Tioga State Bank Mortgage Rates, Fees & Info

Spencer, NY

LEI: 5493002PHB6PE87OB729

Tax ID: 15-0620348

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

Review & Overview

Tioga State Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Tioga State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Binghamton, Ithaca, Elmira, Corning, and Seneca Falls among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)

Tioga State 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.

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Originations

337

Origination Dollar Volume (All Markets)

$53,465,000

Employee count

102

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
BINGHAMTON, NY (FHA\|USDA\|VA)	233	$35,165,000	$150,923	$0	0.00%
ITHACA, NY (FHA\|USDA\|VA)	34	$6,260,000	$184,118	$0	0.00%
Outside of Metro Areas	31	$4,855,000	$156,613	$0	0.00%
ELMIRA, NY (FHA\|USDA\|VA)	18	$2,890,000	$160,556	$0	0.00%
Corning, NY (FHA\|USDA\|VA)	2	$810,000	$405,000	$0	0.00%
Seneca Falls, NY (FHA\|USDA\|VA)	3	$795,000	$265,000	$0	0.00%
Sayre, PA (FHA\|USDA\|VA)	3	$645,000	$215,000	$0	0.00%
ROCHESTER, NY (FHA\|USDA\|VA)	2	$550,000	$275,000	$0	0.00%
SYRACUSE, NY (FHA\|USDA\|VA)	2	$520,000	$260,000	$0	0.00%
Cortland, NY (FHA\|USDA\|VA)	3	$385,000	$128,333	$0	0.00%
Oneonta, NY (FHA\|USDA\|VA)	2	$260,000	$130,000	$0	0.00%
Auburn, NY (FHA\|USDA\|VA)	3	$205,000	$68,333	$0	0.00%
UTICA-ROME, NY (FHA\|USDA\|VA)	1	$125,000	$125,000	$0	0.00%

Tioga State Bank's top markets include Binghamton, Ithaca, Elmira, Corning, and Seneca Falls among others.

Their top states include:

New York (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

Similar Lenders

We use machine learning to identify the top lenders compared against Tioga State Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

CFCU Community Credit Union
Similarity Rank: 72

Elmira Savings Bank
Similarity Rank: 247

Tompkins Trust Company
Similarity Rank: 253

NBT Bank
Similarity Rank: 490

SEFCU SERVICES, LLC
Similarity Rank: 600

VISIONS
Similarity Rank: 624

1ST PRIORITY MORTGAGE, INC.
Similarity Rank: 900

Premium Mortgage Corporation
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PARAGON HOME LOANS INC.
Similarity Rank: 1085

Citizens & Northern Bank
Similarity Rank: 1452

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	337	$53,465,000	$158,650	$0	0.00%

For 2021, Tioga State Bank's most frequently originated type of loan was Conventional, with 337 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	214	$36,150,000	$168,925	$0	0.00%
Cash Out Refi	75	$12,225,000	$163,000	$0	0.00%
Refi	25	$3,415,000	$136,600	$0	0.00%
Other	21	$1,605,000	$76,429	$0	0.00%
Home Improvement	2	$70,000	$35,000	$0	0.00%

For 2021, Tioga State Bank's most frequently cited loan purpose was Home Purchase, with 214 originations. The 2nd most popular reason was Cash Out Refi, with 75 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	337	$53,465,000	$158,650	$0	0.00%

For 2021, Tioga State Bank's most frequently cited loan duration was Other, with 337 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	141	$19,215,000	$136,277	$0	0.00%
$100,000 or less	117	$7,785,000	$66,538	$0	0.00%
$200k-400k	65	$18,715,000	$287,923	$0	0.00%
$400k-600k	12	$5,940,000	$495,000	$0	0.00%
$1MM+	1	$1,125,000	$1,125,000	$0	0.00%
$600k-1MM	1	$685,000	$685,000	$0	0.00%

2021 saw Tioga State Bank place emphasis on $100k-200k loans with 141 originations, totaling $19,215,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	76	$8,550,000	$112,500	$0	0.00%
$75k-100k	57	$7,825,000	$137,281	$0	0.00%
$100k-150k	55	$9,255,000	$168,273	$0	0.00%
$50k or less	55	$4,655,000	$84,636	$0	0.00%
$150k-250k	43	$10,005,000	$232,674	$0	0.00%
$250k+	10	$2,610,000	$261,000	$0	0.00%

Tioga State Bank lent most frequently to those with incomes in the $50k-75k range, with 76 originations. The second most popular income band? $75k-100k, with 57 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	337	$53,465,000	$158,650	$0	0.00%

Tioga State Bank lent most frequently to those with DTI ratios of Exempt%, with 337 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	278	$40,830,000	$146,871	$0	0.00%
Not applicable	34	$9,510,000	$279,706	$0	0.00%
Not provided	19	$2,425,000	$127,632	$0	0.00%
Asian	4	$530,000	$132,500	$0	0.00%
American Indian	1	$85,000	$85,000	$0	0.00%
Black	1	$85,000	$85,000	$0	0.00%

Approval Rates

Total approvals of all applications
90.21%

Tioga State Bank has an average approval rate.

Pick Rate

Approvals leading to origination
87.83%

Tioga State Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	337	$53,465,000	$158,650

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	337	$53,465,000	$158,650

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Tioga State Bank National Association	1 N Main St Spencer, NY 14883	Full Service B&M	$61,166
Tioga State Bank National Association	1250 Vestal Pkwy East P.O. Box 1254 Vestal, NY 13850	Full Service B&M	$53,107
Tioga State Bank National Association	1387 State Route 96 Owego, NY 13827	Limited, Drive-thru	$2,903
Tioga State Bank National Association	1430 Upper Front Street Binghamton, NY 13901	Full Service B&M	$63,952
Tioga State Bank National Association	183 Main Street Newfield, NY 14867	Full Service B&M	$40,435
Tioga State Bank National Association	191 Conklin Ave Binghamton, NY 13903	Full Service B&M	$11,919
Tioga State Bank National Association	436 Cayuta Avenue Waverly, NY 14892	Full Service B&M	$49,514
Tioga State Bank National Association	510 Hooper Road Endwell, NY 13760	Full Service B&M	$46,517
Tioga State Bank National Association	6 Main Street Van Etten, NY 14889	Limited, Drive-thru	$5,933
Tioga State Bank National Association	73 Main Street Candor, NY 13743	Full Service B&M	$36,130
Tioga State Bank National Association	923 State Route 17c Owego, NY 13827	Full Service B&M	$101,693

For 2021, Tioga State Bank had 11 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$21,485
Net interest income	$20,777
Total noninterest income	$4,288
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$517
Trading account gains and fees	$0
Additional Noninterest Income	$3,771
Pre-tax net operating income	$9,463
Securities gains (or losses, -)	$4
Income before extraordinary items	$7,412
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$7,412
Minority interest net income	$0
Net income	$7,412
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$7,408

Tioga State Bank's gross interest income from loans was $21,485,000.
Tioga State Bank's net interest income from loans was $20,777,000.
Tioga State Bank's fee based income from loans was $517,000.
Tioga State Bank's net income from loans was $7,412,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$708
Provision for credit losses	$0
Total noninterest expense	$15,602
Salaries and employee benefits	$8,498
Premises and equipment expense	$1,605
Additional noninterest expense	$5,499
Applicable income taxes	$2,055
Net charge-offs	$-40
Cash dividends	$13,000

Tioga State Bank's interest expense for loans was $708,000.
Tioga State Bank's payroll and benefits expense were $8,498,000.
Tioga State Bank's property, plant and equipment expenses $1,605,000.

Loan Performance

Type of Loan	% of Loans Noncurrent (30+ days, end of period snapshot)
All loans	0.0%
Real Estate loans	0.0%
Construction & Land Development loans	0.0%
Nonfarm, nonresidential loans	0.0%
Multifamily residential loans	0.0%
1-4 family residential loans	1.0%
HELOC loans	0.0%
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	$483,437
Deposits held in domestic offices	$483,437
Deposits by Individuals, partnerships, and corporations	$413,314
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$69,129
Deposits by Commercial banks and other depository institutions in U.S.	$994
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$231,717
Demand deposits	$231,717
Nontransaction accounts	$251,720
Money market deposit accounts (MMDAs)	$70,571
Other savings deposits (excluding MMDAs)	$123,669
Total time deposits	$57,480
Total time and savings deposits	$251,720
Noninterest-bearing deposits	$166,062
Interest-bearing deposits	$317,375
Retail deposits	$465,659
IRAs and Keogh plan accounts	$10,967
Brokered deposits	$5,000
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$548,737
Cash & Balances due from depository institutions	$25,836
Interest-bearing balances	$20,104
Total securities	$163,710
Federal funds sold & reverse repurchase	$0
Net loans and leases	$329,633
Loan and leases loss allowance	$6,104
Trading account assets	$2,464
Bank premises and fixed assets	$4,487
Other real estate owned	$0
Goodwill and other intangibles	$147
All other assets	$22,460

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$548,737
Total Liabilities	$487,974
Total deposits	$483,437
Interest-bearing deposits	$317,375
Deposits held in domestic offices	$483,437
% insured (estimated)	$80
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$4,537

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$329,633
Loan and leases loss allowance	$6,104
Total loans and leases (domestic)	$335,737
All real estate loans	$267,380
Real estate loans in domestic offices	$267,380
Construction and development loans	$16,117
Residential 1-4 family construction	$3,654
Other construction, all land development and other land	$12,463
Loans secured by nonfarm nonresidential properties	$64,342
Nonfarm nonresidential secured by owner-occupied properties	$29,407
Commercial real estate & other non-farm, non-residential	$34,935
Multifamily residential real estate	$34,309
1-4 family residential loans	$151,368
Farmland loans	$1,244
Loans held in foreign offices	$0
Farm loans	$154
Commercial and industrial loans	$61,412
To non-U.S. addressees	$0
Loans to individuals	$5,117
Credit card loans	$0
Related Plans	$203
Consumer Auto Loans	$1,139
Other loans to individuals	$3,775
All other loans & leases	$1,674
Loans to foreign governments and official institutions	$0
Other loans	$1,674
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	$2,877
Non 1-4 family restructured loans & leases	$2,664
Total loans and leases (foreign)	$0

Tioga State Bank had $329,633,000 of loans outstanding in 2021. $267,380,000 of loans were in real estate loans. $16,117,000 of loans were in development loans. $34,309,000 of loans were in multifamily mortgage loans. $151,368,000 of loans were in 1-4 family mortgage loans. $154,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,139,000 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	190	$34,513	$181,647
Nonfarm, nonresidential loans - <$100k	49	$3,034	$61,918
Nonfarm, nonresidential loans - $100-250k	69	$7,149	$103,609
Nonfarm, nonresidential loans - $250k-1MM	72	$24,330	$337,917
Commercial & Industrial, US addressed loans - <$1MM	738	$42,045	$56,972
Commercial & Industrial, US addressed loans - <$100k	556	$11,011	$19,804
Commercial & Industrial, US addressed loans - $100-250k	92	$7,686	$83,543
Commercial & Industrial, US addressed loans - $250k-1MM	90	$23,348	$259,422
Farmland loans - <$1MM	10	$1,244	$124,400
Farmland loans - <$100k	2	$66	$33,000
Farmland loans - $100-250k	4	$313	$78,250
Farmland loans - $250k-1MM	4	$865	$216,250
Agriculture operations loans - <$1MM	6	$154	$25,667
Agriculture operations loans - <$100k	5	$99	$19,800
Agriculture operations loans - $250k-1MM	1	$55	$55,000