Five Star Bank Mortgage Rates, Fees & Info

Warsaw, NY

LEI: 5493006LH4LKHY2EIN26

Tax ID: 16-0621150

5 stars - out of 5 stars, based on 39 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Five Star Bank is a smaller bank specializing in Home Purchase and Refi loans. Five Star Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Buffalo, Rochester, Utica, Olean, and Corning among others. Five Star Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Five Star Bank is typically an average fee lendor.


Originations

1,504

Origination Dollar Volume (All Markets)

$378,590,000

Employee count

562 Show all (6) awards

Relative Rate

Five Star Bank's average 30 year fixed rate mortgage of loans were 2.94%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.21%.

Relative Fees

Five Star Bank's average total fees for a 30 year fixed rate mortgage are $3,717.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 581 $195,905,000 $337,186 $3,969 3.02%
ROCHESTER, NY (FHA|USDA|VA) 506 $118,490,000 $234,170 $2,598 3.04%
UTICA-ROME, NY (FHA|USDA|VA) 2 $16,660,000 $8,330,000 $5,543 3.53%
Outside of Metro Areas 100 $10,930,000 $109,300 $1,972 3.14%
Olean, NY (FHA|USDA|VA) 58 $7,550,000 $130,172 $2,469 3.04%
Corning, NY (FHA|USDA|VA) 70 $7,120,000 $101,714 $1,478 3.10%
Batavia, NY (FHA|USDA|VA) 76 $7,020,000 $92,368 $1,842 2.87%
Seneca Falls, NY (FHA|USDA|VA) 43 $4,205,000 $97,791 $1,528 3.10%
Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 19 $4,075,000 $214,474 $3,712 3.16%
ELMIRA, NY (FHA|USDA|VA) 32 $3,740,000 $116,875 $2,070 3.32%
Auburn, NY (FHA|USDA|VA) 12 $1,410,000 $117,500 $2,936 2.94%
SYRACUSE, NY (FHA|USDA|VA) 4 $1,360,000 $340,000 $3,409 3.16%
BINGHAMTON, NY (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.83%

Five Star Bank's top markets include Buffalo, Rochester, Utica, Olean, and Corning among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,465 $372,695,000 $254,399 $2,866 3.05%
FHA 38 $5,670,000 $149,211 $5,391 2.84%
VA 1 $225,000 $225,000 $4,101 3.00%

For the 2021 period, Five Star Bank's most frequently originated loan type of loans were Conventional, with 1,465 originations. Their 2nd most popular type is FHA, with 38 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 732 $190,300,000 $259,973 $3,451 2.96%
Cash Out Refi 318 $46,060,000 $144,843 $2,342 3.23%
Refi 238 $98,110,000 $412,227 $2,788 3.06%
Other 113 $7,855,000 $69,513 $1,175 3.01%
Home Improvement 103 $36,265,000 $352,087 $982 3.05%

For the 2021, Five Star Bank's most frequently cited loan purpose of loans were Home Purchase, with 732 originations. The 2nd most popular reason of loans were Cash Out Refi, with 318 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 891 $123,115,000 $138,176 $3,717 2.94%
15 Year 252 $34,560,000 $137,143 $2,070 3.00%
20 Year 207 $32,565,000 $157,319 $1,550 3.58%
10 Year 96 $72,860,000 $758,958 $345 2.69%
Other 35 $97,175,000 $2,776,429 $2,187 3.44%
30+ year 12 $5,820,000 $485,000 $8,810 3.19%
5 Year 8 $11,900,000 $1,487,500 $0 3.99%
3 Year 3 $595,000 $198,333 $0 3.96%

For the 2021, Five Star Bank's most frequently cited loan length of loans were 30 Year, with 891 originations. The 2nd most popular length of loans were 15 Year, with 252 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 783 $94,895,000 $121,194
$1k-2k 162 $32,000,000 $197,531
$2k-3k 91 $17,975,000 $197,527
$3k-4k 79 $19,195,000 $242,975
$5k+ 34 $10,430,000 $306,765

$3,717 of loans were Five Star Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 783 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 622 $136,840,000 $220,000
3-4% 493 $132,415,000 $268,590
<2.5% 253 $24,295,000 $96,028
4-5% 119 $83,375,000 $700,630
5-6% 17 $1,665,000 $97,941

During 2021, Five Star Bank's average interest rate of loans were 2.94%, while their most frequently originated rate bucket of loans were 2.5-3%, with 622 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 669 $96,575,000 $144,357 $2,921 3.04%
$100,000 or less 536 $31,930,000 $59,571 $1,455 2.95%
$200k-400k 221 $57,665,000 $260,928 $4,829 3.06%
$1MM+ 31 $164,815,000 $5,316,613 $13,846 3.82%
$400k-600k 25 $11,665,000 $466,600 $7,309 3.37%
$600k-1MM 22 $15,940,000 $724,545 $7,719 3.68%

2021 saw Five Star Bank place emphasis on $100k-200k loans with 669 originations, totaling $96,575,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 463 $49,105,000 $106,058 $2,638 2.95%
$50k-75k 391 $47,915,000 $122,545 $2,677 3.00%
$75k-100k 204 $27,640,000 $135,490 $3,064 2.99%
$100k-150k 202 $34,330,000 $169,950 $3,739 3.10%
$150k-250k 91 $19,905,000 $218,736 $4,507 2.94%
$250k+ 36 $13,490,000 $374,722 $4,768 3.07%

Five Star Bank lent most frequently to those with incomes in the $50k or less range, with 463 originations. The second most popular income band? $50k-75k, with 391 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 320 $42,310,000 $132,219 $2,828 2.95%
30-36% 303 $40,285,000 $132,954 $2,839 2.99%
42% 131 $16,695,000 $127,443 $2,318 2.99%
<20% 96 $11,500,000 $119,792 $2,132 3.04%
41% 93 $12,575,000 $135,215 $2,688 3.04%
39% 83 $12,375,000 $149,096 $2,656 3.15%
38% 78 $11,680,000 $149,744 $3,303 3.07%
40% 68 $8,830,000 $129,853 $2,892 3.09%
37% 67 $8,495,000 $126,791 $2,728 3.02%
36% 58 $8,320,000 $143,448 $2,978 2.88%
43% 32 $4,770,000 $149,063 $3,344 2.90%
44% 28 $4,930,000 $176,071 $4,616 2.97%
47% 15 $3,385,000 $225,667 $5,397 2.90%
48% 14 $2,650,000 $189,286 $5,507 2.79%
45% 14 $2,190,000 $156,429 $4,391 2.63%
49% 12 $2,560,000 $213,333 $4,961 2.61%
46% 10 $2,060,000 $206,000 $5,230 2.86%
50-60% 6 $930,000 $155,000 $4,773 2.27%
>60% 2 $1,980,000 $990,000 $13,846 1.75%

Five Star Bank lent most frequently to those with DTI ratios of 20-30%, with 320 originations. The next most common DTI ratio? 30-36%, with 303 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 67 $178,975,000 $2,671,269 $0 4.16%
White 1,231 $172,655,000 $140,256 $2,938 2.99%
Black 113 $14,495,000 $128,274 $3,105 2.92%
Asian 45 $6,545,000 $145,444 $3,186 3.05%
Not provided 44 $5,640,000 $128,182 $2,722 3.05%
American Indian 2 $180,000 $90,000 $1,418 3.25%
Guamanian 1 $55,000 $55,000 $3,301 3.00%
Other Asian 1 $45,000 $45,000 $0 3.63%

Approval Rates

Total approvals of all applications
89.45%

Five Star Bank has an average approval rate.

Pick Rate

Approvals leading to origination
88.74%

Five Star Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,504 $378,590,000 $251,722

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,504 $378,590,000 $251,722

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 188 $14,800,000 $78,723 $677 2.96%
40-60% 179 $31,015,000 $173,268 $1,851 3.08%
60-80% 364 $216,450,000 $594,643 $3,753 3.21%
80-100% 664 $112,570,000 $169,533 $3,259 3.07%
Under 20% 109 $3,755,000 $34,450 $459 2.41%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Five Star Bank 2833 Ridge Road W. Ste 29 Greece, NY 14626 Full Service B&M $43,949
Five Star Bank 129 Elm Street Penn Yan, NY 14527 Full Service B&M $112,356
Five Star Bank 124 West Main Street Le Roy, NY 14482 Full Service B&M $80,007
Five Star Bank 150 Lake Street Elmira, NY 14901 Full Service B&M $97,130
Five Star Bank 152 Franklin Street Dansville, NY 14437 Full Service B&M $78,996
Five Star Bank 184 South Main Street Naples, NY 14512 Full Service B&M $61,967
Five Star Bank 166 West Main Street Honeoye Falls, NY 14472 Full Service B&M $43,543
Five Star Bank 1 South Main Street Wayland, NY 14572 Full Service B&M $70,942
Five Star Bank 100 Chestnut Street Rochester, NY 14604 Full Service B&M $41,790
Five Star Bank 102 North Main Street Albion, NY 14411 Full Service B&M $93,744
Five Star Bank 107 Main Street Salamanca, NY 14779 Full Service B&M $101,286
Five Star Bank 12209 Route 16 Yorkshire, NY 14173 Full Service B&M $58,916
Five Star Bank 395 Westfall Road Rochester, NY 14620 Full Service B&M $28,977
Five Star Bank 40-50 Fountain Plaza, Suite 150 Buffalo, NY 14202 Full Service B&M $21,529
Five Star Bank 401 West Main Street Batavia, NY 14020 Full Service B&M $146,139
Five Star Bank 4431 Genesee Valley Plaza Geneseo, NY 14454 Full Service B&M $97,356
Five Star Bank 451 Elmwood Avenue Buffalo, NY 14222 Full Service B&M $1
Five Star Bank 54 Washington Street Ellicottville, NY 14731 Full Service B&M $50,095
Five Star Bank 5491 Sheridan Drive Amherst, NY 14221 Full Service B&M $90,049
Five Star Bank 55 North Main Street Warsaw, NY 14569 Full Service B&M $1,142,474
Five Star Bank 60 West Main Street Allegany, NY 14706 Full Service B&M $153,561
Five Star Bank 7434 Seneca Road North Hornell, NY 14843 Full Service B&M $61,829
Five Star Bank 765 Calkins Road Rochester, NY 14623 Full Service B&M $133,947
Five Star Bank 3 West Main Street Victor, NY 14564 Full Service B&M $76,882
Five Star Bank 309 South Main Street Horseheads, NY 14845 Full Service B&M $93,460
Five Star Bank 3110 Main Street Caledonia, NY 14423 Full Service B&M $38,379
Five Star Bank 3131 Silverback Lane Painted Post, NY 14870 Full Service B&M $59,983
Five Star Bank 3177 Chili Avenue Rochester, NY 14624 Full Service B&M $40,942
Five Star Bank 32 Main Street Dundee, NY 14837 Full Service B&M $60,084
Five Star Bank 323 Washington Street Bath, NY 14810 Full Service B&M $188,516
Five Star Bank 3233 Southwestern Boulevard Orchard Park, NY 14127 Full Service B&M $55,864
Five Star Bank 3261 Rochester Road Lakeville, NY 14480 Full Service B&M $72,200
Five Star Bank 327 Main Street Medina, NY 14103 Full Service B&M $34,978
Five Star Bank 345 West Genesee Street Auburn, NY 13021 Full Service B&M $114,659
Five Star Bank 3672 Route 78 Strykersville, NY 14145 Full Service B&M $71,891
Five Star Bank 387 Hamilton Street Geneva, NY 14456 Full Service B&M $149,189
Five Star Bank 1940 Monroe Ave Rochester, NY 14618 Full Service B&M $27,519
Five Star Bank 1940 Routes 5 & 20 Waterloo, NY 13165 Full Service B&M $137,082
Five Star Bank 2 West Avenue Brockport, NY 14420 Full Service B&M $53,737
Five Star Bank 211 Main Street East Aurora, NY 14052 Full Service B&M $66,625
Five Star Bank 2168 Route 96 A Ovid, NY 14521 Full Service B&M $40,653
Five Star Bank 22 Shether Street Hammondsport, NY 14840 Full Service B&M $52,776
Five Star Bank 2222 Seneca Street Buffalo, NY 14210 Full Service B&M $1
Five Star Bank 23 State Street Mount Morris, NY 14510 Full Service B&M $93,808
Five Star Bank 2330 North Main Street Warsaw, NY 14569 Full Service B&M $89,693
Five Star Bank 2425 Rochester Road Canandaigua, NY 14424 Full Service B&M $93,768
Five Star Bank 26 Main Street Attica, NY 14011 Full Service B&M $110,768
Five Star Bank 27 Water Street Cuba, NY 14727 Full Service B&M $54,973

For 2021, Five Star Bank had 48 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $167,711
Net interest income $159,473
Total noninterest income $30,388
Gross Fiduciary activities income $0
Service charges on deposit accounts $4,990
Trading account gains and fees $2,852
Additional Noninterest Income $22,546
Pre-tax net operating income $102,690
Securities gains (or losses, -) $71
Income before extraordinary items $81,723
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $81,723
Minority interest net income $0
Net income $81,723
Sale, conversion, retirement of capital stock, net $0
Net operating income $81,666

Five Star Bank's gross interest income from loans was $167,711,000.
Five Star Bank's net interest income from loans was $159,473,000.
Five Star Bank's fee based income from loans was $4,990,000.
Five Star Bank's net income from loans was $81,723,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $8,238
Provision for credit losses $-8,317
Total noninterest expense $95,488
Salaries and employee benefits $50,398
Premises and equipment expense $13,522
Additional noninterest expense $31,568
Applicable income taxes $21,038
Net charge-offs $5,760
Cash dividends $24,000

Five Star Bank's interest expense for loans was $8,238,000.
Five Star Bank's payroll and benefits expense were $50,398,000.
Five Star Bank's property, plant and equipment expenses $13,522,000.

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 $4,854,871
Deposits held in domestic offices $4,854,871
Deposits by Individuals, partnerships, and corporations $3,579,557
Deposits by U.S. Government $11
Deposits by States and political subdivisions in the U.S. $1,263,165
Deposits by Commercial banks and other depository institutions in U.S. $12,138
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $726,352
Demand deposits $516,060
Nontransaction accounts $4,128,519
Money market deposit accounts (MMDAs) $2,631,442
Other savings deposits (excluding MMDAs) $587,822
Total time deposits $909,257
Total time and savings deposits $4,338,811
Noninterest-bearing deposits $1,135,342
Interest-bearing deposits $3,719,529
Retail deposits $4,383,433
IRAs and Keogh plan accounts $62,757
Brokered deposits $254,674
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $5,481,889
Cash & Balances due from depository institutions $74,488
Interest-bearing balances $29,549
Total securities $1,384,096
Federal funds sold & reverse repurchase $0
Net loans and leases $3,645,984
Loan and leases loss allowance $39,654
Trading account assets $14,702
Bank premises and fixed assets $60,822
Other real estate owned $0
Goodwill and other intangibles $50,056
All other assets $251,741

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $5,481,889
Total Liabilities $4,960,480
Total deposits $4,854,871
Interest-bearing deposits $3,719,529
Deposits held in domestic offices $4,854,871
% insured (estimated) $74
Federal funds purchased and repurchase agreements $0
Trading liabilities $14,708
Other borrowed funds $30,000
Subordinated debt $0
All other liabilities $60,901

Issued Loan Types

Type Value (in 000's)
Net loans and leases $3,645,984
Loan and leases loss allowance $39,654
Total loans and leases (domestic) $3,685,638
All real estate loans $2,083,678
Real estate loans in domestic offices $2,083,678
Construction and development loans $262,154
Residential 1-4 family construction $10,365
Other construction, all land development and other land $251,789
Loans secured by nonfarm nonresidential properties $842,360
Nonfarm nonresidential secured by owner-occupied properties $231,717
Commercial real estate & other non-farm, non-residential $610,643
Multifamily residential real estate $287,326
1-4 family residential loans $681,438
Farmland loans $10,400
Loans held in foreign offices $0
Farm loans $13,958
Commercial and industrial loans $559,709
To non-U.S. addressees $0
Loans to individuals $972,145
Credit card loans $0
Related Plans $2,657
Consumer Auto Loans $954,579
Other loans to individuals $14,909
All other loans & leases $56,147
Loans to foreign governments and official institutions $0
Other loans $29,637
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 $10,001
Restructured Loans & leases $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Five Star Bank had $3,645,984,000 of loans outstanding in 2021. $2,083,678,000 of loans were in real estate loans. $262,154,000 of loans were in development loans. $287,326,000 of loans were in multifamily mortgage loans. $681,438,000 of loans were in 1-4 family mortgage loans. $13,958,000 of loans were in farm loans. $0 of loans were in credit card loans. $954,579,000 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 345 $86,931 $251,974
Nonfarm, nonresidential loans - <$100k 52 $1,706 $32,808
Nonfarm, nonresidential loans - $100-250k 99 $9,846 $99,455
Nonfarm, nonresidential loans - $250k-1MM 194 $75,379 $388,552
Commercial & Industrial, US addressed loans - <$1MM 2,320 $103,389 $44,564
Commercial & Industrial, US addressed loans - <$100k 1,814 $23,047 $12,705
Commercial & Industrial, US addressed loans - $100-250k 257 $19,735 $76,790
Commercial & Industrial, US addressed loans - $250k-1MM 249 $60,607 $243,402
Farmland loans - <$1MM 28 $2,978 $106,357
Farmland loans - <$100k 5 $61 $12,200
Farmland loans - $100-250k 12 $920 $76,667
Farmland loans - $250k-1MM 11 $1,997 $181,545
Agriculture operations loans - <$1MM 185 $4,263 $23,043
Agriculture operations loans - <$100k 164 $1,961 $11,957
Agriculture operations loans - $100-250k 14 $623 $44,500
Agriculture operations loans - $250k-1MM 7 $1,679 $239,857