Woodsfield Savings Bank Mortgage Rates, Fees & Info

Woodsfield, OH

LEI: 2549005VXCHU3KAB6N44

Tax ID: 34-0627390

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Mortgage Data

Bank Data

Review & Overview

Woodsfield Savings Bank is a smaller bank specializing in Cash Out Refi and Home Purchase loans. Woodsfield Savings Bank has a high proportion of conventional loans. Woodsfield Savings Bank has a low ratio of conventional loans. Their top markets by origination volume include: Wheeling, Cambridge, Columbus, and Canton among others. We have data for 5 markets. (Some data included below & more in-depth data is available with an active subscription.)

Woodsfield Savings 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

84

Origination Dollar Volume (All Markets)

$11,400,000

Employee count

18

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
Outside of Metro Areas 51 $7,005,000 $137,353 $850 2.50%
WHEELING, WV-OH (FHA|USDA|VA) 25 $2,915,000 $116,600 $0 0.00%
Cambridge, OH (FHA|USDA|VA) 5 $1,005,000 $201,000 $0 0.00%
COLUMBUS, OH (FHA|USDA|VA) 2 $250,000 $125,000 $0 0.00%
CANTON-MASSILLON, OH (FHA|USDA|VA) 1 $225,000 $225,000 $0 0.00%
Woodsfield Savings Bank's top markets include Wheeling, Cambridge, Columbus, and Canton among others.

Their top states include:
  • Ohio (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 83 $11,355,000 $136,807 $0 0.00%
    Conventional 1 $45,000 $45,000 $850 2.50%

    For 2020, Woodsfield Savings Bank's most frequently originated type of loan was Conventional, with 83 originations. Their 2nd most popular type was Conventional, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 41 $6,535,000 $159,390 $0 0.00%
    Home Purchase 34 $3,540,000 $104,118 $0 0.00%
    Other 6 $1,160,000 $193,333 $850 2.50%
    Refi 3 $165,000 $55,000 $0 0.00%

    For 2020, Woodsfield Savings Bank's most frequently cited loan purpose was Cash Out Refi, with 41 originations. The 2nd most popular reason was Home Purchase, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 83 $11,355,000 $136,807 $0 0.00%
    20 Year 1 $45,000 $45,000 $850 2.50%

    For 2020, Woodsfield Savings Bank's most frequently cited loan duration was Other, with 83 originations. The 2nd most popular length was 20 Year, with 1 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 1 $45,000 $45,000

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

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    <2.5% 1 $45,000 $45,000

    During 2020, Woodsfield Savings Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was <2.5%, with 1 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 36 $2,060,000 $57,222 $850 2.50%
    $100k-200k 34 $4,860,000 $142,941 $0 0.00%
    $200k-400k 10 $2,590,000 $259,000 $0 0.00%
    $400k-600k 4 $1,890,000 $472,500 $0 0.00%

    2020 saw Woodsfield Savings Bank place emphasis on $100,000 or less loans with 36 originations, totaling $2,060,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 26 $2,200,000 $84,615 $0 0.00%
    $50k-75k 23 $2,895,000 $125,870 $850 2.50%
    $75k-100k 18 $2,700,000 $150,000 $0 0.00%
    $100k-150k 8 $1,280,000 $160,000 $0 0.00%
    $150k-250k 7 $1,265,000 $180,714 $0 0.00%
    $250k+ 2 $1,060,000 $530,000 $0 0.00%

    Woodsfield Savings Bank lent most frequently to those with incomes in the $50k or less range, with 26 originations. The second most popular income band? $50k-75k, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 83 $11,355,000 $136,807 $0 0.00%
    20-30% 1 $45,000 $45,000 $850 2.50%

    Woodsfield Savings Bank lent most frequently to those with DTI ratios of Exempt%, with 83 originations. The next most common DTI ratio? 20-30%, with 1 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 84 $11,400,000 $135,714 $850 2.50%

    Approval Rates

    Total approvals of all applications
    91.60%

    Woodsfield Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    70.24%

    Woodsfield Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 83 $11,355,000 $136,807
    NA 1 $45,000 $45,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 84 $11,400,000 $135,714

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 1 $45,000 $45,000 $850 2.50%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Woodsfield Savings Bank 201 N Chestnut St Barnesville, OH 43713 Full Service B&M $11,958
    Woodsfield Savings Bank 600 Lewisville Road Woodsfield, OH 43793 Full Service B&M $57,698

    For 2020, Woodsfield Savings Bank had 2 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $2,829
    Net interest income $2,471
    Total noninterest income $225
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $62
    Trading account gains and fees $0
    Additional Noninterest Income $163
    Pre-tax net operating income $453
    Securities gains (or losses, -) $0
    Income before extraordinary items $377
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $377
    Minority interest net income $0
    Net income $377
    Sale, conversion, retirement of capital stock, net $950
    Net operating income $377

    Woodsfield Savings Bank's gross interest income from loans was $2,829,000.
    Woodsfield Savings Bank's net interest income from loans was $2,471,000.
    Woodsfield Savings Bank's fee based income from loans was $62,000.
    Woodsfield Savings Bank's net income from loans was $377,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $358
    Provision for credit losses $71
    Total noninterest expense $2,172
    Salaries and employee benefits $934
    Premises and equipment expense $306
    Additional noninterest expense $932
    Applicable income taxes $76
    Net charge-offs $21
    Cash dividends $116

    Woodsfield Savings Bank's interest expense for loans was $358,000.
    Woodsfield Savings Bank's payroll and benefits expense were $934,000.
    Woodsfield Savings Bank's property, plant and equipment expenses $306,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 5.0%
    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 1.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $68,607
    Deposits held in domestic offices $68,607
    Deposits by Individuals, partnerships, and corporations $66,517
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $2,090
    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 $20,961
    Demand deposits $16,894
    Nontransaction accounts $47,646
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $31,874
    Total time deposits $15,773
    Total time and savings deposits $51,713
    Noninterest-bearing deposits $16,894
    Interest-bearing deposits $51,713
    Retail deposits $67,841
    IRAs and Keogh plan accounts $1,567
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $76,066
    Cash & Balances due from depository institutions $13,783
    Interest-bearing balances $12,964
    Total securities $10,770
    Federal funds sold & reverse repurchase $0
    Net loans and leases $48,789
    Loan and leases loss allowance $397
    Trading account assets $0
    Bank premises and fixed assets $2,063
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $661

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $76,066
    Total Liabilities $68,964
    Total deposits $68,607
    Interest-bearing deposits $51,713
    Deposits held in domestic offices $68,607
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $357

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $48,789
    Loan and leases loss allowance $397
    Total loans and leases (domestic) $49,186
    All real estate loans $39,867
    Real estate loans in domestic offices $39,867
    Construction and development loans $3,919
    Residential 1-4 family construction $3,332
    Other construction, all land development and other land $587
    Loans secured by nonfarm nonresidential properties $4,710
    Nonfarm nonresidential secured by owner-occupied properties $3,119
    Commercial real estate & other non-farm, non-residential $1,591
    Multifamily residential real estate $0
    1-4 family residential loans $31,238
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $24
    Commercial and industrial loans $1,912
    To non-U.S. addressees $0
    Loans to individuals $7,377
    Credit card loans $0
    Related Plans $23
    Consumer Auto Loans $5,919
    Other loans to individuals $1,435
    All other loans & leases $6
    Loans to foreign governments and official institutions $0
    Other loans $6
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Woodsfield Savings Bank had $48,789,000 of loans outstanding in 2020. $39,867,000 of loans were in real estate loans. $3,919,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $31,238,000 of loans were in 1-4 family mortgage loans. $24,000 of loans were in farm loans. $0 of loans were in credit card loans. $5,919,000 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 33 $4,710 $142,727
    Nonfarm, nonresidential loans - <$100k 19 $829 $43,632
    Nonfarm, nonresidential loans - $100-250k 8 $1,046 $130,750
    Nonfarm, nonresidential loans - $250k-1MM 6 $2,835 $472,500
    Commercial & Industrial, US addressed loans - <$1MM 50 $1,912 $38,240
    Commercial & Industrial, US addressed loans - <$100k 43 $811 $18,860
    Commercial & Industrial, US addressed loans - $100-250k 6 $760 $126,667
    Commercial & Industrial, US addressed loans - $250k-1MM 1 $341 $341,000
    Agriculture operations loans - <$1MM 2 $23 $11,500
    Agriculture operations loans - <$100k 2 $23 $11,500