THE BOSTON FIVE REPORTS MORTGAGE PRODUCTION TOTALS
THE BOSTON FIVE REPORTS MORTGAGE PRODUCTION TOTALS BOSTON, Nov. 12 /PRNewswire/ -- The Boston Five Bancorp Inc.
(NASDAQ-NMS: BFCS), today reported that its subsidiary, The Boston Five Cents Savings Bank FSB, had residential mortgage production for the month and 12 months ending Oct. 31, 1992, totaling $153.0 million and $1,566.2 million respectively. For the comparable periods in 1991 The Boston Five originated residential mortgages totaling $99.1 million and $1,021.2 million, respectively.
During October, 1992, The Boston Five received residential mortgage applications totalling $167.8 million. This compares with applications totalling $179.8 million in October 1991. The Bank's experience has been that approximately 75 percent or mortgage applications subsequently become closed loan production. Established in 1825, The Boston Five is one of the largest savings banks headquartered in Massachusetts, with total assets of more than $1.7 billion. It services almost $3.8 billion in residential mortgages, of which more than $2.9 billion are serviced for investors. The Boston Five operates 15 loan offices in five New England states and conducts correspondent lending operations in 12 New England and Middle Atlantic states. -0- 11/12/92 /CONTACT: Lynn McLaughlin of The Boston Five, 617-742-6000 ext. 2106/ (BFCS) CO: The Boston Five ST: Massachusetts IN: FIN SU:
TM -- NE009 -- 0219 11/12/92 13:27 EST
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|Date:||Nov 12, 1992|
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