Penn Community Bank Mortgage Rates, Fees & Info

Doylestown, PA

LEI: 549300L3C3LKXG2XBS96

Tax ID: 23-1330248

5 stars - out of 5 stars, based on 29 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Penn Community Bank is a smaller bank specializing in Cash Out Refi, Refi, and Home Purchase loans. Penn Community Bank has a high proportion of conventional loans. Their top markets include Philadelphia, Allentown, Trenton, Atlantic City, and Reading among others. Penn Community Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Penn Community Bank is typically an average fee lendor.


Originations

826

Origination Dollar Volume (All Markets)

$260,790,000

Employee count

310

Awards

Penn Community Bank 30 Year Conventional Loans gold Penn Community Bank 30 Year Conventional Loans silver
Show all (2) awards

Relative Rate

Penn Community Bank's average 30 year fixed rate mortgage of loans were 3.18%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of 0.03%.

Relative Fees

Penn Community Bank's average total fees for a 30 year fixed rate mortgage are $3,717.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 707 $213,925,000 $302,581 $3,187 3.17%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 66 $11,970,000 $181,364 $3,166 3.16%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 4 $11,180,000 $2,795,000 $2,436 3.48%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 6 $6,300,000 $1,050,000 $4,113 3.15%
READING, PA (FHA|USDA|VA) 8 $5,760,000 $720,000 $3,325 3.12%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 19 $5,685,000 $299,211 $2,553 3.18%
OCEAN CITY, NJ (FHA|USDA|VA) 12 $4,960,000 $413,333 $3,353 2.91%
Huntingdon, PA (FHA|USDA|VA) 1 $605,000 $605,000 $8,685 2.88%
LANCASTER, PA (FHA|USDA|VA) 1 $185,000 $185,000 $3,173 3.63%
Outside of Metro Areas 1 $115,000 $115,000 $2,879 2.50%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 3.73%

Penn Community Bank's top markets include Philadelphia, Allentown, Trenton, Atlantic City, and Reading among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 826 $260,790,000 $315,726 $3,181 3.16%

For the 2021 period, Penn Community Bank's most frequently originated loan type of loans were Conventional, with 826 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Cash Out Refi 315 $108,915,000 $345,762 $3,182 3.16%
Refi 269 $66,945,000 $248,866 $3,212 2.84%
Home Purchase 186 $73,900,000 $397,312 $4,060 3.42%
Home Improvement 31 $5,955,000 $192,097 $608 4.03%
Other 25 $5,075,000 $203,000 $1,766 3.70%

For the 2021, Penn Community Bank's most frequently cited loan purpose of loans were Cash Out Refi, with 315 originations. The 2nd most popular reason of loans were Refi, with 269 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 424 $116,700,000 $275,236 $3,717 3.18%
15 Year 209 $42,365,000 $202,703 $2,480 2.89%
20 Year 81 $15,255,000 $188,333 $2,669 3.01%
10 Year 50 $42,450,000 $849,000 $2,243 3.45%
5 Year 40 $22,430,000 $560,750 $0 3.97%
Other 16 $17,920,000 $1,120,000 $1,974 4.02%
1 Year 2 $520,000 $260,000 $0 4.00%
30+ year 2 $2,360,000 $1,180,000 $14,109 3.44%
3 Year 2 $790,000 $395,000 $0 3.88%

For the 2021, Penn Community Bank's most frequently cited loan length of loans were 30 Year, with 424 originations. The 2nd most popular length of loans were 15 Year, with 209 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 594 $143,520,000 $241,616
$1k-2k 35 $9,275,000 $265,000
$2k-3k 18 $6,180,000 $343,333
$5k+ 7 $4,095,000 $585,000
$3k-4k 5 $1,235,000 $247,000

$3,717 of loans were Penn Community Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 594 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 320 $124,390,000 $388,719
2.5-3% 307 $76,585,000 $249,463
<2.5% 119 $26,905,000 $226,092
4-5% 80 $32,910,000 $411,375

During 2021, Penn Community Bank's average interest rate of loans were 3.18%, while their most frequently originated rate bucket of loans were 3-4%, with 320 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 309 $84,025,000 $271,926 $3,575 3.13%
$100k-200k 282 $41,640,000 $147,660 $2,628 3.01%
$100,000 or less 94 $6,310,000 $67,128 $1,001 3.57%
$400k-600k 88 $42,600,000 $484,091 $4,463 3.04%
$600k-1MM 31 $22,595,000 $728,871 $6,695 3.58%
$1MM+ 22 $63,620,000 $2,891,818 $12,299 3.83%

2021 saw Penn Community Bank place emphasis on $200k-400k loans with 309 originations, totaling $84,025,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 182 $43,100,000 $236,813 $3,144 3.16%
$50k-75k 152 $26,000,000 $171,053 $2,752 3.04%
$150k-250k 149 $45,705,000 $306,745 $3,631 3.04%
$75k-100k 105 $21,235,000 $202,238 $3,103 3.13%
$50k or less 75 $9,295,000 $123,933 $2,226 3.10%
$250k+ 69 $30,305,000 $439,203 $5,014 3.01%

Penn Community Bank lent most frequently to those with incomes in the $100k-150k range, with 182 originations. The second most popular income band? $50k-75k, with 152 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 204 $49,370,000 $242,010 $3,228 3.04%
30-36% 134 $32,500,000 $242,537 $3,193 3.07%
<20% 85 $19,555,000 $230,059 $3,204 2.89%
42% 39 $11,365,000 $291,410 $3,192 3.32%
38% 36 $8,620,000 $239,444 $2,965 3.03%
41% 34 $8,850,000 $260,294 $3,143 3.29%
39% 28 $5,240,000 $187,143 $2,522 3.27%
40% 27 $6,285,000 $232,778 $2,930 3.29%
36% 25 $4,825,000 $193,000 $3,006 3.10%
37% 23 $5,665,000 $246,304 $3,156 3.30%
44% 20 $4,890,000 $244,500 $3,383 3.01%
47% 20 $4,710,000 $235,500 $3,237 3.06%
43% 19 $4,005,000 $210,789 $3,415 3.03%
48% 18 $4,320,000 $240,000 $3,392 3.13%
49% 13 $2,575,000 $198,077 $3,299 2.94%
45% 12 $3,470,000 $289,167 $3,897 3.16%
46% 10 $2,870,000 $287,000 $3,307 2.84%
>60% 2 $430,000 $215,000 $5,003 3.69%

Penn Community Bank lent most frequently to those with DTI ratios of 20-30%, with 204 originations. The next most common DTI ratio? 30-36%, with 134 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 698 $169,450,000 $242,765 $3,205 3.08%
Not applicable 71 $78,665,000 $1,107,958 $0 3.94%
Asian 21 $5,045,000 $240,238 $2,893 3.17%
Not provided 19 $4,395,000 $231,316 $2,336 3.29%
Black 13 $2,625,000 $201,923 $3,479 3.25%
Asian Indian 2 $250,000 $125,000 $2,725 2.38%
Filipino 1 $185,000 $185,000 $4,029 2.50%
American Indian 1 $175,000 $175,000 $2,715 3.00%

Approval Rates

Total approvals of all applications
89.73%

Penn Community Bank has an average approval rate.

Pick Rate

Approvals leading to origination
86.79%

Penn Community Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 826 $260,790,000 $315,726

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
826 $260,790,000 $315,726

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 125 $22,825,000 $182,600 $2,646 2.90%
40-60% 219 $55,035,000 $251,301 $3,125 2.95%
60-80% 349 $153,715,000 $440,444 $3,745 3.28%
80-100% 79 $25,695,000 $325,253 $4,147 3.12%
Under 20% 54 $3,520,000 $65,185 $527 3.94%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Penn Community Bank 142 N Main Street Dublin, PA 18917 Full Service B&M $73,842
Penn Community Bank 1051 South West End Blvd Quakertown, PA 18951 Full Service B&M $49,924
Penn Community Bank 1129 N Fifth St Perkasie, PA 18944 Full Service B&M $117,050
Penn Community Bank 118 Mill Street Bristol, PA 19007 Full Service B&M $119,625
Penn Community Bank 126 South Bellevue Avenue Langhorne, PA 19047 Full Service B&M $77,315
Penn Community Bank 1315 Easton Road Riegelsville, PA 18077 Full Service B&M $165,445
Penn Community Bank 400 Commerce Blvd, Milford Square Quakertown, PA 18951 Full Service B&M $39,414
Penn Community Bank 426 N Main Street Doylestown, PA 18901 Full Service B&M $62,354
Penn Community Bank 519 Richlandtown Pike Richlandtown, PA 18955 Full Service B&M $69,651
Penn Community Bank 530 Second Street Pike Southampton, PA 18966 Full Service B&M $74,799
Penn Community Bank 600 Market Street Perkasie, PA 18944 Full Service B&M $123,159
Penn Community Bank 601 Louis Drive Warminster, PA 18974 Full Service B&M $47,113
Penn Community Bank 6999 Easton Road, Po Box 470 Pipersville, PA 18947 Full Service B&M $103,030
Penn Community Bank 732 Stony Hill Rd., Bldg. 3 Yardley, PA 19067 Full Service B&M $169,246
Penn Community Bank 16 Highland Park Way Levittown, PA 19056 Full Service B&M $70,521
Penn Community Bank 1651 The Fairway Jenkintown, PA 19046 Full Service B&M $54,413
Penn Community Bank 200 Manor Ave Langhorne, PA 19047 Limited, Mobile/Seasonal Office $357
Penn Community Bank 208 Levittown Parkway Levittown, PA 19054 Full Service B&M $125,164
Penn Community Bank 2127 Galloway Road Bensalem, PA 19020 Full Service B&M $163,096
Penn Community Bank 275 W Bridge Street New Hope, PA 18938 Full Service B&M $99,909
Penn Community Bank 295 N Sycamore St Newtown, PA 18940 Full Service B&M $84,231
Penn Community Bank 380 West Butler Avenue New Britain, PA 18901 Full Service B&M $49,591
Penn Community Bank 3969 Durham Road Doylestown, PA 18902 Full Service B&M $29,524
Penn Community Bank 3969 Durham Road Doylestown, PA 18902 Full Service B&M $115,054

For 2021, Penn Community Bank had 24 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $78,759
Net interest income $66,192
Total noninterest income $16,140
Gross Fiduciary activities income $265
Service charges on deposit accounts $1,001
Trading account gains and fees $0
Additional Noninterest Income $14,874
Pre-tax net operating income $26,824
Securities gains (or losses, -) $29
Income before extraordinary items $22,094
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $22,094
Minority interest net income $0
Net income $22,094
Sale, conversion, retirement of capital stock, net $0
Net operating income $22,070

Penn Community Bank's gross interest income from loans was $78,759,000.
Penn Community Bank's net interest income from loans was $66,192,000.
Penn Community Bank's fee based income from loans was $1,001,000.
Penn Community Bank's net income from loans was $22,094,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $12,567
Provision for credit losses $-185
Total noninterest expense $55,693
Salaries and employee benefits $32,063
Premises and equipment expense $5,874
Additional noninterest expense $17,756
Applicable income taxes $4,759
Net charge-offs $-219
Cash dividends $0

Penn Community Bank's interest expense for loans was $12,567,000.
Penn Community Bank's payroll and benefits expense were $32,063,000.
Penn Community Bank's property, plant and equipment expenses $5,874,000.

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 2.0%
Credit card loans 0.0%
Other individual loans 2.0%
Auto loans 0.0%
Other consumer loans 2.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $2,142,593
Deposits held in domestic offices $2,142,593
Deposits by Individuals, partnerships, and corporations $1,892,693
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $214,252
Deposits by Commercial banks and other depository institutions in U.S. $35,648
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $815,615
Demand deposits $402,611
Nontransaction accounts $1,326,978
Money market deposit accounts (MMDAs) $626,791
Other savings deposits (excluding MMDAs) $269,091
Total time deposits $431,096
Total time and savings deposits $1,739,982
Noninterest-bearing deposits $290,353
Interest-bearing deposits $1,852,240
Retail deposits $2,027,528
IRAs and Keogh plan accounts $102,415
Brokered deposits $52,021
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $2,705,521
Cash & Balances due from depository institutions $330,408
Interest-bearing balances $319,558
Total securities $761,491
Federal funds sold & reverse repurchase $0
Net loans and leases $1,487,358
Loan and leases loss allowance $16,743
Trading account assets $0
Bank premises and fixed assets $22,066
Other real estate owned $0
Goodwill and other intangibles $10,055
All other assets $94,143

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $2,705,521
Total Liabilities $2,381,974
Total deposits $2,142,593
Interest-bearing deposits $1,852,240
Deposits held in domestic offices $2,142,593
% insured (estimated) $67
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $213,217
Subordinated debt $0
All other liabilities $26,164

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,487,358
Loan and leases loss allowance $16,743
Total loans and leases (domestic) $1,504,101
All real estate loans $1,407,062
Real estate loans in domestic offices $1,407,062
Construction and development loans $191,659
Residential 1-4 family construction $37,584
Other construction, all land development and other land $154,075
Loans secured by nonfarm nonresidential properties $370,150
Nonfarm nonresidential secured by owner-occupied properties $165,314
Commercial real estate & other non-farm, non-residential $204,836
Multifamily residential real estate $148,751
1-4 family residential loans $690,662
Farmland loans $5,840
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $90,737
To non-U.S. addressees $0
Loans to individuals $2,415
Credit card loans $0
Related Plans $0
Consumer Auto Loans $0
Other loans to individuals $2,415
All other loans & leases $3,887
Loans to foreign governments and official institutions $0
Other loans $1,293
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 $3,098
Non 1-4 family restructured loans & leases $1,986
Total loans and leases (foreign) $0

Penn Community Bank had $1,487,358,000 of loans outstanding in 2021. $1,407,062,000 of loans were in real estate loans. $191,659,000 of loans were in development loans. $148,751,000 of loans were in multifamily mortgage loans. $690,662,000 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 555 $119,343 $215,032
Nonfarm, nonresidential loans - <$100k 159 $2,440 $15,346
Nonfarm, nonresidential loans - $100-250k 116 $13,325 $114,871
Nonfarm, nonresidential loans - $250k-1MM 280 $103,578 $369,921
Commercial & Industrial, US addressed loans - <$1MM 1,153 $47,459 $41,161
Commercial & Industrial, US addressed loans - <$100k 943 $15,660 $16,607
Commercial & Industrial, US addressed loans - $100-250k 115 $10,302 $89,583
Commercial & Industrial, US addressed loans - $250k-1MM 95 $21,497 $226,284
Farmland loans - <$1MM 7 $1,282 $183,143
Farmland loans - $100-250k 4 $581 $145,250
Farmland loans - $250k-1MM 3 $701 $233,667