The Village Bank Mortgage Rates, Fees & Info

Auburndale, MA

LEI: 549300T0NMTRA1FGK873

Tax ID: 04-1050590

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    The Village Bank is a smaller bank specializing in Home Purchase and Home Improvement loans. The Village Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, Worcester, and Providence among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Village Bank has an above average approval rate when compared to the average across all lenders. They have an above 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.

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    Originations

    251

    Origination Dollar Volume (All Markets)

    $268,865,000

    Employee count

    123

    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
    Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 243 $259,815,000 $1,069,198 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 5 $7,835,000 $1,567,000 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $820,000 $410,000 $0 0.00%
    PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
    The Village Bank's top markets include Boston, Barnstable Town, Worcester, and Providence among others.

    Their top states include:
  • Massachusetts (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 251 $268,865,000 $1,071,175 $0 0.00%

    For 2018, The Village Bank's most frequently originated type of loan was Conventional, with 251 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 131 $175,065,000 $1,336,374 $0 0.00%
    Home Improvement 65 $63,205,000 $972,385 $0 0.00%
    Refi 29 $14,185,000 $489,138 $0 0.00%
    Cash Out Refi 26 $16,410,000 $631,154 $0 0.00%

    For 2018, The Village Bank's most frequently cited loan purpose was Home Purchase, with 131 originations. The 2nd most popular reason was Home Improvement, with 65 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 251 $268,865,000 $1,071,175 $0 0.00%

    For 2018, The Village Bank's most frequently cited loan duration was Other, with 251 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 99 $195,375,000 $1,973,485 $0 0.00%
    $600k-1MM 51 $40,005,000 $784,412 $0 0.00%
    $200k-400k 44 $13,500,000 $306,818 $0 0.00%
    $400k-600k 36 $17,480,000 $485,556 $0 0.00%
    $100k-200k 17 $2,285,000 $134,412 $0 0.00%
    $100,000 or less 4 $220,000 $55,000 $0 0.00%

    2018 saw The Village Bank place emphasis on $1MM+ loans with 99 originations, totaling $195,375,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 57 $71,565,000 $1,255,526 $0 0.00%
    $100k-150k 26 $10,670,000 $410,385 $0 0.00%
    $150k-250k 22 $11,060,000 $502,727 $0 0.00%
    $75k-100k 12 $4,520,000 $376,667 $0 0.00%
    $50k or less 5 $1,005,000 $201,000 $0 0.00%
    $50k-75k 4 $840,000 $210,000 $0 0.00%

    The Village Bank lent most frequently to those with incomes in the $250k+ range, with 57 originations. The second most popular income band? $100k-150k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 251 $268,865,000 $1,071,175 $0 0.00%

    The Village Bank lent most frequently to those with DTI ratios of Exempt%, with 251 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 122 $167,670,000 $1,374,344 $0 0.00%
    White 118 $92,560,000 $784,407 $0 0.00%
    Not provided 6 $6,520,000 $1,086,667 $0 0.00%
    Asian 4 $2,010,000 $502,500 $0 0.00%
    American Indian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.89%

    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
    94.02%

    The Village Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 251 $268,865,000 $1,071,175

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 251 $268,865,000 $1,071,175

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Village Bank 120 Seminary Avenue Auburndale, MA 2466 Full Service B&M $7,321
    The Village Bank 1365-1369 Washington Street West Newton, MA 2465 Full Service B&M $59,239
    The Village Bank 307 Auburn Street Auburndale, MA 2466 Full Service B&M $328,445
    The Village Bank 332 Walnut Street Newtonville, MA 2460 Full Service B&M $139,953
    The Village Bank 411 Watertown Street Newton, MA 2458 Full Service B&M $134,407
    The Village Bank 56 Winchester Street Newton Highlands, MA 2461 Full Service B&M $58,534
    The Village Bank 62 Boston Post Road Wayland, MA 1778 Full Service B&M $129,189
    The Village Bank 89 Wyman Street Waban, MA 2468 Full Service B&M $90,796

    For 2018, The Village Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $45,468
    Net interest income $35,986
    Total noninterest income $2,683
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $527
    Trading account gains and fees $0
    Additional Noninterest Income $2,156
    Pre-tax net operating income $13,845
    Securities gains (or losses, -) $0
    Income before extraordinary items $10,553
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,553
    Minority interest net income $0
    Net income $10,553
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,553

    The Village Bank's gross interest income from loans was $45,468,000.
    The Village Bank's net interest income from loans was $35,986,000.
    The Village Bank's fee based income from loans was $527,000.
    The Village Bank's net income from loans was $10,553,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $9,482
    Provision for credit losses $650
    Total noninterest expense $24,174
    Salaries and employee benefits $13,597
    Premises and equipment expense $2,631
    Additional noninterest expense $7,946
    Applicable income taxes $3,292
    Net charge-offs $40
    Cash dividends $0

    The Village Bank's interest expense for loans was $9,482,000.
    The Village Bank's payroll and benefits expense were $13,597,000.
    The Village Bank's property, plant and equipment expenses $2,631,000.

    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 $985,247
    Deposits held in domestic offices $985,247
    Deposits by Individuals, partnerships, and corporations $973,789
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $11,458
    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 $41,619
    Demand deposits $22,247
    Nontransaction accounts $943,628
    Money market deposit accounts (MMDAs) $12,160
    Other savings deposits (excluding MMDAs) $523,743
    Total time deposits $407,725
    Total time and savings deposits $963,000
    Noninterest-bearing deposits $225,841
    Interest-bearing deposits $759,406
    Retail deposits $813,799
    IRAs and Keogh plan accounts $31,378
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,196,439
    Cash & Balances due from depository institutions $14,221
    Interest-bearing balances $3,974
    Total securities $137,995
    Federal funds sold & reverse repurchase $0
    Net loans and leases $991,235
    Loan and leases loss allowance $8,998
    Trading account assets $0
    Bank premises and fixed assets $8,935
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $44,053

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,196,439
    Total Liabilities $1,069,489
    Total deposits $985,247
    Interest-bearing deposits $759,406
    Deposits held in domestic offices $985,247
    % insured (estimated) $74
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $78,250
    Subordinated debt $0
    All other liabilities $5,992

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $991,235
    Loan and leases loss allowance $8,998
    Total loans and leases (domestic) $1,000,233
    All real estate loans $954,713
    Real estate loans in domestic offices $954,713
    Construction and development loans $177,072
    Residential 1-4 family construction $160,393
    Other construction, all land development and other land $16,679
    Loans secured by nonfarm nonresidential properties $146,418
    Nonfarm nonresidential secured by owner-occupied properties $65,171
    Commercial real estate & other non-farm, non-residential $81,247
    Multifamily residential real estate $29,199
    1-4 family residential loans $602,024
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $42,016
    To non-U.S. addressees $0
    Loans to individuals $3,505
    Credit card loans $0
    Related Plans $491
    Consumer Auto Loans $1,229
    Other loans to individuals $1,785
    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 $1,272
    Non 1-4 family restructured loans & leases $956
    Total loans and leases (foreign) $0

    The Village Bank had $991,235,000 of loans outstanding in 2018. $954,713,000 of loans were in real estate loans. $177,072,000 of loans were in development loans. $29,199,000 of loans were in multifamily mortgage loans. $602,024,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,229,000 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 161 $53,117 $329,919
    Nonfarm, nonresidential loans - <$100k 16 $697 $43,563
    Nonfarm, nonresidential loans - $100-250k 45 $6,401 $142,244
    Nonfarm, nonresidential loans - $250k-1MM 100 $46,019 $460,190
    Commercial & Industrial, US addressed loans - <$1MM 313 $17,225 $55,032
    Commercial & Industrial, US addressed loans - <$100k 249 $6,033 $24,229
    Commercial & Industrial, US addressed loans - $100-250k 39 $4,092 $104,923
    Commercial & Industrial, US addressed loans - $250k-1MM 25 $7,100 $284,000