Aquesta Bank Mortgage Rates, Fees & Info

Cornelius, NC

LEI: 5493006GBLIRNKHYD764

Tax ID: 20-5036036

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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

    Aquesta Bank is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Aquesta Bank has a high proportion of conventional loans. Their top markets by origination volume include: Charlotte, Charleston, and Winston among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    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.

    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.

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    Originations

    12

    Origination Dollar Volume (All Markets)

    $8,600,000

    Employee count

    95

    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
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 9 $5,195,000 $577,222 $0 0.00%
    CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $3,340,000 $1,670,000 $0 0.00%
    WINSTON-SALEM, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
    Aquesta Bank's top markets include Charlotte, Charleston, and Winston among others.

    Their top states include:
  • North Carolina (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 12 $8,600,000 $716,667 $0 0.00%

    For 2019, Aquesta Bank's most frequently originated type of loan was Conventional, with 12 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 5 $4,085,000 $817,000 $0 0.00%
    Refi 4 $2,710,000 $677,500 $0 0.00%
    Cash Out Refi 3 $1,805,000 $601,667 $0 0.00%

    For 2019, Aquesta Bank's most frequently cited loan purpose was Home Purchase, with 5 originations. The 2nd most popular reason was Refi, with 4 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 12 $8,600,000 $716,667 $0 0.00%

    For 2019, Aquesta Bank's most frequently cited loan duration was Other, with 12 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 4 $6,140,000 $1,535,000 $0 0.00%
    $100k-200k 3 $425,000 $141,667 $0 0.00%
    $200k-400k 2 $580,000 $290,000 $0 0.00%
    $100,000 or less 1 $65,000 $65,000 $0 0.00%
    $400k-600k 1 $555,000 $555,000 $0 0.00%
    $600k-1MM 1 $835,000 $835,000 $0 0.00%

    2019 saw Aquesta Bank place emphasis on $1MM+ loans with 4 originations, totaling $6,140,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 4 $2,890,000 $722,500 $0 0.00%
    $150k-250k 3 $2,435,000 $811,667 $0 0.00%
    $100k-150k 1 $375,000 $375,000 $0 0.00%

    Aquesta Bank lent most frequently to those with incomes in the $250k+ range, with 4 originations. The second most popular income band? $150k-250k, with 3 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 12 $8,600,000 $716,667 $0 0.00%

    Aquesta Bank lent most frequently to those with DTI ratios of Exempt%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 8 $5,700,000 $712,500 $0 0.00%
    Not applicable 4 $2,900,000 $725,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.74%

    Aquesta Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    66.67%

    Aquesta Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 12 $8,600,000 $716,667

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 12 $8,600,000 $716,667

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    ASSOCIATED BANC-CORP Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 11.8%
    ASSOCIATED BANC-CORP Conventional home mortgage Closing on a mortgage 1 5.9%
    ASSOCIATED BANC-CORP Conventional home mortgage Trouble during payment process 7 41.2%
    ASSOCIATED BANC-CORP Home equity loan or line of credit (HELOC) Trouble during payment process 1 5.9%
    ASSOCIATED BANC-CORP Other type of mortgage Closing on a mortgage 2 11.8%
    ASSOCIATED BANC-CORP Other type of mortgage Trouble during payment process 4 23.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Aquesta Bank 1078 Brawley School Road Mooresville, NC 28117 Full Service B&M $70,253
    Aquesta Bank 19510 Jetton Road Cornelius, NC 28031 Full Service B&M $192,858
    Aquesta Bank 4519 Sharon Road Charlotte, NC 28211 Full Service B&M $8,135
    Aquesta Bank 568 Jetton Street, Suite 100 Davidson, NC 28036 Full Service B&M $37,139
    Aquesta Bank 837 Williamson Road Mooresville, NC 28117 Full Service B&M $22,582
    Aquesta Bank 901 Military Cutoff Road Wilmington, NC 28405 Full Service B&M $17,559
    Aquesta Bank 9906 Knockando Lane Huntersville, NC 28078 Full Service B&M $26,889

    For 2019, Aquesta Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,562
    Net interest income $16,604
    Total noninterest income $2,924
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $271
    Trading account gains and fees $0
    Additional Noninterest Income $2,653
    Pre-tax net operating income $5,540
    Securities gains (or losses, -) $-50
    Income before extraordinary items $4,436
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,436
    Minority interest net income $0
    Net income $4,436
    Sale, conversion, retirement of capital stock, net $138
    Net operating income $4,476

    Aquesta Bank's gross interest income from loans was $22,562,000.
    Aquesta Bank's net interest income from loans was $16,604,000.
    Aquesta Bank's fee based income from loans was $271,000.
    Aquesta Bank's net income from loans was $4,436,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,958
    Provision for credit losses $340
    Total noninterest expense $13,648
    Salaries and employee benefits $8,444
    Premises and equipment expense $1,377
    Additional noninterest expense $3,827
    Applicable income taxes $1,054
    Net charge-offs $-35
    Cash dividends $0

    Aquesta Bank's interest expense for loans was $5,958,000.
    Aquesta Bank's payroll and benefits expense were $8,444,000.
    Aquesta Bank's property, plant and equipment expenses $1,377,000.

    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 $421,084
    Deposits held in domestic offices $421,084
    Deposits by Individuals, partnerships, and corporations $397,522
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $16,696
    Deposits by Commercial banks and other depository institutions in U.S. $6,866
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $194,271
    Demand deposits $138,597
    Nontransaction accounts $226,813
    Money market deposit accounts (MMDAs) $174,592
    Other savings deposits (excluding MMDAs) $7,458
    Total time deposits $44,763
    Total time and savings deposits $282,487
    Noninterest-bearing deposits $137,914
    Interest-bearing deposits $283,170
    Retail deposits $413,061
    IRAs and Keogh plan accounts $2,633
    Brokered deposits $1,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $523,606
    Cash & Balances due from depository institutions $17,728
    Interest-bearing balances $7,586
    Total securities $56,737
    Federal funds sold & reverse repurchase $1,729
    Net loans and leases $411,952
    Loan and leases loss allowance $3,868
    Trading account assets $0
    Bank premises and fixed assets $16,939
    Other real estate owned $0
    Goodwill and other intangibles $28
    All other assets $18,493

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $523,606
    Total Liabilities $470,460
    Total deposits $421,084
    Interest-bearing deposits $283,170
    Deposits held in domestic offices $421,084
    % insured (estimated) $54
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $46,540
    Subordinated debt $0
    All other liabilities $2,836

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $411,952
    Loan and leases loss allowance $3,868
    Total loans and leases (domestic) $415,820
    All real estate loans $362,712
    Real estate loans in domestic offices $362,712
    Construction and development loans $62,592
    Residential 1-4 family construction $22,890
    Other construction, all land development and other land $39,702
    Loans secured by nonfarm nonresidential properties $215,492
    Nonfarm nonresidential secured by owner-occupied properties $131,332
    Commercial real estate & other non-farm, non-residential $84,160
    Multifamily residential real estate $15,894
    1-4 family residential loans $68,734
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $52,274
    To non-U.S. addressees $0
    Loans to individuals $188
    Credit card loans $0
    Related Plans $8
    Consumer Auto Loans $0
    Other loans to individuals $180
    All other loans & leases $645
    Loans to foreign governments and official institutions $0
    Other loans $645
    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 $84
    Non 1-4 family restructured loans & leases $84
    Total loans and leases (foreign) $0

    Aquesta Bank had $411,952,000 of loans outstanding in 2019. $362,712,000 of loans were in real estate loans. $62,592,000 of loans were in development loans. $15,894,000 of loans were in multifamily mortgage loans. $68,734,000 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 153 $56,084 $366,562
    Nonfarm, nonresidential loans - <$100k 5 $203 $40,600
    Nonfarm, nonresidential loans - $100-250k 36 $5,021 $139,472
    Nonfarm, nonresidential loans - $250k-1MM 112 $50,860 $454,107
    Commercial & Industrial, US addressed loans - <$1MM 134 $29,002 $216,433
    Commercial & Industrial, US addressed loans - <$100k 30 $951 $31,700
    Commercial & Industrial, US addressed loans - $100-250k 33 $3,596 $108,970
    Commercial & Industrial, US addressed loans - $250k-1MM 71 $24,455 $344,437