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, Salisbury, Virginia Beach, and Richmond among others. We have data for 5 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

    102

    Origination Dollar Volume (All Markets)

    $48,590,000

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 67 $28,995,000 $432,761 $0 0.00%
    Outside of Metro Areas 32 $15,660,000 $489,375 $0 0.00%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $3,395,000 $3,395,000 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    Virginia Partners Bank's top markets include Washington, Salisbury, Virginia Beach, and Richmond among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 102 $48,590,000 $476,373 $0 0.00%

    For 2021, Virginia Partners Bank's most frequently originated type of loan was Conventional, with 102 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 88 $44,230,000 $502,614 $0 0.00%
    Refi 11 $3,185,000 $289,545 $0 0.00%
    Other 3 $1,175,000 $391,667 $0 0.00%

    For 2021, Virginia Partners Bank's most frequently cited loan purpose was Home Purchase, with 88 originations. The 2nd most popular reason was Refi, with 11 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 102 $48,590,000 $476,373 $0 0.00%

    For 2021, Virginia Partners Bank's most frequently cited loan duration was Other, with 102 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 34 $10,310,000 $303,235 $0 0.00%
    $400k-600k 21 $9,935,000 $473,095 $0 0.00%
    $100k-200k 20 $2,940,000 $147,000 $0 0.00%
    $600k-1MM 13 $9,755,000 $750,385 $0 0.00%
    $1MM+ 10 $15,340,000 $1,534,000 $0 0.00%
    $100,000 or less 4 $310,000 $77,500 $0 0.00%

    2021 saw Virginia Partners Bank place emphasis on $200k-400k loans with 34 originations, totaling $10,310,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 14 $6,390,000 $456,429 $0 0.00%
    $100k-150k 13 $5,855,000 $450,385 $0 0.00%
    $250k+ 12 $9,660,000 $805,000 $0 0.00%
    $75k-100k 8 $2,650,000 $331,250 $0 0.00%
    $50k-75k 4 $1,660,000 $415,000 $0 0.00%
    $50k or less 1 $205,000 $205,000 $0 0.00%

    Virginia Partners Bank lent most frequently to those with incomes in the $150k-250k range, with 14 originations. The second most popular income band? $100k-150k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 102 $48,590,000 $476,373 $0 0.00%

    Virginia Partners Bank lent most frequently to those with DTI ratios of Exempt%, with 102 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 48 $24,810,000 $516,875 $0 0.00%
    Not applicable 50 $22,170,000 $443,400 $0 0.00%
    Black 3 $1,025,000 $341,667 $0 0.00%
    American Indian 1 $585,000 $585,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    95.50%

    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
    96.08%

    Virginia Partners Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 102 $48,590,000 $476,373

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    102 $48,590,000 $476,373

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    VIRGINIA HOUSING DEVELOPMENT AUTHORITY Conventional home mortgage Struggling to pay mortgage 1 33.3%
    VIRGINIA HOUSING DEVELOPMENT AUTHORITY FHA mortgage Trouble during payment process 2 66.7%

    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 $77,196
    Virginia Partners Bank 410 William Street Fredericksburg, VA 22401 Full Service B&M $241,858
    Virginia Partners Bank 4210 Plank Rd Fredericksburg, VA 22407 Full Service B&M $76,629
    Virginia Partners Bank 7415 Laughlin Blvd Spotsylvania Courthouse, VA 22553 Full Service B&M $113,491

    For 2021, Virginia Partners Bank had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,615
    Net interest income $19,065
    Total noninterest income $4,572
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $85
    Trading account gains and fees $0
    Additional Noninterest Income $4,487
    Pre-tax net operating income $4,275
    Securities gains (or losses, -) $25
    Income before extraordinary items $3,565
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,565
    Minority interest net income $484
    Net income $3,081
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,544

    Virginia Partners Bank's gross interest income from loans was $22,615,000.
    Virginia Partners Bank's net interest income from loans was $19,065,000.
    Virginia Partners Bank's fee based income from loans was $85,000.
    Virginia Partners Bank's net income from loans was $3,081,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,550
    Provision for credit losses $1,723
    Total noninterest expense $17,639
    Salaries and employee benefits $10,522
    Premises and equipment expense $1,238
    Additional noninterest expense $5,879
    Applicable income taxes $735
    Net charge-offs $75
    Cash dividends $1,180

    Virginia Partners Bank's interest expense for loans was $3,550,000.
    Virginia Partners Bank's payroll and benefits expense were $10,522,000.
    Virginia Partners Bank's property, plant and equipment expenses $1,238,000.

    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 $539,553
    Deposits held in domestic offices $539,553
    Deposits by Individuals, partnerships, and corporations $517,431
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $3,096
    Deposits by Commercial banks and other depository institutions in U.S. $19,026
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $216,427
    Demand deposits $168,641
    Nontransaction accounts $323,126
    Money market deposit accounts (MMDAs) $147,982
    Other savings deposits (excluding MMDAs) $31,863
    Total time deposits $143,281
    Total time and savings deposits $370,912
    Noninterest-bearing deposits $168,641
    Interest-bearing deposits $370,912
    Retail deposits $467,334
    IRAs and Keogh plan accounts $11,143
    Brokered deposits $28,401
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $624,283
    Cash & Balances due from depository institutions $108,302
    Interest-bearing balances $105,370
    Total securities $63,497
    Federal funds sold & reverse repurchase $9,981
    Net loans and leases $412,653
    Loan and leases loss allowance $3,348
    Trading account assets $0
    Bank premises and fixed assets $8,740
    Other real estate owned $0
    Goodwill and other intangibles $6,009
    All other assets $15,101

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $624,283
    Total Liabilities $566,370
    Total deposits $539,553
    Interest-bearing deposits $370,912
    Deposits held in domestic offices $539,553
    % insured (estimated) $63
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $22,079
    Subordinated debt $0
    All other liabilities $4,738

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $412,653
    Loan and leases loss allowance $3,348
    Total loans and leases (domestic) $416,001
    All real estate loans $346,416
    Real estate loans in domestic offices $346,416
    Construction and development loans $35,224
    Residential 1-4 family construction $19,391
    Other construction, all land development and other land $15,833
    Loans secured by nonfarm nonresidential properties $217,444
    Nonfarm nonresidential secured by owner-occupied properties $108,569
    Commercial real estate & other non-farm, non-residential $108,875
    Multifamily residential real estate $6,580
    1-4 family residential loans $87,168
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $67,417
    To non-U.S. addressees $0
    Loans to individuals $2,168
    Credit card loans $0
    Related Plans $831
    Consumer Auto Loans $257
    Other loans to individuals $1,080
    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 $412,653,000 of loans outstanding in 2021. $346,416,000 of loans were in real estate loans. $35,224,000 of loans were in development loans. $6,580,000 of loans were in multifamily mortgage loans. $87,168,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $257,000 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 179 $66,515 $371,592
    Nonfarm, nonresidential loans - <$100k 2 $138 $69,000
    Nonfarm, nonresidential loans - $100-250k 53 $7,018 $132,415
    Nonfarm, nonresidential loans - $250k-1MM 124 $59,359 $478,702
    Commercial & Industrial, US addressed loans - <$1MM 362 $38,343 $105,920
    Commercial & Industrial, US addressed loans - <$100k 175 $4,461 $25,491
    Commercial & Industrial, US addressed loans - $100-250k 99 $8,469 $85,545
    Commercial & Industrial, US addressed loans - $250k-1MM 88 $25,413 $288,784