Salisbury Bank And Trust Company Mortgage Rates, Fees & Info

Lakeville, CT

LEI: 549300PE7I3IWSUX2B53

Tax ID: 06-0521260

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Mortgage Data

Bank Data

Review & 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 by origination volume include: Poughkeepsie, Torrington, Pittsfield, Hudson, and Kingston among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

Salisbury 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

197

Origination Dollar Volume (All Markets)

$82,235,000

Employee count

173

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
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 57 $31,085,000 $545,351 $0 0.00%
Torrington, CT (FHA|USDA|VA) 72 $28,240,000 $392,222 $0 0.00%
PITTSFIELD, MA (FHA|USDA|VA) 38 $14,060,000 $370,000 $0 0.00%
Hudson, NY (FHA|USDA|VA) 13 $4,995,000 $384,231 $0 0.00%
KINGSTON, NY (FHA|USDA|VA) 5 $1,055,000 $211,000 $0 0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $835,000 $278,333 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $565,000 $188,333 $0 0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 2 $460,000 $230,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
Outside of Metro Areas 1 $245,000 $245,000 $0 0.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
Salisbury Bank And Trust Company's top markets include Poughkeepsie, Torrington, Pittsfield, Hudson, and Kingston among others.

Their top states include:
  • New York (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 197 $82,235,000 $417,437 $0 0.00%

    For 2019, Salisbury Bank And Trust Company's most frequently originated type of loan was Conventional, with 197 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 109 $46,075,000 $422,706 $0 0.00%
    Cash Out Refi 54 $21,340,000 $395,185 $0 0.00%
    Refi 13 $7,345,000 $565,000 $0 0.00%
    Other 12 $2,120,000 $176,667 $0 0.00%
    Home Improvement 9 $5,355,000 $595,000 $0 0.00%

    For 2019, Salisbury Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 109 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 197 $82,235,000 $417,437 $0 0.00%

    For 2019, Salisbury Bank And Trust Company's most frequently cited loan duration was Other, with 197 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 81 $22,295,000 $275,247 $0 0.00%
    $100k-200k 47 $7,155,000 $152,234 $0 0.00%
    $400k-600k 30 $13,850,000 $461,667 $0 0.00%
    $100,000 or less 16 $1,040,000 $65,000 $0 0.00%
    $600k-1MM 16 $12,020,000 $751,250 $0 0.00%
    $1MM+ 7 $25,875,000 $3,696,429 $0 0.00%

    2019 saw Salisbury Bank And Trust Company place emphasis on $200k-400k loans with 81 originations, totaling $22,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 49 $28,635,000 $584,388 $0 0.00%
    $150k-250k 39 $13,945,000 $357,564 $0 0.00%
    $75k-100k 30 $6,920,000 $230,667 $0 0.00%
    $50k-75k 27 $4,665,000 $172,778 $0 0.00%
    $100k-150k 26 $6,910,000 $265,769 $0 0.00%
    $50k or less 14 $1,880,000 $134,286 $0 0.00%

    Salisbury Bank And Trust Company lent most frequently to those with incomes in the $250k+ range, with 49 originations. The second most popular income band? $150k-250k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 197 $82,235,000 $417,437 $0 0.00%

    Salisbury Bank And Trust Company lent most frequently to those with DTI ratios of Exempt%, with 197 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 143 $48,485,000 $339,056 $0 0.00%
    Not applicable 12 $19,280,000 $1,606,667 $0 0.00%
    Not provided 37 $12,715,000 $343,649 $0 0.00%
    Asian 3 $1,045,000 $348,333 $0 0.00%
    American Indian 1 $525,000 $525,000 $0 0.00%
    Black 1 $185,000 $185,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.00%

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

    Pick Rate

    Approvals leading to origination
    75.13%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 197 $82,235,000 $417,437

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $17,550,000 $4,387,500
    Single Family (1-4 Units):Manufactured 1 $95,000 $95,000
    Single Family (1-4 Units):Site-Built 192 $64,590,000 $336,406

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    SCHOOLSFIRST FEDERAL CREDIT UNION Conventional home mortgage Trouble during payment process 1 50.0%
    SCHOOLSFIRST FEDERAL CREDIT UNION FHA mortgage Trouble during payment process 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Salisbury Bank and Trust Company 5 Gay Street Sharon, CT 6069 Full Service B&M $86,019
    Salisbury Bank and Trust Company 100 Main Street Canaan, CT 6018 Full Service B&M $75,410
    Salisbury Bank and Trust Company 11 Garden Street Poughkeepsie, NY 12601 Full Service B&M $97,025
    Salisbury Bank and Trust Company 18 Main Street Salisbury, CT 6068 Full Service B&M $31,737
    Salisbury Bank and Trust Company 2064 New Hackensack Road, Suite 1 Poughkeepsie, NY 12603 Full Service B&M $13,288
    Salisbury Bank and Trust Company 210 Main Street Great Barrington, MA 1230 Full Service B&M $20,049
    Salisbury Bank and Trust Company 275 Main St. New Paltz, NY 12561 Full Service B&M $31,060
    Salisbury Bank and Trust Company 5 Bissell St Lakeville, CT 6039 Full Service B&M $272,321
    Salisbury Bank and Trust Company 5 Dover Village Plaza Dover Plains, NY 12522 Full Service B&M $45,756
    Salisbury Bank and Trust Company 51 Main Street South Egremont, MA 1258 Full Service B&M $22,475
    Salisbury Bank and Trust Company 640 North Main Street Sheffield, MA 1257 Full Service B&M $36,521
    Salisbury Bank and Trust Company 701 Route 9 Fishkill, NY 12524 Full Service B&M $60,764
    Salisbury Bank and Trust Company 801 Auto Park Pl Newburgh, NY 12550 Full Service B&M $89,175
    Salisbury Bank and Trust Company 87 Main Street Millerton, NY 12546 Full Service B&M $71,619

    For 2019, Salisbury Bank And Trust Company had 14 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $43,413
    Net interest income $34,727
    Total noninterest income $8,445
    Gross Fiduciary activities income $3,995
    Service charges on deposit accounts $1,545
    Trading account gains and fees $0
    Additional Noninterest Income $2,905
    Pre-tax net operating income $14,238
    Securities gains (or losses, -) $288
    Income before extraordinary items $11,915
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $11,915
    Minority interest net income $0
    Net income $11,915
    Sale, conversion, retirement of capital stock, net $556
    Net operating income $11,678

    Salisbury Bank And Trust Company's gross interest income from loans was $43,413,000.
    Salisbury Bank And Trust Company's net interest income from loans was $34,727,000.
    Salisbury Bank And Trust Company's fee based income from loans was $1,545,000.
    Salisbury Bank And Trust Company's net income from loans was $11,915,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,686
    Provision for credit losses $955
    Total noninterest expense $27,979
    Salaries and employee benefits $16,233
    Premises and equipment expense $3,167
    Additional noninterest expense $8,579
    Applicable income taxes $2,611
    Net charge-offs $-109
    Cash dividends $3,545

    Salisbury Bank And Trust Company's interest expense for loans was $8,686,000.
    Salisbury Bank And Trust Company's payroll and benefits expense were $16,233,000.
    Salisbury Bank And Trust Company's property, plant and equipment expenses $3,167,000.

    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 2.0%
    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 $921,779
    Deposits held in domestic offices $921,779
    Deposits by Individuals, partnerships, and corporations $814,750
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $91,628
    Deposits by Commercial banks and other depository institutions in U.S. $15,401
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $79,717
    Demand deposits $43,459
    Nontransaction accounts $842,062
    Money market deposit accounts (MMDAs) $290,929
    Other savings deposits (excluding MMDAs) $423,409
    Total time deposits $127,725
    Total time and savings deposits $878,320
    Noninterest-bearing deposits $237,852
    Interest-bearing deposits $683,927
    Retail deposits $899,999
    IRAs and Keogh plan accounts $30,119
    Brokered deposits $2,929
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,112,449
    Cash & Balances due from depository institutions $26,885
    Interest-bearing balances $19,479
    Total securities $92,683
    Federal funds sold & reverse repurchase $0
    Net loans and leases $927,745
    Loan and leases loss allowance $8,895
    Trading account assets $0
    Bank premises and fixed assets $18,094
    Other real estate owned $314
    Goodwill and other intangibles $14,542
    All other assets $32,186

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,112,449
    Total Liabilities $991,422
    Total deposits $921,779
    Interest-bearing deposits $683,927
    Deposits held in domestic offices $921,779
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $8,530
    Trading liabilities $0
    Other borrowed funds $54,210
    Subordinated debt $0
    All other liabilities $6,903

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $927,745
    Loan and leases loss allowance $8,895
    Total loans and leases (domestic) $936,640
    All real estate loans $737,691
    Real estate loans in domestic offices $737,691
    Construction and development loans $28,077
    Residential 1-4 family construction $11,850
    Other construction, all land development and other land $16,227
    Loans secured by nonfarm nonresidential properties $289,533
    Nonfarm nonresidential secured by owner-occupied properties $177,676
    Commercial real estate & other non-farm, non-residential $111,857
    Multifamily residential real estate $35,299
    1-4 family residential loans $381,139
    Farmland loans $3,643
    Loans held in foreign offices $0
    Farm loans $439
    Commercial and industrial loans $160,060
    To non-U.S. addressees $0
    Loans to individuals $6,280
    Credit card loans $0
    Related Plans $505
    Consumer Auto Loans $1,835
    Other loans to individuals $3,940
    All other loans & leases $32,170
    Loans to foreign governments and official institutions $0
    Other loans $10,337
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $18,233
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,756
    Non 1-4 family restructured loans & leases $1,297
    Total loans and leases (foreign) $0

    Salisbury Bank and Trust Company had $927,745,000 of loans outstanding in 2019. $737,691,000 of loans were in real estate loans. $28,077,000 of loans were in development loans. $35,299,000 of loans were in multifamily mortgage loans. $381,139,000 of loans were in 1-4 family mortgage loans. $439,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,835,000 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 465 $104,644 $225,041
    Nonfarm, nonresidential loans - <$100k 73 $1,310 $17,945
    Nonfarm, nonresidential loans - $100-250k 116 $14,149 $121,974
    Nonfarm, nonresidential loans - $250k-1MM 276 $89,185 $323,134
    Commercial & Industrial, US addressed loans - <$1MM 1,507 $78,493 $52,086
    Commercial & Industrial, US addressed loans - <$100k 1,104 $11,589 $10,497
    Commercial & Industrial, US addressed loans - $100-250k 205 $17,650 $86,098
    Commercial & Industrial, US addressed loans - $250k-1MM 198 $49,254 $248,758
    Farmland loans - <$1MM 9 $2,053 $228,111
    Farmland loans - <$100k 2 $11 $5,500
    Farmland loans - $100-250k 2 $442 $221,000
    Farmland loans - $250k-1MM 5 $1,600 $320,000
    Agriculture operations loans - <$1MM 20 $423 $21,150
    Agriculture operations loans - <$100k 19 $114 $6,000
    Agriculture operations loans - $250k-1MM 1 $309 $309,000