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 Refi and Home Purchase loans. Pioneer Bank has an average proportion of conventional loans. Pioneer Bank has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Glens Falls, Syracuse, 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

    284

    Origination Dollar Volume (All Markets)

    $101,930,000

    Employee count

    254

    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) 257 $91,015,000 $354,144 $4 4.89%
    GLENS FALLS, NY (FHA|USDA|VA) 19 $7,175,000 $377,632 $0 5.24%
    SYRACUSE, NY (FHA|USDA|VA) 2 $3,400,000 $1,700,000 $0 4.84%
    Outside of Metro Areas 4 $210,000 $52,500 $0 0.00%
    Hudson, NY (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Amsterdam, NY (FHA|USDA|VA) 1 $35,000 $35,000 $0 5.00%
    Pioneer Bank's top markets include Albany, Glens Falls, Syracuse, 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
    Conventional 201 $20,065,000 $99,826 $0 0.00%
    Conventional 83 $81,865,000 $986,325 $4 4.91%

    For 2019, Pioneer Bank's most frequently originated type of loan was Conventional, with 201 originations. Their 2nd most popular type was Conventional, with 83 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 101 $8,965,000 $88,762 $0 4.74%
    Refi 95 $40,915,000 $430,684 $8 4.84%
    Other 64 $6,110,000 $95,469 $0 5.14%
    Home Purchase 24 $45,940,000 $1,914,167 $0 5.13%

    For 2019, Pioneer Bank's most frequently cited loan purpose was Home Improvement, with 101 originations. The 2nd most popular reason was Refi, with 95 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 209 $53,335,000 $255,191 $0 4.69%
    10 Year 27 $43,255,000 $1,602,037 $0 4.96%
    20 Year 21 $2,385,000 $113,571 $10 5.20%
    5 Year 17 $2,355,000 $138,529 $0 4.61%
    15 Year 10 $600,000 $60,000 $0 4.81%

    For 2019, Pioneer Bank's most frequently cited loan duration was Other, with 209 originations. The 2nd most popular length was 10 Year, with 27 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 56 $4,160,000 $74,286

    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 56 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 47 $61,685,000 $1,312,447
    5-6% 27 $19,055,000 $705,741
    3-4% 7 $285,000 $40,714
    6-7% 2 $840,000 $420,000

    During 2019, Pioneer Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 47 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 179 $8,775,000 $49,022 $0 4.84%
    $100k-200k 58 $7,950,000 $137,069 $0 4.84%
    $200k-400k 22 $6,270,000 $285,000 $71 5.20%
    $1MM+ 10 $70,000,000 $7,000,000 $0 4.78%
    $400k-600k 8 $3,810,000 $476,250 $0 5.32%
    $600k-1MM 7 $5,125,000 $732,143 $0 5.12%

    2019 saw Pioneer Bank place emphasis on $100,000 or less loans with 179 originations, totaling $8,775,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 56 $5,630,000 $100,536 $0 4.91%
    $50k or less 56 $2,960,000 $52,857 $0 4.59%
    $75k-100k 46 $3,380,000 $73,478 $18 4.89%
    $50k-75k 45 $2,995,000 $66,556 $0 4.66%
    $150k-250k 35 $5,275,000 $150,714 $0 5.73%
    $250k+ 14 $3,480,000 $248,571 $0 0.00%

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

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 201 $20,065,000 $99,826 $0 0.00%
    20-30% 14 $920,000 $65,714 $0 4.46%
    30-36% 12 $640,000 $53,333 $0 5.03%
    42% 6 $580,000 $96,667 $35 5.08%
    44% 5 $405,000 $81,000 $0 4.94%
    37% 4 $230,000 $57,500 $0 5.23%
    38% 4 $140,000 $35,000 $0 4.53%
    41% 3 $515,000 $171,667 $0 5.15%
    40% 2 $70,000 $35,000 $0 4.81%
    39% 2 $110,000 $55,000 $0 4.88%
    43% 1 $85,000 $85,000 $0 4.38%
    <20% 1 $25,000 $25,000 $0 4.25%
    46% 1 $375,000 $375,000 $0 4.75%
    36% 1 $65,000 $65,000 $0 4.63%

    Pioneer Bank lent most frequently to those with DTI ratios of Exempt%, with 201 originations. The next most common DTI ratio? 20-30%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 26 $77,340,000 $2,974,615 $0 5.05%
    White 243 $22,505,000 $92,613 $4 4.86%
    Not provided 2 $780,000 $390,000 $0 0.00%
    Black 6 $560,000 $93,333 $0 4.56%
    Asian 3 $255,000 $85,000 $0 5.00%
    American Indian 2 $200,000 $100,000 $0 0.00%
    Asian Indian 1 $155,000 $155,000 $0 0.00%
    Native Hawaiian or Islander 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    76.20%

    Pioneer Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.10%

    Pioneer Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 201 $20,065,000 $99,826
    NA 83 $81,865,000 $986,325

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $3,400,000 $1,700,000
    Multifamily:Site-Built 20 $72,630,000 $3,631,500
    Single Family (1-4 Units):Site-Built 262 $25,900,000 $98,855

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $1,580,000 $79,000 $0 4.92%
    40-60% 9 $1,445,000 $160,556 $0 4.54%
    60-80% 28 $66,780,000 $2,385,000 $24 5.04%
    80-100% 3 $7,985,000 $2,661,667 $0 4.57%
    Over 100% 1 $195,000 $195,000 $0 4.88%
    Under 20% 22 $3,880,000 $176,364 $0 4.93%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Pioneer Savings Bank 2000 Second Avenue Watervliet, NY 12189 Full Service B&M $82,213
    Pioneer Savings Bank 531 Troy Schenectady Road Latham, NY 12110 Full Service B&M $125,371
    Pioneer Savings Bank 10 Kendall Way Malta, NY 12020 Full Service B&M $61,629
    Pioneer Savings Bank 100 Mohawk St Cohoes, NY 12047 Full Service B&M $35,697
    Pioneer Savings Bank 11565 Highway 32 Greenville, NY 12083 Full Service B&M $11,298
    Pioneer Savings Bank 142 Saratoga Avenue Waterford, NY 12188 Full Service B&M $58,311
    Pioneer Savings Bank 1761 Central Avenue Albany, NY 12205 Full Service B&M $55,242
    Pioneer Savings Bank 1828 Altamont Avenue Schenectady, NY 12303 Full Service B&M $113,415
    Pioneer Savings Bank 184 Delaware Avenue Delmar, NY 12054 Full Service B&M $23,677
    Pioneer Savings Bank 1883 Western Avenue Albany, NY 12203 Full Service B&M $34,325
    Pioneer Savings Bank 21 Second Street Troy, NY 12180 Full Service B&M $189,119
    Pioneer Savings Bank 329 Glenmont Road Glenmont, NY 12077 Full Service B&M $32,186
    Pioneer Savings Bank 426 State Street Schenectady, NY 12305 Full Service B&M $22,996
    Pioneer Savings Bank 440 Main Street Cairo, NY 12413 Full Service B&M $27,878
    Pioneer Savings Bank 600 North Greenbush Road Rensselaer, NY 12144 Full Service B&M $52,534
    Pioneer Savings Bank 652 Albany Shaker Road Albany, NY 12211 Full Service B&M $169,105
    Pioneer Savings Bank 712 Hoosick Street Troy, NY 12180 Full Service B&M $87,845
    Pioneer Savings Bank 739 Upper Glen Street Queensbury, NY 12804 Full Service B&M $16,928
    Pioneer Savings Bank 78 Main Avenue Wynantskill, NY 12198 Full Service B&M $71,515
    Pioneer Savings Bank 843 Route 146 Clifton Park, NY 12065 Full Service B&M $21,319
    Pioneer Savings Bank 90 State Street Albany, NY 12207 Full Service B&M $12,729
    Pioneer Savings Bank Route 146 And Vischer Ferry Road Clifton Park, NY 12065 Full Service B&M $32,044

    For 2019, Pioneer Bank had 22 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $56,241
    Net interest income $50,884
    Total noninterest income $16,874
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $3,703
    Trading account gains and fees $0
    Additional Noninterest Income $13,171
    Pre-tax net operating income $4,955
    Securities gains (or losses, -) $339
    Income before extraordinary items $4,404
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,404
    Minority interest net income $0
    Net income $4,404
    Sale, conversion, retirement of capital stock, net $41,538
    Net operating income $4,122

    Pioneer Bank's gross interest income from loans was $56,241,000.
    Pioneer Bank's net interest income from loans was $50,884,000.
    Pioneer Bank's fee based income from loans was $3,703,000.
    Pioneer Bank's net income from loans was $4,404,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,357
    Provision for credit losses $19,030
    Total noninterest expense $43,773
    Salaries and employee benefits $23,856
    Premises and equipment expense $6,070
    Additional noninterest expense $13,847
    Applicable income taxes $890
    Net charge-offs $16,137
    Cash dividends $0

    Pioneer Bank's interest expense for loans was $5,357,000.
    Pioneer Bank's payroll and benefits expense were $23,856,000.
    Pioneer Bank's property, plant and equipment expenses $6,070,000.

    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 1.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 2.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 4.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,186,827
    Deposits held in domestic offices $1,186,827
    Deposits by Individuals, partnerships, and corporations $931,238
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $255,589
    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 $133,796
    Demand deposits $95,810
    Nontransaction accounts $1,053,031
    Money market deposit accounts (MMDAs) $325,524
    Other savings deposits (excluding MMDAs) $598,950
    Total time deposits $128,556
    Total time and savings deposits $1,091,017
    Noninterest-bearing deposits $351,436
    Interest-bearing deposits $835,391
    Retail deposits $1,151,720
    IRAs and Keogh plan accounts $27,424
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,390,142
    Cash & Balances due from depository institutions $114,563
    Interest-bearing balances $89,930
    Total securities $96,045
    Federal funds sold & reverse repurchase $321
    Net loans and leases $1,079,055
    Loan and leases loss allowance $16,493
    Trading account assets $15,208
    Bank premises and fixed assets $41,541
    Other real estate owned $99
    Goodwill and other intangibles $9,872
    All other assets $33,438

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,390,142
    Total Liabilities $1,218,467
    Total deposits $1,186,827
    Interest-bearing deposits $835,391
    Deposits held in domestic offices $1,186,827
    % insured (estimated) $63
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $516
    Other borrowed funds $22,863
    Subordinated debt $0
    All other liabilities $8,261

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,079,055
    Loan and leases loss allowance $16,493
    Total loans and leases (domestic) $1,095,548
    All real estate loans $915,542
    Real estate loans in domestic offices $915,542
    Construction and development loans $107,673
    Residential 1-4 family construction $12,352
    Other construction, all land development and other land $95,321
    Loans secured by nonfarm nonresidential properties $318,283
    Nonfarm nonresidential secured by owner-occupied properties $89,097
    Commercial real estate & other non-farm, non-residential $229,186
    Multifamily residential real estate $80,187
    1-4 family residential loans $408,987
    Farmland loans $412
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $174,089
    To non-U.S. addressees $0
    Loans to individuals $667
    Credit card loans $0
    Related Plans $170
    Consumer Auto Loans $462
    Other loans to individuals $35
    All other loans & leases $5,249
    Loans to foreign governments and official institutions $0
    Other loans $759
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $53,206
    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 $1,079,055,000 of loans outstanding in 2019. $915,542,000 of loans were in real estate loans. $107,673,000 of loans were in development loans. $80,187,000 of loans were in multifamily mortgage loans. $408,987,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $462,000 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 174 $61,235 $351,925
    Nonfarm, nonresidential loans - <$100k 14 $614 $43,857
    Nonfarm, nonresidential loans - $100-250k 46 $6,289 $136,717
    Nonfarm, nonresidential loans - $250k-1MM 114 $54,332 $476,596
    Commercial & Industrial, US addressed loans - <$1MM 414 $76,804 $185,517
    Commercial & Industrial, US addressed loans - <$100k 215 $8,528 $39,665
    Commercial & Industrial, US addressed loans - $100-250k 81 $11,756 $145,136
    Commercial & Industrial, US addressed loans - $250k-1MM 118 $56,520 $478,983