Seneca Savings Mortgage Rates, Fees & Info
Baldwinsville, NYLEI: 5493002R2CJ2LF78PR19
Tax ID: 82-3136976
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Mortgage Data
Bank Data
Review & Overview
Seneca Savings is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Seneca Savings has a high proportion of conventional loans. Their top markets by origination volume include: Syracuse, Rochester, Watertown, Auburn, and Cortland among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Seneca Savings 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
76Origination Dollar Volume (All Markets)
$11,010,000Employee count
46Top 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 |
|---|---|---|---|---|---|
| SYRACUSE, NY (FHA|USDA|VA) | 70 | $10,130,000 | $144,714 | $0 | 0.00% |
| ROCHESTER, NY (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Auburn, NY (FHA|USDA|VA) | 2 | $210,000 | $105,000 | $0 | 0.00% |
| Cortland, NY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $85,000 | $85,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 76 | $11,010,000 | $144,868 | $0 | 0.00% |
For 2018, Seneca Savings's most frequently originated type of loan was Conventional, with 76 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 52 | $8,090,000 | $155,577 | $0 | 0.00% |
| Cash Out Refi | 20 | $2,600,000 | $130,000 | $0 | 0.00% |
| Refi | 4 | $320,000 | $80,000 | $0 | 0.00% |
For 2018, Seneca Savings's most frequently cited loan purpose was Home Purchase, with 52 originations. The 2nd most popular reason was Cash Out Refi, with 20 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 76 | $11,010,000 | $144,868 | $0 | 0.00% |
For 2018, Seneca Savings's most frequently cited loan duration was Other, with 76 originations.
Loan Sizing
2018 saw Seneca Savings place emphasis on $100,000 or less loans with 34 originations, totaling $2,380,000 in origination value.
Applicant Income
Seneca Savings lent most frequently to those with incomes in the $75k-100k range, with 19 originations. The second most popular income band? $100k-150k, with 18 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 76 | $11,010,000 | $144,868 | $0 | 0.00% |
Seneca Savings lent most frequently to those with DTI ratios of Exempt%, with 76 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.82%
Seneca Savings has an average approval rate.
Pick Rate
Approvals leading to origination85.53%
Seneca Savings has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 76 | $11,010,000 | $144,868 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 1 | $105,000 | $105,000 |
| Single Family (1-4 Units):Site-Built | 75 | $10,905,000 | $145,400 |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Seneca Savings | 201 N Main Street North Syracuse, NY 13212 | Full Service B&M | $31,874 |
| Seneca Savings | 35 Oswego St Baldwinsville, NY 13027 | Full Service B&M | $77,238 |
| Seneca Savings | 7799 Oswego Road Liverpool, NY 13090 | Full Service B&M | $29,354 |
For 2018, Seneca Savings had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $7,702 |
| Net interest income | $5,753 |
| Total noninterest income | $596 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $119 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $477 |
| Pre-tax net operating income | $1,160 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $959 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $959 |
| Minority interest net income | $0 |
| Net income | $959 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $959 |
Seneca Savings's gross interest income from loans was $7,702,000.
Seneca Savings's net interest income from loans was $5,753,000.
Seneca Savings's fee based income from loans was $119,000.
Seneca Savings's net income from loans was $959,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,949 |
| Provision for credit losses | $10 |
| Total noninterest expense | $5,179 |
| Salaries and employee benefits | $3,008 |
| Premises and equipment expense | $483 |
| Additional noninterest expense | $1,688 |
| Applicable income taxes | $201 |
| Net charge-offs | $17 |
| Cash dividends | $0 |
Seneca Savings's interest expense for loans was $1,949,000.
Seneca Savings's payroll and benefits expense were $3,008,000.
Seneca Savings's property, plant and equipment expenses $483,000.
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 | 1.0% |
| Credit card loans | 0.0% |
| Other individual loans | 1.0% |
| Auto loans | 0.0% |
| Other consumer loans | 2.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $149,049 |
| Deposits held in domestic offices | $149,049 |
| Deposits by Individuals, partnerships, and corporations | $126,928 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $7,716 |
| Deposits by Commercial banks and other depository institutions in U.S. | $14,406 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $44,625 |
| Demand deposits | $18,490 |
| Nontransaction accounts | $104,425 |
| Money market deposit accounts (MMDAs) | $15,134 |
| Other savings deposits (excluding MMDAs) | $10,088 |
| Total time deposits | $79,203 |
| Total time and savings deposits | $130,560 |
| Noninterest-bearing deposits | $18,490 |
| Interest-bearing deposits | $130,559 |
| Retail deposits | $124,168 |
| IRAs and Keogh plan accounts | $3,548 |
| Brokered deposits | $10,481 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $195,411 |
| Cash & Balances due from depository institutions | $3,470 |
| Interest-bearing balances | $2,577 |
| Total securities | $26,174 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $154,676 |
| Loan and leases loss allowance | $1,234 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $2,452 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $8,639 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $195,411 |
| Total Liabilities | $178,701 |
| Total deposits | $149,049 |
| Interest-bearing deposits | $130,559 |
| Deposits held in domestic offices | $149,049 |
| % insured (estimated) | $90 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $29,110 |
| Subordinated debt | $0 |
| All other liabilities | $542 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $154,676 |
| Loan and leases loss allowance | $1,234 |
| Total loans and leases (domestic) | $155,910 |
| All real estate loans | $140,601 |
| Real estate loans in domestic offices | $140,601 |
| Construction and development loans | $4,983 |
| Residential 1-4 family construction | $3,499 |
| Other construction, all land development and other land | $1,484 |
| Loans secured by nonfarm nonresidential properties | $17,460 |
| Nonfarm nonresidential secured by owner-occupied properties | $10,513 |
| Commercial real estate & other non-farm, non-residential | $6,947 |
| Multifamily residential real estate | $4,464 |
| 1-4 family residential loans | $113,694 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $14,091 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $1,201 |
| Credit card loans | $0 |
| Related Plans | $86 |
| Consumer Auto Loans | $724 |
| Other loans to individuals | $391 |
| All other loans & leases | $17 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $17 |
| 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 | $1,020 |
| Non 1-4 family restructured loans & leases | $1,020 |
| Total loans and leases (foreign) | $0 |
Seneca Savings had $154,676,000 of loans outstanding in 2018. $140,601,000 of loans were in real estate loans. $4,983,000 of loans were in development loans. $4,464,000 of loans were in multifamily mortgage loans. $113,694,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $724,000 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 | 63 | $16,204 | $257,206 |
| Nonfarm, nonresidential loans - <$100k | 7 | $386 | $55,143 |
| Nonfarm, nonresidential loans - $100-250k | 32 | $4,964 | $155,125 |
| Nonfarm, nonresidential loans - $250k-1MM | 24 | $10,854 | $452,250 |
| Commercial & Industrial, US addressed loans - <$1MM | 177 | $12,933 | $73,068 |
| Commercial & Industrial, US addressed loans - <$100k | 138 | $4,595 | $33,297 |
| Commercial & Industrial, US addressed loans - $100-250k | 30 | $4,285 | $142,833 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 9 | $4,053 | $450,333 |