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 Refi and Home Purchase loans. Saco & Biddeford Savings Institution has a high proportion of conventional loans. Their top markets by origination volume include: Portland, Lewiston, and Augusta among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Saco & Biddeford Savings Institution 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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.00% | 4/21/24 |
| 30 Year Conventional Refi | 6.06% | 4/21/24 |
| 15 Year Conventional Purchase | 5.26% | 4/21/24 |
| 15 Year Conventional Refi | 5.35% | 4/21/24 |
| 15 Year Cash-out Refi | 5.35% | 4/21/24 |
| 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
547Origination Dollar Volume (All Markets)
$210,265,000Employee count
191Top 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) | 527 | $202,605,000 | $384,450 | $0 | 0.00% |
| Outside of Metro Areas | 16 | $6,510,000 | $406,875 | $0 | 0.00% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $0 | 0.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $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 | 547 | $210,265,000 | $384,397 | $0 | 0.00% |
For 2020, Saco & Biddeford Savings Institution's most frequently originated type of loan was Conventional, with 547 originations.
Loan Reason
For 2020, Saco & Biddeford Savings Institution's most frequently cited loan purpose was Refi, with 311 originations. The 2nd most popular reason was Home Purchase, with 221 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 547 | $210,265,000 | $384,397 | $0 | 0.00% |
For 2020, Saco & Biddeford Savings Institution's most frequently cited loan duration was Other, with 547 originations.
Loan Sizing
2020 saw Saco & Biddeford Savings Institution place emphasis on $200k-400k loans with 221 originations, totaling $62,975,000 in origination value.
Applicant Income
Saco & Biddeford Savings Institution lent most frequently to those with incomes in the $250k+ range, with 130 originations. The second most popular income band? $100k-150k, with 120 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 547 | $210,265,000 | $384,397 | $0 | 0.00% |
Saco & Biddeford Savings Institution lent most frequently to those with DTI ratios of Exempt%, with 547 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.09%
Saco & Biddeford Savings Institution has an average approval rate.
Pick Rate
Approvals leading to origination74.22%
Saco & Biddeford Savings Institution has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 547 | $210,265,000 | $384,397 |
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 | $31,240 |
| Saco & Biddeford Savings Institution | 160 Shops Way Biddeford, ME 4005 | Full Service B&M | $45,168 |
| Saco & Biddeford Savings Institution | 2 Portland Avenue Old Orchard Beach, ME 4064 | Full Service B&M | $129,720 |
| Saco & Biddeford Savings Institution | 252 Main Street Saco, ME 4072 | Full Service B&M | $389,234 |
| Saco & Biddeford Savings Institution | 41 Gorham Road Scarborough, ME 4074 | Full Service B&M | $86,035 |
| Saco & Biddeford Savings Institution | 601 Broadway South Portland, ME 4106 | Full Service B&M | $61,319 |
| Saco & Biddeford Savings Institution | Hannaford Drive, 2 Hannaford Drive Westbrook, ME 4092 | Full Service B&M | $39,373 |
For 2020, Saco & Biddeford Savings Institution had 7 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $39,893 |
| Net interest income | $27,922 |
| Total noninterest income | $8,343 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $203 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $8,140 |
| Pre-tax net operating income | $6,547 |
| Securities gains (or losses, -) | $742 |
| Income before extraordinary items | $5,964 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $5,964 |
| Minority interest net income | $0 |
| Net income | $5,964 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $5,355 |
Saco & Biddeford Savings Institution's gross interest income from loans was $39,893,000.
Saco & Biddeford Savings Institution's net interest income from loans was $27,922,000.
Saco & Biddeford Savings Institution's fee based income from loans was $203,000.
Saco & Biddeford Savings Institution's net income from loans was $5,964,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $11,971 |
| Provision for credit losses | $500 |
| Total noninterest expense | $29,218 |
| Salaries and employee benefits | $19,636 |
| Premises and equipment expense | $3,266 |
| Additional noninterest expense | $6,316 |
| Applicable income taxes | $1,325 |
| Net charge-offs | $144 |
| Cash dividends | $0 |
Saco & Biddeford Savings Institution's interest expense for loans was $11,971,000.
Saco & Biddeford Savings Institution's payroll and benefits expense were $19,636,000.
Saco & Biddeford Savings Institution's property, plant and equipment expenses $3,266,000.
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 | $816,221 |
| Deposits held in domestic offices | $816,221 |
| Deposits by Individuals, partnerships, and corporations | $747,739 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $30,085 |
| Deposits by Commercial banks and other depository institutions in U.S. | $38,397 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $175,935 |
| Demand deposits | $130,358 |
| Nontransaction accounts | $640,286 |
| Money market deposit accounts (MMDAs) | $282,021 |
| Other savings deposits (excluding MMDAs) | $11,600 |
| Total time deposits | $346,665 |
| Total time and savings deposits | $685,863 |
| Noninterest-bearing deposits | $131,351 |
| Interest-bearing deposits | $684,870 |
| Retail deposits | $676,724 |
| IRAs and Keogh plan accounts | $50,059 |
| Brokered deposits | $91,832 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,105,702 |
| Cash & Balances due from depository institutions | $28,799 |
| Interest-bearing balances | $22,514 |
| Total securities | $151,435 |
| Federal funds sold & reverse repurchase | $2,277 |
| Net loans and leases | $878,506 |
| Loan and leases loss allowance | $4,956 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $15,701 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $5,077 |
| All other assets | $23,907 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,105,702 |
| Total Liabilities | $983,033 |
| Total deposits | $816,221 |
| Interest-bearing deposits | $684,870 |
| Deposits held in domestic offices | $816,221 |
| % insured (estimated) | $84 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $151,711 |
| Subordinated debt | $0 |
| All other liabilities | $15,101 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $878,506 |
| Loan and leases loss allowance | $4,956 |
| Total loans and leases (domestic) | $883,462 |
| All real estate loans | $835,057 |
| Real estate loans in domestic offices | $835,057 |
| Construction and development loans | $47,223 |
| Residential 1-4 family construction | $18,545 |
| Other construction, all land development and other land | $28,678 |
| Loans secured by nonfarm nonresidential properties | $166,067 |
| Nonfarm nonresidential secured by owner-occupied properties | $38,256 |
| Commercial real estate & other non-farm, non-residential | $127,811 |
| Multifamily residential real estate | $35,252 |
| 1-4 family residential loans | $586,515 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $27,913 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $5,808 |
| Credit card loans | $0 |
| Related Plans | $15 |
| Consumer Auto Loans | $712 |
| Other loans to individuals | $5,081 |
| All other loans & leases | $14,683 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $480 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $2,080 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $1,425 |
| Non 1-4 family restructured loans & leases | $16 |
| Total loans and leases (foreign) | $0 |
Saco & Biddeford Savings Institution had $878,506,000 of loans outstanding in 2020. $835,057,000 of loans were in real estate loans. $47,223,000 of loans were in development loans. $35,252,000 of loans were in multifamily mortgage loans. $586,515,000 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 | 217 | $56,917 | $262,290 |
| Nonfarm, nonresidential loans - <$100k | 35 | $1,336 | $38,171 |
| Nonfarm, nonresidential loans - $100-250k | 60 | $6,868 | $114,467 |
| Nonfarm, nonresidential loans - $250k-1MM | 122 | $48,713 | $399,287 |
| Commercial & Industrial, US addressed loans - <$1MM | 493 | $21,202 | $43,006 |
| Commercial & Industrial, US addressed loans - <$100k | 412 | $8,741 | $21,216 |
| Commercial & Industrial, US addressed loans - $100-250k | 57 | $6,179 | $108,404 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 24 | $6,282 | $261,750 |