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, Vineyard Haven, Concord, and Worcester among others. We have data for 12 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.

    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

    847

    Origination Dollar Volume (All Markets)

    $270,575,000

    Employee count

    443

    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) 796 $257,190,000 $323,103 $0 2.94%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 25 $8,165,000 $326,600 $0 2.84%
    Vineyard Haven, MA (FHA|USDA|VA) 2 $1,110,000 $555,000 $0 2.75%
    Concord, NH (FHA|USDA|VA) 2 $1,010,000 $505,000 $0 2.49%
    WORCESTER, MA-CT (FHA|USDA|VA) 6 $840,000 $140,000 $0 2.75%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 5 $615,000 $123,000 $0 2.66%
    Laconia, NH (FHA|USDA|VA) 2 $470,000 $235,000 $0 2.49%
    PITTSFIELD, MA (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
    Outside of Metro Areas 1 $305,000 $305,000 $0 3.24%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 5 $235,000 $47,000 $0 2.69%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.24%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
    Century Bank And Trust Company's top markets include Boston, Barnstable Town, Vineyard Haven, Concord, and Worcester among others.

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

    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 258
    Piscataqua Savings Bank
    Similarity Rank: 310
    COMMUNITY CREDIT UNION OF LYNN
    Similarity Rank: 525
    Bridgewater Savings Bank
    Similarity Rank: 600
    Triangle Credit Union
    Similarity Rank: 696
    NEW HAMPSHIRE
    Similarity Rank: 756
    NESC
    Similarity Rank: 772
    East Boston Savings Bank
    Similarity Rank: 798
    Sharon & Crescent United Credit Union
    Similarity Rank: 830
    QUINCY CREDIT UNION
    Similarity Rank: 876

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 442 $114,970,000 $260,113 n/a 2.94%
    Conventional 405 $155,605,000 $384,210 $0 0.00%

    For 2020, Century Bank And Trust Company's most frequently originated type of loan was HELOC, with 442 originations. Their 2nd most popular type was Conventional, with 405 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 350 $151,120,000 $431,771 $0 3.11%
    Home Improvement 247 $24,875,000 $100,709 $0 2.87%
    Home Purchase 125 $59,955,000 $479,640 $0 3.10%
    Other 125 $34,625,000 $277,000 $0 2.76%

    For 2020, Century Bank And Trust Company's most frequently cited loan purpose was Refi, with 350 originations. The 2nd most popular reason was Home Improvement, with 247 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 441 $114,415,000 $259,444 $0 2.93%
    Other 405 $155,605,000 $384,210 $0 0.00%
    1 Year 1 $555,000 $555,000 $0 6.25%

    For 2020, Century Bank And Trust Company's most frequently cited loan duration was 20 Year, with 441 originations. The 2nd most popular length was Other, with 405 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 204 $56,360,000 $276,275
    <2.5% 135 $30,255,000 $224,111
    3-4% 58 $18,400,000 $317,241
    4-5% 34 $6,190,000 $182,059
    5-6% 8 $2,410,000 $301,250
    6-7% 1 $555,000 $555,000

    During 2020, 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 204 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 228 $9,140,000 $40,088 $0 2.92%
    $200k-400k 226 $63,560,000 $281,239 $0 2.99%
    $100k-200k 159 $21,915,000 $137,830 $0 2.89%
    $400k-600k 125 $59,715,000 $477,720 $0 3.01%
    $600k-1MM 69 $51,795,000 $750,652 $0 2.91%
    $1MM+ 40 $64,450,000 $1,611,250 $0 2.86%

    2020 saw Century Bank And Trust Company place emphasis on $100,000 or less loans with 228 originations, totaling $9,140,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 209 $57,845,000 $276,770 $0 2.87%
    $100k-150k 189 $47,045,000 $248,915 $0 2.94%
    $250k+ 182 $93,570,000 $514,121 $0 3.03%
    $75k-100k 106 $23,300,000 $219,811 $0 2.86%
    $50k-75k 95 $15,425,000 $162,368 $0 2.86%
    $50k or less 39 $5,505,000 $141,154 $0 3.03%

    Century Bank And Trust Company lent most frequently to those with incomes in the $150k-250k range, with 209 originations. The second most popular income band? $100k-150k, with 189 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 405 $155,605,000 $384,210 $0 0.00%
    20-30% 110 $30,720,000 $279,273 $0 2.96%
    <20% 107 $28,485,000 $266,215 $0 2.78%
    30-36% 61 $11,145,000 $182,705 $0 2.95%
    50-60% 37 $9,175,000 $247,973 $0 2.90%
    >60% 15 $4,035,000 $269,000 $0 3.18%
    43% 12 $2,920,000 $243,333 $0 2.83%
    38% 12 $4,260,000 $355,000 $0 2.99%
    47% 10 $4,420,000 $442,000 $0 2.97%
    45% 9 $2,155,000 $239,444 $0 3.19%
    41% 9 $3,125,000 $347,222 $0 2.99%
    49% 9 $1,975,000 $219,444 $0 3.13%
    39% 8 $1,200,000 $150,000 $0 2.81%
    44% 7 $1,025,000 $146,429 $0 3.10%
    36% 7 $625,000 $89,286 $0 3.06%
    48% 6 $1,910,000 $318,333 $0 2.62%
    40% 6 $1,220,000 $203,333 $0 3.12%
    37% 6 $2,780,000 $463,333 $0 3.41%
    42% 5 $2,105,000 $421,000 $0 2.85%
    46% 3 $845,000 $281,667 $0 3.07%

    Century Bank And Trust Company lent most frequently to those with DTI ratios of Exempt%, with 405 originations. The next most common DTI ratio? 20-30%, with 110 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 613 $189,845,000 $309,698 $0 2.90%
    Not provided 144 $33,300,000 $231,250 $0 2.94%
    Not applicable 14 $24,740,000 $1,767,143 $0 6.25%
    Asian 38 $10,610,000 $279,211 $0 3.12%
    Black 21 $6,395,000 $304,524 $0 3.04%
    Asian Indian 6 $4,040,000 $673,333 $0 3.41%
    Chinese 2 $500,000 $250,000 $0 2.49%
    American Indian 3 $475,000 $158,333 $0 2.75%
    Other Pacific Islander 5 $415,000 $83,000 $0 3.24%
    Vietnamese 1 $255,000 $255,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    89.54%

    Century Bank And Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.81%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 405 $155,605,000 $384,210
    NA 442 $114,970,000 $260,113

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $17,355,000 $2,479,286
    Single Family (1-4 Units):Site-Built 840 $253,220,000 $301,452

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 147 $35,575,000 $242,007 $0 2.93%
    40-60% 73 $29,575,000 $405,137 $0 3.05%
    60-80% 59 $34,625,000 $586,864 $0 2.96%
    Under 20% 163 $15,195,000 $93,221 $0 2.88%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    CENTERSTATE BANK CORPORATION Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%
    CENTERSTATE BANK CORPORATION Conventional home mortgage Trouble during payment process 2 50.0%
    CENTERSTATE BANK CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 25.0%

    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 $2,808,667
    Century Bank and Trust Company 1184 Bolyston Street Chestnut Hill, MA 2467 Full Service B&M $72,132
    Century Bank and Trust Company 12 Peabody Square Peabody, MA 1960 Full Service B&M $48,419
    Century Bank and Trust Company 134 Cambridge Street Burlington, MA 1803 Full Service B&M $86,420
    Century Bank and Trust Company 1354 Beacon Street Brookline, MA 2446 Full Service B&M $65,564
    Century Bank and Trust Company 136 State Street Boston, MA 2110 Full Service B&M $43,720
    Century Bank and Trust Company 140 Ferry Street Malden, MA 2148 Full Service B&M $81,833
    Century Bank and Trust Company 15 Elm Street Andover, MA 1810 Full Service B&M $46,249
    Century Bank and Trust Company 1763 Revere Beach Parkway Everett, MA 2149 Full Service B&M $97,653
    Century Bank and Trust Company 2 State Street Lynn, MA 1901 Full Service B&M $52,904
    Century Bank and Trust Company 210 Boylston Street Chestnut Hill, MA 2467 Full Service B&M $108,995
    Century Bank and Trust Company 2309 Massachusetts Avenue Cambridge, MA 2140 Full Service B&M $130,157
    Century Bank and Trust Company 24 Federal Street Boston, MA 2110 Full Service B&M $86,125
    Century Bank and Trust Company 258 Washington Street Wellesley, MA 2481 Full Service B&M $48,570
    Century Bank and Trust Company 275 Hanover Street Boston, MA 2113 Full Service B&M $130,148
    Century Bank and Trust Company 299 Mishawum Road Woburn, MA 1801 Full Service B&M $73,853
    Century Bank and Trust Company 300 Western Avenue Boston, MA 2134 Full Service B&M $40,473
    Century Bank and Trust Company 32 Langley Road Newton Center, MA 2459 Full Service B&M $205,747
    Century Bank and Trust Company 37 Central Street Salem, MA 1970 Full Service B&M $28,566
    Century Bank and Trust Company 400 Mystic Avenue Medford, MA 2155 Full Service B&M $428,519
    Century Bank and Trust Company 428 Rantoul Street Beverly, MA 1915 Full Service B&M $31,271
    Century Bank and Trust Company 437 Boylston Street Boston, MA 2116 Full Service B&M $77,038
    Century Bank and Trust Company 503 Riverside Avenue, Fellsway Plaza Medford, MA 2155 Full Service B&M $50,265
    Century Bank and Trust Company 522 Main Street Winchester, MA 1890 Full Service B&M $42,782
    Century Bank and Trust Company 651 Hancock Street Quincy, MA 2170 Full Service B&M $81,604
    Century Bank and Trust Company 703 Granite Street Braintree, MA 2184 Full Service B&M $91,588
    Century Bank and Trust Company One Salem Street Medford, MA 2155 Full Service B&M $56,550

    For 2020, Century Bank And Trust Company had 27 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $149,111
    Net interest income $107,856
    Total noninterest income $18,958
    Gross Fiduciary activities income $669
    Service charges on deposit accounts $8,602
    Trading account gains and fees $0
    Additional Noninterest Income $9,687
    Pre-tax net operating income $47,792
    Securities gains (or losses, -) $-15
    Income before extraordinary items $43,126
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $43,126
    Minority interest net income $0
    Net income $43,126
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $43,139

    Century Bank And Trust Company's gross interest income from loans was $149,111,000.
    Century Bank And Trust Company's net interest income from loans was $107,856,000.
    Century Bank And Trust Company's fee based income from loans was $8,602,000.
    Century Bank And Trust Company's net income from loans was $43,126,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $41,255
    Provision for credit losses $5,825
    Total noninterest expense $73,197
    Salaries and employee benefits $45,244
    Premises and equipment expense $9,666
    Additional noninterest expense $18,287
    Applicable income taxes $4,651
    Net charge-offs $-76
    Cash dividends $5,000

    Century Bank And Trust Company's interest expense for loans was $41,255,000.
    Century Bank And Trust Company's payroll and benefits expense were $45,244,000.
    Century Bank And Trust Company's property, plant and equipment expenses $9,666,000.

    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 1.0%
    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 $5,457,361
    Deposits held in domestic offices $5,457,361
    Deposits by Individuals, partnerships, and corporations $3,509,573
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,944,877
    Deposits by Commercial banks and other depository institutions in U.S. $2,912
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $426,249
    Demand deposits $244,209
    Nontransaction accounts $5,031,113
    Money market deposit accounts (MMDAs) $3,724,613
    Other savings deposits (excluding MMDAs) $753,812
    Total time deposits $552,688
    Total time and savings deposits $5,213,153
    Noninterest-bearing deposits $1,108,899
    Interest-bearing deposits $4,348,462
    Retail deposits $4,919,074
    IRAs and Keogh plan accounts $77,804
    Brokered deposits $184,663
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $6,342,913
    Cash & Balances due from depository institutions $373,998
    Interest-bearing balances $237,265
    Total securities $2,793,164
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,960,343
    Loan and leases loss allowance $35,486
    Trading account assets $0
    Bank premises and fixed assets $52,775
    Other real estate owned $0
    Goodwill and other intangibles $3,438
    All other assets $159,195

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $6,342,913
    Total Liabilities $5,953,189
    Total deposits $5,457,361
    Interest-bearing deposits $4,348,462
    Deposits held in domestic offices $5,457,361
    % insured (estimated) $36
    Federal funds purchased and repurchase agreements $232,090
    Trading liabilities $0
    Other borrowed funds $177,009
    Subordinated debt $0
    All other liabilities $86,729

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,960,343
    Loan and leases loss allowance $35,486
    Total loans and leases (domestic) $2,995,829
    All real estate loans $1,065,907
    Real estate loans in domestic offices $1,065,907
    Construction and development loans $11,251
    Residential 1-4 family construction $1,357
    Other construction, all land development and other land $9,894
    Loans secured by nonfarm nonresidential properties $283,108
    Nonfarm nonresidential secured by owner-occupied properties $212,558
    Commercial real estate & other non-farm, non-residential $70,550
    Multifamily residential real estate $47,621
    1-4 family residential loans $723,829
    Farmland loans $98
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $608,895
    To non-U.S. addressees $0
    Loans to individuals $4,357
    Credit card loans $0
    Related Plans $474
    Consumer Auto Loans $61
    Other loans to individuals $3,822
    All other loans & leases $1,323,317
    Loans to foreign governments and official institutions $0
    Other loans $11,033
    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 $2,201
    Non 1-4 family restructured loans & leases $2,201
    Total loans and leases (foreign) $0

    Century Bank and Trust Company had $2,960,343,000 of loans outstanding in 2020. $1,065,907,000 of loans were in real estate loans. $11,251,000 of loans were in development loans. $47,621,000 of loans were in multifamily mortgage loans. $723,829,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $61,000 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 151 $49,700 $329,139
    Nonfarm, nonresidential loans - <$100k 8 $215 $26,875
    Nonfarm, nonresidential loans - $100-250k 31 $4,206 $135,677
    Nonfarm, nonresidential loans - $250k-1MM 112 $45,279 $404,277
    Commercial & Industrial, US addressed loans - <$1MM 1,064 $119,445 $112,260
    Commercial & Industrial, US addressed loans - <$100k 671 $24,512 $36,531
    Commercial & Industrial, US addressed loans - $100-250k 196 $28,137 $143,556
    Commercial & Industrial, US addressed loans - $250k-1MM 197 $66,796 $339,066
    Farmland loans - <$1MM 1 $98 $98,000
    Farmland loans - <$100k 1 $98 $98,000