Sis Bancorp Mhc Mortgage Rates, Fees & Info

SANFORD, ME

LEI: 549300DK2AEMKCO4JZ92

Tax ID: 01-0154810

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Sis Bancorp Mhc is a smaller mortgage company specializing in Home Purchase loans. Sis Bancorp Mhc has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Portland, Boston, Manchester, Concord, and Lewiston among others. Sis Bancorp Mhc 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

441

Origination Dollar Volume (All Markets)

$126,315,000

Employee count

125

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 327 $86,175,000 $263,532 $0 0.00%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 44 $15,850,000 $360,227 $0 0.00%
Outside of Metro Areas 41 $12,125,000 $295,732 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 9 $3,445,000 $382,778 $0 0.00%
Concord, NH (FHA|USDA|VA) 3 $2,425,000 $808,333 $0 0.00%
LEWISTON-AUBURN, ME (FHA|USDA|VA) 6 $2,180,000 $363,333 $0 0.00%
Laconia, NH (FHA|USDA|VA) 5 $1,995,000 $399,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $795,000 $795,000 $0 0.00%
Augusta-Waterville, ME (FHA|USDA|VA) 2 $640,000 $320,000 $0 0.00%
BANGOR, ME (FHA|USDA|VA) 2 $600,000 $300,000 $0 0.00%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%

Sis Bancorp Mhc's top markets include Portland, Boston, Manchester, Concord, and Lewiston among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 431 $124,115,000 $287,970 $0 0.00%
VA 7 $1,515,000 $216,429 $0 0.00%
USDA 3 $685,000 $228,333 $0 0.00%

For the 2021 period, Sis Bancorp Mhc's most frequently originated loan type of loans were Conventional, with 431 originations. Their 2nd most popular type is VA, with 7 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 211 $77,335,000 $366,517 $0 0.00%
Cash Out Refi 101 $23,095,000 $228,663 $0 0.00%
Refi 89 $20,655,000 $232,079 $0 0.00%
Other 32 $3,790,000 $118,438 $0 0.00%
Home Improvement 8 $1,440,000 $180,000 $0 0.00%

For the 2021, Sis Bancorp Mhc's most frequently cited loan purpose of loans were Home Purchase, with 211 originations. The 2nd most popular reason of loans were Cash Out Refi, with 101 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 441 $126,315,000 $286,429 $0 0.00%

For the 2021, Sis Bancorp Mhc's most frequently cited loan length of loans were Other, with 441 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 138 $37,130,000 $269,058 $0 0.00%
$100k-200k 132 $20,230,000 $153,258 $0 0.00%
$100,000 or less 75 $4,775,000 $63,667 $0 0.00%
$400k-600k 46 $23,070,000 $501,522 $0 0.00%
$600k-1MM 41 $30,505,000 $744,024 $0 0.00%
$1MM+ 9 $10,605,000 $1,178,333 $0 0.00%

2021 saw Sis Bancorp Mhc place emphasis on $200k-400k loans with 138 originations, totaling $37,130,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 93 $25,545,000 $274,677 $0 0.00%
$50k-75k 76 $11,810,000 $155,395 $0 0.00%
$150k-250k 67 $22,735,000 $339,328 $0 0.00%
$250k+ 65 $36,605,000 $563,154 $0 0.00%
$75k-100k 56 $11,620,000 $207,500 $0 0.00%
$50k or less 40 $5,240,000 $131,000 $0 0.00%

Sis Bancorp Mhc lent most frequently to those with incomes in the $100k-150k range, with 93 originations. The second most popular income band? $50k-75k, with 76 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 441 $126,315,000 $286,429 $0 0.00%

Sis Bancorp Mhc lent most frequently to those with DTI ratios of Exempt%, with 441 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 347 $98,105,000 $282,723 $0 0.00%
Not provided 48 $13,880,000 $289,167 $0 0.00%
Not applicable 33 $10,945,000 $331,667 $0 0.00%
Asian 7 $1,415,000 $202,143 $0 0.00%
Black 4 $1,320,000 $330,000 $0 0.00%
American Indian 2 $650,000 $325,000 $0 0.00%

Approval Rates

Total approvals of all applications
91.60%

Sis Bancorp Mhc has an average approval rate.

Pick Rate

Approvals leading to origination
87.68%

Sis Bancorp Mhc has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 441 $126,315,000 $286,429

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
441 $126,315,000 $286,429

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Partners Bank of New England 900 Main St Sanford, ME 4073 Full Service B&M $211,200
Partners Bank of New England Waterboro Crossing, 40 Sokokis Trail East Waterboro, ME 4030 Full Service B&M $23,065
Partners Bank of New England 1149 Post Road Wells, ME 4090 Full Service B&M $68,907
Partners Bank of New England 1449 Main Street Sanford, ME 4073 Full Service B&M $90,390
Partners Bank of New England 243 Central Road Rye, NH 3870 Full Service B&M $20,772
Partners Bank of New England 254 Long Plains Road Buxton, ME 4093 Full Service B&M $65,159
Partners Bank of New England 32 Central Avenue Limerick, ME 4048 Full Service B&M $52,693
Partners Bank of New England 408 U.S. Route 1 York, ME 3909 Full Service B&M $35,544
Partners Bank of New England 484 Main Street Springvale, ME 4083 Full Service B&M $77,197
Partners Bank of New England 501 Islington Street Portsmouth, NH 3801 Full Service B&M $24,081

For 2021, Sis Bancorp Mhc had 10 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $29,106
Net interest income $26,624
Total noninterest income $3,004
Gross Fiduciary activities income $0
Service charges on deposit accounts $300
Trading account gains and fees $0
Additional Noninterest Income $2,704
Pre-tax net operating income $8,301
Securities gains (or losses, -) $4,445
Income before extraordinary items $10,029
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $10,029
Minority interest net income $0
Net income $10,029
Sale, conversion, retirement of capital stock, net $0
Net operating income $6,517

Sis Bancorp Mhc's gross interest income from loans was $29,106,000.
Sis Bancorp Mhc's net interest income from loans was $26,624,000.
Sis Bancorp Mhc's fee based income from loans was $300,000.
Sis Bancorp Mhc's net income from loans was $10,029,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,482
Provision for credit losses $19
Total noninterest expense $21,308
Salaries and employee benefits $12,568
Premises and equipment expense $2,156
Additional noninterest expense $6,584
Applicable income taxes $2,717
Net charge-offs $-24
Cash dividends $0

Sis Bancorp Mhc's interest expense for loans was $2,482,000.
Sis Bancorp Mhc's payroll and benefits expense were $12,568,000.
Sis Bancorp Mhc's property, plant and equipment expenses $2,156,000.

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 $742,139
Deposits held in domestic offices $742,139
Deposits by Individuals, partnerships, and corporations $689,988
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $50,660
Deposits by Commercial banks and other depository institutions in U.S. $1,490
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $362,610
Demand deposits $226,035
Nontransaction accounts $379,528
Money market deposit accounts (MMDAs) $39,794
Other savings deposits (excluding MMDAs) $170,276
Total time deposits $169,458
Total time and savings deposits $516,103
Noninterest-bearing deposits $91,584
Interest-bearing deposits $650,555
Retail deposits $679,936
IRAs and Keogh plan accounts $33,659
Brokered deposits $30,479
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $842,326
Cash & Balances due from depository institutions $56,921
Interest-bearing balances $51,007
Total securities $122,060
Federal funds sold & reverse repurchase $0
Net loans and leases $627,900
Loan and leases loss allowance $8,080
Trading account assets $0
Bank premises and fixed assets $11,917
Other real estate owned $0
Goodwill and other intangibles $564
All other assets $22,964

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $842,326
Total Liabilities $756,213
Total deposits $742,139
Interest-bearing deposits $650,555
Deposits held in domestic offices $742,139
% insured (estimated) $90
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $10,267
Subordinated debt $0
All other liabilities $3,807

Issued Loan Types

Type Value (in 000's)
Net loans and leases $627,900
Loan and leases loss allowance $8,080
Total loans and leases (domestic) $635,980
All real estate loans $585,698
Real estate loans in domestic offices $585,698
Construction and development loans $42,116
Residential 1-4 family construction $14,066
Other construction, all land development and other land $28,050
Loans secured by nonfarm nonresidential properties $162,196
Nonfarm nonresidential secured by owner-occupied properties $65,072
Commercial real estate & other non-farm, non-residential $97,124
Multifamily residential real estate $24,595
1-4 family residential loans $356,791
Farmland loans $0
Loans held in foreign offices $0
Farm loans $261
Commercial and industrial loans $45,790
To non-U.S. addressees $0
Loans to individuals $3,428
Credit card loans $0
Related Plans $116
Consumer Auto Loans $300
Other loans to individuals $3,012
All other loans & leases $802
Loans to foreign governments and official institutions $0
Other loans $30
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $8,489
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $229
Non 1-4 family restructured loans & leases $116
Total loans and leases (foreign) $0

SIS BANCORP MHC had $627,900,000 of loans outstanding in 2021. $585,698,000 of loans were in real estate loans. $42,116,000 of loans were in development loans. $24,595,000 of loans were in multifamily mortgage loans. $356,791,000 of loans were in 1-4 family mortgage loans. $261,000 of loans were in farm loans. $0 of loans were in credit card loans. $300,000 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 258 $62,325 $241,570
Nonfarm, nonresidential loans - <$100k 33 $1,671 $50,636
Nonfarm, nonresidential loans - $100-250k 102 $14,258 $139,784
Nonfarm, nonresidential loans - $250k-1MM 123 $46,396 $377,203
Commercial & Industrial, US addressed loans - <$1MM 562 $31,825 $56,628
Commercial & Industrial, US addressed loans - <$100k 420 $8,254 $19,652
Commercial & Industrial, US addressed loans - $100-250k 76 $6,995 $92,039
Commercial & Industrial, US addressed loans - $250k-1MM 66 $16,576 $251,152
Agriculture operations loans - <$1MM 4 $261 $65,250
Agriculture operations loans - <$100k 2 $15 $7,500
Agriculture operations loans - $100-250k 2 $246 $123,000