Bristol County Savings Bank Mortgage Rates, Fees & Info

Taunton, MA

LEI: 549300ENXD6MBH06E085

Tax ID: 04-3317338

5 stars - out of 5 stars, based on 30 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Bristol County Savings Bank is a smaller bank specializing in Cash Out Refi, Home Purchase, and Refi loans. Bristol County Savings Bank has a high proportion of conventional loans. Their top markets include Providence, Boston, Barnstable Town, Worcester, and Vineyard Haven among others. Bristol County Savings Bank 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. Bristol County Savings Bank is typically a low fee lendor.


Originations

896

Origination Dollar Volume (All Markets)

$385,310,000

Employee count

332

Awards

Bristol County Savings Bank 30 Year Conventional Loans silver Bristol County Savings Bank 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Bristol County Savings Bank's average 30 year fixed rate mortgage of loans were 2.99%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.16%.

Relative Fees

Bristol County Savings Bank's average total fees for a 30 year fixed rate mortgage are $3,119.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 667 $227,465,000 $341,027 $2,672 2.77%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 171 $133,105,000 $778,392 $3,065 2.77%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 25 $10,335,000 $413,400 $2,674 2.57%
WORCESTER, MA-CT (FHA|USDA|VA) 27 $9,845,000 $364,630 $3,217 2.85%
Vineyard Haven, MA (FHA|USDA|VA) 2 $2,290,000 $1,145,000 $5,190 2.88%
Outside of Metro Areas 1 $1,355,000 $1,355,000 $7,083 3.25%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $355,000 $355,000 $2,638 3.00%
Laconia, NH (FHA|USDA|VA) 1 $285,000 $285,000 $2,945 2.50%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $275,000 $275,000 $1,986 2.75%

Bristol County Savings Bank's top markets include Providence, Boston, Barnstable Town, Worcester, and Vineyard Haven among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 896 $385,310,000 $430,033 $2,775 2.76%

For the 2021 period, Bristol County Savings Bank's most frequently originated loan type of loans were Conventional, with 896 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 316 $96,680,000 $305,949 $2,515 2.62%
Home Purchase 273 $190,935,000 $699,396 $3,695 3.09%
Refi 257 $84,815,000 $330,019 $2,344 2.53%
Other 29 $6,095,000 $210,172 $2,251 2.80%
Home Improvement 21 $6,785,000 $323,095 $1,053 3.56%

For the 2021, Bristol County Savings Bank's most frequently cited loan purpose of loans were Cash Out Refi, with 316 originations. The 2nd most popular reason of loans were Home Purchase, with 273 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 407 $154,415,000 $379,398 $2,418 2.54%
30 Year 172 $64,090,000 $372,616 $3,119 2.99%
20 Year 103 $46,475,000 $451,214 $2,928 3.01%
15 Year 100 $24,420,000 $244,200 $2,556 2.57%
30+ year 88 $50,840,000 $577,727 $4,108 3.11%
10 Year 15 $2,595,000 $173,000 $1,643 2.83%
1 Year 6 $6,030,000 $1,005,000 $0 4.83%
5 Year 5 $36,445,000 $7,289,000 $838 3.48%

For the 2021, Bristol County Savings Bank's most frequently cited loan length of loans were Other, with 407 originations. The 2nd most popular length of loans were 30 Year, with 172 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 814 $276,940,000 $340,221
$3k-4k 15 $4,875,000 $325,000
$1k-2k 14 $5,050,000 $360,714
$2k-3k 12 $2,640,000 $220,000
$5k+ 11 $7,525,000 $684,091

$3,119 of loans were Bristol County Savings Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 814 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 403 $151,305,000 $375,447
<2.5% 271 $61,845,000 $228,210
3-4% 184 $128,010,000 $695,707
4-5% 35 $42,255,000 $1,207,286
5-6% 3 $1,895,000 $631,667

During 2021, Bristol County Savings Bank's average interest rate of loans were 2.99%, while their most frequently originated rate bucket of loans were 2.5-3%, with 403 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 399 $113,815,000 $285,251 $2,747 2.70%
$100k-200k 165 $25,775,000 $156,212 $1,778 2.60%
$400k-600k 162 $78,730,000 $485,988 $3,462 2.84%
$600k-1MM 88 $63,300,000 $719,318 $4,335 3.02%
$100,000 or less 60 $3,960,000 $66,000 $437 2.76%
$1MM+ 22 $99,730,000 $4,533,182 $7,210 3.55%

2021 saw Bristol County Savings Bank place emphasis on $200k-400k loans with 399 originations, totaling $113,815,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 211 $68,315,000 $323,768 $2,659 2.74%
$150k-250k 207 $85,875,000 $414,855 $3,042 2.79%
$50k-75k 134 $27,910,000 $208,284 $2,304 2.69%
$75k-100k 132 $34,530,000 $261,591 $2,563 2.68%
$250k+ 113 $67,695,000 $599,071 $3,964 2.70%
$50k or less 53 $8,435,000 $159,151 $1,840 2.87%

Bristol County Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 211 originations. The second most popular income band? $150k-250k, with 207 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 212 $71,310,000 $336,368 $2,735 2.67%
<20% 148 $40,730,000 $275,203 $1,940 2.47%
30-36% 145 $49,655,000 $342,448 $2,751 2.79%
39% 39 $13,725,000 $351,923 $2,934 2.72%
36% 37 $12,065,000 $326,081 $2,995 2.85%
40% 32 $10,080,000 $315,000 $2,397 2.61%
42% 31 $16,145,000 $520,806 $3,533 2.88%
38% 31 $11,375,000 $366,935 $3,140 2.79%
37% 30 $11,600,000 $386,667 $3,011 2.90%
44% 28 $11,080,000 $395,714 $3,493 2.80%
41% 27 $10,265,000 $380,185 $3,293 2.81%
43% 22 $8,430,000 $383,182 $4,039 2.86%
46% 20 $7,670,000 $383,500 $3,700 2.73%
45% 16 $5,170,000 $323,125 $2,933 2.65%
47% 15 $5,675,000 $378,333 $3,295 2.90%
48% 13 $4,915,000 $378,077 $3,131 2.94%
49% 11 $4,185,000 $380,455 $3,096 2.74%
50-60% 5 $2,035,000 $407,000 $2,341 2.57%
>60% 2 $890,000 $445,000 $2,885 2.88%

Bristol County Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 212 originations. The next most common DTI ratio? <20%, with 148 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 680 $227,880,000 $335,118 $2,650 2.71%
Not applicable 19 $85,855,000 $4,518,684 $0 4.42%
Not provided 118 $40,700,000 $344,915 $3,220 2.76%
Asian 52 $23,090,000 $444,038 $3,533 2.81%
Black 22 $6,630,000 $301,364 $2,594 2.99%
American Indian 4 $730,000 $182,500 $1,481 2.50%
Native Hawaiian 1 $425,000 $425,000 $3,590 3.13%

Approval Rates

Total approvals of all applications
93.95%

Bristol County Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
84.57%

Bristol County Savings Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 896 $385,310,000 $430,033

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
896 $385,310,000 $430,033

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 121 $24,495,000 $202,438 $1,564 2.42%
40-60% 237 $106,305,000 $448,544 $2,552 2.64%
60-80% 303 $162,185,000 $535,264 $3,313 2.84%
80-100% 192 $85,790,000 $446,823 $3,509 2.98%
Over 100% 1 $3,805,000 $3,805,000 $0 4.25%
Under 20% 42 $2,730,000 $65,000 $228 2.87%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
Brightfunders, LLC VA mortgage Closing on a mortgage 2 5.4%
Brightfunders, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 10 27.0%
Brightfunders, LLC Conventional home mortgage Closing on a mortgage 3 8.1%
Brightfunders, LLC Conventional home mortgage Trouble during payment process 9 24.3%
Brightfunders, LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 3 8.1%
Brightfunders, LLC FHA mortgage Trouble during payment process 1 2.7%
Brightfunders, LLC Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 5.4%
Brightfunders, LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 3 8.1%
Brightfunders, LLC Other type of mortgage Closing on a mortgage 2 5.4%
Brightfunders, LLC Other type of mortgage Trouble during payment process 2 5.4%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Bristol County Savings Bank 584 Putnam Pike Greenville, RI 2828 Full Service B&M $59,295
Bristol County Savings Bank 100 Rathbun Willard Drive Attleboro, MA 2703 Full Service B&M $469
Bristol County Savings Bank 108 North Main Street Raynham, MA 2767 Full Service B&M $184,632
Bristol County Savings Bank 130 Pleasant Street Attleboro, MA 2703 Full Service B&M $276,919
Bristol County Savings Bank 1307 Ashley Blvd New Bedford, MA 2745 Full Service B&M $87,961
Bristol County Savings Bank 215 Armistice Boulevard Pawtucket, RI 2861 Full Service B&M $153,460
Bristol County Savings Bank 215 Pleasant Street Fall River, MA 2721 Full Service B&M $102,685
Bristol County Savings Bank 2152 Mendon Road Cumberland, RI 2864 Full Service B&M $47,033
Bristol County Savings Bank 257 Winthrop Street Rehoboth, MA 2769 Full Service B&M $168,238
Bristol County Savings Bank 35 Broadway Taunton, MA 2780 Full Service B&M $499,375
Bristol County Savings Bank 36 Paramount Drive Raynham, MA 2767 Full Service Retail $17,954
Bristol County Savings Bank 365 West Central Street Franklin, MA 2038 Full Service B&M $59,684
Bristol County Savings Bank 37 Rockdale Avenue New Bedford, MA 2740 Full Service B&M $35,871
Bristol County Savings Bank 50 Williams Street Taunton, MA 2780 Full Service B&M $3,449
Bristol County Savings Bank 502 State Road Dartmouth, MA 2747 Full Service B&M $124,936
Bristol County Savings Bank 70 North Water Street New Bedford, MA 2740 Full Service B&M $74,937
Bristol County Savings Bank 851 County Street Taunton, MA 2780 Full Service B&M $112,414
Bristol County Savings Bank 942 Broadway (Route 138) Raynham, MA 2767 Full Service B&M $165,586
Bristol County Savings Bank 96 Commonwealth Avenue North Attleboro, MA 2760 Full Service B&M $249,755
Bristol County Savings Bank One Chace Road East Freetown, MA 2717 Full Service B&M $49,832

For 2021, Bristol County Savings Bank had 20 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $89,749
Net interest income $84,836
Total noninterest income $10,870
Gross Fiduciary activities income $11
Service charges on deposit accounts $1,633
Trading account gains and fees $0
Additional Noninterest Income $9,226
Pre-tax net operating income $30,530
Securities gains (or losses, -) $48,465
Income before extraordinary items $59,279
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $59,279
Minority interest net income $853
Net income $58,426
Sale, conversion, retirement of capital stock, net $0
Net operating income $20,991

Bristol County Savings Bank's gross interest income from loans was $89,749,000.
Bristol County Savings Bank's net interest income from loans was $84,836,000.
Bristol County Savings Bank's fee based income from loans was $1,633,000.
Bristol County Savings Bank's net income from loans was $58,426,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $4,913
Provision for credit losses $1,557
Total noninterest expense $63,619
Salaries and employee benefits $42,400
Premises and equipment expense $5,273
Additional noninterest expense $15,946
Applicable income taxes $19,716
Net charge-offs $104
Cash dividends $729

Bristol County Savings Bank's interest expense for loans was $4,913,000.
Bristol County Savings Bank's payroll and benefits expense were $42,400,000.
Bristol County Savings Bank's property, plant and equipment expenses $5,273,000.

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 $2,526,255
Deposits held in domestic offices $2,526,255
Deposits by Individuals, partnerships, and corporations $2,058,564
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $465,400
Deposits by Commercial banks and other depository institutions in U.S. $2,291
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $376,356
Demand deposits $161,825
Nontransaction accounts $2,149,899
Money market deposit accounts (MMDAs) $943,180
Other savings deposits (excluding MMDAs) $859,340
Total time deposits $347,380
Total time and savings deposits $2,364,430
Noninterest-bearing deposits $498,088
Interest-bearing deposits $2,028,167
Retail deposits $2,382,517
IRAs and Keogh plan accounts $64,200
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,993,290
Cash & Balances due from depository institutions $194,785
Interest-bearing balances $169,390
Total securities $684,149
Federal funds sold & reverse repurchase $0
Net loans and leases $2,046,251
Loan and leases loss allowance $20,360
Trading account assets $0
Bank premises and fixed assets $19,737
Other real estate owned $0
Goodwill and other intangibles $16,047
All other assets $32,321

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,993,290
Total Liabilities $2,603,759
Total deposits $2,526,255
Interest-bearing deposits $2,028,167
Deposits held in domestic offices $2,526,255
% insured (estimated) $67
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $9,378
Subordinated debt $0
All other liabilities $68,126

Issued Loan Types

Type Value (in 000's)
Net loans and leases $2,046,251
Loan and leases loss allowance $20,360
Total loans and leases (domestic) $2,066,611
All real estate loans $1,597,244
Real estate loans in domestic offices $1,597,244
Construction and development loans $118,556
Residential 1-4 family construction $29,516
Other construction, all land development and other land $89,040
Loans secured by nonfarm nonresidential properties $623,804
Nonfarm nonresidential secured by owner-occupied properties $295,723
Commercial real estate & other non-farm, non-residential $328,081
Multifamily residential real estate $88,772
1-4 family residential loans $766,112
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $159,708
To non-U.S. addressees $0
Loans to individuals $308,302
Credit card loans $0
Related Plans $57
Consumer Auto Loans $302,161
Other loans to individuals $6,084
All other loans & leases $1,357
Loans to foreign governments and official institutions $0
Other loans $1,357
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 $6,989
Non 1-4 family restructured loans & leases $4,418
Total loans and leases (foreign) $0

Bristol County Savings Bank had $2,046,251,000 of loans outstanding in 2021. $1,597,244,000 of loans were in real estate loans. $118,556,000 of loans were in development loans. $88,772,000 of loans were in multifamily mortgage loans. $766,112,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $302,161,000 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 628 $148,610 $236,640
Nonfarm, nonresidential loans - <$100k 53 $2,284 $43,094
Nonfarm, nonresidential loans - $100-250k 192 $22,856 $119,042
Nonfarm, nonresidential loans - $250k-1MM 383 $123,470 $322,376
Commercial & Industrial, US addressed loans - <$1MM 668 $73,866 $110,578
Commercial & Industrial, US addressed loans - <$100k 346 $10,069 $29,101
Commercial & Industrial, US addressed loans - $100-250k 171 $17,809 $104,146
Commercial & Industrial, US addressed loans - $250k-1MM 151 $45,988 $304,556