Winchester Savings Bank Mortgage Rates, Fees & Info

Winchester, MA

LEI: 549300B1DHIVKN5DEJ29

Tax ID: 01-1978230

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

    Winchester Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Winchester Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Laconia, Manchester, and Worcester among others. We have data for 6 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.

    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

    143

    Origination Dollar Volume (All Markets)

    $73,605,000

    Employee count

    79

    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) 134 $69,670,000 $519,925 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 4 $2,830,000 $707,500 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 1 $545,000 $545,000 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $240,000 $120,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    Winchester Savings Bank's top markets include Boston, Barnstable Town, Laconia, Manchester, and Worcester 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 143 $73,605,000 $514,720 $0 0.00%

    For 2019, Winchester Savings Bank's most frequently originated type of loan was Conventional, with 143 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 63 $36,625,000 $581,349 $0 0.00%
    Cash Out Refi 42 $20,970,000 $499,286 $0 0.00%
    Refi 22 $14,630,000 $665,000 $0 0.00%
    Home Improvement 8 $780,000 $97,500 $0 0.00%
    Other 8 $600,000 $75,000 $0 0.00%

    For 2019, Winchester Savings Bank's most frequently cited loan purpose was Home Purchase, with 63 originations. The 2nd most popular reason was Cash Out Refi, with 42 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 143 $73,605,000 $514,720 $0 0.00%

    For 2019, Winchester Savings Bank's most frequently cited loan duration was Other, with 143 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 37 $10,675,000 $288,514 $0 0.00%
    $400k-600k 34 $17,450,000 $513,235 $0 0.00%
    $600k-1MM 29 $20,845,000 $718,793 $0 0.00%
    $100,000 or less 18 $1,000,000 $55,556 $0 0.00%
    $1MM+ 15 $22,155,000 $1,477,000 $0 0.00%
    $100k-200k 10 $1,480,000 $148,000 $0 0.00%

    2019 saw Winchester Savings Bank place emphasis on $200k-400k loans with 37 originations, totaling $10,675,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 29 $15,945,000 $549,828 $0 0.00%
    $250k+ 29 $23,165,000 $798,793 $0 0.00%
    $100k-150k 27 $10,115,000 $374,630 $0 0.00%
    $75k-100k 16 $4,020,000 $251,250 $0 0.00%
    $50k-75k 14 $3,460,000 $247,143 $0 0.00%
    $50k or less 6 $1,430,000 $238,333 $0 0.00%

    Winchester Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 29 originations. The second most popular income band? $250k+, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 143 $73,605,000 $514,720 $0 0.00%

    Winchester Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 143 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 90 $43,110,000 $479,000 $0 0.00%
    Not applicable 22 $15,470,000 $703,182 $0 0.00%
    Not provided 20 $9,390,000 $469,500 $0 0.00%
    Asian 5 $3,185,000 $637,000 $0 0.00%
    Black 5 $1,745,000 $349,000 $0 0.00%
    Chinese 1 $705,000 $705,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.01%

    Winchester Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.82%

    Winchester Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 143 $73,605,000 $514,720

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $8,735,000 $1,247,857
    Single Family (1-4 Units):Site-Built 136 $64,870,000 $476,985

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Winchester Savings Bank 188 Medford Street Arlington, MA 2474 Full Service B&M $39,559
    Winchester Savings Bank 344 Cambridge Road Woburn, MA 1801 Full Service B&M $49,506
    Winchester Savings Bank 573 Main Street Woburn, MA 1801 Full Service B&M $33,655
    Winchester Savings Bank 661 Main Street Winchester, MA 1890 Full Service B&M $354,082

    For 2019, Winchester Savings Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,757
    Net interest income $14,056
    Total noninterest income $683
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $91
    Trading account gains and fees $0
    Additional Noninterest Income $592
    Pre-tax net operating income $2,439
    Securities gains (or losses, -) $47
    Income before extraordinary items $1,941
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,941
    Minority interest net income $0
    Net income $1,941
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,903

    Winchester Savings Bank's gross interest income from loans was $19,757,000.
    Winchester Savings Bank's net interest income from loans was $14,056,000.
    Winchester Savings Bank's fee based income from loans was $91,000.
    Winchester Savings Bank's net income from loans was $1,941,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,701
    Provision for credit losses $41
    Total noninterest expense $12,259
    Salaries and employee benefits $7,722
    Premises and equipment expense $1,247
    Additional noninterest expense $3,290
    Applicable income taxes $545
    Net charge-offs $-10
    Cash dividends $0

    Winchester Savings Bank's interest expense for loans was $5,701,000.
    Winchester Savings Bank's payroll and benefits expense were $7,722,000.
    Winchester Savings Bank's property, plant and equipment expenses $1,247,000.

    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 $498,226
    Deposits held in domestic offices $498,226
    Deposits by Individuals, partnerships, and corporations $496,628
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,259
    Deposits by Commercial banks and other depository institutions in U.S. $339
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $111,035
    Demand deposits $111,035
    Nontransaction accounts $387,191
    Money market deposit accounts (MMDAs) $70,154
    Other savings deposits (excluding MMDAs) $107,383
    Total time deposits $209,654
    Total time and savings deposits $387,191
    Noninterest-bearing deposits $40,974
    Interest-bearing deposits $457,252
    Retail deposits $431,101
    IRAs and Keogh plan accounts $28,213
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $577,307
    Cash & Balances due from depository institutions $42,002
    Interest-bearing balances $32,735
    Total securities $78,494
    Federal funds sold & reverse repurchase $9,465
    Net loans and leases $433,598
    Loan and leases loss allowance $3,422
    Trading account assets $0
    Bank premises and fixed assets $7,977
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $5,771

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $577,307
    Total Liabilities $509,448
    Total deposits $498,226
    Interest-bearing deposits $457,252
    Deposits held in domestic offices $498,226
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $9,446
    Subordinated debt $0
    All other liabilities $1,776

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $433,598
    Loan and leases loss allowance $3,422
    Total loans and leases (domestic) $437,020
    All real estate loans $430,897
    Real estate loans in domestic offices $430,897
    Construction and development loans $10,661
    Residential 1-4 family construction $5,626
    Other construction, all land development and other land $5,035
    Loans secured by nonfarm nonresidential properties $67,715
    Nonfarm nonresidential secured by owner-occupied properties $28,832
    Commercial real estate & other non-farm, non-residential $38,883
    Multifamily residential real estate $26,496
    1-4 family residential loans $326,025
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $5,264
    To non-U.S. addressees $0
    Loans to individuals $788
    Credit card loans $0
    Related Plans $45
    Consumer Auto Loans $522
    Other loans to individuals $221
    All other loans & leases $71
    Loans to foreign governments and official institutions $0
    Other loans $71
    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 $433,598,000 of loans outstanding in 2019. $430,897,000 of loans were in real estate loans. $10,661,000 of loans were in development loans. $26,496,000 of loans were in multifamily mortgage loans. $326,025,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $522,000 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 63 $18,798 $298,381
    Nonfarm, nonresidential loans - <$100k 2 $97 $48,500
    Nonfarm, nonresidential loans - $100-250k 12 $1,362 $113,500
    Nonfarm, nonresidential loans - $250k-1MM 49 $17,339 $353,857
    Commercial & Industrial, US addressed loans - <$1MM 48 $3,871 $80,646
    Commercial & Industrial, US addressed loans - <$100k 28 $552 $19,714
    Commercial & Industrial, US addressed loans - $100-250k 10 $707 $70,700
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $2,612 $261,200