Pacific City Bank Mortgage Rates, Fees & Info

Los Angeles, CA

LEI: 54930072UFREQ9ZZRG80

Tax ID: 82-0587551

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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

    Pacific City Bank is a smaller bank specializing in Home Purchase and Refi loans. Pacific City Bank has a high proportion of conventional loans. Their top markets by origination volume include: Los Angeles, Riverside, New York, San Francisco, and Las Vegas 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.

    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

    221

    Origination Dollar Volume (All Markets)

    $146,865,000

    Employee count

    247

    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
    Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 158 $116,070,000 $734,620 $0 0.00%
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 44 $20,000,000 $454,545 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 7 $4,445,000 $635,000 $0 0.00%
    San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 5 $2,815,000 $563,000 $0 0.00%
    LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 1 $825,000 $825,000 $0 0.00%
    SANTA MARIA-SANTA BARBARA, CA (FHA|USDA|VA) 1 $655,000 $655,000 $0 0.00%
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 1 $605,000 $605,000 $0 0.00%
    SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 2 $560,000 $280,000 $0 0.00%
    OXNARD-THOUSAND OAKS-VENTURA, CA (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
    BAKERSFIELD, CA (FHA|USDA|VA) 1 $365,000 $365,000 $0 0.00%
    Pacific City Bank's top markets include Los Angeles, Riverside, New York, San Francisco, and Las Vegas among others.

    Their top states include:
  • California (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Nevada (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 221 $146,865,000 $664,548 $0 0.00%

    For 2021, Pacific City Bank's most frequently originated type of loan was Conventional, with 221 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 155 $98,805,000 $637,452 $0 0.00%
    Refi 52 $40,660,000 $781,923 $0 0.00%
    Cash Out Refi 9 $4,685,000 $520,556 $0 0.00%
    Other 4 $1,720,000 $430,000 $0 0.00%
    Home Improvement 1 $995,000 $995,000 $0 0.00%

    For 2021, Pacific City Bank's most frequently cited loan purpose was Home Purchase, with 155 originations. The 2nd most popular reason was Refi, with 52 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 221 $146,865,000 $664,548 $0 0.00%

    For 2021, Pacific City Bank's most frequently cited loan duration was Other, with 221 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 78 $38,720,000 $496,410 $0 0.00%
    $600k-1MM 59 $44,585,000 $755,678 $0 0.00%
    $200k-400k 57 $18,245,000 $320,088 $0 0.00%
    $1MM+ 20 $44,130,000 $2,206,500 $0 0.00%
    $100k-200k 7 $1,185,000 $169,286 $0 0.00%

    2021 saw Pacific City Bank place emphasis on $400k-600k loans with 78 originations, totaling $38,720,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 62 $31,990,000 $515,968 $0 0.00%
    $150k-250k 49 $31,975,000 $652,551 $0 0.00%
    $75k-100k 48 $18,760,000 $390,833 $0 0.00%
    $250k+ 21 $21,145,000 $1,006,905 $0 0.00%
    $50k-75k 17 $4,205,000 $247,353 $0 0.00%
    $50k or less 3 $635,000 $211,667 $0 0.00%

    Pacific City Bank lent most frequently to those with incomes in the $100k-150k range, with 62 originations. The second most popular income band? $150k-250k, with 49 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 221 $146,865,000 $664,548 $0 0.00%

    Pacific City Bank lent most frequently to those with DTI ratios of Exempt%, with 221 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Asian 178 $95,080,000 $534,157 $0 0.00%
    Not applicable 21 $38,155,000 $1,816,905 $0 0.00%
    Not provided 16 $9,290,000 $580,625 $0 0.00%
    White 6 $4,340,000 $723,333 $0 0.00%

    Approval Rates

    Total approvals of all applications
    98.92%

    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 origination
    78.28%

    Pacific City Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 221 $146,865,000 $664,548

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    221 $146,865,000 $664,548

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    PACIFIC WESTERN BANK Home equity loan or line of credit (HELOC) Trouble during payment process 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 $127,880
    Pacific City Bank 17709 Pioneer Boulevard Artesia, CA 90701 Full Service B&M $107,158
    Pacific City Bank 18160 Colima Road Rowland Heights, CA 91748 Full Service B&M $181,173
    Pacific City Bank 220-34 And 220-36 Northern Blvd Bayside, NY 11361 Full Service B&M $47,896
    Pacific City Bank 2505 Torrance Boulevard Torrance, CA 90503 Full Service B&M $142,789
    Pacific City Bank 2730 W. Olympic Boulevard Los Angeles, CA 90006 Full Service B&M $183,912
    Pacific City Bank 333 South Alameda Street, Suite 109 Los Angeles, CA 90013 Full Service Retail $62,607
    Pacific City Bank 3701 Wilshire Boulevard, Suite 900 Los Angeles, CA 90010 Full Service B&M $493,860
    Pacific City Bank 45-47 Sylvan Avenue Englewood Cliffs, NJ 7632 Full Service B&M $32,354
    Pacific City Bank 450 South Western Avenue, Suite 201 Los Angeles, CA 90020 Full Service Retail $57,069
    Pacific City Bank 5301 Beach Boulevard Buena Park, CA 90621 Full Service B&M $76,393
    Pacific City Bank 5400 Beach Blvd. Buena Park, CA 90621 Full Service B&M $99,405
    Pacific City Bank 777 E. 12th Street, Suite 200 Los Angeles, CA 90021 Full Service B&M $189,714

    For 2021, Pacific City Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $81,472
    Net interest income $77,137
    Total noninterest income $18,435
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,195
    Trading account gains and fees $0
    Additional Noninterest Income $17,240
    Pre-tax net operating income $57,712
    Securities gains (or losses, -) $0
    Income before extraordinary items $40,633
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $40,633
    Minority interest net income $0
    Net income $40,633
    Sale, conversion, retirement of capital stock, net $453
    Net operating income $40,633

    Pacific City Bank's gross interest income from loans was $81,472,000.
    Pacific City Bank's net interest income from loans was $77,137,000.
    Pacific City Bank's fee based income from loans was $1,195,000.
    Pacific City Bank's net income from loans was $40,633,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,335
    Provision for credit losses $-4,596
    Total noninterest expense $42,456
    Salaries and employee benefits $28,102
    Premises and equipment expense $5,376
    Additional noninterest expense $8,978
    Applicable income taxes $17,079
    Net charge-offs $-466
    Cash dividends $18,376

    Pacific City Bank's interest expense for loans was $4,335,000.
    Pacific City Bank's payroll and benefits expense were $28,102,000.
    Pacific City Bank's property, plant and equipment expenses $5,376,000.

    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 $1,872,586
    Deposits held in domestic offices $1,872,586
    Deposits by Individuals, partnerships, and corporations $1,772,586
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $100,000
    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 $856,013
    Demand deposits $835,815
    Nontransaction accounts $1,016,573
    Money market deposit accounts (MMDAs) $386,061
    Other savings deposits (excluding MMDAs) $16,299
    Total time deposits $614,212
    Total time and savings deposits $1,036,771
    Noninterest-bearing deposits $835,835
    Interest-bearing deposits $1,036,751
    Retail deposits $1,515,328
    IRAs and Keogh plan accounts $4,725
    Brokered deposits $85,001
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,149,703
    Cash & Balances due from depository institutions $203,285
    Interest-bearing balances $188,313
    Total securities $123,198
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,746,850
    Loan and leases loss allowance $22,381
    Trading account assets $0
    Bank premises and fixed assets $9,774
    Other real estate owned $0
    Goodwill and other intangibles $7,269
    All other assets $59,327

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,149,703
    Total Liabilities $1,898,923
    Total deposits $1,872,586
    Interest-bearing deposits $1,036,751
    Deposits held in domestic offices $1,872,586
    % insured (estimated) $53
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $10,000
    Subordinated debt $0
    All other liabilities $16,337

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,746,850
    Loan and leases loss allowance $22,381
    Total loans and leases (domestic) $1,769,231
    All real estate loans $1,497,664
    Real estate loans in domestic offices $1,497,664
    Construction and development loans $15,725
    Residential 1-4 family construction $0
    Other construction, all land development and other land $15,725
    Loans secured by nonfarm nonresidential properties $1,150,529
    Nonfarm nonresidential secured by owner-occupied properties $538,969
    Commercial real estate & other non-farm, non-residential $611,560
    Multifamily residential real estate $97,803
    1-4 family residential loans $233,241
    Farmland loans $366
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $249,945
    To non-U.S. addressees $0
    Loans to individuals $21,583
    Credit card loans $0
    Related Plans $2,804
    Consumer Auto Loans $18,611
    Other loans to individuals $168
    All other loans & leases $39
    Loans to foreign governments and official institutions $0
    Other loans $39
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $8,134
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $576
    Non 1-4 family restructured loans & leases $576
    Total loans and leases (foreign) $0

    Pacific City Bank had $1,746,850,000 of loans outstanding in 2021. $1,497,664,000 of loans were in real estate loans. $15,725,000 of loans were in development loans. $97,803,000 of loans were in multifamily mortgage loans. $233,241,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $18,611,000 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 476 $154,742 $325,088
    Nonfarm, nonresidential loans - <$100k 1 $42 $42,000
    Nonfarm, nonresidential loans - $100-250k 40 $4,225 $105,625
    Nonfarm, nonresidential loans - $250k-1MM 435 $150,475 $345,920
    Commercial & Industrial, US addressed loans - <$1MM 990 $116,202 $117,376
    Commercial & Industrial, US addressed loans - <$100k 321 $8,973 $27,953
    Commercial & Industrial, US addressed loans - $100-250k 305 $22,704 $74,439
    Commercial & Industrial, US addressed loans - $250k-1MM 364 $84,525 $232,212