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

Peabody, MA

LEI: 549300B3J2ZHX7QFH171

Tax ID: 04-3414678

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Mortgage Data

Bank Data

Review & Overview

North Shore Bank A Co-operative Bank is a smaller bank specializing in Refi and Home Purchase loans. North Shore Bank A Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Barnstable Town, Worcester, and Laconia among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

North Shore Bank A Co-operative 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. 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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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.63% 3/28/24
30 Year Conventional Purchase 6.10% 3/28/24
30 Year Conventional Refi 6.27% 3/28/24
30 Year Cash-out Refi 6.09% 3/28/24
15 Year Conventional Purchase 6.48% 3/28/24
15 Year Conventional Refi 5.52% 3/28/24
15 Year Cash-out Refi 5.52% 3/28/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

North Shore Bank A Co-operative Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from North Shore Bank A Co-operative Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

652

Origination Dollar Volume (All Markets)

$319,350,000

Employee count

175

Awards

North Shore Bank a Co-operative Bank 30 Year Conventional Loans silver North Shore Bank a Co-operative Bank 30 Year Conventional Loans bronze
Show all (2) 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) 614 $307,840,000 $501,368 $3,224 3.20%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 7 $2,775,000 $396,429 $2,906 3.25%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 7 $2,385,000 $340,714 $3,028 2.88%
WORCESTER, MA-CT (FHA|USDA|VA) 6 $2,110,000 $351,667 $3,006 2.94%
Laconia, NH (FHA|USDA|VA) 3 $795,000 $265,000 $2,993 3.08%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $685,000 $228,333 $3,171 3.21%
Barre, VT (FHA|USDA|VA) 3 $655,000 $218,333 $2,948 2.88%
SPRINGFIELD, MA (FHA|USDA|VA) 2 $650,000 $325,000 $2,725 2.81%
Lebanon, NH-VT (FHA|USDA|VA) 2 $560,000 $280,000 $3,115 3.19%
Outside of Metro Areas 2 $430,000 $215,000 $2,795 2.75%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $265,000 $265,000 $0 3.63%
PITTSFIELD, MA (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.25%
Concord, NH (FHA|USDA|VA) 1 $95,000 $95,000 $2,762 2.88%
North Shore Bank A Co-operative Bank's top markets include Boston, Manchester, Barnstable Town, Worcester, and Laconia among others.

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

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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 527 $300,245,000 $569,725 $3,205 3.17%
    HELOC 125 $19,105,000 $152,840 n/a 3.25%

    For 2021, North Shore Bank A Co-operative Bank's most frequently originated type of loan was Conventional, with 527 originations. Their 2nd most popular type was HELOC, with 125 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 210 $130,660,000 $622,190 $2,891 3.09%
    Home Purchase 166 $115,050,000 $693,072 $3,758 3.51%
    Cash Out Refi 160 $54,120,000 $338,250 $3,116 2.95%
    Home Improvement 73 $10,555,000 $144,589 $4,886 3.29%
    Other 43 $8,965,000 $208,488 $3,027 3.17%

    For 2021, North Shore Bank A Co-operative Bank's most frequently cited loan purpose was Refi, with 210 originations. The 2nd most popular reason was Home Purchase, with 166 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 320 $140,340,000 $438,563 $3,113 3.04%
    20 Year 157 $44,965,000 $286,401 $2,795 3.16%
    Other 83 $90,895,000 $1,095,120 $2,985 3.93%
    15 Year 58 $14,780,000 $254,828 $2,813 2.60%
    10 Year 14 $11,040,000 $788,571 $2,686 3.21%
    1 Year 12 $10,990,000 $915,833 $0 5.15%
    30+ year 8 $6,340,000 $792,500 $11,239 3.44%

    For 2021, North Shore Bank A Co-operative Bank's most frequently cited loan duration was 30 Year, with 320 originations. The 2nd most popular length was 20 Year, with 157 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 336 $121,060,000 $360,298
    $1k-2k 45 $12,025,000 $267,222
    $4k-5k 9 $6,695,000 $743,889
    $2k-3k 6 $2,120,000 $353,333
    $3k-4k 3 $1,185,000 $395,000
    $5k+ 1 $435,000 $435,000

    North Shore Bank A Co-operative Bank's average total fees were $3,113, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 336 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 323 $177,315,000 $548,963
    2.5-3% 233 $82,555,000 $354,313
    <2.5% 58 $15,000,000 $258,621
    4-5% 27 $35,595,000 $1,318,333
    5-6% 11 $8,885,000 $807,727

    During 2021, North Shore Bank A Co-operative Bank's average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 3-4%, with 323 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 252 $74,240,000 $294,603 $2,830 3.04%
    $400k-600k 118 $56,500,000 $478,814 $3,528 3.18%
    $100k-200k 111 $16,155,000 $145,541 $2,650 2.95%
    $100,000 or less 59 $3,535,000 $59,915 $2,734 3.18%
    $600k-1MM 59 $42,695,000 $723,644 $5,118 3.55%
    $1MM+ 53 $126,225,000 $2,381,604 $6,372 4.03%

    2021 saw North Shore Bank A Co-operative Bank place emphasis on $200k-400k loans with 252 originations, totaling $74,240,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 153 $54,155,000 $353,954 $3,657 3.06%
    $100k-150k 145 $44,225,000 $305,000 $3,097 2.97%
    $75k-100k 95 $22,645,000 $238,368 $2,837 2.97%
    $50k-75k 69 $14,585,000 $211,377 $2,784 3.02%
    $250k+ 61 $31,055,000 $509,098 $3,907 3.08%
    $50k or less 25 $4,125,000 $165,000 $2,729 2.96%

    North Shore Bank A Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 153 originations. The second most popular income band? $100k-150k, with 145 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 148 $46,120,000 $311,622 $3,274 2.95%
    30-36% 124 $38,720,000 $312,258 $3,156 3.05%
    <20% 48 $15,380,000 $320,417 $2,894 2.85%
    37% 27 $8,105,000 $300,185 $3,000 3.06%
    42% 25 $7,565,000 $302,600 $3,011 3.09%
    39% 22 $6,720,000 $305,455 $4,393 3.10%
    38% 22 $5,430,000 $246,818 $2,924 3.04%
    40% 21 $8,225,000 $391,667 $3,056 2.99%
    44% 20 $6,100,000 $305,000 $3,224 3.13%
    41% 19 $6,045,000 $318,158 $3,265 3.14%
    36% 15 $4,795,000 $319,667 $3,407 3.07%
    43% 12 $3,490,000 $290,833 $2,857 3.04%
    47% 11 $2,695,000 $245,000 $2,812 2.87%
    45% 10 $2,900,000 $290,000 $2,885 2.94%
    48% 8 $2,600,000 $325,000 $2,992 2.91%
    46% 7 $2,485,000 $355,000 $4,411 3.00%
    49% 5 $1,375,000 $275,000 $3,372 2.93%
    50-60% 2 $870,000 $435,000 $6,859 3.06%
    >60% 1 $305,000 $305,000 $0 3.25%

    North Shore Bank A Co-operative Bank lent most frequently to those with DTI ratios of 20-30%, with 148 originations. The next most common DTI ratio? 30-36%, with 124 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 512 $160,850,000 $314,160 $3,193 3.01%
    Not applicable 98 $145,830,000 $1,488,061 $0 4.16%
    Not provided 30 $9,840,000 $328,000 $3,573 3.17%
    Asian 7 $2,025,000 $289,286 $3,309 3.02%
    Black 5 $805,000 $161,000 $2,767 2.93%

    Approval Rates

    Total approvals of all applications
    92.05%

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

    Pick Rate

    Approvals leading to origination
    85.74%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 652 $319,350,000 $489,801

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    652 $319,350,000 $489,801

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 132 $30,460,000 $230,758 $2,714 2.95%
    40-60% 165 $89,285,000 $541,121 $3,063 3.11%
    60-80% 218 $165,990,000 $761,422 $3,426 3.43%
    80-100% 54 $26,480,000 $490,370 $3,933 3.08%
    Under 20% 83 $7,135,000 $85,964 $2,644 3.18%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    NORTHWEST BANCSHARES INC Conventional home mortgage Struggling to pay mortgage 1 11.1%
    NORTHWEST BANCSHARES INC Conventional home mortgage Trouble during payment process 5 55.6%
    NORTHWEST BANCSHARES INC Home equity loan or line of credit (HELOC) Trouble during payment process 1 11.1%
    NORTHWEST BANCSHARES INC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 11.1%
    NORTHWEST BANCSHARES INC Other type of mortgage Struggling to pay mortgage 1 11.1%

    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 $72,243
    North Shore Bank, A Co-Operative Bank 140 Brimbal Avenue Beverly, MA 1915 Full Service B&M $77,880
    North Shore Bank, A Co-Operative Bank 237 South Main Street Middleton, MA 1949 Full Service B&M $95,208
    North Shore Bank, A Co-Operative Bank 248 Andover St Peabody, MA 1960 Full Service B&M $128,807
    North Shore Bank, A Co-Operative Bank 254 Cabot Street Beverly, MA 1915 Full Service Cyber Office $5,531
    North Shore Bank, A Co-Operative Bank 254 Cabot Street Beverly, MA 1915 Full Service B&M $177,343
    North Shore Bank, A Co-Operative Bank 29 South Main Street Newton, NH 3858 Full Service B&M $52,335
    North Shore Bank, A Co-Operative Bank 31 Harnden Street Reading, MA 1867 Full Service B&M $7,355
    North Shore Bank, A Co-Operative Bank 319 Highland Avenue Salem, MA 1970 Full Service B&M $47,234
    North Shore Bank, A Co-Operative Bank 32 Main Street Peabody, MA 1960 Full Service B&M $147,981
    North Shore Bank, A Co-Operative Bank 412 Lynn Fells Parkway Saugus, MA 1906 Full Service B&M $107,204
    North Shore Bank, A Co-Operative Bank 48 Elm Street Danvers, MA 1923 Full Service B&M $121,918
    North Shore Bank, A Co-Operative Bank 48 Enon Street Beverly, MA 1915 Full Service B&M $108,793
    North Shore Bank, A Co-Operative Bank 637 Lowell Street, Shopping Plaza Peabody, MA 1960 Full Service Retail $38,017
    North Shore Bank, A Co-Operative Bank 73 Lafayette Street Salem, MA 1970 Full Service B&M $90,711
    North Shore Bank, A Co-Operative Bank One Hamilton Street Saugus, MA 1906 Full Service B&M $113,897

    For 2021, North Shore Bank A Co-operative Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $54,885
    Net interest income $51,121
    Total noninterest income $6,225
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $984
    Trading account gains and fees $0
    Additional Noninterest Income $5,241
    Pre-tax net operating income $20,157
    Securities gains (or losses, -) $667
    Income before extraordinary items $15,179
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $15,179
    Minority interest net income $0
    Net income $15,179
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $14,652

    North Shore Bank A Co-operative Bank's gross interest income from loans was $54,885,000.
    North Shore Bank A Co-operative Bank's net interest income from loans was $51,121,000.
    North Shore Bank A Co-operative Bank's fee based income from loans was $984,000.
    North Shore Bank A Co-operative Bank's net income from loans was $15,179,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,764
    Provision for credit losses $1,753
    Total noninterest expense $35,436
    Salaries and employee benefits $21,821
    Premises and equipment expense $4,823
    Additional noninterest expense $8,792
    Applicable income taxes $5,645
    Net charge-offs $21
    Cash dividends $250

    North Shore Bank A Co-operative Bank's interest expense for loans was $3,764,000.
    North Shore Bank A Co-operative Bank's payroll and benefits expense were $21,821,000.
    North Shore Bank A Co-operative Bank's property, plant and equipment expenses $4,823,000.

    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 $1,448,638
    Deposits held in domestic offices $1,448,638
    Deposits by Individuals, partnerships, and corporations $1,375,659
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $72,976
    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 $107,569
    Demand deposits $82,414
    Nontransaction accounts $1,341,069
    Money market deposit accounts (MMDAs) $404,956
    Other savings deposits (excluding MMDAs) $706,800
    Total time deposits $229,313
    Total time and savings deposits $1,366,224
    Noninterest-bearing deposits $421,814
    Interest-bearing deposits $1,026,824
    Retail deposits $1,390,656
    IRAs and Keogh plan accounts $43,726
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,641,035
    Cash & Balances due from depository institutions $254,624
    Interest-bearing balances $245,290
    Total securities $171,780
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,159,672
    Loan and leases loss allowance $16,699
    Trading account assets $0
    Bank premises and fixed assets $15,503
    Other real estate owned $0
    Goodwill and other intangibles $4,283
    All other assets $35,173

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,641,035
    Total Liabilities $1,468,953
    Total deposits $1,448,638
    Interest-bearing deposits $1,026,824
    Deposits held in domestic offices $1,448,638
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,609
    Subordinated debt $0
    All other liabilities $13,706

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,159,672
    Loan and leases loss allowance $16,699
    Total loans and leases (domestic) $1,176,371
    All real estate loans $1,015,687
    Real estate loans in domestic offices $1,015,687
    Construction and development loans $114,167
    Residential 1-4 family construction $50,773
    Other construction, all land development and other land $63,394
    Loans secured by nonfarm nonresidential properties $394,410
    Nonfarm nonresidential secured by owner-occupied properties $156,831
    Commercial real estate & other non-farm, non-residential $237,579
    Multifamily residential real estate $143,008
    1-4 family residential loans $363,548
    Farmland loans $554
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $158,812
    To non-U.S. addressees $0
    Loans to individuals $1,802
    Credit card loans $0
    Related Plans $57
    Consumer Auto Loans $1,274
    Other loans to individuals $471
    All other loans & leases $70
    Loans to foreign governments and official institutions $0
    Other loans $70
    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 $327
    Non 1-4 family restructured loans & leases $327
    Total loans and leases (foreign) $0

    North Shore Bank a Co-operative Bank had $1,159,672,000 of loans outstanding in 2021. $1,015,687,000 of loans were in real estate loans. $114,167,000 of loans were in development loans. $143,008,000 of loans were in multifamily mortgage loans. $363,548,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,274,000 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 449 $139,214 $310,053
    Nonfarm, nonresidential loans - <$100k 27 $1,053 $39,000
    Nonfarm, nonresidential loans - $100-250k 119 $16,084 $135,160
    Nonfarm, nonresidential loans - $250k-1MM 303 $122,077 $402,894
    Commercial & Industrial, US addressed loans - <$1MM 769 $95,692 $124,437
    Commercial & Industrial, US addressed loans - <$100k 370 $11,935 $32,257
    Commercial & Industrial, US addressed loans - $100-250k 197 $20,981 $106,503
    Commercial & Industrial, US addressed loans - $250k-1MM 202 $62,776 $310,772