Mahopac Bank Mortgage Rates, Fees & Info

Mahopac, NY

LEI: 254900QLWNRZD8ZK6O36

Tax ID: 14-0855737

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Mortgage Data

Bank Data

Review & 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 by origination volume include: New York, Poughkeepsie, Bridgeport, Glens Falls, and Torrington among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Mahopac Bank 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.

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Originations

216

Origination Dollar Volume (All Markets)

$114,230,000

Employee count

113

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
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.

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

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

    For 2021, Mahopac Bank's most frequently originated type of loan was Conventional, with 216 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Mahopac Bank's most frequently cited loan purpose was Home Purchase, with 82 originations. The 2nd most popular reason was 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 2021, Mahopac Bank's most frequently cited loan duration was 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
    96.17%

    Mahopac Bank 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
    95.37%

    Mahopac Bank 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
    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 100 Independent Way (Rte 312) Brewster, NY 10509 Full Service B&M $55,474
    Mahopac Bank 1086 North Broadway Yonkers, NY 10701 Full Service B&M $53,820
    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
    Mahopac Bank 831 Route 82 Hopewell Junction, NY 12533 Full Service B&M $123,549

    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