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 Refi 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 Pittsfield 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
439Origination Dollar Volume (All Markets)
$124,175,000Employee 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) | 247 | $77,745,000 | $314,757 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 108 | $26,350,000 | $243,981 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 63 | $13,605,000 | $215,952 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 20 | $6,340,000 | $317,000 | $0 | 0.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 439 | $124,175,000 | $282,859 | $0 | 0.00% |
For 2020, Dean Co-operative Bank's most frequently originated type of loan was Conventional, with 439 originations.
Loan Reason
For 2020, Dean Co-operative Bank's most frequently cited loan purpose was Refi, with 194 originations. The 2nd most popular reason was Cash Out Refi, with 140 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 439 | $124,175,000 | $282,859 | $0 | 0.00% |
For 2020, Dean Co-operative Bank's most frequently cited loan duration was Other, with 439 originations.
Loan Sizing
2020 saw Dean Co-operative Bank place emphasis on $200k-400k loans with 219 originations, totaling $63,705,000 in origination value.
Applicant Income
Dean Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 118 originations. The second most popular income band? $150k-250k, with 112 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 439 | $124,175,000 | $282,859 | $0 | 0.00% |
Dean Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 439 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.51%
Dean Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination79.50%
Dean Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 439 | $124,175,000 | $282,859 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 2 | $2,150,000 | $1,075,000 |
| Single Family (1-4 Units):Site-Built | 437 | $122,025,000 | $279,233 |
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 | $182,728 |
| Dean Co-Operative Bank | 32 Hastings Street Mendon, MA 1756 | Full Service B&M | $24,778 |
| Dean Co-Operative Bank | 411 Pulaski Boulevard Bellingham, MA 2019 | Full Service B&M | $63,683 |
| Dean Co-Operative Bank | 8 Main Street Blackstone, MA 1504 | Full Service B&M | $61,775 |
For 2020, Dean Co-operative Bank had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $12,795 |
| Net interest income | $11,643 |
| Total noninterest income | $4,223 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $508 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,715 |
| Pre-tax net operating income | $3,361 |
| Securities gains (or losses, -) | $36 |
| Income before extraordinary items | $2,581 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,581 |
| Minority interest net income | $0 |
| Net income | $2,581 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,552 |
Dean Co-operative Bank's gross interest income from loans was $12,795,000.
Dean Co-operative Bank's net interest income from loans was $11,643,000.
Dean Co-operative Bank's fee based income from loans was $508,000.
Dean Co-operative Bank's net income from loans was $2,581,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,152 |
| Provision for credit losses | $656 |
| Total noninterest expense | $11,849 |
| Salaries and employee benefits | $6,462 |
| Premises and equipment expense | $1,400 |
| Additional noninterest expense | $3,987 |
| Applicable income taxes | $816 |
| Net charge-offs | $81 |
| Cash dividends | $0 |
Dean Co-operative Bank's interest expense for loans was $1,152,000.
Dean Co-operative Bank's payroll and benefits expense were $6,462,000.
Dean Co-operative Bank's property, plant and equipment expenses $1,400,000.
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 | $353,782 |
| Deposits held in domestic offices | $353,782 |
| Deposits by Individuals, partnerships, and corporations | $341,344 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $12,438 |
| 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 | $145,783 |
| Demand deposits | $110,430 |
| Nontransaction accounts | $207,999 |
| Money market deposit accounts (MMDAs) | $34,122 |
| Other savings deposits (excluding MMDAs) | $124,820 |
| Total time deposits | $49,057 |
| Total time and savings deposits | $243,352 |
| Noninterest-bearing deposits | $112,962 |
| Interest-bearing deposits | $240,820 |
| Retail deposits | $339,739 |
| IRAs and Keogh plan accounts | $7,477 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $390,480 |
| Cash & Balances due from depository institutions | $40,938 |
| Interest-bearing balances | $38,306 |
| Total securities | $52,727 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $280,119 |
| Loan and leases loss allowance | $2,983 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $7,003 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $314 |
| All other assets | $9,379 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $390,480 |
| Total Liabilities | $357,603 |
| Total deposits | $353,782 |
| Interest-bearing deposits | $240,820 |
| Deposits held in domestic offices | $353,782 |
| % insured (estimated) | $83 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $3,821 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $280,119 |
| Loan and leases loss allowance | $2,983 |
| Total loans and leases (domestic) | $283,102 |
| All real estate loans | $252,714 |
| Real estate loans in domestic offices | $252,714 |
| Construction and development loans | $2,550 |
| Residential 1-4 family construction | $516 |
| Other construction, all land development and other land | $2,034 |
| Loans secured by nonfarm nonresidential properties | $50,696 |
| Nonfarm nonresidential secured by owner-occupied properties | $21,679 |
| Commercial real estate & other non-farm, non-residential | $29,017 |
| Multifamily residential real estate | $2,633 |
| 1-4 family residential loans | $196,044 |
| Farmland loans | $791 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $27,227 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,161 |
| Credit card loans | $0 |
| Related Plans | $23 |
| Consumer Auto Loans | $2,855 |
| Other loans to individuals | $283 |
| 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 | $0 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $2,526 |
| Non 1-4 family restructured loans & leases | $1,105 |
| Total loans and leases (foreign) | $0 |
Dean Co-operative Bank had $280,119,000 of loans outstanding in 2020. $252,714,000 of loans were in real estate loans. $2,550,000 of loans were in development loans. $2,633,000 of loans were in multifamily mortgage loans. $196,044,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,855,000 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 | $25,908 | $312,145 |
| Nonfarm, nonresidential loans - <$100k | 7 | $669 | $95,571 |
| Nonfarm, nonresidential loans - $100-250k | 16 | $1,866 | $116,625 |
| Nonfarm, nonresidential loans - $250k-1MM | 60 | $23,373 | $389,550 |
| Commercial & Industrial, US addressed loans - <$1MM | 481 | $23,398 | $48,644 |
| Commercial & Industrial, US addressed loans - <$100k | 394 | $9,715 | $24,657 |
| Commercial & Industrial, US addressed loans - $100-250k | 62 | $6,939 | $111,919 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 25 | $6,744 | $269,760 |
| Farmland loans - <$1MM | 1 | $234 | $234,000 |
| Farmland loans - $250k-1MM | 1 | $234 | $234,000 |