Genesee Regional Bank Mortgage Rates, Fees & Info

Rochester, NY

LEI: 549300VUQ4KD10YTTM53

Tax ID: 36-3351119

4.9 stars - out of 5 stars, based on 48 reviews

Latest/2021 | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • SimulatedRates™
  • Bank Data

    Review & Overview

    Genesee Regional Bank is a smaller bank specializing in loans. Genesee Regional Bank has a high proportion of conventional loans. They have an average proportion of FHA loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Rochester, Syracuse, Auburn, Utica, and Naples among others. We have data for 35 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Genesee Regional Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Genesee Regional Bank is typically an average 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 6.77% 10/3/22
    30 Year Conventional Refi 6.70% 10/3/22
    30 Year Cash-out Refi 6.87% 10/3/22
    30 Year FHA Purchase 7.83% 10/3/22
    30 Year FHA Refi 7.60% 10/3/22
    30 Year VA Purchase 6.73% 10/3/22
    30 Year VA Refi 6.43% 10/3/22
    30 Year USDA Purchase 7.36% 10/3/22
    15 Year Conventional Purchase 6.44% 10/3/22
    15 Year Conventional Refi 6.50% 10/3/22
    15 Year Cash-out Refi 6.50% 10/3/22
    15 Year FHA Refi 7.53% 10/3/22
    15 Year VA Purchase 6.60% 10/3/22
    15 Year VA Refi 5.99% 10/3/22
    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.


    Originations

    2,259

    Origination Dollar Volume (All Markets)

    $457,405,000

    Employee count

    157

    Awards

    Genesee Regional Bank FHA Loans silver
    Show all (1) awards

    Relative Rate

    Genesee Regional Bank's average 30 year fixed mortgage rate was 3.32%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of 0.17%.

    Relative Fees (Closing Costs)

    Genesee Regional Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $4,312.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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
    ROCHESTER, NY (FHA|USDA|VA) 1,682 $340,720,000 $202,568 $4,028 3.24%
    SYRACUSE, NY (FHA|USDA|VA) 317 $57,665,000 $181,909 $4,542 3.26%
    Auburn, NY (FHA|USDA|VA) 39 $7,675,000 $196,795 $4,348 3.20%
    UTICA-ROME, NY (FHA|USDA|VA) 30 $7,030,000 $234,333 $5,544 3.43%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 13 $6,505,000 $500,385 $6,255 3.07%
    Ogdensburg-Massena, NY (FHA|USDA|VA) 34 $5,390,000 $158,529 $5,374 3.15%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 29 $5,005,000 $172,586 $5,890 3.38%
    BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 16 $3,890,000 $243,125 $5,296 3.22%
    Corning, NY (FHA|USDA|VA) 15 $3,695,000 $246,333 $3,857 3.06%
    Batavia, NY (FHA|USDA|VA) 27 $3,695,000 $136,852 $3,874 3.34%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $1,895,000 $631,667 $6,715 3.13%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 8 $1,760,000 $220,000 $4,662 3.33%
    Seneca Falls, NY (FHA|USDA|VA) 5 $1,665,000 $333,000 $6,216 3.25%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 2 $1,430,000 $715,000 $4,221 3.38%
    Outside of Metro Areas 10 $1,360,000 $136,000 $3,456 3.60%
    Olean, NY (FHA|USDA|VA) 3 $885,000 $295,000 $3,903 2.83%
    Oneonta, NY (FHA|USDA|VA) 1 $885,000 $885,000 $0 4.60%
    Key West, FL (FHA|USDA|VA) 1 $715,000 $715,000 $7,594 4.63%
    THE VILLAGES, FL (FHA|USDA|VA) 2 $630,000 $315,000 $5,355 3.00%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 2 $610,000 $305,000 $5,772 3.31%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 2 $600,000 $300,000 $5,676 3.00%
    PANAMA CITY, FL (FHA|USDA|VA) 2 $570,000 $285,000 $8,460 3.19%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 1 $425,000 $425,000 $4,835 3.63%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $420,000 $210,000 $4,271 2.56%
    BINGHAMTON, NY (FHA|USDA|VA) 2 $380,000 $190,000 $3,554 3.31%
    ITHACA, NY (FHA|USDA|VA) 1 $365,000 $365,000 $4,100 2.50%
    DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $285,000 $285,000 $4,643 3.63%
    Cortland, NY (FHA|USDA|VA) 2 $230,000 $115,000 $5,424 3.50%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $195,000 $195,000 $4,540 3.38%
    PUNTA GORDA, FL (FHA|USDA|VA) 1 $185,000 $185,000 $4,421 4.88%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,788 3.63%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $165,000 $165,000 $3,853 3.63%
    Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $145,000 $145,000 $4,712 3.63%
    ELMIRA, NY (FHA|USDA|VA) 1 $85,000 $85,000 $3,107 3.63%
    Plattsburgh, NY (FHA|USDA|VA) 1 $85,000 $85,000 $3,453 3.88%

    Genesee Regional Bank's top markets include Rochester, Syracuse, Auburn, Utica, and Naples among others.

    Similar Lenders

    We use machine learning to identify the top lenders compared against Genesee Regional Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Watertown Savings Bank
    Similarity Rank: 8
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    Similarity Rank: 52
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    COUNTRYSIDE Federal Credit Union
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    ONTARIO SHORES
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 1,865 $392,865,000 $210,651 $3,788 3.23%
    FHA 306 $46,320,000 $151,373 $6,076 3.38%
    VA 73 $16,165,000 $221,438 $6,930 3.12%
    USDA 15 $2,055,000 $137,000 $4,973 3.35%

    For 2021, Genesee Regional Bank's most frequently originated type of loan was Conventional, with 1,865 originations. Their 2nd most popular type was FHA, with 306 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 1,849 $374,185,000 $202,372 $4,356 3.27%
    Refi 241 $46,965,000 $194,876 $3,297 3.00%
    Cash Out Refi 169 $36,255,000 $214,527 $3,888 3.44%

    For 2021, Genesee Regional Bank's most frequently cited loan purpose was Home Purchase, with 1,849 originations. The 2nd most popular reason was Refi, with 241 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 1,929 $385,475,000 $199,832 $4,312 3.32%
    15 Year 294 $65,070,000 $221,327 $3,620 2.83%
    20 Year 23 $4,085,000 $177,609 $3,456 3.16%
    10 Year 11 $2,245,000 $204,091 $3,279 2.76%
    Other 2 $530,000 $265,000 $4,045 3.19%

    For 2021, Genesee Regional Bank's most frequently cited loan duration was 30 Year, with 1,929 originations. The 2nd most popular length was 15 Year, with 294 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $1k-2k 2,026 $405,050,000 $199,926
    $2k-3k 150 $32,420,000 $216,133
    $3k-4k 47 $11,215,000 $238,617
    $4k-5k 14 $3,470,000 $247,857
    $5k+ 13 $3,235,000 $248,846
    $<1k 8 $1,130,000 $141,250

    Genesee Regional Bank's average total fees were $4,312, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,026 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 1,535 $300,515,000 $195,775
    2.5-3% 537 $119,195,000 $221,965
    4-5% 96 $14,700,000 $153,125
    <2.5% 91 $22,995,000 $252,692

    During 2021, Genesee Regional Bank's average interest rate for loans was 3.32%, while their most frequently originated rate bucket for loans was 3-4%, with 1,535 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 1,197 $177,755,000 $148,500 $4,048 3.28%
    $200k-400k 677 $181,635,000 $268,294 $4,542 3.18%
    $100,000 or less 237 $18,565,000 $78,333 $3,536 3.41%
    $400k-600k 121 $56,565,000 $467,479 $4,836 3.10%
    $600k-1MM 22 $16,610,000 $755,000 $5,880 3.14%
    $1MM+ 5 $6,275,000 $1,255,000 $6,867 2.98%

    2021 saw Genesee Regional Bank place emphasis on $100k-200k loans with 1,197 originations, totaling $177,755,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 609 $99,085,000 $162,701 $4,179 3.28%
    $50k or less 432 $54,450,000 $126,042 $4,230 3.28%
    $100k-150k 405 $91,635,000 $226,259 $4,109 3.24%
    $75k-100k 392 $75,380,000 $192,296 $4,157 3.24%
    $150k-250k 282 $78,520,000 $278,440 $4,252 3.22%
    $250k+ 138 $57,450,000 $416,304 $4,618 3.16%

    Genesee Regional Bank lent most frequently to those with incomes in the $50k-75k range, with 609 originations. The second most popular income band? $50k or less, with 432 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 478 $101,110,000 $211,527 $3,926 3.19%
    30-36% 404 $84,180,000 $208,366 $4,058 3.26%
    <20% 125 $28,215,000 $225,720 $3,949 3.12%
    50-60% 117 $21,195,000 $181,154 $6,328 3.34%
    44% 104 $18,160,000 $174,615 $4,221 3.34%
    41% 103 $20,275,000 $196,845 $4,112 3.26%
    40% 98 $17,580,000 $179,388 $4,105 3.30%
    43% 95 $17,515,000 $184,368 $4,153 3.30%
    36% 84 $15,750,000 $187,500 $3,864 3.18%
    42% 83 $14,925,000 $179,819 $3,938 3.25%
    39% 75 $14,475,000 $193,000 $4,354 3.36%
    45% 74 $14,770,000 $199,595 $4,320 3.32%
    37% 74 $15,070,000 $203,649 $4,263 3.28%
    49% 72 $14,140,000 $196,389 $4,172 3.22%
    38% 72 $16,410,000 $227,917 $3,962 3.23%
    48% 72 $15,230,000 $211,528 $4,368 3.28%
    47% 66 $14,180,000 $214,848 $4,793 3.25%
    46% 59 $12,725,000 $215,678 $4,188 3.28%
    >60% 3 $615,000 $205,000 $5,279 3.33%

    Genesee Regional Bank lent most frequently to those with DTI ratios of 20-30%, with 478 originations. The next most common DTI ratio? 30-36%, with 404 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,759 $362,205,000 $205,915 $4,160 3.24%
    Not provided 306 $61,250,000 $200,163 $4,281 3.25%
    Black 122 $18,470,000 $151,393 $4,710 3.44%
    Asian 65 $13,685,000 $210,538 $4,175 3.18%
    American Indian 6 $910,000 $151,667 $4,601 3.38%
    Not applicable 1 $885,000 $885,000 $0 4.60%

    Approval Rates

    Total approvals of all applications
    97.53%

    Genesee Regional Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    88.62%

    Genesee Regional Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 2,259 $457,405,000 $202,481

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    2,259 $457,405,000 $202,481

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 34 $5,670,000 $166,765 $3,572 2.94%
    40-60% 122 $21,180,000 $173,607 $3,393 3.11%
    60-80% 651 $138,775,000 $213,172 $3,813 3.28%
    80-100% 1,430 $286,370,000 $200,259 $4,364 3.26%
    Over 100% 22 $5,410,000 $245,909 $11,194 3.15%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Genesee Regional Bank 1850 South Winton Rd Rochester, NY 14618 Full Service B&M $637,949
    Genesee Regional Bank 3380 Monroe Ave Rochester, NY 14618 Full Service B&M $58,350
    Genesee Regional Bank 4180 West Ridge Rd Rochester, NY 14626 Full Service B&M $32,666

    For 2021, Genesee Regional Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $31,412
    Net interest income $30,429
    Total noninterest income $16,859
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $748
    Trading account gains and fees $0
    Additional Noninterest Income $16,111
    Pre-tax net operating income $25,037
    Securities gains (or losses, -) $22
    Income before extraordinary items $19,274
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $19,274
    Minority interest net income $0
    Net income $19,274
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $19,256

    Genesee Regional Bank's gross interest income from loans was $31,412,000.
    Genesee Regional Bank's net interest income from loans was $30,429,000.
    Genesee Regional Bank's fee based income from loans was $748,000.
    Genesee Regional Bank's net income from loans was $19,274,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $983
    Provision for credit losses $-981
    Total noninterest expense $23,232
    Salaries and employee benefits $14,894
    Premises and equipment expense $1,512
    Additional noninterest expense $6,826
    Applicable income taxes $5,785
    Net charge-offs $36
    Cash dividends $6,484

    Genesee Regional Bank's interest expense for loans was $983,000.
    Genesee Regional Bank's payroll and benefits expense were $14,894,000.
    Genesee Regional Bank's property, plant and equipment expenses $1,512,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    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 $827,830
    Deposits held in domestic offices $827,830
    Deposits by Individuals, partnerships, and corporations $743,282
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $73,616
    Deposits by Commercial banks and other depository institutions in U.S. $10,932
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $365,819
    Demand deposits $249,130
    Nontransaction accounts $462,011
    Money market deposit accounts (MMDAs) $322,228
    Other savings deposits (excluding MMDAs) $9,031
    Total time deposits $130,752
    Total time and savings deposits $578,700
    Noninterest-bearing deposits $249,130
    Interest-bearing deposits $578,700
    Retail deposits $766,470
    IRAs and Keogh plan accounts $929
    Brokered deposits $38,885
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $979,606
    Cash & Balances due from depository institutions $40,256
    Interest-bearing balances $36,911
    Total securities $289,809
    Federal funds sold & reverse repurchase $0
    Net loans and leases $610,461
    Loan and leases loss allowance $7,761
    Trading account assets $0
    Bank premises and fixed assets $1,202
    Other real estate owned $600
    Goodwill and other intangibles $3,046
    All other assets $34,232

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $979,606
    Total Liabilities $883,696
    Total deposits $827,830
    Interest-bearing deposits $578,700
    Deposits held in domestic offices $827,830
    % insured (estimated) $54
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $50,000
    Subordinated debt $0
    All other liabilities $5,866

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $610,461
    Loan and leases loss allowance $7,761
    Total loans and leases (domestic) $618,222
    All real estate loans $410,692
    Real estate loans in domestic offices $410,692
    Construction and development loans $50,559
    Residential 1-4 family construction $14,701
    Other construction, all land development and other land $35,858
    Loans secured by nonfarm nonresidential properties $192,836
    Nonfarm nonresidential secured by owner-occupied properties $71,462
    Commercial real estate & other non-farm, non-residential $121,374
    Multifamily residential real estate $14,505
    1-4 family residential loans $152,267
    Farmland loans $525
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $176,561
    To non-U.S. addressees $0
    Loans to individuals $2,195
    Credit card loans $0
    Related Plans $72
    Consumer Auto Loans $29
    Other loans to individuals $2,094
    All other loans & leases $28,774
    Loans to foreign governments and official institutions $0
    Other loans $28,774
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $3,498
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $236
    Non 1-4 family restructured loans & leases $236
    Total loans and leases (foreign) $0

    Genesee Regional Bank had $610,461,000 of loans outstanding in 2021. $410,692,000 of loans were in real estate loans. $50,559,000 of loans were in development loans. $14,505,000 of loans were in multifamily mortgage loans. $152,267,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $29,000 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 110 $37,973 $345,209
    Nonfarm, nonresidential loans - <$100k 2 $60 $30,000
    Nonfarm, nonresidential loans - $100-250k 27 $3,813 $141,222
    Nonfarm, nonresidential loans - $250k-1MM 81 $34,100 $420,988
    Commercial & Industrial, US addressed loans - <$1MM 416 $58,958 $141,726
    Commercial & Industrial, US addressed loans - <$100k 140 $2,465 $17,607
    Commercial & Industrial, US addressed loans - $100-250k 104 $9,087 $87,375
    Commercial & Industrial, US addressed loans - $250k-1MM 172 $47,406 $275,616
    Farmland loans - <$1MM 3 $525 $175,000
    Farmland loans - $250k-1MM 3 $525 $175,000