Maine Community Bank Mortgage Rates, Fees & Info
Biddeford, MELEI: 549300HK8HC6F50IC896
Tax ID: 01-0029610
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Mortgage Data
Bank Data
Review & Overview
Maine Community Bank is a smaller bank specializing in Refi, Home Purchase, and Cash Out Refi loans. Maine Community Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Portland, Lewiston, Augusta, and Bangor among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)Maine Community Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.
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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.57% | 4/21/24 |
| 30 Year Conventional Refi | 6.62% | 4/21/24 |
| 30 Year Cash-out Refi | 6.78% | 4/21/24 |
| 30 Year USDA Purchase | 6.56% | 4/21/24 |
| 15 Year Conventional Purchase | 6.28% | 4/21/24 |
| 15 Year Conventional Refi | 6.33% | 4/21/24 |
| 15 Year Cash-out Refi | 6.33% | 4/21/24 |
| 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. | ||
Maine Community Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
532Origination Dollar Volume (All Markets)
$126,560,000Employee count
156Top 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 |
|---|---|---|---|---|---|
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 373 | $96,055,000 | $257,520 | $0 | 0.00% |
| LEWISTON-AUBURN, ME (FHA|USDA|VA) | 107 | $19,935,000 | $186,308 | $0 | 0.00% |
| Augusta-Waterville, ME (FHA|USDA|VA) | 25 | $5,695,000 | $227,800 | $0 | 0.00% |
| Outside of Metro Areas | 25 | $4,625,000 | $185,000 | $0 | 0.00% |
| BANGOR, ME (FHA|USDA|VA) | 2 | $250,000 | $125,000 | $0 | 0.00% |
Similar Lenders
We use machine learning to identify the top lenders compared against Maine Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 60
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 529 | $125,905,000 | $238,006 | $0 | 0.00% |
| USDA | 3 | $655,000 | $218,333 | $0 | 0.00% |
For 2020, Maine Community Bank's most frequently originated type of loan was Conventional, with 529 originations. Their 2nd most popular type was USDA, with 3 originations.
Loan Reason
For 2020, Maine Community Bank's most frequently cited loan purpose was Refi, with 194 originations. The 2nd most popular reason was Home Purchase, with 170 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 532 | $126,560,000 | $237,895 | $0 | 0.00% |
For 2020, Maine Community Bank's most frequently cited loan duration was Other, with 532 originations.
Loan Sizing
2020 saw Maine Community Bank place emphasis on $200k-400k loans with 216 originations, totaling $57,430,000 in origination value.
Applicant Income
Maine Community Bank lent most frequently to those with incomes in the $100k-150k range, with 127 originations. The second most popular income band? $150k-250k, with 100 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 532 | $126,560,000 | $237,895 | $0 | 0.00% |
Maine Community Bank lent most frequently to those with DTI ratios of Exempt%, with 532 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications86.40%
Maine Community Bank has an average approval rate.
Pick Rate
Approvals leading to origination78.20%
Maine Community Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 532 | $126,560,000 | $237,895 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 10 | $8,830,000 | $883,000 |
| Single Family (1-4 Units):Site-Built | 522 | $117,730,000 | $225,536 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Maine Community Bank | 100 Minot Avenue Auburn, ME 4210 | Full Service B&M | $186,744 |
| Maine Community Bank | 16 Station Ave, Ste 103 Brunswick, ME 4011 | Full Service B&M | $23,055 |
| Maine Community Bank | 206 Us Route One Scarborough, ME 4074 | Full Service B&M | $50,681 |
| Maine Community Bank | 234 Main Street Biddeford, ME 4005 | Full Service B&M | $0 |
| Maine Community Bank | 254 Main Street Biddeford, ME 4005 | Full Service B&M | $261,696 |
| Maine Community Bank | 3 Drive-In Lane Windham, ME 4062 | Full Service B&M | $23,106 |
| Maine Community Bank | 473 Alfred Street Biddeford, ME 4005 | Full Service B&M | $102,579 |
| Maine Community Bank | 65 Portland Road Kennebunk, ME 4043 | Full Service B&M | $39,770 |
| Maine Community Bank | 664 Main Street Lewiston, ME 4240 | Full Service B&M | $57,277 |
| Maine Community Bank | 846 Main Street Waterboro, ME 4087 | Full Service B&M | $56,763 |
For 2020, Maine Community Bank had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $39,513 |
| Net interest income | $33,300 |
| Total noninterest income | $2,648 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $297 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,351 |
| Pre-tax net operating income | $11,160 |
| Securities gains (or losses, -) | $320 |
| Income before extraordinary items | $9,246 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $9,246 |
| Minority interest net income | $0 |
| Net income | $9,246 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $8,986 |
Maine Community Bank's gross interest income from loans was $39,513,000.
Maine Community Bank's net interest income from loans was $33,300,000.
Maine Community Bank's fee based income from loans was $297,000.
Maine Community Bank's net income from loans was $9,246,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $6,213 |
| Provision for credit losses | $1,860 |
| Total noninterest expense | $22,928 |
| Salaries and employee benefits | $12,974 |
| Premises and equipment expense | $2,519 |
| Additional noninterest expense | $7,435 |
| Applicable income taxes | $2,234 |
| Net charge-offs | $7 |
| Cash dividends | $400 |
Maine Community Bank's interest expense for loans was $6,213,000.
Maine Community Bank's payroll and benefits expense were $12,974,000.
Maine Community Bank's property, plant and equipment expenses $2,519,000.
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 | $828,917 |
| Deposits held in domestic offices | $828,917 |
| Deposits by Individuals, partnerships, and corporations | $770,631 |
| Deposits by U.S. Government | $39 |
| Deposits by States and political subdivisions in the U.S. | $40,451 |
| Deposits by Commercial banks and other depository institutions in U.S. | $17,795 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $340,624 |
| Demand deposits | $148,330 |
| Nontransaction accounts | $488,292 |
| Money market deposit accounts (MMDAs) | $150,534 |
| Other savings deposits (excluding MMDAs) | $116,860 |
| Total time deposits | $220,900 |
| Total time and savings deposits | $680,586 |
| Noninterest-bearing deposits | $148,382 |
| Interest-bearing deposits | $680,535 |
| Retail deposits | $742,375 |
| IRAs and Keogh plan accounts | $35,711 |
| Brokered deposits | $68,025 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $977,414 |
| Cash & Balances due from depository institutions | $39,657 |
| Interest-bearing balances | $22,931 |
| Total securities | $76,869 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $823,425 |
| Loan and leases loss allowance | $7,285 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $20,089 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $623 |
| All other assets | $16,751 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $977,414 |
| Total Liabilities | $855,187 |
| Total deposits | $828,917 |
| Interest-bearing deposits | $680,535 |
| Deposits held in domestic offices | $828,917 |
| % insured (estimated) | $76 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $18,832 |
| Subordinated debt | $0 |
| All other liabilities | $7,438 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $823,425 |
| Loan and leases loss allowance | $7,285 |
| Total loans and leases (domestic) | $830,710 |
| All real estate loans | $738,776 |
| Real estate loans in domestic offices | $738,776 |
| Construction and development loans | $31,230 |
| Residential 1-4 family construction | $16,268 |
| Other construction, all land development and other land | $14,962 |
| Loans secured by nonfarm nonresidential properties | $268,096 |
| Nonfarm nonresidential secured by owner-occupied properties | $150,840 |
| Commercial real estate & other non-farm, non-residential | $117,256 |
| Multifamily residential real estate | $28,858 |
| 1-4 family residential loans | $409,115 |
| Farmland loans | $1,477 |
| Loans held in foreign offices | $0 |
| Farm loans | $337 |
| Commercial and industrial loans | $85,511 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $4,492 |
| Credit card loans | $0 |
| Related Plans | $54 |
| Consumer Auto Loans | $1,582 |
| Other loans to individuals | $2,856 |
| All other loans & leases | $3,111 |
| 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 | $5,019 |
| Non 1-4 family restructured loans & leases | $281 |
| Total loans and leases (foreign) | $0 |
Maine Community Bank had $823,425,000 of loans outstanding in 2020. $738,776,000 of loans were in real estate loans. $31,230,000 of loans were in development loans. $28,858,000 of loans were in multifamily mortgage loans. $409,115,000 of loans were in 1-4 family mortgage loans. $337,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,582,000 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 | 543 | $120,685 | $222,256 |
| Nonfarm, nonresidential loans - <$100k | 93 | $4,719 | $50,742 |
| Nonfarm, nonresidential loans - $100-250k | 213 | $29,545 | $138,709 |
| Nonfarm, nonresidential loans - $250k-1MM | 237 | $86,421 | $364,646 |
| Commercial & Industrial, US addressed loans - <$1MM | 837 | $53,956 | $64,464 |
| Commercial & Industrial, US addressed loans - <$100k | 622 | $17,057 | $27,423 |
| Commercial & Industrial, US addressed loans - $100-250k | 142 | $14,469 | $101,894 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 73 | $22,430 | $307,260 |
| Farmland loans - <$1MM | 1 | $327 | $327,000 |
| Farmland loans - $250k-1MM | 1 | $327 | $327,000 |
| Agriculture operations loans - <$1MM | 2 | $335 | $167,500 |
| Agriculture operations loans - <$100k | 1 | $6 | $6,000 |
| Agriculture operations loans - $250k-1MM | 1 | $329 | $329,000 |