The Adirondack Trust Company Mortgage Rates, Fees & Info

Saratoga Springs, NY

LEI: 254900158KALQ2PWDU44

Tax ID: 14-0458765

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    The Adirondack Trust Company is a smaller mortgage company specializing in Home Purchase and Refi loans. The Adirondack Trust Company has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Glens Falls, Gloversville, and Miami among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Adirondack Trust Company has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    232

    Origination Dollar Volume (All Markets)

    $76,270,000

    Employee count

    250

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 175 $39,015,000 $222,943 $0 0.00%
    GLENS FALLS, NY (FHA|USDA|VA) 52 $36,290,000 $697,885 $0 0.00%
    Gloversville, NY (FHA|USDA|VA) 2 $560,000 $280,000 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    Outside of Metro Areas 2 $150,000 $75,000 $0 0.00%
    The Adirondack Trust Company's top markets include Albany, Glens Falls, Gloversville, and Miami among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 232 $76,270,000 $328,750 $0 0.00%

    For 2018, The Adirondack Trust Company's most frequently originated type of loan was Conventional, with 232 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 126 $31,100,000 $246,825 $0 0.00%
    Refi 33 $36,255,000 $1,098,636 $0 0.00%
    Cash Out Refi 29 $6,065,000 $209,138 $0 0.00%
    Other 25 $1,445,000 $57,800 $0 0.00%
    Home Improvement 19 $1,405,000 $73,947 $0 0.00%

    For 2018, The Adirondack Trust Company's most frequently cited loan purpose was Home Purchase, with 126 originations. The 2nd most popular reason was Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 232 $76,270,000 $328,750 $0 0.00%

    For 2018, The Adirondack Trust Company's most frequently cited loan duration was Other, with 232 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 93 $24,995,000 $268,763 $0 0.00%
    $100,000 or less 60 $3,170,000 $52,833 $0 0.00%
    $100k-200k 58 $8,760,000 $151,034 $0 0.00%
    $400k-600k 15 $6,515,000 $434,333 $0 0.00%
    $600k-1MM 4 $2,780,000 $695,000 $0 0.00%
    $1MM+ 2 $30,050,000 $15,025,000 $0 0.00%

    2018 saw The Adirondack Trust Company place emphasis on $200k-400k loans with 93 originations, totaling $24,995,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 50 $11,130,000 $222,600 $0 0.00%
    $150k-250k 37 $7,565,000 $204,459 $0 0.00%
    $50k-75k 34 $4,420,000 $130,000 $0 0.00%
    $75k-100k 34 $5,550,000 $163,235 $0 0.00%
    $250k+ 31 $10,085,000 $325,323 $0 0.00%
    $50k or less 13 $1,695,000 $130,385 $0 0.00%

    The Adirondack Trust Company lent most frequently to those with incomes in the $100k-150k range, with 50 originations. The second most popular income band? $150k-250k, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 232 $76,270,000 $328,750 $0 0.00%

    The Adirondack Trust Company lent most frequently to those with DTI ratios of Exempt%, with 232 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 26 $34,330,000 $1,320,385 $0 0.00%
    White 143 $31,715,000 $221,783 $0 0.00%
    Not provided 55 $8,605,000 $156,455 $0 0.00%
    Asian 4 $1,030,000 $257,500 $0 0.00%
    Native Hawaiian or Islander 1 $215,000 $215,000 $0 0.00%
    Black 1 $195,000 $195,000 $0 0.00%
    Korean 1 $155,000 $155,000 $0 0.00%
    American Indian 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.67%

    The Adirondack Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.72%

    The Adirondack Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 232 $76,270,000 $328,750

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 3 $435,000 $145,000
    Multifamily:Site-Built 7 $31,105,000 $4,443,571
    Single Family (1-4 Units):Site-Built 222 $44,730,000 $201,486

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Adirondack Trust Company 100 Saratoga Boulevard Saratoga Springs, NY 12866 Full Service Retail $3,111
    The Adirondack Trust Company 112 Broadway Saratoga Springs, NY 12866 Full Service B&M $59,163
    The Adirondack Trust Company 162 Northline Road Saratoga Springs, NY 12020 Full Service B&M $29,774
    The Adirondack Trust Company 224 Church Avenue Ballston Spa, NY 12020 Full Service B&M $32,761
    The Adirondack Trust Company 24 Maple Street Glens Falls, NY 12801 Full Service B&M $11,103
    The Adirondack Trust Company 3017 Route 50 Saratoga Springs, NY 12866 Full Service B&M $61,409
    The Adirondack Trust Company 322 Ruhle Road Ballston Lake, NY 12019 Full Service B&M $10,274
    The Adirondack Trust Company 376 Bay Road Queensbury, NY 12804 Full Service B&M $25,857
    The Adirondack Trust Company 473 Broadway Saratoga Springs, NY 12866 Full Service B&M $553,925
    The Adirondack Trust Company 51 Luther Forest Blvd Mechanicville, NY 12118 Full Service B&M $389
    The Adirondack Trust Company 650 Maple Avenue Wilton, NY 12866 Full Service B&M $44,643
    The Adirondack Trust Company Church Street Saratoga Springs, NY 12866 Full Service B&M $87,423
    The Adirondack Trust Company Route 9 Malta, NY 12020 Full Service B&M $75,812

    For 2018, The Adirondack Trust Company had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $38,132
    Net interest income $36,412
    Total noninterest income $21,746
    Gross Fiduciary activities income $2,751
    Service charges on deposit accounts $1,055
    Trading account gains and fees $0
    Additional Noninterest Income $17,940
    Pre-tax net operating income $16,189
    Securities gains (or losses, -) $-245
    Income before extraordinary items $12,303
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,303
    Minority interest net income $0
    Net income $12,303
    Sale, conversion, retirement of capital stock, net $22
    Net operating income $12,496

    The Adirondack Trust Company's gross interest income from loans was $38,132,000.
    The Adirondack Trust Company's net interest income from loans was $36,412,000.
    The Adirondack Trust Company's fee based income from loans was $1,055,000.
    The Adirondack Trust Company's net income from loans was $12,303,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,720
    Provision for credit losses $1,000
    Total noninterest expense $40,969
    Salaries and employee benefits $25,185
    Premises and equipment expense $4,317
    Additional noninterest expense $11,467
    Applicable income taxes $3,641
    Net charge-offs $572
    Cash dividends $3,938

    The Adirondack Trust Company's interest expense for loans was $1,720,000.
    The Adirondack Trust Company's payroll and benefits expense were $25,185,000.
    The Adirondack Trust Company's property, plant and equipment expenses $4,317,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.2%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,000,964
    Deposits held in domestic offices $1,000,964
    Deposits by Individuals, partnerships, and corporations $919,802
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $81,162
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $412,142
    Demand deposits $289,491
    Nontransaction accounts $588,822
    Money market deposit accounts (MMDAs) $303,513
    Other savings deposits (excluding MMDAs) $82,893
    Total time deposits $202,417
    Total time and savings deposits $711,473
    Noninterest-bearing deposits $289,491
    Interest-bearing deposits $711,472
    Retail deposits $958,497
    IRAs and Keogh plan accounts $17,668
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,148,332
    Cash & Balances due from depository institutions $69,971
    Interest-bearing balances $52,728
    Total securities $259,357
    Federal funds sold & reverse repurchase $0
    Net loans and leases $749,037
    Loan and leases loss allowance $11,408
    Trading account assets $0
    Bank premises and fixed assets $27,380
    Other real estate owned $135
    Goodwill and other intangibles $23,494
    All other assets $18,958

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,148,332
    Total Liabilities $1,026,478
    Total deposits $1,000,964
    Interest-bearing deposits $711,472
    Deposits held in domestic offices $1,000,964
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $3,405
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $22,109

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $749,037
    Loan and leases loss allowance $11,408
    Total loans and leases (domestic) $760,445
    All real estate loans $595,522
    Real estate loans in domestic offices $595,522
    Construction and development loans $28,859
    Residential 1-4 family construction $3,697
    Other construction, all land development and other land $25,162
    Loans secured by nonfarm nonresidential properties $306,220
    Nonfarm nonresidential secured by owner-occupied properties $88,741
    Commercial real estate & other non-farm, non-residential $217,479
    Multifamily residential real estate $51,383
    1-4 family residential loans $209,060
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $94,929
    To non-U.S. addressees $0
    Loans to individuals $60,733
    Credit card loans $1,293
    Related Plans $2,732
    Consumer Auto Loans $51,319
    Other loans to individuals $5,389
    All other loans & leases $9,944
    Loans to foreign governments and official institutions $0
    Other loans $2,683
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $5,888
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $510
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    The Adirondack Trust Company had $749,037,000 of loans outstanding in 2018. $595,522,000 of loans were in real estate loans. $28,859,000 of loans were in development loans. $51,383,000 of loans were in multifamily mortgage loans. $209,060,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,293,000 of loans were in credit card loans. $51,319,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 368 $84,725 $230,231
    Nonfarm, nonresidential loans - <$100k 63 $2,728 $43,302
    Nonfarm, nonresidential loans - $100-250k 122 $14,959 $122,615
    Nonfarm, nonresidential loans - $250k-1MM 183 $67,038 $366,328
    Commercial & Industrial, US addressed loans - <$1MM 1,135 $58,952 $51,940
    Commercial & Industrial, US addressed loans - <$100k 819 $14,024 $17,123
    Commercial & Industrial, US addressed loans - $100-250k 178 $13,539 $76,062
    Commercial & Industrial, US addressed loans - $250k-1MM 138 $31,389 $227,457