Woori America Bank Mortgage Rates, Fees & Info

New York, NY

LEI: 5493001FKX0BM8GN6P73

Tax ID: 13-3192702

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Woori America Bank is a smaller bank specializing in Home Purchase and Refi loans. Woori America Bank has a high proportion of conventional loans. Their top markets include New York, Los Angeles, Washington, Philadelphia, and Atlanta among others. Woori America Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

211

Origination Dollar Volume (All Markets)

$139,485,000

Employee count

250

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 114 $82,240,000 $721,404 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 30 $25,020,000 $834,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 14 $7,410,000 $529,286 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 20 $6,940,000 $347,000 $0 0.00%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 10 $5,520,000 $552,000 $0 0.00%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $4,405,000 $4,405,000 $0 0.00%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 6 $1,330,000 $221,667 $0 0.00%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $935,000 $311,667 $0 0.00%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $925,000 $925,000 $0 0.00%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 2 $710,000 $355,000 $0 0.00%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $625,000 $625,000 $0 0.00%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 1 $595,000 $595,000 $0 0.00%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $555,000 $555,000 $0 0.00%
Seattle-Tacoma-Bellevue, WA (FHA|USDA|VA) 2 $460,000 $230,000 $0 0.00%
GAINESVILLE, GA (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%

Woori America Bank's top markets include New York, Los Angeles, Washington, Philadelphia, and Atlanta among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 211 $139,485,000 $661,066 $0 0.00%

For the 2021 period, Woori America Bank's most frequently originated loan type of loans were Conventional, with 211 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 126 $77,450,000 $614,683 $0 0.00%
Refi 69 $52,365,000 $758,913 $0 0.00%
Cash Out Refi 11 $7,495,000 $681,364 $0 0.00%
Home Improvement 3 $1,465,000 $488,333 $0 0.00%
Other 2 $710,000 $355,000 $0 0.00%

For the 2021, Woori America Bank's most frequently cited loan purpose of loans were Home Purchase, with 126 originations. The 2nd most popular reason of loans were Refi, with 69 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 211 $139,485,000 $661,066 $0 0.00%

For the 2021, Woori America Bank's most frequently cited loan length of loans were Other, with 211 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 66 $19,770,000 $299,545 $0 0.00%
$400k-600k 47 $22,775,000 $484,574 $0 0.00%
$600k-1MM 43 $32,925,000 $765,698 $0 0.00%
$1MM+ 33 $60,885,000 $1,845,000 $0 0.00%
$100k-200k 21 $3,035,000 $144,524 $0 0.00%
$100,000 or less 1 $95,000 $95,000 $0 0.00%

2021 saw Woori America Bank place emphasis on $200k-400k loans with 66 originations, totaling $19,770,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 43 $16,455,000 $382,674 $0 0.00%
$150k-250k 41 $23,395,000 $570,610 $0 0.00%
$250k+ 39 $41,035,000 $1,052,179 $0 0.00%
$75k-100k 28 $10,570,000 $377,500 $0 0.00%
$50k-75k 19 $5,465,000 $287,632 $0 0.00%
$50k or less 12 $2,630,000 $219,167 $0 0.00%

Woori America Bank lent most frequently to those with incomes in the $100k-150k range, with 43 originations. The second most popular income band? $150k-250k, with 41 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 211 $139,485,000 $661,066 $0 0.00%

Woori America Bank lent most frequently to those with DTI ratios of Exempt%, with 211 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Asian 174 $96,500,000 $554,598 $0 0.00%
Not applicable 29 $39,935,000 $1,377,069 $0 0.00%
Korean 4 $1,370,000 $342,500 $0 0.00%
White 2 $750,000 $375,000 $0 0.00%
Chinese 1 $475,000 $475,000 $0 0.00%
Other Asian 1 $455,000 $455,000 $0 0.00%

Approval Rates

Total approvals of all applications
89.57%

Woori America Bank has an average approval rate.

Pick Rate

Approvals leading to origination
78.01%

Woori America Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 211 $139,485,000 $661,066

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
211 $139,485,000 $661,066

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Woori America Bank 10035 Baltimore National Pike Ellicott City, MD 21042 Full Service B&M $62,070
Woori America Bank 10120 Garden Grove Boulevard, Suite 151 Garden Grove, CA 92844 Full Service B&M $32,238
Woori America Bank 136-88 39th Avenue New York City, NY 11354 Full Service B&M $152,521
Woori America Bank 13830a-12 Braddock Road Centreville, VA 20121 Full Service B&M $96,311
Woori America Bank 14252 Culver Dr. Suite G Irvine, CA 92604 Full Service B&M $57,196
Woori America Bank 164-25 Northern Blvd Flushing, NY 11358 Full Service B&M $20,585
Woori America Bank 2053 Lemoine Avenue Fort Lee, NJ 7024 Full Service B&M $362,925
Woori America Bank 215-10 Northern Boulevard Bayside, NY 11361 Full Service B&M $71,709
Woori America Bank 225 Broad Avenue Palisades Park, NJ 7650 Full Service B&M $117,555
Woori America Bank 234 Closter Dock Road Closter, NJ 7624 Full Service B&M $80,015
Woori America Bank 2390 Crenshaw Blvd. Torrance, CA 90501 Full Service B&M $28,274
Woori America Bank 2405 S. Stemmons Fwy, Suite 102-105 Lewisville, TX 75067 Full Service B&M $20,175
Woori America Bank 321 Broad Avenue Ridgefield, NJ 7657 Full Service B&M $56,397
Woori America Bank 330 Fifth Avenue New York, NY 10001 Full Service B&M $332,780
Woori America Bank 3360 W. Olympic Blvd. Los Angeles, CA 90019 Full Service B&M $217,444
Woori America Bank 3500 West 6th Street, Suite 201 Los Angeles, CA 90020 Full Service B&M $26,707
Woori America Bank 4231 Markham Street, Units F&g Annandale, VA 22003 Full Service B&M $145,407
Woori America Bank 43-22 50th Street New York City, NY 11377 Full Service B&M $67,017
Woori America Bank 5731 Beach Boulevard Buena Park, CA 90621 Full Service B&M $50,463
Woori America Bank 7300 Old York Rd Elkins Park, PA 19027 Full Service B&M $109,907

For 2021, Woori America Bank had 20 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $82,278
Net interest income $77,542
Total noninterest income $5,901
Gross Fiduciary activities income $0
Service charges on deposit accounts $741
Trading account gains and fees $0
Additional Noninterest Income $5,160
Pre-tax net operating income $27,336
Securities gains (or losses, -) $-55
Income before extraordinary items $18,566
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $18,566
Minority interest net income $0
Net income $18,566
Sale, conversion, retirement of capital stock, net $100,000
Net operating income $18,609

Woori America Bank's gross interest income from loans was $82,278,000.
Woori America Bank's net interest income from loans was $77,542,000.
Woori America Bank's fee based income from loans was $741,000.
Woori America Bank's net income from loans was $18,566,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $4,736
Provision for credit losses $2,277
Total noninterest expense $53,830
Salaries and employee benefits $28,044
Premises and equipment expense $11,336
Additional noninterest expense $14,450
Applicable income taxes $8,715
Net charge-offs $41
Cash dividends $0

Woori America Bank's interest expense for loans was $4,736,000.
Woori America Bank's payroll and benefits expense were $28,044,000.
Woori America Bank's property, plant and equipment expenses $11,336,000.

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 $2,450,755
Deposits held in domestic offices $2,450,755
Deposits by Individuals, partnerships, and corporations $2,450,755
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $0
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $248,867
Demand deposits $229,398
Nontransaction accounts $2,201,888
Money market deposit accounts (MMDAs) $841,856
Other savings deposits (excluding MMDAs) $1,006,235
Total time deposits $353,797
Total time and savings deposits $2,221,357
Noninterest-bearing deposits $1,086,391
Interest-bearing deposits $1,364,364
Retail deposits $2,271,186
IRAs and Keogh plan accounts $5,521
Brokered deposits $20,000
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,969,506
Cash & Balances due from depository institutions $532,127
Interest-bearing balances $517,644
Total securities $237,317
Federal funds sold & reverse repurchase $0
Net loans and leases $2,126,144
Loan and leases loss allowance $26,786
Trading account assets $0
Bank premises and fixed assets $9,080
Other real estate owned $0
Goodwill and other intangibles $1,658
All other assets $63,180

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,969,506
Total Liabilities $2,559,371
Total deposits $2,450,755
Interest-bearing deposits $1,364,364
Deposits held in domestic offices $2,450,755
% insured (estimated) $45
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $95,638
Subordinated debt $0
All other liabilities $12,978

Issued Loan Types

Type Value (in 000's)
Net loans and leases $2,126,144
Loan and leases loss allowance $26,786
Total loans and leases (domestic) $2,152,930
All real estate loans $1,859,184
Real estate loans in domestic offices $1,859,184
Construction and development loans $35,435
Residential 1-4 family construction $0
Other construction, all land development and other land $35,435
Loans secured by nonfarm nonresidential properties $1,330,952
Nonfarm nonresidential secured by owner-occupied properties $230,707
Commercial real estate & other non-farm, non-residential $1,100,245
Multifamily residential real estate $110,980
1-4 family residential loans $381,817
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $287,525
To non-U.S. addressees $0
Loans to individuals $1,977
Credit card loans $1,977
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $0
All other loans & leases $4,245
Loans to foreign governments and official institutions $0
Other loans $87
Loans to depository institutions and acceptances of other banks $4,158
Loans not secured by real estate $42,007
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

Woori America Bank had $2,126,144,000 of loans outstanding in 2021. $1,859,184,000 of loans were in real estate loans. $35,435,000 of loans were in development loans. $110,980,000 of loans were in multifamily mortgage loans. $381,817,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,977,000 of loans were in credit card loans. $0 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 326 $130,499 $400,304
Nonfarm, nonresidential loans - <$100k 10 $444 $44,400
Nonfarm, nonresidential loans - $100-250k 55 $6,675 $121,364
Nonfarm, nonresidential loans - $250k-1MM 261 $123,380 $472,720
Commercial & Industrial, US addressed loans - <$1MM 2,459 $65,358 $26,579
Commercial & Industrial, US addressed loans - <$100k 2,159 $21,540 $9,977
Commercial & Industrial, US addressed loans - $100-250k 179 $22,067 $123,279
Commercial & Industrial, US addressed loans - $250k-1MM 121 $21,751 $179,760