Carthage Federal Savings And Loan Association Mortgage Rates, Fees & Info

Carthage, NY

LEI: 254900DNLSAVSRPDRK61

Tax ID: 15-0263165

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Mortgage Data

Bank Data

Review & Overview

Carthage Federal Savings And Loan Association is a smaller mortgage company specializing in Home Purchase loans. Carthage Federal Savings And Loan Association has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: Watertown, Ogdensburg, Syracuse, and Utica among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Carthage Federal Savings And Loan Association 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.

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Originations

340

Origination Dollar Volume (All Markets)

$53,630,000

Employee count

42

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
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 239 $40,155,000 $168,013 $0 0.00%
Outside of Metro Areas 73 $10,055,000 $137,740 $0 0.00%
Ogdensburg-Massena, NY (FHA|USDA|VA) 17 $1,885,000 $110,882 $0 0.00%
SYRACUSE, NY (FHA|USDA|VA) 6 $930,000 $155,000 $0 0.00%
UTICA-ROME, NY (FHA|USDA|VA) 5 $605,000 $121,000 $0 0.00%
Carthage Federal Savings And Loan Association's top markets include Watertown, Ogdensburg, Syracuse, 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 213 $28,835,000 $135,376 $0 0.00%
    VA 70 $17,240,000 $246,286 $0 0.00%
    USDA 30 $3,650,000 $121,667 $0 0.00%
    FHA 27 $3,905,000 $144,630 $0 0.00%

    For 2021, Carthage Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 213 originations. Their 2nd most popular type was VA, with 70 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 273 $47,035,000 $172,289 $0 0.00%
    Refi 39 $5,085,000 $130,385 $0 0.00%
    Home Improvement 18 $790,000 $43,889 $0 0.00%
    Other 10 $720,000 $72,000 $0 0.00%

    For 2021, Carthage Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 273 originations. The 2nd most popular reason was Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 340 $53,630,000 $157,735 $0 0.00%

    For 2021, Carthage Federal Savings And Loan Association's most frequently cited loan duration was Other, with 340 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 148 $21,260,000 $143,649 $0 0.00%
    $100,000 or less 97 $6,055,000 $62,423 $0 0.00%
    $200k-400k 92 $25,070,000 $272,500 $0 0.00%
    $400k-600k 3 $1,245,000 $415,000 $0 0.00%

    2021 saw Carthage Federal Savings And Loan Association place emphasis on $100k-200k loans with 148 originations, totaling $21,260,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 102 $14,450,000 $141,667 $0 0.00%
    $100k-150k 65 $13,045,000 $200,692 $0 0.00%
    $75k-100k 65 $10,405,000 $160,077 $0 0.00%
    $50k or less 60 $5,630,000 $93,833 $0 0.00%
    $150k-250k 30 $6,860,000 $228,667 $0 0.00%
    $250k+ 11 $2,155,000 $195,909 $0 0.00%

    Carthage Federal Savings And Loan Association lent most frequently to those with incomes in the $50k-75k range, with 102 originations. The second most popular income band? $100k-150k, with 65 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 340 $53,630,000 $157,735 $0 0.00%

    Carthage Federal Savings And Loan Association lent most frequently to those with DTI ratios of Exempt%, with 340 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 315 $49,095,000 $155,857 $0 0.00%
    Not provided 10 $2,110,000 $211,000 $0 0.00%
    Black 9 $1,635,000 $181,667 $0 0.00%
    Asian 5 $645,000 $129,000 $0 0.00%
    American Indian 1 $145,000 $145,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    88.48%

    Carthage Federal Savings And Loan Association has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.35%

    Carthage Federal Savings And Loan Association has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 340 $53,630,000 $157,735

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    340 $53,630,000 $157,735

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Carthage Federal Savings and Loan Association 146 Arsenal St. Ste. 11 Watertown, NY 13601 Full Service B&M $53,426
    Carthage Federal Savings and Loan Association 313 State St Carthage, NY 13619 Full Service B&M $183,632
    Carthage Federal Savings and Loan Association 9756 Main Street Croghan, NY 13327 Full Service B&M $14,709

    For 2021, Carthage Federal Savings And Loan Association had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,830
    Net interest income $7,598
    Total noninterest income $1,025
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $449
    Trading account gains and fees $0
    Additional Noninterest Income $576
    Pre-tax net operating income $3,106
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,611
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,611
    Minority interest net income $0
    Net income $2,611
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,611

    Carthage Federal Savings And Loan Association's gross interest income from loans was $8,830,000.
    Carthage Federal Savings And Loan Association's net interest income from loans was $7,598,000.
    Carthage Federal Savings And Loan Association's fee based income from loans was $449,000.
    Carthage Federal Savings And Loan Association's net income from loans was $2,611,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,232
    Provision for credit losses $58
    Total noninterest expense $5,459
    Salaries and employee benefits $2,696
    Premises and equipment expense $587
    Additional noninterest expense $2,176
    Applicable income taxes $495
    Net charge-offs $16
    Cash dividends $0

    Carthage Federal Savings And Loan Association's interest expense for loans was $1,232,000.
    Carthage Federal Savings And Loan Association's payroll and benefits expense were $2,696,000.
    Carthage Federal Savings And Loan Association's property, plant and equipment expenses $587,000.

    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 $242,585
    Deposits held in domestic offices $242,585
    Deposits by Individuals, partnerships, and corporations $217,677
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $24,908
    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 $79,477
    Demand deposits $29,647
    Nontransaction accounts $163,108
    Money market deposit accounts (MMDAs) $12,856
    Other savings deposits (excluding MMDAs) $41,097
    Total time deposits $109,156
    Total time and savings deposits $212,938
    Noninterest-bearing deposits $18,937
    Interest-bearing deposits $223,648
    Retail deposits $203,340
    IRAs and Keogh plan accounts $20,461
    Brokered deposits $13,960
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $283,983
    Cash & Balances due from depository institutions $21,759
    Interest-bearing balances $19,336
    Total securities $50,521
    Federal funds sold & reverse repurchase $0
    Net loans and leases $195,098
    Loan and leases loss allowance $958
    Trading account assets $0
    Bank premises and fixed assets $2,742
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $13,863

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $283,983
    Total Liabilities $253,209
    Total deposits $242,585
    Interest-bearing deposits $223,648
    Deposits held in domestic offices $242,585
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $7,802
    Subordinated debt $0
    All other liabilities $2,822

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $195,098
    Loan and leases loss allowance $958
    Total loans and leases (domestic) $196,056
    All real estate loans $189,259
    Real estate loans in domestic offices $189,259
    Construction and development loans $2,627
    Residential 1-4 family construction $2,593
    Other construction, all land development and other land $34
    Loans secured by nonfarm nonresidential properties $1,687
    Nonfarm nonresidential secured by owner-occupied properties $0
    Commercial real estate & other non-farm, non-residential $1,687
    Multifamily residential real estate $351
    1-4 family residential loans $184,594
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $6,797
    Credit card loans $0
    Related Plans $71
    Consumer Auto Loans $2,656
    Other loans to individuals $4,070
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Carthage Federal Savings and Loan Association had $195,098,000 of loans outstanding in 2021. $189,259,000 of loans were in real estate loans. $2,627,000 of loans were in development loans. $351,000 of loans were in multifamily mortgage loans. $184,594,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,656,000 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 25 $1,687 $67,480
    Nonfarm, nonresidential loans - <$100k 14 $487 $34,786
    Nonfarm, nonresidential loans - $100-250k 9 $755 $83,889
    Nonfarm, nonresidential loans - $250k-1MM 2 $445 $222,500