Piscataqua Savings Bank Mortgage Rates, Fees & Info

Portsmouth, NH

LEI: 549300HI3FIGFR7SU483

Tax ID: 02-0179065

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

Review & Overview

Piscataqua Savings Bank is a smaller bank specializing in Refi and Home Purchase loans. Piscataqua Savings Bank has a high proportion of conventional loans. Their top two markets are Boston and Portland .

Piscataqua Savings Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Piscataqua Savings 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.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.18%	11/21/24
30 Year Conventional Refi	6.33%	11/21/24
15 Year Conventional Purchase	5.53%	11/21/24
15 Year Conventional Refi	7.65%	11/21/24
15 Year Cash-out Refi	7.65%	11/21/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Piscataqua Savings Bank Mortgage Calculator

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This is not an official calculator from Piscataqua Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

127

Origination Dollar Volume (All Markets)

$59,955,000

Employee count

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)	86	$41,890,000	$487,093	$3,186	3.09%
PORTLAND-SOUTH PORTLAND, ME (FHA\|USDA\|VA)	41	$18,065,000	$440,610	$3,327	3.13%

Piscataqua Savings Bank's top markets include Boston and Portland among others.

Their top states include:

New Hampshire (FHA|USDA|VA)

Maine (FHA|USDA|VA)

Similar Lenders

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

CUMBERLAND COUNTY
Similarity Rank: 176

TOWN & COUNTRY FEDERAL CREDIT UNION
Similarity Rank: 222

LUSO-AMERICAN CREDIT UNION
Similarity Rank: 258

CASCO
Similarity Rank: 324

Piscataqua Savings Bank
Similarity Rank: 446

Maine Savings Federal Credit Union
Similarity Rank: 476

FIVE COUNTY
Similarity Rank: 484

Kennebec Savings Bank
Similarity Rank: 490

COMMUNITY CREDIT UNION OF LYNN
Similarity Rank: 525

CUSO MORTGAGE CORPORATION
Similarity Rank: 534

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	127	$59,955,000	$472,087	$3,232	3.10%

For 2020, Piscataqua Savings Bank's most frequently originated type of loan was Conventional, with 127 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	88	$38,050,000	$432,386	$2,920	3.07%
Home Purchase	37	$20,725,000	$560,135	$3,866	3.19%
Home Improvement	2	$1,180,000	$590,000	$5,055	3.00%

For 2020, Piscataqua Savings Bank's most frequently cited loan purpose was Refi, with 88 originations. The 2nd most popular reason was Home Purchase, with 37 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	101	$49,975,000	$494,802	$3,247	3.15%
15 Year	14	$3,870,000	$276,429	$2,507	2.87%
30+ year	5	$2,985,000	$597,000	$5,389	3.20%
20 Year	4	$2,320,000	$580,000	$3,256	2.88%
Other	2	$690,000	$345,000	$2,560	2.81%
10 Year	1	$115,000	$115,000	$2,320	3.00%

For 2020, Piscataqua Savings Bank's most frequently cited loan duration was 30 Year, with 101 originations. The 2nd most popular length was 15 Year, with 14 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	90	$37,260,000	$414,000
$1k-2k	35	$22,085,000	$631,000
$2k-3k	1	$505,000	$505,000

Piscataqua Savings Bank's average total fees were $3,247, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 90 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
2.5-3%	70	$33,980,000	$485,429
3-4%	49	$22,255,000	$454,184
<2.5%	7	$3,615,000	$516,429
4-5%	1	$105,000	$105,000

During 2020, Piscataqua Savings Bank's average interest rate for loans was 3.15%, while their most frequently originated rate bucket for loans was 2.5-3%, with 70 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	36	$10,310,000	$286,389	$2,557	3.06%
$600k-1MM	34	$24,330,000	$715,588	$4,103	3.07%
$400k-600k	33	$16,475,000	$499,242	$3,392	3.18%
$100k-200k	17	$2,535,000	$149,118	$2,244	3.15%
$1MM+	4	$6,050,000	$1,512,500	$5,423	2.94%
$100,000 or less	3	$255,000	$85,000	$2,040	3.17%

2020 saw Piscataqua Savings Bank place emphasis on $200k-400k loans with 36 originations, totaling $10,310,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$150k-250k	44	$19,520,000	$443,636	$3,195	3.12%
$250k+	38	$27,690,000	$728,684	$3,974	3.05%
$100k-150k	20	$7,380,000	$369,000	$2,854	3.09%
$50k or less	8	$1,050,000	$131,250	$2,238	3.25%
$75k-100k	8	$2,750,000	$343,750	$2,864	3.19%
$50k-75k	7	$1,075,000	$153,571	$2,173	3.02%

Piscataqua Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 44 originations. The second most popular income band? $250k+, with 38 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	45	$20,535,000	$456,333	$3,359	3.14%
30-36%	19	$7,345,000	$386,579	$2,750	3.07%
<20%	19	$9,975,000	$525,000	$3,240	3.03%
39%	10	$5,520,000	$552,000	$3,343	3.10%
50-60%	7	$2,975,000	$425,000	$2,913	3.07%
41%	4	$2,440,000	$610,000	$3,530	3.00%
40%	4	$3,840,000	$960,000	$4,689	3.16%
45%	4	$1,580,000	$395,000	$3,487	3.09%
44%	2	$400,000	$200,000	$2,261	3.44%
38%	2	$1,000,000	$500,000	$3,190	2.75%
42%	2	$790,000	$395,000	$3,032	3.25%
43%	2	$510,000	$255,000	$2,501	3.19%
48%	2	$1,030,000	$515,000	$3,615	3.38%
37%	1	$155,000	$155,000	$2,506	3.00%
49%	1	$885,000	$885,000	$3,865	2.50%
46%	1	$485,000	$485,000	$3,633	3.50%

Piscataqua Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 45 originations. The next most common DTI ratio? 30-36%, with 19 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	93	$42,965,000	$461,989	$3,262	3.10%
Not provided	33	$16,725,000	$506,818	$3,183	3.10%
Asian	1	$265,000	$265,000	$2,055	3.38%

Approval Rates

Total approvals of all applications
93.79%

Piscataqua Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
87.40%

Piscataqua Savings Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	127	$59,955,000	$472,087

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Single Family (1-4 Units):Site-Built	127	$59,955,000	$472,087

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	18	$4,950,000	$275,000	$2,605	3.02%
40-60%	38	$15,740,000	$414,211	$2,908	3.08%
60-80%	48	$26,070,000	$543,125	$3,429	3.16%
80-100%	20	$12,870,000	$643,500	$4,075	3.09%
Under 20%	3	$325,000	$108,333	$2,107	3.13%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Piscataqua Savings Bank	15 Pleasant Street Portsmouth, NH 3801	Full Service B&M	$258,318

For 2020, Piscataqua Savings Bank had 1 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$8,379
Net interest income	$6,030
Total noninterest income	$2,605
Gross Fiduciary activities income	$2,088
Service charges on deposit accounts	$48
Trading account gains and fees	$0
Additional Noninterest Income	$469
Pre-tax net operating income	$1,286
Securities gains (or losses, -)	$192
Income before extraordinary items	$1,499
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$1,499
Minority interest net income	$0
Net income	$1,499
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$1,307

Piscataqua Savings Bank's gross interest income from loans was $8,379,000.
Piscataqua Savings Bank's net interest income from loans was $6,030,000.
Piscataqua Savings Bank's fee based income from loans was $48,000.
Piscataqua Savings Bank's net income from loans was $1,499,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,349
Provision for credit losses	$-15
Total noninterest expense	$7,364
Salaries and employee benefits	$4,778
Premises and equipment expense	$798
Additional noninterest expense	$1,788
Applicable income taxes	$-21
Net charge-offs	$0
Cash dividends	$0

Piscataqua Savings Bank's interest expense for loans was $2,349,000.
Piscataqua Savings Bank's payroll and benefits expense were $4,778,000.
Piscataqua Savings Bank's property, plant and equipment expenses $798,000.

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	4.0%
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	$280,477
Deposits held in domestic offices	$280,477
Deposits by Individuals, partnerships, and corporations	$280,050
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$427
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	$68,386
Demand deposits	$7,428
Nontransaction accounts	$212,091
Money market deposit accounts (MMDAs)	$75,864
Other savings deposits (excluding MMDAs)	$39,804
Total time deposits	$96,423
Total time and savings deposits	$273,049
Noninterest-bearing deposits	$7,428
Interest-bearing deposits	$273,049
Retail deposits	$261,185
IRAs and Keogh plan accounts	$17,253
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$330,240
Cash & Balances due from depository institutions	$29,674
Interest-bearing balances	$28,798
Total securities	$93,719
Federal funds sold & reverse repurchase	$0
Net loans and leases	$187,871
Loan and leases loss allowance	$1,621
Trading account assets	$0
Bank premises and fixed assets	$8,283
Other real estate owned	$0
Goodwill and other intangibles	$61
All other assets	$10,632

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$330,240
Total Liabilities	$282,912
Total deposits	$280,477
Interest-bearing deposits	$273,049
Deposits held in domestic offices	$280,477
% insured (estimated)	$86
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$2,435

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$187,871
Loan and leases loss allowance	$1,621
Total loans and leases (domestic)	$189,492
All real estate loans	$187,426
Real estate loans in domestic offices	$187,426
Construction and development loans	$2,135
Residential 1-4 family construction	$2,135
Other construction, all land development and other land	$0
Loans secured by nonfarm nonresidential properties	$0
Nonfarm nonresidential secured by owner-occupied properties	$0
Commercial real estate & other non-farm, non-residential	$0
Multifamily residential real estate	$0
1-4 family residential loans	$185,291
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$0
To non-U.S. addressees	$0
Loans to individuals	$1,029
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$0
Other loans to individuals	$1,029
All other loans & leases	$1,037
Loans to foreign governments and official institutions	$0
Other loans	$1,037
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

Piscataqua Savings Bank had $187,871,000 of loans outstanding in 2020. $187,426,000 of loans were in real estate loans. $2,135,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $185,291,000 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