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, Refi, 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, Providence, Barnstable Town, Manchester, and Laconia 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

    279

    Origination Dollar Volume (All Markets)

    $115,345,000

    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) 251 $103,855,000 $413,765 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 11 $4,745,000 $431,364 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 7 $2,485,000 $355,000 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 5 $2,435,000 $487,000 $0 0.00%
    Outside of Metro Areas 2 $970,000 $485,000 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Stonehambank A Co-operative Bank's top markets include Boston, Providence, Barnstable Town, Manchester, and Laconia among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 266 $109,140,000 $410,301 $0 0.00%
    FHA 9 $4,525,000 $502,778 $0 0.00%
    VA 4 $1,680,000 $420,000 $0 0.00%

    For 2019, Stonehambank A Co-operative Bank's most frequently originated type of loan was Conventional, with 266 originations. Their 2nd most popular type was FHA, with 9 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 116 $47,550,000 $409,914 $0 0.00%
    Refi 76 $28,700,000 $377,632 $0 0.00%
    Cash Out Refi 74 $32,460,000 $438,649 $0 0.00%
    Home Improvement 9 $5,185,000 $576,111 $0 0.00%
    Other 4 $1,450,000 $362,500 $0 0.00%

    For 2019, Stonehambank A Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 116 originations. The 2nd most popular reason was Refi, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 279 $115,345,000 $413,423 $0 0.00%

    For 2019, Stonehambank A Co-operative Bank's most frequently cited loan duration was Other, with 279 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 121 $35,675,000 $294,835 $0 0.00%
    $400k-600k 83 $39,815,000 $479,699 $0 0.00%
    $100k-200k 33 $5,145,000 $155,909 $0 0.00%
    $600k-1MM 25 $18,805,000 $752,200 $0 0.00%
    $1MM+ 11 $15,585,000 $1,416,818 $0 0.00%
    $100,000 or less 6 $320,000 $53,333 $0 0.00%

    2019 saw Stonehambank A Co-operative Bank place emphasis on $200k-400k loans with 121 originations, totaling $35,675,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 75 $27,235,000 $363,133 $0 0.00%
    $150k-250k 59 $24,885,000 $421,780 $0 0.00%
    $75k-100k 41 $12,715,000 $310,122 $0 0.00%
    $50k-75k 35 $6,975,000 $199,286 $0 0.00%
    $250k+ 26 $15,680,000 $603,077 $0 0.00%
    $50k or less 6 $1,350,000 $225,000 $0 0.00%

    Stonehambank A Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 75 originations. The second most popular income band? $150k-250k, with 59 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 279 $115,345,000 $413,423 $0 0.00%

    Stonehambank A Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 279 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 222 $80,260,000 $361,532 $0 0.00%
    Not applicable 35 $24,795,000 $708,429 $0 0.00%
    Asian 11 $4,605,000 $418,636 $0 0.00%
    Not provided 7 $3,755,000 $536,429 $0 0.00%
    Black 3 $1,625,000 $541,667 $0 0.00%
    Native Hawaiian or Islander 1 $305,000 $305,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.67%

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

    Pick Rate

    Approvals leading to origination
    85.66%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 279 $115,345,000 $413,423

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $10,165,000 $1,129,444
    Single Family (1-4 Units):Site-Built 270 $105,180,000 $389,556

    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 $121,274
    StonehamBank, A Co-operative Bank 80 Montvale Avenue Stoneham, MA 2180 Full Service B&M $345,229

    For 2019, Stonehambank A Co-operative Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $25,864
    Net interest income $19,295
    Total noninterest income $2,543
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $443
    Trading account gains and fees $0
    Additional Noninterest Income $2,100
    Pre-tax net operating income $5,154
    Securities gains (or losses, -) $382
    Income before extraordinary items $4,128
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,128
    Minority interest net income $0
    Net income $4,128
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,826

    Stonehambank A Co-operative Bank's gross interest income from loans was $25,864,000.
    Stonehambank A Co-operative Bank's net interest income from loans was $19,295,000.
    Stonehambank A Co-operative Bank's fee based income from loans was $443,000.
    Stonehambank A Co-operative Bank's net income from loans was $4,128,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,569
    Provision for credit losses $-1,360
    Total noninterest expense $18,044
    Salaries and employee benefits $11,018
    Premises and equipment expense $930
    Additional noninterest expense $6,096
    Applicable income taxes $1,408
    Net charge-offs $14
    Cash dividends $0

    Stonehambank A Co-operative Bank's interest expense for loans was $6,569,000.
    Stonehambank A Co-operative Bank's payroll and benefits expense were $11,018,000.
    Stonehambank A Co-operative Bank's property, plant and equipment expenses $930,000.

    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 $464,606
    Deposits held in domestic offices $464,606
    Deposits by Individuals, partnerships, and corporations $443,143
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $6,965
    Deposits by Commercial banks and other depository institutions in U.S. $14,498
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $25,900
    Demand deposits $21,899
    Nontransaction accounts $438,706
    Money market deposit accounts (MMDAs) $95,849
    Other savings deposits (excluding MMDAs) $193,043
    Total time deposits $149,813
    Total time and savings deposits $442,707
    Noninterest-bearing deposits $58,458
    Interest-bearing deposits $406,148
    Retail deposits $412,263
    IRAs and Keogh plan accounts $11,261
    Brokered deposits $12,487
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $606,412
    Cash & Balances due from depository institutions $16,477
    Interest-bearing balances $13,082
    Total securities $71,296
    Federal funds sold & reverse repurchase $0
    Net loans and leases $499,439
    Loan and leases loss allowance $6,319
    Trading account assets $0
    Bank premises and fixed assets $9,353
    Other real estate owned $0
    Goodwill and other intangibles $997
    All other assets $8,850

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $606,412
    Total Liabilities $543,079
    Total deposits $464,606
    Interest-bearing deposits $406,148
    Deposits held in domestic offices $464,606
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $74,957
    Subordinated debt $0
    All other liabilities $3,516

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $499,439
    Loan and leases loss allowance $6,319
    Total loans and leases (domestic) $505,758
    All real estate loans $427,039
    Real estate loans in domestic offices $427,039
    Construction and development loans $10,879
    Residential 1-4 family construction $5,642
    Other construction, all land development and other land $5,237
    Loans secured by nonfarm nonresidential properties $162,081
    Nonfarm nonresidential secured by owner-occupied properties $83,574
    Commercial real estate & other non-farm, non-residential $78,507
    Multifamily residential real estate $21,692
    1-4 family residential loans $232,387
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $77,803
    To non-U.S. addressees $0
    Loans to individuals $905
    Credit card loans $0
    Related Plans $701
    Consumer Auto Loans $0
    Other loans to individuals $204
    All other loans & leases $10
    Loans to foreign governments and official institutions $0
    Other loans $10
    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 $159
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    StonehamBank A Co-operative Bank had $499,439,000 of loans outstanding in 2019. $427,039,000 of loans were in real estate loans. $10,879,000 of loans were in development loans. $21,692,000 of loans were in multifamily mortgage loans. $232,387,000 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 166 $57,203 $344,596
    Nonfarm, nonresidential loans - <$100k 20 $1,075 $53,750
    Nonfarm, nonresidential loans - $100-250k 36 $6,395 $177,639
    Nonfarm, nonresidential loans - $250k-1MM 110 $49,733 $452,118
    Commercial & Industrial, US addressed loans - <$1MM 357 $44,833 $125,583
    Commercial & Industrial, US addressed loans - <$100k 153 $4,217 $27,562
    Commercial & Industrial, US addressed loans - $100-250k 119 $14,249 $119,739
    Commercial & Industrial, US addressed loans - $250k-1MM 85 $26,367 $310,200