Watertown Savings Bank Mortgage Rates, Fees & Info

Watertown, MA

LEI: 5493009IWRQ5BJEI4M92

Tax ID: 04-1950840

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

Jump to:

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

    Watertown Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Watertown Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Port St. Lucie, Pittsfield, and Providence among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Watertown 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.

    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.


    Originations

    165

    Origination Dollar Volume (All Markets)

    $89,075,000

    Employee count

    108

    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) 153 $81,775,000 $534,477 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 8 $3,210,000 $401,250 $0 0.00%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $2,405,000 $2,405,000 $0 0.00%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $1,105,000 $1,105,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    Outside of Metro Areas 1 $175,000 $175,000 $0 0.00%
    Watertown Savings Bank's top markets include Boston, Barnstable Town, Port St. Lucie, Pittsfield, and Providence among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 165 $89,075,000 $539,848 $0 0.00%

    For 2021, Watertown Savings Bank's most frequently originated type of loan was Conventional, with 165 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 89 $43,385,000 $487,472 $0 0.00%
    Home Purchase 69 $39,545,000 $573,116 $0 0.00%
    Home Improvement 6 $6,070,000 $1,011,667 $0 0.00%
    Other 1 $75,000 $75,000 $0 0.00%

    For 2021, Watertown Savings Bank's most frequently cited loan purpose was Refi, with 89 originations. The 2nd most popular reason was Home Purchase, with 69 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 165 $89,075,000 $539,848 $0 0.00%

    For 2021, Watertown Savings Bank's most frequently cited loan duration was Other, with 165 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 53 $15,875,000 $299,528 $0 0.00%
    $400k-600k 39 $19,865,000 $509,359 $0 0.00%
    $600k-1MM 39 $29,435,000 $754,744 $0 0.00%
    $100k-200k 17 $2,585,000 $152,059 $0 0.00%
    $1MM+ 15 $21,165,000 $1,411,000 $0 0.00%
    $100,000 or less 2 $150,000 $75,000 $0 0.00%

    2021 saw Watertown Savings Bank place emphasis on $200k-400k loans with 53 originations, totaling $15,875,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 35 $23,265,000 $664,714 $0 0.00%
    $150k-250k 34 $14,210,000 $417,941 $0 0.00%
    $100k-150k 21 $9,765,000 $465,000 $0 0.00%
    $50k or less 17 $6,285,000 $369,706 $0 0.00%
    $50k-75k 12 $3,590,000 $299,167 $0 0.00%
    $75k-100k 12 $4,750,000 $395,833 $0 0.00%

    Watertown Savings Bank lent most frequently to those with incomes in the $250k+ range, with 35 originations. The second most popular income band? $150k-250k, with 34 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 165 $89,075,000 $539,848 $0 0.00%

    Watertown Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 165 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 119 $54,485,000 $457,857 $0 0.00%
    Not applicable 24 $22,830,000 $951,250 $0 0.00%
    Not provided 13 $7,555,000 $581,154 $0 0.00%
    Asian 6 $2,170,000 $361,667 $0 0.00%
    Asian Indian 2 $1,430,000 $715,000 $0 0.00%
    Black 1 $605,000 $605,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.51%

    Watertown Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    80.00%

    Watertown Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 165 $89,075,000 $539,848

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    165 $89,075,000 $539,848

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Watertown Savings Bank 10 Bigelow Avenue Watertown, MA 2472 Full Service B&M $185,733
    Watertown Savings Bank 1075 Waltham Street Lexington, MA 2421 Full Service B&M $78,159
    Watertown Savings Bank 175 Watertown Street Watertown, MA 2472 Full Service B&M $76,238
    Watertown Savings Bank 25 Market Place Drive Waltham, MA 2451 Full Service B&M $29,365
    Watertown Savings Bank 30 Church Street Belmont, MA 2478 Full Service B&M $112,350
    Watertown Savings Bank 45 Church Street Watertown, MA 2472 Full Service B&M $21,123
    Watertown Savings Bank 6 Lexington Street Waltham, MA 2451 Full Service B&M $116,183
    Watertown Savings Bank 60 Main Street Watertown, MA 2472 Full Service B&M $454,576
    Watertown Savings Bank 739 Main Street Watertown, MA 2472 Full Service B&M $190,019
    Watertown Savings Bank 980 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $34,361

    For 2021, Watertown Savings Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $30,420
    Net interest income $27,710
    Total noninterest income $3,765
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $605
    Trading account gains and fees $0
    Additional Noninterest Income $3,160
    Pre-tax net operating income $4,519
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,724
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,724
    Minority interest net income $0
    Net income $3,724
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,724

    Watertown Savings Bank's gross interest income from loans was $30,420,000.
    Watertown Savings Bank's net interest income from loans was $27,710,000.
    Watertown Savings Bank's fee based income from loans was $605,000.
    Watertown Savings Bank's net income from loans was $3,724,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,710
    Provision for credit losses $0
    Total noninterest expense $26,956
    Salaries and employee benefits $16,167
    Premises and equipment expense $4,678
    Additional noninterest expense $6,111
    Applicable income taxes $795
    Net charge-offs $3
    Cash dividends $0

    Watertown Savings Bank's interest expense for loans was $2,710,000.
    Watertown Savings Bank's payroll and benefits expense were $16,167,000.
    Watertown Savings Bank's property, plant and equipment expenses $4,678,000.

    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 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 $1,346,095
    Deposits held in domestic offices $1,346,095
    Deposits by Individuals, partnerships, and corporations $1,334,664
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $8,675
    Deposits by Commercial banks and other depository institutions in U.S. $2,756
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $160,063
    Demand deposits $149,301
    Nontransaction accounts $1,186,032
    Money market deposit accounts (MMDAs) $335,751
    Other savings deposits (excluding MMDAs) $570,354
    Total time deposits $279,927
    Total time and savings deposits $1,196,794
    Noninterest-bearing deposits $149,559
    Interest-bearing deposits $1,196,536
    Retail deposits $1,275,042
    IRAs and Keogh plan accounts $54,609
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,499,175
    Cash & Balances due from depository institutions $158,778
    Interest-bearing balances $149,962
    Total securities $723,761
    Federal funds sold & reverse repurchase $0
    Net loans and leases $547,796
    Loan and leases loss allowance $4,178
    Trading account assets $0
    Bank premises and fixed assets $17,260
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $51,580

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,499,175
    Total Liabilities $1,368,870
    Total deposits $1,346,095
    Interest-bearing deposits $1,196,536
    Deposits held in domestic offices $1,346,095
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $22,775

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $547,796
    Loan and leases loss allowance $4,178
    Total loans and leases (domestic) $551,974
    All real estate loans $548,188
    Real estate loans in domestic offices $548,188
    Construction and development loans $17,208
    Residential 1-4 family construction $17,208
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $35,714
    Nonfarm nonresidential secured by owner-occupied properties $18,835
    Commercial real estate & other non-farm, non-residential $16,879
    Multifamily residential real estate $10,804
    1-4 family residential loans $484,462
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $3,392
    To non-U.S. addressees $0
    Loans to individuals $598
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $15
    Other loans to individuals $583
    All other loans & leases $46
    Loans to foreign governments and official institutions $0
    Other loans $46
    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 $2,872
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Watertown Savings Bank had $547,796,000 of loans outstanding in 2021. $548,188,000 of loans were in real estate loans. $17,208,000 of loans were in development loans. $10,804,000 of loans were in multifamily mortgage loans. $484,462,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $15,000 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 62 $16,553 $266,984
    Nonfarm, nonresidential loans - <$100k 4 $70 $17,500
    Nonfarm, nonresidential loans - $100-250k 13 $1,043 $80,231
    Nonfarm, nonresidential loans - $250k-1MM 45 $15,440 $343,111
    Commercial & Industrial, US addressed loans - <$1MM 56 $3,242 $57,893
    Commercial & Industrial, US addressed loans - <$100k 45 $1,118 $24,844
    Commercial & Industrial, US addressed loans - $100-250k 4 $426 $106,500
    Commercial & Industrial, US addressed loans - $250k-1MM 7 $1,698 $242,571