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, Denver, and Gloversville 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 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

    276

    Origination Dollar Volume (All Markets)

    $74,320,000

    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) 214 $57,920,000 $270,654 $0 0.00%
    GLENS FALLS, NY (FHA|USDA|VA) 57 $14,705,000 $257,982 $0 0.00%
    Outside of Metro Areas 2 $920,000 $460,000 $0 0.00%
    DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
    Gloversville, NY (FHA|USDA|VA) 2 $270,000 $135,000 $0 0.00%
    The Adirondack Trust Company's top markets include Albany, Glens Falls, Denver, and Gloversville among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 276 $74,320,000 $269,275 $0 0.00%

    For 2020, The Adirondack Trust Company's most frequently originated type of loan was Conventional, with 276 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 115 $35,325,000 $307,174 $0 0.00%
    Refi 95 $24,425,000 $257,105 $0 0.00%
    Cash Out Refi 39 $12,075,000 $309,615 $0 0.00%
    Home Improvement 16 $1,140,000 $71,250 $0 0.00%
    Other 11 $1,355,000 $123,182 $0 0.00%

    For 2020, The Adirondack Trust Company's most frequently cited loan purpose was Home Purchase, with 115 originations. The 2nd most popular reason was Refi, with 95 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 276 $74,320,000 $269,275 $0 0.00%

    For 2020, The Adirondack Trust Company's most frequently cited loan duration was Other, with 276 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 103 $28,285,000 $274,612 $0 0.00%
    $100k-200k 77 $11,615,000 $150,844 $0 0.00%
    $100,000 or less 39 $2,305,000 $59,103 $0 0.00%
    $400k-600k 39 $18,165,000 $465,769 $0 0.00%
    $600k-1MM 16 $11,470,000 $716,875 $0 0.00%
    $1MM+ 2 $2,480,000 $1,240,000 $0 0.00%

    2020 saw The Adirondack Trust Company place emphasis on $200k-400k loans with 103 originations, totaling $28,285,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 61 $17,825,000 $292,213 $0 0.00%
    $250k+ 44 $18,030,000 $409,773 $0 0.00%
    $100k-150k 43 $11,265,000 $261,977 $0 0.00%
    $75k-100k 38 $9,490,000 $249,737 $0 0.00%
    $50k-75k 30 $5,080,000 $169,333 $0 0.00%
    $50k or less 21 $4,035,000 $192,143 $0 0.00%

    The Adirondack Trust Company lent most frequently to those with incomes in the $150k-250k range, with 61 originations. The second most popular income band? $250k+, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 276 $74,320,000 $269,275 $0 0.00%

    The Adirondack Trust Company lent most frequently to those with DTI ratios of Exempt%, with 276 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 200 $57,220,000 $286,100 $0 0.00%
    Not provided 46 $9,890,000 $215,000 $0 0.00%
    Not applicable 24 $5,970,000 $248,750 $0 0.00%
    Asian 4 $750,000 $187,500 $0 0.00%
    Black 1 $275,000 $275,000 $0 0.00%
    Other Asian 1 $215,000 $215,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.61%

    The Adirondack Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    50.36%

    The Adirondack Trust Company has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 276 $74,320,000 $269,275

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $100,000 $50,000
    Multifamily:Site-Built 7 $2,865,000 $409,286
    Single Family (1-4 Units):Site-Built 267 $71,355,000 $267,247

    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 $2,352
    The Adirondack Trust Company 112 Broadway Saratoga Springs, NY 12866 Full Service B&M $71,941
    The Adirondack Trust Company 162 Northline Road Saratoga Springs, NY 12020 Full Service B&M $35,893
    The Adirondack Trust Company 224 Church Avenue Ballston Spa, NY 12020 Full Service B&M $28,902
    The Adirondack Trust Company 24 Maple Street Glens Falls, NY 12801 Full Service B&M $11,585
    The Adirondack Trust Company 3017 Route 50 Saratoga Springs, NY 12866 Full Service B&M $80,777
    The Adirondack Trust Company 322 Ruhle Road Ballston Lake, NY 12019 Full Service B&M $15,199
    The Adirondack Trust Company 376 Bay Road Queensbury, NY 12804 Full Service B&M $36,768
    The Adirondack Trust Company 473 Broadway Saratoga Springs, NY 12866 Full Service B&M $691,958
    The Adirondack Trust Company 51 Luther Forest Blvd Mechanicville, NY 12118 Full Service B&M $2,088
    The Adirondack Trust Company 650 Maple Avenue Wilton, NY 12866 Full Service B&M $59,282
    The Adirondack Trust Company Church Street Saratoga Springs, NY 12866 Full Service B&M $106,885
    The Adirondack Trust Company Route 9 Malta, NY 12020 Full Service B&M $88,092

    For 2020, The Adirondack Trust Company had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $40,723
    Net interest income $38,506
    Total noninterest income $23,595
    Gross Fiduciary activities income $3,038
    Service charges on deposit accounts $643
    Trading account gains and fees $0
    Additional Noninterest Income $19,914
    Pre-tax net operating income $10,566
    Securities gains (or losses, -) $36
    Income before extraordinary items $8,314
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,314
    Minority interest net income $0
    Net income $8,314
    Sale, conversion, retirement of capital stock, net $23
    Net operating income $8,285

    The Adirondack Trust Company's gross interest income from loans was $40,723,000.
    The Adirondack Trust Company's net interest income from loans was $38,506,000.
    The Adirondack Trust Company's fee based income from loans was $643,000.
    The Adirondack Trust Company's net income from loans was $8,314,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,217
    Provision for credit losses $8,500
    Total noninterest expense $43,035
    Salaries and employee benefits $27,115
    Premises and equipment expense $4,539
    Additional noninterest expense $11,381
    Applicable income taxes $2,288
    Net charge-offs $-8
    Cash dividends $3,958

    The Adirondack Trust Company's interest expense for loans was $2,217,000.
    The Adirondack Trust Company's payroll and benefits expense were $27,115,000.
    The Adirondack Trust Company's property, plant and equipment expenses $4,539,000.

    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 0.1%
    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 $1,324,589
    Deposits held in domestic offices $1,324,589
    Deposits by Individuals, partnerships, and corporations $1,255,611
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $68,978
    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 $649,462
    Demand deposits $453,102
    Nontransaction accounts $675,127
    Money market deposit accounts (MMDAs) $354,510
    Other savings deposits (excluding MMDAs) $114,648
    Total time deposits $205,969
    Total time and savings deposits $871,487
    Noninterest-bearing deposits $453,102
    Interest-bearing deposits $871,487
    Retail deposits $1,283,403
    IRAs and Keogh plan accounts $16,481
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,495,891
    Cash & Balances due from depository institutions $402,624
    Interest-bearing balances $370,311
    Total securities $211,600
    Federal funds sold & reverse repurchase $0
    Net loans and leases $810,784
    Loan and leases loss allowance $20,724
    Trading account assets $0
    Bank premises and fixed assets $30,111
    Other real estate owned $135
    Goodwill and other intangibles $22,236
    All other assets $18,401

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,495,891
    Total Liabilities $1,355,506
    Total deposits $1,324,589
    Interest-bearing deposits $871,487
    Deposits held in domestic offices $1,324,589
    % insured (estimated) $66
    Federal funds purchased and repurchase agreements $9,174
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $21,743

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $810,784
    Loan and leases loss allowance $20,724
    Total loans and leases (domestic) $831,508
    All real estate loans $657,758
    Real estate loans in domestic offices $657,758
    Construction and development loans $46,031
    Residential 1-4 family construction $2,994
    Other construction, all land development and other land $43,037
    Loans secured by nonfarm nonresidential properties $338,436
    Nonfarm nonresidential secured by owner-occupied properties $121,367
    Commercial real estate & other non-farm, non-residential $217,069
    Multifamily residential real estate $54,412
    1-4 family residential loans $218,879
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $150,572
    To non-U.S. addressees $0
    Loans to individuals $17,763
    Credit card loans $999
    Related Plans $2,034
    Consumer Auto Loans $11,206
    Other loans to individuals $3,524
    All other loans & leases $7,751
    Loans to foreign governments and official institutions $0
    Other loans $2,204
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $5,846
    Loans secured by real estate to non-U.S. addressees $64
    Restructured Loans & leases $562
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    The Adirondack Trust Company had $810,784,000 of loans outstanding in 2020. $657,758,000 of loans were in real estate loans. $46,031,000 of loans were in development loans. $54,412,000 of loans were in multifamily mortgage loans. $218,879,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $999,000 of loans were in credit card loans. $11,206,000 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 355 $93,388 $263,065
    Nonfarm, nonresidential loans - <$100k 55 $2,233 $40,600
    Nonfarm, nonresidential loans - $100-250k 110 $13,602 $123,655
    Nonfarm, nonresidential loans - $250k-1MM 190 $77,553 $408,174
    Commercial & Industrial, US addressed loans - <$1MM 1,542 $89,849 $58,268
    Commercial & Industrial, US addressed loans - <$100k 1,121 $22,878 $20,409
    Commercial & Industrial, US addressed loans - $100-250k 246 $21,903 $89,037
    Commercial & Industrial, US addressed loans - $250k-1MM 175 $45,068 $257,531