Mahopac Bank Mortgage Rates, Fees & Info

Mahopac, NY

LEI: 254900QLWNRZD8ZK6O36

Tax ID: 14-0855737

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Mahopac Bank is a smaller bank specializing in Home Purchase, Cash Out Refi, and Refi loans. Mahopac Bank has a high proportion of conventional loans. Their top markets include New York, Poughkeepsie, Bridgeport, Glens Falls, and Torrington among others. Mahopac Bank 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.


Originations

216

Origination Dollar Volume (All Markets)

$114,230,000

Employee count

113

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 154 $75,500,000 $490,260 $0 0.00%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 44 $30,060,000 $683,182 $0 0.00%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 10 $5,630,000 $563,000 $0 0.00%
GLENS FALLS, NY (FHA|USDA|VA) 2 $910,000 $455,000 $0 0.00%
Torrington, CT (FHA|USDA|VA) 2 $900,000 $450,000 $0 0.00%
Hudson, NY (FHA|USDA|VA) 2 $880,000 $440,000 $0 0.00%
Gloversville, NY (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
Outside of Metro Areas 1 $95,000 $95,000 $0 0.00%

Mahopac Bank's top markets include New York, Poughkeepsie, Bridgeport, Glens Falls, and Torrington among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 216 $114,230,000 $528,843 $0 0.00%

For the 2021 period, Mahopac Bank's most frequently originated loan type of loans were Conventional, with 216 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 82 $51,970,000 $633,780 $0 0.00%
Cash Out Refi 78 $36,070,000 $462,436 $0 0.00%
Refi 52 $25,100,000 $482,692 $0 0.00%
Home Improvement 3 $955,000 $318,333 $0 0.00%
Other 1 $135,000 $135,000 $0 0.00%

For the 2021, Mahopac Bank's most frequently cited loan purpose of loans were Home Purchase, with 82 originations. The 2nd most popular reason of loans were Cash Out Refi, with 78 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 216 $114,230,000 $528,843 $0 0.00%

For the 2021, Mahopac Bank's most frequently cited loan length of loans were Other, with 216 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 80 $22,700,000 $283,750 $0 0.00%
$400k-600k 48 $23,710,000 $493,958 $0 0.00%
$600k-1MM 40 $29,160,000 $729,000 $0 0.00%
$100k-200k 30 $4,480,000 $149,333 $0 0.00%
$1MM+ 14 $33,870,000 $2,419,286 $0 0.00%
$100,000 or less 4 $310,000 $77,500 $0 0.00%

2021 saw Mahopac Bank place emphasis on $200k-400k loans with 80 originations, totaling $22,700,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$150k-250k 55 $25,385,000 $461,545 $0 0.00%
$100k-150k 50 $14,930,000 $298,600 $0 0.00%
$250k+ 33 $19,605,000 $594,091 $0 0.00%
$75k-100k 22 $6,280,000 $285,455 $0 0.00%
$50k-75k 15 $2,725,000 $181,667 $0 0.00%
$50k or less 3 $405,000 $135,000 $0 0.00%

Mahopac Bank lent most frequently to those with incomes in the $150k-250k range, with 55 originations. The second most popular income band? $100k-150k, with 50 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 216 $114,230,000 $528,843 $0 0.00%

Mahopac Bank lent most frequently to those with DTI ratios of Exempt%, with 216 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 144 $58,140,000 $403,750 $0 0.00%
Not applicable 37 $44,645,000 $1,206,622 $0 0.00%
Not provided 26 $7,230,000 $278,077 $0 0.00%
Asian 6 $2,560,000 $426,667 $0 0.00%
Black 1 $905,000 $905,000 $0 0.00%
Asian Indian 1 $605,000 $605,000 $0 0.00%
American Indian 1 $145,000 $145,000 $0 0.00%

Approval Rates

Total approvals of all applications
93.31%

Mahopac Bank has an average approval rate.

Pick Rate

Approvals leading to origination
94.43%

Mahopac Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 216 $114,230,000 $528,843

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
216 $114,230,000 $528,843

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Mahopac Bank 1086 North Broadway Yonkers, NY 10701 Full Service B&M $53,820
Mahopac Bank 100 Independent Way (Rte 312) Brewster, NY 10509 Full Service B&M $55,474
Mahopac Bank 831 Route 82 Hopewell Junction, NY 12533 Full Service B&M $123,549
Mahopac Bank 1281 Route 9 Wappingers Falls, NY 12590 Full Service B&M $89,245
Mahopac Bank 1441 Route 22 Brewster, NY 10509 Full Service B&M $152,011
Mahopac Bank 2 Church Street Ossining, NY 10562 Full Service B&M $32,363
Mahopac Bank 21 Peekskill Hollow Road/Oregon Corners Putnam Valley, NY 10579 Full Service B&M $103,594
Mahopac Bank 293 Lexington Avenue Mount Kisco, NY 10549 Full Service B&M $125,378
Mahopac Bank 49 Beekman Avenue Sleepy Hollow, NY 10591 Full Service B&M $99,296
Mahopac Bank 501 Marble Avenue Pleasantville, NY 10570 Full Service B&M $71,139
Mahopac Bank 591 Route 6-N Mahopac Falls, NY 10542 Full Service B&M $94,424
Mahopac Bank 630 Route 6 Mahopac, NY 10541 Full Service B&M $202,073
Mahopac Bank 673 Freedom Plains Road Poughkeepsie, NY 12603 Full Service B&M $72,086
Mahopac Bank 766 Yonkers Avenue Yonkers, NY 10704 Full Service B&M $95,557

For 2021, Mahopac Bank had 14 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $51,191
Net interest income $48,819
Total noninterest income $4,247
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,294
Trading account gains and fees $0
Additional Noninterest Income $2,953
Pre-tax net operating income $22,888
Securities gains (or losses, -) $104
Income before extraordinary items $17,721
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $17,721
Minority interest net income $6
Net income $17,715
Sale, conversion, retirement of capital stock, net $656
Net operating income $17,638

Mahopac Bank's gross interest income from loans was $51,191,000.
Mahopac Bank's net interest income from loans was $48,819,000.
Mahopac Bank's fee based income from loans was $1,294,000.
Mahopac Bank's net income from loans was $17,715,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,372
Provision for credit losses $-1,994
Total noninterest expense $32,172
Salaries and employee benefits $13,207
Premises and equipment expense $3,459
Additional noninterest expense $15,506
Applicable income taxes $5,271
Net charge-offs $53
Cash dividends $14,046

Mahopac Bank's interest expense for loans was $2,372,000.
Mahopac Bank's payroll and benefits expense were $13,207,000.
Mahopac Bank's property, plant and equipment expenses $3,459,000.

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 2.0%
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 $1,323,430
Deposits held in domestic offices $1,323,430
Deposits by Individuals, partnerships, and corporations $1,185,158
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $138,272
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 $106,675
Demand deposits $93,883
Nontransaction accounts $1,216,755
Money market deposit accounts (MMDAs) $1,118,255
Other savings deposits (excluding MMDAs) $7,495
Total time deposits $91,006
Total time and savings deposits $1,229,547
Noninterest-bearing deposits $516,526
Interest-bearing deposits $806,905
Retail deposits $1,302,345
IRAs and Keogh plan accounts $12,747
Brokered deposits $1,759
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,551,206
Cash & Balances due from depository institutions $12,867
Interest-bearing balances $6,904
Total securities $380,084
Federal funds sold & reverse repurchase $0
Net loans and leases $1,086,670
Loan and leases loss allowance $9,067
Trading account assets $0
Bank premises and fixed assets $22,012
Other real estate owned $0
Goodwill and other intangibles $23,750
All other assets $25,823

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,551,206
Total Liabilities $1,404,509
Total deposits $1,323,430
Interest-bearing deposits $806,905
Deposits held in domestic offices $1,323,430
% insured (estimated) $56
Federal funds purchased and repurchase agreements $33,000
Trading liabilities $0
Other borrowed funds $30,000
Subordinated debt $0
All other liabilities $18,079

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,086,670
Loan and leases loss allowance $9,067
Total loans and leases (domestic) $1,095,737
All real estate loans $900,153
Real estate loans in domestic offices $900,153
Construction and development loans $31,098
Residential 1-4 family construction $4,988
Other construction, all land development and other land $26,110
Loans secured by nonfarm nonresidential properties $438,309
Nonfarm nonresidential secured by owner-occupied properties $140,882
Commercial real estate & other non-farm, non-residential $297,427
Multifamily residential real estate $82,257
1-4 family residential loans $348,029
Farmland loans $460
Loans held in foreign offices $0
Farm loans $94
Commercial and industrial loans $156,473
To non-U.S. addressees $0
Loans to individuals $35,554
Credit card loans $0
Related Plans $1,283
Consumer Auto Loans $158
Other loans to individuals $34,113
All other loans & leases $3,463
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 $1,193
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Mahopac Bank had $1,086,670,000 of loans outstanding in 2021. $900,153,000 of loans were in real estate loans. $31,098,000 of loans were in development loans. $82,257,000 of loans were in multifamily mortgage loans. $348,029,000 of loans were in 1-4 family mortgage loans. $94,000 of loans were in farm loans. $0 of loans were in credit card loans. $158,000 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 284 $89,358 $314,641
Nonfarm, nonresidential loans - <$100k 4 $74 $18,500
Nonfarm, nonresidential loans - $100-250k 54 $6,582 $121,889
Nonfarm, nonresidential loans - $250k-1MM 226 $82,702 $365,938
Commercial & Industrial, US addressed loans - <$1MM 927 $112,066 $120,891
Commercial & Industrial, US addressed loans - <$100k 522 $18,996 $36,391
Commercial & Industrial, US addressed loans - $100-250k 209 $25,842 $123,646
Commercial & Industrial, US addressed loans - $250k-1MM 196 $67,228 $343,000
Farmland loans - <$1MM 3 $460 $153,333
Farmland loans - <$100k 1 $68 $68,000
Farmland loans - $250k-1MM 2 $392 $196,000
Agriculture operations loans - <$1MM 1 $94 $94,000
Agriculture operations loans - <$100k 1 $94 $94,000