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 Refi 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 Hartford among others. We have data for 12 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% 12/16/24
    30 Year Conventional Refi 6.14% 12/16/24
    30 Year Cash-out Refi 6.63% 12/16/24
    15 Year Conventional Purchase 5.48% 12/16/24
    15 Year Conventional Refi 5.68% 12/16/24
    15 Year Cash-out Refi 5.68% 12/16/24
    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

    388

    Origination Dollar Volume (All Markets)

    $192,810,000

    Employee count

    275

    Awards

    Fairfield County Bank 30 Year Conventional Loans bronze Fairfield County Bank 30 Year Conventional Loans gold
    Show all (2) 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) 335 $164,825,000 $492,015 $4,309 3.81%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 13 $14,665,000 $1,128,077 $6,801 4.27%
    NEW HAVEN-MILFORD, CT (FHA|USDA|VA) 13 $4,555,000 $350,385 $3,980 3.58%
    Torrington, CT (FHA|USDA|VA) 12 $3,630,000 $302,500 $3,663 3.73%
    HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) 7 $2,915,000 $416,429 $4,331 3.93%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $760,000 $380,000 $4,489 3.44%
    JACKSONVILLE, FL (FHA|USDA|VA) 1 $425,000 $425,000 $4,480 2.99%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $295,000 $295,000 $2,779 3.38%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 1 $245,000 $245,000 $4,123 3.75%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $235,000 $235,000 $2,397 3.63%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $175,000 $175,000 $3,092 3.75%
    Gloversville, NY (FHA|USDA|VA) 1 $85,000 $85,000 $3,206 3.25%
    Fairfield County Bank's top markets include Bridgeport, New York, New Haven, Torrington, and Hartford among others.

    Their top states include:
  • Connecticut (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Massachusetts (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: 56
    The Torrington Savings Bank
    Similarity Rank: 70
    Schuyler Savings Bank
    Similarity Rank: 104
    POLISH NATIONAL
    Similarity Rank: 104
    Stafford Savings Bank
    Similarity Rank: 124
    Union County Savings Bank
    Similarity Rank: 150
    Collinsville Bank
    Similarity Rank: 156
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 192
    MUTUAL SECURITY CREDIT UNION
    Similarity Rank: 208
    Chelsea Groton Bank
    Similarity Rank: 210

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 382 $190,620,000 $499,005 $4,229 3.82%
    FHA 6 $2,190,000 $365,000 $10,500 3.40%

    For 2019, Fairfield County Bank's most frequently originated type of loan was Conventional, with 382 originations. Their 2nd most popular type was FHA, with 6 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 215 $107,955,000 $502,116 $4,756 3.92%
    Refi 118 $60,250,000 $510,593 $3,687 3.53%
    Cash Out Refi 41 $14,565,000 $355,244 $3,285 3.75%
    Home Improvement 10 $8,900,000 $890,000 $13,565 4.97%
    Other 4 $1,140,000 $285,000 $3,304 4.34%

    For 2019, Fairfield County Bank's most frequently cited loan purpose was Home Purchase, with 215 originations. The 2nd most popular reason was Refi, with 118 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 304 $138,250,000 $454,770 $4,482 3.75%
    15 Year 45 $14,385,000 $319,667 $3,540 3.30%
    Other 26 $34,850,000 $1,340,385 $3,724 5.42%
    20 Year 9 $4,085,000 $453,889 $3,610 3.43%
    10 Year 3 $845,000 $281,667 $3,642 3.50%
    1 Year 1 $395,000 $395,000 $0 7.25%

    For 2019, Fairfield County Bank's most frequently cited loan duration was 30 Year, with 304 originations. The 2nd most popular length was 15 Year, with 45 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 292 $118,590,000 $406,130
    $1k-2k 58 $26,790,000 $461,897
    $2k-3k 5 $2,945,000 $589,000
    $5k+ 4 $7,320,000 $1,830,000
    $3k-4k 3 $2,275,000 $758,333
    $4k-5k 1 $405,000 $405,000

    Fairfield County Bank's average total fees were $4,482, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 292 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 276 $123,560,000 $447,681
    4-5% 70 $39,880,000 $569,714
    2.5-3% 23 $7,735,000 $336,304
    5-6% 11 $7,965,000 $724,091
    6-7% 6 $12,070,000 $2,011,667
    7-8% 2 $1,600,000 $800,000

    During 2019, Fairfield County Bank's average interest rate for loans was 3.75%, while their most frequently originated rate bucket for loans was 3-4%, with 276 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 154 $46,070,000 $299,156 $3,717 3.67%
    $400k-600k 97 $46,695,000 $481,392 $4,528 3.68%
    $600k-1MM 51 $39,875,000 $781,863 $5,347 3.84%
    $100k-200k 47 $7,555,000 $160,745 $3,448 3.95%
    $1MM+ 30 $51,800,000 $1,726,667 $9,187 4.69%
    $100,000 or less 9 $815,000 $90,556 $3,180 3.82%

    2019 saw Fairfield County Bank place emphasis on $200k-400k loans with 154 originations, totaling $46,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 122 $52,450,000 $429,918 $4,284 3.69%
    $250k+ 91 $64,415,000 $707,857 $5,402 3.67%
    $100k-150k 75 $22,755,000 $303,400 $3,765 3.70%
    $50k-75k 35 $8,065,000 $230,429 $3,550 3.73%
    $75k-100k 32 $9,260,000 $289,375 $3,718 3.68%
    $50k or less 7 $1,215,000 $173,571 $4,298 3.57%

    Fairfield County Bank lent most frequently to those with incomes in the $150k-250k range, with 122 originations. The second most popular income band? $250k+, with 91 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 94 $42,740,000 $454,681 $4,352 3.66%
    30-36% 80 $38,050,000 $475,625 $4,739 3.68%
    <20% 39 $14,865,000 $381,154 $3,779 3.48%
    36% 20 $9,710,000 $485,500 $4,197 3.66%
    39% 17 $9,335,000 $549,118 $4,825 3.61%
    37% 15 $7,095,000 $473,000 $4,525 3.88%
    41% 14 $4,450,000 $317,857 $3,364 4.04%
    43% 14 $4,250,000 $303,571 $4,372 3.65%
    45% 13 $4,445,000 $341,923 $3,697 3.79%
    40% 11 $5,705,000 $518,636 $5,032 3.81%
    38% 10 $7,830,000 $783,000 $4,778 3.71%
    46% 7 $1,995,000 $285,000 $3,480 3.91%
    47% 7 $2,005,000 $286,429 $4,149 3.66%
    44% 6 $2,100,000 $350,000 $3,952 3.92%
    42% 6 $1,550,000 $258,333 $5,092 3.62%
    49% 5 $945,000 $189,000 $3,205 3.89%
    48% 5 $1,255,000 $251,000 $4,021 3.53%

    Fairfield County Bank lent most frequently to those with DTI ratios of 20-30%, with 94 originations. The next most common DTI ratio? 30-36%, with 80 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 270 $118,460,000 $438,741 $4,286 3.67%
    Not applicable 25 $34,485,000 $1,379,400 $0 5.66%
    Not provided 66 $29,890,000 $452,879 $4,643 3.66%
    Asian 21 $6,465,000 $307,857 $3,797 3.89%
    Black 2 $2,260,000 $1,130,000 $6,315 3.88%
    Chinese 1 $605,000 $605,000 $4,861 3.38%
    American Indian 1 $325,000 $325,000 $5,338 3.38%
    Other Pacific Islander 1 $185,000 $185,000 $3,211 4.63%
    Other Asian 1 $135,000 $135,000 $3,299 3.75%

    Approval Rates

    Total approvals of all applications
    89.51%

    Fairfield County Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.09%

    Fairfield County Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 388 $192,810,000 $496,933

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $15,275,000 $1,697,222
    Single Family (1-4 Units):Site-Built 379 $177,535,000 $468,430

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 28 $8,850,000 $316,071 $3,396 3.56%
    40-60% 69 $32,855,000 $476,159 $3,966 3.70%
    60-80% 197 $104,055,000 $528,198 $4,310 3.91%
    80-100% 92 $44,680,000 $485,652 $4,948 3.76%
    Over 100% 1 $2,165,000 $2,165,000 $0 3.90%
    Under 20% 1 $205,000 $205,000 $3,010 3.38%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Fairfield County Bank 1089 Madison Avenue Bridgeport, CT 6606 Full Service B&M $36,594
    Fairfield County Bank 114 Federal Road Danbury, CT 6811 Full Service B&M $46,130
    Fairfield County Bank 121 New Canaan Avenue Norwalk, CT 6850 Full Service B&M $41,889
    Fairfield County Bank 150 Danbury Road Ridgefield, CT 6877 Full Service B&M $285,875
    Fairfield County Bank 190 Old Ridgefield Road Wilton, CT 6897 Full Service B&M $50,622
    Fairfield County Bank 190 Weston Road Weston, CT 6883 Full Service B&M $39,914
    Fairfield County Bank 2 Mckinley Street Norwalk, CT 6853 Full Service B&M $78,620
    Fairfield County Bank 20 Compo Road South Westport, CT 6880 Full Service B&M $112,990
    Fairfield County Bank 2000 Post Road Suite 103 Fairfield, CT 6824 Full Service B&M $51,837
    Fairfield County Bank 255 Tunxis Hill Road Fairfield, CT 6825 Full Service B&M $100,740
    Fairfield County Bank 26 Chestnut Hill Road Norwalk, CT 6851 Full Service B&M $51,362
    Fairfield County Bank 374 Main St. Ridgefield, CT 6877 Full Service B&M $92,112
    Fairfield County Bank 69 Wall Street Norwalk, CT 6852 Full Service B&M $98,587
    Fairfield County Bank 714 Post Road Darien, CT 6820 Full Service B&M $71,753
    Fairfield County Bank 850 East Main Street Stamford, CT 6902 Full Service B&M $21,608
    Fairfield County Bank 941 Danbury Road Wilton, CT 6897 Full Service B&M $78,037

    For 2019, Fairfield County Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $60,893
    Net interest income $52,999
    Total noninterest income $15,820
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,192
    Trading account gains and fees $0
    Additional Noninterest Income $13,628
    Pre-tax net operating income $12,449
    Securities gains (or losses, -) $862
    Income before extraordinary items $10,354
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,354
    Minority interest net income $0
    Net income $10,354
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $9,673

    Fairfield County Bank's gross interest income from loans was $60,893,000.
    Fairfield County Bank's net interest income from loans was $52,999,000.
    Fairfield County Bank's fee based income from loans was $2,192,000.
    Fairfield County Bank's net income from loans was $10,354,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $7,894
    Provision for credit losses $1,553
    Total noninterest expense $54,817
    Salaries and employee benefits $34,872
    Premises and equipment expense $8,276
    Additional noninterest expense $11,669
    Applicable income taxes $2,957
    Net charge-offs $1,594
    Cash dividends $0

    Fairfield County Bank's interest expense for loans was $7,894,000.
    Fairfield County Bank's payroll and benefits expense were $34,872,000.
    Fairfield County Bank's property, plant and equipment expenses $8,276,000.

    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 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    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 $1,155,997
    Deposits held in domestic offices $1,155,997
    Deposits by Individuals, partnerships, and corporations $1,092,775
    Deposits by U.S. Government $2
    Deposits by States and political subdivisions in the U.S. $63,081
    Deposits by Commercial banks and other depository institutions in U.S. $139
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $119,028
    Demand deposits $52,952
    Nontransaction accounts $1,036,969
    Money market deposit accounts (MMDAs) $234,018
    Other savings deposits (excluding MMDAs) $650,881
    Total time deposits $152,070
    Total time and savings deposits $1,103,045
    Noninterest-bearing deposits $263,940
    Interest-bearing deposits $892,057
    Retail deposits $1,087,921
    IRAs and Keogh plan accounts $12,880
    Brokered deposits $26,020
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,563,031
    Cash & Balances due from depository institutions $18,106
    Interest-bearing balances $1,053
    Total securities $310,765
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,127,181
    Loan and leases loss allowance $11,531
    Trading account assets $0
    Bank premises and fixed assets $27,091
    Other real estate owned $1,606
    Goodwill and other intangibles $10,962
    All other assets $67,320

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,563,031
    Total Liabilities $1,347,322
    Total deposits $1,155,997
    Interest-bearing deposits $892,057
    Deposits held in domestic offices $1,155,997
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $155,221
    Subordinated debt $0
    All other liabilities $36,104

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,127,181
    Loan and leases loss allowance $11,531
    Total loans and leases (domestic) $1,138,712
    All real estate loans $1,003,651
    Real estate loans in domestic offices $1,003,651
    Construction and development loans $125,824
    Residential 1-4 family construction $61,567
    Other construction, all land development and other land $64,257
    Loans secured by nonfarm nonresidential properties $519,134
    Nonfarm nonresidential secured by owner-occupied properties $178,045
    Commercial real estate & other non-farm, non-residential $341,089
    Multifamily residential real estate $16,754
    1-4 family residential loans $341,939
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $129,941
    To non-U.S. addressees $0
    Loans to individuals $1,662
    Credit card loans $0
    Related Plans $150
    Consumer Auto Loans $0
    Other loans to individuals $1,512
    All other loans & leases $3,458
    Loans to foreign governments and official institutions $0
    Other loans $244
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,552
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $8,764
    Non 1-4 family restructured loans & leases $5,794
    Total loans and leases (foreign) $0

    Fairfield County Bank had $1,127,181,000 of loans outstanding in 2019. $1,003,651,000 of loans were in real estate loans. $125,824,000 of loans were in development loans. $16,754,000 of loans were in multifamily mortgage loans. $341,939,000 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 415 $121,622 $293,065
    Nonfarm, nonresidential loans - <$100k 35 $1,010 $28,857
    Nonfarm, nonresidential loans - $100-250k 111 $14,443 $130,117
    Nonfarm, nonresidential loans - $250k-1MM 269 $106,169 $394,680
    Commercial & Industrial, US addressed loans - <$1MM 1,497 $72,381 $48,351
    Commercial & Industrial, US addressed loans - <$100k 1,027 $10,003 $9,740
    Commercial & Industrial, US addressed loans - $100-250k 270 $25,506 $94,467
    Commercial & Industrial, US addressed loans - $250k-1MM 200 $36,872 $184,360