Generations Bank Mortgage Rates, Fees & Info

Seneca Falls, NY

LEI: 254900YV0O58MHFPZV28

Tax ID: 15-0443420

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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, Cash Out Refi, and Refi loans. Generations Bank has a high proportion of conventional loans. Their top markets by origination volume include: Rochester, Seneca Falls, Auburn, Buffalo, and Corning 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    89

    Origination Dollar Volume (All Markets)

    $12,225,000

    Employee count

    85

    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) 40 $5,500,000 $137,500 $0 0.00%
    Seneca Falls, NY (FHA|USDA|VA) 19 $2,335,000 $122,895 $0 0.00%
    Auburn, NY (FHA|USDA|VA) 18 $2,290,000 $127,222 $0 0.00%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 4 $990,000 $247,500 $0 0.00%
    Corning, NY (FHA|USDA|VA) 4 $490,000 $122,500 $0 0.00%
    SYRACUSE, NY (FHA|USDA|VA) 2 $320,000 $160,000 $0 0.00%
    Outside of Metro Areas 1 $165,000 $165,000 $0 0.00%
    ELMIRA, NY (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    Generations Bank's top markets include Rochester, Seneca Falls, Auburn, Buffalo, and Corning 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 89 $12,225,000 $137,360 $0 0.00%

    For 2021, Generations Bank's most frequently originated type of loan was Conventional, with 89 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 38 $4,860,000 $127,895 $0 0.00%
    Cash Out Refi 28 $4,280,000 $152,857 $0 0.00%
    Refi 20 $2,780,000 $139,000 $0 0.00%
    Other 3 $305,000 $101,667 $0 0.00%

    For 2021, Generations Bank's most frequently cited loan purpose was Home Purchase, with 38 originations. The 2nd most popular reason was Cash Out Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 89 $12,225,000 $137,360 $0 0.00%

    For 2021, Generations Bank's most frequently cited loan duration was Other, with 89 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 45 $6,675,000 $148,333 $0 0.00%
    $100,000 or less 29 $1,825,000 $62,931 $0 0.00%
    $200k-400k 15 $3,725,000 $248,333 $0 0.00%

    2021 saw Generations Bank place emphasis on $100k-200k loans with 45 originations, totaling $6,675,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 21 $2,715,000 $129,286 $0 0.00%
    $50k or less 21 $1,495,000 $71,190 $0 0.00%
    $75k-100k 18 $2,560,000 $142,222 $0 0.00%
    $100k-150k 13 $2,155,000 $165,769 $0 0.00%
    $150k-250k 11 $2,395,000 $217,727 $0 0.00%
    $250k+ 2 $480,000 $240,000 $0 0.00%

    Generations Bank lent most frequently to those with incomes in the $50k-75k range, with 21 originations. The second most popular income band? $50k or less, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 89 $12,225,000 $137,360 $0 0.00%

    Generations Bank lent most frequently to those with DTI ratios of Exempt%, with 89 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 89 $12,225,000 $137,360 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.58%

    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
    82.02%

    Generations Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 89 $12,225,000 $137,360

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    89 $12,225,000 $137,360

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Generations Bank 10 Osborne Street Auburn, NY 13021 Full Service B&M $3,025
    Generations Bank 11182 Maple Ridge Road Medina, NY 14103 Full Service B&M $57,051
    Generations Bank 152 Cayuga Street Union Springs, NY 13160 Full Service B&M $16,857
    Generations Bank 1865 North Road Waterloo, NY 13165 Full Service B&M $24,753
    Generations Bank 19 Cayuga Street Seneca Falls, NY 13148 Full Service B&M $114,499
    Generations Bank 342 Hamilton Street Geneva, NY 14456 Full Service B&M $39,490
    Generations Bank 6120 State Route 96 Farmington, NY 14425 Full Service B&M $5,128
    Generations Bank 621-631 North Seward Avenue Auburn, NY 13021 Full Service B&M $46,117
    Generations Bank 89 Main Street Phelps, NY 14532 Full Service B&M $8,154

    For 2021, Generations Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,754
    Net interest income $12,056
    Total noninterest income $2,424
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $555
    Trading account gains and fees $0
    Additional Noninterest Income $1,869
    Pre-tax net operating income $1,667
    Securities gains (or losses, -) $17
    Income before extraordinary items $1,402
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,402
    Minority interest net income $0
    Net income $1,402
    Sale, conversion, retirement of capital stock, net $31
    Net operating income $1,387

    Generations Bank's gross interest income from loans was $13,754,000.
    Generations Bank's net interest income from loans was $12,056,000.
    Generations Bank's fee based income from loans was $555,000.
    Generations Bank's net income from loans was $1,402,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,698
    Provision for credit losses $540
    Total noninterest expense $12,273
    Salaries and employee benefits $5,281
    Premises and equipment expense $2,275
    Additional noninterest expense $4,717
    Applicable income taxes $282
    Net charge-offs $520
    Cash dividends $0

    Generations Bank's interest expense for loans was $1,698,000.
    Generations Bank's payroll and benefits expense were $5,281,000.
    Generations Bank's property, plant and equipment expenses $2,275,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 2.0%
    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 $316,376
    Deposits held in domestic offices $316,376
    Deposits by Individuals, partnerships, and corporations $289,143
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $26,469
    Deposits by Commercial banks and other depository institutions in U.S. $764
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $98,278
    Demand deposits $89,975
    Nontransaction accounts $218,098
    Money market deposit accounts (MMDAs) $31,333
    Other savings deposits (excluding MMDAs) $111,030
    Total time deposits $75,735
    Total time and savings deposits $226,401
    Noninterest-bearing deposits $59,606
    Interest-bearing deposits $256,770
    Retail deposits $273,209
    IRAs and Keogh plan accounts $9,850
    Brokered deposits $19,003
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $378,287
    Cash & Balances due from depository institutions $21,648
    Interest-bearing balances $17,597
    Total securities $38,137
    Federal funds sold & reverse repurchase $0
    Net loans and leases $278,120
    Loan and leases loss allowance $1,841
    Trading account assets $0
    Bank premises and fixed assets $15,345
    Other real estate owned $27
    Goodwill and other intangibles $1,592
    All other assets $23,418

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $378,287
    Total Liabilities $336,478
    Total deposits $316,376
    Interest-bearing deposits $256,770
    Deposits held in domestic offices $316,376
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $17,760
    Subordinated debt $0
    All other liabilities $2,342

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $278,120
    Loan and leases loss allowance $1,841
    Total loans and leases (domestic) $279,961
    All real estate loans $149,881
    Real estate loans in domestic offices $149,881
    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 $21,477
    Nonfarm nonresidential secured by owner-occupied properties $11,137
    Commercial real estate & other non-farm, non-residential $10,340
    Multifamily residential real estate $456
    1-4 family residential loans $123,249
    Farmland loans $4,699
    Loans held in foreign offices $0
    Farm loans $133
    Commercial and industrial loans $7,793
    To non-U.S. addressees $0
    Loans to individuals $122,154
    Credit card loans $0
    Related Plans $104
    Consumer Auto Loans $23,698
    Other loans to individuals $98,352
    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 $2,968
    Non 1-4 family restructured loans & leases $2,713
    Total loans and leases (foreign) $0

    Generations Bank had $278,120,000 of loans outstanding in 2021. $149,881,000 of loans were in real estate loans. $0 of loans were in development loans. $456,000 of loans were in multifamily mortgage loans. $123,249,000 of loans were in 1-4 family mortgage loans. $133,000 of loans were in farm loans. $0 of loans were in credit card loans. $23,698,000 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 65 $11,301 $173,862
    Nonfarm, nonresidential loans - <$100k 18 $765 $42,500
    Nonfarm, nonresidential loans - $100-250k 22 $2,639 $119,955
    Nonfarm, nonresidential loans - $250k-1MM 25 $7,897 $315,880
    Commercial & Industrial, US addressed loans - <$1MM 99 $7,647 $77,242
    Commercial & Industrial, US addressed loans - <$100k 70 $1,350 $19,286
    Commercial & Industrial, US addressed loans - $100-250k 11 $1,031 $93,727
    Commercial & Industrial, US addressed loans - $250k-1MM 18 $5,266 $292,556
    Farmland loans - <$1MM 2 $601 $300,500
    Farmland loans - $250k-1MM 2 $601 $300,500
    Agriculture operations loans - <$1MM 2 $133 $66,500
    Agriculture operations loans - <$100k 2 $133 $66,500