Bank Of Romney Mortgage Rates, Fees & Info

Romney, WV

LEI: 254900IV7U7HAN6U7T54

Tax ID: 55-0267603

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Bank Of Romney is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Romney has a high proportion of conventional loans. Their top markets by origination volume include: Winchester, Hagerstown, and Cumberland among others. We have data for 4 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Romney 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.

    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

    160

    Origination Dollar Volume (All Markets)

    $15,890,000

    Employee count

    74

    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
    WINCHESTER, VA-WV (FHA|USDA|VA) 107 $9,335,000 $87,243 $0 0.00%
    Outside of Metro Areas 45 $5,565,000 $123,667 $0 0.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 7 $935,000 $133,571 $0 0.00%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $55,000 $55,000 $0 0.00%
    Bank Of Romney's top markets include Winchester, Hagerstown, and Cumberland among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 160 $15,890,000 $99,313 $0 0.00%

    For 2019, Bank Of Romney's most frequently originated type of loan was Conventional, with 160 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 85 $9,445,000 $111,118 $0 0.00%
    Refi 39 $4,695,000 $120,385 $0 0.00%
    Other 24 $1,280,000 $53,333 $0 0.00%
    Home Improvement 12 $470,000 $39,167 $0 0.00%

    For 2019, Bank Of Romney's most frequently cited loan purpose was Home Purchase, with 85 originations. The 2nd most popular reason was Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 160 $15,890,000 $99,313 $0 0.00%

    For 2019, Bank Of Romney's most frequently cited loan duration was Other, with 160 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 106 $5,170,000 $48,774 $0 0.00%
    $100k-200k 35 $4,635,000 $132,429 $0 0.00%
    $200k-400k 15 $3,955,000 $263,667 $0 0.00%
    $400k-600k 3 $1,325,000 $441,667 $0 0.00%
    $600k-1MM 1 $805,000 $805,000 $0 0.00%

    2019 saw Bank Of Romney place emphasis on $100,000 or less loans with 106 originations, totaling $5,170,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 65 $3,965,000 $61,000 $0 0.00%
    $50k-75k 35 $3,125,000 $89,286 $0 0.00%
    $100k-150k 16 $1,930,000 $120,625 $0 0.00%
    $75k-100k 15 $1,525,000 $101,667 $0 0.00%
    $150k-250k 7 $805,000 $115,000 $0 0.00%
    $250k+ 5 $1,805,000 $361,000 $0 0.00%

    Bank Of Romney lent most frequently to those with incomes in the $50k or less range, with 65 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% 160 $15,890,000 $99,313 $0 0.00%

    Bank Of Romney lent most frequently to those with DTI ratios of Exempt%, with 160 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 148 $13,270,000 $89,662 $0 0.00%
    Not applicable 11 $1,815,000 $165,000 $0 0.00%
    Asian 1 $805,000 $805,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.44%

    Bank Of Romney has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.75%

    Bank Of Romney has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 160 $15,890,000 $99,313

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $305,000 $305,000
    Single Family (1-4 Units):Manufactured 51 $3,435,000 $67,353
    Single Family (1-4 Units):Site-Built 108 $12,150,000 $112,500

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 1 7.1%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 2 14.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 42.9%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 7.1%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Bank of Romney 100 County Route 3 Slanesville, WV 25444 Full Service B&M $659
    The Bank of Romney 63 Winchester Street Paw Paw, WV 25434 Full Service B&M $8,006
    The Bank of Romney 95 East Main Street Romney, WV 26757 Full Service B&M $129,208
    The Bank of Romney Route 28 Springfield, WV 26763 Full Service B&M $5,315
    The Bank of Romney Route 50 Augusta, WV 26704 Full Service B&M $29,108
    The Bank of Romney Route 50 And Stayman Drive Romney, WV 26757 Full Service B&M $10,004
    The Bank of Romney Us 50, Main Street Capon Bridge, WV 26711 Full Service B&M $22,954

    For 2019, Bank Of Romney had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $13,469
    Net interest income $10,395
    Total noninterest income $1,676
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,195
    Trading account gains and fees $0
    Additional Noninterest Income $481
    Pre-tax net operating income $3,884
    Securities gains (or losses, -) $1
    Income before extraordinary items $3,153
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,153
    Minority interest net income $0
    Net income $3,153
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,152

    Bank Of Romney's gross interest income from loans was $13,469,000.
    Bank Of Romney's net interest income from loans was $10,395,000.
    Bank Of Romney's fee based income from loans was $1,195,000.
    Bank Of Romney's net income from loans was $3,153,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,074
    Provision for credit losses $198
    Total noninterest expense $7,989
    Salaries and employee benefits $4,256
    Premises and equipment expense $1,059
    Additional noninterest expense $2,674
    Applicable income taxes $732
    Net charge-offs $65
    Cash dividends $600

    Bank Of Romney's interest expense for loans was $3,074,000.
    Bank Of Romney's payroll and benefits expense were $4,256,000.
    Bank Of Romney's property, plant and equipment expenses $1,059,000.

    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 5.0%
    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 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 $207,378
    Deposits held in domestic offices $207,378
    Deposits by Individuals, partnerships, and corporations $193,357
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $14,016
    Deposits by Commercial banks and other depository institutions in U.S. $5
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $75,345
    Demand deposits $47,137
    Nontransaction accounts $132,033
    Money market deposit accounts (MMDAs) $5,344
    Other savings deposits (excluding MMDAs) $36,802
    Total time deposits $89,887
    Total time and savings deposits $160,241
    Noninterest-bearing deposits $47,137
    Interest-bearing deposits $160,241
    Retail deposits $179,011
    IRAs and Keogh plan accounts $25,003
    Brokered deposits $17,186
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $293,960
    Cash & Balances due from depository institutions $10,057
    Interest-bearing balances $7,109
    Total securities $45,870
    Federal funds sold & reverse repurchase $0
    Net loans and leases $218,480
    Loan and leases loss allowance $1,829
    Trading account assets $0
    Bank premises and fixed assets $4,508
    Other real estate owned $213
    Goodwill and other intangibles $0
    All other assets $14,832

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $293,960
    Total Liabilities $260,952
    Total deposits $207,378
    Interest-bearing deposits $160,241
    Deposits held in domestic offices $207,378
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $51,573
    Subordinated debt $0
    All other liabilities $2,001

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $218,480
    Loan and leases loss allowance $1,829
    Total loans and leases (domestic) $220,309
    All real estate loans $191,767
    Real estate loans in domestic offices $191,767
    Construction and development loans $20,358
    Residential 1-4 family construction $11,745
    Other construction, all land development and other land $8,613
    Loans secured by nonfarm nonresidential properties $22,831
    Nonfarm nonresidential secured by owner-occupied properties $11,470
    Commercial real estate & other non-farm, non-residential $11,361
    Multifamily residential real estate $4,471
    1-4 family residential loans $139,993
    Farmland loans $4,114
    Loans held in foreign offices $0
    Farm loans $811
    Commercial and industrial loans $6,447
    To non-U.S. addressees $0
    Loans to individuals $19,783
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $11,825
    Other loans to individuals $7,958
    All other loans & leases $1,501
    Loans to foreign governments and official institutions $0
    Other loans $414
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $2,335
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,378
    Non 1-4 family restructured loans & leases $479
    Total loans and leases (foreign) $0

    Bank of Romney had $218,480,000 of loans outstanding in 2019. $191,767,000 of loans were in real estate loans. $20,358,000 of loans were in development loans. $4,471,000 of loans were in multifamily mortgage loans. $139,993,000 of loans were in 1-4 family mortgage loans. $811,000 of loans were in farm loans. $0 of loans were in credit card loans. $11,825,000 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 185 $16,489 $89,130
    Nonfarm, nonresidential loans - <$100k 109 $3,527 $32,358
    Nonfarm, nonresidential loans - $100-250k 43 $5,001 $116,302
    Nonfarm, nonresidential loans - $250k-1MM 33 $7,961 $241,242
    Commercial & Industrial, US addressed loans - <$1MM 145 $6,447 $44,462
    Commercial & Industrial, US addressed loans - <$100k 121 $2,849 $23,545
    Commercial & Industrial, US addressed loans - $100-250k 17 $1,293 $76,059
    Commercial & Industrial, US addressed loans - $250k-1MM 7 $2,305 $329,286
    Farmland loans - <$1MM 15 $1,830 $122,000
    Farmland loans - <$100k 7 $302 $43,143
    Farmland loans - $100-250k 3 $223 $74,333
    Farmland loans - $250k-1MM 5 $1,305 $261,000
    Agriculture operations loans - <$1MM 3 $143 $47,667
    Agriculture operations loans - <$100k 2 $13 $6,500
    Agriculture operations loans - $100-250k 1 $130 $130,000