Genesee Regional Bank Mortgage Rates, Fees & Info

Rochester, NY

LEI: 549300VUQ4KD10YTTM53

Tax ID: 36-3351119

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Genesee Regional Bank is a smaller bank specializing in Home Purchase 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, Batavia, New York, and Utica among others. We have data for 26 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 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	6.78%	4/21/24
30 Year Conventional Refi	6.67%	4/21/24
30 Year Cash-out Refi	6.78%	4/21/24
30 Year FHA Purchase	7.74%	4/21/24
30 Year FHA Refi	7.73%	4/21/24
30 Year VA Purchase	6.94%	4/21/24
30 Year VA Refi	6.27%	4/21/24
30 Year USDA Purchase	7.11%	4/21/24
15 Year Conventional Purchase	6.36%	4/21/24
15 Year Conventional Refi	6.22%	4/21/24
15 Year Cash-out Refi	6.22%	4/21/24
15 Year FHA Purchase	6.97%	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.

Genesee Regional Bank Mortgage Calculator

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This is not an official calculator from Genesee Regional Bank. 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

1,414

Origination Dollar Volume (All Markets)

$239,130,000

Employee count

123

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)	1,191	$200,605,000	$168,434	$4,316	4.24%
SYRACUSE, NY (FHA\|USDA\|VA)	109	$17,475,000	$160,321	$4,886	4.18%
Batavia, NY (FHA\|USDA\|VA)	23	$2,965,000	$128,913	$4,059	4.11%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	4	$2,590,000	$647,500	$6,506	3.75%
UTICA-ROME, NY (FHA\|USDA\|VA)	18	$2,220,000	$123,333	$4,352	4.18%
WATERTOWN-FORT DRUM, NY (FHA\|USDA\|VA)	12	$1,850,000	$154,167	$4,964	4.60%
Auburn, NY (FHA\|USDA\|VA)	14	$1,850,000	$132,143	$5,068	4.38%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	4	$1,780,000	$445,000	$7,396	4.22%
BUFFALO-CHEEKTOWAGA, NY (FHA\|USDA\|VA)	5	$1,715,000	$343,000	$4,728	4.20%
Outside of Metro Areas	7	$1,145,000	$163,571	$3,884	4.20%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	4	$970,000	$242,500	$4,513	4.84%
Oneonta, NY (FHA\|USDA\|VA)	1	$735,000	$735,000	$0	6.00%
Corning, NY (FHA\|USDA\|VA)	4	$570,000	$142,500	$4,881	4.06%
Ogdensburg-Massena, NY (FHA\|USDA\|VA)	3	$455,000	$151,667	$3,694	4.29%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	2	$300,000	$150,000	$4,119	4.88%
Seneca Falls, NY (FHA\|USDA\|VA)	2	$260,000	$130,000	$5,359	4.38%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	1	$245,000	$245,000	$4,830	4.50%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA\|USDA\|VA)	1	$215,000	$215,000	$3,994	4.50%
JACKSONVILLE, FL (FHA\|USDA\|VA)	2	$210,000	$105,000	$3,672	4.38%
Cortland, NY (FHA\|USDA\|VA)	1	$195,000	$195,000	$4,338	4.13%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	1	$185,000	$185,000	$4,102	4.75%
PENSACOLA-FERRY PASS-BRENT, FL (FHA\|USDA\|VA)	1	$165,000	$165,000	$3,955	4.88%
ITHACA, NY (FHA\|USDA\|VA)	1	$125,000	$125,000	$3,906	4.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$125,000	$125,000	$3,824	3.88%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	1	$105,000	$105,000	$3,776	3.38%
BINGHAMTON, NY (FHA\|USDA\|VA)	1	$75,000	$75,000	$3,635	4.25%

Genesee Regional Bank's top markets include Rochester, Syracuse, Batavia, New York, and Utica among others.

Their top states include:

New York (FHA|USDA|VA)

Florida (FHA|USDA|VA)

Similar Lenders

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	1,027	$184,745,000	$179,888	$3,838	4.22%
FHA	328	$43,400,000	$132,317	$5,769	4.32%
VA	45	$8,945,000	$198,778	$6,391	4.16%
USDA	14	$2,040,000	$145,714	$5,079	4.15%

For 2019, Genesee Regional Bank's most frequently originated type of loan was Conventional, with 1,027 originations. Their 2nd most popular type was FHA, with 328 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	1,284	$210,560,000	$163,988	$4,470	4.26%
Refi	87	$19,545,000	$224,655	$3,336	3.85%
Cash Out Refi	43	$9,025,000	$209,884	$3,904	4.46%

For 2019, Genesee Regional Bank's most frequently cited loan purpose was Home Purchase, with 1,284 originations. The 2nd most popular reason was Refi, with 87 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	1,299	$214,935,000	$165,462	$4,434	4.28%
15 Year	94	$20,060,000	$213,404	$3,820	3.63%
20 Year	10	$1,860,000	$186,000	$3,512	4.34%
10 Year	9	$1,845,000	$205,000	$3,814	4.78%
1 Year	1	$225,000	$225,000	$0	6.25%
Other	1	$205,000	$205,000	$0	5.60%

For 2019, Genesee Regional Bank's most frequently cited loan duration was 30 Year, with 1,299 originations. The 2nd most popular length was 15 Year, with 94 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	1,294	$211,500,000	$163,447
$2k-3k	69	$14,665,000	$212,536
$3k-4k	21	$4,275,000	$203,571
$<1k	10	$3,340,000	$334,000
$4k-5k	10	$2,340,000	$234,000
$5k+	6	$1,780,000	$296,667

Genesee Regional Bank's average total fees were $4,434, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 1,294 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	695	$111,255,000	$160,079
3-4%	609	$111,865,000	$183,686
5-6%	101	$14,775,000	$146,287
6-7%	6	$480,000	$80,000
2.5-3%	2	$690,000	$345,000

During 2019, Genesee Regional Bank's average interest rate for loans was 4.28%, while their most frequently originated rate bucket for loans was 4-5%, with 695 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	831	$116,445,000	$140,126	$4,394	4.23%
$200k-400k	308	$81,200,000	$263,636	$4,675	4.12%
$100,000 or less	230	$17,920,000	$77,913	$3,820	4.48%
$400k-600k	33	$14,775,000	$447,727	$5,014	4.06%
$600k-1MM	12	$8,790,000	$732,500	$5,310	4.23%

2019 saw Genesee Regional Bank place emphasis on $100k-200k loans with 831 originations, totaling $116,445,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	386	$54,150,000	$140,285	$4,476	4.24%
$50k or less	380	$42,000,000	$110,526	$4,319	4.24%
$100k-150k	239	$51,245,000	$214,414	$4,539	4.20%
$75k-100k	225	$36,755,000	$163,356	$4,331	4.33%
$150k-250k	127	$34,155,000	$268,937	$4,102	4.11%
$250k+	53	$19,595,000	$369,717	$4,360	4.27%

Genesee Regional Bank lent most frequently to those with incomes in the $50k-75k range, with 386 originations. The second most popular income band? $50k or less, with 380 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
30-36%	251	$42,935,000	$171,056	$4,143	4.26%
20-30%	245	$41,705,000	$170,224	$3,933	4.17%
50-60%	110	$17,240,000	$156,727	$5,998	4.26%
49%	71	$11,255,000	$158,521	$4,322	4.32%
44%	67	$10,705,000	$159,776	$4,545	4.15%
43%	66	$11,080,000	$167,879	$4,413	4.33%
42%	65	$10,615,000	$163,308	$4,163	4.21%
41%	59	$10,835,000	$183,644	$4,431	4.20%
45%	56	$8,830,000	$157,679	$4,366	4.27%
36%	52	$8,030,000	$154,423	$4,081	4.12%
<20%	51	$10,455,000	$205,000	$4,177	4.17%
48%	50	$8,030,000	$160,600	$4,360	4.20%
37%	50	$9,050,000	$181,000	$4,314	4.26%
40%	47	$7,435,000	$158,191	$4,315	4.44%
46%	43	$7,035,000	$163,605	$4,790	4.33%
38%	43	$7,815,000	$181,744	$4,239	4.22%
47%	39	$5,765,000	$147,821	$4,589	4.27%
39%	37	$6,095,000	$164,730	$4,306	4.21%
>60%	8	$2,990,000	$373,750	$6,023	4.36%

Genesee Regional Bank lent most frequently to those with DTI ratios of 30-36%, with 251 originations. The next most common DTI ratio? 20-30%, with 245 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	1,243	$212,235,000	$170,744	$4,357	4.23%
Black	74	$9,350,000	$126,351	$4,948	4.39%
Not provided	51	$8,775,000	$172,059	$4,455	4.14%
Asian	41	$7,405,000	$180,610	$4,094	4.23%
Not applicable	4	$1,230,000	$307,500	$0	5.95%
Native Hawaiian or Islander	1	$135,000	$135,000	$3,687	3.63%

Approval Rates

Total approvals of all applications
96.38%

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
89.11%

Genesee Regional Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	1,414	$239,130,000	$169,116

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	3	$1,165,000	$388,333
Single Family (1-4 Units):Site-Built	1,411	$237,965,000	$168,650

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	8	$960,000	$120,000	$3,341	3.86%
40-60%	51	$10,455,000	$205,000	$3,612	4.04%
60-80%	294	$54,070,000	$183,912	$3,843	4.29%
80-100%	1,047	$170,125,000	$162,488	$4,512	4.23%
Over 100%	13	$2,785,000	$214,231	$9,725	4.36%
Under 20%	1	$735,000	$735,000	$0	6.00%

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	$446,095
Genesee Regional Bank	3380 Monroe Ave Rochester, NY 14618	Full Service B&M	$26,905
Genesee Regional Bank	4180 West Ridge Rd Rochester, NY 14626	Full Service B&M	$32,166

For 2019, Genesee Regional Bank had 3 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$28,151
Net interest income	$22,078
Total noninterest income	$6,432
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$704
Trading account gains and fees	$0
Additional Noninterest Income	$5,728
Pre-tax net operating income	$11,075
Securities gains (or losses, -)	$-119
Income before extraordinary items	$8,846
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$8,846
Minority interest net income	$0
Net income	$8,846
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$8,942

Genesee Regional Bank's gross interest income from loans was $28,151,000.
Genesee Regional Bank's net interest income from loans was $22,078,000.
Genesee Regional Bank's fee based income from loans was $704,000.
Genesee Regional Bank's net income from loans was $8,846,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$6,073
Provision for credit losses	$788
Total noninterest expense	$16,647
Salaries and employee benefits	$10,091
Premises and equipment expense	$1,429
Additional noninterest expense	$5,127
Applicable income taxes	$2,110
Net charge-offs	$316
Cash dividends	$2,263

Genesee Regional Bank's interest expense for loans was $6,073,000.
Genesee Regional Bank's payroll and benefits expense were $10,091,000.
Genesee Regional Bank's property, plant and equipment expenses $1,429,000.

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	$494,056
Deposits held in domestic offices	$494,056
Deposits by Individuals, partnerships, and corporations	$408,786
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$69,694
Deposits by Commercial banks and other depository institutions in U.S.	$15,576
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$180,132
Demand deposits	$113,280
Nontransaction accounts	$313,924
Money market deposit accounts (MMDAs)	$216,352
Other savings deposits (excluding MMDAs)	$5,467
Total time deposits	$92,104
Total time and savings deposits	$380,776
Noninterest-bearing deposits	$113,280
Interest-bearing deposits	$380,776
Retail deposits	$436,982
IRAs and Keogh plan accounts	$1,093
Brokered deposits	$31,562
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$574,696
Cash & Balances due from depository institutions	$36,519
Interest-bearing balances	$31,881
Total securities	$84,086
Federal funds sold & reverse repurchase	$0
Net loans and leases	$434,617
Loan and leases loss allowance	$5,523
Trading account assets	$0
Bank premises and fixed assets	$1,549
Other real estate owned	$1,000
Goodwill and other intangibles	$736
All other assets	$16,189

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$574,696
Total Liabilities	$506,405
Total deposits	$494,056
Interest-bearing deposits	$380,776
Deposits held in domestic offices	$494,056
% insured (estimated)	$65
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$10,000
Subordinated debt	$0
All other liabilities	$2,349

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$434,617
Loan and leases loss allowance	$5,523
Total loans and leases (domestic)	$440,140
All real estate loans	$295,295
Real estate loans in domestic offices	$295,295
Construction and development loans	$33,352
Residential 1-4 family construction	$18,419
Other construction, all land development and other land	$14,933
Loans secured by nonfarm nonresidential properties	$162,634
Nonfarm nonresidential secured by owner-occupied properties	$65,377
Commercial real estate & other non-farm, non-residential	$97,257
Multifamily residential real estate	$17,169
1-4 family residential loans	$81,571
Farmland loans	$569
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$128,226
To non-U.S. addressees	$0
Loans to individuals	$4,620
Credit card loans	$0
Related Plans	$579
Consumer Auto Loans	$53
Other loans to individuals	$3,988
All other loans & leases	$11,999
Loans to foreign governments and official institutions	$0
Other loans	$11,999
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$4,325
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$246
Non 1-4 family restructured loans & leases	$246
Total loans and leases (foreign)	$0

Genesee Regional Bank had $434,617,000 of loans outstanding in 2019. $295,295,000 of loans were in real estate loans. $33,352,000 of loans were in development loans. $17,169,000 of loans were in multifamily mortgage loans. $81,571,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $53,000 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	105	$37,841	$360,390
Nonfarm, nonresidential loans - <$100k	4	$177	$44,250
Nonfarm, nonresidential loans - $100-250k	25	$3,607	$144,280
Nonfarm, nonresidential loans - $250k-1MM	76	$34,057	$448,118
Commercial & Industrial, US addressed loans - <$1MM	379	$58,328	$153,900
Commercial & Industrial, US addressed loans - <$100k	115	$2,350	$20,435
Commercial & Industrial, US addressed loans - $100-250k	99	$9,134	$92,263
Commercial & Industrial, US addressed loans - $250k-1MM	165	$46,844	$283,903
Farmland loans - <$1MM	3	$569	$189,667
Farmland loans - $250k-1MM	3	$569	$189,667