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 Cash Out Refi, Refi, and Home Purchase loans. North Brookfield Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Springfield, Boston, Barnstable Town, and Providence among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    North Brookfield Savings Bank has an 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% 11/23/24
    30 Year Conventional Refi 6.00% 11/23/24
    30 Year Cash-out Refi 6.03% 11/23/24
    15 Year Conventional Refi 5.79% 11/23/24
    15 Year Cash-out Refi 5.79% 11/23/24
    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

    156

    Origination Dollar Volume (All Markets)

    $32,260,000

    Employee count

    69

    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) 104 $21,410,000 $205,865 $0 0.00%
    SPRINGFIELD, MA (FHA|USDA|VA) 46 $9,100,000 $197,826 $0 0.00%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 2 $750,000 $375,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $635,000 $211,667 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
    North Brookfield Savings Bank's top markets include Worcester, Springfield, Boston, Barnstable Town, and Providence among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 156 $32,260,000 $206,795 $0 0.00%

    For 2021, North Brookfield Savings Bank's most frequently originated type of loan was Conventional, with 156 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 62 $12,330,000 $198,871 $0 0.00%
    Refi 44 $8,690,000 $197,500 $0 0.00%
    Home Purchase 38 $10,550,000 $277,632 $0 0.00%
    Home Improvement 6 $500,000 $83,333 $0 0.00%
    Other 6 $190,000 $31,667 $0 0.00%

    For 2021, North Brookfield Savings Bank's most frequently cited loan purpose was Cash Out Refi, with 62 originations. The 2nd most popular reason was Refi, with 44 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 156 $32,260,000 $206,795 $0 0.00%

    For 2021, North Brookfield Savings Bank's most frequently cited loan duration was Other, with 156 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 64 $10,100,000 $157,813 $0 0.00%
    $200k-400k 62 $16,570,000 $267,258 $0 0.00%
    $100,000 or less 20 $1,040,000 $52,000 $0 0.00%
    $400k-600k 10 $4,550,000 $455,000 $0 0.00%

    2021 saw North Brookfield Savings Bank place emphasis on $100k-200k loans with 64 originations, totaling $10,100,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 44 $7,510,000 $170,682 $0 0.00%
    $75k-100k 35 $7,485,000 $213,857 $0 0.00%
    $100k-150k 30 $6,890,000 $229,667 $0 0.00%
    $150k-250k 28 $7,100,000 $253,571 $0 0.00%
    $50k or less 15 $1,965,000 $131,000 $0 0.00%
    $250k+ 4 $1,310,000 $327,500 $0 0.00%

    North Brookfield Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 44 originations. The second most popular income band? $75k-100k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 156 $32,260,000 $206,795 $0 0.00%

    North Brookfield Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 156 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 134 $28,030,000 $209,179 $0 0.00%
    Not provided 21 $4,065,000 $193,571 $0 0.00%
    Black 1 $165,000 $165,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.72%

    North Brookfield Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.44%

    North Brookfield Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 156 $32,260,000 $206,795

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    156 $32,260,000 $206,795

    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 $42,676
    North Brookfield Savings Bank 1051 Thorndike Street Palmer, MA 1069 Full Service B&M $17,396
    North Brookfield Savings Bank 128 West Main Street West Brookfield, MA 1585 Full Service B&M $59,964
    North Brookfield Savings Bank 2060 Main Street Three Rivers, MA 1080 Full Service B&M $21,879
    North Brookfield Savings Bank 35 Summer St North Brookfield, MA 1535 Full Service Cyber Office $591
    North Brookfield Savings Bank 4 Daniel Shays Highway Belchertown, MA 1007 Full Service B&M $20,399
    North Brookfield Savings Bank 40 Main Street Ware, MA 1082 Full Service B&M $23,014
    North Brookfield Savings Bank 9 Gilbert St North Brookfield, MA 1535 Full Service B&M $116,963

    For 2021, North Brookfield Savings Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $10,901
    Net interest income $10,377
    Total noninterest income $1,930
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $618
    Trading account gains and fees $0
    Additional Noninterest Income $1,312
    Pre-tax net operating income $2,481
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,896
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,896
    Minority interest net income $0
    Net income $1,896
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,896

    North Brookfield Savings Bank's gross interest income from loans was $10,901,000.
    North Brookfield Savings Bank's net interest income from loans was $10,377,000.
    North Brookfield Savings Bank's fee based income from loans was $618,000.
    North Brookfield Savings Bank's net income from loans was $1,896,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $524
    Provision for credit losses $-189
    Total noninterest expense $10,015
    Salaries and employee benefits $5,404
    Premises and equipment expense $1,496
    Additional noninterest expense $3,115
    Applicable income taxes $585
    Net charge-offs $-13
    Cash dividends $0

    North Brookfield Savings Bank's interest expense for loans was $524,000.
    North Brookfield Savings Bank's payroll and benefits expense were $5,404,000.
    North Brookfield Savings Bank's property, plant and equipment expenses $1,496,000.

    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 $302,993
    Deposits held in domestic offices $302,993
    Deposits by Individuals, partnerships, and corporations $295,292
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $7,689
    Deposits by Commercial banks and other depository institutions in U.S. $12
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $95,009
    Demand deposits $62,233
    Nontransaction accounts $207,984
    Money market deposit accounts (MMDAs) $32,779
    Other savings deposits (excluding MMDAs) $110,262
    Total time deposits $64,943
    Total time and savings deposits $240,760
    Noninterest-bearing deposits $62,233
    Interest-bearing deposits $240,760
    Retail deposits $297,183
    IRAs and Keogh plan accounts $18,820
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $350,469
    Cash & Balances due from depository institutions $25,424
    Interest-bearing balances $22,721
    Total securities $79,546
    Federal funds sold & reverse repurchase $11
    Net loans and leases $223,407
    Loan and leases loss allowance $1,206
    Trading account assets $0
    Bank premises and fixed assets $6,015
    Other real estate owned $0
    Goodwill and other intangibles $203
    All other assets $15,863

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $350,469
    Total Liabilities $310,133
    Total deposits $302,993
    Interest-bearing deposits $240,760
    Deposits held in domestic offices $302,993
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $5,000
    Subordinated debt $0
    All other liabilities $2,140

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $223,407
    Loan and leases loss allowance $1,206
    Total loans and leases (domestic) $224,613
    All real estate loans $211,599
    Real estate loans in domestic offices $211,599
    Construction and development loans $3,819
    Residential 1-4 family construction $2,270
    Other construction, all land development and other land $1,549
    Loans secured by nonfarm nonresidential properties $33,124
    Nonfarm nonresidential secured by owner-occupied properties $18,733
    Commercial real estate & other non-farm, non-residential $14,391
    Multifamily residential real estate $13,468
    1-4 family residential loans $158,418
    Farmland loans $2,770
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $5,873
    To non-U.S. addressees $0
    Loans to individuals $7,120
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $4,658
    Other loans to individuals $2,462
    All other loans & leases $21
    Loans to foreign governments and official institutions $0
    Other loans $21
    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 $281
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    North Brookfield Savings Bank had $223,407,000 of loans outstanding in 2021. $211,599,000 of loans were in real estate loans. $3,819,000 of loans were in development loans. $13,468,000 of loans were in multifamily mortgage loans. $158,418,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,658,000 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 73 $14,632 $200,438
    Nonfarm, nonresidential loans - <$100k 12 $315 $26,250
    Nonfarm, nonresidential loans - $100-250k 26 $2,949 $113,423
    Nonfarm, nonresidential loans - $250k-1MM 35 $11,368 $324,800
    Commercial & Industrial, US addressed loans - <$1MM 104 $5,873 $56,471
    Commercial & Industrial, US addressed loans - <$100k 83 $1,767 $21,289
    Commercial & Industrial, US addressed loans - $100-250k 15 $1,668 $111,200
    Commercial & Industrial, US addressed loans - $250k-1MM 6 $2,438 $406,333
    Farmland loans - <$1MM 4 $650 $162,500
    Farmland loans - <$100k 1 $91 $91,000
    Farmland loans - $100-250k 2 $240 $120,000
    Farmland loans - $250k-1MM 1 $319 $319,000