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
313Origination Dollar Volume (All Markets)
$69,025,000Employee count
93Top 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) | 310 | $68,430,000 | $220,742 | $0 | 0.00% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 2 | $470,000 | $235,000 | $0 | 0.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 313 | $69,025,000 | $220,527 | $0 | 0.00% |
For 2019, Greenfield Co-operative Bank's most frequently originated type of loan was Conventional, with 313 originations.
Loan Reason
For 2019, Greenfield Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 132 originations. The 2nd most popular reason was Cash Out Refi, with 103 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 313 | $69,025,000 | $220,527 | $0 | 0.00% |
For 2019, Greenfield Co-operative Bank's most frequently cited loan duration was Other, with 313 originations.
Loan Sizing
2019 saw Greenfield Co-operative Bank place emphasis on $100k-200k loans with 126 originations, totaling $19,270,000 in origination value.
Applicant Income
Greenfield Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 66 originations. The second most popular income band? $50k-75k, with 46 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 313 | $69,025,000 | $220,527 | $0 | 0.00% |
Greenfield Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 313 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.33%
Greenfield Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination83.39%
Greenfield Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 313 | $69,025,000 | $220,527 |
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 | $45,426 |
| Greenfield Co-operative Bank | 176 Avenue A Turners Falls, MA 1376 | Full Service B&M | $18,749 |
| Greenfield Co-operative Bank | 18 Amherst Road Sunderland, MA 1375 | Full Service B&M | $57,150 |
| Greenfield Co-operative Bank | 253 Triangle Street Amherst, MA 1002 | Full Service B&M | $58,092 |
| Greenfield Co-operative Bank | 277 Federal Street Greenfield, MA 1301 | Full Service B&M | $94,601 |
| Greenfield Co-operative Bank | 33-37 Bridge Road Shelburne Falls, MA 1370 | Full Service B&M | $31,070 |
| Greenfield Co-operative Bank | 390 College Street Amherst, MA 1002 | Full Service B&M | $11,057 |
| Greenfield Co-operative Bank | 6 Main Street Florence, MA 1062 | Full Service B&M | $32,719 |
| Greenfield Co-operative Bank | 63 Federal Street Greenfield, MA 1301 | Full Service B&M | $132,472 |
| Greenfield Co-operative Bank | 67 King Street Northampton, MA 1060 | Full Service B&M | $64,440 |
For 2019, Greenfield Co-operative Bank had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $22,485 |
| Net interest income | $18,077 |
| Total noninterest income | $2,239 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,486 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $753 |
| Pre-tax net operating income | $5,674 |
| Securities gains (or losses, -) | $172 |
| Income before extraordinary items | $4,574 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,574 |
| Minority interest net income | $0 |
| Net income | $4,574 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,438 |
Greenfield Co-operative Bank's gross interest income from loans was $22,485,000.
Greenfield Co-operative Bank's net interest income from loans was $18,077,000.
Greenfield Co-operative Bank's fee based income from loans was $1,486,000.
Greenfield Co-operative Bank's net income from loans was $4,574,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $4,408 |
| Provision for credit losses | $410 |
| Total noninterest expense | $14,232 |
| Salaries and employee benefits | $8,296 |
| Premises and equipment expense | $1,282 |
| Additional noninterest expense | $4,654 |
| Applicable income taxes | $1,272 |
| Net charge-offs | $249 |
| Cash dividends | $40 |
Greenfield Co-operative Bank's interest expense for loans was $4,408,000.
Greenfield Co-operative Bank's payroll and benefits expense were $8,296,000.
Greenfield Co-operative Bank's property, plant and equipment expenses $1,282,000.
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 | 2.0% |
| 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 | $563,451 |
| Deposits held in domestic offices | $563,451 |
| Deposits by Individuals, partnerships, and corporations | $540,065 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $23,386 |
| 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 | $172,593 |
| Demand deposits | $75,209 |
| Nontransaction accounts | $390,858 |
| Money market deposit accounts (MMDAs) | $138,344 |
| Other savings deposits (excluding MMDAs) | $50,162 |
| Total time deposits | $202,353 |
| Total time and savings deposits | $488,242 |
| Noninterest-bearing deposits | $75,209 |
| Interest-bearing deposits | $488,242 |
| Retail deposits | $515,257 |
| IRAs and Keogh plan accounts | $31,423 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $663,548 |
| Cash & Balances due from depository institutions | $59,913 |
| Interest-bearing balances | $53,049 |
| Total securities | $140,292 |
| Federal funds sold & reverse repurchase | $1,863 |
| Net loans and leases | $427,396 |
| Loan and leases loss allowance | $3,968 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $10,281 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $639 |
| All other assets | $23,164 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $663,548 |
| Total Liabilities | $585,139 |
| Total deposits | $563,451 |
| Interest-bearing deposits | $488,242 |
| Deposits held in domestic offices | $563,451 |
| % insured (estimated) | $83 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $19,659 |
| Subordinated debt | $0 |
| All other liabilities | $2,029 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $427,396 |
| Loan and leases loss allowance | $3,968 |
| Total loans and leases (domestic) | $431,364 |
| All real estate loans | $374,633 |
| Real estate loans in domestic offices | $374,633 |
| Construction and development loans | $8,459 |
| Residential 1-4 family construction | $4,521 |
| Other construction, all land development and other land | $3,938 |
| Loans secured by nonfarm nonresidential properties | $44,867 |
| Nonfarm nonresidential secured by owner-occupied properties | $33,492 |
| Commercial real estate & other non-farm, non-residential | $11,375 |
| Multifamily residential real estate | $33,321 |
| 1-4 family residential loans | $286,618 |
| Farmland loans | $1,368 |
| Loans held in foreign offices | $0 |
| Farm loans | $3,290 |
| Commercial and industrial loans | $32,961 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $3,096 |
| Credit card loans | $0 |
| Related Plans | $83 |
| Consumer Auto Loans | $183 |
| Other loans to individuals | $2,830 |
| All other loans & leases | $17,384 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $61 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $420 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $358 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Greenfield Co-operative Bank had $427,396,000 of loans outstanding in 2019. $374,633,000 of loans were in real estate loans. $8,459,000 of loans were in development loans. $33,321,000 of loans were in multifamily mortgage loans. $286,618,000 of loans were in 1-4 family mortgage loans. $3,290,000 of loans were in farm loans. $0 of loans were in credit card loans. $183,000 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 | $31,518 | $187,607 |
| Nonfarm, nonresidential loans - <$100k | 34 | $1,768 | $52,000 |
| Nonfarm, nonresidential loans - $100-250k | 69 | $9,101 | $131,899 |
| Nonfarm, nonresidential loans - $250k-1MM | 65 | $20,649 | $317,677 |
| Commercial & Industrial, US addressed loans - <$1MM | 360 | $28,510 | $79,194 |
| Commercial & Industrial, US addressed loans - <$100k | 227 | $5,742 | $25,295 |
| Commercial & Industrial, US addressed loans - $100-250k | 91 | $10,673 | $117,286 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 42 | $12,095 | $287,976 |
| Farmland loans - <$1MM | 3 | $346 | $115,333 |
| Farmland loans - $100-250k | 3 | $346 | $115,333 |
| Agriculture operations loans - <$1MM | 12 | $1,297 | $108,083 |
| Agriculture operations loans - <$100k | 7 | $161 | $23,000 |
| Agriculture operations loans - $100-250k | 3 | $511 | $170,333 |
| Agriculture operations loans - $250k-1MM | 2 | $625 | $312,500 |