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 Refi loans. Clinton Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Barnstable Town, and Springfield among others. We have data for 4 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

    200

    Origination Dollar Volume (All Markets)

    $53,190,000

    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) 169 $37,185,000 $220,030 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 25 $14,305,000 $572,200 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 5 $1,525,000 $305,000 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
    Clinton Savings Bank's top markets include Worcester, Boston, Barnstable Town, 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 200 $53,190,000 $265,950 $0 0.00%

    For 2019, Clinton Savings Bank's most frequently originated type of loan was Conventional, with 200 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 96 $25,980,000 $270,625 $0 0.00%
    Cash Out Refi 45 $9,655,000 $214,556 $0 0.00%
    Refi 29 $12,375,000 $426,724 $0 0.00%
    Home Improvement 23 $3,835,000 $166,739 $0 0.00%
    Other 7 $1,345,000 $192,143 $0 0.00%

    For 2019, Clinton Savings Bank's most frequently cited loan purpose was Home Purchase, with 96 originations. The 2nd most popular reason was Cash Out Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 200 $53,190,000 $265,950 $0 0.00%

    For 2019, Clinton Savings Bank's most frequently cited loan duration was Other, with 200 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 92 $24,990,000 $271,630 $0 0.00%
    $100k-200k 48 $7,520,000 $156,667 $0 0.00%
    $100,000 or less 37 $1,525,000 $41,216 $0 0.00%
    $400k-600k 10 $4,740,000 $474,000 $0 0.00%
    $600k-1MM 9 $6,385,000 $709,444 $0 0.00%
    $1MM+ 4 $8,030,000 $2,007,500 $0 0.00%

    2019 saw Clinton Savings Bank place emphasis on $200k-400k loans with 92 originations, totaling $24,990,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 49 $8,765,000 $178,878 $0 0.00%
    $75k-100k 37 $7,855,000 $212,297 $0 0.00%
    $150k-250k 35 $8,775,000 $250,714 $0 0.00%
    $100k-150k 32 $7,870,000 $245,938 $0 0.00%
    $50k or less 17 $2,205,000 $129,706 $0 0.00%
    $250k+ 16 $6,170,000 $385,625 $0 0.00%

    Clinton Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 49 originations. The second most popular income band? $75k-100k, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 200 $53,190,000 $265,950 $0 0.00%

    Clinton Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 200 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 164 $37,130,000 $226,402 $0 0.00%
    Not applicable 9 $10,485,000 $1,165,000 $0 0.00%
    Not provided 18 $3,830,000 $212,778 $0 0.00%
    Black 6 $1,520,000 $253,333 $0 0.00%
    American Indian 3 $225,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.33%

    Clinton Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.50%

    Clinton Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 200 $53,190,000 $265,950

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $8,395,000 $1,679,000
    Single Family (1-4 Units):Site-Built 195 $44,795,000 $229,718

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Clinton Savings Bank 1001 Main St Boylston, MA 1505 Full Service Retail $120
    Clinton Savings Bank 12 Green Street Bolton, MA 1740 Limited, Drive-thru $261
    Clinton Savings Bank 200 Church Street Clinton, MA 1510 Full Service B&M $229,042
    Clinton Savings Bank 306 West Boylston Street West Boylston, MA 1583 Full Service B&M $37,328
    Clinton Savings Bank 35 Central Street Berlin, MA 1503 Full Service B&M $39,739
    Clinton Savings Bank 562 Main Street Bolton, MA 1740 Full Service B&M $49,843
    Clinton Savings Bank 81 D Shrewsbury Street Boylston, MA 1505 Full Service B&M $44,950
    Clinton Savings Bank One Main Street Sterling, MA 1564 Full Service B&M $58,851

    For 2019, Clinton Savings Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $23,339
    Net interest income $17,737
    Total noninterest income $2,642
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $538
    Trading account gains and fees $0
    Additional Noninterest Income $2,104
    Pre-tax net operating income $5,271
    Securities gains (or losses, -) $1,113
    Income before extraordinary items $5,209
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,209
    Minority interest net income $0
    Net income $5,209
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,296

    Clinton Savings Bank's gross interest income from loans was $23,339,000.
    Clinton Savings Bank's net interest income from loans was $17,737,000.
    Clinton Savings Bank's fee based income from loans was $538,000.
    Clinton Savings Bank's net income from loans was $5,209,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,602
    Provision for credit losses $50
    Total noninterest expense $15,058
    Salaries and employee benefits $9,295
    Premises and equipment expense $1,846
    Additional noninterest expense $3,917
    Applicable income taxes $1,175
    Net charge-offs $-30
    Cash dividends $317

    Clinton Savings Bank's interest expense for loans was $5,602,000.
    Clinton Savings Bank's payroll and benefits expense were $9,295,000.
    Clinton Savings Bank's property, plant and equipment expenses $1,846,000.

    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 $458,600
    Deposits held in domestic offices $458,600
    Deposits by Individuals, partnerships, and corporations $436,171
    Deposits by U.S. Government $7
    Deposits by States and political subdivisions in the U.S. $22,422
    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 $33,743
    Demand deposits $16,735
    Nontransaction accounts $424,857
    Money market deposit accounts (MMDAs) $85,933
    Other savings deposits (excluding MMDAs) $202,098
    Total time deposits $136,826
    Total time and savings deposits $441,865
    Noninterest-bearing deposits $48,140
    Interest-bearing deposits $410,460
    Retail deposits $401,505
    IRAs and Keogh plan accounts $18,564
    Brokered deposits $25,985
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $585,883
    Cash & Balances due from depository institutions $27,496
    Interest-bearing balances $24,092
    Total securities $106,910
    Federal funds sold & reverse repurchase $0
    Net loans and leases $420,108
    Loan and leases loss allowance $4,301
    Trading account assets $0
    Bank premises and fixed assets $6,692
    Other real estate owned $609
    Goodwill and other intangibles $547
    All other assets $23,521

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $585,883
    Total Liabilities $519,621
    Total deposits $458,600
    Interest-bearing deposits $410,460
    Deposits held in domestic offices $458,600
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $5,422
    Trading liabilities $0
    Other borrowed funds $53,446
    Subordinated debt $0
    All other liabilities $2,153

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $420,108
    Loan and leases loss allowance $4,301
    Total loans and leases (domestic) $424,409
    All real estate loans $394,319
    Real estate loans in domestic offices $394,319
    Construction and development loans $13,889
    Residential 1-4 family construction $5,822
    Other construction, all land development and other land $8,067
    Loans secured by nonfarm nonresidential properties $117,795
    Nonfarm nonresidential secured by owner-occupied properties $43,923
    Commercial real estate & other non-farm, non-residential $73,872
    Multifamily residential real estate $28,819
    1-4 family residential loans $231,809
    Farmland loans $2,007
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $18,888
    To non-U.S. addressees $0
    Loans to individuals $10,955
    Credit card loans $0
    Related Plans $524
    Consumer Auto Loans $0
    Other loans to individuals $10,431
    All other loans & leases $247
    Loans to foreign governments and official institutions $0
    Other loans $247
    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 $2,731
    Non 1-4 family restructured loans & leases $116
    Total loans and leases (foreign) $0

    Clinton Savings Bank had $420,108,000 of loans outstanding in 2019. $394,319,000 of loans were in real estate loans. $13,889,000 of loans were in development loans. $28,819,000 of loans were in multifamily mortgage loans. $231,809,000 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 96 $25,286 $263,396
    Nonfarm, nonresidential loans - <$100k 10 $452 $45,200
    Nonfarm, nonresidential loans - $100-250k 32 $3,222 $100,688
    Nonfarm, nonresidential loans - $250k-1MM 54 $21,612 $400,222
    Commercial & Industrial, US addressed loans - <$1MM 84 $9,135 $108,750
    Commercial & Industrial, US addressed loans - <$100k 48 $1,229 $25,604
    Commercial & Industrial, US addressed loans - $100-250k 21 $2,159 $102,810
    Commercial & Industrial, US addressed loans - $250k-1MM 15 $5,747 $383,133