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 Refi, Cash Out Refi, and 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: Worcester, Boston, Manchester, Barnstable Town, and Springfield among others. We have data for 14 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% | 11/23/24 |
| 30 Year Conventional Purchase | 5.95% | 11/23/24 |
| 30 Year Conventional Refi | 6.34% | 11/23/24 |
| 30 Year Cash-out Refi | 6.74% | 11/23/24 |
| 30 Year FHA Purchase | 6.27% | 11/23/24 |
| 15 Year Conventional Purchase | 4.87% | 11/23/24 |
| 15 Year Conventional Refi | 5.94% | 11/23/24 |
| 15 Year Cash-out Refi | 5.94% | 11/23/24 |
| 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
728Origination Dollar Volume (All Markets)
$196,990,000Employee count
154Top 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) | 495 | $116,975,000 | $236,313 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 175 | $62,815,000 | $358,943 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 14 | $4,390,000 | $313,571 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 12 | $3,580,000 | $298,333 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 12 | $2,240,000 | $186,667 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 4 | $2,060,000 | $515,000 | $0 | 0.00% |
| Keene, NH (FHA|USDA|VA) | 7 | $1,575,000 | $225,000 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $1,460,000 | $730,000 | $0 | 0.00% |
| Vineyard Haven, MA (FHA|USDA|VA) | 2 | $890,000 | $445,000 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $0 | 0.00% |
| Laconia, NH (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $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 | 727 | $196,735,000 | $270,612 | $0 | 0.00% |
| USDA | 1 | $255,000 | $255,000 | $0 | 0.00% |
For 2020, Fidelity Co-operative Bank's most frequently originated type of loan was Conventional, with 727 originations. Their 2nd most popular type was USDA, with 1 originations.
Loan Reason
For 2020, Fidelity Co-operative Bank's most frequently cited loan purpose was Refi, with 337 originations. The 2nd most popular reason was Cash Out Refi, with 200 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 728 | $196,990,000 | $270,591 | $0 | 0.00% |
For 2020, Fidelity Co-operative Bank's most frequently cited loan duration was Other, with 728 originations.
Loan Sizing
2020 saw Fidelity Co-operative Bank place emphasis on $200k-400k loans with 344 originations, totaling $95,940,000 in origination value.
Applicant Income
Fidelity Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 191 originations. The second most popular income band? $50k-75k, with 152 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 728 | $196,990,000 | $270,591 | $0 | 0.00% |
Fidelity Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 728 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications85.82%
Fidelity Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination77.34%
Fidelity Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 728 | $196,990,000 | $270,591 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $185,000 | $185,000 |
| Single Family (1-4 Units):Site-Built | 727 | $196,805,000 | $270,708 |
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Fidelity National Financial, Inc | Conventional home mortgage | Closing on a mortgage | 8 | 53.3% |
| Fidelity National Financial, Inc | Conventional home mortgage | Incorrect information on your report | 1 | 6.7% |
| Fidelity National Financial, Inc | Conventional home mortgage | Problem with a credit reporting company's investigation into an existing problem | 1 | 6.7% |
| Fidelity National Financial, Inc | Conventional home mortgage | Struggling to pay mortgage | 1 | 6.7% |
| Fidelity National Financial, Inc | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 2 | 13.3% |
| Fidelity National Financial, Inc | Other type of mortgage | Closing on a mortgage | 1 | 6.7% |
| Fidelity National Financial, Inc | VA mortgage | Closing on a mortgage | 1 | 6.7% |
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 | $29,938 |
| Fidelity Co-Operative Bank | 129 Chestnut Street Needham, MA 2492 | Full Service B&M | $43,509 |
| Fidelity Co-Operative Bank | 130 Whalon Street Fitchburg, MA 1420 | Full Service B&M | $75,352 |
| Fidelity Co-Operative Bank | 149 Great Road Stow, MA 1775 | Full Service B&M | $20,168 |
| Fidelity Co-Operative Bank | 153 Front Street Worcester, MA 1608 | Full Service B&M | $56,039 |
| Fidelity Co-Operative Bank | 16 South Main Street Millbury, MA 1527 | Full Service B&M | $59,834 |
| Fidelity Co-Operative Bank | 206 Worcester Road Princeton, MA 1541 | Full Service B&M | $23,891 |
| Fidelity Co-Operative Bank | 21 Main Street Shirley, MA 1464 | Full Service B&M | $71,284 |
| Fidelity Co-Operative Bank | 465 Shrewsbury Street Worcester, MA 1604 | Full Service B&M | $128,976 |
| Fidelity Co-Operative Bank | 56 Common St Barre, MA 1005 | Full Service B&M | $66,945 |
| Fidelity Co-Operative Bank | 6 City Hall Avenue Gardner, MA 1440 | Full Service B&M | $93,568 |
| Fidelity Co-Operative Bank | 713 Pleasant Street Paxton, MA 1612 | Full Service B&M | $38,257 |
| Fidelity Co-Operative Bank | 75 Main St Leominster, MA 1453 | Full Service B&M | $100,549 |
| Fidelity Co-Operative Bank | 9 Leominster Connector Leominster, MA 1453 | Full Service Cyber Office | $558 |
| Fidelity Co-Operative Bank | 9 Leominster Connector Leominster, MA 1453 | Full Service B&M | $158,928 |
For 2020, Fidelity Co-operative Bank had 15 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $42,420 |
| Net interest income | $36,201 |
| Total noninterest income | $10,818 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $888 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $9,930 |
| Pre-tax net operating income | $-2,788 |
| Securities gains (or losses, -) | $996 |
| Income before extraordinary items | $239 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $239 |
| Minority interest net income | $0 |
| Net income | $239 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $-547 |
Fidelity Co-operative Bank's gross interest income from loans was $42,420,000.
Fidelity Co-operative Bank's net interest income from loans was $36,201,000.
Fidelity Co-operative Bank's fee based income from loans was $888,000.
Fidelity Co-operative Bank's net income from loans was $239,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,219 |
| Provision for credit losses | $4,394 |
| Total noninterest expense | $45,413 |
| Salaries and employee benefits | $17,987 |
| Premises and equipment expense | $3,038 |
| Additional noninterest expense | $24,388 |
| Applicable income taxes | $-2,031 |
| Net charge-offs | $81 |
| Cash dividends | $250 |
Fidelity Co-operative Bank's interest expense for loans was $6,219,000.
Fidelity Co-operative Bank's payroll and benefits expense were $17,987,000.
Fidelity Co-operative Bank's property, plant and equipment expenses $3,038,000.
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 | 1.0% |
| 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 | $958,535 |
| Deposits held in domestic offices | $958,535 |
| Deposits by Individuals, partnerships, and corporations | $830,244 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $120,952 |
| Deposits by Commercial banks and other depository institutions in U.S. | $7,339 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $77,005 |
| Demand deposits | $60,591 |
| Nontransaction accounts | $881,530 |
| Money market deposit accounts (MMDAs) | $230,069 |
| Other savings deposits (excluding MMDAs) | $494,308 |
| Total time deposits | $157,153 |
| Total time and savings deposits | $897,944 |
| Noninterest-bearing deposits | $214,926 |
| Interest-bearing deposits | $743,609 |
| Retail deposits | $916,016 |
| IRAs and Keogh plan accounts | $25,447 |
| Brokered deposits | $17,611 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,112,730 |
| Cash & Balances due from depository institutions | $36,308 |
| Interest-bearing balances | $24,806 |
| Total securities | $160,030 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $852,897 |
| Loan and leases loss allowance | $11,150 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $20,816 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $3,252 |
| All other assets | $39,427 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,112,730 |
| Total Liabilities | $1,016,969 |
| Total deposits | $958,535 |
| Interest-bearing deposits | $743,609 |
| Deposits held in domestic offices | $958,535 |
| % insured (estimated) | $68 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $48,494 |
| Subordinated debt | $0 |
| All other liabilities | $9,940 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $852,897 |
| Loan and leases loss allowance | $11,150 |
| Total loans and leases (domestic) | $864,047 |
| All real estate loans | $700,130 |
| Real estate loans in domestic offices | $700,130 |
| Construction and development loans | $45,297 |
| Residential 1-4 family construction | $8,423 |
| Other construction, all land development and other land | $36,874 |
| Loans secured by nonfarm nonresidential properties | $247,224 |
| Nonfarm nonresidential secured by owner-occupied properties | $104,330 |
| Commercial real estate & other non-farm, non-residential | $142,894 |
| Multifamily residential real estate | $36,171 |
| 1-4 family residential loans | $371,229 |
| Farmland loans | $209 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $160,881 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,602 |
| Credit card loans | $0 |
| Related Plans | $26 |
| Consumer Auto Loans | $588 |
| Other loans to individuals | $1,988 |
| All other loans & leases | $433 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $433 |
| 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 | $11,486 |
| Non 1-4 family restructured loans & leases | $7,188 |
| Total loans and leases (foreign) | $0 |
Fidelity Co-operative Bank had $852,897,000 of loans outstanding in 2020. $700,130,000 of loans were in real estate loans. $45,297,000 of loans were in development loans. $36,171,000 of loans were in multifamily mortgage loans. $371,229,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $588,000 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 | 166 | $46,106 | $277,747 |
| Nonfarm, nonresidential loans - <$100k | 17 | $911 | $53,588 |
| Nonfarm, nonresidential loans - $100-250k | 57 | $8,119 | $142,439 |
| Nonfarm, nonresidential loans - $250k-1MM | 92 | $37,076 | $403,000 |
| Commercial & Industrial, US addressed loans - <$1MM | 799 | $88,579 | $110,862 |
| Commercial & Industrial, US addressed loans - <$100k | 460 | $13,666 | $29,709 |
| Commercial & Industrial, US addressed loans - $100-250k | 180 | $24,320 | $135,111 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 159 | $50,593 | $318,195 |
| Farmland loans - <$1MM | 1 | $209 | $209,000 |
| Farmland loans - $250k-1MM | 1 | $209 | $209,000 |