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 two markets are Boston and Barnstable Town .

    The Village 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.

    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

    295

    Origination Dollar Volume (All Markets)

    $359,585,000

    Employee count

    132

    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) 290 $353,510,000 $1,219,000 $0 0.00%
    BARNSTABLE TOWN, MA (FHA|USDA|VA) 5 $6,075,000 $1,215,000 $0 0.00%
    The Village Bank's top markets include Boston and Barnstable Town among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 295 $359,585,000 $1,218,932 $0 0.00%

    For 2020, The Village Bank's most frequently originated type of loan was Conventional, with 295 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 121 $208,465,000 $1,722,851 $0 0.00%
    Cash Out Refi 108 $100,190,000 $927,685 $0 0.00%
    Refi 41 $29,555,000 $720,854 $0 0.00%
    Home Improvement 21 $9,405,000 $447,857 $0 0.00%
    Other 4 $11,970,000 $2,992,500 $0 0.00%

    For 2020, The Village Bank's most frequently cited loan purpose was Home Purchase, with 121 originations. The 2nd most popular reason was Cash Out Refi, with 108 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 295 $359,585,000 $1,218,932 $0 0.00%

    For 2020, The Village Bank's most frequently cited loan duration was Other, with 295 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 124 $275,590,000 $2,222,500 $0 0.00%
    $600k-1MM 58 $46,260,000 $797,586 $0 0.00%
    $400k-600k 48 $23,120,000 $481,667 $0 0.00%
    $200k-400k 44 $12,220,000 $277,727 $0 0.00%
    $100k-200k 12 $1,730,000 $144,167 $0 0.00%
    $100,000 or less 9 $665,000 $73,889 $0 0.00%

    2020 saw The Village Bank place emphasis on $1MM+ loans with 124 originations, totaling $275,590,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 66 $95,900,000 $1,453,030 $0 0.00%
    $150k-250k 37 $22,555,000 $609,595 $0 0.00%
    $100k-150k 24 $10,430,000 $434,583 $0 0.00%
    $50k-75k 16 $4,860,000 $303,750 $0 0.00%
    $75k-100k 16 $4,740,000 $296,250 $0 0.00%
    $50k or less 6 $1,670,000 $278,333 $0 0.00%

    The Village Bank lent most frequently to those with incomes in the $250k+ range, with 66 originations. The second most popular income band? $150k-250k, with 37 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 295 $359,585,000 $1,218,932 $0 0.00%

    The Village Bank lent most frequently to those with DTI ratios of Exempt%, with 295 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 130 $218,790,000 $1,683,000 $0 0.00%
    White 125 $98,355,000 $786,840 $0 0.00%
    Asian 14 $21,780,000 $1,555,714 $0 0.00%
    Not provided 23 $19,335,000 $840,652 $0 0.00%
    Black 2 $1,120,000 $560,000 $0 0.00%
    American Indian 1 $205,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.43%

    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
    82.03%

    The Village Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 295 $359,585,000 $1,218,932

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $24,720,000 $3,090,000
    Single Family (1-4 Units):Site-Built 287 $334,865,000 $1,166,777

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Village Bank 120 Seminary Avenue Auburndale, MA 2466 Full Service B&M $7,975
    The Village Bank 1365-1369 Washington Street West Newton, MA 2465 Full Service B&M $84,951
    The Village Bank 307 Auburn Street Auburndale, MA 2466 Full Service B&M $399,069
    The Village Bank 332 Walnut Street Newtonville, MA 2460 Full Service B&M $160,006
    The Village Bank 411 Watertown Street Newton, MA 2458 Full Service B&M $192,860
    The Village Bank 56 Winchester Street Newton Highlands, MA 2461 Full Service B&M $91,219
    The Village Bank 62 Boston Post Road Wayland, MA 1778 Full Service B&M $164,047
    The Village Bank 720 Beacon Street Newton Center, MA 2459 Full Service B&M $55,136
    The Village Bank 89 Wyman Street Waban, MA 2468 Full Service B&M $115,951

    For 2020, The Village Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $51,686
    Net interest income $39,046
    Total noninterest income $2,484
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $399
    Trading account gains and fees $0
    Additional Noninterest Income $2,085
    Pre-tax net operating income $13,993
    Securities gains (or losses, -) $448
    Income before extraordinary items $10,972
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $10,972
    Minority interest net income $0
    Net income $10,972
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $10,618

    The Village Bank's gross interest income from loans was $51,686,000.
    The Village Bank's net interest income from loans was $39,046,000.
    The Village Bank's fee based income from loans was $399,000.
    The Village Bank's net income from loans was $10,972,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $12,640
    Provision for credit losses $520
    Total noninterest expense $27,017
    Salaries and employee benefits $16,213
    Premises and equipment expense $4,504
    Additional noninterest expense $6,300
    Applicable income taxes $3,469
    Net charge-offs $114
    Cash dividends $0

    The Village Bank's interest expense for loans was $12,640,000.
    The Village Bank's payroll and benefits expense were $16,213,000.
    The Village Bank's property, plant and equipment expenses $4,504,000.

    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 2.0%
    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 $1,368,985
    Deposits held in domestic offices $1,368,985
    Deposits by Individuals, partnerships, and corporations $1,339,161
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $29,824
    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 $83,485
    Demand deposits $62,827
    Nontransaction accounts $1,285,500
    Money market deposit accounts (MMDAs) $44,557
    Other savings deposits (excluding MMDAs) $758,062
    Total time deposits $482,881
    Total time and savings deposits $1,306,158
    Noninterest-bearing deposits $316,229
    Interest-bearing deposits $1,052,756
    Retail deposits $1,104,876
    IRAs and Keogh plan accounts $32,243
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,527,478
    Cash & Balances due from depository institutions $169,399
    Interest-bearing balances $147,111
    Total securities $198,293
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,109,781
    Loan and leases loss allowance $9,620
    Trading account assets $0
    Bank premises and fixed assets $10,921
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $39,084

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,527,478
    Total Liabilities $1,376,155
    Total deposits $1,368,985
    Interest-bearing deposits $1,052,756
    Deposits held in domestic offices $1,368,985
    % insured (estimated) $63
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $7,170

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,109,781
    Loan and leases loss allowance $9,620
    Total loans and leases (domestic) $1,119,401
    All real estate loans $1,065,063
    Real estate loans in domestic offices $1,065,063
    Construction and development loans $221,305
    Residential 1-4 family construction $189,849
    Other construction, all land development and other land $31,456
    Loans secured by nonfarm nonresidential properties $156,864
    Nonfarm nonresidential secured by owner-occupied properties $70,129
    Commercial real estate & other non-farm, non-residential $86,735
    Multifamily residential real estate $28,780
    1-4 family residential loans $658,114
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $50,041
    To non-U.S. addressees $0
    Loans to individuals $4,298
    Credit card loans $0
    Related Plans $225
    Consumer Auto Loans $1,547
    Other loans to individuals $2,526
    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 $1,261
    Non 1-4 family restructured loans & leases $34
    Total loans and leases (foreign) $0

    The Village Bank had $1,109,781,000 of loans outstanding in 2020. $1,065,063,000 of loans were in real estate loans. $221,305,000 of loans were in development loans. $28,780,000 of loans were in multifamily mortgage loans. $658,114,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,547,000 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 $57,886 $325,202
    Nonfarm, nonresidential loans - <$100k 21 $961 $45,762
    Nonfarm, nonresidential loans - $100-250k 51 $7,162 $140,431
    Nonfarm, nonresidential loans - $250k-1MM 106 $49,763 $469,462
    Commercial & Industrial, US addressed loans - <$1MM 669 $38,822 $58,030
    Commercial & Industrial, US addressed loans - <$100k 535 $13,983 $26,136
    Commercial & Industrial, US addressed loans - $100-250k 91 $11,544 $126,857
    Commercial & Industrial, US addressed loans - $250k-1MM 43 $13,295 $309,186