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 Cash Out Refi, Home Purchase, and Refi loans. Coastal Heritage Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Providence, and Worcester 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 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

    254

    Origination Dollar Volume (All Markets)

    $118,740,000

    Employee count

    142

    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) 245 $114,115,000 $465,776 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 5 $3,655,000 $731,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $825,000 $275,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
    Coastal Heritage Bank's top markets include Boston, Barnstable Town, Providence, and Worcester among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 254 $118,740,000 $467,480 $0 0.00%

    For 2019, Coastal Heritage Bank's most frequently originated type of loan was Conventional, with 254 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 91 $36,315,000 $399,066 $0 0.00%
    Home Purchase 90 $49,170,000 $546,333 $0 0.00%
    Refi 62 $30,910,000 $498,548 $0 0.00%
    Home Improvement 7 $1,435,000 $205,000 $0 0.00%
    Other 4 $910,000 $227,500 $0 0.00%

    For 2019, Coastal Heritage Bank's most frequently cited loan purpose was Cash Out Refi, with 91 originations. The 2nd most popular reason was Home Purchase, with 90 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 254 $118,740,000 $467,480 $0 0.00%

    For 2019, Coastal Heritage Bank's most frequently cited loan duration was Other, with 254 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 98 $29,280,000 $298,776 $0 0.00%
    $400k-600k 62 $30,420,000 $490,645 $0 0.00%
    $600k-1MM 40 $29,810,000 $745,250 $0 0.00%
    $100k-200k 25 $4,035,000 $161,400 $0 0.00%
    $1MM+ 16 $24,310,000 $1,519,375 $0 0.00%
    $100,000 or less 13 $885,000 $68,077 $0 0.00%

    2019 saw Coastal Heritage Bank place emphasis on $200k-400k loans with 98 originations, totaling $29,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 57 $21,375,000 $375,000 $0 0.00%
    $150k-250k 54 $24,160,000 $447,407 $0 0.00%
    $250k+ 40 $32,020,000 $800,500 $0 0.00%
    $50k-75k 24 $5,930,000 $247,083 $0 0.00%
    $75k-100k 22 $5,910,000 $268,636 $0 0.00%
    $50k or less 10 $2,260,000 $226,000 $0 0.00%

    Coastal Heritage Bank lent most frequently to those with incomes in the $100k-150k range, with 57 originations. The second most popular income band? $150k-250k, with 54 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 254 $118,740,000 $467,480 $0 0.00%

    Coastal Heritage Bank lent most frequently to those with DTI ratios of Exempt%, with 254 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 202 $87,230,000 $431,832 $0 0.00%
    Not applicable 35 $23,785,000 $679,571 $0 0.00%
    Not provided 9 $4,555,000 $506,111 $0 0.00%
    Black 4 $1,660,000 $415,000 $0 0.00%
    Asian 3 $1,345,000 $448,333 $0 0.00%
    Asian Indian 1 $165,000 $165,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.46%

    Coastal Heritage Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.83%

    Coastal Heritage Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 254 $118,740,000 $467,480

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $8,565,000 $951,667
    Single Family (1-4 Units):Site-Built 245 $110,175,000 $449,694

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Castle and Cookie Mortgage LLC Conventional home mortgage Closing on a mortgage 1 50.0%
    Castle and Cookie Mortgage LLC Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Coastal Heritage Bank 1 River Street Norwell, MA 2061 Full Service B&M $34,679
    Coastal Heritage Bank 111 Washington Street Quincy, MA 2169 Full Service B&M $3,607
    Coastal Heritage Bank 1165 Washington Street Hanover, MA 2339 Full Service B&M $26,439
    Coastal Heritage Bank 195 Washington Street Weymouth, MA 2188 Full Service B&M $103,942
    Coastal Heritage Bank 259 Dyke Road Marshfield, MA 2050 Full Service B&M $26,896
    Coastal Heritage Bank 28 Nahant Road Nahant, MA 1908 Full Service B&M $28,432
    Coastal Heritage Bank 30 Franklin Street Quincy, MA 2169 Full Service B&M $32,536
    Coastal Heritage Bank 400 Broadway Lynn, MA 1904 Full Service B&M $51,818
    Coastal Heritage Bank 50 Patriot Parkway Weymouth, MA 2190 Full Service B&M $57,952
    Coastal Heritage Bank 560 Plain Street Maarshfield, MA 2050 Full Service B&M $58,588
    Coastal Heritage Bank 6 Central Street East Bridgewater, MA 2333 Full Service B&M $17,725
    Coastal Heritage Bank 72 Front Street Scituate, MA 2066 Full Service B&M $98,390
    Coastal Heritage Bank 741 Broad Street East Weymouth, MA 2189 Limited, Drive-thru $476
    Coastal Heritage Bank 744 Broad Street East Weymouth, MA 2189 Full Service B&M $110,636
    Coastal Heritage Bank 83 Summer Street Kingston, MA 2364 Full Service B&M $38,205
    Coastal Heritage Bank One Derby Street Hingham, MA 2043 Full Service B&M $24,608

    For 2019, Coastal Heritage Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $32,030
    Net interest income $24,397
    Total noninterest income $2,539
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $588
    Trading account gains and fees $0
    Additional Noninterest Income $1,951
    Pre-tax net operating income $1,841
    Securities gains (or losses, -) $-14
    Income before extraordinary items $1,602
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,602
    Minority interest net income $0
    Net income $1,602
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,614

    Coastal Heritage Bank's gross interest income from loans was $32,030,000.
    Coastal Heritage Bank's net interest income from loans was $24,397,000.
    Coastal Heritage Bank's fee based income from loans was $588,000.
    Coastal Heritage Bank's net income from loans was $1,602,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,633
    Provision for credit losses $907
    Total noninterest expense $24,188
    Salaries and employee benefits $13,868
    Premises and equipment expense $2,659
    Additional noninterest expense $7,661
    Applicable income taxes $225
    Net charge-offs $6
    Cash dividends $0

    Coastal Heritage Bank's interest expense for loans was $7,633,000.
    Coastal Heritage Bank's payroll and benefits expense were $13,868,000.
    Coastal Heritage Bank's property, plant and equipment expenses $2,659,000.

    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 $687,292
    Deposits held in domestic offices $687,292
    Deposits by Individuals, partnerships, and corporations $683,502
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,790
    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 $206,055
    Demand deposits $75,066
    Nontransaction accounts $481,237
    Money market deposit accounts (MMDAs) $144,234
    Other savings deposits (excluding MMDAs) $135,999
    Total time deposits $201,003
    Total time and savings deposits $612,226
    Noninterest-bearing deposits $132,967
    Interest-bearing deposits $554,325
    Retail deposits $647,215
    IRAs and Keogh plan accounts $29,321
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $848,382
    Cash & Balances due from depository institutions $23,910
    Interest-bearing balances $15,437
    Total securities $62,805
    Federal funds sold & reverse repurchase $0
    Net loans and leases $714,393
    Loan and leases loss allowance $3,911
    Trading account assets $0
    Bank premises and fixed assets $14,586
    Other real estate owned $0
    Goodwill and other intangibles $7,763
    All other assets $24,925

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $848,382
    Total Liabilities $760,020
    Total deposits $687,292
    Interest-bearing deposits $554,325
    Deposits held in domestic offices $687,292
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $218
    Trading liabilities $0
    Other borrowed funds $64,614
    Subordinated debt $0
    All other liabilities $7,896

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $714,393
    Loan and leases loss allowance $3,911
    Total loans and leases (domestic) $718,304
    All real estate loans $656,859
    Real estate loans in domestic offices $656,859
    Construction and development loans $37,013
    Residential 1-4 family construction $24,232
    Other construction, all land development and other land $12,781
    Loans secured by nonfarm nonresidential properties $123,219
    Nonfarm nonresidential secured by owner-occupied properties $74,432
    Commercial real estate & other non-farm, non-residential $48,787
    Multifamily residential real estate $26,183
    1-4 family residential loans $470,444
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $45,173
    To non-U.S. addressees $0
    Loans to individuals $16,232
    Credit card loans $0
    Related Plans $135
    Consumer Auto Loans $652
    Other loans to individuals $15,445
    All other loans & leases $41
    Loans to foreign governments and official institutions $0
    Other loans $41
    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 $1,428
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Coastal Heritage Bank had $714,393,000 of loans outstanding in 2019. $656,859,000 of loans were in real estate loans. $37,013,000 of loans were in development loans. $26,183,000 of loans were in multifamily mortgage loans. $470,444,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $652,000 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 285 $78,459 $275,295
    Nonfarm, nonresidential loans - <$100k 57 $2,423 $42,509
    Nonfarm, nonresidential loans - $100-250k 73 $10,816 $148,164
    Nonfarm, nonresidential loans - $250k-1MM 155 $65,220 $420,774
    Commercial & Industrial, US addressed loans - <$1MM 659 $19,467 $29,540
    Commercial & Industrial, US addressed loans - <$100k 569 $8,047 $14,142
    Commercial & Industrial, US addressed loans - $100-250k 53 $3,503 $66,094
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $7,917 $213,973