Trustco Bank Mortgage Lending & HMDA Data, 2024
In 2024, Trustco Bank of Albany, NY reported 4,516 mortgage applications totaling $1.0 billion, down 21% from 2023. The average application was for $222,867, and applicants reported an average income of $157,398. 54% of its applications resulted in an originated loan and 26% were denied. Its largest markets were Albany-Schenectady-Troy, NY (1,504), Orlando-Kissimmee-Sanford, FL (903) and New York-Jersey City-White Plains, NY-NJ (507) (applications in parentheses).
| Mortgage Company & Address | Trustco Bank 6 Metro Park Road Albany, NY 12205 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 |
| Total Number of Mortgage Applications | 4,516 |
| Total Mortgage Loan Application Amount | $1,006,470,000 |
| Average Mortgage Loan Application Amount | $222,867 |
| Highest Mortgage Loan Application Amount | $3,005,000 |
| Average Applicant Income | $157,398 |
| Highest Applicant Income | $6,455,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Trustco Bank filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Albany-Schenectady-Troy, NY | 1,504 | $ 287,980,000 | $ 191,476 | $ 138,000 |
| Orlando-Kissimmee-Sanford, FL | 903 | $ 182,335,000 | $ 201,921 | $ 152,000 |
| New York-Jersey City-White Plains, NY-NJ | 507 | $ 138,015,000 | $ 272,218 | $ 230,102 |
| Tampa, FL | 320 | $ 119,380,000 | $ 373,062 | $ 165,000 |
| North Port-Sarasota-Bradenton, FL | 237 | $ 55,395,000 | $ 233,734 | $ 162,000 |
| Deltona-Daytona Beach-Ormond Beach, FL | 185 | $ 35,315,000 | $ 190,891 | $ 136,000 |
| Outside any metro area | 142 | $ 21,760,000 | $ 153,239 | $ 133,281 |
| Glens Falls, NY | 131 | $ 21,195,000 | $ 161,793 | $ 127,000 |
| Kiryas Joel-Poughkeepsie-Newburgh, NY | 105 | $ 26,475,000 | $ 252,142 | $ 168,000 |
| West Palm Beach-Boca Raton-Delray Beach, FL | 93 | $ 28,475,000 | $ 306,182 | $ 190,000 |
| Lakeland-Winter Haven, FL | 73 | $ 8,705,000 | $ 119,246 | $ 87,000 |
| Punta Gorda, FL | 67 | $ 16,155,000 | $ 241,119 | $ 158,000 |
| Palm Bay-Melbourne-Titusville, FL | 58 | $ 12,580,000 | $ 216,896 | $ 117,000 |
| Port St. Lucie, FL | 29 | $ 6,465,000 | $ 222,931 | $ 143,000 |
| Kingston, NY | 22 | $ 5,940,000 | $ 270,000 | $ 160,000 |
| Cape Coral-Fort Myers, FL | 21 | $ 7,695,000 | $ 366,428 | $ 291,000 |
| Newark, NJ-PA | 18 | $ 6,960,000 | $ 386,666 | $ 218,000 |
| Pittsfield, MA | 18 | $ 2,980,000 | $ 165,555 | $ 116,000 |
| Jacksonville, FL | 17 | $ 6,965,000 | $ 409,705 | $ 191,000 |
| Sebastian-Vero Beach, FL | 13 | $ 2,815,000 | $ 216,538 | $ 146,000 |
| Wildwood-The Villages, FL | 11 | $ 2,505,000 | $ 227,727 | $ 109,000 |
| Ocala, FL | 10 | $ 2,010,000 | $ 201,000 | $ 109,000 |
| St. Petersburg-Clearwater-Largo, FL | 10 | $ 1,450,000 | $ 145,000 | $ 93,000 |
| Naples-Immokalee-Marco Island, FL | 8 | $ 2,390,000 | $ 298,750 | $ 1,172,000 |
| Fort Lauderdale-Pompano Beach-Deerfield Beach, FL | 4 | $ 1,120,000 | $ 280,000 | $ 110,000 |
| Homosassa Springs, FL | 2 | $ 590,000 | $ 295,000 | $ 147,000 |
| Utica-Rome, NY | 2 | $ 520,000 | $ 260,000 | $ 198,000 |
| Binghamton, NY | 1 | $ 215,000 | $ 215,000 | $ 49,000 |
| Buffalo-Cheektowaga-Niagara Falls, NY | 1 | $ 235,000 | $ 235,000 | $ 186,000 |
| Charleston-North Charleston, SC | 1 | $ 1,205,000 | $ 1,205,000 | $ 360,000 |
| Lakewood-New Brunswick, NJ | 1 | $ 305,000 | $ 305,000 | $ 134,000 |
| Springfield, MA | 1 | $ 35,000 | $ 35,000 | $ 35,000 |
| Tallahassee, FL | 1 | $ 305,000 | $ 305,000 | $ 99,000 |
Mortgage Loan Application Detail Totals for Trustco Bank in 2024
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Other Purpose | 1,711 | $226,935,000 | $132,000 | $1,485,000 | $140,000 | $3,698,000 |
| Home Purchase | 1,370 | $542,350,000 | $395,000 | $3,005,000 | $185,000 | $3,508,000 |
| Home Improvement | 579 | $68,335,000 | $118,000 | $1,505,000 | $146,000 | $1,484,000 |
| Cash-out Refinancing | 576 | $109,580,000 | $190,000 | $2,615,000 | $158,000 | $6,455,000 |
| Refinancing | 280 | $59,270,000 | $211,000 | $1,025,000 | $151,000 | $648,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 2,578 | $514,240,000 | $199,000 | $3,005,000 | $155,000 | $6,455,000 |
| Asian | 707 | $240,215,000 | $339,000 | $1,005,000 | $181,000 | $3,480,000 |
| Not Provided | 522 | $119,270,000 | $228,000 | $1,505,000 | $176,000 | $2,770,000 |
| Hispanic | 506 | $84,750,000 | $167,000 | $1,305,000 | $120,000 | $1,400,000 |
| Black or African American | 125 | $22,195,000 | $177,000 | $1,265,000 | $117,000 | $420,000 |
| Not applicable | 40 | $19,060,000 | $476,000 | $2,615,000 | $0 | $0 |
| American Indian or Alaskan Native | 21 | $2,995,000 | $142,000 | $475,000 | $90,000 | $183,000 |
| Native Hawaiian or Other Pacific Islander | 17 | $3,745,000 | $220,000 | $1,035,000 | $391,000 | $962,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 4,512 | $1,005,140,000 | $222,000 | $3,005,000 | $158,000 | $6,455,000 |
| FHA-insured (Federal Housing Administration) | 3 | $985,000 | $328,000 | $555,000 | $172,000 | $232,000 |
| VA-guaranteed (Veterans Administration) | 1 | $345,000 | $345,000 | $345,000 | $116,000 | $116,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 2,453 | $547,425,000 | $223,000 | $3,005,000 | $168,000 | $2,770,000 |
| Application Denied By Financial Institution | 1,160 | $188,780,000 | $162,000 | $1,505,000 | $116,000 | $6,455,000 |
| Application Withdrawn By Applicant | 625 | $192,385,000 | $307,000 | $1,485,000 | $186,000 | $3,480,000 |
| File Closed For Incompleteness | 176 | $47,080,000 | $267,000 | $1,125,000 | $176,000 | $1,905,000 |
| Application Approved But Not Accepted | 102 | $30,800,000 | $301,000 | $2,255,000 | $185,000 | $3,508,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 3,356 | $817,690,000 | $243,000 | $3,005,000 | $172,000 | $3,508,000 |
| Debt-To-Income Ratio | 622 | $105,530,000 | $169,000 | $1,265,000 | $80,000 | $292,000 |
| Credit History | 351 | $47,975,000 | $136,000 | $1,505,000 | $156,000 | $6,455,000 |
| Collateral | 114 | $20,860,000 | $182,000 | $1,105,000 | $162,000 | $688,000 |
| Other | 30 | $7,280,000 | $242,000 | $945,000 | $169,000 | $725,000 |
| Unverifiable Information | 22 | $4,510,000 | $205,000 | $535,000 | $184,000 | $856,000 |
| Employment History | 21 | $2,625,000 | $125,000 | $275,000 | $90,000 | $295,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Credit Application Incomplete | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Trustco Bank's 2024 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Trustco Bank's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in New York, download the full spreadsheet
with aggregated HMDA statistics today.
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