Greenfield Co-operative Bank Mortgage Rates, Fees & Info
Greenfield, MALEI: 549300V6HTJCSW4YN309
Tax ID: 04-1400390
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Mortgage Data
Bank Data
Review & Overview
Greenfield Co-operative Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Greenfield Co-operative Bank has a high proportion of conventional loans. Their top markets by origination volume include: Springfield, Worcester, and Pittsfield among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)Greenfield Co-operative 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.
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Originations
319Origination Dollar Volume (All Markets)
$63,105,000Employee count
96Top 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 |
|---|---|---|---|---|---|
| SPRINGFIELD, MA (FHA|USDA|VA) | 316 | $62,650,000 | $198,259 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $0 | 0.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 319 | $63,105,000 | $197,821 | $0 | 0.00% |
For 2018, Greenfield Co-operative Bank's most frequently originated type of loan was Conventional, with 319 originations.
Loan Reason
For 2018, Greenfield Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 138 originations. The 2nd most popular reason was Cash Out Refi, with 115 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 319 | $63,105,000 | $197,821 | $0 | 0.00% |
For 2018, Greenfield Co-operative Bank's most frequently cited loan duration was Other, with 319 originations.
Loan Sizing
2018 saw Greenfield Co-operative Bank place emphasis on $100k-200k loans with 131 originations, totaling $19,615,000 in origination value.
Applicant Income
Greenfield Co-operative Bank lent most frequently to those with incomes in the $50k-75k range, with 67 originations. The second most popular income band? $50k or less, with 45 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 319 | $63,105,000 | $197,821 | $0 | 0.00% |
Greenfield Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 319 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.75%
Greenfield Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.97%
Greenfield Co-operative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 319 | $63,105,000 | $197,821 |
Occupancy Type Mix
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 | $42,949 |
| Greenfield Co-operative Bank | 176 Avenue A Turners Falls, MA 1376 | Full Service B&M | $15,255 |
| Greenfield Co-operative Bank | 18 Amherst Road Sunderland, MA 1375 | Full Service B&M | $56,123 |
| Greenfield Co-operative Bank | 253 Triangle Street Amherst, MA 1002 | Full Service B&M | $60,051 |
| Greenfield Co-operative Bank | 277 Federal Street Greenfield, MA 1301 | Full Service B&M | $88,170 |
| Greenfield Co-operative Bank | 33-37 Bridge Road Shelburne Falls, MA 1370 | Full Service B&M | $27,025 |
| Greenfield Co-operative Bank | 390 College Street Amherst, MA 1002 | Full Service B&M | $11,142 |
| Greenfield Co-operative Bank | 6 Main Street Florence, MA 1062 | Full Service B&M | $26,736 |
| Greenfield Co-operative Bank | 63 Federal Street Greenfield, MA 1301 | Full Service B&M | $136,042 |
| Greenfield Co-operative Bank | 67 King Street Northampton, MA 1060 | Full Service B&M | $64,867 |
For 2018, Greenfield Co-operative Bank had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $20,389 |
| Net interest income | $17,401 |
| Total noninterest income | $2,302 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,397 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $905 |
| Pre-tax net operating income | $6,118 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,758 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,758 |
| Minority interest net income | $0 |
| Net income | $4,758 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,758 |
Greenfield Co-operative Bank's gross interest income from loans was $20,389,000.
Greenfield Co-operative Bank's net interest income from loans was $17,401,000.
Greenfield Co-operative Bank's fee based income from loans was $1,397,000.
Greenfield Co-operative Bank's net income from loans was $4,758,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,988 |
| Provision for credit losses | $556 |
| Total noninterest expense | $13,029 |
| Salaries and employee benefits | $7,248 |
| Premises and equipment expense | $1,349 |
| Additional noninterest expense | $4,432 |
| Applicable income taxes | $1,360 |
| Net charge-offs | $15 |
| Cash dividends | $0 |
Greenfield Co-operative Bank's interest expense for loans was $2,988,000.
Greenfield Co-operative Bank's payroll and benefits expense were $7,248,000.
Greenfield Co-operative Bank's property, plant and equipment expenses $1,349,000.
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 | 1.0% |
| 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 | $515,401 |
| Deposits held in domestic offices | $515,401 |
| Deposits by Individuals, partnerships, and corporations | $494,684 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $20,717 |
| 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 | $158,334 |
| Demand deposits | $64,323 |
| Nontransaction accounts | $357,067 |
| Money market deposit accounts (MMDAs) | $146,601 |
| Other savings deposits (excluding MMDAs) | $48,509 |
| Total time deposits | $161,957 |
| Total time and savings deposits | $451,078 |
| Noninterest-bearing deposits | $64,323 |
| Interest-bearing deposits | $451,078 |
| Retail deposits | $488,638 |
| IRAs and Keogh plan accounts | $28,442 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $610,808 |
| Cash & Balances due from depository institutions | $13,952 |
| Interest-bearing balances | $7,298 |
| Total securities | $137,683 |
| Federal funds sold & reverse repurchase | $1,427 |
| Net loans and leases | $423,969 |
| Loan and leases loss allowance | $3,807 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $9,325 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $787 |
| All other assets | $23,665 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $610,808 |
| Total Liabilities | $539,106 |
| Total deposits | $515,401 |
| Interest-bearing deposits | $451,078 |
| Deposits held in domestic offices | $515,401 |
| % insured (estimated) | $85 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $21,787 |
| Subordinated debt | $0 |
| All other liabilities | $1,918 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $423,969 |
| Loan and leases loss allowance | $3,807 |
| Total loans and leases (domestic) | $427,776 |
| All real estate loans | $356,845 |
| Real estate loans in domestic offices | $356,845 |
| Construction and development loans | $8,977 |
| Residential 1-4 family construction | $4,667 |
| Other construction, all land development and other land | $4,310 |
| Loans secured by nonfarm nonresidential properties | $49,519 |
| Nonfarm nonresidential secured by owner-occupied properties | $37,473 |
| Commercial real estate & other non-farm, non-residential | $12,046 |
| Multifamily residential real estate | $20,915 |
| 1-4 family residential loans | $275,888 |
| Farmland loans | $1,546 |
| Loans held in foreign offices | $0 |
| Farm loans | $2,307 |
| Commercial and industrial loans | $33,743 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,150 |
| Credit card loans | $0 |
| Related Plans | $317 |
| Consumer Auto Loans | $121 |
| Other loans to individuals | $2,712 |
| All other loans & leases | $31,731 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $76 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $470 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $973 |
| Non 1-4 family restructured loans & leases | $608 |
| Total loans and leases (foreign) | $0 |
Greenfield Co-operative Bank had $423,969,000 of loans outstanding in 2018. $356,845,000 of loans were in real estate loans. $8,977,000 of loans were in development loans. $20,915,000 of loans were in multifamily mortgage loans. $275,888,000 of loans were in 1-4 family mortgage loans. $2,307,000 of loans were in farm loans. $0 of loans were in credit card loans. $121,000 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 | 181 | $35,897 | $198,326 |
| Nonfarm, nonresidential loans - <$100k | 39 | $2,137 | $54,795 |
| Nonfarm, nonresidential loans - $100-250k | 70 | $9,285 | $132,643 |
| Nonfarm, nonresidential loans - $250k-1MM | 72 | $24,475 | $339,931 |
| Commercial & Industrial, US addressed loans - <$1MM | 359 | $28,873 | $80,426 |
| Commercial & Industrial, US addressed loans - <$100k | 228 | $5,705 | $25,022 |
| Commercial & Industrial, US addressed loans - $100-250k | 82 | $9,663 | $117,841 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 49 | $13,505 | $275,612 |
| Farmland loans - <$1MM | 5 | $474 | $94,800 |
| Farmland loans - <$100k | 2 | $111 | $55,500 |
| Farmland loans - $100-250k | 3 | $363 | $121,000 |
| Agriculture operations loans - <$1MM | 17 | $1,703 | $100,176 |
| Agriculture operations loans - <$100k | 8 | $144 | $18,000 |
| Agriculture operations loans - $100-250k | 5 | $713 | $142,600 |
| Agriculture operations loans - $250k-1MM | 4 | $846 | $211,500 |