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 Cash Out Refi loans. East Boston Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Providence, Vineyard Haven, Manchester, and Worcester among others. We have data for 7 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

    390

    Origination Dollar Volume (All Markets)

    $399,410,000

    Employee count

    514

    Awards

    East Boston Savings Bank 30 Year Conventional Loans silver
    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) 369 $341,085,000 $924,350 $3,603 4.27%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 9 $49,025,000 $5,447,222 $3,170 3.60%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $3,125,000 $3,125,000 $0 4.99%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $2,785,000 $928,333 $2,675 4.54%
    WORCESTER, MA-CT (FHA|USDA|VA) 6 $1,840,000 $306,667 $2,988 4.23%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $1,185,000 $1,185,000 $0 4.50%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $365,000 $365,000 $2,530 3.38%
    East Boston Savings Bank's top markets include Boston, Providence, Vineyard Haven, Manchester, and Worcester among others.

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

    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 390 $399,410,000 $1,024,128 $3,573 4.26%

    For 2019, East Boston Savings Bank's most frequently originated type of loan was Conventional, with 390 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 189 $219,525,000 $1,161,508 $3,918 4.28%
    Cash Out Refi 141 $122,785,000 $870,816 $3,275 4.28%
    Refi 54 $24,230,000 $448,704 $3,188 3.99%
    Home Improvement 6 $32,870,000 $5,478,333 $0 5.21%

    For 2019, East Boston Savings Bank's most frequently cited loan purpose was Home Purchase, with 189 originations. The 2nd most popular reason was Cash Out Refi, with 141 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 291 $197,325,000 $678,093 $3,630 4.25%
    Other 34 $118,900,000 $3,497,059 $3,361 5.09%
    15 Year 24 $4,650,000 $193,750 $1,990 2.92%
    20 Year 12 $4,220,000 $351,667 $3,015 3.88%
    10 Year 11 $54,785,000 $4,980,455 $2,516 4.34%
    30+ year 9 $6,165,000 $685,000 $8,161 4.11%
    1 Year 8 $11,610,000 $1,451,250 $0 5.50%
    3 Year 1 $1,755,000 $1,755,000 $0 5.00%

    For 2019, East Boston Savings Bank's most frequently cited loan duration was 30 Year, with 291 originations. The 2nd most popular length was Other, with 34 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 180 $79,440,000 $441,333
    $1k-2k 33 $18,855,000 $571,364
    $2k-3k 7 $2,815,000 $402,143
    $4k-5k 3 $2,055,000 $685,000
    $5k+ 3 $2,755,000 $918,333
    $3k-4k 2 $820,000 $410,000

    East Boston Savings Bank's average total fees were $3,630, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 180 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 189 $198,245,000 $1,048,915
    3-4% 155 $115,545,000 $745,452
    5-6% 32 $79,890,000 $2,496,563
    <2.5% 6 $40,000 $6,667
    2.5-3% 5 $1,325,000 $265,000
    6-7% 3 $4,365,000 $1,455,000

    During 2019, East Boston Savings Bank's average interest rate for loans was 4.25%, while their most frequently originated rate bucket for loans was 4-5%, with 189 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 125 $37,265,000 $298,120 $3,198 4.08%
    $400k-600k 91 $43,855,000 $481,923 $3,523 4.27%
    $600k-1MM 70 $52,740,000 $753,429 $4,948 4.40%
    $1MM+ 68 $260,940,000 $3,837,353 $6,337 4.83%
    $100k-200k 30 $4,570,000 $152,333 $2,606 3.97%
    $100,000 or less 6 $40,000 $6,667 $12 1.00%

    2019 saw East Boston Savings Bank place emphasis on $200k-400k loans with 125 originations, totaling $37,265,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 71 $35,285,000 $496,972 $3,979 4.04%
    $250k+ 56 $51,650,000 $922,321 $4,562 4.15%
    $100k-150k 54 $19,150,000 $354,630 $3,349 4.05%
    $75k-100k 40 $11,880,000 $297,000 $2,969 3.83%
    $50k-75k 39 $8,845,000 $226,795 $2,831 3.62%
    $50k or less 9 $1,605,000 $178,333 $3,098 3.94%

    East Boston Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 71 originations. The second most popular income band? $250k+, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 63 $34,515,000 $547,857 $3,495 3.87%
    30-36% 57 $24,465,000 $429,211 $3,494 3.92%
    <20% 18 $7,030,000 $390,556 $2,876 4.11%
    44% 18 $8,000,000 $444,444 $3,778 3.90%
    37% 17 $10,495,000 $617,353 $4,220 4.21%
    41% 15 $6,995,000 $466,333 $3,595 4.12%
    43% 14 $6,170,000 $440,714 $4,649 4.15%
    36% 13 $5,435,000 $418,077 $3,223 3.66%
    39% 11 $5,515,000 $501,364 $4,800 4.11%
    40% 9 $5,005,000 $556,111 $2,846 4.13%
    42% 8 $4,540,000 $567,500 $3,858 3.95%
    38% 8 $4,670,000 $583,750 $4,543 4.19%
    48% 6 $1,450,000 $241,667 $2,583 3.67%
    46% 6 $2,140,000 $356,667 $2,620 3.88%
    49% 6 $2,060,000 $343,333 $3,432 3.96%
    45% 4 $1,120,000 $280,000 $2,476 4.06%
    50-60% 4 $3,780,000 $945,000 $3,742 3.84%
    47% 3 $1,145,000 $381,667 $2,895 3.71%
    >60% 2 $600,000 $300,000 $2,676 4.13%

    East Boston Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 63 originations. The next most common DTI ratio? 30-36%, with 57 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 101 $259,135,000 $2,565,693 $0 5.02%
    White 240 $113,790,000 $474,125 $3,551 3.96%
    Asian 20 $14,180,000 $709,000 $3,487 4.33%
    Not provided 18 $9,100,000 $505,556 $4,792 4.22%
    Black 11 $3,205,000 $291,364 $2,622 3.58%

    Approval Rates

    Total approvals of all applications
    93.23%

    East Boston Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.56%

    East Boston Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 390 $399,410,000 $1,024,128

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 41 $194,485,000 $4,743,537
    Single Family (1-4 Units):Site-Built 349 $204,925,000 $587,178

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 44 $51,620,000 $1,173,182 $2,918 4.11%
    40-60% 88 $120,090,000 $1,364,659 $3,397 4.24%
    60-80% 174 $182,640,000 $1,049,655 $3,632 4.53%
    80-100% 72 $41,790,000 $580,417 $4,281 3.99%
    Under 20% 12 $3,270,000 $272,500 $1,006 2.59%

    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 $97,848
    East Boston Savings Bank 10 Elm Street Danvers, MA 1923 Full Service B&M $273,094
    East Boston Savings Bank 10 Meridian Street Boston, MA 2128 Full Service B&M $84,361
    East Boston Savings Bank 1050 Beacon Street Brookline, MA 2446 Full Service B&M $42,433
    East Boston Savings Bank 108 Main Street Melrose, MA 2176 Full Service B&M $91,798
    East Boston Savings Bank 1134 Washington Street Boston, MA 2118 Full Service B&M $36,615
    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 $75,982
    East Boston Savings Bank 1441 Beacon Street Brookline, MA 2446 Full Service B&M $48,581
    East Boston Savings Bank 15 Bartlett Road Winthrop, MA 2152 Full Service B&M $145,742
    East Boston Savings Bank 1614 Tremont Street Boston, MA 2120 Full Service B&M $4,029
    East Boston Savings Bank 1755 Revere Beach Parkway Everett, MA 2149 Full Service B&M $115,210
    East Boston Savings Bank 181 Brighton Avenue Allston, MA 2134 Full Service B&M $44,347
    East Boston Savings Bank 1952-1956 Beacon Street Boston, MA 2135 Full Service B&M $15,919
    East Boston Savings Bank 1981-1985 Centre Street West Roxbury, MA 2132 Full Service B&M $84,375
    East Boston Savings Bank 2172 Massachusetts Avenue Cambridge, MA 2140 Full Service B&M $40,799
    East Boston Savings Bank 2250 Dorchester Avenue Boston, MA 2124 Full Service B&M $73,799
    East Boston Savings Bank 24 Broadway, Route 1 South Lynnfield, MA 1940 Full Service B&M $6,668
    East Boston Savings Bank 305 Talbot Avenue Dorchester, MA 2124 Full Service B&M $52,927
    East Boston Savings Bank 317 Main Street Saugus, MA 1906 Full Service B&M $115,498
    East Boston Savings Bank 320 Central Street Saugus, MA 1906 Full Service B&M $113,739
    East Boston Savings Bank 335 Broadway Lynn, MA 1903 Full Service B&M $65,689
    East Boston Savings Bank 37 Union Square Somerville, MA 2143 Full Service B&M $56,962
    East Boston Savings Bank 381 Main Street Wakefield, MA 1880 Full Service B&M $87,553
    East Boston Savings Bank 410 Riverside Avenue Medford, MA 2155 Full Service B&M $68,345
    East Boston Savings Bank 4238 Washington St Roslindale, MA 2131 Full Service B&M $10,679
    East Boston Savings Bank 430 West Broadway South Boston, MA 2127 Full Service B&M $780,600
    East Boston Savings Bank 489 Gallivan Boulevard Dorchester, MA 2124 Full Service B&M $106,126
    East Boston Savings Bank 50 Summit Drive Burlington, MA 1803 Full Service B&M $13,455
    East Boston Savings Bank 501 South Hampton Street South Boston, MA 2127 Full Service B&M $74,502
    East Boston Savings Bank 515 Centre Street Boston, MA 2130 Full Service B&M $94,546
    East Boston Savings Bank 575 Broadway Revere, MA 2151 Full Service B&M $117,777
    East Boston Savings Bank 67 Prospect St Peabody, MA 1960 Full Service B&M $1,480,294
    East Boston Savings Bank 70 Concord Avenue Belmont, MA 2478 Full Service B&M $120,325
    East Boston Savings Bank 708 East Broadway South Boston, MA 2127 Full Service B&M $109,966
    East Boston Savings Bank 856 Bennington Street Boston, MA 2128 Full Service B&M $207,886
    East Boston Savings Bank 95 Kneeland Street Boston, MA 2111 Full Service B&M $37,870
    East Boston Savings Bank 960 Morrissey Blvd. Dorchester, MA 2122 Full Service B&M $32,472

    For 2019, East Boston Savings Bank had 38 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $267,096
    Net interest income $173,294
    Total noninterest income $10,946
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $4,033
    Trading account gains and fees $0
    Additional Noninterest Income $6,913
    Pre-tax net operating income $86,958
    Securities gains (or losses, -) $2,019
    Income before extraordinary items $67,131
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $67,131
    Minority interest net income $0
    Net income $67,131
    Sale, conversion, retirement of capital stock, net $6,250
    Net operating income $65,535

    East Boston Savings Bank's gross interest income from loans was $267,096,000.
    East Boston Savings Bank's net interest income from loans was $173,294,000.
    East Boston Savings Bank's fee based income from loans was $4,033,000.
    East Boston Savings Bank's net income from loans was $67,131,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $93,802
    Provision for credit losses $-2,561
    Total noninterest expense $99,843
    Salaries and employee benefits $61,994
    Premises and equipment expense $11,125
    Additional noninterest expense $26,724
    Applicable income taxes $21,846
    Net charge-offs $348
    Cash dividends $0

    East Boston Savings Bank's interest expense for loans was $93,802,000.
    East Boston Savings Bank's payroll and benefits expense were $61,994,000.
    East Boston Savings Bank's property, plant and equipment expenses $11,125,000.

    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 $4,936,523
    Deposits held in domestic offices $4,936,523
    Deposits by Individuals, partnerships, and corporations $4,632,151
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $231,078
    Deposits by Commercial banks and other depository institutions in U.S. $73,294
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $1,006,568
    Demand deposits $147,867
    Nontransaction accounts $3,929,955
    Money market deposit accounts (MMDAs) $675,702
    Other savings deposits (excluding MMDAs) $1,684,337
    Total time deposits $1,569,916
    Total time and savings deposits $4,788,656
    Noninterest-bearing deposits $524,006
    Interest-bearing deposits $4,412,517
    Retail deposits $4,029,404
    IRAs and Keogh plan accounts $145,474
    Brokered deposits $555,051
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $6,333,078
    Cash & Balances due from depository institutions $396,089
    Interest-bearing balances $357,992
    Total securities $30,309
    Federal funds sold & reverse repurchase $0
    Net loans and leases $5,700,310
    Loan and leases loss allowance $50,322
    Trading account assets $0
    Bank premises and fixed assets $65,377
    Other real estate owned $0
    Goodwill and other intangibles $22,673
    All other assets $118,320

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $6,333,078
    Total Liabilities $5,649,641
    Total deposits $4,936,523
    Interest-bearing deposits $4,412,517
    Deposits held in domestic offices $4,936,523
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $653,970
    Subordinated debt $0
    All other liabilities $59,148

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $5,700,310
    Loan and leases loss allowance $50,322
    Total loans and leases (domestic) $5,750,632
    All real estate loans $5,290,226
    Real estate loans in domestic offices $5,290,226
    Construction and development loans $714,441
    Residential 1-4 family construction $64,751
    Other construction, all land development and other land $649,690
    Loans secured by nonfarm nonresidential properties $2,839,856
    Nonfarm nonresidential secured by owner-occupied properties $422,591
    Commercial real estate & other non-farm, non-residential $2,417,265
    Multifamily residential real estate $1,003,418
    1-4 family residential loans $732,511
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $97,984
    To non-U.S. addressees $0
    Loans to individuals $12,196
    Credit card loans $0
    Related Plans $290
    Consumer Auto Loans $7
    Other loans to individuals $11,899
    All other loans & leases $350,226
    Loans to foreign governments and official institutions $0
    Other loans $315
    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 $2,353
    Non 1-4 family restructured loans & leases $252
    Total loans and leases (foreign) $0

    East Boston Savings Bank had $5,700,310,000 of loans outstanding in 2019. $5,290,226,000 of loans were in real estate loans. $714,441,000 of loans were in development loans. $1,003,418,000 of loans were in multifamily mortgage loans. $732,511,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $7,000 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 463 $158,208 $341,702
    Nonfarm, nonresidential loans - <$100k 28 $1,078 $38,500
    Nonfarm, nonresidential loans - $100-250k 98 $12,765 $130,255
    Nonfarm, nonresidential loans - $250k-1MM 337 $144,365 $428,383
    Commercial & Industrial, US addressed loans - <$1MM 371 $35,456 $95,569
    Commercial & Industrial, US addressed loans - <$100k 220 $3,523 $16,014
    Commercial & Industrial, US addressed loans - $100-250k 56 $6,465 $115,446
    Commercial & Industrial, US addressed loans - $250k-1MM 95 $25,468 $268,084