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 two markets are Beckley and Myrtle Beach .

    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

    130

    Origination Dollar Volume (All Markets)

    $11,710,000

    Employee count

    29

    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) 109 $9,295,000 $85,275 $0 0.00%
    Outside of Metro Areas 20 $2,230,000 $111,500 $0 0.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    Fayette County National Bank's top markets include Beckley and Myrtle Beach among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 130 $11,710,000 $90,077 $0 0.00%

    For 2021, Fayette County National Bank's most frequently originated type of loan was Conventional, with 130 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 53 $4,555,000 $85,943 $0 0.00%
    Refi 53 $5,485,000 $103,491 $0 0.00%
    Home Improvement 14 $760,000 $54,286 $0 0.00%
    Other 10 $910,000 $91,000 $0 0.00%

    For 2021, Fayette County National Bank's most frequently cited loan purpose was Home Purchase, with 53 originations. The 2nd most popular reason was Refi, with 53 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 130 $11,710,000 $90,077 $0 0.00%

    For 2021, Fayette County National Bank's most frequently cited loan duration was Other, with 130 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 92 $4,890,000 $53,152 $0 0.00%
    $100k-200k 30 $4,140,000 $138,000 $0 0.00%
    $200k-400k 6 $1,420,000 $236,667 $0 0.00%
    $400k-600k 1 $445,000 $445,000 $0 0.00%
    $600k-1MM 1 $815,000 $815,000 $0 0.00%

    2021 saw Fayette County National Bank place emphasis on $100,000 or less loans with 92 originations, totaling $4,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 51 $3,265,000 $64,020 $0 0.00%
    $50k-75k 31 $2,535,000 $81,774 $0 0.00%
    $75k-100k 18 $1,680,000 $93,333 $0 0.00%
    $100k-150k 10 $1,020,000 $102,000 $0 0.00%
    $150k-250k 8 $1,200,000 $150,000 $0 0.00%
    $250k+ 3 $1,135,000 $378,333 $0 0.00%

    Fayette County National Bank lent most frequently to those with incomes in the $50k or less range, with 51 originations. The second most popular income band? $50k-75k, with 31 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 130 $11,710,000 $90,077 $0 0.00%

    Fayette County National Bank lent most frequently to those with DTI ratios of Exempt%, with 130 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 120 $11,050,000 $92,083 $0 0.00%
    Not applicable 7 $425,000 $60,714 $0 0.00%
    American Indian 1 $115,000 $115,000 $0 0.00%
    Asian 1 $65,000 $65,000 $0 0.00%
    Black 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.25%

    Fayette County National Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    88.46%

    Fayette County National Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 130 $11,710,000 $90,077

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    130 $11,710,000 $90,077

    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 $84,339
    The Fayette County National Bank of Fayetteville 137 East Main Street Ansted, WV 25812 Full Service B&M $10,465
    The Fayette County National Bank of Fayetteville 1554 East Main Street Oak Hill, WV 25901 Full Service B&M $19,747

    For 2021, Fayette County National Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $4,361
    Net interest income $4,077
    Total noninterest income $505
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $144
    Trading account gains and fees $0
    Additional Noninterest Income $361
    Pre-tax net operating income $1,452
    Securities gains (or losses, -) $-17
    Income before extraordinary items $1,135
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,135
    Minority interest net income $0
    Net income $1,135
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,148

    Fayette County National Bank's gross interest income from loans was $4,361,000.
    Fayette County National Bank's net interest income from loans was $4,077,000.
    Fayette County National Bank's fee based income from loans was $144,000.
    Fayette County National Bank's net income from loans was $1,135,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $284
    Provision for credit losses $0
    Total noninterest expense $3,130
    Salaries and employee benefits $1,628
    Premises and equipment expense $317
    Additional noninterest expense $1,185
    Applicable income taxes $300
    Net charge-offs $-7
    Cash dividends $480

    Fayette County National Bank's interest expense for loans was $284,000.
    Fayette County National Bank's payroll and benefits expense were $1,628,000.
    Fayette County National Bank's property, plant and equipment expenses $317,000.

    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 26.0%
    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 $125,202
    Deposits held in domestic offices $125,202
    Deposits by Individuals, partnerships, and corporations $83,423
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $41,779
    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 $57,061
    Demand deposits $25,701
    Nontransaction accounts $68,141
    Money market deposit accounts (MMDAs) $28,290
    Other savings deposits (excluding MMDAs) $25,931
    Total time deposits $13,920
    Total time and savings deposits $99,501
    Noninterest-bearing deposits $25,701
    Interest-bearing deposits $99,501
    Retail deposits $122,628
    IRAs and Keogh plan accounts $7,599
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $139,454
    Cash & Balances due from depository institutions $2,782
    Interest-bearing balances $1,505
    Total securities $72,510
    Federal funds sold & reverse repurchase $0
    Net loans and leases $61,666
    Loan and leases loss allowance $787
    Trading account assets $0
    Bank premises and fixed assets $1,144
    Other real estate owned $268
    Goodwill and other intangibles $0
    All other assets $1,084

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $139,454
    Total Liabilities $127,022
    Total deposits $125,202
    Interest-bearing deposits $99,501
    Deposits held in domestic offices $125,202
    % insured (estimated) $70
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $1,500
    Subordinated debt $0
    All other liabilities $320

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $61,666
    Loan and leases loss allowance $787
    Total loans and leases (domestic) $62,453
    All real estate loans $58,268
    Real estate loans in domestic offices $58,268
    Construction and development loans $3,626
    Residential 1-4 family construction $521
    Other construction, all land development and other land $3,105
    Loans secured by nonfarm nonresidential properties $6,184
    Nonfarm nonresidential secured by owner-occupied properties $5,442
    Commercial real estate & other non-farm, non-residential $742
    Multifamily residential real estate $810
    1-4 family residential loans $47,224
    Farmland loans $424
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $1,716
    To non-U.S. addressees $0
    Loans to individuals $2,738
    Credit card loans $0
    Related Plans $29
    Consumer Auto Loans $856
    Other loans to individuals $1,853
    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 $95
    Non 1-4 family restructured loans & leases $45
    Total loans and leases (foreign) $0

    Fayette County National Bank had $61,666,000 of loans outstanding in 2021. $58,268,000 of loans were in real estate loans. $3,626,000 of loans were in development loans. $810,000 of loans were in multifamily mortgage loans. $47,224,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $856,000 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 50 $6,184 $123,680
    Nonfarm, nonresidential loans - <$100k 18 $771 $42,833
    Nonfarm, nonresidential loans - $100-250k 22 $2,320 $105,455
    Nonfarm, nonresidential loans - $250k-1MM 10 $3,093 $309,300
    Commercial & Industrial, US addressed loans - <$1MM 39 $1,715 $43,974
    Commercial & Industrial, US addressed loans - <$100k 30 $665 $22,167
    Commercial & Industrial, US addressed loans - $100-250k 7 $731 $104,429
    Commercial & Industrial, US addressed loans - $250k-1MM 2 $319 $159,500
    Farmland loans - <$1MM 1 $34 $34,000
    Farmland loans - $250k-1MM 1 $34 $34,000