Greenfield Co-operative Bank Mortgage Rates, Fees & Info
Greenfield, MALEI: 549300V6HTJCSW4YN309
Tax ID: 04-1400390
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Bank Data
Review & 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 by origination volume include: Springfield, Barnstable Town, and Worcester 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.
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.
Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.
Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.
Originations
406Origination Dollar Volume (All Markets)
$94,570,000Employee count
105Top 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) | 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% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 406 | $94,570,000 | $232,931 | $0 | 0.00% |
For 2021, Greenfield Co-operative Bank's most frequently originated type of loan was Conventional, with 406 originations.
Loan Reason
For 2021, Greenfield Co-operative Bank's most frequently cited loan purpose was Cash Out Refi, with 174 originations. The 2nd most popular reason was 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 2021, Greenfield Co-operative Bank's most frequently cited loan duration was Other, with 406 originations.
Loan Sizing
2021 saw Greenfield Co-operative Bank place emphasis on $200k-400k loans with 163 originations, totaling $43,615,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications93.29%
Greenfield Co-operative Bank has an average approval rate.
Pick Rate
Approvals leading to origination85.71%
Greenfield Co-operative Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 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
| Item | Value (in 000's) |
|---|---|
| Total interest income | $19,965 |
| Net interest income | $17,696 |
| Total noninterest income | $2,136 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,282 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $854 |
| Pre-tax net operating income | $4,223 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,317 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,317 |
| Minority interest net income | $0 |
| Net income | $3,317 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,317 |
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.
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 | $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 |