The Conway National Bank Mortgage Rates, Fees & Info
Conway, SCLEI: 2549008EFPQHWHJ5MO60
Tax ID: 57-0146256
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Mortgage Data
Bank Data
Review & Overview
The Conway National Bank is a smaller bank specializing in Refi and Home Purchase loans. The Conway National Bank has a high proportion of conventional loans. Their top markets by origination volume include: Myrtle Beach, Georgetown, Charleston, Florence, and Sumter among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)The Conway National Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
431Origination Dollar Volume (All Markets)
$72,305,000Employee count
254Top 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 |
|---|---|---|---|---|---|
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 384 | $58,220,000 | $151,615 | $0 | 0.00% |
| Georgetown, SC (FHA|USDA|VA) | 37 | $11,245,000 | $303,919 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 2 | $1,530,000 | $765,000 | $0 | 0.00% |
| FLORENCE, SC (FHA|USDA|VA) | 2 | $550,000 | $275,000 | $0 | 0.00% |
| SUMTER, SC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Seneca, SC (FHA|USDA|VA) | 1 | $225,000 | $225,000 | $0 | 0.00% |
| Outside of Metro Areas | 3 | $155,000 | $51,667 | $0 | 0.00% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
Their top states include:
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 431 | $72,305,000 | $167,761 | $0 | 0.00% |
For 2020, The Conway National Bank's most frequently originated type of loan was Conventional, with 431 originations.
Loan Reason
For 2020, The Conway National Bank's most frequently cited loan purpose was Refi, with 285 originations. The 2nd most popular reason was Home Purchase, with 124 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 431 | $72,305,000 | $167,761 | $0 | 0.00% |
For 2020, The Conway National Bank's most frequently cited loan duration was Other, with 431 originations.
Loan Sizing
2020 saw The Conway National Bank place emphasis on $100,000 or less loans with 200 originations, totaling $11,200,000 in origination value.
Applicant Income
The Conway National Bank lent most frequently to those with incomes in the $50k or less range, with 79 originations. The second most popular income band? $50k-75k, with 65 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 431 | $72,305,000 | $167,761 | $0 | 0.00% |
The Conway National Bank lent most frequently to those with DTI ratios of Exempt%, with 431 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications96.01%
The Conway National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination99.54%
The Conway National Bank has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 431 | $72,305,000 | $167,761 |
Occupancy Type Mix
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| The Conway National Bank | 10608 Ocean Highway Pawleys Island, SC 29585 | Full Service B&M | $19,517 |
| The Conway National Bank | 110 Highway 17 North North Myrtle Beach, SC 29582 | Full Service B&M | $23,500 |
| The Conway National Bank | 1352 21st Avenue North Myrtle Beach, SC 29577 | Full Service B&M | $139,727 |
| The Conway National Bank | 1400 Third Avenue Conway, SC 29526 | Full Service B&M | $0 |
| The Conway National Bank | 1411 Fourth Avenue Conway, SC 29526 | Full Service B&M | $358,277 |
| The Conway National Bank | 2380 Highway 9 East Conway, SC 29526 | Full Service B&M | $41,349 |
| The Conway National Bank | 2601 Main Street Conway, SC 29526 | Full Service B&M | $51,715 |
| The Conway National Bank | 2605 Highway 501 Aynor, SC 29511 | Full Service B&M | $45,668 |
| The Conway National Bank | 2810 Church Street Conway, SC 29526 | Full Service B&M | $38,536 |
| The Conway National Bank | 309 Main Street Conway, SC 29526 | Full Service B&M | $13,590 |
| The Conway National Bank | 3591 Northgate Drive Myrtle Beach, SC 29588 | Full Service B&M | $47,911 |
| The Conway National Bank | 4100 River Oaks Drive Myrtle Beach, SC 29579 | Full Service B&M | $10,566 |
| The Conway National Bank | 4345 Highway 17 Bypass Murrells Inlet, SC 29576 | Full Service B&M | $76,313 |
| The Conway National Bank | Fifth Avenue And Highway 17 Surfside Beach, SC 29577 | Full Service B&M | $174,105 |
| The Conway National Bank | Highway 17 And Chestnut Road North Myrtle Beach, SC 29582 | Full Service B&M | $63,584 |
| The Conway National Bank | U.S. 501 And State Highway 544 Horry County, SC 29526 | Full Service B&M | $66,415 |
For 2020, The Conway National Bank had 16 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $41,951 |
| Net interest income | $37,537 |
| Total noninterest income | $8,479 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $2,149 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $6,330 |
| Pre-tax net operating income | $18,107 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $14,066 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $14,066 |
| Minority interest net income | $0 |
| Net income | $14,066 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $14,066 |
The Conway National Bank's gross interest income from loans was $41,951,000.
The Conway National Bank's net interest income from loans was $37,537,000.
The Conway National Bank's fee based income from loans was $2,149,000.
The Conway National Bank's net income from loans was $14,066,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $4,414 |
| Provision for credit losses | $763 |
| Total noninterest expense | $27,146 |
| Salaries and employee benefits | $17,413 |
| Premises and equipment expense | $3,444 |
| Additional noninterest expense | $6,289 |
| Applicable income taxes | $4,041 |
| Net charge-offs | $-93 |
| Cash dividends | $6,726 |
The Conway National Bank's interest expense for loans was $4,414,000.
The Conway National Bank's payroll and benefits expense were $17,413,000.
The Conway National Bank's property, plant and equipment expenses $3,444,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 0.0% |
| Real Estate loans | 0.0% |
| Construction & Land Development loans | 2.0% |
| Nonfarm, nonresidential loans | 0.0% |
| 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 | 1.8% |
| 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 | $1,240,870 |
| Deposits held in domestic offices | $1,240,870 |
| Deposits by Individuals, partnerships, and corporations | $1,176,736 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $64,134 |
| 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 | $185,313 |
| Demand deposits | $143,899 |
| Nontransaction accounts | $1,055,557 |
| Money market deposit accounts (MMDAs) | $587,938 |
| Other savings deposits (excluding MMDAs) | $196,501 |
| Total time deposits | $271,118 |
| Total time and savings deposits | $1,096,971 |
| Noninterest-bearing deposits | $378,618 |
| Interest-bearing deposits | $862,252 |
| Retail deposits | $1,158,530 |
| IRAs and Keogh plan accounts | $46,424 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,497,538 |
| Cash & Balances due from depository institutions | $54,413 |
| Interest-bearing balances | $31,817 |
| Total securities | $809,454 |
| Federal funds sold & reverse repurchase | $20,484 |
| Net loans and leases | $581,089 |
| Loan and leases loss allowance | $7,267 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $17,709 |
| Other real estate owned | $155 |
| Goodwill and other intangibles | $0 |
| All other assets | $14,234 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,497,538 |
| Total Liabilities | $1,365,531 |
| Total deposits | $1,240,870 |
| Interest-bearing deposits | $862,252 |
| Deposits held in domestic offices | $1,240,870 |
| % insured (estimated) | $81 |
| Federal funds purchased and repurchase agreements | $116,256 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $0 |
| All other liabilities | $8,405 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $581,089 |
| Loan and leases loss allowance | $7,267 |
| Total loans and leases (domestic) | $588,356 |
| All real estate loans | $422,446 |
| Real estate loans in domestic offices | $422,446 |
| Construction and development loans | $76,861 |
| Residential 1-4 family construction | $23,021 |
| Other construction, all land development and other land | $53,840 |
| Loans secured by nonfarm nonresidential properties | $154,649 |
| Nonfarm nonresidential secured by owner-occupied properties | $85,232 |
| Commercial real estate & other non-farm, non-residential | $69,417 |
| Multifamily residential real estate | $4,688 |
| 1-4 family residential loans | $174,885 |
| Farmland loans | $11,363 |
| Loans held in foreign offices | $0 |
| Farm loans | $619 |
| Commercial and industrial loans | $111,178 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $49,154 |
| Credit card loans | $2,552 |
| Related Plans | $1,125 |
| Consumer Auto Loans | $19,667 |
| Other loans to individuals | $25,810 |
| All other loans & leases | $4,959 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $188 |
| Loans to depository institutions and acceptances of other banks | $0 |
| Loans not secured by real estate | $106 |
| Loans secured by real estate to non-U.S. addressees | $0 |
| Restructured Loans & leases | $78 |
| Non 1-4 family restructured loans & leases | $78 |
| Total loans and leases (foreign) | $0 |
The Conway National Bank had $581,089,000 of loans outstanding in 2020. $422,446,000 of loans were in real estate loans. $76,861,000 of loans were in development loans. $4,688,000 of loans were in multifamily mortgage loans. $174,885,000 of loans were in 1-4 family mortgage loans. $619,000 of loans were in farm loans. $2,552,000 of loans were in credit card loans. $19,667,000 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 | 383 | $95,131 | $248,384 |
| Nonfarm, nonresidential loans - <$100k | 54 | $2,404 | $44,519 |
| Nonfarm, nonresidential loans - $100-250k | 126 | $15,991 | $126,913 |
| Nonfarm, nonresidential loans - $250k-1MM | 203 | $76,736 | $378,010 |
| Commercial & Industrial, US addressed loans - <$1MM | 1,856 | $93,533 | $50,395 |
| Commercial & Industrial, US addressed loans - <$100k | 1,523 | $36,925 | $24,245 |
| Commercial & Industrial, US addressed loans - $100-250k | 220 | $26,021 | $118,277 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 113 | $30,587 | $270,681 |
| Farmland loans - <$1MM | 100 | $8,721 | $87,210 |
| Farmland loans - <$100k | 46 | $1,984 | $43,130 |
| Farmland loans - $100-250k | 42 | $4,591 | $109,310 |
| Farmland loans - $250k-1MM | 12 | $2,146 | $178,833 |
| Agriculture operations loans - <$1MM | 20 | $619 | $30,950 |
| Agriculture operations loans - <$100k | 16 | $292 | $18,250 |
| Agriculture operations loans - $100-250k | 4 | $327 | $81,750 |