Salisbury Bank And Trust Company Mortgage Rates, Fees & Info

Lakeville, CT

LEI: 549300PE7I3IWSUX2B53

Tax ID: 06-0521260

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 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 17 markets. (Some data included below & more in-depth data is available with an active subscription.)

Salisbury Bank And Trust Company has an above 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

497

Origination Dollar Volume (All Markets)

$192,025,000

Employee count

174

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)	156	$76,280,000	$488,974	$0	0.00%
Torrington, CT (FHA\|USDA\|VA)	161	$52,215,000	$324,317	$0	0.00%
PITTSFIELD, MA (FHA\|USDA\|VA)	82	$29,180,000	$355,854	$0	0.00%
Hudson, NY (FHA\|USDA\|VA)	38	$13,650,000	$359,211	$0	0.00%
KINGSTON, NY (FHA\|USDA\|VA)	19	$4,645,000	$244,474	$0	0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	8	$3,590,000	$448,750	$0	0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA\|USDA\|VA)	7	$2,425,000	$346,429	$0	0.00%
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA\|USDA\|VA)	8	$2,370,000	$296,250	$0	0.00%
Boston-Cambridge-Newton, MA-NH (FHA\|USDA\|VA)	2	$1,690,000	$845,000	$0	0.00%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	2	$1,660,000	$830,000	$0	0.00%
NEW HAVEN-MILFORD, CT (FHA\|USDA\|VA)	4	$1,350,000	$337,500	$0	0.00%
ALBANY-SCHENECTADY-TROY, NY (FHA\|USDA\|VA)	4	$850,000	$212,500	$0	0.00%
RENO, NV (FHA\|USDA\|VA)	1	$675,000	$675,000	$0	0.00%
SPRINGFIELD, MA (FHA\|USDA\|VA)	1	$505,000	$505,000	$0	0.00%
Outside of Metro Areas	1	$445,000	$445,000	$0	0.00%
Malone, NY (FHA\|USDA\|VA)	2	$290,000	$145,000	$0	0.00%
BARNSTABLE TOWN, MA (FHA\|USDA\|VA)	1	$205,000	$205,000	$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)

Nevada (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	497	$192,025,000	$386,368	$0	0.00%

For 2020, Salisbury Bank And Trust Company's most frequently originated type of loan was Conventional, with 497 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	191	$95,675,000	$500,916	$0	0.00%
Cash Out Refi	175	$59,115,000	$337,800	$0	0.00%
Refi	97	$26,035,000	$268,402	$0	0.00%
Other	23	$7,875,000	$342,391	$0	0.00%
Home Improvement	11	$3,325,000	$302,273	$0	0.00%

For 2020, Salisbury Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 191 originations. The 2nd most popular reason was Cash Out Refi, with 175 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	497	$192,025,000	$386,368	$0	0.00%

For 2020, Salisbury Bank And Trust Company's most frequently cited loan duration was Other, with 497 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	227	$63,885,000	$281,432	$0	0.00%
$100k-200k	126	$20,040,000	$159,048	$0	0.00%
$400k-600k	80	$37,280,000	$466,000	$0	0.00%
$100,000 or less	23	$1,585,000	$68,913	$0	0.00%
$600k-1MM	23	$16,795,000	$730,217	$0	0.00%
$1MM+	18	$52,440,000	$2,913,333	$0	0.00%

2020 saw Salisbury Bank And Trust Company place emphasis on $200k-400k loans with 227 originations, totaling $63,885,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$250k+	105	$54,985,000	$523,667	$0	0.00%
$100k-150k	104	$27,780,000	$267,115	$0	0.00%
$150k-250k	102	$33,740,000	$330,784	$0	0.00%
$75k-100k	66	$15,970,000	$241,970	$0	0.00%
$50k-75k	60	$10,910,000	$181,833	$0	0.00%
$50k or less	35	$6,495,000	$185,571	$0	0.00%

Salisbury Bank And Trust Company lent most frequently to those with incomes in the $250k+ range, with 105 originations. The second most popular income band? $100k-150k, with 104 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	497	$192,025,000	$386,368	$0	0.00%

Salisbury Bank And Trust Company lent most frequently to those with DTI ratios of Exempt%, with 497 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	359	$111,985,000	$311,936	$0	0.00%
Not applicable	24	$41,970,000	$1,748,750	$0	0.00%
Not provided	107	$35,535,000	$332,103	$0	0.00%
Asian	6	$2,370,000	$395,000	$0	0.00%
Asian Indian	1	$165,000	$165,000	$0	0.00%

Approval Rates

Total approvals of all applications
92.62%

Salisbury Bank And Trust Company has an average approval rate.

Pick Rate

Approvals leading to origination
75.86%

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

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	497	$192,025,000	$386,368

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	2	$2,650,000	$1,325,000
Multifamily:Site-Built	9	$36,995,000	$4,110,556
Single Family (1-4 Units):Site-Built	486	$152,380,000	$313,539

Complaints

Bank Name	Product	Issue	2020 CPFB Complaints	% of Total Issues
SCHOOLSFIRST FEDERAL CREDIT UNION	Conventional home mortgage	Applying for a mortgage or refinancing an existing mortgage	2	28.6%
SCHOOLSFIRST FEDERAL CREDIT UNION	Conventional home mortgage	Struggling to pay mortgage	1	14.3%
SCHOOLSFIRST FEDERAL CREDIT UNION	Conventional home mortgage	Trouble during payment process	2	28.6%
SCHOOLSFIRST FEDERAL CREDIT UNION	Home equity loan or line of credit (HELOC)	Applying for a mortgage or refinancing an existing mortgage	1	14.3%
SCHOOLSFIRST FEDERAL CREDIT UNION	Home equity loan or line of credit (HELOC)	Trouble during payment process	1	14.3%

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	$90,889
Salisbury Bank and Trust Company	51 Main Street South Egremont, MA 1258	Full Service B&M	$25,605
Salisbury Bank and Trust Company	640 North Main Street Sheffield, MA 1257	Full Service B&M	$40,003
Salisbury Bank and Trust Company	100 Main Street Canaan, CT 6018	Full Service B&M	$91,497
Salisbury Bank and Trust Company	11 Garden Street Poughkeepsie, NY 12601	Full Service B&M	$116,911
Salisbury Bank and Trust Company	18 Main Street Salisbury, CT 6068	Full Service B&M	$37,051
Salisbury Bank and Trust Company	2064 New Hackensack Road, Suite 1 Poughkeepsie, NY 12603	Full Service B&M	$17,392
Salisbury Bank and Trust Company	210 Main Street Great Barrington, MA 1230	Full Service B&M	$24,675
Salisbury Bank and Trust Company	275 Main St. New Paltz, NY 12561	Full Service B&M	$38,258
Salisbury Bank and Trust Company	5 Bissell St Lakeville, CT 6039	Full Service B&M	$282,819
Salisbury Bank and Trust Company	5 Dover Village Plaza Dover Plains, NY 12522	Full Service B&M	$57,878
Salisbury Bank and Trust Company	701 Route 9 Fishkill, NY 12524	Full Service B&M	$63,079
Salisbury Bank and Trust Company	801 Auto Park Pl Newburgh, NY 12550	Full Service B&M	$123,389
Salisbury Bank and Trust Company	87 Main Street Millerton, NY 12546	Full Service B&M	$78,344

For 2020, Salisbury Bank And Trust Company had 14 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$43,434
Net interest income	$38,758
Total noninterest income	$10,010
Gross Fiduciary activities income	$4,194
Service charges on deposit accounts	$689
Trading account gains and fees	$0
Additional Noninterest Income	$5,127
Pre-tax net operating income	$15,285
Securities gains (or losses, -)	$215
Income before extraordinary items	$12,774
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$12,774
Minority interest net income	$0
Net income	$12,774
Sale, conversion, retirement of capital stock, net	$746
Net operating income	$12,597

Salisbury Bank And Trust Company's gross interest income from loans was $43,434,000.
Salisbury Bank And Trust Company's net interest income from loans was $38,758,000.
Salisbury Bank And Trust Company's fee based income from loans was $689,000.
Salisbury Bank And Trust Company's net income from loans was $12,774,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$4,676
Provision for credit losses	$5,038
Total noninterest expense	$28,445
Salaries and employee benefits	$16,106
Premises and equipment expense	$3,007
Additional noninterest expense	$9,332
Applicable income taxes	$2,726
Net charge-offs	$179
Cash dividends	$3,787

Salisbury Bank And Trust Company's interest expense for loans was $4,676,000.
Salisbury Bank And Trust Company's payroll and benefits expense were $16,106,000.
Salisbury Bank And Trust Company's property, plant and equipment expenses $3,007,000.

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	$1,131,042
Deposits held in domestic offices	$1,131,042
Deposits by Individuals, partnerships, and corporations	$1,029,722
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$89,329
Deposits by Commercial banks and other depository institutions in U.S.	$11,991
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$97,708
Demand deposits	$37,973
Nontransaction accounts	$1,033,334
Money market deposit accounts (MMDAs)	$328,250
Other savings deposits (excluding MMDAs)	$573,570
Total time deposits	$131,515
Total time and savings deposits	$1,093,069
Noninterest-bearing deposits	$310,767
Interest-bearing deposits	$820,275
Retail deposits	$1,092,347
IRAs and Keogh plan accounts	$29,391
Brokered deposits	$17,959
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,293,663
Cash & Balances due from depository institutions	$93,162
Interest-bearing balances	$82,563
Total securities	$99,328
Federal funds sold & reverse repurchase	$0
Net loans and leases	$1,030,473
Loan and leases loss allowance	$13,754
Trading account assets	$0
Bank premises and fixed assets	$20,896
Other real estate owned	$0
Goodwill and other intangibles	$14,581
All other assets	$35,223

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,293,663
Total Liabilities	$1,161,256
Total deposits	$1,131,042
Interest-bearing deposits	$820,275
Deposits held in domestic offices	$1,131,042
% insured (estimated)	$63
Federal funds purchased and repurchase agreements	$7,116
Trading liabilities	$0
Other borrowed funds	$15,702
Subordinated debt	$0
All other liabilities	$7,396

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$1,030,473
Loan and leases loss allowance	$13,754
Total loans and leases (domestic)	$1,044,227
All real estate loans	$791,098
Real estate loans in domestic offices	$791,098
Construction and development loans	$54,453
Residential 1-4 family construction	$8,797
Other construction, all land development and other land	$45,656
Loans secured by nonfarm nonresidential properties	$311,872
Nonfarm nonresidential secured by owner-occupied properties	$180,540
Commercial real estate & other non-farm, non-residential	$131,332
Multifamily residential real estate	$36,997
1-4 family residential loans	$384,552
Farmland loans	$3,224
Loans held in foreign offices	$0
Farm loans	$372
Commercial and industrial loans	$191,362
To non-U.S. addressees	$0
Loans to individuals	$7,386
Credit card loans	$0
Related Plans	$461
Consumer Auto Loans	$4,145
Other loans to individuals	$2,780
All other loans & leases	$54,010
Loans to foreign governments and official institutions	$0
Other loans	$32,461
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$8,615
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$1,874
Non 1-4 family restructured loans & leases	$1,105
Total loans and leases (foreign)	$0

Salisbury Bank and Trust Company had $1,030,473,000 of loans outstanding in 2020. $791,098,000 of loans were in real estate loans. $54,453,000 of loans were in development loans. $36,997,000 of loans were in multifamily mortgage loans. $384,552,000 of loans were in 1-4 family mortgage loans. $372,000 of loans were in farm loans. $0 of loans were in credit card loans. $4,145,000 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	470	$103,956	$221,183
Nonfarm, nonresidential loans - <$100k	77	$1,149	$14,922
Nonfarm, nonresidential loans - $100-250k	115	$13,696	$119,096
Nonfarm, nonresidential loans - $250k-1MM	278	$89,111	$320,543
Commercial & Industrial, US addressed loans - <$1MM	1,270	$122,487	$96,446
Commercial & Industrial, US addressed loans - <$100k	718	$26,630	$37,089
Commercial & Industrial, US addressed loans - $100-250k	308	$30,322	$98,448
Commercial & Industrial, US addressed loans - $250k-1MM	244	$65,535	$268,586
Farmland loans - <$1MM	8	$1,658	$207,250
Farmland loans - <$100k	2	$10	$5,000
Farmland loans - $100-250k	2	$372	$186,000
Farmland loans - $250k-1MM	4	$1,276	$319,000
Agriculture operations loans - <$1MM	19	$372	$19,579
Agriculture operations loans - <$100k	18	$92	$5,111
Agriculture operations loans - $250k-1MM	1	$280	$280,000