Androscoggin Savings Bank Mortgage Rates, Fees & Info
Lewiston, MELEI: 549300DDRY04AJC3ZZ52
Tax ID: 01-0020240
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Mortgage Data
Bank Data
Review & Overview
Androscoggin Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Androscoggin Savings Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Portland, Lewiston, Augusta, and Bangor among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Androscoggin Savings 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.
We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.57% | 4/21/24 |
| 30 Year Conventional Refi | 7.05% | 4/21/24 |
| 30 Year Cash-out Refi | 6.62% | 4/21/24 |
| 30 Year FHA Purchase | 7.13% | 4/21/24 |
| 30 Year VA Purchase | 6.13% | 4/21/24 |
| 30 Year USDA Purchase | 6.43% | 4/21/24 |
| 15 Year Conventional Purchase | 6.19% | 4/21/24 |
| 15 Year Conventional Refi | 6.82% | 4/21/24 |
| 15 Year Cash-out Refi | 6.82% | 4/21/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Androscoggin Savings Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
791Origination Dollar Volume (All Markets)
$267,375,000Employee count
182Top 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 |
|---|---|---|---|---|---|
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 589 | $225,655,000 | $383,115 | $0 | 0.00% |
| Outside of Metro Areas | 75 | $19,425,000 | $259,000 | $0 | 0.00% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 94 | $16,010,000 | $170,319 | $0 | 0.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 29 | $5,545,000 | $191,207 | $0 | 0.00% |
| BANGOR, ME (FHA|USDA|VA) | 4 | $740,000 | $185,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Androscoggin Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
For 2020, Androscoggin Savings Bank's most frequently originated type of loan was Conventional, with 774 originations. Their 2nd most popular type was FHA, with 9 originations.
Loan Reason
For 2020, Androscoggin Savings Bank's most frequently cited loan purpose was Home Purchase, with 341 originations. The 2nd most popular reason was Refi, with 285 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 791 | $267,375,000 | $338,021 | $0 | 0.00% |
For 2020, Androscoggin Savings Bank's most frequently cited loan duration was Other, with 791 originations.
Loan Sizing
2020 saw Androscoggin Savings Bank place emphasis on $200k-400k loans with 393 originations, totaling $111,885,000 in origination value.
Applicant Income
Androscoggin Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 175 originations. The second most popular income band? $150k-250k, with 150 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 791 | $267,375,000 | $338,021 | $0 | 0.00% |
Androscoggin Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 791 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.05%
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 origination81.42%
Androscoggin Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 791 | $267,375,000 | $338,021 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Androscoggin Savings Bank | 12 Subaru Drive Auburn, ME 4210 | Full Service B&M | $46,335 |
| Androscoggin Savings Bank | 130 Middle Street Portland, ME 4101 | Full Service B&M | $177,265 |
| Androscoggin Savings Bank | 170 Main Street South Paris, ME 4281 | Full Service B&M | $55,079 |
| Androscoggin Savings Bank | 207 Auburn Rd Route 4 Turner, ME 4282 | Full Service B&M | $81,963 |
| Androscoggin Savings Bank | 208 1/2 Maine Street Brunswick, ME 4011 | Full Service B&M | $90,824 |
| Androscoggin Savings Bank | 24 Portland Road Gray, ME 4039 | Full Service B&M | $85,931 |
| Androscoggin Savings Bank | 242 Bath Road Brunswick, ME 4011 | Full Service B&M | $54,429 |
| Androscoggin Savings Bank | 30 Lisbon Street Lewiston, ME 4240 | Full Service B&M | $204,193 |
| Androscoggin Savings Bank | 505 Sabattus Street Lewiston, ME 4240 | Full Service B&M | $67,308 |
| Androscoggin Savings Bank | 580 Lisbon Road Lisbon Falls, ME 4252 | Full Service B&M | $33,856 |
| Androscoggin Savings Bank | 6 Androscoggin Lane Jay, ME 4239 | Full Service B&M | $80,179 |
| Androscoggin Savings Bank | 683 Minot Avenue Auburn, ME 4210 | Full Service B&M | $77,207 |
For 2020, Androscoggin Savings Bank had 12 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $43,743 |
| Net interest income | $36,415 |
| Total noninterest income | $7,784 |
| Gross Fiduciary activities income | $1,714 |
| Service charges on deposit accounts | $702 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $5,368 |
| Pre-tax net operating income | $10,094 |
| Securities gains (or losses, -) | $96 |
| Income before extraordinary items | $8,469 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $8,469 |
| Minority interest net income | $303 |
| Net income | $8,166 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $8,389 |
Androscoggin Savings Bank's gross interest income from loans was $43,743,000.
Androscoggin Savings Bank's net interest income from loans was $36,415,000.
Androscoggin Savings Bank's fee based income from loans was $702,000.
Androscoggin Savings Bank's net income from loans was $8,166,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $7,328 |
| Provision for credit losses | $2,152 |
| Total noninterest expense | $31,953 |
| Salaries and employee benefits | $22,461 |
| Premises and equipment expense | $3,314 |
| Additional noninterest expense | $6,178 |
| Applicable income taxes | $1,721 |
| Net charge-offs | $28 |
| Cash dividends | $0 |
Androscoggin Savings Bank's interest expense for loans was $7,328,000.
Androscoggin Savings Bank's payroll and benefits expense were $22,461,000.
Androscoggin Savings Bank's property, plant and equipment expenses $3,314,000.
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 | 1.0% |
| 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 | $1,165,789 |
| Deposits held in domestic offices | $1,165,789 |
| Deposits by Individuals, partnerships, and corporations | $1,018,808 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $140,286 |
| Deposits by Commercial banks and other depository institutions in U.S. | $6,695 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $192,474 |
| Demand deposits | $144,969 |
| Nontransaction accounts | $973,315 |
| Money market deposit accounts (MMDAs) | $344,375 |
| Other savings deposits (excluding MMDAs) | $471,150 |
| Total time deposits | $157,790 |
| Total time and savings deposits | $1,020,820 |
| Noninterest-bearing deposits | $185,986 |
| Interest-bearing deposits | $979,803 |
| Retail deposits | $961,036 |
| IRAs and Keogh plan accounts | $20,786 |
| Brokered deposits | $186,090 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,365,796 |
| Cash & Balances due from depository institutions | $198,805 |
| Interest-bearing balances | $177,894 |
| Total securities | $114,164 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $990,984 |
| Loan and leases loss allowance | $11,420 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $9,308 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $8,514 |
| All other assets | $44,021 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,365,796 |
| Total Liabilities | $1,237,515 |
| Total deposits | $1,165,789 |
| Interest-bearing deposits | $979,803 |
| Deposits held in domestic offices | $1,165,789 |
| % insured (estimated) | $84 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $43,662 |
| Subordinated debt | $0 |
| All other liabilities | $28,064 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $990,984 |
| Loan and leases loss allowance | $11,420 |
| Total loans and leases (domestic) | $1,002,404 |
| All real estate loans | $789,029 |
| Real estate loans in domestic offices | $789,029 |
| Construction and development loans | $16,568 |
| Residential 1-4 family construction | $8,367 |
| Other construction, all land development and other land | $8,201 |
| Loans secured by nonfarm nonresidential properties | $411,697 |
| Nonfarm nonresidential secured by owner-occupied properties | $131,258 |
| Commercial real estate & other non-farm, non-residential | $280,439 |
| Multifamily residential real estate | $27,693 |
| 1-4 family residential loans | $331,984 |
| Farmland loans | $1,087 |
| Loans held in foreign offices | $0 |
| Farm loans | $99 |
| Commercial and industrial loans | $172,741 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,773 |
| Credit card loans | $0 |
| Related Plans | $739 |
| Consumer Auto Loans | $177 |
| Other loans to individuals | $857 |
| All other loans & leases | $38,761 |
| 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 | $9,449 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $4,014 |
| Non 1-4 family restructured loans & leases | $3,030 |
| Total loans and leases (foreign) | $0 |
Androscoggin Savings Bank had $990,984,000 of loans outstanding in 2020. $789,029,000 of loans were in real estate loans. $16,568,000 of loans were in development loans. $27,693,000 of loans were in multifamily mortgage loans. $331,984,000 of loans were in 1-4 family mortgage loans. $99,000 of loans were in farm loans. $0 of loans were in credit card loans. $177,000 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 | 327 | $82,908 | $253,541 |
| Nonfarm, nonresidential loans - <$100k | 46 | $1,814 | $39,435 |
| Nonfarm, nonresidential loans - $100-250k | 125 | $15,709 | $125,672 |
| Nonfarm, nonresidential loans - $250k-1MM | 156 | $65,385 | $419,135 |
| Commercial & Industrial, US addressed loans - <$1MM | 866 | $87,290 | $100,797 |
| Commercial & Industrial, US addressed loans - <$100k | 598 | $19,708 | $32,957 |
| Commercial & Industrial, US addressed loans - $100-250k | 155 | $18,988 | $122,503 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 113 | $48,594 | $430,035 |
| Farmland loans - <$1MM | 6 | $467 | $77,833 |
| Farmland loans - <$100k | 2 | $104 | $52,000 |
| Farmland loans - $100-250k | 4 | $363 | $90,750 |
| Agriculture operations loans - <$1MM | 1 | $99 | $99,000 |
| Agriculture operations loans - <$100k | 1 | $99 | $99,000 |