North Shore Bank A Co-operative Bank Mortgage Rates, Fees & Info

Peabody, MA

LEI: 549300B3J2ZHX7QFH171

Tax ID: 04-3414678

Latest/2024 | 2023 Data | 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
  • Complaints
  • Similar Lenders
  • 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

    North Shore Bank A Co-operative Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. North Shore Bank A Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, Manchester, and Concord among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    North Shore Bank A Co-operative Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. North Shore Bank A Co-operative Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    418

    Origination Dollar Volume (All Markets)

    $142,700,000

    Employee count

    207

    Awards

    North Shore Bank a Co-operative Bank 30 Year Conventional Loans gold
    Show all (1) awards

    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) 405 $139,035,000 $343,296 $3,872 3.71%
    WORCESTER, MA-CT (FHA|USDA|VA) 5 $1,355,000 $271,000 $3,105 3.83%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $830,000 $415,000 $4,362 3.43%
    Outside of Metro Areas 2 $690,000 $345,000 $3,331 3.81%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $350,000 $175,000 $0 3.68%
    Concord, NH (FHA|USDA|VA) 1 $285,000 $285,000 $3,011 3.75%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $155,000 $155,000 $2,660 3.63%
    North Shore Bank A Co-operative Bank's top markets include Boston, Worcester, Barnstable Town, Manchester, and Concord among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against North Shore Bank a Co-operative Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Piscataqua Savings Bank
    Similarity Rank: 118
    First Ipswich Bank
    Similarity Rank: 139
    Middlesex Savings Bank
    Similarity Rank: 310
    St. Anne's Credit Union of Fall River, Mass.
    Similarity Rank: 417
    QUINCY CREDIT UNION
    Similarity Rank: 435
    Members Plus Credit Union
    Similarity Rank: 505
    Sharon & Crescent United Credit Union
    Similarity Rank: 525
    Bristol County Savings Bank
    Similarity Rank: 544
    Milford Federal Bank
    Similarity Rank: 570
    St. Mary's Credit Union
    Similarity Rank: 630

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 273 $125,725,000 $460,531 $3,845 4.10%
    HELOC 145 $16,975,000 $117,069 n/a 2.98%

    For 2019, North Shore Bank A Co-operative Bank's most frequently originated type of loan was Conventional, with 273 originations. Their 2nd most popular type was HELOC, with 145 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 132 $54,900,000 $415,909 $4,006 4.18%
    Refi 99 $23,005,000 $232,374 $3,446 3.48%
    Cash Out Refi 81 $50,115,000 $618,704 $3,857 3.98%
    Home Improvement 70 $10,240,000 $146,286 $4,482 3.18%
    Other 36 $4,440,000 $123,333 $2,967 3.08%

    For 2019, North Shore Bank A Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 132 originations. The 2nd most popular reason was Refi, with 99 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 175 $56,885,000 $325,057 $3,826 3.89%
    20 Year 152 $19,500,000 $128,289 $5,356 3.03%
    10 Year 38 $34,210,000 $900,263 $2,858 4.49%
    15 Year 23 $5,495,000 $238,913 $3,139 3.51%
    Other 14 $16,790,000 $1,199,286 $0 5.37%
    1 Year 9 $6,465,000 $718,333 $0 5.83%
    30+ year 5 $2,755,000 $551,000 $7,440 4.08%
    3 Year 1 $395,000 $395,000 $0 6.00%
    5 Year 1 $205,000 $205,000 $0 4.80%

    For 2019, North Shore Bank A Co-operative Bank's most frequently cited loan duration was 30 Year, with 175 originations. The 2nd most popular length was 20 Year, with 152 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 145 $44,745,000 $308,586
    $1k-2k 28 $8,290,000 $296,071
    $2k-3k 13 $4,515,000 $347,308
    $5k+ 9 $3,765,000 $418,333
    $4k-5k 7 $2,205,000 $315,000
    $3k-4k 6 $1,830,000 $305,000

    North Shore Bank A Co-operative Bank's average total fees were $3,826, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 145 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 167 $51,885,000 $310,689
    2.5-3% 147 $17,465,000 $118,810
    4-5% 78 $59,650,000 $764,744
    5-6% 18 $10,010,000 $556,111
    6-7% 8 $3,690,000 $461,250

    During 2019, North Shore Bank A Co-operative Bank's average interest rate for loans was 3.89%, while their most frequently originated rate bucket for loans was 3-4%, with 167 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 178 $52,770,000 $296,461 $3,719 3.91%
    $100k-200k 86 $12,210,000 $141,977 $2,901 3.32%
    $100,000 or less 77 $4,485,000 $58,247 $2,911 3.07%
    $400k-600k 43 $19,685,000 $457,791 $5,405 4.10%
    $600k-1MM 21 $15,725,000 $748,810 $4,820 4.61%
    $1MM+ 13 $37,825,000 $2,909,615 $0 4.73%

    2019 saw North Shore Bank A Co-operative Bank place emphasis on $200k-400k loans with 178 originations, totaling $52,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 107 $22,905,000 $214,065 $3,924 3.45%
    $150k-250k 77 $21,785,000 $282,922 $4,318 3.45%
    $75k-100k 64 $13,680,000 $213,750 $4,006 3.50%
    $50k-75k 56 $11,750,000 $209,821 $3,511 3.67%
    $250k+ 33 $13,115,000 $397,424 $3,723 3.69%
    $50k or less 17 $1,865,000 $109,706 $2,961 3.53%

    North Shore Bank A Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 107 originations. The second most popular income band? $150k-250k, with 77 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 89 $20,005,000 $224,775 $3,865 3.48%
    30-36% 66 $15,010,000 $227,424 $3,506 3.50%
    42% 29 $7,675,000 $264,655 $4,525 3.43%
    41% 25 $5,065,000 $202,600 $4,509 3.26%
    <20% 23 $6,135,000 $266,739 $3,643 3.48%
    40% 17 $2,665,000 $156,765 $4,926 3.35%
    39% 17 $4,415,000 $259,706 $3,367 3.56%
    37% 15 $4,185,000 $279,000 $4,102 3.54%
    36% 14 $2,890,000 $206,429 $3,645 3.50%
    43% 14 $3,130,000 $223,571 $3,169 3.58%
    38% 14 $3,150,000 $225,000 $3,902 3.32%
    46% 9 $2,235,000 $248,333 $4,128 3.54%
    44% 8 $2,830,000 $353,750 $4,326 3.89%
    45% 8 $2,060,000 $257,500 $3,185 3.80%
    49% 4 $1,250,000 $312,500 $3,667 3.59%
    47% 3 $735,000 $245,000 $3,299 4.25%
    48% 2 $480,000 $240,000 $3,458 3.43%
    50-60% 2 $370,000 $185,000 $6,268 3.37%

    North Shore Bank A Co-operative Bank lent most frequently to those with DTI ratios of 20-30%, with 89 originations. The next most common DTI ratio? 30-36%, with 66 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 346 $84,000,000 $242,775 $3,873 3.53%
    Not applicable 53 $55,345,000 $1,044,245 $0 5.05%
    Asian 5 $1,475,000 $295,000 $2,949 3.89%
    Not provided 7 $905,000 $129,286 $3,102 3.23%
    Black 5 $745,000 $149,000 $2,635 3.22%
    American Indian 2 $230,000 $115,000 $0 2.99%

    Approval Rates

    Total approvals of all applications
    88.41%

    North Shore Bank A Co-operative Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.65%

    North Shore Bank A Co-operative Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 418 $142,700,000 $341,388

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 21 $39,885,000 $1,899,286
    Single Family (1-4 Units):Site-Built 397 $102,815,000 $258,980

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 90 $17,290,000 $192,111 $3,061 3.33%
    40-60% 84 $38,520,000 $458,571 $3,500 3.93%
    60-80% 107 $62,365,000 $582,850 $4,560 4.28%
    80-100% 56 $18,730,000 $334,464 $3,753 3.89%
    Under 20% 81 $5,795,000 $71,543 $2,869 3.04%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    NORTHWEST BANCSHARES INC Other type of mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    North Shore Bank, a Co-operative Bank 1 West Main Street Merrimac, MA 1860 Full Service B&M $56,488
    North Shore Bank, a Co-operative Bank 140 Brimbal Avenue Beverly, MA 1915 Full Service B&M $33,556
    North Shore Bank, a Co-operative Bank 237 South Main Street Middleton, MA 1949 Full Service B&M $58,114
    North Shore Bank, a Co-operative Bank 248 Andover Street Peabody, MA 1960 Full Service B&M $97,973
    North Shore Bank, a Co-operative Bank 29 South Main Street Newton, NH 3858 Full Service B&M $31,305
    North Shore Bank, a Co-operative Bank 319 Highland Avenue Salem, MA 1970 Full Service B&M $42,874
    North Shore Bank, a Co-operative Bank 32 Main Street Peabody, MA 1960 Full Service B&M $118,983
    North Shore Bank, a Co-operative Bank 412 Lynn Fells Parkway Saugus, MA 1906 Full Service B&M $48,253
    North Shore Bank, a Co-operative Bank 48 Elm Street Danvers, MA 1923 Full Service B&M $76,222
    North Shore Bank, a Co-operative Bank 489 Lincoln Avenue Saugus, MA 1906 Full Service B&M $73,724
    North Shore Bank, a Co-operative Bank 637 Lowell Street Peabody, MA 1960 Full Service Retail $28,868
    North Shore Bank, a Co-operative Bank One Hamilton Street Saugus, MA 1906 Full Service B&M $68,125

    For 2019, North Shore Bank A Co-operative Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $43,538
    Net interest income $35,155
    Total noninterest income $3,383
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,018
    Trading account gains and fees $0
    Additional Noninterest Income $2,365
    Pre-tax net operating income $9,497
    Securities gains (or losses, -) $114
    Income before extraordinary items $7,123
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,123
    Minority interest net income $0
    Net income $7,123
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,032

    North Shore Bank A Co-operative Bank's gross interest income from loans was $43,538,000.
    North Shore Bank A Co-operative Bank's net interest income from loans was $35,155,000.
    North Shore Bank A Co-operative Bank's fee based income from loans was $1,018,000.
    North Shore Bank A Co-operative Bank's net income from loans was $7,123,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,383
    Provision for credit losses $1,230
    Total noninterest expense $27,811
    Salaries and employee benefits $16,397
    Premises and equipment expense $3,685
    Additional noninterest expense $7,729
    Applicable income taxes $2,488
    Net charge-offs $34
    Cash dividends $5,300

    North Shore Bank A Co-operative Bank's interest expense for loans was $8,383,000.
    North Shore Bank A Co-operative Bank's payroll and benefits expense were $16,397,000.
    North Shore Bank A Co-operative Bank's property, plant and equipment expenses $3,685,000.

    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 0.0%
    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 $1,160,786
    Deposits held in domestic offices $1,160,786
    Deposits by Individuals, partnerships, and corporations $1,094,117
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $66,669
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $76,651
    Demand deposits $54,628
    Nontransaction accounts $1,084,135
    Money market deposit accounts (MMDAs) $260,882
    Other savings deposits (excluding MMDAs) $448,379
    Total time deposits $374,874
    Total time and savings deposits $1,106,158
    Noninterest-bearing deposits $235,808
    Interest-bearing deposits $924,978
    Retail deposits $1,056,883
    IRAs and Keogh plan accounts $47,769
    Brokered deposits $9,453
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,386,709
    Cash & Balances due from depository institutions $40,915
    Interest-bearing balances $27,126
    Total securities $138,243
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,141,914
    Loan and leases loss allowance $9,502
    Trading account assets $0
    Bank premises and fixed assets $20,644
    Other real estate owned $475
    Goodwill and other intangibles $4,859
    All other assets $39,659

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,386,709
    Total Liabilities $1,241,052
    Total deposits $1,160,786
    Interest-bearing deposits $924,978
    Deposits held in domestic offices $1,160,786
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $69,713
    Subordinated debt $0
    All other liabilities $10,553

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,141,914
    Loan and leases loss allowance $9,502
    Total loans and leases (domestic) $1,151,416
    All real estate loans $1,025,167
    Real estate loans in domestic offices $1,025,167
    Construction and development loans $127,845
    Residential 1-4 family construction $57,708
    Other construction, all land development and other land $70,137
    Loans secured by nonfarm nonresidential properties $329,936
    Nonfarm nonresidential secured by owner-occupied properties $142,188
    Commercial real estate & other non-farm, non-residential $187,748
    Multifamily residential real estate $140,878
    1-4 family residential loans $425,572
    Farmland loans $936
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $124,078
    To non-U.S. addressees $0
    Loans to individuals $2,060
    Credit card loans $0
    Related Plans $115
    Consumer Auto Loans $1,178
    Other loans to individuals $767
    All other loans & leases $111
    Loans to foreign governments and official institutions $0
    Other loans $111
    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 $185
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    North Shore Bank a Co-operative Bank had $1,141,914,000 of loans outstanding in 2019. $1,025,167,000 of loans were in real estate loans. $127,845,000 of loans were in development loans. $140,878,000 of loans were in multifamily mortgage loans. $425,572,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,178,000 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 514 $150,065 $291,955
    Nonfarm, nonresidential loans - <$100k 37 $1,699 $45,919
    Nonfarm, nonresidential loans - $100-250k 156 $21,031 $134,814
    Nonfarm, nonresidential loans - $250k-1MM 321 $127,335 $396,682
    Commercial & Industrial, US addressed loans - <$1MM 638 $79,070 $123,934
    Commercial & Industrial, US addressed loans - <$100k 256 $8,212 $32,078
    Commercial & Industrial, US addressed loans - $100-250k 186 $18,222 $97,968
    Commercial & Industrial, US addressed loans - $250k-1MM 196 $52,636 $268,551
    Farmland loans - <$1MM 2 $333 $166,500
    Farmland loans - <$100k 1 $3 $3,000
    Farmland loans - $250k-1MM 1 $330 $330,000