Rhinebeck Bank Mortgage Rates, Fees & Info

Rhinebeck, NY

LEI: 549300G4F3X6FTMZP579

Tax ID: 14-1002430

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Mortgage Data

Bank Data

Review & Overview

Rhinebeck Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Rhinebeck Bank has a high proportion of conventional loans. Their top markets by origination volume include: Poughkeepsie, Kingston, New York, Hudson, and Albany among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

Rhinebeck Bank 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.

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.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.37% 4/21/24
30 Year Conventional Refi 6.50% 4/21/24
30 Year Cash-out Refi 6.56% 4/21/24
15 Year Conventional Purchase 5.56% 4/21/24
15 Year Conventional Refi 5.83% 4/21/24
15 Year Cash-out Refi 5.83% 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.

Rhinebeck Bank Mortgage Calculator






Your Estimates

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


Originations

375

Origination Dollar Volume (All Markets)

$112,595,000

Employee count

171

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
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 242 $78,710,000 $325,248 $0 0.00%
KINGSTON, NY (FHA|USDA|VA) 93 $21,285,000 $228,871 $0 0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 13 $5,085,000 $391,154 $0 0.00%
Hudson, NY (FHA|USDA|VA) 12 $3,480,000 $290,000 $0 0.00%
Outside of Metro Areas 13 $2,705,000 $208,077 $0 0.00%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $1,330,000 $665,000 $0 0.00%
Rhinebeck Bank's top markets include Poughkeepsie, Kingston, New York, Hudson, and Albany among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 375 $112,595,000 $300,253 $0 0.00%

    For 2020, Rhinebeck Bank's most frequently originated type of loan was Conventional, with 375 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 142 $43,040,000 $303,099 $0 0.00%
    Refi 139 $40,375,000 $290,468 $0 0.00%
    Cash Out Refi 89 $23,015,000 $258,596 $0 0.00%
    Other 4 $950,000 $237,500 $0 0.00%
    Home Improvement 1 $5,215,000 $5,215,000 $0 0.00%

    For 2020, Rhinebeck Bank's most frequently cited loan purpose was Home Purchase, with 142 originations. The 2nd most popular reason was Refi, with 139 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 375 $112,595,000 $300,253 $0 0.00%

    For 2020, Rhinebeck Bank's most frequently cited loan duration was Other, with 375 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 204 $56,160,000 $275,294 $0 0.00%
    $100k-200k 107 $17,085,000 $159,673 $0 0.00%
    $400k-600k 46 $20,730,000 $450,652 $0 0.00%
    $100,000 or less 7 $545,000 $77,857 $0 0.00%
    $600k-1MM 7 $5,055,000 $722,143 $0 0.00%
    $1MM+ 4 $13,020,000 $3,255,000 $0 0.00%

    2020 saw Rhinebeck Bank place emphasis on $200k-400k loans with 204 originations, totaling $56,160,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 83 $22,525,000 $271,386 $0 0.00%
    $150k-250k 79 $24,705,000 $312,722 $0 0.00%
    $75k-100k 78 $18,350,000 $235,256 $0 0.00%
    $50k-75k 62 $12,140,000 $195,806 $0 0.00%
    $250k+ 45 $17,095,000 $379,889 $0 0.00%
    $50k or less 13 $2,075,000 $159,615 $0 0.00%

    Rhinebeck Bank lent most frequently to those with incomes in the $100k-150k range, with 83 originations. The second most popular income band? $150k-250k, with 79 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 375 $112,595,000 $300,253 $0 0.00%

    Rhinebeck Bank lent most frequently to those with DTI ratios of Exempt%, with 375 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 260 $68,550,000 $263,654 $0 0.00%
    Not provided 90 $24,830,000 $275,889 $0 0.00%
    Not applicable 11 $14,945,000 $1,358,636 $0 0.00%
    Asian 9 $3,115,000 $346,111 $0 0.00%
    Black 4 $980,000 $245,000 $0 0.00%
    Asian Indian 1 $175,000 $175,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.84%

    Rhinebeck Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    82.93%

    Rhinebeck Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 375 $112,595,000 $300,253

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $14,125,000 $2,017,857
    Single Family (1-4 Units):Manufactured 3 $495,000 $165,000
    Single Family (1-4 Units):Site-Built 365 $97,975,000 $268,425

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Rhinebeck Bank 1022 Main Street Fishkill, NY 12524 Full Service B&M $43,597
    Rhinebeck Bank 1075 Violet Avenue, Route 9g Hyde Park, NY 12538 Full Service B&M $128,333
    Rhinebeck Bank 1476 Route 9d Wappingers Falls, NY 12590 Full Service B&M $27,257
    Rhinebeck Bank 1898 South Road Poughkeepsie, NY 12601 Full Service B&M $54,901
    Rhinebeck Bank 2 Jefferson Plaza Poughkeepsie, NY 12601 Limited, Administrative $0
    Rhinebeck Bank 200 Great Oaks, Suite 226 Albany, NY 12203 Limited, Administrative $0
    Rhinebeck Bank 2134 Route 208 Montgomery, NY 12549 Limited, Administrative $0
    Rhinebeck Bank 252 Main Street Goshen, NY 10924 Full Service B&M $25,396
    Rhinebeck Bank 2523 Route 52 Hopewell Junction, NY 12533 Full Service B&M $54,723
    Rhinebeck Bank 27 Main Street Kingston, NY 12401 Full Service B&M $60,756
    Rhinebeck Bank 3432 North Road Route 9 Poughkeepsie, NY 12601 Full Service B&M $103,196
    Rhinebeck Bank 6414 Montgomery St Rhinebeck, NY 12572 Full Service B&M $209,359
    Rhinebeck Bank 708 Dutchess Turnpike Poughkeepsie, NY 12603 Full Service B&M $91,153
    Rhinebeck Bank 7350 South Broadway Red Hook, NY 12571 Full Service B&M $130,544
    Rhinebeck Bank Jefferson Plaza, 2 Jefferson Street Poughkeepsie, NY 12601 Full Service Cyber Office $4,122

    For 2020, Rhinebeck Bank had 15 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $44,390
    Net interest income $36,325
    Total noninterest income $8,175
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $874
    Trading account gains and fees $0
    Additional Noninterest Income $7,301
    Pre-tax net operating income $8,374
    Securities gains (or losses, -) $-29
    Income before extraordinary items $6,786
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,786
    Minority interest net income $0
    Net income $6,786
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $6,809

    Rhinebeck Bank's gross interest income from loans was $44,390,000.
    Rhinebeck Bank's net interest income from loans was $36,325,000.
    Rhinebeck Bank's fee based income from loans was $874,000.
    Rhinebeck Bank's net income from loans was $6,786,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,065
    Provision for credit losses $7,138
    Total noninterest expense $28,988
    Salaries and employee benefits $16,444
    Premises and equipment expense $3,735
    Additional noninterest expense $8,809
    Applicable income taxes $1,559
    Net charge-offs $1,458
    Cash dividends $0

    Rhinebeck Bank's interest expense for loans was $8,065,000.
    Rhinebeck Bank's payroll and benefits expense were $16,444,000.
    Rhinebeck Bank's property, plant and equipment expenses $3,735,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 5.0%
    HELOC loans 0.0%
    All other family 6.0%
    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 $951,715
    Deposits held in domestic offices $951,715
    Deposits by Individuals, partnerships, and corporations $950,662
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $1,052
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $9,988
    Demand deposits $9,988
    Nontransaction accounts $941,727
    Money market deposit accounts (MMDAs) $198,007
    Other savings deposits (excluding MMDAs) $543,026
    Total time deposits $200,694
    Total time and savings deposits $941,727
    Noninterest-bearing deposits $245,630
    Interest-bearing deposits $706,085
    Retail deposits $917,400
    IRAs and Keogh plan accounts $20,138
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,128,660
    Cash & Balances due from depository institutions $93,484
    Interest-bearing balances $79,540
    Total securities $102,933
    Federal funds sold & reverse repurchase $0
    Net loans and leases $873,813
    Loan and leases loss allowance $11,633
    Trading account assets $0
    Bank premises and fixed assets $25,085
    Other real estate owned $139
    Goodwill and other intangibles $3,999
    All other assets $29,207

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,128,660
    Total Liabilities $1,020,125
    Total deposits $951,715
    Interest-bearing deposits $706,085
    Deposits held in domestic offices $951,715
    % insured (estimated) $72
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $50,674
    Subordinated debt $0
    All other liabilities $17,736

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $873,813
    Loan and leases loss allowance $11,633
    Total loans and leases (domestic) $885,446
    All real estate loans $342,093
    Real estate loans in domestic offices $342,093
    Construction and development loans $20,904
    Residential 1-4 family construction $11,143
    Other construction, all land development and other land $9,761
    Loans secured by nonfarm nonresidential properties $214,374
    Nonfarm nonresidential secured by owner-occupied properties $112,149
    Commercial real estate & other non-farm, non-residential $102,225
    Multifamily residential real estate $34,866
    1-4 family residential loans $69,964
    Farmland loans $1,985
    Loans held in foreign offices $0
    Farm loans $810
    Commercial and industrial loans $183,855
    To non-U.S. addressees $0
    Loans to individuals $358,688
    Credit card loans $0
    Related Plans $263
    Consumer Auto Loans $357,659
    Other loans to individuals $766
    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 $7,553
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Rhinebeck Bank had $873,813,000 of loans outstanding in 2020. $342,093,000 of loans were in real estate loans. $20,904,000 of loans were in development loans. $34,866,000 of loans were in multifamily mortgage loans. $69,964,000 of loans were in 1-4 family mortgage loans. $810,000 of loans were in farm loans. $0 of loans were in credit card loans. $357,659,000 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 209 $58,348 $279,177
    Nonfarm, nonresidential loans - <$100k 10 $531 $53,100
    Nonfarm, nonresidential loans - $100-250k 62 $8,381 $135,177
    Nonfarm, nonresidential loans - $250k-1MM 137 $49,436 $360,847
    Commercial & Industrial, US addressed loans - <$1MM 3,205 $142,036 $44,317
    Commercial & Industrial, US addressed loans - <$100k 2,809 $63,697 $22,676
    Commercial & Industrial, US addressed loans - $100-250k 240 $24,995 $104,146
    Commercial & Industrial, US addressed loans - $250k-1MM 156 $53,344 $341,949
    Farmland loans - <$1MM 1 $432 $432,000
    Farmland loans - $250k-1MM 1 $432 $432,000
    Agriculture operations loans - <$1MM 2 $8 $4,000
    Agriculture operations loans - <$100k 2 $8 $4,000