Patriot Community Bank Mortgage Rates, Fees & Info

Woburn, MA

LEI: 549300GGCODNBIXJ4705

Tax ID: 20-3411700

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Patriot Community Bank is a smaller bank specializing in Home Purchase loans. Patriot Community 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 by origination volume include: Boston, Worcester, Providence, Washington, and Vineyard Haven among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Patriot Community Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Patriot Community Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    202

    Origination Dollar Volume (All Markets)

    $91,980,000

    Employee count

    25

    Awards

    Patriot Community Bank 30 Year Conventional Loans bronze Patriot Community Bank 30 Year Conventional Loans silver
    Show all (2) awards

    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) 168 $80,810,000 $481,012 $3,535 4.50%
    WORCESTER, MA-CT (FHA|USDA|VA) 9 $3,485,000 $387,222 $2,951 4.46%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 6 $1,720,000 $286,667 $2,836 4.75%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $940,000 $470,000 $9,532 4.38%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $805,000 $805,000 $5,901 4.63%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $675,000 $675,000 $4,471 4.50%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $670,000 $335,000 $2,904 4.44%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 2 $350,000 $175,000 $0 4.56%
    Kill Devil Hills, NC (FHA|USDA|VA) 1 $345,000 $345,000 $7,143 4.63%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $345,000 $345,000 $0 5.13%
    Outside of Metro Areas 2 $330,000 $165,000 $2,318 3.88%
    Laconia, NH (FHA|USDA|VA) 1 $325,000 $325,000 $2,852 4.38%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $255,000 $255,000 $4,036 4.38%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $245,000 $245,000 $0 5.13%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $195,000 $195,000 $3,007 4.25%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $175,000 $175,000 $2,416 4.50%
    GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 1 $165,000 $165,000 $2,775 4.50%
    ROCHESTER, NY (FHA|USDA|VA) 1 $145,000 $145,000 $3,550 3.50%
    Patriot Community Bank's top markets include Boston, Worcester, Providence, Washington, and Vineyard Haven among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Patriot Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Triangle Credit Union
    Similarity Rank: 147
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165
    Coastal Heritage Bank
    Similarity Rank: 180
    Bristol County Savings Bank
    Similarity Rank: 210
    Milford Federal Bank
    Similarity Rank: 285
    Methuen Cooperative Bank
    Similarity Rank: 330
    The Cooperative Bank
    Similarity Rank: 380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 199 $90,585,000 $455,201 $3,392 4.50%
    FHA 3 $1,395,000 $465,000 $11,432 4.08%

    For 2018, Patriot Community Bank's most frequently originated type of loan was Conventional, with 199 originations. Their 2nd most popular type was FHA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 149 $71,075,000 $477,013 $3,803 4.53%
    Cash Out Refi 29 $12,065,000 $416,034 $2,846 4.58%
    Refi 21 $7,905,000 $376,429 $2,981 4.13%
    Home Improvement 3 $935,000 $311,667 $778 4.69%

    For 2018, Patriot Community Bank's most frequently cited loan purpose was Home Purchase, with 149 originations. The 2nd most popular reason was Cash Out Refi, with 29 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 164 $70,200,000 $428,049 $3,726 4.51%
    15 Year 18 $5,460,000 $303,333 $2,752 3.81%
    1 Year 10 $10,960,000 $1,096,000 $0 5.55%
    Other 5 $4,175,000 $835,000 $778 5.31%
    10 Year 3 $515,000 $171,667 $2,280 3.67%
    20 Year 2 $670,000 $335,000 $3,039 3.85%

    For 2018, Patriot Community Bank's most frequently cited loan duration was 30 Year, with 164 originations. The 2nd most popular length was 15 Year, with 18 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 163 $68,115,000 $417,883
    $1k-2k 1 $375,000 $375,000

    Patriot Community Bank's average total fees were $3,726, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 163 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 131 $56,805,000 $433,626
    3-4% 37 $14,065,000 $380,135
    5-6% 33 $21,085,000 $638,939

    During 2018, Patriot Community Bank's average interest rate for loans was 4.51%, while their most frequently originated rate bucket for loans was 4-5%, with 131 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 85 $25,405,000 $298,882 $3,039 4.44%
    $400k-600k 56 $26,320,000 $470,000 $3,998 4.47%
    $600k-1MM 31 $22,315,000 $719,839 $5,136 4.54%
    $100k-200k 17 $2,855,000 $167,941 $2,653 4.41%
    $1MM+ 11 $14,965,000 $1,360,455 $0 5.17%
    $100,000 or less 2 $120,000 $60,000 $1,568 3.88%

    2018 saw Patriot Community Bank place emphasis on $200k-400k loans with 85 originations, totaling $25,405,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 64 $22,840,000 $356,875 $3,936 4.36%
    $150k-250k 56 $25,530,000 $455,893 $4,060 4.48%
    $250k+ 26 $16,470,000 $633,462 $3,684 4.44%
    $75k-100k 25 $7,675,000 $307,000 $2,650 4.43%
    $50k-75k 13 $3,725,000 $286,538 $2,878 4.59%
    $50k or less 6 $2,000,000 $333,333 $2,488 4.50%

    Patriot Community Bank lent most frequently to those with incomes in the $100k-150k range, with 64 originations. The second most popular income band? $150k-250k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 44 $19,720,000 $448,182 $3,654 4.42%
    20-30% 35 $12,405,000 $354,429 $2,930 4.46%
    39% 11 $6,385,000 $580,455 $4,930 4.45%
    42% 11 $4,625,000 $420,455 $2,957 4.45%
    45% 11 $3,905,000 $355,000 $3,149 4.36%
    41% 11 $5,635,000 $512,273 $4,225 4.23%
    49% 8 $3,040,000 $380,000 $5,052 4.20%
    40% 7 $2,485,000 $355,000 $2,885 4.38%
    <20% 6 $1,840,000 $306,667 $4,131 4.27%
    36% 6 $2,030,000 $338,333 $4,443 4.48%
    38% 6 $2,290,000 $381,667 $2,891 4.27%
    46% 6 $1,780,000 $296,667 $2,875 4.42%
    48% 6 $1,980,000 $330,000 $2,705 4.60%
    37% 5 $3,295,000 $659,000 $6,603 4.40%
    44% 5 $1,955,000 $391,000 $3,220 4.70%
    43% 4 $1,540,000 $385,000 $2,889 4.19%
    47% 2 $490,000 $245,000 $740 5.06%
    50-60% 2 $480,000 $240,000 $2,136 4.63%

    Patriot Community Bank lent most frequently to those with DTI ratios of 30-36%, with 44 originations. The next most common DTI ratio? 20-30%, with 35 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 107 $46,205,000 $431,822 $3,636 4.41%
    White 80 $31,800,000 $397,500 $3,583 4.49%
    Not applicable 11 $12,645,000 $1,149,545 $0 5.52%
    Not provided 2 $730,000 $365,000 $0 3.63%
    American Indian 1 $345,000 $345,000 $0 5.38%
    Black 1 $255,000 $255,000 $2,932 3.88%

    Approval Rates

    Total approvals of all applications
    98.03%

    Patriot Community 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 origination
    90.10%

    Patriot Community Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 202 $91,980,000 $455,347

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $1,095,000 $1,095,000
    Single Family (1-4 Units):Site-Built 201 $90,885,000 $452,164

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $6,400,000 $355,556 $3,058 4.30%
    40-60% 36 $18,170,000 $504,722 $3,474 4.43%
    60-80% 116 $55,430,000 $477,845 $3,457 4.56%
    80-100% 29 $11,655,000 $401,897 $4,357 4.49%
    Under 20% 2 $300,000 $150,000 $2,358 4.06%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Patriot Community Bank 237 Lexington Street Woburn, MA 1801 Full Service B&M $155,346

    For 2018, Patriot Community Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $7,805
    Net interest income $5,836
    Total noninterest income $699
    Gross Fiduciary activities income $1
    Service charges on deposit accounts $56
    Trading account gains and fees $0
    Additional Noninterest Income $642
    Pre-tax net operating income $2,318
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,660
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,660
    Minority interest net income $0
    Net income $1,660
    Sale, conversion, retirement of capital stock, net $-171
    Net operating income $1,660

    Patriot Community Bank's gross interest income from loans was $7,805,000.
    Patriot Community Bank's net interest income from loans was $5,836,000.
    Patriot Community Bank's fee based income from loans was $56,000.
    Patriot Community Bank's net income from loans was $1,660,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,969
    Provision for credit losses $0
    Total noninterest expense $4,217
    Salaries and employee benefits $2,855
    Premises and equipment expense $321
    Additional noninterest expense $1,041
    Applicable income taxes $658
    Net charge-offs $0
    Cash dividends $0

    Patriot Community Bank's interest expense for loans was $1,969,000.
    Patriot Community Bank's payroll and benefits expense were $2,855,000.
    Patriot Community Bank's property, plant and equipment expenses $321,000.

    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 $148,046
    Deposits held in domestic offices $148,046
    Deposits by Individuals, partnerships, and corporations $148,046
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $32,713
    Demand deposits $21,289
    Nontransaction accounts $115,333
    Money market deposit accounts (MMDAs) $17,419
    Other savings deposits (excluding MMDAs) $4,322
    Total time deposits $93,590
    Total time and savings deposits $126,757
    Noninterest-bearing deposits $21,289
    Interest-bearing deposits $126,757
    Retail deposits $122,029
    IRAs and Keogh plan accounts $9,175
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $173,328
    Cash & Balances due from depository institutions $39,363
    Interest-bearing balances $37,728
    Total securities $0
    Federal funds sold & reverse repurchase $0
    Net loans and leases $132,246
    Loan and leases loss allowance $1,847
    Trading account assets $0
    Bank premises and fixed assets $86
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $1,633

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $173,328
    Total Liabilities $149,275
    Total deposits $148,046
    Interest-bearing deposits $126,757
    Deposits held in domestic offices $148,046
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,229

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $132,246
    Loan and leases loss allowance $1,847
    Total loans and leases (domestic) $134,093
    All real estate loans $127,872
    Real estate loans in domestic offices $127,872
    Construction and development loans $27,257
    Residential 1-4 family construction $18,590
    Other construction, all land development and other land $8,667
    Loans secured by nonfarm nonresidential properties $44,124
    Nonfarm nonresidential secured by owner-occupied properties $15,788
    Commercial real estate & other non-farm, non-residential $28,336
    Multifamily residential real estate $10,515
    1-4 family residential loans $45,976
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $6,126
    To non-U.S. addressees $0
    Loans to individuals $95
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $95
    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 $3,775
    Non 1-4 family restructured loans & leases $3,775
    Total loans and leases (foreign) $0

    Patriot Community Bank had $132,246,000 of loans outstanding in 2018. $127,872,000 of loans were in real estate loans. $27,257,000 of loans were in development loans. $10,515,000 of loans were in multifamily mortgage loans. $45,976,000 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 36 $11,947 $331,861
    Nonfarm, nonresidential loans - <$100k 3 $55 $18,333
    Nonfarm, nonresidential loans - $100-250k 9 $1,340 $148,889
    Nonfarm, nonresidential loans - $250k-1MM 24 $10,552 $439,667
    Commercial & Industrial, US addressed loans - <$1MM 50 $6,126 $122,520
    Commercial & Industrial, US addressed loans - <$100k 23 $801 $34,826
    Commercial & Industrial, US addressed loans - $100-250k 11 $434 $39,455
    Commercial & Industrial, US addressed loans - $250k-1MM 16 $4,891 $305,688