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

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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, Jamestown, and Rochester 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 average approval rate when compared to the average across all lenders. They have an 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.

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    Originations

    265

    Origination Dollar Volume (All Markets)

    $46,875,000

    Employee count

    64

    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) 209 $40,845,000 $195,431 $0 0.00%
    Batavia, NY (FHA|USDA|VA) 27 $2,655,000 $98,333 $0 0.00%
    Outside of Metro Areas 18 $2,000,000 $111,111 $0 0.00%
    Olean, NY (FHA|USDA|VA) 3 $625,000 $208,333 $0 0.00%
    Jamestown-Dunkirk-Fredonia, NY (FHA|USDA|VA) 5 $445,000 $89,000 $0 0.00%
    ROCHESTER, NY (FHA|USDA|VA) 3 $305,000 $101,667 $0 0.00%
    Alden State Bank's top markets include Buffalo, Batavia, Olean, Jamestown, and Rochester 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 265 $46,875,000 $176,887 $0 0.00%

    For 2021, Alden State Bank's most frequently originated type of loan was Conventional, with 265 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 117 $16,795,000 $143,547 $0 0.00%
    Home Purchase 107 $27,065,000 $252,944 $0 0.00%
    Home Improvement 31 $2,355,000 $75,968 $0 0.00%
    Other 10 $660,000 $66,000 $0 0.00%

    For 2021, Alden State Bank's most frequently cited loan purpose was Refi, with 117 originations. The 2nd most popular reason was Home Purchase, with 107 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 265 $46,875,000 $176,887 $0 0.00%

    For 2021, Alden State Bank's most frequently cited loan duration was Other, with 265 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 113 $6,315,000 $55,885 $0 0.00%
    $100k-200k 77 $10,745,000 $139,545 $0 0.00%
    $200k-400k 59 $16,005,000 $271,271 $0 0.00%
    $400k-600k 9 $4,235,000 $470,556 $0 0.00%
    $600k-1MM 4 $3,000,000 $750,000 $0 0.00%
    $1MM+ 3 $6,575,000 $2,191,667 $0 0.00%

    2021 saw Alden State Bank place emphasis on $100,000 or less loans with 113 originations, totaling $6,315,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 52 $6,670,000 $128,269 $0 0.00%
    $50k or less 43 $4,125,000 $95,930 $0 0.00%
    $75k-100k 39 $4,965,000 $127,308 $0 0.00%
    $100k-150k 31 $4,955,000 $159,839 $0 0.00%
    $150k-250k 12 $2,830,000 $235,833 $0 0.00%
    $250k+ 3 $1,925,000 $641,667 $0 0.00%

    Alden State Bank lent most frequently to those with incomes in the $50k-75k range, with 52 originations. The second most popular income band? $50k or less, with 43 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 265 $46,875,000 $176,887 $0 0.00%

    Alden State Bank lent most frequently to those with DTI ratios of Exempt%, with 265 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 182 $26,080,000 $143,297 $0 0.00%
    Not applicable 75 $19,245,000 $256,600 $0 0.00%
    Not provided 2 $530,000 $265,000 $0 0.00%
    Black 3 $465,000 $155,000 $0 0.00%
    Asian 2 $440,000 $220,000 $0 0.00%
    Asian Indian 1 $115,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.51%

    Alden State Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.08%

    Alden State Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 265 $46,875,000 $176,887

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    265 $46,875,000 $176,887

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    ALLIED MORTGAGE GROUP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 20.0%
    ALLIED MORTGAGE GROUP Conventional home mortgage Trouble during payment process 2 40.0%
    ALLIED MORTGAGE GROUP FHA mortgage Trouble during payment process 2 40.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Alden State Bank 13216 Broadway Alden, NY 14004 Full Service B&M $312,151
    Alden State Bank 5802 Broadway Lancaster, NY 14086 Full Service B&M $136,668

    For 2021, Alden State Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $14,876
    Net interest income $14,175
    Total noninterest income $1,413
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $367
    Trading account gains and fees $0
    Additional Noninterest Income $1,046
    Pre-tax net operating income $5,856
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,773
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,773
    Minority interest net income $0
    Net income $4,773
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,773

    Alden State Bank's gross interest income from loans was $14,876,000.
    Alden State Bank's net interest income from loans was $14,175,000.
    Alden State Bank's fee based income from loans was $367,000.
    Alden State Bank's net income from loans was $4,773,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $701
    Provision for credit losses $974
    Total noninterest expense $8,758
    Salaries and employee benefits $5,074
    Premises and equipment expense $654
    Additional noninterest expense $3,030
    Applicable income taxes $1,083
    Net charge-offs $690
    Cash dividends $1,428

    Alden State Bank's interest expense for loans was $701,000.
    Alden State Bank's payroll and benefits expense were $5,074,000.
    Alden State Bank's property, plant and equipment expenses $654,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 3.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 0.0%
    All other family 3.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $390,243
    Deposits held in domestic offices $390,243
    Deposits by Individuals, partnerships, and corporations $349,743
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $40,500
    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 $157,562
    Demand deposits $111,635
    Nontransaction accounts $232,681
    Money market deposit accounts (MMDAs) $65,450
    Other savings deposits (excluding MMDAs) $112,623
    Total time deposits $54,608
    Total time and savings deposits $278,608
    Noninterest-bearing deposits $157,561
    Interest-bearing deposits $232,682
    Retail deposits $373,349
    IRAs and Keogh plan accounts $18,278
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $442,932
    Cash & Balances due from depository institutions $36,022
    Interest-bearing balances $31,793
    Total securities $92,151
    Federal funds sold & reverse repurchase $2,923
    Net loans and leases $294,892
    Loan and leases loss allowance $4,312
    Trading account assets $0
    Bank premises and fixed assets $4,305
    Other real estate owned $85
    Goodwill and other intangibles $0
    All other assets $12,554

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $442,932
    Total Liabilities $391,578
    Total deposits $390,243
    Interest-bearing deposits $232,682
    Deposits held in domestic offices $390,243
    % insured (estimated) $77
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $1,335

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $294,892
    Loan and leases loss allowance $4,312
    Total loans and leases (domestic) $299,204
    All real estate loans $258,009
    Real estate loans in domestic offices $258,009
    Construction and development loans $22,373
    Residential 1-4 family construction $5,781
    Other construction, all land development and other land $16,592
    Loans secured by nonfarm nonresidential properties $46,632
    Nonfarm nonresidential secured by owner-occupied properties $16,947
    Commercial real estate & other non-farm, non-residential $29,685
    Multifamily residential real estate $18,701
    1-4 family residential loans $170,303
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $37,674
    To non-U.S. addressees $0
    Loans to individuals $3,493
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $642
    Other loans to individuals $2,851
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Alden State Bank had $294,892,000 of loans outstanding in 2021. $258,009,000 of loans were in real estate loans. $22,373,000 of loans were in development loans. $18,701,000 of loans were in multifamily mortgage loans. $170,303,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $642,000 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 150 $33,323 $222,153
    Nonfarm, nonresidential loans - <$100k 38 $2,556 $67,263
    Nonfarm, nonresidential loans - $100-250k 68 $11,718 $172,324
    Nonfarm, nonresidential loans - $250k-1MM 44 $19,049 $432,932
    Commercial & Industrial, US addressed loans - <$1MM 342 $33,158 $96,953
    Commercial & Industrial, US addressed loans - <$100k 266 $11,588 $43,564
    Commercial & Industrial, US addressed loans - $100-250k 45 $7,672 $170,489
    Commercial & Industrial, US addressed loans - $250k-1MM 31 $13,898 $448,323
    Farmland loans - <$1MM 2 $0 $0
    Farmland loans - <$100k 2 $0 $0