Bridgewater Savings Bank Mortgage Rates, Fees & Info
Raynham, MALEI: 549300GBZNWRGLS7CP89
Tax ID: 04-1118820
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Bank Data
Overview
Bridgewater Savings Bank is a smaller bank specializing in Refi, Cash Out Refi, and Home Purchase loans. Bridgewater Savings Bank 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 Boston, Providence, Barnstable Town, Worcester, and Vineyard Haven among others. Bridgewater 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. Bridgewater Savings Bank is typically a low fee lendor.Originations
1,489Origination Dollar Volume (All Markets)
$606,995,000Employee count
182Awards
Bridgewater Savings Bank - 2021
Bridgewater Savings Bank is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for Bridgewater Savings Bank?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Bridgewater Savings Bank's average 30 year fixed rate mortgage of loans were
2.87%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.28%.
Relative Fees
Bridgewater Savings Bank's average total fees for a 30 year fixed rate
mortgage are $2,989.
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 |
|---|---|---|---|---|---|
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 1,063 | $454,615,000 | $427,672 | $2,863 | 2.86% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 318 | $104,130,000 | $327,453 | $2,610 | 2.74% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 62 | $30,670,000 | $494,677 | $2,734 | 2.78% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 39 | $13,475,000 | $345,513 | $3,131 | 2.82% |
| Vineyard Haven, MA (FHA|USDA|VA) | 4 | $2,680,000 | $670,000 | $3,876 | 2.81% |
| Outside of Metro Areas | 1 | $965,000 | $965,000 | $4,230 | 2.88% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 2 | $460,000 | $230,000 | $2,029 | 3.00% |
Bridgewater Savings Bank's top markets include Boston, Providence, Barnstable Town, Worcester, and Vineyard Haven among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,462 | $596,300,000 | $407,866 | $2,765 | 2.84% |
| VA | 19 | $7,435,000 | $391,316 | $3,002 | 2.39% |
| FHA | 8 | $3,260,000 | $407,500 | $10,396 | 2.55% |
For the 2021 period, Bridgewater Savings Bank's most frequently originated loan type of loans were Conventional, with 1,462 originations. Their 2nd most popular type is VA, with 19 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 703 | $273,635,000 | $389,239 | $2,493 | 2.77% |
| Cash Out Refi | 441 | $163,525,000 | $370,805 | $2,593 | 2.81% |
| Home Purchase | 324 | $161,270,000 | $497,747 | $3,868 | 2.96% |
| Other | 15 | $6,285,000 | $419,000 | $2,742 | 2.93% |
| Home Improvement | 6 | $2,280,000 | $380,000 | $3,068 | 2.73% |
For the 2021, Bridgewater Savings Bank's most frequently cited loan purpose of loans were Refi, with 703 originations. The 2nd most popular reason of loans were Cash Out Refi, with 441 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1,036 | $445,720,000 | $430,232 | $2,989 | 2.87% |
| 15 Year | 219 | $65,105,000 | $297,283 | $2,363 | 2.32% |
| 20 Year | 117 | $32,695,000 | $279,444 | $2,304 | 2.63% |
| 10 Year | 55 | $35,505,000 | $645,545 | $2,195 | 2.87% |
| Other | 53 | $18,175,000 | $342,925 | $2,374 | 4.20% |
| 1 Year | 6 | $3,600,000 | $600,000 | $0 | 4.46% |
| 30+ year | 1 | $445,000 | $445,000 | $3,996 | 3.25% |
| 3 Year | 1 | $5,725,000 | $5,725,000 | $0 | 4.00% |
| 5 Year | 1 | $25,000 | $25,000 | $0 | 4.38% |
For the 2021, Bridgewater Savings Bank's most frequently cited loan length of loans were 30 Year, with 1,036 originations. The 2nd most popular length of loans were 15 Year, with 219 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 1,239 | $481,455,000 | $388,584 |
| $1k-2k | 97 | $45,965,000 | $473,866 |
| $2k-3k | 10 | $5,060,000 | $506,000 |
| $3k-4k | 5 | $1,565,000 | $313,000 |
| $5k+ | 2 | $1,690,000 | $845,000 |
$2,989 of loans were Bridgewater Savings Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,239 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 837 | $347,425,000 | $415,084 |
| <2.5% | 371 | $109,255,000 | $294,488 |
| 3-4% | 226 | $137,630,000 | $608,982 |
| 4-5% | 50 | $12,020,000 | $240,400 |
| 5-6% | 5 | $665,000 | $133,000 |
During 2021, Bridgewater Savings Bank's average interest rate of loans were 2.87%, while their most frequently originated rate bucket of loans were 2.5-3%, with 837 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 692 | $206,680,000 | $298,671 | $2,496 | 2.74% |
| $400k-600k | 361 | $173,795,000 | $481,427 | $3,121 | 2.81% |
| $100k-200k | 200 | $31,480,000 | $157,400 | $2,179 | 2.79% |
| $600k-1MM | 156 | $118,480,000 | $759,487 | $3,899 | 3.00% |
| $1MM+ | 46 | $74,160,000 | $1,612,174 | $4,814 | 3.25% |
| $100,000 or less | 34 | $2,400,000 | $70,588 | $1,786 | 3.62% |
2021 saw Bridgewater Savings Bank place emphasis on $200k-400k loans with 692 originations, totaling $206,680,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $150k-250k | 394 | $183,270,000 | $465,152 | $2,967 | 2.79% |
| $100k-150k | 365 | $130,515,000 | $357,575 | $2,763 | 2.78% |
| $75k-100k | 242 | $66,510,000 | $274,835 | $2,555 | 2.76% |
| $50k-75k | 194 | $44,920,000 | $231,546 | $2,536 | 2.88% |
| $250k+ | 177 | $115,625,000 | $653,249 | $3,459 | 2.78% |
| $50k or less | 50 | $8,090,000 | $161,800 | $2,342 | 3.02% |
Bridgewater Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 394 originations. The second most popular income band? $100k-150k, with 365 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 420 | $164,380,000 | $391,381 | $2,761 | 2.75% |
| 30-36% | 312 | $119,080,000 | $381,667 | $2,803 | 2.81% |
| <20% | 130 | $48,380,000 | $372,154 | $2,566 | 2.62% |
| 43% | 64 | $25,200,000 | $393,750 | $2,817 | 2.84% |
| 44% | 60 | $23,020,000 | $383,667 | $2,971 | 3.07% |
| 42% | 59 | $25,715,000 | $435,847 | $2,951 | 2.95% |
| 41% | 53 | $20,555,000 | $387,830 | $3,035 | 2.86% |
| 36% | 51 | $18,775,000 | $368,137 | $2,897 | 2.80% |
| 38% | 49 | $18,915,000 | $386,020 | $3,202 | 2.77% |
| 39% | 48 | $17,290,000 | $360,208 | $2,786 | 2.93% |
| 40% | 42 | $17,770,000 | $423,095 | $2,903 | 2.84% |
| 37% | 42 | $16,020,000 | $381,429 | $2,724 | 2.82% |
| 45% | 26 | $10,420,000 | $400,769 | $3,159 | 2.78% |
| 48% | 21 | $7,075,000 | $336,905 | $2,471 | 2.85% |
| 49% | 20 | $6,740,000 | $337,000 | $3,083 | 2.78% |
| 46% | 19 | $7,575,000 | $398,684 | $3,248 | 2.78% |
| 47% | 19 | $6,075,000 | $319,737 | $2,962 | 2.86% |
| 50-60% | 3 | $325,000 | $108,333 | $1,955 | 3.08% |
Bridgewater Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 420 originations. The next most common DTI ratio? 30-36%, with 312 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 1,165 | $453,655,000 | $389,403 | $2,809 | 2.80% |
| Not provided | 219 | $81,445,000 | $371,895 | $2,719 | 2.82% |
| Not applicable | 38 | $46,010,000 | $1,210,789 | $0 | 3.93% |
| Black | 33 | $11,385,000 | $345,000 | $3,419 | 2.89% |
| Asian | 20 | $8,440,000 | $422,000 | $3,035 | 2.49% |
| Asian Indian | 5 | $3,465,000 | $693,000 | $3,517 | 2.43% |
| Other Asian | 5 | $1,235,000 | $247,000 | $2,415 | 3.22% |
| American Indian | 3 | $895,000 | $298,333 | $2,516 | 3.37% |
| Korean | 1 | $465,000 | $465,000 | $2,449 | 2.13% |
Approval Rates
Total approvals of all applications92.56%
Bridgewater Savings Bank has an average approval rate.
Pick Rate
Approvals leading to origination81.84%
Bridgewater Savings Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| 375.0 | 38 | $4,450,000 | $117,105 |
| NA | 1,451 | $602,545,000 | $415,262 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,489 | $606,995,000 | $407,653 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 174 | $40,830,000 | $234,655 | $2,431 | 2.76% |
| 40-60% | 446 | $158,590,000 | $355,583 | $2,512 | 2.73% |
| 60-80% | 652 | $313,950,000 | $481,518 | $2,803 | 2.90% |
| 80-100% | 192 | $89,660,000 | $466,979 | $3,847 | 2.84% |
| Under 20% | 21 | $2,455,000 | $116,905 | $2,123 | 3.22% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Bluestone Bank | 120 West Center Street West Bridgewater, MA 2379 | Full Service B&M | $85,349 |
| Bluestone Bank | 225 West Main Street Norton, MA 2766 | Full Service B&M | $92,465 |
| Bluestone Bank | 27 Mattakeesett Street Pembroke, MA 2359 | Full Service B&M | $66,010 |
| Bluestone Bank | 29 Bedford Street East Bridgewater, MA 2333 | Full Service B&M | $82,527 |
| Bluestone Bank | 3 Taunton Street Plainville, MA 2762 | Full Service B&M | $89,217 |
| Bluestone Bank | 5 Scotland Boulevard Bridgewater, MA 2324 | Full Service B&M | $39,776 |
| Bluestone Bank | 6 Main Street Lakeville, MA 2346 | Full Service B&M | $104,380 |
| Bluestone Bank | 728 West Center Street West Bridgewater, MA 2379 | Full Service B&M | $67,142 |
| Bluestone Bank | 756 Orchard St Raynham, MA 2767 | Full Service B&M | $97,469 |
| Bluestone Bank | 80 North Main Street Mansfield, MA 2048 | Full Service B&M | $242,045 |
| Bluestone Bank | 14 Main Street Bridgewater, MA 2324 | Full Service B&M | $157,710 |
| Bluestone Bank | 2109 Bay Street, Northwoods Crossing Taunton, MA 2780 | Full Service B&M | $34,345 |
For 2021, Bridgewater Savings Bank had 12 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $37,987 |
| Net interest income | $35,562 |
| Total noninterest income | $13,199 |
| Gross Fiduciary activities income | $806 |
| Service charges on deposit accounts | $634 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $11,759 |
| Pre-tax net operating income | $12,422 |
| Securities gains (or losses, -) | $86 |
| Income before extraordinary items | $9,370 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $9,370 |
| Minority interest net income | $0 |
| Net income | $9,370 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $9,302 |
Bridgewater Savings Bank's gross interest income from loans was $37,987,000.
Bridgewater Savings Bank's net interest income from loans was $35,562,000.
Bridgewater Savings Bank's fee based income from loans was $634,000.
Bridgewater Savings Bank's net income from loans was $9,370,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,425 |
| Provision for credit losses | $545 |
| Total noninterest expense | $35,794 |
| Salaries and employee benefits | $22,175 |
| Premises and equipment expense | $4,057 |
| Additional noninterest expense | $9,562 |
| Applicable income taxes | $3,138 |
| Net charge-offs | $26 |
| Cash dividends | $0 |
Bridgewater Savings Bank's interest expense for loans was $2,425,000.
Bridgewater Savings Bank's payroll and benefits expense were $22,175,000.
Bridgewater Savings Bank's property, plant and equipment expenses $4,057,000.
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 | $1,183,083 |
| Deposits held in domestic offices | $1,183,083 |
| Deposits by Individuals, partnerships, and corporations | $1,016,299 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $163,807 |
| Deposits by Commercial banks and other depository institutions in U.S. | $2,977 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $365,540 |
| Demand deposits | $214,005 |
| Nontransaction accounts | $817,543 |
| Money market deposit accounts (MMDAs) | $420,382 |
| Other savings deposits (excluding MMDAs) | $215,689 |
| Total time deposits | $181,472 |
| Total time and savings deposits | $969,078 |
| Noninterest-bearing deposits | $214,005 |
| Interest-bearing deposits | $969,078 |
| Retail deposits | $1,136,773 |
| IRAs and Keogh plan accounts | $35,869 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,326,102 |
| Cash & Balances due from depository institutions | $113,525 |
| Interest-bearing balances | $108,027 |
| Total securities | $332,122 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $837,539 |
| Loan and leases loss allowance | $5,568 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $16,394 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $1,450 |
| All other assets | $25,072 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,326,102 |
| Total Liabilities | $1,192,602 |
| Total deposits | $1,183,083 |
| Interest-bearing deposits | $969,078 |
| Deposits held in domestic offices | $1,183,083 |
| % insured (estimated) | $72 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $567 |
| Subordinated debt | $0 |
| All other liabilities | $8,952 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $837,539 |
| Loan and leases loss allowance | $5,568 |
| Total loans and leases (domestic) | $843,107 |
| All real estate loans | $773,136 |
| Real estate loans in domestic offices | $773,136 |
| Construction and development loans | $59,761 |
| Residential 1-4 family construction | $41,957 |
| Other construction, all land development and other land | $17,804 |
| Loans secured by nonfarm nonresidential properties | $227,916 |
| Nonfarm nonresidential secured by owner-occupied properties | $94,007 |
| Commercial real estate & other non-farm, non-residential | $133,909 |
| Multifamily residential real estate | $58,843 |
| 1-4 family residential loans | $426,616 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $52,255 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $17,716 |
| Credit card loans | $0 |
| Related Plans | $79 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $17,637 |
| All other loans & leases | $0 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $0 |
| 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 | $0 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Bridgewater Savings Bank had $837,539,000 of loans outstanding in 2021. $773,136,000 of loans were in real estate loans. $59,761,000 of loans were in development loans. $58,843,000 of loans were in multifamily mortgage loans. $426,616,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 | 355 | $123,892 | $348,992 |
| Nonfarm, nonresidential loans - <$100k | 10 | $435 | $43,500 |
| Nonfarm, nonresidential loans - $100-250k | 85 | $12,161 | $143,071 |
| Nonfarm, nonresidential loans - $250k-1MM | 260 | $111,296 | $428,062 |
| Commercial & Industrial, US addressed loans - <$1MM | 236 | $37,723 | $159,843 |
| Commercial & Industrial, US addressed loans - <$100k | 78 | $2,581 | $33,090 |
| Commercial & Industrial, US addressed loans - $100-250k | 90 | $11,150 | $123,889 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 68 | $23,992 | $352,824 |
