The Adirondack Trust Company Mortgage Rates, Fees & Info

Saratoga Springs, NY

LEI: 254900158KALQ2PWDU44

Tax ID: 14-0458765

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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, New York, Providence, and Barnstable Town among others. We have data for 6 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    270

    Origination Dollar Volume (All Markets)

    $72,660,000

    Employee count

    252

    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) 208 $54,260,000 $260,865 $0 0.00%
    GLENS FALLS, NY (FHA|USDA|VA) 56 $15,410,000 $275,179 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $1,535,000 $511,667 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $695,000 $695,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
    Outside of Metro Areas 1 $255,000 $255,000 $0 0.00%
    The Adirondack Trust Company's top markets include Albany, Glens Falls, New York, Providence, and Barnstable Town among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Rhode Island (FHA|USDA|VA)
  • Massachusetts (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 270 $72,660,000 $269,111 $0 0.00%

    For 2019, The Adirondack Trust Company's most frequently originated type of loan was Conventional, with 270 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 120 $36,450,000 $303,750 $0 0.00%
    Refi 58 $17,810,000 $307,069 $0 0.00%
    Cash Out Refi 33 $8,985,000 $272,273 $0 0.00%
    Other 32 $2,620,000 $81,875 $0 0.00%
    Home Improvement 27 $6,795,000 $251,667 $0 0.00%

    For 2019, The Adirondack Trust Company's most frequently cited loan purpose was Home Purchase, with 120 originations. The 2nd most popular reason was Refi, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 270 $72,660,000 $269,111 $0 0.00%

    For 2019, The Adirondack Trust Company's most frequently cited loan duration was Other, with 270 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 82 $23,150,000 $282,317 $0 0.00%
    $100k-200k 74 $11,220,000 $151,622 $0 0.00%
    $100,000 or less 70 $3,250,000 $46,429 $0 0.00%
    $400k-600k 21 $9,555,000 $455,000 $0 0.00%
    $600k-1MM 15 $11,365,000 $757,667 $0 0.00%
    $1MM+ 8 $14,120,000 $1,765,000 $0 0.00%

    2019 saw The Adirondack Trust Company place emphasis on $200k-400k loans with 82 originations, totaling $23,150,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 58 $13,480,000 $232,414 $0 0.00%
    $150k-250k 47 $12,125,000 $257,979 $0 0.00%
    $50k-75k 45 $5,915,000 $131,444 $0 0.00%
    $75k-100k 32 $4,780,000 $149,375 $0 0.00%
    $50k or less 25 $3,005,000 $120,200 $0 0.00%
    $250k+ 24 $10,770,000 $448,750 $0 0.00%

    The Adirondack Trust Company lent most frequently to those with incomes in the $100k-150k range, with 58 originations. The second most popular income band? $150k-250k, with 47 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 270 $72,660,000 $269,111 $0 0.00%

    The Adirondack Trust Company lent most frequently to those with DTI ratios of Exempt%, with 270 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 191 $45,785,000 $239,712 $0 0.00%
    Not applicable 31 $20,145,000 $649,839 $0 0.00%
    Not provided 47 $6,585,000 $140,106 $0 0.00%
    Black 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.78%

    The Adirondack Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.00%

    The Adirondack Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 270 $72,660,000 $269,111

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $1,810,000 $905,000
    Multifamily:Site-Built 15 $12,405,000 $827,000
    Single Family (1-4 Units):Site-Built 253 $58,445,000 $231,008

    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 $2,657
    The Adirondack Trust Company 112 Broadway Saratoga Springs, NY 12866 Full Service B&M $59,835
    The Adirondack Trust Company 162 Northline Road Saratoga Springs, NY 12020 Full Service B&M $29,207
    The Adirondack Trust Company 224 Church Avenue Ballston Spa, NY 12020 Full Service B&M $34,933
    The Adirondack Trust Company 24 Maple Street Glens Falls, NY 12801 Full Service B&M $11,564
    The Adirondack Trust Company 3017 Route 50 Saratoga Springs, NY 12866 Full Service B&M $63,076
    The Adirondack Trust Company 322 Ruhle Road Ballston Lake, NY 12019 Full Service B&M $11,610
    The Adirondack Trust Company 376 Bay Road Queensbury, NY 12804 Full Service B&M $25,737
    The Adirondack Trust Company 473 Broadway Saratoga Springs, NY 12866 Full Service B&M $586,045
    The Adirondack Trust Company 51 Luther Forest Blvd Mechanicville, NY 12118 Full Service B&M $1,219
    The Adirondack Trust Company 650 Maple Avenue Wilton, NY 12866 Full Service B&M $52,334
    The Adirondack Trust Company Church Street Saratoga Springs, NY 12866 Full Service B&M $92,561
    The Adirondack Trust Company Route 9 Malta, NY 12020 Full Service B&M $63,812

    For 2019, The Adirondack Trust Company had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $41,434
    Net interest income $38,299
    Total noninterest income $21,979
    Gross Fiduciary activities income $2,958
    Service charges on deposit accounts $1,024
    Trading account gains and fees $0
    Additional Noninterest Income $17,997
    Pre-tax net operating income $16,731
    Securities gains (or losses, -) $-212
    Income before extraordinary items $12,761
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,761
    Minority interest net income $0
    Net income $12,761
    Sale, conversion, retirement of capital stock, net $23
    Net operating income $12,928

    The Adirondack Trust Company's gross interest income from loans was $41,434,000.
    The Adirondack Trust Company's net interest income from loans was $38,299,000.
    The Adirondack Trust Company's fee based income from loans was $1,024,000.
    The Adirondack Trust Company's net income from loans was $12,761,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,135
    Provision for credit losses $750
    Total noninterest expense $42,797
    Salaries and employee benefits $26,031
    Premises and equipment expense $4,560
    Additional noninterest expense $12,206
    Applicable income taxes $3,758
    Net charge-offs $-58
    Cash dividends $3,957

    The Adirondack Trust Company's interest expense for loans was $3,135,000.
    The Adirondack Trust Company's payroll and benefits expense were $26,031,000.
    The Adirondack Trust Company's property, plant and equipment expenses $4,560,000.

    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 0.0%
    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 $1,076,879
    Deposits held in domestic offices $1,076,879
    Deposits by Individuals, partnerships, and corporations $1,007,418
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $69,461
    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 $500,841
    Demand deposits $351,521
    Nontransaction accounts $576,038
    Money market deposit accounts (MMDAs) $284,786
    Other savings deposits (excluding MMDAs) $85,464
    Total time deposits $205,788
    Total time and savings deposits $725,358
    Noninterest-bearing deposits $351,521
    Interest-bearing deposits $725,358
    Retail deposits $1,037,516
    IRAs and Keogh plan accounts $16,605
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,237,461
    Cash & Balances due from depository institutions $139,758
    Interest-bearing balances $128,234
    Total securities $264,407
    Federal funds sold & reverse repurchase $0
    Net loans and leases $762,177
    Loan and leases loss allowance $12,216
    Trading account assets $0
    Bank premises and fixed assets $29,484
    Other real estate owned $187
    Goodwill and other intangibles $22,825
    All other assets $18,623

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,237,461
    Total Liabilities $1,103,729
    Total deposits $1,076,879
    Interest-bearing deposits $725,358
    Deposits held in domestic offices $1,076,879
    % insured (estimated) $69
    Federal funds purchased and repurchase agreements $3,651
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $23,199

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $762,177
    Loan and leases loss allowance $12,216
    Total loans and leases (domestic) $774,393
    All real estate loans $630,517
    Real estate loans in domestic offices $630,517
    Construction and development loans $37,366
    Residential 1-4 family construction $3,421
    Other construction, all land development and other land $33,945
    Loans secured by nonfarm nonresidential properties $313,145
    Nonfarm nonresidential secured by owner-occupied properties $95,889
    Commercial real estate & other non-farm, non-residential $217,256
    Multifamily residential real estate $55,940
    1-4 family residential loans $224,066
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $100,502
    To non-U.S. addressees $0
    Loans to individuals $35,294
    Credit card loans $1,308
    Related Plans $2,027
    Consumer Auto Loans $26,958
    Other loans to individuals $5,001
    All other loans & leases $8,878
    Loans to foreign governments and official institutions $0
    Other loans $2,459
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $8,261
    Loans secured by real estate to non-U.S. addressees $779
    Restructured Loans & leases $598
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    The Adirondack Trust Company had $762,177,000 of loans outstanding in 2019. $630,517,000 of loans were in real estate loans. $37,366,000 of loans were in development loans. $55,940,000 of loans were in multifamily mortgage loans. $224,066,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,308,000 of loans were in credit card loans. $26,958,000 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 364 $87,982 $241,709
    Nonfarm, nonresidential loans - <$100k 62 $2,469 $39,823
    Nonfarm, nonresidential loans - $100-250k 115 $14,088 $122,504
    Nonfarm, nonresidential loans - $250k-1MM 187 $71,425 $381,952
    Commercial & Industrial, US addressed loans - <$1MM 1,101 $59,444 $53,991
    Commercial & Industrial, US addressed loans - <$100k 793 $13,583 $17,129
    Commercial & Industrial, US addressed loans - $100-250k 170 $13,164 $77,435
    Commercial & Industrial, US addressed loans - $250k-1MM 138 $32,697 $236,935