Abington Bank Mortgage Rates, Fees & Info
Abington, MALEI: 549300FR7PGHS5RN4G56
Tax ID: 04-1728400
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Mortgage Data
Bank Data
Review & Overview
Abington Bank is a smaller bank specializing in Home Purchase and Refi loans. Abington Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Providence, and Manchester among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Abington 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
67Origination Dollar Volume (All Markets)
$46,855,000Employee count
33Top 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) | 57 | $44,425,000 | $779,386 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 3 | $1,085,000 | $361,667 | $0 | 0.00% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 6 | $1,040,000 | $173,333 | $0 | 0.00% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 67 | $46,855,000 | $699,328 | $0 | 0.00% |
For 2018, Abington Bank's most frequently originated type of loan was Conventional, with 67 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 39 | $22,875,000 | $586,538 | $0 | 0.00% |
| Refi | 25 | $22,715,000 | $908,600 | $0 | 0.00% |
| Home Improvement | 3 | $1,265,000 | $421,667 | $0 | 0.00% |
For 2018, Abington Bank's most frequently cited loan purpose was Home Purchase, with 39 originations. The 2nd most popular reason was Refi, with 25 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 67 | $46,855,000 | $699,328 | $0 | 0.00% |
For 2018, Abington Bank's most frequently cited loan duration was Other, with 67 originations.
Loan Sizing
2018 saw Abington Bank place emphasis on $200k-400k loans with 19 originations, totaling $5,585,000 in origination value.
Applicant Income
Abington Bank lent most frequently to those with incomes in the $100k-150k range, with 7 originations. The second most popular income band? $150k-250k, with 5 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 67 | $46,855,000 | $699,328 | $0 | 0.00% |
Abington Bank lent most frequently to those with DTI ratios of Exempt%, with 67 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.24%
Abington Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination82.09%
Abington Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 67 | $46,855,000 | $699,328 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 7 | $12,215,000 | $1,745,000 |
| Single Family (1-4 Units):Site-Built | 60 | $34,640,000 | $577,333 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Pilgrim Bank | 350 Front Street Marion, MA 2738 | Full Service B&M | $35,476 |
| Pilgrim Bank | 40 South Main Street Cohasset, MA 2025 | Full Service B&M | $125,780 |
| Pilgrim Bank | 800 Chief Justice Cushing Way Cohasset, MA 2025 | Full Service B&M | $40,548 |
For 2018, Abington Bank had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $10,734 |
| Net interest income | $8,140 |
| Total noninterest income | $365 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $129 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $236 |
| Pre-tax net operating income | $2,768 |
| Securities gains (or losses, -) | $-3 |
| Income before extraordinary items | $1,973 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,973 |
| Minority interest net income | $0 |
| Net income | $1,973 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,975 |
Abington Bank's gross interest income from loans was $10,734,000.
Abington Bank's net interest income from loans was $8,140,000.
Abington Bank's fee based income from loans was $129,000.
Abington Bank's net income from loans was $1,973,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,594 |
| Provision for credit losses | $90 |
| Total noninterest expense | $5,647 |
| Salaries and employee benefits | $3,517 |
| Premises and equipment expense | $429 |
| Additional noninterest expense | $1,701 |
| Applicable income taxes | $792 |
| Net charge-offs | $0 |
| Cash dividends | $0 |
Abington Bank's interest expense for loans was $2,594,000.
Abington Bank's payroll and benefits expense were $3,517,000.
Abington Bank's property, plant and equipment expenses $429,000.
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 | $196,064 |
| Deposits held in domestic offices | $196,064 |
| Deposits by Individuals, partnerships, and corporations | $183,908 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $3,480 |
| Deposits by Commercial banks and other depository institutions in U.S. | $8,676 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $50,644 |
| Demand deposits | $28,586 |
| Nontransaction accounts | $145,420 |
| Money market deposit accounts (MMDAs) | $28,642 |
| Other savings deposits (excluding MMDAs) | $19,155 |
| Total time deposits | $97,622 |
| Total time and savings deposits | $167,478 |
| Noninterest-bearing deposits | $28,586 |
| Interest-bearing deposits | $167,478 |
| Retail deposits | $162,814 |
| IRAs and Keogh plan accounts | $12,147 |
| Brokered deposits | $6,030 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $266,554 |
| Cash & Balances due from depository institutions | $17,022 |
| Interest-bearing balances | $14,432 |
| Total securities | $15,875 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $220,175 |
| Loan and leases loss allowance | $1,319 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,111 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $7,371 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $266,554 |
| Total Liabilities | $239,475 |
| Total deposits | $196,064 |
| Interest-bearing deposits | $167,478 |
| Deposits held in domestic offices | $196,064 |
| % insured (estimated) | $84 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $42,129 |
| Subordinated debt | $0 |
| All other liabilities | $1,282 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $220,175 |
| Loan and leases loss allowance | $1,319 |
| Total loans and leases (domestic) | $221,494 |
| All real estate loans | $218,605 |
| Real estate loans in domestic offices | $218,605 |
| Construction and development loans | $26,219 |
| Residential 1-4 family construction | $19,568 |
| Other construction, all land development and other land | $6,651 |
| Loans secured by nonfarm nonresidential properties | $23,652 |
| Nonfarm nonresidential secured by owner-occupied properties | $11,221 |
| Commercial real estate & other non-farm, non-residential | $12,431 |
| Multifamily residential real estate | $27,185 |
| 1-4 family residential loans | $141,549 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $628 |
| Commercial and industrial loans | $1,135 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $487 |
| Credit card loans | $0 |
| Related Plans | $22 |
| Consumer Auto Loans | $322 |
| Other loans to individuals | $143 |
| All other loans & leases | $639 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $639 |
| 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 | $2,836 |
| Non 1-4 family restructured loans & leases | $596 |
| Total loans and leases (foreign) | $0 |
ABINGTON BANK had $220,175,000 of loans outstanding in 2018. $218,605,000 of loans were in real estate loans. $26,219,000 of loans were in development loans. $27,185,000 of loans were in multifamily mortgage loans. $141,549,000 of loans were in 1-4 family mortgage loans. $628,000 of loans were in farm loans. $0 of loans were in credit card loans. $322,000 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 | 32 | $8,854 | $276,688 |
| Nonfarm, nonresidential loans - <$100k | 4 | $191 | $47,750 |
| Nonfarm, nonresidential loans - $100-250k | 8 | $820 | $102,500 |
| Nonfarm, nonresidential loans - $250k-1MM | 20 | $7,843 | $392,150 |
| Commercial & Industrial, US addressed loans - <$1MM | 21 | $1,135 | $54,048 |
| Commercial & Industrial, US addressed loans - <$100k | 15 | $162 | $10,800 |
| Commercial & Industrial, US addressed loans - $100-250k | 3 | $194 | $64,667 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 3 | $779 | $259,667 |
| Agriculture operations loans - <$1MM | 2 | $628 | $314,000 |
| Agriculture operations loans - $100-250k | 1 | $193 | $193,000 |
| Agriculture operations loans - $250k-1MM | 1 | $435 | $435,000 |