Bank Of Richmondville Mortgage Rates, Fees & Info
Cobleskill, NYLEI: 549300SPVF3S3T0BYL87
Tax ID: 14-0486900
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Bank Data
Review & Overview
Bank Of Richmondville is a smaller bank specializing in Refi and Home Purchase loans. Bank Of Richmondville has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Oneonta, Amsterdam, and Gloversville among others. We have data for 4 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. They have an above average pick rate when compared to similar 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.
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 | 6.25% | 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
88Origination Dollar Volume (All Markets)
$10,510,000Employee count
35Awards
Bank of Richmondville - 2020
Bank of Richmondville is a 2020 , due to their low .
For 2020, less than of lenders were eligible for this award.
Work for Bank of Richmondville?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
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) | 72 | $7,920,000 | $110,000 | $1,284 | 3.81% |
| Oneonta, NY (FHA|USDA|VA) | 9 | $1,475,000 | $163,889 | $2,620 | 3.93% |
| Amsterdam, NY (FHA|USDA|VA) | 5 | $805,000 | $161,000 | $1,608 | 3.72% |
| Gloversville, NY (FHA|USDA|VA) | 2 | $310,000 | $155,000 | $1,252 | 3.87% |
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.
Similarity Rank: 56
Similarity Rank: 180
Similarity Rank: 192
Similarity Rank: 348
Similarity Rank: 522
Similarity Rank: 609
Similarity Rank: 728
Similarity Rank: 750
Similarity Rank: 1400
Similarity Rank: 1482
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 88 | $10,510,000 | $119,432 | $1,441 | 3.82% |
For 2020, Bank Of Richmondville's most frequently originated type of loan was Conventional, with 88 originations.
Loan Reason
For 2020, Bank Of Richmondville's most frequently cited loan purpose was Refi, with 42 originations. The 2nd most popular reason was Home Purchase, with 39 originations.
Loan Duration/Length
For 2020, Bank Of Richmondville's most frequently cited loan duration was 30 Year, with 28 originations. The 2nd most popular length was 15 Year, with 21 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 71 | $8,805,000 | $124,014 |
| $1k-2k | 4 | $480,000 | $120,000 |
| $2k-3k | 3 | $765,000 | $255,000 |
Bank Of Richmondville's average total fees were $1,280, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 71 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 63 | $8,325,000 | $132,143 |
| 4-5% | 15 | $1,305,000 | $87,000 |
| 2.5-3% | 6 | $680,000 | $113,333 |
| 5-6% | 4 | $200,000 | $50,000 |
During 2020, Bank Of Richmondville's average interest rate for loans was 3.83%, while their most frequently originated rate bucket for loans was 3-4%, with 63 originations.
Loan Sizing
2020 saw Bank Of Richmondville place emphasis on $100,000 or less loans with 41 originations, totaling $2,565,000 in origination value.
Applicant Income
Bank Of Richmondville lent most frequently to those with incomes in the $50k-75k range, with 29 originations. The second most popular income band? $100k-150k, with 16 originations.
Applicant Debt to Income Ratio
Bank Of Richmondville lent most frequently to those with DTI ratios of 20-30%, with 32 originations. The next most common DTI ratio? <20%, with 15 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 88 | $10,510,000 | $119,432 | $1,441 | 3.82% |
Approval Rates
Total approvals of all applications84.40%
Bank Of Richmondville has a below average approval rate.
Pick Rate
Approvals leading to origination95.45%
Bank Of Richmondville has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 88 | $10,510,000 | $119,432 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 8 | $520,000 | $65,000 |
| Single Family (1-4 Units):Site-Built | 80 | $9,990,000 | $124,875 |
LTV Distribution
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| BANK OF THE WEST | Conventional home mortgage | Incorrect information on your report | 1 | 3.8% |
| BANK OF THE WEST | Conventional home mortgage | Closing on a mortgage | 2 | 7.7% |
| BANK OF THE WEST | Other type of mortgage | Trouble during payment process | 4 | 15.4% |
| BANK OF THE WEST | Other type of mortgage | Struggling to pay mortgage | 2 | 7.7% |
| BANK OF THE WEST | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 3.8% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Trouble during payment process | 6 | 23.1% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 3.8% |
| BANK OF THE WEST | Home equity loan or line of credit (HELOC) | Closing on a mortgage | 2 | 7.7% |
| BANK OF THE WEST | Conventional home mortgage | Trouble during payment process | 4 | 15.4% |
| BANK OF THE WEST | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 7.7% |
| BANK OF THE WEST | Conventional home mortgage | Struggling to pay mortgage | 1 | 3.8% |
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 | $27,168 |
| Bank of Richmondville | East Main Street Cobleskill, NY 12043 | Full Service B&M | $84,509 |
| Bank of Richmondville | North Main Street Schoharie, NY 12157 | Full Service B&M | $25,283 |
For 2020, Bank Of Richmondville had 3 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $4,938 |
| Net interest income | $4,567 |
| Total noninterest income | $489 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $164 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $325 |
| Pre-tax net operating income | $979 |
| Securities gains (or losses, -) | $17 |
| Income before extraordinary items | $887 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $887 |
| Minority interest net income | $0 |
| Net income | $887 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $871 |
Bank Of Richmondville's gross interest income from loans was $4,938,000.
Bank Of Richmondville's net interest income from loans was $4,567,000.
Bank Of Richmondville's fee based income from loans was $164,000.
Bank Of Richmondville's net income from loans was $887,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $371 |
| Provision for credit losses | $132 |
| Total noninterest expense | $3,945 |
| Salaries and employee benefits | $2,392 |
| Premises and equipment expense | $394 |
| Additional noninterest expense | $1,159 |
| Applicable income taxes | $109 |
| Net charge-offs | $2 |
| Cash dividends | $374 |
Bank Of Richmondville's interest expense for loans was $371,000.
Bank Of Richmondville's payroll and benefits expense were $2,392,000.
Bank Of Richmondville's property, plant and equipment expenses $394,000.
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 | 5.0% |
| 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 | $146,111 |
| Deposits held in domestic offices | $146,111 |
| Deposits by Individuals, partnerships, and corporations | $126,428 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $19,683 |
| 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 | $66,056 |
| Demand deposits | $26,378 |
| Nontransaction accounts | $80,055 |
| Money market deposit accounts (MMDAs) | $11,236 |
| Other savings deposits (excluding MMDAs) | $45,057 |
| Total time deposits | $23,761 |
| Total time and savings deposits | $119,733 |
| Noninterest-bearing deposits | $26,378 |
| Interest-bearing deposits | $119,733 |
| Retail deposits | $138,289 |
| IRAs and Keogh plan accounts | $4,303 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $164,949 |
| Cash & Balances due from depository institutions | $27,757 |
| Interest-bearing balances | $26,277 |
| Total securities | $45,496 |
| Federal funds sold & reverse repurchase | $1,301 |
| Net loans and leases | $84,739 |
| Loan and leases loss allowance | $1,099 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $863 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $0 |
| All other assets | $4,793 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $164,949 |
| Total Liabilities | $147,476 |
| Total deposits | $146,111 |
| Interest-bearing deposits | $119,733 |
| Deposits held in domestic offices | $146,111 |
| % insured (estimated) | $82 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $1,365 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $84,739 |
| Loan and leases loss allowance | $1,099 |
| Total loans and leases (domestic) | $85,838 |
| All real estate loans | $73,408 |
| Real estate loans in domestic offices | $73,408 |
| Construction and development loans | $2,409 |
| Residential 1-4 family construction | $653 |
| Other construction, all land development and other land | $1,756 |
| Loans secured by nonfarm nonresidential properties | $16,427 |
| Nonfarm nonresidential secured by owner-occupied properties | $16,306 |
| Commercial real estate & other non-farm, non-residential | $121 |
| Multifamily residential real estate | $1,974 |
| 1-4 family residential loans | $52,365 |
| Farmland loans | $233 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $4,100 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $8,331 |
| Credit card loans | $0 |
| Related Plans | $31 |
| Consumer Auto Loans | $2,249 |
| Other loans to individuals | $6,051 |
| 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 $84,739,000 of loans outstanding in 2020. $73,408,000 of loans were in real estate loans. $2,409,000 of loans were in development loans. $1,974,000 of loans were in multifamily mortgage loans. $52,365,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,249,000 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 | 78 | $16,427 | $210,603 |
| Nonfarm, nonresidential loans - <$100k | 23 | $1,108 | $48,174 |
| Nonfarm, nonresidential loans - $100-250k | 26 | $3,030 | $116,538 |
| Nonfarm, nonresidential loans - $250k-1MM | 29 | $12,289 | $423,759 |
| Commercial & Industrial, US addressed loans - <$1MM | 154 | $4,094 | $26,584 |
| Commercial & Industrial, US addressed loans - <$100k | 134 | $2,465 | $18,396 |
| Commercial & Industrial, US addressed loans - $100-250k | 17 | $1,204 | $70,824 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 3 | $425 | $141,667 |
| Farmland loans - <$1MM | 2 | $233 | $116,500 |
| Farmland loans - <$100k | 1 | $35 | $35,000 |
| Farmland loans - $100-250k | 1 | $198 | $198,000 |