Fortis Private Bank Mortgage Rates, Fees & Info

Denver, CO

LEI: 549300J3KQJDSZQIMM59

Tax ID: 84-1389363

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Fortis Private Bank is a smaller bank specializing in Home Purchase loans. Fortis Private Bank has a high proportion of conventional loans. Their top markets include Heber, Denver, Provo, Greeley, and Salt Lake City among others. Fortis Private Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

151

Origination Dollar Volume (All Markets)

$265,345,000

Employee count

69

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Heber, UT (FHA|USDA|VA) 38 $87,530,000 $2,303,421 $0 0.00%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 46 $54,510,000 $1,185,000 $0 0.00%
PROVO-OREM, UT (FHA|USDA|VA) 27 $43,425,000 $1,608,333 $0 0.00%
GREELEY, CO (FHA|USDA|VA) 2 $23,840,000 $11,920,000 $0 0.00%
SALT LAKE CITY, UT (FHA|USDA|VA) 15 $18,845,000 $1,256,333 $0 0.00%
OGDEN-CLEARFIELD, UT (FHA|USDA|VA) 10 $11,800,000 $1,180,000 $0 0.00%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 2 $7,770,000 $3,885,000 $0 0.00%
Glenwood Springs, CO (FHA|USDA|VA) 1 $7,685,000 $7,685,000 $0 0.00%
Breckenridge, CO (FHA|USDA|VA) 2 $3,190,000 $1,595,000 $0 0.00%
COLORADO SPRINGS, CO (FHA|USDA|VA) 1 $2,955,000 $2,955,000 $0 0.00%
Outside of Metro Areas 2 $1,430,000 $715,000 $0 0.00%
BOULDER, CO (FHA|USDA|VA) 2 $990,000 $495,000 $0 0.00%
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 1 $735,000 $735,000 $0 0.00%
TULSA, OK (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
FORT COLLINS, CO (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%

Fortis Private Bank's top markets include Heber, Denver, Provo, Greeley, and Salt Lake City among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 151 $265,345,000 $1,757,252 $0 0.00%

For the 2021 period, Fortis Private Bank's most frequently originated loan type of loans were Conventional, with 151 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 88 $197,510,000 $2,244,432 $0 0.00%
Refi 37 $39,755,000 $1,074,459 $0 0.00%
Cash Out Refi 21 $20,225,000 $963,095 $0 0.00%
Other 4 $6,070,000 $1,517,500 $0 0.00%
Home Improvement 1 $1,785,000 $1,785,000 $0 0.00%

For the 2021, Fortis Private Bank's most frequently cited loan purpose of loans were Home Purchase, with 88 originations. The 2nd most popular reason of loans were Refi, with 37 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 151 $265,345,000 $1,757,252 $0 0.00%

For the 2021, Fortis Private Bank's most frequently cited loan length of loans were Other, with 151 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 102 $238,330,000 $2,336,569 $0 0.00%
$600k-1MM 20 $16,020,000 $801,000 $0 0.00%
$400k-600k 17 $8,195,000 $482,059 $0 0.00%
$200k-400k 7 $2,155,000 $307,857 $0 0.00%
$100k-200k 4 $550,000 $137,500 $0 0.00%
$100,000 or less 1 $95,000 $95,000 $0 0.00%

2021 saw Fortis Private Bank place emphasis on $1MM+ loans with 102 originations, totaling $238,330,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 116 $204,460,000 $1,762,586 $0 0.00%
$150k-250k 19 $14,655,000 $771,316 $0 0.00%
$100k-150k 4 $2,750,000 $687,500 $0 0.00%
$75k-100k 3 $1,245,000 $415,000 $0 0.00%

Fortis Private Bank lent most frequently to those with incomes in the $250k+ range, with 116 originations. The second most popular income band? $150k-250k, with 19 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 151 $265,345,000 $1,757,252 $0 0.00%

Fortis Private Bank lent most frequently to those with DTI ratios of Exempt%, with 151 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 112 $180,160,000 $1,608,571 $0 0.00%
Not applicable 9 $42,235,000 $4,692,778 $0 0.00%
Not provided 25 $34,905,000 $1,396,200 $0 0.00%
Asian 3 $6,855,000 $2,285,000 $0 0.00%
Black 2 $1,190,000 $595,000 $0 0.00%

Approval Rates

Total approvals of all applications
91.72%

Fortis Private Bank has an average approval rate.

Pick Rate

Approvals leading to origination
72.45%

Fortis Private Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 151 $265,345,000 $1,757,252

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
151 $265,345,000 $1,757,252

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Fortis Private Bank 13013 West Alameda Parkway Lakewood, CO 80228 Full Service B&M $138,731
Fortis Private Bank 1550 17th Street, Suite 203 Denver, CO 80202 Full Service B&M $827,217
Fortis Private Bank 7006 South Alton Way, Building B Centennial, CO 80112 Full Service B&M $45,534

For 2021, Fortis Private Bank had 3 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $30,085
Net interest income $28,685
Total noninterest income $1,330
Gross Fiduciary activities income $0
Service charges on deposit accounts $222
Trading account gains and fees $0
Additional Noninterest Income $1,108
Pre-tax net operating income $10,991
Securities gains (or losses, -) $147
Income before extraordinary items $8,885
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $8,885
Minority interest net income $0
Net income $8,885
Sale, conversion, retirement of capital stock, net $0
Net operating income $8,767

Fortis Private Bank's gross interest income from loans was $30,085,000.
Fortis Private Bank's net interest income from loans was $28,685,000.
Fortis Private Bank's fee based income from loans was $222,000.
Fortis Private Bank's net income from loans was $8,885,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,400
Provision for credit losses $1,260
Total noninterest expense $17,764
Salaries and employee benefits $10,400
Premises and equipment expense $1,223
Additional noninterest expense $6,141
Applicable income taxes $2,253
Net charge-offs $-3
Cash dividends $0

Fortis Private Bank's interest expense for loans was $1,400,000.
Fortis Private Bank's payroll and benefits expense were $10,400,000.
Fortis Private Bank's property, plant and equipment expenses $1,223,000.

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 1.0%
All other family 0.0%
Commercial & industrial loans 0.0%
Personal loans 11.0%
Credit card loans 0.0%
Other individual loans 11.0%
Auto loans 0.0%
Other consumer loans 11.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $983,773
Deposits held in domestic offices $983,773
Deposits by Individuals, partnerships, and corporations $982,532
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $992
Deposits by Commercial banks and other depository institutions in U.S. $249
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $737,586
Demand deposits $711,205
Nontransaction accounts $246,187
Money market deposit accounts (MMDAs) $184,524
Other savings deposits (excluding MMDAs) $50,367
Total time deposits $11,297
Total time and savings deposits $272,568
Noninterest-bearing deposits $588,555
Interest-bearing deposits $395,218
Retail deposits $980,861
IRAs and Keogh plan accounts $1,578
Brokered deposits $1
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,121,793
Cash & Balances due from depository institutions $90,718
Interest-bearing balances $82,407
Total securities $230,744
Federal funds sold & reverse repurchase $0
Net loans and leases $754,113
Loan and leases loss allowance $6,438
Trading account assets $932
Bank premises and fixed assets $5,791
Other real estate owned $0
Goodwill and other intangibles $64
All other assets $39,431

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,121,793
Total Liabilities $1,024,256
Total deposits $983,773
Interest-bearing deposits $395,218
Deposits held in domestic offices $983,773
% insured (estimated) $39
Federal funds purchased and repurchase agreements $0
Trading liabilities $932
Other borrowed funds $30,000
Subordinated debt $0
All other liabilities $9,551

Issued Loan Types

Type Value (in 000's)
Net loans and leases $754,113
Loan and leases loss allowance $6,438
Total loans and leases (domestic) $760,551
All real estate loans $636,047
Real estate loans in domestic offices $636,047
Construction and development loans $175,327
Residential 1-4 family construction $124,939
Other construction, all land development and other land $50,388
Loans secured by nonfarm nonresidential properties $176,989
Nonfarm nonresidential secured by owner-occupied properties $83,206
Commercial real estate & other non-farm, non-residential $93,783
Multifamily residential real estate $20,545
1-4 family residential loans $263,186
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $66,512
To non-U.S. addressees $0
Loans to individuals $60,277
Credit card loans $0
Related Plans $108
Consumer Auto Loans $0
Other loans to individuals $60,169
All other loans & leases $15
Loans to foreign governments and official institutions $0
Other loans $15
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 $380
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Fortis Private Bank had $754,113,000 of loans outstanding in 2021. $636,047,000 of loans were in real estate loans. $175,327,000 of loans were in development loans. $20,545,000 of loans were in multifamily mortgage loans. $263,186,000 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 34 $17,696 $520,471
Nonfarm, nonresidential loans - $100-250k 1 $168 $168,000
Nonfarm, nonresidential loans - $250k-1MM 33 $17,528 $531,152
Commercial & Industrial, US addressed loans - <$1MM 83 $11,176 $134,651
Commercial & Industrial, US addressed loans - <$100k 22 $704 $32,000
Commercial & Industrial, US addressed loans - $100-250k 19 $1,010 $53,158
Commercial & Industrial, US addressed loans - $250k-1MM 42 $9,462 $225,286