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 Cash Out Refi, Refi, and Home Purchase loans. Clinton Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Barnstable Town, and Providence 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

    238

    Origination Dollar Volume (All Markets)

    $78,360,000

    Employee count

    94

    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) 186 $55,340,000 $297,527 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 47 $21,225,000 $451,596 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 4 $1,570,000 $392,500 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    Clinton Savings Bank's top markets include Worcester, Boston, Barnstable Town, and Providence among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 238 $78,360,000 $329,244 $0 0.00%

    For 2020, Clinton Savings Bank's most frequently originated type of loan was Conventional, with 238 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 89 $27,895,000 $313,427 $0 0.00%
    Refi 80 $26,480,000 $331,000 $0 0.00%
    Home Purchase 60 $23,210,000 $386,833 $0 0.00%
    Home Improvement 6 $150,000 $25,000 $0 0.00%
    Other 3 $625,000 $208,333 $0 0.00%

    For 2020, Clinton Savings Bank's most frequently cited loan purpose was Cash Out Refi, with 89 originations. The 2nd most popular reason was Refi, with 80 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 238 $78,360,000 $329,244 $0 0.00%

    For 2020, Clinton Savings Bank's most frequently cited loan duration was Other, with 238 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 127 $36,285,000 $285,709 $0 0.00%
    $100k-200k 51 $8,265,000 $162,059 $0 0.00%
    $400k-600k 37 $17,245,000 $466,081 $0 0.00%
    $100,000 or less 10 $360,000 $36,000 $0 0.00%
    $600k-1MM 10 $7,420,000 $742,000 $0 0.00%
    $1MM+ 3 $8,785,000 $2,928,333 $0 0.00%

    2020 saw Clinton Savings Bank place emphasis on $200k-400k loans with 127 originations, totaling $36,285,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 66 $22,130,000 $335,303 $0 0.00%
    $100k-150k 49 $13,925,000 $284,184 $0 0.00%
    $250k+ 35 $14,995,000 $428,429 $0 0.00%
    $50k-75k 35 $6,805,000 $194,429 $0 0.00%
    $75k-100k 28 $6,670,000 $238,214 $0 0.00%
    $50k or less 8 $1,300,000 $162,500 $0 0.00%

    Clinton Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 66 originations. The second most popular income band? $100k-150k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 238 $78,360,000 $329,244 $0 0.00%

    Clinton Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 238 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 191 $57,605,000 $301,597 $0 0.00%
    Not applicable 11 $11,225,000 $1,020,455 $0 0.00%
    Not provided 26 $6,830,000 $262,692 $0 0.00%
    Asian 4 $1,200,000 $300,000 $0 0.00%
    Black 5 $1,125,000 $225,000 $0 0.00%
    Asian Indian 1 $375,000 $375,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.97%

    Clinton Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.57%

    Clinton Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 238 $78,360,000 $329,244

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $9,560,000 $2,390,000
    Single Family (1-4 Units):Site-Built 234 $68,800,000 $294,017

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Clinton Savings Bank 1001 Main St Boylston, MA 1505 Full Service Retail $236
    Clinton Savings Bank 12 Green Street Bolton, MA 1740 Limited, Drive-thru $265
    Clinton Savings Bank 200 Church Street Clinton, MA 1510 Full Service B&M $249,097
    Clinton Savings Bank 306 West Boylston Street West Boylston, MA 1583 Full Service B&M $45,954
    Clinton Savings Bank 35 Central Street Berlin, MA 1503 Full Service B&M $45,218
    Clinton Savings Bank 562 Main Street Bolton, MA 1740 Full Service B&M $53,317
    Clinton Savings Bank 81 D Shrewsbury Street Boylston, MA 1505 Full Service B&M $47,338
    Clinton Savings Bank One Main Street Sterling, MA 1564 Full Service B&M $62,911

    For 2020, Clinton Savings Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,566
    Net interest income $17,055
    Total noninterest income $3,401
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $417
    Trading account gains and fees $0
    Additional Noninterest Income $2,984
    Pre-tax net operating income $3,854
    Securities gains (or losses, -) $772
    Income before extraordinary items $3,843
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,843
    Minority interest net income $0
    Net income $3,843
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,202

    Clinton Savings Bank's gross interest income from loans was $21,566,000.
    Clinton Savings Bank's net interest income from loans was $17,055,000.
    Clinton Savings Bank's fee based income from loans was $417,000.
    Clinton Savings Bank's net income from loans was $3,843,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,511
    Provision for credit losses $860
    Total noninterest expense $15,742
    Salaries and employee benefits $10,072
    Premises and equipment expense $1,822
    Additional noninterest expense $3,848
    Applicable income taxes $783
    Net charge-offs $544
    Cash dividends $167

    Clinton Savings Bank's interest expense for loans was $4,511,000.
    Clinton Savings Bank's payroll and benefits expense were $10,072,000.
    Clinton Savings Bank's property, plant and equipment expenses $1,822,000.

    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 $510,824
    Deposits held in domestic offices $510,824
    Deposits by Individuals, partnerships, and corporations $483,554
    Deposits by U.S. Government $4
    Deposits by States and political subdivisions in the U.S. $27,266
    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 $38,469
    Demand deposits $18,793
    Nontransaction accounts $472,355
    Money market deposit accounts (MMDAs) $99,494
    Other savings deposits (excluding MMDAs) $245,994
    Total time deposits $126,867
    Total time and savings deposits $492,031
    Noninterest-bearing deposits $68,344
    Interest-bearing deposits $442,480
    Retail deposits $457,940
    IRAs and Keogh plan accounts $17,867
    Brokered deposits $19,422
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $629,935
    Cash & Balances due from depository institutions $54,387
    Interest-bearing balances $49,495
    Total securities $121,466
    Federal funds sold & reverse repurchase $0
    Net loans and leases $423,640
    Loan and leases loss allowance $4,617
    Trading account assets $0
    Bank premises and fixed assets $6,517
    Other real estate owned $0
    Goodwill and other intangibles $536
    All other assets $23,389

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $629,935
    Total Liabilities $559,020
    Total deposits $510,824
    Interest-bearing deposits $442,480
    Deposits held in domestic offices $510,824
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $2,003
    Trading liabilities $0
    Other borrowed funds $43,415
    Subordinated debt $0
    All other liabilities $2,778

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $423,640
    Loan and leases loss allowance $4,617
    Total loans and leases (domestic) $428,257
    All real estate loans $383,653
    Real estate loans in domestic offices $383,653
    Construction and development loans $23,124
    Residential 1-4 family construction $4,226
    Other construction, all land development and other land $18,898
    Loans secured by nonfarm nonresidential properties $126,765
    Nonfarm nonresidential secured by owner-occupied properties $61,015
    Commercial real estate & other non-farm, non-residential $65,750
    Multifamily residential real estate $30,126
    1-4 family residential loans $201,703
    Farmland loans $1,935
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $35,265
    To non-U.S. addressees $0
    Loans to individuals $9,323
    Credit card loans $0
    Related Plans $410
    Consumer Auto Loans $0
    Other loans to individuals $8,913
    All other loans & leases $16
    Loans to foreign governments and official institutions $0
    Other loans $16
    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 $2,406
    Non 1-4 family restructured loans & leases $100
    Total loans and leases (foreign) $0

    Clinton Savings Bank had $423,640,000 of loans outstanding in 2020. $383,653,000 of loans were in real estate loans. $23,124,000 of loans were in development loans. $30,126,000 of loans were in multifamily mortgage loans. $201,703,000 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 92 $26,043 $283,076
    Nonfarm, nonresidential loans - <$100k 7 $410 $58,571
    Nonfarm, nonresidential loans - $100-250k 29 $2,799 $96,517
    Nonfarm, nonresidential loans - $250k-1MM 56 $22,834 $407,750
    Commercial & Industrial, US addressed loans - <$1MM 194 $17,099 $88,139
    Commercial & Industrial, US addressed loans - <$100k 133 $3,538 $26,602
    Commercial & Industrial, US addressed loans - $100-250k 34 $3,809 $112,029
    Commercial & Industrial, US addressed loans - $250k-1MM 27 $9,752 $361,185