Fidelity Co-operative Bank Mortgage Rates, Fees & Info
Leominster, MALEI: 5493004LN4GS7BNXIO13
Tax ID: 20-5791745
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Bank Data
Review & Overview
Fidelity Co-operative Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Fidelity Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Barnstable Town, Springfield, and Providence among others. We have data for 10 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% | 4/19/24 |
| 30 Year Conventional Purchase | 5.95% | 4/19/24 |
| 30 Year Conventional Refi | 6.34% | 4/19/24 |
| 30 Year Cash-out Refi | 6.74% | 4/19/24 |
| 30 Year FHA Purchase | 6.27% | 4/19/24 |
| 15 Year Conventional Purchase | 4.87% | 4/19/24 |
| 15 Year Conventional Refi | 5.94% | 4/19/24 |
| 15 Year Cash-out Refi | 5.94% | 4/19/24 |
| 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
374Origination Dollar Volume (All Markets)
$111,860,000Employee count
155Top 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) | 244 | $59,290,000 | $242,992 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 96 | $39,900,000 | $415,625 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 8 | $3,480,000 | $435,000 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 8 | $2,110,000 | $263,750 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 2 | $1,820,000 | $910,000 | $0 | 0.00% |
| Keene, NH (FHA|USDA|VA) | 6 | $1,640,000 | $273,333 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 6 | $1,570,000 | $261,667 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $790,000 | $395,000 | $0 | 0.00% |
| Laconia, NH (FHA|USDA|VA) | 1 | $645,000 | $645,000 | $0 | 0.00% |
| Vineyard Haven, MA (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $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 | 374 | $111,860,000 | $299,091 | $0 | 0.00% |
For 2019, Fidelity Co-operative Bank's most frequently originated type of loan was Conventional, with 374 originations.
Loan Reason
For 2019, Fidelity Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 187 originations. The 2nd most popular reason was Cash Out Refi, with 89 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 374 | $111,860,000 | $299,091 | $0 | 0.00% |
For 2019, Fidelity Co-operative Bank's most frequently cited loan duration was Other, with 374 originations.
Loan Sizing
2019 saw Fidelity Co-operative Bank place emphasis on $200k-400k loans with 158 originations, totaling $44,980,000 in origination value.
Applicant Income
Fidelity Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 87 originations. The second most popular income band? $150k-250k, with 77 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 374 | $111,860,000 | $299,091 | $0 | 0.00% |
Fidelity Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 374 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications84.85%
Fidelity Co-operative Bank has a below average approval rate.
Pick Rate
Approvals leading to origination71.12%
Fidelity Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 374 | $111,860,000 | $299,091 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 3 | $1,115,000 | $371,667 |
| Single Family (1-4 Units):Site-Built | 371 | $110,745,000 | $298,504 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Fidelity National Financial, Inc | Reverse mortgage | Trouble during payment process | 1 | 11.1% |
| Fidelity National Financial, Inc | Other type of mortgage | Struggling to pay mortgage | 1 | 11.1% |
| Fidelity National Financial, Inc | Other type of mortgage | Trouble during payment process | 1 | 11.1% |
| Fidelity National Financial, Inc | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 11.1% |
| Fidelity National Financial, Inc | Conventional home mortgage | Closing on a mortgage | 2 | 22.2% |
| Fidelity National Financial, Inc | Conventional home mortgage | Trouble during payment process | 1 | 11.1% |
| Fidelity National Financial, Inc | Other type of mortgage | Closing on a mortgage | 2 | 22.2% |
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 | $27,326 |
| Fidelity Co-operative Bank | 153 Front Street Worcester, MA 1608 | Full Service B&M | $47,075 |
| Fidelity Co-operative Bank | 16 South Main Street Millbury, MA 1527 | Full Service B&M | $50,276 |
| Fidelity Co-operative Bank | 206 Worcester Road Princeton, MA 1541 | Full Service B&M | $20,859 |
| Fidelity Co-operative Bank | 21 Main Street Shirley, MA 1464 | Full Service B&M | $64,715 |
| Fidelity Co-operative Bank | 465 Shrewsbury Street Worcester, MA 1604 | Full Service B&M | $100,642 |
| Fidelity Co-operative Bank | 56 Common St Barre, MA 1005 | Full Service B&M | $61,456 |
| Fidelity Co-operative Bank | 6 City Hall Avenue Gardner, MA 1440 | Full Service B&M | $91,347 |
| Fidelity Co-operative Bank | 675 Main Street Fitchburg, MA 1420 | Full Service B&M | $68,154 |
| Fidelity Co-operative Bank | 713 Pleasant Street Paxton, MA 1612 | Full Service B&M | $39,497 |
| Fidelity Co-operative Bank | 75 Main St Leominster, MA 1453 | Full Service B&M | $100,817 |
| Fidelity Co-operative Bank | 9 Leominster Connector Leominster, MA 1453 | Full Service Cyber Office | $592 |
| Fidelity Co-operative Bank | 9 Leominster Connector Leominster, MA 1453 | Full Service B&M | $190,108 |
For 2019, Fidelity Co-operative Bank had 13 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $40,735 |
| Net interest income | $30,813 |
| Total noninterest income | $5,265 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,043 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $4,222 |
| Pre-tax net operating income | $7,615 |
| Securities gains (or losses, -) | $242 |
| Income before extraordinary items | $6,083 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $6,083 |
| Minority interest net income | $0 |
| Net income | $6,083 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $5,891 |
Fidelity Co-operative Bank's gross interest income from loans was $40,735,000.
Fidelity Co-operative Bank's net interest income from loans was $30,813,000.
Fidelity Co-operative Bank's fee based income from loans was $1,043,000.
Fidelity Co-operative Bank's net income from loans was $6,083,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $9,922 |
| Provision for credit losses | $655 |
| Total noninterest expense | $27,808 |
| Salaries and employee benefits | $16,328 |
| Premises and equipment expense | $2,964 |
| Additional noninterest expense | $8,516 |
| Applicable income taxes | $1,774 |
| Net charge-offs | $62 |
| Cash dividends | $125 |
Fidelity Co-operative Bank's interest expense for loans was $9,922,000.
Fidelity Co-operative Bank's payroll and benefits expense were $16,328,000.
Fidelity Co-operative Bank's property, plant and equipment expenses $2,964,000.
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 | 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 | $855,857 |
| Deposits held in domestic offices | $855,857 |
| Deposits by Individuals, partnerships, and corporations | $707,829 |
| Deposits by U.S. Government | $1 |
| Deposits by States and political subdivisions in the U.S. | $131,056 |
| Deposits by Commercial banks and other depository institutions in U.S. | $16,972 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $67,036 |
| Demand deposits | $45,969 |
| Nontransaction accounts | $788,822 |
| Money market deposit accounts (MMDAs) | $214,270 |
| Other savings deposits (excluding MMDAs) | $366,615 |
| Total time deposits | $207,937 |
| Total time and savings deposits | $809,889 |
| Noninterest-bearing deposits | $141,369 |
| Interest-bearing deposits | $714,488 |
| Retail deposits | $770,610 |
| IRAs and Keogh plan accounts | $24,143 |
| Brokered deposits | $56,939 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $972,806 |
| Cash & Balances due from depository institutions | $29,151 |
| Interest-bearing balances | $19,326 |
| Total securities | $109,132 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $781,524 |
| Loan and leases loss allowance | $6,837 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $19,558 |
| Other real estate owned | $29 |
| Goodwill and other intangibles | $2,728 |
| All other assets | $30,684 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $972,806 |
| Total Liabilities | $887,716 |
| Total deposits | $855,857 |
| Interest-bearing deposits | $714,488 |
| Deposits held in domestic offices | $855,857 |
| % insured (estimated) | $74 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $25,569 |
| Subordinated debt | $0 |
| All other liabilities | $6,290 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $781,524 |
| Loan and leases loss allowance | $6,837 |
| Total loans and leases (domestic) | $788,361 |
| All real estate loans | $672,306 |
| Real estate loans in domestic offices | $672,306 |
| Construction and development loans | $37,653 |
| Residential 1-4 family construction | $9,370 |
| Other construction, all land development and other land | $28,283 |
| Loans secured by nonfarm nonresidential properties | $236,777 |
| Nonfarm nonresidential secured by owner-occupied properties | $105,462 |
| Commercial real estate & other non-farm, non-residential | $131,315 |
| Multifamily residential real estate | $26,869 |
| 1-4 family residential loans | $370,792 |
| Farmland loans | $215 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $113,721 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,849 |
| Credit card loans | $0 |
| Related Plans | $48 |
| Consumer Auto Loans | $26 |
| Other loans to individuals | $1,775 |
| All other loans & leases | $485 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $485 |
| 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 | $11,746 |
| Non 1-4 family restructured loans & leases | $7,888 |
| Total loans and leases (foreign) | $0 |
Fidelity Co-operative Bank had $781,524,000 of loans outstanding in 2019. $672,306,000 of loans were in real estate loans. $37,653,000 of loans were in development loans. $26,869,000 of loans were in multifamily mortgage loans. $370,792,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $26,000 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 | 177 | $48,221 | $272,435 |
| Nonfarm, nonresidential loans - <$100k | 21 | $1,184 | $56,381 |
| Nonfarm, nonresidential loans - $100-250k | 61 | $8,506 | $139,443 |
| Nonfarm, nonresidential loans - $250k-1MM | 95 | $38,531 | $405,589 |
| Commercial & Industrial, US addressed loans - <$1MM | 388 | $41,577 | $107,157 |
| Commercial & Industrial, US addressed loans - <$100k | 215 | $6,825 | $31,744 |
| Commercial & Industrial, US addressed loans - $100-250k | 74 | $7,760 | $104,865 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 99 | $26,992 | $272,646 |
| Farmland loans - <$1MM | 1 | $215 | $215,000 |
| Farmland loans - $250k-1MM | 1 | $215 | $215,000 |