Androscoggin Savings Bank Mortgage Rates, Fees & Info

Lewiston, ME

LEI: 549300DDRY04AJC3ZZ52

Tax ID: 01-0020240

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Androscoggin Savings Bank is a smaller bank specializing in Home Purchase loans. Androscoggin Savings Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Portland, Lewiston, Augusta, Boston, and Bangor among others. Androscoggin Savings Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

625

Origination Dollar Volume (All Markets)

$245,705,000

Employee count

198

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 431 $190,035,000 $440,916 $0 0.00%
Outside of Metro Areas 82 $29,610,000 $361,098 $0 0.00%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 74 $14,420,000 $194,865 $0 0.00%
Augusta-Waterville, ME (FHA|USDA|VA) 34 $10,030,000 $295,000 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $1,235,000 $1,235,000 $0 0.00%
BANGOR, ME (FHA|USDA|VA) 3 $375,000 $125,000 $0 0.00%

Androscoggin Savings Bank's top markets include Portland, Lewiston, Augusta, Boston, and Bangor among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 618 $243,950,000 $394,741 $0 0.00%
VA 3 $895,000 $298,333 $0 0.00%
USDA 3 $635,000 $211,667 $0 0.00%
FHA 1 $225,000 $225,000 $0 0.00%

For the 2021 period, Androscoggin Savings Bank's most frequently originated loan type of loans were Conventional, with 618 originations. Their 2nd most popular type is VA, with 3 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 370 $170,380,000 $460,486 $0 0.00%
Cash Out Refi 119 $37,115,000 $311,891 $0 0.00%
Refi 109 $31,465,000 $288,670 $0 0.00%
Other 17 $3,035,000 $178,529 $0 0.00%
Home Improvement 10 $3,710,000 $371,000 $0 0.00%

For the 2021, Androscoggin Savings Bank's most frequently cited loan purpose of loans were Home Purchase, with 370 originations. The 2nd most popular reason of loans were Cash Out Refi, with 119 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 625 $245,705,000 $393,128 $0 0.00%

For the 2021, Androscoggin Savings Bank's most frequently cited loan length of loans were Other, with 625 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 252 $72,870,000 $289,167 $0 0.00%
$400k-600k 124 $61,500,000 $495,968 $0 0.00%
$100k-200k 117 $18,155,000 $155,171 $0 0.00%
$600k-1MM 66 $49,050,000 $743,182 $0 0.00%
$100,000 or less 40 $3,050,000 $76,250 $0 0.00%
$1MM+ 26 $41,080,000 $1,580,000 $0 0.00%

2021 saw Androscoggin Savings Bank place emphasis on $200k-400k loans with 252 originations, totaling $72,870,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 142 $63,010,000 $443,732 $0 0.00%
$100k-150k 126 $42,690,000 $338,810 $0 0.00%
$250k+ 110 $78,510,000 $713,727 $0 0.00%
$50k-75k 109 $23,285,000 $213,624 $0 0.00%
$75k-100k 76 $21,090,000 $277,500 $0 0.00%
$50k or less 37 $5,235,000 $141,486 $0 0.00%

Androscoggin Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 142 originations. The second most popular income band? $100k-150k, with 126 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 625 $245,705,000 $393,128 $0 0.00%

Androscoggin Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 625 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 500 $188,000,000 $376,000 $0 0.00%
Not provided 90 $38,800,000 $431,111 $0 0.00%
Not applicable 22 $11,400,000 $518,182 $0 0.00%
Asian 7 $5,365,000 $766,429 $0 0.00%
Black 5 $1,825,000 $365,000 $0 0.00%
American Indian 1 $315,000 $315,000 $0 0.00%

Approval Rates

Total approvals of all applications
97.91%

Androscoggin Savings Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
84.04%

Androscoggin Savings Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 625 $245,705,000 $393,128

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
625 $245,705,000 $393,128

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Androscoggin Savings Bank 12 Subaru Drive Auburn, ME 4210 Full Service B&M $51,318
Androscoggin Savings Bank 130 Middle Street Portland, ME 4101 Full Service B&M $135,343
Androscoggin Savings Bank 170 Main Street South Paris, ME 4281 Full Service B&M $76,940
Androscoggin Savings Bank 207 Auburn Rd Route 4 Turner, ME 4282 Full Service B&M $79,731
Androscoggin Savings Bank 208 1/2 Maine Street Brunswick, ME 4011 Full Service B&M $186,782
Androscoggin Savings Bank 24 Portland Road Gray, ME 4039 Full Service B&M $85,535
Androscoggin Savings Bank 30 Lisbon St Lewiston, ME 4240 Full Service B&M $236,462
Androscoggin Savings Bank 505 Sabattus Street Lewiston, ME 4240 Full Service B&M $76,330
Androscoggin Savings Bank 580 Lisbon Road Lisbon Falls, ME 4252 Full Service B&M $34,896
Androscoggin Savings Bank 6 Androscoggin Lane Jay, ME 4239 Full Service B&M $87,420
Androscoggin Savings Bank 683 Minot Avenue Auburn, ME 4210 Full Service B&M $85,814

For 2021, Androscoggin Savings Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $41,852
Net interest income $37,694
Total noninterest income $7,071
Gross Fiduciary activities income $1,976
Service charges on deposit accounts $650
Trading account gains and fees $0
Additional Noninterest Income $4,445
Pre-tax net operating income $10,337
Securities gains (or losses, -) $119
Income before extraordinary items $8,697
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $8,697
Minority interest net income $394
Net income $8,303
Sale, conversion, retirement of capital stock, net $0
Net operating income $8,598

Androscoggin Savings Bank's gross interest income from loans was $41,852,000.
Androscoggin Savings Bank's net interest income from loans was $37,694,000.
Androscoggin Savings Bank's fee based income from loans was $650,000.
Androscoggin Savings Bank's net income from loans was $8,303,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $4,158
Provision for credit losses $840
Total noninterest expense $33,588
Salaries and employee benefits $23,178
Premises and equipment expense $3,194
Additional noninterest expense $7,216
Applicable income taxes $1,759
Net charge-offs $790
Cash dividends $0

Androscoggin Savings Bank's interest expense for loans was $4,158,000.
Androscoggin Savings Bank's payroll and benefits expense were $23,178,000.
Androscoggin Savings Bank's property, plant and equipment expenses $3,194,000.

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 $1,195,281
Deposits held in domestic offices $1,195,281
Deposits by Individuals, partnerships, and corporations $1,063,638
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $126,350
Deposits by Commercial banks and other depository institutions in U.S. $5,292
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $547,665
Demand deposits $455,208
Nontransaction accounts $647,615
Money market deposit accounts (MMDAs) $391,714
Other savings deposits (excluding MMDAs) $117,356
Total time deposits $138,545
Total time and savings deposits $740,072
Noninterest-bearing deposits $238,145
Interest-bearing deposits $957,136
Retail deposits $997,685
IRAs and Keogh plan accounts $20,071
Brokered deposits $186,118
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,384,166
Cash & Balances due from depository institutions $115,538
Interest-bearing balances $103,138
Total securities $172,475
Federal funds sold & reverse repurchase $0
Net loans and leases $1,039,341
Loan and leases loss allowance $11,470
Trading account assets $0
Bank premises and fixed assets $7,923
Other real estate owned $682
Goodwill and other intangibles $8,856
All other assets $39,351

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,384,166
Total Liabilities $1,248,355
Total deposits $1,195,281
Interest-bearing deposits $957,136
Deposits held in domestic offices $1,195,281
% insured (estimated) $82
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $32,957
Subordinated debt $0
All other liabilities $20,117

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,039,341
Loan and leases loss allowance $11,470
Total loans and leases (domestic) $1,050,811
All real estate loans $881,040
Real estate loans in domestic offices $881,040
Construction and development loans $27,030
Residential 1-4 family construction $12,589
Other construction, all land development and other land $14,441
Loans secured by nonfarm nonresidential properties $408,305
Nonfarm nonresidential secured by owner-occupied properties $120,345
Commercial real estate & other non-farm, non-residential $287,960
Multifamily residential real estate $58,645
1-4 family residential loans $384,956
Farmland loans $2,104
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $119,334
To non-U.S. addressees $0
Loans to individuals $1,450
Credit card loans $0
Related Plans $502
Consumer Auto Loans $184
Other loans to individuals $764
All other loans & leases $48,987
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 $8,904
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $3,283
Non 1-4 family restructured loans & leases $2,415
Total loans and leases (foreign) $0

Androscoggin Savings Bank had $1,039,341,000 of loans outstanding in 2021. $881,040,000 of loans were in real estate loans. $27,030,000 of loans were in development loans. $58,645,000 of loans were in multifamily mortgage loans. $384,956,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $184,000 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 313 $84,757 $270,789
Nonfarm, nonresidential loans - <$100k 33 $1,413 $42,818
Nonfarm, nonresidential loans - $100-250k 111 $14,137 $127,360
Nonfarm, nonresidential loans - $250k-1MM 169 $69,207 $409,509
Commercial & Industrial, US addressed loans - <$1MM 521 $62,327 $119,630
Commercial & Industrial, US addressed loans - <$100k 330 $9,786 $29,655
Commercial & Industrial, US addressed loans - $100-250k 86 $10,507 $122,174
Commercial & Industrial, US addressed loans - $250k-1MM 105 $42,034 $400,324
Farmland loans - <$1MM 6 $629 $104,833
Farmland loans - <$100k 2 $83 $41,500
Farmland loans - $100-250k 4 $546 $136,500