Stonehambank A Co-operative Bank Mortgage Rates, Fees & Info

Stoneham, MA

LEI: 549300M2W1M6WRAK9S59

Tax ID: 04-1875230

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Stonehambank A Co-operative Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Stonehambank A Co-operative Bank has a high proportion of conventional loans. Their top markets include Boston, Worcester, Providence, Manchester, and Barnstable Town among others. Stonehambank A Co-operative Bank has an above average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors.


Originations

212

Origination Dollar Volume (All Markets)

$120,910,000

Employee count

82

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 189 $105,905,000 $560,344 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 2 $5,310,000 $2,655,000 $0 0.00%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 7 $4,335,000 $619,286 $0 0.00%
MANCHESTER-NASHUA, NH (FHA|USDA|VA) 7 $2,805,000 $400,714 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $1,575,000 $525,000 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $765,000 $255,000 $0 0.00%
SPRINGFIELD, MA (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%

Stonehambank A Co-operative Bank's top markets include Boston, Worcester, Providence, Manchester, and Barnstable Town among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 212 $120,910,000 $570,330 $0 0.00%

For the 2021 period, Stonehambank A Co-operative Bank's most frequently originated loan type of loans were Conventional, with 212 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 70 $59,930,000 $856,143 $0 0.00%
Refi 67 $25,785,000 $384,851 $0 0.00%
Cash Out Refi 66 $32,410,000 $491,061 $0 0.00%
Home Improvement 5 $1,725,000 $345,000 $0 0.00%
Other 4 $1,060,000 $265,000 $0 0.00%

For the 2021, Stonehambank A Co-operative Bank's most frequently cited loan purpose of loans were Home Purchase, with 70 originations. The 2nd most popular reason of loans were Refi, with 67 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 212 $120,910,000 $570,330 $0 0.00%

For the 2021, Stonehambank A Co-operative Bank's most frequently cited loan length of loans were Other, with 212 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 88 $25,660,000 $291,591 $0 0.00%
$400k-600k 34 $16,320,000 $480,000 $0 0.00%
$100k-200k 33 $4,765,000 $144,394 $0 0.00%
$1MM+ 26 $54,610,000 $2,100,385 $0 0.00%
$600k-1MM 26 $19,280,000 $741,538 $0 0.00%
$100,000 or less 5 $275,000 $55,000 $0 0.00%

2021 saw Stonehambank A Co-operative Bank place emphasis on $200k-400k loans with 88 originations, totaling $25,660,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 34 $11,580,000 $340,588 $0 0.00%
$150k-250k 34 $13,060,000 $384,118 $0 0.00%
$75k-100k 32 $8,190,000 $255,938 $0 0.00%
$250k+ 24 $14,670,000 $611,250 $0 0.00%
$50k-75k 24 $4,860,000 $202,500 $0 0.00%
$50k or less 7 $1,035,000 $147,857 $0 0.00%

Stonehambank A Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 34 originations. The second most popular income band? $150k-250k, with 34 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 212 $120,910,000 $570,330 $0 0.00%

Stonehambank A Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 212 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 54 $65,580,000 $1,214,444 $0 0.00%
White 149 $50,595,000 $339,564 $0 0.00%
Asian 3 $2,565,000 $855,000 $0 0.00%
Not provided 5 $1,795,000 $359,000 $0 0.00%
Other Asian 1 $375,000 $375,000 $0 0.00%

Approval Rates

Total approvals of all applications
91.99%

Stonehambank A Co-operative Bank has an average approval rate.

Pick Rate

Approvals leading to origination
90.84%

Stonehambank A Co-operative Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 212 $120,910,000 $570,330

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
212 $120,910,000 $570,330

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Stonehambank, A Co-Operative Bank 493 Boston Road Billerica, MA 1821 Full Service B&M $158,585
Stonehambank, A Co-Operative Bank 80 Montvale Ave Stoneham, MA 2180 Full Service B&M $395,394

For 2021, Stonehambank A Co-operative Bank had 2 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $22,910
Net interest income $20,483
Total noninterest income $2,100
Gross Fiduciary activities income $0
Service charges on deposit accounts $412
Trading account gains and fees $0
Additional Noninterest Income $1,688
Pre-tax net operating income $3,675
Securities gains (or losses, -) $1,706
Income before extraordinary items $4,237
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $4,237
Minority interest net income $0
Net income $4,237
Sale, conversion, retirement of capital stock, net $0
Net operating income $2,889

Stonehambank A Co-operative Bank's gross interest income from loans was $22,910,000.
Stonehambank A Co-operative Bank's net interest income from loans was $20,483,000.
Stonehambank A Co-operative Bank's fee based income from loans was $412,000.
Stonehambank A Co-operative Bank's net income from loans was $4,237,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,427
Provision for credit losses $0
Total noninterest expense $18,908
Salaries and employee benefits $10,437
Premises and equipment expense $978
Additional noninterest expense $7,493
Applicable income taxes $1,144
Net charge-offs $111
Cash dividends $0

Stonehambank A Co-operative Bank's interest expense for loans was $2,427,000.
Stonehambank A Co-operative Bank's payroll and benefits expense were $10,437,000.
Stonehambank A Co-operative Bank's property, plant and equipment expenses $978,000.

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 $553,612
Deposits held in domestic offices $553,612
Deposits by Individuals, partnerships, and corporations $537,309
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $6,947
Deposits by Commercial banks and other depository institutions in U.S. $9,355
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $35,612
Demand deposits $33,478
Nontransaction accounts $517,999
Money market deposit accounts (MMDAs) $142,716
Other savings deposits (excluding MMDAs) $284,751
Total time deposits $90,532
Total time and savings deposits $520,133
Noninterest-bearing deposits $101,513
Interest-bearing deposits $452,099
Retail deposits $527,458
IRAs and Keogh plan accounts $10,689
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $684,707
Cash & Balances due from depository institutions $32,940
Interest-bearing balances $31,564
Total securities $140,722
Federal funds sold & reverse repurchase $0
Net loans and leases $491,740
Loan and leases loss allowance $8,417
Trading account assets $0
Bank premises and fixed assets $9,190
Other real estate owned $0
Goodwill and other intangibles $619
All other assets $9,496

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $684,707
Total Liabilities $615,661
Total deposits $553,612
Interest-bearing deposits $452,099
Deposits held in domestic offices $553,612
% insured (estimated) $76
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $59,123
Subordinated debt $0
All other liabilities $2,926

Issued Loan Types

Type Value (in 000's)
Net loans and leases $491,740
Loan and leases loss allowance $8,417
Total loans and leases (domestic) $500,157
All real estate loans $426,009
Real estate loans in domestic offices $426,009
Construction and development loans $28,526
Residential 1-4 family construction $14,353
Other construction, all land development and other land $14,173
Loans secured by nonfarm nonresidential properties $156,510
Nonfarm nonresidential secured by owner-occupied properties $70,454
Commercial real estate & other non-farm, non-residential $86,056
Multifamily residential real estate $29,771
1-4 family residential loans $211,202
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $73,539
To non-U.S. addressees $0
Loans to individuals $586
Credit card loans $0
Related Plans $406
Consumer Auto Loans $0
Other loans to individuals $180
All other loans & leases $23
Loans to foreign governments and official institutions $0
Other loans $23
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 $1,301
Non 1-4 family restructured loans & leases $1,301
Total loans and leases (foreign) $0

StonehamBank A Co-operative Bank had $491,740,000 of loans outstanding in 2021. $426,009,000 of loans were in real estate loans. $28,526,000 of loans were in development loans. $29,771,000 of loans were in multifamily mortgage loans. $211,202,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 141 $51,021 $361,851
Nonfarm, nonresidential loans - <$100k 8 $347 $43,375
Nonfarm, nonresidential loans - $100-250k 28 $3,831 $136,821
Nonfarm, nonresidential loans - $250k-1MM 105 $46,843 $446,124
Commercial & Industrial, US addressed loans - <$1MM 276 $36,711 $133,011
Commercial & Industrial, US addressed loans - <$100k 101 $3,145 $31,139
Commercial & Industrial, US addressed loans - $100-250k 104 $11,054 $106,288
Commercial & Industrial, US addressed loans - $250k-1MM 71 $22,512 $317,070