Veritex Community Bank Mortgage Rates, Fees & Info
Dallas, TXLEI: 549300Q2EZNO3H86ED06
Tax ID: 76-0752296
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Bank Data
Review & 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 by origination volume include: Dallas, Austin, Houston, Athens, and Weatherford among others. We have data for 16 markets. (Some data included below & more in-depth data is available with an active subscription.)Veritex Community Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Veritex Community Bank is typically a high fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/18/24 |
| 30 Year Conventional Purchase | 6.24% | 4/18/24 |
| 30 Year Conventional Refi | 5.95% | 4/18/24 |
| 30 Year Cash-out Refi | 6.15% | 4/18/24 |
| 15 Year Conventional Purchase | 5.73% | 4/18/24 |
| 15 Year Conventional Refi | 5.42% | 4/18/24 |
| 15 Year Cash-out Refi | 5.42% | 4/18/24 |
| These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates. | ||
Veritex Community Bank Mortgage Calculator
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
311Origination Dollar Volume (All Markets)
$213,145,000Employee count
333Awards
Veritex Community Bank - 2018
Veritex Community Bank is a 2018 , due to their low .
For 2018, less than of lenders were eligible for this award.
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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 |
|---|---|---|---|---|---|
| Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) | 276 | $197,300,000 | $714,855 | $9,342 | 4.88% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 4 | $3,580,000 | $895,000 | $14,187 | 4.25% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 9 | $3,415,000 | $379,444 | $10,497 | 4.75% |
| Athens, TX (FHA|USDA|VA) | 5 | $2,765,000 | $553,000 | $9,473 | 4.43% |
| Outside of Metro Areas | 4 | $1,190,000 | $297,500 | $5,866 | 4.65% |
| Weatherford, OK (FHA|USDA|VA) | 1 | $845,000 | $845,000 | $0 | 6.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $9,767 | 4.29% |
| Corsicana, TX (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $8,403 | 4.45% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $5,557 | 4.13% |
| Kalispell, MT (FHA|USDA|VA) | 1 | $455,000 | $455,000 | $4,459 | 4.45% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $0 | 6.00% |
| Granbury, TX (FHA|USDA|VA) | 2 | $410,000 | $205,000 | $4,263 | 5.23% |
| Mineral Wells, TX (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $7,498 | 4.45% |
| OGDEN-CLEARFIELD, UT (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $4,383 | 4.29% |
| BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,709 | 4.50% |
| OKLAHOMA CITY, OK (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $3,336 | 5.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Veritex Community Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 300 | $210,140,000 | $700,467 | $9,243 | 4.84% |
| HELOC | 9 | $2,115,000 | $235,000 | n/a | 5.67% |
| VA | 2 | $890,000 | $445,000 | $10,881 | 4.25% |
For 2018, Veritex Community Bank's most frequently originated type of loan was Conventional, with 300 originations. Their 2nd most popular type was HELOC, with 9 originations.
Loan Reason
For 2018, Veritex Community Bank's most frequently cited loan purpose was Home Purchase, with 211 originations. The 2nd most popular reason was Cash Out Refi, with 38 originations.
Loan Duration/Length
For 2018, Veritex Community Bank's most frequently cited loan duration was 30 Year, with 150 originations. The 2nd most popular length was 1 Year, with 36 originations.
Origination Fees/Closing Costs
Veritex Community Bank's average total fees were $8,610, while their most frequently occuring range of origination fees (closing costs) were in the $1k-2k bucket, with 98 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 184 | $142,220,000 | $772,935 |
| 5-6% | 98 | $61,660,000 | $629,184 |
| 3-4% | 20 | $8,120,000 | $406,000 |
| 6-7% | 9 | $1,145,000 | $127,222 |
During 2018, Veritex Community Bank's average interest rate for loans was 4.46%, while their most frequently originated rate bucket for loans was 4-5%, with 184 originations.
Loan Sizing
2018 saw Veritex Community Bank place emphasis on $200k-400k loans with 98 originations, totaling $27,530,000 in origination value.
Applicant Income
Veritex Community Bank lent most frequently to those with incomes in the $250k+ range, with 97 originations. The second most popular income band? $150k-250k, with 62 originations.
Applicant Debt to Income Ratio
Veritex Community Bank lent most frequently to those with DTI ratios of 20-30%, with 42 originations. The next most common DTI ratio? 30-36%, with 38 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.42%
Veritex Community Bank has an average approval rate.
Pick Rate
Approvals leading to origination90.35%
Veritex Community Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 311 | $213,145,000 | $685,354 |
Occupancy Type Mix
LTV Distribution
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Veritex Community Bank | 10703 Preston Rd Dallas, TX 75230 | Full Service B&M | $13,799 |
| Veritex Community Bank | 14885 Preston Rd Dallas, TX 75254 | Full Service B&M | $40,351 |
| Veritex Community Bank | 1518 Legacy Dr Ste 100 Frisco, TX 75034 | Full Service B&M | $56,673 |
| Veritex Community Bank | 17950 Preston Road - Suite 100 Dallas, TX 75252 | Full Service B&M | $132,179 |
| Veritex Community Bank | 2101 Abrams Road Dallas, TX 75214 | Full Service B&M | $150,384 |
| Veritex Community Bank | 2424 Merrick Street Fort Worth, TX 76107 | Full Service B&M | $101,520 |
| Veritex Community Bank | 2438 East Southlake Boulevard Southlake, TX 76092 | Full Service B&M | $19,559 |
| Veritex Community Bank | 2706 Oak Lawn Avenue Dallas, TX 75219 | Full Service B&M | $140,055 |
| Veritex Community Bank | 2800 W. 7th Street Fort Worth, TX 76107 | Full Service B&M | $27,503 |
| Veritex Community Bank | 3131 Turtle Creek Boulevard Dallas, TX 75219 | Full Service B&M | $32,290 |
| Veritex Community Bank | 3800 Matlock Road Arlington, TX 76015 | Full Service B&M | $35,542 |
| Veritex Community Bank | 3880 Hulen Street Fort Worth, TX 76107 | Full Service B&M | $59,718 |
| Veritex Community Bank | 4300 North Belt Line Road Irving, TX 75038 | Full Service B&M | $56,442 |
| Veritex Community Bank | 5049 West Park Boulevard Plano, TX 75093 | Full Service B&M | $125,354 |
| Veritex Community Bank | 5111 San Felipe Houston, TX 77056 | Full Service B&M | $52,154 |
| Veritex Community Bank | 6116 N. Central Expressway Dallas, TX 75206 | Full Service B&M | $50,998 |
| Veritex Community Bank | 622 Clara Barton Drive Garland, TX 75042 | Full Service B&M | $106,165 |
| Veritex Community Bank | 6330 Davis Boulevard North Richland Hills, TX 76180 | Full Service B&M | $115,926 |
| Veritex Community Bank | 7001 Boulevard 26 North Richland Hills, TX 76180 | Full Service B&M | $53,946 |
| 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 | $1,106,031 |
| Veritex Community Bank | 860 W. Airport Freeway, Suite 100 Hurst, TX 76054 | Full Service B&M | $59,307 |
For 2018, Veritex Community Bank had 22 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $145,049 |
| Net interest income | $115,978 |
| Total noninterest income | $11,139 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $2,338 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $8,801 |
| Pre-tax net operating income | $56,522 |
| Securities gains (or losses, -) | $-64 |
| Income before extraordinary items | $44,847 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $44,847 |
| Minority interest net income | $0 |
| Net income | $44,847 |
| Sale, conversion, retirement of capital stock, net | $4,051 |
| Net operating income | $44,897 |
Veritex Community Bank's gross interest income from loans was $145,049,000.
Veritex Community Bank's net interest income from loans was $115,978,000.
Veritex Community Bank's fee based income from loans was $2,338,000.
Veritex Community Bank's net income from loans was $44,847,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $29,071 |
| Provision for credit losses | $6,603 |
| Total noninterest expense | $63,992 |
| Salaries and employee benefits | $30,286 |
| Premises and equipment expense | $10,679 |
| Additional noninterest expense | $23,027 |
| Applicable income taxes | $11,611 |
| Net charge-offs | $156 |
| Cash dividends | $0 |
Veritex Community Bank's interest expense for loans was $29,071,000.
Veritex Community Bank's payroll and benefits expense were $30,286,000.
Veritex Community Bank's property, plant and equipment expenses $10,679,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 0.0% |
| HELOC loans | 0.0% |
| All other family | 0.0% |
| Commercial & industrial loans | 2.0% |
| Personal loans | 0.0% |
| Credit card loans | 0.0% |
| Other individual loans | 0.0% |
| Auto loans | 0.0% |
| Other consumer loans | 0.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $2,662,903 |
| Deposits held in domestic offices | $2,662,903 |
| Deposits by Individuals, partnerships, and corporations | $2,237,164 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $13,110 |
| Deposits by Commercial banks and other depository institutions in U.S. | $412,629 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $813,726 |
| Demand deposits | $666,757 |
| Nontransaction accounts | $1,849,177 |
| Money market deposit accounts (MMDAs) | $1,133,045 |
| Other savings deposits (excluding MMDAs) | $33,147 |
| Total time deposits | $682,984 |
| Total time and savings deposits | $1,996,146 |
| Noninterest-bearing deposits | $666,757 |
| Interest-bearing deposits | $1,996,146 |
| Retail deposits | $2,267,238 |
| IRAs and Keogh plan accounts | $24,422 |
| Brokered deposits | $234,190 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $3,207,962 |
| Cash & Balances due from depository institutions | $84,450 |
| Interest-bearing balances | $64,851 |
| Total securities | $262,695 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $2,537,497 |
| Loan and leases loss allowance | $19,255 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $78,409 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $177,343 |
| All other assets | $67,568 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $3,207,962 |
| Total Liabilities | $2,701,412 |
| Total deposits | $2,662,903 |
| Interest-bearing deposits | $1,996,146 |
| Deposits held in domestic offices | $2,662,903 |
| % insured (estimated) | $52 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $28,019 |
| Subordinated debt | $0 |
| All other liabilities | $10,490 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $2,537,497 |
| Loan and leases loss allowance | $19,255 |
| Total loans and leases (domestic) | $2,556,752 |
| All real estate loans | $1,788,883 |
| Real estate loans in domestic offices | $1,788,883 |
| Construction and development loans | $324,863 |
| Residential 1-4 family construction | $78,797 |
| Other construction, all land development and other land | $246,066 |
| Loans secured by nonfarm nonresidential properties | $1,103,032 |
| Nonfarm nonresidential secured by owner-occupied properties | $321,279 |
| Commercial real estate & other non-farm, non-residential | $781,753 |
| Multifamily residential real estate | $51,285 |
| 1-4 family residential loans | $299,175 |
| Farmland loans | $10,528 |
| Loans held in foreign offices | $0 |
| Farm loans | $412 |
| Commercial and industrial loans | $760,360 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $6,959 |
| Credit card loans | $0 |
| Related Plans | $412 |
| Consumer Auto Loans | $1,483 |
| Other loans to individuals | $5,064 |
| All other loans & leases | $153 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $153 |
| 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 | $944 |
| Non 1-4 family restructured loans & leases | $785 |
| Total loans and leases (foreign) | $0 |
Veritex Community Bank had $2,537,497,000 of loans outstanding in 2018. $1,788,883,000 of loans were in real estate loans. $324,863,000 of loans were in development loans. $51,285,000 of loans were in multifamily mortgage loans. $299,175,000 of loans were in 1-4 family mortgage loans. $412,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,483,000 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 | 465 | $137,553 | $295,813 |
| Nonfarm, nonresidential loans - <$100k | 36 | $2,101 | $58,361 |
| Nonfarm, nonresidential loans - $100-250k | 132 | $18,311 | $138,720 |
| Nonfarm, nonresidential loans - $250k-1MM | 297 | $117,141 | $394,414 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,257 | $174,176 | $138,565 |
| Commercial & Industrial, US addressed loans - <$100k | 687 | $24,293 | $35,361 |
| Commercial & Industrial, US addressed loans - $100-250k | 283 | $33,164 | $117,187 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 287 | $116,719 | $406,686 |
| Farmland loans - <$1MM | 17 | $1,641 | $96,529 |
| Farmland loans - <$100k | 6 | $209 | $34,833 |
| Farmland loans - $100-250k | 10 | $979 | $97,900 |
| Farmland loans - $250k-1MM | 1 | $453 | $453,000 |
| Agriculture operations loans - <$1MM | 8 | $412 | $51,500 |
| Agriculture operations loans - <$100k | 6 | $87 | $14,500 |
| Agriculture operations loans - $100-250k | 2 | $325 | $162,500 |