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

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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

    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, Syracuse, Malone, Plattsburgh, and Oneonta 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% 4/28/24
    30 Year Conventional Refi 6.34% 4/28/24
    30 Year Cash-out Refi 6.39% 4/28/24
    15 Year Conventional Purchase 5.70% 4/28/24
    15 Year Conventional Refi 5.08% 4/28/24
    15 Year Cash-out Refi 5.08% 4/28/24
    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

    390

    Origination Dollar Volume (All Markets)

    $57,310,000

    Employee count

    191

    Awards

    Adirondack Bank 30 Year Conventional Loans gold Adirondack Bank 30 Year Conventional Loans silver Adirondack Bank 30 Year Conventional Loans bronze
    Show all (3) 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) 327 $44,165,000 $135,061 $1,831 4.24%
    Outside of Metro Areas 32 $5,820,000 $181,875 $2,069 4.32%
    SYRACUSE, NY (FHA|USDA|VA) 9 $4,425,000 $491,667 $2,851 4.60%
    Malone, NY (FHA|USDA|VA) 12 $1,520,000 $126,667 $1,720 4.75%
    Plattsburgh, NY (FHA|USDA|VA) 4 $440,000 $110,000 $1,528 4.13%
    Oneonta, NY (FHA|USDA|VA) 2 $390,000 $195,000 $3,820 4.06%
    Amsterdam, NY (FHA|USDA|VA) 1 $205,000 $205,000 $2,481 3.63%
    Gloversville, NY (FHA|USDA|VA) 2 $200,000 $100,000 $324 4.44%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 1 $145,000 $145,000 $731 3.88%
    Adirondack Bank's top markets include Utica, Syracuse, Malone, Plattsburgh, and Oneonta 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: 63
    Premium Mortgage Corporation
    Similarity Rank: 344
    CCFCU FUNDING, LLC
    Similarity Rank: 378
    1ST PRIORITY MORTGAGE, INC.
    Similarity Rank: 432
    SEFCU SERVICES, LLC
    Similarity Rank: 468
    COMMONFUND MORTGAGE CORP.
    Similarity Rank: 468
    Empower Federal Credit Union
    Similarity Rank: 640
    AMERICU Credit Union
    Similarity Rank: 1008
    PARAGON HOME LOANS INC.
    Similarity Rank: 1058
    Community Bank
    Similarity Rank: 1175

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 390 $57,310,000 $146,949 $1,864 4.27%

    For 2019, Adirondack Bank's most frequently originated type of loan was Conventional, with 390 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 167 $30,465,000 $182,425 $3,467 4.20%
    Refi 113 $15,465,000 $136,858 $505 4.33%
    Home Improvement 56 $3,150,000 $56,250 $192 4.50%
    Cash Out Refi 32 $6,730,000 $210,313 $2,912 3.89%
    Other 22 $1,500,000 $68,182 $185 4.42%

    For 2019, Adirondack Bank's most frequently cited loan purpose was Home Purchase, with 167 originations. The 2nd most popular reason was Refi, with 113 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 138 $25,410,000 $184,130 $3,053 4.00%
    15 Year 84 $8,910,000 $106,071 $928 4.20%
    20 Year 68 $7,250,000 $106,618 $792 4.63%
    10 Year 50 $6,850,000 $137,000 $220 4.46%
    Other 19 $3,265,000 $171,842 $1,244 4.25%
    5 Year 17 $705,000 $41,471 $166 3.70%
    30+ year 14 $4,920,000 $351,429 $7,580 5.53%

    For 2019, Adirondack Bank's most frequently cited loan duration was 30 Year, with 138 originations. The 2nd most popular length was 15 Year, with 84 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 185 $14,745,000 $79,703
    $1k-2k 149 $27,825,000 $186,745
    $2k-3k 10 $1,930,000 $193,000
    $4k-5k 7 $1,625,000 $232,143
    $3k-4k 6 $1,460,000 $243,333
    $5k+ 5 $4,045,000 $809,000

    Adirondack Bank's average total fees were $3,053, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 185 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 207 $28,475,000 $137,560
    3-4% 157 $22,865,000 $145,637
    5-6% 16 $3,340,000 $208,750
    7-8% 7 $1,835,000 $262,143
    6-7% 3 $795,000 $265,000

    During 2019, Adirondack Bank's average interest rate for loans was 4.00%, while their most frequently originated rate bucket for loans was 4-5%, with 207 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 176 $10,160,000 $57,727 $634 4.28%
    $100k-200k 126 $17,840,000 $141,587 $2,191 4.27%
    $200k-400k 76 $20,770,000 $273,289 $3,403 4.18%
    $400k-600k 6 $2,720,000 $453,333 $6,486 4.52%
    $1MM+ 3 $3,785,000 $1,261,667 $12,881 4.75%
    $600k-1MM 3 $2,035,000 $678,333 $3,986 4.83%

    2019 saw Adirondack Bank place emphasis on $100,000 or less loans with 176 originations, totaling $10,160,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 79 $6,395,000 $80,949 $1,251 4.34%
    $50k-75k 78 $8,200,000 $105,128 $1,513 4.21%
    $100k-150k 72 $10,940,000 $151,944 $1,916 4.21%
    $75k-100k 61 $7,905,000 $129,590 $1,661 4.27%
    $150k-250k 60 $11,080,000 $184,667 $2,547 4.16%
    $250k+ 27 $8,515,000 $315,370 $3,520 4.12%

    Adirondack Bank lent most frequently to those with incomes in the $50k or less range, with 79 originations. The second most popular income band? $50k-75k, with 78 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 90 $11,540,000 $128,222 $1,750 4.10%
    30-36% 71 $10,495,000 $147,817 $1,861 4.30%
    <20% 48 $5,980,000 $124,583 $1,803 4.01%
    50-60% 23 $4,285,000 $186,304 $1,282 4.54%
    37% 20 $3,170,000 $158,500 $2,426 4.33%
    39% 17 $1,815,000 $106,765 $1,413 4.24%
    44% 12 $1,330,000 $110,833 $2,020 4.40%
    36% 12 $2,320,000 $193,333 $2,383 4.20%
    40% 12 $1,290,000 $107,500 $1,469 4.47%
    41% 12 $1,970,000 $164,167 $2,807 4.13%
    45% 11 $2,115,000 $192,273 $3,182 4.33%
    42% 9 $1,235,000 $137,222 $1,966 4.61%
    43% 8 $1,030,000 $128,750 $1,819 4.13%
    49% 8 $760,000 $95,000 $1,206 4.09%
    38% 8 $1,270,000 $158,750 $2,699 4.14%
    48% 6 $670,000 $111,667 $946 4.55%
    47% 6 $670,000 $111,667 $1,497 4.15%
    >60% 5 $1,065,000 $213,000 $3,096 5.12%
    46% 3 $475,000 $158,333 $1,833 3.75%

    Adirondack Bank lent most frequently to those with DTI ratios of 20-30%, with 90 originations. The next most common DTI ratio? 30-36%, with 71 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 369 $52,895,000 $143,347 $1,895 4.24%
    Not applicable 8 $3,720,000 $465,000 $0 5.65%
    Asian 8 $370,000 $46,250 $829 4.07%
    Black 4 $300,000 $75,000 $1,564 4.22%
    American Indian 1 $25,000 $25,000 $555 3.88%

    Approval Rates

    Total approvals of all applications
    83.08%

    Adirondack Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    90.77%

    Adirondack Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    749.1 1 $65,000 $65,000
    786.0 2 $120,000 $60,000
    826.0 1 $115,000 $115,000
    838.05 1 $45,000 $45,000
    846.0 1 $95,000 $95,000
    903.5 1 $125,000 $125,000
    911.0 1 $165,000 $165,000
    NA 382 $56,580,000 $148,115

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $4,360,000 $436,000
    Single Family (1-4 Units):Manufactured 15 $1,605,000 $107,000
    Single Family (1-4 Units):Site-Built 365 $51,345,000 $140,671

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 49 $2,845,000 $58,061 $197 4.31%
    40-60% 51 $7,135,000 $139,902 $1,083 4.30%
    60-80% 120 $19,830,000 $165,250 $2,326 4.23%
    80-100% 139 $23,955,000 $172,338 $2,642 4.19%
    Over 100% 1 $155,000 $155,000 $0 7.50%
    Under 20% 30 $3,390,000 $113,000 $404 4.56%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Adirondack Bank 29 West Main Street Mohawk, NY 13407 Limited, Drive-thru $45,688
    Adirondack Bank 296 W. Main Street Ilion, NY 13357 Full Service B&M $34,199
    Adirondack Bank 38 Hadjis Way Lake Placid, NY 12946 Full Service B&M $34,004
    Adirondack Bank 448 Route 3 Plattsburgh, NY 12901 Full Service B&M $12,062
    Adirondack Bank 4697 Commercial Drive New Hartford, NY 13413 Full Service B&M $6,698
    Adirondack Bank 500 East Main Street Little Falls, NY 13365 Full Service B&M $38,305
    Adirondack Bank 67 Main Street Saranac Lake, NY 12983 Full Service B&M $35,501
    Adirondack Bank 804 Charlotte Street Utica, NY 13501 Limited, Drive-thru $0
    Adirondack Bank 108 Codling Street Old Forge, NY 13420 Full Service B&M $30,726
    Adirondack Bank 13150 State Route 12 Boonville, NY 13309 Full Service B&M $33,162
    Adirondack Bank 136 Oriskany Boulevard Whitesboro, NY 13492 Full Service B&M $63,449
    Adirondack Bank 139 Church Street Saranac Lake, NY 12983 Full Service B&M $4,531
    Adirondack Bank 1709 Black River Boulevard Rome, NY 13440 Full Service B&M $18,721
    Adirondack Bank 185 Genesee Street Utica, NY 13501 Full Service B&M $99,062
    Adirondack Bank 214 North Washington Street Herkimer, NY 13350 Full Service B&M $118,063
    Adirondack Bank 2817 Genesee Street Utica, NY 13501 Full Service B&M $64,667
    Adirondack Bank 808 Main Street, Po Box 700 Sylvan Beach, NY 13157 Full Service B&M $35,651
    Adirondack Bank 9576 Main Street Holland Patent, NY 13354 Full Service B&M $49,624

    For 2019, Adirondack Bank had 18 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $32,404
    Net interest income $27,407
    Total noninterest income $4,923
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,453
    Trading account gains and fees $0
    Additional Noninterest Income $3,470
    Pre-tax net operating income $3,896
    Securities gains (or losses, -) $1,665
    Income before extraordinary items $4,696
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,696
    Minority interest net income $0
    Net income $4,696
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,297

    Adirondack Bank's gross interest income from loans was $32,404,000.
    Adirondack Bank's net interest income from loans was $27,407,000.
    Adirondack Bank's fee based income from loans was $1,453,000.
    Adirondack Bank's net income from loans was $4,696,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,997
    Provision for credit losses $0
    Total noninterest expense $28,434
    Salaries and employee benefits $16,450
    Premises and equipment expense $4,249
    Additional noninterest expense $7,735
    Applicable income taxes $865
    Net charge-offs $566
    Cash dividends $612

    Adirondack Bank's interest expense for loans was $4,997,000.
    Adirondack Bank's payroll and benefits expense were $16,450,000.
    Adirondack Bank's property, plant and equipment expenses $4,249,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    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 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 $672,695
    Deposits held in domestic offices $672,695
    Deposits by Individuals, partnerships, and corporations $455,719
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $216,975
    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 $71,331
    Demand deposits $58,482
    Nontransaction accounts $601,363
    Money market deposit accounts (MMDAs) $18,700
    Other savings deposits (excluding MMDAs) $443,454
    Total time deposits $139,209
    Total time and savings deposits $614,212
    Noninterest-bearing deposits $212,048
    Interest-bearing deposits $460,647
    Retail deposits $537,808
    IRAs and Keogh plan accounts $4,050
    Brokered deposits $30,156
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $815,388
    Cash & Balances due from depository institutions $20,423
    Interest-bearing balances $0
    Total securities $224,573
    Federal funds sold & reverse repurchase $11,689
    Net loans and leases $525,170
    Loan and leases loss allowance $2,862
    Trading account assets $0
    Bank premises and fixed assets $5,871
    Other real estate owned $396
    Goodwill and other intangibles $2,348
    All other assets $24,918

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $815,389
    Total Liabilities $746,852
    Total deposits $672,695
    Interest-bearing deposits $460,647
    Deposits held in domestic offices $672,695
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $36,263
    Trading liabilities $0
    Other borrowed funds $29,474
    Subordinated debt $0
    All other liabilities $8,420

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $525,170
    Loan and leases loss allowance $2,862
    Total loans and leases (domestic) $528,032
    All real estate loans $421,358
    Real estate loans in domestic offices $421,358
    Construction and development loans $13,729
    Residential 1-4 family construction $5,834
    Other construction, all land development and other land $7,895
    Loans secured by nonfarm nonresidential properties $122,457
    Nonfarm nonresidential secured by owner-occupied properties $71,572
    Commercial real estate & other non-farm, non-residential $50,885
    Multifamily residential real estate $14,258
    1-4 family residential loans $270,914
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $97,171
    To non-U.S. addressees $0
    Loans to individuals $10,410
    Credit card loans $0
    Related Plans $1,236
    Consumer Auto Loans $997
    Other loans to individuals $8,177
    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 $1,407
    Non 1-4 family restructured loans & leases $10
    Total loans and leases (foreign) $0

    Adirondack Bank had $525,170,000 of loans outstanding in 2019. $421,358,000 of loans were in real estate loans. $13,729,000 of loans were in development loans. $14,258,000 of loans were in multifamily mortgage loans. $270,914,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $997,000 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 233 $50,269 $215,747
    Nonfarm, nonresidential loans - <$100k 44 $1,926 $43,773
    Nonfarm, nonresidential loans - $100-250k 86 $10,163 $118,174
    Nonfarm, nonresidential loans - $250k-1MM 103 $38,180 $370,680
    Commercial & Industrial, US addressed loans - <$1MM 642 $67,769 $105,559
    Commercial & Industrial, US addressed loans - <$100k 336 $12,445 $37,039
    Commercial & Industrial, US addressed loans - $100-250k 194 $22,580 $116,392
    Commercial & Industrial, US addressed loans - $250k-1MM 112 $32,744 $292,357