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 Refi and Home Purchase loans. Adirondack Bank has a high proportion of conventional loans. Their top markets by origination volume include: Utica, Syracuse, Malone, Plattsburgh, and Amsterdam among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Adirondack Bank has an above average approval rate when compared to the average across all lenders. They have an above 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

    413

    Origination Dollar Volume (All Markets)

    $73,005,000

    Employee count

    180

    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) 351 $60,095,000 $171,211 $2,689 3.04%
    Outside of Metro Areas 37 $7,695,000 $207,973 $2,899 3.12%
    SYRACUSE, NY (FHA|USDA|VA) 10 $2,540,000 $254,000 $4,151 2.92%
    Malone, NY (FHA|USDA|VA) 6 $1,500,000 $250,000 $3,181 3.30%
    Plattsburgh, NY (FHA|USDA|VA) 6 $780,000 $130,000 $2,505 3.24%
    Amsterdam, NY (FHA|USDA|VA) 1 $145,000 $145,000 $0 3.45%
    Oneonta, NY (FHA|USDA|VA) 1 $135,000 $135,000 $4,324 2.38%
    ROCHESTER, NY (FHA|USDA|VA) 1 $115,000 $115,000 $2,521 2.50%
    Adirondack Bank's top markets include Utica, Syracuse, Malone, Plattsburgh, and Amsterdam 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: 224
    1ST PRIORITY MORTGAGE, INC.
    Similarity Rank: 300
    SEFCU SERVICES, LLC
    Similarity Rank: 312
    FIRST SOURCE
    Similarity Rank: 420
    COMMONFUND MORTGAGE CORP.
    Similarity Rank: 588
    CCFCU FUNDING, LLC
    Similarity Rank: 630
    AMERICU Credit Union
    Similarity Rank: 920
    PARAGON HOME LOANS INC.
    Similarity Rank: 961
    Community Bank
    Similarity Rank: 1100
    Berkshire Bank
    Similarity Rank: 1170

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 413 $73,005,000 $176,768 $2,744 3.05%

    For 2021, Adirondack Bank's most frequently originated type of loan was Conventional, with 413 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 166 $25,870,000 $155,843 $1,923 3.07%
    Home Purchase 137 $27,045,000 $197,409 $3,598 3.05%
    Cash Out Refi 66 $14,480,000 $219,394 $4,572 2.68%
    Home Improvement 24 $2,170,000 $90,417 $602 3.51%
    Other 20 $3,440,000 $172,000 $1,156 3.49%

    For 2021, Adirondack Bank's most frequently cited loan purpose was Refi, with 166 originations. The 2nd most popular reason was Home Purchase, with 137 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 140 $23,240,000 $166,000 $2,773 2.71%
    30 Year 124 $28,860,000 $232,742 $4,278 3.06%
    20 Year 89 $13,945,000 $156,685 $1,472 3.33%
    10 Year 44 $5,990,000 $136,136 $1,289 3.35%
    5 Year 9 $375,000 $41,667 $0 3.50%
    Other 7 $595,000 $85,000 $1,371 3.50%

    For 2021, Adirondack Bank's most frequently cited loan duration was 15 Year, with 140 originations. The 2nd most popular length was 30 Year, with 124 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 139 $26,115,000 $187,878
    $<1k 125 $13,265,000 $106,120
    $2k-3k 69 $15,145,000 $219,493
    $3k-4k 20 $4,960,000 $248,000
    $4k-5k 15 $4,635,000 $309,000
    $5k+ 7 $2,635,000 $376,429

    Adirondack Bank's average total fees were $4,278, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 139 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 177 $27,435,000 $155,000
    2.5-3% 131 $27,925,000 $213,168
    <2.5% 92 $16,820,000 $182,826
    4-5% 13 $825,000 $63,462

    During 2021, Adirondack Bank's average interest rate for loans was 3.06%, while their most frequently originated rate bucket for loans was 3-4%, with 177 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 178 $25,170,000 $141,404 $2,585 2.98%
    $100,000 or less 110 $6,960,000 $63,273 $887 3.33%
    $200k-400k 108 $29,810,000 $276,019 $4,347 2.89%
    $400k-600k 11 $5,195,000 $472,273 $6,206 2.93%
    $600k-1MM 4 $3,060,000 $765,000 $4,595 2.94%
    $1MM+ 2 $2,810,000 $1,405,000 $5,694 3.13%

    2021 saw Adirondack Bank place emphasis on $100k-200k loans with 178 originations, totaling $25,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 89 $10,375,000 $116,573 $2,067 3.12%
    $100k-150k 86 $15,050,000 $175,000 $2,845 2.99%
    $150k-250k 76 $16,180,000 $212,895 $3,405 2.89%
    $75k-100k 69 $9,895,000 $143,406 $2,611 3.04%
    $250k+ 39 $14,855,000 $380,897 $4,347 2.91%
    $50k or less 38 $3,810,000 $100,263 $1,784 3.24%

    Adirondack Bank lent most frequently to those with incomes in the $50k-75k range, with 89 originations. The second most popular income band? $100k-150k, with 86 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 125 $19,665,000 $157,320 $2,661 3.00%
    <20% 81 $17,215,000 $212,531 $2,981 2.93%
    30-36% 64 $9,680,000 $151,250 $2,618 3.06%
    36% 17 $3,215,000 $189,118 $3,489 2.97%
    41% 16 $3,230,000 $201,875 $3,403 3.01%
    43% 12 $1,800,000 $150,000 $1,842 3.11%
    39% 11 $1,875,000 $170,455 $3,086 3.02%
    37% 10 $1,860,000 $186,000 $3,301 2.88%
    45% 10 $3,090,000 $309,000 $2,215 3.21%
    50-60% 9 $1,225,000 $136,111 $967 3.50%
    38% 9 $1,045,000 $116,111 $1,935 3.11%
    40% 9 $1,375,000 $152,778 $3,072 3.01%
    42% 7 $845,000 $120,714 $1,789 3.29%
    44% 6 $1,160,000 $193,333 $2,956 3.00%
    46% 6 $1,200,000 $200,000 $2,127 3.53%
    49% 6 $1,370,000 $228,333 $4,109 2.79%
    48% 4 $830,000 $207,500 $3,523 3.03%
    47% 1 $185,000 $185,000 $3,786 3.00%

    Adirondack Bank lent most frequently to those with DTI ratios of 20-30%, with 125 originations. The next most common DTI ratio? <20%, with 81 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 384 $66,600,000 $173,438 $2,744 3.02%
    Asian 12 $3,360,000 $280,000 $4,085 2.94%
    Not applicable 9 $2,035,000 $226,111 $0 3.96%
    Black 5 $465,000 $93,000 $1,115 3.60%
    Not provided 1 $405,000 $405,000 $2,910 3.00%
    American Indian 2 $140,000 $70,000 $0 3.58%

    Approval Rates

    Total approvals of all applications
    90.67%

    Adirondack Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.77%

    Adirondack Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    606.7 1 $95,000 $95,000
    613.4 1 $125,000 $125,000
    621.7 1 $105,000 $105,000
    718.4 4 $360,000 $90,000
    726.7 3 $535,000 $178,333
    748.4 1 $125,000 $125,000
    951.7 1 $75,000 $75,000
    NA 401 $71,585,000 $178,516

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    413 $73,005,000 $176,768

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 47 $4,895,000 $104,149 $1,072 3.36%
    40-60% 85 $13,815,000 $162,529 $2,068 2.94%
    60-80% 183 $36,235,000 $198,005 $3,419 2.98%
    80-100% 80 $17,300,000 $216,250 $3,579 2.99%
    Under 20% 18 $760,000 $42,222 $160 3.62%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Adirondack Bank 185 Genesee Street Utica, NY 13501 Full Service B&M $141,983
    Adirondack Bank 108 Codling Street Old Forge, NY 13420 Full Service B&M $47,946
    Adirondack Bank 13150 State Route 12 Boonville, NY 13309 Full Service B&M $39,645
    Adirondack Bank 136 Oriskany Boulevard Whitesboro, NY 13492 Full Service B&M $89,086
    Adirondack Bank 139 Church Street Saranac Lake, NY 12983 Full Service B&M $5,656
    Adirondack Bank 1709 Black River Boulevard Rome, NY 13440 Full Service B&M $27,988
    Adirondack Bank 214 North Washington Street Herkimer, NY 13350 Full Service B&M $102,104
    Adirondack Bank 2426 Main Street Lake Placid, NY 12946 Full Service B&M $1,302
    Adirondack Bank 2817 Genesee Street Utica, NY 13501 Full Service B&M $113,717
    Adirondack Bank 29 West Main Street Mohawk, NY 13407 Limited, Drive-thru $37,993
    Adirondack Bank 296 W. Main Street Ilion, NY 13357 Full Service B&M $41,759
    Adirondack Bank 38 Hadjis Way Lake Placid, NY 12946 Full Service B&M $36,633
    Adirondack Bank 448 Route 3 Plattsburgh, NY 12901 Full Service B&M $13,221
    Adirondack Bank 4697 Commercial Drive New Hartford, NY 13413 Full Service B&M $11,217
    Adirondack Bank 500 East Main Street Little Falls, NY 13365 Full Service B&M $40,054
    Adirondack Bank 67 Main Street Saranac Lake, NY 12983 Full Service B&M $43,490
    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 $20,275
    Adirondack Bank 9576 Main Street Holland Patent, NY 13354 Full Service B&M $67,234

    For 2021, Adirondack Bank had 19 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,554
    Net interest income $24,747
    Total noninterest income $5,660
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,078
    Trading account gains and fees $0
    Additional Noninterest Income $4,582
    Pre-tax net operating income $4,039
    Securities gains (or losses, -) $0
    Income before extraordinary items $3,373
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,373
    Minority interest net income $0
    Net income $3,373
    Sale, conversion, retirement of capital stock, net $6
    Net operating income $3,373

    Adirondack Bank's gross interest income from loans was $26,554,000.
    Adirondack Bank's net interest income from loans was $24,747,000.
    Adirondack Bank's fee based income from loans was $1,078,000.
    Adirondack Bank's net income from loans was $3,373,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,807
    Provision for credit losses $-800
    Total noninterest expense $27,168
    Salaries and employee benefits $15,128
    Premises and equipment expense $4,221
    Additional noninterest expense $7,819
    Applicable income taxes $666
    Net charge-offs $1,002
    Cash dividends $286

    Adirondack Bank's interest expense for loans was $1,807,000.
    Adirondack Bank's payroll and benefits expense were $15,128,000.
    Adirondack Bank's property, plant and equipment expenses $4,221,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    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 $807,086
    Deposits held in domestic offices $807,086
    Deposits by Individuals, partnerships, and corporations $642,390
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $164,696
    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 $98,235
    Demand deposits $80,223
    Nontransaction accounts $708,851
    Money market deposit accounts (MMDAs) $32,502
    Other savings deposits (excluding MMDAs) $626,965
    Total time deposits $49,384
    Total time and savings deposits $726,863
    Noninterest-bearing deposits $335,479
    Interest-bearing deposits $471,607
    Retail deposits $775,353
    IRAs and Keogh plan accounts $4,271
    Brokered deposits $9,975
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $958,373
    Cash & Balances due from depository institutions $119,366
    Interest-bearing balances $108,093
    Total securities $274,398
    Federal funds sold & reverse repurchase $0
    Net loans and leases $526,000
    Loan and leases loss allowance $4,121
    Trading account assets $0
    Bank premises and fixed assets $7,130
    Other real estate owned $171
    Goodwill and other intangibles $2,514
    All other assets $28,794

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $958,373
    Total Liabilities $884,856
    Total deposits $807,086
    Interest-bearing deposits $471,607
    Deposits held in domestic offices $807,086
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $39,992
    Trading liabilities $0
    Other borrowed funds $30,958
    Subordinated debt $0
    All other liabilities $6,820

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $526,000
    Loan and leases loss allowance $4,121
    Total loans and leases (domestic) $530,121
    All real estate loans $396,675
    Real estate loans in domestic offices $396,675
    Construction and development loans $22,488
    Residential 1-4 family construction $2,990
    Other construction, all land development and other land $19,498
    Loans secured by nonfarm nonresidential properties $119,091
    Nonfarm nonresidential secured by owner-occupied properties $67,478
    Commercial real estate & other non-farm, non-residential $51,613
    Multifamily residential real estate $15,036
    1-4 family residential loans $240,060
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $126,476
    To non-U.S. addressees $0
    Loans to individuals $7,875
    Credit card loans $0
    Related Plans $963
    Consumer Auto Loans $619
    Other loans to individuals $6,293
    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 $1,632
    Non 1-4 family restructured loans & leases $311
    Total loans and leases (foreign) $0

    Adirondack Bank had $526,000,000 of loans outstanding in 2021. $396,675,000 of loans were in real estate loans. $22,488,000 of loans were in development loans. $15,036,000 of loans were in multifamily mortgage loans. $240,060,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $619,000 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 197 $45,134 $229,107
    Nonfarm, nonresidential loans - <$100k 36 $1,577 $43,806
    Nonfarm, nonresidential loans - $100-250k 64 $7,313 $114,266
    Nonfarm, nonresidential loans - $250k-1MM 97 $36,244 $373,649
    Commercial & Industrial, US addressed loans - <$1MM 794 $83,386 $105,020
    Commercial & Industrial, US addressed loans - <$100k 449 $14,279 $31,802
    Commercial & Industrial, US addressed loans - $100-250k 208 $24,916 $119,788
    Commercial & Industrial, US addressed loans - $250k-1MM 137 $44,191 $322,562