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 Refi and Cash Out Refi loans. The Grant County Bank has a high proportion of conventional loans. Their top markets by origination volume include: Cumberland, Hagerstown, Elkins, Winchester, and Morgantown among others. We have data for 6 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.

    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

    120

    Origination Dollar Volume (All Markets)

    $13,850,000

    Employee count

    73

    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 80 $8,110,000 $101,375 $0 0.00%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 19 $1,935,000 $101,842 $0 0.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 5 $1,735,000 $347,000 $0 0.00%
    Elkins, WV (FHA|USDA|VA) 8 $1,020,000 $127,500 $0 0.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 7 $935,000 $133,571 $0 0.00%
    MORGANTOWN, WV (FHA|USDA|VA) 1 $115,000 $115,000 $0 0.00%
    The Grant County Bank's top markets include Cumberland, Hagerstown, Elkins, Winchester, and Morgantown 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 120 $13,850,000 $115,417 $0 0.00%

    For 2019, The Grant County Bank's most frequently originated type of loan was Conventional, with 120 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 52 $5,820,000 $111,923 $0 0.00%
    Home Purchase 32 $2,560,000 $80,000 $0 0.00%
    Cash Out Refi 24 $4,850,000 $202,083 $0 0.00%
    Other 9 $495,000 $55,000 $0 0.00%
    Home Improvement 3 $125,000 $41,667 $0 0.00%

    For 2019, The Grant County Bank's most frequently cited loan purpose was Refi, with 52 originations. The 2nd most popular reason was Home Purchase, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 120 $13,850,000 $115,417 $0 0.00%

    For 2019, The Grant County Bank's most frequently cited loan duration was Other, with 120 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 72 $3,710,000 $51,528 $0 0.00%
    $100k-200k 36 $4,630,000 $128,611 $0 0.00%
    $200k-400k 7 $1,985,000 $283,571 $0 0.00%
    $400k-600k 4 $2,010,000 $502,500 $0 0.00%
    $1MM+ 1 $1,515,000 $1,515,000 $0 0.00%

    2019 saw The Grant County Bank place emphasis on $100,000 or less loans with 72 originations, totaling $3,710,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 39 $2,855,000 $73,205 $0 0.00%
    $50k-75k 32 $2,770,000 $86,563 $0 0.00%
    $75k-100k 20 $2,600,000 $130,000 $0 0.00%
    $100k-150k 14 $2,030,000 $145,000 $0 0.00%
    $250k+ 6 $2,720,000 $453,333 $0 0.00%
    $150k-250k 4 $410,000 $102,500 $0 0.00%

    The Grant County 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 32 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 120 $13,850,000 $115,417 $0 0.00%

    The Grant County Bank lent most frequently to those with DTI ratios of Exempt%, with 120 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 113 $12,875,000 $113,938 $0 0.00%
    Not applicable 4 $390,000 $97,500 $0 0.00%
    Asian 1 $325,000 $325,000 $0 0.00%
    Not provided 1 $155,000 $155,000 $0 0.00%
    Black 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    85.87%

    The Grant County Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    68.33%

    The Grant County Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 120 $13,850,000 $115,417

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $1,515,000 $1,515,000
    Single Family (1-4 Units):Manufactured 23 $1,315,000 $57,174
    Single Family (1-4 Units):Site-Built 96 $11,020,000 $114,792

    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 $105,434
    The Grant County Bank 500 South Main Street Moorefield, WV 26836 Full Service B&M $12,317
    The Grant County Bank Main Street Harman, WV 26270 Full Service B&M $18,803
    The Grant County Bank Route 220 Keyser, WV 26726 Full Service B&M $30,943
    The Grant County Bank Route 32, Canaan Valley Davis, WV 26260 Full Service B&M $13,513
    The Grant County Bank U.S. Highway 33 Riverton, WV 26814 Full Service B&M $14,526
    The Grant County Bank William Avenue Davis, WV 26260 Full Service B&M $17,734

    For 2019, The Grant County Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,395
    Net interest income $10,604
    Total noninterest income $1,251
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $738
    Trading account gains and fees $0
    Additional Noninterest Income $513
    Pre-tax net operating income $3,404
    Securities gains (or losses, -) $0
    Income before extraordinary items $2,686
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,686
    Minority interest net income $0
    Net income $2,686
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,686

    The Grant County Bank's gross interest income from loans was $12,395,000.
    The Grant County Bank's net interest income from loans was $10,604,000.
    The Grant County Bank's fee based income from loans was $738,000.
    The Grant County Bank's net income from loans was $2,686,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,791
    Provision for credit losses $231
    Total noninterest expense $8,220
    Salaries and employee benefits $4,635
    Premises and equipment expense $894
    Additional noninterest expense $2,691
    Applicable income taxes $718
    Net charge-offs $195
    Cash dividends $1,909

    The Grant County Bank's interest expense for loans was $1,791,000.
    The Grant County Bank's payroll and benefits expense were $4,635,000.
    The Grant County Bank's property, plant and equipment expenses $894,000.

    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 7.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 3.0%
    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 $216,058
    Deposits held in domestic offices $216,058
    Deposits by Individuals, partnerships, and corporations $199,465
    Deposits by U.S. Government $555
    Deposits by States and political subdivisions in the U.S. $10,742
    Deposits by Commercial banks and other depository institutions in U.S. $5,296
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $79,250
    Demand deposits $54,827
    Nontransaction accounts $136,808
    Money market deposit accounts (MMDAs) $13,555
    Other savings deposits (excluding MMDAs) $38,066
    Total time deposits $85,187
    Total time and savings deposits $161,231
    Noninterest-bearing deposits $54,827
    Interest-bearing deposits $161,231
    Retail deposits $198,282
    IRAs and Keogh plan accounts $17,457
    Brokered deposits $5,084
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $260,357
    Cash & Balances due from depository institutions $8,764
    Interest-bearing balances $5,450
    Total securities $17,895
    Federal funds sold & reverse repurchase $8,358
    Net loans and leases $206,811
    Loan and leases loss allowance $2,095
    Trading account assets $0
    Bank premises and fixed assets $8,054
    Other real estate owned $792
    Goodwill and other intangibles $1,566
    All other assets $8,117

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $260,357
    Total Liabilities $226,291
    Total deposits $216,058
    Interest-bearing deposits $161,231
    Deposits held in domestic offices $216,058
    % insured (estimated) $91
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $4,827
    Subordinated debt $0
    All other liabilities $5,406

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $206,811
    Loan and leases loss allowance $2,095
    Total loans and leases (domestic) $208,906
    All real estate loans $179,427
    Real estate loans in domestic offices $179,427
    Construction and development loans $11,669
    Residential 1-4 family construction $1,968
    Other construction, all land development and other land $9,701
    Loans secured by nonfarm nonresidential properties $73,126
    Nonfarm nonresidential secured by owner-occupied properties $51,053
    Commercial real estate & other non-farm, non-residential $22,073
    Multifamily residential real estate $5,561
    1-4 family residential loans $80,481
    Farmland loans $8,590
    Loans held in foreign offices $0
    Farm loans $594
    Commercial and industrial loans $18,705
    To non-U.S. addressees $0
    Loans to individuals $7,811
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,575
    Other loans to individuals $5,236
    All other loans & leases $2,369
    Loans to foreign governments and official institutions $0
    Other loans $72
    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 $1,632
    Non 1-4 family restructured loans & leases $1,548
    Total loans and leases (foreign) $0

    The Grant County Bank had $206,811,000 of loans outstanding in 2019. $179,427,000 of loans were in real estate loans. $11,669,000 of loans were in development loans. $5,561,000 of loans were in multifamily mortgage loans. $80,481,000 of loans were in 1-4 family mortgage loans. $594,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,575,000 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 290 $37,595 $129,638
    Nonfarm, nonresidential loans - <$100k 135 $4,695 $34,778
    Nonfarm, nonresidential loans - $100-250k 72 $8,347 $115,931
    Nonfarm, nonresidential loans - $250k-1MM 83 $24,553 $295,819
    Commercial & Industrial, US addressed loans - <$1MM 290 $9,943 $34,286
    Commercial & Industrial, US addressed loans - <$100k 244 $3,663 $15,012
    Commercial & Industrial, US addressed loans - $100-250k 34 $2,922 $85,941
    Commercial & Industrial, US addressed loans - $250k-1MM 12 $3,358 $279,833
    Farmland loans - <$1MM 54 $6,276 $116,222
    Farmland loans - <$100k 28 $875 $31,250
    Farmland loans - $100-250k 13 $1,866 $143,538
    Farmland loans - $250k-1MM 13 $3,535 $271,923
    Agriculture operations loans - <$1MM 37 $594 $16,054
    Agriculture operations loans - <$100k 36 $392 $10,889
    Agriculture operations loans - $100-250k 1 $202 $202,000