Newburyport Five Cents Savings Bank Mortgage Rates, Fees & Info

Newburyport, MA

LEI: 549300JXG84BHZE66C26

Tax ID: 04-1669070

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Newburyport Five Cents Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Newburyport Five Cents Savings Bank has a high proportion of conventional loans. Their top markets include Boston, Portland, Laconia, Manchester, and Vineyard Haven among others. Newburyport Five Cents Savings Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

396

Origination Dollar Volume (All Markets)

$264,310,000

Employee count

180

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 358 $239,430,000 $668,799 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 14 $7,940,000 $567,143 $0 0.00%
Laconia, NH (FHA|USDA|VA) 3 $5,205,000 $1,735,000 $0 0.00%
Outside of Metro Areas 6 $3,760,000 $626,667 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 7 $3,385,000 $483,571 $0 0.00%
Vineyard Haven, MA (FHA|USDA|VA) 1 $1,835,000 $1,835,000 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $955,000 $955,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 2 $790,000 $395,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Berlin, NH (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Barre, VT (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%

Newburyport Five Cents Savings Bank's top markets include Boston, Portland, Laconia, Manchester, and Vineyard Haven among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 396 $264,310,000 $667,449 $0 0.00%

For the 2021 period, Newburyport Five Cents Savings Bank's most frequently originated loan type of loans were Conventional, with 396 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 160 $114,080,000 $713,000 $0 0.00%
Refi 112 $90,890,000 $811,518 $0 0.00%
Cash Out Refi 104 $45,860,000 $440,962 $0 0.00%
Other 13 $4,005,000 $308,077 $0 0.00%
Home Improvement 7 $9,475,000 $1,353,571 $0 0.00%

For the 2021, Newburyport Five Cents Savings Bank's most frequently cited loan purpose of loans were Home Purchase, with 160 originations. The 2nd most popular reason of loans were Refi, with 112 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 396 $264,310,000 $667,449 $0 0.00%

For the 2021, Newburyport Five Cents Savings Bank's most frequently cited loan length of loans were Other, with 396 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 147 $43,075,000 $293,027 $0 0.00%
$400k-600k 93 $44,275,000 $476,075 $0 0.00%
$600k-1MM 60 $45,390,000 $756,500 $0 0.00%
$100k-200k 48 $7,140,000 $148,750 $0 0.00%
$1MM+ 44 $124,140,000 $2,821,364 $0 0.00%
$100,000 or less 4 $290,000 $72,500 $0 0.00%

2021 saw Newburyport Five Cents Savings Bank place emphasis on $200k-400k loans with 147 originations, totaling $43,075,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 86 $40,850,000 $475,000 $0 0.00%
$250k+ 85 $59,065,000 $694,882 $0 0.00%
$100k-150k 75 $26,865,000 $358,200 $0 0.00%
$75k-100k 39 $10,625,000 $272,436 $0 0.00%
$50k-75k 27 $5,885,000 $217,963 $0 0.00%
$50k or less 6 $1,550,000 $258,333 $0 0.00%

Newburyport Five Cents Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 86 originations. The second most popular income band? $250k+, with 85 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 396 $264,310,000 $667,449 $0 0.00%

Newburyport Five Cents Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 396 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 301 $133,365,000 $443,073 $0 0.00%
Not applicable 77 $119,225,000 $1,548,377 $0 0.00%
Not provided 14 $7,080,000 $505,714 $0 0.00%
Asian 2 $4,150,000 $2,075,000 $0 0.00%
Native Hawaiian 1 $255,000 $255,000 $0 0.00%
Black 1 $235,000 $235,000 $0 0.00%

Approval Rates

Total approvals of all applications
92.00%

Newburyport Five Cents Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
83.52%

Newburyport Five Cents Savings Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 396 $264,310,000 $667,449

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
396 $264,310,000 $667,449

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Newburyport Five Cents Savings Bank 1390b Lafayette Road Portsmouth, NH 3801 Full Service B&M $66,112
Newburyport Five Cents Savings Bank 21 Storey Avenue Newburyport, MA 1950 Full Service B&M $85,162
Newburyport Five Cents Savings Bank 254 State Street Portsmouth, NH 3801 Full Service B&M $26,080
Newburyport Five Cents Savings Bank 27 High Road Newbury, MA 1951 Full Service B&M $82,325
Newburyport Five Cents Savings Bank 321 Lafayette Road Hampton, NH 3842 Full Service B&M $13,373
Newburyport Five Cents Savings Bank 40 Friend Street Amesbury, MA 1913 Full Service B&M $58,802
Newburyport Five Cents Savings Bank 43 Main St Amesbury, MA 1913 Limited, Drive-thru $0
Newburyport Five Cents Savings Bank 63 State St Newburyport, MA 1950 Full Service B&M $594,542
Newburyport Five Cents Savings Bank 836 Central Avenue Dover, NH 3820 Full Service B&M $18,427
Newburyport Five Cents Savings Bank 85 Storey Avenue Newburyport, MA 1950 Limited, Mobile/Seasonal Office $683
Newburyport Five Cents Savings Bank Merrill Street And Route 110 Salisbury, MA 1952 Full Service B&M $88,124
Newburyport Five Cents Savings Bank 141 Portsmouth Avenue Exeter, NH 3833 Full Service B&M $12,523

For 2021, Newburyport Five Cents Savings Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $44,288
Net interest income $41,025
Total noninterest income $3,337
Gross Fiduciary activities income $0
Service charges on deposit accounts $262
Trading account gains and fees $0
Additional Noninterest Income $3,075
Pre-tax net operating income $7,263
Securities gains (or losses, -) $708
Income before extraordinary items $6,239
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $6,239
Minority interest net income $0
Net income $6,239
Sale, conversion, retirement of capital stock, net $0
Net operating income $5,679

Newburyport Five Cents Savings Bank's gross interest income from loans was $44,288,000.
Newburyport Five Cents Savings Bank's net interest income from loans was $41,025,000.
Newburyport Five Cents Savings Bank's fee based income from loans was $262,000.
Newburyport Five Cents Savings Bank's net income from loans was $6,239,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,263
Provision for credit losses $1,180
Total noninterest expense $35,919
Salaries and employee benefits $23,217
Premises and equipment expense $3,886
Additional noninterest expense $8,816
Applicable income taxes $1,732
Net charge-offs $1,098
Cash dividends $5,894

Newburyport Five Cents Savings Bank's interest expense for loans was $3,263,000.
Newburyport Five Cents Savings Bank's payroll and benefits expense were $23,217,000.
Newburyport Five Cents Savings Bank's property, plant and equipment expenses $3,886,000.

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 $1,089,827
Deposits held in domestic offices $1,089,827
Deposits by Individuals, partnerships, and corporations $873,698
Deposits by U.S. Government $14
Deposits by States and political subdivisions in the U.S. $177,999
Deposits by Commercial banks and other depository institutions in U.S. $38,116
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $334,614
Demand deposits $200,347
Nontransaction accounts $755,213
Money market deposit accounts (MMDAs) $419,310
Other savings deposits (excluding MMDAs) $133,525
Total time deposits $202,379
Total time and savings deposits $889,480
Noninterest-bearing deposits $200,347
Interest-bearing deposits $889,480
Retail deposits $977,571
IRAs and Keogh plan accounts $22,565
Brokered deposits $90,282
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,286,414
Cash & Balances due from depository institutions $38,452
Interest-bearing balances $31,698
Total securities $140,522
Federal funds sold & reverse repurchase $0
Net loans and leases $1,055,016
Loan and leases loss allowance $12,472
Trading account assets $2,592
Bank premises and fixed assets $19,293
Other real estate owned $0
Goodwill and other intangibles $773
All other assets $29,766

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,286,414
Total Liabilities $1,149,459
Total deposits $1,089,827
Interest-bearing deposits $889,480
Deposits held in domestic offices $1,089,827
% insured (estimated) $65
Federal funds purchased and repurchase agreements $0
Trading liabilities $2,592
Other borrowed funds $40,168
Subordinated debt $0
All other liabilities $16,872

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,055,016
Loan and leases loss allowance $12,472
Total loans and leases (domestic) $1,067,488
All real estate loans $874,773
Real estate loans in domestic offices $874,773
Construction and development loans $126,078
Residential 1-4 family construction $26,632
Other construction, all land development and other land $99,446
Loans secured by nonfarm nonresidential properties $315,257
Nonfarm nonresidential secured by owner-occupied properties $165,222
Commercial real estate & other non-farm, non-residential $150,035
Multifamily residential real estate $90,013
1-4 family residential loans $342,651
Farmland loans $774
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $104,632
To non-U.S. addressees $0
Loans to individuals $40,032
Credit card loans $0
Related Plans $506
Consumer Auto Loans $2,046
Other loans to individuals $37,480
All other loans & leases $48,051
Loans to foreign governments and official institutions $0
Other loans $98
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $1,106
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

Newburyport Five Cents Savings Bank had $1,055,016,000 of loans outstanding in 2021. $874,773,000 of loans were in real estate loans. $126,078,000 of loans were in development loans. $90,013,000 of loans were in multifamily mortgage loans. $342,651,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,046,000 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 274 $86,192 $314,569
Nonfarm, nonresidential loans - <$100k 30 $1,181 $39,367
Nonfarm, nonresidential loans - $100-250k 51 $6,822 $133,765
Nonfarm, nonresidential loans - $250k-1MM 193 $78,189 $405,124
Commercial & Industrial, US addressed loans - <$1MM 427 $39,532 $92,581
Commercial & Industrial, US addressed loans - <$100k 239 $5,016 $20,987
Commercial & Industrial, US addressed loans - $100-250k 101 $10,549 $104,446
Commercial & Industrial, US addressed loans - $250k-1MM 87 $23,967 $275,483
Farmland loans - <$1MM 2 $306 $153,000
Farmland loans - $250k-1MM 2 $306 $153,000