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

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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, Barnstable Town, Vineyard Haven, Laconia, and Manchester among others. We have data for 7 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 an above 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

    218

    Origination Dollar Volume (All Markets)

    $131,310,000

    Employee count

    75

    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) 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.

    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 218 $131,310,000 $602,339 $0 0.00%

    For 2021, Winchester Savings Bank's most frequently originated type of loan was Conventional, with 218 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Winchester Savings Bank's most frequently cited loan purpose was Cash Out Refi, with 88 originations. The 2nd most popular reason was 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 2021, Winchester Savings Bank's most frequently cited loan duration was 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
    93.41%

    Winchester Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.66%

    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

    Item Value (in 000's)
    Total interest income $16,978
    Net interest income $14,748
    Total noninterest income $781
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $69
    Trading account gains and fees $0
    Additional Noninterest Income $712
    Pre-tax net operating income $2,850
    Securities gains (or losses, -) $555
    Income before extraordinary items $2,554
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,554
    Minority interest net income $0
    Net income $2,554
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,115

    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.

    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 $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