Newburyport Five Cents Savings Bank Mortgage Rates, Fees & Info

Newburyport, MA

LEI: 549300JXG84BHZE66C26

Tax ID: 04-1669070

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Mortgage Data

Bank Data

Review & Overview

Newburyport Five Cents Savings Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Newburyport Five Cents Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Portland, Manchester, Concord, and Worcester among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

Newburyport Five Cents 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.

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Originations

341

Origination Dollar Volume (All Markets)

$152,205,000

Employee count

163

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) 308 $138,050,000 $448,214 $0 0.00%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 7 $5,905,000 $843,571 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 6 $2,010,000 $335,000 $0 0.00%
Outside of Metro Areas 7 $1,645,000 $235,000 $0 0.00%
Concord, NH (FHA|USDA|VA) 2 $1,260,000 $630,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 4 $1,080,000 $270,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $965,000 $321,667 $0 0.00%
Lebanon, NH-VT (FHA|USDA|VA) 2 $960,000 $480,000 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Laconia, NH (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
Newburyport Five Cents Savings Bank's top markets include Boston, Portland, Manchester, Concord, and Worcester among others.

Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 341 $152,205,000 $446,349 $0 0.00%

    For 2019, Newburyport Five Cents Savings Bank's most frequently originated type of loan was Conventional, with 341 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 169 $76,015,000 $449,793 $0 0.00%
    Cash Out Refi 84 $33,720,000 $401,429 $0 0.00%
    Refi 81 $38,925,000 $480,556 $0 0.00%
    Home Improvement 5 $3,285,000 $657,000 $0 0.00%
    Other 2 $260,000 $130,000 $0 0.00%

    For 2019, Newburyport Five Cents Savings Bank's most frequently cited loan purpose was Home Purchase, with 169 originations. The 2nd most popular reason was Cash Out Refi, with 84 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 341 $152,205,000 $446,349 $0 0.00%

    For 2019, Newburyport Five Cents Savings Bank's most frequently cited loan duration was Other, with 341 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 135 $39,525,000 $292,778 $0 0.00%
    $400k-600k 89 $42,145,000 $473,539 $0 0.00%
    $600k-1MM 51 $37,215,000 $729,706 $0 0.00%
    $100k-200k 41 $6,385,000 $155,732 $0 0.00%
    $1MM+ 16 $26,300,000 $1,643,750 $0 0.00%
    $100,000 or less 9 $635,000 $70,556 $0 0.00%

    2019 saw Newburyport Five Cents Savings Bank place emphasis on $200k-400k loans with 135 originations, totaling $39,525,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 90 $40,680,000 $452,000 $0 0.00%
    $100k-150k 64 $21,880,000 $341,875 $0 0.00%
    $250k+ 62 $38,620,000 $622,903 $0 0.00%
    $75k-100k 36 $9,590,000 $266,389 $0 0.00%
    $50k-75k 31 $8,885,000 $286,613 $0 0.00%
    $50k or less 7 $1,105,000 $157,857 $0 0.00%

    Newburyport Five Cents Savings Bank lent most frequently to those with incomes in the $150k-250k range, with 90 originations. The second most popular income band? $100k-150k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 341 $152,205,000 $446,349 $0 0.00%

    Newburyport Five Cents Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 341 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 283 $117,615,000 $415,601 $0 0.00%
    Not applicable 51 $31,445,000 $616,569 $0 0.00%
    Not provided 6 $2,660,000 $443,333 $0 0.00%
    Black 1 $485,000 $485,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.82%

    Newburyport Five Cents Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.99%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 341 $152,205,000 $446,349

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 19 $14,045,000 $739,211
    Single Family (1-4 Units):Manufactured 1 $545,000 $545,000
    Single Family (1-4 Units):Site-Built 321 $137,615,000 $428,707

    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 $59,079
    Newburyport Five Cents Savings Bank 141 Portsmouth Avenue Exeter, NH 3833 Full Service B&M $2,734
    Newburyport Five Cents Savings Bank 21 Storey Avenue Newburyport, MA 1950 Full Service B&M $79,831
    Newburyport Five Cents Savings Bank 254 State Street Portsmouth, NH 3801 Full Service B&M $26,214
    Newburyport Five Cents Savings Bank 27 High Road Newbury, MA 1951 Full Service B&M $70,846
    Newburyport Five Cents Savings Bank 321 Lafayette Road Hampton, NH 3842 Full Service B&M $155
    Newburyport Five Cents Savings Bank 40 Friend Street Amesbury, MA 1913 Full Service B&M $18,166
    Newburyport Five Cents Savings Bank 43 Main Street Amesbury, MA 1913 Full Service B&M $33,557
    Newburyport Five Cents Savings Bank 63 State Street Newburyport, MA 1950 Full Service B&M $395,908
    Newburyport Five Cents Savings Bank 836 Central Avenue Dover, NH 3820 Full Service B&M $10,460
    Newburyport Five Cents Savings Bank 85 Storey Avenue Newburyport, MA 1950 Limited, Mobile/Seasonal Office $547
    Newburyport Five Cents Savings Bank Merrill Street And Route 110 Salisbury, MA 1952 Full Service B&M $80,414

    For 2019, Newburyport Five Cents Savings Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $39,024
    Net interest income $27,658
    Total noninterest income $3,063
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $392
    Trading account gains and fees $0
    Additional Noninterest Income $2,671
    Pre-tax net operating income $2,261
    Securities gains (or losses, -) $1,718
    Income before extraordinary items $3,361
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,361
    Minority interest net income $0
    Net income $3,361
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,917

    Newburyport Five Cents Savings Bank's gross interest income from loans was $39,024,000.
    Newburyport Five Cents Savings Bank's net interest income from loans was $27,658,000.
    Newburyport Five Cents Savings Bank's fee based income from loans was $392,000.
    Newburyport Five Cents Savings Bank's net income from loans was $3,361,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $11,366
    Provision for credit losses $1,759
    Total noninterest expense $26,701
    Salaries and employee benefits $15,852
    Premises and equipment expense $3,445
    Additional noninterest expense $7,404
    Applicable income taxes $618
    Net charge-offs $36
    Cash dividends $811

    Newburyport Five Cents Savings Bank's interest expense for loans was $11,366,000.
    Newburyport Five Cents Savings Bank's payroll and benefits expense were $15,852,000.
    Newburyport Five Cents Savings Bank's property, plant and equipment expenses $3,445,000.

    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 $769,110
    Deposits held in domestic offices $769,110
    Deposits by Individuals, partnerships, and corporations $616,728
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $132,500
    Deposits by Commercial banks and other depository institutions in U.S. $19,881
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $40,268
    Demand deposits $22,700
    Nontransaction accounts $728,842
    Money market deposit accounts (MMDAs) $293,729
    Other savings deposits (excluding MMDAs) $238,219
    Total time deposits $196,894
    Total time and savings deposits $746,410
    Noninterest-bearing deposits $104,575
    Interest-bearing deposits $664,535
    Retail deposits $684,193
    IRAs and Keogh plan accounts $27,609
    Brokered deposits $20,679
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,032,018
    Cash & Balances due from depository institutions $12,790
    Interest-bearing balances $5,576
    Total securities $132,258
    Federal funds sold & reverse repurchase $0
    Net loans and leases $834,935
    Loan and leases loss allowance $8,511
    Trading account assets $0
    Bank premises and fixed assets $19,912
    Other real estate owned $0
    Goodwill and other intangibles $309
    All other assets $31,814

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,032,018
    Total Liabilities $903,910
    Total deposits $769,110
    Interest-bearing deposits $664,535
    Deposits held in domestic offices $769,110
    % insured (estimated) $63
    Federal funds purchased and repurchase agreements $1,307
    Trading liabilities $0
    Other borrowed funds $122,638
    Subordinated debt $0
    All other liabilities $10,855

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $834,935
    Loan and leases loss allowance $8,511
    Total loans and leases (domestic) $843,446
    All real estate loans $697,105
    Real estate loans in domestic offices $697,105
    Construction and development loans $87,746
    Residential 1-4 family construction $20,106
    Other construction, all land development and other land $67,640
    Loans secured by nonfarm nonresidential properties $219,016
    Nonfarm nonresidential secured by owner-occupied properties $85,825
    Commercial real estate & other non-farm, non-residential $133,191
    Multifamily residential real estate $33,598
    1-4 family residential loans $355,305
    Farmland loans $1,440
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $53,494
    To non-U.S. addressees $0
    Loans to individuals $30,966
    Credit card loans $0
    Related Plans $177
    Consumer Auto Loans $232
    Other loans to individuals $30,557
    All other loans & leases $61,881
    Loans to foreign governments and official institutions $0
    Other loans $51
    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 $32
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Newburyport Five Cents Savings Bank had $834,935,000 of loans outstanding in 2019. $697,105,000 of loans were in real estate loans. $87,746,000 of loans were in development loans. $33,598,000 of loans were in multifamily mortgage loans. $355,305,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $232,000 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 251 $74,708 $297,641
    Nonfarm, nonresidential loans - <$100k 28 $1,393 $49,750
    Nonfarm, nonresidential loans - $100-250k 58 $8,191 $141,224
    Nonfarm, nonresidential loans - $250k-1MM 165 $65,124 $394,691
    Commercial & Industrial, US addressed loans - <$1MM 228 $23,398 $102,623
    Commercial & Industrial, US addressed loans - <$100k 131 $3,248 $24,794
    Commercial & Industrial, US addressed loans - $100-250k 45 $3,903 $86,733
    Commercial & Industrial, US addressed loans - $250k-1MM 52 $16,247 $312,442
    Farmland loans - <$1MM 3 $381 $127,000
    Farmland loans - $100-250k 1 $6 $6,000
    Farmland loans - $250k-1MM 2 $375 $187,500