Alden State Bank Mortgage Rates, Fees & Info

Alden, NY

LEI: 5493007D8SNLKCBE4P48

Tax ID: 16-0327665

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Alden State Bank is a smaller bank specializing in Home Purchase and Refi loans. Alden State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Buffalo, Batavia, Jamestown, and Olean among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Alden State Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    316

    Origination Dollar Volume (All Markets)

    $49,450,000

    Employee count

    60

    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
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 265 $43,895,000 $165,642 $0 0.00%
    Batavia, NY (FHA|USDA|VA) 30 $3,550,000 $118,333 $0 0.00%
    Outside of Metro Areas 13 $1,365,000 $105,000 $0 0.00%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 5 $345,000 $69,000 $0 0.00%
    Olean, NY (FHA|USDA|VA) 3 $295,000 $98,333 $0 0.00%
    Alden State Bank's top markets include Buffalo, Batavia, Jamestown, and Olean 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 316 $49,450,000 $156,487 $0 0.00%

    For 2019, Alden State Bank's most frequently originated type of loan was Conventional, with 316 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 140 $24,760,000 $176,857 $0 0.00%
    Refi 124 $20,850,000 $168,145 $0 0.00%
    Home Improvement 39 $3,205,000 $82,179 $0 0.00%
    Other 13 $635,000 $48,846 $0 0.00%

    For 2019, Alden State Bank's most frequently cited loan purpose was Home Purchase, with 140 originations. The 2nd most popular reason was Refi, with 124 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 316 $49,450,000 $156,487 $0 0.00%

    For 2019, Alden State Bank's most frequently cited loan duration was Other, with 316 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 148 $8,430,000 $56,959 $0 0.00%
    $100k-200k 102 $14,300,000 $140,196 $0 0.00%
    $200k-400k 50 $13,810,000 $276,200 $0 0.00%
    $600k-1MM 7 $6,035,000 $862,143 $0 0.00%
    $400k-600k 6 $2,770,000 $461,667 $0 0.00%
    $1MM+ 3 $4,105,000 $1,368,333 $0 0.00%

    2019 saw Alden State Bank place emphasis on $100,000 or less loans with 148 originations, totaling $8,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 55 $4,475,000 $81,364 $0 0.00%
    $50k-75k 51 $5,875,000 $115,196 $0 0.00%
    $100k-150k 42 $6,520,000 $155,238 $0 0.00%
    $75k-100k 40 $4,620,000 $115,500 $0 0.00%
    $150k-250k 14 $3,870,000 $276,429 $0 0.00%
    $250k+ 5 $2,715,000 $543,000 $0 0.00%

    Alden State Bank lent most frequently to those with incomes in the $50k or less range, with 55 originations. The second most popular income band? $50k-75k, with 51 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 316 $49,450,000 $156,487 $0 0.00%

    Alden State Bank lent most frequently to those with DTI ratios of Exempt%, with 316 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 216 $30,050,000 $139,120 $0 0.00%
    Not applicable 95 $17,295,000 $182,053 $0 0.00%
    Asian 3 $1,715,000 $571,667 $0 0.00%
    Not provided 1 $325,000 $325,000 $0 0.00%
    Black 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.51%

    Alden State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.09%

    Alden State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 316 $49,450,000 $156,487

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 15 $8,335,000 $555,667
    Single Family (1-4 Units):Manufactured 1 $95,000 $95,000
    Single Family (1-4 Units):Site-Built 300 $41,020,000 $136,733

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    ALLIED MORTGAGE GROUP Conventional home mortgage Closing on a mortgage 1 33.3%
    ALLIED MORTGAGE GROUP Conventional home mortgage Trouble during payment process 1 33.3%
    ALLIED MORTGAGE GROUP Other type of mortgage Trouble during payment process 1 33.3%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Alden State Bank 13216 Broadway Alden, NY 14004 Full Service B&M $230,273
    Alden State Bank 5802 Broadway Lancaster, NY 14086 Full Service B&M $66,227

    For 2019, Alden State Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,623
    Net interest income $13,862
    Total noninterest income $1,571
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $588
    Trading account gains and fees $0
    Additional Noninterest Income $983
    Pre-tax net operating income $6,020
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,781
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,781
    Minority interest net income $0
    Net income $4,781
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,781

    Alden State Bank's gross interest income from loans was $15,623,000.
    Alden State Bank's net interest income from loans was $13,862,000.
    Alden State Bank's fee based income from loans was $588,000.
    Alden State Bank's net income from loans was $4,781,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,761
    Provision for credit losses $1,300
    Total noninterest expense $8,113
    Salaries and employee benefits $4,608
    Premises and equipment expense $572
    Additional noninterest expense $2,933
    Applicable income taxes $1,239
    Net charge-offs $1,240
    Cash dividends $1,428

    Alden State Bank's interest expense for loans was $1,761,000.
    Alden State Bank's payroll and benefits expense were $4,608,000.
    Alden State Bank's property, plant and equipment expenses $572,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 4.0%
    Real Estate loans 4.0%
    Construction & Land Development loans 2.0%
    Nonfarm, nonresidential loans 8.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 4.0%
    HELOC loans 0.0%
    All other family 4.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $298,729
    Deposits held in domestic offices $298,729
    Deposits by Individuals, partnerships, and corporations $269,574
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $29,154
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $102,855
    Demand deposits $67,162
    Nontransaction accounts $195,874
    Money market deposit accounts (MMDAs) $53,819
    Other savings deposits (excluding MMDAs) $73,430
    Total time deposits $68,625
    Total time and savings deposits $231,567
    Noninterest-bearing deposits $67,162
    Interest-bearing deposits $231,567
    Retail deposits $283,179
    IRAs and Keogh plan accounts $15,935
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $344,720
    Cash & Balances due from depository institutions $8,530
    Interest-bearing balances $2,375
    Total securities $41,424
    Federal funds sold & reverse repurchase $199
    Net loans and leases $280,294
    Loan and leases loss allowance $3,507
    Trading account assets $0
    Bank premises and fixed assets $1,913
    Other real estate owned $439
    Goodwill and other intangibles $0
    All other assets $11,921

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $344,720
    Total Liabilities $299,847
    Total deposits $298,729
    Interest-bearing deposits $231,567
    Deposits held in domestic offices $298,729
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,118

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $280,294
    Loan and leases loss allowance $3,507
    Total loans and leases (domestic) $283,801
    All real estate loans $247,631
    Real estate loans in domestic offices $247,631
    Construction and development loans $11,053
    Residential 1-4 family construction $5,388
    Other construction, all land development and other land $5,665
    Loans secured by nonfarm nonresidential properties $35,026
    Nonfarm nonresidential secured by owner-occupied properties $16,804
    Commercial real estate & other non-farm, non-residential $18,222
    Multifamily residential real estate $18,662
    1-4 family residential loans $182,890
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $26
    Commercial and industrial loans $31,468
    To non-U.S. addressees $0
    Loans to individuals $4,570
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $1,662
    Other loans to individuals $2,908
    All other loans & leases $106
    Loans to foreign governments and official institutions $0
    Other loans $106
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Alden State Bank had $280,294,000 of loans outstanding in 2019. $247,631,000 of loans were in real estate loans. $11,053,000 of loans were in development loans. $18,662,000 of loans were in multifamily mortgage loans. $182,890,000 of loans were in 1-4 family mortgage loans. $26,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,662,000 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 218 $34,827 $159,757
    Nonfarm, nonresidential loans - <$100k 71 $3,004 $42,310
    Nonfarm, nonresidential loans - $100-250k 89 $14,472 $162,607
    Nonfarm, nonresidential loans - $250k-1MM 58 $17,351 $299,155
    Commercial & Industrial, US addressed loans - <$1MM 338 $29,554 $87,438
    Commercial & Industrial, US addressed loans - <$100k 258 $8,531 $33,066
    Commercial & Industrial, US addressed loans - $100-250k 43 $5,637 $131,093
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $15,386 $415,838
    Farmland loans - <$1MM 4 $0 $0
    Farmland loans - <$100k 4 $0 $0