Bath Savings Institution Mortgage Rates, Fees & Info

Bath, ME

LEI: 549300SVSM8JMOZJXF07

Tax ID: 01-0026120

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    Bath Savings Institution is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Bath Savings Institution has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Portland, Lewiston, and Augusta among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bath Savings Institution 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. Bath Savings Institution is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.20% 4/21/24
    30 Year Conventional Refi 6.60% 4/21/24
    30 Year Cash-out Refi 6.47% 4/21/24
    30 Year VA Purchase 5.96% 4/21/24
    30 Year USDA Purchase 5.71% 4/21/24
    15 Year Conventional Purchase 6.32% 4/21/24
    15 Year Conventional Refi 5.93% 4/21/24
    15 Year Cash-out Refi 5.93% 4/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Bath Savings Institution Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Bath Savings Institution. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    583

    Origination Dollar Volume (All Markets)

    $175,965,000

    Employee count

    187

    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
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 455 $141,905,000 $311,879 $3,572 3.38%
    Outside of Metro Areas 94 $26,740,000 $284,468 $3,294 3.34%
    LEWISTON-AUBURN, ME (FHA|USDA|VA) 25 $5,805,000 $232,200 $3,285 3.34%
    Augusta-Waterville, ME (FHA|USDA|VA) 9 $1,515,000 $168,333 $3,099 3.67%
    Bath Savings Institution's top markets include Portland, Lewiston, and Augusta among others.

    Their top states include:
  • Maine (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Bath Savings Institution based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    MAINE FAMILY
    Similarity Rank: 12
    INFINITY Federal Credit Union
    Similarity Rank: 136
    CASCO
    Similarity Rank: 226
    TOWN & COUNTRY FEDERAL CREDIT UNION
    Similarity Rank: 240
    Piscataqua Savings Bank
    Similarity Rank: 252
    CUMBERLAND COUNTY
    Similarity Rank: 464
    Kennebec Savings Bank
    Similarity Rank: 535
    Saco & Biddeford Savings Institution
    Similarity Rank: 556
    Cambridge Trust Company
    Similarity Rank: 585
    Maine Savings Federal Credit Union
    Similarity Rank: 650

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 578 $174,760,000 $302,353 $3,498 3.38%
    USDA 3 $945,000 $315,000 $5,942 2.92%
    VA 2 $260,000 $130,000 $2,396 3.06%

    For 2021, Bath Savings Institution's most frequently originated type of loan was Conventional, with 578 originations. Their 2nd most popular type was USDA, with 3 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 260 $99,650,000 $383,269 $4,256 3.57%
    Cash Out Refi 166 $42,540,000 $256,265 $3,131 3.19%
    Refi 126 $28,440,000 $225,714 $2,755 3.11%
    Other 17 $3,435,000 $202,059 $2,571 3.75%
    Home Improvement 14 $1,900,000 $135,714 $2,258 4.01%

    For 2021, Bath Savings Institution's most frequently cited loan purpose was Home Purchase, with 260 originations. The 2nd most popular reason was Cash Out Refi, with 166 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 337 $113,655,000 $337,255 $3,848 3.48%
    15 Year 145 $34,295,000 $236,517 $2,981 2.90%
    20 Year 77 $22,505,000 $292,273 $3,125 3.61%
    Other 15 $4,115,000 $274,333 $2,489 3.93%
    10 Year 7 $1,255,000 $179,286 $1,508 4.06%
    1 Year 1 $105,000 $105,000 $0 4.00%
    5 Year 1 $35,000 $35,000 $207 5.49%

    For 2021, Bath Savings Institution's most frequently cited loan duration was 30 Year, with 337 originations. The 2nd most popular length was 15 Year, with 145 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 479 $143,045,000 $298,633
    $1k-2k 37 $9,985,000 $269,865
    $2k-3k 11 $3,365,000 $305,909
    $3k-4k 3 $675,000 $225,000
    $5k+ 3 $1,075,000 $358,333
    $4k-5k 2 $730,000 $365,000

    Bath Savings Institution's average total fees were $3,848, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 479 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 399 $132,495,000 $332,068
    2.5-3% 140 $33,260,000 $237,571
    4-5% 30 $8,190,000 $273,000
    <2.5% 8 $1,500,000 $187,500
    5-6% 6 $520,000 $86,667

    During 2021, Bath Savings Institution's average interest rate for loans was 3.48%, while their most frequently originated rate bucket for loans was 3-4%, with 399 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 261 $72,015,000 $275,920 $3,468 3.33%
    $100k-200k 169 $25,835,000 $152,870 $2,805 3.32%
    $400k-600k 71 $34,175,000 $481,338 $4,412 3.44%
    $100,000 or less 36 $2,700,000 $75,000 $2,481 3.55%
    $600k-1MM 34 $24,970,000 $734,412 $5,215 3.59%
    $1MM+ 12 $16,270,000 $1,355,833 $8,050 3.56%

    2021 saw Bath Savings Institution place emphasis on $200k-400k loans with 261 originations, totaling $72,015,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 119 $42,435,000 $356,597 $3,770 3.29%
    $100k-150k 117 $33,165,000 $283,462 $3,521 3.31%
    $75k-100k 95 $23,215,000 $244,368 $3,264 3.31%
    $50k-75k 87 $17,285,000 $198,678 $3,063 3.35%
    $250k+ 54 $30,890,000 $572,037 $4,563 3.30%
    $50k or less 53 $8,715,000 $164,434 $3,175 3.37%

    Bath Savings Institution lent most frequently to those with incomes in the $150k-250k range, with 119 originations. The second most popular income band? $100k-150k, with 117 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 140 $38,860,000 $277,571 $3,296 3.23%
    30-36% 91 $25,845,000 $284,011 $3,420 3.44%
    <20% 77 $23,005,000 $298,766 $3,614 3.12%
    >60% 24 $9,170,000 $382,083 $3,751 3.51%
    50-60% 24 $8,050,000 $335,417 $3,546 3.47%
    42% 23 $6,375,000 $277,174 $3,344 3.45%
    41% 22 $6,910,000 $314,091 $3,612 3.24%
    39% 21 $6,045,000 $287,857 $3,453 3.36%
    38% 15 $4,555,000 $303,667 $3,403 3.46%
    37% 14 $5,120,000 $365,714 $3,727 3.30%
    40% 14 $3,290,000 $235,000 $3,519 3.23%
    45% 12 $3,950,000 $329,167 $4,695 3.44%
    44% 12 $3,700,000 $308,333 $3,313 3.39%
    36% 11 $3,135,000 $285,000 $3,929 3.33%
    43% 9 $3,075,000 $341,667 $3,911 3.39%
    48% 9 $2,615,000 $290,556 $3,790 3.35%
    49% 6 $1,570,000 $261,667 $3,500 3.31%
    46% 5 $1,135,000 $227,000 $3,176 3.38%
    47% 4 $850,000 $212,500 $3,563 3.28%

    Bath Savings Institution lent most frequently to those with DTI ratios of 20-30%, with 140 originations. The next most common DTI ratio? 30-36%, with 91 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 465 $137,815,000 $296,376 $3,507 3.31%
    Not provided 64 $19,560,000 $305,625 $3,580 3.35%
    Not applicable 45 $16,265,000 $361,444 $0 4.12%
    Black 3 $985,000 $328,333 $3,450 3.54%
    American Indian 3 $655,000 $218,333 $2,749 2.96%
    Asian 2 $480,000 $240,000 $2,853 3.25%
    Other Pacific Islander 1 $205,000 $205,000 $3,017 2.88%

    Approval Rates

    Total approvals of all applications
    94.16%

    Bath Savings Institution has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.90%

    Bath Savings Institution has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 583 $175,965,000 $301,827

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    583 $175,965,000 $301,827

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 97 $17,545,000 $180,876 $2,866 3.17%
    40-60% 150 $42,130,000 $280,867 $3,340 3.25%
    60-80% 234 $86,970,000 $371,667 $3,803 3.46%
    80-100% 81 $27,125,000 $334,877 $4,107 3.51%
    Over 100% 1 $175,000 $175,000 $3,292 3.88%
    Under 20% 20 $2,020,000 $101,000 $2,029 3.76%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bath Savings Institution 1 Todd Ave Boothbay Harbor, ME 4538 Full Service B&M $41,406
    Bath Savings Institution 105 Front St Bath, ME 4530 Full Service B&M $356,545
    Bath Savings Institution 189 Lower Main Street Freeport, ME 4032 Full Service B&M $136,625
    Bath Savings Institution 225 Ocean Street South Portland, ME 4106 Full Service B&M $20,444
    Bath Savings Institution 239 U.S. Route One Falmouth, ME 4105 Full Service B&M $61,884
    Bath Savings Institution 26 Elm Street Topsham, ME 4086 Limited, Mobile/Seasonal Office $9,401
    Bath Savings Institution 3 Pleasant Street Brunswick, ME 4011 Full Service B&M $150,256
    Bath Savings Institution 34 Spring Street Westbrook, ME 4092 Full Service B&M $25
    Bath Savings Institution 424 U.S. Route One Yarmouth, ME 4096 Full Service B&M $58,837
    Bath Savings Institution 46 Auburn Street Portland, ME 4103 Full Service B&M $43,159
    Bath Savings Institution 52 Falmouth Road Falmouth, ME 4105 Limited, Mobile/Seasonal Office $6,301
    Bath Savings Institution 777 Stevens Ave Portland, ME 4103 Limited, Mobile/Seasonal Office $314
    Bath Savings Institution 8 Church Street Damariscotta, ME 4543 Full Service B&M $61,552

    For 2021, Bath Savings Institution had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $34,046
    Net interest income $31,838
    Total noninterest income $13,904
    Gross Fiduciary activities income $8,164
    Service charges on deposit accounts $239
    Trading account gains and fees $0
    Additional Noninterest Income $5,501
    Pre-tax net operating income $17,372
    Securities gains (or losses, -) $6,205
    Income before extraordinary items $19,209
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $19,209
    Minority interest net income $0
    Net income $19,209
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $14,182

    Bath Savings Institution's gross interest income from loans was $34,046,000.
    Bath Savings Institution's net interest income from loans was $31,838,000.
    Bath Savings Institution's fee based income from loans was $239,000.
    Bath Savings Institution's net income from loans was $19,209,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,208
    Provision for credit losses $658
    Total noninterest expense $27,712
    Salaries and employee benefits $16,765
    Premises and equipment expense $5,841
    Additional noninterest expense $5,106
    Applicable income taxes $4,368
    Net charge-offs $32
    Cash dividends $0

    Bath Savings Institution's interest expense for loans was $2,208,000.
    Bath Savings Institution's payroll and benefits expense were $16,765,000.
    Bath Savings Institution's property, plant and equipment expenses $5,841,000.

    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 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 $981,674
    Deposits held in domestic offices $981,674
    Deposits by Individuals, partnerships, and corporations $902,908
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $78,766
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $498,927
    Demand deposits $224,845
    Nontransaction accounts $482,747
    Money market deposit accounts (MMDAs) $293
    Other savings deposits (excluding MMDAs) $354,374
    Total time deposits $128,080
    Total time and savings deposits $756,829
    Noninterest-bearing deposits $223,436
    Interest-bearing deposits $758,238
    Retail deposits $932,013
    IRAs and Keogh plan accounts $12,494
    Brokered deposits $18,395
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,229,908
    Cash & Balances due from depository institutions $55,514
    Interest-bearing balances $49,018
    Total securities $474,213
    Federal funds sold & reverse repurchase $0
    Net loans and leases $639,331
    Loan and leases loss allowance $9,451
    Trading account assets $0
    Bank premises and fixed assets $18,425
    Other real estate owned $0
    Goodwill and other intangibles $1,840
    All other assets $40,585

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,229,908
    Total Liabilities $1,048,024
    Total deposits $981,674
    Interest-bearing deposits $758,238
    Deposits held in domestic offices $981,674
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $15,142
    Trading liabilities $0
    Other borrowed funds $36,785
    Subordinated debt $0
    All other liabilities $14,423

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $639,331
    Loan and leases loss allowance $9,451
    Total loans and leases (domestic) $648,782
    All real estate loans $581,370
    Real estate loans in domestic offices $581,370
    Construction and development loans $55,969
    Residential 1-4 family construction $20,154
    Other construction, all land development and other land $35,815
    Loans secured by nonfarm nonresidential properties $196,791
    Nonfarm nonresidential secured by owner-occupied properties $60,889
    Commercial real estate & other non-farm, non-residential $135,902
    Multifamily residential real estate $30,465
    1-4 family residential loans $298,145
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $2,514
    Commercial and industrial loans $49,978
    To non-U.S. addressees $0
    Loans to individuals $9,713
    Credit card loans $486
    Related Plans $106
    Consumer Auto Loans $2,535
    Other loans to individuals $6,586
    All other loans & leases $6,219
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $540
    Non 1-4 family restructured loans & leases $425
    Total loans and leases (foreign) $0

    Bath Savings Institution had $639,331,000 of loans outstanding in 2021. $581,370,000 of loans were in real estate loans. $55,969,000 of loans were in development loans. $30,465,000 of loans were in multifamily mortgage loans. $298,145,000 of loans were in 1-4 family mortgage loans. $2,514,000 of loans were in farm loans. $486,000 of loans were in credit card loans. $2,535,000 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 222 $51,804 $233,351
    Nonfarm, nonresidential loans - <$100k 35 $1,737 $49,629
    Nonfarm, nonresidential loans - $100-250k 90 $12,954 $143,933
    Nonfarm, nonresidential loans - $250k-1MM 97 $37,113 $382,608
    Commercial & Industrial, US addressed loans - <$1MM 584 $23,620 $40,445
    Commercial & Industrial, US addressed loans - <$100k 399 $6,305 $15,802
    Commercial & Industrial, US addressed loans - $100-250k 129 $7,157 $55,481
    Commercial & Industrial, US addressed loans - $250k-1MM 56 $10,158 $181,393
    Agriculture operations loans - <$1MM 30 $1,573 $52,433
    Agriculture operations loans - <$100k 26 $724 $27,846
    Agriculture operations loans - $100-250k 1 $116 $116,000
    Agriculture operations loans - $250k-1MM 3 $733 $244,333