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 Cash Out Refi, Home Purchase, and Refi loans. Haverhill Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Manchester, Laconia, and Portland among others. We have data for 5 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.

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    Originations

    142

    Origination Dollar Volume (All Markets)

    $41,620,000

    Employee count

    72

    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) 134 $39,050,000 $291,418 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 5 $1,255,000 $251,000 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 1 $755,000 $755,000 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
    Outside of Metro Areas 1 $235,000 $235,000 $0 0.00%
    Haverhill Bank's top markets include Boston, Manchester, Laconia, 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 142 $41,620,000 $293,099 $0 0.00%

    For 2020, Haverhill Bank's most frequently originated type of loan was Conventional, with 142 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 51 $13,405,000 $262,843 $0 0.00%
    Home Purchase 48 $16,500,000 $343,750 $0 0.00%
    Refi 28 $9,420,000 $336,429 $0 0.00%
    Other 6 $960,000 $160,000 $0 0.00%
    Home Improvement 5 $605,000 $121,000 $0 0.00%
    NA 4 $730,000 $182,500 $0 0.00%

    For 2020, Haverhill Bank's most frequently cited loan purpose was Cash Out Refi, with 51 originations. The 2nd most popular reason was Home Purchase, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 142 $41,620,000 $293,099 $0 0.00%

    For 2020, Haverhill Bank's most frequently cited loan duration was Other, with 142 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 68 $19,770,000 $290,735 $0 0.00%
    $100k-200k 38 $6,000,000 $157,895 $0 0.00%
    $100,000 or less 15 $785,000 $52,333 $0 0.00%
    $400k-600k 12 $5,650,000 $470,833 $0 0.00%
    $600k-1MM 6 $4,110,000 $685,000 $0 0.00%
    $1MM+ 3 $5,305,000 $1,768,333 $0 0.00%

    2020 saw Haverhill Bank place emphasis on $200k-400k loans with 68 originations, totaling $19,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 33 $6,665,000 $201,970 $0 0.00%
    $100k-150k 31 $8,555,000 $275,968 $0 0.00%
    $50k-75k 25 $4,375,000 $175,000 $0 0.00%
    $150k-250k 23 $7,795,000 $338,913 $0 0.00%
    $250k+ 9 $5,225,000 $580,556 $0 0.00%
    $50k or less 6 $990,000 $165,000 $0 0.00%

    Haverhill Bank lent most frequently to those with incomes in the $75k-100k range, with 33 originations. The second most popular income band? $100k-150k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 142 $41,620,000 $293,099 $0 0.00%

    Haverhill Bank lent most frequently to those with DTI ratios of Exempt%, with 142 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not provided 71 $17,775,000 $250,352 $0 0.00%
    White 55 $15,465,000 $281,182 $0 0.00%
    Not applicable 14 $7,780,000 $555,714 $0 0.00%
    Asian 2 $600,000 $300,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.21%

    Haverhill Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    71.13%

    Haverhill Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 142 $41,620,000 $293,099

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $3,005,000 $3,005,000
    Single Family (1-4 Units):Site-Built 141 $38,615,000 $273,865

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Haverhill Bank 1094 Main Street Haverhill, MA 1830 Full Service B&M $79,727
    Haverhill Bank 115 Amesbury Line Road Haverhill, MA 1830 Limited, Mobile/Seasonal Office $3,685
    Haverhill Bank 137 Monument Ave. Haverhill, MA 1832 Limited, Mobile/Seasonal Office $821
    Haverhill Bank 163 South Main Street Haverhill, MA 1835 Full Service B&M $66,387
    Haverhill Bank 180 Merrimack Street Haverhill, MA 1830 Full Service Cyber Office $726
    Haverhill Bank 180 Merrimack Street Haverhill, MA 1830 Full Service B&M $177,388
    Haverhill Bank 281 Main Street West Newbury, MA 1985 Full Service B&M $8,947
    Haverhill Bank 396 Main Street Salem, NH 3079 Full Service B&M $23,774
    Haverhill Bank 6 Main Street Merrimac, MA 1860 Full Service B&M $29,980

    For 2020, Haverhill Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,876
    Net interest income $12,205
    Total noninterest income $1,250
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $336
    Trading account gains and fees $0
    Additional Noninterest Income $914
    Pre-tax net operating income $2,006
    Securities gains (or losses, -) $3,379
    Income before extraordinary items $4,198
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,198
    Minority interest net income $0
    Net income $4,198
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,528

    Haverhill Bank's gross interest income from loans was $15,876,000.
    Haverhill Bank's net interest income from loans was $12,205,000.
    Haverhill Bank's fee based income from loans was $336,000.
    Haverhill Bank's net income from loans was $4,198,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,671
    Provision for credit losses $193
    Total noninterest expense $11,256
    Salaries and employee benefits $7,234
    Premises and equipment expense $955
    Additional noninterest expense $3,067
    Applicable income taxes $1,187
    Net charge-offs $21
    Cash dividends $0

    Haverhill Bank's interest expense for loans was $3,671,000.
    Haverhill Bank's payroll and benefits expense were $7,234,000.
    Haverhill Bank's property, plant and equipment expenses $955,000.

    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 $430,340
    Deposits held in domestic offices $430,340
    Deposits by Individuals, partnerships, and corporations $417,442
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $12,706
    Deposits by Commercial banks and other depository institutions in U.S. $192
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $147,673
    Demand deposits $95,182
    Nontransaction accounts $282,667
    Money market deposit accounts (MMDAs) $72,449
    Other savings deposits (excluding MMDAs) $65,255
    Total time deposits $144,962
    Total time and savings deposits $335,158
    Noninterest-bearing deposits $95,182
    Interest-bearing deposits $335,158
    Retail deposits $374,730
    IRAs and Keogh plan accounts $28,431
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $504,646
    Cash & Balances due from depository institutions $85,256
    Interest-bearing balances $81,074
    Total securities $82,078
    Federal funds sold & reverse repurchase $0
    Net loans and leases $315,054
    Loan and leases loss allowance $3,029
    Trading account assets $0
    Bank premises and fixed assets $8,057
    Other real estate owned $0
    Goodwill and other intangibles $218
    All other assets $13,983

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $504,646
    Total Liabilities $454,261
    Total deposits $430,340
    Interest-bearing deposits $335,158
    Deposits held in domestic offices $430,340
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $21,165
    Subordinated debt $0
    All other liabilities $2,756

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $315,054
    Loan and leases loss allowance $3,029
    Total loans and leases (domestic) $318,083
    All real estate loans $271,682
    Real estate loans in domestic offices $271,682
    Construction and development loans $25,296
    Residential 1-4 family construction $22,832
    Other construction, all land development and other land $2,464
    Loans secured by nonfarm nonresidential properties $50,842
    Nonfarm nonresidential secured by owner-occupied properties $35,196
    Commercial real estate & other non-farm, non-residential $15,646
    Multifamily residential real estate $5,874
    1-4 family residential loans $189,670
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $46,074
    To non-U.S. addressees $0
    Loans to individuals $319
    Credit card loans $0
    Related Plans $15
    Consumer Auto Loans $4
    Other loans to individuals $300
    All other loans & leases $8
    Loans to foreign governments and official institutions $0
    Other loans $8
    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 $315,054,000 of loans outstanding in 2020. $271,682,000 of loans were in real estate loans. $25,296,000 of loans were in development loans. $5,874,000 of loans were in multifamily mortgage loans. $189,670,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,000 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 123 $24,051 $195,537
    Nonfarm, nonresidential loans - <$100k 35 $710 $20,286
    Nonfarm, nonresidential loans - $100-250k 44 $6,310 $143,409
    Nonfarm, nonresidential loans - $250k-1MM 44 $17,031 $387,068
    Commercial & Industrial, US addressed loans - <$1MM 519 $27,283 $52,568
    Commercial & Industrial, US addressed loans - <$100k 407 $6,762 $16,614
    Commercial & Industrial, US addressed loans - $100-250k 57 $6,426 $112,737
    Commercial & Industrial, US addressed loans - $250k-1MM 55 $14,095 $256,273