Tompkins Trust Company Mortgage Rates, Fees & Info

Ithaca, NY

LEI: 254900Q6YS0NMCYAH669

Tax ID: 15-0470650

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    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 by origination volume include: Ithaca, Syracuse, Cortland, Auburn, and Binghamton among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Tompkins Trust Company has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Tompkins Trust Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 11/22/24
    30 Year Conventional Purchase 6.19% 11/22/24
    30 Year Conventional Refi 6.12% 11/22/24
    30 Year Cash-out Refi 6.19% 11/22/24
    30 Year USDA Purchase 6.32% 11/22/24
    15 Year Conventional Purchase 5.57% 11/22/24
    15 Year Conventional Refi 5.71% 11/22/24
    15 Year Cash-out Refi 5.71% 11/22/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Tompkins Trust Company Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Tompkins Trust Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    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

    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
    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.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Tompkins Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Pittsford Federal Credit Union
    Similarity Rank: 52
    BUFFALO METROPOLITAN FEDERAL CREDIT UNION
    Similarity Rank: 55
    SECNY Federal Credit Union
    Similarity Rank: 57
    N C P D Federal Credit Union
    Similarity Rank: 102
    CFCU Community Credit Union
    Similarity Rank: 117
    BELLCO
    Similarity Rank: 176
    COUNTRYSIDE Federal Credit Union
    Similarity Rank: 192
    GREATER WOODLAWN FEDERAL CREDIT UNION
    Similarity Rank: 192
    Geddes Federal Savings and Loan Association
    Similarity Rank: 192
    ONTARIO SHORES
    Similarity Rank: 235

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 608 $209,030,000 $343,799 $3,152 3.04%

    For 2021, Tompkins Trust Company's most frequently originated type of loan was Conventional, with 608 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Tompkins Trust Company's most frequently cited loan purpose was Home Purchase, with 343 originations. The 2nd most popular reason was 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 2021, Tompkins Trust Company's most frequently cited loan duration was 30 Year, with 349 originations. The 2nd most popular length was 15 Year, with 105 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost 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 9 $2,585,000 $287,222
    $5k+ 4 $1,990,000 $497,500
    $4k-5k 2 $650,000 $325,000

    Tompkins Trust Company's average total fees were $3,199, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.05%, while their most frequently originated rate bucket for loans was 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 or Islander 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
    96.91%

    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
    97.04%

    Tompkins Trust Company has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    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 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
    Tompkins Trust Company Central Avenue Ithaca, NY 14850 Full Service B&M $31,310

    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