Fairfield County Bank Mortgage Rates, Fees & Info
Ridgefield, CT
LEI: U9WBLC3ZT2VBJSNY2Y81
Tax ID: 06-0510330
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Mortgage Data
Bank Data
Overview
Fairfield County Bank is a
smaller
bank
specializing in
Home Purchase and Refi loans.
Fairfield County Bank has a high proportion of conventional loans.
Their top markets include Bridgeport, New York, New Haven, Torrington, and Hartford among others. Fairfield County Bank has
an above average
approval rate for mortages when compared nationally.
They have
a below average
pick rate when compared to the same sample of other lendors.
Fairfield County Bank is typically
an average fee
lendor.
Originations
377
Origination Dollar Volume (All Markets)
$211,905,000
Employee count
255
Relative Rate
Fairfield County Bank's average 30 year fixed rate mortgage of loans were
3.07%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.08%.
Relative Fees
Fairfield County Bank's average total fees for a 30 year fixed rate
mortgage are $4,873.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA)
|
333
|
$184,645,000 |
$554,489 |
$4,553 |
3.03% |
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA)
|
13
|
$15,105,000 |
$1,161,923 |
$7,229 |
3.76% |
NEW HAVEN-MILFORD, CT (FHA|USDA|VA)
|
12
|
$5,540,000 |
$461,667 |
$4,225 |
2.97% |
Torrington, CT (FHA|USDA|VA)
|
12
|
$4,500,000 |
$375,000 |
$4,089 |
3.05% |
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA)
|
4
|
$1,260,000 |
$315,000 |
$3,926 |
3.31% |
Bennington, VT (FHA|USDA|VA)
|
1
|
$325,000 |
$325,000 |
$3,266 |
3.13% |
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA)
|
1
|
$275,000 |
$275,000 |
$2,835 |
3.38% |
NORWICH-NEW LONDON, CT (FHA|USDA|VA)
|
1
|
$255,000 |
$255,000 |
$2,986 |
3.25% |
Fairfield County Bank's top markets include Bridgeport, New York, New Haven, Torrington, and Hartford among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
377 |
$211,905,000 |
$562,082 |
$4,572 |
3.06% |
For the 2021 period, Fairfield County Bank's most frequently
originated loan type
of loans were Conventional, with 377 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Home Purchase |
179 |
$115,245,000 |
$643,827 |
$5,703 |
3.21% |
Refi |
162 |
$82,660,000 |
$510,247 |
$3,689 |
2.87% |
Cash Out Refi |
23 |
$8,485,000 |
$368,913 |
$3,557 |
3.14% |
Home Improvement |
7 |
$2,935,000 |
$419,286 |
$3,110 |
3.46% |
Other |
6 |
$2,580,000 |
$430,000 |
$4,684 |
2.92% |
For the 2021, Fairfield County Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 179
originations.
The 2nd most popular reason of loans were Refi,
with 162 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
30 Year |
226 |
$115,340,000 |
$510,354 |
$4,873 |
3.07% |
Other |
73 |
$67,235,000 |
$921,027 |
$4,689 |
3.53% |
15 Year |
55 |
$18,955,000 |
$344,636 |
$3,629 |
2.45% |
20 Year |
17 |
$8,405,000 |
$494,412 |
$3,842 |
3.05% |
10 Year |
6 |
$1,970,000 |
$328,333 |
$3,290 |
2.70% |
For the 2021, Fairfield County Bank's most frequently cited loan
length
of loans were 30 Year, with 226 originations.
The 2nd most popular length of loans were Other,
with 73 originations.
Origination Fees
Origination Fee |
Originations |
Total Value |
Average Loan |
$<1k |
287 |
$142,075,000 |
$495,035 |
$1k-2k |
33 |
$17,625,000 |
$534,091 |
$2k-3k |
7 |
$3,525,000 |
$503,571 |
$5k+ |
4 |
$3,920,000 |
$980,000 |
$3k-4k |
3 |
$1,845,000 |
$615,000 |
$4,873 of loans were Fairfield County Bank's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 287 originations.
Interest Rates
Loan Rate |
Originations |
Total Value |
Average Loan |
2.5-3% |
213 |
$119,365,000 |
$560,399 |
3-4% |
99 |
$62,155,000 |
$627,828 |
<2.5% |
46 |
$15,300,000 |
$332,609 |
4-5% |
11 |
$3,455,000 |
$314,091 |
5-6% |
4 |
$6,620,000 |
$1,655,000 |
6-7% |
4 |
$5,010,000 |
$1,252,500 |
During 2021, Fairfield County Bank's average interest
rate of loans were 3.07%, while their
most frequently originated rate bucket of loans were 2.5-3%,
with 213 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$200k-400k |
114 |
$34,700,000 |
$304,386 |
$3,709 |
2.93% |
$400k-600k |
96 |
$46,610,000 |
$485,521 |
$4,493 |
3.02% |
$600k-1MM |
86 |
$64,840,000 |
$753,953 |
$5,492 |
3.02% |
$100k-200k |
38 |
$6,030,000 |
$158,684 |
$3,248 |
3.01% |
$1MM+ |
38 |
$59,300,000 |
$1,560,526 |
$7,769 |
3.65% |
$100,000 or less |
5 |
$425,000 |
$85,000 |
$3,157 |
3.45% |
2021 saw Fairfield County Bank place emphasis on
$200k-400k loans
with 114 originations, totaling
$34,700,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$150k-250k |
103 |
$51,595,000 |
$500,922 |
$4,485 |
2.92% |
$250k+ |
103 |
$77,195,000 |
$749,466 |
$5,611 |
2.90% |
$100k-150k |
69 |
$23,935,000 |
$346,884 |
$3,855 |
2.93% |
$75k-100k |
36 |
$9,840,000 |
$273,333 |
$3,954 |
3.08% |
$50k-75k |
22 |
$4,910,000 |
$223,182 |
$3,763 |
2.99% |
$50k or less |
4 |
$710,000 |
$177,500 |
$4,025 |
3.13% |
Fairfield County Bank lent most frequently to those with incomes in the
$150k-250k range, with
103 originations.
The second most popular income band? $250k+,
with 103 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-30% |
109 |
$53,255,000 |
$488,578 |
$4,645 |
2.87% |
30-36% |
70 |
$36,880,000 |
$526,857 |
$4,527 |
2.91% |
<20% |
44 |
$24,810,000 |
$563,864 |
$4,567 |
2.84% |
36% |
21 |
$12,125,000 |
$577,381 |
$4,849 |
2.80% |
38% |
20 |
$10,040,000 |
$502,000 |
$4,648 |
3.07% |
39% |
16 |
$7,830,000 |
$489,375 |
$4,670 |
2.92% |
37% |
14 |
$6,190,000 |
$442,143 |
$4,394 |
2.87% |
40% |
14 |
$6,860,000 |
$490,000 |
$4,566 |
3.00% |
45% |
6 |
$2,440,000 |
$406,667 |
$4,569 |
3.48% |
44% |
6 |
$1,730,000 |
$288,333 |
$4,242 |
3.12% |
42% |
4 |
$1,120,000 |
$280,000 |
$4,289 |
3.32% |
41% |
4 |
$1,860,000 |
$465,000 |
$3,893 |
3.19% |
43% |
4 |
$1,500,000 |
$375,000 |
$3,504 |
2.93% |
47% |
4 |
$1,470,000 |
$367,500 |
$4,680 |
3.13% |
48% |
4 |
$960,000 |
$240,000 |
$4,583 |
3.47% |
46% |
3 |
$1,015,000 |
$338,333 |
$4,324 |
3.63% |
49% |
2 |
$480,000 |
$240,000 |
$3,595 |
3.31% |
50-60% |
1 |
$435,000 |
$435,000 |
$4,283 |
3.65% |
Fairfield County Bank lent most frequently to those with DTI ratios
of 20-30%, with
109 originations.
The next most common DTI ratio? 30-36%,
with 70 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
White |
274 |
$137,860,000 |
$503,139 |
$4,598 |
2.96% |
Not applicable |
30 |
$40,400,000 |
$1,346,667 |
$0 |
4.45% |
Not provided |
51 |
$24,465,000 |
$479,706 |
$4,587 |
2.87% |
Asian |
11 |
$4,855,000 |
$441,364 |
$4,615 |
2.92% |
Asian Indian |
4 |
$1,690,000 |
$422,500 |
$3,971 |
2.85% |
Chinese |
1 |
$1,275,000 |
$1,275,000 |
$4,678 |
2.88% |
Black |
5 |
$1,205,000 |
$241,000 |
$3,725 |
2.82% |
Other Asian |
1 |
$155,000 |
$155,000 |
$3,083 |
2.80% |
Approval Rates
Total approvals of all applications
91.24%
Fairfield County Bank has an average approval rate.
Pick Rate
Approvals leading to origination
83.03%
Fairfield County Bank has a below average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
NA |
377 |
$211,905,000 |
$562,082 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
377 |
$211,905,000 |
$562,082 |
LTV Distribution
Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-40% |
36 |
$12,610,000 |
$350,278 |
$3,716 |
2.75% |
40-60% |
80 |
$41,110,000 |
$513,875 |
$3,849 |
3.09% |
60-80% |
192 |
$117,450,000 |
$611,719 |
$4,766 |
3.11% |
80-100% |
60 |
$34,160,000 |
$569,333 |
$5,508 |
3.01% |
Over 100% |
1 |
$4,675,000 |
$4,675,000 |
$0 |
3.50% |
Under 20% |
8 |
$1,900,000 |
$237,500 |
$3,646 |
3.17% |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
Fairfield County Bank |
69 Wall Street Norwalk, CT 6852 |
Full Service B&M
|
$133,244 |
Fairfield County Bank |
1089 Madison Avenue Bridgeport, CT 6606 |
Full Service B&M
|
$60,929 |
Fairfield County Bank |
114 Federal Road Danbury, CT 6811 |
Full Service B&M
|
$53,833 |
Fairfield County Bank |
121 New Canaan Avenue Norwalk, CT 6850 |
Full Service B&M
|
$68,801 |
Fairfield County Bank |
150 Danbury Road Ridgefield, CT 6877 |
Full Service B&M
|
$291,979 |
Fairfield County Bank |
190 Old Ridgefield Road Wilton, CT 6897 |
Full Service B&M
|
$56,967 |
Fairfield County Bank |
190 Weston Road Weston, CT 6883 |
Full Service B&M
|
$43,390 |
Fairfield County Bank |
2 Mckinley Street Norwalk, CT 6853 |
Full Service B&M
|
$103,532 |
Fairfield County Bank |
20 Compo Road South Westport, CT 6880 |
Full Service B&M
|
$154,295 |
Fairfield County Bank |
2000 Post Road Suite 103 Fairfield, CT 6824 |
Full Service B&M
|
$73,837 |
Fairfield County Bank |
255 Tunxis Hill Road Fairfield, CT 6825 |
Full Service B&M
|
$107,428 |
Fairfield County Bank |
26 Chestnut Hill Road Norwalk, CT 6851 |
Full Service B&M
|
$65,152 |
Fairfield County Bank |
374 Main St. Ridgefield, CT 6877 |
Full Service B&M
|
$116,589 |
Fairfield County Bank |
714 Post Road Darien, CT 6820 |
Full Service B&M
|
$77,368 |
Fairfield County Bank |
850 East Main Street Stamford, CT 6902 |
Full Service B&M
|
$40,531 |
Fairfield County Bank |
941 Danbury Road Wilton, CT 6897 |
Full Service B&M
|
$98,009 |
For 2021, Fairfield County Bank had 16 branches.
Yearly Performance Overview
Bank Income
Fairfield County Bank's gross interest income from loans was $60,733,000.
Fairfield County Bank's net interest income from loans was $58,346,000.
Fairfield County Bank's fee based income from loans was $1,360,000.
Fairfield County Bank's net income from loans was $15,196,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$2,387 |
Provision for credit losses |
$300 |
Total noninterest expense |
$55,826 |
Salaries and employee benefits |
$36,416 |
Premises and equipment expense |
$7,945 |
Additional noninterest expense |
$11,465 |
Applicable income taxes |
$4,093 |
Net charge-offs |
$-345 |
Cash dividends |
$0 |
Fairfield County Bank's interest expense for loans was $2,387,000.
Fairfield County Bank's payroll and benefits expense were $36,416,000.
Fairfield County Bank's property, plant and equipment expenses $7,945,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$1,584,739 |
Deposits held in domestic offices |
$1,584,739 |
Deposits by Individuals, partnerships, and corporations |
$1,509,159 |
Deposits by U.S. Government |
$0 |
Deposits by States and political subdivisions in the U.S. |
$75,242 |
Deposits by Commercial banks and other depository institutions in U.S. |
$338 |
Deposits by Banks in foreign countries |
$0 |
Deposits by Foreign governments and official institutions |
$0 |
Transaction accounts |
$158,840 |
Demand deposits |
$64,729 |
Nontransaction accounts |
$1,425,899 |
Money market deposit accounts (MMDAs) |
$319,263 |
Other savings deposits (excluding MMDAs) |
$990,518 |
Total time deposits |
$116,118 |
Total time and savings deposits |
$1,520,010 |
Noninterest-bearing deposits |
$401,992 |
Interest-bearing deposits |
$1,182,747 |
Retail deposits |
$1,544,587 |
IRAs and Keogh plan accounts |
$10,718 |
Brokered deposits |
$0 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$1,939,644 |
Cash & Balances due from depository institutions |
$250,980 |
Interest-bearing balances |
$237,914 |
Total securities |
$377,945 |
Federal funds sold & reverse repurchase |
$0 |
Net loans and leases |
$1,206,368 |
Loan and leases loss allowance |
$16,069 |
Trading account assets |
$0 |
Bank premises and fixed assets |
$23,427 |
Other real estate owned |
$0 |
Goodwill and other intangibles |
$10,704 |
All other assets |
$70,220 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$1,939,644 |
Total Liabilities |
$1,700,941 |
Total deposits |
$1,584,739 |
Interest-bearing deposits |
$1,182,747 |
Deposits held in domestic offices |
$1,584,739 |
% insured (estimated) |
$59 |
Federal funds purchased and repurchase agreements |
$0 |
Trading liabilities |
$0 |
Other borrowed funds |
$76,942 |
Subordinated debt |
$0 |
All other liabilities |
$39,260 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$1,206,368 |
Loan and leases loss allowance |
$16,069 |
Total loans and leases (domestic) |
$1,222,437 |
All real estate loans |
$1,019,187 |
Real estate loans in domestic offices |
$1,019,187 |
Construction and development loans |
$137,977 |
Residential 1-4 family construction |
$44,913 |
Other construction, all land development and other land |
$93,064 |
Loans secured by nonfarm nonresidential properties |
$507,065 |
Nonfarm nonresidential secured by owner-occupied properties |
$171,541 |
Commercial real estate & other non-farm, non-residential |
$335,524 |
Multifamily residential real estate |
$20,253 |
1-4 family residential loans |
$353,532 |
Farmland loans |
$360 |
Loans held in foreign offices |
$0 |
Farm loans |
$0 |
Commercial and industrial loans |
$199,518 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$648 |
Credit card loans |
$0 |
Related Plans |
$232 |
Consumer Auto Loans |
$0 |
Other loans to individuals |
$416 |
All other loans & leases |
$3,084 |
Loans to foreign governments and official institutions |
$0 |
Other loans |
$62 |
Loans to depository institutions and acceptances of other banks |
$0 |
Loans not secured by real estate |
$28,128 |
Loans secured by real estate to non-U.S. addressees |
$0 |
Restructured Loans & leases |
$12,106 |
Non 1-4 family restructured loans & leases |
$10,988 |
Total loans and leases (foreign) |
$0 |
Fairfield County Bank had $1,206,368,000 of loans outstanding in 2021. $1,019,187,000 of loans were in real estate loans.
$137,977,000 of loans were in development loans. $20,253,000 of loans were in multifamily mortgage loans.
$353,532,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $0 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 |
389 |
$114,089 |
$293,288 |
Nonfarm, nonresidential loans - <$100k |
47 |
$1,552 |
$33,021 |
Nonfarm, nonresidential loans - $100-250k |
91 |
$12,002 |
$131,890 |
Nonfarm, nonresidential loans - $250k-1MM |
251 |
$100,535 |
$400,538 |
Commercial & Industrial, US addressed loans - <$1MM |
1,715 |
$77,143 |
$44,981 |
Commercial & Industrial, US addressed loans - <$100k |
1,252 |
$13,767 |
$10,996 |
Commercial & Industrial, US addressed loans - $100-250k |
258 |
$23,424 |
$90,791 |
Commercial & Industrial, US addressed loans - $250k-1MM |
205 |
$39,952 |
$194,888 |
Farmland loans - <$1MM |
1 |
$360 |
$360,000 |
Farmland loans - $250k-1MM |
1 |
$360 |
$360,000 |