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, Richmond, Baltimore, California, and Winchester 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

    104

    Origination Dollar Volume (All Markets)

    $30,510,000

    Employee count

    57

    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) 78 $23,220,000 $297,692 $0 0.00%
    Outside of Metro Areas 18 $5,470,000 $303,889 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 3 $915,000 $305,000 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 2 $430,000 $215,000 $0 0.00%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 2 $370,000 $185,000 $0 0.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    Virginia Partners Bank's top markets include Washington, Richmond, Baltimore, California, and Winchester among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 104 $30,510,000 $293,365 $0 0.00%

    For 2019, Virginia Partners Bank's most frequently originated type of loan was Conventional, with 104 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 82 $23,480,000 $286,341 $0 0.00%
    Refi 20 $6,600,000 $330,000 $0 0.00%
    Home Improvement 1 $405,000 $405,000 $0 0.00%
    Other 1 $25,000 $25,000 $0 0.00%

    For 2019, Virginia Partners Bank's most frequently cited loan purpose was Home Purchase, with 82 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 104 $30,510,000 $293,365 $0 0.00%

    For 2019, Virginia Partners Bank's most frequently cited loan duration was Other, with 104 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 40 $11,000,000 $275,000 $0 0.00%
    $100k-200k 29 $4,325,000 $149,138 $0 0.00%
    $400k-600k 16 $7,680,000 $480,000 $0 0.00%
    $100,000 or less 11 $685,000 $62,273 $0 0.00%
    $600k-1MM 7 $5,415,000 $773,571 $0 0.00%
    $1MM+ 1 $1,405,000 $1,405,000 $0 0.00%

    2019 saw Virginia Partners Bank place emphasis on $200k-400k loans with 40 originations, totaling $11,000,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 16 $5,450,000 $340,625 $0 0.00%
    $150k-250k 14 $5,950,000 $425,000 $0 0.00%
    $50k-75k 10 $2,460,000 $246,000 $0 0.00%
    $250k+ 9 $4,255,000 $472,778 $0 0.00%
    $50k or less 7 $1,005,000 $143,571 $0 0.00%
    $75k-100k 6 $1,160,000 $193,333 $0 0.00%

    Virginia Partners Bank lent most frequently to those with incomes in the $100k-150k range, with 16 originations. The second most popular income band? $150k-250k, with 14 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 104 $30,510,000 $293,365 $0 0.00%

    Virginia Partners Bank lent most frequently to those with DTI ratios of Exempt%, with 104 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 60 $18,910,000 $315,167 $0 0.00%
    Not applicable 41 $9,825,000 $239,634 $0 0.00%
    Asian 1 $965,000 $965,000 $0 0.00%
    Black 1 $405,000 $405,000 $0 0.00%
    Not provided 1 $405,000 $405,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.31%

    Virginia Partners Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.62%

    Virginia Partners Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 104 $30,510,000 $293,365

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $965,000 $965,000
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 102 $29,520,000 $289,412

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    VIRGINIA HOUSING DEVELOPMENT AUTHORITY Conventional home mortgage Struggling to pay mortgage 1 50.0%
    VIRGINIA HOUSING DEVELOPMENT AUTHORITY Other type of mortgage Trouble during payment process 1 50.0%

    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 $52,470
    Virginia Partners Bank 2521 Cowan Boulevard Fredericksburg, VA 22401 Full Service B&M $45,181
    Virginia Partners Bank 410 William Street Fredericksburg, VA 22401 Full Service B&M $195,891
    Virginia Partners Bank 4210 Plank Rd Fredericksburg, VA 22407 Full Service B&M $40,942

    For 2019, Virginia Partners Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,643
    Net interest income $2,007
    Total noninterest income $394
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $17
    Trading account gains and fees $0
    Additional Noninterest Income $377
    Pre-tax net operating income $570
    Securities gains (or losses, -) $10
    Income before extraordinary items $462
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $462
    Minority interest net income $10
    Net income $452
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $454

    Virginia Partners Bank's gross interest income from loans was $2,643,000.
    Virginia Partners Bank's net interest income from loans was $2,007,000.
    Virginia Partners Bank's fee based income from loans was $17,000.
    Virginia Partners Bank's net income from loans was $452,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $636
    Provision for credit losses $241
    Total noninterest expense $1,590
    Salaries and employee benefits $881
    Premises and equipment expense $95
    Additional noninterest expense $614
    Applicable income taxes $118
    Net charge-offs $0
    Cash dividends $183

    Virginia Partners Bank's interest expense for loans was $636,000.
    Virginia Partners Bank's payroll and benefits expense were $881,000.
    Virginia Partners Bank's property, plant and equipment expenses $95,000.

    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 $347,268
    Deposits held in domestic offices $347,268
    Deposits by Individuals, partnerships, and corporations $315,110
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $1,683
    Deposits by Commercial banks and other depository institutions in U.S. $30,475
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $81,697
    Demand deposits $58,533
    Nontransaction accounts $265,571
    Money market deposit accounts (MMDAs) $79,385
    Other savings deposits (excluding MMDAs) $19,894
    Total time deposits $166,292
    Total time and savings deposits $288,735
    Noninterest-bearing deposits $58,533
    Interest-bearing deposits $288,735
    Retail deposits $252,075
    IRAs and Keogh plan accounts $13,169
    Brokered deposits $27,473
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $455,306
    Cash & Balances due from depository institutions $7,335
    Interest-bearing balances $5,462
    Total securities $49,663
    Federal funds sold & reverse repurchase $3,705
    Net loans and leases $366,833
    Loan and leases loss allowance $241
    Trading account assets $0
    Bank premises and fixed assets $4,968
    Other real estate owned $0
    Goodwill and other intangibles $6,760
    All other assets $16,042

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $455,306
    Total Liabilities $401,481
    Total deposits $347,268
    Interest-bearing deposits $288,735
    Deposits held in domestic offices $347,268
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $50,941
    Subordinated debt $0
    All other liabilities $3,272

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $366,833
    Loan and leases loss allowance $241
    Total loans and leases (domestic) $367,074
    All real estate loans $315,504
    Real estate loans in domestic offices $315,504
    Construction and development loans $28,370
    Residential 1-4 family construction $16,799
    Other construction, all land development and other land $11,571
    Loans secured by nonfarm nonresidential properties $169,490
    Nonfarm nonresidential secured by owner-occupied properties $72,041
    Commercial real estate & other non-farm, non-residential $97,449
    Multifamily residential real estate $9,635
    1-4 family residential loans $107,534
    Farmland loans $475
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $48,306
    To non-U.S. addressees $0
    Loans to individuals $3,264
    Credit card loans $0
    Related Plans $1,352
    Consumer Auto Loans $975
    Other loans to individuals $937
    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 $366,833,000 of loans outstanding in 2019. $315,504,000 of loans were in real estate loans. $28,370,000 of loans were in development loans. $9,635,000 of loans were in multifamily mortgage loans. $107,534,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $975,000 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 186 $53,801 $289,253
    Nonfarm, nonresidential loans - <$100k 12 $599 $49,917
    Nonfarm, nonresidential loans - $100-250k 57 $8,107 $142,228
    Nonfarm, nonresidential loans - $250k-1MM 117 $45,095 $385,427
    Commercial & Industrial, US addressed loans - <$1MM 439 $38,278 $87,194
    Commercial & Industrial, US addressed loans - <$100k 279 $8,057 $28,878
    Commercial & Industrial, US addressed loans - $100-250k 92 $9,262 $100,674
    Commercial & Industrial, US addressed loans - $250k-1MM 68 $20,959 $308,221
    Farmland loans - <$1MM 3 $475 $158,333
    Farmland loans - <$100k 2 $184 $92,000
    Farmland loans - $250k-1MM 1 $291 $291,000