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, Barnstable Town, and Providence among others. We have data for 3 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

    156

    Origination Dollar Volume (All Markets)

    $89,430,000

    Employee count

    75

    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) 145 $84,585,000 $583,345 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 5 $3,445,000 $689,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 6 $1,400,000 $233,333 $0 0.00%
    Abington Bank's top markets include Boston, Barnstable Town, and Providence among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 156 $89,430,000 $573,269 $0 0.00%

    For 2020, Abington Bank's most frequently originated type of loan was Conventional, with 156 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 49 $48,775,000 $995,408 $0 0.00%
    Refi 45 $23,515,000 $522,556 $0 0.00%
    Cash Out Refi 34 $14,020,000 $412,353 $0 0.00%
    Other 22 $1,990,000 $90,455 $0 0.00%
    Home Improvement 6 $1,130,000 $188,333 $0 0.00%

    For 2020, Abington Bank's most frequently cited loan purpose was Home Purchase, with 49 originations. The 2nd most popular reason was Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 156 $89,430,000 $573,269 $0 0.00%

    For 2020, Abington Bank's most frequently cited loan duration was Other, with 156 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 54 $14,570,000 $269,815 $0 0.00%
    $100,000 or less 25 $1,495,000 $59,800 $0 0.00%
    $1MM+ 23 $50,995,000 $2,217,174 $0 0.00%
    $100k-200k 22 $3,210,000 $145,909 $0 0.00%
    $400k-600k 18 $8,600,000 $477,778 $0 0.00%
    $600k-1MM 14 $10,560,000 $754,286 $0 0.00%

    2020 saw Abington Bank place emphasis on $200k-400k loans with 54 originations, totaling $14,570,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 33 $6,625,000 $200,758 $0 0.00%
    $150k-250k 29 $9,055,000 $312,241 $0 0.00%
    $75k-100k 18 $4,030,000 $223,889 $0 0.00%
    $50k-75k 14 $2,420,000 $172,857 $0 0.00%
    $250k+ 8 $8,440,000 $1,055,000 $0 0.00%
    $50k or less 7 $1,465,000 $209,286 $0 0.00%

    Abington Bank lent most frequently to those with incomes in the $100k-150k range, with 33 originations. The second most popular income band? $150k-250k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 156 $89,430,000 $573,269 $0 0.00%

    Abington Bank lent most frequently to those with DTI ratios of Exempt%, with 156 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 42 $54,540,000 $1,298,571 $0 0.00%
    White 88 $23,210,000 $263,750 $0 0.00%
    Not provided 23 $10,955,000 $476,304 $0 0.00%
    Black 3 $725,000 $241,667 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.98%

    Abington Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    65.38%

    Abington Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 156 $89,430,000 $573,269

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 22 $37,890,000 $1,722,273
    Single Family (1-4 Units):Site-Built 134 $51,540,000 $384,627

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Abington Bank 1 East Main Street Avon, MA 2322 Full Service B&M $64,534
    Abington Bank 350 Front Street Marion, MA 2738 Full Service B&M $38,155
    Abington Bank 40 South Main St Cohasset, MA 2025 Full Service B&M $96,348
    Abington Bank 6 Harrison Avenue Abington, MA 2351 Full Service B&M $124,842
    Abington Bank 800 Chief Justice Cushing Way Cohasset, MA 2025 Full Service B&M $42,691
    Abington Bank 95 North Franklin Street Holbrook, MA 2343 Full Service B&M $88,952

    For 2020, Abington Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $23,035
    Net interest income $18,102
    Total noninterest income $1,372
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $224
    Trading account gains and fees $0
    Additional Noninterest Income $1,148
    Pre-tax net operating income $4,477
    Securities gains (or losses, -) $22
    Income before extraordinary items $3,409
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,409
    Minority interest net income $0
    Net income $3,409
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,391

    Abington Bank's gross interest income from loans was $23,035,000.
    Abington Bank's net interest income from loans was $18,102,000.
    Abington Bank's fee based income from loans was $224,000.
    Abington Bank's net income from loans was $3,409,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,933
    Provision for credit losses $1,869
    Total noninterest expense $13,128
    Salaries and employee benefits $8,003
    Premises and equipment expense $1,388
    Additional noninterest expense $3,737
    Applicable income taxes $1,090
    Net charge-offs $100
    Cash dividends $0

    Abington Bank's interest expense for loans was $4,933,000.
    Abington Bank's payroll and benefits expense were $8,003,000.
    Abington Bank's property, plant and equipment expenses $1,388,000.

    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 1.0%
    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 $455,385
    Deposits held in domestic offices $455,385
    Deposits by Individuals, partnerships, and corporations $443,842
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $8,718
    Deposits by Commercial banks and other depository institutions in U.S. $2,822
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $58,163
    Demand deposits $17,329
    Nontransaction accounts $397,222
    Money market deposit accounts (MMDAs) $56,042
    Other savings deposits (excluding MMDAs) $202,108
    Total time deposits $139,072
    Total time and savings deposits $438,056
    Noninterest-bearing deposits $17,329
    Interest-bearing deposits $438,056
    Retail deposits $405,757
    IRAs and Keogh plan accounts $26,534
    Brokered deposits $248
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $573,495
    Cash & Balances due from depository institutions $56,119
    Interest-bearing balances $50,224
    Total securities $51,141
    Federal funds sold & reverse repurchase $8,837
    Net loans and leases $394,916
    Loan and leases loss allowance $2,180
    Trading account assets $0
    Bank premises and fixed assets $14,164
    Other real estate owned $0
    Goodwill and other intangibles $25,040
    All other assets $23,278

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $573,495
    Total Liabilities $480,452
    Total deposits $455,385
    Interest-bearing deposits $438,056
    Deposits held in domestic offices $455,385
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $20,634
    Subordinated debt $0
    All other liabilities $4,433

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $394,916
    Loan and leases loss allowance $2,180
    Total loans and leases (domestic) $397,096
    All real estate loans $377,393
    Real estate loans in domestic offices $377,393
    Construction and development loans $41,067
    Residential 1-4 family construction $26,702
    Other construction, all land development and other land $14,365
    Loans secured by nonfarm nonresidential properties $81,153
    Nonfarm nonresidential secured by owner-occupied properties $47,288
    Commercial real estate & other non-farm, non-residential $33,865
    Multifamily residential real estate $40,184
    1-4 family residential loans $214,989
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $19,371
    To non-U.S. addressees $0
    Loans to individuals $320
    Credit card loans $0
    Related Plans $1
    Consumer Auto Loans $11
    Other loans to individuals $308
    All other loans & leases $12
    Loans to foreign governments and official institutions $0
    Other loans $12
    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 $676
    Non 1-4 family restructured loans & leases $327
    Total loans and leases (foreign) $0

    ABINGTON BANK had $394,916,000 of loans outstanding in 2020. $377,393,000 of loans were in real estate loans. $41,067,000 of loans were in development loans. $40,184,000 of loans were in multifamily mortgage loans. $214,989,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $11,000 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 174 $48,931 $281,213
    Nonfarm, nonresidential loans - <$100k 17 $733 $43,118
    Nonfarm, nonresidential loans - $100-250k 41 $5,610 $136,829
    Nonfarm, nonresidential loans - $250k-1MM 116 $42,588 $367,138
    Commercial & Industrial, US addressed loans - <$1MM 201 $15,857 $78,891
    Commercial & Industrial, US addressed loans - <$100k 144 $4,272 $29,667
    Commercial & Industrial, US addressed loans - $100-250k 30 $3,729 $124,300
    Commercial & Industrial, US addressed loans - $250k-1MM 27 $7,856 $290,963