Pacific City Bank Mortgage Rates, Fees & Info
Los Angeles, CALEI: 54930072UFREQ9ZZRG80
Tax ID: 82-0587551
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Bank Data
Review & Overview
Pacific City Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Pacific City Bank has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, San Francisco, New York, and San Jose among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)Pacific City 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
152Origination Dollar Volume (All Markets)
$78,920,000Employee count
255Top 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 |
|---|---|---|---|---|---|
| Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) | 104 | $59,170,000 | $568,942 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 21 | $7,785,000 | $370,714 | $0 | 0.00% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 11 | $5,955,000 | $541,364 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 4 | $1,690,000 | $422,500 | $0 | 0.00% |
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 3 | $1,455,000 | $485,000 | $0 | 0.00% |
| OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) | 2 | $810,000 | $405,000 | $0 | 0.00% |
| SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) | 3 | $785,000 | $261,667 | $0 | 0.00% |
| SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) | 1 | $515,000 | $515,000 | $0 | 0.00% |
| VALLEJO, CA (FHA|USDA|VA) | 1 | $415,000 | $415,000 | $0 | 0.00% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 2 | $340,000 | $170,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 152 | $78,920,000 | $519,211 | $0 | 0.00% |
For 2019, Pacific City Bank's most frequently originated type of loan was Conventional, with 152 originations.
Loan Reason
For 2019, Pacific City Bank's most frequently cited loan purpose was Home Purchase, with 95 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 152 | $78,920,000 | $519,211 | $0 | 0.00% |
For 2019, Pacific City Bank's most frequently cited loan duration was Other, with 152 originations.
Loan Sizing
2019 saw Pacific City Bank place emphasis on $200k-400k loans with 63 originations, totaling $19,835,000 in origination value.
Applicant Income
Pacific City 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 34 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 152 | $78,920,000 | $519,211 | $0 | 0.00% |
Pacific City Bank lent most frequently to those with DTI ratios of Exempt%, with 152 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications99.05%
Pacific City 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 origination68.42%
Pacific City 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 | 152 | $78,920,000 | $519,211 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 7 | $8,065,000 | $1,152,143 |
| Single Family (1-4 Units):Site-Built | 145 | $70,855,000 | $488,655 |
Complaints
| Bank Name | Product | Issue | 2019 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Pacific Home Loans, Inc | VA mortgage | Closing on a mortgage | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Pacific City Bank | 13140 Yale Avenue Irvine, CA 92620 | Full Service B&M | $112,766 |
| Pacific City Bank | 1550 Lemoine Avenue Fort Lee, NJ 7024 | Full Service Retail | $42,196 |
| Pacific City Bank | 17709 Pioneer Boulevard Artesia, CA 90701 | Full Service B&M | $85,328 |
| Pacific City Bank | 18160 Colima Road Rowland Heights, CA 91748 | Full Service B&M | $155,128 |
| Pacific City Bank | 220-34 And 220-36 Northern Blvd Bayside, NY 11361 | Full Service B&M | $31,198 |
| Pacific City Bank | 2505 Torrance Boulevard Torrance, CA 90503 | Full Service B&M | $122,919 |
| Pacific City Bank | 2730 W. Olympic Boulevard Los Angeles, CA 90006 | Full Service B&M | $144,333 |
| Pacific City Bank | 333 South Alameda Street, Suite 109 Los Angeles, CA 90013 | Full Service Retail | $44,380 |
| Pacific City Bank | 3701 Wilshire Boulevard, Suite 900 Los Angeles, CA 90010 | Full Service B&M | $390,069 |
| Pacific City Bank | 450 South Western Avenue, Suite 201 Los Angeles, CA 90020 | Full Service Retail | $42,817 |
| Pacific City Bank | 5301 Beach Boulevard Buena Park, CA 90621 | Full Service B&M | $67,658 |
| Pacific City Bank | 5400 Beach Blvd. Buena Park, CA 90621 | Full Service B&M | $77,884 |
| Pacific City Bank | 777 E. 12th Street, Suite 200 Los Angeles, CA 90021 | Full Service B&M | $131,585 |
For 2019, Pacific City Bank had 13 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $92,945 |
| Net interest income | $69,034 |
| Total noninterest income | $11,066 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $1,544 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $9,522 |
| Pre-tax net operating income | $34,400 |
| Securities gains (or losses, -) | $786 |
| Income before extraordinary items | $24,698 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $24,698 |
| Minority interest net income | $0 |
| Net income | $24,698 |
| Sale, conversion, retirement of capital stock, net | $708 |
| Net operating income | $24,077 |
Pacific City Bank's gross interest income from loans was $92,945,000.
Pacific City Bank's net interest income from loans was $69,034,000.
Pacific City Bank's fee based income from loans was $1,544,000.
Pacific City Bank's net income from loans was $24,698,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $23,911 |
| Provision for credit losses | $4,237 |
| Total noninterest expense | $41,463 |
| Salaries and employee benefits | $26,322 |
| Premises and equipment expense | $5,259 |
| Additional noninterest expense | $9,882 |
| Applicable income taxes | $10,488 |
| Net charge-offs | $3,024 |
| Cash dividends | $11,950 |
Pacific City Bank's interest expense for loans was $23,911,000.
Pacific City Bank's payroll and benefits expense were $26,322,000.
Pacific City Bank's property, plant and equipment expenses $5,259,000.
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 | 1.0% |
| 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 | $1,482,088 |
| Deposits held in domestic offices | $1,482,088 |
| Deposits by Individuals, partnerships, and corporations | $1,392,088 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $90,000 |
| 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 | $94,107 |
| Demand deposits | $91,903 |
| Nontransaction accounts | $1,387,981 |
| Money market deposit accounts (MMDAs) | $624,400 |
| Other savings deposits (excluding MMDAs) | $6,492 |
| Total time deposits | $757,089 |
| Total time and savings deposits | $1,390,185 |
| Noninterest-bearing deposits | $362,820 |
| Interest-bearing deposits | $1,119,268 |
| Retail deposits | $1,099,969 |
| IRAs and Keogh plan accounts | $6,136 |
| Brokered deposits | $92,393 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,746,302 |
| Cash & Balances due from depository institutions | $146,228 |
| Interest-bearing balances | $128,670 |
| Total securities | $117,720 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $1,438,425 |
| Loan and leases loss allowance | $14,380 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $12,390 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $6,798 |
| All other assets | $24,741 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,746,302 |
| Total Liabilities | $1,522,297 |
| Total deposits | $1,482,088 |
| Interest-bearing deposits | $1,119,268 |
| Deposits held in domestic offices | $1,482,088 |
| % insured (estimated) | $61 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $29,990 |
| Subordinated debt | $0 |
| All other liabilities | $10,219 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $1,438,425 |
| Loan and leases loss allowance | $14,380 |
| Total loans and leases (domestic) | $1,452,805 |
| All real estate loans | $1,201,855 |
| Real estate loans in domestic offices | $1,201,855 |
| Construction and development loans | $26,013 |
| Residential 1-4 family construction | $4,314 |
| Other construction, all land development and other land | $21,699 |
| Loans secured by nonfarm nonresidential properties | $874,717 |
| Nonfarm nonresidential secured by owner-occupied properties | $369,903 |
| Commercial real estate & other non-farm, non-residential | $504,814 |
| Multifamily residential real estate | $42,347 |
| 1-4 family residential loans | $258,627 |
| Farmland loans | $151 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $227,660 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $23,170 |
| Credit card loans | $0 |
| Related Plans | $1,603 |
| Consumer Auto Loans | $21,224 |
| Other loans to individuals | $343 |
| All other loans & leases | $120 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $120 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $6,486 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $701 |
| Non 1-4 family restructured loans & leases | $701 |
| Total loans and leases (foreign) | $0 |
Pacific City Bank had $1,438,425,000 of loans outstanding in 2019. $1,201,855,000 of loans were in real estate loans. $26,013,000 of loans were in development loans. $42,347,000 of loans were in multifamily mortgage loans. $258,627,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $21,224,000 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 | 457 | $138,198 | $302,403 |
| Nonfarm, nonresidential loans - <$100k | 2 | $147 | $73,500 |
| Nonfarm, nonresidential loans - $100-250k | 53 | $6,011 | $113,415 |
| Nonfarm, nonresidential loans - $250k-1MM | 402 | $132,040 | $328,458 |
| Commercial & Industrial, US addressed loans - <$1MM | 893 | $93,910 | $105,162 |
| Commercial & Industrial, US addressed loans - <$100k | 245 | $4,774 | $19,486 |
| Commercial & Industrial, US addressed loans - $100-250k | 309 | $14,373 | $46,515 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 339 | $74,763 | $220,540 |