Fairfield County Bank Mortgage Rates, Fees & Info

Ridgefield, CT

LEI: U9WBLC3ZT2VBJSNY2Y81

Tax ID: 06-0510330

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

    Fairfield County Bank is a smaller bank specializing in Home Purchase and Home Improvement loans. Fairfield County Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Bridgeport, New York, New Haven, Torrington, and Miami among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fairfield County 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. Fairfield County 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 5.86% 4/21/24
    30 Year Conventional Refi 6.14% 4/21/24
    30 Year Cash-out Refi 6.63% 4/21/24
    15 Year Conventional Purchase 5.48% 4/21/24
    15 Year Conventional Refi 5.68% 4/21/24
    15 Year Cash-out Refi 5.68% 4/21/24
    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.

    Fairfield County Bank Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Fairfield County 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

    257

    Origination Dollar Volume (All Markets)

    $174,165,000

    Employee count

    276

    Awards

    Fairfield County Bank 30 Year Conventional Loans silver Fairfield County Bank 30 Year Conventional Loans silver Fairfield County Bank 30 Year Conventional Loans silver
    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
    BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 225 $156,145,000 $693,978 $4,262 4.42%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 6 $11,910,000 $1,985,000 $4,696 4.52%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 11 $2,765,000 $251,364 $3,231 4.78%
    Torrington, CT (FHA|USDA|VA) 5 $1,115,000 $223,000 $3,870 4.60%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $690,000 $345,000 $2,654 4.44%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 2 $690,000 $345,000 $3,359 4.46%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 3 $315,000 $105,000 $2,528 4.46%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $225,000 $225,000 $2,684 3.88%
    Lebanon, NH-VT (FHA|USDA|VA) 1 $175,000 $175,000 $3,199 4.63%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $135,000 $135,000 $2,839 5.25%
    Fairfield County Bank's top markets include Bridgeport, New York, New Haven, Torrington, and Miami among others.

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

    • Similar Lenders

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

    N C P D Federal Credit Union
    Similarity Rank: 55
    POLISH NATIONAL
    Similarity Rank: 60
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    Stafford Savings Bank
    Similarity Rank: 68
    Charter Oak Federal Credit Union
    Similarity Rank: 78
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    PeoplesBank
    Similarity Rank: 104
    Union Savings Bank
    Similarity Rank: 108
    Freehold Savings Bank
    Similarity Rank: 120

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 254 $173,050,000 $681,299 $4,058 4.45%
    FHA 2 $1,060,000 $530,000 $14,757 4.06%
    HELOC 1 $55,000 $55,000 n/a 4.75%

    For 2018, Fairfield County Bank's most frequently originated type of loan was Conventional, with 254 originations. Their 2nd most popular type was FHA, with 2 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 181 $84,365,000 $466,105 $4,384 4.44%
    Refi 36 $17,700,000 $491,667 $3,385 4.16%
    Cash Out Refi 32 $15,460,000 $483,125 $3,739 4.71%
    Home Improvement 7 $56,375,000 $8,053,571 $4,078 4.80%
    Other 1 $265,000 $265,000 $3,177 4.50%

    For 2018, Fairfield County Bank's most frequently cited loan purpose was Home Purchase, with 181 originations. The 2nd most popular reason was Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 206 $92,370,000 $448,398 $4,267 4.41%
    15 Year 24 $7,980,000 $332,500 $3,362 3.96%
    Other 16 $29,170,000 $1,823,125 $0 5.54%
    20 Year 9 $2,875,000 $319,444 $3,214 4.41%
    3 Year 1 $41,535,000 $41,535,000 $0 5.13%
    5 Year 1 $235,000 $235,000 $0 6.00%

    For 2018, Fairfield County Bank's most frequently cited loan duration was 30 Year, with 206 originations. The 2nd most popular length was 15 Year, with 24 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 189 $76,885,000 $406,799
    $1k-2k 32 $10,460,000 $326,875
    $2k-3k 4 $1,730,000 $432,500
    $3k-4k 4 $1,400,000 $350,000
    $4k-5k 3 $1,415,000 $471,667
    $5k+ 1 $1,005,000 $1,005,000

    Fairfield County Bank's average total fees were $4,267, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 189 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 154 $74,660,000 $484,805
    3-4% 72 $31,770,000 $441,250
    5-6% 27 $61,605,000 $2,281,667
    6-7% 2 $3,040,000 $1,520,000
    7-8% 2 $3,090,000 $1,545,000

    During 2018, Fairfield County Bank's average interest rate for loans was 4.41%, while their most frequently originated rate bucket for loans was 4-5%, with 154 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 88 $26,590,000 $302,159 $3,782 4.46%
    $400k-600k 67 $30,935,000 $461,716 $4,566 4.32%
    $100k-200k 46 $6,840,000 $148,696 $3,152 4.49%
    $600k-1MM 36 $27,310,000 $758,611 $5,171 4.22%
    $1MM+ 14 $82,050,000 $5,860,714 $8,450 5.16%
    $100,000 or less 6 $440,000 $73,333 $3,084 4.96%

    2018 saw Fairfield County Bank place emphasis on $200k-400k loans with 88 originations, totaling $26,590,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 71 $30,715,000 $432,606 $4,370 4.35%
    $100k-150k 61 $19,095,000 $313,033 $3,698 4.35%
    $250k+ 51 $31,965,000 $626,765 $4,834 4.30%
    $75k-100k 25 $6,445,000 $257,800 $3,965 4.42%
    $50k-75k 21 $3,945,000 $187,857 $3,384 4.40%
    $50k or less 6 $1,060,000 $176,667 $3,613 4.18%

    Fairfield County Bank lent most frequently to those with incomes in the $150k-250k range, with 71 originations. The second most popular income band? $100k-150k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 64 $27,480,000 $429,375 $4,344 4.39%
    20-30% 56 $24,210,000 $432,321 $3,966 4.36%
    <20% 18 $5,870,000 $326,111 $3,632 4.07%
    38% 12 $5,690,000 $474,167 $3,918 4.26%
    36% 12 $4,190,000 $349,167 $4,684 4.40%
    49% 9 $3,065,000 $340,556 $5,392 4.01%
    39% 9 $2,955,000 $328,333 $3,533 4.36%
    44% 8 $2,760,000 $345,000 $3,604 4.28%
    41% 7 $2,955,000 $422,143 $5,418 4.54%
    40% 6 $2,070,000 $345,000 $3,759 4.75%
    42% 5 $1,695,000 $339,000 $3,341 4.28%
    37% 5 $2,415,000 $483,000 $4,472 4.63%
    45% 5 $1,215,000 $243,000 $3,916 4.43%
    47% 5 $1,935,000 $387,000 $3,796 4.52%
    48% 5 $1,475,000 $295,000 $4,752 4.18%
    46% 4 $1,400,000 $350,000 $3,748 4.15%
    43% 3 $705,000 $235,000 $3,644 4.67%
    >60% 1 $385,000 $385,000 $3,182 4.75%
    50-60% 1 $755,000 $755,000 $6,088 4.00%

    Fairfield County Bank lent most frequently to those with DTI ratios of 30-36%, with 64 originations. The next most common DTI ratio? 20-30%, with 56 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 22 $80,940,000 $3,679,091 $0 5.48%
    White 197 $80,015,000 $406,168 $4,108 4.31%
    Not provided 19 $7,435,000 $391,316 $4,591 4.60%
    Asian 17 $5,295,000 $311,471 $4,233 4.46%
    Black 2 $480,000 $240,000 $3,348 4.44%

    Approval Rates

    Total approvals of all applications
    89.84%

    Fairfield County Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.65%

    Fairfield County Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 257 $174,165,000 $677,685

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $65,580,000 $8,197,500
    Single Family (1-4 Units):Site-Built 249 $108,585,000 $436,084

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 26 $7,030,000 $270,385 $3,325 4.20%
    40-60% 25 $14,985,000 $599,400 $4,508 4.44%
    60-80% 127 $115,645,000 $910,591 $4,064 4.47%
    80-100% 75 $31,305,000 $417,400 $4,466 4.47%
    Over 100% 1 $4,805,000 $4,805,000 $0 4.75%
    Under 20% 3 $395,000 $131,667 $2,796 4.96%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Fairfield County Bank 1089 Madison Avenue Bridgeport, CT 6606 Full Service B&M $39,325
    Fairfield County Bank 114 Federal Road Danbury, CT 6811 Full Service B&M $47,125
    Fairfield County Bank 121 New Canaan Avenue Norwalk, CT 6850 Full Service B&M $36,962
    Fairfield County Bank 150 Danbury Road Ridgefield, CT 6877 Full Service B&M $237,735
    Fairfield County Bank 190 Old Ridgefield Road Wilton, CT 6897 Full Service B&M $55,560
    Fairfield County Bank 190 Weston Road Weston, CT 6883 Full Service B&M $43,359
    Fairfield County Bank 2 Mckinley Street Norwalk, CT 6853 Full Service B&M $74,699
    Fairfield County Bank 20 Compo Road South Westport, CT 6880 Full Service B&M $108,522
    Fairfield County Bank 2000 Post Road Suite 103 Fairfield, CT 6824 Full Service B&M $51,781
    Fairfield County Bank 255 Tunxis Hill Road Fairfield, CT 6825 Full Service B&M $91,766
    Fairfield County Bank 26 Chestnut Hill Road Norwalk, CT 6851 Full Service B&M $52,765
    Fairfield County Bank 374 Main St. Ridgefield, CT 6877 Full Service B&M $99,786
    Fairfield County Bank 69 Wall Street Norwalk, CT 6852 Full Service B&M $90,544
    Fairfield County Bank 714 Post Road Darien, CT 6820 Full Service B&M $69,342
    Fairfield County Bank 850 East Main Street Stamford, CT 6902 Full Service B&M $23,019
    Fairfield County Bank 941 Danbury Road Wilton, CT 6897 Full Service B&M $74,794

    For 2018, Fairfield County Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $58,463
    Net interest income $54,529
    Total noninterest income $16,797
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,106
    Trading account gains and fees $0
    Additional Noninterest Income $14,691
    Pre-tax net operating income $15,740
    Securities gains (or losses, -) $-38
    Income before extraordinary items $12,452
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,452
    Minority interest net income $0
    Net income $12,452
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $12,482

    Fairfield County Bank's gross interest income from loans was $58,463,000.
    Fairfield County Bank's net interest income from loans was $54,529,000.
    Fairfield County Bank's fee based income from loans was $2,106,000.
    Fairfield County Bank's net income from loans was $12,452,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,934
    Provision for credit losses $1,250
    Total noninterest expense $54,336
    Salaries and employee benefits $34,626
    Premises and equipment expense $8,251
    Additional noninterest expense $11,459
    Applicable income taxes $3,250
    Net charge-offs $1,940
    Cash dividends $0

    Fairfield County Bank's interest expense for loans was $3,934,000.
    Fairfield County Bank's payroll and benefits expense were $34,626,000.
    Fairfield County Bank's property, plant and equipment expenses $8,251,000.

    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 $1,172,945
    Deposits held in domestic offices $1,172,945
    Deposits by Individuals, partnerships, and corporations $1,116,604
    Deposits by U.S. Government $7
    Deposits by States and political subdivisions in the U.S. $56,334
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $116,798
    Demand deposits $52,382
    Nontransaction accounts $1,056,147
    Money market deposit accounts (MMDAs) $245,517
    Other savings deposits (excluding MMDAs) $685,160
    Total time deposits $125,471
    Total time and savings deposits $1,120,563
    Noninterest-bearing deposits $288,255
    Interest-bearing deposits $884,690
    Retail deposits $1,128,856
    IRAs and Keogh plan accounts $14,807
    Brokered deposits $5,557
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,486,214
    Cash & Balances due from depository institutions $21,461
    Interest-bearing balances $1,619
    Total securities $273,390
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,087,005
    Loan and leases loss allowance $11,572
    Trading account assets $0
    Bank premises and fixed assets $25,448
    Other real estate owned $933
    Goodwill and other intangibles $11,084
    All other assets $66,893

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,486,214
    Total Liabilities $1,286,895
    Total deposits $1,172,945
    Interest-bearing deposits $884,690
    Deposits held in domestic offices $1,172,945
    % insured (estimated) $64
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $82,207
    Subordinated debt $0
    All other liabilities $31,743

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,087,005
    Loan and leases loss allowance $11,572
    Total loans and leases (domestic) $1,098,577
    All real estate loans $953,733
    Real estate loans in domestic offices $953,733
    Construction and development loans $110,882
    Residential 1-4 family construction $64,563
    Other construction, all land development and other land $46,319
    Loans secured by nonfarm nonresidential properties $505,579
    Nonfarm nonresidential secured by owner-occupied properties $177,334
    Commercial real estate & other non-farm, non-residential $328,245
    Multifamily residential real estate $16,519
    1-4 family residential loans $320,753
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $138,925
    To non-U.S. addressees $0
    Loans to individuals $2,305
    Credit card loans $0
    Related Plans $382
    Consumer Auto Loans $0
    Other loans to individuals $1,923
    All other loans & leases $3,614
    Loans to foreign governments and official institutions $0
    Other loans $272
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,001
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $5,008
    Non 1-4 family restructured loans & leases $3,390
    Total loans and leases (foreign) $0

    Fairfield County Bank had $1,087,005,000 of loans outstanding in 2018. $953,733,000 of loans were in real estate loans. $110,882,000 of loans were in development loans. $16,519,000 of loans were in multifamily mortgage loans. $320,753,000 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 397 $122,008 $307,325
    Nonfarm, nonresidential loans - <$100k 17 $914 $53,765
    Nonfarm, nonresidential loans - $100-250k 109 $15,397 $141,257
    Nonfarm, nonresidential loans - $250k-1MM 271 $105,697 $390,026
    Commercial & Industrial, US addressed loans - <$1MM 972 $79,996 $82,300
    Commercial & Industrial, US addressed loans - <$100k 526 $9,508 $18,076
    Commercial & Industrial, US addressed loans - $100-250k 254 $25,875 $101,870
    Commercial & Industrial, US addressed loans - $250k-1MM 192 $44,613 $232,359