The Village Bank Mortgage Rates, Fees & Info

Auburndale, MA

LEI: 549300T0NMTRA1FGK873

Tax ID: 04-1050590

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

The Village Bank is a smaller bank specializing in Home Purchase and Cash Out Refi loans. The Village Bank has a high proportion of conventional loans. Their top markets include Boston, Barnstable Town, Vineyard Haven, and Worcester among others. The Village Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

363

Origination Dollar Volume (All Markets)

$472,035,000

Employee count

134

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 349 $450,445,000 $1,290,673 $0 0.00%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 9 $17,095,000 $1,899,444 $0 0.00%
Vineyard Haven, MA (FHA|USDA|VA) 3 $3,765,000 $1,255,000 $0 0.00%
WORCESTER, MA-CT (FHA|USDA|VA) 2 $730,000 $365,000 $0 0.00%

The Village Bank's top markets include Boston, Barnstable Town, Vineyard Haven, and Worcester among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 363 $472,035,000 $1,300,372 $0 0.00%

For the 2021 period, The Village Bank's most frequently originated loan type of loans were Conventional, with 363 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 185 $306,085,000 $1,654,514 $0 0.00%
Cash Out Refi 116 $119,740,000 $1,032,241 $0 0.00%
Refi 34 $23,880,000 $702,353 $0 0.00%
Home Improvement 21 $10,535,000 $501,667 $0 0.00%
Other 7 $11,795,000 $1,685,000 $0 0.00%

For the 2021, The Village Bank's most frequently cited loan purpose of loans were Home Purchase, with 185 originations. The 2nd most popular reason of loans were Cash Out Refi, with 116 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 363 $472,035,000 $1,300,372 $0 0.00%

For the 2021, The Village Bank's most frequently cited loan length of loans were Other, with 363 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$1MM+ 179 $375,705,000 $2,098,911 $0 0.00%
$600k-1MM 74 $57,990,000 $783,649 $0 0.00%
$200k-400k 50 $14,990,000 $299,800 $0 0.00%
$400k-600k 43 $21,145,000 $491,744 $0 0.00%
$100k-200k 14 $1,990,000 $142,143 $0 0.00%
$100,000 or less 3 $215,000 $71,667 $0 0.00%

2021 saw The Village Bank place emphasis on $1MM+ loans with 179 originations, totaling $375,705,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$250k+ 99 $159,355,000 $1,609,646 $0 0.00%
$150k-250k 43 $30,795,000 $716,163 $0 0.00%
$100k-150k 29 $15,035,000 $518,448 $0 0.00%
$50k-75k 14 $4,160,000 $297,143 $0 0.00%
$75k-100k 10 $3,460,000 $346,000 $0 0.00%
$50k or less 7 $2,505,000 $357,857 $0 0.00%

The Village Bank lent most frequently to those with incomes in the $250k+ range, with 99 originations. The second most popular income band? $150k-250k, with 43 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 363 $472,035,000 $1,300,372 $0 0.00%

The Village Bank lent most frequently to those with DTI ratios of Exempt%, with 363 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 160 $255,870,000 $1,599,188 $0 0.00%
White 155 $152,655,000 $984,871 $0 0.00%
Asian 20 $30,250,000 $1,512,500 $0 0.00%
Not provided 17 $18,505,000 $1,088,529 $0 0.00%
Black 7 $7,035,000 $1,005,000 $0 0.00%
American Indian 2 $4,990,000 $2,495,000 $0 0.00%
Other Asian 2 $2,730,000 $1,365,000 $0 0.00%

Approval Rates

Total approvals of all applications
98.12%

The Village 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
89.14%

The Village Bank has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 363 $472,035,000 $1,300,372

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
363 $472,035,000 $1,300,372

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
The Village Bank 89 Wyman Street Waban, MA 2468 Full Service B&M $121,614
The Village Bank 120 Seminary Avenue Auburndale, MA 2466 Full Service B&M $8,038
The Village Bank 1365-1369 Washington Street West Newton, MA 2465 Full Service B&M $90,157
The Village Bank 307 Auburn St Auburndale, MA 2466 Full Service B&M $427,344
The Village Bank 332 Walnut Street Newtonville, MA 2460 Full Service B&M $177,538
The Village Bank 411 Watertown Street Newton, MA 2458 Full Service B&M $221,976
The Village Bank 56 Winchester Street Newton Highlands, MA 2461 Full Service B&M $107,474
The Village Bank 62 Boston Post Road Wayland, MA 1778 Full Service B&M $169,116
The Village Bank 720 Beacon Street Newton Center, MA 2459 Full Service B&M $138,552

For 2021, The Village Bank had 9 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $51,857
Net interest income $44,822
Total noninterest income $2,856
Gross Fiduciary activities income $0
Service charges on deposit accounts $395
Trading account gains and fees $0
Additional Noninterest Income $2,461
Pre-tax net operating income $18,240
Securities gains (or losses, -) $318
Income before extraordinary items $13,855
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $13,855
Minority interest net income $0
Net income $13,855
Sale, conversion, retirement of capital stock, net $0
Net operating income $13,603

The Village Bank's gross interest income from loans was $51,857,000.
The Village Bank's net interest income from loans was $44,822,000.
The Village Bank's fee based income from loans was $395,000.
The Village Bank's net income from loans was $13,855,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $7,035
Provision for credit losses $50
Total noninterest expense $29,388
Salaries and employee benefits $17,193
Premises and equipment expense $4,674
Additional noninterest expense $7,521
Applicable income taxes $4,703
Net charge-offs $35
Cash dividends $0

The Village Bank's interest expense for loans was $7,035,000.
The Village Bank's payroll and benefits expense were $17,193,000.
The Village Bank's property, plant and equipment expenses $4,674,000.

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 $1,512,517
Deposits held in domestic offices $1,512,517
Deposits by Individuals, partnerships, and corporations $1,480,244
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $32,273
Deposits by Commercial banks and other depository institutions in U.S. $0
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $84,763
Demand deposits $67,770
Nontransaction accounts $1,427,754
Money market deposit accounts (MMDAs) $61,267
Other savings deposits (excluding MMDAs) $940,388
Total time deposits $426,099
Total time and savings deposits $1,444,747
Noninterest-bearing deposits $369,854
Interest-bearing deposits $1,142,663
Retail deposits $1,262,950
IRAs and Keogh plan accounts $27,373
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,680,657
Cash & Balances due from depository institutions $129,562
Interest-bearing balances $122,749
Total securities $311,447
Federal funds sold & reverse repurchase $0
Net loans and leases $1,188,418
Loan and leases loss allowance $9,635
Trading account assets $0
Bank premises and fixed assets $10,426
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $40,804

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,680,657
Total Liabilities $1,520,602
Total deposits $1,512,517
Interest-bearing deposits $1,142,663
Deposits held in domestic offices $1,512,517
% insured (estimated) $60
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $8,085

Issued Loan Types

Type Value (in 000's)
Net loans and leases $1,188,418
Loan and leases loss allowance $9,635
Total loans and leases (domestic) $1,198,053
All real estate loans $1,167,890
Real estate loans in domestic offices $1,167,890
Construction and development loans $248,920
Residential 1-4 family construction $216,635
Other construction, all land development and other land $32,285
Loans secured by nonfarm nonresidential properties $164,502
Nonfarm nonresidential secured by owner-occupied properties $80,321
Commercial real estate & other non-farm, non-residential $84,181
Multifamily residential real estate $25,397
1-4 family residential loans $729,071
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $26,423
To non-U.S. addressees $0
Loans to individuals $3,740
Credit card loans $0
Related Plans $202
Consumer Auto Loans $1,104
Other loans to individuals $2,434
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 $759
Non 1-4 family restructured loans & leases $535
Total loans and leases (foreign) $0

The Village Bank had $1,188,418,000 of loans outstanding in 2021. $1,167,890,000 of loans were in real estate loans. $248,920,000 of loans were in development loans. $25,397,000 of loans were in multifamily mortgage loans. $729,071,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,104,000 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 178 $54,851 $308,152
Nonfarm, nonresidential loans - <$100k 24 $927 $38,625
Nonfarm, nonresidential loans - $100-250k 52 $7,033 $135,250
Nonfarm, nonresidential loans - $250k-1MM 102 $46,891 $459,716
Commercial & Industrial, US addressed loans - <$1MM 372 $19,897 $53,487
Commercial & Industrial, US addressed loans - <$100k 291 $6,082 $20,900
Commercial & Industrial, US addressed loans - $100-250k 45 $4,013 $89,178
Commercial & Industrial, US addressed loans - $250k-1MM 36 $9,802 $272,278