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

Stoneham, MA

LEI: 549300M2W1M6WRAK9S59

Tax ID: 04-1875230

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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

    Stonehambank A Co-operative Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Stonehambank A Co-operative Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Boston, Manchester, Worcester, Barnstable Town, and Providence among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Stonehambank A Co-operative 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

    195

    Origination Dollar Volume (All Markets)

    $68,545,000

    Employee count

    84

    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) 172 $63,190,000 $367,384 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 7 $1,565,000 $223,571 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 6 $1,280,000 $213,333 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $1,055,000 $351,667 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $595,000 $198,333 $0 0.00%
    Lebanon, NH-VT (FHA|USDA|VA) 2 $390,000 $195,000 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Stonehambank A Co-operative Bank's top markets include Boston, Manchester, Worcester, Barnstable Town, and Providence among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 189 $66,035,000 $349,392 $0 0.00%
    FHA 4 $1,610,000 $402,500 $0 0.00%
    VA 2 $900,000 $450,000 $0 0.00%

    For 2018, Stonehambank A Co-operative Bank's most frequently originated type of loan was Conventional, with 189 originations. Their 2nd most popular type was FHA, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 124 $43,280,000 $349,032 $0 0.00%
    Cash Out Refi 43 $16,425,000 $381,977 $0 0.00%
    Refi 18 $6,220,000 $345,556 $0 0.00%
    Home Improvement 7 $1,785,000 $255,000 $0 0.00%
    Other 3 $835,000 $278,333 $0 0.00%

    For 2018, Stonehambank A Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 124 originations. The 2nd most popular reason was Cash Out Refi, with 43 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 195 $68,545,000 $351,513 $0 0.00%

    For 2018, Stonehambank A Co-operative Bank's most frequently cited loan duration was Other, with 195 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 104 $30,860,000 $296,731 $0 0.00%
    $400k-600k 48 $23,120,000 $481,667 $0 0.00%
    $100k-200k 19 $2,825,000 $148,684 $0 0.00%
    $100,000 or less 11 $705,000 $64,091 $0 0.00%
    $600k-1MM 11 $7,355,000 $668,636 $0 0.00%
    $1MM+ 2 $3,680,000 $1,840,000 $0 0.00%

    2018 saw Stonehambank A Co-operative Bank place emphasis on $200k-400k loans with 104 originations, totaling $30,860,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 61 $20,875,000 $342,213 $0 0.00%
    $75k-100k 33 $8,815,000 $267,121 $0 0.00%
    $150k-250k 30 $11,750,000 $391,667 $0 0.00%
    $50k-75k 26 $6,050,000 $232,692 $0 0.00%
    $250k+ 13 $9,175,000 $705,769 $0 0.00%
    $50k or less 6 $810,000 $135,000 $0 0.00%

    Stonehambank A Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 61 originations. The second most popular income band? $75k-100k, with 33 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 195 $68,545,000 $351,513 $0 0.00%

    Stonehambank A Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 195 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 155 $50,425,000 $325,323 $0 0.00%
    Not applicable 26 $11,070,000 $425,769 $0 0.00%
    Not provided 5 $3,845,000 $769,000 $0 0.00%
    Asian 5 $2,075,000 $415,000 $0 0.00%
    Black 3 $795,000 $265,000 $0 0.00%
    American Indian 1 $335,000 $335,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.04%

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

    Pick Rate

    Approvals leading to origination
    88.21%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 195 $68,545,000 $351,513

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $3,040,000 $1,520,000
    Single Family (1-4 Units):Site-Built 193 $65,505,000 $339,404

    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 $116,536
    StonehamBank, A Co-operative Bank 80 Montvale Avenue Stoneham, MA 2180 Full Service B&M $325,506

    For 2018, Stonehambank A Co-operative Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,830
    Net interest income $19,747
    Total noninterest income $2,687
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $398
    Trading account gains and fees $0
    Additional Noninterest Income $2,289
    Pre-tax net operating income $3,551
    Securities gains (or losses, -) $780
    Income before extraordinary items $3,235
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,235
    Minority interest net income $0
    Net income $3,235
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,618

    Stonehambank A Co-operative Bank's gross interest income from loans was $24,830,000.
    Stonehambank A Co-operative Bank's net interest income from loans was $19,747,000.
    Stonehambank A Co-operative Bank's fee based income from loans was $398,000.
    Stonehambank A Co-operative Bank's net income from loans was $3,235,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,083
    Provision for credit losses $1,150
    Total noninterest expense $17,733
    Salaries and employee benefits $10,397
    Premises and equipment expense $1,081
    Additional noninterest expense $6,255
    Applicable income taxes $1,096
    Net charge-offs $-66
    Cash dividends $0

    Stonehambank A Co-operative Bank's interest expense for loans was $5,083,000.
    Stonehambank A Co-operative Bank's payroll and benefits expense were $10,397,000.
    Stonehambank A Co-operative Bank's property, plant and equipment expenses $1,081,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 5.0%
    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 $462,957
    Deposits held in domestic offices $462,957
    Deposits by Individuals, partnerships, and corporations $432,581
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $7,956
    Deposits by Commercial banks and other depository institutions in U.S. $22,419
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $23,979
    Demand deposits $19,722
    Nontransaction accounts $438,977
    Money market deposit accounts (MMDAs) $78,101
    Other savings deposits (excluding MMDAs) $208,908
    Total time deposits $151,968
    Total time and savings deposits $443,234
    Noninterest-bearing deposits $84,678
    Interest-bearing deposits $378,279
    Retail deposits $415,948
    IRAs and Keogh plan accounts $11,348
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $600,693
    Cash & Balances due from depository institutions $15,365
    Interest-bearing balances $10,125
    Total securities $68,725
    Federal funds sold & reverse repurchase $0
    Net loans and leases $495,968
    Loan and leases loss allowance $7,694
    Trading account assets $0
    Bank premises and fixed assets $9,298
    Other real estate owned $0
    Goodwill and other intangibles $969
    All other assets $10,368

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $600,693
    Total Liabilities $543,379
    Total deposits $462,957
    Interest-bearing deposits $378,279
    Deposits held in domestic offices $462,957
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $76,832
    Subordinated debt $0
    All other liabilities $3,590

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $495,968
    Loan and leases loss allowance $7,694
    Total loans and leases (domestic) $503,662
    All real estate loans $410,632
    Real estate loans in domestic offices $410,632
    Construction and development loans $12,807
    Residential 1-4 family construction $9,900
    Other construction, all land development and other land $2,907
    Loans secured by nonfarm nonresidential properties $140,729
    Nonfarm nonresidential secured by owner-occupied properties $78,602
    Commercial real estate & other non-farm, non-residential $62,127
    Multifamily residential real estate $28,938
    1-4 family residential loans $228,158
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $92,067
    To non-U.S. addressees $0
    Loans to individuals $949
    Credit card loans $0
    Related Plans $753
    Consumer Auto Loans $0
    Other loans to individuals $196
    All other loans & leases $13
    Loans to foreign governments and official institutions $0
    Other loans $13
    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 $167
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    StonehamBank A Co-operative Bank had $495,968,000 of loans outstanding in 2018. $410,632,000 of loans were in real estate loans. $12,807,000 of loans were in development loans. $28,938,000 of loans were in multifamily mortgage loans. $228,158,000 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 234 $79,133 $338,175
    Nonfarm, nonresidential loans - <$100k 25 $1,460 $58,400
    Nonfarm, nonresidential loans - $100-250k 68 $11,690 $171,912
    Nonfarm, nonresidential loans - $250k-1MM 141 $65,983 $467,965
    Commercial & Industrial, US addressed loans - <$1MM 205 $25,422 $124,010
    Commercial & Industrial, US addressed loans - <$100k 97 $2,988 $30,804
    Commercial & Industrial, US addressed loans - $100-250k 56 $5,369 $95,875
    Commercial & Industrial, US addressed loans - $250k-1MM 52 $17,065 $328,173