Winchester Savings Bank Mortgage Rates, Fees & Info

Winchester, MA

LEI: 549300B1DHIVKN5DEJ29

Tax ID: 01-1978230

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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

    Winchester Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Winchester Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, and Barnstable Town among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Winchester 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

    149

    Origination Dollar Volume (All Markets)

    $75,415,000

    Employee count

    80

    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) 141 $72,415,000 $513,582 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 5 $2,055,000 $411,000 $0 0.00%
    Outside of Metro Areas 1 $545,000 $545,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $400,000 $200,000 $0 0.00%
    Winchester Savings Bank's top markets include Boston, Worcester, and Barnstable Town among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 149 $75,415,000 $506,141 $0 0.00%

    For 2018, Winchester Savings Bank's most frequently originated type of loan was Conventional, with 149 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 58 $30,680,000 $528,966 $0 0.00%
    Refi 41 $27,825,000 $678,659 $0 0.00%
    Cash Out Refi 34 $14,640,000 $430,588 $0 0.00%
    Home Improvement 8 $1,380,000 $172,500 $0 0.00%
    Other 8 $890,000 $111,250 $0 0.00%

    For 2018, Winchester Savings Bank's most frequently cited loan purpose was Home Purchase, with 58 originations. The 2nd most popular reason was Refi, with 41 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 149 $75,415,000 $506,141 $0 0.00%

    For 2018, Winchester Savings Bank's most frequently cited loan duration was Other, with 149 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 40 $29,910,000 $747,750 $0 0.00%
    $400k-600k 37 $18,155,000 $490,676 $0 0.00%
    $200k-400k 34 $10,430,000 $306,765 $0 0.00%
    $100,000 or less 15 $705,000 $47,000 $0 0.00%
    $100k-200k 14 $2,000,000 $142,857 $0 0.00%
    $1MM+ 9 $14,215,000 $1,579,444 $0 0.00%

    2018 saw Winchester Savings Bank place emphasis on $600k-1MM loans with 40 originations, totaling $29,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 35 $14,335,000 $409,571 $0 0.00%
    $250k+ 27 $15,345,000 $568,333 $0 0.00%
    $100k-150k 23 $6,705,000 $291,522 $0 0.00%
    $50k-75k 16 $6,210,000 $388,125 $0 0.00%
    $75k-100k 6 $1,950,000 $325,000 $0 0.00%
    $50k or less 3 $505,000 $168,333 $0 0.00%

    Winchester Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 35 originations. The second most popular income band? $250k+, with 27 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 149 $75,415,000 $506,141 $0 0.00%

    Winchester Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 149 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 88 $37,560,000 $426,818 $0 0.00%
    Not applicable 35 $29,565,000 $844,714 $0 0.00%
    Not provided 20 $6,730,000 $336,500 $0 0.00%
    Asian 5 $1,205,000 $241,000 $0 0.00%
    Other Asian 1 $355,000 $355,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.09%

    Winchester Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.89%

    Winchester Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 149 $75,415,000 $506,141

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $9,710,000 $1,213,750
    Single Family (1-4 Units):Site-Built 141 $65,705,000 $465,993

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Winchester Savings Bank 188 Medford Street Arlington, MA 2474 Full Service B&M $26,681
    Winchester Savings Bank 344 Cambridge Road Woburn, MA 1801 Full Service B&M $51,398
    Winchester Savings Bank 573 Main Street Woburn, MA 1801 Full Service B&M $31,694
    Winchester Savings Bank 661 Main Street Winchester, MA 1890 Full Service B&M $352,004

    For 2018, Winchester Savings Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,108
    Net interest income $14,691
    Total noninterest income $653
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $95
    Trading account gains and fees $0
    Additional Noninterest Income $558
    Pre-tax net operating income $3,212
    Securities gains (or losses, -) $-47
    Income before extraordinary items $2,382
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,382
    Minority interest net income $0
    Net income $2,382
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,419

    Winchester Savings Bank's gross interest income from loans was $18,108,000.
    Winchester Savings Bank's net interest income from loans was $14,691,000.
    Winchester Savings Bank's fee based income from loans was $95,000.
    Winchester Savings Bank's net income from loans was $2,382,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,417
    Provision for credit losses $230
    Total noninterest expense $11,902
    Salaries and employee benefits $7,503
    Premises and equipment expense $1,220
    Additional noninterest expense $3,179
    Applicable income taxes $783
    Net charge-offs $-6
    Cash dividends $0

    Winchester Savings Bank's interest expense for loans was $3,417,000.
    Winchester Savings Bank's payroll and benefits expense were $7,503,000.
    Winchester Savings Bank's property, plant and equipment expenses $1,220,000.

    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 2.0%
    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 $460,034
    Deposits held in domestic offices $460,034
    Deposits by Individuals, partnerships, and corporations $458,648
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,054
    Deposits by Commercial banks and other depository institutions in U.S. $332
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $100,468
    Demand deposits $100,468
    Nontransaction accounts $359,566
    Money market deposit accounts (MMDAs) $32,117
    Other savings deposits (excluding MMDAs) $146,171
    Total time deposits $181,278
    Total time and savings deposits $359,566
    Noninterest-bearing deposits $34,374
    Interest-bearing deposits $425,660
    Retail deposits $414,815
    IRAs and Keogh plan accounts $29,245
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $542,386
    Cash & Balances due from depository institutions $18,674
    Interest-bearing balances $6,977
    Total securities $88,858
    Federal funds sold & reverse repurchase $1,174
    Net loans and leases $418,825
    Loan and leases loss allowance $3,371
    Trading account assets $0
    Bank premises and fixed assets $8,096
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,759

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $542,386
    Total Liabilities $476,221
    Total deposits $460,034
    Interest-bearing deposits $425,660
    Deposits held in domestic offices $460,034
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $14,403
    Subordinated debt $0
    All other liabilities $1,784

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $418,825
    Loan and leases loss allowance $3,371
    Total loans and leases (domestic) $422,196
    All real estate loans $414,655
    Real estate loans in domestic offices $414,655
    Construction and development loans $8,228
    Residential 1-4 family construction $4,280
    Other construction, all land development and other land $3,948
    Loans secured by nonfarm nonresidential properties $65,038
    Nonfarm nonresidential secured by owner-occupied properties $29,898
    Commercial real estate & other non-farm, non-residential $35,140
    Multifamily residential real estate $25,751
    1-4 family residential loans $315,638
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $6,522
    To non-U.S. addressees $0
    Loans to individuals $958
    Credit card loans $0
    Related Plans $43
    Consumer Auto Loans $720
    Other loans to individuals $195
    All other loans & leases $61
    Loans to foreign governments and official institutions $0
    Other loans $61
    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 $418,825,000 of loans outstanding in 2018. $414,655,000 of loans were in real estate loans. $8,228,000 of loans were in development loans. $25,751,000 of loans were in multifamily mortgage loans. $315,638,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $720,000 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 71 $22,347 $314,746
    Nonfarm, nonresidential loans - <$100k 3 $180 $60,000
    Nonfarm, nonresidential loans - $100-250k 14 $1,421 $101,500
    Nonfarm, nonresidential loans - $250k-1MM 54 $20,746 $384,185
    Commercial & Industrial, US addressed loans - <$1MM 50 $4,987 $99,740
    Commercial & Industrial, US addressed loans - <$100k 32 $642 $20,063
    Commercial & Industrial, US addressed loans - $100-250k 11 $1,291 $117,364
    Commercial & Industrial, US addressed loans - $250k-1MM 7 $3,054 $436,286