The Village Bank Mortgage Rates, Fees & Info
Auburndale, MA
LEI: 549300T0NMTRA1FGK873
Tax ID: 04-1050590
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Mortgage Data
Bank 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
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.
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 |