Aquesta Bank Mortgage Rates, Fees & Info
Cornelius, NCLEI: 5493006GBLIRNKHYD764
Tax ID: 20-5036036
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Mortgage Data
Bank Data
Review & Overview
Aquesta Bank is a smaller bank specializing in Home Purchase and Refi loans. Aquesta Bank has a high proportion of conventional loans.Aquesta 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
34Origination Dollar Volume (All Markets)
$19,450,000Employee count
79Top Markets
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| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Outside of Metro Areas | 34 | $19,450,000 | $572,059 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 34 | $19,450,000 | $572,059 | $0 | 0.00% |
For 2018, Aquesta Bank's most frequently originated type of loan was Conventional, with 34 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 21 | $12,515,000 | $595,952 | $0 | 0.00% |
| Refi | 13 | $6,935,000 | $533,462 | $0 | 0.00% |
For 2018, Aquesta Bank's most frequently cited loan purpose was Home Purchase, with 21 originations. The 2nd most popular reason was Refi, with 13 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 34 | $19,450,000 | $572,059 | $0 | 0.00% |
For 2018, Aquesta Bank's most frequently cited loan duration was Other, with 34 originations.
Loan Sizing
2018 saw Aquesta Bank place emphasis on $400k-600k loans with 10 originations, totaling $5,220,000 in origination value.
Applicant Income
Aquesta Bank lent most frequently to those with incomes in the $250k+ range, with 15 originations. The second most popular income band? $150k-250k, with 4 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 34 | $19,450,000 | $572,059 | $0 | 0.00% |
Aquesta Bank lent most frequently to those with DTI ratios of Exempt%, with 34 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications90.91%
Aquesta Bank has an average approval rate.
Pick Rate
Approvals leading to origination85.29%
Aquesta Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 34 | $19,450,000 | $572,059 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Manufactured | 2 | $1,630,000 | $815,000 |
| Single Family (1-4 Units):Site-Built | 32 | $17,820,000 | $556,875 |
Complaints
| Bank Name | Product | Issue | 2018 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| ASSOCIATED BANC-CORP | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 9.1% |
| ASSOCIATED BANC-CORP | Conventional home mortgage | Trouble during payment process | 7 | 63.6% |
| ASSOCIATED BANC-CORP | Home equity loan or line of credit (HELOC) | Applying for a mortgage or refinancing an existing mortgage | 1 | 9.1% |
| ASSOCIATED BANC-CORP | Home equity loan or line of credit (HELOC) | Trouble during payment process | 1 | 9.1% |
| ASSOCIATED BANC-CORP | Other type of mortgage | Trouble during payment process | 1 | 9.1% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Aquesta Bank | 1078 Brawley School Road Mooresville, NC 28117 | Full Service B&M | $48,570 |
| Aquesta Bank | 19510 Jetton Road Cornelius, NC 28031 | Full Service B&M | $175,051 |
| Aquesta Bank | 4519 Sharon Road Charlotte, NC 28211 | Full Service B&M | $11,447 |
| Aquesta Bank | 568 Jetton Street, Suite 100 Davidson, NC 28036 | Full Service B&M | $35,103 |
| Aquesta Bank | 837 Williamson Road Mooresville, NC 28117 | Full Service B&M | $17,679 |
| Aquesta Bank | 901 Military Cutoff Road Wilmington, NC 28405 | Full Service B&M | $7,343 |
| Aquesta Bank | 9906 Knockando Lane Huntersville, NC 28078 | Full Service B&M | $20,994 |
For 2018, Aquesta Bank had 7 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $19,254 |
| Net interest income | $14,671 |
| Total noninterest income | $2,754 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $879 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $1,875 |
| Pre-tax net operating income | $4,175 |
| Securities gains (or losses, -) | $-110 |
| Income before extraordinary items | $3,230 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,230 |
| Minority interest net income | $0 |
| Net income | $3,230 |
| Sale, conversion, retirement of capital stock, net | $114 |
| Net operating income | $3,316 |
Aquesta Bank's gross interest income from loans was $19,254,000.
Aquesta Bank's net interest income from loans was $14,671,000.
Aquesta Bank's fee based income from loans was $879,000.
Aquesta Bank's net income from loans was $3,230,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $4,583 |
| Provision for credit losses | $956 |
| Total noninterest expense | $12,294 |
| Salaries and employee benefits | $8,184 |
| Premises and equipment expense | $1,149 |
| Additional noninterest expense | $2,961 |
| Applicable income taxes | $835 |
| Net charge-offs | $280 |
| Cash dividends | $0 |
Aquesta Bank's interest expense for loans was $4,583,000.
Aquesta Bank's payroll and benefits expense were $8,184,000.
Aquesta Bank's property, plant and equipment expenses $1,149,000.
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 | $320,204 |
| Deposits held in domestic offices | $320,204 |
| Deposits by Individuals, partnerships, and corporations | $294,013 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $18,854 |
| Deposits by Commercial banks and other depository institutions in U.S. | $7,337 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $126,572 |
| Demand deposits | $99,135 |
| Nontransaction accounts | $193,632 |
| Money market deposit accounts (MMDAs) | $136,849 |
| Other savings deposits (excluding MMDAs) | $7,006 |
| Total time deposits | $49,777 |
| Total time and savings deposits | $221,069 |
| Noninterest-bearing deposits | $98,602 |
| Interest-bearing deposits | $221,602 |
| Retail deposits | $311,777 |
| IRAs and Keogh plan accounts | $3,327 |
| Brokered deposits | $3,500 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $459,985 |
| Cash & Balances due from depository institutions | $11,800 |
| Interest-bearing balances | $10,530 |
| Total securities | $51,609 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $364,393 |
| Loan and leases loss allowance | $3,493 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $15,960 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $33 |
| All other assets | $16,190 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $459,985 |
| Total Liabilities | $424,606 |
| Total deposits | $320,204 |
| Interest-bearing deposits | $221,602 |
| Deposits held in domestic offices | $320,204 |
| % insured (estimated) | $64 |
| Federal funds purchased and repurchase agreements | $243 |
| Trading liabilities | $0 |
| Other borrowed funds | $101,400 |
| Subordinated debt | $0 |
| All other liabilities | $2,759 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $364,393 |
| Loan and leases loss allowance | $3,493 |
| Total loans and leases (domestic) | $367,886 |
| All real estate loans | $322,513 |
| Real estate loans in domestic offices | $322,513 |
| Construction and development loans | $46,435 |
| Residential 1-4 family construction | $13,289 |
| Other construction, all land development and other land | $33,146 |
| Loans secured by nonfarm nonresidential properties | $179,147 |
| Nonfarm nonresidential secured by owner-occupied properties | $97,721 |
| Commercial real estate & other non-farm, non-residential | $81,426 |
| Multifamily residential real estate | $14,158 |
| 1-4 family residential loans | $82,773 |
| Farmland loans | $0 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $43,748 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $533 |
| Credit card loans | $0 |
| Related Plans | $244 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $289 |
| All other loans & leases | $1,174 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $1,174 |
| 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 | $147 |
| Non 1-4 family restructured loans & leases | $147 |
| Total loans and leases (foreign) | $0 |
Aquesta Bank had $364,393,000 of loans outstanding in 2018. $322,513,000 of loans were in real estate loans. $46,435,000 of loans were in development loans. $14,158,000 of loans were in multifamily mortgage loans. $82,773,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $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 | 161 | $54,671 | $339,571 |
| Nonfarm, nonresidential loans - <$100k | 7 | $342 | $48,857 |
| Nonfarm, nonresidential loans - $100-250k | 38 | $5,374 | $141,421 |
| Nonfarm, nonresidential loans - $250k-1MM | 116 | $48,955 | $422,026 |
| Commercial & Industrial, US addressed loans - <$1MM | 123 | $19,306 | $156,959 |
| Commercial & Industrial, US addressed loans - <$100k | 30 | $1,049 | $34,967 |
| Commercial & Industrial, US addressed loans - $100-250k | 31 | $2,399 | $77,387 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 62 | $15,858 | $255,774 |