Dean Co-operative Bank Mortgage Rates, Fees & Info
Franklin, MALEI: 549300DASRDHPPEK5V15
Tax ID: 04-1237280
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Mortgage Data
Bank Data
Review & Overview
Dean Co-operative Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Dean Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Providence, Barnstable Town, and Springfield among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Dean 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.
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Originations
238Origination Dollar Volume (All Markets)
$50,410,000Employee count
67Top 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) | 127 | $28,685,000 | $225,866 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 51 | $9,745,000 | $191,078 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 51 | $9,615,000 | $188,529 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 8 | $2,260,000 | $282,500 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 238 | $50,410,000 | $211,807 | $0 | 0.00% |
For 2018, Dean Co-operative Bank's most frequently originated type of loan was Conventional, with 238 originations.
Loan Reason
For 2018, Dean Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 111 originations. The 2nd most popular reason was Cash Out Refi, with 73 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 238 | $50,410,000 | $211,807 | $0 | 0.00% |
For 2018, Dean Co-operative Bank's most frequently cited loan duration was Other, with 238 originations.
Loan Sizing
2018 saw Dean Co-operative Bank place emphasis on $200k-400k loans with 78 originations, totaling $22,840,000 in origination value.
Applicant Income
Dean Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $150k-250k, with 51 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 238 | $50,410,000 | $211,807 | $0 | 0.00% |
Dean Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 238 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.35%
Dean Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination86.13%
Dean Co-operative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 238 | $50,410,000 | $211,807 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 7 | $1,905,000 | $272,143 |
| Single Family (1-4 Units):Site-Built | 231 | $48,505,000 | $209,978 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Dean Co-operative Bank | 32 Hastings Street Mendon, MA 1756 | Full Service B&M | $18,445 |
| Dean Co-operative Bank | 21 Main Street Franklin, MA 2038 | Full Service B&M | $141,958 |
| Dean Co-operative Bank | 411 Pulaski Boulevard Bellingham, MA 2019 | Full Service B&M | $51,048 |
| Dean Co-operative Bank | 8 Main Street Blackstone, MA 1504 | Full Service B&M | $48,576 |
For 2018, Dean Co-operative Bank had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $11,059 |
| Net interest income | $9,969 |
| Total noninterest income | $2,711 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $707 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,004 |
| Pre-tax net operating income | $1,975 |
| Securities gains (or losses, -) | $17 |
| Income before extraordinary items | $1,588 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,588 |
| Minority interest net income | $0 |
| Net income | $1,588 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,574 |
Dean Co-operative Bank's gross interest income from loans was $11,059,000.
Dean Co-operative Bank's net interest income from loans was $9,969,000.
Dean Co-operative Bank's fee based income from loans was $707,000.
Dean Co-operative Bank's net income from loans was $1,588,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,090 |
| Provision for credit losses | $0 |
| Total noninterest expense | $10,705 |
| Salaries and employee benefits | $6,058 |
| Premises and equipment expense | $1,208 |
| Additional noninterest expense | $3,439 |
| Applicable income taxes | $404 |
| Net charge-offs | $2 |
| Cash dividends | $0 |
Dean Co-operative Bank's interest expense for loans was $1,090,000.
Dean Co-operative Bank's payroll and benefits expense were $6,058,000.
Dean Co-operative Bank's property, plant and equipment expenses $1,208,000.
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 | $265,459 |
| Deposits held in domestic offices | $265,459 |
| Deposits by Individuals, partnerships, and corporations | $256,772 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $8,687 |
| 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 | $90,577 |
| Demand deposits | $72,536 |
| Nontransaction accounts | $174,882 |
| Money market deposit accounts (MMDAs) | $27,001 |
| Other savings deposits (excluding MMDAs) | $99,326 |
| Total time deposits | $48,555 |
| Total time and savings deposits | $192,923 |
| Noninterest-bearing deposits | $73,738 |
| Interest-bearing deposits | $191,721 |
| Retail deposits | $252,274 |
| IRAs and Keogh plan accounts | $7,895 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $317,254 |
| Cash & Balances due from depository institutions | $7,043 |
| Interest-bearing balances | $3,946 |
| Total securities | $52,712 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $239,445 |
| Loan and leases loss allowance | $2,414 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $7,478 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $155 |
| All other assets | $10,421 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $317,254 |
| Total Liabilities | $290,241 |
| Total deposits | $265,459 |
| Interest-bearing deposits | $191,721 |
| Deposits held in domestic offices | $265,459 |
| % insured (estimated) | $86 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $21,500 |
| Subordinated debt | $0 |
| All other liabilities | $3,282 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $239,445 |
| Loan and leases loss allowance | $2,414 |
| Total loans and leases (domestic) | $241,859 |
| All real estate loans | $227,584 |
| Real estate loans in domestic offices | $227,584 |
| Construction and development loans | $11,164 |
| Residential 1-4 family construction | $1,695 |
| Other construction, all land development and other land | $9,469 |
| Loans secured by nonfarm nonresidential properties | $38,511 |
| Nonfarm nonresidential secured by owner-occupied properties | $26,150 |
| Commercial real estate & other non-farm, non-residential | $12,361 |
| Multifamily residential real estate | $2,549 |
| 1-4 family residential loans | $174,483 |
| Farmland loans | $877 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $12,051 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,224 |
| Credit card loans | $0 |
| Related Plans | $36 |
| Consumer Auto Loans | $1,932 |
| Other loans to individuals | $256 |
| 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 | $8 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $3,239 |
| Non 1-4 family restructured loans & leases | $1,998 |
| Total loans and leases (foreign) | $0 |
Dean Co-operative Bank had $239,445,000 of loans outstanding in 2018. $227,584,000 of loans were in real estate loans. $11,164,000 of loans were in development loans. $2,549,000 of loans were in multifamily mortgage loans. $174,483,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,932,000 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 | 83 | $26,997 | $325,265 |
| Nonfarm, nonresidential loans - <$100k | 7 | $659 | $94,143 |
| Nonfarm, nonresidential loans - $100-250k | 20 | $2,400 | $120,000 |
| Nonfarm, nonresidential loans - $250k-1MM | 56 | $23,938 | $427,464 |
| Commercial & Industrial, US addressed loans - <$1MM | 222 | $10,553 | $47,536 |
| Commercial & Industrial, US addressed loans - <$100k | 187 | $4,265 | $22,807 |
| Commercial & Industrial, US addressed loans - $100-250k | 21 | $2,452 | $116,762 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 14 | $3,836 | $274,000 |
| Farmland loans - <$1MM | 1 | $293 | $293,000 |
| Farmland loans - $250k-1MM | 1 | $293 | $293,000 |