Bank Of Whittier Mortgage Rates, Fees & Info

Whittier, CA

LEI: 549300Q4JBLTKDC7J303

Tax ID: 95-3741119

4.6 stars - out of 5 stars, based on 17 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Bank Of Whittier is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. Bank Of Whittier has a high proportion of conventional loans. Their top markets include Dallas, New York, Los Angeles, Albuquerque, and San Francisco among others. Bank Of Whittier has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Bank Of Whittier is typically an average fee lendor.


Originations

299

Origination Dollar Volume (All Markets)

$99,045,000

Employee count

24

Relative Rate

Bank Of Whittier's average 30 year fixed rate mortgage of loans were 3.02%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.13%.

Relative Fees

Bank Of Whittier's average total fees for a 30 year fixed rate mortgage are $5,494.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 107 $35,475,000 $331,542 $5,116 2.78%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 32 $12,790,000 $399,688 $6,711 2.91%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 11 $6,295,000 $572,273 $5,672 2.77%
ALBUQUERQUE, NM (FHA|USDA|VA) 14 $5,010,000 $357,857 $5,591 2.81%
San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) 7 $3,555,000 $507,857 $6,592 3.26%
ST. LOUIS, MO-IL (FHA|USDA|VA) 6 $2,650,000 $441,667 $2,700 2.88%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 10 $2,190,000 $219,000 $4,168 3.06%
BATON ROUGE, LA (FHA|USDA|VA) 13 $2,055,000 $158,077 $5,397 2.59%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 7 $2,035,000 $290,714 $3,126 2.74%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 3 $1,785,000 $595,000 $6,592 3.43%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 7 $1,515,000 $216,429 $4,285 2.98%
LAS VEGAS-HENDERSON-PARADISE, NV (FHA|USDA|VA) 5 $1,425,000 $285,000 $4,098 3.14%
KANSAS CITY, MO-KS (FHA|USDA|VA) 5 $1,335,000 $267,000 $3,462 2.71%
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (FHA|USDA|VA) 3 $1,305,000 $435,000 $4,699 2.83%
HOUSTON-THE WOODLANDS-SUGAR LAND, TX (FHA|USDA|VA) 4 $1,170,000 $292,500 $5,436 2.73%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $1,150,000 $575,000 $7,492 3.05%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 4 $1,000,000 $250,000 $8,150 3.13%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 3 $915,000 $305,000 $8,801 2.92%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 3 $875,000 $291,667 $4,267 2.90%
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) 2 $810,000 $405,000 $4,325 3.78%
FARGO, ND-MN (FHA|USDA|VA) 2 $750,000 $375,000 $2,573 2.59%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $740,000 $370,000 $3,260 2.70%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $715,000 $715,000 $18,738 2.88%
URBAN HONOLULU, HI (FHA|USDA|VA) 1 $615,000 $615,000 $13,495 2.78%
CHARLESTON, WV (FHA|USDA|VA) 1 $545,000 $545,000 $2,495 2.38%
LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 2 $510,000 $255,000 $1,796 2.73%
MORGANTOWN, WV (FHA|USDA|VA) 2 $510,000 $255,000 $2,813 2.53%
PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $505,000 $505,000 $2,666 3.15%
COLUMBUS, OH (FHA|USDA|VA) 2 $490,000 $245,000 $3,817 2.49%
RENO, NV (FHA|USDA|VA) 2 $450,000 $225,000 $1,710 2.68%
TUCSON, AZ (FHA|USDA|VA) 1 $415,000 $415,000 $3,863 2.60%
ANCHORAGE, AK (FHA|USDA|VA) 1 $395,000 $395,000 $3,238 3.10%
ANNISTON-OXFORD, AL (FHA|USDA|VA) 1 $385,000 $385,000 $2,140 2.35%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 2 $360,000 $180,000 $5,064 2.85%
EVANSVILLE, IN-KY (FHA|USDA|VA) 1 $335,000 $335,000 $4,375 3.85%
Concord, NH (FHA|USDA|VA) 1 $325,000 $325,000 $4,127 2.78%
COLUMBIA, MO (FHA|USDA|VA) 1 $325,000 $325,000 $1,292 2.98%
HATTIESBURG, MS (FHA|USDA|VA) 1 $315,000 $315,000 $5,178 2.88%
Emporia, KS (FHA|USDA|VA) 1 $305,000 $305,000 $1,382 2.50%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $305,000 $305,000 $3,775 3.85%
COLLEGE STATION-BRYAN, TX (FHA|USDA|VA) 1 $305,000 $305,000 $4,259 2.75%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $295,000 $295,000 $2,880 2.55%
SALT LAKE CITY, UT (FHA|USDA|VA) 1 $295,000 $295,000 $2,215 2.23%
BROWNSVILLE-HARLINGEN, TX (FHA|USDA|VA) 1 $285,000 $285,000 $3,084 2.35%
OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $275,000 $275,000 $996 2.38%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 2 $270,000 $135,000 $1,276 2.30%
BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) 2 $250,000 $125,000 $5,116 3.10%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 1 $245,000 $245,000 $3,067 2.78%
TOLEDO, OH (FHA|USDA|VA) 1 $245,000 $245,000 $7,068 2.95%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $205,000 $205,000 $3,877 2.35%
NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 1 $205,000 $205,000 $1,383 2.78%
Tupelo, MS (FHA|USDA|VA) 1 $205,000 $205,000 $2,312 2.38%
YORK-HANOVER, PA (FHA|USDA|VA) 1 $195,000 $195,000 $2,518 2.50%
SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $195,000 $195,000 $5,208 3.30%
BAKERSFIELD, CA (FHA|USDA|VA) 1 $175,000 $175,000 $6,508 3.00%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 1 $155,000 $155,000 $2,581 2.80%
SYRACUSE, NY (FHA|USDA|VA) 1 $155,000 $155,000 $2,806 3.13%
CLEVELAND-ELYRIA, OH (FHA|USDA|VA) 1 $135,000 $135,000 $1,653 2.63%
BISMARCK, ND (FHA|USDA|VA) 1 $125,000 $125,000 $1,341 3.38%
KILLEEN-TEMPLE, TX (FHA|USDA|VA) 1 $125,000 $125,000 $6,963 3.20%
ELMIRA, NY (FHA|USDA|VA) 1 $65,000 $65,000 $1,889 2.45%
ODESSA, TX (FHA|USDA|VA) 1 $5,000 $5,000 $0 3.85%

Bank Of Whittier's top markets include Dallas, New York, Los Angeles, Albuquerque, and San Francisco among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 299 $99,045,000 $331,254 $5,040 2.84%

For the 2021 period, Bank Of Whittier's most frequently originated loan type of loans were Conventional, with 299 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 120 $44,100,000 $367,500 $5,587 3.01%
Refi 114 $33,800,000 $296,491 $3,972 2.63%
Cash Out Refi 65 $21,145,000 $325,308 $5,943 2.89%

For the 2021, Bank Of Whittier's most frequently cited loan purpose of loans were Home Purchase, with 120 originations. The 2nd most popular reason of loans were Refi, with 114 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 151 $52,095,000 $345,000 $5,494 3.02%
15 Year 121 $36,375,000 $300,620 $4,654 2.64%
20 Year 16 $7,840,000 $490,000 $5,303 2.95%
10 Year 11 $2,735,000 $248,636 $2,733 2.46%

For the 2021, Bank Of Whittier's most frequently cited loan length of loans were 30 Year, with 151 originations. The 2nd most popular length of loans were 15 Year, with 121 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 119 $35,775,000 $300,630
$1k-2k 50 $15,510,000 $310,200
$3k-4k 50 $14,310,000 $286,200
$2k-3k 39 $11,965,000 $306,795
$5k+ 38 $18,860,000 $496,316

$5,494 of loans were Bank Of Whittier's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 119 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 129 $42,505,000 $329,496
3-4% 95 $35,145,000 $369,947
<2.5% 74 $20,990,000 $283,649
4-5% 1 $405,000 $405,000

During 2021, Bank Of Whittier's average interest rate of loans were 3.02%, while their most frequently originated rate bucket of loans were 2.5-3%, with 129 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 136 $39,080,000 $287,353 $4,407 2.77%
$100k-200k 71 $11,215,000 $157,958 $4,221 2.84%
$400k-600k 65 $31,785,000 $489,000 $6,153 2.88%
$600k-1MM 14 $9,930,000 $709,286 $8,536 3.22%
$100,000 or less 9 $635,000 $70,556 $2,274 2.81%
$1MM+ 4 $6,400,000 $1,600,000 $19,790 3.16%

2021 saw Bank Of Whittier place emphasis on $200k-400k loans with 136 originations, totaling $39,080,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 86 $26,320,000 $306,047 $4,432 2.74%
$150k-250k 79 $26,575,000 $336,392 $5,436 2.86%
$250k+ 74 $32,610,000 $440,676 $6,067 2.97%
$75k-100k 30 $8,520,000 $284,000 $4,739 2.79%
$50k-75k 16 $3,000,000 $187,500 $3,375 2.88%
$50k or less 14 $2,020,000 $144,286 $3,869 2.75%

Bank Of Whittier lent most frequently to those with incomes in the $100k-150k range, with 86 originations. The second most popular income band? $150k-250k, with 79 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 75 $25,785,000 $343,800 $4,578 2.84%
30-36% 69 $22,085,000 $320,072 $4,763 2.83%
<20% 54 $13,620,000 $252,222 $4,529 2.71%
39% 16 $7,980,000 $498,750 $7,760 2.93%
41% 13 $3,665,000 $281,923 $4,972 2.92%
38% 11 $4,085,000 $371,364 $4,955 3.01%
37% 10 $4,420,000 $442,000 $6,271 3.03%
40% 10 $3,470,000 $347,000 $4,087 2.92%
43% 9 $2,635,000 $292,778 $3,541 2.90%
36% 9 $2,285,000 $253,889 $4,614 2.81%
44% 8 $3,010,000 $376,250 $8,721 2.85%
42% 6 $2,360,000 $393,333 $7,125 2.84%
45% 4 $1,130,000 $282,500 $7,768 2.77%
50-60% 3 $1,555,000 $518,333 $4,702 3.33%
46% 1 $305,000 $305,000 $1,295 2.50%
>60% 1 $655,000 $655,000 $9,563 2.68%

Bank Of Whittier lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 69 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Asian 191 $64,605,000 $338,246 $5,140 2.85%
Not provided 44 $14,040,000 $319,091 $5,288 2.89%
White 30 $10,100,000 $336,667 $3,628 2.81%
Asian Indian 15 $4,375,000 $291,667 $5,239 2.71%
Black 10 $2,930,000 $293,000 $4,551 2.88%
Other Asian 8 $2,580,000 $322,500 $6,312 2.76%
Native Hawaiian 1 $415,000 $415,000 $9,329 2.95%

Approval Rates

Total approvals of all applications
86.22%

Bank Of Whittier has an average approval rate.

Pick Rate

Approvals leading to origination
74.42%

Bank Of Whittier has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 299 $99,045,000 $331,254

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
299 $99,045,000 $331,254

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 35 $11,665,000 $333,286 $4,702 2.88%
40-60% 57 $18,395,000 $322,719 $4,110 2.70%
60-80% 148 $48,450,000 $327,365 $5,601 2.80%
80-100% 47 $18,815,000 $400,319 $5,112 2.94%
Under 20% 12 $1,720,000 $143,333 $3,083 3.52%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 16.7%
BANK OF THE WEST VA mortgage Trouble during payment process 1 3.3%
BANK OF THE WEST Other type of mortgage Trouble during payment process 2 6.7%
BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 1 3.3%
BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 3.3%
BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.3%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 3 10.0%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 4 13.3%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 6.7%
BANK OF THE WEST FHA mortgage Trouble during payment process 1 3.3%
BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 2 6.7%
BANK OF THE WEST Conventional home mortgage Closing on a mortgage 1 3.3%
BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 20.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Bank of Whittier, National Association 1431 East Spring Valley Road Richardson, TX 75081 Full Service B&M $8,828
Bank of Whittier, National Association 15141 East Whittier Boulevard Whittier, CA 90603 Full Service B&M $137,150

For 2021, Bank Of Whittier had 2 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $1,311
Net interest income $422
Total noninterest income $3,857
Gross Fiduciary activities income $0
Service charges on deposit accounts $8
Trading account gains and fees $0
Additional Noninterest Income $3,849
Pre-tax net operating income $1,886
Securities gains (or losses, -) $0
Income before extraordinary items $1,361
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $1,361
Minority interest net income $0
Net income $1,361
Sale, conversion, retirement of capital stock, net $1,632
Net operating income $1,361

Bank Of Whittier's gross interest income from loans was $1,311,000.
Bank Of Whittier's net interest income from loans was $422,000.
Bank Of Whittier's fee based income from loans was $8,000.
Bank Of Whittier's net income from loans was $1,361,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $889
Provision for credit losses $250
Total noninterest expense $2,143
Salaries and employee benefits $795
Premises and equipment expense $299
Additional noninterest expense $1,049
Applicable income taxes $525
Net charge-offs $-34
Cash dividends $0

Bank Of Whittier's interest expense for loans was $889,000.
Bank Of Whittier's payroll and benefits expense were $795,000.
Bank Of Whittier's property, plant and equipment expenses $299,000.

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 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 0.0%
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 $144,352
Deposits held in domestic offices $144,352
Deposits by Individuals, partnerships, and corporations $133,807
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $10,054
Deposits by Commercial banks and other depository institutions in U.S. $491
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $22,740
Demand deposits $13,157
Nontransaction accounts $121,612
Money market deposit accounts (MMDAs) $5,351
Other savings deposits (excluding MMDAs) $6,987
Total time deposits $109,274
Total time and savings deposits $131,195
Noninterest-bearing deposits $13,157
Interest-bearing deposits $131,195
Retail deposits $87,359
IRAs and Keogh plan accounts $7,225
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $164,678
Cash & Balances due from depository institutions $117,747
Interest-bearing balances $117,022
Total securities $0
Federal funds sold & reverse repurchase $0
Net loans and leases $43,525
Loan and leases loss allowance $1,494
Trading account assets $0
Bank premises and fixed assets $55
Other real estate owned $0
Goodwill and other intangibles $2,723
All other assets $628

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $164,678
Total Liabilities $145,194
Total deposits $144,352
Interest-bearing deposits $131,195
Deposits held in domestic offices $144,352
% insured (estimated) $75
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $842

Issued Loan Types

Type Value (in 000's)
Net loans and leases $43,525
Loan and leases loss allowance $1,494
Total loans and leases (domestic) $45,019
All real estate loans $41,431
Real estate loans in domestic offices $41,431
Construction and development loans $0
Residential 1-4 family construction $0
Other construction, all land development and other land $0
Loans secured by nonfarm nonresidential properties $25,040
Nonfarm nonresidential secured by owner-occupied properties $13,680
Commercial real estate & other non-farm, non-residential $11,360
Multifamily residential real estate $1,032
1-4 family residential loans $15,359
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $3,097
To non-U.S. addressees $0
Loans to individuals $491
Credit card loans $0
Related Plans $0
Consumer Auto Loans $491
Other loans to individuals $0
All other loans & leases $0
Loans to foreign governments and official institutions $0
Other loans $0
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 $0
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

Bank of Whittier had $43,525,000 of loans outstanding in 2021. $41,431,000 of loans were in real estate loans. $0 of loans were in development loans. $1,032,000 of loans were in multifamily mortgage loans. $15,359,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $491,000 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 32 $7,931 $247,844
Nonfarm, nonresidential loans - <$100k 3 $166 $55,333
Nonfarm, nonresidential loans - $100-250k 6 $955 $159,167
Nonfarm, nonresidential loans - $250k-1MM 23 $6,810 $296,087
Commercial & Industrial, US addressed loans - <$1MM 67 $3,093 $46,164
Commercial & Industrial, US addressed loans - <$100k 62 $1,305 $21,048
Commercial & Industrial, US addressed loans - $100-250k 2 $230 $115,000
Commercial & Industrial, US addressed loans - $250k-1MM 3 $1,558 $519,333