Century Bank And Trust Company Mortgage Rates, Fees & Info
Somerville, MALEI: 549300NFO21T5DF35226
Tax ID: 04-6202762
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Bank Data
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, Vineyard Haven, Providence, and Worcester among others. We have data for 14 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.
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Originations
1,212Origination Dollar Volume (All Markets)
$305,760,000Employee count
432Top 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) | 1,133 | $281,515,000 | $248,469 | $0 | 3.27% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 19 | $7,845,000 | $412,895 | $0 | 3.24% |
| Outside of Metro Areas | 5 | $4,255,000 | $851,000 | $0 | 2.66% |
| Vineyard Haven, MA (FHA|USDA|VA) | 5 | $3,675,000 | $735,000 | $0 | 3.37% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 15 | $2,725,000 | $181,667 | $0 | 3.12% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 19 | $2,465,000 | $129,737 | $0 | 2.94% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 8 | $1,650,000 | $206,250 | $0 | 3.69% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $0 | 2.49% |
| Laconia, NH (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $0 | 2.99% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 2.99% |
| Concord, NH (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 2.99% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $0 | 0.00% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Their top states include:
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| HELOC | 785 | $190,475,000 | $242,643 | n/a | 3.26% |
| Conventional | 427 | $115,285,000 | $269,988 | $0 | 0.00% |
For 2019, Century Bank And Trust Company's most frequently originated type of loan was HELOC, with 785 originations. Their 2nd most popular type was Conventional, with 427 originations.
Loan Reason
For 2019, Century Bank And Trust Company's most frequently cited loan purpose was Refi, with 450 originations. The 2nd most popular reason was Home Improvement, with 409 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20 Year | 785 | $190,475,000 | $242,643 | $0 | 3.26% |
| Other | 427 | $115,285,000 | $269,988 | $0 | 0.00% |
For 2019, Century Bank And Trust Company's most frequently cited loan duration was 20 Year, with 785 originations. The 2nd most popular length was Other, with 427 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 2.5-3% | 567 | $132,645,000 | $233,942 |
| <2.5% | 102 | $29,750,000 | $291,667 |
| 4-5% | 80 | $22,140,000 | $276,750 |
| 6-7% | 27 | $4,425,000 | $163,889 |
| 5-6% | 9 | $1,515,000 | $168,333 |
During 2019, Century Bank And Trust Company's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 2.5-3%, with 567 originations.
Loan Sizing
2019 saw Century Bank And Trust Company place emphasis on $100,000 or less loans with 413 originations, totaling $17,135,000 in origination value.
Applicant Income
Century Bank And Trust Company lent most frequently to those with incomes in the $150k-250k range, with 315 originations. The second most popular income band? $100k-150k, with 297 originations.
Applicant Debt to Income Ratio
Century Bank And Trust Company lent most frequently to those with DTI ratios of Exempt%, with 427 originations. The next most common DTI ratio? 20-30%, with 219 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications83.66%
Century Bank And Trust Company has a below average approval rate.
Pick Rate
Approvals leading to origination84.32%
Century Bank And Trust Company has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 427 | $115,285,000 | $269,988 |
| NA | 785 | $190,475,000 | $242,643 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 5 | $6,065,000 | $1,213,000 |
| Single Family (1-4 Units):Site-Built | 1,207 | $299,695,000 | $248,297 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| CENTERSTATE BANK CORPORATION | Conventional home mortgage | Trouble during payment process | 1 | 50.0% |
| CENTERSTATE BANK CORPORATION | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 50.0% |
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 | $2,215,236 |
| Century Bank and Trust Company | 1184 Bolyston Street Chestnut Hill, MA 2467 | Full Service B&M | $68,152 |
| Century Bank and Trust Company | 12 Peabody Square Peabody, MA 1960 | Full Service B&M | $36,079 |
| Century Bank and Trust Company | 134 Cambridge Street Burlington, MA 1803 | Full Service B&M | $69,249 |
| Century Bank and Trust Company | 1354 Beacon Street Brookline, MA 2446 | Full Service B&M | $61,511 |
| Century Bank and Trust Company | 136 State Street Boston, MA 2110 | Full Service B&M | $35,773 |
| Century Bank and Trust Company | 140 Ferry Street Malden, MA 2148 | Full Service B&M | $65,073 |
| Century Bank and Trust Company | 15 Elm Street Andover, MA 1810 | Full Service B&M | $34,081 |
| Century Bank and Trust Company | 1763 Revere Beach Parkway Everett, MA 2149 | Full Service B&M | $80,349 |
| Century Bank and Trust Company | 2 State Street Lynn, MA 1901 | Full Service B&M | $41,869 |
| Century Bank and Trust Company | 210 Boylston Street Chestnut Hill, MA 2467 | Full Service B&M | $110,520 |
| Century Bank and Trust Company | 2309 Massachusetts Avenue Cambridge, MA 2140 | Full Service B&M | $101,727 |
| Century Bank and Trust Company | 24 Federal Street Boston, MA 2110 | Full Service B&M | $102,372 |
| Century Bank and Trust Company | 703 Granite Street Braintree, MA 2184 | Full Service B&M | $76,009 |
| Century Bank and Trust Company | 258 Washington Street Wellesley, MA 2481 | Full Service B&M | $54,971 |
| Century Bank and Trust Company | 275 Hanover Street Boston, MA 2113 | Full Service B&M | $122,905 |
| Century Bank and Trust Company | 299 Mishawum Road Woburn, MA 1801 | Full Service B&M | $69,323 |
| Century Bank and Trust Company | 300 Western Avenue Boston, MA 2134 | Full Service B&M | $46,197 |
| Century Bank and Trust Company | 32 Langley Road Newton Center, MA 2459 | Full Service B&M | $188,371 |
| Century Bank and Trust Company | 37 Central Street Salem, MA 1970 | Full Service B&M | $25,201 |
| Century Bank and Trust Company | 400 Mystic Avenue Medford, MA 2155 | Full Service B&M | $185,298 |
| Century Bank and Trust Company | 428 Rantoul Street Beverly, MA 1915 | Full Service B&M | $30,384 |
| Century Bank and Trust Company | 437 Boylston Street Boston, MA 2116 | Full Service B&M | $71,857 |
| Century Bank and Trust Company | 503 Riverside Avenue, Fellsway Plaza Medford, MA 2155 | Full Service B&M | $39,968 |
| Century Bank and Trust Company | 522 Main Street Winchester, MA 1890 | Full Service B&M | $40,663 |
| Century Bank and Trust Company | 651 Hancock Street Quincy, MA 2170 | Full Service B&M | $75,758 |
| Century Bank and Trust Company | One Salem Street Medford, MA 2155 | Full Service B&M | $48,973 |
For 2019, Century Bank And Trust Company had 27 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $159,210 |
| Net interest income | $97,437 |
| Total noninterest income | $18,104 |
| Gross Fiduciary activities income | $695 |
| Service charges on deposit accounts | $8,960 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $8,449 |
| Pre-tax net operating income | $42,405 |
| Securities gains (or losses, -) | $131 |
| Income before extraordinary items | $41,063 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $41,063 |
| Minority interest net income | $0 |
| Net income | $41,063 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $40,935 |
Century Bank And Trust Company's gross interest income from loans was $159,210,000.
Century Bank And Trust Company's net interest income from loans was $97,437,000.
Century Bank And Trust Company's fee based income from loans was $8,960,000.
Century Bank And Trust Company's net income from loans was $41,063,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $61,773 |
| Provision for credit losses | $1,250 |
| Total noninterest expense | $71,886 |
| Salaries and employee benefits | $43,932 |
| Premises and equipment expense | $9,606 |
| Additional noninterest expense | $18,348 |
| Applicable income taxes | $1,473 |
| Net charge-offs | $208 |
| Cash dividends | $5,000 |
Century Bank And Trust Company's interest expense for loans was $61,773,000.
Century Bank And Trust Company's payroll and benefits expense were $43,932,000.
Century Bank And Trust Company's property, plant and equipment expenses $9,606,000.
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 | $4,403,287 |
| Deposits held in domestic offices | $4,403,287 |
| Deposits by Individuals, partnerships, and corporations | $2,602,017 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $1,796,915 |
| Deposits by Commercial banks and other depository institutions in U.S. | $4,355 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $318,783 |
| Demand deposits | $168,640 |
| Nontransaction accounts | $4,084,504 |
| Money market deposit accounts (MMDAs) | $2,758,755 |
| Other savings deposits (excluding MMDAs) | $768,181 |
| Total time deposits | $557,569 |
| Total time and savings deposits | $4,234,647 |
| Noninterest-bearing deposits | $715,899 |
| Interest-bearing deposits | $3,687,388 |
| Retail deposits | $4,020,123 |
| IRAs and Keogh plan accounts | $53,781 |
| Brokered deposits | $40,355 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $5,476,098 |
| Cash & Balances due from depository institutions | $258,693 |
| Interest-bearing balances | $214,273 |
| Total securities | $2,613,265 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $2,396,534 |
| Loan and leases loss allowance | $29,585 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $46,474 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $3,867 |
| All other assets | $157,265 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $5,476,098 |
| Total Liabilities | $5,122,609 |
| Total deposits | $4,403,287 |
| Interest-bearing deposits | $3,687,388 |
| Deposits held in domestic offices | $4,403,287 |
| % insured (estimated) | $39 |
| Federal funds purchased and repurchase agreements | $266,045 |
| Trading liabilities | $0 |
| Other borrowed funds | $383,645 |
| Subordinated debt | $0 |
| All other liabilities | $69,632 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $2,396,534 |
| Loan and leases loss allowance | $29,585 |
| Total loans and leases (domestic) | $2,426,119 |
| All real estate loans | $1,009,563 |
| Real estate loans in domestic offices | $1,009,563 |
| Construction and development loans | $9,346 |
| Residential 1-4 family construction | $568 |
| Other construction, all land development and other land | $8,778 |
| Loans secured by nonfarm nonresidential properties | $285,878 |
| Nonfarm nonresidential secured by owner-occupied properties | $220,333 |
| Commercial real estate & other non-farm, non-residential | $65,545 |
| Multifamily residential real estate | $36,819 |
| 1-4 family residential loans | $677,520 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $237,842 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $4,891 |
| Credit card loans | $0 |
| Related Plans | $657 |
| Consumer Auto Loans | $94 |
| Other loans to individuals | $4,140 |
| All other loans & leases | $1,176,040 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $11,360 |
| 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 | $2,361 |
| Non 1-4 family restructured loans & leases | $2,361 |
| Total loans and leases (foreign) | $0 |
Century Bank and Trust Company had $2,396,534,000 of loans outstanding in 2019. $1,009,563,000 of loans were in real estate loans. $9,346,000 of loans were in development loans. $36,819,000 of loans were in multifamily mortgage loans. $677,520,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $94,000 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 | 159 | $52,481 | $330,069 |
| Nonfarm, nonresidential loans - <$100k | 10 | $305 | $30,500 |
| Nonfarm, nonresidential loans - $100-250k | 30 | $3,865 | $128,833 |
| Nonfarm, nonresidential loans - $250k-1MM | 119 | $48,311 | $405,975 |
| Commercial & Industrial, US addressed loans - <$1MM | 137 | $19,038 | $138,964 |
| Commercial & Industrial, US addressed loans - <$100k | 33 | $795 | $24,091 |
| Commercial & Industrial, US addressed loans - $100-250k | 23 | $1,911 | $83,087 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 81 | $16,332 | $201,630 |