THE BOSTON FIVE REPORTS MORTGAGE PRODUCTION TOTALS
THE BOSTON FIVE REPORTS MORTGAGE PRODUCTION TOTALS BOSTON, March 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 and four months ending Feb. 29, 1992 totalling $130.2 million and $471.5 million, respectively. For the comparable periods in 1991 The Boston Five originated residential mortgages totalling $49.3 million and $235.5 million, respectively.
During February 1992, The Boston Five received residential mortgage applications totalling $190.5 million. This compares with applications totalling $105.9 million in February 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 one of the largest savings banks headquarted 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- 3/16/92 /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 ST: Massachusetts IN: FIN SU:
EG-TM -- NE012 -- 8248 03/16/92 11:09 EST
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|Date:||Mar 16, 1992|
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