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 loans. Seneca Savings has a high proportion of conventional loans. Their top markets by origination volume include: Syracuse, Auburn, Ithaca, and Utica among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)Seneca Savings 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.
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Originations
55Origination Dollar Volume (All Markets)
$10,835,000Employee count
43Top 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) | 48 | $9,460,000 | $197,083 | $0 | 0.00% |
| Auburn, NY (FHA|USDA|VA) | 5 | $665,000 | $133,000 | $0 | 0.00% |
| ITHACA, NY (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $0 | 0.00% |
| UTICA-ROME, NY (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 55 | $10,835,000 | $197,000 | $0 | 0.00% |
For 2019, Seneca Savings's most frequently originated type of loan was Conventional, with 55 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 40 | $7,880,000 | $197,000 | $0 | 0.00% |
| Cash Out Refi | 11 | $2,155,000 | $195,909 | $0 | 0.00% |
| Refi | 4 | $800,000 | $200,000 | $0 | 0.00% |
For 2019, Seneca Savings's most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Cash Out Refi, with 11 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 55 | $10,835,000 | $197,000 | $0 | 0.00% |
For 2019, Seneca Savings's most frequently cited loan duration was Other, with 55 originations.
Loan Sizing
2019 saw Seneca Savings place emphasis on $100k-200k loans with 22 originations, totaling $3,250,000 in origination value.
Applicant Income
Seneca Savings lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $50k-75k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 55 | $10,835,000 | $197,000 | $0 | 0.00% |
Seneca Savings lent most frequently to those with DTI ratios of Exempt%, with 55 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications79.27%
Seneca Savings has a below average approval rate.
Pick Rate
Approvals leading to origination81.82%
Seneca Savings has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 55 | $10,835,000 | $197,000 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 2 | $980,000 | $490,000 |
| Single Family (1-4 Units):Site-Built | 53 | $9,855,000 | $185,943 |
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 | $32,200 |
| Seneca Savings | 35 Oswego St Baldwinsville, NY 13027 | Full Service B&M | $86,450 |
| Seneca Savings | 7799 Oswego Road Liverpool, NY 13090 | Full Service B&M | $34,400 |
For 2019, Seneca Savings had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $8,769 |
| Net interest income | $6,165 |
| Total noninterest income | $735 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $193 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $542 |
| Pre-tax net operating income | $1,514 |
| Securities gains (or losses, -) | $7 |
| Income before extraordinary items | $1,270 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,270 |
| Minority interest net income | $0 |
| Net income | $1,270 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,264 |
Seneca Savings's gross interest income from loans was $8,769,000.
Seneca Savings's net interest income from loans was $6,165,000.
Seneca Savings's fee based income from loans was $193,000.
Seneca Savings's net income from loans was $1,270,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,604 |
| Provision for credit losses | $243 |
| Total noninterest expense | $5,143 |
| Salaries and employee benefits | $2,888 |
| Premises and equipment expense | $556 |
| Additional noninterest expense | $1,699 |
| Applicable income taxes | $251 |
| Net charge-offs | $236 |
| Cash dividends | $0 |
Seneca Savings's interest expense for loans was $2,604,000.
Seneca Savings's payroll and benefits expense were $2,888,000.
Seneca Savings's property, plant and equipment expenses $556,000.
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 | 3.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| 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 | 3.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $156,450 |
| Deposits held in domestic offices | $156,450 |
| Deposits by Individuals, partnerships, and corporations | $131,647 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $16,843 |
| Deposits by Commercial banks and other depository institutions in U.S. | $7,959 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $47,644 |
| Demand deposits | $21,250 |
| Nontransaction accounts | $108,805 |
| Money market deposit accounts (MMDAs) | $20,741 |
| Other savings deposits (excluding MMDAs) | $10,849 |
| Total time deposits | $77,215 |
| Total time and savings deposits | $135,199 |
| Noninterest-bearing deposits | $21,258 |
| Interest-bearing deposits | $135,192 |
| Retail deposits | $124,930 |
| IRAs and Keogh plan accounts | $2,887 |
| Brokered deposits | $15,322 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $210,294 |
| Cash & Balances due from depository institutions | $3,095 |
| Interest-bearing balances | $2,198 |
| Total securities | $27,959 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $164,420 |
| Loan and leases loss allowance | $1,241 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $5,414 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $9,406 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $210,294 |
| Total Liabilities | $191,206 |
| Total deposits | $156,450 |
| Interest-bearing deposits | $135,192 |
| Deposits held in domestic offices | $156,450 |
| % insured (estimated) | $86 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $33,646 |
| Subordinated debt | $0 |
| All other liabilities | $1,110 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $164,420 |
| Loan and leases loss allowance | $1,241 |
| Total loans and leases (domestic) | $165,661 |
| All real estate loans | $148,171 |
| Real estate loans in domestic offices | $148,171 |
| Construction and development loans | $5,673 |
| Residential 1-4 family construction | $3,710 |
| Other construction, all land development and other land | $1,963 |
| Loans secured by nonfarm nonresidential properties | $27,827 |
| Nonfarm nonresidential secured by owner-occupied properties | $12,189 |
| Commercial real estate & other non-farm, non-residential | $15,638 |
| Multifamily residential real estate | $4,641 |
| 1-4 family residential loans | $110,030 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $16,763 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $699 |
| Credit card loans | $0 |
| Related Plans | $58 |
| Consumer Auto Loans | $479 |
| Other loans to individuals | $162 |
| All other loans & leases | $28 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $28 |
| 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 $164,420,000 of loans outstanding in 2019. $148,171,000 of loans were in real estate loans. $5,673,000 of loans were in development loans. $4,641,000 of loans were in multifamily mortgage loans. $110,030,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $479,000 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 | 100 | $25,539 | $255,390 |
| Nonfarm, nonresidential loans - <$100k | 18 | $1,164 | $64,667 |
| Nonfarm, nonresidential loans - $100-250k | 44 | $6,826 | $155,136 |
| Nonfarm, nonresidential loans - $250k-1MM | 38 | $17,549 | $461,816 |
| Commercial & Industrial, US addressed loans - <$1MM | 192 | $14,073 | $73,297 |
| Commercial & Industrial, US addressed loans - <$100k | 153 | $5,115 | $33,431 |
| Commercial & Industrial, US addressed loans - $100-250k | 25 | $3,705 | $148,200 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 14 | $5,253 | $375,214 |