Abington Bank Mortgage Rates, Fees & Info

Abington, MA

LEI: 549300FR7PGHS5RN4G56

Tax ID: 04-1728400

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • 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, Providence, Barnstable Town, and Vineyard Haven 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 average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    129

    Origination Dollar Volume (All Markets)

    $64,325,000

    Employee count

    73

    Top 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) 115 $60,935,000 $529,870 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 9 $2,025,000 $225,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 4 $990,000 $247,500 $0 0.00%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
    Abington Bank's top markets include Boston, Providence, Barnstable Town, and Vineyard Haven among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 129 $64,325,000 $498,643 $0 0.00%

    For 2019, Abington Bank's most frequently originated type of loan was Conventional, with 129 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 53 $31,285,000 $590,283 $0 0.00%
    Refi 31 $23,075,000 $744,355 $0 0.00%
    Cash Out Refi 23 $7,445,000 $323,696 $0 0.00%
    Home Improvement 11 $875,000 $79,545 $0 0.00%
    Other 11 $1,645,000 $149,545 $0 0.00%

    For 2019, Abington Bank's most frequently cited loan purpose was Home Purchase, with 53 originations. The 2nd most popular reason was Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 129 $64,325,000 $498,643 $0 0.00%

    For 2019, Abington Bank's most frequently cited loan duration was Other, with 129 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 47 $13,665,000 $290,745 $0 0.00%
    $100k-200k 25 $3,375,000 $135,000 $0 0.00%
    $400k-600k 18 $8,190,000 $455,000 $0 0.00%
    $1MM+ 15 $29,365,000 $1,957,667 $0 0.00%
    $100,000 or less 12 $490,000 $40,833 $0 0.00%
    $600k-1MM 12 $9,240,000 $770,000 $0 0.00%

    2019 saw Abington Bank place emphasis on $200k-400k loans with 47 originations, totaling $13,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 25 $7,465,000 $298,600 $0 0.00%
    $100k-150k 23 $5,485,000 $238,478 $0 0.00%
    $50k-75k 14 $2,400,000 $171,429 $0 0.00%
    $250k+ 12 $6,240,000 $520,000 $0 0.00%
    $75k-100k 6 $1,190,000 $198,333 $0 0.00%
    $50k or less 5 $475,000 $95,000 $0 0.00%

    Abington Bank lent most frequently to those with incomes in the $150k-250k range, with 25 originations. The second most popular income band? $100k-150k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 129 $64,325,000 $498,643 $0 0.00%

    Abington Bank lent most frequently to those with DTI ratios of Exempt%, with 129 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 37 $39,095,000 $1,056,622 $0 0.00%
    White 86 $22,640,000 $263,256 $0 0.00%
    Not provided 5 $2,325,000 $465,000 $0 0.00%
    American Indian 1 $265,000 $265,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.65%

    Abington Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    77.52%

    Abington Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 129 $64,325,000 $498,643

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $13,545,000 $1,935,000
    Single Family (1-4 Units):Site-Built 122 $50,780,000 $416,230

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    ABINGTON BANK 1 East Main Street Avon, MA 2322 Full Service B&M $61,975
    ABINGTON BANK 350 Front Street Marion, MA 2738 Full Service B&M $39,130
    ABINGTON BANK 40 South Main St Cohasset, MA 2025 Full Service B&M $109,203
    ABINGTON BANK 6 Harrison Avenue Abington, MA 2351 Full Service B&M $116,290
    ABINGTON BANK 800 Chief Justice Cushing Way Cohasset, MA 2025 Full Service B&M $44,024
    ABINGTON BANK 95 North Franklin Street Holbrook, MA 2343 Full Service B&M $85,599

    For 2019, Abington Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,968
    Net interest income $12,320
    Total noninterest income $1,187
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $341
    Trading account gains and fees $0
    Additional Noninterest Income $846
    Pre-tax net operating income $3,087
    Securities gains (or losses, -) $11
    Income before extraordinary items $2,282
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,282
    Minority interest net income $0
    Net income $2,282
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,273

    Abington Bank's gross interest income from loans was $17,968,000.
    Abington Bank's net interest income from loans was $12,320,000.
    Abington Bank's fee based income from loans was $341,000.
    Abington Bank's net income from loans was $2,282,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,648
    Provision for credit losses $414
    Total noninterest expense $10,006
    Salaries and employee benefits $6,257
    Premises and equipment expense $925
    Additional noninterest expense $2,824
    Applicable income taxes $816
    Net charge-offs $4
    Cash dividends $0

    Abington Bank's interest expense for loans was $5,648,000.
    Abington Bank's payroll and benefits expense were $6,257,000.
    Abington Bank's property, plant and equipment expenses $925,000.

    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 $438,062
    Deposits held in domestic offices $438,062
    Deposits by Individuals, partnerships, and corporations $417,916
    Deposits by U.S. Government $4
    Deposits by States and political subdivisions in the U.S. $11,416
    Deposits by Commercial banks and other depository institutions in U.S. $8,726
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $126,980
    Demand deposits $65,905
    Nontransaction accounts $311,082
    Money market deposit accounts (MMDAs) $64,742
    Other savings deposits (excluding MMDAs) $85,389
    Total time deposits $160,951
    Total time and savings deposits $372,157
    Noninterest-bearing deposits $64,924
    Interest-bearing deposits $373,138
    Retail deposits $381,754
    IRAs and Keogh plan accounts $26,728
    Brokered deposits $6,026
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $565,988
    Cash & Balances due from depository institutions $22,764
    Interest-bearing balances $18,288
    Total securities $47,914
    Federal funds sold & reverse repurchase $4,765
    Net loans and leases $429,899
    Loan and leases loss allowance $411
    Trading account assets $0
    Bank premises and fixed assets $14,477
    Other real estate owned $0
    Goodwill and other intangibles $26,189
    All other assets $19,980

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $565,988
    Total Liabilities $476,909
    Total deposits $438,062
    Interest-bearing deposits $373,138
    Deposits held in domestic offices $438,062
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $34,761
    Subordinated debt $0
    All other liabilities $4,086

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $429,899
    Loan and leases loss allowance $411
    Total loans and leases (domestic) $430,310
    All real estate loans $421,443
    Real estate loans in domestic offices $421,443
    Construction and development loans $50,880
    Residential 1-4 family construction $24,428
    Other construction, all land development and other land $26,452
    Loans secured by nonfarm nonresidential properties $80,996
    Nonfarm nonresidential secured by owner-occupied properties $47,841
    Commercial real estate & other non-farm, non-residential $33,155
    Multifamily residential real estate $39,302
    1-4 family residential loans $250,265
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $8,132
    To non-U.S. addressees $0
    Loans to individuals $715
    Credit card loans $0
    Related Plans $6
    Consumer Auto Loans $159
    Other loans to individuals $550
    All other loans & leases $20
    Loans to foreign governments and official institutions $0
    Other loans $20
    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 $5,839
    Non 1-4 family restructured loans & leases $4,364
    Total loans and leases (foreign) $0

    ABINGTON BANK had $429,899,000 of loans outstanding in 2019. $421,443,000 of loans were in real estate loans. $50,880,000 of loans were in development loans. $39,302,000 of loans were in multifamily mortgage loans. $250,265,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $159,000 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 184 $53,416 $290,304
    Nonfarm, nonresidential loans - <$100k 17 $869 $51,118
    Nonfarm, nonresidential loans - $100-250k 45 $5,956 $132,356
    Nonfarm, nonresidential loans - $250k-1MM 122 $46,591 $381,893
    Commercial & Industrial, US addressed loans - <$1MM 60 $6,920 $115,333
    Commercial & Industrial, US addressed loans - <$100k 23 $715 $31,087
    Commercial & Industrial, US addressed loans - $100-250k 17 $1,532 $90,118
    Commercial & Industrial, US addressed loans - $250k-1MM 20 $4,673 $233,650