Athol Savings Bank Mortgage Rates, Fees & Info

Athol, MA

LEI: 549300BN61BPY0L0H441

Tax ID: 04-1046670

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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

    Athol Savings Bank is a smaller bank specializing in Home Purchase loans. Athol Savings Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Worcester, Springfield, Keene, Boston, and Manchester among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Athol Savings 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.

    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

    191

    Origination Dollar Volume (All Markets)

    $30,485,000

    Employee count

    89

    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
    WORCESTER, MA-CT (FHA|USDA|VA) 153 $23,855,000 $155,915 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 22 $2,640,000 $120,000 $0 0.00%
    Keene, NH (FHA|USDA|VA) 9 $2,335,000 $259,444 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 4 $1,040,000 $260,000 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $615,000 $205,000 $0 0.00%
    Athol Savings Bank's top markets include Worcester, Springfield, Keene, Boston, 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 186 $29,440,000 $158,280 $0 0.00%
    USDA 5 $1,045,000 $209,000 $0 0.00%

    For 2019, Athol Savings Bank's most frequently originated type of loan was Conventional, with 186 originations. Their 2nd most popular type was USDA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 81 $17,605,000 $217,346 $0 0.00%
    Cash Out Refi 40 $5,850,000 $146,250 $0 0.00%
    Refi 30 $4,630,000 $154,333 $0 0.00%
    Home Improvement 27 $1,665,000 $61,667 $0 0.00%
    Other 13 $735,000 $56,538 $0 0.00%

    For 2019, Athol Savings Bank's most frequently cited loan purpose was Home Purchase, with 81 originations. The 2nd most popular reason was Cash Out Refi, with 40 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 191 $30,485,000 $159,607 $0 0.00%

    For 2019, Athol Savings Bank's most frequently cited loan duration was Other, with 191 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 69 $10,185,000 $147,609 $0 0.00%
    $100,000 or less 64 $2,990,000 $46,719 $0 0.00%
    $200k-400k 51 $13,345,000 $261,667 $0 0.00%
    $400k-600k 6 $3,000,000 $500,000 $0 0.00%
    $600k-1MM 1 $965,000 $965,000 $0 0.00%

    2019 saw Athol Savings Bank place emphasis on $100k-200k loans with 69 originations, totaling $10,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 46 $7,450,000 $161,957 $0 0.00%
    $50k-75k 42 $4,880,000 $116,190 $0 0.00%
    $75k-100k 38 $5,990,000 $157,632 $0 0.00%
    $50k or less 19 $1,305,000 $68,684 $0 0.00%
    $150k-250k 18 $3,130,000 $173,889 $0 0.00%
    $250k+ 8 $2,050,000 $256,250 $0 0.00%

    Athol Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 46 originations. The second most popular income band? $50k-75k, with 42 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 191 $30,485,000 $159,607 $0 0.00%

    Athol Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 191 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 159 $23,425,000 $147,327 $0 0.00%
    Not applicable 16 $4,570,000 $285,625 $0 0.00%
    Not provided 13 $1,965,000 $151,154 $0 0.00%
    Other Asian 1 $325,000 $325,000 $0 0.00%
    Asian Indian 2 $200,000 $100,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.21%

    Athol Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    84.82%

    Athol Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 191 $30,485,000 $159,607

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 6 $2,710,000 $451,667
    Single Family (1-4 Units):Manufactured 4 $200,000 $50,000
    Single Family (1-4 Units):Site-Built 181 $27,575,000 $152,348

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Athol Savings Bank 112 Central Street Winchendon, MA 1475 Full Service B&M $47,657
    Athol Savings Bank 1499 Main Street Athol, MA 1331 Full Service B&M $27,810
    Athol Savings Bank 196 Timpany Boulevard Gardner, MA 1440 Full Service B&M $63,794
    Athol Savings Bank 22 Elm Street Baldwinville, MA 1436 Full Service B&M $30,369
    Athol Savings Bank 388 Main Street Athol, MA 1331 Full Service B&M $122,871
    Athol Savings Bank 444 Main Street Athol, MA 1331 Limited, Administrative $0
    Athol Savings Bank 52 Main Street Ashburnham, MA 1430 Full Service B&M $47,502
    Athol Savings Bank 560 Summer Street Barre, MA 1005 Full Service B&M $39,411

    For 2019, Athol Savings Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,252
    Net interest income $11,668
    Total noninterest income $4,077
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,101
    Trading account gains and fees $0
    Additional Noninterest Income $1,976
    Pre-tax net operating income $1,951
    Securities gains (or losses, -) $1,857
    Income before extraordinary items $3,104
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,104
    Minority interest net income $0
    Net income $3,104
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,581

    Athol Savings Bank's gross interest income from loans was $15,252,000.
    Athol Savings Bank's net interest income from loans was $11,668,000.
    Athol Savings Bank's fee based income from loans was $2,101,000.
    Athol Savings Bank's net income from loans was $3,104,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,584
    Provision for credit losses $600
    Total noninterest expense $13,194
    Salaries and employee benefits $7,420
    Premises and equipment expense $1,657
    Additional noninterest expense $4,117
    Applicable income taxes $704
    Net charge-offs $116
    Cash dividends $0

    Athol Savings Bank's interest expense for loans was $3,584,000.
    Athol Savings Bank's payroll and benefits expense were $7,420,000.
    Athol Savings Bank's property, plant and equipment expenses $1,657,000.

    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 1.0%
    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 $374,180
    Deposits held in domestic offices $374,180
    Deposits by Individuals, partnerships, and corporations $364,243
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,937
    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 $148,724
    Demand deposits $48,241
    Nontransaction accounts $225,456
    Money market deposit accounts (MMDAs) $55,810
    Other savings deposits (excluding MMDAs) $43,846
    Total time deposits $125,800
    Total time and savings deposits $325,939
    Noninterest-bearing deposits $48,241
    Interest-bearing deposits $325,939
    Retail deposits $328,893
    IRAs and Keogh plan accounts $23,352
    Brokered deposits $13,018
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $448,277
    Cash & Balances due from depository institutions $10,137
    Interest-bearing balances $4,645
    Total securities $120,111
    Federal funds sold & reverse repurchase $3,303
    Net loans and leases $291,889
    Loan and leases loss allowance $3,440
    Trading account assets $0
    Bank premises and fixed assets $5,857
    Other real estate owned $0
    Goodwill and other intangibles $8
    All other assets $16,972

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $448,277
    Total Liabilities $387,269
    Total deposits $374,180
    Interest-bearing deposits $325,939
    Deposits held in domestic offices $374,180
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,000
    Subordinated debt $0
    All other liabilities $7,089

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $291,889
    Loan and leases loss allowance $3,440
    Total loans and leases (domestic) $295,329
    All real estate loans $275,432
    Real estate loans in domestic offices $275,432
    Construction and development loans $6,269
    Residential 1-4 family construction $1,867
    Other construction, all land development and other land $4,402
    Loans secured by nonfarm nonresidential properties $43,272
    Nonfarm nonresidential secured by owner-occupied properties $2,657
    Commercial real estate & other non-farm, non-residential $40,615
    Multifamily residential real estate $5,696
    1-4 family residential loans $219,889
    Farmland loans $306
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $7,991
    To non-U.S. addressees $0
    Loans to individuals $11,906
    Credit card loans $0
    Related Plans $372
    Consumer Auto Loans $9,277
    Other loans to individuals $2,257
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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

    Athol Savings Bank had $291,889,000 of loans outstanding in 2019. $275,432,000 of loans were in real estate loans. $6,269,000 of loans were in development loans. $5,696,000 of loans were in multifamily mortgage loans. $219,889,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $9,277,000 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 58 $15,297 $263,741
    Nonfarm, nonresidential loans - <$100k 22 $1,399 $63,591
    Nonfarm, nonresidential loans - $100-250k 23 $2,941 $127,870
    Nonfarm, nonresidential loans - $250k-1MM 13 $10,957 $842,846
    Commercial & Industrial, US addressed loans - <$1MM 128 $7,561 $59,070
    Commercial & Industrial, US addressed loans - <$100k 96 $2,296 $23,917
    Commercial & Industrial, US addressed loans - $100-250k 19 $1,552 $81,684
    Commercial & Industrial, US addressed loans - $250k-1MM 13 $3,713 $285,615
    Farmland loans - <$1MM 1 $306 $306,000
    Farmland loans - $250k-1MM 1 $306 $306,000