Fulton Savings Bank Mortgage Rates, Fees & Info

Fulton, NY

LEI: 95JW06YV3JUTCH0IJV88

Tax ID: 15-0313410

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Mortgage Data

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

    Fulton Savings Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Fulton Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Syracuse, Auburn, Utica, Watertown, and Cortland among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Fulton Savings 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.

    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

    266

    Origination Dollar Volume (All Markets)

    $34,490,000

    Employee count

    71

    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
    SYRACUSE, NY (FHA|USDA|VA) 237 $30,655,000 $129,346 $0 0.00%
    Auburn, NY (FHA|USDA|VA) 22 $2,660,000 $120,909 $0 0.00%
    UTICA-ROME, NY (FHA|USDA|VA) 3 $565,000 $188,333 $0 0.00%
    WATERTOWN-FORT DRUM, NY (FHA|USDA|VA) 2 $440,000 $220,000 $0 0.00%
    Cortland, NY (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    ROCHESTER, NY (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Fulton Savings Bank's top markets include Syracuse, Auburn, Utica, Watertown, and Cortland among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 266 $34,490,000 $129,662 $0 0.00%

    For 2020, Fulton Savings Bank's most frequently originated type of loan was Conventional, with 266 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 144 $19,250,000 $133,681 $0 0.00%
    Cash Out Refi 97 $13,735,000 $141,598 $0 0.00%
    Other 19 $1,125,000 $59,211 $0 0.00%
    Home Improvement 6 $380,000 $63,333 $0 0.00%

    For 2020, Fulton Savings Bank's most frequently cited loan purpose was Home Purchase, with 144 originations. The 2nd most popular reason was Cash Out Refi, with 97 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 266 $34,490,000 $129,662 $0 0.00%

    For 2020, Fulton Savings Bank's most frequently cited loan duration was Other, with 266 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 121 $17,595,000 $145,413 $0 0.00%
    $100,000 or less 106 $6,990,000 $65,943 $0 0.00%
    $200k-400k 38 $9,400,000 $247,368 $0 0.00%
    $400k-600k 1 $505,000 $505,000 $0 0.00%

    2020 saw Fulton Savings Bank place emphasis on $100k-200k loans with 121 originations, totaling $17,595,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 73 $8,405,000 $115,137 $0 0.00%
    $100k-150k 61 $9,225,000 $151,230 $0 0.00%
    $50k or less 52 $3,930,000 $75,577 $0 0.00%
    $75k-100k 45 $5,605,000 $124,556 $0 0.00%
    $150k-250k 29 $5,965,000 $205,690 $0 0.00%
    $250k+ 4 $860,000 $215,000 $0 0.00%

    Fulton Savings Bank lent most frequently to those with incomes in the $50k-75k range, with 73 originations. The second most popular income band? $100k-150k, with 61 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 266 $34,490,000 $129,662 $0 0.00%

    Fulton Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 266 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 248 $32,340,000 $130,403 $0 0.00%
    Not provided 7 $1,005,000 $143,571 $0 0.00%
    Black 6 $480,000 $80,000 $0 0.00%
    Not applicable 1 $335,000 $335,000 $0 0.00%
    Asian 1 $145,000 $145,000 $0 0.00%
    Korean 1 $105,000 $105,000 $0 0.00%
    American Indian 2 $80,000 $40,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.61%

    Fulton Savings 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
    91.35%

    Fulton Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 266 $34,490,000 $129,662

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $490,000 $122,500
    Single Family (1-4 Units):Manufactured 6 $430,000 $71,667
    Single Family (1-4 Units):Site-Built 256 $33,570,000 $131,133

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    FULTON FINANCIAL CORPORATION Conventional home mortgage Trouble during payment process 4 57.1%
    FULTON FINANCIAL CORPORATION FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 14.3%
    FULTON FINANCIAL CORPORATION Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 2 28.6%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Fulton Savings Bank 45 Redfield Street Constantia, NY 13044 Full Service B&M $24,057
    Fulton Savings Bank 5501 Bartell Road Brewerton, NY 13029 Full Service B&M $21,959
    Fulton Savings Bank 75 South First Street Fulton, NY 13069 Full Service B&M $104,221
    Fulton Savings Bank Cr 57 Phoenix, NY 13135 Full Service B&M $38,386
    Fulton Savings Bank Route 49 And Green Acres Drive Central Square, NY 13036 Full Service B&M $54,710
    Fulton Savings Bank State Fair And Village Blvds. South Van Buren Township, NY 13027 Full Service B&M $35,824

    For 2020, Fulton Savings Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,079
    Net interest income $12,750
    Total noninterest income $5,440
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,394
    Trading account gains and fees $0
    Additional Noninterest Income $4,046
    Pre-tax net operating income $4,157
    Securities gains (or losses, -) $-96
    Income before extraordinary items $4,043
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,043
    Minority interest net income $0
    Net income $4,043
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,139

    Fulton Savings Bank's gross interest income from loans was $13,079,000.
    Fulton Savings Bank's net interest income from loans was $12,750,000.
    Fulton Savings Bank's fee based income from loans was $1,394,000.
    Fulton Savings Bank's net income from loans was $4,043,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $329
    Provision for credit losses $452
    Total noninterest expense $13,581
    Salaries and employee benefits $6,178
    Premises and equipment expense $1,095
    Additional noninterest expense $6,308
    Applicable income taxes $18
    Net charge-offs $126
    Cash dividends $0

    Fulton Savings Bank's interest expense for loans was $329,000.
    Fulton Savings Bank's payroll and benefits expense were $6,178,000.
    Fulton Savings Bank's property, plant and equipment expenses $1,095,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 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 $292,143
    Deposits held in domestic offices $292,143
    Deposits by Individuals, partnerships, and corporations $292,143
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $125,355
    Demand deposits $82,306
    Nontransaction accounts $166,788
    Money market deposit accounts (MMDAs) $7,484
    Other savings deposits (excluding MMDAs) $129,304
    Total time deposits $29,999
    Total time and savings deposits $209,837
    Noninterest-bearing deposits $82,306
    Interest-bearing deposits $209,837
    Retail deposits $289,802
    IRAs and Keogh plan accounts $10,888
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $424,614
    Cash & Balances due from depository institutions $65,507
    Interest-bearing balances $59,096
    Total securities $135,693
    Federal funds sold & reverse repurchase $1,070
    Net loans and leases $173,396
    Loan and leases loss allowance $699
    Trading account assets $27,284
    Bank premises and fixed assets $800
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $20,864

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $424,614
    Total Liabilities $307,208
    Total deposits $292,143
    Interest-bearing deposits $209,837
    Deposits held in domestic offices $292,143
    % insured (estimated) $95
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $15,065

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $173,396
    Loan and leases loss allowance $699
    Total loans and leases (domestic) $174,095
    All real estate loans $169,215
    Real estate loans in domestic offices $169,215
    Construction and development loans $151
    Residential 1-4 family construction $0
    Other construction, all land development and other land $151
    Loans secured by nonfarm nonresidential properties $13,211
    Nonfarm nonresidential secured by owner-occupied properties $194
    Commercial real estate & other non-farm, non-residential $13,017
    Multifamily residential real estate $796
    1-4 family residential loans $155,057
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,538
    To non-U.S. addressees $0
    Loans to individuals $3,256
    Credit card loans $0
    Related Plans $251
    Consumer Auto Loans $410
    Other loans to individuals $2,595
    All other loans & leases $86
    Loans to foreign governments and official institutions $0
    Other loans $86
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $148
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Fulton Savings Bank had $173,396,000 of loans outstanding in 2020. $169,215,000 of loans were in real estate loans. $151,000 of loans were in development loans. $796,000 of loans were in multifamily mortgage loans. $155,057,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $410,000 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 90 $10,627 $118,078
    Nonfarm, nonresidential loans - <$100k 37 $1,509 $40,784
    Nonfarm, nonresidential loans - $100-250k 32 $3,502 $109,438
    Nonfarm, nonresidential loans - $250k-1MM 21 $5,616 $267,429
    Commercial & Industrial, US addressed loans - <$1MM 39 $1,538 $39,436
    Commercial & Industrial, US addressed loans - <$100k 28 $175 $6,250
    Commercial & Industrial, US addressed loans - $100-250k 9 $663 $73,667
    Commercial & Industrial, US addressed loans - $250k-1MM 2 $700 $350,000