Pioneer Bank Mortgage Rates, Fees & Info

Albany, NY

LEI: 549300256FCWXUM5FR50

Tax ID: 14-0970570

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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

    Pioneer Bank is a smaller bank specializing in Home Purchase loans. Pioneer Bank has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Poughkeepsie, Glens Falls, Hudson, and Amsterdam among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Pioneer 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

    254

    Origination Dollar Volume (All Markets)

    $90,690,000

    Employee count

    256

    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
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 242 $87,780,000 $362,727 $40 4.05%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $1,955,000 $1,955,000 $0 4.33%
    GLENS FALLS, NY (FHA|USDA|VA) 4 $370,000 $92,500 $0 3.72%
    Outside of Metro Areas 4 $300,000 $75,000 $0 4.00%
    Hudson, NY (FHA|USDA|VA) 2 $170,000 $85,000 $0 4.25%
    Amsterdam, NY (FHA|USDA|VA) 1 $115,000 $115,000 $0 4.00%
    Pioneer Bank's top markets include Albany, Poughkeepsie, Glens Falls, Hudson, and Amsterdam among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    HELOC 167 $14,365,000 $86,018 n/a 3.69%
    Conventional 87 $76,325,000 $877,299 $39 4.73%

    For 2018, Pioneer Bank's most frequently originated type of loan was HELOC, with 167 originations. Their 2nd most popular type was Conventional, with 87 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Other 95 $6,735,000 $70,895 $0 3.88%
    Refi 86 $10,530,000 $122,442 $55 4.16%
    Home Improvement 55 $6,925,000 $125,909 $0 3.91%
    Home Purchase 18 $66,500,000 $3,694,444 $390 4.80%

    For 2018, Pioneer Bank's most frequently cited loan purpose was Other, with 95 originations. The 2nd most popular reason was Refi, with 86 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 171 $33,585,000 $196,404 $0 3.71%
    10 Year 35 $51,275,000 $1,465,000 $0 4.96%
    15 Year 19 $1,725,000 $90,789 $82 4.61%
    20 Year 17 $1,815,000 $106,765 $63 4.85%
    5 Year 12 $2,290,000 $190,833 $0 4.14%

    For 2018, Pioneer Bank's most frequently cited loan duration was Other, with 171 originations. The 2nd most popular length was 10 Year, with 35 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 68 $4,970,000 $73,088

    Pioneer Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 68 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 173 $14,765,000 $85,347
    4-5% 65 $34,755,000 $534,692
    5-6% 9 $36,855,000 $4,095,000
    6-7% 7 $4,315,000 $616,429

    During 2018, Pioneer Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 173 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 161 $7,625,000 $47,360 $0 3.97%
    $100k-200k 64 $8,470,000 $132,344 $40 3.92%
    $200k-400k 17 $4,495,000 $264,412 $702 4.57%
    $1MM+ 7 $66,155,000 $9,450,714 $0 5.06%
    $600k-1MM 5 $3,945,000 $789,000 $0 4.80%

    2018 saw Pioneer Bank place emphasis on $100,000 or less loans with 161 originations, totaling $7,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 69 $5,935,000 $86,014 $8 3.90%
    $50k-75k 56 $4,120,000 $73,571 $25 3.94%
    $75k-100k 33 $2,535,000 $76,818 $30 4.06%
    $50k or less 32 $1,700,000 $53,125 $0 3.99%
    $150k-250k 30 $3,010,000 $100,333 $40 3.80%
    $250k+ 11 $1,915,000 $174,091 $492 3.94%

    Pioneer Bank lent most frequently to those with incomes in the $100k-150k range, with 69 originations. The second most popular income band? $50k-75k, with 56 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 62 $4,440,000 $71,613 $106 3.88%
    <20% 49 $3,855,000 $78,673 $0 3.94%
    30-36% 38 $2,940,000 $77,368 $18 3.95%
    41% 19 $1,535,000 $80,789 $0 3.95%
    42% 17 $1,635,000 $96,176 $44 4.26%
    37% 11 $1,325,000 $120,455 $6 4.02%
    39% 10 $950,000 $95,000 $79 4.14%
    38% 9 $795,000 $88,333 $0 3.42%
    43% 9 $1,025,000 $113,889 $0 3.74%
    40% 7 $635,000 $90,714 $0 3.77%
    36% 3 $195,000 $65,000 $0 4.50%
    >60% 2 $110,000 $55,000 $0 3.63%

    Pioneer Bank lent most frequently to those with DTI ratios of 20-30%, with 62 originations. The next most common DTI ratio? <20%, with 49 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 15 $70,455,000 $4,697,000 $0 5.37%
    White 228 $19,280,000 $84,561 $40 3.97%
    Asian 5 $545,000 $109,000 $43 3.70%
    Not provided 3 $335,000 $111,667 $0 3.58%
    Black 3 $75,000 $25,000 $0 4.04%

    Approval Rates

    Total approvals of all applications
    75.38%

    Pioneer Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    85.04%

    Pioneer Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 254 $90,690,000 $357,047

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $2,560,000 $1,280,000
    Multifamily:Site-Built 13 $67,935,000 $5,225,769
    Single Family (1-4 Units):Manufactured 1 $55,000 $55,000
    Single Family (1-4 Units):Site-Built 238 $20,140,000 $84,622

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 87 $9,065,000 $104,195 $20 3.93%
    40-60% 41 $7,105,000 $173,293 $166 4.05%
    60-80% 36 $55,660,000 $1,546,111 $34 4.54%
    80-100% 9 $16,095,000 $1,788,333 $24 4.18%
    Under 20% 81 $2,765,000 $34,136 $0 3.93%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Pioneer Savings Bank 10 Kendall Way Malta, NY 12020 Full Service B&M $50,951
    Pioneer Savings Bank 100 Mohawk St Cohoes, NY 12047 Full Service B&M $34,082
    Pioneer Savings Bank 11565 Highway 32 Greenville, NY 12083 Full Service B&M $11,403
    Pioneer Savings Bank 142 Saratoga Avenue Waterford, NY 12188 Full Service B&M $55,605
    Pioneer Savings Bank 1761 Central Avenue Albany, NY 12205 Full Service B&M $55,402
    Pioneer Savings Bank 1828 Altamont Avenue Schenectady, NY 12303 Full Service B&M $112,989
    Pioneer Savings Bank 184 Delaware Avenue Delmar, NY 12054 Full Service B&M $20,207
    Pioneer Savings Bank 1883 Western Avenue Albany, NY 12203 Full Service B&M $28,519
    Pioneer Savings Bank 2000 Second Avenue Watervliet, NY 12189 Full Service B&M $85,549
    Pioneer Savings Bank 21 Second Street Troy, NY 12180 Full Service B&M $158,249
    Pioneer Savings Bank 329 Glenmont Road Glenmont, NY 12077 Full Service B&M $30,740
    Pioneer Savings Bank 426 State Street Schenectady, NY 12305 Full Service B&M $18,980
    Pioneer Savings Bank 440 Main Street Cairo, NY 12413 Full Service B&M $18,573
    Pioneer Savings Bank 531 Troy Schenectady Road Latham, NY 12110 Full Service B&M $134,515
    Pioneer Savings Bank 600 North Greenbush Road Rensselaer, NY 12144 Full Service B&M $34,847
    Pioneer Savings Bank 652 Albany Shaker Road Albany, NY 12211 Full Service B&M $49,859
    Pioneer Savings Bank 712 Hoosick Street Troy, NY 12180 Full Service B&M $104,183
    Pioneer Savings Bank 739 Upper Glen Street Queensbury, NY 12804 Full Service B&M $14,883
    Pioneer Savings Bank 78 Main Avenue Wynantskill, NY 12198 Full Service B&M $66,768
    Pioneer Savings Bank 843 Route 146 Clifton Park, NY 12065 Full Service B&M $25,053
    Pioneer Savings Bank 90 State Street Albany, NY 12207 Full Service B&M $12,517
    Pioneer Savings Bank Route 146 And Vischer Ferry Road Clifton Park, NY 12065 Full Service B&M $31,775

    For 2018, Pioneer Bank had 22 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $50,536
    Net interest income $46,778
    Total noninterest income $13,390
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,315
    Trading account gains and fees $0
    Additional Noninterest Income $10,075
    Pre-tax net operating income $21,024
    Securities gains (or losses, -) $10
    Income before extraordinary items $16,799
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $16,799
    Minority interest net income $0
    Net income $16,799
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $16,791

    Pioneer Bank's gross interest income from loans was $50,536,000.
    Pioneer Bank's net interest income from loans was $46,778,000.
    Pioneer Bank's fee based income from loans was $3,315,000.
    Pioneer Bank's net income from loans was $16,799,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,758
    Provision for credit losses $2,230
    Total noninterest expense $36,914
    Salaries and employee benefits $21,927
    Premises and equipment expense $5,735
    Additional noninterest expense $9,252
    Applicable income taxes $4,235
    Net charge-offs $1,168
    Cash dividends $0

    Pioneer Bank's interest expense for loans was $3,758,000.
    Pioneer Bank's payroll and benefits expense were $21,927,000.
    Pioneer Bank's property, plant and equipment expenses $5,735,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 4.0%
    Credit card loans 0.0%
    Other individual loans 4.0%
    Auto loans 0.0%
    Other consumer loans 12.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,119,866
    Deposits held in domestic offices $1,119,866
    Deposits by Individuals, partnerships, and corporations $903,362
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $216,505
    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 $123,147
    Demand deposits $86,898
    Nontransaction accounts $996,720
    Money market deposit accounts (MMDAs) $291,185
    Other savings deposits (excluding MMDAs) $581,454
    Total time deposits $124,081
    Total time and savings deposits $1,032,969
    Noninterest-bearing deposits $356,282
    Interest-bearing deposits $763,584
    Retail deposits $1,093,171
    IRAs and Keogh plan accounts $31,012
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,286,967
    Cash & Balances due from depository institutions $53,339
    Interest-bearing balances $25,340
    Total securities $111,419
    Federal funds sold & reverse repurchase $3,117
    Net loans and leases $1,028,920
    Loan and leases loss allowance $13,600
    Trading account assets $4,119
    Bank premises and fixed assets $42,010
    Other real estate owned $55
    Goodwill and other intangibles $10,268
    All other assets $33,720

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,286,968
    Total Liabilities $1,160,574
    Total deposits $1,119,866
    Interest-bearing deposits $763,584
    Deposits held in domestic offices $1,119,866
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $2,828
    Other borrowed funds $30,000
    Subordinated debt $0
    All other liabilities $7,880

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,028,920
    Loan and leases loss allowance $13,600
    Total loans and leases (domestic) $1,042,520
    All real estate loans $838,111
    Real estate loans in domestic offices $838,111
    Construction and development loans $99,039
    Residential 1-4 family construction $22,233
    Other construction, all land development and other land $76,806
    Loans secured by nonfarm nonresidential properties $280,836
    Nonfarm nonresidential secured by owner-occupied properties $85,833
    Commercial real estate & other non-farm, non-residential $195,003
    Multifamily residential real estate $63,642
    1-4 family residential loans $394,154
    Farmland loans $440
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $193,629
    To non-U.S. addressees $0
    Loans to individuals $637
    Credit card loans $0
    Related Plans $183
    Consumer Auto Loans $412
    Other loans to individuals $42
    All other loans & leases $10,142
    Loans to foreign governments and official institutions $0
    Other loans $740
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $27,097
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Pioneer Bank had $1,028,920,000 of loans outstanding in 2018. $838,111,000 of loans were in real estate loans. $99,039,000 of loans were in development loans. $63,642,000 of loans were in multifamily mortgage loans. $394,154,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $412,000 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 189 $63,676 $336,910
    Nonfarm, nonresidential loans - <$100k 24 $980 $40,833
    Nonfarm, nonresidential loans - $100-250k 48 $6,528 $136,000
    Nonfarm, nonresidential loans - $250k-1MM 117 $56,168 $480,068
    Commercial & Industrial, US addressed loans - <$1MM 380 $71,659 $188,576
    Commercial & Industrial, US addressed loans - <$100k 187 $7,893 $42,209
    Commercial & Industrial, US addressed loans - $100-250k 76 $11,326 $149,026
    Commercial & Industrial, US addressed loans - $250k-1MM 117 $52,440 $448,205