Vol.42, No.27
www.thewarrengroup.com
W E E K O F M O N D A Y, J U LY 6 , 2 0 2 0
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
D I G I TA L T R A N S F O R M AT I O N
Eastern Conversion Could Echo Through Industry
Sunapee 100 GARNET HILL RD. . . . . . . . . . . . . . . . . . . . . . . . . $4,700,000 B: Joseph E Killory & Andrea C Killory S: Scott W Griffith & Loredana P Griffith
Rye 5 HEATHER RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,600,000 B: Matthew Cassano Tr, Tr for 5 Heather Drive RET S: Salvatore C Calvino & Karen A Calvino Mtg: Huntington Natl Bank $3,450,000 Use: 4 Bdrm Contemporary, Lot: 47916sf
Mutual Banks Could Find Opportunity BY DIANE MCLAUGHLIN REGISTRY REVIEW STAFF
New Castle
W
hen Eastern Bank completes its planned initial public offering later this year, it will go from being the country’s oldest and largest mutual bank to a
LITTLE HARBOR RD . . . . . . . . . . . . . . . . . . . . . . . . . . $3,600,000 B: Pauline G Elkin Tr, Tr for Pauline G Elkin T S: Mary S Leahy Tr, Tr for M Randall Elkin IRT
Amherst 2 FAIR OAKS DR. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,500,000 B: Darren L Hobgood & Trudy Hobgood S: Richard Spencer & Anne Spencer Mtg: Unify Fncl CU $1,050,000 Use: 5 Bdrm Colonial, Lot: 271814sf
stock bank. And this transformation will affect more than the place the Boston-based bank, which entered the New Hampshire market in 2014 when it bought Centrix Bank & Trust, holds in in the banking landscape. It could reverberate throughout the state’s banking industry. With Eastern Bank planning to use some of the capital raised from the public offering on technology, community banks could face even more pressure to keep up, particularly as the pandemic has accelerated customers’ adoption of digital banking. Because Eastern also plans to look for mergers and acquisitions, some banks could decide to put themselves up for sale. As the coming years likely see more acquisitions and a changing banking landscape, another possibility looms – that Eastern could decide to sell itself. All this potential consolidation could leave a void in communities still accustomed to the bank’s presence, a void the remaining mutual
Gilford 87 HARRIS SHORE RD. . . . . . . . . . . . . . . . . . . . . . . . .$1,430,000 B: Angsana LLC S: Leo P Mcgrath Tr, Tr for Leo P&M T Mcgrath RET
Rye 400 BRACKETT RD. . . . . . . . . . . . . . . . . . . . . . . . . . . $1,400,000 B: Amparito Smith Tr, Tr for Tamayo Smith Separate PT S: Elizabeth S Billingham
Moultonboro 60/62/64 WHITTIER HWY. . . . . . . . . . . . . . . . . . . . . . $1,350,000 B: Harbor 1 LLC S: Threekph LLC Mtg: Sterling Natl Bk $1,890,000 68/70/72 WHITTIER HWY. . . . . . . . . . . . . . . . . . . . . . $1,350,000 B: Harbor 1 LLC S: Threekph LLC
Laconia 472 SHORE DR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,330,000 B: Ann Ouellette-Wehr Tr, Tr for Ann Ouellette Wehr RET S: Ryan P Day & Christina O Day Use: 5 Bdrm Contemporary, Lot: 47916sf
Amherst 141 AMHERST ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,250,000 B: Carolyn Davidson & Jeffrey Davidson S: William H Dunlap & Susan Y Dunlap Mtg: Title Mtg Solution $1,125,000 Use: 4 Bdrm Colonial, Lot: 517057sf
Technology Push Planned Eastern had total assets of $12.34 billion as of March 31, deposits of $10.3 billion and net loans of about $9 billion. Year-to-date net income through March 31 was $8.64 million, and $135.43 million for all of 2019. The portfolio includes $6.4 billion in commercial loans and $2.5 billion, in residential, according to a filing with the Securities and Ex-
T
$1,500 1500
800
Both
INDEX
Refinance
$1,200 1200
600 400
REAL ESTATE RECORDS 0
Feb Mar Apr May Jun Jul Aug Sep Oct 3 Belknap �������������������������� 06/23/20 4 Carroll ���������������������������� 06/23/20 5 Cheshire ������������������������ 06/23/20 5 Coos �������������������������������� 06/23/20 6 Grafton ���������������������������� 06/23/20 7 Hillsborough ������������������ 06/23/20 9 Merrimack ���������������������� 06/23/20 10 Rockingham ������������������ 06/23/20 13 Strafford ������������������������ 06/23/20 14 Sullivan �������������������������� 06/23/20 14 Bankruptcies 14 Lien & Attachments 14 Foreclosure, Mortgagee & Other Lien Auctions 14 Requests for Bids & Proposals
$600 600
Nov Dec. Jan Feb
$300 300 $0 0
Month
Purchase
Refinance
Both
Both
May 2016
$266
$364
$630
1600 $1,600
May 2017 Purchase
$339
1200 $1,200
May 2018
$340
$282
$622
800 $800
May 2019
$373
$350
$723
May 2020
$264
$983 $1,247
Both
2000 $2,000
250
125
Feb. 15
’20
2400 $2,400
375
Feb. 14
May June Jun. July Jul. Aug Aug. Sept. Oct. Nov Nov. Dec Dec. Jan Jan. Feb Feb. Mar Mar. Apr Apr. May May May Sep Oct ’19
500
0
Purchase
$900 900
TRANSACTIONS THRU
Feb. 16
Feb. 17
Refinance
Refinance
Purchase
Feb. 18
400 $400
$00
May May16
’16
May May17
May May18
May 19 May
May 20 May
’17
’18
’19
’20
Continued on Page 16
TO OUR CUSTOMERS
Volume of Mortgages for Single-Family Homes
7 OLD BAY RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,200,000 B: Maureen P Flanagan-Tenney & Harral Stratt-Tenney 3rd S: Timothy H Braseth Use: 3 Bdrm Contemporary, Lot: 14810sf
200
banks and credit unions could fill. “There’s good news for the mutuals that are the next tier below Eastern in size,” said Arthur Loomis, president of Loomis & Co., a New York-based investment bank that works extensively with community banks in the Northeast on mergers and acquisitions. “Mutuals will be the long-term survivors. It won’t be the shareholder-owned ones because they’re going to gradually all be acquired.”
New Hampshire Market Statistics
New Castle
PG COUNTY
Eastern Bank executives believe the pandemic will cause both consumer and commercial banking customers to become much more digital in their banking habits. And they need a significant infusion of cash to meet the demand.
$1,891 $2,230
❑ Dollar amounts in millions ❑ Source: The Warren Group ❑ Statistics based on single-family home sales
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he Warren Group is making every reasonable effort to collect real estate data during these unprecedented times. As more registries restrict acBoth cess and courts close down, we anticipate further collection issues and as Refinance a result you will see fewer sales, notices and liens in The Registry Review. Purchase We will publish this information as it is available. We apologize for any inconvenience this crisis may cause, and we thank you for your understanding and continued support of our newspapers. Please call or email customer service at 617-896-5388 or customerservice@thewarrengroup.com if you have any questions. All collection issues are also available on our website, www.thewarrengroup.com/data-collection-issues. Sincerely, Cassidy Norton, Associate Publisher The Warren Group