Mainstreet Bank Mortgage Rates, Fees & Info

Alexandria, VA

LEI: 254900SOAE0WU8JM0177

Tax ID: 47-0914596

2021 Data | 2020 Data | 2019 Data | 2018 Data


Jump to:

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

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Overview

    Mainstreet Bank is a smaller bank specializing in Home Purchase and Refi loans. Mainstreet Bank has a high proportion of conventional loans. Their top markets include Washington, Richmond, Hagerstown, Baltimore, and Philadelphia among others. Mainstreet Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


    Originations

    122

    Origination Dollar Volume (All Markets)

    $237,680,000

    Employee count

    138

    Top Markets

    Market Originations Total Value Average Loan Average Fees Average Rate
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 116 $233,340,000 $2,011,552 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $1,575,000 $1,575,000 $0 0.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $1,355,000 $1,355,000 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $985,000 $985,000 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 1 $275,000 $275,000 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $150,000 $75,000 $0 0.00%

    Mainstreet Bank's top markets include Washington, Richmond, Hagerstown, Baltimore, and Philadelphia among others.

    Product Mix

    Loan Type Originations Total Value Average Loan Average Fees Average Rate
    Conventional 122 $237,680,000 $1,948,197 $0 0.00%

    For the 2021 period, Mainstreet Bank's most frequently originated loan type of loans were Conventional, with 122 originations.

    Loan Reason

    Loan Reason Originations Total Value Average Loan Average Fees Average Rate
    Home Purchase 93 $183,465,000 $1,972,742 $0 0.00%
    Refi 23 $49,205,000 $2,139,348 $0 0.00%
    Home Improvement 6 $5,010,000 $835,000 $0 0.00%

    For the 2021, Mainstreet Bank's most frequently cited loan purpose of loans were Home Purchase, with 93 originations. The 2nd most popular reason of loans were Refi, with 23 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 122 $237,680,000 $1,948,197 $0 0.00%

    For the 2021, Mainstreet Bank's most frequently cited loan length of loans were Other, with 122 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 84 $214,320,000 $2,551,429 $0 0.00%
    $600k-1MM 19 $16,625,000 $875,000 $0 0.00%
    $400k-600k 9 $4,615,000 $512,778 $0 0.00%
    $100k-200k 4 $620,000 $155,000 $0 0.00%
    $200k-400k 4 $1,350,000 $337,500 $0 0.00%
    $100,000 or less 2 $150,000 $75,000 $0 0.00%

    2021 saw Mainstreet Bank place emphasis on $1MM+ loans with 84 originations, totaling $214,320,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 3 $4,175,000 $1,391,667 $0 0.00%
    $100k-150k 1 $365,000 $365,000 $0 0.00%

    Mainstreet Bank lent most frequently to those with incomes in the $250k+ range, with 3 originations. The second most popular income band? $100k-150k, with 1 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 122 $237,680,000 $1,948,197 $0 0.00%

    Mainstreet Bank lent most frequently to those with DTI ratios of Exempt%, with 122 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 115 $230,705,000 $2,006,130 $0 0.00%
    Not provided 3 $4,035,000 $1,345,000 $0 0.00%
    White 2 $1,550,000 $775,000 $0 0.00%
    Black 1 $1,235,000 $1,235,000 $0 0.00%
    Asian 1 $155,000 $155,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    91.74%

    Mainstreet Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    80.87%

    Mainstreet Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 122 $237,680,000 $1,948,197

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    122 $237,680,000 $1,948,197

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Mainstreet Bank 1000 N. Highland Street Arlington, VA 22201 Full Service B&M $52,797
    Mainstreet Bank 10089 Fairfax Blvd Fairfax, VA 22030 Full Service B&M $371,764
    Mainstreet Bank 1130 Connecticut Ave Nw Ste 110 Washington, DC 20036 Full Service B&M $400,128
    Mainstreet Bank 1354 Old Chain Bridge Rd Mclean, VA 22101 Full Service B&M $191,571
    Mainstreet Bank 307 E Market St Leesburg, VA 20176 Full Service B&M $51,820
    Mainstreet Bank 4029 Chain Bridge Road Fairfax, VA 22030 Full Service B&M $241,822
    Mainstreet Bank 727 Elden Street Herndon, VA 20170 Full Service B&M $173,090

    For 2021, Mainstreet Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $64,366
    Net interest income $55,588
    Total noninterest income $5,937
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,587
    Trading account gains and fees $0
    Additional Noninterest Income $4,350
    Pre-tax net operating income $29,835
    Securities gains (or losses, -) $6
    Income before extraordinary items $23,661
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $23,661
    Minority interest net income $0
    Net income $23,661
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $23,656

    Mainstreet Bank's gross interest income from loans was $64,366,000.
    Mainstreet Bank's net interest income from loans was $55,588,000.
    Mainstreet Bank's fee based income from loans was $1,587,000.
    Mainstreet Bank's net income from loans was $23,661,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,778
    Provision for credit losses $-1,175
    Total noninterest expense $32,865
    Salaries and employee benefits $19,344
    Premises and equipment expense $4,009
    Additional noninterest expense $9,512
    Applicable income taxes $6,180
    Net charge-offs $5
    Cash dividends $2,156

    Mainstreet Bank's interest expense for loans was $8,778,000.
    Mainstreet Bank's payroll and benefits expense were $19,344,000.
    Mainstreet Bank's property, plant and equipment expenses $4,009,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    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 $1,412,340
    Deposits held in domestic offices $1,412,340
    Deposits by Individuals, partnerships, and corporations $1,230,377
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $23,363
    Deposits by Commercial banks and other depository institutions in U.S. $158,600
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $650,050
    Demand deposits $597,973
    Nontransaction accounts $762,290
    Money market deposit accounts (MMDAs) $270,045
    Other savings deposits (excluding MMDAs) $33,098
    Total time deposits $459,147
    Total time and savings deposits $814,367
    Noninterest-bearing deposits $528,692
    Interest-bearing deposits $883,648
    Retail deposits $1,097,582
    IRAs and Keogh plan accounts $5,175
    Brokered deposits $245,468
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,647,008
    Cash & Balances due from depository institutions $93,199
    Interest-bearing balances $73,540
    Total securities $117,261
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,341,760
    Loan and leases loss allowance $11,697
    Trading account assets $0
    Bank premises and fixed assets $21,976
    Other real estate owned $775
    Goodwill and other intangibles $0
    All other assets $72,037

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,647,008
    Total Liabilities $1,431,149
    Total deposits $1,412,340
    Interest-bearing deposits $883,648
    Deposits held in domestic offices $1,412,340
    % insured (estimated) $45
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $18,809

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,341,760
    Loan and leases loss allowance $11,697
    Total loans and leases (domestic) $1,353,457
    All real estate loans $1,172,167
    Real estate loans in domestic offices $1,172,167
    Construction and development loans $337,173
    Residential 1-4 family construction $111,219
    Other construction, all land development and other land $225,954
    Loans secured by nonfarm nonresidential properties $534,604
    Nonfarm nonresidential secured by owner-occupied properties $173,086
    Commercial real estate & other non-farm, non-residential $361,518
    Multifamily residential real estate $137,705
    1-4 family residential loans $161,362
    Farmland loans $1,323
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $163,597
    To non-U.S. addressees $0
    Loans to individuals $23,171
    Credit card loans $0
    Related Plans $1,657
    Consumer Auto Loans $21,338
    Other loans to individuals $176
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    MainStreet Bank had $1,341,760,000 of loans outstanding in 2021. $1,172,167,000 of loans were in real estate loans. $337,173,000 of loans were in development loans. $137,705,000 of loans were in multifamily mortgage loans. $161,362,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $21,338,000 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 142 $64,889 $456,965
    Nonfarm, nonresidential loans - $100-250k 22 $3,657 $166,227
    Nonfarm, nonresidential loans - $250k-1MM 120 $61,232 $510,267
    Commercial & Industrial, US addressed loans - <$1MM 444 $51,666 $116,365
    Commercial & Industrial, US addressed loans - <$100k 275 $9,250 $33,636
    Commercial & Industrial, US addressed loans - $100-250k 94 $14,521 $154,479
    Commercial & Industrial, US addressed loans - $250k-1MM 75 $27,895 $371,933
    Farmland loans - <$1MM 3 $653 $217,667
    Farmland loans - <$100k 1 $75 $75,000
    Farmland loans - $100-250k 1 $90 $90,000
    Farmland loans - $250k-1MM 1 $488 $488,000