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

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  • 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 Home Purchase loans. Glens Falls National Bank And Trust Company has a high proportion of conventional loans. They have a low ratio of USDA loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Glens Falls, Albany, Plattsburgh, Malone, and Rutland among others. We have data for 8 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.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 4.80% 4/21/24
    30 Year Conventional Purchase 6.45% 4/21/24
    30 Year Conventional Refi 6.71% 4/21/24
    30 Year Cash-out Refi 6.74% 4/21/24
    30 Year FHA Purchase 7.36% 4/21/24
    30 Year FHA Refi 7.36% 4/21/24
    30 Year VA Purchase 6.82% 4/21/24
    30 Year USDA Purchase 7.24% 4/21/24
    15 Year Conventional Purchase 5.86% 4/21/24
    15 Year Conventional Refi 6.10% 4/21/24
    15 Year Cash-out Refi 6.10% 4/21/24
    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)

    $110,525,000

    Employee count

    466

    Awards

    Glens Falls National Bank and Trust Company 30 Year Conventional Loans bronze
    Show all (1) 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) 436 $69,170,000 $158,647 $3,130 4.03%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 86 $17,180,000 $199,767 $3,708 4.10%
    Plattsburgh, NY (FHA|USDA|VA) 91 $11,925,000 $131,044 $3,020 3.93%
    Outside of Metro Areas 55 $9,215,000 $167,545 $3,452 3.95%
    Malone, NY (FHA|USDA|VA) 10 $2,320,000 $232,000 $3,112 4.50%
    Rutland, VT (FHA|USDA|VA) 2 $470,000 $235,000 $3,552 3.88%
    Gloversville, NY (FHA|USDA|VA) 2 $180,000 $90,000 $4,159 3.88%
    Bennington, VT (FHA|USDA|VA) 1 $65,000 $65,000 $0 3.25%
    Glens Falls National Bank And Trust Company's top markets include Glens Falls, Albany, Plattsburgh, Malone, and Rutland 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.

    Bank of Richmondville
    Similarity Rank: 54
    Saratoga National Bank and Trust Company
    Similarity Rank: 140
    HUDSON RIVER COMMUNITY
    Similarity Rank: 171
    FIRST NEW YORK
    Similarity Rank: 282
    PARAGON HOME LOANS INC.
    Similarity Rank: 299
    Community Bank
    Similarity Rank: 376
    Glens Falls National Bank and Trust Company
    Similarity Rank: 408
    TrustCo Bank
    Similarity Rank: 494
    CCFCU FUNDING, LLC
    Similarity Rank: 576
    SUNMARK FEDERAL CREDIT UNION
    Similarity Rank: 583

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 429 $91,955,000 $214,347 $3,165 4.18%
    HELOC 241 $16,445,000 $68,237 n/a 3.71%
    USDA 6 $880,000 $146,667 $4,087 4.15%
    FHA 5 $795,000 $159,000 $5,700 4.98%
    VA 2 $450,000 $225,000 $5,471 4.63%

    For 2019, Glens Falls National Bank And Trust Company's most frequently originated type of loan was Conventional, with 429 originations. Their 2nd most popular type was HELOC, with 241 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 351 $76,515,000 $217,991 $3,459 4.12%
    Home Improvement 139 $7,265,000 $52,266 $127 4.05%
    Other 99 $7,525,000 $76,010 $204 3.80%
    Cash Out Refi 56 $12,730,000 $227,321 $3,582 3.97%
    Refi 38 $6,490,000 $170,789 $3,109 3.67%

    For 2019, Glens Falls National Bank And Trust Company's most frequently cited loan purpose was Home Purchase, with 351 originations. The 2nd most popular reason was Home Improvement, with 139 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 480 $72,130,000 $150,271 $3,254 3.79%
    15 Year 53 $9,055,000 $170,849 $2,705 3.85%
    30+ year 45 $14,485,000 $321,889 $5,147 4.23%
    Other 44 $7,080,000 $160,909 $4,325 5.60%
    20 Year 35 $6,035,000 $172,429 $2,359 4.86%
    10 Year 13 $585,000 $45,000 $907 4.80%
    5 Year 13 $1,155,000 $88,846 $83 4.41%

    For 2019, Glens Falls National Bank And Trust Company's most frequently cited loan duration was 30 Year, with 480 originations. The 2nd most popular length was 15 Year, with 53 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 267 $48,595,000 $182,004
    $1k-2k 116 $29,220,000 $251,897
    $2k-3k 32 $8,420,000 $263,125
    $3k-4k 7 $1,095,000 $156,429
    $4k-5k 4 $970,000 $242,500
    $5k+ 1 $195,000 $195,000

    Glens Falls National Bank And Trust Company's average total fees were $3,254, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 267 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 418 $63,120,000 $151,005
    4-5% 187 $39,635,000 $211,952
    5-6% 42 $6,200,000 $147,619
    6-7% 34 $1,480,000 $43,529
    7-8% 2 $90,000 $45,000

    During 2019, Glens Falls National Bank And Trust Company's average interest rate for loans was 3.79%, while their most frequently originated rate bucket for loans was 3-4%, with 418 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 274 $13,260,000 $48,394 $1,508 4.02%
    $100k-200k 244 $34,780,000 $142,541 $3,196 4.02%
    $200k-400k 118 $31,240,000 $264,746 $4,061 3.97%
    $400k-600k 30 $14,750,000 $491,667 $4,073 4.10%
    $600k-1MM 12 $9,500,000 $791,667 $5,434 4.30%
    $1MM+ 5 $6,995,000 $1,399,000 $6,779 4.22%

    2019 saw Glens Falls National Bank And Trust Company place emphasis on $100,000 or less loans with 274 originations, totaling $13,260,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 145 $15,365,000 $105,966 $3,073 4.07%
    $75k-100k 130 $16,500,000 $126,923 $3,076 4.07%
    $100k-150k 127 $19,545,000 $153,898 $3,248 3.88%
    $50k or less 113 $9,835,000 $87,035 $2,488 3.87%
    $150k-250k 93 $21,455,000 $230,699 $3,835 4.07%
    $250k+ 56 $21,510,000 $384,107 $4,254 4.07%

    Glens Falls National Bank And Trust Company lent most frequently to those with incomes in the $50k-75k range, with 145 originations. The second most popular income band? $75k-100k, with 130 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 171 $21,815,000 $127,573 $2,978 3.91%
    30-36% 156 $27,180,000 $174,231 $3,393 4.06%
    39% 69 $8,915,000 $129,203 $3,101 4.03%
    <20% 62 $7,160,000 $115,484 $3,314 3.67%
    36% 43 $6,735,000 $156,628 $3,130 4.25%
    37% 32 $5,010,000 $156,563 $2,617 4.38%
    38% 28 $4,030,000 $143,929 $2,913 4.02%
    40% 24 $5,500,000 $229,167 $3,849 3.97%
    42% 15 $2,735,000 $182,333 $3,066 3.83%
    41% 14 $2,330,000 $166,429 $3,743 4.05%
    43% 11 $2,945,000 $267,727 $3,666 3.82%
    45% 10 $2,790,000 $279,000 $3,798 4.01%
    44% 8 $2,790,000 $348,750 $3,577 3.94%
    46% 8 $1,240,000 $155,000 $3,156 4.63%
    50-60% 6 $1,890,000 $315,000 $3,830 3.88%
    47% 4 $910,000 $227,500 $2,953 4.00%
    48% 4 $540,000 $135,000 $2,911 3.91%
    49% 2 $350,000 $175,000 $2,920 3.31%
    >60% 1 $75,000 $75,000 $460 4.74%

    Glens Falls National Bank And Trust Company lent most frequently to those with DTI ratios of 20-30%, with 171 originations. The next most common DTI ratio? 30-36%, with 156 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 633 $98,475,000 $155,569 $3,179 4.00%
    Not provided 31 $6,475,000 $208,871 $3,319 4.08%
    Not applicable 11 $4,055,000 $368,636 $0 5.20%
    Asian 5 $765,000 $153,000 $4,173 4.20%
    Black 2 $400,000 $200,000 $6,659 4.13%
    American Indian 1 $355,000 $355,000 $5,165 3.25%

    Approval Rates

    Total approvals of all applications
    85.21%

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

    Pick Rate

    Approvals leading to origination
    76.13%

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

    Points and Fees

    Points Originations Total Value Average Loan
    NA 683 $110,525,000 $161,823

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $5,090,000 $509,000
    Single Family (1-4 Units):Manufactured 7 $555,000 $79,286
    Single Family (1-4 Units):Site-Built 666 $104,880,000 $157,477

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 125 $12,355,000 $98,840 $2,048 4.02%
    40-60% 80 $11,950,000 $149,375 $3,538 3.67%
    60-80% 173 $40,505,000 $234,133 $3,652 4.06%
    80-100% 194 $41,650,000 $214,691 $3,425 4.10%
    Under 20% 111 $4,065,000 $36,622 $278 4.08%

    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 $18,172
    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 $51,156
    Glens Falls National Bank and Trust Company 132 Main Street Greenwich, NY 12834 Full Service B&M $40,525
    Glens Falls National Bank and Trust Company 14 Durkee Street Plattsburgh, NY 12901 Full Service B&M $88,545
    Glens Falls National Bank and Trust Company 15 Main Street Lake Luzerne, NY 12846 Full Service B&M $49,415
    Glens Falls National Bank and Trust Company 159 Broadway Fort Edward, NY 12828 Full Service B&M $33,552
    Glens Falls National Bank and Trust Company 212 Main Street Salem, NY 12865 Full Service B&M $32,707
    Glens Falls National Bank and Trust Company 221 Corinth Rd Queensbury, NY 12804 Full Service B&M $14,690
    Glens Falls National Bank and Trust Company 2252 State Route 9 Lake George, NY 12845 Full Service B&M $65,771
    Glens Falls National Bank and Trust Company 25 West Main Street Cambridge, NY 12816 Full Service B&M $45,221
    Glens Falls National Bank and Trust Company 250 Glen Street Glens Falls, NY 12801 Full Service B&M $488,713
    Glens Falls National Bank and Trust Company 3019 State Route 4 Hudson Falls, NY 12839 Full Service B&M $88,858
    Glens Falls National Bank and Trust Company 308 Cornelia Street Plattsburgh, NY 12901 Full Service B&M $92,548
    Glens Falls National Bank and Trust Company 339 Aviation Road Queensbury, NY 12804 Full Service B&M $38,907
    Glens Falls National Bank and Trust Company 343 Broadway Fort Edward, NY 12828 Full Service B&M $25,051
    Glens Falls National Bank and Trust Company 3853 Main Street Warrensburg, NY 12885 Full Service B&M $67,662
    Glens Falls National Bank and Trust Company 4 Broad Street Plaza Glens Falls, NY 12801 Full Service B&M $66,022
    Glens Falls National Bank and Trust Company 402 Bay Road Queensbury, NY 12804 Full Service B&M $51,727
    Glens Falls National Bank and Trust Company 4307 Main Street Port Henry, NY 12974 Full Service B&M $30,325
    Glens Falls National Bank and Trust Company 5023 Us Avenue Plattsburgh, NY 12903 Full Service B&M $30,316
    Glens Falls National Bank and Trust Company 6353 State Route 9 Chestertown, NY 12817 Full Service B&M $65,979
    Glens Falls National Bank and Trust Company 696 Upper Glen Street Queensbury, NY 12804 Full Service B&M $199,026
    Glens Falls National Bank and Trust Company 73 Broad Street Schuylerville, NY 12871 Full Service B&M $62,664
    Glens Falls National Bank and Trust Company 8646 State Route 22 Granville, NY 12832 Full Service B&M $46,112
    Glens Falls National Bank and Trust Company 93 Main Street Argyle, NY 12809 Full Service B&M $55,231
    Glens Falls National Bank and Trust Company Route 9 Schroon Lake, NY 12870 Full Service B&M $64,944
    Glens Falls National Bank and Trust Company Route 9 South Glens Falls, NY 12803 Full Service B&M $101,821
    Glens Falls National Bank and Trust Company Wicker Street Ticonderoga, NY 12883 Full Service B&M $0

    For 2019, Glens Falls National Bank And Trust Company had 30 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $87,488
    Net interest income $70,999
    Total noninterest income $26,931
    Gross Fiduciary activities income $7,195
    Service charges on deposit accounts $2,747
    Trading account gains and fees $0
    Additional Noninterest Income $16,989
    Pre-tax net operating income $37,287
    Securities gains (or losses, -) $0
    Income before extraordinary items $29,646
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $29,646
    Minority interest net income $0
    Net income $29,646
    Sale, conversion, retirement of capital stock, net $366
    Net operating income $29,646

    Glens Falls National Bank And Trust Company's gross interest income from loans was $87,488,000.
    Glens Falls National Bank And Trust Company's net interest income from loans was $70,999,000.
    Glens Falls National Bank And Trust Company's fee based income from loans was $2,747,000.
    Glens Falls National Bank And Trust Company's net income from loans was $29,646,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $16,489
    Provision for credit losses $1,378
    Total noninterest expense $59,265
    Salaries and employee benefits $34,759
    Premises and equipment expense $9,479
    Additional noninterest expense $15,027
    Applicable income taxes $7,641
    Net charge-offs $880
    Cash dividends $14,100

    Glens Falls National Bank And Trust Company's interest expense for loans was $16,489,000.
    Glens Falls National Bank And Trust Company's payroll and benefits expense were $34,759,000.
    Glens Falls National Bank And Trust Company's property, plant and equipment expenses $9,479,000.

    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 $2,068,671
    Deposits held in domestic offices $2,068,671
    Deposits by Individuals, partnerships, and corporations $1,657,045
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $404,023
    Deposits by Commercial banks and other depository institutions in U.S. $7,603
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $469,169
    Demand deposits $444,722
    Nontransaction accounts $1,599,502
    Money market deposit accounts (MMDAs) $1,123,194
    Other savings deposits (excluding MMDAs) $188,449
    Total time deposits $287,859
    Total time and savings deposits $1,623,949
    Noninterest-bearing deposits $392,875
    Interest-bearing deposits $1,675,796
    Retail deposits $1,891,608
    IRAs and Keogh plan accounts $46,998
    Brokered deposits $125,628
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,564,325
    Cash & Balances due from depository institutions $53,633
    Interest-bearing balances $13,797
    Total securities $525,446
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,866,588
    Loan and leases loss allowance $16,892
    Trading account assets $0
    Bank premises and fixed assets $34,811
    Other real estate owned $1,122
    Goodwill and other intangibles $22,088
    All other assets $60,637

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,564,325
    Total Liabilities $2,314,794
    Total deposits $2,068,671
    Interest-bearing deposits $1,675,796
    Deposits held in domestic offices $2,068,671
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $79,848
    Trading liabilities $0
    Other borrowed funds $141,860
    Subordinated debt $0
    All other liabilities $24,415

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,866,588
    Loan and leases loss allowance $16,892
    Total loans and leases (domestic) $1,883,480
    All real estate loans $1,076,595
    Real estate loans in domestic offices $1,076,595
    Construction and development loans $37,996
    Residential 1-4 family construction $14,517
    Other construction, all land development and other land $23,479
    Loans secured by nonfarm nonresidential properties $285,014
    Nonfarm nonresidential secured by owner-occupied properties $120,077
    Commercial real estate & other non-farm, non-residential $164,937
    Multifamily residential real estate $58,224
    1-4 family residential loans $695,326
    Farmland loans $35
    Loans held in foreign offices $0
    Farm loans $7
    Commercial and industrial loans $69,241
    To non-U.S. addressees $0
    Loans to individuals $689,005
    Credit card loans $0
    Related Plans $624
    Consumer Auto Loans $684,174
    Other loans to individuals $4,207
    All other loans & leases $48,632
    Loans to foreign governments and official institutions $0
    Other loans $13,037
    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 $111
    Non 1-4 family restructured loans & leases $111
    Total loans and leases (foreign) $0

    Glens Falls National Bank and Trust Company had $1,866,588,000 of loans outstanding in 2019. $1,076,595,000 of loans were in real estate loans. $37,996,000 of loans were in development loans. $58,224,000 of loans were in multifamily mortgage loans. $695,326,000 of loans were in 1-4 family mortgage loans. $7,000 of loans were in farm loans. $0 of loans were in credit card loans. $684,174,000 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 369 $91,893 $249,033
    Nonfarm, nonresidential loans - <$100k 66 $2,998 $45,424
    Nonfarm, nonresidential loans - $100-250k 118 $14,064 $119,186
    Nonfarm, nonresidential loans - $250k-1MM 185 $74,831 $404,492
    Commercial & Industrial, US addressed loans - <$1MM 1,782 $61,311 $34,406
    Commercial & Industrial, US addressed loans - <$100k 1,660 $36,587 $22,040
    Commercial & Industrial, US addressed loans - $100-250k 79 $7,775 $98,418
    Commercial & Industrial, US addressed loans - $250k-1MM 43 $16,949 $394,163
    Farmland loans - <$1MM 1 $35 $35,000
    Farmland loans - <$100k 1 $35 $35,000
    Agriculture operations loans - <$1MM 2 $7 $3,500
    Agriculture operations loans - <$100k 2 $7 $3,500