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 Refi and Home Purchase loans. The Victory Bank has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Reading, Ocean City, Salisbury, and Atlantic City among others. We have data for 13 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
124Origination Dollar Volume (All Markets)
$35,370,000Employee count
45Top 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) | 73 | $23,835,000 | $326,507 | $0 | 0.00% |
| READING, PA (FHA|USDA|VA) | 33 | $6,195,000 | $187,727 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 4 | $1,630,000 | $407,500 | $0 | 0.00% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 2 | $740,000 | $370,000 | $0 | 0.00% |
| ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) | 2 | $560,000 | $280,000 | $0 | 0.00% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $510,000 | $255,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $0 | 0.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $0 | 0.00% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| PITTSBURGH, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $0 | 0.00% |
| NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 124 | $35,370,000 | $285,242 | $0 | 0.00% |
For 2020, The Victory Bank's most frequently originated type of loan was Conventional, with 124 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Refi | 80 | $23,900,000 | $298,750 | $0 | 0.00% |
| Home Purchase | 40 | $10,600,000 | $265,000 | $0 | 0.00% |
| Home Improvement | 4 | $870,000 | $217,500 | $0 | 0.00% |
For 2020, The Victory Bank's most frequently cited loan purpose was Refi, with 80 originations. The 2nd most popular reason was Home Purchase, with 40 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 124 | $35,370,000 | $285,242 | $0 | 0.00% |
For 2020, The Victory Bank's most frequently cited loan duration was Other, with 124 originations.
Loan Sizing
2020 saw The Victory Bank place emphasis on $200k-400k loans with 50 originations, totaling $15,060,000 in origination value.
Applicant Income
The Victory Bank lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $150k-250k, with 22 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 124 | $35,370,000 | $285,242 | $0 | 0.00% |
The Victory Bank lent most frequently to those with DTI ratios of Exempt%, with 124 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.64%
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 origination83.87%
The Victory Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 124 | $35,370,000 | $285,242 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Multifamily:Site-Built | 9 | $3,615,000 | $401,667 |
| Single Family (1-4 Units):Site-Built | 115 | $31,755,000 | $276,130 |
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 | $316,372 |
For 2020, The Victory Bank had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $15,476 |
| Net interest income | $12,903 |
| Total noninterest income | $589 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $235 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $354 |
| Pre-tax net operating income | $3,916 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $3,078 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $3,078 |
| Minority interest net income | $0 |
| Net income | $3,078 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $3,078 |
The Victory Bank's gross interest income from loans was $15,476,000.
The Victory Bank's net interest income from loans was $12,903,000.
The Victory Bank's fee based income from loans was $235,000.
The Victory Bank's net income from loans was $3,078,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $2,573 |
| Provision for credit losses | $1,287 |
| Total noninterest expense | $8,289 |
| Salaries and employee benefits | $5,134 |
| Premises and equipment expense | $460 |
| Additional noninterest expense | $2,695 |
| Applicable income taxes | $838 |
| Net charge-offs | $360 |
| Cash dividends | $0 |
The Victory Bank's interest expense for loans was $2,573,000.
The Victory Bank's payroll and benefits expense were $5,134,000.
The Victory Bank's property, plant and equipment expenses $460,000.
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 | $345,238 |
| Deposits held in domestic offices | $345,238 |
| Deposits by Individuals, partnerships, and corporations | $287,508 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $54,503 |
| Deposits by Commercial banks and other depository institutions in U.S. | $3,228 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $127,354 |
| Demand deposits | $111,561 |
| Nontransaction accounts | $217,885 |
| Money market deposit accounts (MMDAs) | $98,401 |
| Other savings deposits (excluding MMDAs) | $83,663 |
| Total time deposits | $35,820 |
| Total time and savings deposits | $233,678 |
| Noninterest-bearing deposits | $61,419 |
| Interest-bearing deposits | $283,819 |
| Retail deposits | $331,114 |
| IRAs and Keogh plan accounts | $4,004 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $428,920 |
| Cash & Balances due from depository institutions | $112,276 |
| Interest-bearing balances | $107,858 |
| Total securities | $13,305 |
| Federal funds sold & reverse repurchase | $4,000 |
| Net loans and leases | $287,533 |
| Loan and leases loss allowance | $3,141 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,272 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $110 |
| All other assets | $8,424 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $428,921 |
| Total Liabilities | $397,994 |
| Total deposits | $345,238 |
| Interest-bearing deposits | $283,819 |
| Deposits held in domestic offices | $345,238 |
| % insured (estimated) | $71 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $51,481 |
| Subordinated debt | $0 |
| All other liabilities | $1,275 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $287,533 |
| Loan and leases loss allowance | $3,141 |
| Total loans and leases (domestic) | $290,674 |
| All real estate loans | $205,091 |
| Real estate loans in domestic offices | $205,091 |
| Construction and development loans | $17,533 |
| Residential 1-4 family construction | $11,052 |
| Other construction, all land development and other land | $6,481 |
| Loans secured by nonfarm nonresidential properties | $110,743 |
| Nonfarm nonresidential secured by owner-occupied properties | $66,841 |
| Commercial real estate & other non-farm, non-residential | $43,902 |
| Multifamily residential real estate | $22,231 |
| 1-4 family residential loans | $53,248 |
| Farmland loans | $1,336 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $76,399 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $9,966 |
| Credit card loans | $0 |
| Related Plans | $2,416 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $7,550 |
| All other loans & leases | $1,159 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $1,159 |
| 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 | $27 |
| Non 1-4 family restructured loans & leases | $27 |
| Total loans and leases (foreign) | $0 |
The Victory Bank had $287,533,000 of loans outstanding in 2020. $205,091,000 of loans were in real estate loans. $17,533,000 of loans were in development loans. $22,231,000 of loans were in multifamily mortgage loans. $53,248,000 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 | 319 | $72,625 | $227,665 |
| Nonfarm, nonresidential loans - <$100k | 53 | $2,526 | $47,660 |
| Nonfarm, nonresidential loans - $100-250k | 119 | $15,216 | $127,866 |
| Nonfarm, nonresidential loans - $250k-1MM | 147 | $54,883 | $373,354 |
| Commercial & Industrial, US addressed loans - <$1MM | 744 | $61,934 | $83,245 |
| Commercial & Industrial, US addressed loans - <$100k | 473 | $12,545 | $26,522 |
| Commercial & Industrial, US addressed loans - $100-250k | 153 | $14,483 | $94,660 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 118 | $34,906 | $295,814 |
| Farmland loans - <$1MM | 9 | $1,333 | $148,111 |
| Farmland loans - <$100k | 2 | $134 | $67,000 |
| Farmland loans - $100-250k | 2 | $81 | $40,500 |
| Farmland loans - $250k-1MM | 5 | $1,118 | $223,600 |