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 small 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, Philadelphia, Allentown, Poughkeepsie, and Norwich among others. We have data for 11 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

    422

    Origination Dollar Volume (All Markets)

    $1,169,320,000

    Employee count

    443

    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) 380 $1,062,800,000 $2,796,842 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 21 $63,605,000 $3,028,810 $0 0.00%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $14,910,000 $3,727,500 $0 0.00%
    POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) 7 $14,205,000 $2,029,286 $0 0.00%
    NORWICH-NEW LONDON, CT (FHA|USDA|VA) 2 $3,910,000 $1,955,000 $0 0.00%
    ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $3,235,000 $3,235,000 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $2,815,000 $938,333 $0 0.00%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 1 $1,705,000 $1,705,000 $0 0.00%
    GLENS FALLS, NY (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
    Torrington, CT (FHA|USDA|VA) 1 $725,000 $725,000 $0 0.00%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
    Connectone Bank's top markets include New York, Philadelphia, Allentown, Poughkeepsie, and Norwich among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 422 $1,169,320,000 $2,770,900 $0 0.00%

    For 2021, Connectone Bank's most frequently originated type of loan was Conventional, with 422 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 208 $552,810,000 $2,657,740 $0 0.00%
    Home Purchase 192 $569,440,000 $2,965,833 $0 0.00%
    Cash Out Refi 11 $5,845,000 $531,364 $0 0.00%
    Home Improvement 10 $41,020,000 $4,102,000 $0 0.00%
    Other 1 $205,000 $205,000 $0 0.00%

    For 2021, Connectone Bank's most frequently cited loan purpose was Refi, with 208 originations. The 2nd most popular reason was Home Purchase, with 192 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 422 $1,169,320,000 $2,770,900 $0 0.00%

    For 2021, Connectone Bank's most frequently cited loan duration was Other, with 422 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 286 $1,086,280,000 $3,798,182 $0 0.00%
    $600k-1MM 80 $63,330,000 $791,625 $0 0.00%
    $400k-600k 24 $12,160,000 $506,667 $0 0.00%
    $200k-400k 20 $6,090,000 $304,500 $0 0.00%
    $100k-200k 8 $1,210,000 $151,250 $0 0.00%
    $100,000 or less 4 $250,000 $62,500 $0 0.00%

    2021 saw Connectone Bank place emphasis on $1MM+ loans with 286 originations, totaling $1,086,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 22 $22,220,000 $1,010,000 $0 0.00%
    $100k-150k 9 $1,895,000 $210,556 $0 0.00%
    $150k-250k 8 $2,470,000 $308,750 $0 0.00%
    $50k-75k 3 $515,000 $171,667 $0 0.00%
    $50k or less 1 $105,000 $105,000 $0 0.00%
    $75k-100k 1 $285,000 $285,000 $0 0.00%

    Connectone Bank lent most frequently to those with incomes in the $250k+ range, with 22 originations. The second most popular income band? $100k-150k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 422 $1,169,320,000 $2,770,900 $0 0.00%

    Connectone Bank lent most frequently to those with DTI ratios of Exempt%, with 422 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 378 $1,141,830,000 $3,020,714 $0 0.00%
    White 33 $21,025,000 $637,121 $0 0.00%
    Not provided 7 $5,825,000 $832,143 $0 0.00%
    Asian 4 $640,000 $160,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.81%

    Connectone Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.31%

    Connectone Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 422 $1,169,320,000 $2,770,900

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    422 $1,169,320,000 $2,770,900

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Connectone Bank 1 Union Avenue Cresskill, NJ 7626 Full Service B&M $92,968
    Connectone Bank 12 East Palisades Avenue Englewood, NJ 7631 Full Service B&M $96,704
    Connectone Bank 1365 Palisade Avenue Fort Lee, NJ 7024 Full Service B&M $354,773
    Connectone Bank 142 John Street Hackensack, NJ 7601 Full Service B&M $175,695
    Connectone Bank 155 White Plains Road, Suite 200 Tarrytown, NY 10591 Full Service B&M $38,505
    Connectone Bank 170 East Erie Street Blauvelt, NY 10913 Full Service B&M $35,130
    Connectone Bank 171 East Ridgewood Avenue Ridgewood, NJ 7450 Full Service B&M $140,006
    Connectone Bank 171 East Saddle River Road Saddle River, NJ 7458 Full Service B&M $180,626
    Connectone Bank 214 South Street Morristown, NJ 7960 Full Service B&M $299,434
    Connectone Bank 217 Chestnut Street Newark, NJ 7105 Full Service B&M $307,677
    Connectone Bank 2455 Morris Avenue Union, NJ 7083 Full Service B&M $399,218
    Connectone Bank 301 Sylvan Avenue Englewood Cliffs, NJ 7632 Full Service B&M $2,377,893
    Connectone Bank 320 Haworth Avenue Haworth, NJ 7641 Full Service B&M $76,030
    Connectone Bank 356 Chestnut Street Union, NJ 7083 Full Service B&M $123,854
    Connectone Bank 36-19 Broadway Astoria, NY 11106 Full Service B&M $196,644
    Connectone Bank 48 South Service Road Melville, NY 11747 Full Service B&M $325,452
    Connectone Bank 485 Schutt Road Ext Middletown, NY 10940 Full Service B&M $90,356
    Connectone Bank 512 Springfield Avenue Berkeley Heights, NJ 7922 Full Service B&M $78,428
    Connectone Bank 545 Morris Ave Summit, NJ 7901 Full Service B&M $120,025
    Connectone Bank 551 Madison Avenue New York, NY 10022 Full Service B&M $97,677
    Connectone Bank 567 North Broadway White Plains, NY 10603 Full Service B&M $50,139
    Connectone Bank 5914 Park Avenue West New York, NJ 7093 Full Service B&M $44,663
    Connectone Bank 715 Route 304 Bardonia, NY 10954 Full Service B&M $158,913
    Connectone Bank 783 Mountain Avenue Springfield, NJ 7081 Full Service B&M $161,863
    Connectone Bank 899 Palisades Avenue Fort Lee, NJ 7024 Full Service B&M $93,731
    Connectone Bank 963 Holmdel Road Holmdel, NJ 7733 Full Service B&M $108,432

    For 2021, Connectone Bank had 26 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $301,739
    Net interest income $269,871
    Total noninterest income $15,868
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,587
    Trading account gains and fees $0
    Additional Noninterest Income $13,281
    Pre-tax net operating income $182,295
    Securities gains (or losses, -) $-123
    Income before extraordinary items $137,467
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $137,467
    Minority interest net income $0
    Net income $137,467
    Sale, conversion, retirement of capital stock, net $4,419
    Net operating income $137,564

    Connectone Bank's gross interest income from loans was $301,739,000.
    Connectone Bank's net interest income from loans was $269,871,000.
    Connectone Bank's fee based income from loans was $2,587,000.
    Connectone Bank's net income from loans was $137,467,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $31,868
    Provision for credit losses $-5,500
    Total noninterest expense $108,944
    Salaries and employee benefits $64,072
    Premises and equipment expense $12,342
    Additional noninterest expense $32,530
    Applicable income taxes $44,705
    Net charge-offs $1,992
    Cash dividends $23,958

    Connectone Bank's interest expense for loans was $31,868,000.
    Connectone Bank's payroll and benefits expense were $64,072,000.
    Connectone Bank's property, plant and equipment expenses $12,342,000.

    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 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 $6,466,601
    Deposits held in domestic offices $6,466,601
    Deposits by Individuals, partnerships, and corporations $5,490,463
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $691,869
    Deposits by Commercial banks and other depository institutions in U.S. $284,269
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $3,307,572
    Demand deposits $2,305,598
    Nontransaction accounts $3,159,029
    Money market deposit accounts (MMDAs) $1,570,477
    Other savings deposits (excluding MMDAs) $438,441
    Total time deposits $1,150,111
    Total time and savings deposits $4,161,003
    Noninterest-bearing deposits $1,750,697
    Interest-bearing deposits $4,715,904
    Retail deposits $5,471,726
    IRAs and Keogh plan accounts $72,683
    Brokered deposits $744,351
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $8,128,599
    Cash & Balances due from depository institutions $265,686
    Interest-bearing balances $211,334
    Total securities $547,426
    Federal funds sold & reverse repurchase $0
    Net loans and leases $6,750,099
    Loan and leases loss allowance $78,773
    Trading account assets $0
    Bank premises and fixed assets $27,846
    Other real estate owned $0
    Goodwill and other intangibles $217,369
    All other assets $320,173

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $8,128,599
    Total Liabilities $7,017,079
    Total deposits $6,466,601
    Interest-bearing deposits $4,715,904
    Deposits held in domestic offices $6,466,601
    % insured (estimated) $50
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $470,128
    Subordinated debt $32,250
    All other liabilities $48,100

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $6,750,099
    Loan and leases loss allowance $78,773
    Total loans and leases (domestic) $6,828,872
    All real estate loans $5,790,749
    Real estate loans in domestic offices $5,790,749
    Construction and development loans $688,091
    Residential 1-4 family construction $88,154
    Other construction, all land development and other land $599,937
    Loans secured by nonfarm nonresidential properties $2,186,220
    Nonfarm nonresidential secured by owner-occupied properties $710,164
    Commercial real estate & other non-farm, non-residential $1,476,056
    Multifamily residential real estate $2,337,712
    1-4 family residential loans $578,726
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $850,680
    To non-U.S. addressees $0
    Loans to individuals $667
    Credit card loans $373
    Related Plans $116
    Consumer Auto Loans $0
    Other loans to individuals $178
    All other loans & leases $196,504
    Loans to foreign governments and official institutions $0
    Other loans $170,070
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $37,910
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $42,095
    Non 1-4 family restructured loans & leases $34,699
    Total loans and leases (foreign) $0

    ConnectOne Bank had $6,750,099,000 of loans outstanding in 2021. $5,790,749,000 of loans were in real estate loans. $688,091,000 of loans were in development loans. $2,337,712,000 of loans were in multifamily mortgage loans. $578,726,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $373,000 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 557 $250,537 $449,797
    Nonfarm, nonresidential loans - <$100k 19 $1,120 $58,947
    Nonfarm, nonresidential loans - $100-250k 79 $10,492 $132,810
    Nonfarm, nonresidential loans - $250k-1MM 459 $238,925 $520,534
    Commercial & Industrial, US addressed loans - <$1MM 965 $183,902 $190,572
    Commercial & Industrial, US addressed loans - <$100k 402 $14,411 $35,848
    Commercial & Industrial, US addressed loans - $100-250k 233 $30,919 $132,700
    Commercial & Industrial, US addressed loans - $250k-1MM 330 $138,572 $419,915