Adams Community Bank Mortgage Rates, Fees & Info

Adams, MA

LEI: 549300J5W91RLNLMTL86

Tax ID: 04-1851620

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Adams Community Bank is a smaller bank specializing in Home Purchase and Refi loans. Adams Community Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Pittsfield, Bennington, Springfield, Boston, and Hudson among others. Adams Community Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Adams Community Bank is typically a low fee lendor.


Originations

677

Origination Dollar Volume (All Markets)

$175,345,000

Employee count

113

Awards

Adams Community Bank 30 Year Conventional Loans gold Adams Community Bank USDA Loans gold Adams Community Bank USDA Loans gold
Show all (3) awards

Relative Rate

Adams Community Bank's average 30 year fixed rate mortgage of loans were 3.32%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.17%.

Relative Fees

Adams Community Bank's average total fees for a 30 year fixed rate mortgage are $3,043.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
PITTSFIELD, MA (FHA|USDA|VA) 642 $167,670,000 $261,168 $2,781 3.30%
Bennington, VT (FHA|USDA|VA) 18 $2,910,000 $161,667 $2,992 3.14%
SPRINGFIELD, MA (FHA|USDA|VA) 7 $1,545,000 $220,714 $2,679 3.70%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 3 $1,285,000 $428,333 $2,200 2.96%
Outside of Metro Areas 3 $1,245,000 $415,000 $4,024 3.17%
Hudson, NY (FHA|USDA|VA) 2 $430,000 $215,000 $4,643 3.69%
Rutland, VT (FHA|USDA|VA) 1 $175,000 $175,000 $4,566 2.50%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $85,000 $85,000 $2,390 2.88%

Adams Community Bank's top markets include Pittsfield, Bennington, Springfield, Boston, and Hudson among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 656 $171,240,000 $261,037 $2,750 3.30%
USDA 15 $2,785,000 $185,667 $4,437 3.38%
VA 6 $1,320,000 $220,000 $3,298 3.29%

For the 2021 period, Adams Community Bank's most frequently originated loan type of loans were Conventional, with 656 originations. Their 2nd most popular type is USDA, with 15 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 404 $118,610,000 $293,589 $3,093 3.33%
Refi 247 $53,585,000 $216,943 $2,489 3.19%
Home Improvement 16 $1,300,000 $81,250 $645 4.24%
Other 10 $1,850,000 $185,000 $1,711 3.46%

For the 2021, Adams Community Bank's most frequently cited loan purpose of loans were Home Purchase, with 404 originations. The 2nd most popular reason of loans were Refi, with 247 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 447 $118,395,000 $264,866 $3,043 3.32%
15 Year 87 $14,015,000 $161,092 $2,068 3.23%
20 Year 57 $10,475,000 $183,772 $2,557 3.52%
30+ year 32 $16,780,000 $524,375 $2,585 3.29%
Other 29 $10,025,000 $345,690 $2,280 3.09%
10 Year 23 $4,745,000 $206,304 $1,914 2.89%
1 Year 2 $910,000 $455,000 $0 4.25%

For the 2021, Adams Community Bank's most frequently cited loan length of loans were 30 Year, with 447 originations. The 2nd most popular length of loans were 15 Year, with 87 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 592 $156,940,000 $265,101
$1k-2k 1 $145,000 $145,000
$2k-3k 1 $285,000 $285,000

$3,043 of loans were Adams Community Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 592 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 422 $115,970,000 $274,810
2.5-3% 177 $44,745,000 $252,797
4-5% 43 $8,375,000 $194,767
<2.5% 34 $6,210,000 $182,647
5-6% 1 $45,000 $45,000

During 2021, Adams Community Bank's average interest rate of loans were 3.32%, while their most frequently originated rate bucket of loans were 3-4%, with 422 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 277 $41,965,000 $151,498 $2,486 3.29%
$200k-400k 236 $63,750,000 $270,127 $2,985 3.25%
$400k-600k 66 $30,980,000 $469,394 $3,554 3.20%
$100,000 or less 63 $4,205,000 $66,746 $1,664 3.60%
$600k-1MM 23 $15,935,000 $692,826 $3,686 3.23%
$1MM+ 12 $18,510,000 $1,542,500 $4,840 3.48%

2021 saw Adams Community Bank place emphasis on $100k-200k loans with 277 originations, totaling $41,965,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 155 $36,115,000 $233,000 $2,773 3.27%
$50k-75k 131 $22,745,000 $173,626 $2,554 3.28%
$75k-100k 109 $23,885,000 $219,128 $2,793 3.23%
$50k or less 101 $13,175,000 $130,446 $2,379 3.40%
$150k-250k 99 $34,395,000 $347,424 $3,105 3.24%
$250k+ 62 $36,690,000 $591,774 $3,504 3.22%

Adams Community Bank lent most frequently to those with incomes in the $100k-150k range, with 155 originations. The second most popular income band? $50k-75k, with 131 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 170 $41,880,000 $246,353 $2,644 3.19%
30-36% 123 $34,435,000 $279,959 $2,890 3.28%
<20% 93 $28,245,000 $303,710 $2,915 3.24%
42% 25 $4,315,000 $172,600 $2,414 3.36%
36% 22 $5,110,000 $232,273 $2,932 3.15%
43% 22 $6,270,000 $285,000 $2,625 3.41%
39% 21 $5,195,000 $247,381 $3,133 3.38%
50-60% 21 $6,015,000 $286,429 $3,193 3.11%
37% 20 $4,150,000 $207,500 $2,527 3.34%
47% 18 $4,520,000 $251,111 $3,133 3.50%
41% 18 $4,140,000 $230,000 $2,680 3.27%
38% 17 $3,345,000 $196,765 $2,901 3.40%
40% 15 $3,385,000 $225,667 $2,344 3.18%
46% 15 $3,395,000 $226,333 $3,083 3.46%
48% 13 $2,915,000 $224,231 $2,595 3.15%
44% 10 $2,150,000 $215,000 $2,370 3.38%
45% 10 $2,100,000 $210,000 $2,956 3.36%
49% 9 $3,685,000 $409,444 $3,451 3.26%
>60% 8 $1,550,000 $193,750 $2,723 2.95%

Adams Community Bank lent most frequently to those with DTI ratios of 20-30%, with 170 originations. The next most common DTI ratio? 30-36%, with 123 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 567 $143,875,000 $253,748 $2,775 3.26%
Not provided 76 $20,760,000 $273,158 $2,918 3.40%
Not applicable 14 $6,770,000 $483,571 $0 4.14%
Black 12 $2,270,000 $189,167 $3,193 3.30%
Asian 7 $1,065,000 $152,143 $2,529 3.59%
American Indian 1 $605,000 $605,000 $4,194 3.25%

Approval Rates

Total approvals of all applications
85.56%

Adams Community Bank has an average approval rate.

Pick Rate

Approvals leading to origination
74.86%

Adams Community Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 677 $175,345,000 $259,003

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
677 $175,345,000 $259,003

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 33 $4,205,000 $127,424 $2,018 3.16%
40-60% 80 $17,320,000 $216,500 $2,530 3.08%
60-80% 289 $81,625,000 $282,439 $2,938 3.31%
80-100% 259 $71,025,000 $274,228 $2,982 3.33%
Under 20% 16 $1,170,000 $73,125 $728 3.89%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Adams Community Bank 2 Center St Adams, MA 1220 Full Service B&M $164,146
Adams Community Bank 273 Main Street Williamstown, MA 1267 Full Service B&M $96,552
Adams Community Bank 31 Eagle Street North Adams, MA 1247 Full Service B&M $71,190
Adams Community Bank 41 Park Street Lee, MA 1238 Full Service B&M $44,427
Adams Community Bank 545 South Main Street Lanesboro, MA 1237 Full Service B&M $59,558
Adams Community Bank 7 Main Street Lenox, MA 1240 Full Service B&M $71,185
Adams Community Bank 75 South St Cheshire, MA 1225 Full Service B&M $55,226
Adams Community Bank 93 Park Street Adams, MA 1220 Full Service B&M $174,805

For 2021, Adams Community Bank had 8 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $25,728
Net interest income $21,510
Total noninterest income $2,892
Gross Fiduciary activities income $0
Service charges on deposit accounts $659
Trading account gains and fees $0
Additional Noninterest Income $2,233
Pre-tax net operating income $5,507
Securities gains (or losses, -) $0
Income before extraordinary items $4,166
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $4,166
Minority interest net income $0
Net income $4,166
Sale, conversion, retirement of capital stock, net $0
Net operating income $4,166

Adams Community Bank's gross interest income from loans was $25,728,000.
Adams Community Bank's net interest income from loans was $21,510,000.
Adams Community Bank's fee based income from loans was $659,000.
Adams Community Bank's net income from loans was $4,166,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $4,218
Provision for credit losses $719
Total noninterest expense $18,176
Salaries and employee benefits $10,597
Premises and equipment expense $1,792
Additional noninterest expense $5,787
Applicable income taxes $1,341
Net charge-offs $868
Cash dividends $0

Adams Community Bank's interest expense for loans was $4,218,000.
Adams Community Bank's payroll and benefits expense were $10,597,000.
Adams Community Bank's property, plant and equipment expenses $1,792,000.

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 $795,640
Deposits held in domestic offices $795,640
Deposits by Individuals, partnerships, and corporations $532,502
Deposits by U.S. Government $2
Deposits by States and political subdivisions in the U.S. $263,136
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 $210,089
Demand deposits $137,509
Nontransaction accounts $585,551
Money market deposit accounts (MMDAs) $344,904
Other savings deposits (excluding MMDAs) $148,882
Total time deposits $91,767
Total time and savings deposits $658,131
Noninterest-bearing deposits $124,848
Interest-bearing deposits $670,792
Retail deposits $779,712
IRAs and Keogh plan accounts $30,009
Brokered deposits $1,088
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $890,706
Cash & Balances due from depository institutions $53,063
Interest-bearing balances $45,140
Total securities $134,721
Federal funds sold & reverse repurchase $151
Net loans and leases $663,373
Loan and leases loss allowance $4,784
Trading account assets $0
Bank premises and fixed assets $7,995
Other real estate owned $417
Goodwill and other intangibles $8,039
All other assets $22,947

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $890,706
Total Liabilities $823,265
Total deposits $795,640
Interest-bearing deposits $670,792
Deposits held in domestic offices $795,640
% insured (estimated) $56
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $23,500
Subordinated debt $0
All other liabilities $4,125

Issued Loan Types

Type Value (in 000's)
Net loans and leases $663,373
Loan and leases loss allowance $4,784
Total loans and leases (domestic) $668,157
All real estate loans $644,346
Real estate loans in domestic offices $644,346
Construction and development loans $18,375
Residential 1-4 family construction $11,658
Other construction, all land development and other land $6,717
Loans secured by nonfarm nonresidential properties $56,237
Nonfarm nonresidential secured by owner-occupied properties $15,360
Commercial real estate & other non-farm, non-residential $40,877
Multifamily residential real estate $13,605
1-4 family residential loans $556,095
Farmland loans $34
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $14,910
To non-U.S. addressees $0
Loans to individuals $8,404
Credit card loans $0
Related Plans $92
Consumer Auto Loans $5,483
Other loans to individuals $2,829
All other loans & leases $497
Loans to foreign governments and official institutions $0
Other loans $497
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $13
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $648
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Adams Community Bank had $663,373,000 of loans outstanding in 2021. $644,346,000 of loans were in real estate loans. $18,375,000 of loans were in development loans. $13,605,000 of loans were in multifamily mortgage loans. $556,095,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $5,483,000 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 142 $56,237 $396,035
Nonfarm, nonresidential loans - <$100k 26 $1,292 $49,692
Nonfarm, nonresidential loans - $100-250k 45 $5,126 $113,911
Nonfarm, nonresidential loans - $250k-1MM 71 $49,819 $701,676
Commercial & Industrial, US addressed loans - <$1MM 271 $14,901 $54,985
Commercial & Industrial, US addressed loans - <$100k 196 $5,033 $25,679
Commercial & Industrial, US addressed loans - $100-250k 52 $4,779 $91,904
Commercial & Industrial, US addressed loans - $250k-1MM 23 $5,089 $221,261
Farmland loans - <$1MM 1 $34 $34,000
Farmland loans - <$100k 1 $34 $34,000