Tompkins Trust Company Mortgage Rates, Fees & Info
Ithaca, NY
LEI: 254900Q6YS0NMCYAH669
Tax ID: 15-0470650
5 stars
-
out of 5 stars, based on 25 reviews
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Mortgage Data
Bank Data
Overview
Tompkins Trust Company is a
smaller
mortgage company
specializing in
Home Purchase and Cash Out Refi loans.
Tompkins Trust Company has a high proportion of conventional loans.
Their top markets include Ithaca, Syracuse, Cortland, Auburn, and Binghamton among others. Tompkins Trust Company has
an above average
approval rate for mortages when compared nationally.
They have
an average
pick rate when compared to the same sample of other lendors.
Tompkins Trust Company is typically
a low fee
lendor.
Originations
608
Origination Dollar Volume (All Markets)
$209,030,000
Employee count
480
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Tompkins Trust Company - 2021
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For 2021, less than of lenders were eligible for this award.
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Relative Rate
Tompkins Trust Company's average 30 year fixed rate mortgage of loans were
3.05%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.1%.
Relative Fees
Tompkins Trust Company's average total fees for a 30 year fixed rate
mortgage are $3,199.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
ITHACA, NY (FHA|USDA|VA)
|
380
|
$118,190,000 |
$311,026 |
$3,240 |
2.99% |
SYRACUSE, NY (FHA|USDA|VA)
|
39
|
$50,245,000 |
$1,288,333 |
$3,245 |
3.19% |
Cortland, NY (FHA|USDA|VA)
|
61
|
$12,295,000 |
$201,557 |
$2,875 |
3.14% |
Auburn, NY (FHA|USDA|VA)
|
64
|
$9,780,000 |
$152,813 |
$3,111 |
3.02% |
BINGHAMTON, NY (FHA|USDA|VA)
|
25
|
$8,305,000 |
$332,200 |
$2,645 |
3.32% |
Seneca Falls, NY (FHA|USDA|VA)
|
14
|
$5,980,000 |
$427,143 |
$3,155 |
3.02% |
Outside of Metro Areas
|
14 |
$2,470,000 |
$176,429 |
$2,839 |
2.85% |
ROCHESTER, NY (FHA|USDA|VA)
|
4
|
$620,000 |
$155,000 |
$3,313 |
3.19% |
UTICA-ROME, NY (FHA|USDA|VA)
|
2
|
$500,000 |
$250,000 |
$2,682 |
3.45% |
ELMIRA, NY (FHA|USDA|VA)
|
4
|
$440,000 |
$110,000 |
$2,777 |
3.31% |
Corning, NY (FHA|USDA|VA)
|
1
|
$205,000 |
$205,000 |
$2,932 |
3.13% |
Tompkins Trust Company's top markets include Ithaca, Syracuse, Cortland, Auburn, and Binghamton among others.
Product Mix
Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Conventional |
608 |
$209,030,000 |
$343,799 |
$3,152 |
3.04% |
For the 2021 period, Tompkins Trust Company's most frequently
originated loan type
of loans were Conventional, with 608 originations.
Loan Reason
Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
Home Purchase |
343 |
$123,745,000 |
$360,773 |
$3,475 |
3.11% |
Cash Out Refi |
141 |
$48,345,000 |
$342,872 |
$2,928 |
2.89% |
Refi |
111 |
$35,255,000 |
$317,613 |
$2,590 |
2.90% |
Home Improvement |
9 |
$1,525,000 |
$169,444 |
$2,078 |
3.86% |
Other |
4 |
$160,000 |
$40,000 |
$939 |
4.25% |
For the 2021, Tompkins Trust Company's most frequently cited loan
purpose
of loans were Home Purchase, with 343
originations.
The 2nd most popular reason of loans were Cash Out Refi,
with 141 originations.
Loan Duration/Length
Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
30 Year |
349 |
$87,265,000 |
$250,043 |
$3,199 |
3.05% |
15 Year |
105 |
$30,845,000 |
$293,762 |
$2,822 |
2.59% |
20 Year |
83 |
$24,625,000 |
$296,687 |
$2,670 |
3.24% |
Other |
34 |
$58,090,000 |
$1,708,529 |
$6,269 |
3.72% |
10 Year |
20 |
$3,460,000 |
$173,000 |
$2,205 |
2.97% |
30+ year |
15 |
$4,515,000 |
$301,000 |
$7,019 |
3.04% |
1 Year |
1 |
$175,000 |
$175,000 |
$0 |
4.50% |
5 Year |
1 |
$55,000 |
$55,000 |
$892 |
3.99% |
For the 2021, Tompkins Trust Company's most frequently cited loan
length
of loans were 30 Year, with 349 originations.
The 2nd most popular length of loans were 15 Year,
with 105 originations.
Origination Fees
Origination Fee |
Originations |
Total Value |
Average Loan |
$<1k |
493 |
$113,885,000 |
$231,004 |
$2k-3k |
18 |
$3,310,000 |
$183,889 |
$1k-2k |
16 |
$3,760,000 |
$235,000 |
$3k-4k |
11 |
$3,235,000 |
$294,091 |
$5k+ |
4 |
$1,990,000 |
$497,500 |
$3,199 of loans were Tompkins Trust Company's
average total fees, while their most
frequently occuring range of origination fees were in the
$<1k bucket,
with 493 originations.
Interest Rates
Loan Rate |
Originations |
Total Value |
Average Loan |
2.5-3% |
329 |
$75,495,000 |
$229,468 |
3-4% |
156 |
$98,640,000 |
$632,308 |
<2.5% |
96 |
$20,510,000 |
$213,646 |
4-5% |
26 |
$14,360,000 |
$552,308 |
5-6% |
1 |
$25,000 |
$25,000 |
During 2021, Tompkins Trust Company's average interest
rate of loans were 3.05%, while their
most frequently originated rate bucket of loans were 2.5-3%,
with 329 originations.
Loan Sizing
Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$100k-200k |
238 |
$35,200,000 |
$147,899 |
$2,886 |
2.99% |
$200k-400k |
234 |
$64,830,000 |
$277,051 |
$3,207 |
2.97% |
$100,000 or less |
62 |
$4,520,000 |
$72,903 |
$2,607 |
3.24% |
$400k-600k |
46 |
$23,030,000 |
$500,652 |
$4,669 |
3.08% |
$1MM+ |
19 |
$74,565,000 |
$3,924,474 |
$5,317 |
3.66% |
$600k-1MM |
9 |
$6,885,000 |
$765,000 |
$4,327 |
3.08% |
2021 saw Tompkins Trust Company place emphasis on
$100k-200k loans
with 238 originations, totaling
$35,200,000 in origination value.
Applicant Income
Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
$100k-150k |
145 |
$32,925,000 |
$227,069 |
$3,277 |
2.94% |
$50k-75k |
118 |
$17,860,000 |
$151,356 |
$2,822 |
2.99% |
$150k-250k |
93 |
$27,385,000 |
$294,462 |
$3,303 |
2.94% |
$75k-100k |
77 |
$15,745,000 |
$204,481 |
$2,890 |
2.95% |
$50k or less |
63 |
$7,935,000 |
$125,952 |
$3,000 |
2.99% |
$250k+ |
48 |
$24,490,000 |
$510,208 |
$3,915 |
2.88% |
Tompkins Trust Company lent most frequently to those with incomes in the
$100k-150k range, with
145 originations.
The second most popular income band? $50k-75k,
with 118 originations.
Applicant Debt to Income Ratio
DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-30% |
162 |
$37,150,000 |
$229,321 |
$3,105 |
2.96% |
30-36% |
106 |
$24,960,000 |
$235,472 |
$3,333 |
2.96% |
<20% |
63 |
$17,045,000 |
$270,556 |
$3,052 |
2.84% |
37% |
30 |
$5,960,000 |
$198,667 |
$2,903 |
2.98% |
38% |
26 |
$6,180,000 |
$237,692 |
$2,822 |
2.94% |
42% |
25 |
$5,535,000 |
$221,400 |
$3,198 |
3.12% |
39% |
22 |
$4,440,000 |
$201,818 |
$3,063 |
2.93% |
45% |
18 |
$4,330,000 |
$240,556 |
$3,187 |
2.94% |
41% |
14 |
$2,730,000 |
$195,000 |
$3,589 |
3.03% |
43% |
14 |
$2,670,000 |
$190,714 |
$2,979 |
3.04% |
36% |
14 |
$2,530,000 |
$180,714 |
$2,898 |
2.88% |
40% |
12 |
$4,300,000 |
$358,333 |
$4,016 |
2.95% |
47% |
8 |
$1,670,000 |
$208,750 |
$3,171 |
2.84% |
46% |
7 |
$1,915,000 |
$273,571 |
$3,102 |
2.70% |
44% |
7 |
$1,305,000 |
$186,429 |
$2,848 |
3.11% |
49% |
7 |
$1,625,000 |
$232,143 |
$3,452 |
3.11% |
48% |
3 |
$455,000 |
$151,667 |
$2,599 |
3.00% |
50-60% |
2 |
$680,000 |
$340,000 |
$4,561 |
2.81% |
>60% |
1 |
$505,000 |
$505,000 |
$3,576 |
3.00% |
Tompkins Trust Company lent most frequently to those with DTI ratios
of 20-30%, with
162 originations.
The next most common DTI ratio? 30-36%,
with 106 originations.
Ethnicity Mix
Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
White |
459 |
$100,555,000 |
$219,074 |
$3,082 |
2.96% |
Not applicable |
64 |
$82,690,000 |
$1,292,031 |
$0 |
3.77% |
Asian |
32 |
$11,810,000 |
$369,063 |
$3,694 |
3.01% |
Not provided |
38 |
$10,410,000 |
$273,947 |
$3,566 |
2.91% |
Black |
7 |
$1,385,000 |
$197,857 |
$3,102 |
2.93% |
Chinese |
2 |
$930,000 |
$465,000 |
$3,511 |
2.69% |
Other Asian |
2 |
$560,000 |
$280,000 |
$2,843 |
2.56% |
Korean |
1 |
$235,000 |
$235,000 |
$3,447 |
2.88% |
Asian Indian |
1 |
$165,000 |
$165,000 |
$2,536 |
2.50% |
Native Hawaiian |
1 |
$145,000 |
$145,000 |
$3,362 |
3.13% |
American Indian |
1 |
$145,000 |
$145,000 |
$2,692 |
3.00% |
Approval Rates
Total approvals of all applications
96.32%
Tompkins Trust Company has an exceptionally high approval rate. They
either target their audience
very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination
94.64%
Tompkins Trust Company has an average pick rate.
Points and Fees
Points |
Originations |
Total Value |
Average Loan |
NA |
608 |
$209,030,000 |
$343,799 |
Occupancy Type Mix
Dwelling Type |
Originations |
Total Value |
Average Loan |
|
608 |
$209,030,000 |
$343,799 |
LTV Distribution
Loan to Value |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
20-40% |
19 |
$6,615,000 |
$348,158 |
$2,240 |
3.21% |
40-60% |
85 |
$36,535,000 |
$429,824 |
$3,148 |
2.85% |
60-80% |
262 |
$108,020,000 |
$412,290 |
$3,176 |
3.09% |
80-100% |
229 |
$53,115,000 |
$231,943 |
$3,252 |
2.98% |
Over 100% |
8 |
$4,570,000 |
$571,250 |
$0 |
3.92% |
Under 20% |
5 |
$175,000 |
$35,000 |
$790 |
4.27% |
Bank Details
Branches
Bank Name |
Branch |
Branch Type |
Deposits (000's) |
Tompkins Trust Company |
1012 Ellis Hollow Road Ithaca, NY 14850 |
Full Service B&M
|
$70,091 |
Tompkins Trust Company |
Central Avenue Ithaca, NY 14850 |
Full Service B&M
|
$31,310 |
Tompkins Trust Company |
116 East Seneca Street Ithaca, NY 14850 |
Limited, Drive-thru
|
$0 |
Tompkins Trust Company |
118 E. Seneca Street Ithaca, NY 14850 |
Full Service B&M
|
$731,013 |
Tompkins Trust Company |
139 North Street Extension Dryden, NY 13053 |
Full Service B&M
|
$63,348 |
Tompkins Trust Company |
2 West Main Street Trumansburg, NY 14886 |
Full Service B&M
|
$179,269 |
Tompkins Trust Company |
2230 North Triphammer Road Ithaca, NY 14850 |
Full Service B&M
|
$2,870 |
Tompkins Trust Company |
2251 N Triphammer Rd Lansing Township, NY 14850 |
Full Service B&M
|
$439,665 |
Tompkins Trust Company |
36 Main Street Cortland, NY 13045 |
Full Service B&M
|
$98,789 |
Tompkins Trust Company |
6872 East Genesee Street Fayetteville, NY 13066 |
Full Service B&M
|
$44,228 |
Tompkins Trust Company |
701 West Seneca Street Ithaca, NY 14850 |
Full Service B&M
|
$124,851 |
Tompkins Trust Company |
775 South Meadow Street Ithaca, NY 14850 |
Full Service B&M
|
$108,099 |
Tompkins Trust Company |
86 North Street Auburn, NY 13021 |
Full Service B&M
|
$255,953 |
For 2021, Tompkins Trust Company had 13 branches.
Yearly Performance Overview
Bank Income
Tompkins Trust Company's gross interest income from loans was $69,538,000.
Tompkins Trust Company's net interest income from loans was $65,468,000.
Tompkins Trust Company's fee based income from loans was $2,035,000.
Tompkins Trust Company's net income from loans was $38,159,000.
Bank Expenses
Item |
Value (in 000's) |
Total interest expense |
$4,070 |
Provision for credit losses |
$-2,979 |
Total noninterest expense |
$93,707 |
Salaries and employee benefits |
$58,101 |
Premises and equipment expense |
$9,479 |
Additional noninterest expense |
$26,127 |
Applicable income taxes |
$10,707 |
Net charge-offs |
$-459 |
Cash dividends |
$29,184 |
Tompkins Trust Company's interest expense for loans was $4,070,000.
Tompkins Trust Company's payroll and benefits expense were $58,101,000.
Tompkins Trust Company's property, plant and equipment expenses $9,479,000.
Deposits
Type |
Value (in 000's) |
Total deposits |
$2,112,348 |
Deposits held in domestic offices |
$2,112,348 |
Deposits by Individuals, partnerships, and corporations |
$1,583,000 |
Deposits by U.S. Government |
$0 |
Deposits by States and political subdivisions in the U.S. |
$528,799 |
Deposits by Commercial banks and other depository institutions in U.S. |
$549 |
Deposits by Banks in foreign countries |
$0 |
Deposits by Foreign governments and official institutions |
$0 |
Transaction accounts |
$241,756 |
Demand deposits |
$193,316 |
Nontransaction accounts |
$1,870,592 |
Money market deposit accounts (MMDAs) |
$1,653,013 |
Other savings deposits (excluding MMDAs) |
$21,835 |
Total time deposits |
$195,744 |
Total time and savings deposits |
$1,919,032 |
Noninterest-bearing deposits |
$587,884 |
Interest-bearing deposits |
$1,524,464 |
Retail deposits |
$2,048,083 |
IRAs and Keogh plan accounts |
$26,429 |
Brokered deposits |
$1,809 |
Deposits held in foreign offices |
$0 |
Assets
Asset |
Value (in 000's) |
Total Assets |
$2,453,893 |
Cash & Balances due from depository institutions |
$19,287 |
Interest-bearing balances |
$7,991 |
Total securities |
$826,946 |
Federal funds sold & reverse repurchase |
$46,000 |
Net loans and leases |
$1,428,394 |
Loan and leases loss allowance |
$11,822 |
Trading account assets |
$0 |
Bank premises and fixed assets |
$56,316 |
Other real estate owned |
$0 |
Goodwill and other intangibles |
$747 |
All other assets |
$76,203 |
Liabilities
Liabilities |
Value (in 000's) |
Total liabilities and capital |
$2,453,893 |
Total Liabilities |
$2,281,949 |
Total deposits |
$2,112,348 |
Interest-bearing deposits |
$1,524,464 |
Deposits held in domestic offices |
$2,112,348 |
% insured (estimated) |
$49 |
Federal funds purchased and repurchase agreements |
$60,092 |
Trading liabilities |
$0 |
Other borrowed funds |
$64,000 |
Subordinated debt |
$0 |
All other liabilities |
$45,509 |
Issued Loan Types
Type |
Value (in 000's) |
Net loans and leases |
$1,428,394 |
Loan and leases loss allowance |
$11,822 |
Total loans and leases (domestic) |
$1,440,216 |
All real estate loans |
$1,294,037 |
Real estate loans in domestic offices |
$1,294,037 |
Construction and development loans |
$86,019 |
Residential 1-4 family construction |
$1,209 |
Other construction, all land development and other land |
$84,810 |
Loans secured by nonfarm nonresidential properties |
$438,028 |
Nonfarm nonresidential secured by owner-occupied properties |
$118,645 |
Commercial real estate & other non-farm, non-residential |
$319,383 |
Multifamily residential real estate |
$138,200 |
1-4 family residential loans |
$627,900 |
Farmland loans |
$3,890 |
Loans held in foreign offices |
$0 |
Farm loans |
$319 |
Commercial and industrial loans |
$74,121 |
To non-U.S. addressees |
$0 |
Loans to individuals |
$21,483 |
Credit card loans |
$0 |
Related Plans |
$6,917 |
Consumer Auto Loans |
$5,841 |
Other loans to individuals |
$8,725 |
All other loans & leases |
$50,256 |
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 |
$1,338 |
Non 1-4 family restructured loans & leases |
$378 |
Total loans and leases (foreign) |
$0 |
Tompkins Trust Company had $1,428,394,000 of loans outstanding in 2021. $1,294,037,000 of loans were in real estate loans.
$86,019,000 of loans were in development loans. $138,200,000 of loans were in multifamily mortgage loans.
$627,900,000 of loans were in 1-4 family mortgage loans. $319,000 of loans were in farm loans. $0
of loans were in credit card loans. $5,841,000 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 |
247 |
$71,410 |
$289,109 |
Nonfarm, nonresidential loans - <$100k |
19 |
$883 |
$46,474 |
Nonfarm, nonresidential loans - $100-250k |
92 |
$12,418 |
$134,978 |
Nonfarm, nonresidential loans - $250k-1MM |
136 |
$58,109 |
$427,272 |
Commercial & Industrial, US addressed loans - <$1MM |
521 |
$48,120 |
$92,361 |
Commercial & Industrial, US addressed loans - <$100k |
342 |
$10,289 |
$30,085 |
Commercial & Industrial, US addressed loans - $100-250k |
107 |
$13,161 |
$123,000 |
Commercial & Industrial, US addressed loans - $250k-1MM |
72 |
$24,670 |
$342,639 |
Farmland loans - <$1MM |
10 |
$1,168 |
$116,800 |
Farmland loans - <$100k |
2 |
$121 |
$60,500 |
Farmland loans - $100-250k |
8 |
$1,047 |
$130,875 |
Agriculture operations loans - <$1MM |
12 |
$319 |
$26,583 |
Agriculture operations loans - <$100k |
11 |
$266 |
$24,182 |
Agriculture operations loans - $100-250k |
1 |
$53 |
$53,000 |