Enterprise Bank And Trust Company Mortgage Rates, Fees & Info

Lowell, MA

LEI: 5493008ZK5SW6NTWB533

Tax ID: 04-2993547

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Enterprise Bank And Trust Company is a smaller bank specializing in Home Purchase and Refi loans. Enterprise Bank And Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Worcester, Barnstable Town, and Portland among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Enterprise Bank And Trust Company 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. Enterprise Bank And Trust Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.00%	5/4/24
30 Year Conventional Refi	6.03%	5/4/24
30 Year Cash-out Refi	6.03%	5/4/24
15 Year Conventional Purchase	5.25%	5/4/24
15 Year Conventional Refi	5.64%	5/4/24
15 Year Cash-out Refi	5.64%	5/4/24
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.

Enterprise Bank And Trust Company Mortgage Calculator

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This is not an official calculator from Enterprise Bank And Trust Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

570

Origination Dollar Volume (All Markets)

$501,490,000

Employee count

536

Awards

Enterprise Bank and Trust Company 30 Year Conventional Loans bronze

Enterprise Bank and Trust Company 30 Year Conventional Loans silver

Show all (3) awards

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
Boston-Cambridge-Newton, MA-NH (FHA\|USDA\|VA)	432	$404,420,000	$936,157	$3,305	3.45%
MANCHESTER-NASHUA, NH (FHA\|USDA\|VA)	72	$49,340,000	$685,278	$3,064	3.35%
WORCESTER, MA-CT (FHA\|USDA\|VA)	31	$15,525,000	$500,806	$3,610	3.34%
Outside of Metro Areas	6	$13,290,000	$2,215,000	$4,680	3.38%
BARNSTABLE TOWN, MA (FHA\|USDA\|VA)	5	$7,765,000	$1,553,000	$3,358	2.78%
PORTLAND-SOUTH PORTLAND, ME (FHA\|USDA\|VA)	8	$3,400,000	$425,000	$3,284	2.94%
Laconia, NH (FHA\|USDA\|VA)	5	$3,155,000	$631,000	$3,628	3.23%
Concord, NH (FHA\|USDA\|VA)	4	$1,760,000	$440,000	$3,353	3.03%
Lebanon, NH-VT (FHA\|USDA\|VA)	3	$1,405,000	$468,333	$3,253	2.96%
Keene, NH (FHA\|USDA\|VA)	3	$1,185,000	$395,000	$3,691	3.58%
SPRINGFIELD, MA (FHA\|USDA\|VA)	1	$245,000	$245,000	$3,106	2.75%

Enterprise Bank And Trust Company's top markets include Boston, Manchester, Worcester, Barnstable Town, and Portland among others.

Their top states include:

Massachusetts (FHA|USDA|VA)

New Hampshire (FHA|USDA|VA)

Maine (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Enterprise Bank and Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

Sharon & Crescent United Credit Union
Similarity Rank: 335

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QUINCY CREDIT UNION
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Charter Oak Federal Credit Union
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Bridgewater Savings Bank
Similarity Rank: 1001

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	570	$501,490,000	$879,807	$3,310	3.41%

For 2021, Enterprise Bank And Trust Company's most frequently originated type of loan was Conventional, with 570 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	296	$307,420,000	$1,038,581	$3,728	3.73%
Refi	140	$139,690,000	$997,786	$2,992	3.07%
Cash Out Refi	105	$40,445,000	$385,190	$3,149	2.84%
Home Improvement	21	$9,885,000	$470,714	$4,496	4.09%
Other	8	$4,050,000	$506,250	$3,522	2.88%

For 2021, Enterprise Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 296 originations. The 2nd most popular reason was Refi, with 140 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	224	$92,200,000	$411,607	$3,418	2.91%
10 Year	111	$177,375,000	$1,597,973	$2,961	3.68%
Other	77	$115,455,000	$1,499,416	$0	3.98%
1 Year	76	$57,730,000	$759,605	$0	4.53%
15 Year	61	$19,415,000	$318,279	$2,955	2.50%
5 Year	13	$12,975,000	$998,077	$0	3.83%
20 Year	6	$4,520,000	$753,333	$3,149	3.27%
3 Year	2	$21,820,000	$10,910,000	$0	4.00%

For 2021, Enterprise Bank And Trust Company's most frequently cited loan duration was 30 Year, with 224 originations. The 2nd most popular length was 10 Year, with 111 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	254	$100,730,000	$396,575
$1k-2k	27	$7,815,000	$289,444
$2k-3k	8	$2,810,000	$351,250
$3k-4k	5	$2,255,000	$451,000
$4k-5k	1	$805,000	$805,000

Enterprise Bank And Trust Company's average total fees were $3,418, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 254 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	205	$269,215,000	$1,313,244
2.5-3%	174	$97,560,000	$560,690
4-5%	116	$102,260,000	$881,552
<2.5%	67	$28,065,000	$418,881
5-6%	8	$4,390,000	$548,750

During 2021, Enterprise Bank And Trust Company's average interest rate for loans was 2.91%, while their most frequently originated rate bucket for loans was 3-4%, with 205 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	203	$60,205,000	$296,576	$2,996	3.22%
$400k-600k	127	$60,295,000	$474,764	$3,589	3.34%
$1MM+	97	$307,905,000	$3,174,278	$5,128	3.78%
$600k-1MM	87	$65,125,000	$748,563	$4,348	3.77%
$100k-200k	48	$7,380,000	$153,750	$2,770	3.00%
$100,000 or less	8	$580,000	$72,500	$2,821	3.19%

2021 saw Enterprise Bank And Trust Company place emphasis on $200k-400k loans with 203 originations, totaling $60,205,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-150k	70	$25,350,000	$362,143	$3,310	2.86%
$150k-250k	65	$25,545,000	$393,000	$3,352	2.81%
$250k+	61	$37,025,000	$606,967	$3,801	2.82%
$50k-75k	46	$11,620,000	$252,609	$2,994	2.84%
$75k-100k	41	$11,175,000	$272,561	$2,902	2.76%
$50k or less	21	$7,185,000	$342,143	$3,228	3.36%

Enterprise Bank And Trust Company lent most frequently to those with incomes in the $100k-150k range, with 70 originations. The second most popular income band? $150k-250k, with 65 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	74	$28,040,000	$378,919	$3,334	2.85%
30-36%	48	$18,460,000	$384,583	$3,174	2.80%
<20%	46	$18,010,000	$391,522	$3,490	2.74%
49%	16	$7,520,000	$470,000	$3,616	2.85%
>60%	15	$6,685,000	$445,667	$3,493	3.03%
42%	13	$3,795,000	$291,923	$2,969	2.62%
41%	11	$3,625,000	$329,545	$3,064	2.69%
50-60%	9	$2,765,000	$307,222	$3,110	2.94%
37%	8	$3,320,000	$415,000	$3,732	2.83%
40%	7	$2,565,000	$366,429	$2,941	2.75%
45%	7	$3,975,000	$567,857	$3,796	2.73%
46%	7	$1,945,000	$277,857	$2,939	2.66%
36%	6	$2,390,000	$398,333	$3,113	2.96%
39%	6	$1,730,000	$288,333	$3,135	2.88%
47%	6	$2,480,000	$413,333	$3,169	2.81%
38%	5	$3,405,000	$681,000	$3,649	2.90%
44%	4	$850,000	$212,500	$2,502	2.66%
43%	4	$1,830,000	$457,500	$3,439	2.84%
48%	2	$720,000	$360,000	$3,501	3.13%

Enterprise Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 74 originations. The next most common DTI ratio? 30-36%, with 48 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	250	$374,810,000	$1,499,240	$0	4.04%
White	232	$90,600,000	$390,517	$3,273	2.86%
Not provided	70	$28,340,000	$404,857	$3,347	3.06%
Asian	12	$5,770,000	$480,833	$3,826	2.87%
Other Asian	2	$730,000	$365,000	$0	3.51%
Chinese	1	$605,000	$605,000	$3,814	3.25%
Korean	1	$305,000	$305,000	$3,204	2.38%
Asian Indian	1	$225,000	$225,000	$0	3.75%
Black	1	$105,000	$105,000	$2,836	2.75%

Approval Rates

Total approvals of all applications
94.82%

Enterprise Bank And Trust Company has an average approval rate.

Pick Rate

Approvals leading to origination
77.19%

Enterprise Bank And Trust Company has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	570	$501,490,000	$879,807

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	570	$501,490,000	$879,807

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	64	$21,570,000	$337,031	$2,926	3.01%
40-60%	156	$84,990,000	$544,808	$3,099	3.24%
60-80%	300	$357,200,000	$1,190,667	$3,533	3.64%
80-100%	42	$36,170,000	$861,190	$3,707	2.96%
Under 20%	8	$1,560,000	$195,000	$2,710	3.35%

Complaints

Bank Name	Product	Issue	2021 CPFB Complaints	% of Total Issues
EnTrust Funding	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	4	80.0%
EnTrust Funding	FHA mortgage	Applying for a mortgage or refinancing an existing mortgage	1	20.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Enterprise Bank and Trust Company	1120 Main Street Tewksbury, MA 1876	Full Service B&M	$133,517
Enterprise Bank and Trust Company	1168 Lakeview Avenue Dracut, MA 1826	Full Service B&M	$159,075
Enterprise Bank and Trust Company	13-15 Indian Rock Road Windham, NH 3087	Full Service B&M	$50,720
Enterprise Bank and Trust Company	139 Bridge Street, Route 38 Pelham, NH 3076	Full Service B&M	$110,554
Enterprise Bank and Trust Company	185 Littleton Road Chelmsford, MA 1824	Full Service B&M	$251,566
Enterprise Bank and Trust Company	20 Drum Hill Road Chelmsford, MA 1824	Full Service B&M	$200,702
Enterprise Bank and Trust Company	222 Merrimack St Lowell, MA 1852	Full Service B&M	$584,952
Enterprise Bank and Trust Company	233 Boston Road North Billerica, MA 1862	Full Service B&M	$146,403
Enterprise Bank and Trust Company	237 Littleton Road Westford, MA 1886	Full Service B&M	$182,127
Enterprise Bank and Trust Company	247 Chickering Road North Andover, MA 1845	Full Service B&M	$9,252
Enterprise Bank and Trust Company	253 Middlesex Road Tyngsboro, MA 1879	Full Service B&M	$60,509
Enterprise Bank and Trust Company	255 Broadway Methuen, MA 1844	Full Service B&M	$162,641
Enterprise Bank and Trust Company	290 Merrimack Street Lawrence, MA 1843	Full Service B&M	$151,430
Enterprise Bank and Trust Company	340 Great Road Acton, MA 1720	Full Service B&M	$110,976
Enterprise Bank and Trust Company	420 John Fitch Highway Fitchburg, MA 1420	Full Service B&M	$142,126
Enterprise Bank and Trust Company	430 Gorham Street Lowell, MA 1852	Full Service B&M	$62,853
Enterprise Bank and Trust Company	45 Lowell Road Hudson, NH 3051	Full Service B&M	$82,156
Enterprise Bank and Trust Company	47 Crystal Avenue Derry, NH 3038	Full Service B&M	$101,171
Enterprise Bank and Trust Company	493 Amherst St Nashua, NH 3063	Full Service B&M	$73,351
Enterprise Bank and Trust Company	55 Main Street Salem, NH 3079	Full Service B&M	$368,687
Enterprise Bank and Trust Company	65 Main Street Leominster, MA 1453	Full Service B&M	$176,561
Enterprise Bank and Trust Company	674 Boston Road Billerica, MA 1821	Full Service B&M	$138,733
Enterprise Bank and Trust Company	76 Bedford Street, Unit #1 Lexington, MA 2420	Full Service B&M	$37,113
Enterprise Bank and Trust Company	8 High Street Andover, MA 1810	Full Service B&M	$255,160
Enterprise Bank and Trust Company	86-88 Main Street Nashua, NH 3060	Full Service B&M	$97,410
Enterprise Bank and Trust Company	910 Andover Street Tewksbury, MA 1876	Full Service B&M	$115,288

For 2021, Enterprise Bank And Trust Company had 26 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$149,502
Net interest income	$145,519
Total noninterest income	$17,340
Gross Fiduciary activities income	$5,536
Service charges on deposit accounts	$4,267
Trading account gains and fees	$0
Additional Noninterest Income	$7,537
Pre-tax net operating income	$59,798
Securities gains (or losses, -)	$346
Income before extraordinary items	$45,335
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$45,335
Minority interest net income	$0
Net income	$45,335
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$45,061

Enterprise Bank And Trust Company's gross interest income from loans was $149,502,000.
Enterprise Bank And Trust Company's net interest income from loans was $145,519,000.
Enterprise Bank And Trust Company's fee based income from loans was $4,267,000.
Enterprise Bank And Trust Company's net income from loans was $45,335,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,983
Provision for credit losses	$1,769
Total noninterest expense	$101,292
Salaries and employee benefits	$66,634
Premises and equipment expense	$12,146
Additional noninterest expense	$22,512
Applicable income taxes	$14,809
Net charge-offs	$3,964
Cash dividends	$22,350

Enterprise Bank And Trust Company's interest expense for loans was $3,983,000.
Enterprise Bank And Trust Company's payroll and benefits expense were $66,634,000.
Enterprise Bank And Trust Company's property, plant and equipment expenses $12,146,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	1.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	1.0%
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	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	$3,982,220
Deposits held in domestic offices	$3,982,220
Deposits by Individuals, partnerships, and corporations	$3,702,123
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$273,867
Deposits by Commercial banks and other depository institutions in U.S.	$6,229
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$2,110,677
Demand deposits	$1,367,744
Nontransaction accounts	$1,871,542
Money market deposit accounts (MMDAs)	$1,355,701
Other savings deposits (excluding MMDAs)	$309,392
Total time deposits	$206,449
Total time and savings deposits	$2,614,475
Noninterest-bearing deposits	$1,481,483
Interest-bearing deposits	$2,500,737
Retail deposits	$3,930,174
IRAs and Keogh plan accounts	$41,693
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$4,447,819
Cash & Balances due from depository institutions	$436,576
Interest-bearing balances	$402,782
Total securities	$958,215
Federal funds sold & reverse repurchase	$0
Net loans and leases	$2,872,980
Loan and leases loss allowance	$47,704
Trading account assets	$0
Bank premises and fixed assets	$43,736
Other real estate owned	$0
Goodwill and other intangibles	$5,656
All other assets	$130,656

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$4,447,819
Total Liabilities	$4,042,843
Total deposits	$3,982,220
Interest-bearing deposits	$2,500,737
Deposits held in domestic offices	$3,982,220
% insured (estimated)	$59
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$5,479
Subordinated debt	$0
All other liabilities	$55,144

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$2,872,980
Loan and leases loss allowance	$47,704
Total loans and leases (domestic)	$2,920,684
All real estate loans	$2,540,887
Real estate loans in domestic offices	$2,540,887
Construction and development loans	$401,443
Residential 1-4 family construction	$212,795
Other construction, all land development and other land	$188,648
Loans secured by nonfarm nonresidential properties	$1,231,186
Nonfarm nonresidential secured by owner-occupied properties	$681,349
Commercial real estate & other non-farm, non-residential	$549,837
Multifamily residential real estate	$347,449
1-4 family residential loans	$560,809
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$323,090
To non-U.S. addressees	$0
Loans to individuals	$8,761
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$236
Other loans to individuals	$8,525
All other loans & leases	$47,946
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	$8,556
Non 1-4 family restructured loans & leases	$8,220
Total loans and leases (foreign)	$0

Enterprise Bank and Trust Company had $2,872,980,000 of loans outstanding in 2021. $2,540,887,000 of loans were in real estate loans. $401,443,000 of loans were in development loans. $347,449,000 of loans were in multifamily mortgage loans. $560,809,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $236,000 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	1,499	$415,218	$276,997
Nonfarm, nonresidential loans - <$100k	163	$8,448	$51,828
Nonfarm, nonresidential loans - $100-250k	480	$61,904	$128,967
Nonfarm, nonresidential loans - $250k-1MM	856	$344,866	$402,881
Commercial & Industrial, US addressed loans - <$1MM	2,624	$204,526	$77,944
Commercial & Industrial, US addressed loans - <$100k	1,845	$48,001	$26,017
Commercial & Industrial, US addressed loans - $100-250k	449	$53,321	$118,755
Commercial & Industrial, US addressed loans - $250k-1MM	330	$103,204	$312,739