East Boston Savings Bank Mortgage Rates, Fees & Info

Boston, MA

LEI: 549300COSKD1GGV2KI91

Tax ID: 04-3130808

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
  • 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

    East Boston Savings Bank is a smaller bank specializing in Home Purchase and Home Improvement loans. East Boston Savings Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Boston, Providence, Barnstable Town, Laconia, and Manchester among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    East Boston Savings 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. East Boston Savings 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    408

    Origination Dollar Volume (All Markets)

    $521,910,000

    Employee count

    512

    Awards

    East Boston Savings Bank 30 Year Conventional Loans silver East Boston Savings Bank 30 Year Conventional Loans silver East Boston Savings Bank 30 Year Conventional Loans gold
    Show all (3) 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) 385 $468,185,000 $1,216,065 $3,262 4.36%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 7 $45,165,000 $6,452,143 $2,861 4.30%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 8 $4,460,000 $557,500 $3,170 4.14%
    Laconia, NH (FHA|USDA|VA) 2 $1,580,000 $790,000 $0 4.25%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 2 $690,000 $345,000 $2,940 4.63%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $625,000 $625,000 $0 4.95%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $620,000 $310,000 $2,795 4.63%
    Outside of Metro Areas 1 $585,000 $585,000 $0 5.75%
    East Boston Savings Bank's top markets include Boston, Providence, Barnstable Town, Laconia, and Manchester among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (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 East Boston Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Triangle Credit Union
    Similarity Rank: 147
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165
    Coastal Heritage Bank
    Similarity Rank: 180
    Bristol County Savings Bank
    Similarity Rank: 210
    Milford Federal Bank
    Similarity Rank: 285
    Methuen Cooperative Bank
    Similarity Rank: 330
    The Cooperative Bank
    Similarity Rank: 380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 407 $521,405,000 $1,281,093 $3,248 4.36%
    FHA 1 $505,000 $505,000 $0 3.88%

    For 2018, East Boston Savings Bank's most frequently originated type of loan was Conventional, with 407 originations. Their 2nd most popular type was FHA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 219 $232,885,000 $1,063,402 $3,611 4.35%
    Cash Out Refi 122 $101,380,000 $830,984 $2,746 4.35%
    Refi 53 $65,935,000 $1,244,057 $2,605 4.34%
    Home Improvement 14 $121,710,000 $8,693,571 $4,228 4.66%

    For 2018, East Boston Savings Bank's most frequently cited loan purpose was Home Purchase, with 219 originations. The 2nd most popular reason was Cash Out Refi, with 122 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 327 $261,475,000 $799,618 $3,159 4.33%
    Other 41 $97,975,000 $2,389,634 $0 4.70%
    10 Year 13 $98,805,000 $7,600,385 $2,330 4.51%
    20 Year 12 $11,100,000 $925,000 $2,779 4.46%
    15 Year 7 $1,465,000 $209,286 $2,513 3.64%
    30+ year 5 $2,805,000 $561,000 $8,484 3.95%
    5 Year 2 $47,860,000 $23,930,000 $0 4.44%
    3 Year 1 $425,000 $425,000 $0 5.25%

    For 2018, East Boston Savings Bank's most frequently cited loan duration was 30 Year, with 327 originations. The 2nd most popular length was Other, with 41 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 194 $78,290,000 $403,557
    $1k-2k 12 $7,800,000 $650,000
    $3k-4k 4 $2,270,000 $567,500
    $2k-3k 3 $1,225,000 $408,333
    $4k-5k 3 $1,725,000 $575,000
    $5k+ 1 $695,000 $695,000

    East Boston Savings Bank's average total fees were $3,159, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 194 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 252 $367,810,000 $1,459,563
    3-4% 131 $84,595,000 $645,763
    5-6% 25 $69,505,000 $2,780,200

    During 2018, East Boston Savings Bank's average interest rate for loans was 4.33%, while their most frequently originated rate bucket for loans was 4-5%, with 252 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 123 $58,765,000 $477,764 $3,237 4.37%
    $200k-400k 111 $32,555,000 $293,288 $2,915 4.24%
    $600k-1MM 75 $58,265,000 $776,867 $4,717 4.43%
    $1MM+ 65 $367,435,000 $5,652,846 $4,969 4.54%
    $100k-200k 30 $4,590,000 $153,000 $2,463 4.17%
    $100,000 or less 4 $300,000 $75,000 $1,964 4.31%

    2018 saw East Boston Savings Bank place emphasis on $400k-600k loans with 123 originations, totaling $58,765,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 70 $37,980,000 $542,571 $4,022 4.30%
    $100k-150k 66 $29,980,000 $454,242 $3,235 4.25%
    $250k+ 55 $36,545,000 $664,455 $3,758 4.30%
    $75k-100k 43 $12,915,000 $300,349 $2,742 4.29%
    $50k-75k 34 $9,020,000 $265,294 $2,614 4.16%
    $50k or less 18 $3,190,000 $177,222 $2,450 4.16%

    East Boston Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 70 originations. The second most popular income band? $100k-150k, with 66 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 59 $23,255,000 $394,153 $3,090 4.22%
    20-30% 51 $22,515,000 $441,471 $2,963 4.31%
    41% 18 $8,310,000 $461,667 $2,797 4.38%
    40% 18 $7,870,000 $437,222 $2,944 4.23%
    43% 17 $7,645,000 $449,706 $2,953 4.07%
    39% 17 $9,065,000 $533,235 $3,997 4.19%
    42% 16 $9,140,000 $571,250 $3,387 4.27%
    44% 16 $9,500,000 $593,750 $3,859 4.23%
    <20% 13 $6,215,000 $478,077 $2,671 4.33%
    38% 13 $6,695,000 $515,000 $3,592 4.05%
    36% 11 $3,665,000 $333,182 $3,980 4.40%
    45% 10 $3,750,000 $375,000 $3,966 4.34%
    37% 8 $4,160,000 $520,000 $2,813 4.11%
    46% 6 $2,870,000 $478,333 $3,474 4.10%
    48% 6 $2,290,000 $381,667 $2,892 4.38%
    49% 4 $1,430,000 $357,500 $3,132 4.38%
    47% 2 $900,000 $450,000 $2,726 4.38%
    50-60% 1 $885,000 $885,000 $10,478 3.88%

    East Boston Savings Bank lent most frequently to those with DTI ratios of 30-36%, with 59 originations. The next most common DTI ratio? 20-30%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 105 $380,145,000 $3,620,429 $0 4.62%
    White 229 $107,275,000 $468,450 $3,286 4.22%
    Asian 31 $15,585,000 $502,742 $3,203 4.52%
    Not provided 26 $12,150,000 $467,308 $3,054 4.25%
    Black 16 $6,510,000 $406,875 $3,046 4.45%
    Other Pacific Islander 1 $245,000 $245,000 $2,806 4.50%

    Approval Rates

    Total approvals of all applications
    91.31%

    East Boston Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.03%

    East Boston Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 408 $521,910,000 $1,279,191

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 57 $341,625,000 $5,993,421
    Single Family (1-4 Units):Site-Built 351 $180,285,000 $513,632

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $18,760,000 $670,000 $2,419 4.35%
    40-60% 83 $174,155,000 $2,098,253 $3,077 4.30%
    60-80% 214 $288,370,000 $1,347,523 $3,402 4.44%
    80-100% 58 $29,520,000 $508,966 $3,519 4.20%
    Over 100% 1 $605,000 $605,000 $0 4.85%
    Under 20% 5 $1,505,000 $301,000 $2,332 4.13%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    East Boston Savings Bank 1 Bennington Street Boston, MA 2128 Full Service B&M $96,672
    East Boston Savings Bank 10 Elm Street Danvers, MA 1923 Full Service B&M $258,384
    East Boston Savings Bank 10 Meridian Street Boston, MA 2128 Full Service B&M $84,725
    East Boston Savings Bank 1050 Beacon Street Brookline, MA 2446 Full Service B&M $41,929
    East Boston Savings Bank 108 Main Street Melrose, MA 2176 Full Service B&M $85,181
    East Boston Savings Bank 1134 Washington Street Boston, MA 2118 Full Service B&M $43,081
    East Boston Savings Bank 126 Squire Road Revere, MA 2151 Limited, Mobile/Seasonal Office $0
    East Boston Savings Bank 126 Squire Road Revere, MA 2151 Full Service B&M $63,903
    East Boston Savings Bank 1441 Beacon Street Brookline, MA 2446 Full Service B&M $31,003
    East Boston Savings Bank 15 Bartlett Road Winthrop, MA 2152 Full Service B&M $131,586
    East Boston Savings Bank 1755 Revere Beach Parkway Everett, MA 2149 Full Service B&M $99,883
    East Boston Savings Bank 177 Brighton Avenue Allston, MA 2134 Full Service B&M $42,218
    East Boston Savings Bank 1952-1956 Beacon Street Boston, MA 2135 Full Service B&M $4,862
    East Boston Savings Bank 1981-1985 Centre Street West Roxbury, MA 2132 Full Service B&M $77,748
    East Boston Savings Bank 2172 Massachusetts Avenue Cambridge, MA 2140 Full Service B&M $42,682
    East Boston Savings Bank 2250 Dorchester Avenue Boston, MA 2124 Full Service B&M $81,486
    East Boston Savings Bank 305 Talbot Avenue Dorchester, MA 2124 Full Service B&M $60,381
    East Boston Savings Bank 317 Main Street Saugus, MA 1906 Full Service B&M $107,835
    East Boston Savings Bank 320 Central Street Saugus, MA 1906 Full Service B&M $101,777
    East Boston Savings Bank 335 Broadway Lynn, MA 1903 Full Service B&M $60,245
    East Boston Savings Bank 37 Union Square Somerville, MA 2143 Full Service B&M $51,990
    East Boston Savings Bank 381 Main Street Wakefield, MA 1880 Full Service B&M $81,664
    East Boston Savings Bank 410 Riverside Avenue Medford, MA 2155 Full Service B&M $73,402
    East Boston Savings Bank 4238 Washington St Roslindale, MA 2131 Full Service B&M $6,917
    East Boston Savings Bank 430 West Broadway South Boston, MA 2127 Full Service B&M $821,885
    East Boston Savings Bank 489 Gallivan Boulevard Dorchester, MA 2124 Full Service B&M $91,115
    East Boston Savings Bank 501 South Hampton Street South Boston, MA 2127 Full Service B&M $72,379
    East Boston Savings Bank 515 Centre Street Boston, MA 2130 Full Service B&M $91,908
    East Boston Savings Bank 575 Broadway Revere, MA 2151 Full Service B&M $121,422
    East Boston Savings Bank 67 Prospect Street Peabody, MA 1960 Full Service B&M $1,037,344
    East Boston Savings Bank 70 Concord Avenue Belmont, MA 2478 Full Service B&M $114,573
    East Boston Savings Bank 708 East Broadway South Boston, MA 2127 Full Service B&M $107,952
    East Boston Savings Bank 856 Bennington Street Boston, MA 2128 Full Service B&M $195,699
    East Boston Savings Bank 95 Kneeland Street Boston, MA 2111 Full Service B&M $23,484
    East Boston Savings Bank 960 Morrissey Blvd. Dorchester, MA 2122 Full Service B&M $32,646

    For 2018, East Boston Savings Bank had 35 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $228,484
    Net interest income $164,588
    Total noninterest income $10,850
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $4,219
    Trading account gains and fees $0
    Additional Noninterest Income $6,631
    Pre-tax net operating income $73,000
    Securities gains (or losses, -) $-2,065
    Income before extraordinary items $55,873
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $55,873
    Minority interest net income $0
    Net income $55,873
    Sale, conversion, retirement of capital stock, net $6,354
    Net operating income $57,504

    East Boston Savings Bank's gross interest income from loans was $228,484,000.
    East Boston Savings Bank's net interest income from loans was $164,588,000.
    East Boston Savings Bank's fee based income from loans was $4,219,000.
    East Boston Savings Bank's net income from loans was $55,873,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $63,896
    Provision for credit losses $7,848
    Total noninterest expense $94,590
    Salaries and employee benefits $59,596
    Premises and equipment expense $9,579
    Additional noninterest expense $25,415
    Applicable income taxes $15,062
    Net charge-offs $-198
    Cash dividends $0

    East Boston Savings Bank's interest expense for loans was $63,896,000.
    East Boston Savings Bank's payroll and benefits expense were $59,596,000.
    East Boston Savings Bank's property, plant and equipment expenses $9,579,000.

    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 $4,927,999
    Deposits held in domestic offices $4,927,999
    Deposits by Individuals, partnerships, and corporations $4,698,086
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $145,105
    Deposits by Commercial banks and other depository institutions in U.S. $84,808
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $931,128
    Demand deposits $133,463
    Nontransaction accounts $3,996,871
    Money market deposit accounts (MMDAs) $729,178
    Other savings deposits (excluding MMDAs) $1,581,618
    Total time deposits $1,686,074
    Total time and savings deposits $4,794,536
    Noninterest-bearing deposits $485,293
    Interest-bearing deposits $4,442,706
    Retail deposits $3,962,065
    IRAs and Keogh plan accounts $99,229
    Brokered deposits $564,045
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $6,158,157
    Cash & Balances due from depository institutions $356,797
    Interest-bearing balances $327,974
    Total securities $30,586
    Federal funds sold & reverse repurchase $0
    Net loans and leases $5,594,130
    Loan and leases loss allowance $53,231
    Trading account assets $0
    Bank premises and fixed assets $44,483
    Other real estate owned $0
    Goodwill and other intangibles $23,304
    All other assets $108,857

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $6,158,157
    Total Liabilities $5,563,302
    Total deposits $4,927,999
    Interest-bearing deposits $4,442,706
    Deposits held in domestic offices $4,927,999
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $586,880
    Subordinated debt $0
    All other liabilities $48,423

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $5,594,130
    Loan and leases loss allowance $53,231
    Total loans and leases (domestic) $5,647,361
    All real estate loans $5,191,231
    Real estate loans in domestic offices $5,191,231
    Construction and development loans $691,653
    Residential 1-4 family construction $76,112
    Other construction, all land development and other land $615,541
    Loans secured by nonfarm nonresidential properties $2,790,213
    Nonfarm nonresidential secured by owner-occupied properties $433,736
    Commercial real estate & other non-farm, non-residential $2,356,477
    Multifamily residential real estate $1,010,521
    1-4 family residential loans $698,844
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $99,985
    To non-U.S. addressees $0
    Loans to individuals $10,952
    Credit card loans $0
    Related Plans $282
    Consumer Auto Loans $21
    Other loans to individuals $10,649
    All other loans & leases $345,193
    Loans to foreign governments and official institutions $0
    Other loans $318
    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 $12,341
    Non 1-4 family restructured loans & leases $10,189
    Total loans and leases (foreign) $0

    East Boston Savings Bank had $5,594,130,000 of loans outstanding in 2018. $5,191,231,000 of loans were in real estate loans. $691,653,000 of loans were in development loans. $1,010,521,000 of loans were in multifamily mortgage loans. $698,844,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $21,000 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 469 $156,384 $333,441
    Nonfarm, nonresidential loans - <$100k 31 $1,270 $40,968
    Nonfarm, nonresidential loans - $100-250k 107 $14,695 $137,336
    Nonfarm, nonresidential loans - $250k-1MM 331 $140,419 $424,227
    Commercial & Industrial, US addressed loans - <$1MM 329 $41,636 $126,553
    Commercial & Industrial, US addressed loans - <$100k 155 $2,557 $16,497
    Commercial & Industrial, US addressed loans - $100-250k 66 $7,785 $117,955
    Commercial & Industrial, US addressed loans - $250k-1MM 108 $31,294 $289,759