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, Worcester, and Portland among others. We have data for 7 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 an above average pick rate when compared to similar lenders.
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Originations
309Origination Dollar Volume (All Markets)
$172,225,000Employee 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) | 285 | $162,765,000 | $571,105 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 16 | $6,600,000 | $412,500 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 3 | $1,135,000 | $378,333 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 1 | $805,000 | $805,000 | $0 | 0.00% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 0.00% |
| Laconia, NH (FHA|USDA|VA) | 2 | $320,000 | $160,000 | $0 | 0.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 309 | $172,225,000 | $557,362 | $0 | 0.00% |
For 2021, Winchester Co-operative Bank's most frequently originated type of loan was Conventional, with 309 originations.
Loan Reason
For 2021, Winchester Co-operative Bank's most frequently cited loan purpose was Refi, with 148 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 | 309 | $172,225,000 | $557,362 | $0 | 0.00% |
For 2021, Winchester Co-operative Bank's most frequently cited loan duration was Other, with 309 originations.
Loan Sizing
2021 saw Winchester Co-operative Bank place emphasis on $200k-400k loans with 95 originations, totaling $28,315,000 in origination value.
Applicant Income
Winchester Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 71 originations. The second most popular income band? $250k+, with 70 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 309 | $172,225,000 | $557,362 | $0 | 0.00% |
Winchester Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 309 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.57%
Winchester Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination90.94%
Winchester Co-operative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 309 | $172,225,000 | $557,362 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Winchester Co-Operative Bank | 19 Church St Winchester, MA 1890 | Full Service B&M | $625,024 |
| Winchester Co-Operative Bank | 198 Lexington Street Woburn, MA 1801 | Full Service B&M | $36,049 |
For 2021, Winchester Co-operative Bank had 2 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $17,688 |
| Net interest income | $13,758 |
| Total noninterest income | $1,343 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $42 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,301 |
| Pre-tax net operating income | $4,466 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,243 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,243 |
| Minority interest net income | $0 |
| Net income | $3,243 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,243 |
Winchester Co-operative Bank's gross interest income from loans was $17,688,000.
Winchester Co-operative Bank's net interest income from loans was $13,758,000.
Winchester Co-operative Bank's fee based income from loans was $42,000.
Winchester Co-operative Bank's net income from loans was $3,243,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,930 |
| Provision for credit losses | $0 |
| Total noninterest expense | $10,635 |
| Salaries and employee benefits | $6,557 |
| Premises and equipment expense | $1,164 |
| Additional noninterest expense | $2,914 |
| Applicable income taxes | $1,223 |
| Net charge-offs | $42 |
| Cash dividends | $0 |
Winchester Co-operative Bank's interest expense for loans was $3,930,000.
Winchester Co-operative Bank's payroll and benefits expense were $6,557,000.
Winchester Co-operative Bank's property, plant and equipment expenses $1,164,000.
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 | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| 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 | $699,518 |
| Deposits held in domestic offices | $699,518 |
| Deposits by Individuals, partnerships, and corporations | $699,518 |
| 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 | $181,411 |
| Demand deposits | $40,536 |
| Nontransaction accounts | $518,107 |
| Money market deposit accounts (MMDAs) | $32,168 |
| Other savings deposits (excluding MMDAs) | $211,943 |
| Total time deposits | $273,996 |
| Total time and savings deposits | $658,982 |
| Noninterest-bearing deposits | $42,945 |
| Interest-bearing deposits | $656,573 |
| Retail deposits | $571,680 |
| IRAs and Keogh plan accounts | $29,103 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $798,947 |
| Cash & Balances due from depository institutions | $239,810 |
| Interest-bearing balances | $235,484 |
| Total securities | $80,245 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $471,323 |
| Loan and leases loss allowance | $1,348 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,424 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $3,145 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $798,947 |
| Total Liabilities | $703,196 |
| Total deposits | $699,518 |
| Interest-bearing deposits | $656,573 |
| Deposits held in domestic offices | $699,518 |
| % insured (estimated) | $76 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $2,500 |
| Subordinated debt | $0 |
| All other liabilities | $1,178 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $471,323 |
| Loan and leases loss allowance | $1,348 |
| Total loans and leases (domestic) | $472,671 |
| All real estate loans | $469,256 |
| Real estate loans in domestic offices | $469,256 |
| Construction and development loans | $14,212 |
| Residential 1-4 family construction | $13,031 |
| Other construction, all land development and other land | $1,181 |
| Loans secured by nonfarm nonresidential properties | $29,961 |
| Nonfarm nonresidential secured by owner-occupied properties | $22,609 |
| Commercial real estate & other non-farm, non-residential | $7,352 |
| Multifamily residential real estate | $16,272 |
| 1-4 family residential loans | $408,279 |
| Farmland loans | $532 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $464 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,952 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $716 |
| Other loans to individuals | $2,236 |
| 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 | $1,259 |
| Non 1-4 family restructured loans & leases | $597 |
| Total loans and leases (foreign) | $0 |
Winchester Co-operative Bank had $471,323,000 of loans outstanding in 2021. $469,256,000 of loans were in real estate loans. $14,212,000 of loans were in development loans. $16,272,000 of loans were in multifamily mortgage loans. $408,279,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $716,000 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 | 82 | $19,690 | $240,122 |
| Nonfarm, nonresidential loans - <$100k | 24 | $1,420 | $59,167 |
| Nonfarm, nonresidential loans - $100-250k | 28 | $4,761 | $170,036 |
| Nonfarm, nonresidential loans - $250k-1MM | 30 | $13,509 | $450,300 |
| Commercial & Industrial, US addressed loans - <$1MM | 22 | $464 | $21,091 |
| Commercial & Industrial, US addressed loans - <$100k | 22 | $464 | $21,091 |