THE BOSTON FIVE REPORTS MORTGAGE PRODUCTION TOTALS
THE BOSTON FIVE REPORTS MORTGAGE PRODUCTION TOTALS BOSTON, Dec. 16 /PRNewswire/ -- The Boston Five Bancorp Inc.
(NASDAQ: BFCS), today reported that its subsidiary, The Boston Five Cents Savings Bank FSB, had residential mortgage production for the month ending Nov. 30, 1991, totaling $96.7 million. For the comparable period in 1990, The Boston Five originated residential mortgages totaling $66.4 million.
During November 1991, The Boston Five received residential mortgage applications totaling $160.7 million. This compares with applications totaling $78.0 million in November 1990. The bank's experience has been that approximately 75 percent of mortgage applications subsequently become closed loan production. Established in 1825, The Boston Five is the largest savings bank headquartered in Massachusetts, with total assets of $1.9 billion. It services approximately $2.4 billion in mortgage loans for investors. The Boston Five operates 15 loan offices in five New England states and 25 full-service offices in eastern Massachusetts. -0- 12/16/91 /CONTACT: Anne Roque, 617-742-6000, ext. 2143, or Lynn McLaughlin, 617-742-6000, ext. 2106, of The Boston Five/ (BFCS) CO: The Boston Five Bancorp Inc. ST: Massachusetts IN: FIN SU:
SH -- NE005 -- 2441 12/16/91 10:56 EST
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|Date:||Dec 16, 1991|
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