Connectone Bank Mortgage Rates, Fees & Info

Englewood Cliffs, NJ

LEI: 549300X03SL4SM0F3U87

Tax ID: 20-1172127

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    Connectone Bank is a smaller bank specializing in Home Purchase and Refi loans. Connectone Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: New York, Poughkeepsie, Miami, Allentown, and Kingston among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Connectone 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.

    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.

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    Originations

    214

    Origination Dollar Volume (All Markets)

    $321,890,000

    Employee count

    352

    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
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 203 $315,295,000 $1,553,177 $0 0.00%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 3 $1,975,000 $658,333 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $1,885,000 $1,885,000 $0 0.00%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $1,205,000 $1,205,000 $0 0.00%
    KINGSTON, NY (FHA|USDA|VA) 3 $645,000 $215,000 $0 0.00%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
    ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    Connectone Bank's top markets include New York, Poughkeepsie, Miami, Allentown, and Kingston among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 213 $321,625,000 $1,509,977 $0 0.00%
    USDA 1 $265,000 $265,000 $0 0.00%

    For 2019, Connectone Bank's most frequently originated type of loan was Conventional, with 213 originations. Their 2nd most popular type was USDA, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 102 $141,260,000 $1,384,902 $0 0.00%
    Refi 71 $160,655,000 $2,262,746 $0 0.00%
    Cash Out Refi 30 $14,910,000 $497,000 $0 0.00%
    Other 9 $3,805,000 $422,778 $0 0.00%
    Home Improvement 2 $1,260,000 $630,000 $0 0.00%

    For 2019, Connectone Bank's most frequently cited loan purpose was Home Purchase, with 102 originations. The 2nd most popular reason was Refi, with 71 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 214 $321,890,000 $1,504,159 $0 0.00%

    For 2019, Connectone Bank's most frequently cited loan duration was Other, with 214 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 81 $271,295,000 $3,349,321 $0 0.00%
    $200k-400k 52 $16,270,000 $312,885 $0 0.00%
    $600k-1MM 26 $20,100,000 $773,077 $0 0.00%
    $400k-600k 21 $10,275,000 $489,286 $0 0.00%
    $100k-200k 18 $2,820,000 $156,667 $0 0.00%
    $100,000 or less 16 $1,130,000 $70,625 $0 0.00%

    2019 saw Connectone Bank place emphasis on $1MM+ loans with 81 originations, totaling $271,295,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 31 $21,545,000 $695,000 $0 0.00%
    $150k-250k 30 $13,120,000 $437,333 $0 0.00%
    $100k-150k 25 $6,475,000 $259,000 $0 0.00%
    $75k-100k 9 $1,485,000 $165,000 $0 0.00%
    $50k-75k 3 $545,000 $181,667 $0 0.00%
    $50k or less 2 $280,000 $140,000 $0 0.00%

    Connectone Bank lent most frequently to those with incomes in the $250k+ range, with 31 originations. The second most popular income band? $150k-250k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 214 $321,890,000 $1,504,159 $0 0.00%

    Connectone Bank lent most frequently to those with DTI ratios of Exempt%, with 214 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 114 $278,440,000 $2,442,456 $0 0.00%
    White 83 $39,095,000 $471,024 $0 0.00%
    Asian 9 $1,945,000 $216,111 $0 0.00%
    Not provided 6 $1,630,000 $271,667 $0 0.00%
    Black 2 $780,000 $390,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.52%

    Connectone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.84%

    Connectone Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 214 $321,890,000 $1,504,159

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 75 $228,865,000 $3,051,533
    Single Family (1-4 Units):Site-Built 139 $93,025,000 $669,245

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    ConnectOne Bank 1 Union Avenue Cresskill, NJ 7626 Full Service B&M $89,911
    ConnectOne Bank 104 Ely Place Boonton, NJ 7005 Full Service B&M $61,425
    ConnectOne Bank 12 East Palisades Avenue Englewood, NJ 7631 Full Service B&M $57,251
    ConnectOne Bank 142 John Street Hackensack, NJ 7601 Full Service B&M $75,822
    ConnectOne Bank 155 White Plains Road, Suite 200 Tarrytown, NY 10591 Full Service B&M $38,793
    ConnectOne Bank 170 East Erie Street Blauvelt, NY 10913 Full Service B&M $19,593
    ConnectOne Bank 171 East Ridgewood Avenue Ridgewood, NJ 7450 Full Service B&M $105,455
    ConnectOne Bank 171 East Saddle River Road Saddle River, NJ 7458 Full Service B&M $74,551
    ConnectOne Bank 214 South Street Morristown, NJ 7960 Full Service B&M $225,961
    ConnectOne Bank 217 Chestnut Street Newark, NJ 7105 Full Service B&M $240,242
    ConnectOne Bank 2455 Morris Avenue Union, NJ 7083 Full Service B&M $324,095
    ConnectOne Bank 300 Main Street Madison, NJ 7940 Full Service B&M $58,978
    ConnectOne Bank 301 Sylvan Avenue Englewood Cliffs, NJ 7632 Full Service B&M $2,124,059
    ConnectOne Bank 344 Nassau Street Princeton, NJ 8540 Full Service B&M $29,863
    ConnectOne Bank 356 Chestnut Street Union, NJ 7083 Full Service B&M $106,577
    ConnectOne Bank 36-19 Broadway Astoria, NY 11106 Full Service B&M $61,388
    ConnectOne Bank 360 Route 17m Monroe, NY 10950 Full Service B&M $63,239
    ConnectOne Bank 48 South Service Road Melville, NY 11747 Full Service B&M $59,002
    ConnectOne Bank 485 Schutt Road Ext Middletown, NY 10940 Full Service B&M $79,720
    ConnectOne Bank 512 Springfield Avenue Berkeley Heights, NJ 7922 Full Service B&M $75,242
    ConnectOne Bank 545 Morris Ave Summit, NJ 7901 Full Service B&M $44,487
    ConnectOne Bank 551 Madison Avenue New York, NY 10022 Full Service B&M $61,389
    ConnectOne Bank 567 North Broadway White Plains, NY 10603 Full Service B&M $52,089
    ConnectOne Bank 5914 Park Avenue West New York, NJ 7093 Full Service B&M $65,449
    ConnectOne Bank 62 Main Street, Suite 1 Warwick, NY 10990 Full Service B&M $45,280
    ConnectOne Bank 715 Route 304 Bardonia, NY 10954 Full Service B&M $134,490
    ConnectOne Bank 783 Mountain Avenue Springfield, NJ 7081 Full Service B&M $142,293
    ConnectOne Bank 899 Palisades Avenue Fort Lee, NJ 7024 Full Service B&M $89,901
    ConnectOne Bank 963 Holmdel Road Holmdel, NJ 7733 Full Service B&M $55,271

    For 2019, Connectone Bank had 29 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $271,479
    Net interest income $192,008
    Total noninterest income $8,013
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,168
    Trading account gains and fees $0
    Additional Noninterest Income $5,845
    Pre-tax net operating income $99,701
    Securities gains (or losses, -) $59
    Income before extraordinary items $79,129
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $79,129
    Minority interest net income $0
    Net income $79,129
    Sale, conversion, retirement of capital stock, net $2,943
    Net operating income $79,082

    Connectone Bank's gross interest income from loans was $271,479,000.
    Connectone Bank's net interest income from loans was $192,008,000.
    Connectone Bank's fee based income from loans was $2,168,000.
    Connectone Bank's net income from loans was $79,129,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $79,471
    Provision for credit losses $8,100
    Total noninterest expense $92,220
    Salaries and employee benefits $49,135
    Premises and equipment expense $9,712
    Additional noninterest expense $33,373
    Applicable income taxes $20,631
    Net charge-offs $4,761
    Cash dividends $30,050

    Connectone Bank's interest expense for loans was $79,471,000.
    Connectone Bank's payroll and benefits expense were $49,135,000.
    Connectone Bank's property, plant and equipment expenses $9,712,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    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 4.0%
    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 $4,788,934
    Deposits held in domestic offices $4,788,934
    Deposits by Individuals, partnerships, and corporations $3,858,656
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $614,458
    Deposits by Commercial banks and other depository institutions in U.S. $315,820
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $510,297
    Demand deposits $202,771
    Nontransaction accounts $4,278,637
    Money market deposit accounts (MMDAs) $1,109,078
    Other savings deposits (excluding MMDAs) $1,615,839
    Total time deposits $1,553,720
    Total time and savings deposits $4,586,163
    Noninterest-bearing deposits $883,121
    Interest-bearing deposits $3,905,813
    Retail deposits $3,735,212
    IRAs and Keogh plan accounts $61,613
    Brokered deposits $740,153
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $6,173,877
    Cash & Balances due from depository institutions $201,632
    Interest-bearing balances $135,915
    Total securities $415,736
    Federal funds sold & reverse repurchase $0
    Net loans and leases $5,108,484
    Loan and leases loss allowance $38,293
    Trading account assets $0
    Bank premises and fixed assets $18,685
    Other real estate owned $0
    Goodwill and other intangibles $168,034
    All other assets $261,306

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $6,173,877
    Total Liabilities $5,363,172
    Total deposits $4,788,934
    Interest-bearing deposits $3,905,813
    Deposits held in domestic offices $4,788,934
    % insured (estimated) $55
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $502,612
    Subordinated debt $32,250
    All other liabilities $39,376

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $5,108,484
    Loan and leases loss allowance $38,293
    Total loans and leases (domestic) $5,146,777
    All real estate loans $4,256,588
    Real estate loans in domestic offices $4,256,588
    Construction and development loans $784,645
    Residential 1-4 family construction $183,700
    Other construction, all land development and other land $600,945
    Loans secured by nonfarm nonresidential properties $1,391,955
    Nonfarm nonresidential secured by owner-occupied properties $526,937
    Commercial real estate & other non-farm, non-residential $865,018
    Multifamily residential real estate $1,518,400
    1-4 family residential loans $561,588
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $742,310
    To non-U.S. addressees $0
    Loans to individuals $1,151
    Credit card loans $762
    Related Plans $140
    Consumer Auto Loans $4
    Other loans to individuals $245
    All other loans & leases $151,495
    Loans to foreign governments and official institutions $0
    Other loans $135,840
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $33,180
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $21,410
    Non 1-4 family restructured loans & leases $20,294
    Total loans and leases (foreign) $0

    ConnectOne Bank had $5,108,484,000 of loans outstanding in 2019. $4,256,588,000 of loans were in real estate loans. $784,645,000 of loans were in development loans. $1,518,400,000 of loans were in multifamily mortgage loans. $561,588,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $762,000 of loans were in credit card loans. $4,000 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 472 $196,584 $416,492
    Nonfarm, nonresidential loans - <$100k 22 $978 $44,455
    Nonfarm, nonresidential loans - $100-250k 89 $12,430 $139,663
    Nonfarm, nonresidential loans - $250k-1MM 361 $183,176 $507,413
    Commercial & Industrial, US addressed loans - <$1MM 701 $133,286 $190,137
    Commercial & Industrial, US addressed loans - <$100k 267 $8,798 $32,951
    Commercial & Industrial, US addressed loans - $100-250k 156 $20,464 $131,179
    Commercial & Industrial, US addressed loans - $250k-1MM 278 $104,024 $374,187