Coastal Heritage Bank Mortgage Rates, Fees & Info

Weymouth, MA

LEI: 549300URUSGWHXJ4OZ19

Tax ID: 04-1853160

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
  • 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, 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, Providence, Vineyard Haven, and Worcester among others. We have data for 5 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

    334

    Origination Dollar Volume (All Markets)

    $183,040,000

    Employee count

    109

    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) 317 $173,845,000 $548,407 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 11 $5,885,000 $535,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 4 $2,130,000 $532,500 $0 0.00%
    Vineyard Haven, MA (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 1 $375,000 $375,000 $0 0.00%
    Coastal Heritage Bank's top markets include Boston, Barnstable Town, Providence, Vineyard Haven, 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 334 $183,040,000 $548,024 $0 0.00%

    For 2021, Coastal Heritage Bank's most frequently originated type of loan was Conventional, with 334 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 132 $59,910,000 $453,864 $0 0.00%
    Refi 102 $51,240,000 $502,353 $0 0.00%
    Home Purchase 94 $69,140,000 $735,532 $0 0.00%
    Home Improvement 6 $2,750,000 $458,333 $0 0.00%

    For 2021, Coastal Heritage Bank's most frequently cited loan purpose was Cash Out Refi, with 132 originations. The 2nd most popular reason was Refi, with 102 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 334 $183,040,000 $548,024 $0 0.00%

    For 2021, Coastal Heritage Bank's most frequently cited loan duration was Other, with 334 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 141 $42,135,000 $298,830 $0 0.00%
    $400k-600k 68 $33,840,000 $497,647 $0 0.00%
    $600k-1MM 55 $40,895,000 $743,545 $0 0.00%
    $100k-200k 33 $5,005,000 $151,667 $0 0.00%
    $1MM+ 33 $60,805,000 $1,842,576 $0 0.00%
    $100,000 or less 4 $360,000 $90,000 $0 0.00%

    2021 saw Coastal Heritage Bank place emphasis on $200k-400k loans with 141 originations, totaling $42,135,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 75 $34,145,000 $455,267 $0 0.00%
    $100k-150k 67 $23,075,000 $344,403 $0 0.00%
    $250k+ 58 $45,180,000 $778,966 $0 0.00%
    $50k-75k 43 $10,505,000 $244,302 $0 0.00%
    $75k-100k 38 $9,810,000 $258,158 $0 0.00%
    $50k or less 4 $950,000 $237,500 $0 0.00%

    Coastal Heritage Bank lent most frequently to those with incomes in the $150k-250k range, with 75 originations. The second most popular income band? $100k-150k, with 67 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 334 $183,040,000 $548,024 $0 0.00%

    Coastal Heritage Bank lent most frequently to those with DTI ratios of Exempt%, with 334 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 257 $113,965,000 $443,444 $0 0.00%
    Not applicable 41 $55,115,000 $1,344,268 $0 0.00%
    Not provided 28 $9,300,000 $332,143 $0 0.00%
    Asian 3 $2,355,000 $785,000 $0 0.00%
    Black 3 $1,325,000 $441,667 $0 0.00%
    Other Asian 1 $705,000 $705,000 $0 0.00%
    American Indian 1 $275,000 $275,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.98%

    Coastal Heritage Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.53%

    Coastal Heritage Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 334 $183,040,000 $548,024

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    334 $183,040,000 $548,024

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Coastal Credit, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%
    Coastal Credit, LLC Home equity loan or line of credit (HELOC) 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 $37,767
    Coastal Heritage Bank 111 Washington Street Quincy, MA 2169 Full Service B&M $1,579
    Coastal Heritage Bank 1165 Washington Street Hanover, MA 2339 Full Service B&M $35,402
    Coastal Heritage Bank 195 Washington St Weymouth, MA 2188 Full Service B&M $121,034
    Coastal Heritage Bank 259 Dyke Road Marshfield, MA 2050 Full Service B&M $27,797
    Coastal Heritage Bank 28 Nahant Road Nahant, MA 1908 Full Service B&M $39,496
    Coastal Heritage Bank 30 Franklin Street Quincy, MA 2169 Full Service B&M $39,043
    Coastal Heritage Bank 400 Broadway Lynn, MA 1904 Full Service B&M $51,009
    Coastal Heritage Bank 50 Patriot Parkway Weymouth, MA 2190 Full Service B&M $64,955
    Coastal Heritage Bank 560 Plain Street Maarshfield, MA 2050 Full Service B&M $71,338
    Coastal Heritage Bank 6 Central Street East Bridgewater, MA 2333 Full Service B&M $18,403
    Coastal Heritage Bank 72 Front Street Scituate, MA 2066 Full Service B&M $113,489
    Coastal Heritage Bank 744 Broad Street East Weymouth, MA 2189 Limited, Drive-thru $2,391
    Coastal Heritage Bank 744 Broad Street East Weymouth, MA 2189 Full Service B&M $131,879
    Coastal Heritage Bank 83 Summer Street Kingston, MA 2364 Full Service B&M $53,583
    Coastal Heritage Bank One Derby Street Hingham, MA 2043 Full Service B&M $26,419

    For 2021, Coastal Heritage Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $30,320
    Net interest income $28,257
    Total noninterest income $3,505
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $465
    Trading account gains and fees $0
    Additional Noninterest Income $3,040
    Pre-tax net operating income $7,115
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,300
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,300
    Minority interest net income $0
    Net income $5,300
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,300

    Coastal Heritage Bank's gross interest income from loans was $30,320,000.
    Coastal Heritage Bank's net interest income from loans was $28,257,000.
    Coastal Heritage Bank's fee based income from loans was $465,000.
    Coastal Heritage Bank's net income from loans was $5,300,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,063
    Provision for credit losses $452
    Total noninterest expense $24,195
    Salaries and employee benefits $13,880
    Premises and equipment expense $2,913
    Additional noninterest expense $7,402
    Applicable income taxes $1,815
    Net charge-offs $232
    Cash dividends $0

    Coastal Heritage Bank's interest expense for loans was $2,063,000.
    Coastal Heritage Bank's payroll and benefits expense were $13,880,000.
    Coastal Heritage Bank's property, plant and equipment expenses $2,913,000.

    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 $752,920
    Deposits held in domestic offices $752,920
    Deposits by Individuals, partnerships, and corporations $746,589
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $6,332
    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 $279,755
    Demand deposits $111,847
    Nontransaction accounts $473,166
    Money market deposit accounts (MMDAs) $196,360
    Other savings deposits (excluding MMDAs) $151,897
    Total time deposits $124,908
    Total time and savings deposits $641,074
    Noninterest-bearing deposits $202,559
    Interest-bearing deposits $550,361
    Retail deposits $723,710
    IRAs and Keogh plan accounts $22,637
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $876,844
    Cash & Balances due from depository institutions $67,825
    Interest-bearing balances $59,741
    Total securities $132,846
    Federal funds sold & reverse repurchase $0
    Net loans and leases $635,663
    Loan and leases loss allowance $6,079
    Trading account assets $0
    Bank premises and fixed assets $10,530
    Other real estate owned $0
    Goodwill and other intangibles $5,298
    All other assets $24,682

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $876,844
    Total Liabilities $779,472
    Total deposits $752,920
    Interest-bearing deposits $550,361
    Deposits held in domestic offices $752,920
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $504
    Trading liabilities $0
    Other borrowed funds $20,095
    Subordinated debt $0
    All other liabilities $5,953

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $635,663
    Loan and leases loss allowance $6,079
    Total loans and leases (domestic) $641,742
    All real estate loans $590,250
    Real estate loans in domestic offices $590,250
    Construction and development loans $70,990
    Residential 1-4 family construction $59,624
    Other construction, all land development and other land $11,366
    Loans secured by nonfarm nonresidential properties $120,057
    Nonfarm nonresidential secured by owner-occupied properties $72,724
    Commercial real estate & other non-farm, non-residential $47,333
    Multifamily residential real estate $27,000
    1-4 family residential loans $372,203
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $39,174
    To non-U.S. addressees $0
    Loans to individuals $12,300
    Credit card loans $0
    Related Plans $40
    Consumer Auto Loans $624
    Other loans to individuals $11,636
    All other loans & leases $18
    Loans to foreign governments and official institutions $0
    Other loans $18
    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 $1,643
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Coastal Heritage Bank had $635,663,000 of loans outstanding in 2021. $590,250,000 of loans were in real estate loans. $70,990,000 of loans were in development loans. $27,000,000 of loans were in multifamily mortgage loans. $372,203,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $624,000 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 258 $69,078 $267,744
    Nonfarm, nonresidential loans - <$100k 49 $1,680 $34,286
    Nonfarm, nonresidential loans - $100-250k 63 $8,597 $136,460
    Nonfarm, nonresidential loans - $250k-1MM 146 $58,801 $402,747
    Commercial & Industrial, US addressed loans - <$1MM 645 $22,745 $35,264
    Commercial & Industrial, US addressed loans - <$100k 542 $8,916 $16,450
    Commercial & Industrial, US addressed loans - $100-250k 60 $4,999 $83,317
    Commercial & Industrial, US addressed loans - $250k-1MM 43 $8,830 $205,349