The Victory Bank Mortgage Rates, Fees & Info
Limerick, PALEI: 549300SUW02WEKP4OP52
Tax ID: 20-4916548
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Mortgage Data
Bank Data
Review & Overview
The Victory Bank is a smaller bank specializing in Home Purchase and Refi loans. The Victory Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Reading, Ocean City, Salisbury, and Lancaster among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)The Victory 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.
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Originations
121Origination Dollar Volume (All Markets)
$33,985,000Employee count
44Top 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 |
|---|---|---|---|---|---|
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 72 | $25,010,000 | $347,361 | $0 | 0.00% |
| READING, PA (FHA|USDA|VA) | 40 | $6,050,000 | $151,250 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 3 | $1,935,000 | $645,000 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 3 | $395,000 | $131,667 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $300,000 | $150,000 | $0 | 0.00% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 121 | $33,985,000 | $280,868 | $0 | 0.00% |
For 2019, The Victory Bank's most frequently originated type of loan was Conventional, with 121 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 67 | $22,505,000 | $335,896 | $0 | 0.00% |
| Refi | 45 | $10,845,000 | $241,000 | $0 | 0.00% |
| Home Improvement | 9 | $635,000 | $70,556 | $0 | 0.00% |
For 2019, The Victory Bank's most frequently cited loan purpose was Home Purchase, with 67 originations. The 2nd most popular reason was Refi, with 45 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 121 | $33,985,000 | $280,868 | $0 | 0.00% |
For 2019, The Victory Bank's most frequently cited loan duration was Other, with 121 originations.
Loan Sizing
2019 saw The Victory Bank place emphasis on $100k-200k loans with 41 originations, totaling $5,615,000 in origination value.
Applicant Income
The Victory Bank lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $150k-250k, with 21 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 121 | $33,985,000 | $280,868 | $0 | 0.00% |
The Victory Bank lent most frequently to those with DTI ratios of Exempt%, with 121 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.81%
The Victory 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 origination89.26%
The Victory Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 121 | $33,985,000 | $280,868 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The Victory Bank | 548 North Lewis Road Limerick, PA 19468 | Full Service B&M | $230,656 |
For 2019, The Victory Bank had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $14,307 |
| Net interest income | $11,224 |
| Total noninterest income | $441 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $269 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $172 |
| Pre-tax net operating income | $3,382 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $2,642 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,642 |
| Minority interest net income | $0 |
| Net income | $2,642 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,642 |
The Victory Bank's gross interest income from loans was $14,307,000.
The Victory Bank's net interest income from loans was $11,224,000.
The Victory Bank's fee based income from loans was $269,000.
The Victory Bank's net income from loans was $2,642,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $3,083 |
| Provision for credit losses | $424 |
| Total noninterest expense | $7,859 |
| Salaries and employee benefits | $4,901 |
| Premises and equipment expense | $473 |
| Additional noninterest expense | $2,485 |
| Applicable income taxes | $740 |
| Net charge-offs | $307 |
| Cash dividends | $0 |
The Victory Bank's interest expense for loans was $3,083,000.
The Victory Bank's payroll and benefits expense were $4,901,000.
The Victory Bank's property, plant and equipment expenses $473,000.
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 | $249,085 |
| Deposits held in domestic offices | $249,085 |
| Deposits by Individuals, partnerships, and corporations | $201,842 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $44,416 |
| Deposits by Commercial banks and other depository institutions in U.S. | $2,827 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $92,565 |
| Demand deposits | $81,357 |
| Nontransaction accounts | $156,520 |
| Money market deposit accounts (MMDAs) | $66,949 |
| Other savings deposits (excluding MMDAs) | $51,430 |
| Total time deposits | $38,141 |
| Total time and savings deposits | $167,728 |
| Noninterest-bearing deposits | $61,064 |
| Interest-bearing deposits | $188,021 |
| Retail deposits | $236,646 |
| IRAs and Keogh plan accounts | $4,012 |
| Brokered deposits | $372 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $279,357 |
| Cash & Balances due from depository institutions | $7,367 |
| Interest-bearing balances | $4,254 |
| Total securities | $11,084 |
| Federal funds sold & reverse repurchase | $10,803 |
| Net loans and leases | $243,303 |
| Loan and leases loss allowance | $2,213 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,298 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $105 |
| All other assets | $3,397 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $279,357 |
| Total Liabilities | $253,319 |
| Total deposits | $249,085 |
| Interest-bearing deposits | $188,021 |
| Deposits held in domestic offices | $249,085 |
| % insured (estimated) | $77 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $3,000 |
| Subordinated debt | $0 |
| All other liabilities | $1,234 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $243,303 |
| Loan and leases loss allowance | $2,213 |
| Total loans and leases (domestic) | $245,516 |
| All real estate loans | $198,083 |
| Real estate loans in domestic offices | $198,083 |
| Construction and development loans | $17,443 |
| Residential 1-4 family construction | $11,135 |
| Other construction, all land development and other land | $6,308 |
| Loans secured by nonfarm nonresidential properties | $101,794 |
| Nonfarm nonresidential secured by owner-occupied properties | $63,572 |
| Commercial real estate & other non-farm, non-residential | $38,222 |
| Multifamily residential real estate | $18,700 |
| 1-4 family residential loans | $58,258 |
| Farmland loans | $1,888 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $37,138 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $9,934 |
| Credit card loans | $0 |
| Related Plans | $2,281 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $7,653 |
| All other loans & leases | $1,165 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $1,165 |
| 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 | $126 |
| Non 1-4 family restructured loans & leases | $126 |
| Total loans and leases (foreign) | $0 |
The Victory Bank had $243,303,000 of loans outstanding in 2019. $198,083,000 of loans were in real estate loans. $17,443,000 of loans were in development loans. $18,700,000 of loans were in multifamily mortgage loans. $58,258,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 | 317 | $74,088 | $233,716 |
| Nonfarm, nonresidential loans - <$100k | 53 | $2,600 | $49,057 |
| Nonfarm, nonresidential loans - $100-250k | 123 | $16,239 | $132,024 |
| Nonfarm, nonresidential loans - $250k-1MM | 141 | $55,249 | $391,837 |
| Commercial & Industrial, US addressed loans - <$1MM | 343 | $31,738 | $92,531 |
| Commercial & Industrial, US addressed loans - <$100k | 171 | $4,202 | $24,573 |
| Commercial & Industrial, US addressed loans - $100-250k | 98 | $8,109 | $82,745 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 74 | $19,427 | $262,527 |
| Farmland loans - <$1MM | 9 | $1,441 | $160,111 |
| Farmland loans - <$100k | 2 | $141 | $70,500 |
| Farmland loans - $100-250k | 2 | $105 | $52,500 |
| Farmland loans - $250k-1MM | 5 | $1,195 | $239,000 |