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 Cash Out Refi loans. The Village Bank has a high proportion of conventional loans. Their top markets by origination volume include: Boston, Barnstable Town, and Worcester among others. We have data for 3 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

    233

    Origination Dollar Volume (All Markets)

    $210,905,000

    Employee count

    131

    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) 228 $207,930,000 $911,974 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 3 $2,035,000 $678,333 $0 0.00%
    WORCESTER, MA-CT (FHA|USDA|VA) 2 $940,000 $470,000 $0 0.00%
    The Village Bank's top markets include Boston, Barnstable Town, and Worcester among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 233 $210,905,000 $905,172 $0 0.00%

    For 2019, The Village Bank's most frequently originated type of loan was Conventional, with 233 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 109 $132,905,000 $1,219,312 $0 0.00%
    Cash Out Refi 76 $56,060,000 $737,632 $0 0.00%
    Home Improvement 29 $12,435,000 $428,793 $0 0.00%
    Refi 15 $8,605,000 $573,667 $0 0.00%
    Other 4 $900,000 $225,000 $0 0.00%

    For 2019, The Village Bank's most frequently cited loan purpose was Home Purchase, with 109 originations. The 2nd most popular reason was Cash Out Refi, with 76 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 233 $210,905,000 $905,172 $0 0.00%

    For 2019, The Village Bank's most frequently cited loan duration was Other, with 233 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 80 $140,090,000 $1,751,125 $0 0.00%
    $200k-400k 48 $13,950,000 $290,625 $0 0.00%
    $600k-1MM 47 $36,705,000 $780,957 $0 0.00%
    $400k-600k 34 $16,920,000 $497,647 $0 0.00%
    $100k-200k 23 $3,175,000 $138,043 $0 0.00%
    $100,000 or less 1 $65,000 $65,000 $0 0.00%

    2019 saw The Village Bank place emphasis on $1MM+ loans with 80 originations, totaling $140,090,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 41 $42,695,000 $1,041,341 $0 0.00%
    $150k-250k 30 $20,270,000 $675,667 $0 0.00%
    $100k-150k 19 $9,815,000 $516,579 $0 0.00%
    $50k-75k 11 $3,715,000 $337,727 $0 0.00%
    $75k-100k 11 $3,365,000 $305,909 $0 0.00%
    $50k or less 6 $1,030,000 $171,667 $0 0.00%

    The Village Bank lent most frequently to those with incomes in the $250k+ range, with 41 originations. The second most popular income band? $150k-250k, with 30 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 233 $210,905,000 $905,172 $0 0.00%

    The Village Bank lent most frequently to those with DTI ratios of Exempt%, with 233 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 114 $129,510,000 $1,136,053 $0 0.00%
    White 109 $74,375,000 $682,339 $0 0.00%
    Not provided 7 $4,025,000 $575,000 $0 0.00%
    Asian 2 $2,890,000 $1,445,000 $0 0.00%
    American Indian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    99.22%

    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
    93.13%

    The Village Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 233 $210,905,000 $905,172

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 7 $12,875,000 $1,839,286
    Single Family (1-4 Units):Site-Built 226 $198,030,000 $876,239

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Village Bank 120 Seminary Avenue Auburndale, MA 2466 Full Service B&M $6,616
    The Village Bank 1365-1369 Washington Street West Newton, MA 2465 Full Service B&M $76,342
    The Village Bank 307 Auburn Street Auburndale, MA 2466 Full Service B&M $324,038
    The Village Bank 332 Walnut Street Newtonville, MA 2460 Full Service B&M $145,628
    The Village Bank 411 Watertown Street Newton, MA 2458 Full Service B&M $172,637
    The Village Bank 56 Winchester Street Newton Highlands, MA 2461 Full Service B&M $70,432
    The Village Bank 62 Boston Post Road Wayland, MA 1778 Full Service B&M $141,341
    The Village Bank 89 Wyman Street Waban, MA 2468 Full Service B&M $104,925

    For 2019, The Village Bank had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $51,017
    Net interest income $36,207
    Total noninterest income $2,461
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $549
    Trading account gains and fees $0
    Additional Noninterest Income $1,912
    Pre-tax net operating income $13,232
    Securities gains (or losses, -) $235
    Income before extraordinary items $10,319
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,319
    Minority interest net income $0
    Net income $10,319
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,133

    The Village Bank's gross interest income from loans was $51,017,000.
    The Village Bank's net interest income from loans was $36,207,000.
    The Village Bank's fee based income from loans was $549,000.
    The Village Bank's net income from loans was $10,319,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $14,810
    Provision for credit losses $222
    Total noninterest expense $25,214
    Salaries and employee benefits $14,789
    Premises and equipment expense $3,435
    Additional noninterest expense $6,990
    Applicable income taxes $3,148
    Net charge-offs $6
    Cash dividends $0

    The Village Bank's interest expense for loans was $14,810,000.
    The Village Bank's payroll and benefits expense were $14,789,000.
    The Village Bank's property, plant and equipment expenses $3,435,000.

    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 $1,132,683
    Deposits held in domestic offices $1,132,683
    Deposits by Individuals, partnerships, and corporations $1,098,508
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $34,175
    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 $67,458
    Demand deposits $51,714
    Nontransaction accounts $1,065,225
    Money market deposit accounts (MMDAs) $21,673
    Other savings deposits (excluding MMDAs) $529,824
    Total time deposits $513,728
    Total time and savings deposits $1,080,969
    Noninterest-bearing deposits $250,749
    Interest-bearing deposits $881,934
    Retail deposits $886,591
    IRAs and Keogh plan accounts $33,113
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,287,919
    Cash & Balances due from depository institutions $44,546
    Interest-bearing balances $38,980
    Total securities $144,597
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,048,414
    Loan and leases loss allowance $9,214
    Trading account assets $0
    Bank premises and fixed assets $10,954
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $39,408

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,287,919
    Total Liabilities $1,148,747
    Total deposits $1,132,683
    Interest-bearing deposits $881,934
    Deposits held in domestic offices $1,132,683
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $10,000
    Subordinated debt $0
    All other liabilities $6,064

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,048,414
    Loan and leases loss allowance $9,214
    Total loans and leases (domestic) $1,057,628
    All real estate loans $1,011,788
    Real estate loans in domestic offices $1,011,788
    Construction and development loans $193,003
    Residential 1-4 family construction $181,266
    Other construction, all land development and other land $11,737
    Loans secured by nonfarm nonresidential properties $153,243
    Nonfarm nonresidential secured by owner-occupied properties $65,965
    Commercial real estate & other non-farm, non-residential $87,278
    Multifamily residential real estate $31,806
    1-4 family residential loans $633,736
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $41,771
    To non-U.S. addressees $0
    Loans to individuals $4,069
    Credit card loans $0
    Related Plans $631
    Consumer Auto Loans $1,689
    Other loans to individuals $1,749
    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 $1,135
    Non 1-4 family restructured loans & leases $595
    Total loans and leases (foreign) $0

    The Village Bank had $1,048,414,000 of loans outstanding in 2019. $1,011,788,000 of loans were in real estate loans. $193,003,000 of loans were in development loans. $31,806,000 of loans were in multifamily mortgage loans. $633,736,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,689,000 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 169 $52,709 $311,888
    Nonfarm, nonresidential loans - <$100k 21 $1,086 $51,714
    Nonfarm, nonresidential loans - $100-250k 48 $6,776 $141,167
    Nonfarm, nonresidential loans - $250k-1MM 100 $44,847 $448,470
    Commercial & Industrial, US addressed loans - <$1MM 341 $18,775 $55,059
    Commercial & Industrial, US addressed loans - <$100k 270 $6,577 $24,359
    Commercial & Industrial, US addressed loans - $100-250k 40 $3,509 $87,725
    Commercial & Industrial, US addressed loans - $250k-1MM 31 $8,689 $280,290