Mansfield Co-operative Bank Mortgage Rates, Fees & Info
Mansfield, MALEI: 549300GQIEUOHONU7I52
Tax ID: 04-1578690
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Mortgage Data
Bank Data
Review & Overview
Mansfield Co-operative Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Mansfield Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Providence, Boston, Barnstable Town, and Worcester among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Mansfield Co-operative 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.
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Originations
146Origination Dollar Volume (All Markets)
$53,270,000Employee count
85Top 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 |
|---|---|---|---|---|---|
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 85 | $25,935,000 | $305,118 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 53 | $24,945,000 | $470,660 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 6 | $1,830,000 | $305,000 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 146 | $53,270,000 | $364,863 | $0 | 0.00% |
For 2018, Mansfield Co-operative Bank's most frequently originated type of loan was Conventional, with 146 originations.
Loan Reason
For 2018, Mansfield Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 70 originations. The 2nd most popular reason was Cash Out Refi, with 42 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 146 | $53,270,000 | $364,863 | $0 | 0.00% |
For 2018, Mansfield Co-operative Bank's most frequently cited loan duration was Other, with 146 originations.
Loan Sizing
2018 saw Mansfield Co-operative Bank place emphasis on $200k-400k loans with 69 originations, totaling $19,745,000 in origination value.
Applicant Income
Mansfield Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 38 originations. The second most popular income band? $100k-150k, with 31 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 146 | $53,270,000 | $364,863 | $0 | 0.00% |
Mansfield Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 146 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.19%
Mansfield Co-operative 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 origination92.47%
Mansfield Co-operative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 146 | $53,270,000 | $364,863 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 5 | $6,905,000 | $1,381,000 |
| Single Family (1-4 Units):Site-Built | 141 | $46,365,000 | $328,830 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Mansfield Co-operative Bank | 225 West Main Street Norton, MA 2766 | Full Service B&M | $77,854 |
| Mansfield Co-operative Bank | 3 Taunton Street Plainville, MA 2762 | Full Service B&M | $59,497 |
| Mansfield Co-operative Bank | 728 West Center Street West Bridgewater, MA 2379 | Full Service B&M | $36,583 |
| Mansfield Co-operative Bank | 73 Belmont Street South Easton, MA 2375 | Full Service B&M | $22,018 |
| Mansfield Co-operative Bank | 80 North Main Street Mansfield, MA 2048 | Full Service B&M | $224,926 |
For 2018, Mansfield Co-operative Bank had 5 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $20,636 |
| Net interest income | $16,485 |
| Total noninterest income | $2,155 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $359 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,796 |
| Pre-tax net operating income | $4,114 |
| Securities gains (or losses, -) | $22 |
| Income before extraordinary items | $3,199 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,199 |
| Minority interest net income | $0 |
| Net income | $3,199 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,181 |
Mansfield Co-operative Bank's gross interest income from loans was $20,636,000.
Mansfield Co-operative Bank's net interest income from loans was $16,485,000.
Mansfield Co-operative Bank's fee based income from loans was $359,000.
Mansfield Co-operative Bank's net income from loans was $3,199,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $4,151 |
| Provision for credit losses | $293 |
| Total noninterest expense | $14,233 |
| Salaries and employee benefits | $9,383 |
| Premises and equipment expense | $1,330 |
| Additional noninterest expense | $3,520 |
| Applicable income taxes | $937 |
| Net charge-offs | $0 |
| Cash dividends | $0 |
Mansfield Co-operative Bank's interest expense for loans was $4,151,000.
Mansfield Co-operative Bank's payroll and benefits expense were $9,383,000.
Mansfield Co-operative Bank's property, plant and equipment expenses $1,330,000.
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 | $418,963 |
| Deposits held in domestic offices | $418,963 |
| Deposits by Individuals, partnerships, and corporations | $356,229 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $54,482 |
| Deposits by Commercial banks and other depository institutions in U.S. | $8,253 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $105,247 |
| Demand deposits | $105,247 |
| Nontransaction accounts | $313,717 |
| Money market deposit accounts (MMDAs) | $120,708 |
| Other savings deposits (excluding MMDAs) | $45,603 |
| Total time deposits | $147,407 |
| Total time and savings deposits | $313,717 |
| Noninterest-bearing deposits | $47,094 |
| Interest-bearing deposits | $371,869 |
| Retail deposits | $374,424 |
| IRAs and Keogh plan accounts | $21,356 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $519,799 |
| Cash & Balances due from depository institutions | $13,141 |
| Interest-bearing balances | $9,285 |
| Total securities | $50,061 |
| Federal funds sold & reverse repurchase | $434 |
| Net loans and leases | $430,538 |
| Loan and leases loss allowance | $4,594 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,551 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $698 |
| All other assets | $20,376 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $519,799 |
| Total Liabilities | $467,008 |
| Total deposits | $418,963 |
| Interest-bearing deposits | $371,869 |
| Deposits held in domestic offices | $418,963 |
| % insured (estimated) | $76 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $44,153 |
| Subordinated debt | $0 |
| All other liabilities | $3,892 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $430,538 |
| Loan and leases loss allowance | $4,594 |
| Total loans and leases (domestic) | $435,132 |
| All real estate loans | $420,107 |
| Real estate loans in domestic offices | $420,107 |
| Construction and development loans | $44,098 |
| Residential 1-4 family construction | $17,968 |
| Other construction, all land development and other land | $26,130 |
| Loans secured by nonfarm nonresidential properties | $116,006 |
| Nonfarm nonresidential secured by owner-occupied properties | $45,375 |
| Commercial real estate & other non-farm, non-residential | $70,631 |
| Multifamily residential real estate | $47,251 |
| 1-4 family residential loans | $212,752 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $14,890 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $113 |
| Credit card loans | $0 |
| Related Plans | $110 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $3 |
| All other loans & leases | $22 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $22 |
| 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 | $256 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Mansfield Co-operative Bank had $430,538,000 of loans outstanding in 2018. $420,107,000 of loans were in real estate loans. $44,098,000 of loans were in development loans. $47,251,000 of loans were in multifamily mortgage loans. $212,752,000 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 | 98 | $30,488 | $311,102 |
| Nonfarm, nonresidential loans - <$100k | 3 | $209 | $69,667 |
| Nonfarm, nonresidential loans - $100-250k | 37 | $5,057 | $136,676 |
| Nonfarm, nonresidential loans - $250k-1MM | 58 | $25,222 | $434,862 |
| Commercial & Industrial, US addressed loans - <$1MM | 60 | $6,682 | $111,367 |
| Commercial & Industrial, US addressed loans - <$100k | 24 | $598 | $24,917 |
| Commercial & Industrial, US addressed loans - $100-250k | 18 | $1,517 | $84,278 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 18 | $4,567 | $253,722 |