Glens Falls National Bank And Trust Company Mortgage Rates, Fees & Info

Glens Falls, NY

LEI: 549300ERHDU3FCE3FA33

Tax ID: 14-0696635

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • 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

    Glens Falls National Bank And Trust Company is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Glens Falls National Bank And Trust Company 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.) They have a low ratio of USDA loans. Their top markets by origination volume include: Glens Falls, Plattsburgh, Albany, Malone, and Seneca Falls among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Glens Falls National Bank And Trust Company 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. Glens Falls National Bank And Trust Company is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 4.80% 11/17/24
    30 Year Conventional Purchase 6.45% 11/17/24
    30 Year Conventional Refi 6.71% 11/17/24
    30 Year Cash-out Refi 6.74% 11/17/24
    30 Year FHA Purchase 7.36% 11/17/24
    30 Year FHA Refi 7.36% 11/17/24
    30 Year VA Purchase 6.82% 11/17/24
    30 Year USDA Purchase 7.24% 11/17/24
    15 Year Conventional Purchase 5.86% 11/17/24
    15 Year Conventional Refi 6.10% 11/17/24
    15 Year Cash-out Refi 6.10% 11/17/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Glens Falls National Bank And Trust Company Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Glens Falls National Bank And Trust Company. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    683

    Origination Dollar Volume (All Markets)

    $110,765,000

    Employee count

    462 Show all (5) awards

    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
    GLENS FALLS, NY (FHA|USDA|VA) 430 $68,800,000 $160,000 $3,367 3.91%
    Plattsburgh, NY (FHA|USDA|VA) 85 $15,065,000 $177,235 $2,938 3.80%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 91 $13,515,000 $148,516 $3,646 3.92%
    Outside of Metro Areas 62 $8,770,000 $141,452 $3,075 3.83%
    Malone, NY (FHA|USDA|VA) 10 $3,170,000 $317,000 $3,913 4.02%
    Seneca Falls, NY (FHA|USDA|VA) 1 $725,000 $725,000 $0 4.15%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 1 $425,000 $425,000 $6,082 4.50%
    Rutland, VT (FHA|USDA|VA) 1 $205,000 $205,000 $5,616 4.13%
    KINGSTON, NY (FHA|USDA|VA) 1 $45,000 $45,000 $0 2.69%
    Bennington, VT (FHA|USDA|VA) 1 $45,000 $45,000 $0 2.99%
    Glens Falls National Bank And Trust Company's top markets include Glens Falls, Plattsburgh, Albany, Malone, and Seneca Falls among others.

    Their top states include:
  • New York (FHA|USDA|VA)
  • Vermont (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Glens Falls National Bank and Trust Company based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Saratoga National Bank and Trust Company
    Similarity Rank: 80
    National Union Bank of Kinderhook
    Similarity Rank: 96
    HUDSON RIVER COMMUNITY
    Similarity Rank: 156
    FIRST NEW YORK
    Similarity Rank: 228
    TrustCo Bank
    Similarity Rank: 275
    Community Bank
    Similarity Rank: 276
    PARAGON HOME LOANS INC.
    Similarity Rank: 300
    Glens Falls National Bank and Trust Company
    Similarity Rank: 340
    Chemung Canal Trust Company
    Similarity Rank: 765
    CCFCU FUNDING, LLC
    Similarity Rank: 780

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 365 $84,485,000 $231,466 $3,246 4.40%
    HELOC 293 $22,345,000 $76,263 n/a 3.19%
    FHA 10 $1,550,000 $155,000 $5,322 4.96%
    USDA 9 $1,005,000 $111,667 $3,753 4.68%
    VA 6 $1,380,000 $230,000 $5,486 4.75%

    For 2018, Glens Falls National Bank And Trust Company's most frequently originated type of loan was Conventional, with 365 originations. Their 2nd most popular type was HELOC, with 293 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 297 $28,165,000 $94,832 $2,654 3.50%
    Home Purchase 291 $71,775,000 $246,649 $3,586 4.44%
    Home Improvement 37 $2,695,000 $72,838 $1,692 2.85%
    Other 30 $2,910,000 $97,000 $1,215 3.58%
    Refi 28 $5,220,000 $186,429 $3,043 4.11%

    For 2018, Glens Falls National Bank And Trust Company's most frequently cited loan purpose was Cash Out Refi, with 297 originations. The 2nd most popular reason was Home Purchase, with 291 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 495 $67,165,000 $135,687 $3,395 3.67%
    15 Year 63 $11,565,000 $183,571 $2,736 3.95%
    30+ year 45 $14,605,000 $324,556 $5,134 4.54%
    20 Year 32 $7,070,000 $220,938 $2,246 4.76%
    Other 31 $7,715,000 $248,871 $4,610 5.63%
    10 Year 13 $2,455,000 $188,846 $1,684 3.78%
    5 Year 4 $190,000 $47,500 $378 3.62%

    For 2018, Glens Falls National Bank And Trust Company's most frequently cited loan duration was 30 Year, with 495 originations. The 2nd most popular length was 15 Year, with 63 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 250 $46,660,000 $186,640
    $1k-2k 100 $24,880,000 $248,800
    $2k-3k 21 $6,755,000 $321,667
    $3k-4k 3 $705,000 $235,000
    $5k+ 3 $745,000 $248,333

    Glens Falls National Bank And Trust Company's average total fees were $3,395, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 250 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 265 $63,545,000 $239,792
    2.5-3% 228 $18,350,000 $80,482
    3-4% 131 $20,405,000 $155,763
    5-6% 54 $8,330,000 $154,259
    6-7% 5 $135,000 $27,000

    During 2018, Glens Falls National Bank And Trust Company's average interest rate for loans was 3.67%, while their most frequently originated rate bucket for loans was 4-5%, with 265 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 306 $15,800,000 $51,634 $2,071 3.57%
    $100k-200k 213 $30,435,000 $142,887 $3,241 4.06%
    $200k-400k 125 $32,635,000 $261,080 $4,057 4.27%
    $400k-600k 18 $8,350,000 $463,889 $4,109 4.39%
    $600k-1MM 13 $9,805,000 $754,231 $4,759 4.15%
    $1MM+ 8 $13,740,000 $1,717,500 $6,845 4.44%

    2018 saw Glens Falls National Bank And Trust Company place emphasis on $100,000 or less loans with 306 originations, totaling $15,800,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 150 $21,280,000 $141,867 $3,401 3.83%
    $50k-75k 138 $14,010,000 $101,522 $3,337 3.75%
    $50k or less 118 $9,080,000 $76,949 $2,668 3.87%
    $75k-100k 105 $13,165,000 $125,381 $3,441 4.03%
    $150k-250k 78 $14,870,000 $190,641 $3,291 3.89%
    $250k+ 72 $27,670,000 $384,306 $4,161 3.94%

    Glens Falls National Bank And Trust Company lent most frequently to those with incomes in the $100k-150k range, with 150 originations. The second most popular income band? $50k-75k, with 138 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 169 $25,585,000 $151,391 $3,127 3.84%
    30-36% 132 $20,450,000 $154,924 $3,591 4.04%
    <20% 94 $8,350,000 $88,830 $2,614 3.23%
    39% 50 $8,160,000 $163,200 $3,307 4.17%
    37% 38 $7,040,000 $185,263 $3,265 4.25%
    38% 34 $6,320,000 $185,882 $4,168 4.17%
    36% 26 $4,180,000 $160,769 $3,260 3.98%
    42% 16 $2,510,000 $156,875 $3,441 4.21%
    40% 16 $2,410,000 $150,625 $3,671 4.35%
    43% 9 $1,515,000 $168,333 $2,975 3.85%
    50-60% 9 $1,395,000 $155,000 $3,421 3.40%
    41% 9 $1,765,000 $196,111 $2,710 4.61%
    >60% 4 $990,000 $247,500 $3,795 4.20%
    45% 4 $680,000 $170,000 $3,278 4.08%
    48% 3 $625,000 $208,333 $2,815 4.38%
    46% 3 $545,000 $181,667 $3,821 4.71%
    44% 2 $50,000 $25,000 $495 3.84%
    47% 1 $205,000 $205,000 $6,391 4.88%
    49% 1 $35,000 $35,000 $0 3.69%

    Glens Falls National Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 169 originations. The next most common DTI ratio? 30-36%, with 132 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 633 $92,855,000 $146,690 $3,339 3.89%
    Not applicable 12 $8,560,000 $713,333 $0 4.51%
    Not provided 25 $7,375,000 $295,000 $3,595 3.69%
    Asian 6 $880,000 $146,667 $3,314 4.20%
    Black 4 $690,000 $172,500 $2,936 4.37%
    American Indian 2 $220,000 $110,000 $2,791 3.28%
    Native Hawaiian or Islander 1 $185,000 $185,000 $3,150 4.63%

    Approval Rates

    Total approvals of all applications
    86.71%

    Glens Falls National Bank And Trust Company has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.87%

    Glens Falls National Bank And Trust Company has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 683 $110,765,000 $162,174

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $7,835,000 $870,556
    Single Family (1-4 Units):Manufactured 5 $315,000 $63,000
    Single Family (1-4 Units):Site-Built 669 $102,615,000 $153,386

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 108 $8,710,000 $80,648 $2,299 3.32%
    40-60% 84 $13,230,000 $157,500 $3,073 3.69%
    60-80% 155 $36,155,000 $233,258 $3,680 4.11%
    80-100% 167 $38,085,000 $228,054 $3,506 4.48%
    Over 100% 2 $390,000 $195,000 $7,906 4.63%
    Under 20% 119 $5,325,000 $44,748 $601 3.59%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Glens Falls National Bank and Trust Company 1002 State Route 9 Queensbury, NY 12804 Full Service B&M $0
    Glens Falls National Bank and Trust Company 110 George Street Fort Ann, NY 12827 Full Service B&M $15,749
    Glens Falls National Bank and Trust Company 1153 State Route 29 Greenwich, NY 12834 Full Service B&M $0
    Glens Falls National Bank and Trust Company 123 Montcalm Street Ticonderoga, NY 12883 Full Service B&M $54,799
    Glens Falls National Bank and Trust Company 132 Main Street Greenwich, NY 12834 Full Service B&M $41,171
    Glens Falls National Bank and Trust Company 15 Main Street Lake Luzerne, NY 12846 Full Service B&M $46,233
    Glens Falls National Bank and Trust Company 159 Broadway Fort Edward, NY 12828 Full Service B&M $31,921
    Glens Falls National Bank and Trust Company 212 Main Street Salem, NY 12865 Full Service B&M $30,172
    Glens Falls National Bank and Trust Company 221 Corinth Rd Queensbury, NY 12804 Full Service B&M $12,683
    Glens Falls National Bank and Trust Company 2252 State Route 9 Lake George, NY 12845 Full Service B&M $57,955
    Glens Falls National Bank and Trust Company 25 Margaret Street Plattsburgh, NY 12901 Full Service B&M $97,670
    Glens Falls National Bank and Trust Company 25 West Main Street Cambridge, NY 12816 Full Service B&M $46,263
    Glens Falls National Bank and Trust Company 250 Glen Street Glens Falls, NY 12801 Full Service B&M $330,050
    Glens Falls National Bank and Trust Company 3019 State Route 4 Hudson Falls, NY 12839 Full Service B&M $116,164
    Glens Falls National Bank and Trust Company 308 Cornelia Street Plattsburgh, NY 12901 Full Service B&M $70,726
    Glens Falls National Bank and Trust Company 339 Aviation Road Queensbury, NY 12804 Full Service B&M $70,864
    Glens Falls National Bank and Trust Company 343 Broadway Fort Edward, NY 12828 Full Service B&M $29,859
    Glens Falls National Bank and Trust Company 3853 Main Street Warrensburg, NY 12885 Full Service B&M $82,501
    Glens Falls National Bank and Trust Company 4 Broad Street Plaza Glens Falls, NY 12801 Full Service B&M $64,776
    Glens Falls National Bank and Trust Company 402 Bay Road Queensbury, NY 12804 Full Service B&M $51,483
    Glens Falls National Bank and Trust Company 4307 Main Street Port Henry, NY 12974 Full Service B&M $33,044
    Glens Falls National Bank and Trust Company 5023 Us Avenue Plattsburgh, NY 12903 Full Service B&M $23,994
    Glens Falls National Bank and Trust Company 6353 State Route 9 Chestertown, NY 12817 Full Service B&M $67,429
    Glens Falls National Bank and Trust Company 696 Upper Glen Street Queensbury, NY 12804 Full Service B&M $200,151
    Glens Falls National Bank and Trust Company 73 Broad Street Schuylerville, NY 12871 Full Service B&M $54,060
    Glens Falls National Bank and Trust Company 8646 State Route 22 Granville, NY 12832 Full Service B&M $49,569
    Glens Falls National Bank and Trust Company 93 Main Street Argyle, NY 12809 Full Service B&M $58,711
    Glens Falls National Bank and Trust Company Route 9 Schroon Lake, NY 12870 Full Service B&M $51,224
    Glens Falls National Bank and Trust Company Route 9 South Glens Falls, NY 12803 Full Service B&M $84,031
    Glens Falls National Bank and Trust Company Wicker Street Ticonderoga, NY 12883 Full Service B&M $0

    For 2018, Glens Falls National Bank And Trust Company had 30 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $77,447
    Net interest income $68,492
    Total noninterest income $27,916
    Gross Fiduciary activities income $7,653
    Service charges on deposit accounts $2,880
    Trading account gains and fees $0
    Additional Noninterest Income $17,383
    Pre-tax net operating income $36,896
    Securities gains (or losses, -) $0
    Income before extraordinary items $29,384
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $29,384
    Minority interest net income $0
    Net income $29,384
    Sale, conversion, retirement of capital stock, net $326
    Net operating income $29,384

    Glens Falls National Bank And Trust Company's gross interest income from loans was $77,447,000.
    Glens Falls National Bank And Trust Company's net interest income from loans was $68,492,000.
    Glens Falls National Bank And Trust Company's fee based income from loans was $2,880,000.
    Glens Falls National Bank And Trust Company's net income from loans was $29,384,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,955
    Provision for credit losses $2,200
    Total noninterest expense $57,312
    Salaries and employee benefits $35,199
    Premises and equipment expense $8,499
    Additional noninterest expense $13,614
    Applicable income taxes $7,512
    Net charge-offs $881
    Cash dividends $13,300

    Glens Falls National Bank And Trust Company's interest expense for loans was $8,955,000.
    Glens Falls National Bank And Trust Company's payroll and benefits expense were $35,199,000.
    Glens Falls National Bank And Trust Company's property, plant and equipment expenses $8,499,000.

    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 $1,887,304
    Deposits held in domestic offices $1,887,304
    Deposits by Individuals, partnerships, and corporations $1,433,910
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $448,732
    Deposits by Commercial banks and other depository institutions in U.S. $4,662
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $441,391
    Demand deposits $409,129
    Nontransaction accounts $1,445,913
    Money market deposit accounts (MMDAs) $1,060,293
    Other savings deposits (excluding MMDAs) $193,469
    Total time deposits $192,151
    Total time and savings deposits $1,478,175
    Noninterest-bearing deposits $381,249
    Interest-bearing deposits $1,506,055
    Retail deposits $1,802,515
    IRAs and Keogh plan accounts $45,419
    Brokered deposits $45,068
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,444,624
    Cash & Balances due from depository institutions $68,472
    Interest-bearing balances $21,410
    Total securities $537,675
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,730,878
    Loan and leases loss allowance $16,394
    Trading account assets $0
    Bank premises and fixed assets $25,345
    Other real estate owned $1,130
    Goodwill and other intangibles $22,306
    All other assets $58,818

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,444,624
    Total Liabilities $2,217,630
    Total deposits $1,887,304
    Interest-bearing deposits $1,506,055
    Deposits held in domestic offices $1,887,304
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $57,735
    Trading liabilities $0
    Other borrowed funds $254,000
    Subordinated debt $0
    All other liabilities $18,591

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,730,878
    Loan and leases loss allowance $16,394
    Total loans and leases (domestic) $1,747,272
    All real estate loans $1,018,115
    Real estate loans in domestic offices $1,018,115
    Construction and development loans $40,076
    Residential 1-4 family construction $10,773
    Other construction, all land development and other land $29,303
    Loans secured by nonfarm nonresidential properties $279,189
    Nonfarm nonresidential secured by owner-occupied properties $119,534
    Commercial real estate & other non-farm, non-residential $159,655
    Multifamily residential real estate $56,852
    1-4 family residential loans $641,998
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $92
    Commercial and industrial loans $59,390
    To non-U.S. addressees $0
    Loans to individuals $624,063
    Credit card loans $0
    Related Plans $666
    Consumer Auto Loans $618,848
    Other loans to individuals $4,549
    All other loans & leases $45,612
    Loans to foreign governments and official institutions $0
    Other loans $10,053
    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 $82
    Non 1-4 family restructured loans & leases $82
    Total loans and leases (foreign) $0

    Glens Falls National Bank and Trust Company had $1,730,878,000 of loans outstanding in 2018. $1,018,115,000 of loans were in real estate loans. $40,076,000 of loans were in development loans. $56,852,000 of loans were in multifamily mortgage loans. $641,998,000 of loans were in 1-4 family mortgage loans. $92,000 of loans were in farm loans. $0 of loans were in credit card loans. $618,848,000 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 366 $90,628 $247,617
    Nonfarm, nonresidential loans - <$100k 63 $2,977 $47,254
    Nonfarm, nonresidential loans - $100-250k 121 $14,652 $121,091
    Nonfarm, nonresidential loans - $250k-1MM 182 $72,999 $401,093
    Commercial & Industrial, US addressed loans - <$1MM 1,092 $36,911 $33,801
    Commercial & Industrial, US addressed loans - <$100k 993 $20,474 $20,618
    Commercial & Industrial, US addressed loans - $100-250k 71 $6,078 $85,606
    Commercial & Industrial, US addressed loans - $250k-1MM 28 $10,359 $369,964
    Agriculture operations loans - <$1MM 4 $92 $23,000
    Agriculture operations loans - <$100k 4 $92 $23,000