Haverhill Bank Mortgage Rates, Fees & Info

Haverhill, MA

LEI: 549300T92XVMWQW75772

Tax ID: 04-1426920

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

Jump to:

Mortgage Data

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

    Haverhill Bank is a smaller bank specializing in Home Purchase loans. Haverhill Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Portland, Concord, and Laconia among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Haverhill Bank 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.

    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.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    129

    Origination Dollar Volume (All Markets)

    $31,835,000

    Employee count

    64

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 120 $29,910,000 $249,250 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $715,000 $238,333 $0 0.00%
    Outside of Metro Areas 2 $370,000 $185,000 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
    Concord, NH (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Haverhill Bank's top markets include Boston, Manchester, Portland, Concord, and Laconia among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 129 $31,835,000 $246,783 $0 0.00%

    For 2018, Haverhill Bank's most frequently originated type of loan was Conventional, with 129 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 59 $19,485,000 $330,254 $0 0.00%
    Refi 25 $5,915,000 $236,600 $0 0.00%
    Cash Out Refi 22 $4,010,000 $182,273 $0 0.00%
    Home Improvement 19 $2,295,000 $120,789 $0 0.00%
    Other 4 $130,000 $32,500 $0 0.00%

    For 2018, Haverhill Bank's most frequently cited loan purpose was Home Purchase, with 59 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 129 $31,835,000 $246,783 $0 0.00%

    For 2018, Haverhill Bank's most frequently cited loan duration was Other, with 129 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 45 $13,025,000 $289,444 $0 0.00%
    $100k-200k 35 $5,285,000 $151,000 $0 0.00%
    $100,000 or less 29 $1,535,000 $52,931 $0 0.00%
    $400k-600k 13 $6,065,000 $466,538 $0 0.00%
    $600k-1MM 6 $4,170,000 $695,000 $0 0.00%
    $1MM+ 1 $1,755,000 $1,755,000 $0 0.00%

    2018 saw Haverhill Bank place emphasis on $200k-400k loans with 45 originations, totaling $13,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 34 $7,950,000 $233,824 $0 0.00%
    $50k-75k 24 $3,640,000 $151,667 $0 0.00%
    $75k-100k 24 $4,790,000 $199,583 $0 0.00%
    $150k-250k 22 $6,890,000 $313,182 $0 0.00%
    $50k or less 10 $1,190,000 $119,000 $0 0.00%
    $250k+ 6 $2,280,000 $380,000 $0 0.00%

    Haverhill Bank lent most frequently to those with incomes in the $100k-150k range, with 34 originations. The second most popular income band? $50k-75k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 129 $31,835,000 $246,783 $0 0.00%

    Haverhill Bank lent most frequently to those with DTI ratios of Exempt%, with 129 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $20,095,000 $211,526 $0 0.00%
    Not provided 21 $5,915,000 $281,667 $0 0.00%
    Not applicable 9 $5,095,000 $566,111 $0 0.00%
    Black 1 $385,000 $385,000 $0 0.00%
    Asian 2 $230,000 $115,000 $0 0.00%
    American Indian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.00%

    Haverhill Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.40%

    Haverhill Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 129 $31,835,000 $246,783

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $2,160,000 $1,080,000
    Single Family (1-4 Units):Site-Built 127 $29,675,000 $233,661

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Haverhill Bank 1094 Main Street Haverhill, MA 1830 Full Service B&M $63,219
    Haverhill Bank 115 Amesbury Line Road Haverhill, MA 1830 Limited, Mobile/Seasonal Office $5,064
    Haverhill Bank 137 Monument Ave. Haverhill, MA 1832 Limited, Mobile/Seasonal Office $885
    Haverhill Bank 163 South Main Street Haverhill, MA 1835 Full Service B&M $61,171
    Haverhill Bank 180 Merrimack Street Haverhill, MA 1830 Full Service Cyber Office $155
    Haverhill Bank 180 Merrimack Street Haverhill, MA 1830 Full Service B&M $157,509
    Haverhill Bank 281 Main Street West Newbury, MA 1985 Full Service B&M $7,467
    Haverhill Bank 396 Main Street Salem, NH 3079 Full Service B&M $14,889
    Haverhill Bank 6 Main Street Merrimac, MA 1860 Full Service B&M $29,030

    For 2018, Haverhill Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,046
    Net interest income $12,036
    Total noninterest income $1,553
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $474
    Trading account gains and fees $0
    Additional Noninterest Income $1,079
    Pre-tax net operating income $2,979
    Securities gains (or losses, -) $200
    Income before extraordinary items $2,362
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,362
    Minority interest net income $0
    Net income $2,362
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,204

    Haverhill Bank's gross interest income from loans was $15,046,000.
    Haverhill Bank's net interest income from loans was $12,036,000.
    Haverhill Bank's fee based income from loans was $474,000.
    Haverhill Bank's net income from loans was $2,362,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,010
    Provision for credit losses $45
    Total noninterest expense $10,565
    Salaries and employee benefits $6,408
    Premises and equipment expense $1,116
    Additional noninterest expense $3,041
    Applicable income taxes $817
    Net charge-offs $-1
    Cash dividends $0

    Haverhill Bank's interest expense for loans was $3,010,000.
    Haverhill Bank's payroll and benefits expense were $6,408,000.
    Haverhill Bank's property, plant and equipment expenses $1,116,000.

    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 3.0%
    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 $339,572
    Deposits held in domestic offices $339,572
    Deposits by Individuals, partnerships, and corporations $322,817
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $16,708
    Deposits by Commercial banks and other depository institutions in U.S. $47
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $103,740
    Demand deposits $58,467
    Nontransaction accounts $235,832
    Money market deposit accounts (MMDAs) $54,931
    Other savings deposits (excluding MMDAs) $56,097
    Total time deposits $124,803
    Total time and savings deposits $281,105
    Noninterest-bearing deposits $58,467
    Interest-bearing deposits $281,105
    Retail deposits $291,358
    IRAs and Keogh plan accounts $25,278
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $394,269
    Cash & Balances due from depository institutions $14,440
    Interest-bearing balances $8,865
    Total securities $64,246
    Federal funds sold & reverse repurchase $0
    Net loans and leases $294,097
    Loan and leases loss allowance $2,978
    Trading account assets $0
    Bank premises and fixed assets $6,786
    Other real estate owned $0
    Goodwill and other intangibles $218
    All other assets $14,482

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $394,269
    Total Liabilities $352,728
    Total deposits $339,572
    Interest-bearing deposits $281,105
    Deposits held in domestic offices $339,572
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $11,293
    Subordinated debt $0
    All other liabilities $1,863

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $294,097
    Loan and leases loss allowance $2,978
    Total loans and leases (domestic) $297,075
    All real estate loans $261,961
    Real estate loans in domestic offices $261,961
    Construction and development loans $27,063
    Residential 1-4 family construction $17,700
    Other construction, all land development and other land $9,363
    Loans secured by nonfarm nonresidential properties $34,183
    Nonfarm nonresidential secured by owner-occupied properties $22,957
    Commercial real estate & other non-farm, non-residential $11,226
    Multifamily residential real estate $5,312
    1-4 family residential loans $195,403
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $34,258
    To non-U.S. addressees $0
    Loans to individuals $815
    Credit card loans $0
    Related Plans $21
    Consumer Auto Loans $52
    Other loans to individuals $742
    All other loans & leases $41
    Loans to foreign governments and official institutions $0
    Other loans $41
    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 $263
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Haverhill Bank had $294,097,000 of loans outstanding in 2018. $261,961,000 of loans were in real estate loans. $27,063,000 of loans were in development loans. $5,312,000 of loans were in multifamily mortgage loans. $195,403,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $52,000 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 76 $17,410 $229,079
    Nonfarm, nonresidential loans - <$100k 13 $868 $66,769
    Nonfarm, nonresidential loans - $100-250k 28 $3,345 $119,464
    Nonfarm, nonresidential loans - $250k-1MM 35 $13,197 $377,057
    Commercial & Industrial, US addressed loans - <$1MM 183 $23,140 $126,448
    Commercial & Industrial, US addressed loans - <$100k 91 $2,294 $25,209
    Commercial & Industrial, US addressed loans - $100-250k 40 $4,943 $123,575
    Commercial & Industrial, US addressed loans - $250k-1MM 52 $15,903 $305,827