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 Refi and 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, Barnstable Town, Bridgeport, and Providence among others. We have data for 27 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.

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    Originations

    593

    Origination Dollar Volume (All Markets)

    $248,085,000

    Employee count

    24

    Awards

    Patriot Community Bank 30 Year Conventional Loans silver Patriot Community Bank 30 Year Conventional Loans gold
    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) 502 $216,720,000 $431,713 $930 2.76%
    WORCESTER, MA-CT (FHA|USDA|VA) 33 $10,885,000 $329,848 $1,136 2.66%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 11 $3,675,000 $334,091 $610 2.55%
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 4 $2,240,000 $560,000 $801 2.66%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 6 $2,040,000 $340,000 $1,174 2.58%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,195,000 $398,333 $0 2.63%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $1,105,000 $368,333 $4,192 2.71%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $1,030,000 $257,500 $670 2.87%
    Key West, FL (FHA|USDA|VA) 1 $975,000 $975,000 $7,882 3.50%
    Outside of Metro Areas 3 $775,000 $258,333 $2,295 2.88%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 3 $685,000 $228,333 $871 2.63%
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $675,000 $675,000 $0 2.88%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $645,000 $645,000 $4,415 3.38%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $630,000 $315,000 $0 2.75%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $535,000 $535,000 $6,199 3.50%
    SPRINGFIELD, MA (FHA|USDA|VA) 2 $500,000 $250,000 $1,356 2.75%
    Laconia, NH (FHA|USDA|VA) 2 $490,000 $245,000 $2,546 2.56%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $485,000 $485,000 $0 2.13%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $475,000 $475,000 $4,663 2.38%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $395,000 $395,000 $0 2.50%
    Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $365,000 $365,000 $0 2.88%
    BOULDER, CO (FHA|USDA|VA) 1 $325,000 $325,000 $0 2.88%
    JACKSONVILLE, FL (FHA|USDA|VA) 2 $310,000 $155,000 $1,544 3.50%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 1 $295,000 $295,000 $3,374 2.50%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $225,000 $225,000 $3,564 2.75%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $205,000 $205,000 $4,770 2.63%
    Augusta-Waterville, ME (FHA|USDA|VA) 1 $205,000 $205,000 $3,425 3.25%
    Patriot Community Bank's top markets include Boston, Worcester, Barnstable Town, Bridgeport, and Providence among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • California (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.

    Sharon & Crescent United Credit Union
    Similarity Rank: 335
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    Middlesex Savings Bank
    Similarity Rank: 672
    Bridgewater Savings Bank
    Similarity Rank: 672
    East Boston Savings Bank
    Similarity Rank: 755
    Piscataqua Savings Bank
    Similarity Rank: 789
    Norwood Co-operative Bank
    Similarity Rank: 820
    QUINCY CREDIT UNION
    Similarity Rank: 900
    HARVARD UNIVERSITY EMPLOYEES
    Similarity Rank: 1001
    Walpole Co-operative Bank
    Similarity Rank: 1052

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 590 $246,950,000 $418,559 $971 2.75%
    FHA 3 $1,135,000 $378,333 $7,671 2.71%

    For 2021, Patriot Community Bank's most frequently originated type of loan was Conventional, with 590 originations. Their 2nd most popular type was FHA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 407 $148,505,000 $364,877 $574 2.63%
    Home Purchase 96 $50,160,000 $522,500 $3,016 3.04%
    Cash Out Refi 84 $47,940,000 $570,714 $1,066 3.01%
    Other 4 $1,170,000 $292,500 $0 2.00%
    Home Improvement 2 $310,000 $155,000 $0 3.50%

    For 2021, Patriot Community Bank's most frequently cited loan purpose was Refi, with 407 originations. The 2nd most popular reason was Home Purchase, with 96 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 376 $159,820,000 $425,053 $1,112 2.87%
    15 Year 120 $39,700,000 $330,833 $829 2.30%
    20 Year 56 $17,390,000 $310,536 $799 2.69%
    10 Year 19 $4,555,000 $239,737 $720 2.24%
    1 Year 12 $17,780,000 $1,481,667 $0 4.44%
    Other 10 $8,840,000 $884,000 $870 2.85%

    For 2021, Patriot Community Bank's most frequently cited loan duration was 30 Year, with 376 originations. The 2nd most popular length was 15 Year, with 120 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 502 $190,980,000 $380,438
    $1k-2k 69 $25,475,000 $369,203
    $5k+ 2 $1,270,000 $635,000
    $3k-4k 1 $785,000 $785,000
    $4k-5k 1 $345,000 $345,000

    Patriot Community Bank's average total fees were $1,112, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 502 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 294 $116,150,000 $395,068
    <2.5% 194 $64,780,000 $333,918
    3-4% 91 $41,315,000 $454,011
    4-5% 14 $25,840,000 $1,845,714

    During 2021, Patriot Community Bank's average interest rate for loans was 2.87%, while their most frequently originated rate bucket for loans was 2.5-3%, with 294 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 310 $95,050,000 $306,613 $763 2.68%
    $400k-600k 160 $77,960,000 $487,250 $935 2.70%
    $100k-200k 53 $8,585,000 $161,981 $1,168 2.64%
    $600k-1MM 50 $36,280,000 $725,600 $2,478 3.08%
    $1MM+ 17 $30,035,000 $1,766,765 $3,600 4.08%
    $100,000 or less 3 $175,000 $58,333 $1,505 1.58%

    2021 saw Patriot Community Bank place emphasis on $200k-400k loans with 310 originations, totaling $95,050,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 199 $82,505,000 $414,598 $932 2.65%
    $100k-150k 174 $59,570,000 $342,356 $880 2.70%
    $250k+ 106 $50,610,000 $477,453 $1,237 2.75%
    $75k-100k 53 $15,155,000 $285,943 $832 2.74%
    $50k-75k 40 $12,620,000 $315,500 $1,484 2.82%
    $50k or less 6 $1,870,000 $311,667 $2,042 3.21%

    Patriot Community Bank lent most frequently to those with incomes in the $150k-250k range, with 199 originations. The second most popular income band? $100k-150k, with 174 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 182 $68,200,000 $374,725 $808 2.63%
    30-36% 128 $52,040,000 $406,563 $983 2.77%
    <20% 80 $26,780,000 $334,750 $794 2.61%
    38% 31 $12,935,000 $417,258 $970 2.66%
    37% 19 $7,735,000 $407,105 $1,641 2.80%
    36% 19 $7,445,000 $391,842 $662 2.76%
    39% 19 $7,025,000 $369,737 $1,071 2.76%
    40% 14 $4,690,000 $335,000 $806 2.68%
    42% 13 $5,635,000 $433,462 $1,849 2.69%
    41% 12 $4,390,000 $365,833 $1,638 2.85%
    43% 12 $4,290,000 $357,500 $1,591 2.71%
    45% 9 $3,645,000 $405,000 $2,038 2.92%
    47% 9 $2,695,000 $299,444 $1,245 2.88%
    48% 8 $3,480,000 $435,000 $2,003 2.83%
    44% 7 $3,395,000 $485,000 $3,228 2.79%
    46% 7 $2,125,000 $303,571 $368 2.61%
    49% 6 $2,350,000 $391,667 $515 2.79%

    Patriot Community Bank lent most frequently to those with DTI ratios of 20-30%, with 182 originations. The next most common DTI ratio? 30-36%, with 128 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 408 $155,150,000 $380,270 $1,035 2.73%
    Asian 159 $62,115,000 $390,660 $783 2.65%
    Not applicable 14 $25,460,000 $1,818,571 $0 4.33%
    Not provided 9 $3,335,000 $370,556 $2,785 2.68%
    Black 2 $1,690,000 $845,000 $3,943 2.75%
    American Indian 1 $335,000 $335,000 $2,820 3.13%

    Approval Rates

    Total approvals of all applications
    97.06%

    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
    96.46%

    Patriot Community Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 593 $248,085,000 $418,356

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    593 $248,085,000 $418,356

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 109 $33,185,000 $304,450 $647 2.57%
    40-60% 198 $78,710,000 $397,525 $613 2.66%
    60-80% 234 $117,880,000 $503,761 $1,283 2.92%
    80-100% 37 $15,535,000 $419,865 $2,439 2.88%
    Under 20% 15 $2,775,000 $185,000 $1,156 2.28%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Patriot Community Bank 237 Lexington St Woburn, MA 1801 Full Service B&M $180,696

    For 2021, Patriot Community Bank had 1 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $6,714
    Net interest income $5,236
    Total noninterest income $2,752
    Gross Fiduciary activities income $1
    Service charges on deposit accounts $17
    Trading account gains and fees $0
    Additional Noninterest Income $2,734
    Pre-tax net operating income $3,267
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,328
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,328
    Minority interest net income $0
    Net income $2,328
    Sale, conversion, retirement of capital stock, net $138
    Net operating income $2,328

    Patriot Community Bank's gross interest income from loans was $6,714,000.
    Patriot Community Bank's net interest income from loans was $5,236,000.
    Patriot Community Bank's fee based income from loans was $17,000.
    Patriot Community Bank's net income from loans was $2,328,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,478
    Provision for credit losses $225
    Total noninterest expense $4,496
    Salaries and employee benefits $3,021
    Premises and equipment expense $356
    Additional noninterest expense $1,119
    Applicable income taxes $939
    Net charge-offs $0
    Cash dividends $0

    Patriot Community Bank's interest expense for loans was $1,478,000.
    Patriot Community Bank's payroll and benefits expense were $3,021,000.
    Patriot Community Bank's property, plant and equipment expenses $356,000.

    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 2.0%
    HELOC loans 10.0%
    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 $175,618
    Deposits held in domestic offices $175,618
    Deposits by Individuals, partnerships, and corporations $175,619
    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 $46,290
    Demand deposits $31,722
    Nontransaction accounts $129,329
    Money market deposit accounts (MMDAs) $27,061
    Other savings deposits (excluding MMDAs) $6,354
    Total time deposits $95,914
    Total time and savings deposits $143,897
    Noninterest-bearing deposits $31,722
    Interest-bearing deposits $143,896
    Retail deposits $148,912
    IRAs and Keogh plan accounts $8,505
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $207,627
    Cash & Balances due from depository institutions $72,297
    Interest-bearing balances $71,617
    Total securities $0
    Federal funds sold & reverse repurchase $0
    Net loans and leases $133,668
    Loan and leases loss allowance $1,875
    Trading account assets $0
    Bank premises and fixed assets $57
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $1,605

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $207,627
    Total Liabilities $176,766
    Total deposits $175,618
    Interest-bearing deposits $143,896
    Deposits held in domestic offices $175,618
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,148

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $133,668
    Loan and leases loss allowance $1,875
    Total loans and leases (domestic) $135,543
    All real estate loans $127,426
    Real estate loans in domestic offices $127,426
    Construction and development loans $21,665
    Residential 1-4 family construction $21,665
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $46,745
    Nonfarm nonresidential secured by owner-occupied properties $18,177
    Commercial real estate & other non-farm, non-residential $28,568
    Multifamily residential real estate $16,443
    1-4 family residential loans $42,573
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $8,081
    To non-U.S. addressees $0
    Loans to individuals $37
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $37
    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 $2,190
    Non 1-4 family restructured loans & leases $2,190
    Total loans and leases (foreign) $0

    Patriot Community Bank had $133,668,000 of loans outstanding in 2021. $127,426,000 of loans were in real estate loans. $21,665,000 of loans were in development loans. $16,443,000 of loans were in multifamily mortgage loans. $42,573,000 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 45 $11,622 $258,267
    Nonfarm, nonresidential loans - <$100k 17 $65 $3,824
    Nonfarm, nonresidential loans - $100-250k 6 $998 $166,333
    Nonfarm, nonresidential loans - $250k-1MM 22 $10,559 $479,955
    Commercial & Industrial, US addressed loans - <$1MM 83 $2,671 $32,181
    Commercial & Industrial, US addressed loans - <$100k 66 $358 $5,424
    Commercial & Industrial, US addressed loans - $100-250k 10 $651 $65,100
    Commercial & Industrial, US addressed loans - $250k-1MM 7 $1,662 $237,429