Mutualone Bank Mortgage Rates, Fees & Info

Framingham, MA

LEI: 549300L1RVMMHUVKTQ94

Tax ID: 04-1339820

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Mutualone Bank is a smaller bank specializing in various types of mortgages.



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    Originations

    0

    Origination Dollar Volume (All Markets)

    $0

    Employee count

    89

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Mutualone Bank 49 Main Street Natick, MA 1760 Full Service B&M $169,113
    Mutualone Bank 828 Concord St Framingham, MA 1701 Full Service B&M $559,841
    Mutualone Bank One Lincoln Street Framingham, MA 1701 Full Service B&M $68,414

    For 2021, Mutualone Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $42,387
    Net interest income $37,120
    Total noninterest income $1,048
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $248
    Trading account gains and fees $0
    Additional Noninterest Income $800
    Pre-tax net operating income $18,924
    Securities gains (or losses, -) $3,919
    Income before extraordinary items $16,901
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $16,901
    Minority interest net income $0
    Net income $16,901
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $13,804

    Mutualone Bank's gross interest income from loans was $42,387,000.
    Mutualone Bank's net interest income from loans was $37,120,000.
    Mutualone Bank's fee based income from loans was $248,000.
    Mutualone Bank's net income from loans was $16,901,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,267
    Provision for credit losses $100
    Total noninterest expense $19,144
    Salaries and employee benefits $13,131
    Premises and equipment expense $1,456
    Additional noninterest expense $4,557
    Applicable income taxes $5,942
    Net charge-offs $8
    Cash dividends $0

    Mutualone Bank's interest expense for loans was $5,267,000.
    Mutualone Bank's payroll and benefits expense were $13,131,000.
    Mutualone Bank's property, plant and equipment expenses $1,456,000.

    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 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    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 $808,506
    Deposits held in domestic offices $808,506
    Deposits by Individuals, partnerships, and corporations $808,472
    Deposits by U.S. Government $34
    Deposits by States and political subdivisions in the U.S. $0
    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 $213,961
    Demand deposits $136,777
    Nontransaction accounts $594,545
    Money market deposit accounts (MMDAs) $68,361
    Other savings deposits (excluding MMDAs) $161,227
    Total time deposits $364,957
    Total time and savings deposits $671,729
    Noninterest-bearing deposits $136,777
    Interest-bearing deposits $671,729
    Retail deposits $674,963
    IRAs and Keogh plan accounts $19,630
    Brokered deposits $25,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,037,109
    Cash & Balances due from depository institutions $92,773
    Interest-bearing balances $91,271
    Total securities $97,874
    Federal funds sold & reverse repurchase $85
    Net loans and leases $812,157
    Loan and leases loss allowance $13,368
    Trading account assets $0
    Bank premises and fixed assets $7,661
    Other real estate owned $0
    Goodwill and other intangibles $216
    All other assets $26,343

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,037,109
    Total Liabilities $834,604
    Total deposits $808,506
    Interest-bearing deposits $671,729
    Deposits held in domestic offices $808,506
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $16,534
    Subordinated debt $0
    All other liabilities $9,564

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $812,157
    Loan and leases loss allowance $13,368
    Total loans and leases (domestic) $825,525
    All real estate loans $636,458
    Real estate loans in domestic offices $636,458
    Construction and development loans $126,732
    Residential 1-4 family construction $56,971
    Other construction, all land development and other land $69,761
    Loans secured by nonfarm nonresidential properties $231,563
    Nonfarm nonresidential secured by owner-occupied properties $81,246
    Commercial real estate & other non-farm, non-residential $150,317
    Multifamily residential real estate $77,986
    1-4 family residential loans $200,177
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $200
    Commercial and industrial loans $182,709
    To non-U.S. addressees $0
    Loans to individuals $6,455
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $517
    Other loans to individuals $5,938
    All other loans & leases $5
    Loans to foreign governments and official institutions $0
    Other loans $5
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,815
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,916
    Non 1-4 family restructured loans & leases $1,004
    Total loans and leases (foreign) $0

    MutualOne Bank had $812,157,000 of loans outstanding in 2021. $636,458,000 of loans were in real estate loans. $126,732,000 of loans were in development loans. $77,986,000 of loans were in multifamily mortgage loans. $200,177,000 of loans were in 1-4 family mortgage loans. $200,000 of loans were in farm loans. $0 of loans were in credit card loans. $517,000 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 153 $49,551 $323,863
    Nonfarm, nonresidential loans - <$100k 24 $510 $21,250
    Nonfarm, nonresidential loans - $100-250k 22 $2,726 $123,909
    Nonfarm, nonresidential loans - $250k-1MM 107 $46,315 $432,850
    Commercial & Industrial, US addressed loans - <$1MM 769 $30,695 $39,915
    Commercial & Industrial, US addressed loans - <$100k 479 $7,410 $15,470
    Commercial & Industrial, US addressed loans - $100-250k 162 $2,726 $16,827
    Commercial & Industrial, US addressed loans - $250k-1MM 128 $20,559 $160,617
    Agriculture operations loans - <$1MM 1 $200 $200,000
    Agriculture operations loans - $100-250k 1 $200 $200,000