The Grant County Bank Mortgage Rates, Fees & Info

PETERSBURG, WV

LEI: 254900FAEHPIBKT6SS85

Tax ID: 55-0181210

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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

    The Grant County Bank is a smaller bank specializing in Home Purchase and Refi loans. The Grant County Bank has a high proportion of conventional loans. The Grant County Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cumberland, Elkins, Winchester, Morgantown, and Washington among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Grant County Bank has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. The Grant County Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    144

    Origination Dollar Volume (All Markets)

    $13,540,000

    Employee count

    75

    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 94 $7,660,000 $81,489 $1,209 5.27%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 25 $2,615,000 $104,600 $611 4.56%
    Elkins, WV (FHA|USDA|VA) 13 $1,205,000 $92,692 $911 5.11%
    WINCHESTER, VA-WV (FHA|USDA|VA) 4 $870,000 $217,500 $0 5.50%
    MORGANTOWN, WV (FHA|USDA|VA) 4 $700,000 $175,000 $0 5.25%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Fairmont, WV (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $55,000 $55,000 $0 4.55%
    The Grant County Bank's top markets include Cumberland, Elkins, Winchester, Morgantown, and Washington among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 95 $9,245,000 $97,316 $0 0.00%
    Conventional 49 $4,295,000 $87,653 $1,162 5.18%

    For 2018, The Grant County Bank's most frequently originated type of loan was Conventional, with 95 originations. Their 2nd most popular type was Conventional, with 49 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 59 $5,485,000 $92,966 $1,649 5.63%
    Refi 53 $5,355,000 $101,038 $204 4.66%
    Cash Out Refi 29 $2,605,000 $89,828 $1,660 5.10%
    Home Improvement 3 $95,000 $31,667 $1,020 5.22%

    For 2018, The Grant County Bank's most frequently cited loan purpose was Home Purchase, with 59 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 112 $10,310,000 $92,054 $537 5.31%
    20 Year 14 $1,200,000 $85,714 $1,541 5.56%
    30 Year 10 $1,680,000 $168,000 $1,861 4.52%
    15 Year 4 $180,000 $45,000 $1,483 5.33%
    10 Year 3 $155,000 $51,667 $480 4.65%
    5 Year 1 $15,000 $15,000 $600 5.30%

    For 2018, The Grant County Bank's most frequently cited loan duration was Other, with 112 originations. The 2nd most popular length was 20 Year, with 14 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 36 $2,750,000 $76,389
    $1k-2k 1 $225,000 $225,000

    The Grant County Bank's average total fees were $1,861, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 36 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 19 $1,515,000 $79,737
    5-6% 15 $1,235,000 $82,333
    6-7% 7 $435,000 $62,143
    3-4% 6 $1,000,000 $166,667
    7-8% 1 $75,000 $75,000
    Over 8% 1 $35,000 $35,000

    During 2018, The Grant County Bank's average interest rate for loans was 4.52%, while their most frequently originated rate bucket for loans was 4-5%, with 19 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 93 $4,935,000 $53,065 $1,014 5.36%
    $100k-200k 40 $5,540,000 $138,500 $1,720 4.81%
    $200k-400k 10 $2,500,000 $250,000 $1,706 4.23%
    $400k-600k 1 $565,000 $565,000 $0 0.00%

    2018 saw The Grant County Bank place emphasis on $100,000 or less loans with 93 originations, totaling $4,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 49 $3,515,000 $71,735 $1,061 5.28%
    $50k-75k 35 $3,085,000 $88,143 $1,873 5.51%
    $75k-100k 24 $2,480,000 $103,333 $991 4.42%
    $100k-150k 15 $1,955,000 $130,333 $676 4.87%
    $150k-250k 10 $1,010,000 $101,000 $0 0.00%
    $250k+ 2 $150,000 $75,000 $0 0.00%

    The Grant County Bank lent most frequently to those with incomes in the $50k or less range, with 49 originations. The second most popular income band? $50k-75k, with 35 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 95 $9,245,000 $97,316 $0 0.00%
    20-30% 14 $1,010,000 $72,143 $1,377 5.35%
    30-36% 9 $865,000 $96,111 $782 4.94%
    <20% 7 $435,000 $62,143 $859 5.06%
    41% 2 $270,000 $135,000 $2,064 5.30%
    43% 2 $110,000 $55,000 $604 5.73%
    36% 2 $250,000 $125,000 $1,816 5.48%
    48% 1 $25,000 $25,000 $0 4.30%
    50-60% 1 $95,000 $95,000 $0 6.39%
    >60% 1 $55,000 $55,000 $0 5.00%
    44% 1 $125,000 $125,000 $2,278 4.90%
    40% 1 $15,000 $15,000 $600 5.30%
    37% 1 $85,000 $85,000 $2,516 6.39%

    The Grant County Bank lent most frequently to those with DTI ratios of Exempt%, with 95 originations. The next most common DTI ratio? 20-30%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 139 $13,035,000 $93,777 $1,162 5.18%
    Not applicable 4 $470,000 $117,500 $0 5.25%
    Black 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.79%

    The Grant County Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.81%

    The Grant County Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 95 $9,245,000 $97,316
    NA 49 $4,295,000 $87,653

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 35 $2,015,000 $57,571
    Single Family (1-4 Units):Site-Built 109 $11,525,000 $105,734

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 8 $340,000 $42,500 $509 4.89%
    40-60% 10 $700,000 $70,000 $528 4.64%
    60-80% 14 $1,410,000 $100,714 $1,303 5.32%
    80-100% 15 $1,575,000 $105,000 $1,619 5.55%
    Under 20% 2 $270,000 $135,000 $600 5.28%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Grant County Bank 3 North Main Street Petersburg, WV 26847 Full Service B&M $103,582
    The Grant County Bank 500 South Main Street Moorefield, WV 26836 Full Service B&M $12,946
    The Grant County Bank Main Street Harman, WV 26270 Full Service B&M $19,430
    The Grant County Bank Route 220 Keyser, WV 26726 Full Service B&M $35,687
    The Grant County Bank Route 32, Canaan Valley Davis, WV 26260 Full Service B&M $13,031
    The Grant County Bank U.S. Highway 33 Riverton, WV 26814 Full Service B&M $14,317
    The Grant County Bank William Avenue Davis, WV 26260 Full Service B&M $17,252

    For 2018, The Grant County Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $11,948
    Net interest income $10,753
    Total noninterest income $1,062
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $641
    Trading account gains and fees $0
    Additional Noninterest Income $421
    Pre-tax net operating income $3,611
    Securities gains (or losses, -) $-7
    Income before extraordinary items $2,852
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,852
    Minority interest net income $0
    Net income $2,852
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,857

    The Grant County Bank's gross interest income from loans was $11,948,000.
    The Grant County Bank's net interest income from loans was $10,753,000.
    The Grant County Bank's fee based income from loans was $641,000.
    The Grant County Bank's net income from loans was $2,852,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,195
    Provision for credit losses $208
    Total noninterest expense $7,996
    Salaries and employee benefits $4,581
    Premises and equipment expense $865
    Additional noninterest expense $2,550
    Applicable income taxes $752
    Net charge-offs $137
    Cash dividends $1,734

    The Grant County Bank's interest expense for loans was $1,195,000.
    The Grant County Bank's payroll and benefits expense were $4,581,000.
    The Grant County Bank's property, plant and equipment expenses $865,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 1.0%
    All other family 3.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $214,444
    Deposits held in domestic offices $214,444
    Deposits by Individuals, partnerships, and corporations $198,370
    Deposits by U.S. Government $598
    Deposits by States and political subdivisions in the U.S. $15,192
    Deposits by Commercial banks and other depository institutions in U.S. $284
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $81,295
    Demand deposits $58,230
    Nontransaction accounts $133,149
    Money market deposit accounts (MMDAs) $12,341
    Other savings deposits (excluding MMDAs) $38,533
    Total time deposits $82,276
    Total time and savings deposits $156,214
    Noninterest-bearing deposits $58,230
    Interest-bearing deposits $156,214
    Retail deposits $200,309
    IRAs and Keogh plan accounts $17,611
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $259,912
    Cash & Balances due from depository institutions $11,160
    Interest-bearing balances $6,874
    Total securities $17,797
    Federal funds sold & reverse repurchase $4,725
    Net loans and leases $207,425
    Loan and leases loss allowance $2,059
    Trading account assets $0
    Bank premises and fixed assets $7,786
    Other real estate owned $1,362
    Goodwill and other intangibles $1,578
    All other assets $8,079

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $259,912
    Total Liabilities $226,796
    Total deposits $214,444
    Interest-bearing deposits $156,214
    Deposits held in domestic offices $214,444
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $6,911
    Subordinated debt $0
    All other liabilities $5,441

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $207,425
    Loan and leases loss allowance $2,059
    Total loans and leases (domestic) $209,484
    All real estate loans $178,899
    Real estate loans in domestic offices $178,899
    Construction and development loans $12,582
    Residential 1-4 family construction $3,960
    Other construction, all land development and other land $8,622
    Loans secured by nonfarm nonresidential properties $71,152
    Nonfarm nonresidential secured by owner-occupied properties $47,444
    Commercial real estate & other non-farm, non-residential $23,708
    Multifamily residential real estate $5,939
    1-4 family residential loans $81,155
    Farmland loans $8,071
    Loans held in foreign offices $0
    Farm loans $584
    Commercial and industrial loans $18,945
    To non-U.S. addressees $0
    Loans to individuals $8,529
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,940
    Other loans to individuals $5,589
    All other loans & leases $2,527
    Loans to foreign governments and official institutions $0
    Other loans $68
    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 $1,902
    Non 1-4 family restructured loans & leases $1,606
    Total loans and leases (foreign) $0

    The Grant County Bank had $207,425,000 of loans outstanding in 2018. $178,899,000 of loans were in real estate loans. $12,582,000 of loans were in development loans. $5,939,000 of loans were in multifamily mortgage loans. $81,155,000 of loans were in 1-4 family mortgage loans. $584,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,940,000 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 305 $43,969 $144,161
    Nonfarm, nonresidential loans - <$100k 132 $4,667 $35,356
    Nonfarm, nonresidential loans - $100-250k 84 $9,531 $113,464
    Nonfarm, nonresidential loans - $250k-1MM 89 $29,771 $334,506
    Commercial & Industrial, US addressed loans - <$1MM 337 $10,686 $31,709
    Commercial & Industrial, US addressed loans - <$100k 289 $4,741 $16,405
    Commercial & Industrial, US addressed loans - $100-250k 34 $2,476 $72,824
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $3,469 $247,786
    Farmland loans - <$1MM 47 $4,946 $105,234
    Farmland loans - <$100k 25 $847 $33,880
    Farmland loans - $100-250k 11 $1,478 $134,364
    Farmland loans - $250k-1MM 11 $2,621 $238,273
    Agriculture operations loans - <$1MM 36 $584 $16,222
    Agriculture operations loans - <$100k 35 $364 $10,400
    Agriculture operations loans - $100-250k 1 $220 $220,000