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 Refi, Home Purchase, and Cash Out Refi loans. Guilford Savings Bank The has a high proportion of conventional loans. Their top markets by origination volume include: New Haven, Hartford, Bridgeport, Norwich, and Worcester among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Guilford Savings Bank The has an above 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

    344

    Origination Dollar Volume (All Markets)

    $115,670,000

    Employee count

    119

    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) 251 $73,575,000 $293,127 $0 0.00%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 67 $22,915,000 $342,015 $0 0.00%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 15 $16,075,000 $1,071,667 $0 0.00%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 7 $2,315,000 $330,714 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $430,000 $215,000 $0 0.00%
    Outside of Metro Areas 2 $360,000 $180,000 $0 0.00%
    Guilford Savings Bank The's top markets include New Haven, Hartford, Bridgeport, Norwich, and Worcester among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 344 $115,670,000 $336,250 $0 0.00%

    For 2020, Guilford Savings Bank The's most frequently originated type of loan was Conventional, with 344 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 129 $38,515,000 $298,566 $0 0.00%
    Home Purchase 103 $38,805,000 $376,748 $0 0.00%
    Cash Out Refi 93 $35,655,000 $383,387 $0 0.00%
    Other 10 $680,000 $68,000 $0 0.00%
    Home Improvement 9 $2,015,000 $223,889 $0 0.00%

    For 2020, Guilford Savings Bank The's most frequently cited loan purpose was Refi, with 129 originations. The 2nd most popular reason was Home Purchase, with 103 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 344 $115,670,000 $336,250 $0 0.00%

    For 2020, Guilford Savings Bank The's most frequently cited loan duration was Other, with 344 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 167 $46,995,000 $281,407 $0 0.00%
    $100k-200k 71 $10,735,000 $151,197 $0 0.00%
    $400k-600k 50 $23,690,000 $473,800 $0 0.00%
    $100,000 or less 30 $1,760,000 $58,667 $0 0.00%
    $600k-1MM 19 $14,135,000 $743,947 $0 0.00%
    $1MM+ 7 $18,355,000 $2,622,143 $0 0.00%

    2020 saw Guilford Savings Bank The place emphasis on $200k-400k loans with 167 originations, totaling $46,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 94 $30,720,000 $326,809 $0 0.00%
    $100k-150k 80 $20,240,000 $253,000 $0 0.00%
    $250k+ 75 $33,075,000 $441,000 $0 0.00%
    $50k-75k 38 $7,030,000 $185,000 $0 0.00%
    $75k-100k 33 $6,455,000 $195,606 $0 0.00%
    $50k or less 12 $1,620,000 $135,000 $0 0.00%

    Guilford Savings Bank The lent most frequently to those with incomes in the $150k-250k range, with 94 originations. The second most popular income band? $100k-150k, with 80 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 344 $115,670,000 $336,250 $0 0.00%

    Guilford Savings Bank The lent most frequently to those with DTI ratios of Exempt%, with 344 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 252 $73,950,000 $293,452 $0 0.00%
    Not provided 72 $22,900,000 $318,056 $0 0.00%
    Not applicable 10 $16,300,000 $1,630,000 $0 0.00%
    Asian 6 $1,820,000 $303,333 $0 0.00%
    Chinese 1 $315,000 $315,000 $0 0.00%
    Black 1 $245,000 $245,000 $0 0.00%
    Asian Indian 1 $115,000 $115,000 $0 0.00%
    American Indian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.95%

    Guilford Savings Bank The has an average approval rate.

    Pick Rate

    Approvals leading to origination
    63.08%

    Guilford Savings Bank The has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 344 $115,670,000 $336,250

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $14,040,000 $2,340,000
    Single Family (1-4 Units):Site-Built 338 $101,630,000 $300,680

    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 $39,283
    The Guilford Savings Bank 589 Boston Post Road Madison, CT 6443 Full Service B&M $108,025
    The Guilford Savings Bank 61 North Main Street Branford, CT 6405 Full Service B&M $130,405
    The Guilford Savings Bank 625 Boston Post Road Guilford, CT 6437 Full Service B&M $88,211
    The Guilford Savings Bank 840 Boston Post Road Old Saybrook, CT 6475 Full Service B&M $56,818
    The Guilford Savings Bank One Park Street Guilford, CT 6437 Full Service B&M $348,883

    For 2020, Guilford Savings Bank The had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,287
    Net interest income $26,353
    Total noninterest income $4,764
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $422
    Trading account gains and fees $0
    Additional Noninterest Income $4,342
    Pre-tax net operating income $7,373
    Securities gains (or losses, -) $253
    Income before extraordinary items $6,243
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,243
    Minority interest net income $0
    Net income $6,243
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,035

    Guilford Savings Bank The's gross interest income from loans was $31,287,000.
    Guilford Savings Bank The's net interest income from loans was $26,353,000.
    Guilford Savings Bank The's fee based income from loans was $422,000.
    Guilford Savings Bank The's net income from loans was $6,243,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,934
    Provision for credit losses $1,709
    Total noninterest expense $22,035
    Salaries and employee benefits $14,050
    Premises and equipment expense $2,293
    Additional noninterest expense $5,692
    Applicable income taxes $1,383
    Net charge-offs $295
    Cash dividends $0

    Guilford Savings Bank The's interest expense for loans was $4,934,000.
    Guilford Savings Bank The's payroll and benefits expense were $14,050,000.
    Guilford Savings Bank The's property, plant and equipment expenses $2,293,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    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 $798,539
    Deposits held in domestic offices $798,539
    Deposits by Individuals, partnerships, and corporations $795,794
    Deposits by U.S. Government $6
    Deposits by States and political subdivisions in the U.S. $2,739
    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 $61,688
    Demand deposits $61,688
    Nontransaction accounts $736,851
    Money market deposit accounts (MMDAs) $169,151
    Other savings deposits (excluding MMDAs) $370,933
    Total time deposits $196,767
    Total time and savings deposits $736,851
    Noninterest-bearing deposits $81,996
    Interest-bearing deposits $716,543
    Retail deposits $696,844
    IRAs and Keogh plan accounts $26,894
    Brokered deposits $59,985
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $970,977
    Cash & Balances due from depository institutions $68,602
    Interest-bearing balances $63,129
    Total securities $162,121
    Federal funds sold & reverse repurchase $0
    Net loans and leases $686,332
    Loan and leases loss allowance $7,774
    Trading account assets $0
    Bank premises and fixed assets $11,255
    Other real estate owned $0
    Goodwill and other intangibles $4,516
    All other assets $38,151

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $970,977
    Total Liabilities $863,436
    Total deposits $798,539
    Interest-bearing deposits $716,543
    Deposits held in domestic offices $798,539
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $46,565
    Subordinated debt $0
    All other liabilities $18,332

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $686,332
    Loan and leases loss allowance $7,774
    Total loans and leases (domestic) $694,106
    All real estate loans $640,291
    Real estate loans in domestic offices $640,291
    Construction and development loans $60,831
    Residential 1-4 family construction $7,552
    Other construction, all land development and other land $53,279
    Loans secured by nonfarm nonresidential properties $185,807
    Nonfarm nonresidential secured by owner-occupied properties $66,074
    Commercial real estate & other non-farm, non-residential $119,733
    Multifamily residential real estate $42,872
    1-4 family residential loans $350,781
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $51,962
    To non-U.S. addressees $0
    Loans to individuals $3,455
    Credit card loans $0
    Related Plans $29
    Consumer Auto Loans $36
    Other loans to individuals $3,390
    All other loans & leases $9
    Loans to foreign governments and official institutions $0
    Other loans $9
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $298
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,420
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Guilford Savings Bank The had $686,332,000 of loans outstanding in 2020. $640,291,000 of loans were in real estate loans. $60,831,000 of loans were in development loans. $42,872,000 of loans were in multifamily mortgage loans. $350,781,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $36,000 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 $50,580 $308,415
    Nonfarm, nonresidential loans - <$100k 10 $533 $53,300
    Nonfarm, nonresidential loans - $100-250k 47 $6,042 $128,553
    Nonfarm, nonresidential loans - $250k-1MM 107 $44,005 $411,262
    Commercial & Industrial, US addressed loans - <$1MM 516 $36,233 $70,219
    Commercial & Industrial, US addressed loans - <$100k 361 $11,110 $30,776
    Commercial & Industrial, US addressed loans - $100-250k 111 $12,703 $114,441
    Commercial & Industrial, US addressed loans - $250k-1MM 44 $12,420 $282,273