Saco & Biddeford Savings Institution Mortgage Rates, Fees & Info
Saco, MELEI: 5493008KJFFG6PYZ5914
Tax ID: 01-0153690
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Mortgage Data
Bank Data
Review & Overview
Saco & Biddeford Savings Institution is a smaller mortgage company specializing in Home Purchase loans. Saco & Biddeford Savings Institution has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Lewiston, Augusta, and Boston among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Saco & Biddeford Savings Institution 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.00% | 11/21/24 |
| 30 Year Conventional Refi | 6.06% | 11/21/24 |
| 15 Year Conventional Purchase | 5.26% | 11/21/24 |
| 15 Year Conventional Refi | 5.35% | 11/21/24 |
| 15 Year Cash-out Refi | 5.35% | 11/21/24 |
| 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. | ||
Saco & Biddeford Savings Institution Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
430Origination Dollar Volume (All Markets)
$147,390,000Employee count
204Top 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 |
|---|---|---|---|---|---|
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 413 | $142,435,000 | $344,879 | $0 | 0.00% |
| Outside of Metro Areas | 9 | $2,395,000 | $266,111 | $0 | 0.00% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $0 | 0.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 3 | $735,000 | $245,000 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1 | $735,000 | $735,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Saco & Biddeford Savings Institution 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 | 430 | $147,390,000 | $342,767 | $0 | 0.00% |
For 2018, Saco & Biddeford Savings Institution's most frequently originated type of loan was Conventional, with 430 originations.
Loan Reason
For 2018, Saco & Biddeford Savings Institution's most frequently cited loan purpose was Home Purchase, with 312 originations. The 2nd most popular reason was Refi, with 96 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 430 | $147,390,000 | $342,767 | $0 | 0.00% |
For 2018, Saco & Biddeford Savings Institution's most frequently cited loan duration was Other, with 430 originations.
Loan Sizing
2018 saw Saco & Biddeford Savings Institution place emphasis on $200k-400k loans with 186 originations, totaling $51,850,000 in origination value.
Applicant Income
Saco & Biddeford Savings Institution lent most frequently to those with incomes in the $150k-250k range, with 93 originations. The second most popular income band? $250k+, with 87 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 430 | $147,390,000 | $342,767 | $0 | 0.00% |
Saco & Biddeford Savings Institution lent most frequently to those with DTI ratios of Exempt%, with 430 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.76%
Saco & Biddeford Savings Institution has an average approval rate.
Pick Rate
Approvals leading to origination76.51%
Saco & Biddeford Savings Institution has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 430 | $147,390,000 | $342,767 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Saco & Biddeford Savings Institution | 136 Commercial Street Portland, ME 4101 | Full Service B&M | $5,033 |
| Saco & Biddeford Savings Institution | 160 Shops Way Biddeford, ME 4005 | Full Service B&M | $35,380 |
| Saco & Biddeford Savings Institution | 2 Portland Avenue Old Orchard Beach, ME 4064 | Full Service B&M | $106,959 |
| Saco & Biddeford Savings Institution | 252 Main Street Saco, ME 4072 | Full Service B&M | $323,166 |
| Saco & Biddeford Savings Institution | 41 Gorham Road Scarborough, ME 4074 | Full Service B&M | $76,654 |
| Saco & Biddeford Savings Institution | 601 Broadway South Portland, ME 4106 | Full Service B&M | $59,410 |
| Saco & Biddeford Savings Institution | Hannaford Drive Westbrook, ME 4092 | Full Service B&M | $33,243 |
For 2018, Saco & Biddeford Savings Institution had 7 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $39,065 |
| Net interest income | $27,799 |
| Total noninterest income | $7,378 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $307 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $7,071 |
| Pre-tax net operating income | $7,637 |
| Securities gains (or losses, -) | $789 |
| Income before extraordinary items | $6,851 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $6,851 |
| Minority interest net income | $0 |
| Net income | $6,851 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $6,211 |
Saco & Biddeford Savings Institution's gross interest income from loans was $39,065,000.
Saco & Biddeford Savings Institution's net interest income from loans was $27,799,000.
Saco & Biddeford Savings Institution's fee based income from loans was $307,000.
Saco & Biddeford Savings Institution's net income from loans was $6,851,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $11,266 |
| Provision for credit losses | $30 |
| Total noninterest expense | $27,510 |
| Salaries and employee benefits | $18,244 |
| Premises and equipment expense | $3,042 |
| Additional noninterest expense | $6,224 |
| Applicable income taxes | $1,575 |
| Net charge-offs | $-6 |
| Cash dividends | $0 |
Saco & Biddeford Savings Institution's interest expense for loans was $11,266,000.
Saco & Biddeford Savings Institution's payroll and benefits expense were $18,244,000.
Saco & Biddeford Savings Institution's property, plant and equipment expenses $3,042,000.
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 | $658,316 |
| Deposits held in domestic offices | $658,316 |
| Deposits by Individuals, partnerships, and corporations | $613,682 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $21,683 |
| Deposits by Commercial banks and other depository institutions in U.S. | $22,951 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $129,639 |
| Demand deposits | $94,316 |
| Nontransaction accounts | $528,677 |
| Money market deposit accounts (MMDAs) | $186,474 |
| Other savings deposits (excluding MMDAs) | $10,691 |
| Total time deposits | $331,512 |
| Total time and savings deposits | $564,000 |
| Noninterest-bearing deposits | $94,561 |
| Interest-bearing deposits | $563,755 |
| Retail deposits | $533,748 |
| IRAs and Keogh plan accounts | $54,597 |
| Brokered deposits | $79,194 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $989,050 |
| Cash & Balances due from depository institutions | $15,014 |
| Interest-bearing balances | $8,367 |
| Total securities | $100,450 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $825,196 |
| Loan and leases loss allowance | $4,537 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $15,844 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $6,057 |
| All other assets | $26,489 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $989,049 |
| Total Liabilities | $878,150 |
| Total deposits | $658,316 |
| Interest-bearing deposits | $563,755 |
| Deposits held in domestic offices | $658,316 |
| % insured (estimated) | $91 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $212,942 |
| Subordinated debt | $0 |
| All other liabilities | $6,892 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $825,196 |
| Loan and leases loss allowance | $4,537 |
| Total loans and leases (domestic) | $829,733 |
| All real estate loans | $792,690 |
| Real estate loans in domestic offices | $792,690 |
| Construction and development loans | $38,254 |
| Residential 1-4 family construction | $21,973 |
| Other construction, all land development and other land | $16,281 |
| Loans secured by nonfarm nonresidential properties | $157,996 |
| Nonfarm nonresidential secured by owner-occupied properties | $45,014 |
| Commercial real estate & other non-farm, non-residential | $112,982 |
| Multifamily residential real estate | $25,767 |
| 1-4 family residential loans | $570,673 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $13,200 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $6,990 |
| Credit card loans | $0 |
| Related Plans | $21 |
| Consumer Auto Loans | $712 |
| Other loans to individuals | $6,257 |
| All other loans & leases | $16,852 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $879 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $1,183 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $121 |
| Non 1-4 family restructured loans & leases | $16 |
| Total loans and leases (foreign) | $0 |
Saco & Biddeford Savings Institution had $825,196,000 of loans outstanding in 2018. $792,690,000 of loans were in real estate loans. $38,254,000 of loans were in development loans. $25,767,000 of loans were in multifamily mortgage loans. $570,673,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $712,000 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 | 228 | $56,499 | $247,803 |
| Nonfarm, nonresidential loans - <$100k | 42 | $1,971 | $46,929 |
| Nonfarm, nonresidential loans - $100-250k | 71 | $8,652 | $121,859 |
| Nonfarm, nonresidential loans - $250k-1MM | 115 | $45,876 | $398,922 |
| Commercial & Industrial, US addressed loans - <$1MM | 219 | $12,990 | $59,315 |
| Commercial & Industrial, US addressed loans - <$100k | 154 | $3,176 | $20,623 |
| Commercial & Industrial, US addressed loans - $100-250k | 37 | $3,610 | $97,568 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 28 | $6,204 | $221,571 |