William Penn Bank Mortgage Rates, Fees & Info

Levittown, PA

LEI: 549300NLS4UT5V6RUS41

Tax ID: 23-0953930

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • 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

    William Penn Bank is a smaller bank specializing in Home Purchase and Refi loans. William Penn Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Trenton, New York, Allentown, and Ocean City among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    William Penn Bank has an 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

    100

    Origination Dollar Volume (All Markets)

    $28,410,000

    Employee count

    68

    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
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 83 $21,945,000 $264,398 $0 0.00%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 3 $1,765,000 $588,333 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 3 $1,615,000 $538,333 $0 0.00%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 4 $1,240,000 $310,000 $0 0.00%
    OCEAN CITY, NJ (FHA|USDA|VA) 2 $880,000 $440,000 $0 0.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $290,000 $145,000 $0 0.00%
    LEBANON, PA (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
    William Penn Bank's top markets include Philadelphia, Trenton, New York, Allentown, and Ocean City among others.

    Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 100 $28,410,000 $284,100 $0 0.00%

    For 2019, William Penn Bank's most frequently originated type of loan was Conventional, with 100 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 51 $16,485,000 $323,235 $0 0.00%
    Refi 34 $10,440,000 $307,059 $0 0.00%
    Home Improvement 9 $895,000 $99,444 $0 0.00%
    Other 5 $315,000 $63,000 $0 0.00%
    Cash Out Refi 1 $275,000 $275,000 $0 0.00%

    For 2019, William Penn Bank's most frequently cited loan purpose was Home Purchase, with 51 originations. The 2nd most popular reason was Refi, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 100 $28,410,000 $284,100 $0 0.00%

    For 2019, William Penn Bank's most frequently cited loan duration was Other, with 100 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 28 $3,910,000 $139,643 $0 0.00%
    $100,000 or less 27 $1,345,000 $49,815 $0 0.00%
    $200k-400k 19 $5,055,000 $266,053 $0 0.00%
    $400k-600k 13 $6,385,000 $491,154 $0 0.00%
    $600k-1MM 11 $8,275,000 $752,273 $0 0.00%
    $1MM+ 2 $3,440,000 $1,720,000 $0 0.00%

    2019 saw William Penn Bank place emphasis on $100k-200k loans with 28 originations, totaling $3,910,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 17 $3,585,000 $210,882 $0 0.00%
    $150k-250k 13 $3,795,000 $291,923 $0 0.00%
    $75k-100k 12 $1,190,000 $99,167 $0 0.00%
    $250k+ 11 $6,305,000 $573,182 $0 0.00%
    $50k-75k 7 $965,000 $137,857 $0 0.00%
    $50k or less 5 $195,000 $39,000 $0 0.00%

    William Penn Bank lent most frequently to those with incomes in the $100k-150k range, with 17 originations. The second most popular income band? $150k-250k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 100 $28,410,000 $284,100 $0 0.00%

    William Penn Bank lent most frequently to those with DTI ratios of Exempt%, with 100 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 57 $14,925,000 $261,842 $0 0.00%
    Not applicable 32 $11,100,000 $346,875 $0 0.00%
    Not provided 9 $1,685,000 $187,222 $0 0.00%
    Black 2 $700,000 $350,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    83.33%

    William Penn Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    83.00%

    William Penn Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 100 $28,410,000 $284,100

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $2,040,000 $1,020,000
    Single Family (1-4 Units):Site-Built 98 $26,370,000 $269,082

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    William Penn Bank 1309 South Woodbourne Road Levittown, PA 19057 Full Service B&M $61,352
    William Penn Bank 400 West Trenton Ave Morrisville, PA 19067 Full Service B&M $55,954
    William Penn Bank 5039 Church Road Mount Laurel, NJ 8054 Full Service B&M $20,805
    William Penn Bank 509 S. White Horse Pike Audubon, NJ 8106 Full Service B&M $59,018
    William Penn Bank 701 Erial Road Pine Hill, NJ 8021 Full Service B&M $27,714
    William Penn Bank 911 Second Street Pike Richboro, PA 18954 Full Service B&M $61,621

    For 2019, William Penn Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $18,228
    Net interest income $13,751
    Total noninterest income $1,274
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $177
    Trading account gains and fees $0
    Additional Noninterest Income $1,097
    Pre-tax net operating income $4,903
    Securities gains (or losses, -) $233
    Income before extraordinary items $4,419
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,419
    Minority interest net income $0
    Net income $4,419
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,218

    William Penn Bank's gross interest income from loans was $18,228,000.
    William Penn Bank's net interest income from loans was $13,751,000.
    William Penn Bank's fee based income from loans was $177,000.
    William Penn Bank's net income from loans was $4,419,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,477
    Provision for credit losses $0
    Total noninterest expense $10,122
    Salaries and employee benefits $6,285
    Premises and equipment expense $1,173
    Additional noninterest expense $2,664
    Applicable income taxes $717
    Net charge-offs $161
    Cash dividends $1,000

    William Penn Bank's interest expense for loans was $4,477,000.
    William Penn Bank's payroll and benefits expense were $6,285,000.
    William Penn Bank's property, plant and equipment expenses $1,173,000.

    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 1.0%
    1-4 family residential loans 0.0%
    HELOC loans 2.0%
    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 $307,579
    Deposits held in domestic offices $307,579
    Deposits by Individuals, partnerships, and corporations $289,352
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $17,979
    Deposits by Commercial banks and other depository institutions in U.S. $248
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $74,509
    Demand deposits $74,509
    Nontransaction accounts $233,070
    Money market deposit accounts (MMDAs) $88,185
    Other savings deposits (excluding MMDAs) $30,618
    Total time deposits $114,268
    Total time and savings deposits $233,070
    Noninterest-bearing deposits $18,059
    Interest-bearing deposits $289,520
    Retail deposits $287,356
    IRAs and Keogh plan accounts $23,698
    Brokered deposits $3,519
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $444,604
    Cash & Balances due from depository institutions $41,076
    Interest-bearing balances $38,090
    Total securities $46,410
    Federal funds sold & reverse repurchase $0
    Net loans and leases $321,916
    Loan and leases loss allowance $2,988
    Trading account assets $0
    Bank premises and fixed assets $10,556
    Other real estate owned $0
    Goodwill and other intangibles $5,913
    All other assets $18,733

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $444,604
    Total Liabilities $368,935
    Total deposits $307,579
    Interest-bearing deposits $289,520
    Deposits held in domestic offices $307,579
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $56,000
    Subordinated debt $0
    All other liabilities $5,356

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $321,916
    Loan and leases loss allowance $2,988
    Total loans and leases (domestic) $324,904
    All real estate loans $322,602
    Real estate loans in domestic offices $322,602
    Construction and development loans $10,378
    Residential 1-4 family construction $5,514
    Other construction, all land development and other land $4,864
    Loans secured by nonfarm nonresidential properties $54,174
    Nonfarm nonresidential secured by owner-occupied properties $14,025
    Commercial real estate & other non-farm, non-residential $40,149
    Multifamily residential real estate $10,006
    1-4 family residential loans $248,044
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,192
    To non-U.S. addressees $0
    Loans to individuals $679
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $7
    Other loans to individuals $672
    All other loans & leases $192
    Loans to foreign governments and official institutions $0
    Other loans $192
    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 $1,655
    Non 1-4 family restructured loans & leases $638
    Total loans and leases (foreign) $0

    William Penn Bank had $321,916,000 of loans outstanding in 2019. $322,602,000 of loans were in real estate loans. $10,378,000 of loans were in development loans. $10,006,000 of loans were in multifamily mortgage loans. $248,044,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $7,000 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 178 $37,444 $210,360
    Nonfarm, nonresidential loans - <$100k 27 $968 $35,852
    Nonfarm, nonresidential loans - $100-250k 64 $8,080 $126,250
    Nonfarm, nonresidential loans - $250k-1MM 87 $28,396 $326,391
    Commercial & Industrial, US addressed loans - <$1MM 15 $2,192 $146,133
    Commercial & Industrial, US addressed loans - <$100k 7 $153 $21,857
    Commercial & Industrial, US addressed loans - $100-250k 4 $767 $191,750
    Commercial & Industrial, US addressed loans - $250k-1MM 4 $1,272 $318,000