Adams Community Bank Mortgage Rates, Fees & Info

Adams, MA

LEI: 549300J5W91RLNLMTL86

Tax ID: 04-1851620

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

Review & 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 by origination volume include: Pittsfield, Bennington, Springfield, Boston, and Hudson among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Adams 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. Adams 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.

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	6.21%	4/28/24
30 Year Conventional Refi	6.39%	4/28/24
30 Year VA Purchase	6.51%	4/28/24
30 Year USDA Purchase	7.20%	4/28/24
15 Year Conventional Purchase	5.94%	4/28/24
15 Year Conventional Refi	6.03%	4/28/24
15 Year Cash-out Refi	6.03%	4/28/24
15 Year VA Refi	5.68%	4/28/24
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.

Adams Community Bank Mortgage Calculator

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This is not an official calculator from Adams Community 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

677

Origination Dollar Volume (All Markets)

$175,345,000

Employee count

113

Awards

Adams Community Bank 30 Year Conventional Loans gold

Show all (3) 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
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.

Their top states include:

Massachusetts (FHA|USDA|VA)

Vermont (FHA|USDA|VA)

New York (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Similar Lenders

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

VERMONT STATE EMPLOYEES
Similarity Rank: 90

POLISH NATIONAL
Similarity Rank: 192

Adams Community Bank
Similarity Rank: 208

GREYLOCK
Similarity Rank: 210

MountainOne Bank
Similarity Rank: 240

Freedom Credit Union
Similarity Rank: 266

GREATER SPRINGFIELD CREDIT UNION
Similarity Rank: 336

ATHOL CREDIT UNION
Similarity Rank: 368

TrustCo Bank
Similarity Rank: 392

Florence Bank
Similarity Rank: 400

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. 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 2021, Adams Community Bank's most frequently originated type of loan was Conventional, with 656 originations. Their 2nd most popular type was USDA, with 15 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. 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 2021, Adams Community Bank's most frequently cited loan purpose was Home Purchase, with 404 originations. The 2nd most popular reason was 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 2021, Adams Community Bank's most frequently cited loan duration was 30 Year, with 447 originations. The 2nd most popular length was 15 Year, with 87 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	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

Adams Community Bank's average total fees were $3,043, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.32%, while their most frequently originated rate bucket for loans was 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
86.77%

Adams Community Bank has an average approval rate.

Pick Rate

Approvals leading to origination
73.56%

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