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 Refi, Cash Out Refi, and Home Purchase loans. Coastal Heritage Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Worcester, Providence, and Portland among others. We have data for 6 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

    397

    Origination Dollar Volume (All Markets)

    $190,095,000

    Employee count

    130

    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) 378 $181,750,000 $480,820 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 10 $3,880,000 $388,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 4 $2,100,000 $525,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 3 $1,145,000 $381,667 $0 0.00%
    Outside of Metro Areas 1 $775,000 $775,000 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
    Coastal Heritage Bank's top markets include Boston, Barnstable Town, Worcester, Providence, and Portland among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 397 $190,095,000 $478,829 $0 0.00%

    For 2020, Coastal Heritage Bank's most frequently originated type of loan was Conventional, with 397 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 154 $65,320,000 $424,156 $0 0.00%
    Cash Out Refi 140 $57,190,000 $408,500 $0 0.00%
    Home Purchase 92 $62,790,000 $682,500 $0 0.00%
    Home Improvement 9 $4,255,000 $472,778 $0 0.00%
    Other 2 $540,000 $270,000 $0 0.00%

    For 2020, Coastal Heritage Bank's most frequently cited loan purpose was Refi, with 154 originations. The 2nd most popular reason was Cash Out Refi, with 140 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 397 $190,095,000 $478,829 $0 0.00%

    For 2020, Coastal Heritage Bank's most frequently cited loan duration was Other, with 397 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 169 $50,435,000 $298,432 $0 0.00%
    $400k-600k 98 $47,620,000 $485,918 $0 0.00%
    $600k-1MM 48 $35,230,000 $733,958 $0 0.00%
    $100k-200k 45 $7,185,000 $159,667 $0 0.00%
    $1MM+ 26 $48,810,000 $1,877,308 $0 0.00%
    $100,000 or less 11 $815,000 $74,091 $0 0.00%

    2020 saw Coastal Heritage Bank place emphasis on $200k-400k loans with 169 originations, totaling $50,435,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 119 $53,035,000 $445,672 $0 0.00%
    $100k-150k 84 $27,520,000 $327,619 $0 0.00%
    $250k+ 60 $34,230,000 $570,500 $0 0.00%
    $75k-100k 41 $10,275,000 $250,610 $0 0.00%
    $50k-75k 33 $7,285,000 $220,758 $0 0.00%
    $50k or less 9 $1,105,000 $122,778 $0 0.00%

    Coastal Heritage Bank lent most frequently to those with incomes in the $150k-250k range, with 119 originations. The second most popular income band? $100k-150k, with 84 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 397 $190,095,000 $478,829 $0 0.00%

    Coastal Heritage Bank lent most frequently to those with DTI ratios of Exempt%, with 397 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 327 $125,035,000 $382,370 $0 0.00%
    Not applicable 42 $54,000,000 $1,285,714 $0 0.00%
    Not provided 16 $6,510,000 $406,875 $0 0.00%
    Asian 10 $3,980,000 $398,000 $0 0.00%
    Black 2 $570,000 $285,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.45%

    Coastal Heritage Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    80.60%

    Coastal Heritage Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 397 $190,095,000 $478,829

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $10,575,000 $1,510,714
    Single Family (1-4 Units):Site-Built 390 $179,520,000 $460,308

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    Castle Credit Co Holdings, LLC, Chicago, IL Branch Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Coastal Heritage Bank 1 River Street Norwell, MA 2061 Full Service B&M $37,471
    Coastal Heritage Bank 111 Washington Street Quincy, MA 2169 Full Service B&M $2,263
    Coastal Heritage Bank 1165 Washington Street Hanover, MA 2339 Full Service B&M $30,699
    Coastal Heritage Bank 195 Washington Street Weymouth, MA 2188 Full Service B&M $116,265
    Coastal Heritage Bank 259 Dyke Road Marshfield, MA 2050 Full Service B&M $27,870
    Coastal Heritage Bank 28 Nahant Road Nahant, MA 1908 Full Service B&M $31,118
    Coastal Heritage Bank 30 Franklin Street Quincy, MA 2169 Full Service B&M $33,411
    Coastal Heritage Bank 400 Broadway Lynn, MA 1904 Full Service B&M $48,238
    Coastal Heritage Bank 50 Patriot Parkway Weymouth, MA 2190 Full Service B&M $61,198
    Coastal Heritage Bank 560 Plain Street Maarshfield, MA 2050 Full Service B&M $62,427
    Coastal Heritage Bank 6 Central Street East Bridgewater, MA 2333 Full Service B&M $16,606
    Coastal Heritage Bank 72 Front Street Scituate, MA 2066 Full Service B&M $110,142
    Coastal Heritage Bank 741 Broad Street East Weymouth, MA 2189 Limited, Drive-thru $1,458
    Coastal Heritage Bank 744 Broad Street East Weymouth, MA 2189 Full Service B&M $120,505
    Coastal Heritage Bank 83 Summer Street Kingston, MA 2364 Full Service B&M $41,492
    Coastal Heritage Bank One Derby Street Hingham, MA 2043 Full Service B&M $26,148

    For 2020, Coastal Heritage Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $33,651
    Net interest income $28,278
    Total noninterest income $4,508
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $463
    Trading account gains and fees $0
    Additional Noninterest Income $4,045
    Pre-tax net operating income $6,466
    Securities gains (or losses, -) $228
    Income before extraordinary items $5,020
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,020
    Minority interest net income $0
    Net income $5,020
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,839

    Coastal Heritage Bank's gross interest income from loans was $33,651,000.
    Coastal Heritage Bank's net interest income from loans was $28,278,000.
    Coastal Heritage Bank's fee based income from loans was $463,000.
    Coastal Heritage Bank's net income from loans was $5,020,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,373
    Provision for credit losses $1,844
    Total noninterest expense $24,476
    Salaries and employee benefits $14,282
    Premises and equipment expense $2,800
    Additional noninterest expense $7,394
    Applicable income taxes $1,674
    Net charge-offs $-103
    Cash dividends $0

    Coastal Heritage Bank's interest expense for loans was $5,373,000.
    Coastal Heritage Bank's payroll and benefits expense were $14,282,000.
    Coastal Heritage Bank's property, plant and equipment expenses $2,800,000.

    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 1.0%
    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 $799,018
    Deposits held in domestic offices $799,018
    Deposits by Individuals, partnerships, and corporations $792,715
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $6,303
    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 $273,534
    Demand deposits $106,589
    Nontransaction accounts $525,484
    Money market deposit accounts (MMDAs) $205,065
    Other savings deposits (excluding MMDAs) $162,976
    Total time deposits $157,444
    Total time and savings deposits $692,429
    Noninterest-bearing deposits $183,314
    Interest-bearing deposits $615,704
    Retail deposits $767,255
    IRAs and Keogh plan accounts $27,709
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $929,336
    Cash & Balances due from depository institutions $136,826
    Interest-bearing balances $128,367
    Total securities $55,308
    Federal funds sold & reverse repurchase $0
    Net loans and leases $692,741
    Loan and leases loss allowance $5,859
    Trading account assets $0
    Bank premises and fixed assets $13,553
    Other real estate owned $0
    Goodwill and other intangibles $7,128
    All other assets $23,780

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $929,336
    Total Liabilities $835,554
    Total deposits $799,018
    Interest-bearing deposits $615,704
    Deposits held in domestic offices $799,018
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $311
    Trading liabilities $0
    Other borrowed funds $30,357
    Subordinated debt $0
    All other liabilities $5,868

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $692,741
    Loan and leases loss allowance $5,859
    Total loans and leases (domestic) $698,600
    All real estate loans $618,612
    Real estate loans in domestic offices $618,612
    Construction and development loans $48,132
    Residential 1-4 family construction $39,442
    Other construction, all land development and other land $8,690
    Loans secured by nonfarm nonresidential properties $122,666
    Nonfarm nonresidential secured by owner-occupied properties $73,902
    Commercial real estate & other non-farm, non-residential $48,764
    Multifamily residential real estate $28,982
    1-4 family residential loans $418,832
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $65,991
    To non-U.S. addressees $0
    Loans to individuals $13,973
    Credit card loans $0
    Related Plans $85
    Consumer Auto Loans $797
    Other loans to individuals $13,091
    All other loans & leases $24
    Loans to foreign governments and official institutions $0
    Other loans $24
    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 $1,367
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Coastal Heritage Bank had $692,741,000 of loans outstanding in 2020. $618,612,000 of loans were in real estate loans. $48,132,000 of loans were in development loans. $28,982,000 of loans were in multifamily mortgage loans. $418,832,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $797,000 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 276 $76,206 $276,109
    Nonfarm, nonresidential loans - <$100k 51 $1,878 $36,824
    Nonfarm, nonresidential loans - $100-250k 71 $10,388 $146,310
    Nonfarm, nonresidential loans - $250k-1MM 154 $63,940 $415,195
    Commercial & Industrial, US addressed loans - <$1MM 837 $36,176 $43,221
    Commercial & Industrial, US addressed loans - <$100k 693 $13,806 $19,922
    Commercial & Industrial, US addressed loans - $100-250k 92 $9,125 $99,185
    Commercial & Industrial, US addressed loans - $250k-1MM 52 $13,245 $254,712