Winchester Savings Bank Mortgage Rates, Fees & Info
Winchester, MA
LEI: 549300B1DHIVKN5DEJ29
Tax ID: 01-1978230
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Mortgage Data
Bank Data
Overview
Winchester Savings Bank is a
smaller
bank
specializing in
Cash Out Refi, Refi, and Home Purchase loans.
Winchester Savings Bank has a high proportion of conventional loans.
Their top markets include Boston, Barnstable Town, Vineyard Haven, Laconia, and Manchester among others. Winchester Savings Bank has
an above average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Originations
218
Origination Dollar Volume (All Markets)
$131,310,000
Employee count
75
Top Markets
Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA)
|
209
|
$127,115,000 |
$608,206 |
$0 |
0.00% |
BARNSTABLE TOWN, MA (FHA|USDA|VA)
|
4
|
$1,290,000 |
$322,500 |
$0 |
0.00% |
Vineyard Haven, MA (FHA|USDA|VA)
|
1
|
$1,195,000 |
$1,195,000 |
$0 |
0.00% |
Laconia, NH (FHA|USDA|VA)
|
1
|
$625,000 |
$625,000 |
$0 |
0.00% |
MANCHESTER-NASHUA, NH (FHA|USDA|VA)
|
1
|
$445,000 |
$445,000 |
$0 |
0.00% |
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA)
|
1
|
$405,000 |
$405,000 |
$0 |
0.00% |
WORCESTER, MA-CT (FHA|USDA|VA)
|
1
|
$235,000 |
$235,000 |
$0 |
0.00% |
Winchester Savings Bank's top markets include Boston, Barnstable Town, Vineyard Haven, Laconia, and Manchester among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
218 |
$131,310,000 |
$602,339 |
$0 |
0.00% |
For the 2021 period, Winchester Savings Bank's most frequently
originated loan type
of loans were Conventional, with 218 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Cash Out Refi |
88 |
$45,080,000 |
$512,273 |
$0 |
0.00% |
Refi |
76 |
$46,360,000 |
$610,000 |
$0 |
0.00% |
Home Purchase |
47 |
$37,615,000 |
$800,319 |
$0 |
0.00% |
Other |
5 |
$1,465,000 |
$293,000 |
$0 |
0.00% |
Home Improvement |
2 |
$790,000 |
$395,000 |
$0 |
0.00% |
For the 2021, Winchester Savings Bank's most frequently cited loan
purpose
of loans were Cash Out Refi, with 88
originations.
The 2nd most popular reason of loans were Refi,
with 76 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Other |
218 |
$131,310,000 |
$602,339 |
$0 |
0.00% |
For the 2021, Winchester Savings Bank's most frequently cited loan
length
of loans were Other, with 218 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$200k-400k |
71 |
$20,465,000 |
$288,239 |
$0 |
0.00% |
$400k-600k |
46 |
$22,400,000 |
$486,957 |
$0 |
0.00% |
$600k-1MM |
46 |
$34,300,000 |
$745,652 |
$0 |
0.00% |
$1MM+ |
29 |
$50,385,000 |
$1,737,414 |
$0 |
0.00% |
$100k-200k |
23 |
$3,585,000 |
$155,870 |
$0 |
0.00% |
$100,000 or less |
3 |
$175,000 |
$58,333 |
$0 |
0.00% |
2021 saw Winchester Savings Bank place emphasis on
$200k-400k loans
with 71 originations, totaling
$20,465,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$100k-150k |
50 |
$19,010,000 |
$380,200 |
$0 |
0.00% |
$250k+ |
47 |
$41,405,000 |
$880,957 |
$0 |
0.00% |
$150k-250k |
44 |
$22,080,000 |
$501,818 |
$0 |
0.00% |
$75k-100k |
28 |
$10,510,000 |
$375,357 |
$0 |
0.00% |
$50k-75k |
15 |
$3,175,000 |
$211,667 |
$0 |
0.00% |
$50k or less |
6 |
$1,290,000 |
$215,000 |
$0 |
0.00% |
Winchester Savings Bank lent most frequently to those with incomes in the
$100k-150k range, with
50 originations.
The second most popular income band? $250k+,
with 47 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Exempt% |
218 |
$131,310,000 |
$602,339 |
$0 |
0.00% |
Winchester Savings Bank lent most frequently to those with DTI ratios
of Exempt%, with
218 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
White |
126 |
$61,140,000 |
$485,238 |
$0 |
0.00% |
Not provided |
58 |
$33,870,000 |
$583,966 |
$0 |
0.00% |
Not applicable |
27 |
$33,665,000 |
$1,246,852 |
$0 |
0.00% |
Asian |
3 |
$1,215,000 |
$405,000 |
$0 |
0.00% |
Other Asian |
1 |
$635,000 |
$635,000 |
$0 |
0.00% |
American Indian |
1 |
$485,000 |
$485,000 |
$0 |
0.00% |
Black |
2 |
$300,000 |
$150,000 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
94.09%
Winchester Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination
86.36%
Winchester Savings Bank has an average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
Exempt |
218 |
$131,310,000 |
$602,339 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
218 |
$131,310,000 |
$602,339 |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
Winchester Savings Bank |
188 Medford Street Arlington, MA 2474 |
Full Service B&M
|
$31,195 |
Winchester Savings Bank |
344 Cambridge Road Woburn, MA 1801 |
Full Service B&M
|
$62,764 |
Winchester Savings Bank |
573 Main Street Woburn, MA 1801 |
Full Service B&M
|
$36,099 |
Winchester Savings Bank |
661 Main St Winchester, MA 1890 |
Full Service B&M
|
$398,926 |
For 2021, Winchester Savings Bank had 4 branches.
Yearly Performance Overview
Bank Income
Winchester Savings Bank's gross interest income from loans was $16,978,000.
Winchester Savings Bank's net interest income from loans was $14,748,000.
Winchester Savings Bank's fee based income from loans was $69,000.
Winchester Savings Bank's net income from loans was $2,554,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$2,230 |
Provision for credit losses |
$50 |
Total noninterest expense |
$12,629 |
Salaries and employee benefits |
$8,296 |
Premises and equipment expense |
$1,332 |
Additional noninterest expense |
$3,001 |
Applicable income taxes |
$851 |
Net charge-offs |
$0 |
Cash dividends |
$0 |
Winchester Savings Bank's interest expense for loans was $2,230,000.
Winchester Savings Bank's payroll and benefits expense were $8,296,000.
Winchester Savings Bank's property, plant and equipment expenses $1,332,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$548,281 |
Deposits held in domestic offices |
$548,281 |
Deposits by Individuals, partnerships, and corporations |
$546,476 |
Deposits by U.S. Government |
$0 |
Deposits by States and political subdivisions in the U.S. |
$1,230 |
Deposits by Commercial banks and other depository institutions in U.S. |
$575 |
Deposits by Banks in foreign countries |
$0 |
Deposits by Foreign governments and official institutions |
$0 |
Transaction accounts |
$138,801 |
Demand deposits |
$138,801 |
Nontransaction accounts |
$409,480 |
Money market deposit accounts (MMDAs) |
$113,011 |
Other savings deposits (excluding MMDAs) |
$121,333 |
Total time deposits |
$175,136 |
Total time and savings deposits |
$409,480 |
Noninterest-bearing deposits |
$51,404 |
Interest-bearing deposits |
$496,877 |
Retail deposits |
$491,257 |
IRAs and Keogh plan accounts |
$25,316 |
Brokered deposits |
$0 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$627,989 |
Cash & Balances due from depository institutions |
$78,773 |
Interest-bearing balances |
$66,274 |
Total securities |
$74,413 |
Federal funds sold & reverse repurchase |
$0 |
Net loans and leases |
$459,556 |
Loan and leases loss allowance |
$3,994 |
Trading account assets |
$0 |
Bank premises and fixed assets |
$7,909 |
Other real estate owned |
$0 |
Goodwill and other intangibles |
$0 |
All other assets |
$7,338 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$627,989 |
Total Liabilities |
$556,381 |
Total deposits |
$548,281 |
Interest-bearing deposits |
$496,877 |
Deposits held in domestic offices |
$548,281 |
% insured (estimated) |
$81 |
Federal funds purchased and repurchase agreements |
$0 |
Trading liabilities |
$0 |
Other borrowed funds |
$6,000 |
Subordinated debt |
$0 |
All other liabilities |
$2,100 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$459,556 |
Loan and leases loss allowance |
$3,994 |
Total loans and leases (domestic) |
$463,550 |
All real estate loans |
$458,582 |
Real estate loans in domestic offices |
$458,582 |
Construction and development loans |
$16,487 |
Residential 1-4 family construction |
$2,102 |
Other construction, all land development and other land |
$14,385 |
Loans secured by nonfarm nonresidential properties |
$65,207 |
Nonfarm nonresidential secured by owner-occupied properties |
$29,842 |
Commercial real estate & other non-farm, non-residential |
$35,365 |
Multifamily residential real estate |
$45,817 |
1-4 family residential loans |
$331,071 |
Farmland loans |
$0 |
Loans held in foreign offices |
$0 |
Farm loans |
$0 |
Commercial and industrial loans |
$4,455 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$474 |
Credit card loans |
$0 |
Related Plans |
$31 |
Consumer Auto Loans |
$188 |
Other loans to individuals |
$255 |
All other loans & leases |
$39 |
Loans to foreign governments and official institutions |
$0 |
Other loans |
$39 |
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 |
$0 |
Non 1-4 family restructured loans & leases |
$0 |
Total loans and leases (foreign) |
$0 |
Winchester Savings Bank had $459,556,000 of loans outstanding in 2021. $458,582,000 of loans were in real estate loans.
$16,487,000 of loans were in development loans. $45,817,000 of loans were in multifamily mortgage loans.
$331,071,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $188,000 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 |
56 |
$17,206 |
$307,250 |
Nonfarm, nonresidential loans - $100-250k |
10 |
$1,042 |
$104,200 |
Nonfarm, nonresidential loans - $250k-1MM |
46 |
$16,164 |
$351,391 |
Commercial & Industrial, US addressed loans - <$1MM |
32 |
$3,819 |
$119,344 |
Commercial & Industrial, US addressed loans - <$100k |
14 |
$155 |
$11,071 |
Commercial & Industrial, US addressed loans - $100-250k |
5 |
$287 |
$57,400 |
Commercial & Industrial, US addressed loans - $250k-1MM |
13 |
$3,377 |
$259,769 |