Veritex Community Bank Mortgage Rates, Fees & Info

Dallas, TX

LEI: 549300Q2EZNO3H86ED06

Tax ID: 76-0752296

2021 Data | 2020 Data | 2019 Data | 2018 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

Item Value (in 000's)
Total interest income $316,458
Net interest income $293,182
Total noninterest income $56,804
Gross Fiduciary activities income $0
Service charges on deposit accounts $13,429
Trading account gains and fees $0
Additional Noninterest Income $43,375
Pre-tax net operating income $190,951
Securities gains (or losses, -) $-536
Income before extraordinary items $150,730
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $150,730
Minority interest net income $0
Net income $150,730
Sale, conversion, retirement of capital stock, net $10,573
Net operating income $151,153

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.

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 1.0%
Multifamily residential loans 0.0%
1-4 family residential loans 0.0%
HELOC loans 0.0%
All other family 0.0%
Commercial & industrial loans 1.0%
Personal loans 12.0%
Credit card loans 0.0%
Other individual loans 12.0%
Auto loans 3.0%
Other consumer loans 13.0%
Unsecured commercial real estate loans 0.0%

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