The Grant County Bank Mortgage Rates, Fees & Info

PETERSBURG, WV

LEI: 254900FAEHPIBKT6SS85

Tax ID: 55-0181210

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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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: Morgantown, Fairmont, Cumberland, Elkins, and Hagerstown among others. We have data for 8 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

    108

    Origination Dollar Volume (All Markets)

    $16,460,000

    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 57 $5,765,000 $101,140 $0 0.00%
    MORGANTOWN, WV (FHA|USDA|VA) 20 $4,570,000 $228,500 $0 0.00%
    Fairmont, WV (FHA|USDA|VA) 2 $2,300,000 $1,150,000 $0 0.00%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 18 $2,240,000 $124,444 $0 0.00%
    Elkins, WV (FHA|USDA|VA) 7 $925,000 $132,143 $0 0.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 2 $340,000 $170,000 $0 0.00%
    Clarksburg, WV (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    Point Pleasant, WV-OH (FHA|USDA|VA) 1 $75,000 $75,000 $0 0.00%
    The Grant County Bank's top markets include Morgantown, Fairmont, Cumberland, Elkins, and Hagerstown among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 108 $16,460,000 $152,407 $0 0.00%

    For 2021, The Grant County Bank's most frequently originated type of loan was Conventional, with 108 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 47 $6,375,000 $135,638 $0 0.00%
    Refi 25 $4,795,000 $191,800 $0 0.00%
    Cash Out Refi 25 $4,565,000 $182,600 $0 0.00%
    Other 10 $690,000 $69,000 $0 0.00%
    Home Improvement 1 $35,000 $35,000 $0 0.00%

    For 2021, The Grant County Bank's most frequently cited loan purpose was Home Purchase, with 47 originations. The 2nd most popular reason was Refi, with 25 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 108 $16,460,000 $152,407 $0 0.00%

    For 2021, The Grant County Bank's most frequently cited loan duration was Other, with 108 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 53 $2,945,000 $55,566 $0 0.00%
    $100k-200k 33 $4,665,000 $141,364 $0 0.00%
    $200k-400k 18 $4,980,000 $276,667 $0 0.00%
    $1MM+ 2 $2,300,000 $1,150,000 $0 0.00%
    $600k-1MM 2 $1,570,000 $785,000 $0 0.00%

    2021 saw The Grant County Bank place emphasis on $100,000 or less loans with 53 originations, totaling $2,945,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 34 $2,360,000 $69,412 $0 0.00%
    $100k-150k 15 $2,405,000 $160,333 $0 0.00%
    $75k-100k 12 $1,480,000 $123,333 $0 0.00%
    $50k-75k 9 $965,000 $107,222 $0 0.00%
    $150k-250k 5 $545,000 $109,000 $0 0.00%
    $250k+ 4 $640,000 $160,000 $0 0.00%

    The Grant County Bank lent most frequently to those with incomes in the $50k or less range, with 34 originations. The second most popular income band? $100k-150k, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 108 $16,460,000 $152,407 $0 0.00%

    The Grant County Bank lent most frequently to those with DTI ratios of Exempt%, with 108 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 80 $8,440,000 $105,500 $0 0.00%
    Not applicable 27 $7,915,000 $293,148 $0 0.00%
    Asian 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.81%

    The Grant County Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.93%

    The Grant County Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 108 $16,460,000 $152,407

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    108 $16,460,000 $152,407

    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 $136,091
    The Grant County Bank 48 Main Street Harman, WV 26270 Full Service B&M $18,814
    The Grant County Bank 500 South Main Street Moorefield, WV 26836 Full Service B&M $13,582
    The Grant County Bank Route 220 Keyser, WV 26726 Full Service B&M $39,502
    The Grant County Bank Route 32, Canaan Valley Davis, WV 26260 Full Service B&M $24,469
    The Grant County Bank U.S. Highway 33 Riverton, WV 26814 Full Service B&M $18,002
    The Grant County Bank William Avenue Davis, WV 26260 Full Service B&M $23,968

    For 2021, The Grant County Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $12,586
    Net interest income $11,368
    Total noninterest income $1,709
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $591
    Trading account gains and fees $0
    Additional Noninterest Income $1,118
    Pre-tax net operating income $4,004
    Securities gains (or losses, -) $-36
    Income before extraordinary items $3,074
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,074
    Minority interest net income $0
    Net income $3,074
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,102

    The Grant County Bank's gross interest income from loans was $12,586,000.
    The Grant County Bank's net interest income from loans was $11,368,000.
    The Grant County Bank's fee based income from loans was $591,000.
    The Grant County Bank's net income from loans was $3,074,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,218
    Provision for credit losses $14
    Total noninterest expense $9,059
    Salaries and employee benefits $5,395
    Premises and equipment expense $951
    Additional noninterest expense $2,713
    Applicable income taxes $894
    Net charge-offs $-89
    Cash dividends $1,709

    The Grant County Bank's interest expense for loans was $1,218,000.
    The Grant County Bank's payroll and benefits expense were $5,395,000.
    The Grant County Bank's property, plant and equipment expenses $951,000.

    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 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    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 $274,627
    Deposits held in domestic offices $274,627
    Deposits by Individuals, partnerships, and corporations $250,011
    Deposits by U.S. Government $65
    Deposits by States and political subdivisions in the U.S. $20,562
    Deposits by Commercial banks and other depository institutions in U.S. $3,989
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $127,365
    Demand deposits $87,881
    Nontransaction accounts $147,262
    Money market deposit accounts (MMDAs) $17,845
    Other savings deposits (excluding MMDAs) $57,457
    Total time deposits $71,960
    Total time and savings deposits $186,746
    Noninterest-bearing deposits $87,881
    Interest-bearing deposits $186,746
    Retail deposits $261,347
    IRAs and Keogh plan accounts $16,345
    Brokered deposits $2,535
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $319,158
    Cash & Balances due from depository institutions $14,403
    Interest-bearing balances $11,102
    Total securities $64,575
    Federal funds sold & reverse repurchase $16,928
    Net loans and leases $203,850
    Loan and leases loss allowance $2,531
    Trading account assets $0
    Bank premises and fixed assets $7,386
    Other real estate owned $0
    Goodwill and other intangibles $1,582
    All other assets $10,434

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $319,158
    Total Liabilities $281,880
    Total deposits $274,627
    Interest-bearing deposits $186,746
    Deposits held in domestic offices $274,627
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $2,174
    Subordinated debt $0
    All other liabilities $5,079

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $203,850
    Loan and leases loss allowance $2,531
    Total loans and leases (domestic) $206,381
    All real estate loans $175,106
    Real estate loans in domestic offices $175,106
    Construction and development loans $19,100
    Residential 1-4 family construction $7,059
    Other construction, all land development and other land $12,041
    Loans secured by nonfarm nonresidential properties $69,210
    Nonfarm nonresidential secured by owner-occupied properties $53,538
    Commercial real estate & other non-farm, non-residential $15,672
    Multifamily residential real estate $6,139
    1-4 family residential loans $72,318
    Farmland loans $8,339
    Loans held in foreign offices $0
    Farm loans $161
    Commercial and industrial loans $22,944
    To non-U.S. addressees $0
    Loans to individuals $7,100
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,515
    Other loans to individuals $4,585
    All other loans & leases $1,070
    Loans to foreign governments and official institutions $0
    Other loans $45
    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 $1,041
    Non 1-4 family restructured loans & leases $1,037
    Total loans and leases (foreign) $0

    The Grant County Bank had $203,850,000 of loans outstanding in 2021. $175,106,000 of loans were in real estate loans. $19,100,000 of loans were in development loans. $6,139,000 of loans were in multifamily mortgage loans. $72,318,000 of loans were in 1-4 family mortgage loans. $161,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,515,000 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 288 $36,003 $125,010
    Nonfarm, nonresidential loans - <$100k 126 $3,600 $28,571
    Nonfarm, nonresidential loans - $100-250k 77 $8,229 $106,870
    Nonfarm, nonresidential loans - $250k-1MM 85 $24,174 $284,400
    Commercial & Industrial, US addressed loans - <$1MM 315 $11,812 $37,498
    Commercial & Industrial, US addressed loans - <$100k 254 $3,970 $15,630
    Commercial & Industrial, US addressed loans - $100-250k 43 $3,906 $90,837
    Commercial & Industrial, US addressed loans - $250k-1MM 18 $3,936 $218,667
    Farmland loans - <$1MM 47 $5,918 $125,915
    Farmland loans - <$100k 22 $556 $25,273
    Farmland loans - $100-250k 11 $1,606 $146,000
    Farmland loans - $250k-1MM 14 $3,756 $268,286
    Agriculture operations loans - <$1MM 21 $161 $7,667
    Agriculture operations loans - <$100k 21 $161 $7,667