Leader Bank National Association Mortgage Rates, Fees & Info

Arlington, MA

LEI: 549300FK3AFCFVAPH234

Tax ID: 04-3557920

2020 Data | 2019 Data | 2018 Data


Overview

Leader Bank National Association is a mid-sized bank specializing in Refi and Home Purchase loans. Leader Bank National Association has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Cambridge, Boston, Worcester, Providence, and Barnstable Town among others. They have an above average approval rate for mortages when compared nationally -- and they have a below average pick rate when compared to the same sample of other lendors. Leader Bank National Association is typically an average fee lendor.


Originations

13,608

Origination Dollar Volume (All Markets)

$5,796,540,000

Employee count

316

Relative Rate

Leader Bank National Association's average 30 year fixed rate mortgage was 3.06%.

The 2020 average 30 year fixed rate mortgage across all markets was 3.36%.

This yields a difference of -0.3%.

Relative Fees

Leader Bank National Association's average total fees for a 30 year fixed rate mortgage are $3,326.

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 $5,021.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 13,477 $5,735,685,000 $425,591 $3,164 3.03%
VA 76 $33,470,000 $440,395 $4,995 3.01%
FHA 55 $27,385,000 $497,909 $12,171 3.01%

For the 2020 period, Leader Bank National Association's most frequently originated loan type was Conventional, with 13,477 originations. Their 2nd most popular type is VA, with 76 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 7,337 $2,880,155,000 $392,552 $2,776 3.08%
Home Purchase 4,637 $2,231,025,000 $481,135 $4,027 2.88%
Cash Out Refi 1,503 $657,775,000 $437,641 $2,917 3.22%
Other 85 $18,135,000 $213,353 $2,569 3.42%
Home Improvement 46 $9,450,000 $205,435 $2,680 3.45%

For the 2020, Leader Bank National Association's most frequently cited loan purpose was Refi, with 7,337 originations. The 2nd most popular reason was Home Purchase, with 4,637 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 10,656 $4,704,050,000 $441,446 $3,325 3.05%
15 Year 1,423 $488,415,000 $343,229 $2,749 2.73%
20 Year 749 $273,565,000 $365,240 $2,771 3.06%
Other 711 $212,125,000 $298,347 $2,700 3.18%
10 Year 55 $108,885,000 $1,979,727 $2,549 2.82%
1 Year 12 $6,540,000 $545,000 $0 5.50%
30+ year 2 $2,960,000 $1,480,000 $19,315 5.25%

For the 2020, Leader Bank National Association's most frequently cited loan length was 30 Year, with 10,656 originations. The 2nd most popular length was 15 Year, with 1,423 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 11,946 $5,138,110,000 $430,111
$<1k 515 $148,985,000 $289,291
$2k-3k 106 $52,040,000 $490,943
$3k-4k 58 $30,140,000 $519,655
$5k+ 31 $23,815,000 $768,226

$3,326 was Leader Bank National Association's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 11,946 originations.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CAMBRIDGE-NEWTON-FRAMINGHAM, MA 6,222 $2,792,990,000 $448,889 $3,212 3.03%
BOSTON, MA 4,660 $2,069,560,000 $444,112 $3,208 3.06%
WORCESTER, MA-CT 685 $235,335,000 $343,555 $2,996 3.01%
PROVIDENCE-WARWICK, RI-MA 526 $176,710,000 $335,951 $3,113 3.02%
BARNSTABLE TOWN, MA 381 $145,605,000 $382,165 $3,199 2.94%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT 289 $87,005,000 $301,055 $3,356 2.93%
Outside of Metro Areas 238 $79,770,000 $335,168 $3,574 2.81%
ROCKINGHAM COUNTY-STRAFFORD COUNTY, NH 136 $45,810,000 $336,838 $2,908 2.99%
MANCHESTER-NASHUA, NH 94 $29,300,000 $311,702 $2,841 2.96%
PORTLAND-SOUTH PORTLAND, ME 83 $27,425,000 $330,422 $3,127 2.90%
SPRINGFIELD, MA 64 $18,450,000 $288,281 $3,115 2.98%
BRIDGEPORT-STAMFORD-NORWALK, CT 24 $10,480,000 $436,667 $4,239 2.96%
WEST PALM BEACH-BOCA RATON-BOYNTON BEACH, FL 8 $6,600,000 $825,000 $5,722 3.27%
NEW HAVEN-MILFORD, CT 18 $5,550,000 $308,333 $3,478 2.83%
TAMPA-ST. PETERSBURG-CLEARWATER, FL 13 $4,915,000 $378,077 $4,347 2.72%
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 12 $4,700,000 $391,667 $3,656 3.45%
PITTSFIELD, MA 15 $4,035,000 $269,000 $3,682 2.98%
NORWICH-NEW LONDON, CT 10 $3,820,000 $382,000 $3,397 2.99%
PHILADELPHIA, PA 7 $3,315,000 $473,571 $4,871 3.07%
MIAMI-MIAMI BEACH-KENDALL, FL 8 $3,310,000 $413,750 $4,882 3.30%
NAPLES-MARCO ISLAND, FL 10 $3,140,000 $314,000 $4,109 2.60%
ORLANDO-KISSIMMEE-SANFORD, FL 6 $3,000,000 $500,000 $9,151 3.04%
MONTGOMERY COUNTY-BUCKS COUNTY-CHESTER COUNTY, PA 7 $2,775,000 $396,429 $4,736 2.98%
BURLINGTON-SOUTH BURLINGTON, VT 7 $2,435,000 $347,857 $3,163 2.89%
FREDERICK-GAITHERSBURG-ROCKVILLE, MD 4 $2,350,000 $587,500 $3,907 3.06%
JACKSONVILLE, FL 5 $2,245,000 $449,000 $4,459 2.95%
NEWARK, NJ-PA 4 $1,990,000 $497,500 $4,274 2.97%
NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ 2 $1,940,000 $970,000 $5,418 3.06%
BALTIMORE-COLUMBIA-TOWSON, MD 5 $1,935,000 $387,000 $3,596 3.03%
NORTH PORT-SARASOTA-BRADENTON, FL 5 $1,805,000 $361,000 $4,395 2.98%
RALEIGH-CARY, NC 5 $1,645,000 $329,000 $3,192 3.43%
NEW BRUNSWICK-LAKEWOOD, NJ 5 $1,445,000 $289,000 $4,424 3.28%
CHARLESTON-NORTH CHARLESTON, SC 3 $1,175,000 $391,667 $3,662 3.08%
CAPE CORAL-FORT MYERS, FL 4 $1,060,000 $265,000 $3,542 2.97%
CLEVELAND-ELYRIA, OH 2 $980,000 $490,000 $4,662 2.50%
FORT LAUDERDALE-POMPANO BEACH-SUNRISE, FL 3 $965,000 $321,667 $4,414 3.04%
OAKLAND-BERKELEY-LIVERMORE, CA 1 $965,000 $965,000 $6,675 2.88%
WILMINGTON, NC 2 $910,000 $455,000 $5,388 3.50%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA 2 $600,000 $300,000 $2,107 3.94%
CHARLOTTE-CONCORD-GASTONIA, NC-SC 3 $565,000 $188,333 $3,060 3.29%
BOULDER, CO 1 $495,000 $495,000 $2,648 3.38%
LOS ANGELES-LONG BEACH-GLENDALE, CA 1 $485,000 $485,000 $5,721 3.75%
JOHNSON CITY, TN 1 $455,000 $455,000 $2,967 3.13%
THE VILLAGES, FL 2 $420,000 $210,000 $3,784 3.25%
COLUMBIA, SC 2 $410,000 $205,000 $0 3.38%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL 1 $385,000 $385,000 $5,161 2.50%
SANTA MARIA-SANTA BARBARA, CA 1 $375,000 $375,000 $4,389 3.38%
BLACKSBURG-CHRISTIANSBURG, VA 1 $365,000 $365,000 $2,878 3.50%
RENO, NV 1 $355,000 $355,000 $3,672 3.75%
NASSAU COUNTY-SUFFOLK COUNTY, NY 1 $345,000 $345,000 $3,415 3.13%
SYRACUSE, NY 1 $315,000 $315,000 $4,255 2.38%
DENVER-AURORA-LAKEWOOD, CO 1 $305,000 $305,000 $3,698 3.38%
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN 1 $295,000 $295,000 $4,424 3.38%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA 1 $265,000 $265,000 $0 3.63%
FORT COLLINS, CO 1 $255,000 $255,000 $3,822 3.38%
CHARLOTTESVILLE, VA 1 $235,000 $235,000 $0 3.63%
PALM BAY-MELBOURNE-TITUSVILLE, FL 1 $225,000 $225,000 $0 3.25%
SEBASTIAN-VERO BEACH, FL 1 $225,000 $225,000 $3,988 3.38%
PHOENIX-MESA-CHANDLER, AZ 1 $215,000 $215,000 $3,807 3.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC 1 $215,000 $215,000 $2,925 3.38%
PORTLAND-VANCOUVER-HILLSBORO, OR-WA 1 $205,000 $205,000 $0 4.50%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ 1 $205,000 $205,000 $3,186 2.88%
GREENSBORO-HIGH POINT, NC 1 $185,000 $185,000 $4,323 3.25%
HILTON HEAD ISLAND-BLUFFTON, SC 1 $175,000 $175,000 $4,058 3.38%
GREENVILLE-ANDERSON, SC 1 $145,000 $145,000 $2,090 2.75%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC 1 $135,000 $135,000 $3,018 3.63%
TALLAHASSEE, FL 1 $135,000 $135,000 $0 3.88%
ROME, GA 1 $105,000 $105,000 $2,795 3.50%

Leader Bank National Association's top markets include Cambridge, Boston, Worcester, Providence, and Barnstable Town among others.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 6,058 $2,542,710,000 $419,728
3-4% 5,381 $2,340,185,000 $434,898
<2.5% 1,856 $809,430,000 $436,115
4-5% 277 $94,535,000 $341,282
6-7% 21 $3,725,000 $177,381
5-6% 15 $5,955,000 $397,000

During 2020, Leader Bank National Association's average interest rate was 3.06%, while their most frequently originated rate bucket was 2.5-3%, with 6,058 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 5,777 $1,820,815,000 $315,183 $2,862 3.00%
$400k-600k 5,228 $2,505,650,000 $479,275 $3,315 3.01%
$600k-1MM 1,277 $907,795,000 $710,881 $4,468 3.07%
$100k-200k 826 $131,070,000 $158,680 $2,539 3.04%
$100,000 or less 256 $14,920,000 $58,281 $594 3.66%
$1MM+ 244 $416,290,000 $1,706,107 $5,971 3.19%

2020 saw Leader Bank National Association place emphasis on $200k-400k loans with 5,777 originations, totaling $1,820,815,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 4,744 $2,066,650,000 $435,634 $3,217 3.05%
$100k-150k 3,906 $1,512,890,000 $387,325 $3,105 3.01%
$250k+ 2,391 $1,287,415,000 $538,442 $3,627 3.06%
$75k-100k 1,597 $537,375,000 $336,490 $3,057 2.97%
$50k-75k 769 $206,975,000 $269,148 $2,980 2.92%
$50k or less 110 $21,280,000 $193,455 $2,756 2.95%

Leader Bank National Association lent most frequently to those with incomes in the $150k-250k range, with 4,744 originations. The second most popular income band? $100k-150k, with 3,906 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 4,643 $1,942,475,000 $418,366 $3,122 3.01%
30-36% 2,759 $1,188,785,000 $430,875 $3,262 3.02%
<20% 2,035 $785,205,000 $385,850 $2,990 2.96%
37% 450 $192,520,000 $427,822 $3,295 3.06%
36% 448 $196,070,000 $437,656 $3,349 3.06%
38% 421 $184,565,000 $438,397 $3,395 3.06%
40% 420 $183,930,000 $437,929 $3,525 3.08%
39% 393 $167,435,000 $426,043 $3,276 3.06%
42% 361 $149,235,000 $413,393 $3,390 3.02%
41% 360 $149,190,000 $414,417 $3,403 3.08%
44% 268 $107,680,000 $401,791 $3,485 3.00%
43% 261 $103,045,000 $394,808 $3,436 3.06%
45% 189 $76,025,000 $402,249 $3,231 3.05%
46% 154 $63,210,000 $410,455 $3,485 3.16%
47% 130 $50,340,000 $387,231 $3,808 3.16%
48% 103 $38,475,000 $373,544 $3,534 3.04%
49% 94 $38,280,000 $407,234 $3,617 3.08%
50-60% 6 $2,590,000 $431,667 $3,846 3.31%
>60% 3 $2,125,000 $708,333 $3,891 3.29%

Leader Bank National Association lent most frequently to those with DTI ratios of 20-30%, with 4,643 originations. The next most common DTI ratio? 30-36%, with 2,759 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 10,313 $4,244,835,000 $411,600 $3,178 3.04%
Asian 1,872 $811,750,000 $433,627 $3,293 2.96%
Not provided 1,176 $515,000,000 $437,925 $3,333 2.99%
Not applicable 90 $160,950,000 $1,788,333 $0 4.03%
Black 145 $59,395,000 $409,621 $3,753 3.03%
American Indian 9 $3,785,000 $420,556 $5,091 3.14%
Native Hawaiian 3 $825,000 $275,000 $4,347 3.13%

Approval Rates

Total approvals of all applications
97.80%

Leader Bank National Association has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

Pick Rate

Approvals leading to origination
88.04%

Leader Bank National Association has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 13,608 $5,796,540,000 $425,966

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
Multifamily:Site-Built 38 $134,190,000 $3,531,316
Single Family (1-4 Units):Site-Built 13,570 $5,662,350,000 $417,270

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 1,019 $317,225,000 $311,310 $2,741 2.95%
40-60% 3,341 $1,325,215,000 $396,652 $2,851 2.96%
60-80% 5,954 $2,748,490,000 $461,621 $3,206 3.08%
80-100% 2,901 $1,357,045,000 $467,785 $3,879 2.96%
Over 100% 7 $2,935,000 $419,286 $15,489 3.18%
Under 20% 386 $45,630,000 $118,212 $1,058 3.57%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Leader Bank, National Association 675 Massachusetts Avenue Cambridge, MA 2139 Full Service B&M $214,940
Leader Bank, National Association 1201 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $123,646
Leader Bank, National Association 141 Massachusetts Avenue Arlington, MA 2476 Full Service B&M $553,845
Leader Bank, National Association 363 Pleasant St Belmont, MA 2478 Full Service B&M $200,398
Leader Bank, National Association 449 Massachusetts Avenue Arlington, MA 2474 Full Service B&M $72,012
Leader Bank, National Association 48 Northern Avenue Boston, MA 2210 Full Service Retail $305,713
Leader Bank, National Association 50 Mall Rd Burlington, MA 1803 Full Service B&M $141,728

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $69,095
Net interest income $52,006
Total noninterest income $105,261
Gross Fiduciary activities income $0
Service charges on deposit accounts $285
Trading account gains and fees $0
Additional Noninterest Income $104,976
Pre-tax net operating income $95,996
Securities gains (or losses, -) $3,181
Income before extraordinary items $72,056
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $72,056
Minority interest net income $0
Net income $72,056
Sale, conversion, retirement of capital stock, net $71,600
Net operating income $69,543

Bank Expenses

Item Value (in 000's)
Total interest expense $17,089
Provision for credit losses $9,545
Total noninterest expense $51,726
Salaries and employee benefits $35,263
Premises and equipment expense $4,128
Additional noninterest expense $12,335
Applicable income taxes $27,121
Net charge-offs $3,682
Cash dividends $19,100

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 $1,739,887
Deposits held in domestic offices $1,739,887
Deposits by Individuals, partnerships, and corporations $1,431,059
Deposits by U.S. Government $130
Deposits by States and political subdivisions in the U.S. $285,241
Deposits by Commercial banks and other depository institutions in U.S. $23,457
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $525,322
Demand deposits $337,180
Nontransaction accounts $1,214,565
Money market deposit accounts (MMDAs) $716,794
Other savings deposits (excluding MMDAs) $238,654
Total time deposits $259,117
Total time and savings deposits $1,402,707
Noninterest-bearing deposits $525,322
Interest-bearing deposits $1,214,565
Retail deposits $1,585,945
IRAs and Keogh plan accounts $12,515
Brokered deposits $61,206
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,177,734
Cash & Balances due from depository institutions $247,927
Interest-bearing balances $232,448
Total securities $126,537
Federal funds sold & reverse repurchase $0
Net loans and leases $1,724,229
Loan and leases loss allowance $17,479
Trading account assets $0
Bank premises and fixed assets $15,176
Other real estate owned $0
Goodwill and other intangibles $19,132
All other assets $44,733

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,177,734
Total Liabilities $1,872,155
Total deposits $1,739,887
Interest-bearing deposits $1,214,565
Deposits held in domestic offices $1,739,887
% insured (estimated) $45
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $96,464
Subordinated debt $0
All other liabilities $35,804

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,724,229
Loan and leases loss allowance $17,479
Total loans and leases (domestic) $1,741,708
All real estate loans $1,626,303
Real estate loans in domestic offices $1,626,303
Construction and development loans $42,570
Residential 1-4 family construction $20,476
Other construction, all land development and other land $22,094
Loans secured by nonfarm nonresidential properties $430,542
Nonfarm nonresidential secured by owner-occupied properties $95,030
Commercial real estate & other non-farm, non-residential $335,512
Multifamily residential real estate $195,121
1-4 family residential loans $958,070
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $115,111
To non-U.S. addressees $0
Loans to individuals $239
Credit card loans $0
Related Plans $2
Consumer Auto Loans $55
Other loans to individuals $182
All other loans & leases $55
Loans to foreign governments and official institutions $0
Other loans $55
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 $684
Non 1-4 family restructured loans & leases $415
Total loans and leases (foreign) $0

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 238 $84,311 $354,248
Nonfarm, nonresidential loans - <$100k 15 $889 $59,267
Nonfarm, nonresidential loans - $100-250k 51 $7,189 $140,961
Nonfarm, nonresidential loans - $250k-1MM 172 $76,233 $443,215
Commercial & Industrial, US addressed loans - <$1MM 1,562 $91,254 $58,421
Commercial & Industrial, US addressed loans - <$100k 1,219 $27,998 $22,968
Commercial & Industrial, US addressed loans - $100-250k 209 $21,729 $103,967
Commercial & Industrial, US addressed loans - $250k-1MM 134 $41,527 $309,903