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

Jump to:

  • 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 Refi and Home Purchase loans. Bank Of Richmondville has a high proportion of conventional loans. Their top markets by origination volume include: Albany, Amsterdam, and Oneonta 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 above 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

    69

    Origination Dollar Volume (All Markets)

    $10,695,000

    Employee count

    33

    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) 56 $8,240,000 $147,143 $1,482 3.42%
    Amsterdam, NY (FHA|USDA|VA) 6 $1,450,000 $241,667 $1,301 3.48%
    Oneonta, NY (FHA|USDA|VA) 7 $1,005,000 $143,571 $1,232 3.21%
    Bank Of Richmondville's top markets include Albany, Amsterdam, 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 Bank of Richmondville based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    FIRST NEW YORK
    Similarity Rank: 63
    Bank of Richmondville
    Similarity Rank: 141
    HUDSON RIVER COMMUNITY
    Similarity Rank: 162
    Saratoga National Bank and Trust Company
    Similarity Rank: 414
    CCFCU FUNDING, LLC
    Similarity Rank: 462
    TrustCo Bank
    Similarity Rank: 504
    Glens Falls National Bank and Trust Company
    Similarity Rank: 720
    NBT Bank
    Similarity Rank: 784
    SEFCU SERVICES, LLC
    Similarity Rank: 1368
    SUNMARK FEDERAL CREDIT UNION
    Similarity Rank: 1377

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 69 $10,695,000 $155,000 $1,437 3.40%

    For 2021, Bank Of Richmondville's most frequently originated type of loan was Conventional, with 69 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 35 $6,145,000 $175,571 $1,455 3.22%
    Home Purchase 31 $4,425,000 $142,742 $1,426 3.54%
    Home Improvement 3 $125,000 $41,667 $1,106 4.19%

    For 2021, Bank Of Richmondville's most frequently cited loan purpose was Refi, with 35 originations. The 2nd most popular reason was Home Purchase, with 31 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 33 $5,875,000 $178,030 $1,309 3.42%
    20 Year 12 $1,480,000 $123,333 $1,415 3.35%
    15 Year 10 $1,080,000 $108,000 $1,315 3.38%
    10 Year 6 $470,000 $78,333 $1,267 3.54%
    Other 4 $550,000 $137,500 $1,274 3.00%
    30+ year 2 $1,160,000 $580,000 $4,978 3.69%
    3 Year 1 $15,000 $15,000 $0 4.43%
    5 Year 1 $65,000 $65,000 $1,104 2.88%

    For 2021, Bank Of Richmondville's most frequently cited loan duration was 30 Year, with 33 originations. The 2nd most popular length was 20 Year, with 12 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 59 $8,825,000 $149,576
    $1k-2k 3 $345,000 $115,000
    $3k-4k 1 $1,045,000 $1,045,000

    Bank Of Richmondville's average total fees were $1,309, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 59 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 39 $7,545,000 $193,462
    2.5-3% 24 $2,670,000 $111,250
    4-5% 5 $405,000 $81,000
    5-6% 1 $75,000 $75,000

    During 2021, Bank Of Richmondville's average interest rate for loans was 3.42%, while their most frequently originated rate bucket for loans was 3-4%, with 39 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 29 $1,965,000 $67,759 $1,287 3.47%
    $100k-200k 25 $3,495,000 $139,800 $1,431 3.32%
    $200k-400k 14 $4,190,000 $299,286 $1,342 3.41%
    $1MM+ 1 $1,045,000 $1,045,000 $6,484 3.50%

    2021 saw Bank Of Richmondville place emphasis on $100,000 or less loans with 29 originations, totaling $1,965,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 16 $2,470,000 $154,375 $1,478 3.33%
    $50k or less 15 $1,305,000 $87,000 $1,168 3.40%
    $150k-250k 11 $1,895,000 $172,273 $1,500 3.43%
    $50k-75k 11 $1,055,000 $95,909 $1,399 3.28%
    $75k-100k 10 $1,840,000 $184,000 $1,287 3.51%
    $250k+ 5 $1,945,000 $389,000 $2,284 3.48%

    Bank Of Richmondville lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $50k or less, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 26 $4,450,000 $171,154 $1,624 3.42%
    20-30% 17 $2,665,000 $156,765 $1,376 3.38%
    <20% 14 $1,560,000 $111,429 $1,236 3.30%
    38% 5 $685,000 $137,000 $1,408 3.38%
    36% 2 $370,000 $185,000 $1,187 3.50%
    37% 2 $590,000 $295,000 $1,376 3.25%
    39% 2 $190,000 $95,000 $1,289 3.88%

    Bank Of Richmondville lent most frequently to those with DTI ratios of 30-36%, with 26 originations. The next most common DTI ratio? 20-30%, with 17 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 67 $10,205,000 $152,313 $1,439 3.39%
    Black 1 $305,000 $305,000 $1,274 3.50%
    Not applicable 1 $185,000 $185,000 $0 4.25%

    Approval Rates

    Total approvals of all applications
    92.31%

    Bank Of Richmondville has an average approval rate.

    Pick Rate

    Approvals leading to origination
    95.65%

    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 69 $10,695,000 $155,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    69 $10,695,000 $155,000

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $790,000 $79,000 $1,178 3.68%
    40-60% 7 $625,000 $89,286 $1,298 3.34%
    60-80% 34 $4,840,000 $142,353 $1,429 3.33%
    80-100% 16 $4,350,000 $271,875 $1,622 3.38%
    Under 20% 2 $90,000 $45,000 $1,364 3.72%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 20.0%
    BANK OF THE WEST VA mortgage Trouble during payment process 1 3.3%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 2 6.7%
    BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 1 3.3%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 3.3%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 3 10.0%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 4 13.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 6.7%
    BANK OF THE WEST FHA mortgage Trouble during payment process 1 3.3%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 2 6.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 1 3.3%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 16.7%

    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 $29,484
    Bank of Richmondville East Main Street Cobleskill, NY 12043 Full Service B&M $96,506
    Bank of Richmondville North Main Street Schoharie, NY 12157 Full Service B&M $31,642

    For 2021, Bank Of Richmondville had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $4,724
    Net interest income $4,421
    Total noninterest income $527
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $168
    Trading account gains and fees $0
    Additional Noninterest Income $359
    Pre-tax net operating income $856
    Securities gains (or losses, -) $7
    Income before extraordinary items $759
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $759
    Minority interest net income $0
    Net income $759
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $752

    Bank Of Richmondville's gross interest income from loans was $4,724,000.
    Bank Of Richmondville's net interest income from loans was $4,421,000.
    Bank Of Richmondville's fee based income from loans was $168,000.
    Bank Of Richmondville's net income from loans was $759,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $303
    Provision for credit losses $80
    Total noninterest expense $4,012
    Salaries and employee benefits $2,400
    Premises and equipment expense $330
    Additional noninterest expense $1,282
    Applicable income taxes $104
    Net charge-offs $149
    Cash dividends $375

    Bank Of Richmondville's interest expense for loans was $303,000.
    Bank Of Richmondville's payroll and benefits expense were $2,400,000.
    Bank Of Richmondville's property, plant and equipment expenses $330,000.

    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 0.0%
    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 $160,685
    Deposits held in domestic offices $160,685
    Deposits by Individuals, partnerships, and corporations $141,145
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $19,540
    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 $72,993
    Demand deposits $29,500
    Nontransaction accounts $87,692
    Money market deposit accounts (MMDAs) $13,300
    Other savings deposits (excluding MMDAs) $49,958
    Total time deposits $24,434
    Total time and savings deposits $131,185
    Noninterest-bearing deposits $29,500
    Interest-bearing deposits $131,185
    Retail deposits $152,513
    IRAs and Keogh plan accounts $4,515
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $178,900
    Cash & Balances due from depository institutions $34,104
    Interest-bearing balances $32,775
    Total securities $55,595
    Federal funds sold & reverse repurchase $591
    Net loans and leases $82,060
    Loan and leases loss allowance $1,030
    Trading account assets $0
    Bank premises and fixed assets $812
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $5,738

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $178,900
    Total Liabilities $161,536
    Total deposits $160,685
    Interest-bearing deposits $131,185
    Deposits held in domestic offices $160,685
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $851

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $82,060
    Loan and leases loss allowance $1,030
    Total loans and leases (domestic) $83,090
    All real estate loans $68,270
    Real estate loans in domestic offices $68,270
    Construction and development loans $1,268
    Residential 1-4 family construction $0
    Other construction, all land development and other land $1,268
    Loans secured by nonfarm nonresidential properties $14,503
    Nonfarm nonresidential secured by owner-occupied properties $14,302
    Commercial real estate & other non-farm, non-residential $201
    Multifamily residential real estate $896
    1-4 family residential loans $51,004
    Farmland loans $599
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $3,766
    To non-U.S. addressees $0
    Loans to individuals $11,054
    Credit card loans $0
    Related Plans $30
    Consumer Auto Loans $1,317
    Other loans to individuals $9,707
    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 $82,060,000 of loans outstanding in 2021. $68,270,000 of loans were in real estate loans. $1,268,000 of loans were in development loans. $896,000 of loans were in multifamily mortgage loans. $51,004,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,317,000 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 70 $14,503 $207,186
    Nonfarm, nonresidential loans - <$100k 22 $1,084 $49,273
    Nonfarm, nonresidential loans - $100-250k 22 $2,434 $110,636
    Nonfarm, nonresidential loans - $250k-1MM 26 $10,985 $422,500
    Commercial & Industrial, US addressed loans - <$1MM 137 $3,760 $27,445
    Commercial & Industrial, US addressed loans - <$100k 118 $2,186 $18,525
    Commercial & Industrial, US addressed loans - $100-250k 16 $1,024 $64,000
    Commercial & Industrial, US addressed loans - $250k-1MM 3 $550 $183,333
    Farmland loans - <$1MM 3 $598 $199,333
    Farmland loans - <$100k 1 $34 $34,000
    Farmland loans - $100-250k 1 $192 $192,000
    Farmland loans - $250k-1MM 1 $372 $372,000