Guilford Savings Bank The Mortgage Rates, Fees & Info

Guilford, CT

LEI: 5493006RLUL4IL56SC31

Tax ID: 06-0377390

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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, Refi, 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 Torrington among others. We have data for 5 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

    325

    Origination Dollar Volume (All Markets)

    $107,255,000

    Employee count

    139

    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) 211 $69,725,000 $330,450 $0 0.00%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 87 $26,555,000 $305,230 $0 0.00%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 12 $6,500,000 $541,667 $0 0.00%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 13 $4,105,000 $315,769 $0 0.00%
    Torrington, CT (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
    Guilford Savings Bank The's top markets include New Haven, Hartford, Bridgeport, Norwich, and Torrington among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 325 $107,255,000 $330,015 $0 0.00%

    For 2021, Guilford Savings Bank The's most frequently originated type of loan was Conventional, with 325 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 113 $47,475,000 $420,133 $0 0.00%
    Refi 97 $29,685,000 $306,031 $0 0.00%
    Cash Out Refi 90 $24,230,000 $269,222 $0 0.00%
    Other 19 $4,225,000 $222,368 $0 0.00%
    Home Improvement 6 $1,640,000 $273,333 $0 0.00%

    For 2021, Guilford Savings Bank The's most frequently cited loan purpose was Home Purchase, with 113 originations. The 2nd most popular reason was Refi, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 325 $107,255,000 $330,015 $0 0.00%

    For 2021, Guilford Savings Bank The's most frequently cited loan duration was Other, with 325 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 138 $38,560,000 $279,420 $0 0.00%
    $100k-200k 62 $9,300,000 $150,000 $0 0.00%
    $400k-600k 55 $25,785,000 $468,818 $0 0.00%
    $100,000 or less 34 $2,040,000 $60,000 $0 0.00%
    $600k-1MM 26 $18,650,000 $717,308 $0 0.00%
    $1MM+ 10 $12,920,000 $1,292,000 $0 0.00%

    2021 saw Guilford Savings Bank The place emphasis on $200k-400k loans with 138 originations, totaling $38,560,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 77 $27,075,000 $351,623 $0 0.00%
    $100k-150k 76 $18,420,000 $242,368 $0 0.00%
    $250k+ 59 $35,705,000 $605,169 $0 0.00%
    $75k-100k 43 $10,095,000 $234,767 $0 0.00%
    $50k-75k 34 $5,660,000 $166,471 $0 0.00%
    $50k or less 16 $2,030,000 $126,875 $0 0.00%

    Guilford Savings Bank The lent most frequently to those with incomes in the $150k-250k range, with 77 originations. The second most popular income band? $100k-150k, with 76 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 325 $107,255,000 $330,015 $0 0.00%

    Guilford Savings Bank The lent most frequently to those with DTI ratios of Exempt%, with 325 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 209 $65,315,000 $312,512 $0 0.00%
    Not provided 89 $31,195,000 $350,506 $0 0.00%
    Not applicable 20 $8,270,000 $413,500 $0 0.00%
    Asian Indian 3 $1,165,000 $388,333 $0 0.00%
    Asian 3 $1,105,000 $368,333 $0 0.00%
    Black 1 $205,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.79%

    Guilford Savings Bank The has an average approval rate.

    Pick Rate

    Approvals leading to origination
    69.54%

    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 325 $107,255,000 $330,015

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    325 $107,255,000 $330,015

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Guilford Savings Bank 1 Park St Guilford, CT 6437 Full Service B&M $381,922
    The Guilford Savings Bank 158 Washington Avenue North Haven, CT 6437 Full Service B&M $5,388
    The Guilford Savings Bank 494 Old Toll Road Madison, CT 6443 Full Service B&M $46,678
    The Guilford Savings Bank 589 Boston Post Road Madison, CT 6443 Full Service B&M $110,617
    The Guilford Savings Bank 61 North Main Street Branford, CT 6405 Full Service B&M $151,722
    The Guilford Savings Bank 625 Boston Post Road Guilford, CT 6437 Full Service B&M $90,597
    The Guilford Savings Bank 840 Boston Post Road Old Saybrook, CT 6475 Full Service B&M $72,375

    For 2021, Guilford Savings Bank The had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,233
    Net interest income $27,662
    Total noninterest income $6,102
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $418
    Trading account gains and fees $0
    Additional Noninterest Income $5,684
    Pre-tax net operating income $8,373
    Securities gains (or losses, -) $860
    Income before extraordinary items $7,520
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,520
    Minority interest net income $0
    Net income $7,520
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,823

    Guilford Savings Bank The's gross interest income from loans was $31,233,000.
    Guilford Savings Bank The's net interest income from loans was $27,662,000.
    Guilford Savings Bank The's fee based income from loans was $418,000.
    Guilford Savings Bank The's net income from loans was $7,520,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,571
    Provision for credit losses $10
    Total noninterest expense $25,381
    Salaries and employee benefits $15,730
    Premises and equipment expense $2,646
    Additional noninterest expense $7,005
    Applicable income taxes $1,713
    Net charge-offs $76
    Cash dividends $0

    Guilford Savings Bank The's interest expense for loans was $3,571,000.
    Guilford Savings Bank The's payroll and benefits expense were $15,730,000.
    Guilford Savings Bank The's property, plant and equipment expenses $2,646,000.

    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 2.0%
    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 $887,143
    Deposits held in domestic offices $887,143
    Deposits by Individuals, partnerships, and corporations $884,224
    Deposits by U.S. Government $5
    Deposits by States and political subdivisions in the U.S. $2,915
    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 $68,805
    Demand deposits $68,805
    Nontransaction accounts $818,339
    Money market deposit accounts (MMDAs) $180,196
    Other savings deposits (excluding MMDAs) $423,500
    Total time deposits $214,643
    Total time and savings deposits $818,339
    Noninterest-bearing deposits $98,010
    Interest-bearing deposits $789,133
    Retail deposits $770,011
    IRAs and Keogh plan accounts $25,321
    Brokered deposits $80,981
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,024,762
    Cash & Balances due from depository institutions $53,058
    Interest-bearing balances $47,554
    Total securities $231,454
    Federal funds sold & reverse repurchase $0
    Net loans and leases $687,822
    Loan and leases loss allowance $7,708
    Trading account assets $0
    Bank premises and fixed assets $11,309
    Other real estate owned $0
    Goodwill and other intangibles $4,368
    All other assets $36,751

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,024,762
    Total Liabilities $910,144
    Total deposits $887,143
    Interest-bearing deposits $789,133
    Deposits held in domestic offices $887,143
    % insured (estimated) $73
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $15,536
    Subordinated debt $0
    All other liabilities $7,465

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $687,822
    Loan and leases loss allowance $7,708
    Total loans and leases (domestic) $695,530
    All real estate loans $670,720
    Real estate loans in domestic offices $670,720
    Construction and development loans $54,459
    Residential 1-4 family construction $18,717
    Other construction, all land development and other land $35,742
    Loans secured by nonfarm nonresidential properties $202,226
    Nonfarm nonresidential secured by owner-occupied properties $69,272
    Commercial real estate & other non-farm, non-residential $132,954
    Multifamily residential real estate $44,768
    1-4 family residential loans $369,267
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $23,705
    To non-U.S. addressees $0
    Loans to individuals $2,235
    Credit card loans $0
    Related Plans $29
    Consumer Auto Loans $34
    Other loans to individuals $2,172
    All other loans & leases $13
    Loans to foreign governments and official institutions $0
    Other loans $13
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $29
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $958
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Guilford Savings Bank The had $687,822,000 of loans outstanding in 2021. $670,720,000 of loans were in real estate loans. $54,459,000 of loans were in development loans. $44,768,000 of loans were in multifamily mortgage loans. $369,267,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $34,000 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 158 $47,991 $303,741
    Nonfarm, nonresidential loans - <$100k 11 $260 $23,636
    Nonfarm, nonresidential loans - $100-250k 44 $5,346 $121,500
    Nonfarm, nonresidential loans - $250k-1MM 103 $42,385 $411,505
    Commercial & Industrial, US addressed loans - <$1MM 239 $15,882 $66,452
    Commercial & Industrial, US addressed loans - <$100k 144 $3,740 $25,972
    Commercial & Industrial, US addressed loans - $100-250k 70 $7,129 $101,843
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $5,013 $200,520