Merrimack County Savings Bank Mortgage Rates, Fees & Info

Concord, NH

LEI: 549300YV7HFY5MTM2Z65

Tax ID: 02-0166180

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
  • 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

    Merrimack County Savings Bank is a smaller bank specializing in Home Purchase loans. Merrimack County Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Concord, Manchester, Boston, Laconia, and Lebanon among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Merrimack County 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. Merrimack County 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 6.10% 11/17/24
    30 Year Conventional Refi 6.12% 11/17/24
    30 Year Cash-out Refi 6.23% 11/17/24
    15 Year Conventional Purchase 5.66% 11/17/24
    15 Year Conventional Refi 6.17% 11/17/24
    15 Year Cash-out Refi 6.17% 11/17/24
    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.

    Merrimack County Savings Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Merrimack County 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

    322

    Origination Dollar Volume (All Markets)

    $69,540,000

    Employee count

    156

    Awards

    Merrimack County Savings Bank 30 Year Conventional Loans bronze Merrimack County Savings Bank 30 Year Conventional Loans bronze Merrimack County Savings Bank 30 Year Conventional Loans gold Merrimack County Savings Bank 30 Year Conventional Loans silver
    Show all (4) 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
    Concord, NH (FHA|USDA|VA) 190 $36,080,000 $189,895 $2,716 4.70%
    MANCHESTER-NASHUA, NH (FHA|USDA|VA) 70 $16,530,000 $236,143 $3,531 4.75%
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 26 $7,360,000 $283,077 $3,744 4.79%
    Laconia, NH (FHA|USDA|VA) 23 $6,895,000 $299,783 $4,035 4.90%
    Outside of Metro Areas 3 $1,175,000 $391,667 $2,963 4.25%
    Lebanon, NH-VT (FHA|USDA|VA) 4 $660,000 $165,000 $1,914 4.69%
    Keene, NH (FHA|USDA|VA) 4 $530,000 $132,500 $2,663 5.25%
    Berlin, NH (FHA|USDA|VA) 2 $310,000 $155,000 $4,416 4.63%
    Merrimack County Savings Bank's top markets include Concord, Manchester, Boston, Laconia, and Lebanon among others.

    Their top states include:
  • New Hampshire (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)

    • Similar Lenders

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

    MERRIMACK VALLEY
    Similarity Rank: 110
    Middlesex Federal Savings, F.A.
    Similarity Rank: 111
    Members First Credit Union N.H.
    Similarity Rank: 119
    First Ipswich Bank
    Similarity Rank: 164
    Middlesex Savings Bank
    Similarity Rank: 165
    Coastal Heritage Bank
    Similarity Rank: 180
    NEW HAMPSHIRE
    Similarity Rank: 196
    Bristol County Savings Bank
    Similarity Rank: 210
    Milford Federal Bank
    Similarity Rank: 285
    LOGIX FEDERAL CREDIT UNION
    Similarity Rank: 322

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 322 $69,540,000 $215,963 $3,072 4.73%

    For 2018, Merrimack County Savings Bank's most frequently originated type of loan was Conventional, with 322 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 188 $48,450,000 $257,713 $4,063 4.66%
    Refi 45 $8,115,000 $180,333 $1,685 5.01%
    Cash Out Refi 38 $8,420,000 $221,579 $2,771 4.41%
    Home Improvement 26 $2,220,000 $85,385 $360 4.98%
    Other 25 $2,335,000 $93,400 $984 5.01%

    For 2018, Merrimack County Savings Bank's most frequently cited loan purpose was Home Purchase, with 188 originations. The 2nd most popular reason was Refi, with 45 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 147 $33,415,000 $227,313 $2,836 4.58%
    30+ year 51 $18,355,000 $359,902 $6,988 4.42%
    20 Year 47 $9,305,000 $197,979 $1,724 5.18%
    15 Year 35 $4,335,000 $123,857 $1,593 4.87%
    10 Year 25 $1,755,000 $70,200 $138 5.18%
    5 Year 10 $430,000 $43,000 $0 4.30%
    Other 7 $1,945,000 $277,857 $4,107 5.59%

    For 2018, Merrimack County Savings Bank's most frequently cited loan duration was 30 Year, with 147 originations. The 2nd most popular length was 30+ year, with 51 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 214 $39,300,000 $183,645
    $5k+ 15 $7,085,000 $472,333
    $3k-4k 14 $4,460,000 $318,571
    $4k-5k 13 $5,445,000 $418,846
    $2k-3k 11 $2,235,000 $203,182
    $1k-2k 9 $1,255,000 $139,444

    Merrimack County Savings Bank's average total fees were $2,836, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 214 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 157 $36,385,000 $231,752
    5-6% 87 $15,085,000 $173,391
    3-4% 68 $17,310,000 $254,559
    6-7% 9 $695,000 $77,222
    7-8% 1 $65,000 $65,000

    During 2018, Merrimack County Savings Bank's average interest rate for loans was 4.58%, while their most frequently originated rate bucket for loans was 4-5%, with 157 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 122 $33,170,000 $271,885 $3,969 4.53%
    $100k-200k 95 $14,645,000 $154,158 $2,571 4.69%
    $100,000 or less 73 $3,875,000 $53,082 $650 5.23%
    $400k-600k 20 $9,430,000 $471,500 $6,283 4.59%
    $600k-1MM 11 $7,415,000 $674,091 $6,700 4.35%
    $1MM+ 1 $1,005,000 $1,005,000 $12,032 4.13%

    2018 saw Merrimack County Savings Bank place emphasis on $200k-400k loans with 122 originations, totaling $33,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 92 $18,350,000 $199,457 $2,848 4.69%
    $75k-100k 56 $9,870,000 $176,250 $2,727 4.75%
    $150k-250k 52 $12,110,000 $232,885 $3,249 4.61%
    $50k-75k 43 $6,595,000 $153,372 $2,582 4.82%
    $250k+ 32 $12,870,000 $402,188 $5,010 4.37%
    $50k or less 20 $2,460,000 $123,000 $2,533 4.60%

    Merrimack County Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 92 originations. The second most popular income band? $75k-100k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 72 $14,940,000 $207,500 $2,724 4.55%
    30-36% 51 $10,025,000 $196,569 $2,830 4.71%
    43% 21 $5,675,000 $270,238 $4,596 4.45%
    <20% 19 $3,655,000 $192,368 $3,031 4.18%
    38% 19 $3,495,000 $183,947 $2,413 5.03%
    40% 18 $3,480,000 $193,333 $2,658 4.65%
    45% 15 $3,215,000 $214,333 $3,150 4.68%
    39% 14 $2,270,000 $162,143 $1,858 5.12%
    37% 11 $2,675,000 $243,182 $3,958 4.90%
    44% 10 $2,880,000 $288,000 $3,974 4.75%
    42% 9 $2,085,000 $231,667 $4,120 5.00%
    47% 8 $2,120,000 $265,000 $3,508 4.66%
    36% 8 $950,000 $118,750 $1,897 5.25%
    41% 6 $1,150,000 $191,667 $3,203 4.62%
    48% 6 $1,550,000 $258,333 $4,868 4.44%
    46% 4 $1,070,000 $267,500 $4,087 4.56%
    49% 3 $725,000 $241,667 $2,954 4.13%
    50-60% 1 $295,000 $295,000 $2,867 3.75%

    Merrimack County Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 72 originations. The next most common DTI ratio? 30-36%, with 51 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 231 $48,435,000 $209,675 $3,083 4.68%
    Not provided 57 $11,895,000 $208,684 $2,925 4.63%
    Not applicable 26 $7,260,000 $279,231 $0 5.45%
    Black 2 $780,000 $390,000 $6,390 4.19%
    Asian 2 $480,000 $240,000 $2,754 4.31%
    American Indian 3 $395,000 $131,667 $2,756 5.25%
    Other Asian 1 $295,000 $295,000 $2,867 3.75%

    Approval Rates

    Total approvals of all applications
    89.95%

    Merrimack County Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.02%

    Merrimack County Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 322 $69,540,000 $215,963

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $25,000 $25,000
    Multifamily:Site-Built 8 $3,930,000 $491,250
    Single Family (1-4 Units):Manufactured 3 $255,000 $85,000
    Single Family (1-4 Units):Site-Built 310 $65,330,000 $210,742

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $2,850,000 $109,615 $1,500 4.78%
    40-60% 40 $7,070,000 $176,750 $2,581 4.41%
    60-80% 126 $31,630,000 $251,032 $3,774 4.74%
    80-100% 90 $26,400,000 $293,333 $4,263 4.60%
    Under 20% 40 $1,590,000 $39,750 $2 5.30%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Merrimack County Savings Bank 1 Integra Drive Concord, NH 3302 Full Service B&M $49,855
    Merrimack County Savings Bank 101 Broad Street Nashua, NH 3064 Full Service B&M $43,350
    Merrimack County Savings Bank 167 North State Street Concord, NH 3301 Full Service B&M $55,997
    Merrimack County Savings Bank 190 North Main Street Concord, NH 3301 Full Service B&M $67,078
    Merrimack County Savings Bank 35 Kearsarge Avenue Contoocook, NH 3229 Full Service B&M $44,973
    Merrimack County Savings Bank 360 Londonderry Turnpike Road Hooksett, NH 3106 Full Service B&M $8,056
    Merrimack County Savings Bank 503 South Street Bow, NH 3304 Full Service B&M $108,399
    Merrimack County Savings Bank 530 West River Road Hooksett, NH 3106 Full Service B&M $4,010
    Merrimack County Savings Bank 89 North Main Street Concord, NH 3301 Full Service B&M $270,073

    For 2018, Merrimack County Savings Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $34,816
    Net interest income $29,817
    Total noninterest income $3,478
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $756
    Trading account gains and fees $0
    Additional Noninterest Income $2,722
    Pre-tax net operating income $8,113
    Securities gains (or losses, -) $-14
    Income before extraordinary items $6,248
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,248
    Minority interest net income $0
    Net income $6,248
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,259

    Merrimack County Savings Bank's gross interest income from loans was $34,816,000.
    Merrimack County Savings Bank's net interest income from loans was $29,817,000.
    Merrimack County Savings Bank's fee based income from loans was $756,000.
    Merrimack County Savings Bank's net income from loans was $6,248,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,999
    Provision for credit losses $1,021
    Total noninterest expense $24,161
    Salaries and employee benefits $13,349
    Premises and equipment expense $2,912
    Additional noninterest expense $7,900
    Applicable income taxes $1,851
    Net charge-offs $218
    Cash dividends $134

    Merrimack County Savings Bank's interest expense for loans was $4,999,000.
    Merrimack County Savings Bank's payroll and benefits expense were $13,349,000.
    Merrimack County Savings Bank's property, plant and equipment expenses $2,912,000.

    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 $659,402
    Deposits held in domestic offices $659,402
    Deposits by Individuals, partnerships, and corporations $609,861
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $43,470
    Deposits by Commercial banks and other depository institutions in U.S. $6,071
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $53,512
    Demand deposits $30,730
    Nontransaction accounts $605,890
    Money market deposit accounts (MMDAs) $135,325
    Other savings deposits (excluding MMDAs) $326,276
    Total time deposits $144,290
    Total time and savings deposits $628,672
    Noninterest-bearing deposits $30,730
    Interest-bearing deposits $628,672
    Retail deposits $633,582
    IRAs and Keogh plan accounts $21,832
    Brokered deposits $12,304
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $895,849
    Cash & Balances due from depository institutions $27,009
    Interest-bearing balances $14,045
    Total securities $87,826
    Federal funds sold & reverse repurchase $400
    Net loans and leases $732,183
    Loan and leases loss allowance $5,039
    Trading account assets $0
    Bank premises and fixed assets $14,549
    Other real estate owned $257
    Goodwill and other intangibles $7,562
    All other assets $26,063

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $895,849
    Total Liabilities $808,135
    Total deposits $659,402
    Interest-bearing deposits $628,672
    Deposits held in domestic offices $659,402
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $68,348
    Trading liabilities $0
    Other borrowed funds $74,820
    Subordinated debt $0
    All other liabilities $5,565

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $732,183
    Loan and leases loss allowance $5,039
    Total loans and leases (domestic) $737,222
    All real estate loans $589,278
    Real estate loans in domestic offices $589,278
    Construction and development loans $33,710
    Residential 1-4 family construction $7,297
    Other construction, all land development and other land $26,413
    Loans secured by nonfarm nonresidential properties $205,629
    Nonfarm nonresidential secured by owner-occupied properties $87,760
    Commercial real estate & other non-farm, non-residential $117,869
    Multifamily residential real estate $32,502
    1-4 family residential loans $317,025
    Farmland loans $412
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $90,381
    To non-U.S. addressees $0
    Loans to individuals $57,270
    Credit card loans $0
    Related Plans $197
    Consumer Auto Loans $6,641
    Other loans to individuals $50,432
    All other loans & leases $293
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $2,009
    Non 1-4 family restructured loans & leases $1,195
    Total loans and leases (foreign) $0

    Merrimack County Savings Bank had $732,183,000 of loans outstanding in 2018. $589,278,000 of loans were in real estate loans. $33,710,000 of loans were in development loans. $32,502,000 of loans were in multifamily mortgage loans. $317,025,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $6,641,000 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 403 $91,640 $227,395
    Nonfarm, nonresidential loans - <$100k 65 $2,521 $38,785
    Nonfarm, nonresidential loans - $100-250k 154 $18,544 $120,416
    Nonfarm, nonresidential loans - $250k-1MM 184 $70,575 $383,560
    Commercial & Industrial, US addressed loans - <$1MM 641 $40,164 $62,658
    Commercial & Industrial, US addressed loans - <$100k 442 $9,484 $21,457
    Commercial & Industrial, US addressed loans - $100-250k 103 $8,855 $85,971
    Commercial & Industrial, US addressed loans - $250k-1MM 96 $21,825 $227,344
    Farmland loans - <$1MM 1 $412 $412,000
    Farmland loans - $250k-1MM 1 $412 $412,000