Greenfield Co-operative Bank Mortgage Rates, Fees & Info
Greenfield, MA
LEI: 549300V6HTJCSW4YN309
Tax ID: 04-1400390
Jump to:
Mortgage Data
Bank Data
Overview
Greenfield Co-operative Bank is a
smaller
bank
specializing in
Cash Out Refi and Home Purchase loans.
Greenfield Co-operative Bank has a high proportion of conventional loans.
Their top markets include Springfield, Barnstable Town, and Worcester among others. Greenfield Co-operative Bank has
an above average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Originations
406
Origination Dollar Volume (All Markets)
$94,570,000
Employee count
105
Top Markets
| Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
|
SPRINGFIELD, MA (FHA|USDA|VA)
|
404
|
$93,930,000 |
$232,500 |
$0 |
0.00% |
|
BARNSTABLE TOWN, MA (FHA|USDA|VA)
|
1
|
$505,000 |
$505,000 |
$0 |
0.00% |
|
WORCESTER, MA-CT (FHA|USDA|VA)
|
1
|
$135,000 |
$135,000 |
$0 |
0.00% |
Greenfield Co-operative Bank's top markets include Springfield, Barnstable Town, and Worcester among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
406 |
$94,570,000 |
$232,931 |
$0 |
0.00% |
For the 2021 period, Greenfield Co-operative Bank's most frequently
originated loan type
of loans were Conventional, with 406 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Cash Out Refi |
174 |
$41,370,000 |
$237,759 |
$0 |
0.00% |
| Home Purchase |
118 |
$34,130,000 |
$289,237 |
$0 |
0.00% |
| Refi |
87 |
$17,345,000 |
$199,368 |
$0 |
0.00% |
| Home Improvement |
18 |
$1,340,000 |
$74,444 |
$0 |
0.00% |
| Other |
9 |
$385,000 |
$42,778 |
$0 |
0.00% |
For the 2021, Greenfield Co-operative Bank's most frequently cited loan
purpose
of loans were Cash Out Refi, with 174
originations.
The 2nd most popular reason of loans were Home Purchase,
with 118 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Other |
406 |
$94,570,000 |
$232,931 |
$0 |
0.00% |
For the 2021, Greenfield Co-operative Bank's most frequently cited loan
length
of loans were Other, with 406 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $200k-400k |
163 |
$43,615,000 |
$267,577 |
$0 |
0.00% |
| $100k-200k |
150 |
$23,100,000 |
$154,000 |
$0 |
0.00% |
| $100,000 or less |
54 |
$2,850,000 |
$52,778 |
$0 |
0.00% |
| $400k-600k |
28 |
$13,370,000 |
$477,500 |
$0 |
0.00% |
| $600k-1MM |
8 |
$5,710,000 |
$713,750 |
$0 |
0.00% |
| $1MM+ |
3 |
$5,925,000 |
$1,975,000 |
$0 |
0.00% |
2021 saw Greenfield Co-operative Bank place emphasis on
$200k-400k loans
with 163 originations, totaling
$43,615,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $50k-75k |
99 |
$16,735,000 |
$169,040 |
$0 |
0.00% |
| $100k-150k |
80 |
$17,650,000 |
$220,625 |
$0 |
0.00% |
| $75k-100k |
74 |
$16,200,000 |
$218,919 |
$0 |
0.00% |
| $50k or less |
42 |
$5,120,000 |
$121,905 |
$0 |
0.00% |
| $150k-250k |
33 |
$9,035,000 |
$273,788 |
$0 |
0.00% |
| $250k+ |
9 |
$2,565,000 |
$285,000 |
$0 |
0.00% |
Greenfield Co-operative Bank lent most frequently to those with incomes in the
$50k-75k range, with
99 originations.
The second most popular income band? $100k-150k,
with 80 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Exempt% |
406 |
$94,570,000 |
$232,931 |
$0 |
0.00% |
Greenfield Co-operative Bank lent most frequently to those with DTI ratios
of Exempt%, with
406 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| White |
304 |
$59,520,000 |
$195,789 |
$0 |
0.00% |
| Not applicable |
63 |
$26,055,000 |
$413,571 |
$0 |
0.00% |
| Not provided |
30 |
$6,930,000 |
$231,000 |
$0 |
0.00% |
| Black |
4 |
$800,000 |
$200,000 |
$0 |
0.00% |
| American Indian |
2 |
$450,000 |
$225,000 |
$0 |
0.00% |
| Asian |
2 |
$410,000 |
$205,000 |
$0 |
0.00% |
| Japanese |
1 |
$405,000 |
$405,000 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
92.18%
Greenfield Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination
83.81%
Greenfield Co-operative Bank has a below average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| Exempt |
406 |
$94,570,000 |
$232,931 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
406 |
$94,570,000 |
$232,931 |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Greenfield Co-Operative Bank |
144 Main Street Northfield, MA 1360 |
Full Service B&M
|
$52,507 |
| Greenfield Co-Operative Bank |
176 Avenue A Turners Falls, MA 1376 |
Full Service B&M
|
$25,369 |
| Greenfield Co-Operative Bank |
18 Amherst Road Sunderland, MA 1375 |
Full Service B&M
|
$57,820 |
| Greenfield Co-Operative Bank |
277 Federal Street Greenfield, MA 1301 |
Full Service B&M
|
$129,725 |
| Greenfield Co-Operative Bank |
33-37 Bridge Road Shelburne Falls, MA 1370 |
Full Service B&M
|
$47,922 |
| Greenfield Co-Operative Bank |
390 College Street Amherst, MA 1002 |
Full Service B&M
|
$87,435 |
| Greenfield Co-Operative Bank |
487 Newton Street South Hadley, MA 1075 |
Full Service B&M
|
$4,833 |
| Greenfield Co-Operative Bank |
6 Main Street Florence, MA 1062 |
Full Service B&M
|
$45,279 |
| Greenfield Co-Operative Bank |
63 Federal St Greenfield, MA 1301 |
Full Service B&M
|
$166,837 |
| Greenfield Co-Operative Bank |
67 King Street Northampton, MA 1060 |
Full Service B&M
|
$84,980 |
For 2021, Greenfield Co-operative Bank had 10 branches.
Yearly Performance Overview
Bank Income
Greenfield Co-operative Bank's gross interest income from loans was $19,965,000.
Greenfield Co-operative Bank's net interest income from loans was $17,696,000.
Greenfield Co-operative Bank's fee based income from loans was $1,282,000.
Greenfield Co-operative Bank's net income from loans was $3,317,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$2,269 |
| Provision for credit losses |
$198 |
| Total noninterest expense |
$15,411 |
| Salaries and employee benefits |
$9,382 |
| Premises and equipment expense |
$1,225 |
| Additional noninterest expense |
$4,804 |
| Applicable income taxes |
$906 |
| Net charge-offs |
$-41 |
| Cash dividends |
$15 |
Greenfield Co-operative Bank's interest expense for loans was $2,269,000.
Greenfield Co-operative Bank's payroll and benefits expense were $9,382,000.
Greenfield Co-operative Bank's property, plant and equipment expenses $1,225,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$710,444 |
| Deposits held in domestic offices |
$710,444 |
| Deposits by Individuals, partnerships, and corporations |
$684,791 |
| Deposits by U.S. Government |
$0 |
| Deposits by States and political subdivisions in the U.S. |
$25,653 |
| 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 |
$257,696 |
| Demand deposits |
$125,627 |
| Nontransaction accounts |
$452,748 |
| Money market deposit accounts (MMDAs) |
$190,901 |
| Other savings deposits (excluding MMDAs) |
$81,182 |
| Total time deposits |
$180,666 |
| Total time and savings deposits |
$584,817 |
| Noninterest-bearing deposits |
$125,627 |
| Interest-bearing deposits |
$584,817 |
| Retail deposits |
$664,119 |
| IRAs and Keogh plan accounts |
$33,465 |
| Brokered deposits |
$0 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$807,563 |
| Cash & Balances due from depository institutions |
$164,654 |
| Interest-bearing balances |
$159,860 |
| Total securities |
$148,866 |
| Federal funds sold & reverse repurchase |
$320 |
| Net loans and leases |
$459,743 |
| Loan and leases loss allowance |
$4,654 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$9,480 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$440 |
| All other assets |
$24,060 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$807,563 |
| Total Liabilities |
$723,779 |
| Total deposits |
$710,444 |
| Interest-bearing deposits |
$584,817 |
| Deposits held in domestic offices |
$710,444 |
| % insured (estimated) |
$80 |
| Federal funds purchased and repurchase agreements |
$0 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$10,835 |
| Subordinated debt |
$0 |
| All other liabilities |
$2,500 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$459,743 |
| Loan and leases loss allowance |
$4,654 |
| Total loans and leases (domestic) |
$464,397 |
| All real estate loans |
$395,856 |
| Real estate loans in domestic offices |
$395,856 |
| Construction and development loans |
$4,986 |
| Residential 1-4 family construction |
$2,168 |
| Other construction, all land development and other land |
$2,818 |
| Loans secured by nonfarm nonresidential properties |
$49,048 |
| Nonfarm nonresidential secured by owner-occupied properties |
$35,473 |
| Commercial real estate & other non-farm, non-residential |
$13,575 |
| Multifamily residential real estate |
$46,731 |
| 1-4 family residential loans |
$293,880 |
| Farmland loans |
$1,211 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$3,145 |
| Commercial and industrial loans |
$27,689 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$3,103 |
| Credit card loans |
$0 |
| Related Plans |
$10 |
| Consumer Auto Loans |
$137 |
| Other loans to individuals |
$2,956 |
| All other loans & leases |
$34,604 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$47 |
| Loans to depository institutions and acceptances of other banks |
$0 |
| Loans not secured by real estate |
$80 |
| Loans secured by real estate to non-U.S. addressees |
$0 |
| Restructured Loans & leases |
$447 |
| Non 1-4 family restructured loans & leases |
$0 |
| Total loans and leases (foreign) |
$0 |
Greenfield Co-operative Bank had $459,743,000 of loans outstanding in 2021. $395,856,000 of loans were in real estate loans.
$4,986,000 of loans were in development loans. $46,731,000 of loans were in multifamily mortgage loans.
$293,880,000 of loans were in 1-4 family mortgage loans. $3,145,000 of loans were in farm loans. $0
of loans were in credit card loans. $137,000 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 |
168 |
$32,519 |
$193,565 |
| Nonfarm, nonresidential loans - <$100k |
35 |
$1,873 |
$53,514 |
| Nonfarm, nonresidential loans - $100-250k |
67 |
$9,100 |
$135,821 |
| Nonfarm, nonresidential loans - $250k-1MM |
66 |
$21,546 |
$326,455 |
| Commercial & Industrial, US addressed loans - <$1MM |
356 |
$23,370 |
$65,646 |
| Commercial & Industrial, US addressed loans - <$100k |
230 |
$5,195 |
$22,587 |
| Commercial & Industrial, US addressed loans - $100-250k |
83 |
$8,347 |
$100,566 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
43 |
$9,828 |
$228,558 |
| Farmland loans - <$1MM |
3 |
$308 |
$102,667 |
| Farmland loans - $100-250k |
3 |
$308 |
$102,667 |
| Agriculture operations loans - <$1MM |
11 |
$1,246 |
$113,273 |
| Agriculture operations loans - <$100k |
7 |
$118 |
$16,857 |
| Agriculture operations loans - $100-250k |
1 |
$185 |
$185,000 |
| Agriculture operations loans - $250k-1MM |
3 |
$943 |
$314,333 |
