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, Ocean City, Reading, York, and Harrisburg among others. We have data for 11 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
133Origination Dollar Volume (All Markets)
$63,115,000Employee count
48Top 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) | 91 | $45,645,000 | $501,593 | $0 | 0.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 8 | $7,460,000 | $932,500 | $0 | 0.00% |
| READING, PA (FHA|USDA|VA) | 25 | $4,925,000 | $197,000 | $0 | 0.00% |
| YORK-HANOVER, PA (FHA|USDA|VA) | 1 | $2,885,000 | $2,885,000 | $0 | 0.00% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $605,000 | $605,000 | $0 | 0.00% |
| OCALA, FL (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $365,000 | $365,000 | $0 | 0.00% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $0 | 0.00% |
| LANCASTER, PA (FHA|USDA|VA) | 2 | $260,000 | $130,000 | $0 | 0.00% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Pottsville, PA (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 133 | $63,115,000 | $474,549 | $0 | 0.00% |
For 2021, The Victory Bank's most frequently originated type of loan was Conventional, with 133 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Home Purchase | 71 | $32,605,000 | $459,225 | $0 | 0.00% |
| Refi | 55 | $28,765,000 | $523,000 | $0 | 0.00% |
| Home Improvement | 7 | $1,745,000 | $249,286 | $0 | 0.00% |
For 2021, The Victory Bank's most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Refi, with 55 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 133 | $63,115,000 | $474,549 | $0 | 0.00% |
For 2021, The Victory Bank's most frequently cited loan duration was Other, with 133 originations.
Loan Sizing
2021 saw The Victory Bank place emphasis on $200k-400k loans with 51 originations, totaling $14,605,000 in origination value.
Applicant Income
The Victory Bank lent most frequently to those with incomes in the $100k-150k range, with 13 originations. The second most popular income band? $75k-100k, with 11 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 133 | $63,115,000 | $474,549 | $0 | 0.00% |
The Victory Bank lent most frequently to those with DTI ratios of Exempt%, with 133 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications97.42%
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 origination86.47%
The Victory Bank has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 133 | $63,115,000 | $474,549 |
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 | $406,855 |
For 2021, The Victory Bank had 1 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $16,753 |
| Net interest income | $15,135 |
| Total noninterest income | $992 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $249 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $743 |
| Pre-tax net operating income | $5,772 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $4,731 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $4,731 |
| Minority interest net income | $0 |
| Net income | $4,731 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $4,731 |
The Victory Bank's gross interest income from loans was $16,753,000.
The Victory Bank's net interest income from loans was $15,135,000.
The Victory Bank's fee based income from loans was $249,000.
The Victory Bank's net income from loans was $4,731,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,618 |
| Provision for credit losses | $334 |
| Total noninterest expense | $10,021 |
| Salaries and employee benefits | $6,173 |
| Premises and equipment expense | $591 |
| Additional noninterest expense | $3,257 |
| Applicable income taxes | $1,041 |
| Net charge-offs | $20 |
| Cash dividends | $0 |
The Victory Bank's interest expense for loans was $1,618,000.
The Victory Bank's payroll and benefits expense were $6,173,000.
The Victory Bank's property, plant and equipment expenses $591,000.
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 | 1.0% |
| Credit card loans | 0.0% |
| Other individual loans | 1.0% |
| Auto loans | 0.0% |
| Other consumer loans | 1.0% |
| Unsecured commercial real estate loans | 0.0% |
Deposits
| Type | Value (in 000's) |
|---|---|
| Total deposits | $396,047 |
| Deposits held in domestic offices | $396,047 |
| Deposits by Individuals, partnerships, and corporations | $303,220 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $91,585 |
| Deposits by Commercial banks and other depository institutions in U.S. | $1,241 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $146,614 |
| Demand deposits | $0 |
| Nontransaction accounts | $249,432 |
| Money market deposit accounts (MMDAs) | $113,914 |
| Other savings deposits (excluding MMDAs) | $92,998 |
| Total time deposits | $42,520 |
| Total time and savings deposits | $396,046 |
| Noninterest-bearing deposits | $72,886 |
| Interest-bearing deposits | $323,161 |
| Retail deposits | $370,394 |
| IRAs and Keogh plan accounts | $3,726 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $443,951 |
| Cash & Balances due from depository institutions | $101,992 |
| Interest-bearing balances | $98,697 |
| Total securities | $24,089 |
| Federal funds sold & reverse repurchase | $3,000 |
| Net loans and leases | $301,626 |
| Loan and leases loss allowance | $3,454 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $3,226 |
| Other real estate owned | $0 |
| Goodwill and other intangibles | $79 |
| All other assets | $9,939 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $443,951 |
| Total Liabilities | $408,548 |
| Total deposits | $396,047 |
| Interest-bearing deposits | $323,161 |
| Deposits held in domestic offices | $396,047 |
| % insured (estimated) | $69 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $10,500 |
| Subordinated debt | $0 |
| All other liabilities | $2,001 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $301,626 |
| Loan and leases loss allowance | $3,454 |
| Total loans and leases (domestic) | $305,080 |
| All real estate loans | $241,633 |
| Real estate loans in domestic offices | $241,633 |
| Construction and development loans | $20,754 |
| Residential 1-4 family construction | $12,333 |
| Other construction, all land development and other land | $8,421 |
| Loans secured by nonfarm nonresidential properties | $132,245 |
| Nonfarm nonresidential secured by owner-occupied properties | $78,262 |
| Commercial real estate & other non-farm, non-residential | $53,983 |
| Multifamily residential real estate | $27,813 |
| 1-4 family residential loans | $59,459 |
| Farmland loans | $1,362 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $55,148 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $7,714 |
| Credit card loans | $0 |
| Related Plans | $2,300 |
| Consumer Auto Loans | $0 |
| Other loans to individuals | $5,414 |
| All other loans & leases | $2,586 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $2,586 |
| 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 | $25 |
| Non 1-4 family restructured loans & leases | $25 |
| Total loans and leases (foreign) | $0 |
The Victory Bank had $301,626,000 of loans outstanding in 2021. $241,633,000 of loans were in real estate loans. $20,754,000 of loans were in development loans. $27,813,000 of loans were in multifamily mortgage loans. $59,459,000 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 | 341 | $78,307 | $229,639 |
| Nonfarm, nonresidential loans - <$100k | 48 | $2,297 | $47,854 |
| Nonfarm, nonresidential loans - $100-250k | 124 | $15,323 | $123,573 |
| Nonfarm, nonresidential loans - $250k-1MM | 169 | $60,687 | $359,095 |
| Commercial & Industrial, US addressed loans - <$1MM | 531 | $44,638 | $84,064 |
| Commercial & Industrial, US addressed loans - <$100k | 295 | $7,808 | $26,468 |
| Commercial & Industrial, US addressed loans - $100-250k | 127 | $11,624 | $91,528 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 109 | $25,206 | $231,248 |
| Farmland loans - <$1MM | 7 | $1,359 | $194,143 |
| Farmland loans - <$100k | 1 | $54 | $54,000 |
| Farmland loans - $100-250k | 3 | $279 | $93,000 |
| Farmland loans - $250k-1MM | 3 | $1,026 | $342,000 |