Banker & Tradesman's Fast 50

Fast50

 


 

Purchase, Refi Activity Boost Loan Portfolios In First Half Of 2016

 

Growth In Commercial Space Supported By Mid-Range Purchases Beyond Greater Boston

By Laura Alix

Banker & Tradesman Staff

In an ultra-prolonged, ultra-low interest rate environment, some Massachusetts financial institutions are still beefing up their loan portfolios.

The Fast 50, compiled from data collected by The Warren Group, publisher of Banker & Tradesman, reveals the 50 fastest growing lenders in Massachusetts for the first six months of the year, compared with the year-ago period.

And while larger financial institutions may be originating greater volumes of loans, smaller community banks and credit unions saw some of the greatest year-over-year increases in this year’s list. Mansfield Bank, for instance, increased its residential lending volume by 129 percent year-over-year to $42.8 million.

Or consider Tremont Credit Union, which increased its residential loan volume 218 percent this year, to $13.2 million from $4.2 million last year.

Michael Lemelin, the credit union’s senior vice president of lending, said that the organization had revamped its entire mortgage portfolio and benefitted from decent purchase activity and refinance activity.

Mortgage companies made out well, too. Cross Country Mortgage Inc. dominated the list, with 456 residential loans totaling $144.8 million this year, compared with 36 loans totaling $9.8 million last year. That’s a whopping 1,377 percent increase in volume.

Community banks benefitted greatly where commercial lending was concerned in this year’s Fast 50. That may be due in part to increasing regulatory focus on commercial real estate concentration, motivating larger institutions to not add on loans as quickly as they did in recent years. Or it may simply be that demand at the high end of the market is cooling off. Whatever the case, smaller institutions began to bulk up this year.

For instance, Pentucket Bank took the top spot in commercial lending by volume of loans, making commercial real estate mortgages totaling $26.9 million this year, compared with $1.6 million in the first half of 2015. By number of loans, Greenfield Cooperative Bank dominated the list, making 34 commercial real estate loans this year, compared with 11 this year, totaling $9.1 million and $1.9 million, respectively.

Charles Walker, president of Pentucket Bank, said the bank booked a couple of large deals earlier this year, which helped boost its commercial volume, and also benefitted from modest improvements in the local economy. He added that Pentucket Bank was holding pricing and credit quality standards steady and had added one new commercial lender in Massachusetts.

HarborOne Bank also added new commercial lenders and credit support staff to help augment its growth, said Scott Sanborn, senior vice president of commercial lending. The bank made 30 commercial real estate loans totaling $59.5 million in the first half of 2016, compared with 13 loans totaling $35.4 million, earning it a place among this year’s Fast 50.

“I’d say within Massachusetts, we’ve found a lot of opportunities outside of Greater Boston; between 128 out to 495, we’ve found that market to be busier,” he told Banker & Tradesman. “I would say there’s certainly a lot more purchase activity than refinance activity. Investors have been active, but certainly the activity has remained strong and we’ve seen more purchase transaction opportunities and properties changing hands.”

Email: lalix@thewarrengroup.com

 

Residential: Volume of Loans

Cross Country Mortgage Inc.

2015: $9,798,953                    2016: $144,768,487       % Change: 1377%


Home Point Financial Corp.

2015: $24,627,191                  2016: $119,349,821        % Change: 385%


Pennymac Loan Services LLC

2015: $8,168,196                    2016: $34,133,745        % Change: 318%


Tremont Credit Union

2015: $4,156,500                   2016: $13,226,700        % Change: 218%


Eagle Bank

2015: $23,883,808               2016: $75,765,791          % Change: 217%


American Financial Resources

2015: $11,476,857                2016: $33,229,171           % Change: 190%


Westfield Bank

2015: $6,951,118                  2016: $17,048,903          % Change: 145%


River Works Credit Union

2015: $9,679,434                2016: $23,735,583           % Change: 145%


Endeavor Capital LLC

2015: $23,257,150              2016: $55,516,696            % Change: 139%


Mansfield Cooperative Bank

2015: $18,646,390             2016: $42,782,400           % Change: 129%


Envoy Mortgage LTD

2015: $19,764,840             2016: $45,002,621            % Change: 128%


Middlesex Federal Savings and Loan Association

2015: $13,551,060             2016: $27,751,100              % Change: 105%


New Day Financial LLC

2015: $10,192,293            2016: $20,384,359             % Change: 100%


Blue Hills Bank

2015: $127,193,638          2016: $239,438,258           % Change:88%


Reverse Mortgage Funding LLC

2015:  $23,673,750           2016:  $44,258,925            % Change: 87%


Foxboro Federal Savings & Loan Association

2015:  $8,188,450             2016:  $15,263,185              % Change: 86%


First Ipswich Bank

2015: $12,994,020            2016:  $24,001,576             % Change: 85%


United Shore Financial Services LLC

2015: $153,937,950          2016: $271,840,312             % Change: 77%


Braintree Cooperative Bank

2015: $12,472,666            2016: $21,953,250                % Change: 76%


Bank of New York Mellon

2015: $70,698,497           2016: $122,229,081               % Change: 73%


Security First Mortgage Funding

2015: $9,541,327              2016: $16,304,803                % Change: 71%


Provident Funding Associates

2015: $59,010,400           2016: $100,623,800             % Change: 71%


Mechanics Cooperative Bank

2015: $16,261,220            2016: $27,552,228                 % Change: 69%


Homefield Credit Union

2015: $9,284,700            2016: $15,437,510                   % Change: 66%


Hometown Bank

2015: $30,474,937          2016: $50,251,396                  % Change: 65%


City Of Boston Credit Union

2015: $17,532,950           2016: $28,453,144                 % Change: 62%


Rollstone Bank & Trust

2015: $14,200,990          2016: $22,261,444                 % Change: 57%


Wintrust Mortgage Corp.

2015: $23,337,203           2016: $36,575,415                  % Change: 57%


Allied Mortgage Group

2015: $7,547,422              2016: $11,823,182                  % Change: 57%


Seamens Savings Bank

2015: $11,892,65             2016: $18,625,660                 % Increase 57%


New England Regional Mortgage Corp.

2015: $10,259,544          2016: $15,971,764                   % Change: 56%


Family Federal Savings & Loan Association

2015: $11,268,421           2016: $17,379,222                  % Change: 54%


Homestead Funding Corp.

2015: $13,122,712            2016: $20,112,141                 % Change: 53%


Savers Cooperative Bank

2015: $19,742,750          2016: $29,948,267               % Change: 52%


TIAA CREF Trust Co. FSB

2015: $9,483,358          2016: $14,370,656                % Change: 52%


Rockland Trust Co.

2015: $339,102,584      2016: $513,103,208             % Change: 51%


Milford National Bank and Trust Co.

2015: $12,247,800        2016:  $18,427,571                % Change: 51%


Academy Mortgage Corp.

2015: $47,303,466      2016:  $71,015,332                 % Change: 50%


Bridgewater Savings Bank

2015: $46,900,755     2016: $69,765,241                  % Change: 49%


Neighborhood Assistance Corp. of America

2015: $17,784,403    2016: $26,286,572                   % Change: 48%


First Home Mortgage

2015: $60,074,475   2016: $87,855,999                    % Change: 46%


TD Bank NA

2015: $261,819,084  2016: $380,482,558                % Change: 45%


Melrose Cooperative Bank

2015: $15,281,750     2016: $21,963,082                  % Change:  44%


National Bank of Kansas

2015: $11,802,957     2016:$16,870,913                    % Change: 43%


Community Credit Union Lynn

2015: $10,429,270      2016: $14,658,669                 % Change: 41%


GMH Mortgage Services LLC

2015: $49,145,432       2016: $69,036,174                 % Change: 41%


Spencer Savings Bank

2015: $21,272,155        2016: $29,876,292                % Change: 40%


Peoples United Bank

2015: $71,100,982       2016: $99,592,153                 % Change: 40%


Semper Home Loans

2015: $9,774,526         2016: $13,613,766                 % Change: 39%


East Cambridge Savings Bank

2015: $68,021,523       2016: $94,559,352                % Change:39%


Residential: Number of Loans

Cross Country Mortgage Inc.

2015: 36     2016: 456     % Change: 1167%


Pennymac Loan Services LLC

2015: 29     2016: 122     % Change: 321%


Home Point Financial Corp.

2015: 94     2016: 387     % Change: 312%


Commerce Bank & Trust Co.

2015: 28     2016: 73     % Change: 161%


Tremont Credit Union

2015: 37     2016: 96     % Change: 160%


American Financial Resources

2015: 50     2016: 125     % Change: 150%


Envoy Mortgage LTD

2015: 81     2016: 160     % Change: 98%


Mansfield Cooperative Bank

2015: 75     2016: 142     % Change: 89%


New Day Financial LLC

2015: 36     2016: 67     % Change: 86%


United Shore Financial Services LLC

2015: 500     2016: 906     % Change: 81%


Westfield Bank

2015: 90     2016: 154     % Change: 71%


River Works Credit Union

2015: 57     2016: 97     % Change: 70%


Security First Mortgage Funding

2015: 42     2016: 70     % Change: 67%


Seamens Savings Bank

2015: 46     2016: 76     % Change: 65%


Rockland Trust Co.

2015: 1,466     2016: 2,418     % Change: 65%


Allied Mortgage Group

2015: 28     2016: 46     % Change: 64%


Provident Funding Associates

2015: 199     2016: 323     % Change: 62%


Braintree Cooperative Bank

2015: 60     2016: 94     % Change: 57%


Bridgewater Credit Union

2015: 62     2016: 97     % Change: 57%


Reverse Mortgage Funding LLC

2015: 48     2016: 75     % Change: 56%


Shrewsbury Municiple Employee Federal Credit Union

2015: 51     2016: 79     % Change: 55%


New England Regional Mortgage Corp.

2015: 39     2016: 60     % Change: 54%


Wintrust Mortgage Corp.

2015: 65     2016: 98     % Change: 51%


Bristol County Savings Bank

2015: 200     2016: 300     % Change: 50%


Digital Federal Credit Union

2015: 1,079     2016: 1,617     % Change: 50%


New Bedford Credit Union

2015: 27     2016: 40     % Change: 48%


Homefield Credit Union

2015: 61     2016: 90     % Change: 48%


Middlesex Federal Savings and Loan Association

2015: 38     2016: 56     % Change: 47%


Blue Hills Bank

2015: 377     2016: 553     % Change: 47%


Milford National Bank and Trust Co.

2015: 43     2016: 62     % Change: 44%


Pawtucket Credit Union

2015: 98     2016: 141     % Change: 44%


Fall River Five Cents Savings Bank

2015: 104     2016: 149     % Change: 43%


First Ipswich Bank

2015: 51     2016: 73     % Change: 43%


Mechanics Cooperative Bank

2015: 80     2016: 114     % Change: 43%


First Home Mortgage

2015: 215     2016: 306     % Change 42%


Luso Federal Credit Union

2015: 121     2016: 170     % Change 41%


Flagstar Bank FSB

2015: 97     2016: 136     % Change 40%


Clinton Savings Bank

2015: 127     2016: 178     % Change 40%


Bridgewater Savings Bank

2015: 191     2016: 266     % Change 39%


Federal Savings Bank

2015: 67     2016: 93     % Change 39%


Fall River Municipal Employees Credit Union

2015: 40     2016: 55     % Change 38%


Semper Home Loans

2015: 41     2016: 56     % Change 37%


City Of Boston Credit Union

2015: 107     2016: 146     % Change36%


Neighborhood Assistance Corp. of America

2015: 69     2016: 94     % Change36%


GMH Mortgage Services LLC

2015: 159     2016: 216     % Change 36%


InterContinental Capital Group Inc.

2015: 29     2016: 39     % Change 35%


American Internet Mortgage

2015: 39     2016: 52     % Change 33%


Brookline Bank

2015: 328     2016: 437     % Change 33%


Fairway Independent Mortgage

2015: 1,355     2016: 1,803     % Change 33%


Eagle Bank

2015: 70     2016: 93    % Change 33%


Commercial: Volume of Loans

Pentucket Bank

2015: $1,593,000      2016: $26,927,000      % Change: 1590%


Freedom Credit Union

2015: $1,478,040      2016: $8,061,850        % Change: 445%


Greenfield Cooperative Bank

2015: $1,978,600      2016: $9,114,338        % Change: 361%


St. Anne’s Credit Union

2015: $6,051,410      2016: $27,735,427      % Change: 358%


Bay State Savings Bank

2015: $2,543,750      2016: $11,535,666      % Change: 354%


Milford National Bank and Trust Co.

2015: $4,562,501      2016: $18,674,500     % Change: 309%


Bridgewater Savings Bank

2015: $4,371,984      2016: $16,438,449     % Change: 276%


Mansfield Cooperative Bank

2015: $5,411,380      2016: $20,339,500    % Change: 276%


Endeavor Capital LLC

2015: $3,750,600     2016: $13,495,814     % Change: 260%


Cambridge Savings Bank

2015: $39,173,000      2016: $140,540,014   % Change: 259%


Fidelity Cooperative Bank

2015: $4,281,425        2016: $15,310,108      % Change258%


Cape Ann Savings Bank

2015: $4,281,425        2016: $17,611,500      % Change248%


Dean Cooperative Bank

2015: $895,000          2016: $3,048,964       % Change241%


First Commons Bank

2015: $10,536,555      2016: $31,960,781      % Change203%


Stoneham Cooperative Bank

2015: $6,593,125        2016: $19,094,800     % Change190%


Millbury Savings Bank

2015: $4,233,841        2016: $11,536,300       % Change173%


Rollstone Bank & Trust

2015: $12,000,703     2016: $32,245,416       % Change169%


Rollstone Bank & Trust

2015: $12,000,703     2016: $32,245,416       % Change169%


Savers Cooperative Bank

2015: $4,021,000       2016: $10,594,100       % Change164%


Charles River Bank

2015: $3,037,600      2016: $8,004,366         % Change164%


Hometown Bank

2015: $11,726,036     2016: $29,192,546        % Change149%


Institution for Savings Newburyport

2015: $19,917,875      2016: $47,047,501        % Change136%


Newburyport Five Cents Savings Bank

2015: $4,791,500       2016: $11,265,420        % Change135%


Middlesex Federal Savings and Loan Association

2015: $7,788,250       2016: $17,106,000       % Change120%


MutualOne Bank

2015: $25,358,375     2016: $55,275,388      % Change118%


Radius Bank

2015: $7,224,800      2016: $14,300,250      % Change98%


Pilgrim Cooperative Bank

2015: $10,965,500    2016: $21,357,500      % Change95%


Mutual Bank

2015: $8,460,750     2016: $16,365,325      % Change93%


Citicorp Mortgage Inc.

2015: $30,004,951   2016: $57,286,222     % Change91%


Westfield Bank

2015: $13,921,800   2016: $26,382,243     % Change90%


Northern Bank & Trust

2015: $51,893,258   2016: $97,893,310     % Change89%


Metro Credit Union

2015: $7,947,837     2016: $14,850,200     % Change87%


Spencer Savings Bank

2015: $11,245,000   2016: $19,323,250     % Change72%


Washington Savings Bank

2015: $3,265,750    2016: $5,607,000      % Change72%


Winter Hill Federal Savings Bank

2015: $5,113,150     2016: $8,716,500      % Change71%


HarborOne Bank

2015: $35,377,700   2016: $59,451,500   % Change68%


Northmark Bank

2015: $5,303,000    2016: $8,730,000    % Change65%


Adams Community Bank

2015: $3,136,891     2016: $5,105,700     % Change63%


Rockland Trust Co.

2015: $125,659,802    2016: $199,190,351    % Change59%


Farm Credit East ACA

2015: $4,683,000       2016: $7,384,905       % Change58%


Bristol County Savings Bank

2015: $24,873,750      2016: $39,072,540     % Change57%


Bay Colony Development Corp.

2015: $12,858,000     2016: $18,687,570      % Change45%


Edgartown National Bank

2015: $3,286,436       2016: $4,734,000       % Change44%


Mechanics Cooperative Bank

2015: $8,482,850      2016: $12,168,820      % Change44%


East Boston Savings Bank

2015: $119,176,228    2016: $166,160,507     % Change39%


Eastern Bank

2015: $173,843,277    2016: $241,280,239    % Change39%


Granite State Economic Development Corp.

2015: $14,996,001     2016: $20,691,002     % Change38%


North Brookfield Savings Bank

2015: $6,311,350       2016: $8,695,140       % Change38%


Dedham Institution for Savings

2015: $26,186,725     2016: $36,021,250    % Change38%


Seamens Savings Bank

2015: $6,030,250      2016: $8,110,750       % Change35%


JP Morgan Chase Bank

2015: $40,094,132    2016: $53,205,583    % Change33%


Commercial: Number of Loans

Greenfield Cooperative Bank

2015: 11     2016: 34     % Change: 209%


Farm Credit East ACA

2015: 5     2016: 14     % Change: 180%


Mechanics Cooperative Bank

2015: 15     2016: 40     % Change: 167%


Millbury Savings Bank

2015: 8     2016: 21     % Change: 163%


Milford National Bank and Trust Co.

2015: 9     2016: 23     % Change: 156%


Rollstone Bank & Trust

2015: 9     2016: 22     % Change: 144%


Bay State Savings Bank

2015: 7     2016: 17     % Change: 143%


HarborOne Bank

2015: 13     2016: 30     % Change: 131%


Stoneham Cooperative Bank

2015: 10     2016: 21     % Change: 110%


Savers Cooperative Bank

2015: 7     2016: 14     % Change: 100%


Pentucket Bank

2015: 6     2016: 12     % Change: 100%


Cambridge Savings Bank

2015: 20     2016: 39     % Change: 95%


Cape Ann Savings Bank

2015: 18     2016: 33     % Change: 83%


Dean Cooperative Bank

2015: 5     2016: 9     % Change: 80%


Endeavor Capital LLC

2015: 8     2016: 14     % Change: 75%


Northern Bank & Trust

2015: 33     2016: 54     % Change: 64%


MutualOne Bank

2015: 21     2016: 34     % Change: 62%


North Easton Savings Bank

2015: 7     2016: 11    % Change: 57%


Mansfield Cooperative Bank

2015: 7     2016: 11    % Change: 57%


Colonial Federal Savings Bank-Quincy

2015: 6    2016: 9    % Change: 50%


Mutual Bank

2015: 15    2016: 22    % Change: 47%


Institution for Savings Newburyport

2015: 26    2016: 38    % Change: 46%


Greylock Federal Credit Union

2015: 11    2016: 16    % Change: 46%


Massachusetts Housing Partnership Fund

2015: 7    2016: 10    % Change: 43%


Bridgewater Savings Bank

2015: 14    2016: 20    % Change: 43%


North Middlesex Savings Bank

2015: 15    2016: 21    % Change: 40%


First Commons Bank

2015: 10    2016: 14    % Change: 40%


Freedom Credit Union

2015: 8    2016: 11    % Change: 38%


Leader Bank NA

2015: 45    2016: 61    % Change: 36%


Easthampton Savings Bank

2015: 17    2016: 23    % Change: 35%


Westfield Bank

2015: 18    2016: 24    % Change: 33%


Middlesex Federal Savings and Loan Association

2015: 9    2016: 12    % Change: 33%


First Republic Bank

2015: 18    2016: 24    % Change: 33%


Farmington Bank

2015: 6    2016: 8    % Change: 33%


Eagle Bank

2015: 9    2016: 12    % Change: 33%


Charles River Bank

2015: 9    2016: 12    % Change: 33%


Dedham Institution for Savings

2015: 19    2016: 25    % Change: 32%


Citicorp Mortgage Inc.

2015: 16    2016: 21    % Change: 31%


North Shore Bank

2015: 29    2016: 38    % Change: 31%


Salem Five Mortgage Co.

2015: 55    2016: 72    % Change: 31%


Winter Hill Federal Savings Bank

2015: 10    2016: 13    % Change: 30%


Santander Bank NA

2015: 62    2016: 80    % Change: 29%


Bay Colony Development Corp.

2015: 28    2016: 36    % Change: 29%


St. Anne’s Credit Union

2015: 18    2016: 23    % Change: 28%


East Boston Savings Bank

2015: 72    2016: 89    % Change: 24%


Martha Vineyard Saving Bank

2015: 18    2016: 22    % Change: 22%


LoanDepot.Com LLC

2015: 14    2016: 17    % Change: 21%


Lee Bank

2015: 14    2016: 17    % Change: 21%


South Shore Bank

2015: 29    2016: 35    % Change: 21%


Seamens Savings Bank

2015: 16    2016: 19    % Change: 19%