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, Refi, and Cash Out Refi loans. Generations Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) 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 above 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

    112

    Origination Dollar Volume (All Markets)

    $14,680,000

    Employee count

    94

    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) 50 $7,070,000 $141,400 $0 0.00%
    Auburn, NY (FHA|USDA|VA) 19 $2,675,000 $140,789 $0 0.00%
    Seneca Falls, NY (FHA|USDA|VA) 28 $2,590,000 $92,500 $0 0.00%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 7 $925,000 $132,143 $0 0.00%
    SYRACUSE, NY (FHA|USDA|VA) 4 $760,000 $190,000 $0 0.00%
    Outside of Metro Areas 2 $300,000 $150,000 $0 0.00%
    Corning, NY (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 1 $105,000 $105,000 $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 108 $14,270,000 $132,130 $0 0.00%
    FHA 4 $410,000 $102,500 $0 0.00%

    For 2020, Generations Bank's most frequently originated type of loan was Conventional, with 108 originations. Their 2nd most popular type was FHA, with 4 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 42 $5,670,000 $135,000 $0 0.00%
    Refi 36 $4,930,000 $136,944 $0 0.00%
    Cash Out Refi 31 $3,935,000 $126,935 $0 0.00%
    Other 3 $145,000 $48,333 $0 0.00%

    For 2020, Generations Bank's most frequently cited loan purpose was Home Purchase, with 42 originations. The 2nd most popular reason was Refi, with 36 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 112 $14,680,000 $131,071 $0 0.00%

    For 2020, Generations Bank's most frequently cited loan duration was Other, with 112 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 51 $7,215,000 $141,471 $0 0.00%
    $100,000 or less 43 $2,985,000 $69,419 $0 0.00%
    $200k-400k 18 $4,480,000 $248,889 $0 0.00%

    2020 saw Generations Bank place emphasis on $100k-200k loans with 51 originations, totaling $7,215,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $75k-100k 27 $3,065,000 $113,519 $0 0.00%
    $100k-150k 26 $4,330,000 $166,538 $0 0.00%
    $50k-75k 24 $2,680,000 $111,667 $0 0.00%
    $50k or less 16 $1,210,000 $75,625 $0 0.00%
    $150k-250k 7 $1,415,000 $202,143 $0 0.00%
    $250k+ 5 $1,195,000 $239,000 $0 0.00%

    Generations Bank lent most frequently to those with incomes in the $75k-100k range, with 27 originations. The second most popular income band? $100k-150k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 112 $14,680,000 $131,071 $0 0.00%

    Generations Bank lent most frequently to those with DTI ratios of Exempt%, with 112 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 108 $14,150,000 $131,019 $0 0.00%
    Black 2 $230,000 $115,000 $0 0.00%
    Asian 1 $215,000 $215,000 $0 0.00%
    Not provided 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.84%

    Generations 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
    83.93%

    Generations Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 112 $14,680,000 $131,071

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $415,000 $83,000
    Single Family (1-4 Units):Site-Built 107 $14,265,000 $133,318

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Generations Bank 10 Osborne Street Auburn, NY 13021 Full Service B&M $1,699
    Generations Bank 11182 Maple Ridge Road Medina, NY 14103 Full Service B&M $60,572
    Generations Bank 152 Cayuga Street Union Springs, NY 13160 Full Service B&M $18,758
    Generations Bank 1865 North Road Waterloo, NY 13165 Full Service B&M $24,960
    Generations Bank 19 Cayuga Street Seneca Falls, NY 13148 Full Service B&M $112,841
    Generations Bank 342 Hamilton Street Geneva, NY 14456 Full Service B&M $36,722
    Generations Bank 6120 State Route 96 Farmington, NY 14425 Full Service B&M $4,770
    Generations Bank 621-631 North Seward Avenue Auburn, NY 13021 Full Service B&M $39,320
    Generations Bank 89 Main Street Phelps, NY 14532 Full Service B&M $7,812

    For 2020, Generations Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,553
    Net interest income $10,693
    Total noninterest income $2,755
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $577
    Trading account gains and fees $0
    Additional Noninterest Income $2,178
    Pre-tax net operating income $985
    Securities gains (or losses, -) $947
    Income before extraordinary items $1,763
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,763
    Minority interest net income $0
    Net income $1,763
    Sale, conversion, retirement of capital stock, net $62
    Net operating income $901

    Generations Bank's gross interest income from loans was $13,553,000.
    Generations Bank's net interest income from loans was $10,693,000.
    Generations Bank's fee based income from loans was $577,000.
    Generations Bank's net income from loans was $1,763,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,860
    Provision for credit losses $480
    Total noninterest expense $11,983
    Salaries and employee benefits $5,582
    Premises and equipment expense $1,982
    Additional noninterest expense $4,419
    Applicable income taxes $169
    Net charge-offs $319
    Cash dividends $0

    Generations Bank's interest expense for loans was $2,860,000.
    Generations Bank's payroll and benefits expense were $5,582,000.
    Generations Bank's property, plant and equipment expenses $1,982,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 4.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 4.0%
    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 $312,101
    Deposits held in domestic offices $312,101
    Deposits by Individuals, partnerships, and corporations $292,864
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $18,509
    Deposits by Commercial banks and other depository institutions in U.S. $728
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $100,533
    Demand deposits $90,798
    Nontransaction accounts $211,568
    Money market deposit accounts (MMDAs) $26,334
    Other savings deposits (excluding MMDAs) $101,747
    Total time deposits $83,487
    Total time and savings deposits $221,303
    Noninterest-bearing deposits $65,787
    Interest-bearing deposits $246,314
    Retail deposits $289,801
    IRAs and Keogh plan accounts $10,334
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $373,874
    Cash & Balances due from depository institutions $26,830
    Interest-bearing balances $22,662
    Total securities $19,432
    Federal funds sold & reverse repurchase $0
    Net loans and leases $285,966
    Loan and leases loss allowance $1,821
    Trading account assets $0
    Bank premises and fixed assets $16,743
    Other real estate owned $45
    Goodwill and other intangibles $1,660
    All other assets $23,198

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $373,874
    Total Liabilities $341,707
    Total deposits $312,101
    Interest-bearing deposits $246,314
    Deposits held in domestic offices $312,101
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $27,628
    Subordinated debt $0
    All other liabilities $1,978

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $285,966
    Loan and leases loss allowance $1,821
    Total loans and leases (domestic) $287,787
    All real estate loans $174,620
    Real estate loans in domestic offices $174,620
    Construction and development loans $0
    Residential 1-4 family construction $0
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $24,754
    Nonfarm nonresidential secured by owner-occupied properties $12,299
    Commercial real estate & other non-farm, non-residential $12,455
    Multifamily residential real estate $5,125
    1-4 family residential loans $139,465
    Farmland loans $5,276
    Loans held in foreign offices $0
    Farm loans $148
    Commercial and industrial loans $15,451
    To non-U.S. addressees $0
    Loans to individuals $97,568
    Credit card loans $0
    Related Plans $87
    Consumer Auto Loans $22,533
    Other loans to individuals $74,948
    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 $2,550
    Non 1-4 family restructured loans & leases $2,550
    Total loans and leases (foreign) $0

    Generations Bank had $285,966,000 of loans outstanding in 2020. $174,620,000 of loans were in real estate loans. $0 of loans were in development loans. $5,125,000 of loans were in multifamily mortgage loans. $139,465,000 of loans were in 1-4 family mortgage loans. $148,000 of loans were in farm loans. $0 of loans were in credit card loans. $22,533,000 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 73 $12,712 $174,137
    Nonfarm, nonresidential loans - <$100k 22 $1,008 $45,818
    Nonfarm, nonresidential loans - $100-250k 23 $2,780 $120,870
    Nonfarm, nonresidential loans - $250k-1MM 28 $8,924 $318,714
    Commercial & Industrial, US addressed loans - <$1MM 277 $15,380 $55,523
    Commercial & Industrial, US addressed loans - <$100k 225 $4,429 $19,684
    Commercial & Industrial, US addressed loans - $100-250k 29 $2,480 $85,517
    Commercial & Industrial, US addressed loans - $250k-1MM 23 $8,471 $368,304
    Farmland loans - <$1MM 2 $653 $326,500
    Farmland loans - $250k-1MM 2 $653 $326,500
    Agriculture operations loans - <$1MM 4 $148 $37,000
    Agriculture operations loans - <$100k 2 $5 $2,500
    Agriculture operations loans - $100-250k 2 $143 $71,500