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, Refi, and Cash Out Refi loans. The Grant County Bank has a high proportion of conventional loans. Their top markets by origination volume include: Elkins, Cumberland, Morgantown, Washington, and Pittsburgh among others. We have data for 7 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

    95

    Origination Dollar Volume (All Markets)

    $9,495,000

    Employee count

    78

    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 71 $6,315,000 $88,944 $0 0.00%
    Elkins, WV (FHA|USDA|VA) 8 $860,000 $107,500 $0 0.00%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 9 $765,000 $85,000 $0 0.00%
    MORGANTOWN, WV (FHA|USDA|VA) 4 $560,000 $140,000 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $395,000 $395,000 $0 0.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    The Grant County Bank's top markets include Elkins, Cumberland, Morgantown, Washington, and Pittsburgh among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 95 $9,495,000 $99,947 $0 0.00%

    For 2020, The Grant County Bank's most frequently originated type of loan was Conventional, with 95 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 48 $4,580,000 $95,417 $0 0.00%
    Refi 22 $2,190,000 $99,545 $0 0.00%
    Cash Out Refi 16 $2,380,000 $148,750 $0 0.00%
    Other 6 $280,000 $46,667 $0 0.00%
    Home Improvement 3 $65,000 $21,667 $0 0.00%

    For 2020, The Grant County Bank's most frequently cited loan purpose was Home Purchase, with 48 originations. The 2nd most popular reason was Refi, with 22 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 95 $9,495,000 $99,947 $0 0.00%

    For 2020, The Grant County Bank's most frequently cited loan duration was Other, with 95 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 64 $3,590,000 $56,094 $0 0.00%
    $100k-200k 23 $3,355,000 $145,870 $0 0.00%
    $200k-400k 6 $1,690,000 $281,667 $0 0.00%
    $400k-600k 2 $860,000 $430,000 $0 0.00%

    2020 saw The Grant County Bank place emphasis on $100,000 or less loans with 64 originations, totaling $3,590,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 33 $2,075,000 $62,879 $0 0.00%
    $50k-75k 18 $1,520,000 $84,444 $0 0.00%
    $100k-150k 13 $1,985,000 $152,692 $0 0.00%
    $75k-100k 13 $1,325,000 $101,923 $0 0.00%
    $150k-250k 7 $695,000 $99,286 $0 0.00%
    $250k+ 2 $640,000 $320,000 $0 0.00%

    The Grant County Bank lent most frequently to those with incomes in the $50k or less range, with 33 originations. The second most popular income band? $50k-75k, with 18 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 95 $9,495,000 $99,947 $0 0.00%

    The Grant County Bank lent most frequently to those with DTI ratios of Exempt%, with 95 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 87 $8,185,000 $94,080 $0 0.00%
    Not applicable 6 $1,080,000 $180,000 $0 0.00%
    Asian 1 $165,000 $165,000 $0 0.00%
    American Indian 1 $65,000 $65,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    79.87%

    The Grant County Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    70.53%

    The Grant County Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 95 $9,495,000 $99,947

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $390,000 $195,000
    Single Family (1-4 Units):Manufactured 16 $890,000 $55,625
    Single Family (1-4 Units):Site-Built 77 $8,215,000 $106,688

    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 $117,577
    The Grant County Bank 500 South Main Street Moorefield, WV 26836 Full Service B&M $12,128
    The Grant County Bank Main Street Harman, WV 26270 Full Service B&M $18,545
    The Grant County Bank Route 220 Keyser, WV 26726 Full Service B&M $33,380
    The Grant County Bank Route 32, Canaan Valley Davis, WV 26260 Full Service B&M $17,160
    The Grant County Bank U.S. Highway 33 Riverton, WV 26814 Full Service B&M $15,941
    The Grant County Bank William Avenue Davis, WV 26260 Full Service B&M $20,742

    For 2020, The Grant County Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,009
    Net interest income $10,370
    Total noninterest income $1,205
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $567
    Trading account gains and fees $0
    Additional Noninterest Income $638
    Pre-tax net operating income $2,781
    Securities gains (or losses, -) $49
    Income before extraordinary items $2,274
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,274
    Minority interest net income $0
    Net income $2,274
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,234

    The Grant County Bank's gross interest income from loans was $12,009,000.
    The Grant County Bank's net interest income from loans was $10,370,000.
    The Grant County Bank's fee based income from loans was $567,000.
    The Grant County Bank's net income from loans was $2,274,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,639
    Provision for credit losses $585
    Total noninterest expense $8,209
    Salaries and employee benefits $4,840
    Premises and equipment expense $983
    Additional noninterest expense $2,386
    Applicable income taxes $556
    Net charge-offs $252
    Cash dividends $1,679

    The Grant County Bank's interest expense for loans was $1,639,000.
    The Grant County Bank's payroll and benefits expense were $4,840,000.
    The Grant County Bank's property, plant and equipment expenses $983,000.

    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 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 3.0%
    HELOC loans 2.0%
    All other family 3.0%
    Commercial & industrial loans 1.0%
    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 $248,232
    Deposits held in domestic offices $248,232
    Deposits by Individuals, partnerships, and corporations $224,557
    Deposits by U.S. Government $65
    Deposits by States and political subdivisions in the U.S. $18,054
    Deposits by Commercial banks and other depository institutions in U.S. $5,556
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $104,679
    Demand deposits $74,421
    Nontransaction accounts $143,553
    Money market deposit accounts (MMDAs) $16,012
    Other savings deposits (excluding MMDAs) $46,238
    Total time deposits $81,303
    Total time and savings deposits $173,811
    Noninterest-bearing deposits $74,421
    Interest-bearing deposits $173,811
    Retail deposits $230,957
    IRAs and Keogh plan accounts $17,467
    Brokered deposits $5,084
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $293,038
    Cash & Balances due from depository institutions $16,637
    Interest-bearing balances $12,566
    Total securities $34,929
    Federal funds sold & reverse repurchase $16,206
    Net loans and leases $205,671
    Loan and leases loss allowance $2,428
    Trading account assets $0
    Bank premises and fixed assets $7,835
    Other real estate owned $874
    Goodwill and other intangibles $1,565
    All other assets $9,321

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $293,038
    Total Liabilities $257,896
    Total deposits $248,232
    Interest-bearing deposits $173,811
    Deposits held in domestic offices $248,232
    % insured (estimated) $88
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,346
    Subordinated debt $0
    All other liabilities $6,318

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $205,671
    Loan and leases loss allowance $2,428
    Total loans and leases (domestic) $208,099
    All real estate loans $173,026
    Real estate loans in domestic offices $173,026
    Construction and development loans $14,821
    Residential 1-4 family construction $4,750
    Other construction, all land development and other land $10,071
    Loans secured by nonfarm nonresidential properties $69,676
    Nonfarm nonresidential secured by owner-occupied properties $50,949
    Commercial real estate & other non-farm, non-residential $18,727
    Multifamily residential real estate $5,438
    1-4 family residential loans $74,195
    Farmland loans $8,896
    Loans held in foreign offices $0
    Farm loans $534
    Commercial and industrial loans $26,060
    To non-U.S. addressees $0
    Loans to individuals $6,870
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,405
    Other loans to individuals $4,465
    All other loans & leases $1,609
    Loans to foreign governments and official institutions $0
    Other loans $40
    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 $942
    Non 1-4 family restructured loans & leases $850
    Total loans and leases (foreign) $0

    The Grant County Bank had $205,671,000 of loans outstanding in 2020. $173,026,000 of loans were in real estate loans. $14,821,000 of loans were in development loans. $5,438,000 of loans were in multifamily mortgage loans. $74,195,000 of loans were in 1-4 family mortgage loans. $534,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,405,000 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 291 $36,227 $124,491
    Nonfarm, nonresidential loans - <$100k 137 $4,271 $31,175
    Nonfarm, nonresidential loans - $100-250k 70 $8,212 $117,314
    Nonfarm, nonresidential loans - $250k-1MM 84 $23,744 $282,667
    Commercial & Industrial, US addressed loans - <$1MM 411 $14,259 $34,693
    Commercial & Industrial, US addressed loans - <$100k 351 $6,133 $17,473
    Commercial & Industrial, US addressed loans - $100-250k 43 $4,393 $102,163
    Commercial & Industrial, US addressed loans - $250k-1MM 17 $3,733 $219,588
    Farmland loans - <$1MM 54 $6,690 $123,889
    Farmland loans - <$100k 25 $626 $25,040
    Farmland loans - $100-250k 14 $2,057 $146,929
    Farmland loans - $250k-1MM 15 $4,007 $267,133
    Agriculture operations loans - <$1MM 31 $534 $17,226
    Agriculture operations loans - <$100k 30 $353 $11,767
    Agriculture operations loans - $100-250k 1 $181 $181,000