Pioneer Bank Mortgage Rates, Fees & Info

Albany, NY

LEI: 549300256FCWXUM5FR50

Tax ID: 14-0970570

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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 loans. Pioneer Bank has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Syracuse, Glens Falls, Gloversville, and Hudson among others. We have data for 7 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

    260

    Origination Dollar Volume (All Markets)

    $61,520,000

    Employee count

    244

    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) 227 $55,705,000 $245,396 $0 3.11%
    SYRACUSE, NY (FHA|USDA|VA) 2 $1,370,000 $685,000 $0 4.50%
    GLENS FALLS, NY (FHA|USDA|VA) 7 $1,295,000 $185,000 $0 3.04%
    Gloversville, NY (FHA|USDA|VA) 2 $1,110,000 $555,000 $0 3.88%
    Hudson, NY (FHA|USDA|VA) 7 $955,000 $136,429 $0 2.96%
    Outside of Metro Areas 13 $935,000 $71,923 $0 3.50%
    Amsterdam, NY (FHA|USDA|VA) 2 $150,000 $75,000 $0 2.69%
    Pioneer Bank's top markets include Albany, Syracuse, Glens Falls, Gloversville, and Hudson 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 186 $22,060,000 $118,602 n/a 2.88%
    Conventional 74 $39,460,000 $533,243 $0 3.79%

    For 2021, Pioneer Bank's most frequently originated type of loan was HELOC, with 186 originations. Their 2nd most popular type was Conventional, with 74 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 105 $10,475,000 $99,762 $0 3.06%
    Refi 101 $35,535,000 $351,832 $0 3.25%
    Other 44 $5,230,000 $118,864 $0 3.08%
    Home Purchase 10 $10,280,000 $1,028,000 $0 3.18%

    For 2021, Pioneer Bank's most frequently cited loan purpose was Home Improvement, with 105 originations. The 2nd most popular reason was Refi, with 101 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 188 $30,900,000 $164,362 $0 2.89%
    20 Year 29 $3,645,000 $125,690 $0 3.84%
    10 Year 21 $24,345,000 $1,159,286 $0 3.88%
    15 Year 14 $1,600,000 $114,286 $0 3.41%
    5 Year 8 $1,030,000 $128,750 $0 4.03%

    For 2021, Pioneer Bank's most frequently cited loan duration was Other, with 188 originations. The 2nd most popular length was 20 Year, with 29 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 191 $30,475,000 $159,555
    <2.5% 47 $25,045,000 $532,872
    4-5% 15 $5,505,000 $367,000
    2.5-3% 3 $135,000 $45,000
    5-6% 3 $215,000 $71,667

    During 2021, Pioneer Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 191 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 135 $7,785,000 $57,667 $0 3.14%
    $100k-200k 81 $11,155,000 $137,716 $0 3.15%
    $200k-400k 33 $8,515,000 $258,030 $0 2.99%
    $400k-600k 5 $2,185,000 $437,000 $0 2.95%
    $1MM+ 4 $30,170,000 $7,542,500 $0 3.83%
    $600k-1MM 2 $1,710,000 $855,000 $0 4.38%

    2021 saw Pioneer Bank place emphasis on $100,000 or less loans with 135 originations, totaling $7,785,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 61 $6,485,000 $106,311 $0 3.13%
    $100k-150k 60 $6,910,000 $115,167 $0 3.05%
    $75k-100k 42 $4,120,000 $98,095 $0 3.14%
    $150k-250k 35 $5,515,000 $157,571 $0 3.14%
    $50k or less 24 $1,430,000 $59,583 $0 3.04%
    $250k+ 15 $3,065,000 $204,333 $0 3.06%

    Pioneer Bank lent most frequently to those with incomes in the $50k-75k range, with 61 originations. The second most popular income band? $100k-150k, with 60 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 51 $5,005,000 $98,137 $0 3.08%
    30-36% 43 $4,765,000 $110,814 $0 3.01%
    <20% 34 $4,710,000 $138,529 $0 3.30%
    44% 28 $3,440,000 $122,857 $0 2.91%
    45% 21 $3,345,000 $159,286 $0 3.10%
    42% 19 $2,215,000 $116,579 $0 3.09%
    43% 13 $1,435,000 $110,385 $0 3.20%
    40% 9 $545,000 $60,556 $0 3.14%
    37% 7 $875,000 $125,000 $0 2.82%
    36% 7 $525,000 $75,000 $0 3.38%
    38% 6 $490,000 $81,667 $0 3.13%
    41% 5 $555,000 $111,000 $0 2.73%
    39% 2 $300,000 $150,000 $0 3.25%
    46% 1 $15,000 $15,000 $0 2.88%

    Pioneer Bank lent most frequently to those with DTI ratios of 20-30%, with 51 originations. The next most common DTI ratio? 30-36%, with 43 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 11 $31,935,000 $2,903,182 $0 4.29%
    White 228 $27,520,000 $120,702 $0 3.08%
    Asian 5 $775,000 $155,000 $0 2.83%
    Not provided 8 $600,000 $75,000 $0 3.45%
    Native Hawaiian or Islander 3 $355,000 $118,333 $0 2.88%
    Black 4 $270,000 $67,500 $0 3.14%
    American Indian 1 $65,000 $65,000 $0 3.63%

    Approval Rates

    Total approvals of all applications
    81.49%

    Pioneer Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.46%

    Pioneer Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    0.0 120 $13,980,000 $116,500
    NA 140 $47,540,000 $339,571

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    260 $61,520,000 $236,615

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 83 $8,075,000 $97,289 $0 3.10%
    40-60% 41 $6,065,000 $147,927 $0 3.04%
    60-80% 41 $37,195,000 $907,195 $0 3.30%
    80-100% 21 $5,155,000 $245,476 $0 3.13%
    Under 20% 74 $5,030,000 $67,973 $0 3.16%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PMR Progressive, LLC Conventional home mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Pioneer Bank 10 Kendall Way Malta, NY 12020 Full Service B&M $59,496
    Pioneer Bank 100 Mohawk St Cohoes, NY 12047 Full Service B&M $36,644
    Pioneer Bank 11565 Highway 32 Greenville, NY 12083 Full Service B&M $12,824
    Pioneer Bank 142 Saratoga Avenue Waterford, NY 12188 Full Service B&M $74,833
    Pioneer Bank 1770 Central Avenue Albany, NY 12205 Full Service B&M $60,335
    Pioneer Bank 1828 Altamont Avenue Schenectady, NY 12303 Full Service B&M $138,127
    Pioneer Bank 184 Delaware Avenue Delmar, NY 12054 Full Service B&M $29,983
    Pioneer Bank 1883 Western Avenue Albany, NY 12203 Full Service B&M $38,198
    Pioneer Bank 2000 Second Avenue Watervliet, NY 12189 Full Service B&M $115,777
    Pioneer Bank 21 Second Street Troy, NY 12180 Full Service B&M $236,352
    Pioneer Bank 329 Glenmont Road Glenmont, NY 12077 Full Service B&M $39,193
    Pioneer Bank 426 State Street Schenectady, NY 12305 Full Service B&M $34,329
    Pioneer Bank 440 Main Street Cairo, NY 12413 Full Service B&M $21,849
    Pioneer Bank 531 Troy Schenectady Road Latham, NY 12110 Full Service B&M $182,025
    Pioneer Bank 602 N Greenbush Rd Rensselaer, NY 12144 Full Service B&M $74,694
    Pioneer Bank 652 Albany Shaker Rd Albany, NY 12211 Full Service B&M $107,641
    Pioneer Bank 712 Hoosick Street Troy, NY 12180 Full Service B&M $128,776
    Pioneer Bank 739 Upper Glen Street Queensbury, NY 12804 Full Service B&M $16,975
    Pioneer Bank 78 Main Avenue Wynantskill, NY 12198 Full Service B&M $87,259
    Pioneer Bank 843 Route 146 Clifton Park, NY 12065 Full Service B&M $30,610
    Pioneer Bank 90 State Street Albany, NY 12207 Full Service B&M $15,194
    Pioneer Bank Route 146 And Vischer Ferry Road Clifton Park, NY 12065 Full Service B&M $38,407

    For 2021, Pioneer Bank had 22 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $43,091
    Net interest income $41,065
    Total noninterest income $14,115
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,767
    Trading account gains and fees $0
    Additional Noninterest Income $11,348
    Pre-tax net operating income $7,643
    Securities gains (or losses, -) $529
    Income before extraordinary items $5,274
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,274
    Minority interest net income $0
    Net income $5,274
    Sale, conversion, retirement of capital stock, net $682
    Net operating income $4,856

    Pioneer Bank's gross interest income from loans was $43,091,000.
    Pioneer Bank's net interest income from loans was $41,065,000.
    Pioneer Bank's fee based income from loans was $2,767,000.
    Pioneer Bank's net income from loans was $5,274,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,026
    Provision for credit losses $2,000
    Total noninterest expense $45,537
    Salaries and employee benefits $25,702
    Premises and equipment expense $6,799
    Additional noninterest expense $13,036
    Applicable income taxes $2,898
    Net charge-offs $2,755
    Cash dividends $0

    Pioneer Bank's interest expense for loans was $2,026,000.
    Pioneer Bank's payroll and benefits expense were $25,702,000.
    Pioneer Bank's property, plant and equipment expenses $6,799,000.

    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 2.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    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 $1,627,942
    Deposits held in domestic offices $1,627,942
    Deposits by Individuals, partnerships, and corporations $1,237,268
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $390,673
    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 $174,242
    Demand deposits $120,059
    Nontransaction accounts $1,453,699
    Money market deposit accounts (MMDAs) $438,957
    Other savings deposits (excluding MMDAs) $928,190
    Total time deposits $86,551
    Total time and savings deposits $1,507,882
    Noninterest-bearing deposits $554,271
    Interest-bearing deposits $1,073,671
    Retail deposits $1,608,231
    IRAs and Keogh plan accounts $23,050
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,842,464
    Cash & Balances due from depository institutions $346,912
    Interest-bearing balances $320,622
    Total securities $389,641
    Federal funds sold & reverse repurchase $2,229
    Net loans and leases $993,675
    Loan and leases loss allowance $22,638
    Trading account assets $18,267
    Bank premises and fixed assets $38,231
    Other real estate owned $711
    Goodwill and other intangibles $11,360
    All other assets $41,438

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,842,464
    Total Liabilities $1,655,043
    Total deposits $1,627,942
    Interest-bearing deposits $1,073,671
    Deposits held in domestic offices $1,627,942
    % insured (estimated) $55
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $745
    Other borrowed funds $11,912
    Subordinated debt $0
    All other liabilities $14,444

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $993,675
    Loan and leases loss allowance $22,638
    Total loans and leases (domestic) $1,016,313
    All real estate loans $886,625
    Real estate loans in domestic offices $886,625
    Construction and development loans $45,977
    Residential 1-4 family construction $18,766
    Other construction, all land development and other land $27,211
    Loans secured by nonfarm nonresidential properties $368,707
    Nonfarm nonresidential secured by owner-occupied properties $92,910
    Commercial real estate & other non-farm, non-residential $275,797
    Multifamily residential real estate $76,980
    1-4 family residential loans $394,961
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $116,755
    To non-U.S. addressees $0
    Loans to individuals $4,012
    Credit card loans $0
    Related Plans $3,034
    Consumer Auto Loans $754
    Other loans to individuals $224
    All other loans & leases $8,922
    Loans to foreign governments and official institutions $0
    Other loans $3,411
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $37,124
    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 $993,675,000 of loans outstanding in 2021. $886,625,000 of loans were in real estate loans. $45,977,000 of loans were in development loans. $76,980,000 of loans were in multifamily mortgage loans. $394,961,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $754,000 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 155 $54,117 $349,142
    Nonfarm, nonresidential loans - <$100k 11 $452 $41,091
    Nonfarm, nonresidential loans - $100-250k 38 $4,971 $130,816
    Nonfarm, nonresidential loans - $250k-1MM 106 $48,694 $459,377
    Commercial & Industrial, US addressed loans - <$1MM 415 $67,964 $163,769
    Commercial & Industrial, US addressed loans - <$100k 265 $11,433 $43,143
    Commercial & Industrial, US addressed loans - $100-250k 69 $9,506 $137,768
    Commercial & Industrial, US addressed loans - $250k-1MM 81 $47,025 $580,556