Virginia Partners Bank Mortgage Rates, Fees & Info

Richmond, VA

LEI: 2549004R5IWT90NBTB98

Tax ID: 26-0473514

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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

    Virginia Partners Bank is a smaller bank specializing in Home Purchase and Refi loans. Virginia Partners Bank has a high proportion of conventional loans. Their top markets by origination volume include: Washington, California, Baltimore, Richmond, and Charlottesville among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Virginia Partners 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

    137

    Origination Dollar Volume (All Markets)

    $35,475,000

    Employee count

    53

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 106 $27,310,000 $257,642 $0 0.00%
    Outside of Metro Areas 18 $3,840,000 $213,333 $0 0.00%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 7 $2,705,000 $386,429 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $1,025,000 $341,667 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $385,000 $385,000 $0 0.00%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 2 $210,000 $105,000 $0 0.00%
    Virginia Partners Bank's top markets include Washington, California, Baltimore, Richmond, and Charlottesville among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 137 $35,475,000 $258,942 $0 0.00%

    For 2018, Virginia Partners Bank's most frequently originated type of loan was Conventional, with 137 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 96 $27,520,000 $286,667 $0 0.00%
    Refi 37 $7,775,000 $210,135 $0 0.00%
    Home Improvement 2 $130,000 $65,000 $0 0.00%
    Other 2 $50,000 $25,000 $0 0.00%

    For 2018, Virginia Partners Bank's most frequently cited loan purpose was Home Purchase, with 96 originations. The 2nd most popular reason was Refi, with 37 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 137 $35,475,000 $258,942 $0 0.00%

    For 2018, Virginia Partners Bank's most frequently cited loan duration was Other, with 137 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 54 $7,970,000 $147,593 $0 0.00%
    $200k-400k 49 $13,425,000 $273,980 $0 0.00%
    $100,000 or less 14 $900,000 $64,286 $0 0.00%
    $400k-600k 11 $5,355,000 $486,818 $0 0.00%
    $600k-1MM 6 $4,100,000 $683,333 $0 0.00%
    $1MM+ 3 $3,725,000 $1,241,667 $0 0.00%

    2018 saw Virginia Partners Bank place emphasis on $100k-200k loans with 54 originations, totaling $7,970,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 26 $6,460,000 $248,462 $0 0.00%
    $150k-250k 24 $8,400,000 $350,000 $0 0.00%
    $250k+ 21 $6,205,000 $295,476 $0 0.00%
    $75k-100k 8 $1,280,000 $160,000 $0 0.00%
    $50k-75k 6 $900,000 $150,000 $0 0.00%
    $50k or less 3 $545,000 $181,667 $0 0.00%

    Virginia Partners Bank lent most frequently to those with incomes in the $100k-150k range, with 26 originations. The second most popular income band? $150k-250k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 137 $35,475,000 $258,942 $0 0.00%

    Virginia Partners Bank lent most frequently to those with DTI ratios of Exempt%, with 137 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 84 $23,310,000 $277,500 $0 0.00%
    Not applicable 49 $11,685,000 $238,469 $0 0.00%
    Black 3 $455,000 $151,667 $0 0.00%
    Filipino 1 $25,000 $25,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.77%

    Virginia Partners Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.59%

    Virginia Partners Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 137 $35,475,000 $258,942

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $1,640,000 $820,000
    Single Family (1-4 Units):Site-Built 135 $33,835,000 $250,630

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    VIRGINIA HOUSING DEVELOPMENT AUTHORITY Conventional home mortgage Struggling to pay mortgage 1 25.0%
    VIRGINIA HOUSING DEVELOPMENT AUTHORITY Conventional home mortgage Trouble during payment process 1 25.0%
    VIRGINIA HOUSING DEVELOPMENT AUTHORITY FHA mortgage Incorrect information on your report 1 25.0%
    VIRGINIA HOUSING DEVELOPMENT AUTHORITY FHA mortgage Trouble during payment process 1 25.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Virginia Partners Bank 115 E. Charles Street La Plata, MD 20646 Full Service B&M $52,483
    Virginia Partners Bank 2521 Cowan Boulevard Fredericksburg, VA 22401 Full Service B&M $60,320
    Virginia Partners Bank 410 William Street Fredericksburg, VA 22401 Full Service B&M $190,747
    Virginia Partners Bank 4210 Plank Rd Fredericksburg, VA 22407 Full Service B&M $46,019

    For 2018, Virginia Partners Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,645
    Net interest income $13,724
    Total noninterest income $1,788
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $243
    Trading account gains and fees $0
    Additional Noninterest Income $1,545
    Pre-tax net operating income $3,238
    Securities gains (or losses, -) $-21
    Income before extraordinary items $2,618
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,618
    Minority interest net income $-34
    Net income $2,652
    Sale, conversion, retirement of capital stock, net $5,882
    Net operating income $2,635

    Virginia Partners Bank's gross interest income from loans was $17,645,000.
    Virginia Partners Bank's net interest income from loans was $13,724,000.
    Virginia Partners Bank's fee based income from loans was $243,000.
    Virginia Partners Bank's net income from loans was $2,652,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,921
    Provision for credit losses $409
    Total noninterest expense $11,865
    Salaries and employee benefits $6,426
    Premises and equipment expense $1,001
    Additional noninterest expense $4,438
    Applicable income taxes $599
    Net charge-offs $3
    Cash dividends $0

    Virginia Partners Bank's interest expense for loans was $3,921,000.
    Virginia Partners Bank's payroll and benefits expense were $6,426,000.
    Virginia Partners Bank's property, plant and equipment expenses $1,001,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    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 0.0%
    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 $330,740
    Deposits held in domestic offices $330,740
    Deposits by Individuals, partnerships, and corporations $301,582
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,956
    Deposits by Commercial banks and other depository institutions in U.S. $27,202
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $74,937
    Demand deposits $56,852
    Nontransaction accounts $255,803
    Money market deposit accounts (MMDAs) $82,238
    Other savings deposits (excluding MMDAs) $16,992
    Total time deposits $156,573
    Total time and savings deposits $273,888
    Noninterest-bearing deposits $56,852
    Interest-bearing deposits $273,888
    Retail deposits $252,740
    IRAs and Keogh plan accounts $14,385
    Brokered deposits $21,475
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $420,672
    Cash & Balances due from depository institutions $6,274
    Interest-bearing balances $4,405
    Total securities $73,767
    Federal funds sold & reverse repurchase $1,475
    Net loans and leases $321,293
    Loan and leases loss allowance $4,010
    Trading account assets $0
    Bank premises and fixed assets $3,808
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $14,055

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $420,672
    Total Liabilities $376,397
    Total deposits $330,740
    Interest-bearing deposits $273,888
    Deposits held in domestic offices $330,740
    % insured (estimated) $71
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $44,757
    Subordinated debt $0
    All other liabilities $900

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $321,293
    Loan and leases loss allowance $4,010
    Total loans and leases (domestic) $325,303
    All real estate loans $287,077
    Real estate loans in domestic offices $287,077
    Construction and development loans $19,338
    Residential 1-4 family construction $11,704
    Other construction, all land development and other land $7,634
    Loans secured by nonfarm nonresidential properties $145,878
    Nonfarm nonresidential secured by owner-occupied properties $63,876
    Commercial real estate & other non-farm, non-residential $82,002
    Multifamily residential real estate $10,541
    1-4 family residential loans $111,020
    Farmland loans $300
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $35,197
    To non-U.S. addressees $0
    Loans to individuals $3,182
    Credit card loans $0
    Related Plans $1,361
    Consumer Auto Loans $881
    Other loans to individuals $940
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Virginia Partners Bank had $321,293,000 of loans outstanding in 2018. $287,077,000 of loans were in real estate loans. $19,338,000 of loans were in development loans. $10,541,000 of loans were in multifamily mortgage loans. $111,020,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $881,000 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 170 $57,485 $338,147
    Nonfarm, nonresidential loans - <$100k 25 $1,067 $42,680
    Nonfarm, nonresidential loans - $100-250k 55 $9,756 $177,382
    Nonfarm, nonresidential loans - $250k-1MM 90 $46,662 $518,467
    Commercial & Industrial, US addressed loans - <$1MM 405 $31,209 $77,059
    Commercial & Industrial, US addressed loans - <$100k 317 $9,687 $30,558
    Commercial & Industrial, US addressed loans - $100-250k 56 $8,994 $160,607
    Commercial & Industrial, US addressed loans - $250k-1MM 32 $12,528 $391,500
    Farmland loans - <$1MM 2 $300 $150,000
    Farmland loans - <$100k 1 $98 $98,000
    Farmland loans - $100-250k 1 $202 $202,000