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. Their top markets by origination volume include: Boston, Worcester, Providence, Manchester, and Barnstable Town among others. We have data for 7 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

    212

    Origination Dollar Volume (All Markets)

    $120,910,000

    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) 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.

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

    • Product Mix

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

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

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Stonehambank A Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 70 originations. The 2nd most popular reason was 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 2021, Stonehambank A Co-operative Bank's most frequently cited loan duration was 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
    92.22%

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

    Pick Rate

    Approvals leading to origination
    89.62%

    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