Woori America Bank Mortgage Rates, Fees & Info

New York, NY

LEI: 5493001FKX0BM8GN6P73

Tax ID: 13-3192702

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Mortgage Data

Bank Data

Review & 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 by origination volume include: New York, Los Angeles, Washington, Philadelphia, and Atlanta among others. We have data for 19 markets. (Some data included below & more in-depth data is available with an active subscription.)

Woori America 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.

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Originations

211

Origination Dollar Volume (All Markets)

$139,485,000

Employee count

250

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
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.

Their top states include:
  • New York (FHA|USDA|VA)
  • California (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Virginia (FHA|USDA|VA)
  • Product Mix

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

    For 2021, Woori America Bank's most frequently originated type of loan was Conventional, with 211 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, Woori America Bank's most frequently cited loan purpose was Home Purchase, with 126 originations. The 2nd most popular reason was 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 2021, Woori America Bank's most frequently cited loan duration was 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
    90.00%

    Woori America Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.36%

    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