Coastal Heritage Bank Mortgage Rates, Fees & Info

Weymouth, MA

LEI: 549300URUSGWHXJ4OZ19

Tax ID: 04-1853160

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Mortgage Data

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

    Coastal Heritage Bank is a smaller bank specializing in Home Purchase and Refi loans. Coastal Heritage Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Worcester, Barnstable Town, and Providence among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Coastal Heritage Bank has an average approval rate when compared to the average across all lenders. They have an 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

    104

    Origination Dollar Volume (All Markets)

    $39,420,000

    Employee count

    51

    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) 101 $38,925,000 $385,396 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Coastal Heritage Bank's top markets include Boston, Worcester, Barnstable Town, and Providence among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 104 $39,420,000 $379,038 $0 0.00%

    For 2018, Coastal Heritage Bank's most frequently originated type of loan was Conventional, with 104 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 47 $23,365,000 $497,128 $0 0.00%
    Refi 27 $10,035,000 $371,667 $0 0.00%
    Home Improvement 13 $1,325,000 $101,923 $0 0.00%
    Cash Out Refi 12 $3,690,000 $307,500 $0 0.00%
    Other 5 $1,005,000 $201,000 $0 0.00%

    For 2018, Coastal Heritage Bank's most frequently cited loan purpose was Home Purchase, with 47 originations. The 2nd most popular reason was Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 104 $39,420,000 $379,038 $0 0.00%

    For 2018, Coastal Heritage Bank's most frequently cited loan duration was Other, with 104 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 37 $11,065,000 $299,054 $0 0.00%
    $400k-600k 23 $10,915,000 $474,565 $0 0.00%
    $100,000 or less 20 $1,310,000 $65,500 $0 0.00%
    $100k-200k 11 $1,685,000 $153,182 $0 0.00%
    $600k-1MM 8 $5,860,000 $732,500 $0 0.00%
    $1MM+ 5 $8,585,000 $1,717,000 $0 0.00%

    2018 saw Coastal Heritage Bank place emphasis on $200k-400k loans with 37 originations, totaling $11,065,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $5,495,000 $238,913 $0 0.00%
    $150k-250k 18 $7,360,000 $408,889 $0 0.00%
    $75k-100k 18 $4,740,000 $263,333 $0 0.00%
    $250k+ 8 $5,940,000 $742,500 $0 0.00%
    $50k-75k 6 $1,520,000 $253,333 $0 0.00%
    $50k or less 1 $45,000 $45,000 $0 0.00%

    Coastal Heritage Bank lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $150k-250k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 104 $39,420,000 $379,038 $0 0.00%

    Coastal Heritage Bank lent most frequently to those with DTI ratios of Exempt%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 61 $17,595,000 $288,443 $0 0.00%
    Not applicable 27 $13,835,000 $512,407 $0 0.00%
    Not provided 12 $5,610,000 $467,500 $0 0.00%
    Chinese 1 $1,085,000 $1,085,000 $0 0.00%
    Other Asian 1 $455,000 $455,000 $0 0.00%
    Asian Indian 1 $445,000 $445,000 $0 0.00%
    Asian 1 $395,000 $395,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.62%

    Coastal Heritage Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    92.31%

    Coastal Heritage Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 104 $39,420,000 $379,038

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $7,295,000 $1,042,143
    Single Family (1-4 Units):Site-Built 97 $32,125,000 $331,186

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Castle and Cookie Mortgage LLC FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Castle and Cookie Mortgage LLC FHA mortgage Closing on a mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Equitable Bank 111 Washington Street Quincy, MA 2169 Full Service B&M $1,166
    Equitable Bank 28 Nahant Road Nahant, MA 1908 Full Service B&M $27,733
    Equitable Bank 400 Broadway Lynn, MA 1904 Full Service B&M $49,026
    Equitable Bank 51 Columbian Street South Weymouth, MA 2190 Full Service B&M $60,865
    Equitable Bank 741 Broad Street East Weymouth, MA 2189 Limited, Drive-thru $0
    Equitable Bank 744 Broad Street East Weymouth, MA 2189 Full Service B&M $119,649
    Equitable Bank 83 Summer Street Kingston, MA 2364 Full Service B&M $31,599

    For 2018, Coastal Heritage Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,420
    Net interest income $10,823
    Total noninterest income $1,371
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $323
    Trading account gains and fees $0
    Additional Noninterest Income $1,048
    Pre-tax net operating income $1,883
    Securities gains (or losses, -) $-124
    Income before extraordinary items $1,324
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,324
    Minority interest net income $0
    Net income $1,324
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,421

    Coastal Heritage Bank's gross interest income from loans was $12,420,000.
    Coastal Heritage Bank's net interest income from loans was $10,823,000.
    Coastal Heritage Bank's fee based income from loans was $323,000.
    Coastal Heritage Bank's net income from loans was $1,324,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,597
    Provision for credit losses $220
    Total noninterest expense $10,091
    Salaries and employee benefits $5,549
    Premises and equipment expense $1,431
    Additional noninterest expense $3,111
    Applicable income taxes $435
    Net charge-offs $61
    Cash dividends $0

    Coastal Heritage Bank's interest expense for loans was $1,597,000.
    Coastal Heritage Bank's payroll and benefits expense were $5,549,000.
    Coastal Heritage Bank's property, plant and equipment expenses $1,431,000.

    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 6.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 4.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $286,150
    Deposits held in domestic offices $286,150
    Deposits by Individuals, partnerships, and corporations $282,170
    Deposits by U.S. Government $5
    Deposits by States and political subdivisions in the U.S. $3,975
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $91,793
    Demand deposits $44,595
    Nontransaction accounts $194,357
    Money market deposit accounts (MMDAs) $50,472
    Other savings deposits (excluding MMDAs) $77,273
    Total time deposits $66,612
    Total time and savings deposits $241,555
    Noninterest-bearing deposits $44,595
    Interest-bearing deposits $241,555
    Retail deposits $261,800
    IRAs and Keogh plan accounts $11,466
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $324,574
    Cash & Balances due from depository institutions $15,252
    Interest-bearing balances $11,181
    Total securities $29,767
    Federal funds sold & reverse repurchase $0
    Net loans and leases $259,970
    Loan and leases loss allowance $1,535
    Trading account assets $0
    Bank premises and fixed assets $7,663
    Other real estate owned $0
    Goodwill and other intangibles $1,153
    All other assets $10,769

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $324,574
    Total Liabilities $290,086
    Total deposits $286,150
    Interest-bearing deposits $241,555
    Deposits held in domestic offices $286,150
    % insured (estimated) $81
    Federal funds purchased and repurchase agreements $175
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $3,761

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $259,970
    Loan and leases loss allowance $1,535
    Total loans and leases (domestic) $261,505
    All real estate loans $228,552
    Real estate loans in domestic offices $228,552
    Construction and development loans $6,857
    Residential 1-4 family construction $858
    Other construction, all land development and other land $5,999
    Loans secured by nonfarm nonresidential properties $53,223
    Nonfarm nonresidential secured by owner-occupied properties $28,523
    Commercial real estate & other non-farm, non-residential $24,700
    Multifamily residential real estate $15,394
    1-4 family residential loans $153,078
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $12,125
    To non-U.S. addressees $0
    Loans to individuals $20,802
    Credit card loans $0
    Related Plans $69
    Consumer Auto Loans $287
    Other loans to individuals $20,446
    All other loans & leases $26
    Loans to foreign governments and official institutions $0
    Other loans $26
    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

    Coastal Heritage Bank had $259,970,000 of loans outstanding in 2018. $228,552,000 of loans were in real estate loans. $6,857,000 of loans were in development loans. $15,394,000 of loans were in multifamily mortgage loans. $153,078,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $287,000 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 134 $38,669 $288,575
    Nonfarm, nonresidential loans - <$100k 17 $1,599 $94,059
    Nonfarm, nonresidential loans - $100-250k 41 $5,764 $140,585
    Nonfarm, nonresidential loans - $250k-1MM 76 $31,306 $411,921
    Commercial & Industrial, US addressed loans - <$1MM 403 $11,477 $28,479
    Commercial & Industrial, US addressed loans - <$100k 371 $6,677 $17,997
    Commercial & Industrial, US addressed loans - $100-250k 18 $1,205 $66,944
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $3,595 $256,786