North Brookfield Savings Bank Mortgage Rates, Fees & Info

North Brookfield, MA

LEI: 549300WN3VU197CXJH44

Tax ID: 04-1677290

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    North Brookfield Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. North Brookfield Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Springfield, Boston, and Barnstable Town among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    North Brookfield Savings 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 5.66% 5/4/24
    30 Year Conventional Refi 6.00% 5/4/24
    30 Year Cash-out Refi 6.03% 5/4/24
    15 Year Conventional Refi 5.79% 5/4/24
    15 Year Cash-out Refi 5.79% 5/4/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    North Brookfield Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from North Brookfield Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    190

    Origination Dollar Volume (All Markets)

    $33,140,000

    Employee count

    67

    Top 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
    WORCESTER, MA-CT (FHA|USDA|VA) 144 $24,010,000 $166,736 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 41 $7,295,000 $177,927 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 4 $1,370,000 $342,500 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $465,000 $465,000 $0 0.00%
    North Brookfield Savings Bank's top markets include Worcester, Springfield, Boston, and Barnstable Town among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 190 $33,140,000 $174,421 $0 0.00%

    For 2019, North Brookfield Savings Bank's most frequently originated type of loan was Conventional, with 190 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 73 $16,755,000 $229,521 $0 0.00%
    Cash Out Refi 64 $11,070,000 $172,969 $0 0.00%
    Refi 21 $3,765,000 $179,286 $0 0.00%
    Home Improvement 16 $670,000 $41,875 $0 0.00%
    Other 16 $880,000 $55,000 $0 0.00%

    For 2019, North Brookfield Savings Bank's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Cash Out Refi, with 64 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 190 $33,140,000 $174,421 $0 0.00%

    For 2019, North Brookfield Savings Bank's most frequently cited loan duration was Other, with 190 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 66 $10,490,000 $158,939 $0 0.00%
    $200k-400k 66 $17,470,000 $264,697 $0 0.00%
    $100,000 or less 53 $2,685,000 $50,660 $0 0.00%
    $400k-600k 4 $1,850,000 $462,500 $0 0.00%
    $600k-1MM 1 $645,000 $645,000 $0 0.00%

    2019 saw North Brookfield Savings Bank place emphasis on $100k-200k loans with 66 originations, totaling $10,490,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 47 $8,545,000 $181,809 $0 0.00%
    $100k-150k 44 $8,040,000 $182,727 $0 0.00%
    $50k-75k 32 $4,720,000 $147,500 $0 0.00%
    $150k-250k 24 $5,160,000 $215,000 $0 0.00%
    $50k or less 22 $1,920,000 $87,273 $0 0.00%
    $250k+ 5 $1,955,000 $391,000 $0 0.00%

    North Brookfield Savings Bank lent most frequently to those with incomes in the $75k-100k range, with 47 originations. The second most popular income band? $100k-150k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 190 $33,140,000 $174,421 $0 0.00%

    North Brookfield Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 190 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 156 $27,480,000 $176,154 $0 0.00%
    Not provided 20 $3,080,000 $154,000 $0 0.00%
    Not applicable 14 $2,580,000 $184,286 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.48%

    North Brookfield Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.58%

    North Brookfield Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 190 $33,140,000 $174,421

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $1,645,000 $235,000
    Single Family (1-4 Units):Site-Built 183 $31,495,000 $172,104

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    North Brookfield Savings Bank 100 West Main Street East Brookfield, MA 1515 Full Service B&M $31,364
    North Brookfield Savings Bank 1051 Thorndike Street Palmer, MA 1069 Full Service B&M $20,450
    North Brookfield Savings Bank 128 West Main Street West Brookfield, MA 1585 Full Service B&M $49,500
    North Brookfield Savings Bank 2060 Main Street Three Rivers, MA 1080 Full Service B&M $17,453
    North Brookfield Savings Bank 4 Daniel Shays Highway Belchertown, MA 1007 Full Service B&M $19,105
    North Brookfield Savings Bank 40 Main Street Ware, MA 1082 Full Service B&M $20,081
    North Brookfield Savings Bank 9 Gilbert Street North Brookfield, MA 1535 Full Service B&M $94,701

    For 2019, North Brookfield Savings Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,731
    Net interest income $9,002
    Total noninterest income $1,974
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $763
    Trading account gains and fees $0
    Additional Noninterest Income $1,211
    Pre-tax net operating income $1,202
    Securities gains (or losses, -) $106
    Income before extraordinary items $1,106
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,106
    Minority interest net income $0
    Net income $1,106
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,015

    North Brookfield Savings Bank's gross interest income from loans was $11,731,000.
    North Brookfield Savings Bank's net interest income from loans was $9,002,000.
    North Brookfield Savings Bank's fee based income from loans was $763,000.
    North Brookfield Savings Bank's net income from loans was $1,106,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,729
    Provision for credit losses $103
    Total noninterest expense $9,671
    Salaries and employee benefits $5,454
    Premises and equipment expense $1,415
    Additional noninterest expense $2,802
    Applicable income taxes $202
    Net charge-offs $31
    Cash dividends $0

    North Brookfield Savings Bank's interest expense for loans was $2,729,000.
    North Brookfield Savings Bank's payroll and benefits expense were $5,454,000.
    North Brookfield Savings Bank's property, plant and equipment expenses $1,415,000.

    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 0.0%
    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 $254,293
    Deposits held in domestic offices $254,293
    Deposits by Individuals, partnerships, and corporations $245,503
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $8,757
    Deposits by Commercial banks and other depository institutions in U.S. $34
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $65,248
    Demand deposits $38,411
    Nontransaction accounts $189,046
    Money market deposit accounts (MMDAs) $24,631
    Other savings deposits (excluding MMDAs) $72,076
    Total time deposits $92,339
    Total time and savings deposits $215,883
    Noninterest-bearing deposits $38,411
    Interest-bearing deposits $215,882
    Retail deposits $244,066
    IRAs and Keogh plan accounts $22,347
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $323,543
    Cash & Balances due from depository institutions $14,473
    Interest-bearing balances $11,455
    Total securities $51,414
    Federal funds sold & reverse repurchase $351
    Net loans and leases $234,931
    Loan and leases loss allowance $1,378
    Trading account assets $0
    Bank premises and fixed assets $6,526
    Other real estate owned $0
    Goodwill and other intangibles $314
    All other assets $15,534

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $323,543
    Total Liabilities $285,591
    Total deposits $254,293
    Interest-bearing deposits $215,882
    Deposits held in domestic offices $254,293
    % insured (estimated) $94
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $26,200
    Subordinated debt $0
    All other liabilities $5,098

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $234,931
    Loan and leases loss allowance $1,378
    Total loans and leases (domestic) $236,309
    All real estate loans $227,343
    Real estate loans in domestic offices $227,343
    Construction and development loans $2,861
    Residential 1-4 family construction $2,504
    Other construction, all land development and other land $357
    Loans secured by nonfarm nonresidential properties $37,377
    Nonfarm nonresidential secured by owner-occupied properties $19,928
    Commercial real estate & other non-farm, non-residential $17,449
    Multifamily residential real estate $14,548
    1-4 family residential loans $170,950
    Farmland loans $1,607
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,063
    To non-U.S. addressees $0
    Loans to individuals $6,854
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $3,268
    Other loans to individuals $3,586
    All other loans & leases $49
    Loans to foreign governments and official institutions $0
    Other loans $49
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $514
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    North Brookfield Savings Bank had $234,931,000 of loans outstanding in 2019. $227,343,000 of loans were in real estate loans. $2,861,000 of loans were in development loans. $14,548,000 of loans were in multifamily mortgage loans. $170,950,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $3,268,000 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 81 $16,511 $203,840
    Nonfarm, nonresidential loans - <$100k 19 $699 $36,789
    Nonfarm, nonresidential loans - $100-250k 27 $3,138 $116,222
    Nonfarm, nonresidential loans - $250k-1MM 35 $12,674 $362,114
    Commercial & Industrial, US addressed loans - <$1MM 79 $2,063 $26,114
    Commercial & Industrial, US addressed loans - <$100k 68 $1,407 $20,691
    Commercial & Industrial, US addressed loans - $100-250k 11 $656 $59,636
    Farmland loans - <$1MM 4 $393 $98,250
    Farmland loans - <$100k 1 $13 $13,000
    Farmland loans - $100-250k 3 $380 $126,667