Guilford Savings Bank The Mortgage Rates, Fees & Info

Guilford, CT

LEI: 5493006RLUL4IL56SC31

Tax ID: 06-0377390

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Guilford Savings Bank The is a smaller bank specializing in Home Purchase loans. Guilford Savings Bank The has a high proportion of conventional loans. Their top markets by origination volume include: New Haven, Bridgeport, Hartford, and Norwich among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Guilford Savings Bank The 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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    Originations

    214

    Origination Dollar Volume (All Markets)

    $72,330,000

    Employee count

    117

    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
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 146 $34,930,000 $239,247 $0 0.00%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 17 $18,995,000 $1,117,353 $0 0.00%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 42 $14,430,000 $343,571 $0 0.00%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 9 $3,975,000 $441,667 $0 0.00%
    Guilford Savings Bank The's top markets include New Haven, Bridgeport, Hartford, and Norwich among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 214 $72,330,000 $337,991 $0 0.00%

    For 2018, Guilford Savings Bank The's most frequently originated type of loan was Conventional, with 214 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 121 $41,505,000 $343,017 $0 0.00%
    Cash Out Refi 71 $10,115,000 $142,465 $0 0.00%
    Refi 15 $5,085,000 $339,000 $0 0.00%
    Home Improvement 4 $5,770,000 $1,442,500 $0 0.00%
    NA 2 $850,000 $425,000 $0 0.00%
    Other 1 $9,005,000 $9,005,000 $0 0.00%

    For 2018, Guilford Savings Bank The's most frequently cited loan purpose was Home Purchase, with 121 originations. The 2nd most popular reason was Cash Out Refi, with 71 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 214 $72,330,000 $337,991 $0 0.00%

    For 2018, Guilford Savings Bank The's most frequently cited loan duration was Other, with 214 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 81 $22,905,000 $282,778 $0 0.00%
    $100k-200k 52 $7,800,000 $150,000 $0 0.00%
    $100,000 or less 41 $1,905,000 $46,463 $0 0.00%
    $400k-600k 19 $9,175,000 $482,895 $0 0.00%
    $600k-1MM 15 $11,545,000 $769,667 $0 0.00%
    $1MM+ 6 $19,000,000 $3,166,667 $0 0.00%

    2018 saw Guilford Savings Bank The place emphasis on $200k-400k loans with 81 originations, totaling $22,905,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 53 $10,935,000 $206,321 $0 0.00%
    $150k-250k 49 $14,875,000 $303,571 $0 0.00%
    $250k+ 31 $16,355,000 $527,581 $0 0.00%
    $50k-75k 29 $3,695,000 $127,414 $0 0.00%
    $75k-100k 29 $4,405,000 $151,897 $0 0.00%
    $50k or less 10 $1,540,000 $154,000 $0 0.00%

    Guilford Savings Bank The lent most frequently to those with incomes in the $100k-150k range, with 53 originations. The second most popular income band? $150k-250k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 214 $72,330,000 $337,991 $0 0.00%

    Guilford Savings Bank The lent most frequently to those with DTI ratios of Exempt%, with 214 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 161 $41,845,000 $259,907 $0 0.00%
    Not applicable 12 $20,020,000 $1,668,333 $0 0.00%
    Not provided 34 $9,040,000 $265,882 $0 0.00%
    Black 3 $785,000 $261,667 $0 0.00%
    Asian 3 $435,000 $145,000 $0 0.00%
    Asian Indian 1 $205,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.65%

    Guilford Savings Bank The has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.64%

    Guilford Savings Bank The has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 214 $72,330,000 $337,991

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $18,325,000 $2,617,857
    Single Family (1-4 Units):Site-Built 207 $54,005,000 $260,894

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Guilford Savings Bank 494 Old Toll Road Madison, CT 6443 Full Service B&M $33,434
    The Guilford Savings Bank 589 Boston Post Road Madison, CT 6443 Full Service B&M $91,020
    The Guilford Savings Bank 61 North Main Street Branford, CT 6405 Full Service B&M $84,136
    The Guilford Savings Bank 625 Boston Post Road Guilford, CT 6437 Full Service B&M $72,473
    The Guilford Savings Bank 840 Boston Post Road Old Saybrook, CT 6475 Full Service B&M $40,147
    The Guilford Savings Bank One Park Street Guilford, CT 6437 Full Service B&M $263,999

    For 2018, Guilford Savings Bank The had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $28,129
    Net interest income $23,663
    Total noninterest income $3,856
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $513
    Trading account gains and fees $0
    Additional Noninterest Income $3,343
    Pre-tax net operating income $6,756
    Securities gains (or losses, -) $526
    Income before extraordinary items $6,068
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,068
    Minority interest net income $0
    Net income $6,068
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,631

    Guilford Savings Bank The's gross interest income from loans was $28,129,000.
    Guilford Savings Bank The's net interest income from loans was $23,663,000.
    Guilford Savings Bank The's fee based income from loans was $513,000.
    Guilford Savings Bank The's net income from loans was $6,068,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,466
    Provision for credit losses $326
    Total noninterest expense $20,437
    Salaries and employee benefits $11,840
    Premises and equipment expense $2,233
    Additional noninterest expense $6,364
    Applicable income taxes $1,214
    Net charge-offs $-57
    Cash dividends $0

    Guilford Savings Bank The's interest expense for loans was $4,466,000.
    Guilford Savings Bank The's payroll and benefits expense were $11,840,000.
    Guilford Savings Bank The's property, plant and equipment expenses $2,233,000.

    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 $623,673
    Deposits held in domestic offices $623,673
    Deposits by Individuals, partnerships, and corporations $620,771
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2,902
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $43,849
    Demand deposits $43,849
    Nontransaction accounts $579,824
    Money market deposit accounts (MMDAs) $145,582
    Other savings deposits (excluding MMDAs) $256,845
    Total time deposits $177,398
    Total time and savings deposits $579,824
    Noninterest-bearing deposits $75,389
    Interest-bearing deposits $548,284
    Retail deposits $557,818
    IRAs and Keogh plan accounts $30,031
    Brokered deposits $21,944
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $787,149
    Cash & Balances due from depository institutions $49,954
    Interest-bearing balances $45,232
    Total securities $110,825
    Federal funds sold & reverse repurchase $0
    Net loans and leases $579,201
    Loan and leases loss allowance $5,856
    Trading account assets $0
    Bank premises and fixed assets $11,970
    Other real estate owned $0
    Goodwill and other intangibles $2,431
    All other assets $32,768

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $787,149
    Total Liabilities $691,791
    Total deposits $623,673
    Interest-bearing deposits $548,284
    Deposits held in domestic offices $623,673
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $62,621
    Subordinated debt $0
    All other liabilities $5,497

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $579,201
    Loan and leases loss allowance $5,856
    Total loans and leases (domestic) $585,057
    All real estate loans $559,073
    Real estate loans in domestic offices $559,073
    Construction and development loans $51,640
    Residential 1-4 family construction $12,946
    Other construction, all land development and other land $38,694
    Loans secured by nonfarm nonresidential properties $143,577
    Nonfarm nonresidential secured by owner-occupied properties $37,524
    Commercial real estate & other non-farm, non-residential $106,053
    Multifamily residential real estate $22,980
    1-4 family residential loans $340,876
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $18,125
    To non-U.S. addressees $0
    Loans to individuals $8,068
    Credit card loans $0
    Related Plans $38
    Consumer Auto Loans $22
    Other loans to individuals $8,008
    All other loans & leases $63
    Loans to foreign governments and official institutions $0
    Other loans $63
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $463
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,140
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Guilford Savings Bank The had $579,201,000 of loans outstanding in 2018. $559,073,000 of loans were in real estate loans. $51,640,000 of loans were in development loans. $22,980,000 of loans were in multifamily mortgage loans. $340,876,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $22,000 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 201 $58,173 $289,418
    Nonfarm, nonresidential loans - <$100k 30 $1,039 $34,633
    Nonfarm, nonresidential loans - $100-250k 60 $8,730 $145,500
    Nonfarm, nonresidential loans - $250k-1MM 111 $48,404 $436,072
    Commercial & Industrial, US addressed loans - <$1MM 200 $12,931 $64,655
    Commercial & Industrial, US addressed loans - <$100k 139 $3,330 $23,957
    Commercial & Industrial, US addressed loans - $100-250k 46 $4,596 $99,913
    Commercial & Industrial, US addressed loans - $250k-1MM 15 $5,005 $333,667