The Victory Bank Mortgage Rates, Fees & Info

Limerick, PA

LEI: 549300SUW02WEKP4OP52

Tax ID: 20-4916548

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


Originations

121

Origination Dollar Volume (All Markets)

$33,985,000

Employee count

44

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
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%
The Victory Bank's top markets include Philadelphia, Reading, Ocean City, Salisbury, and Lancaster among others.

Their top states include:
  • Pennsylvania (FHA|USDA|VA)
  • New Jersey (FHA|USDA|VA)
  • Delaware (FHA|USDA|VA)
  • 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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 41 $5,615,000 $136,951 $0 0.00%
    $200k-400k 30 $8,040,000 $268,000 $0 0.00%
    $100,000 or less 26 $1,730,000 $66,538 $0 0.00%
    $400k-600k 11 $5,935,000 $539,545 $0 0.00%
    $600k-1MM 10 $7,290,000 $729,000 $0 0.00%
    $1MM+ 3 $5,375,000 $1,791,667 $0 0.00%

    2019 saw The Victory Bank place emphasis on $100k-200k loans with 41 originations, totaling $5,615,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 25 $4,915,000 $196,600 $0 0.00%
    $150k-250k 21 $4,405,000 $209,762 $0 0.00%
    $250k+ 20 $5,430,000 $271,500 $0 0.00%
    $50k-75k 8 $1,820,000 $227,500 $0 0.00%
    $50k or less 6 $620,000 $103,333 $0 0.00%
    $75k-100k 4 $930,000 $232,500 $0 0.00%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 78 $17,350,000 $222,436 $0 0.00%
    Not applicable 36 $15,700,000 $436,111 $0 0.00%
    Asian 6 $890,000 $148,333 $0 0.00%
    Black 1 $45,000 $45,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.81%

    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 origination
    89.26%

    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

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $2,855,000 $2,855,000
    Multifamily:Site-Built 9 $3,475,000 $386,111
    Single Family (1-4 Units):Site-Built 111 $27,655,000 $249,144

    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