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 and Refi 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, Watertown, and Utica among others. We have data for 29 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 an above 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

2,261

Origination Dollar Volume (All Markets)

$416,755,000

Employee count

139

Awards

Genesee Regional Bank 30 Year Conventional Loans silver

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
ROCHESTER, NY (FHA\|USDA\|VA)	1,813	$333,055,000	$183,704	$3,826	3.23%
SYRACUSE, NY (FHA\|USDA\|VA)	240	$39,740,000	$165,583	$4,495	3.17%
Auburn, NY (FHA\|USDA\|VA)	35	$6,765,000	$193,286	$4,998	3.15%
WATERTOWN-FORT DRUM, NY (FHA\|USDA\|VA)	33	$5,745,000	$174,091	$5,893	3.66%
UTICA-ROME, NY (FHA\|USDA\|VA)	20	$3,960,000	$198,000	$4,841	3.27%
BUFFALO-CHEEKTOWAGA, NY (FHA\|USDA\|VA)	18	$3,730,000	$207,222	$3,424	3.14%
Corning, NY (FHA\|USDA\|VA)	12	$3,100,000	$258,333	$4,409	3.22%
Ogdensburg-Massena, NY (FHA\|USDA\|VA)	17	$3,055,000	$179,706	$7,174	3.32%
NAPLES-MARCO ISLAND, FL (FHA\|USDA\|VA)	6	$2,730,000	$455,000	$5,495	3.23%
Batavia, NY (FHA\|USDA\|VA)	18	$2,430,000	$135,000	$3,804	3.27%
Outside of Metro Areas	10	$1,980,000	$198,000	$3,504	3.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	5	$1,685,000	$337,000	$4,817	3.40%
North Port-Sarasota-Bradenton, FL (FHA\|USDA\|VA)	4	$1,680,000	$420,000	$5,632	3.34%
CAPE CORAL-FORT MYERS, FL (FHA\|USDA\|VA)	6	$1,640,000	$273,333	$4,537	3.08%
Seneca Falls, NY (FHA\|USDA\|VA)	6	$1,280,000	$213,333	$3,642	3.13%
PUNTA GORDA, FL (FHA\|USDA\|VA)	3	$775,000	$258,333	$3,811	3.17%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA\|USDA\|VA)	1	$605,000	$605,000	$6,382	3.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	1	$515,000	$515,000	$3,357	2.50%
ALBANY-SCHENECTADY-TROY, NY (FHA\|USDA\|VA)	2	$460,000	$230,000	$3,007	2.56%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA\|USDA\|VA)	2	$430,000	$215,000	$5,573	3.38%
POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA\|USDA\|VA)	1	$225,000	$225,000	$2,766	3.13%
Olean, NY (FHA\|USDA\|VA)	1	$205,000	$205,000	$3,258	3.25%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$195,000	$195,000	$5,531	3.38%
Malone, NY (FHA\|USDA\|VA)	1	$185,000	$185,000	$11,075	2.75%
ELMIRA, NY (FHA\|USDA\|VA)	1	$155,000	$155,000	$5,908	3.25%
GLENS FALLS, NY (FHA\|USDA\|VA)	1	$135,000	$135,000	$2,705	2.88%
Cortland, NY (FHA\|USDA\|VA)	1	$125,000	$125,000	$5,812	2.88%
Arcadia, FL (FHA\|USDA\|VA)	1	$115,000	$115,000	$5,514	2.75%
BINGHAMTON, NY (FHA\|USDA\|VA)	1	$55,000	$55,000	$2,975	2.88%

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

Their top states include:

New York (FHA|USDA|VA)

Florida (FHA|USDA|VA)

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.

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	1,858	$355,670,000	$191,426	$3,528	3.20%
FHA	309	$43,275,000	$140,049	$5,920	3.37%
VA	74	$15,150,000	$204,730	$7,436	3.24%
USDA	20	$2,660,000	$133,000	$4,829	3.35%

For 2020, Genesee Regional Bank's most frequently originated type of loan was Conventional, with 1,858 originations. Their 2nd most popular type was FHA, with 309 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	1,618	$283,870,000	$175,445	$4,260	3.25%
Refi	433	$86,335,000	$199,388	$3,188	3.05%
Cash Out Refi	210	$46,550,000	$221,667	$3,622	3.37%

For 2020, Genesee Regional Bank's most frequently cited loan purpose was Home Purchase, with 1,618 originations. The 2nd most popular reason was Refi, with 433 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	1,841	$329,965,000	$179,231	$4,146	3.29%
15 Year	354	$75,130,000	$212,232	$3,381	2.86%
20 Year	46	$7,810,000	$169,783	$3,024	3.23%
10 Year	14	$2,880,000	$205,714	$3,473	3.27%
Other	6	$970,000	$161,667	$2,871	4.02%

For 2020, Genesee Regional Bank's most frequently cited loan duration was 30 Year, with 1,841 originations. The 2nd most popular length was 15 Year, with 354 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$1k-2k	2,029	$368,105,000	$181,422
$2k-3k	133	$25,315,000	$190,338
$3k-4k	43	$9,445,000	$219,651
$<1k	21	$4,915,000	$234,048
$5k+	18	$5,080,000	$282,222
$4k-5k	15	$3,265,000	$217,667

Genesee Regional Bank's average total fees were $4,146, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 2,029 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
3-4%	1,189	$211,035,000	$177,489
2.5-3%	878	$171,350,000	$195,159
4-5%	101	$16,095,000	$159,356
<2.5%	82	$17,240,000	$210,244
5-6%	11	$1,035,000	$94,091

During 2020, Genesee Regional Bank's average interest rate for loans was 3.29%, while their most frequently originated rate bucket for loans was 3-4%, with 1,189 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	1,315	$190,895,000	$145,167	$3,856	3.22%
$200k-400k	565	$151,465,000	$268,080	$4,404	3.14%
$100,000 or less	284	$22,240,000	$78,310	$3,627	3.45%
$400k-600k	79	$36,645,000	$463,861	$4,490	3.08%
$600k-1MM	12	$8,520,000	$710,000	$5,067	3.42%
$1MM+	6	$6,990,000	$1,165,000	$5,489	2.90%

2020 saw Genesee Regional Bank place emphasis on $100k-200k loans with 1,315 originations, totaling $190,895,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	608	$91,650,000	$150,740	$4,057	3.24%
$50k or less	492	$56,730,000	$115,305	$4,070	3.26%
$100k-150k	402	$84,520,000	$210,249	$3,959	3.18%
$75k-100k	384	$68,040,000	$177,188	$3,862	3.24%
$150k-250k	237	$60,485,000	$255,211	$3,898	3.15%
$250k+	136	$54,700,000	$402,206	$4,113	3.21%

Genesee Regional Bank lent most frequently to those with incomes in the $50k-75k range, with 608 originations. The second most popular income band? $50k or less, with 492 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	476	$88,180,000	$185,252	$3,594	3.15%
30-36%	394	$72,910,000	$185,051	$4,021	3.17%
<20%	171	$38,155,000	$223,129	$3,491	3.09%
43%	114	$19,980,000	$175,263	$4,120	3.22%
40%	109	$19,605,000	$179,862	$3,744	3.24%
50-60%	106	$16,730,000	$157,830	$5,837	3.35%
44%	99	$17,255,000	$174,293	$4,024	3.36%
42%	97	$17,485,000	$180,258	$3,917	3.27%
39%	87	$15,875,000	$182,471	$3,840	3.31%
41%	84	$15,360,000	$182,857	$3,827	3.30%
37%	80	$12,470,000	$155,875	$3,800	3.25%
48%	73	$12,915,000	$176,918	$4,391	3.30%
46%	67	$13,025,000	$194,403	$4,547	3.28%
36%	67	$11,755,000	$175,448	$3,963	3.25%
38%	63	$11,195,000	$177,698	$4,058	3.27%
45%	58	$10,480,000	$180,690	$4,375	3.37%
49%	57	$10,115,000	$177,456	$4,221	3.24%
47%	50	$9,750,000	$195,000	$4,530	3.27%
>60%	7	$2,885,000	$412,143	$4,698	3.54%

Genesee Regional Bank lent most frequently to those with DTI ratios of 20-30%, with 476 originations. The next most common DTI ratio? 30-36%, with 394 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	1,938	$360,690,000	$186,115	$3,971	3.23%
Not provided	166	$29,390,000	$177,048	$3,974	3.19%
Black	98	$13,300,000	$135,714	$4,334	3.24%
Asian	52	$11,880,000	$228,462	$4,181	3.06%
American Indian	5	$865,000	$173,000	$5,943	3.25%
Not applicable	2	$630,000	$315,000	$0	4.71%

Approval Rates

Total approvals of all applications
97.30%

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
90.14%

Genesee Regional Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	2,261	$416,755,000	$184,323

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	1	$375,000	$375,000
Single Family (1-4 Units):Site-Built	2,260	$416,380,000	$184,239

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	27	$3,295,000	$122,037	$3,193	3.06%
40-60%	110	$20,840,000	$189,455	$3,314	3.04%
60-80%	666	$136,130,000	$204,399	$3,497	3.23%
80-100%	1,441	$252,005,000	$174,882	$4,195	3.23%
Over 100%	16	$4,060,000	$253,750	$12,728	3.39%
Under 20%	1	$425,000	$425,000	$5,687	3.75%

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	$565,642
Genesee Regional Bank	3380 Monroe Ave Rochester, NY 14618	Full Service B&M	$34,826
Genesee Regional Bank	4180 West Ridge Rd Rochester, NY 14626	Full Service B&M	$36,983

For 2020, Genesee Regional Bank had 3 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$28,864
Net interest income	$26,518
Total noninterest income	$14,397
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$667
Trading account gains and fees	$0
Additional Noninterest Income	$13,730
Pre-tax net operating income	$19,017
Securities gains (or losses, -)	$0
Income before extraordinary items	$15,085
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$15,085
Minority interest net income	$0
Net income	$15,085
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$15,085

Genesee Regional Bank's gross interest income from loans was $28,864,000.
Genesee Regional Bank's net interest income from loans was $26,518,000.
Genesee Regional Bank's fee based income from loans was $667,000.
Genesee Regional Bank's net income from loans was $15,085,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$2,346
Provision for credit losses	$3,065
Total noninterest expense	$18,833
Salaries and employee benefits	$11,730
Premises and equipment expense	$1,372
Additional noninterest expense	$5,731
Applicable income taxes	$3,932
Net charge-offs	$-190
Cash dividends	$3,796

Genesee Regional Bank's interest expense for loans was $2,346,000.
Genesee Regional Bank's payroll and benefits expense were $11,730,000.
Genesee Regional Bank's property, plant and equipment expenses $1,372,000.

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	$666,568
Deposits held in domestic offices	$666,568
Deposits by Individuals, partnerships, and corporations	$574,711
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$73,886
Deposits by Commercial banks and other depository institutions in U.S.	$17,970
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$283,421
Demand deposits	$191,022
Nontransaction accounts	$383,146
Money market deposit accounts (MMDAs)	$288,634
Other savings deposits (excluding MMDAs)	$7,015
Total time deposits	$87,498
Total time and savings deposits	$475,545
Noninterest-bearing deposits	$191,022
Interest-bearing deposits	$475,546
Retail deposits	$606,590
IRAs and Keogh plan accounts	$930
Brokered deposits	$37,192
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$751,390
Cash & Balances due from depository institutions	$87,481
Interest-bearing balances	$82,698
Total securities	$92,667
Federal funds sold & reverse repurchase	$0
Net loans and leases	$543,456
Loan and leases loss allowance	$8,778
Trading account assets	$0
Bank premises and fixed assets	$1,418
Other real estate owned	$1,000
Goodwill and other intangibles	$2,048
All other assets	$23,320

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$751,390
Total Liabilities	$669,888
Total deposits	$666,568
Interest-bearing deposits	$475,546
Deposits held in domestic offices	$666,568
% insured (estimated)	$61
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$3,320

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$543,456
Loan and leases loss allowance	$8,778
Total loans and leases (domestic)	$552,234
All real estate loans	$319,414
Real estate loans in domestic offices	$319,414
Construction and development loans	$25,623
Residential 1-4 family construction	$12,303
Other construction, all land development and other land	$13,320
Loans secured by nonfarm nonresidential properties	$171,728
Nonfarm nonresidential secured by owner-occupied properties	$72,397
Commercial real estate & other non-farm, non-residential	$99,331
Multifamily residential real estate	$19,664
1-4 family residential loans	$101,848
Farmland loans	$551
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$200,753
To non-U.S. addressees	$0
Loans to individuals	$3,603
Credit card loans	$0
Related Plans	$307
Consumer Auto Loans	$44
Other loans to individuals	$3,252
All other loans & leases	$28,463
Loans to foreign governments and official institutions	$0
Other loans	$28,463
Loans to depository institutions and acceptances of other banks	$0
Loans not secured by real estate	$4,198
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$314
Non 1-4 family restructured loans & leases	$314
Total loans and leases (foreign)	$0

Genesee Regional Bank had $543,456,000 of loans outstanding in 2020. $319,414,000 of loans were in real estate loans. $25,623,000 of loans were in development loans. $19,664,000 of loans were in multifamily mortgage loans. $101,848,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $44,000 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	104	$36,073	$346,856
Nonfarm, nonresidential loans - <$100k	3	$86	$28,667
Nonfarm, nonresidential loans - $100-250k	25	$3,338	$133,520
Nonfarm, nonresidential loans - $250k-1MM	76	$32,649	$429,592
Commercial & Industrial, US addressed loans - <$1MM	596	$80,139	$134,461
Commercial & Industrial, US addressed loans - <$100k	269	$6,839	$25,424
Commercial & Industrial, US addressed loans - $100-250k	131	$14,222	$108,565
Commercial & Industrial, US addressed loans - $250k-1MM	196	$59,078	$301,418
Farmland loans - <$1MM	3	$551	$183,667
Farmland loans - $250k-1MM	3	$551	$183,667