Winchester Co-operative Bank Mortgage Rates, Fees & Info
Winchester, MALEI: 549300E4I5AJ7XJ4DL31
Tax ID: 04-1978070
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Mortgage Data
Bank Data
Review & Overview
Winchester Co-operative Bank is a smaller bank specializing in Refi and Home Purchase loans. Winchester Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Manchester, Laconia, and Portland among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Winchester 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
329Origination Dollar Volume (All Markets)
$154,395,000Employee count
53Top 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) | 308 | $146,130,000 | $474,448 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 5 | $2,495,000 | $499,000 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 5 | $1,475,000 | $295,000 | $0 | 0.00% |
| Laconia, NH (FHA|USDA|VA) | 2 | $1,170,000 | $585,000 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $960,000 | $480,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $515,000 | $515,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $0 | 0.00% |
| Concord, NH (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| Lebanon, NH-VT (FHA|USDA|VA) | 2 | $350,000 | $175,000 | $0 | 0.00% |
| Berlin, NH (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 329 | $154,395,000 | $469,286 | $0 | 0.00% |
For 2020, Winchester Co-operative Bank's most frequently originated type of loan was Conventional, with 329 originations.
Loan Reason
For 2020, Winchester Co-operative Bank's most frequently cited loan purpose was Refi, with 165 originations. The 2nd most popular reason was Home Purchase, with 101 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 329 | $154,395,000 | $469,286 | $0 | 0.00% |
For 2020, Winchester Co-operative Bank's most frequently cited loan duration was Other, with 329 originations.
Loan Sizing
2020 saw Winchester Co-operative Bank place emphasis on $200k-400k loans with 117 originations, totaling $35,955,000 in origination value.
Applicant Income
Winchester Co-operative Bank lent most frequently to those with incomes in the $250k+ range, with 98 originations. The second most popular income band? $150k-250k, with 89 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 329 | $154,395,000 | $469,286 | $0 | 0.00% |
Winchester Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 329 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.49%
Winchester Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination87.54%
Winchester Co-operative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 329 | $154,395,000 | $469,286 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 3 | $2,675,000 | $891,667 |
| Single Family (1-4 Units):Site-Built | 326 | $151,720,000 | $465,399 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Winchester Co-Operative Bank | 19 Church Street Winchester, MA 1890 | Full Service B&M | $608,438 |
| Winchester Co-Operative Bank | 198 Lexington Street Woburn, MA 1801 | Full Service B&M | $28,609 |
For 2020, Winchester Co-operative Bank had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $20,469 |
| Net interest income | $13,487 |
| Total noninterest income | $1,911 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $33 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,878 |
| Pre-tax net operating income | $3,741 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $2,761 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,761 |
| Minority interest net income | $0 |
| Net income | $2,761 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,761 |
Winchester Co-operative Bank's gross interest income from loans was $20,469,000.
Winchester Co-operative Bank's net interest income from loans was $13,487,000.
Winchester Co-operative Bank's fee based income from loans was $33,000.
Winchester Co-operative Bank's net income from loans was $2,761,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,982 |
| Provision for credit losses | $0 |
| Total noninterest expense | $11,657 |
| Salaries and employee benefits | $7,740 |
| Premises and equipment expense | $1,148 |
| Additional noninterest expense | $2,769 |
| Applicable income taxes | $980 |
| Net charge-offs | $3 |
| Cash dividends | $0 |
Winchester Co-operative Bank's interest expense for loans was $6,982,000.
Winchester Co-operative Bank's payroll and benefits expense were $7,740,000.
Winchester Co-operative Bank's property, plant and equipment expenses $1,148,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| 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 | $646,199 |
| Deposits held in domestic offices | $646,199 |
| Deposits by Individuals, partnerships, and corporations | $646,199 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $0 |
| 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 | $156,166 |
| Demand deposits | $34,516 |
| Nontransaction accounts | $490,033 |
| Money market deposit accounts (MMDAs) | $23,129 |
| Other savings deposits (excluding MMDAs) | $178,050 |
| Total time deposits | $288,853 |
| Total time and savings deposits | $611,683 |
| Noninterest-bearing deposits | $35,823 |
| Interest-bearing deposits | $610,376 |
| Retail deposits | $513,037 |
| IRAs and Keogh plan accounts | $30,324 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $752,219 |
| Cash & Balances due from depository institutions | $196,761 |
| Interest-bearing balances | $190,602 |
| Total securities | $74,123 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $472,659 |
| Loan and leases loss allowance | $1,389 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,750 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,926 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $752,219 |
| Total Liabilities | $659,711 |
| Total deposits | $646,199 |
| Interest-bearing deposits | $610,376 |
| Deposits held in domestic offices | $646,199 |
| % insured (estimated) | $78 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $12,500 |
| Subordinated debt | $0 |
| All other liabilities | $1,012 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $472,659 |
| Loan and leases loss allowance | $1,389 |
| Total loans and leases (domestic) | $474,048 |
| All real estate loans | $469,277 |
| Real estate loans in domestic offices | $469,277 |
| Construction and development loans | $17,380 |
| Residential 1-4 family construction | $16,602 |
| Other construction, all land development and other land | $778 |
| Loans secured by nonfarm nonresidential properties | $23,552 |
| Nonfarm nonresidential secured by owner-occupied properties | $15,909 |
| Commercial real estate & other non-farm, non-residential | $7,643 |
| Multifamily residential real estate | $21,041 |
| 1-4 family residential loans | $406,758 |
| Farmland loans | $546 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $3,324 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,447 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $723 |
| Other loans to individuals | $724 |
| 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 | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Winchester Co-operative Bank had $472,659,000 of loans outstanding in 2020. $469,277,000 of loans were in real estate loans. $17,380,000 of loans were in development loans. $21,041,000 of loans were in multifamily mortgage loans. $406,758,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $723,000 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 | 92 | $21,630 | $235,109 |
| Nonfarm, nonresidential loans - <$100k | 27 | $1,368 | $50,667 |
| Nonfarm, nonresidential loans - $100-250k | 35 | $5,309 | $151,686 |
| Nonfarm, nonresidential loans - $250k-1MM | 30 | $14,953 | $498,433 |
| Commercial & Industrial, US addressed loans - <$1MM | 84 | $3,324 | $39,571 |
| Commercial & Industrial, US addressed loans - <$100k | 79 | $1,695 | $21,456 |
| Commercial & Industrial, US addressed loans - $100-250k | 3 | $526 | $175,333 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 2 | $1,103 | $551,500 |