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, Cash Out Refi, and Refi 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, Boston, Springfield, Keene, and Hartford among others. We have data for 6 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

    204

    Origination Dollar Volume (All Markets)

    $42,360,000

    Employee count

    78

    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) 171 $31,975,000 $186,988 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 6 $5,300,000 $883,333 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 20 $3,490,000 $174,500 $0 0.00%
    Keene, NH (FHA|USDA|VA) 4 $750,000 $187,500 $0 0.00%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $400,000 $200,000 $0 0.00%
    Athol Savings Bank's top markets include Worcester, Boston, Springfield, Keene, and Hartford among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 198 $41,030,000 $207,222 $0 0.00%
    USDA 6 $1,330,000 $221,667 $0 0.00%

    For 2020, Athol Savings Bank's most frequently originated type of loan was Conventional, with 198 originations. Their 2nd most popular type was USDA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 69 $19,445,000 $281,812 $0 0.00%
    Cash Out Refi 60 $12,150,000 $202,500 $0 0.00%
    Refi 59 $9,665,000 $163,814 $0 0.00%
    Home Improvement 9 $585,000 $65,000 $0 0.00%
    Other 7 $515,000 $73,571 $0 0.00%

    For 2020, Athol Savings Bank's most frequently cited loan purpose was Home Purchase, with 69 originations. The 2nd most popular reason was Cash Out Refi, with 60 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 204 $42,360,000 $207,647 $0 0.00%

    For 2020, Athol Savings Bank's most frequently cited loan duration was Other, with 204 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 87 $12,685,000 $145,805 $0 0.00%
    $200k-400k 65 $17,605,000 $270,846 $0 0.00%
    $100,000 or less 38 $2,170,000 $57,105 $0 0.00%
    $400k-600k 11 $5,005,000 $455,000 $0 0.00%
    $1MM+ 2 $4,040,000 $2,020,000 $0 0.00%
    $600k-1MM 1 $855,000 $855,000 $0 0.00%

    2020 saw Athol Savings Bank place emphasis on $100k-200k loans with 87 originations, totaling $12,685,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 47 $6,415,000 $136,489 $0 0.00%
    $100k-150k 39 $8,575,000 $219,872 $0 0.00%
    $75k-100k 35 $5,695,000 $162,714 $0 0.00%
    $150k-250k 34 $7,870,000 $231,471 $0 0.00%
    $50k or less 22 $2,460,000 $111,818 $0 0.00%
    $250k+ 11 $3,155,000 $286,818 $0 0.00%

    Athol Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 47 originations. The second most popular income band? $100k-150k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 204 $42,360,000 $207,647 $0 0.00%

    Athol Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 204 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 185 $33,685,000 $182,081 $0 0.00%
    Not applicable 11 $7,165,000 $651,364 $0 0.00%
    Not provided 5 $1,025,000 $205,000 $0 0.00%
    Asian 1 $235,000 $235,000 $0 0.00%
    Other Pacific Islander 1 $205,000 $205,000 $0 0.00%
    Black 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    82.37%

    Athol Savings Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    73.04%

    Athol Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 204 $42,360,000 $207,647

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $4,545,000 $909,000
    Single Family (1-4 Units):Manufactured 1 $35,000 $35,000
    Single Family (1-4 Units):Site-Built 198 $37,780,000 $190,808

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Athol Savings Bank 112 Central Street Winchendon, MA 1475 Full Service B&M $58,736
    Athol Savings Bank 1499 Main Street Athol, MA 1331 Full Service B&M $29,438
    Athol Savings Bank 196 Timpany Boulevard Gardner, MA 1440 Full Service B&M $78,877
    Athol Savings Bank 22 Elm Street Baldwinville, MA 1436 Full Service B&M $34,059
    Athol Savings Bank 388 Main Street Athol, MA 1331 Full Service B&M $126,636
    Athol Savings Bank 52 Main Street Ashburnham, MA 1430 Full Service B&M $55,128
    Athol Savings Bank 560 Summer Street Barre, MA 1005 Full Service B&M $43,287

    For 2020, Athol Savings Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,679
    Net interest income $11,813
    Total noninterest income $3,737
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,628
    Trading account gains and fees $0
    Additional Noninterest Income $2,109
    Pre-tax net operating income $1,329
    Securities gains (or losses, -) $973
    Income before extraordinary items $2,001
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,001
    Minority interest net income $0
    Net income $2,001
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,154

    Athol Savings Bank's gross interest income from loans was $14,679,000.
    Athol Savings Bank's net interest income from loans was $11,813,000.
    Athol Savings Bank's fee based income from loans was $1,628,000.
    Athol Savings Bank's net income from loans was $2,001,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,866
    Provision for credit losses $1,025
    Total noninterest expense $13,196
    Salaries and employee benefits $7,020
    Premises and equipment expense $1,705
    Additional noninterest expense $4,471
    Applicable income taxes $301
    Net charge-offs $78
    Cash dividends $0

    Athol Savings Bank's interest expense for loans was $2,866,000.
    Athol Savings Bank's payroll and benefits expense were $7,020,000.
    Athol Savings Bank's property, plant and equipment expenses $1,705,000.

    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 $443,630
    Deposits held in domestic offices $443,630
    Deposits by Individuals, partnerships, and corporations $433,693
    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 $198,128
    Demand deposits $67,465
    Nontransaction accounts $245,502
    Money market deposit accounts (MMDAs) $73,251
    Other savings deposits (excluding MMDAs) $50,594
    Total time deposits $121,657
    Total time and savings deposits $376,165
    Noninterest-bearing deposits $67,465
    Interest-bearing deposits $376,165
    Retail deposits $398,308
    IRAs and Keogh plan accounts $24,046
    Brokered deposits $7,700
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $516,786
    Cash & Balances due from depository institutions $39,107
    Interest-bearing balances $34,130
    Total securities $155,640
    Federal funds sold & reverse repurchase $3,974
    Net loans and leases $296,417
    Loan and leases loss allowance $4,387
    Trading account assets $0
    Bank premises and fixed assets $5,924
    Other real estate owned $0
    Goodwill and other intangibles $5
    All other assets $15,719

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $516,786
    Total Liabilities $453,681
    Total deposits $443,630
    Interest-bearing deposits $376,165
    Deposits held in domestic offices $443,630
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,000
    Subordinated debt $0
    All other liabilities $6,051

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $296,417
    Loan and leases loss allowance $4,387
    Total loans and leases (domestic) $300,804
    All real estate loans $276,854
    Real estate loans in domestic offices $276,854
    Construction and development loans $8,385
    Residential 1-4 family construction $4,333
    Other construction, all land development and other land $4,052
    Loans secured by nonfarm nonresidential properties $50,699
    Nonfarm nonresidential secured by owner-occupied properties $1,888
    Commercial real estate & other non-farm, non-residential $48,811
    Multifamily residential real estate $14,298
    1-4 family residential loans $203,174
    Farmland loans $298
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $16,438
    To non-U.S. addressees $0
    Loans to individuals $7,512
    Credit card loans $0
    Related Plans $281
    Consumer Auto Loans $5,421
    Other loans to individuals $1,810
    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 $296,417,000 of loans outstanding in 2020. $276,854,000 of loans were in real estate loans. $8,385,000 of loans were in development loans. $14,298,000 of loans were in multifamily mortgage loans. $203,174,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $5,421,000 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 77 $16,770 $217,792
    Nonfarm, nonresidential loans - <$100k 22 $950 $43,182
    Nonfarm, nonresidential loans - $100-250k 22 $2,599 $118,136
    Nonfarm, nonresidential loans - $250k-1MM 33 $13,221 $400,636
    Commercial & Industrial, US addressed loans - <$1MM 235 $14,544 $61,889
    Commercial & Industrial, US addressed loans - <$100k 187 $4,358 $23,305
    Commercial & Industrial, US addressed loans - $100-250k 28 $2,846 $101,643
    Commercial & Industrial, US addressed loans - $250k-1MM 20 $7,340 $367,000
    Farmland loans - <$1MM 1 $298 $298,000
    Farmland loans - $250k-1MM 1 $298 $298,000