Salisbury Bank And Trust Company Mortgage Rates, Fees & Info

Lakeville, CT

LEI: 549300PE7I3IWSUX2B53

Tax ID: 06-0521260

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Salisbury Bank And Trust Company is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Salisbury Bank And Trust Company has a high proportion of conventional loans. Their top markets include Poughkeepsie, Torrington, Pittsfield, Kingston, and Albany among others. Salisbury Bank And Trust Company 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.


Originations

487

Origination Dollar Volume (All Markets)

$237,125,000

Employee count

177

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 152 $73,970,000 $486,645 $0 0.00%
Torrington, CT (FHA|USDA|VA) 154 $63,310,000 $411,104 $0 0.00%
PITTSFIELD, MA (FHA|USDA|VA) 95 $29,745,000 $313,105 $0 0.00%
KINGSTON, NY (FHA|USDA|VA) 21 $25,095,000 $1,195,000 $0 0.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 3 $14,095,000 $4,698,333 $0 0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 8 $11,660,000 $1,457,500 $0 0.00%
Hudson, NY (FHA|USDA|VA) 33 $11,345,000 $343,788 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 11 $4,625,000 $420,455 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 4 $1,480,000 $370,000 $0 0.00%
NORWICH-NEW LONDON, CT (FHA|USDA|VA) 2 $660,000 $330,000 $0 0.00%
Outside of Metro Areas 2 $510,000 $255,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%

Salisbury Bank And Trust Company's top markets include Poughkeepsie, Torrington, Pittsfield, Kingston, and Albany among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 487 $237,125,000 $486,910 $0 0.00%

For the 2021 period, Salisbury Bank And Trust Company's most frequently originated loan type of loans were Conventional, with 487 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 186 $118,970,000 $639,624 $0 0.00%
Cash Out Refi 175 $77,495,000 $442,829 $0 0.00%
Refi 85 $21,345,000 $251,118 $0 0.00%
Other 31 $11,605,000 $374,355 $0 0.00%
Home Improvement 10 $7,710,000 $771,000 $0 0.00%

For the 2021, Salisbury Bank And Trust Company's most frequently cited loan purpose of loans were Home Purchase, with 186 originations. The 2nd most popular reason of loans were Cash Out Refi, with 175 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 487 $237,125,000 $486,910 $0 0.00%

For the 2021, Salisbury Bank And Trust Company's most frequently cited loan length of loans were Other, with 487 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 214 $62,000,000 $289,720 $0 0.00%
$100k-200k 123 $19,255,000 $156,545 $0 0.00%
$400k-600k 76 $36,800,000 $484,211 $0 0.00%
$1MM+ 29 $96,765,000 $3,336,724 $0 0.00%
$600k-1MM 27 $20,875,000 $773,148 $0 0.00%
$100,000 or less 18 $1,430,000 $79,444 $0 0.00%

2021 saw Salisbury Bank And Trust Company place emphasis on $200k-400k loans with 214 originations, totaling $62,000,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 116 $33,590,000 $289,569 $0 0.00%
$150k-250k 100 $37,610,000 $376,100 $0 0.00%
$250k+ 97 $65,645,000 $676,753 $0 0.00%
$75k-100k 58 $14,760,000 $254,483 $0 0.00%
$50k-75k 55 $10,735,000 $195,182 $0 0.00%
$50k or less 32 $4,340,000 $135,625 $0 0.00%

Salisbury Bank And Trust Company lent most frequently to those with incomes in the $100k-150k range, with 116 originations. The second most popular income band? $150k-250k, with 100 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 487 $237,125,000 $486,910 $0 0.00%

Salisbury Bank And Trust Company lent most frequently to those with DTI ratios of Exempt%, with 487 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 348 $124,680,000 $358,276 $0 0.00%
Not applicable 29 $70,445,000 $2,429,138 $0 0.00%
Not provided 101 $38,515,000 $381,337 $0 0.00%
American Indian 1 $1,205,000 $1,205,000 $0 0.00%
Black 4 $860,000 $215,000 $0 0.00%
Asian 3 $715,000 $238,333 $0 0.00%
Korean 1 $705,000 $705,000 $0 0.00%

Approval Rates

Total approvals of all applications
91.28%

Salisbury Bank And Trust Company has an average approval rate.

Pick Rate

Approvals leading to origination
77.72%

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

Points and Fees

Points Originations Total Value Average Loan
Exempt 487 $237,125,000 $486,910

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
487 $237,125,000 $486,910

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
SCHOOLSFIRST FEDERAL CREDIT UNION Home equity loan or line of credit (HELOC) Trouble during payment process 1 50.0%
SCHOOLSFIRST FEDERAL CREDIT UNION Other type of mortgage Struggling to pay mortgage 1 50.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Salisbury Bank and Trust Company 100 Main Street Canaan, CT 6018 Full Service B&M $107,611
Salisbury Bank and Trust Company 275 Main St. New Paltz, NY 12561 Full Service B&M $44,964
Salisbury Bank and Trust Company 5 Bissell St Lakeville, CT 6039 Full Service B&M $222,091
Salisbury Bank and Trust Company 5 Dover Village Plaza Dover Plains, NY 12522 Full Service B&M $75,698
Salisbury Bank and Trust Company 5 Gay Street Sharon, CT 6069 Full Service B&M $124,273
Salisbury Bank and Trust Company 51 Main Street South Egremont, MA 1258 Full Service B&M $34,251
Salisbury Bank and Trust Company 640 North Main Street Sheffield, MA 1257 Full Service B&M $50,180
Salisbury Bank and Trust Company 701 Route 9 Fishkill, NY 12524 Full Service B&M $98,416
Salisbury Bank and Trust Company 801 Auto Park Pl Newburgh, NY 12550 Full Service B&M $140,197
Salisbury Bank and Trust Company 87 Main Street Millerton, NY 12546 Full Service B&M $105,426
Salisbury Bank and Trust Company 11 Garden Street Poughkeepsie, NY 12601 Full Service B&M $150,552
Salisbury Bank and Trust Company 18 Main Street Salisbury, CT 6068 Full Service B&M $49,946
Salisbury Bank and Trust Company 2064 New Hackensack Road, Suite 1 Poughkeepsie, NY 12603 Full Service B&M $16,371
Salisbury Bank and Trust Company 210 Main Street Great Barrington, MA 1230 Full Service B&M $29,908

For 2021, Salisbury Bank And Trust Company had 14 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $44,072
Net interest income $41,613
Total noninterest income $11,432
Gross Fiduciary activities income $4,970
Service charges on deposit accounts $1,571
Trading account gains and fees $0
Additional Noninterest Income $4,891
Pre-tax net operating income $22,332
Securities gains (or losses, -) $-28
Income before extraordinary items $17,651
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $17,651
Minority interest net income $0
Net income $17,651
Sale, conversion, retirement of capital stock, net $10,362
Net operating income $17,673

Salisbury Bank And Trust Company's gross interest income from loans was $44,072,000.
Salisbury Bank And Trust Company's net interest income from loans was $41,613,000.
Salisbury Bank And Trust Company's fee based income from loans was $1,571,000.
Salisbury Bank And Trust Company's net income from loans was $17,651,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,459
Provision for credit losses $-720
Total noninterest expense $31,433
Salaries and employee benefits $18,177
Premises and equipment expense $3,221
Additional noninterest expense $10,035
Applicable income taxes $4,653
Net charge-offs $72
Cash dividends $3,994

Salisbury Bank And Trust Company's interest expense for loans was $2,459,000.
Salisbury Bank And Trust Company's payroll and benefits expense were $18,177,000.
Salisbury Bank And Trust Company's property, plant and equipment expenses $3,221,000.

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 1.0%
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 $1,342,605
Deposits held in domestic offices $1,342,605
Deposits by Individuals, partnerships, and corporations $1,216,244
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $117,574
Deposits by Commercial banks and other depository institutions in U.S. $8,787
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $116,208
Demand deposits $53,685
Nontransaction accounts $1,226,397
Money market deposit accounts (MMDAs) $404,322
Other savings deposits (excluding MMDAs) $703,066
Total time deposits $119,010
Total time and savings deposits $1,288,920
Noninterest-bearing deposits $416,073
Interest-bearing deposits $926,532
Retail deposits $1,324,979
IRAs and Keogh plan accounts $27,686
Brokered deposits $7,874
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,528,798
Cash & Balances due from depository institutions $175,336
Interest-bearing balances $168,962
Total securities $203,297
Federal funds sold & reverse repurchase $0
Net loans and leases $1,069,434
Loan and leases loss allowance $12,962
Trading account assets $0
Bank premises and fixed assets $23,178
Other real estate owned $0
Goodwill and other intangibles $14,515
All other assets $43,038

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,528,798
Total Liabilities $1,374,506
Total deposits $1,342,605
Interest-bearing deposits $926,532
Deposits held in domestic offices $1,342,605
% insured (estimated) $60
Federal funds purchased and repurchase agreements $11,430
Trading liabilities $0
Other borrowed funds $12,954
Subordinated debt $0
All other liabilities $7,517

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,069,434
Loan and leases loss allowance $12,962
Total loans and leases (domestic) $1,082,396
All real estate loans $860,339
Real estate loans in domestic offices $860,339
Construction and development loans $92,360
Residential 1-4 family construction $19,734
Other construction, all land development and other land $72,626
Loans secured by nonfarm nonresidential properties $312,222
Nonfarm nonresidential secured by owner-occupied properties $192,486
Commercial real estate & other non-farm, non-residential $119,736
Multifamily residential real estate $52,250
1-4 family residential loans $400,678
Farmland loans $2,829
Loans held in foreign offices $0
Farm loans $150
Commercial and industrial loans $155,419
To non-U.S. addressees $0
Loans to individuals $12,478
Credit card loans $0
Related Plans $202
Consumer Auto Loans $8,741
Other loans to individuals $3,535
All other loans & leases $54,010
Loans to foreign governments and official institutions $0
Other loans $37,449
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $9,404
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $1,143
Non 1-4 family restructured loans & leases $762
Total loans and leases (foreign) $0

Salisbury Bank and Trust Company had $1,069,434,000 of loans outstanding in 2021. $860,339,000 of loans were in real estate loans. $92,360,000 of loans were in development loans. $52,250,000 of loans were in multifamily mortgage loans. $400,678,000 of loans were in 1-4 family mortgage loans. $150,000 of loans were in farm loans. $0 of loans were in credit card loans. $8,741,000 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 451 $104,006 $230,612
Nonfarm, nonresidential loans - <$100k 78 $964 $12,359
Nonfarm, nonresidential loans - $100-250k 100 $11,140 $111,400
Nonfarm, nonresidential loans - $250k-1MM 273 $91,902 $336,637
Commercial & Industrial, US addressed loans - <$1MM 1,690 $86,483 $51,173
Commercial & Industrial, US addressed loans - <$100k 1,261 $11,473 $9,098
Commercial & Industrial, US addressed loans - $100-250k 218 $17,794 $81,624
Commercial & Industrial, US addressed loans - $250k-1MM 211 $57,216 $271,166
Farmland loans - <$1MM 6 $1,161 $193,500
Farmland loans - $100-250k 2 $183 $91,500
Farmland loans - $250k-1MM 4 $978 $244,500
Agriculture operations loans - <$1MM 17 $150 $8,824
Agriculture operations loans - <$100k 17 $150 $8,824