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 Refi and Home Purchase loans. William Penn Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, New York, Trenton, Reading, and Cape Coral among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    William Penn 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

    117

    Origination Dollar Volume (All Markets)

    $48,245,000

    Employee count

    104

    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) 102 $40,730,000 $399,314 $0 0.00%
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 4 $3,020,000 $755,000 $0 0.00%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 4 $1,800,000 $450,000 $0 0.00%
    READING, PA (FHA|USDA|VA) 1 $825,000 $825,000 $0 0.00%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $475,000 $475,000 $0 0.00%
    OCEAN CITY, NJ (FHA|USDA|VA) 1 $345,000 $345,000 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    EAST STROUDSBURG, PA (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    William Penn Bank's top markets include Philadelphia, New York, Trenton, Reading, and Cape Coral among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 117 $48,245,000 $412,350 $0 0.00%

    For 2020, William Penn Bank's most frequently originated type of loan was Conventional, with 117 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 70 $36,000,000 $514,286 $0 0.00%
    Home Purchase 32 $10,090,000 $315,313 $0 0.00%
    Home Improvement 8 $560,000 $70,000 $0 0.00%
    Cash Out Refi 4 $1,370,000 $342,500 $0 0.00%
    Other 2 $70,000 $35,000 $0 0.00%
    NA 1 $155,000 $155,000 $0 0.00%

    For 2020, William Penn Bank's most frequently cited loan purpose was Refi, with 70 originations. The 2nd most popular reason was Home Purchase, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 117 $48,245,000 $412,350 $0 0.00%

    For 2020, William Penn Bank's most frequently cited loan duration was Other, with 117 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 39 $10,625,000 $272,436 $0 0.00%
    $100k-200k 28 $4,390,000 $156,786 $0 0.00%
    $100,000 or less 14 $760,000 $54,286 $0 0.00%
    $400k-600k 14 $6,690,000 $477,857 $0 0.00%
    $1MM+ 11 $17,355,000 $1,577,727 $0 0.00%
    $600k-1MM 11 $8,425,000 $765,909 $0 0.00%

    2020 saw William Penn Bank place emphasis on $200k-400k loans with 39 originations, totaling $10,625,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $7,935,000 $345,000 $0 0.00%
    $250k+ 20 $14,200,000 $710,000 $0 0.00%
    $150k-250k 17 $4,575,000 $269,118 $0 0.00%
    $50k-75k 10 $1,390,000 $139,000 $0 0.00%
    $75k-100k 7 $1,035,000 $147,857 $0 0.00%
    $50k or less 4 $620,000 $155,000 $0 0.00%

    William Penn Bank lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $250k+, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 117 $48,245,000 $412,350 $0 0.00%

    William Penn Bank lent most frequently to those with DTI ratios of Exempt%, with 117 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 35 $18,295,000 $522,714 $0 0.00%
    Not provided 26 $14,100,000 $542,308 $0 0.00%
    White 49 $13,005,000 $265,408 $0 0.00%
    Asian 4 $2,080,000 $520,000 $0 0.00%
    Black 3 $765,000 $255,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.29%

    William Penn Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    87.18%

    William Penn Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 117 $48,245,000 $412,350

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $9,280,000 $1,160,000
    Single Family (1-4 Units):Site-Built 109 $38,965,000 $357,477

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    William Penn Bank 10 Canal St Bristol, PA 19007 Limited, Administrative $0
    William Penn Bank 10663 Bustleton Avenue Philadelphia, PA 19116 Full Service B&M $25,047
    William Penn Bank 1309 Woodbourne Rd Levittown, PA 19057 Full Service B&M $83,948
    William Penn Bank 201 Pond Street Bristol, PA 19007 Full Service B&M $66,995
    William Penn Bank 2701 East Allegheny Avenue Philadelphia, PA 19134 Full Service B&M $76,023
    William Penn Bank 2900 Comly Road Philadelphia, PA 19154 Full Service B&M $19,849
    William Penn Bank 400 West Trenton Ave Morrisville, PA 19067 Full Service B&M $66,461
    William Penn Bank 5039 Church Road Mount Laurel, NJ 8054 Full Service B&M $42,967
    William Penn Bank 509 S. White Horse Pike Audubon, NJ 8106 Full Service B&M $70,789
    William Penn Bank 701 Erial Road Pine Hill, NJ 8021 Full Service B&M $32,945
    William Penn Bank 765 Haddon Avenue Collingswood, NJ 8108 Full Service B&M $126
    William Penn Bank 8729 Frankford Avenue Philadelphia, PA 19136 Full Service B&M $11,200
    William Penn Bank 911 Second Street Pike Richboro, PA 18954 Full Service B&M $71,159

    For 2020, William Penn Bank had 13 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $24,165
    Net interest income $18,987
    Total noninterest income $2,266
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $279
    Trading account gains and fees $0
    Additional Noninterest Income $1,987
    Pre-tax net operating income $2,151
    Securities gains (or losses, -) $127
    Income before extraordinary items $2,011
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,011
    Minority interest net income $0
    Net income $2,011
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,899

    William Penn Bank's gross interest income from loans was $24,165,000.
    William Penn Bank's net interest income from loans was $18,987,000.
    William Penn Bank's fee based income from loans was $279,000.
    William Penn Bank's net income from loans was $2,011,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,178
    Provision for credit losses $724
    Total noninterest expense $18,378
    Salaries and employee benefits $8,750
    Premises and equipment expense $2,105
    Additional noninterest expense $7,523
    Applicable income taxes $267
    Net charge-offs $125
    Cash dividends $0

    William Penn Bank's interest expense for loans was $5,178,000.
    William Penn Bank's payroll and benefits expense were $8,750,000.
    William Penn Bank's property, plant and equipment expenses $2,105,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 1.0%
    1-4 family residential loans 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 3.0%
    Credit card loans 0.0%
    Other individual loans 3.0%
    Auto loans 1.0%
    Other consumer loans 4.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $600,430
    Deposits held in domestic offices $600,430
    Deposits by Individuals, partnerships, and corporations $563,020
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $36,917
    Deposits by Commercial banks and other depository institutions in U.S. $493
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $140,387
    Demand deposits $140,387
    Nontransaction accounts $460,043
    Money market deposit accounts (MMDAs) $170,346
    Other savings deposits (excluding MMDAs) $95,550
    Total time deposits $194,147
    Total time and savings deposits $460,043
    Noninterest-bearing deposits $45,130
    Interest-bearing deposits $555,300
    Retail deposits $576,321
    IRAs and Keogh plan accounts $52,126
    Brokered deposits $3,764
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $745,085
    Cash & Balances due from depository institutions $88,625
    Interest-bearing balances $83,254
    Total securities $112,949
    Federal funds sold & reverse repurchase $0
    Net loans and leases $494,805
    Loan and leases loss allowance $3,587
    Trading account assets $0
    Bank premises and fixed assets $16,461
    Other real estate owned $100
    Goodwill and other intangibles $6,087
    All other assets $26,058

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $745,085
    Total Liabilities $648,926
    Total deposits $600,430
    Interest-bearing deposits $555,300
    Deposits held in domestic offices $600,430
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $41,000
    Subordinated debt $0
    All other liabilities $7,496

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $494,805
    Loan and leases loss allowance $3,587
    Total loans and leases (domestic) $498,392
    All real estate loans $489,519
    Real estate loans in domestic offices $489,519
    Construction and development loans $16,898
    Residential 1-4 family construction $11,080
    Other construction, all land development and other land $5,818
    Loans secured by nonfarm nonresidential properties $89,853
    Nonfarm nonresidential secured by owner-occupied properties $25,357
    Commercial real estate & other non-farm, non-residential $64,496
    Multifamily residential real estate $12,223
    1-4 family residential loans $370,545
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $6,027
    To non-U.S. addressees $0
    Loans to individuals $3,463
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $939
    Other loans to individuals $2,524
    All other loans & leases $24
    Loans to foreign governments and official institutions $0
    Other loans $24
    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 $1,342
    Non 1-4 family restructured loans & leases $375
    Total loans and leases (foreign) $0

    William Penn Bank had $494,805,000 of loans outstanding in 2020. $489,519,000 of loans were in real estate loans. $16,898,000 of loans were in development loans. $12,223,000 of loans were in multifamily mortgage loans. $370,545,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $939,000 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 201 $47,185 $234,751
    Nonfarm, nonresidential loans - <$100k 27 $1,037 $38,407
    Nonfarm, nonresidential loans - $100-250k 67 $7,405 $110,522
    Nonfarm, nonresidential loans - $250k-1MM 107 $38,743 $362,084
    Commercial & Industrial, US addressed loans - <$1MM 87 $6,027 $69,276
    Commercial & Industrial, US addressed loans - <$100k 63 $1,740 $27,619
    Commercial & Industrial, US addressed loans - $100-250k 12 $1,753 $146,083
    Commercial & Industrial, US addressed loans - $250k-1MM 12 $2,534 $211,167