Bank Of Richmondville Mortgage Rates, Fees & Info

Cobleskill, NY

LEI: 549300SPVF3S3T0BYL87

Tax ID: 14-0486900

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
  • Complaints
  • 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

    Bank Of Richmondville is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Richmondville has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Oneonta, and Amsterdam among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Richmondville has an average approval rate when compared to the average across all lenders. Bank Of Richmondville 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
    30 Year Conventional Purchase 6.25% 12/16/24
    30 Year Conventional Refi 6.26% 12/16/24
    15 Year Conventional Purchase 5.70% 12/16/24
    15 Year Conventional Refi 5.95% 12/16/24
    15 Year Cash-out Refi 5.95% 12/16/24
    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.

    Bank Of Richmondville Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from Bank Of Richmondville. 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

    71

    Origination Dollar Volume (All Markets)

    $8,845,000

    Employee count

    36

    Awards

    Bank of Richmondville 30 Year Conventional Loans gold Bank of Richmondville 30 Year Conventional Loans gold
    Show all (2) 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
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 62 $7,690,000 $124,032 $1,774 4.50%
    Oneonta, NY (FHA|USDA|VA) 6 $710,000 $118,333 $1,281 4.22%
    Amsterdam, NY (FHA|USDA|VA) 3 $445,000 $148,333 $1,265 4.44%
    Bank Of Richmondville's top markets include Albany, Oneonta, 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 Bank of Richmondville 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
    HUDSON RIVER COMMUNITY
    Similarity Rank: 120
    Saratoga National Bank and Trust Company
    Similarity Rank: 140
    Glens Falls National Bank and Trust Company
    Similarity Rank: 248
    TrustCo Bank
    Similarity Rank: 260
    FIRST NEW YORK
    Similarity Rank: 282
    CCFCU FUNDING, LLC
    Similarity Rank: 378
    SUNMARK FEDERAL CREDIT UNION
    Similarity Rank: 583
    Chemung Canal Trust Company
    Similarity Rank: 782
    SEFCU SERVICES, LLC
    Similarity Rank: 936

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 71 $8,845,000 $124,577 $1,687 4.47%

    For 2019, Bank Of Richmondville's most frequently originated type of loan was Conventional, with 71 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 30 $5,000,000 $166,667 $2,188 4.12%
    Refi 28 $3,520,000 $125,714 $1,228 4.13%
    Home Improvement 9 $215,000 $23,889 $0 6.39%
    Other 4 $110,000 $27,500 $0 5.19%

    For 2019, Bank Of Richmondville's most frequently cited loan purpose was Home Purchase, with 30 originations. The 2nd most popular reason was Refi, with 28 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 20 $3,030,000 $151,500 $1,314 4.27%
    15 Year 15 $1,135,000 $75,667 $1,010 4.33%
    10 Year 9 $245,000 $27,222 $988 4.85%
    20 Year 9 $2,645,000 $293,889 $1,822 3.64%
    Other 8 $700,000 $87,500 $2,290 3.99%
    5 Year 5 $85,000 $17,000 $0 7.19%
    30+ year 4 $990,000 $247,500 $4,680 4.49%
    3 Year 1 $15,000 $15,000 $0 4.99%

    For 2019, Bank Of Richmondville's most frequently cited loan duration was 30 Year, with 20 originations. The 2nd most popular length was 15 Year, with 15 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 37 $4,405,000 $119,054
    $1k-2k 4 $520,000 $130,000
    $2k-3k 3 $705,000 $235,000
    $3k-4k 1 $335,000 $335,000

    Bank Of Richmondville's average total fees were $1,314, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 37 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 32 $3,830,000 $119,688
    3-4% 26 $4,490,000 $172,692
    5-6% 11 $495,000 $45,000
    Over 8% 2 $30,000 $15,000

    During 2019, Bank Of Richmondville's average interest rate for loans was 4.27%, while their most frequently originated rate bucket for loans was 4-5%, with 32 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 38 $1,700,000 $44,737 $1,066 4.81%
    $100k-200k 22 $3,050,000 $138,636 $1,812 4.01%
    $200k-400k 10 $2,620,000 $262,000 $2,654 4.26%
    $1MM+ 1 $1,475,000 $1,475,000 $0 3.75%

    2019 saw Bank Of Richmondville place emphasis on $100,000 or less loans with 38 originations, totaling $1,700,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 19 $1,785,000 $93,947 $1,597 4.14%
    $100k-150k 17 $2,155,000 $126,765 $2,061 4.42%
    $50k or less 13 $665,000 $51,154 $973 5.30%
    $75k-100k 9 $775,000 $86,111 $3,120 4.66%
    $150k-250k 6 $1,380,000 $230,000 $1,488 4.34%

    Bank Of Richmondville lent most frequently to those with incomes in the $50k-75k range, with 19 originations. The second most popular income band? $100k-150k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 19 $1,665,000 $87,632 $2,030 4.70%
    30-36% 19 $2,085,000 $109,737 $1,741 4.74%
    <20% 11 $1,175,000 $106,818 $1,207 4.05%
    38% 9 $955,000 $106,111 $1,247 4.39%
    36% 5 $855,000 $171,000 $2,582 4.99%
    37% 2 $110,000 $55,000 $1,088 3.69%
    42% 1 $55,000 $55,000 $1,099 3.63%

    Bank Of Richmondville lent most frequently to those with DTI ratios of 20-30%, with 19 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 65 $6,855,000 $105,462 $1,701 4.53%
    Not applicable 5 $1,945,000 $389,000 $0 3.63%
    Asian 1 $45,000 $45,000 $1,043 4.85%

    Approval Rates

    Total approvals of all applications
    73.20%

    Bank Of Richmondville has a below average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 71 $8,845,000 $124,577

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $1,975,000 $395,000
    Single Family (1-4 Units):Manufactured 10 $260,000 $26,000
    Single Family (1-4 Units):Site-Built 56 $6,610,000 $118,036

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 6 $270,000 $45,000 $1,142 4.79%
    40-60% 18 $1,230,000 $68,333 $1,358 4.01%
    60-80% 35 $6,605,000 $188,714 $1,850 4.43%
    80-100% 5 $605,000 $121,000 $1,928 5.18%
    Under 20% 7 $135,000 $19,286 $0 5.10%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 1 7.1%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 2 14.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 42.9%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 7.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Richmondville 857 East Main Street Cobleskill, NY 12043 Full Service B&M $24,613
    Bank of Richmondville East Main Street Cobleskill, NY 12043 Full Service B&M $80,976
    Bank of Richmondville North Main Street Schoharie, NY 12157 Full Service B&M $21,662

    For 2019, Bank Of Richmondville had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $5,084
    Net interest income $4,699
    Total noninterest income $661
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $210
    Trading account gains and fees $0
    Additional Noninterest Income $451
    Pre-tax net operating income $1,031
    Securities gains (or losses, -) $3
    Income before extraordinary items $912
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $912
    Minority interest net income $0
    Net income $912
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $909

    Bank Of Richmondville's gross interest income from loans was $5,084,000.
    Bank Of Richmondville's net interest income from loans was $4,699,000.
    Bank Of Richmondville's fee based income from loans was $210,000.
    Bank Of Richmondville's net income from loans was $912,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $385
    Provision for credit losses $180
    Total noninterest expense $4,149
    Salaries and employee benefits $2,550
    Premises and equipment expense $393
    Additional noninterest expense $1,206
    Applicable income taxes $122
    Net charge-offs $191
    Cash dividends $374

    Bank Of Richmondville's interest expense for loans was $385,000.
    Bank Of Richmondville's payroll and benefits expense were $2,550,000.
    Bank Of Richmondville's property, plant and equipment expenses $393,000.

    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 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 7.0%
    All other family 2.0%
    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 $121,791
    Deposits held in domestic offices $121,791
    Deposits by Individuals, partnerships, and corporations $105,029
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $16,762
    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 $51,330
    Demand deposits $20,179
    Nontransaction accounts $70,461
    Money market deposit accounts (MMDAs) $7,497
    Other savings deposits (excluding MMDAs) $38,005
    Total time deposits $24,958
    Total time and savings deposits $101,612
    Noninterest-bearing deposits $20,179
    Interest-bearing deposits $101,612
    Retail deposits $114,082
    IRAs and Keogh plan accounts $4,101
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $141,862
    Cash & Balances due from depository institutions $10,676
    Interest-bearing balances $9,310
    Total securities $38,378
    Federal funds sold & reverse repurchase $647
    Net loans and leases $86,372
    Loan and leases loss allowance $969
    Trading account assets $0
    Bank premises and fixed assets $938
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $4,851

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $141,862
    Total Liabilities $124,947
    Total deposits $121,791
    Interest-bearing deposits $101,612
    Deposits held in domestic offices $121,791
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $2,500
    Subordinated debt $0
    All other liabilities $656

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $86,372
    Loan and leases loss allowance $969
    Total loans and leases (domestic) $87,341
    All real estate loans $72,454
    Real estate loans in domestic offices $72,454
    Construction and development loans $4,300
    Residential 1-4 family construction $554
    Other construction, all land development and other land $3,746
    Loans secured by nonfarm nonresidential properties $12,912
    Nonfarm nonresidential secured by owner-occupied properties $12,701
    Commercial real estate & other non-farm, non-residential $211
    Multifamily residential real estate $1,919
    1-4 family residential loans $53,082
    Farmland loans $241
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $4,277
    To non-U.S. addressees $0
    Loans to individuals $10,610
    Credit card loans $0
    Related Plans $46
    Consumer Auto Loans $8,894
    Other loans to individuals $1,670
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Bank of Richmondville had $86,372,000 of loans outstanding in 2019. $72,454,000 of loans were in real estate loans. $4,300,000 of loans were in development loans. $1,919,000 of loans were in multifamily mortgage loans. $53,082,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $8,894,000 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 73 $12,911 $176,863
    Nonfarm, nonresidential loans - <$100k 27 $1,269 $47,000
    Nonfarm, nonresidential loans - $100-250k 26 $2,832 $108,923
    Nonfarm, nonresidential loans - $250k-1MM 20 $8,810 $440,500
    Commercial & Industrial, US addressed loans - <$1MM 147 $4,264 $29,007
    Commercial & Industrial, US addressed loans - <$100k 128 $2,475 $19,336
    Commercial & Industrial, US addressed loans - $100-250k 16 $1,243 $77,688
    Commercial & Industrial, US addressed loans - $250k-1MM 3 $546 $182,000
    Farmland loans - <$1MM 3 $241 $80,333
    Farmland loans - <$100k 2 $38 $19,000
    Farmland loans - $100-250k 1 $203 $203,000