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 Refi and Home Purchase loans. Connectone Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Poughkeepsie, Crestview, Key West, and Miami among others. We have data for 7 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

    197

    Origination Dollar Volume (All Markets)

    $433,715,000

    Employee count

    420

    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) 184 $423,810,000 $2,303,315 $0 0.00%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 7 $5,785,000 $826,429 $0 0.00%
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,395,000 $1,395,000 $0 0.00%
    Outside of Metro Areas 1 $1,005,000 $1,005,000 $0 0.00%
    Key West, FL (FHA|USDA|VA) 2 $890,000 $445,000 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $435,000 $435,000 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
    Connectone Bank's top markets include New York, Poughkeepsie, Crestview, Key West, and Miami among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 197 $433,715,000 $2,201,599 $0 0.00%

    For 2020, Connectone Bank's most frequently originated type of loan was Conventional, with 197 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 99 $284,525,000 $2,873,990 $0 0.00%
    Home Purchase 81 $137,275,000 $1,694,753 $0 0.00%
    Cash Out Refi 12 $9,300,000 $775,000 $0 0.00%
    Other 4 $1,630,000 $407,500 $0 0.00%
    Home Improvement 1 $985,000 $985,000 $0 0.00%

    For 2020, Connectone Bank's most frequently cited loan purpose was Refi, with 99 originations. The 2nd most popular reason was Home Purchase, with 81 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 197 $433,715,000 $2,201,599 $0 0.00%

    For 2020, Connectone Bank's most frequently cited loan duration was Other, with 197 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 86 $371,230,000 $4,316,628 $0 0.00%
    $600k-1MM 54 $43,770,000 $810,556 $0 0.00%
    $400k-600k 23 $11,375,000 $494,565 $0 0.00%
    $200k-400k 15 $5,025,000 $335,000 $0 0.00%
    $100k-200k 12 $1,800,000 $150,000 $0 0.00%
    $100,000 or less 7 $515,000 $73,571 $0 0.00%

    2020 saw Connectone Bank place emphasis on $1MM+ loans with 86 originations, totaling $371,230,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 34 $28,910,000 $850,294 $0 0.00%
    $150k-250k 9 $3,855,000 $428,333 $0 0.00%
    $100k-150k 8 $2,050,000 $256,250 $0 0.00%
    $50k-75k 7 $855,000 $122,143 $0 0.00%
    $75k-100k 6 $1,470,000 $245,000 $0 0.00%

    Connectone Bank lent most frequently to those with incomes in the $250k+ range, with 34 originations. The second most popular income band? $150k-250k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 197 $433,715,000 $2,201,599 $0 0.00%

    Connectone Bank lent most frequently to those with DTI ratios of Exempt%, with 197 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 133 $396,575,000 $2,981,767 $0 0.00%
    White 55 $32,375,000 $588,636 $0 0.00%
    Not provided 2 $3,080,000 $1,540,000 $0 0.00%
    Asian 4 $1,360,000 $340,000 $0 0.00%
    Asian Indian 1 $135,000 $135,000 $0 0.00%
    Native Hawaiian or Islander 1 $95,000 $95,000 $0 0.00%
    Black 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.74%

    Connectone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.73%

    Connectone Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 197 $433,715,000 $2,201,599

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 98 $358,890,000 $3,662,143
    Single Family (1-4 Units):Site-Built 99 $74,825,000 $755,808

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Connectone Bank 1 Union Avenue Cresskill, NJ 7626 Full Service B&M $98,547
    Connectone Bank 104 Ely Place Boonton, NJ 7005 Full Service B&M $60,934
    Connectone Bank 12 East Palisades Avenue Englewood, NJ 7631 Full Service B&M $102,447
    Connectone Bank 1365 Palisade Avenue Fort Lee, NJ 7024 Full Service B&M $383,503
    Connectone Bank 142 John Street Hackensack, NJ 7601 Full Service B&M $173,452
    Connectone Bank 155 White Plains Road, Suite 200 Tarrytown, NY 10591 Full Service B&M $39,976
    Connectone Bank 170 East Erie Street Blauvelt, NY 10913 Full Service B&M $32,988
    Connectone Bank 171 East Ridgewood Avenue Ridgewood, NJ 7450 Full Service B&M $118,255
    Connectone Bank 171 East Saddle River Road Saddle River, NJ 7458 Full Service B&M $178,448
    Connectone Bank 214 South Street Morristown, NJ 7960 Full Service B&M $275,546
    Connectone Bank 217 Chestnut Street Newark, NJ 7105 Full Service B&M $275,885
    Connectone Bank 2455 Morris Avenue Union, NJ 7083 Full Service B&M $389,273
    Connectone Bank 301 Sylvan Avenue Englewood Cliffs, NJ 7632 Full Service B&M $2,384,093
    Connectone Bank 320 Haworth Avenue Haworth, NJ 7641 Full Service B&M $83,025
    Connectone Bank 344 Nassau Street Princeton, NJ 8540 Full Service B&M $32,711
    Connectone Bank 356 Chestnut Street Union, NJ 7083 Full Service B&M $121,998
    Connectone Bank 36-19 Broadway Astoria, NY 11106 Full Service B&M $75,517
    Connectone Bank 360 Route 17m Monroe, NY 10950 Full Service B&M $60,668
    Connectone Bank 48 South Service Road Melville, NY 11747 Full Service B&M $75,358
    Connectone Bank 485 Schutt Road Ext Middletown, NY 10940 Full Service B&M $81,133
    Connectone Bank 512 Springfield Avenue Berkeley Heights, NJ 7922 Full Service B&M $80,375
    Connectone Bank 545 Morris Ave Summit, NJ 7901 Full Service B&M $122,304
    Connectone Bank 551 Madison Avenue New York, NY 10022 Full Service B&M $73,285
    Connectone Bank 567 North Broadway White Plains, NY 10603 Full Service B&M $48,930
    Connectone Bank 5914 Park Avenue West New York, NJ 7093 Full Service B&M $48,582
    Connectone Bank 62 Main Street, Suite 1 Warwick, NY 10990 Full Service B&M $43,642
    Connectone Bank 715 Route 304 Bardonia, NY 10954 Full Service B&M $143,636
    Connectone Bank 783 Mountain Avenue Springfield, NJ 7081 Full Service B&M $161,257
    Connectone Bank 899 Palisades Avenue Fort Lee, NJ 7024 Full Service B&M $87,000
    Connectone Bank 963 Holmdel Road Holmdel, NJ 7733 Full Service B&M $60,050

    For 2020, Connectone Bank had 30 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $308,200
    Net interest income $245,569
    Total noninterest income $14,042
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,865
    Trading account gains and fees $0
    Additional Noninterest Income $12,177
    Pre-tax net operating income $97,743
    Securities gains (or losses, -) $231
    Income before extraordinary items $78,873
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $78,873
    Minority interest net income $0
    Net income $78,873
    Sale, conversion, retirement of capital stock, net $2,305
    Net operating income $78,685

    Connectone Bank's gross interest income from loans was $308,200,000.
    Connectone Bank's net interest income from loans was $245,569,000.
    Connectone Bank's fee based income from loans was $1,865,000.
    Connectone Bank's net income from loans was $78,873,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $62,631
    Provision for credit losses $41,000
    Total noninterest expense $120,868
    Salaries and employee benefits $58,758
    Premises and equipment expense $13,882
    Additional noninterest expense $48,228
    Applicable income taxes $19,101
    Net charge-offs $67
    Cash dividends $15,200

    Connectone Bank's interest expense for loans was $62,631,000.
    Connectone Bank's payroll and benefits expense were $58,758,000.
    Connectone Bank's property, plant and equipment expenses $13,882,000.

    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 1.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 1.0%
    All other family 2.0%
    Commercial & industrial loans 3.0%
    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 $5,993,612
    Deposits held in domestic offices $5,993,612
    Deposits by Individuals, partnerships, and corporations $5,014,997
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $693,073
    Deposits by Commercial banks and other depository institutions in U.S. $285,542
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $684,330
    Demand deposits $156,784
    Nontransaction accounts $5,309,282
    Money market deposit accounts (MMDAs) $1,399,350
    Other savings deposits (excluding MMDAs) $2,445,799
    Total time deposits $1,464,133
    Total time and savings deposits $5,836,828
    Noninterest-bearing deposits $1,373,496
    Interest-bearing deposits $4,620,116
    Retail deposits $4,934,975
    IRAs and Keogh plan accounts $85,918
    Brokered deposits $690,356
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $7,496,829
    Cash & Balances due from depository institutions $303,907
    Interest-bearing balances $240,270
    Total securities $501,191
    Federal funds sold & reverse repurchase $0
    Net loans and leases $6,161,791
    Loan and leases loss allowance $79,226
    Trading account assets $0
    Bank premises and fixed assets $29,826
    Other real estate owned $0
    Goodwill and other intangibles $219,349
    All other assets $280,765

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $7,496,829
    Total Liabilities $6,494,828
    Total deposits $5,993,612
    Interest-bearing deposits $4,620,116
    Deposits held in domestic offices $5,993,612
    % insured (estimated) $51
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $428,087
    Subordinated debt $32,250
    All other liabilities $40,879

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $6,161,791
    Loan and leases loss allowance $79,226
    Total loans and leases (domestic) $6,241,017
    All real estate loans $4,983,937
    Real estate loans in domestic offices $4,983,937
    Construction and development loans $762,290
    Residential 1-4 family construction $142,786
    Other construction, all land development and other land $619,504
    Loans secured by nonfarm nonresidential properties $1,915,337
    Nonfarm nonresidential secured by owner-occupied properties $644,118
    Commercial real estate & other non-farm, non-residential $1,271,219
    Multifamily residential real estate $1,712,153
    1-4 family residential loans $594,157
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,091,580
    To non-U.S. addressees $0
    Loans to individuals $1,074
    Credit card loans $631
    Related Plans $130
    Consumer Auto Loans $0
    Other loans to individuals $313
    All other loans & leases $175,800
    Loans to foreign governments and official institutions $0
    Other loans $161,257
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $38,867
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $22,952
    Non 1-4 family restructured loans & leases $19,533
    Total loans and leases (foreign) $0

    ConnectOne Bank had $6,161,791,000 of loans outstanding in 2020. $4,983,937,000 of loans were in real estate loans. $762,290,000 of loans were in development loans. $1,712,153,000 of loans were in multifamily mortgage loans. $594,157,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $631,000 of loans were in credit card loans. $0 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 598 $262,101 $438,296
    Nonfarm, nonresidential loans - <$100k 25 $1,571 $62,840
    Nonfarm, nonresidential loans - $100-250k 97 $13,674 $140,969
    Nonfarm, nonresidential loans - $250k-1MM 476 $246,856 $518,605
    Commercial & Industrial, US addressed loans - <$1MM 2,718 $357,773 $131,631
    Commercial & Industrial, US addressed loans - <$100k 1,660 $57,838 $34,842
    Commercial & Industrial, US addressed loans - $100-250k 540 $79,161 $146,594
    Commercial & Industrial, US addressed loans - $250k-1MM 518 $220,774 $426,205