Malvern Bank N.a. Mortgage Rates, Fees & Info
Paoli, PALEI: 549300VDK2EPK7QQKY80
Tax ID: 23-0835060
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Bank Data
Review & Overview
Malvern Bank N.a. is a smaller bank specializing in Refi and Home Purchase loans. Malvern Bank N.a. has a high proportion of conventional loans. Their top markets by origination volume include: Philadelphia, Miami, New York, Salisbury, and Reading among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)Malvern Bank N.a. 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. Malvern Bank N.a. is typically a low 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.
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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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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
Originations
80Origination Dollar Volume (All Markets)
$29,370,000Employee count
79Top 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) | 52 | $17,580,000 | $338,077 | $4,094 | 3.17% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 8 | $4,620,000 | $577,500 | $5,156 | 3.06% |
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 8 | $3,050,000 | $381,250 | $3,875 | 3.03% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 3 | $1,105,000 | $368,333 | $3,074 | 2.51% |
| Outside of Metro Areas | 1 | $715,000 | $715,000 | $3,348 | 3.00% |
| READING, PA (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,243 | 3.88% |
| OCALA, FL (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $6,615 | 4.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $425,000 | $425,000 | $3,102 | 3.13% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $335,000 | $335,000 | $3,347 | 3.25% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $3,106 | 3.38% |
| AUGUSTA-RICHMOND COUNTY, GA-SC (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $3,421 | 3.50% |
Similar Lenders
We use machine learning to identify the top lenders compared against Malvern Bank N.A. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 80 | $29,370,000 | $367,125 | $4,110 | 3.16% |
For 2021, Malvern Bank N.a.'s most frequently originated type of loan was Conventional, with 80 originations.
Loan Reason
For 2021, Malvern Bank N.a.'s most frequently cited loan purpose was Refi, with 57 originations. The 2nd most popular reason was Home Purchase, with 19 originations.
Loan Duration/Length
For 2021, Malvern Bank N.a.'s most frequently cited loan duration was 30 Year, with 46 originations. The 2nd most popular length was 15 Year, with 20 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 72 | $26,820,000 | $372,500 |
| $5k+ | 1 | $1,095,000 | $1,095,000 |
Malvern Bank N.a.'s average total fees were $4,575, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 72 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 37 | $15,585,000 | $421,216 |
| 2.5-3% | 31 | $11,775,000 | $379,839 |
| 4-5% | 6 | $260,000 | $43,333 |
| <2.5% | 5 | $1,735,000 | $347,000 |
| 5-6% | 1 | $15,000 | $15,000 |
During 2021, Malvern Bank N.a.'s average interest rate for loans was 3.10%, while their most frequently originated rate bucket for loans was 3-4%, with 37 originations.
Loan Sizing
2021 saw Malvern Bank N.a. place emphasis on $200k-400k loans with 32 originations, totaling $9,410,000 in origination value.
Applicant Income
Malvern Bank N.a. lent most frequently to those with incomes in the $250k+ range, with 27 originations. The second most popular income band? $100k-150k, with 15 originations.
Applicant Debt to Income Ratio
Malvern Bank N.a. lent most frequently to those with DTI ratios of 20-30%, with 22 originations. The next most common DTI ratio? 30-36%, with 20 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications92.86%
Malvern Bank N.a. has an average approval rate.
Pick Rate
Approvals leading to origination67.50%
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 | 80 | $29,370,000 | $367,125 |
LTV Distribution
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 | $69,457 |
| Malvern Bank N.A. | 1000 Ridge Road Pottstown, PA 19465 | Full Service B&M | $72,133 |
| Malvern Bank N.A. | 163 Madison Avenue Morristown, NJ 7960 | Full Service B&M | $178,532 |
| Malvern Bank N.A. | 205 Worth Ave, Suite 308 Palm Beach, FL 33480 | Full Service B&M | $8,252 |
| Malvern Bank N.A. | 42 East Lancaster Avenue Paoli, PA 19301 | Full Service B&M | $251,942 |
| Malvern Bank N.A. | 537 West Uwchlan Avenue Downingtown, PA 19335 | Full Service B&M | $129,887 |
| Malvern Bank N.A. | 650 Lancaster Ave Berwyn, PA 19312 | Full Service B&M | $60,973 |
| Malvern Bank N.A. | 801 E Lancaster Ave Villanova, PA 19085 | Full Service B&M | $88,668 |
| Malvern Bank N.A. | 940 Baltimore Pike Glen Mills, PA 19342 | Full Service B&M | $57,992 |
For 2021, Malvern Bank N.a. had 9 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $36,642 |
| Net interest income | $29,398 |
| Total noninterest income | $2,809 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $82 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,727 |
| Pre-tax net operating income | $878 |
| Securities gains (or losses, -) | $434 |
| Income before extraordinary items | $1,154 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $1,154 |
| Minority interest net income | $0 |
| Net income | $1,154 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $772 |
Malvern Bank N.a.'s gross interest income from loans was $36,642,000.
Malvern Bank N.a.'s net interest income from loans was $29,398,000.
Malvern Bank N.a.'s fee based income from loans was $82,000.
Malvern Bank N.a.'s net income from loans was $1,154,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $7,244 |
| Provision for credit losses | $10,626 |
| Total noninterest expense | $20,703 |
| Salaries and employee benefits | $9,165 |
| Premises and equipment expense | $1,956 |
| Additional noninterest expense | $9,582 |
| Applicable income taxes | $158 |
| Net charge-offs | $13,624 |
| Cash dividends | $0 |
Malvern Bank N.a.'s interest expense for loans was $7,244,000.
Malvern Bank N.a.'s payroll and benefits expense were $9,165,000.
Malvern Bank N.a.'s property, plant and equipment expenses $1,956,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 3.0% |
| 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 | $921,147 |
| Deposits held in domestic offices | $921,147 |
| Deposits by Individuals, partnerships, and corporations | $786,376 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $133,280 |
| Deposits by Commercial banks and other depository institutions in U.S. | $1,491 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $365,457 |
| Demand deposits | $225,830 |
| Nontransaction accounts | $555,690 |
| Money market deposit accounts (MMDAs) | $388,904 |
| Other savings deposits (excluding MMDAs) | $52,193 |
| Total time deposits | $114,593 |
| Total time and savings deposits | $695,317 |
| Noninterest-bearing deposits | $68,779 |
| Interest-bearing deposits | $852,368 |
| Retail deposits | $894,815 |
| IRAs and Keogh plan accounts | $45,272 |
| Brokered deposits | $9,064 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,151,180 |
| Cash & Balances due from depository institutions | $134,904 |
| Interest-bearing balances | $27,325 |
| Total securities | $82,254 |
| Federal funds sold & reverse repurchase | $0 |
| Net loans and leases | $871,820 |
| Loan and leases loss allowance | $10,037 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $7,298 |
| Other real estate owned | $4,961 |
| Goodwill and other intangibles | $86 |
| All other assets | $49,857 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,151,180 |
| Total Liabilities | $990,854 |
| Total deposits | $921,147 |
| Interest-bearing deposits | $852,368 |
| Deposits held in domestic offices | $921,147 |
| % insured (estimated) | $78 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $60,890 |
| Subordinated debt | $0 |
| All other liabilities | $8,817 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $871,820 |
| Loan and leases loss allowance | $10,037 |
| Total loans and leases (domestic) | $881,857 |
| All real estate loans | $765,650 |
| Real estate loans in domestic offices | $765,650 |
| Construction and development loans | $59,014 |
| Residential 1-4 family construction | $2,416 |
| Other construction, all land development and other land | $56,598 |
| Loans secured by nonfarm nonresidential properties | $412,192 |
| Nonfarm nonresidential secured by owner-occupied properties | $38,652 |
| Commercial real estate & other non-farm, non-residential | $373,540 |
| Multifamily residential real estate | $54,448 |
| 1-4 family residential loans | $224,414 |
| Farmland loans | $15,582 |
| Loans held in foreign offices | $0 |
| Farm loans | $0 |
| Commercial and industrial loans | $113,925 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $2,281 |
| Credit card loans | $0 |
| Related Plans | $0 |
| Consumer Auto Loans | $121 |
| Other loans to individuals | $2,160 |
| 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 | $7,432 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $6,310 |
| Non 1-4 family restructured loans & leases | $3,428 |
| Total loans and leases (foreign) | $0 |
Malvern Bank N.A. had $871,820,000 of loans outstanding in 2021. $765,650,000 of loans were in real estate loans. $59,014,000 of loans were in development loans. $54,448,000 of loans were in multifamily mortgage loans. $224,414,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $121,000 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 | 47 | $11,565 | $246,064 |
| Nonfarm, nonresidential loans - <$100k | 2 | $131 | $65,500 |
| Nonfarm, nonresidential loans - $100-250k | 7 | $681 | $97,286 |
| Nonfarm, nonresidential loans - $250k-1MM | 38 | $10,753 | $282,974 |
| Commercial & Industrial, US addressed loans - <$1MM | 100 | $13,519 | $135,190 |
| Commercial & Industrial, US addressed loans - <$100k | 67 | $1,742 | $26,000 |
| Commercial & Industrial, US addressed loans - $100-250k | 9 | $736 | $81,778 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 24 | $11,041 | $460,042 |
| Farmland loans - <$1MM | 5 | $1,885 | $377,000 |
| Farmland loans - <$100k | 1 | $50 | $50,000 |
| Farmland loans - $250k-1MM | 4 | $1,835 | $458,750 |