Sis Bancorp Mhc Mortgage Rates, Fees & Info

SANFORD, ME

LEI: 549300DK2AEMKCO4JZ92

Tax ID: 01-0154810

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Mortgage Data

Bank Data

Review & 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 by origination volume include: Portland, Boston, Manchester, Concord, and Lewiston among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Sis Bancorp Mhc has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

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Originations

441

Origination Dollar Volume (All Markets)

$126,315,000

Employee count

125

Top 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) 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.

Their top states include:
  • Maine (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against SIS BANCORP MHC based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    INFINITY Federal Credit Union
    Similarity Rank: 136
    CASCO
    Similarity Rank: 226
    CUMBERLAND COUNTY
    Similarity Rank: 464
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Kennebec Savings Bank
    Similarity Rank: 535
    Bath Savings Institution
    Similarity Rank: 648
    Maine Savings Federal Credit Union
    Similarity Rank: 650

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Sis Bancorp Mhc's most frequently originated type of loan was Conventional, with 431 originations. Their 2nd most popular type was VA, with 7 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Sis Bancorp Mhc's most frequently cited loan purpose was Home Purchase, with 211 originations. The 2nd most popular reason was 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 2021, Sis Bancorp Mhc's most frequently cited loan duration was 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
    91.21%

    Sis Bancorp Mhc has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.93%

    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 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
    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

    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