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, Auburn, Poughkeepsie, Utica, and Rochester among others. We have data for 15 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
137Origination Dollar Volume (All Markets)
$21,635,000Employee count
50Top 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) | 89 | $16,315,000 | $183,315 | $0 | 0.00% |
| Auburn, NY (FHA|USDA|VA) | 6 | $1,050,000 | $175,000 | $0 | 0.00% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 11 | $995,000 | $90,455 | $0 | 0.00% |
| Outside of Metro Areas | 2 | $760,000 | $380,000 | $0 | 0.00% |
| UTICA-ROME, NY (FHA|USDA|VA) | 7 | $515,000 | $73,571 | $0 | 0.00% |
| ROCHESTER, NY (FHA|USDA|VA) | 5 | $465,000 | $93,000 | $0 | 0.00% |
| ITHACA, NY (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| Cortland, NY (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $0 | 0.00% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 5 | $235,000 | $47,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 0.00% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 3 | $165,000 | $55,000 | $0 | 0.00% |
| Hudson, NY (FHA|USDA|VA) | 2 | $120,000 | $60,000 | $0 | 0.00% |
| KINGSTON, NY (FHA|USDA|VA) | 1 | $75,000 | $75,000 | $0 | 0.00% |
| ELMIRA, NY (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
| Corning, NY (FHA|USDA|VA) | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 137 | $21,635,000 | $157,920 | $0 | 0.00% |
For 2021, Seneca Savings's most frequently originated type of loan was Conventional, with 137 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 72 | $9,560,000 | $132,778 | $0 | 0.00% |
| Cash Out Refi | 49 | $9,245,000 | $188,673 | $0 | 0.00% |
| Refi | 16 | $2,830,000 | $176,875 | $0 | 0.00% |
For 2021, Seneca Savings's most frequently cited loan purpose was Home Purchase, with 72 originations. The 2nd most popular reason was Cash Out Refi, with 49 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 137 | $21,635,000 | $157,920 | $0 | 0.00% |
For 2021, Seneca Savings's most frequently cited loan duration was Other, with 137 originations.
Loan Sizing
2021 saw Seneca Savings place emphasis on $100k-200k loans with 49 originations, totaling $6,915,000 in origination value.
Applicant Income
Seneca Savings lent most frequently to those with incomes in the $50k-75k range, with 30 originations. The second most popular income band? $50k or less, with 25 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 137 | $21,635,000 | $157,920 | $0 | 0.00% |
Seneca Savings lent most frequently to those with DTI ratios of Exempt%, with 137 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications88.83%
Seneca Savings has an average approval rate.
Pick Rate
Approvals leading to origination81.75%
Seneca Savings has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 137 | $21,635,000 | $157,920 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| SCENIC OAKS FUNDING | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |
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 | $31,999 |
| Seneca Savings | 35 Oswego St Baldwinsville, NY 13027 | Full Service B&M | $76,291 |
| Seneca Savings | 584 Route 31 Bridgeport, NY 13030 | Full Service B&M | $18,071 |
| Seneca Savings | 7799 Oswego Road Liverpool, NY 13090 | Full Service B&M | $41,762 |
For 2021, Seneca Savings had 4 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $8,511 |
| Net interest income | $7,542 |
| Total noninterest income | $986 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $195 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $791 |
| Pre-tax net operating income | $2,187 |
| Securities gains (or losses, -) | $33 |
| Income before extraordinary items | $1,848 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,848 |
| Minority interest net income | $0 |
| Net income | $1,848 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $1,820 |
Seneca Savings's gross interest income from loans was $8,511,000.
Seneca Savings's net interest income from loans was $7,542,000.
Seneca Savings's fee based income from loans was $195,000.
Seneca Savings's net income from loans was $1,848,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $969 |
| Provision for credit losses | $300 |
| Total noninterest expense | $6,041 |
| Salaries and employee benefits | $3,325 |
| Premises and equipment expense | $744 |
| Additional noninterest expense | $1,972 |
| Applicable income taxes | $372 |
| Net charge-offs | $44 |
| Cash dividends | $0 |
Seneca Savings's interest expense for loans was $969,000.
Seneca Savings's payroll and benefits expense were $3,325,000.
Seneca Savings's property, plant and equipment expenses $744,000.
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 | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| 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 | $164,836 |
| Deposits held in domestic offices | $164,836 |
| Deposits by Individuals, partnerships, and corporations | $150,363 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $10,755 |
| Deposits by Commercial banks and other depository institutions in U.S. | $3,719 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $123,399 |
| Demand deposits | $31,143 |
| Nontransaction accounts | $41,438 |
| Money market deposit accounts (MMDAs) | $0 |
| Other savings deposits (excluding MMDAs) | $0 |
| Total time deposits | $41,438 |
| Total time and savings deposits | $133,694 |
| Noninterest-bearing deposits | $31,159 |
| Interest-bearing deposits | $133,677 |
| Retail deposits | $149,887 |
| IRAs and Keogh plan accounts | $2,252 |
| Brokered deposits | $2,988 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $215,022 |
| Cash & Balances due from depository institutions | $3,526 |
| Interest-bearing balances | $2,622 |
| Total securities | $43,800 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $150,136 |
| Loan and leases loss allowance | $1,896 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $5,801 |
| Other real estate owned | $40 |
| Goodwill and other intangibles | $0 |
| All other assets | $11,719 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $215,022 |
| Total Liabilities | $192,112 |
| Total deposits | $164,836 |
| Interest-bearing deposits | $133,677 |
| Deposits held in domestic offices | $164,836 |
| % insured (estimated) | $81 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $25,666 |
| Subordinated debt | $0 |
| All other liabilities | $1,610 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $150,136 |
| Loan and leases loss allowance | $1,896 |
| Total loans and leases (domestic) | $152,032 |
| All real estate loans | $136,291 |
| Real estate loans in domestic offices | $136,291 |
| Construction and development loans | $4,003 |
| Residential 1-4 family construction | $1,885 |
| Other construction, all land development and other land | $2,118 |
| Loans secured by nonfarm nonresidential properties | $34,289 |
| Nonfarm nonresidential secured by owner-occupied properties | $11,681 |
| Commercial real estate & other non-farm, non-residential | $22,608 |
| Multifamily residential real estate | $2,338 |
| 1-4 family residential loans | $95,589 |
| Farmland loans | $72 |
| Loans held in foreign offices | $0 |
| Farm loans | $1 |
| Commercial and industrial loans | $15,271 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $385 |
| Credit card loans | $0 |
| Related Plans | $50 |
| Consumer Auto Loans | $177 |
| Other loans to individuals | $158 |
| All other loans & leases | $84 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $84 |
| 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 | $273 |
| Non 1-4 family restructured loans & leases | $273 |
| Total loans and leases (foreign) | $0 |
Seneca Savings had $150,136,000 of loans outstanding in 2021. $136,291,000 of loans were in real estate loans. $4,003,000 of loans were in development loans. $2,338,000 of loans were in multifamily mortgage loans. $95,589,000 of loans were in 1-4 family mortgage loans. $1,000 of loans were in farm loans. $0 of loans were in credit card loans. $177,000 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 | 86 | $23,039 | $267,895 |
| Nonfarm, nonresidential loans - <$100k | 3 | $102 | $34,000 |
| Nonfarm, nonresidential loans - $100-250k | 40 | $6,399 | $159,975 |
| Nonfarm, nonresidential loans - $250k-1MM | 43 | $16,538 | $384,605 |
| Commercial & Industrial, US addressed loans - <$1MM | 220 | $14,588 | $66,309 |
| Commercial & Industrial, US addressed loans - <$100k | 174 | $4,370 | $25,115 |
| Commercial & Industrial, US addressed loans - $100-250k | 31 | $5,070 | $163,548 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 15 | $5,148 | $343,200 |
| Farmland loans - <$1MM | 1 | $72 | $72,000 |
| Farmland loans - <$100k | 1 | $72 | $72,000 |
| Agriculture operations loans - <$1MM | 1 | $1 | $1,000 |
| Agriculture operations loans - <$100k | 1 | $1 | $1,000 |