Haverhill Bank Mortgage Rates, Fees & Info

Haverhill, MA

LEI: 549300T92XVMWQW75772

Tax ID: 04-1426920

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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 and Refi loans. Haverhill Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Laconia, Concord, and Portland 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 above 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.

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    Originations

    129

    Origination Dollar Volume (All Markets)

    $29,595,000

    Employee count

    71

    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) 117 $26,755,000 $228,675 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 4 $1,230,000 $307,500 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 3 $745,000 $248,333 $0 0.00%
    Concord, NH (FHA|USDA|VA) 1 $295,000 $295,000 $0 0.00%
    Outside of Metro Areas 1 $255,000 $255,000 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 2 $200,000 $100,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Haverhill Bank's top markets include Boston, Manchester, Laconia, Concord, and Portland 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 $29,595,000 $229,419 $0 0.00%

    For 2019, 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 63 $17,605,000 $279,444 $0 0.00%
    Refi 31 $6,585,000 $212,419 $0 0.00%
    Home Improvement 16 $2,250,000 $140,625 $0 0.00%
    Cash Out Refi 14 $2,370,000 $169,286 $0 0.00%
    Other 5 $785,000 $157,000 $0 0.00%

    For 2019, Haverhill Bank's most frequently cited loan purpose was Home Purchase, with 63 originations. The 2nd most popular reason was Refi, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 129 $29,595,000 $229,419 $0 0.00%

    For 2019, 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 56 $15,770,000 $281,607 $0 0.00%
    $100k-200k 34 $4,710,000 $138,529 $0 0.00%
    $100,000 or less 25 $1,245,000 $49,800 $0 0.00%
    $400k-600k 12 $5,560,000 $463,333 $0 0.00%
    $1MM+ 1 $1,645,000 $1,645,000 $0 0.00%
    $600k-1MM 1 $665,000 $665,000 $0 0.00%

    2019 saw Haverhill Bank place emphasis on $200k-400k loans with 56 originations, totaling $15,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 38 $8,890,000 $233,947 $0 0.00%
    $50k-75k 23 $4,015,000 $174,565 $0 0.00%
    $75k-100k 21 $4,505,000 $214,524 $0 0.00%
    $50k or less 16 $2,130,000 $133,125 $0 0.00%
    $150k-250k 13 $4,485,000 $345,000 $0 0.00%
    $250k+ 4 $1,520,000 $380,000 $0 0.00%

    Haverhill Bank lent most frequently to those with incomes in the $100k-150k range, with 38 originations. The second most popular income band? $50k-75k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 129 $29,595,000 $229,419 $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 87 $18,245,000 $209,713 $0 0.00%
    Not provided 29 $7,455,000 $257,069 $0 0.00%
    Not applicable 12 $3,770,000 $314,167 $0 0.00%
    Other Asian 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.36%

    Haverhill Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.05%

    Haverhill Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 129 $29,595,000 $229,419

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 129 $29,595,000 $229,419

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Haverhill Bank 1094 Main Street Haverhill, MA 1830 Full Service B&M $62,383
    Haverhill Bank 115 Amesbury Line Road Haverhill, MA 1830 Limited, Mobile/Seasonal Office $4,207
    Haverhill Bank 137 Monument Ave. Haverhill, MA 1832 Limited, Mobile/Seasonal Office $808
    Haverhill Bank 163 South Main Street Haverhill, MA 1835 Full Service B&M $61,153
    Haverhill Bank 180 Merrimack Street Haverhill, MA 1830 Full Service Cyber Office $215
    Haverhill Bank 180 Merrimack Street Haverhill, MA 1830 Full Service B&M $152,017
    Haverhill Bank 281 Main Street West Newbury, MA 1985 Full Service B&M $8,478
    Haverhill Bank 396 Main Street Salem, NH 3079 Full Service B&M $17,378
    Haverhill Bank 6 Main Street Merrimac, MA 1860 Full Service B&M $30,275

    For 2019, Haverhill Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $16,242
    Net interest income $12,473
    Total noninterest income $1,513
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $460
    Trading account gains and fees $0
    Additional Noninterest Income $1,053
    Pre-tax net operating income $2,813
    Securities gains (or losses, -) $120
    Income before extraordinary items $2,322
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,322
    Minority interest net income $0
    Net income $2,322
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,227

    Haverhill Bank's gross interest income from loans was $16,242,000.
    Haverhill Bank's net interest income from loans was $12,473,000.
    Haverhill Bank's fee based income from loans was $460,000.
    Haverhill Bank's net income from loans was $2,322,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,769
    Provision for credit losses $90
    Total noninterest expense $11,083
    Salaries and employee benefits $6,856
    Premises and equipment expense $1,000
    Additional noninterest expense $3,227
    Applicable income taxes $611
    Net charge-offs $211
    Cash dividends $0

    Haverhill Bank's interest expense for loans was $3,769,000.
    Haverhill Bank's payroll and benefits expense were $6,856,000.
    Haverhill Bank's property, plant and equipment expenses $1,000,000.

    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 1.0%
    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 $345,484
    Deposits held in domestic offices $345,484
    Deposits by Individuals, partnerships, and corporations $334,636
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $10,458
    Deposits by Commercial banks and other depository institutions in U.S. $390
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $106,346
    Demand deposits $64,303
    Nontransaction accounts $239,138
    Money market deposit accounts (MMDAs) $51,361
    Other savings deposits (excluding MMDAs) $56,285
    Total time deposits $131,492
    Total time and savings deposits $281,181
    Noninterest-bearing deposits $64,303
    Interest-bearing deposits $281,181
    Retail deposits $293,020
    IRAs and Keogh plan accounts $23,805
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $415,913
    Cash & Balances due from depository institutions $23,871
    Interest-bearing balances $18,815
    Total securities $67,596
    Federal funds sold & reverse repurchase $0
    Net loans and leases $302,012
    Loan and leases loss allowance $2,856
    Trading account assets $0
    Bank premises and fixed assets $8,118
    Other real estate owned $0
    Goodwill and other intangibles $218
    All other assets $14,098

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $415,913
    Total Liabilities $369,412
    Total deposits $345,484
    Interest-bearing deposits $281,181
    Deposits held in domestic offices $345,484
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $21,730
    Subordinated debt $0
    All other liabilities $2,198

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $302,012
    Loan and leases loss allowance $2,856
    Total loans and leases (domestic) $304,868
    All real estate loans $259,728
    Real estate loans in domestic offices $259,728
    Construction and development loans $27,041
    Residential 1-4 family construction $21,923
    Other construction, all land development and other land $5,118
    Loans secured by nonfarm nonresidential properties $33,587
    Nonfarm nonresidential secured by owner-occupied properties $21,546
    Commercial real estate & other non-farm, non-residential $12,041
    Multifamily residential real estate $4,566
    1-4 family residential loans $194,534
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $44,397
    To non-U.S. addressees $0
    Loans to individuals $706
    Credit card loans $0
    Related Plans $24
    Consumer Auto Loans $10
    Other loans to individuals $672
    All other loans & leases $37
    Loans to foreign governments and official institutions $0
    Other loans $37
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Haverhill Bank had $302,012,000 of loans outstanding in 2019. $259,728,000 of loans were in real estate loans. $27,041,000 of loans were in development loans. $4,566,000 of loans were in multifamily mortgage loans. $194,534,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $10,000 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 96 $14,901 $155,219
    Nonfarm, nonresidential loans - <$100k 29 $703 $24,241
    Nonfarm, nonresidential loans - $100-250k 36 $4,388 $121,889
    Nonfarm, nonresidential loans - $250k-1MM 31 $9,810 $316,452
    Commercial & Industrial, US addressed loans - <$1MM 306 $25,627 $83,748
    Commercial & Industrial, US addressed loans - <$100k 199 $2,169 $10,899
    Commercial & Industrial, US addressed loans - $100-250k 49 $5,152 $105,143
    Commercial & Industrial, US addressed loans - $250k-1MM 58 $18,306 $315,621