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 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
287Origination Dollar Volume (All Markets)
$70,205,000Employee count
69Top 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% |
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
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
2019 saw Dean Co-operative Bank place emphasis on $200k-400k loans with 116 originations, totaling $33,950,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications91.88%
Dean Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination80.84%
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 |