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 Refi and Home Purchase loans. Alden State Bank has a high proportion of conventional loans. Their top markets by origination volume include: Buffalo, Batavia, Olean, Rochester, and Jamestown among others. We have data for 6 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 a below 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

    268

    Origination Dollar Volume (All Markets)

    $41,000,000

    Employee count

    58

    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) 216 $35,340,000 $163,611 $0 0.00%
    Batavia, NY (FHA|USDA|VA) 25 $1,975,000 $79,000 $0 0.00%
    Outside of Metro Areas 13 $1,605,000 $123,462 $0 0.00%
    Olean, NY (FHA|USDA|VA) 8 $1,370,000 $171,250 $0 0.00%
    ROCHESTER, NY (FHA|USDA|VA) 3 $385,000 $128,333 $0 0.00%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 3 $325,000 $108,333 $0 0.00%
    Alden State Bank's top markets include Buffalo, Batavia, Olean, Rochester, and Jamestown 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 268 $41,000,000 $152,985 $0 0.00%

    For 2020, Alden State Bank's most frequently originated type of loan was Conventional, with 268 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 136 $23,520,000 $172,941 $0 0.00%
    Home Purchase 83 $14,565,000 $175,482 $0 0.00%
    Home Improvement 33 $2,005,000 $60,758 $0 0.00%
    Other 16 $910,000 $56,875 $0 0.00%

    For 2020, Alden State Bank's most frequently cited loan purpose was Refi, with 136 originations. The 2nd most popular reason was Home Purchase, with 83 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 268 $41,000,000 $152,985 $0 0.00%

    For 2020, Alden State Bank's most frequently cited loan duration was Other, with 268 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 129 $7,025,000 $54,457 $0 0.00%
    $100k-200k 80 $11,450,000 $143,125 $0 0.00%
    $200k-400k 43 $11,545,000 $268,488 $0 0.00%
    $400k-600k 10 $4,600,000 $460,000 $0 0.00%
    $1MM+ 3 $4,225,000 $1,408,333 $0 0.00%
    $600k-1MM 3 $2,155,000 $718,333 $0 0.00%

    2020 saw Alden State Bank place emphasis on $100,000 or less loans with 129 originations, totaling $7,025,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 53 $5,965,000 $112,547 $0 0.00%
    $100k-150k 44 $5,610,000 $127,500 $0 0.00%
    $50k or less 40 $4,180,000 $104,500 $0 0.00%
    $75k-100k 33 $3,495,000 $105,909 $0 0.00%
    $150k-250k 12 $1,890,000 $157,500 $0 0.00%
    $250k+ 6 $2,400,000 $400,000 $0 0.00%

    Alden State Bank lent most frequently to those with incomes in the $50k-75k range, with 53 originations. The second most popular income band? $100k-150k, with 44 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 268 $41,000,000 $152,985 $0 0.00%

    Alden State Bank lent most frequently to those with DTI ratios of Exempt%, with 268 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 180 $22,780,000 $126,556 $0 0.00%
    Not applicable 72 $15,970,000 $221,806 $0 0.00%
    Asian 8 $1,180,000 $147,500 $0 0.00%
    Not provided 3 $835,000 $278,333 $0 0.00%
    Black 4 $190,000 $47,500 $0 0.00%
    Asian Indian 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.07%

    Alden State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.43%

    Alden State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 268 $41,000,000 $152,985

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $7,715,000 $701,364
    Single Family (1-4 Units):Site-Built 257 $33,285,000 $129,514

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    ALLIED MORTGAGE GROUP Conventional home mortgage Closing on a mortgage 1 50.0%
    ALLIED MORTGAGE GROUP FHA mortgage Trouble during payment process 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Alden State Bank 13216 Broadway Alden, NY 14004 Full Service B&M $257,028
    Alden State Bank 5802 Broadway Lancaster, NY 14086 Full Service B&M $84,002

    For 2020, Alden State Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,196
    Net interest income $13,839
    Total noninterest income $1,288
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $383
    Trading account gains and fees $0
    Additional Noninterest Income $905
    Pre-tax net operating income $5,467
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,159
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,159
    Minority interest net income $0
    Net income $4,159
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,159

    Alden State Bank's gross interest income from loans was $15,196,000.
    Alden State Bank's net interest income from loans was $13,839,000.
    Alden State Bank's fee based income from loans was $383,000.
    Alden State Bank's net income from loans was $4,159,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,357
    Provision for credit losses $1,074
    Total noninterest expense $8,586
    Salaries and employee benefits $5,082
    Premises and equipment expense $551
    Additional noninterest expense $2,953
    Applicable income taxes $1,308
    Net charge-offs $553
    Cash dividends $1,429

    Alden State Bank's interest expense for loans was $1,357,000.
    Alden State Bank's payroll and benefits expense were $5,082,000.
    Alden State Bank's property, plant and equipment expenses $551,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 3.0%
    Real Estate loans 3.0%
    Construction & Land Development loans 6.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 0.0%
    All other family 3.0%
    Commercial & industrial loans 3.0%
    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 $369,399
    Deposits held in domestic offices $369,399
    Deposits by Individuals, partnerships, and corporations $330,797
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $38,601
    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 $144,726
    Demand deposits $98,044
    Nontransaction accounts $224,673
    Money market deposit accounts (MMDAs) $69,930
    Other savings deposits (excluding MMDAs) $88,810
    Total time deposits $65,933
    Total time and savings deposits $271,355
    Noninterest-bearing deposits $98,044
    Interest-bearing deposits $271,355
    Retail deposits $354,516
    IRAs and Keogh plan accounts $17,009
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $418,232
    Cash & Balances due from depository institutions $58,208
    Interest-bearing balances $50,839
    Total securities $61,893
    Federal funds sold & reverse repurchase $6,051
    Net loans and leases $277,814
    Loan and leases loss allowance $4,028
    Trading account assets $0
    Bank premises and fixed assets $1,842
    Other real estate owned $115
    Goodwill and other intangibles $0
    All other assets $12,309

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $418,232
    Total Liabilities $370,575
    Total deposits $369,399
    Interest-bearing deposits $271,355
    Deposits held in domestic offices $369,399
    % insured (estimated) $75
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,176

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $277,814
    Loan and leases loss allowance $4,028
    Total loans and leases (domestic) $281,842
    All real estate loans $246,845
    Real estate loans in domestic offices $246,845
    Construction and development loans $8,511
    Residential 1-4 family construction $3,221
    Other construction, all land development and other land $5,290
    Loans secured by nonfarm nonresidential properties $46,470
    Nonfarm nonresidential secured by owner-occupied properties $16,171
    Commercial real estate & other non-farm, non-residential $30,299
    Multifamily residential real estate $14,937
    1-4 family residential loans $176,927
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $3
    Commercial and industrial loans $31,735
    To non-U.S. addressees $0
    Loans to individuals $3,196
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $987
    Other loans to individuals $2,209
    All other loans & leases $63
    Loans to foreign governments and official institutions $0
    Other loans $63
    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 $277,814,000 of loans outstanding in 2020. $246,845,000 of loans were in real estate loans. $8,511,000 of loans were in development loans. $14,937,000 of loans were in multifamily mortgage loans. $176,927,000 of loans were in 1-4 family mortgage loans. $3,000 of loans were in farm loans. $0 of loans were in credit card loans. $987,000 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 217 $36,227 $166,945
    Nonfarm, nonresidential loans - <$100k 62 $3,207 $51,726
    Nonfarm, nonresidential loans - $100-250k 100 $14,657 $146,570
    Nonfarm, nonresidential loans - $250k-1MM 55 $18,363 $333,873
    Commercial & Industrial, US addressed loans - <$1MM 298 $28,018 $94,020
    Commercial & Industrial, US addressed loans - <$100k 221 $7,439 $33,661
    Commercial & Industrial, US addressed loans - $100-250k 40 $5,424 $135,600
    Commercial & Industrial, US addressed loans - $250k-1MM 37 $15,155 $409,595
    Farmland loans - <$1MM 4 $0 $0
    Farmland loans - <$100k 4 $0 $0