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, Houston, Austin, San Antonio, and Athens among others. We have data for 38 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 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| Home Equity Line of Credit (HELOC) | 6.27% | 4/21/24 |
| 30 Year Conventional Purchase | 6.24% | 4/21/24 |
| 30 Year Conventional Refi | 5.95% | 4/21/24 |
| 30 Year Cash-out Refi | 6.15% | 4/21/24 |
| 15 Year Conventional Purchase | 5.73% | 4/21/24 |
| 15 Year Conventional Refi | 5.42% | 4/21/24 |
| 15 Year Cash-out Refi | 5.42% | 4/21/24 |
| 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
498Origination Dollar Volume (All Markets)
$733,480,000Employee count
636Top 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) | 298 | $338,370,000 | $1,135,470 | $0 | 0.00% |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) | 115 | $238,975,000 | $2,078,043 | $0 | 0.00% |
| AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) | 14 | $66,620,000 | $4,758,571 | $0 | 0.00% |
| SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) | 3 | $27,045,000 | $9,015,000 | $0 | 0.00% |
| Outside of Metro Areas | 13 | $22,645,000 | $1,741,923 | $0 | 0.00% |
| Athens, TX (FHA|USDA|VA) | 14 | $12,930,000 | $923,571 | $0 | 0.00% |
| BEAUMONT-PORT ARTHUR, TX (FHA|USDA|VA) | 1 | $10,005,000 | $10,005,000 | $0 | 0.00% |
| COLORADO SPRINGS, CO (FHA|USDA|VA) | 1 | $1,905,000 | $1,905,000 | $0 | 0.00% |
| Gainesville, TX (FHA|USDA|VA) | 3 | $1,365,000 | $455,000 | $0 | 0.00% |
| HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) | 1 | $1,215,000 | $1,215,000 | $0 | 0.00% |
| Granbury, TX (FHA|USDA|VA) | 3 | $1,095,000 | $365,000 | $0 | 0.00% |
| Bonham, TX (FHA|USDA|VA) | 1 | $1,055,000 | $1,055,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $925,000 | $925,000 | $0 | 0.00% |
| SAN LUIS OBISPO-PASO ROBLES, CA (FHA|USDA|VA) | 1 | $785,000 | $785,000 | $0 | 0.00% |
| SHERMAN-DENISON, TX (FHA|USDA|VA) | 3 | $695,000 | $231,667 | $0 | 0.00% |
| Huntsville, TX (FHA|USDA|VA) | 1 | $575,000 | $575,000 | $0 | 0.00% |
| MCALLEN-EDINBURG-MISSION, TX (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $0 | 0.00% |
| NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) | 1 | $545,000 | $545,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 1 | $525,000 | $525,000 | $0 | 0.00% |
| JACKSONVILLE, FL (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $0 | 0.00% |
| Sulphur Springs, TX (FHA|USDA|VA) | 1 | $475,000 | $475,000 | $0 | 0.00% |
| RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $0 | 0.00% |
| Heber, UT (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $0 | 0.00% |
| COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) | 1 | $405,000 | $405,000 | $0 | 0.00% |
| NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) | 1 | $355,000 | $355,000 | $0 | 0.00% |
| Starkville, MS (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $345,000 | $345,000 | $0 | 0.00% |
| CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| LUBBOCK, TX (FHA|USDA|VA) | 2 | $240,000 | $120,000 | $0 | 0.00% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| TYLER, TX (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| LOUISVILLE, KY (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| Ruston, LA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| BATON ROUGE, LA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Stephenville, TX (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| ABILENE, TX (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $0 | 0.00% |
Similar Lenders
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 489 | $729,775,000 | $1,492,382 | $0 | 0.00% |
| VA | 9 | $3,705,000 | $411,667 | $0 | 0.00% |
For 2020, Veritex Community Bank's most frequently originated type of loan was Conventional, with 489 originations. Their 2nd most popular type was VA, with 9 originations.
Loan Reason
For 2020, Veritex Community Bank's most frequently cited loan purpose was Home Purchase, with 236 originations. The 2nd most popular reason was Refi, with 157 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 498 | $733,480,000 | $1,472,851 | $0 | 0.00% |
For 2020, Veritex Community Bank's most frequently cited loan duration was Other, with 498 originations.
Loan Sizing
2020 saw Veritex Community Bank place emphasis on $200k-400k loans with 160 originations, totaling $47,220,000 in origination value.
Applicant Income
Veritex Community Bank lent most frequently to those with incomes in the $250k+ range, with 148 originations. The second most popular income band? $150k-250k, with 92 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 498 | $733,480,000 | $1,472,851 | $0 | 0.00% |
Veritex Community Bank lent most frequently to those with DTI ratios of Exempt%, with 498 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.89%
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 origination83.94%
Veritex Community Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 498 | $733,480,000 | $1,472,851 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| VERITAS FUNDING, LLC | Conventional home mortgage | Closing on a mortgage | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Veritex Community Bank | 1001 Main Street Garland, TX 75040 | Full Service B&M | $165,477 |
| Veritex Community Bank | 102 West Parkwood Friendswood, TX 77546 | Full Service B&M | $59,022 |
| Veritex Community Bank | 109 North Post Oak Lane, Suite 100 Houston, TX 77024 | Full Service B&M | $366,491 |
| Veritex Community Bank | 1102 Kingwood Drive, Suite 101 Kingwood, TX 77339 | Full Service B&M | $77,886 |
| Veritex Community Bank | 1301 East Campbell Road Richardson, TX 75081 | Full Service B&M | $145,925 |
| Veritex Community Bank | 1438 Oates Drive Mesquite, TX 75150 | Full Service B&M | $47,913 |
| Veritex Community Bank | 1455 Research Forest Drive Shenandoah, TX 77380 | Full Service B&M | $49,506 |
| Veritex Community Bank | 14885 Preston Rd Dallas, TX 75254 | Full Service B&M | $23,126 |
| Veritex Community Bank | 1518 Legacy Dr Ste 100 Frisco, TX 75034 | Full Service B&M | $83,665 |
| Veritex Community Bank | 16771 Dallas Parkway Addison, TX 75001 | Full Service B&M | $20,912 |
| Veritex Community Bank | 17950 Preston Road - Suite 100 Dallas, TX 75252 | Full Service B&M | $154,380 |
| Veritex Community Bank | 1900 Colonel Sanders Ln Louisville, KY 40213 | Full Service B&M | $22,520 |
| Veritex Community Bank | 201 West Main Street Honey Grove, TX 75446 | Full Service B&M | $42,083 |
| Veritex Community Bank | 2101 Abrams Road Dallas, TX 75214 | Full Service B&M | $156,621 |
| Veritex Community Bank | 2408 Cedar Springs Road Dallas, TX 75201 | Full Service B&M | $41,425 |
| Veritex Community Bank | 2424 Bay Area Blvd Houston, TX 77058 | Full Service B&M | $40,435 |
| Veritex Community Bank | 2424 Merrick Street Fort Worth, TX 76107 | Full Service B&M | $109,314 |
| Veritex Community Bank | 2438 East Southlake Boulevard Southlake, TX 76092 | Full Service B&M | $8,728 |
| Veritex Community Bank | 2706 Oak Lawn Avenue Dallas, TX 75219 | Full Service B&M | $172,640 |
| Veritex Community Bank | 2800 W. 7th Street Fort Worth, TX 76107 | Full Service B&M | $28,112 |
| Veritex Community Bank | 2900 North Loop West, Ste. 200 Houston, TX 77092 | Limited, Administrative | $0 |
| Veritex Community Bank | 3131 Turtle Creek Boulevard, Suite 100 Dallas, TX 75219 | Full Service B&M | $1,922 |
| Veritex Community Bank | 3800 Matlock Road Arlington, TX 76015 | Full Service B&M | $43,501 |
| Veritex Community Bank | 3880 Hulen Street Fort Worth, TX 76107 | Full Service B&M | $60,016 |
| Veritex Community Bank | 4000 Greenbriar St Houston, TX 77098 | Full Service B&M | $564,502 |
| Veritex Community Bank | 4300 North Belt Line Road Irving, TX 75038 | Full Service B&M | $125,148 |
| Veritex Community Bank | 5049 West Park Boulevard Plano, TX 75093 | Full Service B&M | $181,836 |
| Veritex Community Bank | 5111 San Felipe Street Houston, TX 77056 | Full Service B&M | $154,585 |
| Veritex Community Bank | 5900 Memorial Dr., Suite 100 Houston, TX 77007 | Full Service B&M | $38,426 |
| Veritex Community Bank | 6116 N. Central Expressway Dallas, TX 75206 | Full Service B&M | $94,256 |
| Veritex Community Bank | 6330 Davis Boulevard North Richland Hills, TX 76180 | Full Service B&M | $128,269 |
| Veritex Community Bank | 7001 Boulevard 26 North Richland Hills, TX 76180 | Full Service B&M | $52,113 |
| Veritex Community Bank | 7500 San Felipe Street Houston, TX 77063 | Full Service B&M | $230,644 |
| Veritex Community Bank | 7701 Legacy Dr Plano, TX 75024 | Full Service B&M | $76,492 |
| 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 | $2,395,331 |
| Veritex Community Bank | 860 W. Airport Freeway, Suite 100 Hurst, TX 76054 | Full Service B&M | $67,040 |
| Veritex Community Bank | 8611 Memorial Drive Houston, TX 77024 | Limited, Drive-thru | $0 |
| Veritex Community Bank | 908 Houston Street Cleveland, TX 77328 | Full Service B&M | $58,817 |
| Veritex Community Bank | 9545 Katy Freeway Ste 100 Houston, TX 77024 | Full Service B&M | $54,123 |
For 2020, Veritex Community Bank had 40 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $321,817 |
| Net interest income | $274,294 |
| Total noninterest income | $42,050 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $10,472 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $31,578 |
| Pre-tax net operating income | $94,878 |
| Securities gains (or losses, -) | $3,095 |
| Income before extraordinary items | $81,694 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $81,694 |
| Minority interest net income | $0 |
| Net income | $81,694 |
| Sale, conversion, retirement of capital stock, net | $7,983 |
| Net operating income | $79,125 |
Veritex Community Bank's gross interest income from loans was $321,817,000.
Veritex Community Bank's net interest income from loans was $274,294,000.
Veritex Community Bank's fee based income from loans was $10,472,000.
Veritex Community Bank's net income from loans was $81,694,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $47,523 |
| Provision for credit losses | $56,640 |
| Total noninterest expense | $164,826 |
| Salaries and employee benefits | $78,841 |
| Premises and equipment expense | $14,185 |
| Additional noninterest expense | $71,800 |
| Applicable income taxes | $16,279 |
| Net charge-offs | $20,527 |
| Cash dividends | $65,000 |
Veritex Community Bank's interest expense for loans was $47,523,000.
Veritex Community Bank's payroll and benefits expense were $78,841,000.
Veritex Community Bank's property, plant and equipment expenses $14,185,000.
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 | 2.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 2.0% |
| Personal loans | 10.0% |
| Credit card loans | 0.0% |
| Other individual loans | 10.0% |
| Auto loans | 2.0% |
| Other consumer loans | 11.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $6,643,316 |
| Deposits held in domestic offices | $6,643,316 |
| Deposits by Individuals, partnerships, and corporations | $5,234,162 |
| Deposits by U.S. Government | $39 |
| Deposits by States and political subdivisions in the U.S. | $624,084 |
| Deposits by Commercial banks and other depository institutions in U.S. | $785,031 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $2,680,679 |
| Demand deposits | $2,484,580 |
| Nontransaction accounts | $3,962,637 |
| Money market deposit accounts (MMDAs) | $2,398,526 |
| Other savings deposits (excluding MMDAs) | $106,820 |
| Total time deposits | $1,457,291 |
| Total time and savings deposits | $4,158,736 |
| Noninterest-bearing deposits | $2,227,569 |
| Interest-bearing deposits | $4,415,747 |
| Retail deposits | $5,917,433 |
| IRAs and Keogh plan accounts | $68,124 |
| Brokered deposits | $200,301 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $8,817,544 |
| Cash & Balances due from depository institutions | $230,825 |
| Interest-bearing balances | $186,488 |
| Total securities | $1,066,564 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $6,699,828 |
| Loan and leases loss allowance | $105,084 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $129,938 |
| Other real estate owned | $2,337 |
| Goodwill and other intangibles | $432,573 |
| All other assets | $255,479 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $8,817,544 |
| Total Liabilities | $7,482,959 |
| Total deposits | $6,643,316 |
| Interest-bearing deposits | $4,415,747 |
| Deposits held in domestic offices | $6,643,316 |
| % insured (estimated) | $53 |
| Federal funds purchased and repurchase agreements | $2,225 |
| Trading liabilities | $0 |
| Other borrowed funds | $777,718 |
| Subordinated debt | $0 |
| All other liabilities | $59,700 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $6,699,828 |
| Loan and leases loss allowance | $105,084 |
| Total loans and leases (domestic) | $6,804,912 |
| All real estate loans | $4,292,937 |
| Real estate loans in domestic offices | $4,292,937 |
| Construction and development loans | $696,970 |
| Residential 1-4 family construction | $107,202 |
| Other construction, all land development and other land | $589,768 |
| Loans secured by nonfarm nonresidential properties | $2,622,593 |
| Nonfarm nonresidential secured by owner-occupied properties | $718,461 |
| Commercial real estate & other non-farm, non-residential | $1,904,132 |
| Multifamily residential real estate | $424,962 |
| 1-4 family residential loans | $534,568 |
| Farmland loans | $13,844 |
| Loans held in foreign offices | $0 |
| Farm loans | $6 |
| Commercial and industrial loans | $1,762,852 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $12,894 |
| Credit card loans | $0 |
| Related Plans | $2,727 |
| Consumer Auto Loans | $1,260 |
| Other loans to individuals | $8,907 |
| All other loans & leases | $736,223 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $736,223 |
| 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 | $10,166 |
| Non 1-4 family restructured loans & leases | $10,013 |
| Total loans and leases (foreign) | $0 |
Veritex Community Bank had $6,699,828,000 of loans outstanding in 2020. $4,292,937,000 of loans were in real estate loans. $696,970,000 of loans were in development loans. $424,962,000 of loans were in multifamily mortgage loans. $534,568,000 of loans were in 1-4 family mortgage loans. $6,000 of loans were in farm loans. $0 of loans were in credit card loans. $1,260,000 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 | 658 | $193,692 | $294,365 |
| Nonfarm, nonresidential loans - <$100k | 43 | $2,053 | $47,744 |
| Nonfarm, nonresidential loans - $100-250k | 125 | $16,063 | $128,504 |
| Nonfarm, nonresidential loans - $250k-1MM | 490 | $175,576 | $358,318 |
| Commercial & Industrial, US addressed loans - <$1MM | 4,021 | $413,393 | $102,809 |
| Commercial & Industrial, US addressed loans - <$100k | 2,391 | $70,473 | $29,474 |
| Commercial & Industrial, US addressed loans - $100-250k | 780 | $93,955 | $120,455 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 850 | $248,965 | $292,900 |
| Farmland loans - <$1MM | 14 | $2,198 | $157,000 |
| Farmland loans - <$100k | 4 | $193 | $48,250 |
| Farmland loans - $100-250k | 5 | $738 | $147,600 |
| Farmland loans - $250k-1MM | 5 | $1,267 | $253,400 |
| Agriculture operations loans - <$1MM | 1 | $6 | $6,000 |
| Agriculture operations loans - <$100k | 1 | $6 | $6,000 |