William Penn Bank Mortgage Rates, Fees & Info

Levittown, PA

LEI: 549300NLS4UT5V6RUS41

Tax ID: 23-0953930

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

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, Ocean City, Atlantic City, and Trenton among others. We have data for 7 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.

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Originations

128

Origination Dollar Volume (All Markets)

$59,420,000

Employee count

115

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)	106	$35,390,000	$333,868	$0	0.00%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	10	$15,690,000	$1,569,000	$0	0.00%
OCEAN CITY, NJ (FHA\|USDA\|VA)	5	$5,675,000	$1,135,000	$0	0.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA\|USDA\|VA)	1	$1,275,000	$1,275,000	$0	0.00%
TRENTON-PRINCETON, NJ (FHA\|USDA\|VA)	4	$920,000	$230,000	$0	0.00%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	1	$295,000	$295,000	$0	0.00%
SCRANTON--WILKES-BARRE, PA (FHA\|USDA\|VA)	1	$175,000	$175,000	$0	0.00%

William Penn Bank's top markets include Philadelphia, New York, Ocean City, Atlantic City, and Trenton among others.

Their top states include:

New Jersey (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	128	$59,420,000	$464,219	$0	0.00%

For 2021, William Penn Bank's most frequently originated type of loan was Conventional, with 128 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Refi	93	$34,475,000	$370,699	$0	0.00%
Home Purchase	24	$13,360,000	$556,667	$0	0.00%
Home Improvement	9	$11,285,000	$1,253,889	$0	0.00%
Other	1	$125,000	$125,000	$0	0.00%
Cash Out Refi	1	$175,000	$175,000	$0	0.00%

For 2021, William Penn Bank's most frequently cited loan purpose was Refi, with 93 originations. The 2nd most popular reason was Home Purchase, with 24 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	128	$59,420,000	$464,219	$0	0.00%

For 2021, William Penn Bank's most frequently cited loan duration was Other, with 128 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100k-200k	43	$6,195,000	$144,070	$0	0.00%
$100,000 or less	25	$1,495,000	$59,800	$0	0.00%
$200k-400k	25	$7,095,000	$283,800	$0	0.00%
$400k-600k	16	$7,860,000	$491,250	$0	0.00%
$600k-1MM	10	$7,140,000	$714,000	$0	0.00%
$1MM+	9	$29,635,000	$3,292,778	$0	0.00%

2021 saw William Penn Bank place emphasis on $100k-200k loans with 43 originations, totaling $6,195,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$250k+	22	$15,000,000	$681,818	$0	0.00%
$150k-250k	18	$4,440,000	$246,667	$0	0.00%
$100k-150k	17	$2,665,000	$156,765	$0	0.00%
$50k-75k	15	$1,815,000	$121,000	$0	0.00%
$50k or less	7	$735,000	$105,000	$0	0.00%
$75k-100k	7	$1,415,000	$202,143	$0	0.00%

William Penn Bank lent most frequently to those with incomes in the $250k+ range, with 22 originations. The second most popular income band? $150k-250k, with 18 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	128	$59,420,000	$464,219	$0	0.00%

William Penn Bank lent most frequently to those with DTI ratios of Exempt%, with 128 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
Not applicable	40	$32,240,000	$806,000	$0	0.00%
Not provided	27	$13,965,000	$517,222	$0	0.00%
White	55	$12,535,000	$227,909	$0	0.00%
Asian	4	$420,000	$105,000	$0	0.00%
Black	2	$260,000	$130,000	$0	0.00%

Approval Rates

Total approvals of all applications
83.62%

William Penn Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
87.50%

William Penn Bank has an average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	128	$59,420,000	$464,219

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
	128	$59,420,000	$464,219

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	10 North Main St Yardley, PA 19067	Full Service B&M	$1,204
William Penn Bank	1309 Woodbourne Rd Levittown, PA 19057	Full Service B&M	$56,653
William Penn Bank	201 Pond Street Bristol, PA 19007	Full Service B&M	$122,918
William Penn Bank	2701 East Allegheny Avenue Philadelphia, PA 19134	Full Service B&M	$77,828
William Penn Bank	2900 Comly Road Philadelphia, PA 19154	Full Service B&M	$51,129
William Penn Bank	400 West Trenton Ave Morrisville, PA 19067	Full Service B&M	$69,434
William Penn Bank	5039 Church Road Mount Laurel, NJ 8054	Full Service B&M	$49,995
William Penn Bank	509 S. White Horse Pike Audubon, NJ 8106	Full Service B&M	$65,505
William Penn Bank	701 Erial Road Pine Hill, NJ 8021	Full Service B&M	$39,850
William Penn Bank	765 Haddon Avenue Collingswood, NJ 8108	Full Service B&M	$6,132
William Penn Bank	911 Second Street Pike Richboro, PA 18954	Full Service B&M	$74,190

For 2021, William Penn Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$24,613
Net interest income	$21,425
Total noninterest income	$1,936
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$305
Trading account gains and fees	$0
Additional Noninterest Income	$1,631
Pre-tax net operating income	$4,689
Securities gains (or losses, -)	$127
Income before extraordinary items	$4,192
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$4,192
Minority interest net income	$0
Net income	$4,192
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$4,081

William Penn Bank's gross interest income from loans was $24,613,000.
William Penn Bank's net interest income from loans was $21,425,000.
William Penn Bank's fee based income from loans was $305,000.
William Penn Bank's net income from loans was $4,192,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,188
Provision for credit losses	$5
Total noninterest expense	$18,667
Salaries and employee benefits	$10,711
Premises and equipment expense	$2,625
Additional noninterest expense	$5,331
Applicable income taxes	$624
Net charge-offs	$28
Cash dividends	$0

William Penn Bank's interest expense for loans was $3,188,000.
William Penn Bank's payroll and benefits expense were $10,711,000.
William Penn Bank's property, plant and equipment expenses $2,625,000.

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	4.0%
1-4 family residential loans	1.0%
HELOC loans	1.0%
All other family	1.0%
Commercial & industrial loans	0.0%
Personal loans	5.0%
Credit card loans	0.0%
Other individual loans	5.0%
Auto loans	0.0%
Other consumer loans	6.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$624,609
Deposits held in domestic offices	$624,609
Deposits by Individuals, partnerships, and corporations	$608,974
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$15,143
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	$163,533
Demand deposits	$163,533
Nontransaction accounts	$461,077
Money market deposit accounts (MMDAs)	$218,113
Other savings deposits (excluding MMDAs)	$100,501
Total time deposits	$142,464
Total time and savings deposits	$461,077
Noninterest-bearing deposits	$57,191
Interest-bearing deposits	$567,418
Retail deposits	$613,490
IRAs and Keogh plan accounts	$45,358
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$831,310
Cash & Balances due from depository institutions	$61,845
Interest-bearing balances	$55,675
Total securities	$238,907
Federal funds sold & reverse repurchase	$0
Net loans and leases	$456,776
Loan and leases loss allowance	$3,564
Trading account assets	$0
Bank premises and fixed assets	$20,248
Other real estate owned	$75
Goodwill and other intangibles	$5,791
All other assets	$47,668

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$831,310
Total Liabilities	$671,099
Total deposits	$624,609
Interest-bearing deposits	$567,418
Deposits held in domestic offices	$624,609
% insured (estimated)	$76
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$34,000
Subordinated debt	$0
All other liabilities	$12,490

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$456,776
Loan and leases loss allowance	$3,564
Total loans and leases (domestic)	$460,340
All real estate loans	$455,581
Real estate loans in domestic offices	$455,581
Construction and development loans	$16,748
Residential 1-4 family construction	$10,264
Other construction, all land development and other land	$6,484
Loans secured by nonfarm nonresidential properties	$124,769
Nonfarm nonresidential secured by owner-occupied properties	$44,045
Commercial real estate & other non-farm, non-residential	$80,724
Multifamily residential real estate	$11,276
1-4 family residential loans	$302,788
Farmland loans	$0
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$3,066
To non-U.S. addressees	$0
Loans to individuals	$2,489
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$249
Other loans to individuals	$2,240
All other loans & leases	$4
Loans to foreign governments and official institutions	$0
Other loans	$4
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	$795
Non 1-4 family restructured loans & leases	$322
Total loans and leases (foreign)	$0

William Penn Bank had $456,776,000 of loans outstanding in 2021. $455,581,000 of loans were in real estate loans. $16,748,000 of loans were in development loans. $11,276,000 of loans were in multifamily mortgage loans. $302,788,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $249,000 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	719	$44,016	$61,218
Nonfarm, nonresidential loans - <$100k	25	$801	$32,040
Nonfarm, nonresidential loans - $100-250k	589	$5,764	$9,786
Nonfarm, nonresidential loans - $250k-1MM	105	$37,451	$356,676
Commercial & Industrial, US addressed loans - <$1MM	43	$2,770	$64,419
Commercial & Industrial, US addressed loans - <$100k	23	$456	$19,826
Commercial & Industrial, US addressed loans - $100-250k	11	$740	$67,273
Commercial & Industrial, US addressed loans - $250k-1MM	9	$1,574	$174,889