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 loans. Virginia Partners Bank has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Baltimore, and California among others. We have data for 4 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 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    Originations

    113

    Origination Dollar Volume (All Markets)

    $32,535,000

    Employee count

    58

    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) 85 $23,705,000 $278,882 $0 0.00%
    Outside of Metro Areas 24 $7,120,000 $296,667 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $1,575,000 $525,000 $0 0.00%
    CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%
    Virginia Partners Bank's top markets include Washington, Baltimore, and California 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 113 $32,535,000 $287,920 $0 0.00%

    For 2020, Virginia Partners Bank's most frequently originated type of loan was Conventional, with 113 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 87 $27,145,000 $312,011 $0 0.00%
    Refi 23 $5,265,000 $228,913 $0 0.00%
    Home Improvement 2 $90,000 $45,000 $0 0.00%
    Other 1 $35,000 $35,000 $0 0.00%

    For 2020, Virginia Partners Bank's most frequently cited loan purpose was Home Purchase, with 87 originations. The 2nd most popular reason was Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 113 $32,535,000 $287,920 $0 0.00%

    For 2020, Virginia Partners Bank's most frequently cited loan duration was Other, with 113 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 43 $12,485,000 $290,349 $0 0.00%
    $100k-200k 37 $5,185,000 $140,135 $0 0.00%
    $400k-600k 15 $6,835,000 $455,667 $0 0.00%
    $100,000 or less 10 $640,000 $64,000 $0 0.00%
    $600k-1MM 7 $5,435,000 $776,429 $0 0.00%
    $1MM+ 1 $1,955,000 $1,955,000 $0 0.00%

    2020 saw Virginia Partners Bank place emphasis on $200k-400k loans with 43 originations, totaling $12,485,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $4,865,000 $324,333 $0 0.00%
    $250k+ 12 $6,400,000 $533,333 $0 0.00%
    $50k-75k 12 $3,360,000 $280,000 $0 0.00%
    $150k-250k 11 $4,835,000 $439,545 $0 0.00%
    $75k-100k 10 $2,700,000 $270,000 $0 0.00%
    $50k or less 4 $470,000 $117,500 $0 0.00%

    Virginia Partners Bank lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $250k+, with 12 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 113 $32,535,000 $287,920 $0 0.00%

    Virginia Partners Bank lent most frequently to those with DTI ratios of Exempt%, with 113 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 61 $22,345,000 $366,311 $0 0.00%
    Not applicable 48 $9,640,000 $200,833 $0 0.00%
    Black 3 $445,000 $148,333 $0 0.00%
    Not provided 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.09%

    Virginia Partners 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
    92.04%

    Virginia Partners Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 113 $32,535,000 $287,920

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $2,265,000 $755,000
    Single Family (1-4 Units):Manufactured 2 $180,000 $90,000
    Single Family (1-4 Units):Site-Built 108 $30,090,000 $278,611

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    VIRGINIA HOUSING DEVELOPMENT AUTHORITY FHA mortgage Struggling to pay mortgage 1 100.0%

    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 $58,353
    Virginia Partners Bank 2521 Cowan Boulevard Fredericksburg, VA 22401 Full Service B&M $65,872
    Virginia Partners Bank 410 William Street Fredericksburg, VA 22401 Full Service B&M $223,640
    Virginia Partners Bank 4210 Plank Rd Fredericksburg, VA 22407 Full Service B&M $67,870

    For 2020, Virginia Partners Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,822
    Net interest income $16,984
    Total noninterest income $4,739
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $85
    Trading account gains and fees $0
    Additional Noninterest Income $4,654
    Pre-tax net operating income $4,822
    Securities gains (or losses, -) $414
    Income before extraordinary items $4,196
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,196
    Minority interest net income $653
    Net income $3,543
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,864

    Virginia Partners Bank's gross interest income from loans was $21,822,000.
    Virginia Partners Bank's net interest income from loans was $16,984,000.
    Virginia Partners Bank's fee based income from loans was $85,000.
    Virginia Partners Bank's net income from loans was $3,543,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,838
    Provision for credit losses $1,494
    Total noninterest expense $15,407
    Salaries and employee benefits $8,529
    Premises and equipment expense $1,028
    Additional noninterest expense $5,850
    Applicable income taxes $1,040
    Net charge-offs $35
    Cash dividends $1,067

    Virginia Partners Bank's interest expense for loans was $4,838,000.
    Virginia Partners Bank's payroll and benefits expense were $8,529,000.
    Virginia Partners Bank's property, plant and equipment expenses $1,028,000.

    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 $442,663
    Deposits held in domestic offices $442,663
    Deposits by Individuals, partnerships, and corporations $415,497
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,210
    Deposits by Commercial banks and other depository institutions in U.S. $23,956
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $136,219
    Demand deposits $104,869
    Nontransaction accounts $306,444
    Money market deposit accounts (MMDAs) $116,896
    Other savings deposits (excluding MMDAs) $26,328
    Total time deposits $163,220
    Total time and savings deposits $337,794
    Noninterest-bearing deposits $104,869
    Interest-bearing deposits $337,794
    Retail deposits $333,536
    IRAs and Keogh plan accounts $11,582
    Brokered deposits $28,401
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $567,392
    Cash & Balances due from depository institutions $55,692
    Interest-bearing balances $53,995
    Total securities $60,280
    Federal funds sold & reverse repurchase $31,915
    Net loans and leases $390,847
    Loan and leases loss allowance $1,700
    Trading account assets $0
    Bank premises and fixed assets $5,492
    Other real estate owned $0
    Goodwill and other intangibles $6,454
    All other assets $16,712

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $567,392
    Total Liabilities $510,162
    Total deposits $442,663
    Interest-bearing deposits $337,794
    Deposits held in domestic offices $442,663
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $63,791
    Subordinated debt $0
    All other liabilities $3,708

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $390,847
    Loan and leases loss allowance $1,700
    Total loans and leases (domestic) $392,547
    All real estate loans $305,628
    Real estate loans in domestic offices $305,628
    Construction and development loans $19,009
    Residential 1-4 family construction $10,654
    Other construction, all land development and other land $8,355
    Loans secured by nonfarm nonresidential properties $175,920
    Nonfarm nonresidential secured by owner-occupied properties $84,381
    Commercial real estate & other non-farm, non-residential $91,539
    Multifamily residential real estate $9,435
    1-4 family residential loans $101,264
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $84,536
    To non-U.S. addressees $0
    Loans to individuals $2,383
    Credit card loans $0
    Related Plans $1,089
    Consumer Auto Loans $674
    Other loans to individuals $620
    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 $390,847,000 of loans outstanding in 2020. $305,628,000 of loans were in real estate loans. $19,009,000 of loans were in development loans. $9,435,000 of loans were in multifamily mortgage loans. $101,264,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $674,000 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 147 $47,666 $324,259
    Nonfarm, nonresidential loans - <$100k 9 $200 $22,222
    Nonfarm, nonresidential loans - $100-250k 41 $5,603 $136,659
    Nonfarm, nonresidential loans - $250k-1MM 97 $41,863 $431,577
    Commercial & Industrial, US addressed loans - <$1MM 740 $60,222 $81,381
    Commercial & Industrial, US addressed loans - <$100k 499 $13,131 $26,315
    Commercial & Industrial, US addressed loans - $100-250k 138 $15,560 $112,754
    Commercial & Industrial, US addressed loans - $250k-1MM 103 $31,531 $306,126