Veritex Community Bank Mortgage Rates, Fees & Info
Dallas, TX
LEI: 549300Q2EZNO3H86ED06
Tax ID: 76-0752296
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Mortgage Data
Bank Data
Overview
Veritex Community Bank is a
smaller
bank
specializing in
Home Purchase
loans.
Veritex Community Bank has a high proportion of conventional loans.
Their top markets include Houston, Dallas, San Antonio, Austin, and Orlando among others. Veritex Community 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
544
Origination Dollar Volume (All Markets)
$899,890,000
Employee count
693
Top Markets
| Market |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
|
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA)
|
127
|
$330,565,000 |
$2,602,874 |
$0 |
0.00% |
|
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA)
|
296
|
$309,920,000 |
$1,047,027 |
$0 |
0.00% |
|
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA)
|
8
|
$50,240,000 |
$6,280,000 |
$0 |
0.00% |
|
AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA)
|
19
|
$40,785,000 |
$2,146,579 |
$0 |
0.00% |
|
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA)
|
1
|
$35,205,000 |
$35,205,000 |
$0 |
0.00% |
|
ALBUQUERQUE, NM (FHA|USDA|VA)
|
1
|
$28,555,000 |
$28,555,000 |
$0 |
0.00% |
|
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA)
|
2
|
$24,780,000 |
$12,390,000 |
$0 |
0.00% |
|
Athens, TX (FHA|USDA|VA)
|
16
|
$22,350,000 |
$1,396,875 |
$0 |
0.00% |
|
Outside of Metro Areas
|
17 |
$18,375,000 |
$1,080,882 |
$0 |
0.00% |
|
Edwards, CO (FHA|USDA|VA)
|
2
|
$4,850,000 |
$2,425,000 |
$0 |
0.00% |
|
KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA)
|
2
|
$4,730,000 |
$2,365,000 |
$0 |
0.00% |
|
Heber, UT (FHA|USDA|VA)
|
2
|
$3,390,000 |
$1,695,000 |
$0 |
0.00% |
|
HOT SPRINGS, AR (FHA|USDA|VA)
|
1
|
$2,505,000 |
$2,505,000 |
$0 |
0.00% |
|
WACO, TX (FHA|USDA|VA)
|
2
|
$2,500,000 |
$1,250,000 |
$0 |
0.00% |
|
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA)
|
1
|
$2,375,000 |
$2,375,000 |
$0 |
0.00% |
|
LUBBOCK, TX (FHA|USDA|VA)
|
5
|
$2,165,000 |
$433,000 |
$0 |
0.00% |
|
ODESSA, TX (FHA|USDA|VA)
|
1
|
$1,735,000 |
$1,735,000 |
$0 |
0.00% |
|
Brainerd, MN (FHA|USDA|VA)
|
2
|
$1,440,000 |
$720,000 |
$0 |
0.00% |
|
KILLEEN-TEMPLE, TX (FHA|USDA|VA)
|
2
|
$1,160,000 |
$580,000 |
$0 |
0.00% |
|
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA)
|
4
|
$1,050,000 |
$262,500 |
$0 |
0.00% |
|
SHERMAN-DENISON, TX (FHA|USDA|VA)
|
3
|
$1,035,000 |
$345,000 |
$0 |
0.00% |
|
PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA)
|
1
|
$925,000 |
$925,000 |
$0 |
0.00% |
|
Mount Pleasant, TX (FHA|USDA|VA)
|
1
|
$865,000 |
$865,000 |
$0 |
0.00% |
|
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA)
|
1
|
$855,000 |
$855,000 |
$0 |
0.00% |
|
CORPUS CHRISTI, TX (FHA|USDA|VA)
|
2
|
$830,000 |
$415,000 |
$0 |
0.00% |
|
SANTA FE, NM (FHA|USDA|VA)
|
1
|
$645,000 |
$645,000 |
$0 |
0.00% |
|
Williston, ND (FHA|USDA|VA)
|
1
|
$515,000 |
$515,000 |
$0 |
0.00% |
|
Brenham, TX (FHA|USDA|VA)
|
1
|
$505,000 |
$505,000 |
$0 |
0.00% |
|
Gainesville, TX (FHA|USDA|VA)
|
1
|
$455,000 |
$455,000 |
$0 |
0.00% |
|
Granbury, TX (FHA|USDA|VA)
|
2
|
$420,000 |
$210,000 |
$0 |
0.00% |
|
Mineral Wells, TX (FHA|USDA|VA)
|
1
|
$375,000 |
$375,000 |
$0 |
0.00% |
|
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA)
|
1
|
$365,000 |
$365,000 |
$0 |
0.00% |
|
Ruidoso, NM (FHA|USDA|VA)
|
1
|
$325,000 |
$325,000 |
$0 |
0.00% |
|
TYLER, TX (FHA|USDA|VA)
|
1
|
$305,000 |
$305,000 |
$0 |
0.00% |
|
Corsicana, TX (FHA|USDA|VA)
|
1
|
$295,000 |
$295,000 |
$0 |
0.00% |
|
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA)
|
2
|
$270,000 |
$135,000 |
$0 |
0.00% |
|
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA)
|
1
|
$265,000 |
$265,000 |
$0 |
0.00% |
|
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA)
|
1
|
$245,000 |
$245,000 |
$0 |
0.00% |
|
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA)
|
1
|
$245,000 |
$245,000 |
$0 |
0.00% |
|
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA)
|
1
|
$225,000 |
$225,000 |
$0 |
0.00% |
|
PROVO-OREM, UT (FHA|USDA|VA)
|
1
|
$195,000 |
$195,000 |
$0 |
0.00% |
|
SALT LAKE CITY, UT (FHA|USDA|VA)
|
1
|
$195,000 |
$195,000 |
$0 |
0.00% |
|
CINCINNATI, OH-KY-IN (FHA|USDA|VA)
|
1
|
$175,000 |
$175,000 |
$0 |
0.00% |
|
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA)
|
1
|
$165,000 |
$165,000 |
$0 |
0.00% |
|
TEXARKANA, TX-AR (FHA|USDA|VA)
|
1
|
$155,000 |
$155,000 |
$0 |
0.00% |
|
Bonham, TX (FHA|USDA|VA)
|
1
|
$135,000 |
$135,000 |
$0 |
0.00% |
|
Jacksonville, TX (FHA|USDA|VA)
|
1
|
$125,000 |
$125,000 |
$0 |
0.00% |
|
BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA)
|
1
|
$105,000 |
$105,000 |
$0 |
0.00% |
Veritex Community Bank's top markets include Houston, Dallas, San Antonio, Austin, and Orlando among others.
Product Mix
| Loan Type |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Conventional |
538 |
$897,630,000 |
$1,668,457 |
$0 |
0.00% |
| VA |
6 |
$2,260,000 |
$376,667 |
$0 |
0.00% |
For the 2021 period, Veritex Community Bank's most frequently
originated loan type
of loans were Conventional, with 538 originations.
Their 2nd most popular type is VA,
with 6 originations.
Loan Reason
| Loan Reason |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Home Purchase |
292 |
$754,160,000 |
$2,582,740 |
$0 |
0.00% |
| Refi |
139 |
$71,595,000 |
$515,072 |
$0 |
0.00% |
| Cash Out Refi |
79 |
$64,155,000 |
$812,089 |
$0 |
0.00% |
| Other |
25 |
$7,795,000 |
$311,800 |
$0 |
0.00% |
| Home Improvement |
9 |
$2,185,000 |
$242,778 |
$0 |
0.00% |
For the 2021, Veritex Community Bank's most frequently cited loan
purpose
of loans were Home Purchase, with 292
originations.
The 2nd most popular reason of loans were Refi,
with 139 originations.
Loan Duration/Length
| Loan Length |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Other |
544 |
$899,890,000 |
$1,654,210 |
$0 |
0.00% |
For the 2021, Veritex Community Bank's most frequently cited loan
length
of loans were Other, with 544 originations.
Loan Sizing
| Loan Size |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $200k-400k |
148 |
$44,040,000 |
$297,568 |
$0 |
0.00% |
| $400k-600k |
127 |
$62,045,000 |
$488,543 |
$0 |
0.00% |
| $1MM+ |
107 |
$735,205,000 |
$6,871,075 |
$0 |
0.00% |
| $100k-200k |
88 |
$13,330,000 |
$151,477 |
$0 |
0.00% |
| $600k-1MM |
58 |
$44,040,000 |
$759,310 |
$0 |
0.00% |
| $100,000 or less |
16 |
$1,230,000 |
$76,875 |
$0 |
0.00% |
2021 saw Veritex Community Bank place emphasis on
$200k-400k loans
with 148 originations, totaling
$44,040,000 in origination value.
Applicant Income
| Applicant Income |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| $250k+ |
175 |
$167,135,000 |
$955,057 |
$0 |
0.00% |
| $150k-250k |
105 |
$46,895,000 |
$446,619 |
$0 |
0.00% |
| $100k-150k |
63 |
$20,975,000 |
$332,937 |
$0 |
0.00% |
| $75k-100k |
37 |
$9,255,000 |
$250,135 |
$0 |
0.00% |
| $50k-75k |
36 |
$6,740,000 |
$187,222 |
$0 |
0.00% |
| $50k or less |
9 |
$1,875,000 |
$208,333 |
$0 |
0.00% |
Veritex Community Bank lent most frequently to those with incomes in the
$250k+ range, with
175 originations.
The second most popular income band? $150k-250k,
with 105 originations.
Applicant Debt to Income Ratio
| DTI Ratio |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Exempt% |
544 |
$899,890,000 |
$1,654,210 |
$0 |
0.00% |
Veritex Community Bank lent most frequently to those with DTI ratios
of Exempt%, with
544 originations.
Ethnicity Mix
| Applicant Ethnicity |
Originations |
Total Value |
Average Loan |
Average Fees |
Average Rate |
| Not applicable |
92 |
$638,340,000 |
$6,938,478 |
$0 |
0.00% |
| White |
353 |
$196,365,000 |
$556,275 |
$0 |
0.00% |
| Not provided |
60 |
$40,320,000 |
$672,000 |
$0 |
0.00% |
| Asian |
22 |
$15,370,000 |
$698,636 |
$0 |
0.00% |
| Black |
9 |
$6,445,000 |
$716,111 |
$0 |
0.00% |
| Asian Indian |
4 |
$1,890,000 |
$472,500 |
$0 |
0.00% |
| Other Asian |
2 |
$700,000 |
$350,000 |
$0 |
0.00% |
| American Indian |
2 |
$460,000 |
$230,000 |
$0 |
0.00% |
Approval Rates
Total approvals of all applications
95.57%
Veritex Community Bank has an exceptionally high approval rate. They
either target their audience
very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination
87.87%
Veritex Community Bank has an average pick rate.
Points and Fees
| Points |
Originations |
Total Value |
Average Loan |
| Exempt |
544 |
$899,890,000 |
$1,654,210 |
Occupancy Type Mix
| Dwelling Type |
Originations |
Total Value |
Average Loan |
|
544 |
$899,890,000 |
$1,654,210 |
Complaints
| Bank Name |
Product |
Issue |
2021 CPFB Complaints |
% of Total Issues |
| VERITAS FUNDING, LLC |
Conventional home mortgage |
Improper use of your report |
1 |
50.0% |
| VERITAS FUNDING, LLC |
Conventional home mortgage |
Trouble during payment process |
1 |
50.0% |
Bank Details
Branches
| Bank Name |
Branch |
Branch Type |
Deposits (000's) |
| Veritex Community Bank |
2424 Bay Area Blvd Houston, TX 77058 |
Full Service B&M
|
$34,579 |
| Veritex Community Bank |
6330 Davis Boulevard North Richland Hills, TX 76180 |
Full Service B&M
|
$188,625 |
| Veritex Community Bank |
7001 Boulevard 26 North Richland Hills, TX 76180 |
Full Service B&M
|
$87,295 |
| Veritex Community Bank |
7500 San Felipe Street Houston, TX 77063 |
Full Service B&M
|
$389,359 |
| Veritex Community Bank |
8214 Westchester Drive Dallas, TX 75225 |
Full Service B&M
|
$0 |
| Veritex Community Bank |
8214 Westchester Drive, Suite 100 Dallas, TX 75225 |
Full Service B&M
|
$3,134,184 |
| Veritex Community Bank |
908 Houston Street Cleveland, TX 77328 |
Full Service B&M
|
$55,256 |
| Veritex Community Bank |
1001 Main Street Garland, TX 75040 |
Full Service B&M
|
$182,295 |
| Veritex Community Bank |
102 West Parkwood Friendswood, TX 77546 |
Full Service B&M
|
$47,894 |
| Veritex Community Bank |
109 North Post Oak Lane, Suite 100 Houston, TX 77024 |
Full Service B&M
|
$409,767 |
| Veritex Community Bank |
1102 Kingwood Drive, Suite 101 Kingwood, TX 77339 |
Full Service B&M
|
$72,676 |
| Veritex Community Bank |
1301 East Campbell Road Richardson, TX 75081 |
Full Service B&M
|
$102,664 |
| Veritex Community Bank |
1438 Oates Drive Mesquite, TX 75150 |
Full Service B&M
|
$51,327 |
| Veritex Community Bank |
1455 Research Forest Drive Shenandoah, TX 77380 |
Full Service B&M
|
$49,550 |
| Veritex Community Bank |
1518 Legacy Dr Ste 100 Frisco, TX 75034 |
Full Service B&M
|
$165,716 |
| Veritex Community Bank |
16771 Dallas Parkway Addison, TX 75001 |
Full Service B&M
|
$45,632 |
| Veritex Community Bank |
17950 Preston Road - Suite 100 Dallas, TX 75252 |
Full Service B&M
|
$158,326 |
| Veritex Community Bank |
201 West Main Street Honey Grove, TX 75446 |
Full Service B&M
|
$36,815 |
| Veritex Community Bank |
2101 Abrams Road Dallas, TX 75214 |
Full Service B&M
|
$236,799 |
| Veritex Community Bank |
2408 Cedar Springs Road Dallas, TX 75201 |
Full Service B&M
|
$41,422 |
| Veritex Community Bank |
2424 Merrick Street Fort Worth, TX 76107 |
Full Service B&M
|
$119,119 |
| Veritex Community Bank |
2706 Oak Lawn Avenue Dallas, TX 75219 |
Full Service B&M
|
$191,734 |
| Veritex Community Bank |
2800 W. 7th Street Fort Worth, TX 76107 |
Full Service B&M
|
$81,192 |
| Veritex Community Bank |
2900 North Loop West, Ste. 200 Houston, TX 77092 |
Limited, Administrative
|
$0 |
| Veritex Community Bank |
3800 Matlock Road Arlington, TX 76015 |
Full Service B&M
|
$47,593 |
| Veritex Community Bank |
3880 Hulen Street Fort Worth, TX 76107 |
Full Service B&M
|
$85,260 |
| Veritex Community Bank |
4000 Greenbriar St Houston, TX 77098 |
Full Service B&M
|
$477,600 |
| Veritex Community Bank |
4300 North Belt Line Road Irving, TX 75038 |
Full Service B&M
|
$141,111 |
| Veritex Community Bank |
5049 West Park Boulevard Plano, TX 75093 |
Full Service B&M
|
$194,752 |
| Veritex Community Bank |
5111 San Felipe Street Houston, TX 77056 |
Full Service B&M
|
$205,623 |
| Veritex Community Bank |
5900 Memorial Dr., Suite 100 Houston, TX 77007 |
Full Service B&M
|
$58,908 |
For 2021, Veritex Community Bank had 31 branches.
Yearly Performance Overview
Bank Income
Veritex Community Bank's gross interest income from loans was $316,458,000.
Veritex Community Bank's net interest income from loans was $293,182,000.
Veritex Community Bank's fee based income from loans was $13,429,000.
Veritex Community Bank's net income from loans was $150,730,000.
Bank Expenses
| Item |
Value (in 000's) |
| Total interest expense |
$23,276 |
| Provision for credit losses |
$-4,830 |
| Total noninterest expense |
$163,865 |
| Salaries and employee benefits |
$94,080 |
| Premises and equipment expense |
$15,146 |
| Additional noninterest expense |
$54,639 |
| Applicable income taxes |
$39,685 |
| Net charge-offs |
$23,981 |
| Cash dividends |
$8,440 |
Veritex Community Bank's interest expense for loans was $23,276,000.
Veritex Community Bank's payroll and benefits expense were $94,080,000.
Veritex Community Bank's property, plant and equipment expenses $15,146,000.
Deposits
| Type |
Value (in 000's) |
| Total deposits |
$7,408,506 |
| Deposits held in domestic offices |
$7,408,506 |
| Deposits by Individuals, partnerships, and corporations |
$5,614,137 |
| Deposits by U.S. Government |
$291 |
| Deposits by States and political subdivisions in the U.S. |
$1,120,333 |
| Deposits by Commercial banks and other depository institutions in U.S. |
$673,745 |
| Deposits by Banks in foreign countries |
$0 |
| Deposits by Foreign governments and official institutions |
$0 |
| Transaction accounts |
$3,135,019 |
| Demand deposits |
$2,919,769 |
| Nontransaction accounts |
$4,273,487 |
| Money market deposit accounts (MMDAs) |
$2,568,844 |
| Other savings deposits (excluding MMDAs) |
$128,062 |
| Total time deposits |
$1,576,580 |
| Total time and savings deposits |
$4,488,737 |
| Noninterest-bearing deposits |
$2,555,614 |
| Interest-bearing deposits |
$4,852,892 |
| Retail deposits |
$6,387,103 |
| IRAs and Keogh plan accounts |
$60,857 |
| Brokered deposits |
$182,303 |
| Deposits held in foreign offices |
$0 |
Assets
| Asset |
Value (in 000's) |
| Total Assets |
$9,754,099 |
| Cash & Balances due from depository institutions |
$379,733 |
| Interest-bearing balances |
$335,761 |
| Total securities |
$1,063,532 |
| Federal funds sold & reverse repurchase |
$102,288 |
| Net loans and leases |
$7,333,276 |
| Loan and leases loss allowance |
$77,754 |
| Trading account assets |
$0 |
| Bank premises and fixed assets |
$126,331 |
| Other real estate owned |
$0 |
| Goodwill and other intangibles |
$469,788 |
| All other assets |
$279,151 |
Liabilities
| Liabilities |
Value (in 000's) |
| Total liabilities and capital |
$9,754,099 |
| Total Liabilities |
$8,258,806 |
| Total deposits |
$7,408,506 |
| Interest-bearing deposits |
$4,852,892 |
| Deposits held in domestic offices |
$7,408,506 |
| % insured (estimated) |
$48 |
| Federal funds purchased and repurchase agreements |
$4,069 |
| Trading liabilities |
$0 |
| Other borrowed funds |
$777,562 |
| Subordinated debt |
$0 |
| All other liabilities |
$68,669 |
Issued Loan Types
| Type |
Value (in 000's) |
| Net loans and leases |
$7,333,276 |
| Loan and leases loss allowance |
$77,754 |
| Total loans and leases (domestic) |
$7,411,030 |
| All real estate loans |
$4,769,963 |
| Real estate loans in domestic offices |
$4,769,963 |
| Construction and development loans |
$1,062,917 |
| Residential 1-4 family construction |
$165,430 |
| Other construction, all land development and other land |
$897,487 |
| Loans secured by nonfarm nonresidential properties |
$2,792,952 |
| Nonfarm nonresidential secured by owner-occupied properties |
$665,544 |
| Commercial real estate & other non-farm, non-residential |
$2,127,408 |
| Multifamily residential real estate |
$310,132 |
| 1-4 family residential loans |
$548,257 |
| Farmland loans |
$55,705 |
| Loans held in foreign offices |
$0 |
| Farm loans |
$0 |
| Commercial and industrial loans |
$1,612,767 |
| To non-U.S. addressees |
$0 |
| Loans to individuals |
$9,990 |
| Credit card loans |
$0 |
| Related Plans |
$2,835 |
| Consumer Auto Loans |
$821 |
| Other loans to individuals |
$6,334 |
| All other loans & leases |
$1,018,309 |
| Loans to foreign governments and official institutions |
$0 |
| Other loans |
$1,018,309 |
| 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 |
$5,772 |
| Non 1-4 family restructured loans & leases |
$5,621 |
| Total loans and leases (foreign) |
$0 |
Veritex Community Bank had $7,333,276,000 of loans outstanding in 2021. $4,769,963,000 of loans were in real estate loans.
$1,062,917,000 of loans were in development loans. $310,132,000 of loans were in multifamily mortgage loans.
$548,257,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0
of loans were in credit card loans. $821,000 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 |
591 |
$176,615 |
$298,841 |
| Nonfarm, nonresidential loans - <$100k |
26 |
$1,336 |
$51,385 |
| Nonfarm, nonresidential loans - $100-250k |
97 |
$12,112 |
$124,866 |
| Nonfarm, nonresidential loans - $250k-1MM |
468 |
$163,167 |
$348,647 |
| Commercial & Industrial, US addressed loans - <$1MM |
1,569 |
$205,790 |
$131,160 |
| Commercial & Industrial, US addressed loans - <$100k |
753 |
$25,133 |
$33,377 |
| Commercial & Industrial, US addressed loans - $100-250k |
325 |
$38,809 |
$119,412 |
| Commercial & Industrial, US addressed loans - $250k-1MM |
491 |
$141,848 |
$288,896 |
| Farmland loans - <$1MM |
9 |
$1,213 |
$134,778 |
| Farmland loans - <$100k |
3 |
$175 |
$58,333 |
| Farmland loans - $100-250k |
3 |
$554 |
$184,667 |
| Farmland loans - $250k-1MM |
3 |
$484 |
$161,333 |
