Clinton Savings Bank Mortgage Rates, Fees & Info

Clinton, MA

LEI: 5493008ZGR745OCU3U41

Tax ID: 04-1185690

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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

    Clinton Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Clinton Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, and Springfield among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Clinton Savings Bank 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

    166

    Origination Dollar Volume (All Markets)

    $45,750,000

    Employee count

    99

    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
    WORCESTER, MA-CT (FHA|USDA|VA) 132 $28,950,000 $219,318 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 33 $16,575,000 $502,273 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Clinton Savings Bank's top markets include Worcester, Boston, and Springfield among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 166 $45,750,000 $275,602 $0 0.00%

    For 2018, Clinton Savings Bank's most frequently originated type of loan was Conventional, with 166 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 95 $30,615,000 $322,263 $0 0.00%
    Cash Out Refi 35 $10,285,000 $293,857 $0 0.00%
    Home Improvement 15 $455,000 $30,333 $0 0.00%
    Refi 12 $3,030,000 $252,500 $0 0.00%
    Other 9 $1,365,000 $151,667 $0 0.00%

    For 2018, Clinton Savings Bank's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Cash Out Refi, with 35 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 166 $45,750,000 $275,602 $0 0.00%

    For 2018, Clinton Savings Bank's most frequently cited loan duration was Other, with 166 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 66 $18,000,000 $272,727 $0 0.00%
    $100k-200k 43 $6,675,000 $155,233 $0 0.00%
    $100,000 or less 26 $990,000 $38,077 $0 0.00%
    $400k-600k 23 $10,925,000 $475,000 $0 0.00%
    $1MM+ 4 $6,310,000 $1,577,500 $0 0.00%
    $600k-1MM 4 $2,850,000 $712,500 $0 0.00%

    2018 saw Clinton Savings Bank place emphasis on $200k-400k loans with 66 originations, totaling $18,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 37 $9,405,000 $254,189 $0 0.00%
    $75k-100k 34 $6,470,000 $190,294 $0 0.00%
    $150k-250k 30 $9,440,000 $314,667 $0 0.00%
    $50k-75k 30 $5,430,000 $181,000 $0 0.00%
    $50k or less 15 $2,015,000 $134,333 $0 0.00%
    $250k+ 9 $4,085,000 $453,889 $0 0.00%

    Clinton Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 37 originations. The second most popular income band? $75k-100k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 166 $45,750,000 $275,602 $0 0.00%

    Clinton Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 166 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 129 $32,005,000 $248,101 $0 0.00%
    Not applicable 9 $8,625,000 $958,333 $0 0.00%
    Not provided 21 $3,685,000 $175,476 $0 0.00%
    Black 4 $820,000 $205,000 $0 0.00%
    Asian 3 $615,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.83%

    Clinton Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.13%

    Clinton Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 166 $45,750,000 $275,602

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $2,950,000 $1,475,000
    Multifamily:Site-Built 4 $4,010,000 $1,002,500
    Single Family (1-4 Units):Site-Built 160 $38,790,000 $242,438

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Clinton Savings Bank 562 Main Street Bolton, MA 1740 Full Service B&M $47,429
    Clinton Savings Bank 81 D Shrewsbury Street Boylston, MA 1505 Full Service B&M $36,853
    Clinton Savings Bank One Main Street Sterling, MA 1564 Full Service B&M $59,276
    Clinton Savings Bank 1001 Main St Boylston, MA 1505 Full Service Retail $70
    Clinton Savings Bank 12 Green Street Bolton, MA 1740 Limited, Drive-thru $264
    Clinton Savings Bank 200 Church Street Clinton, MA 1510 Full Service B&M $208,689
    Clinton Savings Bank 306 West Boylston Street West Boylston, MA 1583 Full Service B&M $34,247
    Clinton Savings Bank 35 Central Street Berlin, MA 1503 Full Service B&M $34,789

    For 2018, Clinton Savings Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,157
    Net interest income $17,992
    Total noninterest income $2,271
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $542
    Trading account gains and fees $0
    Additional Noninterest Income $1,729
    Pre-tax net operating income $5,034
    Securities gains (or losses, -) $1,602
    Income before extraordinary items $5,434
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,434
    Minority interest net income $0
    Net income $5,434
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,120

    Clinton Savings Bank's gross interest income from loans was $22,157,000.
    Clinton Savings Bank's net interest income from loans was $17,992,000.
    Clinton Savings Bank's fee based income from loans was $542,000.
    Clinton Savings Bank's net income from loans was $5,434,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,165
    Provision for credit losses $330
    Total noninterest expense $14,899
    Salaries and employee benefits $9,443
    Premises and equipment expense $1,725
    Additional noninterest expense $3,731
    Applicable income taxes $1,202
    Net charge-offs $27
    Cash dividends $272

    Clinton Savings Bank's interest expense for loans was $4,165,000.
    Clinton Savings Bank's payroll and benefits expense were $9,443,000.
    Clinton Savings Bank's property, plant and equipment expenses $1,725,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $432,587
    Deposits held in domestic offices $432,587
    Deposits by Individuals, partnerships, and corporations $414,245
    Deposits by U.S. Government $6
    Deposits by States and political subdivisions in the U.S. $18,336
    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 $35,077
    Demand deposits $17,799
    Nontransaction accounts $397,510
    Money market deposit accounts (MMDAs) $63,712
    Other savings deposits (excluding MMDAs) $203,686
    Total time deposits $130,112
    Total time and savings deposits $414,788
    Noninterest-bearing deposits $55,984
    Interest-bearing deposits $376,603
    Retail deposits $387,526
    IRAs and Keogh plan accounts $19,875
    Brokered deposits $26,084
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $575,198
    Cash & Balances due from depository institutions $13,740
    Interest-bearing balances $3,407
    Total securities $91,142
    Federal funds sold & reverse repurchase $0
    Net loans and leases $438,728
    Loan and leases loss allowance $4,221
    Trading account assets $0
    Bank premises and fixed assets $6,404
    Other real estate owned $0
    Goodwill and other intangibles $561
    All other assets $24,623

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $575,198
    Total Liabilities $515,745
    Total deposits $432,587
    Interest-bearing deposits $376,603
    Deposits held in domestic offices $432,587
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $2,045
    Trading liabilities $0
    Other borrowed funds $78,975
    Subordinated debt $0
    All other liabilities $2,138

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $438,728
    Loan and leases loss allowance $4,221
    Total loans and leases (domestic) $442,949
    All real estate loans $415,653
    Real estate loans in domestic offices $415,653
    Construction and development loans $15,126
    Residential 1-4 family construction $234
    Other construction, all land development and other land $14,892
    Loans secured by nonfarm nonresidential properties $176,777
    Nonfarm nonresidential secured by owner-occupied properties $64,495
    Commercial real estate & other non-farm, non-residential $112,282
    Multifamily residential real estate $5,489
    1-4 family residential loans $216,186
    Farmland loans $2,075
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $16,806
    To non-U.S. addressees $0
    Loans to individuals $10,490
    Credit card loans $0
    Related Plans $219
    Consumer Auto Loans $7
    Other loans to individuals $10,264
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $4,649
    Non 1-4 family restructured loans & leases $762
    Total loans and leases (foreign) $0

    Clinton Savings Bank had $438,728,000 of loans outstanding in 2018. $415,653,000 of loans were in real estate loans. $15,126,000 of loans were in development loans. $5,489,000 of loans were in multifamily mortgage loans. $216,186,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $7,000 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 142 $40,654 $286,296
    Nonfarm, nonresidential loans - <$100k 14 $654 $46,714
    Nonfarm, nonresidential loans - $100-250k 50 $6,511 $130,220
    Nonfarm, nonresidential loans - $250k-1MM 78 $33,489 $429,346
    Commercial & Industrial, US addressed loans - <$1MM 147 $11,358 $77,265
    Commercial & Industrial, US addressed loans - <$100k 90 $2,451 $27,233
    Commercial & Industrial, US addressed loans - $100-250k 26 $2,374 $91,308
    Commercial & Industrial, US addressed loans - $250k-1MM 31 $6,533 $210,742