Fayette County National Bank Mortgage Rates, Fees & Info

Fayetteville, WV

LEI: 2549005QV7K44ND43364

Tax ID: 55-0169036

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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

    111

    Origination Dollar Volume (All Markets)

    $11,695,000

    Employee count

    31

    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) 99 $10,875,000 $109,848 $0 0.00%
    Outside of Metro Areas 12 $820,000 $68,333 $0 0.00%
    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 111 $11,695,000 $105,360 $0 0.00%

    For 2020, Fayette County National Bank's most frequently originated type of loan was Conventional, with 111 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 54 $4,330,000 $80,185 $0 0.00%
    Refi 46 $6,920,000 $150,435 $0 0.00%
    Home Improvement 6 $250,000 $41,667 $0 0.00%
    Other 5 $195,000 $39,000 $0 0.00%

    For 2020, Fayette County National Bank's most frequently cited loan purpose was Home Purchase, with 54 originations. The 2nd most popular reason was Refi, with 46 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 111 $11,695,000 $105,360 $0 0.00%

    For 2020, Fayette County National Bank's most frequently cited loan duration was Other, with 111 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 74 $4,010,000 $54,189 $0 0.00%
    $100k-200k 30 $4,030,000 $134,333 $0 0.00%
    $200k-400k 4 $1,130,000 $282,500 $0 0.00%
    $1MM+ 1 $1,345,000 $1,345,000 $0 0.00%
    $400k-600k 1 $495,000 $495,000 $0 0.00%
    $600k-1MM 1 $685,000 $685,000 $0 0.00%

    2020 saw Fayette County National Bank place emphasis on $100,000 or less loans with 74 originations, totaling $4,010,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 39 $2,345,000 $60,128 $0 0.00%
    $50k-75k 26 $2,240,000 $86,154 $0 0.00%
    $75k-100k 17 $1,505,000 $88,529 $0 0.00%
    $100k-150k 10 $1,330,000 $133,000 $0 0.00%
    $150k-250k 5 $1,025,000 $205,000 $0 0.00%
    $250k+ 3 $2,235,000 $745,000 $0 0.00%

    Fayette County National Bank lent most frequently to those with incomes in the $50k or less range, with 39 originations. The second most popular income band? $50k-75k, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 111 $11,695,000 $105,360 $0 0.00%

    Fayette County National Bank lent most frequently to those with DTI ratios of Exempt%, with 111 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 100 $10,220,000 $102,200 $0 0.00%
    Not applicable 9 $855,000 $95,000 $0 0.00%
    Asian 2 $620,000 $310,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.03%

    Fayette County National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    77.48%

    Fayette County National Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 111 $11,695,000 $105,360

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 23 $1,465,000 $63,696
    Single Family (1-4 Units):Site-Built 88 $10,230,000 $116,250

    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 $64,177
    The Fayette County National Bank of Fayetteville 137 East Main Street Ansted, WV 25812 Full Service B&M $9,338
    The Fayette County National Bank of Fayetteville 1554 East Main Street Oak Hill, WV 25901 Full Service B&M $18,493

    For 2020, Fayette County National Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $4,291
    Net interest income $3,963
    Total noninterest income $547
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $130
    Trading account gains and fees $0
    Additional Noninterest Income $417
    Pre-tax net operating income $1,411
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,053
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,053
    Minority interest net income $0
    Net income $1,053
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,053

    Fayette County National Bank's gross interest income from loans was $4,291,000.
    Fayette County National Bank's net interest income from loans was $3,963,000.
    Fayette County National Bank's fee based income from loans was $130,000.
    Fayette County National Bank's net income from loans was $1,053,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $328
    Provision for credit losses $25
    Total noninterest expense $3,074
    Salaries and employee benefits $1,518
    Premises and equipment expense $318
    Additional noninterest expense $1,238
    Applicable income taxes $358
    Net charge-offs $-14
    Cash dividends $468

    Fayette County National Bank's interest expense for loans was $328,000.
    Fayette County National Bank's payroll and benefits expense were $1,518,000.
    Fayette County National Bank's property, plant and equipment expenses $318,000.

    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 45.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    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 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $93,195
    Deposits held in domestic offices $93,195
    Deposits by Individuals, partnerships, and corporations $76,547
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $16,647
    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 $47,485
    Demand deposits $23,410
    Nontransaction accounts $45,710
    Money market deposit accounts (MMDAs) $8,160
    Other savings deposits (excluding MMDAs) $23,936
    Total time deposits $13,615
    Total time and savings deposits $69,785
    Noninterest-bearing deposits $23,410
    Interest-bearing deposits $69,785
    Retail deposits $90,638
    IRAs and Keogh plan accounts $7,481
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $106,225
    Cash & Balances due from depository institutions $3,301
    Interest-bearing balances $1,847
    Total securities $38,817
    Federal funds sold & reverse repurchase $0
    Net loans and leases $62,327
    Loan and leases loss allowance $780
    Trading account assets $0
    Bank premises and fixed assets $1,143
    Other real estate owned $48
    Goodwill and other intangibles $0
    All other assets $589

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $106,225
    Total Liabilities $93,597
    Total deposits $93,195
    Interest-bearing deposits $69,785
    Deposits held in domestic offices $93,195
    % insured (estimated) $86
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $402

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $62,327
    Loan and leases loss allowance $780
    Total loans and leases (domestic) $63,107
    All real estate loans $57,939
    Real estate loans in domestic offices $57,939
    Construction and development loans $3,775
    Residential 1-4 family construction $1,045
    Other construction, all land development and other land $2,730
    Loans secured by nonfarm nonresidential properties $6,830
    Nonfarm nonresidential secured by owner-occupied properties $5,490
    Commercial real estate & other non-farm, non-residential $1,340
    Multifamily residential real estate $495
    1-4 family residential loans $46,364
    Farmland loans $475
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $2,502
    To non-U.S. addressees $0
    Loans to individuals $2,940
    Credit card loans $0
    Related Plans $54
    Consumer Auto Loans $801
    Other loans to individuals $2,085
    All other loans & leases $44
    Loans to foreign governments and official institutions $0
    Other loans $44
    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 $291
    Non 1-4 family restructured loans & leases $61
    Total loans and leases (foreign) $0

    Fayette County National Bank had $62,327,000 of loans outstanding in 2020. $57,939,000 of loans were in real estate loans. $3,775,000 of loans were in development loans. $495,000 of loans were in multifamily mortgage loans. $46,364,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $801,000 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 $6,830 $126,481
    Nonfarm, nonresidential loans - <$100k 21 $981 $46,714
    Nonfarm, nonresidential loans - $100-250k 24 $2,487 $103,625
    Nonfarm, nonresidential loans - $250k-1MM 9 $3,362 $373,556
    Commercial & Industrial, US addressed loans - <$1MM 55 $2,502 $45,491
    Commercial & Industrial, US addressed loans - <$100k 48 $1,311 $27,313
    Commercial & Industrial, US addressed loans - $100-250k 4 $599 $149,750
    Commercial & Industrial, US addressed loans - $250k-1MM 3 $592 $197,333
    Farmland loans - <$1MM 1 $59 $59,000
    Farmland loans - $250k-1MM 1 $59 $59,000