The Pittsfield Co-operative Bank Mortgage Rates, Fees & Info
Pittsfield, MALEI: 549300UN8J4H5P8XWP62
Tax ID: 04-1731230
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Mortgage Data
Bank Data
Review & Overview
The Pittsfield Co-operative Bank is a smaller bank specializing in Home Purchase and Refi loans. The Pittsfield Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Pittsfield, Boston, and Springfield among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)The Pittsfield Co-operative 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.
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Originations
128Origination Dollar Volume (All Markets)
$23,820,000Employee count
50Top 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 |
|---|---|---|---|---|---|
| PITTSFIELD, MA (FHA|USDA|VA) | 124 | $22,180,000 | $178,871 | $0 | 0.00% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 2 | $1,460,000 | $730,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $145,000 | $145,000 | $0 | 0.00% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 1 | $35,000 | $35,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 128 | $23,820,000 | $186,094 | $0 | 0.00% |
For 2018, The Pittsfield Co-operative Bank's most frequently originated type of loan was Conventional, with 128 originations.
Loan Reason
For 2018, The Pittsfield Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 69 originations. The 2nd most popular reason was Refi, with 38 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 128 | $23,820,000 | $186,094 | $0 | 0.00% |
For 2018, The Pittsfield Co-operative Bank's most frequently cited loan duration was Other, with 128 originations.
Loan Sizing
2018 saw The Pittsfield Co-operative Bank place emphasis on $100k-200k loans with 54 originations, totaling $7,650,000 in origination value.
Applicant Income
The Pittsfield Co-operative Bank lent most frequently to those with incomes in the $150k-250k range, with 26 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% | 128 | $23,820,000 | $186,094 | $0 | 0.00% |
The Pittsfield Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 128 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications94.01%
The Pittsfield Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination77.34%
The Pittsfield Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 128 | $23,820,000 | $186,094 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $105,000 | $105,000 |
| Single Family (1-4 Units):Site-Built | 127 | $23,715,000 | $186,732 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The Pittsfield Co-operative Bank | 110 Dalton Avenue Pittsfield, MA 1201 | Full Service B&M | $25,962 |
| The Pittsfield Co-operative Bank | 325 Main Street Great Barrington, MA 1230 | Full Service B&M | $42,667 |
| The Pittsfield Co-operative Bank | 431 Main Street Dalton, MA 1226 | Full Service B&M | $43,573 |
| The Pittsfield Co-operative Bank | 70 South Street Pittsfield, MA 1201 | Full Service B&M | $133,045 |
For 2018, The Pittsfield Co-operative Bank had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $11,329 |
| Net interest income | $9,706 |
| Total noninterest income | $2,069 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $307 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,762 |
| Pre-tax net operating income | $2,868 |
| Securities gains (or losses, -) | $149 |
| Income before extraordinary items | $2,360 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,360 |
| Minority interest net income | $0 |
| Net income | $2,360 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,242 |
The Pittsfield Co-operative Bank's gross interest income from loans was $11,329,000.
The Pittsfield Co-operative Bank's net interest income from loans was $9,706,000.
The Pittsfield Co-operative Bank's fee based income from loans was $307,000.
The Pittsfield Co-operative Bank's net income from loans was $2,360,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,623 |
| Provision for credit losses | $542 |
| Total noninterest expense | $8,365 |
| Salaries and employee benefits | $4,734 |
| Premises and equipment expense | $923 |
| Additional noninterest expense | $2,708 |
| Applicable income taxes | $657 |
| Net charge-offs | $471 |
| Cash dividends | $0 |
The Pittsfield Co-operative Bank's interest expense for loans was $1,623,000.
The Pittsfield Co-operative Bank's payroll and benefits expense were $4,734,000.
The Pittsfield Co-operative Bank's property, plant and equipment expenses $923,000.
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 | 2.0% |
| Credit card loans | 0.0% |
| Other individual loans | 2.0% |
| Auto loans | 2.0% |
| Other consumer loans | 3.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $242,336 |
| Deposits held in domestic offices | $242,336 |
| Deposits by Individuals, partnerships, and corporations | $224,711 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $17,546 |
| Deposits by Commercial banks and other depository institutions in U.S. | $79 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $73,493 |
| Demand deposits | $58,092 |
| Nontransaction accounts | $168,843 |
| Money market deposit accounts (MMDAs) | $39,015 |
| Other savings deposits (excluding MMDAs) | $62,506 |
| Total time deposits | $67,322 |
| Total time and savings deposits | $184,244 |
| Noninterest-bearing deposits | $40,501 |
| Interest-bearing deposits | $201,835 |
| Retail deposits | $215,773 |
| IRAs and Keogh plan accounts | $13,011 |
| Brokered deposits | $3,707 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $307,290 |
| Cash & Balances due from depository institutions | $12,000 |
| Interest-bearing balances | $9,231 |
| Total securities | $38,994 |
| Federal funds sold & reverse repurchase | $1 |
| Net loans and leases | $226,318 |
| Loan and leases loss allowance | $1,874 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,059 |
| Other real estate owned | $613 |
| Goodwill and other intangibles | $7,558 |
| All other assets | $18,747 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $307,290 |
| Total Liabilities | $259,350 |
| Total deposits | $242,336 |
| Interest-bearing deposits | $201,835 |
| Deposits held in domestic offices | $242,336 |
| % insured (estimated) | $73 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $15,543 |
| Subordinated debt | $0 |
| All other liabilities | $1,471 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $226,318 |
| Loan and leases loss allowance | $1,874 |
| Total loans and leases (domestic) | $228,192 |
| All real estate loans | $211,543 |
| Real estate loans in domestic offices | $211,543 |
| Construction and development loans | $6,683 |
| Residential 1-4 family construction | $5,413 |
| Other construction, all land development and other land | $1,270 |
| Loans secured by nonfarm nonresidential properties | $40,326 |
| Nonfarm nonresidential secured by owner-occupied properties | $30,604 |
| Commercial real estate & other non-farm, non-residential | $9,722 |
| Multifamily residential real estate | $5,072 |
| 1-4 family residential loans | $159,462 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $13,945 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,720 |
| Credit card loans | $0 |
| Related Plans | $47 |
| Consumer Auto Loans | $1,488 |
| Other loans to individuals | $185 |
| All other loans & leases | $984 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $984 |
| 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 | $1,660 |
| Non 1-4 family restructured loans & leases | $1,520 |
| Total loans and leases (foreign) | $0 |
The Pittsfield Co-operative Bank had $226,318,000 of loans outstanding in 2018. $211,543,000 of loans were in real estate loans. $6,683,000 of loans were in development loans. $5,072,000 of loans were in multifamily mortgage loans. $159,462,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,488,000 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 | 108 | $24,107 | $223,213 |
| Nonfarm, nonresidential loans - <$100k | 24 | $1,065 | $44,375 |
| Nonfarm, nonresidential loans - $100-250k | 35 | $3,880 | $110,857 |
| Nonfarm, nonresidential loans - $250k-1MM | 49 | $19,162 | $391,061 |
| Commercial & Industrial, US addressed loans - <$1MM | 227 | $11,812 | $52,035 |
| Commercial & Industrial, US addressed loans - <$100k | 167 | $3,524 | $21,102 |
| Commercial & Industrial, US addressed loans - $100-250k | 42 | $3,792 | $90,286 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 18 | $4,496 | $249,778 |