Adirondack Bank Mortgage Rates, Fees & Info

Utica, NY

LEI: 549300EZG6KIP4HOUR65

Tax ID: 15-0438700

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

Jump to:

Mortgage Data

Bank Data

Review & Overview

Adirondack Bank is a smaller bank specializing in Home Purchase and Refi loans. Adirondack Bank has a high proportion of conventional loans. Their top markets by origination volume include: Utica, Plattsburgh, Syracuse, Malone, and Albany among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

Adirondack 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. Adirondack Bank 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
30 Year Conventional Purchase 6.44% 5/4/24
30 Year Conventional Refi 6.34% 5/4/24
30 Year Cash-out Refi 6.39% 5/4/24
15 Year Conventional Purchase 5.70% 5/4/24
15 Year Conventional Refi 5.08% 5/4/24
15 Year Cash-out Refi 5.08% 5/4/24
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.

Adirondack Bank Mortgage Calculator






Your Estimates

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

This is not an official calculator from Adirondack Bank. 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

472

Origination Dollar Volume (All Markets)

$63,310,000

Employee count

189

Awards

Adirondack Bank 30 Year Conventional Loans silver
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
UTICA-ROME, NY (FHA|USDA|VA) 415 $52,185,000 $125,747 $2,131 4.57%
Outside of Metro Areas 24 $4,390,000 $182,917 $2,151 4.47%
Plattsburgh, NY (FHA|USDA|VA) 6 $2,900,000 $483,333 $1,987 5.00%
SYRACUSE, NY (FHA|USDA|VA) 9 $2,045,000 $227,222 $3,990 4.85%
Malone, NY (FHA|USDA|VA) 10 $950,000 $95,000 $1,414 4.55%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $430,000 $215,000 $1,632 5.56%
Amsterdam, NY (FHA|USDA|VA) 3 $195,000 $65,000 $2,249 4.58%
Gloversville, NY (FHA|USDA|VA) 2 $120,000 $60,000 $1,376 4.50%
Oneonta, NY (FHA|USDA|VA) 1 $95,000 $95,000 $639 4.63%
Adirondack Bank's top markets include Utica, Plattsburgh, Syracuse, Malone, and Albany among others.

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

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

    Adirondack Bank
    Similarity Rank: 126
    SEFCU SERVICES, LLC
    Similarity Rank: 192
    COMMONFUND MORTGAGE CORP.
    Similarity Rank: 210
    CCFCU FUNDING, LLC
    Similarity Rank: 260
    1ST PRIORITY MORTGAGE, INC.
    Similarity Rank: 400
    AMERICU Credit Union
    Similarity Rank: 672
    NBT Bank
    Similarity Rank: 756
    Community Bank
    Similarity Rank: 874
    Premium Mortgage Corporation
    Similarity Rank: 975
    PARAGON HOME LOANS INC.
    Similarity Rank: 1000

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 472 $63,310,000 $134,131 $2,145 4.58%

    For 2018, Adirondack Bank's most frequently originated type of loan was Conventional, with 472 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 237 $37,495,000 $158,207 $3,361 4.85%
    Refi 122 $13,470,000 $110,410 $837 4.25%
    Home Improvement 66 $5,990,000 $90,758 $645 4.29%
    Other 25 $1,685,000 $67,400 $581 4.47%
    Cash Out Refi 22 $4,670,000 $212,273 $3,677 4.43%

    For 2018, Adirondack Bank's most frequently cited loan purpose was Home Purchase, with 237 originations. The 2nd most popular reason was Refi, with 122 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 159 $28,055,000 $176,447 $3,317 4.54%
    15 Year 124 $10,440,000 $84,194 $997 4.36%
    20 Year 70 $8,200,000 $117,143 $1,160 4.59%
    10 Year 51 $4,865,000 $95,392 $938 4.52%
    Other 25 $4,895,000 $195,800 $1,938 4.43%
    30+ year 24 $5,900,000 $245,833 $6,412 6.98%
    5 Year 19 $955,000 $50,263 $571 3.61%

    For 2018, Adirondack Bank's most frequently cited loan duration was 30 Year, with 159 originations. The 2nd most popular length was 15 Year, with 124 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 226 $18,620,000 $82,389
    $1k-2k 151 $24,685,000 $163,477
    $2k-3k 30 $4,850,000 $161,667
    $3k-4k 27 $5,735,000 $212,407
    $4k-5k 9 $2,345,000 $260,556
    $5k+ 5 $2,425,000 $485,000

    Adirondack Bank's average total fees were $3,317, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 226 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 337 $43,315,000 $128,531
    3-4% 86 $8,460,000 $98,372
    6-7% 30 $6,300,000 $210,000
    5-6% 14 $3,960,000 $282,857
    7-8% 5 $1,275,000 $255,000

    During 2018, Adirondack Bank's average interest rate for loans was 4.54%, while their most frequently originated rate bucket for loans was 4-5%, with 337 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 237 $13,445,000 $56,730 $1,165 4.35%
    $100k-200k 147 $20,985,000 $142,755 $2,527 4.66%
    $200k-400k 75 $20,005,000 $266,733 $3,945 5.09%
    $400k-600k 8 $3,500,000 $437,500 $4,375 4.86%
    $600k-1MM 4 $3,120,000 $780,000 $6,407 4.69%
    $1MM+ 1 $2,255,000 $2,255,000 $0 5.25%

    2018 saw Adirondack Bank place emphasis on $100,000 or less loans with 237 originations, totaling $13,445,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 98 $14,110,000 $143,980 $2,301 4.62%
    $50k-75k 95 $8,985,000 $94,579 $1,862 4.47%
    $50k or less 95 $6,815,000 $71,737 $1,738 4.48%
    $75k-100k 84 $10,220,000 $121,667 $2,189 4.58%
    $150k-250k 59 $9,415,000 $159,576 $2,388 4.62%
    $250k+ 28 $9,980,000 $356,429 $3,356 4.63%

    Adirondack Bank lent most frequently to those with incomes in the $100k-150k range, with 98 originations. The second most popular income band? $50k-75k, with 95 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 135 $15,495,000 $114,778 $1,713 4.41%
    30-36% 80 $11,300,000 $141,250 $2,219 4.57%
    <20% 57 $5,915,000 $103,772 $1,797 4.34%
    41% 21 $4,045,000 $192,619 $3,592 4.88%
    37% 18 $3,020,000 $167,778 $2,246 4.63%
    40% 17 $3,075,000 $180,882 $3,450 5.26%
    36% 16 $2,010,000 $125,625 $3,053 4.93%
    43% 14 $1,920,000 $137,143 $3,515 5.03%
    47% 13 $1,645,000 $126,538 $2,180 4.41%
    45% 12 $1,300,000 $108,333 $2,158 4.70%
    38% 12 $1,620,000 $135,000 $1,778 4.16%
    44% 12 $1,950,000 $162,500 $2,853 4.46%
    50-60% 10 $960,000 $96,000 $1,227 4.24%
    39% 10 $1,050,000 $105,000 $1,933 4.74%
    42% 9 $1,385,000 $153,889 $2,992 4.71%
    46% 9 $1,085,000 $120,556 $2,020 4.65%
    49% 9 $1,085,000 $120,556 $1,458 4.40%
    48% 8 $900,000 $112,500 $929 4.55%
    >60% 4 $630,000 $157,500 $772 5.50%

    Adirondack Bank lent most frequently to those with DTI ratios of 20-30%, with 135 originations. The next most common DTI ratio? 30-36%, with 80 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 451 $58,225,000 $129,102 $2,159 4.56%
    Not applicable 6 $2,920,000 $486,667 $0 6.44%
    Not provided 2 $1,100,000 $550,000 $2,505 5.13%
    Black 3 $435,000 $145,000 $1,448 4.08%
    Asian 7 $385,000 $55,000 $2,048 4.16%
    Asian Indian 1 $155,000 $155,000 $1,224 4.13%
    Filipino 1 $65,000 $65,000 $666 4.13%
    American Indian 1 $25,000 $25,000 $639 4.00%

    Approval Rates

    Total approvals of all applications
    83.73%

    Adirondack Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    91.31%

    Adirondack Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    675.0 1 $65,000 $65,000
    713.0 1 $25,000 $25,000
    748.0 2 $330,000 $165,000
    756.0 1 $165,000 $165,000
    768.0 1 $115,000 $115,000
    806.0 1 $35,000 $35,000
    818.0 1 $105,000 $105,000
    893.0 1 $185,000 $185,000
    NA 463 $62,285,000 $134,525

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $3,135,000 $447,857
    Single Family (1-4 Units):Manufactured 16 $1,570,000 $98,125
    Single Family (1-4 Units):Site-Built 449 $58,605,000 $130,523

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 51 $5,745,000 $112,647 $809 4.33%
    40-60% 61 $6,775,000 $111,066 $1,198 4.35%
    60-80% 155 $23,195,000 $149,645 $2,546 4.63%
    80-100% 158 $25,430,000 $160,949 $3,066 4.78%
    Over 100% 1 $365,000 $365,000 $2,186 4.50%
    Under 20% 46 $1,800,000 $39,130 $528 4.32%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Adirondack Bank 108 Codling Street Old Forge, NY 13420 Full Service B&M $31,605
    Adirondack Bank 13150 State Route 12 Boonville, NY 13309 Full Service B&M $37,729
    Adirondack Bank 2817 Genesee Street Utica, NY 13501 Full Service B&M $64,318
    Adirondack Bank 136 Oriskany Boulevard Whitesboro, NY 13492 Full Service B&M $58,499
    Adirondack Bank 139 Church Street Saranac Lake, NY 12983 Full Service B&M $2,626
    Adirondack Bank 1709 Black River Boulevard Rome, NY 13440 Full Service B&M $19,199
    Adirondack Bank 185 Genesee Street Utica, NY 13501 Full Service B&M $108,404
    Adirondack Bank 214 North Washington Street Herkimer, NY 13350 Full Service B&M $92,556
    Adirondack Bank 29 West Main Street Mohawk, NY 13407 Full Service B&M $53,931
    Adirondack Bank 296 W. Main Street Ilion, NY 13357 Full Service B&M $34,518
    Adirondack Bank 38 Hadjis Way Lake Placid, NY 12946 Full Service B&M $28,476
    Adirondack Bank 448 Route 3 Plattsburgh, NY 12901 Full Service B&M $12,738
    Adirondack Bank 4697 Commercial Drive New Hartford, NY 13413 Full Service B&M $6,197
    Adirondack Bank 500 East Main Street Little Falls, NY 13365 Full Service B&M $39,517
    Adirondack Bank 67 Main Street Saranac Lake, NY 12983 Full Service B&M $33,948
    Adirondack Bank 804 Charlotte Street Utica, NY 13501 Limited, Drive-thru $0
    Adirondack Bank 808 Main Street, Po Box 700 Sylvan Beach, NY 13157 Full Service B&M $29,994
    Adirondack Bank 9576 Main Street Holland Patent, NY 13354 Full Service B&M $38,615

    For 2018, Adirondack Bank had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $29,229
    Net interest income $25,987
    Total noninterest income $4,996
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,444
    Trading account gains and fees $0
    Additional Noninterest Income $3,552
    Pre-tax net operating income $6,026
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,353
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,353
    Minority interest net income $0
    Net income $5,353
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,353

    Adirondack Bank's gross interest income from loans was $29,229,000.
    Adirondack Bank's net interest income from loans was $25,987,000.
    Adirondack Bank's fee based income from loans was $1,444,000.
    Adirondack Bank's net income from loans was $5,353,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,242
    Provision for credit losses $580
    Total noninterest expense $24,377
    Salaries and employee benefits $13,193
    Premises and equipment expense $3,848
    Additional noninterest expense $7,336
    Applicable income taxes $673
    Net charge-offs $215
    Cash dividends $2,100

    Adirondack Bank's interest expense for loans was $3,242,000.
    Adirondack Bank's payroll and benefits expense were $13,193,000.
    Adirondack Bank's property, plant and equipment expenses $3,848,000.

    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 0.0%
    Nonfarm, nonresidential loans 5.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 1.0%
    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 $683,191
    Deposits held in domestic offices $683,191
    Deposits by Individuals, partnerships, and corporations $442,378
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $240,813
    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 $63,774
    Demand deposits $52,933
    Nontransaction accounts $619,417
    Money market deposit accounts (MMDAs) $18,482
    Other savings deposits (excluding MMDAs) $459,352
    Total time deposits $141,582
    Total time and savings deposits $630,258
    Noninterest-bearing deposits $198,104
    Interest-bearing deposits $485,087
    Retail deposits $581,076
    IRAs and Keogh plan accounts $4,845
    Brokered deposits $22,669
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $821,445
    Cash & Balances due from depository institutions $17,396
    Interest-bearing balances $0
    Total securities $272,343
    Federal funds sold & reverse repurchase $1,200
    Net loans and leases $495,601
    Loan and leases loss allowance $3,428
    Trading account assets $0
    Bank premises and fixed assets $5,037
    Other real estate owned $1,041
    Goodwill and other intangibles $2,545
    All other assets $26,282

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $821,445
    Total Liabilities $759,636
    Total deposits $683,191
    Interest-bearing deposits $485,087
    Deposits held in domestic offices $683,191
    % insured (estimated) $65
    Federal funds purchased and repurchase agreements $30,873
    Trading liabilities $0
    Other borrowed funds $38,810
    Subordinated debt $0
    All other liabilities $6,762

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $495,601
    Loan and leases loss allowance $3,428
    Total loans and leases (domestic) $499,029
    All real estate loans $385,453
    Real estate loans in domestic offices $385,453
    Construction and development loans $5,170
    Residential 1-4 family construction $3,144
    Other construction, all land development and other land $2,026
    Loans secured by nonfarm nonresidential properties $117,101
    Nonfarm nonresidential secured by owner-occupied properties $69,744
    Commercial real estate & other non-farm, non-residential $47,357
    Multifamily residential real estate $10,889
    1-4 family residential loans $252,293
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $102,622
    To non-U.S. addressees $0
    Loans to individuals $11,809
    Credit card loans $0
    Related Plans $1,296
    Consumer Auto Loans $1,656
    Other loans to individuals $8,857
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $1,195
    Non 1-4 family restructured loans & leases $56
    Total loans and leases (foreign) $0

    Adirondack Bank had $495,601,000 of loans outstanding in 2018. $385,453,000 of loans were in real estate loans. $5,170,000 of loans were in development loans. $10,889,000 of loans were in multifamily mortgage loans. $252,293,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,656,000 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 249 $53,992 $216,835
    Nonfarm, nonresidential loans - <$100k 50 $2,165 $43,300
    Nonfarm, nonresidential loans - $100-250k 86 $9,861 $114,663
    Nonfarm, nonresidential loans - $250k-1MM 113 $41,966 $371,381
    Commercial & Industrial, US addressed loans - <$1MM 679 $74,889 $110,293
    Commercial & Industrial, US addressed loans - <$100k 360 $13,209 $36,692
    Commercial & Industrial, US addressed loans - $100-250k 196 $24,084 $122,878
    Commercial & Industrial, US addressed loans - $250k-1MM 123 $37,596 $305,659