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

2021 Data | 2020 Data | 2019 Data | 2018 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

Awards

Tompkins Trust Company 30 Year Conventional Loans gold Tompkins Trust Company 30 Year Conventional Loans silver Tompkins Trust Company 30 Year Conventional Loans bronze Tompkins Trust Company 30 Year Conventional Loans bronze
Show all (4) awards

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

Item Value (in 000's)
Total interest income $69,538
Net interest income $65,468
Total noninterest income $74,028
Gross Fiduciary activities income $13,919
Service charges on deposit accounts $2,035
Trading account gains and fees $0
Additional Noninterest Income $58,074
Pre-tax net operating income $48,768
Securities gains (or losses, -) $213
Income before extraordinary items $38,274
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $38,274
Minority interest net income $115
Net income $38,159
Sale, conversion, retirement of capital stock, net $2,747
Net operating income $38,105

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.

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 1.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 1.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 1.0%
Credit card loans 0.0%
Other individual loans 1.0%
Auto loans 4.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

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