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 a high proportion of conventional loans. Their top markets by origination volume include: Albany, Poughkeepsie, Hudson, Gloversville, and Glens Falls 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

    204

    Origination Dollar Volume (All Markets)

    $33,810,000

    Employee count

    247

    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) 190 $31,430,000 $165,421 $0 0.00%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 2 $1,360,000 $680,000 $0 0.00%
    Hudson, NY (FHA|USDA|VA) 5 $495,000 $99,000 $0 0.00%
    Gloversville, NY (FHA|USDA|VA) 3 $375,000 $125,000 $0 0.00%
    Outside of Metro Areas 2 $110,000 $55,000 $0 0.00%
    GLENS FALLS, NY (FHA|USDA|VA) 2 $40,000 $20,000 $0 0.00%
    Pioneer Bank's top markets include Albany, Poughkeepsie, Hudson, Gloversville, and Glens Falls 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 204 $33,810,000 $165,735 $0 0.00%

    For 2020, Pioneer Bank's most frequently originated type of loan was Conventional, with 204 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 69 $8,445,000 $122,391 $0 0.00%
    Home Improvement 62 $4,090,000 $65,968 $0 0.00%
    Other 50 $4,800,000 $96,000 $0 0.00%
    Home Purchase 17 $13,645,000 $802,647 $0 0.00%
    Cash Out Refi 6 $2,830,000 $471,667 $0 0.00%

    For 2020, Pioneer Bank's most frequently cited loan purpose was Refi, with 69 originations. The 2nd most popular reason was Home Improvement, with 62 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 204 $33,810,000 $165,735 $0 0.00%

    For 2020, Pioneer Bank's most frequently cited loan duration was Other, with 204 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 120 $6,070,000 $50,583 $0 0.00%
    $100k-200k 55 $7,515,000 $136,636 $0 0.00%
    $200k-400k 13 $3,615,000 $278,077 $0 0.00%
    $400k-600k 9 $4,175,000 $463,889 $0 0.00%
    $600k-1MM 4 $3,190,000 $797,500 $0 0.00%
    $1MM+ 3 $9,245,000 $3,081,667 $0 0.00%

    2020 saw Pioneer Bank place emphasis on $100,000 or less loans with 120 originations, totaling $6,070,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 40 $3,980,000 $99,500 $0 0.00%
    $75k-100k 40 $3,140,000 $78,500 $0 0.00%
    $50k-75k 31 $2,095,000 $67,581 $0 0.00%
    $50k or less 31 $2,095,000 $67,581 $0 0.00%
    $150k-250k 29 $3,625,000 $125,000 $0 0.00%
    $250k+ 11 $1,815,000 $165,000 $0 0.00%

    Pioneer Bank lent most frequently to those with incomes in the $100k-150k range, with 40 originations. The second most popular income band? $75k-100k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 204 $33,810,000 $165,735 $0 0.00%

    Pioneer Bank lent most frequently to those with DTI ratios of Exempt%, with 204 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 20 $16,950,000 $847,500 $0 0.00%
    White 171 $15,345,000 $89,737 $0 0.00%
    Asian 5 $605,000 $121,000 $0 0.00%
    American Indian 1 $505,000 $505,000 $0 0.00%
    Not provided 4 $230,000 $57,500 $0 0.00%
    Black 3 $175,000 $58,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.09%

    Pioneer Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    72.55%

    Pioneer Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 204 $33,810,000 $165,735

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $1,360,000 $680,000
    Multifamily:Site-Built 12 $13,050,000 $1,087,500
    Single Family (1-4 Units):Site-Built 190 $19,400,000 $102,105

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Pioneer Bank 440 Main Street Cairo, NY 12413 Full Service B&M $21,339
    Pioneer Bank 10 Kendall Way Malta, NY 12020 Full Service B&M $60,369
    Pioneer Bank 100 Mohawk St Cohoes, NY 12047 Full Service B&M $33,872
    Pioneer Bank 11565 Highway 32 Greenville, NY 12083 Full Service B&M $14,020
    Pioneer Bank 142 Saratoga Avenue Waterford, NY 12188 Full Service B&M $66,434
    Pioneer Bank 1770 Central Avenue Albany, NY 12205 Full Service B&M $51,206
    Pioneer Bank 1828 Altamont Avenue Schenectady, NY 12303 Full Service B&M $118,457
    Pioneer Bank 184 Delaware Avenue Delmar, NY 12054 Full Service B&M $31,232
    Pioneer Bank 1883 Western Avenue Albany, NY 12203 Full Service B&M $37,267
    Pioneer Bank 2000 Second Avenue Watervliet, NY 12189 Full Service B&M $92,237
    Pioneer Bank 21 Second Street Troy, NY 12180 Full Service B&M $167,423
    Pioneer Bank 329 Glenmont Road Glenmont, NY 12077 Full Service B&M $35,821
    Pioneer Bank 426 State Street Schenectady, NY 12305 Full Service B&M $29,440
    Pioneer Bank 531 Troy Schenectady Road Latham, NY 12110 Full Service B&M $132,128
    Pioneer Bank 600 North Greenbush Road Rensselaer, NY 12144 Full Service B&M $66,255
    Pioneer Bank 652 Albany Shaker Rd Albany, NY 12211 Full Service B&M $97,210
    Pioneer Bank 712 Hoosick Street Troy, NY 12180 Full Service B&M $94,894
    Pioneer Bank 739 Upper Glen Street Queensbury, NY 12804 Full Service B&M $15,873
    Pioneer Bank 78 Main Avenue Wynantskill, NY 12198 Full Service B&M $79,050
    Pioneer Bank 843 Route 146 Clifton Park, NY 12065 Full Service B&M $24,609
    Pioneer Bank 90 State Street Albany, NY 12207 Full Service B&M $12,904
    Pioneer Bank Route 146 And Vischer Ferry Road Clifton Park, NY 12065 Full Service B&M $35,857

    For 2020, Pioneer Bank had 22 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $47,406
    Net interest income $43,324
    Total noninterest income $13,463
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,779
    Trading account gains and fees $0
    Additional Noninterest Income $10,684
    Pre-tax net operating income $5,272
    Securities gains (or losses, -) $1,095
    Income before extraordinary items $5,234
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,234
    Minority interest net income $0
    Net income $5,234
    Sale, conversion, retirement of capital stock, net $682
    Net operating income $4,336

    Pioneer Bank's gross interest income from loans was $47,406,000.
    Pioneer Bank's net interest income from loans was $43,324,000.
    Pioneer Bank's fee based income from loans was $2,779,000.
    Pioneer Bank's net income from loans was $5,234,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,082
    Provision for credit losses $7,000
    Total noninterest expense $44,515
    Salaries and employee benefits $25,117
    Premises and equipment expense $6,346
    Additional noninterest expense $13,052
    Applicable income taxes $1,133
    Net charge-offs $99
    Cash dividends $0

    Pioneer Bank's interest expense for loans was $4,082,000.
    Pioneer Bank's payroll and benefits expense were $25,117,000.
    Pioneer Bank's property, plant and equipment expenses $6,346,000.

    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 3.0%
    Credit card loans 0.0%
    Other individual loans 3.0%
    Auto loans 0.0%
    Other consumer loans 6.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,370,536
    Deposits held in domestic offices $1,370,536
    Deposits by Individuals, partnerships, and corporations $1,104,942
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $265,594
    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 $152,981
    Demand deposits $104,194
    Nontransaction accounts $1,217,555
    Money market deposit accounts (MMDAs) $348,333
    Other savings deposits (excluding MMDAs) $768,981
    Total time deposits $100,241
    Total time and savings deposits $1,266,342
    Noninterest-bearing deposits $465,150
    Interest-bearing deposits $905,386
    Retail deposits $1,349,144
    IRAs and Keogh plan accounts $26,713
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,573,030
    Cash & Balances due from depository institutions $193,815
    Interest-bearing balances $159,338
    Total securities $144,487
    Federal funds sold & reverse repurchase $2,190
    Net loans and leases $1,111,477
    Loan and leases loss allowance $23,394
    Trading account assets $36,431
    Bank premises and fixed assets $39,739
    Other real estate owned $161
    Goodwill and other intangibles $9,498
    All other assets $35,232

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,573,030
    Total Liabilities $1,402,159
    Total deposits $1,370,536
    Interest-bearing deposits $905,386
    Deposits held in domestic offices $1,370,536
    % insured (estimated) $61
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $419
    Other borrowed funds $12,431
    Subordinated debt $0
    All other liabilities $18,773

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,111,477
    Loan and leases loss allowance $23,394
    Total loans and leases (domestic) $1,134,871
    All real estate loans $914,350
    Real estate loans in domestic offices $914,350
    Construction and development loans $94,817
    Residential 1-4 family construction $6,506
    Other construction, all land development and other land $88,311
    Loans secured by nonfarm nonresidential properties $328,753
    Nonfarm nonresidential secured by owner-occupied properties $78,919
    Commercial real estate & other non-farm, non-residential $249,834
    Multifamily residential real estate $82,183
    1-4 family residential loans $408,597
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $213,275
    To non-U.S. addressees $0
    Loans to individuals $1,268
    Credit card loans $0
    Related Plans $111
    Consumer Auto Loans $625
    Other loans to individuals $532
    All other loans & leases $5,977
    Loans to foreign governments and official institutions $0
    Other loans $660
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $63,708
    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 $1,111,477,000 of loans outstanding in 2020. $914,350,000 of loans were in real estate loans. $94,817,000 of loans were in development loans. $82,183,000 of loans were in multifamily mortgage loans. $408,597,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $625,000 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 161 $57,580 $357,640
    Nonfarm, nonresidential loans - <$100k 12 $571 $47,583
    Nonfarm, nonresidential loans - $100-250k 37 $4,931 $133,270
    Nonfarm, nonresidential loans - $250k-1MM 112 $52,078 $464,982
    Commercial & Industrial, US addressed loans - <$1MM 895 $113,042 $126,304
    Commercial & Industrial, US addressed loans - <$100k 615 $18,746 $30,481
    Commercial & Industrial, US addressed loans - $100-250k 124 $16,581 $133,718
    Commercial & Industrial, US addressed loans - $250k-1MM 156 $77,715 $498,173