Webster Five Cents Savings Bank Mortgage Rates, Fees & Info

Webster, MA

LEI: 549300YOEBGKPKU43Q28

Tax ID: 04-1953630

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

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  • SimulatedRates™
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    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    Webster Five Cents Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Webster Five Cents Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Worcester, Boston, Providence, Barnstable Town, and New York among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Webster Five Cents 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. Webster Five Cents Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.01% 11/21/24
    30 Year Conventional Refi 6.30% 11/21/24
    30 Year Cash-out Refi 6.52% 11/21/24
    15 Year Conventional Purchase 5.46% 11/21/24
    15 Year Conventional Refi 6.02% 11/21/24
    15 Year Cash-out Refi 6.02% 11/21/24
    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.

    Webster Five Cents Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Webster Five Cents 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

    414

    Origination Dollar Volume (All Markets)

    $138,460,000

    Employee count

    139

    Awards

    Webster Five Cents Savings Bank 30 Year Conventional Loans bronze Webster Five Cents Savings Bank 30 Year Conventional Loans bronze Webster Five Cents Savings Bank 30 Year Conventional Loans bronze
    Show all (3) awards

    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) 356 $105,710,000 $296,938 $2,824 3.14%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 32 $25,290,000 $790,313 $2,858 3.30%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 11 $3,885,000 $353,182 $2,473 3.13%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 4 $1,110,000 $277,500 $2,812 2.63%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $650,000 $325,000 $4,287 2.94%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 3 $545,000 $181,667 $2,026 3.46%
    SPRINGFIELD, MA (FHA|USDA|VA) 2 $350,000 $175,000 $2,650 3.37%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $305,000 $305,000 $0 3.63%
    Outside of Metro Areas 1 $235,000 $235,000 $2,147 2.88%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 1 $225,000 $225,000 $2,984 2.88%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $155,000 $155,000 $0 3.50%
    Webster Five Cents Savings Bank's top markets include Worcester, Boston, Providence, Barnstable Town, and New York among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)
  • Connecticut (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • New Hampshire (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Webster Five Cents Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Sharon & Crescent United Credit Union
    Similarity Rank: 335
    LUSO-AMERICAN CREDIT UNION
    Similarity Rank: 474
    East Boston Savings Bank
    Similarity Rank: 755
    Piscataqua Savings Bank
    Similarity Rank: 789
    Norwood Co-operative Bank
    Similarity Rank: 820
    Middlesex Savings Bank
    Similarity Rank: 846
    QUINCY CREDIT UNION
    Similarity Rank: 900
    Centreville Bank
    Similarity Rank: 966
    Charter Oak Federal Credit Union
    Similarity Rank: 990
    Bridgewater Savings Bank
    Similarity Rank: 1001

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 414 $138,460,000 $334,444 $2,813 3.15%

    For 2021, Webster Five Cents Savings Bank's most frequently originated type of loan was Conventional, with 414 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 150 $76,950,000 $513,000 $3,591 3.11%
    Refi 130 $35,930,000 $276,385 $2,719 2.91%
    Cash Out Refi 99 $23,845,000 $240,859 $2,884 3.05%
    Home Improvement 19 $1,045,000 $55,000 $315 4.43%
    Other 16 $690,000 $43,125 $153 4.52%

    For 2021, Webster Five Cents Savings Bank's most frequently cited loan purpose was Home Purchase, with 150 originations. The 2nd most popular reason was Refi, with 130 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 236 $74,120,000 $314,068 $3,117 3.04%
    15 Year 62 $11,830,000 $190,806 $2,570 2.65%
    20 Year 33 $8,715,000 $264,091 $2,204 3.31%
    Other 33 $25,115,000 $761,061 $2,885 3.67%
    10 Year 25 $3,195,000 $127,800 $626 4.04%
    30+ year 16 $6,810,000 $425,625 $5,190 3.34%
    5 Year 9 $8,675,000 $963,889 $154 4.14%

    For 2021, Webster Five Cents Savings Bank's most frequently cited loan duration was 30 Year, with 236 originations. The 2nd most popular length was 15 Year, with 62 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 307 $76,925,000 $250,570
    $1k-2k 42 $11,910,000 $283,571
    $2k-3k 12 $4,070,000 $339,167
    $3k-4k 2 $420,000 $210,000
    $4k-5k 1 $165,000 $165,000
    $5k+ 1 $295,000 $295,000

    Webster Five Cents Savings Bank's average total fees were $3,117, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 307 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 196 $54,170,000 $276,378
    3-4% 134 $61,630,000 $459,925
    <2.5% 44 $10,190,000 $231,591
    4-5% 31 $11,595,000 $374,032
    5-6% 8 $820,000 $102,500
    6-7% 1 $55,000 $55,000

    During 2021, Webster Five Cents Savings Bank's average interest rate for loans was 3.04%, while their most frequently originated rate bucket for loans was 2.5-3%, with 196 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 193 $53,865,000 $279,093 $3,039 2.99%
    $100k-200k 105 $16,435,000 $156,524 $2,761 2.98%
    $400k-600k 54 $25,800,000 $477,778 $3,921 3.08%
    $100,000 or less 44 $2,110,000 $47,955 $478 4.18%
    $1MM+ 9 $33,435,000 $3,715,000 $5,730 3.68%
    $600k-1MM 9 $6,815,000 $757,222 $4,353 3.28%

    2021 saw Webster Five Cents Savings Bank place emphasis on $200k-400k loans with 193 originations, totaling $53,865,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 117 $30,295,000 $258,932 $2,779 3.10%
    $150k-250k 86 $27,130,000 $315,465 $2,879 3.16%
    $75k-100k 69 $14,965,000 $216,884 $2,795 3.04%
    $50k-75k 67 $13,055,000 $194,851 $2,640 3.02%
    $50k or less 24 $3,750,000 $156,250 $2,839 3.16%
    $250k+ 13 $7,225,000 $555,769 $3,387 3.14%

    Webster Five Cents Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 117 originations. The second most popular income band? $150k-250k, with 86 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 124 $35,370,000 $285,242 $2,753 3.06%
    30-36% 72 $17,790,000 $247,083 $2,955 3.02%
    <20% 29 $6,055,000 $208,793 $2,768 2.75%
    41% 20 $3,870,000 $193,500 $2,302 3.20%
    43% 16 $3,330,000 $208,125 $2,378 3.29%
    36% 16 $4,670,000 $291,875 $2,821 3.07%
    40% 15 $4,435,000 $295,667 $3,048 3.17%
    42% 14 $3,200,000 $228,571 $2,703 3.35%
    44% 14 $3,520,000 $251,429 $2,755 3.67%
    37% 12 $3,240,000 $270,000 $2,972 3.03%
    38% 11 $2,815,000 $255,909 $2,961 3.25%
    49% 10 $2,510,000 $251,000 $3,313 2.99%
    45% 9 $2,015,000 $223,889 $2,715 3.04%
    47% 7 $1,775,000 $253,571 $2,985 2.82%
    46% 6 $2,160,000 $360,000 $3,274 3.29%
    39% 6 $1,330,000 $221,667 $2,866 2.98%
    48% 4 $1,170,000 $292,500 $3,602 3.22%

    Webster Five Cents Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 124 originations. The next most common DTI ratio? 30-36%, with 72 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 308 $78,870,000 $256,071 $2,821 3.08%
    Not applicable 25 $37,915,000 $1,516,600 $0 4.02%
    Not provided 58 $13,600,000 $234,483 $2,520 3.18%
    Black 10 $3,180,000 $318,000 $3,237 3.05%
    Asian Indian 4 $2,750,000 $687,500 $3,915 2.94%
    Asian 8 $1,570,000 $196,250 $4,026 3.03%
    Chinese 1 $575,000 $575,000 $3,075 2.88%

    Approval Rates

    Total approvals of all applications
    89.21%

    Webster Five Cents Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.09%

    Webster Five Cents Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 414 $138,460,000 $334,444

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    414 $138,460,000 $334,444

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 36 $7,440,000 $206,667 $2,742 3.01%
    40-60% 95 $26,105,000 $274,789 $2,744 2.86%
    60-80% 166 $77,770,000 $468,494 $3,208 3.15%
    80-100% 80 $25,580,000 $319,750 $3,501 3.00%
    Under 20% 37 $1,565,000 $42,297 $162 4.37%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    WEBSTER BANK, NATIONAL ASSOCIATION Conventional home mortgage Closing on a mortgage 1 20.0%
    WEBSTER BANK, NATIONAL ASSOCIATION Conventional home mortgage Trouble during payment process 3 60.0%
    WEBSTER BANK, NATIONAL ASSOCIATION Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Webster Five Cents Savings Bank 100 Front Street Worcester, MA 1608 Full Service B&M $80,560
    Webster Five Cents Savings Bank 136 Thompson Rd Webster, MA 1570 Full Service B&M $250,486
    Webster Five Cents Savings Bank 208 West Main Street Dudley, MA 1571 Full Service B&M $88,981
    Webster Five Cents Savings Bank 261 Grafton Street Shrewsbury, MA 1545 Full Service B&M $80,998
    Webster Five Cents Savings Bank 266 Chandler Street Worcester, MA 1602 Full Service B&M $100,372
    Webster Five Cents Savings Bank 343 Main Street Oxford, MA 1540 Full Service B&M $142,938
    Webster Five Cents Savings Bank 400 Southbridge Street Auburn, MA 1501 Full Service B&M $128,986

    For 2021, Webster Five Cents Savings Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $33,437
    Net interest income $31,947
    Total noninterest income $6,596
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,216
    Trading account gains and fees $0
    Additional Noninterest Income $5,380
    Pre-tax net operating income $9,463
    Securities gains (or losses, -) $0
    Income before extraordinary items $7,492
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,492
    Minority interest net income $0
    Net income $7,492
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,492

    Webster Five Cents Savings Bank's gross interest income from loans was $33,437,000.
    Webster Five Cents Savings Bank's net interest income from loans was $31,947,000.
    Webster Five Cents Savings Bank's fee based income from loans was $1,216,000.
    Webster Five Cents Savings Bank's net income from loans was $7,492,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,490
    Provision for credit losses $704
    Total noninterest expense $28,376
    Salaries and employee benefits $16,759
    Premises and equipment expense $3,222
    Additional noninterest expense $8,395
    Applicable income taxes $1,971
    Net charge-offs $561
    Cash dividends $0

    Webster Five Cents Savings Bank's interest expense for loans was $1,490,000.
    Webster Five Cents Savings Bank's payroll and benefits expense were $16,759,000.
    Webster Five Cents Savings Bank's property, plant and equipment expenses $3,222,000.

    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 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $929,716
    Deposits held in domestic offices $929,716
    Deposits by Individuals, partnerships, and corporations $892,087
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $37,379
    Deposits by Commercial banks and other depository institutions in U.S. $250
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $367,279
    Demand deposits $262,506
    Nontransaction accounts $562,437
    Money market deposit accounts (MMDAs) $129,814
    Other savings deposits (excluding MMDAs) $373,041
    Total time deposits $59,581
    Total time and savings deposits $667,210
    Noninterest-bearing deposits $263,559
    Interest-bearing deposits $666,157
    Retail deposits $919,313
    IRAs and Keogh plan accounts $11,984
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,068,257
    Cash & Balances due from depository institutions $75,106
    Interest-bearing balances $69,215
    Total securities $201,474
    Federal funds sold & reverse repurchase $2,779
    Net loans and leases $731,477
    Loan and leases loss allowance $9,075
    Trading account assets $0
    Bank premises and fixed assets $25,953
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $31,468

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,068,257
    Total Liabilities $940,969
    Total deposits $929,716
    Interest-bearing deposits $666,157
    Deposits held in domestic offices $929,716
    % insured (estimated) $65
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $445
    Subordinated debt $0
    All other liabilities $10,808

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $731,477
    Loan and leases loss allowance $9,075
    Total loans and leases (domestic) $740,552
    All real estate loans $646,042
    Real estate loans in domestic offices $646,042
    Construction and development loans $93,983
    Residential 1-4 family construction $8,600
    Other construction, all land development and other land $85,383
    Loans secured by nonfarm nonresidential properties $298,980
    Nonfarm nonresidential secured by owner-occupied properties $48,726
    Commercial real estate & other non-farm, non-residential $250,254
    Multifamily residential real estate $68,105
    1-4 family residential loans $184,060
    Farmland loans $914
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $53,736
    To non-U.S. addressees $0
    Loans to individuals $5,881
    Credit card loans $0
    Related Plans $20
    Consumer Auto Loans $413
    Other loans to individuals $5,448
    All other loans & leases $34,893
    Loans to foreign governments and official institutions $0
    Other loans $34,893
    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 $421
    Non 1-4 family restructured loans & leases $225
    Total loans and leases (foreign) $0

    Webster Five Cents Savings Bank had $731,477,000 of loans outstanding in 2021. $646,042,000 of loans were in real estate loans. $93,983,000 of loans were in development loans. $68,105,000 of loans were in multifamily mortgage loans. $184,060,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $413,000 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 149 $39,901 $267,792
    Nonfarm, nonresidential loans - <$100k 15 $494 $32,933
    Nonfarm, nonresidential loans - $100-250k 44 $5,959 $135,432
    Nonfarm, nonresidential loans - $250k-1MM 90 $33,448 $371,644
    Commercial & Industrial, US addressed loans - <$1MM 350 $24,915 $71,186
    Commercial & Industrial, US addressed loans - <$100k 224 $4,203 $18,763
    Commercial & Industrial, US addressed loans - $100-250k 67 $5,818 $86,836
    Commercial & Industrial, US addressed loans - $250k-1MM 59 $14,894 $252,441