Generations Bank Mortgage Rates, Fees & Info

Seneca Falls, NY

LEI: 254900YV0O58MHFPZV28

Tax ID: 15-0443420

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Mortgage Data

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

    Generations Bank is a smaller bank specializing in Home Purchase loans. Generations Bank has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Auburn, Seneca Falls, Buffalo, and Syracuse among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Generations Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    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.

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    Originations

    122

    Origination Dollar Volume (All Markets)

    $14,010,000

    Employee count

    119

    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
    ROCHESTER, NY (FHA|USDA|VA) 54 $6,180,000 $114,444 $0 0.00%
    Auburn, NY (FHA|USDA|VA) 24 $3,050,000 $127,083 $0 0.00%
    Seneca Falls, NY (FHA|USDA|VA) 25 $1,875,000 $75,000 $0 0.00%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 9 $1,405,000 $156,111 $0 0.00%
    SYRACUSE, NY (FHA|USDA|VA) 4 $740,000 $185,000 $0 0.00%
    Corning, NY (FHA|USDA|VA) 3 $545,000 $181,667 $0 0.00%
    Outside of Metro Areas 1 $155,000 $155,000 $0 0.00%
    Batavia, NY (FHA|USDA|VA) 2 $60,000 $30,000 $0 0.00%
    Generations Bank's top markets include Rochester, Auburn, Seneca Falls, Buffalo, and Syracuse among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 122 $14,010,000 $114,836 $0 0.00%

    For 2018, Generations Bank's most frequently originated type of loan was Conventional, with 122 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 79 $10,865,000 $137,532 $0 0.00%
    Cash Out Refi 23 $1,675,000 $72,826 $0 0.00%
    Home Improvement 11 $615,000 $55,909 $0 0.00%
    Refi 7 $755,000 $107,857 $0 0.00%
    Other 2 $100,000 $50,000 $0 0.00%

    For 2018, Generations Bank's most frequently cited loan purpose was Home Purchase, with 79 originations. The 2nd most popular reason was Cash Out Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 122 $14,010,000 $114,836 $0 0.00%

    For 2018, Generations Bank's most frequently cited loan duration was Other, with 122 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 70 $3,820,000 $54,571 $0 0.00%
    $100k-200k 34 $5,050,000 $148,529 $0 0.00%
    $200k-400k 16 $4,080,000 $255,000 $0 0.00%
    $400k-600k 2 $1,060,000 $530,000 $0 0.00%

    2018 saw Generations Bank place emphasis on $100,000 or less loans with 70 originations, totaling $3,820,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 35 $3,075,000 $87,857 $0 0.00%
    $50k or less 31 $2,115,000 $68,226 $0 0.00%
    $100k-150k 21 $2,955,000 $140,714 $0 0.00%
    $75k-100k 16 $1,820,000 $113,750 $0 0.00%
    $150k-250k 12 $3,350,000 $279,167 $0 0.00%
    $250k+ 1 $225,000 $225,000 $0 0.00%

    Generations Bank lent most frequently to those with incomes in the $50k-75k range, with 35 originations. The second most popular income band? $50k or less, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 122 $14,010,000 $114,836 $0 0.00%

    Generations Bank lent most frequently to those with DTI ratios of Exempt%, with 122 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 117 $13,585,000 $116,111 $0 0.00%
    Not applicable 4 $310,000 $77,500 $0 0.00%
    Asian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.00%

    Generations Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.25%

    Generations Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 122 $14,010,000 $114,836

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 3 $295,000 $98,333
    Single Family (1-4 Units):Site-Built 119 $13,715,000 $115,252

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Generations Bank 10 Osborne Street Auburn, NY 13021 Full Service B&M $2,001
    Generations Bank 152 Cayuga Street Union Springs, NY 13160 Full Service B&M $8,777
    Generations Bank 1865 North Road Waterloo, NY 13165 Full Service B&M $10,379
    Generations Bank 19 Cayuga Street Seneca Falls, NY 13148 Full Service B&M $99,394
    Generations Bank 342 Hamilton Street Geneva, NY 14456 Full Service B&M $37,646
    Generations Bank 59 Washington Street Waterloo, NY 13165 Full Service B&M $10,766
    Generations Bank 6120 State Route #96 Farmington, NY 14425 Full Service B&M $3,483
    Generations Bank 621-631 North Seward Avenue Auburn, NY 13021 Full Service B&M $37,700
    Generations Bank 89 Main Street Phelps, NY 14532 Full Service B&M $6,239

    For 2018, Generations Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,811
    Net interest income $9,231
    Total noninterest income $2,608
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $577
    Trading account gains and fees $0
    Additional Noninterest Income $2,031
    Pre-tax net operating income $-271
    Securities gains (or losses, -) $-441
    Income before extraordinary items $-566
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $-566
    Minority interest net income $0
    Net income $-566
    Sale, conversion, retirement of capital stock, net $62
    Net operating income $-217

    Generations Bank's gross interest income from loans was $11,811,000.
    Generations Bank's net interest income from loans was $9,231,000.
    Generations Bank's fee based income from loans was $577,000.
    Generations Bank's net income from loans was $-566,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,580
    Provision for credit losses $175
    Total noninterest expense $11,935
    Salaries and employee benefits $6,027
    Premises and equipment expense $1,973
    Additional noninterest expense $3,935
    Applicable income taxes $-146
    Net charge-offs $1,110
    Cash dividends $0

    Generations Bank's interest expense for loans was $2,580,000.
    Generations Bank's payroll and benefits expense were $6,027,000.
    Generations Bank's property, plant and equipment expenses $1,973,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    Commercial & industrial loans 10.0%
    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 $263,439
    Deposits held in domestic offices $263,439
    Deposits by Individuals, partnerships, and corporations $262,337
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $854
    Deposits by Commercial banks and other depository institutions in U.S. $248
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $65,010
    Demand deposits $59,386
    Nontransaction accounts $198,429
    Money market deposit accounts (MMDAs) $21,732
    Other savings deposits (excluding MMDAs) $93,406
    Total time deposits $83,292
    Total time and savings deposits $204,053
    Noninterest-bearing deposits $38,737
    Interest-bearing deposits $224,702
    Retail deposits $227,541
    IRAs and Keogh plan accounts $7,560
    Brokered deposits $5,227
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $318,448
    Cash & Balances due from depository institutions $9,114
    Interest-bearing balances $3,109
    Total securities $25,385
    Federal funds sold & reverse repurchase $0
    Net loans and leases $244,426
    Loan and leases loss allowance $1,548
    Trading account assets $0
    Bank premises and fixed assets $18,489
    Other real estate owned $50
    Goodwill and other intangibles $1,786
    All other assets $19,198

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $318,448
    Total Liabilities $290,293
    Total deposits $263,439
    Interest-bearing deposits $224,702
    Deposits held in domestic offices $263,439
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $25,570
    Subordinated debt $0
    All other liabilities $1,284

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $244,426
    Loan and leases loss allowance $1,548
    Total loans and leases (domestic) $245,974
    All real estate loans $189,417
    Real estate loans in domestic offices $189,417
    Construction and development loans $1,712
    Residential 1-4 family construction $930
    Other construction, all land development and other land $782
    Loans secured by nonfarm nonresidential properties $30,216
    Nonfarm nonresidential secured by owner-occupied properties $10,873
    Commercial real estate & other non-farm, non-residential $19,343
    Multifamily residential real estate $5,756
    1-4 family residential loans $146,421
    Farmland loans $5,312
    Loans held in foreign offices $0
    Farm loans $2,336
    Commercial and industrial loans $15,573
    To non-U.S. addressees $0
    Loans to individuals $38,648
    Credit card loans $0
    Related Plans $155
    Consumer Auto Loans $14,721
    Other loans to individuals $23,772
    All other loans & leases $0
    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 $1,470
    Non 1-4 family restructured loans & leases $1,470
    Total loans and leases (foreign) $0

    Generations Bank had $244,426,000 of loans outstanding in 2018. $189,417,000 of loans were in real estate loans. $1,712,000 of loans were in development loans. $5,756,000 of loans were in multifamily mortgage loans. $146,421,000 of loans were in 1-4 family mortgage loans. $2,336,000 of loans were in farm loans. $0 of loans were in credit card loans. $14,721,000 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 87 $16,028 $184,230
    Nonfarm, nonresidential loans - <$100k 30 $1,144 $38,133
    Nonfarm, nonresidential loans - $100-250k 27 $3,342 $123,778
    Nonfarm, nonresidential loans - $250k-1MM 30 $11,542 $384,733
    Commercial & Industrial, US addressed loans - <$1MM 217 $14,199 $65,433
    Commercial & Industrial, US addressed loans - <$100k 162 $3,170 $19,568
    Commercial & Industrial, US addressed loans - $100-250k 34 $2,380 $70,000
    Commercial & Industrial, US addressed loans - $250k-1MM 21 $8,649 $411,857
    Farmland loans - <$1MM 2 $580 $290,000
    Farmland loans - $250k-1MM 2 $580 $290,000
    Agriculture operations loans - <$1MM 5 $178 $35,600
    Agriculture operations loans - <$100k 3 $41 $13,667
    Agriculture operations loans - $100-250k 2 $137 $68,500