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 Cash Out Refi, Refi, and Home Purchase loans. Winchester Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, and Worcester 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

    223

    Origination Dollar Volume (All Markets)

    $139,155,000

    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) 219 $137,785,000 $629,155 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $600,000 $300,000 $0 0.00%
    Outside of Metro Areas 1 $525,000 $525,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    Winchester Savings Bank's top markets include Boston, 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 223 $139,155,000 $624,013 $0 0.00%

    For 2020, Winchester Savings Bank's most frequently originated type of loan was Conventional, with 223 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 94 $47,300,000 $503,191 $0 0.00%
    Refi 77 $58,495,000 $759,675 $0 0.00%
    Home Purchase 45 $32,165,000 $714,778 $0 0.00%
    Home Improvement 4 $840,000 $210,000 $0 0.00%
    Other 3 $355,000 $118,333 $0 0.00%

    For 2020, Winchester Savings Bank's most frequently cited loan purpose was Cash Out Refi, with 94 originations. The 2nd most popular reason was Refi, with 77 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 223 $139,155,000 $624,013 $0 0.00%

    For 2020, Winchester Savings Bank's most frequently cited loan duration was Other, with 223 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $600k-1MM 66 $49,790,000 $754,394 $0 0.00%
    $200k-400k 57 $16,515,000 $289,737 $0 0.00%
    $400k-600k 53 $26,225,000 $494,811 $0 0.00%
    $1MM+ 23 $43,405,000 $1,887,174 $0 0.00%
    $100k-200k 18 $2,860,000 $158,889 $0 0.00%
    $100,000 or less 6 $360,000 $60,000 $0 0.00%

    2020 saw Winchester Savings Bank place emphasis on $600k-1MM loans with 66 originations, totaling $49,790,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 53 $27,075,000 $510,849 $0 0.00%
    $250k+ 46 $38,530,000 $837,609 $0 0.00%
    $100k-150k 45 $18,065,000 $401,444 $0 0.00%
    $75k-100k 28 $11,460,000 $409,286 $0 0.00%
    $50k-75k 11 $2,665,000 $242,273 $0 0.00%
    $50k or less 8 $1,960,000 $245,000 $0 0.00%

    Winchester Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 53 originations. The second most popular income band? $250k+, with 46 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 223 $139,155,000 $624,013 $0 0.00%

    Winchester Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 223 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 131 $65,705,000 $501,565 $0 0.00%
    Not applicable 29 $38,835,000 $1,339,138 $0 0.00%
    Not provided 57 $31,955,000 $560,614 $0 0.00%
    Asian 5 $2,325,000 $465,000 $0 0.00%
    Black 1 $335,000 $335,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.10%

    Winchester 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
    84.75%

    Winchester Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 223 $139,155,000 $624,013

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $21,055,000 $2,339,444
    Single Family (1-4 Units):Site-Built 214 $118,100,000 $551,869

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Winchester Savings Bank 188 Medford Street Arlington, MA 2474 Full Service B&M $35,158
    Winchester Savings Bank 344 Cambridge Road Woburn, MA 1801 Full Service B&M $63,476
    Winchester Savings Bank 573 Main Street Woburn, MA 1801 Full Service B&M $36,431
    Winchester Savings Bank 661 Main Street Winchester, MA 1890 Full Service B&M $386,994

    For 2020, Winchester Savings Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,399
    Net interest income $14,041
    Total noninterest income $639
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $42
    Trading account gains and fees $0
    Additional Noninterest Income $597
    Pre-tax net operating income $2,150
    Securities gains (or losses, -) $205
    Income before extraordinary items $1,800
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,800
    Minority interest net income $0
    Net income $1,800
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,638

    Winchester Savings Bank's gross interest income from loans was $18,399,000.
    Winchester Savings Bank's net interest income from loans was $14,041,000.
    Winchester Savings Bank's fee based income from loans was $42,000.
    Winchester Savings Bank's net income from loans was $1,800,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,358
    Provision for credit losses $524
    Total noninterest expense $12,006
    Salaries and employee benefits $8,047
    Premises and equipment expense $1,119
    Additional noninterest expense $2,840
    Applicable income taxes $555
    Net charge-offs $2
    Cash dividends $0

    Winchester Savings Bank's interest expense for loans was $4,358,000.
    Winchester Savings Bank's payroll and benefits expense were $8,047,000.
    Winchester Savings Bank's property, plant and equipment expenses $1,119,000.

    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 1.0%
    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 $520,025
    Deposits held in domestic offices $520,025
    Deposits by Individuals, partnerships, and corporations $518,445
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,233
    Deposits by Commercial banks and other depository institutions in U.S. $347
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $304,900
    Demand deposits $304,900
    Nontransaction accounts $215,125
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $30,154
    Total time deposits $184,971
    Total time and savings deposits $215,125
    Noninterest-bearing deposits $45,320
    Interest-bearing deposits $474,705
    Retail deposits $463,314
    IRAs and Keogh plan accounts $26,917
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $595,889
    Cash & Balances due from depository institutions $85,792
    Interest-bearing balances $69,300
    Total securities $43,453
    Federal funds sold & reverse repurchase $0
    Net loans and leases $452,021
    Loan and leases loss allowance $3,944
    Trading account assets $0
    Bank premises and fixed assets $8,396
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $6,227

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $595,889
    Total Liabilities $527,795
    Total deposits $520,025
    Interest-bearing deposits $474,705
    Deposits held in domestic offices $520,025
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,517
    Subordinated debt $0
    All other liabilities $3,253

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $452,021
    Loan and leases loss allowance $3,944
    Total loans and leases (domestic) $455,965
    All real estate loans $450,732
    Real estate loans in domestic offices $450,732
    Construction and development loans $7,511
    Residential 1-4 family construction $3,120
    Other construction, all land development and other land $4,391
    Loans secured by nonfarm nonresidential properties $65,794
    Nonfarm nonresidential secured by owner-occupied properties $28,278
    Commercial real estate & other non-farm, non-residential $37,516
    Multifamily residential real estate $40,577
    1-4 family residential loans $336,850
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $4,641
    To non-U.S. addressees $0
    Loans to individuals $564
    Credit card loans $0
    Related Plans $25
    Consumer Auto Loans $319
    Other loans to individuals $220
    All other loans & leases $28
    Loans to foreign governments and official institutions $0
    Other loans $28
    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 $452,021,000 of loans outstanding in 2020. $450,732,000 of loans were in real estate loans. $7,511,000 of loans were in development loans. $40,577,000 of loans were in multifamily mortgage loans. $336,850,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $319,000 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 60 $19,105 $318,417
    Nonfarm, nonresidential loans - $100-250k 11 $1,155 $105,000
    Nonfarm, nonresidential loans - $250k-1MM 49 $17,950 $366,327
    Commercial & Industrial, US addressed loans - <$1MM 41 $3,401 $82,951
    Commercial & Industrial, US addressed loans - <$100k 21 $460 $21,905
    Commercial & Industrial, US addressed loans - $100-250k 7 $464 $66,286
    Commercial & Industrial, US addressed loans - $250k-1MM 13 $2,477 $190,538