THE BOSTON FIVE REPORTS MORTGAGE PRODUCTION TOTALS
THE BOSTON FIVE REPORTS MORTGAGE PRODUCTION TOTALS BOSTON, Feb. 13 /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 and three months ending Jan. 31, 1992, totalling $131.9 million and $341.2 million, respectively. For the comparable periods in 1991 The Boston Five originated residential mortgages totalling $55 million and $186.2 million, respectively.
During January 1992, The Boston Five received residential mortgage applications totalling $291.5 million. This compares with applications totalling $79.9 million in January 1991. 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- 2/13/92 /CONTACT: Anne Roque or Lynn McLaughlin of The Boston Five, 617-742-6000/ CO: The Boston Five ST: Massachusetts IN: FIN SU:
TM-SH -- NE007 -- 9863 02/13/92 15:20 EST
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|Date:||Feb 13, 1992|
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