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 Refi, Cash Out Refi, and Home Purchase 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, Manchester, Worcester, and Barnstable Town among others. We have data for 9 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 an above average pick rate when compared to similar lenders.

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    Originations

    559

    Origination Dollar Volume (All Markets)

    $206,465,000

    Employee count

    82

    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) 501 $185,715,000 $370,689 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 17 $6,575,000 $386,765 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 17 $4,545,000 $267,353 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 9 $3,505,000 $389,444 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 8 $2,970,000 $371,250 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 3 $1,725,000 $575,000 $0 0.00%
    Outside of Metro Areas 2 $1,050,000 $525,000 $0 0.00%
    Keene, NH (FHA|USDA|VA) 1 $275,000 $275,000 $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, Manchester, Worcester, and Barnstable Town 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 550 $203,220,000 $369,491 $0 0.00%
    FHA 5 $1,715,000 $343,000 $0 0.00%
    VA 4 $1,530,000 $382,500 $0 0.00%

    For 2020, Stonehambank A Co-operative Bank's most frequently originated type of loan was Conventional, with 550 originations. Their 2nd most popular type was FHA, with 5 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 271 $97,175,000 $358,579 $0 0.00%
    Cash Out Refi 150 $52,070,000 $347,133 $0 0.00%
    Home Purchase 134 $55,750,000 $416,045 $0 0.00%
    Home Improvement 3 $905,000 $301,667 $0 0.00%
    Other 1 $565,000 $565,000 $0 0.00%

    For 2020, Stonehambank A Co-operative Bank's most frequently cited loan purpose was Refi, with 271 originations. The 2nd most popular reason was Cash Out Refi, with 150 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 559 $206,465,000 $369,347 $0 0.00%

    For 2020, Stonehambank A Co-operative Bank's most frequently cited loan duration was Other, with 559 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 299 $91,045,000 $304,498 $0 0.00%
    $400k-600k 130 $62,650,000 $481,923 $0 0.00%
    $100k-200k 72 $11,300,000 $156,944 $0 0.00%
    $600k-1MM 35 $25,735,000 $735,286 $0 0.00%
    $100,000 or less 12 $650,000 $54,167 $0 0.00%
    $1MM+ 11 $15,085,000 $1,371,364 $0 0.00%

    2020 saw Stonehambank A Co-operative Bank place emphasis on $200k-400k loans with 299 originations, totaling $91,045,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 146 $51,480,000 $352,603 $0 0.00%
    $150k-250k 138 $52,890,000 $383,261 $0 0.00%
    $75k-100k 108 $31,150,000 $288,426 $0 0.00%
    $50k-75k 59 $13,385,000 $226,864 $0 0.00%
    $250k+ 36 $20,230,000 $561,944 $0 0.00%
    $50k or less 21 $3,295,000 $156,905 $0 0.00%

    Stonehambank A Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 146 originations. The second most popular income band? $150k-250k, with 138 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 559 $206,465,000 $369,347 $0 0.00%

    Stonehambank A Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 559 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 472 $158,910,000 $336,674 $0 0.00%
    Not applicable 49 $32,915,000 $671,735 $0 0.00%
    Asian 16 $6,060,000 $378,750 $0 0.00%
    Black 10 $3,510,000 $351,000 $0 0.00%
    Not provided 7 $3,425,000 $489,286 $0 0.00%
    American Indian 3 $845,000 $281,667 $0 0.00%
    Native Hawaiian or Islander 2 $800,000 $400,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.82%

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

    Pick Rate

    Approvals leading to origination
    94.81%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 559 $206,465,000 $369,347

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 12 $12,140,000 $1,011,667
    Single Family (1-4 Units):Site-Built 547 $194,325,000 $355,256

    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 $131,475
    Stonehambank, A Co-Operative Bank 80 Montvale Avenue Stoneham, MA 2180 Full Service B&M $372,158

    For 2020, Stonehambank A Co-operative Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $23,260
    Net interest income $18,711
    Total noninterest income $3,720
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $395
    Trading account gains and fees $0
    Additional Noninterest Income $3,325
    Pre-tax net operating income $2,808
    Securities gains (or losses, -) $981
    Income before extraordinary items $2,816
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,816
    Minority interest net income $0
    Net income $2,816
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,041

    Stonehambank A Co-operative Bank's gross interest income from loans was $23,260,000.
    Stonehambank A Co-operative Bank's net interest income from loans was $18,711,000.
    Stonehambank A Co-operative Bank's fee based income from loans was $395,000.
    Stonehambank A Co-operative Bank's net income from loans was $2,816,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,549
    Provision for credit losses $2,175
    Total noninterest expense $17,448
    Salaries and employee benefits $10,039
    Premises and equipment expense $992
    Additional noninterest expense $6,417
    Applicable income taxes $973
    Net charge-offs $-34
    Cash dividends $0

    Stonehambank A Co-operative Bank's interest expense for loans was $4,549,000.
    Stonehambank A Co-operative Bank's payroll and benefits expense were $10,039,000.
    Stonehambank A Co-operative Bank's property, plant and equipment expenses $992,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 5.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 2.0%
    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 $514,769
    Deposits held in domestic offices $514,769
    Deposits by Individuals, partnerships, and corporations $495,523
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $6,954
    Deposits by Commercial banks and other depository institutions in U.S. $12,293
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $32,925
    Demand deposits $30,265
    Nontransaction accounts $481,845
    Money market deposit accounts (MMDAs) $126,091
    Other savings deposits (excluding MMDAs) $245,435
    Total time deposits $110,319
    Total time and savings deposits $484,505
    Noninterest-bearing deposits $89,134
    Interest-bearing deposits $425,635
    Retail deposits $483,914
    IRAs and Keogh plan accounts $10,989
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $658,393
    Cash & Balances due from depository institutions $48,965
    Interest-bearing balances $24,597
    Total securities $88,052
    Federal funds sold & reverse repurchase $0
    Net loans and leases $502,202
    Loan and leases loss allowance $8,528
    Trading account assets $0
    Bank premises and fixed assets $9,112
    Other real estate owned $0
    Goodwill and other intangibles $1,006
    All other assets $9,056

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $658,393
    Total Liabilities $591,433
    Total deposits $514,769
    Interest-bearing deposits $425,635
    Deposits held in domestic offices $514,769
    % insured (estimated) $78
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $73,623
    Subordinated debt $0
    All other liabilities $3,041

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $502,202
    Loan and leases loss allowance $8,528
    Total loans and leases (domestic) $510,730
    All real estate loans $423,763
    Real estate loans in domestic offices $423,763
    Construction and development loans $11,270
    Residential 1-4 family construction $6,673
    Other construction, all land development and other land $4,597
    Loans secured by nonfarm nonresidential properties $151,212
    Nonfarm nonresidential secured by owner-occupied properties $77,737
    Commercial real estate & other non-farm, non-residential $73,475
    Multifamily residential real estate $24,934
    1-4 family residential loans $236,347
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $86,289
    To non-U.S. addressees $0
    Loans to individuals $659
    Credit card loans $0
    Related Plans $443
    Consumer Auto Loans $0
    Other loans to individuals $216
    All other loans & leases $19
    Loans to foreign governments and official institutions $0
    Other loans $19
    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 $1,146
    Non 1-4 family restructured loans & leases $1,146
    Total loans and leases (foreign) $0

    StonehamBank A Co-operative Bank had $502,202,000 of loans outstanding in 2020. $423,763,000 of loans were in real estate loans. $11,270,000 of loans were in development loans. $24,934,000 of loans were in multifamily mortgage loans. $236,347,000 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 147 $49,010 $333,401
    Nonfarm, nonresidential loans - <$100k 17 $853 $50,176
    Nonfarm, nonresidential loans - $100-250k 32 $4,744 $148,250
    Nonfarm, nonresidential loans - $250k-1MM 98 $43,413 $442,990
    Commercial & Industrial, US addressed loans - <$1MM 470 $54,868 $116,740
    Commercial & Industrial, US addressed loans - <$100k 233 $8,631 $37,043
    Commercial & Industrial, US addressed loans - $100-250k 146 $17,665 $120,993
    Commercial & Industrial, US addressed loans - $250k-1MM 91 $28,572 $313,978