Clinton Savings Bank Mortgage Rates, Fees & Info

Clinton, MA

LEI: 5493008ZGR745OCU3U41

Tax ID: 04-1185690

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

    • Bank Data

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

    • Overview

    Clinton Savings Bank is a smaller bank specializing in Cash Out Refi, Refi, and Home Purchase loans. Clinton Savings Bank has a high proportion of conventional loans. Their top markets include Worcester, Boston, Barnstable Town, Portland, and Providence among others. Clinton Savings Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


    Originations

    242

    Origination Dollar Volume (All Markets)

    $103,590,000

    Employee count

    101

    Top Markets

    Market Originations Total Value Average Loan Average Fees Average Rate
    WORCESTER, MA-CT (FHA|USDA|VA) 199 $55,275,000 $277,764 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 36 $36,590,000 $1,016,389 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 4 $9,820,000 $2,455,000 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $1,505,000 $1,505,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $400,000 $200,000 $0 0.00%

    Clinton Savings Bank's top markets include Worcester, Boston, Barnstable Town, Portland, and Providence among others.

    Product Mix

    Loan Type Originations Total Value Average Loan Average Fees Average Rate
    Conventional 242 $103,590,000 $428,058 $0 0.00%

    For the 2021 period, Clinton Savings Bank's most frequently originated loan type of loans were Conventional, with 242 originations.

    Loan Reason

    Loan Reason Originations Total Value Average Loan Average Fees Average Rate
    Cash Out Refi 111 $31,985,000 $288,153 $0 0.00%
    Refi 62 $40,890,000 $659,516 $0 0.00%
    Home Purchase 57 $29,955,000 $525,526 $0 0.00%
    Home Improvement 9 $335,000 $37,222 $0 0.00%
    Other 3 $425,000 $141,667 $0 0.00%

    For the 2021, Clinton Savings Bank's most frequently cited loan purpose of loans were Cash Out Refi, with 111 originations. The 2nd most popular reason of loans were Refi, with 62 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 242 $103,590,000 $428,058 $0 0.00%

    For the 2021, Clinton Savings Bank's most frequently cited loan length of loans were Other, with 242 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 119 $31,925,000 $268,277 $0 0.00%
    $100k-200k 58 $9,160,000 $157,931 $0 0.00%
    $400k-600k 35 $16,235,000 $463,857 $0 0.00%
    $100,000 or less 15 $715,000 $47,667 $0 0.00%
    $1MM+ 8 $40,500,000 $5,062,500 $0 0.00%
    $600k-1MM 7 $5,055,000 $722,143 $0 0.00%

    2021 saw Clinton Savings Bank place emphasis on $200k-400k loans with 119 originations, totaling $31,925,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 52 $13,820,000 $265,769 $0 0.00%
    $75k-100k 47 $10,795,000 $229,681 $0 0.00%
    $150k-250k 45 $14,885,000 $330,778 $0 0.00%
    $50k-75k 43 $8,045,000 $187,093 $0 0.00%
    $250k+ 21 $9,835,000 $468,333 $0 0.00%
    $50k or less 15 $2,655,000 $177,000 $0 0.00%

    Clinton Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 52 originations. The second most popular income band? $75k-100k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 242 $103,590,000 $428,058 $0 0.00%

    Clinton Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 242 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 196 $52,590,000 $268,316 $0 0.00%
    Not applicable 17 $43,405,000 $2,553,235 $0 0.00%
    Not provided 22 $6,450,000 $293,182 $0 0.00%
    Black 4 $680,000 $170,000 $0 0.00%
    Asian 1 $245,000 $245,000 $0 0.00%
    American Indian 1 $125,000 $125,000 $0 0.00%
    Other Pacific Islander 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.39%

    Clinton Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.27%

    Clinton Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 242 $103,590,000 $428,058

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    242 $103,590,000 $428,058

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Clinton Savings Bank 1001 Main St Boylston, MA 1505 Full Service Retail $409
    Clinton Savings Bank 12 Green Street Bolton, MA 1740 Limited, Drive-thru $279
    Clinton Savings Bank 200 Church St Clinton, MA 1510 Full Service B&M $258,276
    Clinton Savings Bank 306 West Boylston Street West Boylston, MA 1583 Full Service B&M $52,188
    Clinton Savings Bank 35 Central Street Berlin, MA 1503 Full Service B&M $49,939
    Clinton Savings Bank 562 Main Street Bolton, MA 1740 Full Service B&M $56,301
    Clinton Savings Bank 81 D Shrewsbury Street Boylston, MA 1505 Full Service B&M $48,803
    Clinton Savings Bank One Main Street Sterling, MA 1564 Full Service B&M $72,392

    For 2021, Clinton Savings Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,657
    Net interest income $17,969
    Total noninterest income $2,424
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $393
    Trading account gains and fees $0
    Additional Noninterest Income $2,031
    Pre-tax net operating income $3,981
    Securities gains (or losses, -) $1,856
    Income before extraordinary items $4,699
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,699
    Minority interest net income $0
    Net income $4,699
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,195

    Clinton Savings Bank's gross interest income from loans was $20,657,000.
    Clinton Savings Bank's net interest income from loans was $17,969,000.
    Clinton Savings Bank's fee based income from loans was $393,000.
    Clinton Savings Bank's net income from loans was $4,699,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,688
    Provision for credit losses $360
    Total noninterest expense $16,052
    Salaries and employee benefits $10,130
    Premises and equipment expense $1,869
    Additional noninterest expense $4,053
    Applicable income taxes $1,138
    Net charge-offs $32
    Cash dividends $166

    Clinton Savings Bank's interest expense for loans was $2,688,000.
    Clinton Savings Bank's payroll and benefits expense were $10,130,000.
    Clinton Savings Bank's property, plant and equipment expenses $1,869,000.

    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 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $543,733
    Deposits held in domestic offices $543,733
    Deposits by Individuals, partnerships, and corporations $512,598
    Deposits by U.S. Government $4
    Deposits by States and political subdivisions in the U.S. $31,131
    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 $44,470
    Demand deposits $22,785
    Nontransaction accounts $499,263
    Money market deposit accounts (MMDAs) $112,980
    Other savings deposits (excluding MMDAs) $284,539
    Total time deposits $101,744
    Total time and savings deposits $520,948
    Noninterest-bearing deposits $87,764
    Interest-bearing deposits $455,969
    Retail deposits $504,690
    IRAs and Keogh plan accounts $16,193
    Brokered deposits $8,179
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $649,562
    Cash & Balances due from depository institutions $26,334
    Interest-bearing balances $22,694
    Total securities $169,482
    Federal funds sold & reverse repurchase $0
    Net loans and leases $422,406
    Loan and leases loss allowance $4,945
    Trading account assets $0
    Bank premises and fixed assets $6,165
    Other real estate owned $0
    Goodwill and other intangibles $417
    All other assets $24,758

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $649,562
    Total Liabilities $575,921
    Total deposits $543,733
    Interest-bearing deposits $455,969
    Deposits held in domestic offices $543,733
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $4,864
    Trading liabilities $0
    Other borrowed funds $25,381
    Subordinated debt $0
    All other liabilities $1,943

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $422,406
    Loan and leases loss allowance $4,945
    Total loans and leases (domestic) $427,351
    All real estate loans $402,472
    Real estate loans in domestic offices $402,472
    Construction and development loans $44,685
    Residential 1-4 family construction $12,456
    Other construction, all land development and other land $32,229
    Loans secured by nonfarm nonresidential properties $119,135
    Nonfarm nonresidential secured by owner-occupied properties $58,745
    Commercial real estate & other non-farm, non-residential $60,390
    Multifamily residential real estate $26,182
    1-4 family residential loans $211,425
    Farmland loans $1,045
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $17,427
    To non-U.S. addressees $0
    Loans to individuals $7,438
    Credit card loans $0
    Related Plans $148
    Consumer Auto Loans $0
    Other loans to individuals $7,290
    All other loans & leases $14
    Loans to foreign governments and official institutions $0
    Other loans $14
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,983
    Non 1-4 family restructured loans & leases $86
    Total loans and leases (foreign) $0

    Clinton Savings Bank had $422,406,000 of loans outstanding in 2021. $402,472,000 of loans were in real estate loans. $44,685,000 of loans were in development loans. $26,182,000 of loans were in multifamily mortgage loans. $211,425,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 77 $21,873 $284,065
    Nonfarm, nonresidential loans - <$100k 7 $316 $45,143
    Nonfarm, nonresidential loans - $100-250k 24 $2,078 $86,583
    Nonfarm, nonresidential loans - $250k-1MM 46 $19,479 $423,457
    Commercial & Industrial, US addressed loans - <$1MM 99 $8,690 $87,778
    Commercial & Industrial, US addressed loans - <$100k 71 $2,147 $30,239
    Commercial & Industrial, US addressed loans - $100-250k 19 $2,424 $127,579
    Commercial & Industrial, US addressed loans - $250k-1MM 9 $4,119 $457,667