Salisbury Bank And Trust Company Mortgage Rates, Fees & Info

Lakeville, CT

LEI: 549300PE7I3IWSUX2B53

Tax ID: 06-0521260

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    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, Kingston, and Albany among others. We have data for 13 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

    487

    Origination Dollar Volume (All Markets)

    $237,125,000

    Employee count

    177

    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) 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.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Product Mix

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

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

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Salisbury Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 186 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 487 $237,125,000 $486,910 $0 0.00%

    For 2021, Salisbury Bank And Trust Company's most frequently cited loan duration was 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
    94.94%

    Salisbury Bank And Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.90%

    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 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
    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

    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