Century Bank And Trust Company Mortgage Rates, Fees & Info

Somerville, MA

LEI: 549300NFO21T5DF35226

Tax ID: 04-6202762

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    Century Bank And Trust Company is a smaller bank specializing in Refi and Home Purchase loans. Century Bank And Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Manchester, Providence, and Worcester among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Century Bank And Trust Company has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Century Bank And Trust Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    1,101

    Origination Dollar Volume (All Markets)

    $267,925,000

    Employee count

    432

    Awards

    Century Bank and Trust Company 30 Year Conventional Loans gold Century Bank and Trust Company 30 Year Conventional Loans bronze Century Bank and Trust Company 30 Year Conventional Loans gold
    Show all (3) awards

    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) 1,048 $253,950,000 $242,319 $1,542 3.19%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 26 $7,770,000 $298,846 $3,255 2.84%
    Outside of Metro Areas 3 $2,245,000 $748,333 $0 3.36%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 5 $1,185,000 $237,000 $2,392 3.49%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 8 $1,180,000 $147,500 $241 3.31%
    WORCESTER, MA-CT (FHA|USDA|VA) 5 $705,000 $141,000 $226 2.69%
    Lebanon, NH-VT (FHA|USDA|VA) 3 $465,000 $155,000 $0 3.07%
    SPRINGFIELD, MA (FHA|USDA|VA) 1 $245,000 $245,000 $2,560 4.13%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $155,000 $155,000 $0 4.75%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $25,000 $25,000 $0 2.49%
    Century Bank And Trust Company's top markets include Boston, Barnstable Town, Manchester, Providence, and Worcester among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Century Bank and Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Triangle Credit Union
    Similarity Rank: 147
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165
    Coastal Heritage Bank
    Similarity Rank: 180
    Bristol County Savings Bank
    Similarity Rank: 210
    Milford Federal Bank
    Similarity Rank: 285
    Methuen Cooperative Bank
    Similarity Rank: 330
    The Cooperative Bank
    Similarity Rank: 380

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 739 $178,695,000 $241,806 n/a 2.74%
    Conventional 362 $89,230,000 $246,492 $1,568 4.38%

    For 2018, Century Bank And Trust Company's most frequently originated type of loan was HELOC, with 739 originations. Their 2nd most popular type was Conventional, with 362 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 440 $123,300,000 $280,227 $2,104 3.27%
    Home Improvement 317 $36,675,000 $115,694 $317 2.96%
    Other 196 $41,360,000 $211,020 $839 2.80%
    Home Purchase 146 $65,860,000 $451,096 $3,040 3.77%
    Cash Out Refi 2 $730,000 $365,000 $2,377 3.88%

    For 2018, Century Bank And Trust Company's most frequently cited loan purpose was Refi, with 440 originations. The 2nd most popular reason was Home Improvement, with 317 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 774 $182,750,000 $236,111 $1,347 2.83%
    30 Year 138 $53,170,000 $385,290 $2,809 4.21%
    Other 92 $7,980,000 $86,739 $252 4.49%
    15 Year 41 $11,335,000 $276,463 $1,636 4.33%
    10 Year 32 $6,800,000 $212,500 $351 4.61%
    5 Year 24 $5,890,000 $245,417 $223 4.48%

    For 2018, Century Bank And Trust Company's most frequently cited loan duration was 20 Year, with 774 originations. The 2nd most popular length was 30 Year, with 138 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 316 $70,040,000 $221,646

    Century Bank And Trust Company's average total fees were $2,809, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 316 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 621 $143,475,000 $231,039
    4-5% 240 $68,060,000 $283,583
    3-4% 104 $42,220,000 $405,962
    5-6% 43 $12,015,000 $279,419
    6-7% 5 $475,000 $95,000

    During 2018, Century Bank And Trust Company's average interest rate for loans was 4.21%, while their most frequently originated rate bucket for loans was <2.5%, with 621 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 362 $16,530,000 $45,663 $303 3.12%
    $200k-400k 267 $73,065,000 $273,652 $2,503 3.27%
    $100k-200k 248 $32,740,000 $132,016 $1,402 3.04%
    $400k-600k 135 $65,045,000 $481,815 $3,026 3.33%
    $600k-1MM 65 $48,255,000 $742,385 $3,665 3.22%
    $1MM+ 24 $32,290,000 $1,345,417 $5,216 3.39%

    2018 saw Century Bank And Trust Company place emphasis on $100,000 or less loans with 362 originations, totaling $16,530,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 268 $65,410,000 $244,067 $1,633 3.12%
    $100k-150k 264 $55,400,000 $209,848 $1,408 3.25%
    $250k+ 182 $74,170,000 $407,527 $1,976 3.07%
    $75k-100k 149 $26,345,000 $176,812 $1,499 3.23%
    $50k-75k 144 $21,390,000 $148,542 $1,325 3.11%
    $50k or less 62 $7,530,000 $121,452 $1,383 2.94%

    Century Bank And Trust Company lent most frequently to those with incomes in the $150k-250k range, with 268 originations. The second most popular income band? $100k-150k, with 264 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 332 $74,930,000 $225,693 $1,344 3.10%
    <20% 197 $47,825,000 $242,766 $1,655 3.05%
    30-36% 167 $39,175,000 $234,581 $1,671 3.24%
    50-60% 62 $14,140,000 $228,065 $217 2.78%
    >60% 48 $12,730,000 $265,208 $2,749 2.96%
    39% 37 $7,335,000 $198,243 $1,748 3.39%
    37% 26 $4,660,000 $179,231 $962 3.30%
    40% 26 $7,680,000 $295,385 $2,468 3.28%
    41% 26 $6,330,000 $243,462 $1,696 3.84%
    43% 23 $5,595,000 $243,261 $1,231 3.56%
    36% 21 $5,785,000 $275,476 $2,512 3.60%
    38% 20 $3,230,000 $161,500 $1,307 3.55%
    42% 20 $4,640,000 $232,000 $1,494 3.65%
    44% 16 $2,500,000 $156,250 $241 3.13%
    46% 15 $4,755,000 $317,000 $0 2.89%
    47% 15 $3,645,000 $243,000 $1,970 3.21%
    48% 14 $3,800,000 $271,429 $0 2.99%
    45% 13 $1,795,000 $138,077 $229 2.85%
    49% 5 $1,275,000 $255,000 $0 2.39%

    Century Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 332 originations. The next most common DTI ratio? <20%, with 197 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 794 $179,040,000 $225,491 $1,503 3.12%
    Not provided 164 $46,450,000 $283,232 $1,695 3.33%
    Not applicable 16 $14,910,000 $931,875 $0 4.99%
    Asian 67 $13,225,000 $197,388 $1,309 3.09%
    Black 29 $5,555,000 $191,552 $2,010 3.26%
    Asian Indian 9 $3,365,000 $373,889 $2,392 2.76%
    Chinese 8 $1,920,000 $240,000 $2,271 3.29%
    American Indian 7 $1,615,000 $230,714 $2,413 4.30%
    Other Asian 5 $1,425,000 $285,000 $0 2.29%
    Other Pacific Islander 2 $420,000 $210,000 $0 2.49%

    Approval Rates

    Total approvals of all applications
    82.94%

    Century Bank And Trust Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.47%

    Century Bank And Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,101 $267,925,000 $243,347

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $9,395,000 $1,342,143
    Single Family (1-4 Units):Site-Built 1,094 $258,530,000 $236,316

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 278 $67,500,000 $242,806 $1,581 3.03%
    40-60% 167 $65,255,000 $390,749 $2,617 3.20%
    60-80% 176 $82,990,000 $471,534 $2,875 3.55%
    80-100% 33 $12,655,000 $383,485 $2,892 4.20%
    Under 20% 446 $39,370,000 $88,274 $291 3.01%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    CENTRAL BANC MORTGAGE CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Century Bank and Trust Company 102 Fellsway West Somerville, MA 2145 Full Service B&M $2,114,732
    Century Bank and Trust Company 1184 Bolyston Street Chestnut Hill, MA 2467 Full Service B&M $58,655
    Century Bank and Trust Company 12 Peabody Square Peabody, MA 1960 Full Service B&M $37,150
    Century Bank and Trust Company 134 Cambridge Street Burlington, MA 1803 Full Service B&M $66,453
    Century Bank and Trust Company 1354 Beacon Street Brookline, MA 2446 Full Service B&M $67,352
    Century Bank and Trust Company 136 State Street Boston, MA 2110 Full Service B&M $36,935
    Century Bank and Trust Company 140 Ferry Street Malden, MA 2148 Full Service B&M $68,599
    Century Bank and Trust Company 15 Elm Street Andover, MA 1810 Full Service B&M $29,069
    Century Bank and Trust Company 1763 Revere Beach Parkway Everett, MA 2149 Full Service B&M $69,684
    Century Bank and Trust Company 2 State Street Lynn, MA 1901 Full Service B&M $38,560
    Century Bank and Trust Company 210 Boylston Street Chestnut Hill, MA 2467 Full Service B&M $102,824
    Century Bank and Trust Company 2309 Massachusetts Avenue Cambridge, MA 2140 Full Service B&M $84,562
    Century Bank and Trust Company 24 Federal Street Boston, MA 2110 Full Service B&M $119,116
    Century Bank and Trust Company 258 Washington Street Wellesley, MA 2481 Full Service B&M $48,480
    Century Bank and Trust Company 275 Hanover Street Boston, MA 2113 Full Service B&M $111,330
    Century Bank and Trust Company 299 Mishawum Road Woburn, MA 1801 Full Service B&M $58,778
    Century Bank and Trust Company 300 Western Avenue Boston, MA 2134 Full Service B&M $42,467
    Century Bank and Trust Company 32 Langley Road Newton Center, MA 2459 Full Service B&M $145,822
    Century Bank and Trust Company 37 Central Street Salem, MA 1970 Full Service B&M $25,961
    Century Bank and Trust Company 400 Mystic Avenue Medford, MA 2155 Full Service B&M $165,760
    Century Bank and Trust Company 428 Rantoul Street Beverly, MA 1915 Full Service B&M $28,667
    Century Bank and Trust Company 437 Boylston Street Boston, MA 2116 Full Service B&M $68,947
    Century Bank and Trust Company 503 Riverside Avenue Medford, MA 2155 Full Service B&M $49,062
    Century Bank and Trust Company 522 Main Street Winchester, MA 1890 Full Service B&M $37,253
    Century Bank and Trust Company 651 Hancock Street Quincy, MA 2170 Full Service B&M $72,649
    Century Bank and Trust Company 703 Granite Street Braintree, MA 2184 Full Service B&M $74,788
    Century Bank and Trust Company One Salem Street Medford, MA 2155 Full Service B&M $42,940

    For 2018, Century Bank And Trust Company had 27 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $137,129
    Net interest income $94,122
    Total noninterest income $15,730
    Gross Fiduciary activities income $637
    Service charges on deposit accounts $8,391
    Trading account gains and fees $0
    Additional Noninterest Income $6,702
    Pre-tax net operating income $39,096
    Securities gains (or losses, -) $331
    Income before extraordinary items $37,513
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $37,513
    Minority interest net income $0
    Net income $37,513
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $37,198

    Century Bank And Trust Company's gross interest income from loans was $137,129,000.
    Century Bank And Trust Company's net interest income from loans was $94,122,000.
    Century Bank And Trust Company's fee based income from loans was $8,391,000.
    Century Bank And Trust Company's net income from loans was $37,513,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $43,007
    Provision for credit losses $1,350
    Total noninterest expense $69,406
    Salaries and employee benefits $42,710
    Premises and equipment expense $9,349
    Additional noninterest expense $17,347
    Applicable income taxes $1,914
    Net charge-offs $-938
    Cash dividends $4,750

    Century Bank And Trust Company's interest expense for loans was $43,007,000.
    Century Bank And Trust Company's payroll and benefits expense were $42,710,000.
    Century Bank And Trust Company's property, plant and equipment expenses $9,349,000.

    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 $4,408,227
    Deposits held in domestic offices $4,408,227
    Deposits by Individuals, partnerships, and corporations $2,865,626
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,538,597
    Deposits by Commercial banks and other depository institutions in U.S. $4,004
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $220,275
    Demand deposits $164,395
    Nontransaction accounts $4,187,952
    Money market deposit accounts (MMDAs) $2,696,941
    Other savings deposits (excluding MMDAs) $928,138
    Total time deposits $562,872
    Total time and savings deposits $4,243,832
    Noninterest-bearing deposits $814,622
    Interest-bearing deposits $3,593,605
    Retail deposits $3,880,256
    IRAs and Keogh plan accounts $72,178
    Brokered deposits $234,654
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $5,146,944
    Cash & Balances due from depository institutions $342,535
    Interest-bearing balances $252,963
    Total securities $2,384,974
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,257,035
    Loan and leases loss allowance $28,543
    Trading account assets $0
    Bank premises and fixed assets $23,921
    Other real estate owned $2,225
    Goodwill and other intangibles $3,891
    All other assets $132,363

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $5,146,943
    Total Liabilities $4,824,168
    Total deposits $4,408,227
    Interest-bearing deposits $3,593,605
    Deposits held in domestic offices $4,408,227
    % insured (estimated) $37
    Federal funds purchased and repurchase agreements $154,240
    Trading liabilities $0
    Other borrowed funds $202,378
    Subordinated debt $0
    All other liabilities $59,323

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,257,035
    Loan and leases loss allowance $28,543
    Total loans and leases (domestic) $2,285,578
    All real estate loans $977,380
    Real estate loans in domestic offices $977,380
    Construction and development loans $13,628
    Residential 1-4 family construction $0
    Other construction, all land development and other land $13,628
    Loans secured by nonfarm nonresidential properties $294,137
    Nonfarm nonresidential secured by owner-occupied properties $231,327
    Commercial real estate & other non-farm, non-residential $62,810
    Multifamily residential real estate $29,585
    1-4 family residential loans $640,030
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $210,356
    To non-U.S. addressees $0
    Loans to individuals $5,199
    Credit card loans $0
    Related Plans $706
    Consumer Auto Loans $114
    Other loans to individuals $4,379
    All other loans & leases $1,092,643
    Loans to foreign governments and official institutions $0
    Other loans $11,914
    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 $2,559
    Non 1-4 family restructured loans & leases $2,559
    Total loans and leases (foreign) $0

    Century Bank and Trust Company had $2,257,035,000 of loans outstanding in 2018. $977,380,000 of loans were in real estate loans. $13,628,000 of loans were in development loans. $29,585,000 of loans were in multifamily mortgage loans. $640,030,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $114,000 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 154 $53,674 $348,532
    Nonfarm, nonresidential loans - <$100k 11 $342 $31,091
    Nonfarm, nonresidential loans - $100-250k 29 $3,453 $119,069
    Nonfarm, nonresidential loans - $250k-1MM 114 $49,879 $437,535
    Commercial & Industrial, US addressed loans - <$1MM 133 $20,993 $157,842
    Commercial & Industrial, US addressed loans - <$100k 33 $790 $23,939
    Commercial & Industrial, US addressed loans - $100-250k 23 $2,370 $103,043
    Commercial & Industrial, US addressed loans - $250k-1MM 77 $17,833 $231,597