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, Cash Out Refi, and Refi loans. Greenfield Co-operative Bank has a high proportion of conventional loans. Their top two markets are Springfield and Pittsfield .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
358Origination Dollar Volume (All Markets)
$80,980,000Employee count
101Top 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) | 357 | $80,785,000 | $226,289 | $0 | 0.00% |
| PITTSFIELD, MA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 358 | $80,980,000 | $226,201 | $0 | 0.00% |
For 2020, Greenfield Co-operative Bank's most frequently originated type of loan was Conventional, with 358 originations.
Loan Reason
For 2020, Greenfield Co-operative Bank's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Cash Out Refi, with 120 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 358 | $80,980,000 | $226,201 | $0 | 0.00% |
For 2020, Greenfield Co-operative Bank's most frequently cited loan duration was Other, with 358 originations.
Loan Sizing
2020 saw Greenfield Co-operative Bank place emphasis on $100k-200k loans with 151 originations, totaling $23,405,000 in origination value.
Applicant Income
Greenfield Co-operative Bank lent most frequently to those with incomes in the $100k-150k range, with 79 originations. The second most popular income band? $50k-75k, with 64 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 358 | $80,980,000 | $226,201 | $0 | 0.00% |
Greenfield Co-operative Bank lent most frequently to those with DTI ratios of Exempt%, with 358 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications91.27%
Greenfield Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination76.54%
Greenfield Co-operative Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 358 | $80,980,000 | $226,201 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 28 | $17,930,000 | $640,357 |
| Single Family (1-4 Units):Site-Built | 330 | $63,050,000 | $191,061 |
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 | $49,285 |
| Greenfield Co-Operative Bank | 176 Avenue A Turners Falls, MA 1376 | Full Service B&M | $21,325 |
| Greenfield Co-Operative Bank | 18 Amherst Road Sunderland, MA 1375 | Full Service B&M | $58,029 |
| Greenfield Co-Operative Bank | 277 Federal Street Greenfield, MA 1301 | Full Service B&M | $110,109 |
| Greenfield Co-Operative Bank | 33-37 Bridge Road Shelburne Falls, MA 1370 | Full Service B&M | $50,483 |
| Greenfield Co-Operative Bank | 390 College Street Amherst, MA 1002 | Full Service B&M | $79,867 |
| Greenfield Co-Operative Bank | 487 Newton Street South Hadley, MA 1075 | Full Service B&M | $1,658 |
| Greenfield Co-Operative Bank | 6 Main Street Florence, MA 1062 | Full Service B&M | $36,835 |
| Greenfield Co-Operative Bank | 63 Federal Street Greenfield, MA 1301 | Full Service B&M | $152,700 |
| Greenfield Co-Operative Bank | 67 King Street Northampton, MA 1060 | Full Service B&M | $76,560 |
For 2020, Greenfield Co-operative Bank had 10 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $20,541 |
| Net interest income | $16,322 |
| Total noninterest income | $3,226 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,372 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,854 |
| Pre-tax net operating income | $3,510 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,147 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,147 |
| Minority interest net income | $0 |
| Net income | $3,147 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,147 |
Greenfield Co-operative Bank's gross interest income from loans was $20,541,000.
Greenfield Co-operative Bank's net interest income from loans was $16,322,000.
Greenfield Co-operative Bank's fee based income from loans was $1,372,000.
Greenfield Co-operative Bank's net income from loans was $3,147,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $4,219 |
| Provision for credit losses | $2,094 |
| Total noninterest expense | $13,944 |
| Salaries and employee benefits | $7,849 |
| Premises and equipment expense | $1,214 |
| Additional noninterest expense | $4,881 |
| Applicable income taxes | $363 |
| Net charge-offs | $1,648 |
| Cash dividends | $10 |
Greenfield Co-operative Bank's interest expense for loans was $4,219,000.
Greenfield Co-operative Bank's payroll and benefits expense were $7,849,000.
Greenfield Co-operative Bank's property, plant and equipment expenses $1,214,000.
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 | $638,620 |
| Deposits held in domestic offices | $638,620 |
| Deposits by Individuals, partnerships, and corporations | $614,461 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $24,159 |
| 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 | $221,942 |
| Demand deposits | $103,168 |
| Nontransaction accounts | $416,678 |
| Money market deposit accounts (MMDAs) | $166,229 |
| Other savings deposits (excluding MMDAs) | $62,111 |
| Total time deposits | $188,338 |
| Total time and savings deposits | $535,452 |
| Noninterest-bearing deposits | $103,168 |
| Interest-bearing deposits | $535,452 |
| Retail deposits | $592,681 |
| IRAs and Keogh plan accounts | $31,862 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $740,007 |
| Cash & Balances due from depository institutions | $115,437 |
| Interest-bearing balances | $110,418 |
| Total securities | $131,488 |
| Federal funds sold & reverse repurchase | $4,269 |
| Net loans and leases | $452,081 |
| Loan and leases loss allowance | $4,414 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $10,170 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $487 |
| All other assets | $26,075 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $740,007 |
| Total Liabilities | $656,814 |
| Total deposits | $638,620 |
| Interest-bearing deposits | $535,452 |
| Deposits held in domestic offices | $638,620 |
| % insured (estimated) | $82 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $16,396 |
| Subordinated debt | $0 |
| All other liabilities | $1,798 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $452,081 |
| Loan and leases loss allowance | $4,414 |
| Total loans and leases (domestic) | $456,495 |
| All real estate loans | $383,037 |
| Real estate loans in domestic offices | $383,037 |
| Construction and development loans | $5,960 |
| Residential 1-4 family construction | $2,002 |
| Other construction, all land development and other land | $3,958 |
| Loans secured by nonfarm nonresidential properties | $47,200 |
| Nonfarm nonresidential secured by owner-occupied properties | $35,848 |
| Commercial real estate & other non-farm, non-residential | $11,352 |
| Multifamily residential real estate | $41,568 |
| 1-4 family residential loans | $287,022 |
| Farmland loans | $1,287 |
| Loans held in foreign offices | $0 |
| Farm loans | $3,226 |
| Commercial and industrial loans | $40,914 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,969 |
| Credit card loans | $0 |
| Related Plans | $9 |
| Consumer Auto Loans | $164 |
| Other loans to individuals | $2,796 |
| All other loans & leases | $26,349 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $104 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $263 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $347 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Greenfield Co-operative Bank had $452,081,000 of loans outstanding in 2020. $383,037,000 of loans were in real estate loans. $5,960,000 of loans were in development loans. $41,568,000 of loans were in multifamily mortgage loans. $287,022,000 of loans were in 1-4 family mortgage loans. $3,226,000 of loans were in farm loans. $0 of loans were in credit card loans. $164,000 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 | $31,357 | $186,649 |
| Nonfarm, nonresidential loans - <$100k | 33 | $1,630 | $49,394 |
| Nonfarm, nonresidential loans - $100-250k | 68 | $9,304 | $136,824 |
| Nonfarm, nonresidential loans - $250k-1MM | 67 | $20,423 | $304,821 |
| Commercial & Industrial, US addressed loans - <$1MM | 526 | $37,596 | $71,475 |
| Commercial & Industrial, US addressed loans - <$100k | 361 | $8,966 | $24,837 |
| Commercial & Industrial, US addressed loans - $100-250k | 109 | $12,792 | $117,358 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 56 | $15,838 | $282,821 |
| Farmland loans - <$1MM | 3 | $329 | $109,667 |
| Farmland loans - $100-250k | 3 | $329 | $109,667 |
| Agriculture operations loans - <$1MM | 15 | $1,276 | $85,067 |
| Agriculture operations loans - <$100k | 10 | $187 | $18,700 |
| Agriculture operations loans - $100-250k | 3 | $485 | $161,667 |
| Agriculture operations loans - $250k-1MM | 2 | $604 | $302,000 |