Fidelity Co-operative Bank Mortgage Rates, Fees & Info
Leominster, MALEI: 5493004LN4GS7BNXIO13
Tax ID: 20-5791745
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Mortgage Data
Bank Data
Review & Overview
Fidelity Co-operative Bank is a smaller bank specializing in Home Purchase loans. Fidelity Co-operative Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Boston, Worcester, Naples, Springfield, and Providence among others. We have data for 8 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.
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 |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 5.95% | 4/21/24 |
| 30 Year Conventional Refi | 6.34% | 4/21/24 |
| 30 Year Cash-out Refi | 6.74% | 4/21/24 |
| 30 Year FHA Purchase | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 4.87% | 4/21/24 |
| 15 Year Conventional Refi | 5.94% | 4/21/24 |
| 15 Year Cash-out Refi | 5.94% | 4/21/24 |
| 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. | ||
Fidelity 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
335Origination Dollar Volume (All Markets)
$116,015,000Employee count
167Top 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) | 84 | $60,340,000 | $718,333 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 229 | $47,105,000 | $205,699 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $3,525,000 | $3,525,000 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 7 | $1,555,000 | $222,143 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 5 | $1,445,000 | $289,000 | $0 | 0.00% |
| Keene, NH (FHA|USDA|VA) | 3 | $715,000 | $238,333 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 3 | $645,000 | $215,000 | $0 | 0.00% |
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 | 331 | $115,075,000 | $347,659 | $0 | 0.00% |
| USDA | 4 | $940,000 | $235,000 | $0 | 0.00% |
For 2018, Fidelity Co-operative Bank's most frequently originated type of loan was Conventional, with 331 originations. Their 2nd most popular type was USDA, with 4 originations.
Loan Reason
For 2018, Fidelity Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 221 originations. The 2nd most popular reason was Refi, with 55 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 335 | $116,015,000 | $346,313 | $0 | 0.00% |
For 2018, Fidelity Co-operative Bank's most frequently cited loan duration was Other, with 335 originations.
Loan Sizing
2018 saw Fidelity Co-operative Bank place emphasis on $200k-400k loans with 104 originations, totaling $27,920,000 in origination value.
Applicant Income
Fidelity Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $50k-75k, with 65 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 335 | $116,015,000 | $346,313 | $0 | 0.00% |
Fidelity Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 335 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.06%
Fidelity Co-operative Bank has a below average approval rate.
Pick Rate
Approvals leading to origination79.70%
Fidelity Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 335 | $116,015,000 | $346,313 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 2 | $16,940,000 | $8,470,000 |
| Single Family (1-4 Units):Site-Built | 333 | $99,075,000 | $297,523 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Fidelity National Financial, Inc | Conventional home mortgage | Closing on a mortgage | 5 | 41.7% |
| Fidelity National Financial, Inc | Conventional home mortgage | Struggling to pay mortgage | 1 | 8.3% |
| Fidelity National Financial, Inc | Conventional home mortgage | Trouble during payment process | 4 | 33.3% |
| Fidelity National Financial, Inc | Other type of mortgage | Closing on a mortgage | 1 | 8.3% |
| Fidelity National Financial, Inc | Other type of mortgage | Trouble during payment process | 1 | 8.3% |
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 | $28,102 |
| Fidelity Co-operative Bank | 16 South Main Street Millbury, MA 1527 | Full Service B&M | $50,071 |
| Fidelity Co-operative Bank | 206 Worcester Road Princeton, MA 1541 | Full Service B&M | $20,265 |
| Fidelity Co-operative Bank | 21 Main Street Shirley, MA 1464 | Full Service B&M | $59,616 |
| Fidelity Co-operative Bank | 330 Main Street Gardner, MA 1440 | Full Service B&M | $89,318 |
| Fidelity Co-operative Bank | 465 Shrewsbury Street Worcester, MA 1604 | Full Service B&M | $90,701 |
| Fidelity Co-operative Bank | 56 Common St Barre, MA 1005 | Full Service B&M | $65,221 |
| Fidelity Co-operative Bank | 675 Main Street Fitchburg, MA 1420 | Full Service B&M | $59,627 |
| Fidelity Co-operative Bank | 713 Pleasant Street Paxton, MA 1612 | Full Service B&M | $35,467 |
| Fidelity Co-operative Bank | 75 Main St Leominster, MA 1453 | Full Service B&M | $99,110 |
| Fidelity Co-operative Bank | 9 Leominster Connector Leominster, MA 1453 | Full Service Cyber Office | $667 |
| Fidelity Co-operative Bank | 9 Leominster Connector Leominster, MA 1453 | Full Service B&M | $170,666 |
For 2018, Fidelity Co-operative Bank had 12 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $35,888 |
| Net interest income | $29,881 |
| Total noninterest income | $3,944 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $860 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,084 |
| Pre-tax net operating income | $5,908 |
| Securities gains (or losses, -) | $-22 |
| Income before extraordinary items | $4,716 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,716 |
| Minority interest net income | $0 |
| Net income | $4,716 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,733 |
Fidelity Co-operative Bank's gross interest income from loans was $35,888,000.
Fidelity Co-operative Bank's net interest income from loans was $29,881,000.
Fidelity Co-operative Bank's fee based income from loans was $860,000.
Fidelity Co-operative Bank's net income from loans was $4,716,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,007 |
| Provision for credit losses | $895 |
| Total noninterest expense | $27,022 |
| Salaries and employee benefits | $15,504 |
| Premises and equipment expense | $2,786 |
| Additional noninterest expense | $8,732 |
| Applicable income taxes | $1,170 |
| Net charge-offs | $47 |
| Cash dividends | $0 |
Fidelity Co-operative Bank's interest expense for loans was $6,007,000.
Fidelity Co-operative Bank's payroll and benefits expense were $15,504,000.
Fidelity Co-operative Bank's property, plant and equipment expenses $2,786,000.
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 | 1.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 2.0% |
| Credit card loans | 0.0% |
| Other individual loans | 2.0% |
| Auto loans | 0.0% |
| Other consumer loans | 2.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $797,621 |
| Deposits held in domestic offices | $797,621 |
| Deposits by Individuals, partnerships, and corporations | $672,321 |
| Deposits by U.S. Government | $1 |
| Deposits by States and political subdivisions in the U.S. | $108,476 |
| Deposits by Commercial banks and other depository institutions in U.S. | $16,823 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $56,143 |
| Demand deposits | $34,415 |
| Nontransaction accounts | $741,478 |
| Money market deposit accounts (MMDAs) | $175,364 |
| Other savings deposits (excluding MMDAs) | $348,546 |
| Total time deposits | $217,567 |
| Total time and savings deposits | $763,206 |
| Noninterest-bearing deposits | $141,790 |
| Interest-bearing deposits | $655,831 |
| Retail deposits | $694,480 |
| IRAs and Keogh plan accounts | $23,849 |
| Brokered deposits | $78,642 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $935,074 |
| Cash & Balances due from depository institutions | $20,450 |
| Interest-bearing balances | $6,068 |
| Total securities | $95,503 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $766,119 |
| Loan and leases loss allowance | $6,244 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $19,977 |
| Other real estate owned | $36 |
| Goodwill and other intangibles | $2,780 |
| All other assets | $30,209 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $935,074 |
| Total Liabilities | $856,730 |
| Total deposits | $797,621 |
| Interest-bearing deposits | $655,831 |
| Deposits held in domestic offices | $797,621 |
| % insured (estimated) | $78 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $53,114 |
| Subordinated debt | $0 |
| All other liabilities | $5,995 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $766,119 |
| Loan and leases loss allowance | $6,244 |
| Total loans and leases (domestic) | $772,363 |
| All real estate loans | $655,901 |
| Real estate loans in domestic offices | $655,901 |
| Construction and development loans | $32,629 |
| Residential 1-4 family construction | $9,409 |
| Other construction, all land development and other land | $23,220 |
| Loans secured by nonfarm nonresidential properties | $218,196 |
| Nonfarm nonresidential secured by owner-occupied properties | $106,116 |
| Commercial real estate & other non-farm, non-residential | $112,080 |
| Multifamily residential real estate | $17,092 |
| 1-4 family residential loans | $387,760 |
| Farmland loans | $224 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $113,902 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,009 |
| Credit card loans | $0 |
| Related Plans | $51 |
| Consumer Auto Loans | $97 |
| Other loans to individuals | $1,861 |
| All other loans & leases | $551 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $551 |
| 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 | $7,351 |
| Non 1-4 family restructured loans & leases | $2,496 |
| Total loans and leases (foreign) | $0 |
Fidelity Co-operative Bank had $766,119,000 of loans outstanding in 2018. $655,901,000 of loans were in real estate loans. $32,629,000 of loans were in development loans. $17,092,000 of loans were in multifamily mortgage loans. $387,760,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $97,000 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 | 181 | $50,116 | $276,884 |
| Nonfarm, nonresidential loans - <$100k | 28 | $2,797 | $99,893 |
| Nonfarm, nonresidential loans - $100-250k | 62 | $8,529 | $137,565 |
| Nonfarm, nonresidential loans - $250k-1MM | 91 | $38,790 | $426,264 |
| Commercial & Industrial, US addressed loans - <$1MM | 385 | $45,094 | $117,127 |
| Commercial & Industrial, US addressed loans - <$100k | 214 | $6,004 | $28,056 |
| Commercial & Industrial, US addressed loans - $100-250k | 79 | $8,621 | $109,127 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 92 | $30,469 | $331,185 |
| Farmland loans - <$1MM | 1 | $224 | $224,000 |
| Farmland loans - $250k-1MM | 1 | $224 | $224,000 |