Fayette County National Bank Mortgage Rates, Fees & Info

Fayetteville, WV

LEI: 2549005QV7K44ND43364

Tax ID: 55-0169036

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

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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

    Fayette County National Bank is a smaller bank specializing in Home Purchase and Refi loans. Fayette County National Bank has a high proportion of conventional loans. Their top (well, only) market is Beckley.

    Fayette County National 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.

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    Originations

    86

    Origination Dollar Volume (All Markets)

    $6,320,000

    Employee count

    30

    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
    BECKLEY, WV (FHA|USDA|VA) 78 $5,710,000 $73,205 $1,453 5.49%
    Outside of Metro Areas 8 $610,000 $76,250 $1,799 5.11%
    Fayette County National Bank's top markets include and Beckley among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 86 $6,320,000 $73,488 $1,492 5.46%

    For 2018, Fayette County National Bank's most frequently originated type of loan was Conventional, with 86 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 40 $3,070,000 $76,750 $1,762 5.55%
    Refi 34 $2,770,000 $81,471 $1,418 5.27%
    Home Improvement 5 $115,000 $23,000 $794 5.27%
    Other 5 $145,000 $29,000 $1,088 5.63%
    NA 2 $220,000 $110,000 $0 6.89%

    For 2018, Fayette County National Bank's most frequently cited loan purpose was Home Purchase, with 40 originations. The 2nd most popular reason was Refi, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    15 Year 45 $3,105,000 $69,000 $1,520 5.70%
    Other 17 $2,395,000 $140,882 $2,120 5.19%
    10 Year 15 $435,000 $29,000 $1,040 5.26%
    5 Year 7 $235,000 $33,571 $773 5.11%
    20 Year 2 $150,000 $75,000 $1,450 5.15%

    For 2018, Fayette County National Bank's most frequently cited loan duration was 15 Year, with 45 originations. The 2nd most popular length was Other, with 17 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 58 $2,640,000 $45,517
    $1k-2k 11 $1,465,000 $133,182
    $4k-5k 1 $405,000 $405,000

    Fayette County National Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 58 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 61 $4,825,000 $79,098
    4-5% 14 $890,000 $63,571
    7-8% 6 $210,000 $35,000
    6-7% 5 $395,000 $79,000

    During 2018, Fayette County National Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 5-6%, with 61 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 70 $3,190,000 $45,571 $1,276 5.49%
    $100k-200k 12 $1,670,000 $139,167 $2,390 5.31%
    $200k-400k 2 $490,000 $245,000 $0 5.10%
    $400k-600k 2 $970,000 $485,000 $5,313 5.54%

    2018 saw Fayette County National Bank place emphasis on $100,000 or less loans with 70 originations, totaling $3,190,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 36 $1,410,000 $39,167 $1,174 5.48%
    $50k-75k 20 $1,480,000 $74,000 $1,728 5.38%
    $75k-100k 15 $1,095,000 $73,000 $1,679 5.54%
    $100k-150k 6 $630,000 $105,000 $1,492 5.56%
    $150k-250k 2 $470,000 $235,000 $3,162 5.18%
    $250k+ 1 $55,000 $55,000 $1,911 5.41%

    Fayette County National Bank lent most frequently to those with incomes in the $50k or less range, with 36 originations. The second most popular income band? $50k-75k, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 23 $1,365,000 $59,348 $1,441 5.30%
    30-36% 19 $1,305,000 $68,684 $1,516 5.28%
    <20% 12 $440,000 $36,667 $1,160 5.19%
    40% 4 $270,000 $67,500 $1,318 5.38%
    39% 2 $180,000 $90,000 $1,695 5.28%
    36% 2 $150,000 $75,000 $1,716 5.35%
    47% 2 $100,000 $50,000 $1,611 5.18%
    50-60% 2 $480,000 $240,000 $3,407 5.24%
    43% 1 $25,000 $25,000 $556 5.63%
    46% 1 $35,000 $35,000 $1,048 5.02%
    >60% 1 $35,000 $35,000 $1,191 5.23%
    38% 1 $85,000 $85,000 $1,615 5.28%
    37% 1 $165,000 $165,000 $3,576 5.29%

    Fayette County National Bank lent most frequently to those with DTI ratios of 20-30%, with 23 originations. The next most common DTI ratio? 30-36%, with 19 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 79 $5,145,000 $65,127 $1,505 5.48%
    Not applicable 5 $1,115,000 $223,000 $0 5.24%
    American Indian 1 $45,000 $45,000 $1,632 5.41%
    Black 1 $15,000 $15,000 $501 5.02%

    Approval Rates

    Total approvals of all applications
    94.59%

    Fayette County National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.72%

    Fayette County National Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 86 $6,320,000 $73,488

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $65,000 $65,000
    Single Family (1-4 Units):Manufactured 19 $955,000 $50,263
    Single Family (1-4 Units):Site-Built 66 $5,300,000 $80,303

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 10 $300,000 $30,000 $779 5.15%
    40-60% 15 $925,000 $61,667 $1,332 5.80%
    60-80% 38 $2,940,000 $77,368 $1,691 5.17%
    80-100% 22 $2,110,000 $95,909 $1,710 5.89%
    Under 20% 1 $45,000 $45,000 $976 4.87%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Fayette County National Bank of Fayetteville 101 N. Court St Fayetteville, WV 25840 Full Service B&M $53,601
    The Fayette County National Bank of Fayetteville 137 East Main Street Ansted, WV 25812 Full Service B&M $8,771
    The Fayette County National Bank of Fayetteville 1554 East Main Street Oak Hill, WV 25901 Full Service B&M $15,467

    For 2018, Fayette County National Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $4,013
    Net interest income $3,726
    Total noninterest income $319
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $99
    Trading account gains and fees $0
    Additional Noninterest Income $220
    Pre-tax net operating income $1,199
    Securities gains (or losses, -) $-20
    Income before extraordinary items $918
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $918
    Minority interest net income $0
    Net income $918
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $933

    Fayette County National Bank's gross interest income from loans was $4,013,000.
    Fayette County National Bank's net interest income from loans was $3,726,000.
    Fayette County National Bank's fee based income from loans was $99,000.
    Fayette County National Bank's net income from loans was $918,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $287
    Provision for credit losses $47
    Total noninterest expense $2,799
    Salaries and employee benefits $1,433
    Premises and equipment expense $308
    Additional noninterest expense $1,058
    Applicable income taxes $261
    Net charge-offs $32
    Cash dividends $456

    Fayette County National Bank's interest expense for loans was $287,000.
    Fayette County National Bank's payroll and benefits expense were $1,433,000.
    Fayette County National Bank's property, plant and equipment expenses $308,000.

    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 0.0%
    Multifamily residential loans 33.0%
    1-4 family residential loans 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $76,965
    Deposits held in domestic offices $76,965
    Deposits by Individuals, partnerships, and corporations $62,983
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $13,981
    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 $34,820
    Demand deposits $16,427
    Nontransaction accounts $42,145
    Money market deposit accounts (MMDAs) $8,328
    Other savings deposits (excluding MMDAs) $22,364
    Total time deposits $11,453
    Total time and savings deposits $60,538
    Noninterest-bearing deposits $16,427
    Interest-bearing deposits $60,538
    Retail deposits $75,328
    IRAs and Keogh plan accounts $7,751
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $88,210
    Cash & Balances due from depository institutions $3,012
    Interest-bearing balances $1,846
    Total securities $22,184
    Federal funds sold & reverse repurchase $0
    Net loans and leases $61,020
    Loan and leases loss allowance $732
    Trading account assets $0
    Bank premises and fixed assets $1,188
    Other real estate owned $83
    Goodwill and other intangibles $0
    All other assets $723

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $88,210
    Total Liabilities $77,166
    Total deposits $76,965
    Interest-bearing deposits $60,538
    Deposits held in domestic offices $76,965
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $201

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $61,020
    Loan and leases loss allowance $732
    Total loans and leases (domestic) $61,752
    All real estate loans $57,828
    Real estate loans in domestic offices $57,828
    Construction and development loans $3,253
    Residential 1-4 family construction $674
    Other construction, all land development and other land $2,579
    Loans secured by nonfarm nonresidential properties $5,912
    Nonfarm nonresidential secured by owner-occupied properties $4,852
    Commercial real estate & other non-farm, non-residential $1,060
    Multifamily residential real estate $690
    1-4 family residential loans $47,522
    Farmland loans $451
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,010
    To non-U.S. addressees $0
    Loans to individuals $3,169
    Credit card loans $0
    Related Plans $64
    Consumer Auto Loans $870
    Other loans to individuals $2,235
    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 $232
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Fayette County National Bank had $61,020,000 of loans outstanding in 2018. $57,828,000 of loans were in real estate loans. $3,253,000 of loans were in development loans. $690,000 of loans were in multifamily mortgage loans. $47,522,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $870,000 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 54 $5,912 $109,481
    Nonfarm, nonresidential loans - <$100k 23 $994 $43,217
    Nonfarm, nonresidential loans - $100-250k 24 $2,846 $118,583
    Nonfarm, nonresidential loans - $250k-1MM 7 $2,072 $296,000
    Commercial & Industrial, US addressed loans - <$1MM 16 $1,010 $63,125
    Commercial & Industrial, US addressed loans - <$100k 14 $477 $34,071
    Commercial & Industrial, US addressed loans - $100-250k 1 $53 $53,000
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $480 $480,000
    Farmland loans - <$1MM 1 $0 $0
    Farmland loans - $250k-1MM 1 $0 $0