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

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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, Portland, and Worcester among others. We have data for 8 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

    196

    Origination Dollar Volume (All Markets)

    $55,940,000

    Employee count

    65

    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) 181 $51,245,000 $283,122 $0 0.00%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 7 $2,035,000 $290,714 $0 0.00%
    Laconia, NH (FHA|USDA|VA) 2 $790,000 $395,000 $0 0.00%
    Outside of Metro Areas 2 $690,000 $345,000 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    Keene, NH (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
    Concord, NH (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    Haverhill Bank's top markets include Boston, Manchester, Laconia, Portland, and Worcester 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 196 $55,940,000 $285,408 $0 0.00%

    For 2021, Haverhill Bank's most frequently originated type of loan was Conventional, with 196 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 80 $21,840,000 $273,000 $0 0.00%
    Home Purchase 56 $18,220,000 $325,357 $0 0.00%
    Refi 41 $11,645,000 $284,024 $0 0.00%
    Other 12 $3,480,000 $290,000 $0 0.00%
    Home Improvement 7 $755,000 $107,857 $0 0.00%

    For 2021, Haverhill Bank's most frequently cited loan purpose was Cash Out Refi, with 80 originations. The 2nd most popular reason was Home Purchase, with 56 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 196 $55,940,000 $285,408 $0 0.00%

    For 2021, Haverhill Bank's most frequently cited loan duration was Other, with 196 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 109 $31,035,000 $284,725 $0 0.00%
    $100k-200k 38 $5,860,000 $154,211 $0 0.00%
    $400k-600k 27 $12,515,000 $463,519 $0 0.00%
    $100,000 or less 15 $885,000 $59,000 $0 0.00%
    $600k-1MM 6 $4,540,000 $756,667 $0 0.00%
    $1MM+ 1 $1,105,000 $1,105,000 $0 0.00%

    2021 saw Haverhill Bank place emphasis on $200k-400k loans with 109 originations, totaling $31,035,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 49 $14,815,000 $302,347 $0 0.00%
    $75k-100k 39 $9,215,000 $236,282 $0 0.00%
    $150k-250k 36 $10,810,000 $300,278 $0 0.00%
    $50k-75k 27 $5,615,000 $207,963 $0 0.00%
    $250k+ 20 $8,590,000 $429,500 $0 0.00%
    $50k or less 13 $2,235,000 $171,923 $0 0.00%

    Haverhill Bank lent most frequently to those with incomes in the $100k-150k range, with 49 originations. The second most popular income band? $75k-100k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 196 $55,940,000 $285,408 $0 0.00%

    Haverhill Bank lent most frequently to those with DTI ratios of Exempt%, with 196 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 129 $36,385,000 $282,054 $0 0.00%
    Not provided 56 $14,440,000 $257,857 $0 0.00%
    Not applicable 5 $2,765,000 $553,000 $0 0.00%
    Black 4 $1,500,000 $375,000 $0 0.00%
    Asian 2 $850,000 $425,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    86.45%

    Haverhill Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.14%

    Haverhill Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 196 $55,940,000 $285,408

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    196 $55,940,000 $285,408

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Haverhill Bank 1094 Main Street Haverhill, MA 1830 Full Service B&M $88,438
    Haverhill Bank 115 Amesbury Line Road Haverhill, MA 1830 Limited, Mobile/Seasonal Office $5,249
    Haverhill Bank 137 Monument Ave. Haverhill, MA 1832 Limited, Mobile/Seasonal Office $741
    Haverhill Bank 163 South Main Street Haverhill, MA 1835 Full Service B&M $79,157
    Haverhill Bank 180 Merrimack St Haverhill, MA 1830 Full Service B&M $198,183
    Haverhill Bank 180 Merrimack Street Haverhill, MA 1830 Full Service Cyber Office $1,638
    Haverhill Bank 281 Main Street West Newbury, MA 1985 Full Service B&M $12,450
    Haverhill Bank 396 Main Street Salem, NH 3079 Full Service B&M $31,027
    Haverhill Bank 6 Main Street Merrimac, MA 1860 Full Service B&M $36,000

    For 2021, Haverhill Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,341
    Net interest income $12,368
    Total noninterest income $1,321
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $334
    Trading account gains and fees $0
    Additional Noninterest Income $987
    Pre-tax net operating income $2,416
    Securities gains (or losses, -) $4,576
    Income before extraordinary items $5,433
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,433
    Minority interest net income $0
    Net income $5,433
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,817

    Haverhill Bank's gross interest income from loans was $15,341,000.
    Haverhill Bank's net interest income from loans was $12,368,000.
    Haverhill Bank's fee based income from loans was $334,000.
    Haverhill Bank's net income from loans was $5,433,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,973
    Provision for credit losses $90
    Total noninterest expense $11,183
    Salaries and employee benefits $6,885
    Premises and equipment expense $1,038
    Additional noninterest expense $3,260
    Applicable income taxes $1,559
    Net charge-offs $-12
    Cash dividends $0

    Haverhill Bank's interest expense for loans was $2,973,000.
    Haverhill Bank's payroll and benefits expense were $6,885,000.
    Haverhill Bank's property, plant and equipment expenses $1,038,000.

    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 $464,326
    Deposits held in domestic offices $464,326
    Deposits by Individuals, partnerships, and corporations $452,640
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $11,537
    Deposits by Commercial banks and other depository institutions in U.S. $149
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $165,815
    Demand deposits $108,128
    Nontransaction accounts $298,511
    Money market deposit accounts (MMDAs) $86,317
    Other savings deposits (excluding MMDAs) $70,002
    Total time deposits $142,190
    Total time and savings deposits $356,198
    Noninterest-bearing deposits $108,128
    Interest-bearing deposits $356,198
    Retail deposits $409,260
    IRAs and Keogh plan accounts $29,526
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $539,010
    Cash & Balances due from depository institutions $74,232
    Interest-bearing balances $72,079
    Total securities $106,424
    Federal funds sold & reverse repurchase $0
    Net loans and leases $337,345
    Loan and leases loss allowance $3,131
    Trading account assets $0
    Bank premises and fixed assets $7,824
    Other real estate owned $0
    Goodwill and other intangibles $218
    All other assets $12,967

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $539,010
    Total Liabilities $484,697
    Total deposits $464,326
    Interest-bearing deposits $356,198
    Deposits held in domestic offices $464,326
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $17,625
    Subordinated debt $0
    All other liabilities $2,746

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $337,345
    Loan and leases loss allowance $3,131
    Total loans and leases (domestic) $340,476
    All real estate loans $312,992
    Real estate loans in domestic offices $312,992
    Construction and development loans $24,440
    Residential 1-4 family construction $24,347
    Other construction, all land development and other land $93
    Loans secured by nonfarm nonresidential properties $59,873
    Nonfarm nonresidential secured by owner-occupied properties $40,492
    Commercial real estate & other non-farm, non-residential $19,381
    Multifamily residential real estate $6,245
    1-4 family residential loans $222,434
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $18,625
    To non-U.S. addressees $0
    Loans to individuals $8,845
    Credit card loans $0
    Related Plans $18
    Consumer Auto Loans $8,575
    Other loans to individuals $252
    All other loans & leases $14
    Loans to foreign governments and official institutions $0
    Other loans $14
    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 $337,345,000 of loans outstanding in 2021. $312,992,000 of loans were in real estate loans. $24,440,000 of loans were in development loans. $6,245,000 of loans were in multifamily mortgage loans. $222,434,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $8,575,000 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 124 $23,357 $188,363
    Nonfarm, nonresidential loans - <$100k 37 $629 $17,000
    Nonfarm, nonresidential loans - $100-250k 44 $6,258 $142,227
    Nonfarm, nonresidential loans - $250k-1MM 43 $16,470 $383,023
    Commercial & Industrial, US addressed loans - <$1MM 287 $13,728 $47,833
    Commercial & Industrial, US addressed loans - <$100k 215 $1,449 $6,740
    Commercial & Industrial, US addressed loans - $100-250k 29 $2,241 $77,276
    Commercial & Industrial, US addressed loans - $250k-1MM 43 $10,038 $233,442