Veritex Community Bank Mortgage Rates, Fees & Info
Dallas, TXLEI: 549300Q2EZNO3H86ED06
Tax ID: 76-0752296
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Mortgage Data
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: Houston, Dallas, San Antonio, Austin, and Orlando among others. We have data for 48 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
544Origination Dollar Volume (All Markets)
$899,890,000Employee count
693Top 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 |
|---|---|---|---|---|---|
| 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% |
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 | 538 | $897,630,000 | $1,668,457 | $0 | 0.00% |
| VA | 6 | $2,260,000 | $376,667 | $0 | 0.00% |
For 2021, Veritex Community Bank's most frequently originated type of loan was Conventional, with 538 originations. Their 2nd most popular type was VA, with 6 originations.
Loan Reason
For 2021, Veritex Community Bank's most frequently cited loan purpose was Home Purchase, with 292 originations. The 2nd most popular reason was 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 2021, Veritex Community Bank's most frequently cited loan duration was Other, with 544 originations.
Loan Sizing
2021 saw Veritex Community Bank place emphasis on $200k-400k loans with 148 originations, totaling $44,040,000 in origination value.
Applicant Income
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
Approval Rates
Total approvals of all applications94.76%
Veritex Community Bank has an average approval rate.
Pick Rate
Approvals leading to origination89.71%
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 |
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 | 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 Bay Area Blvd Houston, TX 77058 | Full Service B&M | $34,579 |
| 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 |
| 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 |
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 |