Easthampton Savings Bank Mortgage Rates, Fees & Info

Easthampton, MA

LEI: 549300N38Q5YKSSV1106

Tax ID: 61-1570940

5 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Easthampton Savings Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Easthampton Savings Bank has a high proportion of conventional loans. Their top markets include Springfield, Providence, Hartford, Barnstable Town, and Pittsfield among others. Easthampton Savings Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Easthampton Savings Bank is typically a low fee lendor.


Originations

442

Origination Dollar Volume (All Markets)

$111,900,000

Employee count

198

Awards

Easthampton Savings Bank 30 Year Conventional Loans gold
Show all (1) awards

Relative Rate

Easthampton Savings Bank's average 30 year fixed rate mortgage of loans were 3.21%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.06%.

Relative Fees

Easthampton Savings Bank's average total fees for a 30 year fixed rate mortgage are $3,128.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
SPRINGFIELD, MA (FHA|USDA|VA) 427 $106,595,000 $249,637 $2,683 3.16%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 2 $950,000 $475,000 $3,585 3.13%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $935,000 $311,667 $3,081 2.92%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $620,000 $310,000 $2,864 3.06%
Outside of Metro Areas 2 $590,000 $295,000 $4,147 3.06%
PITTSFIELD, MA (FHA|USDA|VA) 1 $545,000 $545,000 $4,053 2.88%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $525,000 $525,000 $4,363 3.13%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $425,000 $425,000 $3,351 3.13%
Lebanon, NH-VT (FHA|USDA|VA) 1 $325,000 $325,000 $0 3.63%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $255,000 $255,000 $3,665 2.75%
Bennington, VT (FHA|USDA|VA) 1 $135,000 $135,000 $3,105 3.00%

Easthampton Savings Bank's top markets include Springfield, Providence, Hartford, Barnstable Town, and Pittsfield among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 442 $111,900,000 $253,167 $2,711 3.16%

For the 2021 period, Easthampton Savings Bank's most frequently originated loan type of loans were Conventional, with 442 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 158 $57,170,000 $361,835 $3,384 3.25%
Refi 128 $25,060,000 $195,781 $2,334 2.98%
Cash Out Refi 124 $26,970,000 $217,500 $2,789 3.12%
Other 22 $2,080,000 $94,545 $1,135 3.53%
Home Improvement 10 $620,000 $62,000 $1,131 3.46%

For the 2021, Easthampton Savings Bank's most frequently cited loan purpose of loans were Home Purchase, with 158 originations. The 2nd most popular reason of loans were Refi, with 128 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 276 $67,090,000 $243,080 $3,128 3.21%
15 Year 102 $33,540,000 $328,824 $2,356 2.89%
10 Year 31 $4,855,000 $156,613 $366 3.45%
20 Year 20 $4,590,000 $229,500 $2,577 3.21%
Other 7 $1,685,000 $240,714 $2,802 3.21%
5 Year 6 $140,000 $23,333 $99 3.50%

For the 2021, Easthampton Savings Bank's most frequently cited loan length of loans were 30 Year, with 276 originations. The 2nd most popular length of loans were 15 Year, with 102 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 253 $50,025,000 $197,727
$1k-2k 139 $34,145,000 $245,647
$2k-3k 5 $1,375,000 $275,000
$3k-4k 4 $1,020,000 $255,000

$3,128 of loans were Easthampton Savings Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 253 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 216 $45,620,000 $211,204
3-4% 209 $62,785,000 $300,407
4-5% 14 $2,130,000 $152,143
<2.5% 3 $1,365,000 $455,000

During 2021, Easthampton Savings Bank's average interest rate of loans were 3.21%, while their most frequently originated rate bucket of loans were 2.5-3%, with 216 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 190 $51,790,000 $272,579 $3,098 3.15%
$100k-200k 164 $24,790,000 $151,159 $2,572 3.08%
$100,000 or less 54 $3,190,000 $59,074 $1,223 3.37%
$400k-600k 28 $13,110,000 $468,214 $3,598 3.10%
$1MM+ 3 $16,705,000 $5,568,333 $0 3.71%
$600k-1MM 3 $2,315,000 $771,667 $0 3.57%

2021 saw Easthampton Savings Bank place emphasis on $200k-400k loans with 190 originations, totaling $51,790,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 112 $23,880,000 $213,214 $2,714 3.18%
$50k-75k 90 $17,430,000 $193,667 $2,939 3.15%
$75k-100k 79 $15,815,000 $200,190 $2,643 3.09%
$50k or less 63 $7,955,000 $126,270 $2,185 3.20%
$150k-250k 62 $18,500,000 $298,387 $2,764 3.09%
$250k+ 19 $6,775,000 $356,579 $3,303 3.05%

Easthampton Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 112 originations. The second most popular income band? $50k-75k, with 90 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 126 $26,540,000 $210,635 $2,758 3.08%
<20% 67 $14,265,000 $212,910 $2,552 3.05%
30-36% 65 $13,145,000 $202,231 $2,533 3.19%
42% 19 $3,715,000 $195,526 $2,207 3.24%
44% 18 $3,520,000 $195,556 $3,009 3.25%
40% 17 $3,655,000 $215,000 $2,531 3.31%
47% 14 $3,520,000 $251,429 $3,018 3.04%
39% 14 $2,870,000 $205,000 $2,510 3.04%
37% 13 $3,355,000 $258,077 $3,459 3.11%
41% 13 $2,055,000 $158,077 $2,492 3.43%
36% 10 $2,040,000 $204,000 $2,609 3.21%
46% 9 $1,985,000 $220,556 $2,977 3.04%
43% 8 $1,790,000 $223,750 $3,432 3.02%
38% 8 $1,540,000 $192,500 $2,485 3.08%
45% 7 $1,325,000 $189,286 $2,824 2.98%
48% 6 $2,010,000 $335,000 $3,196 3.31%
49% 4 $1,310,000 $327,500 $3,677 3.13%
50-60% 2 $500,000 $250,000 $2,698 3.13%

Easthampton Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 126 originations. The next most common DTI ratio? <20%, with 67 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 389 $81,635,000 $209,859 $2,697 3.15%
Not applicable 10 $19,860,000 $1,986,000 $0 3.82%
Not provided 26 $5,770,000 $221,923 $2,706 3.00%
Black 9 $2,535,000 $281,667 $3,188 3.17%
Asian 7 $1,985,000 $283,571 $2,992 3.14%
American Indian 1 $115,000 $115,000 $2,154 3.13%

Approval Rates

Total approvals of all applications
90.37%

Easthampton Savings Bank has an average approval rate.

Pick Rate

Approvals leading to origination
77.21%

Easthampton Savings Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 442 $111,900,000 $253,167

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
442 $111,900,000 $253,167

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 48 $5,770,000 $120,208 $2,119 3.03%
40-60% 116 $23,120,000 $199,310 $2,560 2.93%
60-80% 168 $60,690,000 $361,250 $2,987 3.27%
80-100% 84 $21,020,000 $250,238 $3,417 3.15%
Under 20% 26 $1,300,000 $50,000 $610 3.63%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Easthampton Savings Bank 134 College Highway Southampton, MA 1073 Full Service B&M $103,641
Easthampton Savings Bank 297 King Street Northampton, MA 1060 Full Service B&M $85,369
Easthampton Savings Bank 36 Main St Easthampton, MA 1027 Full Service B&M $613,441
Easthampton Savings Bank 605 Granby Road South Hadley, MA 1075 Full Service B&M $80,291
Easthampton Savings Bank 70 East Street Hadley, MA 1035 Full Service B&M $123,824
Easthampton Savings Bank 770 Main Street Agawam, MA 1001 Full Service B&M $71,880
Easthampton Savings Bank 85 Broad Street Westfield, MA 1085 Full Service B&M $76,228
Easthampton Savings Bank 170 Sargeant Street Holyoke, MA 1040 Full Service B&M $21,308
Easthampton Savings Bank 175 State Street, Intersection Rt. 202 &21 Belchertown, MA 1007 Full Service B&M $40,473
Easthampton Savings Bank 21 Locust Street Northampton, MA 1060 Full Service B&M $91,604
Easthampton Savings Bank 241 Northampton Street Easthampton, MA 1027 Full Service B&M $74,738
Easthampton Savings Bank 253 Triangle Street Amherst, MA 1002 Full Service B&M $17,221

For 2021, Easthampton Savings Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $51,804
Net interest income $46,048
Total noninterest income $9,620
Gross Fiduciary activities income $0
Service charges on deposit accounts $2,186
Trading account gains and fees $0
Additional Noninterest Income $7,434
Pre-tax net operating income $19,913
Securities gains (or losses, -) $-37
Income before extraordinary items $14,754
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $14,754
Minority interest net income $0
Net income $14,754
Sale, conversion, retirement of capital stock, net $0
Net operating income $14,783

Easthampton Savings Bank's gross interest income from loans was $51,804,000.
Easthampton Savings Bank's net interest income from loans was $46,048,000.
Easthampton Savings Bank's fee based income from loans was $2,186,000.
Easthampton Savings Bank's net income from loans was $14,754,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $5,756
Provision for credit losses $3,499
Total noninterest expense $32,256
Salaries and employee benefits $17,808
Premises and equipment expense $3,967
Additional noninterest expense $10,481
Applicable income taxes $5,122
Net charge-offs $-22
Cash dividends $0

Easthampton Savings Bank's interest expense for loans was $5,756,000.
Easthampton Savings Bank's payroll and benefits expense were $17,808,000.
Easthampton Savings Bank's property, plant and equipment expenses $3,967,000.

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 $1,436,363
Deposits held in domestic offices $1,436,363
Deposits by Individuals, partnerships, and corporations $1,209,753
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $219,342
Deposits by Commercial banks and other depository institutions in U.S. $7,269
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $181,008
Demand deposits $40,783
Nontransaction accounts $1,255,356
Money market deposit accounts (MMDAs) $171,449
Other savings deposits (excluding MMDAs) $536,339
Total time deposits $547,568
Total time and savings deposits $1,395,581
Noninterest-bearing deposits $172,627
Interest-bearing deposits $1,263,736
Retail deposits $1,263,118
IRAs and Keogh plan accounts $67,714
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,689,101
Cash & Balances due from depository institutions $152,255
Interest-bearing balances $137,365
Total securities $178,231
Federal funds sold & reverse repurchase $0
Net loans and leases $1,253,283
Loan and leases loss allowance $18,485
Trading account assets $0
Bank premises and fixed assets $27,571
Other real estate owned $0
Goodwill and other intangibles $1,382
All other assets $76,379

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,689,101
Total Liabilities $1,533,273
Total deposits $1,436,363
Interest-bearing deposits $1,263,736
Deposits held in domestic offices $1,436,363
% insured (estimated) $70
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $77,583
Subordinated debt $0
All other liabilities $19,327

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,253,283
Loan and leases loss allowance $18,485
Total loans and leases (domestic) $1,271,768
All real estate loans $1,045,030
Real estate loans in domestic offices $1,045,030
Construction and development loans $12,012
Residential 1-4 family construction $2,738
Other construction, all land development and other land $9,274
Loans secured by nonfarm nonresidential properties $496,474
Nonfarm nonresidential secured by owner-occupied properties $119,599
Commercial real estate & other non-farm, non-residential $376,875
Multifamily residential real estate $156,234
1-4 family residential loans $378,701
Farmland loans $1,609
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $205,647
To non-U.S. addressees $0
Loans to individuals $3,343
Credit card loans $0
Related Plans $226
Consumer Auto Loans $2,438
Other loans to individuals $679
All other loans & leases $17,748
Loans to foreign governments and official institutions $0
Other loans $0
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 $296
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Easthampton Savings Bank had $1,253,283,000 of loans outstanding in 2021. $1,045,030,000 of loans were in real estate loans. $12,012,000 of loans were in development loans. $156,234,000 of loans were in multifamily mortgage loans. $378,701,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,438,000 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 252 $51,378 $203,881
Nonfarm, nonresidential loans - <$100k 70 $565 $8,071
Nonfarm, nonresidential loans - $100-250k 64 $6,920 $108,125
Nonfarm, nonresidential loans - $250k-1MM 118 $43,893 $371,975
Commercial & Industrial, US addressed loans - <$1MM 1,166 $30,613 $26,255
Commercial & Industrial, US addressed loans - <$100k 974 $5,586 $5,735
Commercial & Industrial, US addressed loans - $100-250k 111 $8,641 $77,847
Commercial & Industrial, US addressed loans - $250k-1MM 81 $16,386 $202,296
Farmland loans - <$1MM 4 $751 $187,750
Farmland loans - <$100k 1 $48 $48,000
Farmland loans - $100-250k 1 $132 $132,000
Farmland loans - $250k-1MM 2 $571 $285,500