
Trading account gains and fees | $0 |
Additional Noninterest Income | $4,858 |
Pre-tax net operating income | $14,435 |
Securities gains (or losses, -) | $2,375 |
Income before extraordinary items | $12,667 |
Discontinued Operations (Extraordinary gains, net) | $0 |
Net income of bank and minority interests | $12,667 |
Minority interest net income | $0 |
Net income | $12,667 |
Sale, conversion, retirement of capital stock, net | $0 |
Net operating income | $10,790 |
Fidelity Co-operative Bank's gross interest income from loans was $41,674,000.
Fidelity Co-operative Bank's net interest income from loans was $39,242,000.
Fidelity Co-operative Bank's fee based income from loans was $917,000.
Fidelity Co-operative Bank's net income from loans was $12,667,000.
Bank Expenses
Item | Value (in 000's) |
---|---|
Total interest expense | $2,432 |
Provision for credit losses | $1 |
Total noninterest expense | $30,581 |
Salaries and employee benefits | $18,967 |
Premises and equipment expense | $3,166 |
Additional noninterest expense | $8,448 |
Applicable income taxes | $4,143 |
Net charge-offs | $-20 |
Cash dividends | $0 |
Fidelity Co-operative Bank's interest expense for loans was $2,432,000.
Fidelity Co-operative Bank's payroll and benefits expense were $18,967,000.
Fidelity Co-operative Bank's property, plant and equipment expenses $3,166,000.
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 | $1,072,189 |
Deposits held in domestic offices | $1,072,189 |
Deposits by Individuals, partnerships, and corporations | $911,549 |
Deposits by U.S. Government | $1 |
Deposits by States and political subdivisions in the U.S. | $140,106 |
Deposits by Commercial banks and other depository institutions in U.S. | $20,533 |
Deposits by Banks in foreign countries | $0 |
Deposits by Foreign governments and official institutions | $0 |
Transaction accounts | $80,592 |
Demand deposits | $69,605 |
Nontransaction accounts | $991,597 |
Money market deposit accounts (MMDAs) | $234,497 |
Other savings deposits (excluding MMDAs) | $541,312 |
Total time deposits | $215,788 |
Total time and savings deposits | $1,002,584 |
Noninterest-bearing deposits | $258,837 |
Interest-bearing deposits | $813,352 |
Retail deposits | $971,183 |
IRAs and Keogh plan accounts | $23,892 |
Brokered deposits | $75,732 |
Deposits held in foreign offices | $0 |
Assets
Asset | Value (in 000's) |
---|---|
Total Assets | $1,223,513 |
Cash & Balances due from depository institutions | $18,075 |
Interest-bearing balances | $9,103 |
Total securities | $244,219 |
Federal funds sold & reverse repurchase | $0 |
Net loans and leases | $901,651 |
Loan and leases loss allowance | $11,171 |
Trading account assets | $0 |
Bank premises and fixed assets | $20,443 |
Other real estate owned | $0 |
Goodwill and other intangibles | $2,855 |
All other assets | $36,270 |
Liabilities
Liabilities | Value (in 000's) |
---|---|
Total liabilities and capital | $1,223,513 |
Total Liabilities | $1,100,280 |
Total deposits | $1,072,189 |
Interest-bearing deposits | $813,352 |
Deposits held in domestic offices | $1,072,189 |
% insured (estimated) | $71 |
Federal funds purchased and repurchase agreements | $0 |
Trading liabilities | $0 |
Other borrowed funds | $18,479 |
Subordinated debt | $0 |
All other liabilities | $9,612 |
Issued Loan Types
Type | Value (in 000's) |
---|---|
Net loans and leases | $901,651 |
Loan and leases loss allowance | $11,171 |
Total loans and leases (domestic) | $912,822 |
All real estate loans | $736,426 |
Real estate loans in domestic offices | $736,426 |
Construction and development loans | $37,769 |
Residential 1-4 family construction | $4,371 |
Other construction, all land development and other land | $33,398 |
Loans secured by nonfarm nonresidential properties | $274,594 |
Nonfarm nonresidential secured by owner-occupied properties | $90,073 |
Commercial real estate & other non-farm, non-residential | $184,521 |
Multifamily residential real estate | $36,136 |
1-4 family residential loans | $387,730 |
Farmland loans | $197 |
Loans held in foreign offices | $0 |
Farm loans | $0 |
Commercial and industrial loans | $174,138 |
To non-U.S. addressees | $0 |
Loans to individuals | $1,839 |
Credit card loans | $0 |
Related Plans | $21 |
Consumer Auto Loans | $308 |
Other loans to individuals | $1,510 |
All other loans & leases | $419 |
Loans to foreign governments and official institutions | $0 |
Other loans | $419 |
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 | $9,120 |
Non 1-4 family restructured loans & leases | $5,647 |
Total loans and leases (foreign) | $0 |
Fidelity Co-operative Bank had $901,651,000 of loans outstanding in 2021. $736,426,000 of loans were in real estate loans. $37,769,000 of loans were in development loans. $36,136,000 of loans were in multifamily mortgage loans. $387,730,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $308,000 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 | 164 | $43,034 | $262,402 |
Nonfarm, nonresidential loans - <$100k | 19 | $1,057 | $55,632 |
Nonfarm, nonresidential loans - $100-250k | 55 | $7,488 | $136,145 |
Nonfarm, nonresidential loans - $250k-1MM | 90 | $34,489 | $383,211 |
Commercial & Industrial, US addressed loans - <$1MM | 653 | $96,513 | $147,799 |
Commercial & Industrial, US addressed loans - <$100k | 291 | $12,240 | $42,062 |
Commercial & Industrial, US addressed loans - $100-250k | 175 | $23,271 | $132,977 |
Commercial & Industrial, US addressed loans - $250k-1MM | 187 | $61,002 | $326,214 |
Farmland loans - <$1MM | 1 | $197 | $197,000 |
Farmland loans - $250k-1MM | 1 | $197 | $197,000 |