Malvern Bank N.a. Mortgage Rates, Fees & Info

Paoli, PA

LEI: 549300VDK2EPK7QQKY80

Tax ID: 23-0835060

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Malvern Bank N.a. is a smaller bank specializing in Home Purchase, Refi, and Home Improvement loans. Malvern Bank N.a. has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Miami, New York, Ocean City, and Reading among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Malvern Bank N.a. has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Malvern Bank N.a. is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

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.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
Home Equity Line of Credit (HELOC)	6.27%	5/4/24
30 Year Conventional Purchase	6.24%	5/4/24
30 Year Conventional Refi	6.24%	5/4/24
30 Year Cash-out Refi	5.98%	5/4/24
15 Year Conventional Purchase	5.91%	5/4/24
15 Year Conventional Refi	6.01%	5/4/24
15 Year Cash-out Refi	6.01%	5/4/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Malvern Bank N.a. Mortgage Calculator

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This is not an official calculator from Malvern Bank N.a.. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.

Originations

Origination Dollar Volume (All Markets)

$32,850,000

Employee count

Awards

Malvern Bank N.A. 30 Year Conventional Loans silver

Show all (2) awards

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
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA\|USDA\|VA)	50	$15,590,000	$311,800	$2,895	4.53%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA\|USDA\|VA)	1	$10,005,000	$10,005,000	$26,523	3.75%
New York-Newark-Jersey City, NY-NJ-PA (FHA\|USDA\|VA)	10	$4,820,000	$482,000	$3,706	4.84%
OCEAN CITY, NJ (FHA\|USDA\|VA)	1	$905,000	$905,000	$5,144	3.63%
Outside of Metro Areas	1	$535,000	$535,000	$3,014	4.50%
READING, PA (FHA\|USDA\|VA)	1	$395,000	$395,000	$3,970	5.25%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA\|USDA\|VA)	1	$385,000	$385,000	$3,465	4.50%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	1	$215,000	$215,000	$2,542	3.75%

Malvern Bank N.a.'s top markets include Philadelphia, Miami, New York, Ocean City, and Reading among others.

Their top states include:

Pennsylvania (FHA|USDA|VA)

Florida (FHA|USDA|VA)

New Jersey (FHA|USDA|VA)

Delaware (FHA|USDA|VA)

Maryland (FHA|USDA|VA)

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Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	66	$32,850,000	$497,727	$3,440	4.54%

For 2018, Malvern Bank N.a.'s most frequently originated type of loan was Conventional, with 66 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	19	$6,785,000	$357,105	$3,323	4.37%
Cash Out Refi	17	$4,955,000	$291,471	$2,142	4.92%
Refi	16	$6,760,000	$422,500	$3,728	4.21%
Other	11	$4,045,000	$367,727	$3,281	4.74%
Home Improvement	2	$10,030,000	$5,015,000	$13,379	4.31%
NA	1	$275,000	$275,000	$0	4.75%

For 2018, Malvern Bank N.a.'s most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Cash Out Refi, with 17 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	33	$26,655,000	$807,727	$5,042	4.40%
15 Year	17	$3,035,000	$178,529	$1,912	4.68%
10 Year	7	$625,000	$89,286	$444	4.87%
20 Year	4	$960,000	$240,000	$3,274	4.38%
5 Year	3	$65,000	$21,667	$178	4.88%
Other	2	$1,510,000	$755,000	$0	0.00%

For 2018, Malvern Bank N.a.'s most frequently cited loan duration was 30 Year, with 33 originations. The 2nd most popular length was 15 Year, with 17 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	62	$30,900,000	$498,387

Malvern Bank N.a.'s average total fees were $5,042, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 62 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	40	$14,850,000	$371,250
3-4%	14	$15,020,000	$1,072,857
5-6%	10	$1,470,000	$147,000

During 2018, Malvern Bank N.a.'s average interest rate for loans was 4.40%, while their most frequently originated rate bucket for loans was 4-5%, with 40 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$200k-400k	20	$5,790,000	$289,500	$3,250	4.40%
$100,000 or less	15	$775,000	$51,667	$741	4.94%
$100k-200k	11	$1,685,000	$153,182	$2,217	4.73%
$600k-1MM	10	$7,820,000	$782,000	$5,250	4.34%
$400k-600k	7	$3,365,000	$480,714	$4,565	4.18%
$1MM+	3	$13,415,000	$4,471,667	$14,755	4.25%

2018 saw Malvern Bank N.a. place emphasis on $200k-400k loans with 20 originations, totaling $5,790,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$250k+	19	$21,055,000	$1,108,158	$5,296	4.46%
$100k-150k	16	$3,910,000	$244,375	$2,533	4.69%
$150k-250k	13	$3,575,000	$275,000	$3,101	4.47%
$75k-100k	7	$1,735,000	$247,857	$2,651	4.55%
$50k-75k	5	$635,000	$127,000	$2,717	4.40%
$50k or less	3	$155,000	$51,667	$919	4.79%

Malvern Bank N.a. lent most frequently to those with incomes in the $250k+ range, with 19 originations. The second most popular income band? $100k-150k, with 16 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	16	$3,830,000	$239,375	$2,253	4.48%
30-36%	11	$4,375,000	$397,727	$3,786	4.39%
<20%	9	$11,465,000	$1,273,889	$4,764	4.50%
42%	5	$1,115,000	$223,000	$1,884	5.10%
41%	5	$2,475,000	$495,000	$4,069	4.68%
38%	4	$3,900,000	$975,000	$5,786	4.63%
40%	4	$1,270,000	$317,500	$2,590	4.69%
39%	3	$645,000	$215,000	$2,663	4.42%
37%	2	$450,000	$225,000	$3,225	4.31%
36%	1	$285,000	$285,000	$3,498	4.75%
44%	1	$325,000	$325,000	$3,561	4.25%
47%	1	$275,000	$275,000	$4,463	4.75%
>60%	1	$655,000	$655,000	$5,347	3.88%

Malvern Bank N.a. lent most frequently to those with DTI ratios of 20-30%, with 16 originations. The next most common DTI ratio? 30-36%, with 11 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	43	$24,955,000	$580,349	$3,616	4.57%
Not provided	13	$3,945,000	$303,462	$2,843	4.54%
Asian	6	$2,110,000	$351,667	$4,049	4.25%
Not applicable	3	$1,785,000	$595,000	$0	4.75%
Black	1	$55,000	$55,000	$150	4.99%

Approval Rates

Total approvals of all applications
78.57%

Malvern Bank N.a. has a below average approval rate.

Pick Rate

Approvals leading to origination
39.39%

Malvern Bank N.a. has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points	Originations	Total Value	Average Loan
NA	66	$32,850,000	$497,727

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Site-Built	1	$2,405,000	$2,405,000
Single Family (1-4 Units):Site-Built	65	$30,445,000	$468,385

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	5	$715,000	$143,000	$1,645	4.90%
40-60%	11	$15,545,000	$1,413,182	$6,440	4.23%
60-80%	30	$13,280,000	$442,667	$4,086	4.48%
80-100%	7	$1,735,000	$247,857	$2,462	4.25%
Under 20%	12	$820,000	$68,333	$546	5.00%

Complaints

Bank Name	Product	Issue	2018 CPFB Complaints	% of Total Issues
MLB Residential Lending, LLC	FHA mortgage	Closing on a mortgage	1	100.0%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Malvern Bank N.A.	100 West King Street Malvern, PA 19355	Full Service B&M	$50,548
Malvern Bank N.A.	1000 Ridge Road Pottstown, PA 19465	Full Service B&M	$53,903
Malvern Bank N.A.	163 Madison Avenue Morristown, NJ 7960	Full Service B&M	$135,740
Malvern Bank N.A.	42 East Lancaster Avenue Paoli, PA 19301	Full Service B&M	$282,746
Malvern Bank N.A.	537 West Uwchlan Avenue Downingtown, PA 19335	Full Service B&M	$100,544
Malvern Bank N.A.	650 Lancaster Ave Berwyn, PA 19312	Full Service B&M	$61,314
Malvern Bank N.A.	801 E Lancaster Ave Villanova, PA 19085	Full Service B&M	$45,060
Malvern Bank N.A.	940 Baltimore Pike Glen Mills, PA 19342	Full Service B&M	$65,030

For 2018, Malvern Bank N.a. had 8 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$41,431
Net interest income	$29,099
Total noninterest income	$2,470
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$112
Trading account gains and fees	$0
Additional Noninterest Income	$2,358
Pre-tax net operating income	$12,389
Securities gains (or losses, -)	$0
Income before extraordinary items	$10,316
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$10,316
Minority interest net income	$0
Net income	$10,316
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$10,316

Malvern Bank N.a.'s gross interest income from loans was $41,431,000.
Malvern Bank N.a.'s net interest income from loans was $29,099,000.
Malvern Bank N.a.'s fee based income from loans was $112,000.
Malvern Bank N.a.'s net income from loans was $10,316,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$12,332
Provision for credit losses	$2,407
Total noninterest expense	$16,773
Salaries and employee benefits	$8,210
Premises and equipment expense	$2,004
Additional noninterest expense	$6,559
Applicable income taxes	$2,073
Net charge-offs	$1,597
Cash dividends	$0

Malvern Bank N.a.'s interest expense for loans was $12,332,000.
Malvern Bank N.a.'s payroll and benefits expense were $8,210,000.
Malvern Bank N.a.'s property, plant and equipment expenses $2,004,000.

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	1.0%
HELOC loans	0.0%
All other family	1.0%
Commercial & industrial loans	0.0%
Personal loans	1.0%
Credit card loans	0.0%
Other individual loans	1.0%
Auto loans	0.0%
Other consumer loans	1.0%
Unsecured commercial real estate loans	0.0%

Deposits

Type	Value (in 000's)
Total deposits	$859,618
Deposits held in domestic offices	$859,618
Deposits by Individuals, partnerships, and corporations	$665,200
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$142,759
Deposits by Commercial banks and other depository institutions in U.S.	$51,659
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$198,977
Demand deposits	$149,841
Nontransaction accounts	$660,641
Money market deposit accounts (MMDAs)	$371,640
Other savings deposits (excluding MMDAs)	$44,434
Total time deposits	$244,567
Total time and savings deposits	$709,777
Noninterest-bearing deposits	$56,152
Interest-bearing deposits	$803,466
Retail deposits	$711,728
IRAs and Keogh plan accounts	$69,023
Brokered deposits	$115,437
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$1,127,573
Cash & Balances due from depository institutions	$99,876
Interest-bearing balances	$96,382
Total securities	$48,554
Federal funds sold & reverse repurchase	$0
Net loans and leases	$924,639
Loan and leases loss allowance	$9,247
Trading account assets	$0
Bank premises and fixed assets	$7,067
Other real estate owned	$5,796
Goodwill and other intangibles	$213
All other assets	$41,428

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$1,127,573
Total Liabilities	$983,359
Total deposits	$859,618
Interest-bearing deposits	$803,466
Deposits held in domestic offices	$859,618
% insured (estimated)	$90
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$119,383
Subordinated debt	$0
All other liabilities	$4,358

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$924,639
Loan and leases loss allowance	$9,247
Total loans and leases (domestic)	$933,886
All real estate loans	$847,737
Real estate loans in domestic offices	$847,737
Construction and development loans	$48,320
Residential 1-4 family construction	$1,826
Other construction, all land development and other land	$46,494
Loans secured by nonfarm nonresidential properties	$474,583
Nonfarm nonresidential secured by owner-occupied properties	$49,680
Commercial real estate & other non-farm, non-residential	$424,903
Multifamily residential real estate	$44,989
1-4 family residential loans	$267,791
Farmland loans	$12,054
Loans held in foreign offices	$0
Farm loans	$0
Commercial and industrial loans	$84,235
To non-U.S. addressees	$0
Loans to individuals	$1,914
Credit card loans	$0
Related Plans	$0
Consumer Auto Loans	$45
Other loans to individuals	$1,869
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	$7,343
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$12,163
Non 1-4 family restructured loans & leases	$9,458
Total loans and leases (foreign)	$0

Malvern Bank N.A. had $924,639,000 of loans outstanding in 2018. $847,737,000 of loans were in real estate loans. $48,320,000 of loans were in development loans. $44,989,000 of loans were in multifamily mortgage loans. $267,791,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $45,000 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	69	$19,331	$280,159
Nonfarm, nonresidential loans - <$100k	5	$336	$67,200
Nonfarm, nonresidential loans - $100-250k	16	$1,587	$99,188
Nonfarm, nonresidential loans - $250k-1MM	48	$17,408	$362,667
Commercial & Industrial, US addressed loans - <$1MM	98	$13,224	$134,939
Commercial & Industrial, US addressed loans - <$100k	65	$1,360	$20,923
Commercial & Industrial, US addressed loans - $100-250k	9	$611	$67,889
Commercial & Industrial, US addressed loans - $250k-1MM	24	$11,253	$468,875
Farmland loans - <$1MM	2	$672	$336,000
Farmland loans - $250k-1MM	2	$672	$336,000