Dean Co-operative Bank Mortgage Rates, Fees & Info

Franklin, MA

LEI: 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 Cash Out Refi, Home Purchase, and Refi loans. Dean Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Providence, and Barnstable Town 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

287

Origination Dollar Volume (All Markets)

$70,205,000

Employee count

69

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) 162 $45,120,000 $278,519 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 69 $12,535,000 $181,667 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 44 $9,620,000 $218,636 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 11 $2,825,000 $256,818 $0 0.00%
Outside of Metro Areas 1 $105,000 $105,000 $0 0.00%
Dean Co-operative Bank's top markets include Boston, Worcester, Providence, and Barnstable Town among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 287 $70,205,000 $244,617 $0 0.00%

    For 2019, Dean Co-operative Bank's most frequently originated type of loan was Conventional, with 287 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 90 $22,290,000 $247,667 $0 0.00%
    Home Purchase 87 $27,585,000 $317,069 $0 0.00%
    Refi 67 $18,215,000 $271,866 $0 0.00%
    Home Improvement 27 $1,215,000 $45,000 $0 0.00%
    Other 16 $900,000 $56,250 $0 0.00%

    For 2019, Dean Co-operative Bank's most frequently cited loan purpose was Cash Out Refi, with 90 originations. The 2nd most popular reason was Home Purchase, with 87 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 287 $70,205,000 $244,617 $0 0.00%

    For 2019, Dean Co-operative Bank's most frequently cited loan duration was Other, with 287 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 116 $33,950,000 $292,672 $0 0.00%
    $100k-200k 70 $10,610,000 $151,571 $0 0.00%
    $100,000 or less 53 $2,285,000 $43,113 $0 0.00%
    $400k-600k 43 $19,435,000 $451,977 $0 0.00%
    $600k-1MM 4 $2,610,000 $652,500 $0 0.00%
    $1MM+ 1 $1,315,000 $1,315,000 $0 0.00%

    2019 saw Dean Co-operative Bank place emphasis on $200k-400k loans with 116 originations, totaling $33,950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 83 $20,775,000 $250,301 $0 0.00%
    $150k-250k 57 $19,165,000 $336,228 $0 0.00%
    $75k-100k 45 $9,415,000 $209,222 $0 0.00%
    $50k-75k 40 $6,280,000 $157,000 $0 0.00%
    $50k or less 26 $3,430,000 $131,923 $0 0.00%
    $250k+ 18 $7,060,000 $392,222 $0 0.00%

    Dean Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 83 originations. The second most popular income band? $150k-250k, with 57 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 287 $70,205,000 $244,617 $0 0.00%

    Dean Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 287 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 229 $54,065,000 $236,092 $0 0.00%
    Not provided 46 $12,700,000 $276,087 $0 0.00%
    Not applicable 8 $1,710,000 $213,750 $0 0.00%
    Asian 2 $790,000 $395,000 $0 0.00%
    Black 1 $495,000 $495,000 $0 0.00%
    American Indian 1 $445,000 $445,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.88%

    Dean Co-operative Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.84%

    Dean Co-operative Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 287 $70,205,000 $244,617

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $845,000 $281,667
    Single Family (1-4 Units):Site-Built 284 $69,360,000 $244,225

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Dean Co-operative Bank 21 Main Street Franklin, MA 2038 Full Service B&M $155,133
    Dean Co-operative Bank 32 Hastings Street Mendon, MA 1756 Full Service B&M $21,294
    Dean Co-operative Bank 411 Pulaski Boulevard Bellingham, MA 2019 Full Service B&M $55,770
    Dean Co-operative Bank 8 Main Street Blackstone, MA 1504 Full Service B&M $51,155

    For 2019, Dean Co-operative Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,531
    Net interest income $10,755
    Total noninterest income $3,091
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $678
    Trading account gains and fees $0
    Additional Noninterest Income $2,413
    Pre-tax net operating income $2,459
    Securities gains (or losses, -) $14
    Income before extraordinary items $1,923
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,923
    Minority interest net income $0
    Net income $1,923
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,911

    Dean Co-operative Bank's gross interest income from loans was $12,531,000.
    Dean Co-operative Bank's net interest income from loans was $10,755,000.
    Dean Co-operative Bank's fee based income from loans was $678,000.
    Dean Co-operative Bank's net income from loans was $1,923,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,776
    Provision for credit losses $141
    Total noninterest expense $11,246
    Salaries and employee benefits $6,231
    Premises and equipment expense $1,317
    Additional noninterest expense $3,698
    Applicable income taxes $550
    Net charge-offs $146
    Cash dividends $0

    Dean Co-operative Bank's interest expense for loans was $1,776,000.
    Dean Co-operative Bank's payroll and benefits expense were $6,231,000.
    Dean Co-operative Bank's property, plant and equipment expenses $1,317,000.

    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 1.0%
    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 $286,719
    Deposits held in domestic offices $286,719
    Deposits by Individuals, partnerships, and corporations $276,895
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $9,824
    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 $100,755
    Demand deposits $79,857
    Nontransaction accounts $185,964
    Money market deposit accounts (MMDAs) $27,324
    Other savings deposits (excluding MMDAs) $99,411
    Total time deposits $59,229
    Total time and savings deposits $206,862
    Noninterest-bearing deposits $81,104
    Interest-bearing deposits $205,615
    Retail deposits $268,984
    IRAs and Keogh plan accounts $8,073
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $342,822
    Cash & Balances due from depository institutions $7,513
    Interest-bearing balances $4,349
    Total securities $53,022
    Federal funds sold & reverse repurchase $0
    Net loans and leases $264,142
    Loan and leases loss allowance $2,409
    Trading account assets $0
    Bank premises and fixed assets $7,552
    Other real estate owned $0
    Goodwill and other intangibles $173
    All other assets $10,420

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $342,822
    Total Liabilities $313,124
    Total deposits $286,719
    Interest-bearing deposits $205,615
    Deposits held in domestic offices $286,719
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $23,000
    Subordinated debt $0
    All other liabilities $3,405

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $264,142
    Loan and leases loss allowance $2,409
    Total loans and leases (domestic) $266,551
    All real estate loans $247,233
    Real estate loans in domestic offices $247,233
    Construction and development loans $6,659
    Residential 1-4 family construction $570
    Other construction, all land development and other land $6,089
    Loans secured by nonfarm nonresidential properties $47,867
    Nonfarm nonresidential secured by owner-occupied properties $25,804
    Commercial real estate & other non-farm, non-residential $22,063
    Multifamily residential real estate $2,726
    1-4 family residential loans $189,148
    Farmland loans $833
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $15,632
    To non-U.S. addressees $0
    Loans to individuals $3,687
    Credit card loans $0
    Related Plans $35
    Consumer Auto Loans $2,781
    Other loans to individuals $871
    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 $3
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,682
    Non 1-4 family restructured loans & leases $804
    Total loans and leases (foreign) $0

    Dean Co-operative Bank had $264,142,000 of loans outstanding in 2019. $247,233,000 of loans were in real estate loans. $6,659,000 of loans were in development loans. $2,726,000 of loans were in multifamily mortgage loans. $189,148,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,781,000 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 88 $28,309 $321,693
    Nonfarm, nonresidential loans - <$100k 7 $630 $90,000
    Nonfarm, nonresidential loans - $100-250k 18 $2,229 $123,833
    Nonfarm, nonresidential loans - $250k-1MM 63 $25,450 $403,968
    Commercial & Industrial, US addressed loans - <$1MM 241 $11,941 $49,548
    Commercial & Industrial, US addressed loans - <$100k 189 $4,090 $21,640
    Commercial & Industrial, US addressed loans - $100-250k 34 $3,381 $99,441
    Commercial & Industrial, US addressed loans - $250k-1MM 18 $4,470 $248,333
    Farmland loans - <$1MM 1 $264 $264,000
    Farmland loans - $250k-1MM 1 $264 $264,000