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

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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, Refi, and Cash Out 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, Gloversville, and Utica 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.

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    Originations

    329

    Origination Dollar Volume (All Markets)

    $102,965,000

    Employee count

    241

    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) 236 $78,230,000 $331,483 $0 0.00%
    GLENS FALLS, NY (FHA|USDA|VA) 85 $20,745,000 $244,059 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $2,050,000 $1,025,000 $0 0.00%
    Outside of Metro Areas 2 $930,000 $465,000 $0 0.00%
    Gloversville, NY (FHA|USDA|VA) 3 $775,000 $258,333 $0 0.00%
    UTICA-ROME, NY (FHA|USDA|VA) 1 $235,000 $235,000 $0 0.00%
    The Adirondack Trust Company's top markets include Albany, Glens Falls, New York, Gloversville, and Utica among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 329 $102,965,000 $312,964 $0 0.00%

    For 2021, The Adirondack Trust Company's most frequently originated type of loan was Conventional, with 329 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 123 $41,995,000 $341,423 $0 0.00%
    Refi 111 $32,285,000 $290,856 $0 0.00%
    Cash Out Refi 69 $24,315,000 $352,391 $0 0.00%
    Other 14 $2,730,000 $195,000 $0 0.00%
    Home Improvement 12 $1,640,000 $136,667 $0 0.00%

    For 2021, The Adirondack Trust Company's most frequently cited loan purpose was Home Purchase, with 123 originations. The 2nd most popular reason was Refi, with 111 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 329 $102,965,000 $312,964 $0 0.00%

    For 2021, The Adirondack Trust Company's most frequently cited loan duration was Other, with 329 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 139 $40,255,000 $289,604 $0 0.00%
    $100k-200k 100 $15,410,000 $154,100 $0 0.00%
    $400k-600k 38 $18,140,000 $477,368 $0 0.00%
    $100,000 or less 28 $1,600,000 $57,143 $0 0.00%
    $600k-1MM 16 $12,100,000 $756,250 $0 0.00%
    $1MM+ 8 $15,460,000 $1,932,500 $0 0.00%

    2021 saw The Adirondack Trust Company place emphasis on $200k-400k loans with 139 originations, totaling $40,255,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 65 $20,095,000 $309,154 $0 0.00%
    $100k-150k 64 $18,270,000 $285,469 $0 0.00%
    $50k-75k 50 $10,720,000 $214,400 $0 0.00%
    $75k-100k 42 $9,580,000 $228,095 $0 0.00%
    $250k+ 30 $16,010,000 $533,667 $0 0.00%
    $50k or less 29 $5,115,000 $176,379 $0 0.00%

    The Adirondack Trust Company lent most frequently to those with incomes in the $150k-250k range, with 65 originations. The second most popular income band? $100k-150k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 329 $102,965,000 $312,964 $0 0.00%

    The Adirondack Trust Company lent most frequently to those with DTI ratios of Exempt%, with 329 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 235 $73,025,000 $310,745 $0 0.00%
    Not applicable 34 $17,400,000 $511,765 $0 0.00%
    Not provided 57 $11,775,000 $206,579 $0 0.00%
    Asian 2 $490,000 $245,000 $0 0.00%
    Korean 1 $275,000 $275,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.46%

    The Adirondack Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    78.42%

    The Adirondack Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 329 $102,965,000 $312,964

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    329 $102,965,000 $312,964

    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 $3,298
    The Adirondack Trust Company 112 Broadway Saratoga Springs, NY 12866 Full Service B&M $109,259
    The Adirondack Trust Company 162 Northline Road Saratoga Springs, NY 12020 Full Service B&M $41,884
    The Adirondack Trust Company 224 Church Avenue Ballston Spa, NY 12020 Full Service B&M $33,932
    The Adirondack Trust Company 3017 Route 50 Saratoga Springs, NY 12866 Full Service B&M $92,356
    The Adirondack Trust Company 322 Ruhle Road Ballston Lake, NY 12019 Full Service B&M $18,873
    The Adirondack Trust Company 376 Bay Road Queensbury, NY 12804 Full Service B&M $48,520
    The Adirondack Trust Company 473 Broadway Saratoga Springs, NY 12866 Full Service B&M $773,016
    The Adirondack Trust Company 51 Luther Forest Blvd Mechanicville, NY 12118 Full Service B&M $2,683
    The Adirondack Trust Company 650 Maple Avenue Wilton, NY 12866 Full Service B&M $70,863
    The Adirondack Trust Company 79 Main Street Queensbury, NY 12801 Full Service B&M $16,002
    The Adirondack Trust Company Church Street Saratoga Springs, NY 12866 Full Service B&M $129,035
    The Adirondack Trust Company Route 9 Malta, NY 12020 Full Service B&M $102,056

    For 2021, The Adirondack Trust Company had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $42,042
    Net interest income $40,921
    Total noninterest income $24,774
    Gross Fiduciary activities income $3,836
    Service charges on deposit accounts $669
    Trading account gains and fees $0
    Additional Noninterest Income $20,269
    Pre-tax net operating income $19,414
    Securities gains (or losses, -) $-50
    Income before extraordinary items $14,368
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $14,368
    Minority interest net income $0
    Net income $14,368
    Sale, conversion, retirement of capital stock, net $24
    Net operating income $14,407

    The Adirondack Trust Company's gross interest income from loans was $42,042,000.
    The Adirondack Trust Company's net interest income from loans was $40,921,000.
    The Adirondack Trust Company's fee based income from loans was $669,000.
    The Adirondack Trust Company's net income from loans was $14,368,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,121
    Provision for credit losses $0
    Total noninterest expense $46,281
    Salaries and employee benefits $27,775
    Premises and equipment expense $4,524
    Additional noninterest expense $13,982
    Applicable income taxes $4,996
    Net charge-offs $-50
    Cash dividends $3,978

    The Adirondack Trust Company's interest expense for loans was $1,121,000.
    The Adirondack Trust Company's payroll and benefits expense were $27,775,000.
    The Adirondack Trust Company's property, plant and equipment expenses $4,524,000.

    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 1.3%
    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 $1,512,642
    Deposits held in domestic offices $1,512,642
    Deposits by Individuals, partnerships, and corporations $1,444,199
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $68,443
    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 $720,203
    Demand deposits $504,444
    Nontransaction accounts $792,439
    Money market deposit accounts (MMDAs) $433,553
    Other savings deposits (excluding MMDAs) $140,297
    Total time deposits $218,590
    Total time and savings deposits $1,008,198
    Noninterest-bearing deposits $504,444
    Interest-bearing deposits $1,008,198
    Retail deposits $1,462,206
    IRAs and Keogh plan accounts $15,492
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,698,702
    Cash & Balances due from depository institutions $251,306
    Interest-bearing balances $236,069
    Total securities $562,681
    Federal funds sold & reverse repurchase $0
    Net loans and leases $803,263
    Loan and leases loss allowance $20,774
    Trading account assets $0
    Bank premises and fixed assets $33,352
    Other real estate owned $135
    Goodwill and other intangibles $21,675
    All other assets $26,290

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,698,702
    Total Liabilities $1,549,897
    Total deposits $1,512,642
    Interest-bearing deposits $1,008,198
    Deposits held in domestic offices $1,512,642
    % insured (estimated) $68
    Federal funds purchased and repurchase agreements $10,902
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $26,353

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $803,263
    Loan and leases loss allowance $20,774
    Total loans and leases (domestic) $824,037
    All real estate loans $675,713
    Real estate loans in domestic offices $675,713
    Construction and development loans $40,279
    Residential 1-4 family construction $6,446
    Other construction, all land development and other land $33,833
    Loans secured by nonfarm nonresidential properties $362,620
    Nonfarm nonresidential secured by owner-occupied properties $113,126
    Commercial real estate & other non-farm, non-residential $249,494
    Multifamily residential real estate $50,419
    1-4 family residential loans $222,395
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $127,122
    To non-U.S. addressees $0
    Loans to individuals $10,274
    Credit card loans $1,115
    Related Plans $1,642
    Consumer Auto Loans $3,824
    Other loans to individuals $3,693
    All other loans & leases $12,831
    Loans to foreign governments and official institutions $0
    Other loans $8,191
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $9,998
    Loans secured by real estate to non-U.S. addressees $56
    Restructured Loans & leases $427
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    The Adirondack Trust Company had $803,263,000 of loans outstanding in 2021. $675,713,000 of loans were in real estate loans. $40,279,000 of loans were in development loans. $50,419,000 of loans were in multifamily mortgage loans. $222,395,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,115,000 of loans were in credit card loans. $3,824,000 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 343 $93,540 $272,711
    Nonfarm, nonresidential loans - <$100k 44 $1,797 $40,841
    Nonfarm, nonresidential loans - $100-250k 96 $11,175 $116,406
    Nonfarm, nonresidential loans - $250k-1MM 203 $80,568 $396,887
    Commercial & Industrial, US addressed loans - <$1MM 1,087 $69,617 $64,045
    Commercial & Industrial, US addressed loans - <$100k 713 $10,949 $15,356
    Commercial & Industrial, US addressed loans - $100-250k 209 $17,834 $85,330
    Commercial & Industrial, US addressed loans - $250k-1MM 165 $40,834 $247,479