Pathfinder Bank Mortgage Rates, Fees & Info

Oswego, NY

LEI: 254900WBNJ2MGXXXDY75

Tax ID: 15-0408130

5 stars - out of 5 stars, based on 21 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Pathfinder Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Pathfinder Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets include Syracuse, Utica, Watertown, Port St. Lucie, and Miami among others. Pathfinder 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. Pathfinder Bank is typically a low fee lendor.


Originations

428

Origination Dollar Volume (All Markets)

$94,660,000

Employee count

161

Awards

Pathfinder Bank 30 Year Conventional Loans gold Pathfinder Bank 30 Year Conventional Loans bronze
Show all (2) awards

Relative Rate

Pathfinder Bank's average 30 year fixed rate mortgage of loans were 3.35%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.2%.

Relative Fees

Pathfinder Bank's average total fees for a 30 year fixed rate mortgage are $2,878.

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
SYRACUSE, NY (FHA|USDA|VA) 382 $79,240,000 $207,435 $3,094 3.40%
UTICA-ROME, NY (FHA|USDA|VA) 13 $3,605,000 $277,308 $4,220 3.47%
WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 3 $2,135,000 $711,667 $3,736 3.73%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $1,535,000 $1,535,000 $10,471 3.13%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,400,000 $700,000 $5,891 2.98%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $1,300,000 $325,000 $2,490 3.13%
Auburn, NY (FHA|USDA|VA) 6 $1,040,000 $173,333 $3,602 3.10%
ROCHESTER, NY (FHA|USDA|VA) 6 $1,000,000 $166,667 $2,887 3.17%
Malone, NY (FHA|USDA|VA) 5 $945,000 $189,000 $2,644 2.78%
Outside of Metro Areas 2 $840,000 $420,000 $4,189 3.13%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $745,000 $745,000 $6,427 3.13%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 1 $345,000 $345,000 $2,567 2.88%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 1 $295,000 $295,000 $2,884 2.63%
ELMIRA, NY (FHA|USDA|VA) 1 $235,000 $235,000 $3,183 3.25%

Pathfinder Bank's top markets include Syracuse, Utica, Watertown, Port St. Lucie, and Miami among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 427 $94,575,000 $221,487 $3,168 3.38%
USDA 1 $85,000 $85,000 $3,568 3.00%

For the 2021 period, Pathfinder Bank's most frequently originated loan type of loans were Conventional, with 427 originations. Their 2nd most popular type is USDA, with 1 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 227 $54,375,000 $239,537 $4,253 3.45%
Cash Out Refi 131 $19,705,000 $150,420 $2,308 3.35%
Refi 53 $10,855,000 $204,811 $1,459 2.90%
Home Improvement 12 $9,310,000 $775,833 $212 4.66%
Other 5 $415,000 $83,000 $2,513 3.28%

For the 2021, Pathfinder Bank's most frequently cited loan purpose of loans were Home Purchase, with 227 originations. The 2nd most popular reason of loans were Cash Out Refi, with 131 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 130 $25,080,000 $192,923 $2,878 3.35%
20 Year 90 $16,040,000 $178,222 $2,518 3.74%
15 Year 81 $10,555,000 $130,309 $1,945 3.15%
30+ year 64 $27,140,000 $424,063 $6,636 3.30%
Other 33 $13,805,000 $418,333 $3,848 3.26%
10 Year 24 $1,850,000 $77,083 $1,373 3.21%
5 Year 6 $190,000 $31,667 $172 4.33%

For the 2021, Pathfinder Bank's most frequently cited loan length of loans were 30 Year, with 130 originations. The 2nd most popular length of loans were 20 Year, with 90 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 292 $48,820,000 $167,192
$3k-4k 60 $24,590,000 $409,833
$1k-2k 18 $2,000,000 $111,111
$2k-3k 14 $2,470,000 $176,429
$5k+ 3 $1,725,000 $575,000

$2,878 of loans were Pathfinder Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 292 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 214 $50,050,000 $233,879
2.5-3% 72 $16,130,000 $224,028
<2.5% 66 $10,730,000 $162,576
4-5% 55 $12,375,000 $225,000
5-6% 19 $5,235,000 $275,526
6-7% 2 $140,000 $70,000

During 2021, Pathfinder Bank's average interest rate of loans were 3.35%, while their most frequently originated rate bucket of loans were 3-4%, with 214 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 148 $21,130,000 $142,770 $2,744 3.25%
$100,000 or less 134 $8,190,000 $61,119 $2,006 3.73%
$200k-400k 102 $29,310,000 $287,353 $3,877 3.11%
$400k-600k 21 $9,655,000 $459,762 $5,833 3.25%
$600k-1MM 15 $10,335,000 $689,000 $6,083 3.42%
$1MM+ 8 $16,040,000 $2,005,000 $10,527 3.82%

2021 saw Pathfinder Bank place emphasis on $100k-200k loans with 148 originations, totaling $21,130,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 97 $19,185,000 $197,784 $3,271 3.29%
$150k-250k 78 $20,890,000 $267,821 $3,772 3.24%
$50k-75k 68 $7,830,000 $115,147 $2,593 3.24%
$50k or less 63 $6,555,000 $104,048 $2,318 3.61%
$75k-100k 57 $8,675,000 $152,193 $2,852 3.34%
$250k+ 32 $16,500,000 $515,625 $4,937 3.03%

Pathfinder Bank lent most frequently to those with incomes in the $100k-150k range, with 97 originations. The second most popular income band? $150k-250k, with 78 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 113 $21,705,000 $192,080 $3,180 3.40%
30-36% 81 $16,685,000 $205,988 $3,395 3.21%
<20% 54 $11,230,000 $207,963 $2,943 3.17%
39% 17 $3,315,000 $195,000 $3,687 3.33%
37% 15 $2,825,000 $188,333 $2,929 3.57%
38% 15 $2,855,000 $190,333 $3,206 3.36%
42% 13 $1,725,000 $132,692 $2,426 3.33%
36% 13 $1,905,000 $146,538 $1,990 3.29%
40% 11 $2,055,000 $186,818 $1,847 3.08%
43% 11 $1,685,000 $153,182 $3,690 3.24%
45% 10 $2,780,000 $278,000 $3,789 3.39%
46% 9 $1,295,000 $143,889 $3,289 3.34%
>60% 8 $2,250,000 $281,250 $3,330 3.76%
41% 8 $3,380,000 $422,500 $4,783 3.34%
44% 7 $1,315,000 $187,857 $3,122 3.09%
49% 6 $1,490,000 $248,333 $2,618 3.08%
47% 3 $735,000 $245,000 $4,010 3.04%
48% 3 $875,000 $291,667 $3,741 3.19%
50-60% 3 $395,000 $131,667 $3,028 4.07%

Pathfinder Bank lent most frequently to those with DTI ratios of 20-30%, with 113 originations. The next most common DTI ratio? 30-36%, with 81 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 375 $75,805,000 $202,147 $3,174 3.28%
Not applicable 23 $13,345,000 $580,217 $0 4.78%
Black 14 $2,590,000 $185,000 $3,741 3.60%
Not provided 11 $1,635,000 $148,636 $2,692 3.64%
Asian 5 $1,285,000 $257,000 $2,231 3.70%

Approval Rates

Total approvals of all applications
91.97%

Pathfinder Bank has an average approval rate.

Pick Rate

Approvals leading to origination
91.51%

Pathfinder Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 428 $94,660,000 $221,168

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
428 $94,660,000 $221,168

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 20 $1,940,000 $97,000 $793 4.16%
40-60% 43 $7,775,000 $180,814 $3,228 3.17%
60-80% 168 $41,320,000 $245,952 $2,975 3.36%
80-100% 151 $35,485,000 $235,000 $3,702 3.26%
Over 100% 3 $785,000 $261,667 $1,781 4.83%
Under 20% 13 $315,000 $24,231 $205 4.76%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Pathfinder Bank 291 State Route 104 East Oswego, NY 13126 Full Service B&M $66,189
Pathfinder Bank 109 West Fayette Street Syracuse, NY 13202 Full Service B&M $83,887
Pathfinder Bank 1897 Harwood Drive Lacona, NY 13083 Full Service B&M $67,162
Pathfinder Bank 214 West First Street Oswego, NY 13126 Full Service B&M $328,963
Pathfinder Bank 3025 East Avenue Central Square, NY 13036 Full Service B&M $109,062
Pathfinder Bank 3361 Main Street Mexico, NY 13114 Full Service B&M $109,685
Pathfinder Bank 34 East Bridge Street Oswego, NY 13126 Limited, Drive-thru $17,959
Pathfinder Bank 3775 Route 31 Liverpool, NY 13090 Full Service B&M $65,461
Pathfinder Bank 5 West 1st Street South Fulton, NY 13069 Full Service B&M $84,619
Pathfinder Bank 6194 State Route 31 Cicero, NY 13039 Full Service B&M $114,052

For 2021, Pathfinder Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $46,014
Net interest income $40,271
Total noninterest income $5,359
Gross Fiduciary activities income $0
Service charges on deposit accounts $1,491
Trading account gains and fees $0
Additional Noninterest Income $3,868
Pre-tax net operating income $17,944
Securities gains (or losses, -) $424
Income before extraordinary items $14,341
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $14,341
Minority interest net income $103
Net income $14,238
Sale, conversion, retirement of capital stock, net $0
Net operating income $14,006

Pathfinder Bank's gross interest income from loans was $46,014,000.
Pathfinder Bank's net interest income from loans was $40,271,000.
Pathfinder Bank's fee based income from loans was $1,491,000.
Pathfinder Bank's net income from loans was $14,238,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $5,743
Provision for credit losses $1,022
Total noninterest expense $26,664
Salaries and employee benefits $14,531
Premises and equipment expense $3,577
Additional noninterest expense $8,556
Applicable income taxes $4,027
Net charge-offs $864
Cash dividends $0

Pathfinder Bank's interest expense for loans was $5,743,000.
Pathfinder Bank's payroll and benefits expense were $14,531,000.
Pathfinder Bank's property, plant and equipment expenses $3,577,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 1.0%
Construction & Land Development loans 1.0%
Nonfarm, nonresidential loans 2.0%
Multifamily residential loans 1.0%
1-4 family residential loans 0.0%
HELOC loans 1.0%
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 $1,070,076
Deposits held in domestic offices $1,070,076
Deposits by Individuals, partnerships, and corporations $859,397
Deposits by U.S. Government $3
Deposits by States and political subdivisions in the U.S. $179,612
Deposits by Commercial banks and other depository institutions in U.S. $31,064
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $353,517
Demand deposits $205,482
Nontransaction accounts $716,559
Money market deposit accounts (MMDAs) $256,963
Other savings deposits (excluding MMDAs) $138,129
Total time deposits $321,467
Total time and savings deposits $864,594
Noninterest-bearing deposits $205,482
Interest-bearing deposits $864,593
Retail deposits $844,821
IRAs and Keogh plan accounts $19,529
Brokered deposits $157,805
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,281,614
Cash & Balances due from depository institutions $37,144
Interest-bearing balances $23,293
Total securities $351,301
Federal funds sold & reverse repurchase $0
Net loans and leases $819,534
Loan and leases loss allowance $12,935
Trading account assets $0
Bank premises and fixed assets $20,219
Other real estate owned $0
Goodwill and other intangibles $5,031
All other assets $48,385

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,281,614
Total Liabilities $1,159,373
Total deposits $1,070,076
Interest-bearing deposits $864,593
Deposits held in domestic offices $1,070,076
% insured (estimated) $70
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $80,134
Subordinated debt $0
All other liabilities $9,163

Issued Loan Types

Type Value (in 000's)
Net loans and leases $819,534
Loan and leases loss allowance $12,935
Total loans and leases (domestic) $832,469
All real estate loans $563,734
Real estate loans in domestic offices $563,734
Construction and development loans $32,589
Residential 1-4 family construction $6,329
Other construction, all land development and other land $26,260
Loans secured by nonfarm nonresidential properties $202,241
Nonfarm nonresidential secured by owner-occupied properties $77,708
Commercial real estate & other non-farm, non-residential $124,533
Multifamily residential real estate $52,545
1-4 family residential loans $276,270
Farmland loans $89
Loans held in foreign offices $0
Farm loans $72
Commercial and industrial loans $152,199
To non-U.S. addressees $0
Loans to individuals $108,889
Credit card loans $0
Related Plans $368
Consumer Auto Loans $11,087
Other loans to individuals $97,434
All other loans & leases $7,575
Loans to foreign governments and official institutions $0
Other loans $1,409
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 $3,739
Non 1-4 family restructured loans & leases $2,141
Total loans and leases (foreign) $0

Pathfinder Bank had $819,534,000 of loans outstanding in 2021. $563,734,000 of loans were in real estate loans. $32,589,000 of loans were in development loans. $52,545,000 of loans were in multifamily mortgage loans. $276,270,000 of loans were in 1-4 family mortgage loans. $72,000 of loans were in farm loans. $0 of loans were in credit card loans. $11,087,000 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 372 $68,746 $184,801
Nonfarm, nonresidential loans - <$100k 122 $6,555 $53,730
Nonfarm, nonresidential loans - $100-250k 127 $15,756 $124,063
Nonfarm, nonresidential loans - $250k-1MM 123 $46,435 $377,520
Commercial & Industrial, US addressed loans - <$1MM 1,119 $97,384 $87,028
Commercial & Industrial, US addressed loans - <$100k 710 $17,387 $24,489
Commercial & Industrial, US addressed loans - $100-250k 206 $21,562 $104,670
Commercial & Industrial, US addressed loans - $250k-1MM 203 $58,435 $287,857
Farmland loans - <$1MM 1 $89 $89,000
Farmland loans - <$100k 1 $89 $89,000
Agriculture operations loans - <$1MM 4 $71 $17,750
Agriculture operations loans - <$100k 4 $71 $17,750