Seneca Savings Mortgage Rates, Fees & Info

Baldwinsville, NY

LEI: 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

55

Origination Dollar Volume (All Markets)

$10,835,000

Employee count

43

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
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%
Seneca Savings's top markets include Syracuse, Auburn, Ithaca, and Utica 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 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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 22 $3,250,000 $147,727 $0 0.00%
    $200k-400k 16 $4,440,000 $277,500 $0 0.00%
    $100,000 or less 14 $1,080,000 $77,143 $0 0.00%
    $600k-1MM 2 $1,640,000 $820,000 $0 0.00%
    $400k-600k 1 $425,000 $425,000 $0 0.00%

    2019 saw Seneca Savings place emphasis on $100k-200k loans with 22 originations, totaling $3,250,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 13 $2,205,000 $169,615 $0 0.00%
    $50k-75k 9 $1,415,000 $157,222 $0 0.00%
    $150k-250k 8 $2,290,000 $286,250 $0 0.00%
    $50k or less 8 $660,000 $82,500 $0 0.00%
    $75k-100k 5 $665,000 $133,000 $0 0.00%
    $250k+ 4 $1,520,000 $380,000 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 42 $8,170,000 $194,524 $0 0.00%
    Not applicable 7 $1,755,000 $250,714 $0 0.00%
    Not provided 3 $495,000 $165,000 $0 0.00%
    Black 1 $185,000 $185,000 $0 0.00%
    American Indian 1 $155,000 $155,000 $0 0.00%
    Asian 1 $75,000 $75,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    79.27%

    Seneca Savings has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    81.82%

    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