Mainstreet Bank Mortgage Rates, Fees & Info

Alexandria, VA

LEI: 254900SOAE0WU8JM0177

Tax ID: 47-0914596

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

    Mainstreet Bank is a smaller bank specializing in Home Purchase and Refi loans. Mainstreet Bank has a high proportion of conventional loans. Their top two markets are Washington and Portland .

    Mainstreet Bank has an above 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

    180

    Origination Dollar Volume (All Markets)

    $128,910,000

    Employee count

    110

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 179 $128,105,000 $715,670 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $805,000 $805,000 $0 0.00%
    Mainstreet Bank's top markets include Washington and Portland among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • District of Columbia (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Maine (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 180 $128,910,000 $716,167 $0 0.00%

    For 2018, Mainstreet Bank's most frequently originated type of loan was Conventional, with 180 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 144 $86,820,000 $602,917 $0 0.00%
    Refi 25 $34,925,000 $1,397,000 $0 0.00%
    Home Improvement 10 $6,740,000 $674,000 $0 0.00%
    Other 1 $425,000 $425,000 $0 0.00%

    For 2018, Mainstreet Bank's most frequently cited loan purpose was Home Purchase, with 144 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 180 $128,910,000 $716,167 $0 0.00%

    For 2018, Mainstreet Bank's most frequently cited loan duration was Other, with 180 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 44 $13,280,000 $301,818 $0 0.00%
    $1MM+ 39 $67,205,000 $1,723,205 $0 0.00%
    $600k-1MM 37 $28,155,000 $760,946 $0 0.00%
    $400k-600k 32 $15,810,000 $494,063 $0 0.00%
    $100k-200k 27 $4,365,000 $161,667 $0 0.00%
    $100,000 or less 1 $95,000 $95,000 $0 0.00%

    2018 saw Mainstreet Bank place emphasis on $200k-400k loans with 44 originations, totaling $13,280,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 10 $4,100,000 $410,000 $0 0.00%
    $150k-250k 8 $5,040,000 $630,000 $0 0.00%
    $100k-150k 5 $1,005,000 $201,000 $0 0.00%
    $75k-100k 2 $1,250,000 $625,000 $0 0.00%
    $50k-75k 1 $315,000 $315,000 $0 0.00%

    Mainstreet Bank lent most frequently to those with incomes in the $250k+ range, with 10 originations. The second most popular income band? $150k-250k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 180 $128,910,000 $716,167 $0 0.00%

    Mainstreet Bank lent most frequently to those with DTI ratios of Exempt%, with 180 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 154 $117,200,000 $761,039 $0 0.00%
    Asian 12 $4,790,000 $399,167 $0 0.00%
    White 11 $4,715,000 $428,636 $0 0.00%
    Black 3 $2,205,000 $735,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    97.18%

    Mainstreet Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    87.22%

    Mainstreet Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 180 $128,910,000 $716,167

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 15 $30,145,000 $2,009,667
    Single Family (1-4 Units):Site-Built 165 $98,765,000 $598,576

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    MainStreet Bank 1000 N. Highland Street Arlington, VA 22201 Full Service B&M $29,396
    MainStreet Bank 10089 Fairfax Blvd Fairfax, VA 22030 Full Service B&M $395,932
    MainStreet Bank 307 E Market St Leesburg, VA 20176 Full Service B&M $7,768
    MainStreet Bank 4029 Chain Bridge Road Fairfax, VA 22030 Full Service B&M $154,964
    MainStreet Bank 6832 Old Dominion Drive, Suite 105 Mc Lean, VA 22101 Full Service B&M $82,941
    MainStreet Bank 727 Elden Street Herndon, VA 20170 Full Service B&M $132,222

    For 2018, Mainstreet Bank had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $43,905
    Net interest income $32,205
    Total noninterest income $3,169
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $638
    Trading account gains and fees $0
    Additional Noninterest Income $2,531
    Pre-tax net operating income $12,270
    Securities gains (or losses, -) $0
    Income before extraordinary items $9,974
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $9,974
    Minority interest net income $0
    Net income $9,974
    Sale, conversion, retirement of capital stock, net $45,800
    Net operating income $9,974

    Mainstreet Bank's gross interest income from loans was $43,905,000.
    Mainstreet Bank's net interest income from loans was $32,205,000.
    Mainstreet Bank's fee based income from loans was $638,000.
    Mainstreet Bank's net income from loans was $9,974,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $11,700
    Provision for credit losses $3,126
    Total noninterest expense $19,978
    Salaries and employee benefits $11,883
    Premises and equipment expense $2,595
    Additional noninterest expense $5,500
    Applicable income taxes $2,296
    Net charge-offs $0
    Cash dividends $0

    Mainstreet Bank's interest expense for loans was $11,700,000.
    Mainstreet Bank's payroll and benefits expense were $11,883,000.
    Mainstreet Bank's property, plant and equipment expenses $2,595,000.

    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 0.8%
    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 $921,754
    Deposits held in domestic offices $921,754
    Deposits by Individuals, partnerships, and corporations $714,161
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $87,517
    Deposits by Commercial banks and other depository institutions in U.S. $120,076
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $311,478
    Demand deposits $274,155
    Nontransaction accounts $610,276
    Money market deposit accounts (MMDAs) $138,152
    Other savings deposits (excluding MMDAs) $14,048
    Total time deposits $458,076
    Total time and savings deposits $647,599
    Noninterest-bearing deposits $213,493
    Interest-bearing deposits $708,261
    Retail deposits $669,658
    IRAs and Keogh plan accounts $3,459
    Brokered deposits $140,771
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,100,083
    Cash & Balances due from depository institutions $27,886
    Interest-bearing balances $14,245
    Total securities $80,657
    Federal funds sold & reverse repurchase $30,190
    Net loans and leases $917,125
    Loan and leases loss allowance $8,831
    Trading account assets $0
    Bank premises and fixed assets $14,108
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $30,117

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,100,083
    Total Liabilities $966,921
    Total deposits $921,754
    Interest-bearing deposits $708,261
    Deposits held in domestic offices $921,754
    % insured (estimated) $67
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $40,000
    Subordinated debt $0
    All other liabilities $5,167

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $917,125
    Loan and leases loss allowance $8,831
    Total loans and leases (domestic) $925,956
    All real estate loans $710,938
    Real estate loans in domestic offices $710,938
    Construction and development loans $183,551
    Residential 1-4 family construction $49,369
    Other construction, all land development and other land $134,182
    Loans secured by nonfarm nonresidential properties $377,760
    Nonfarm nonresidential secured by owner-occupied properties $121,621
    Commercial real estate & other non-farm, non-residential $256,139
    Multifamily residential real estate $9,182
    1-4 family residential loans $139,619
    Farmland loans $826
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $114,221
    To non-U.S. addressees $0
    Loans to individuals $102,278
    Credit card loans $1,402
    Related Plans $675
    Consumer Auto Loans $99,910
    Other loans to individuals $291
    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 $917,125,000 of loans outstanding in 2018. $710,938,000 of loans were in real estate loans. $183,551,000 of loans were in development loans. $9,182,000 of loans were in multifamily mortgage loans. $139,619,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $1,402,000 of loans were in credit card loans. $99,910,000 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 130 $57,369 $441,300
    Nonfarm, nonresidential loans - <$100k 2 $99 $49,500
    Nonfarm, nonresidential loans - $100-250k 25 $3,650 $146,000
    Nonfarm, nonresidential loans - $250k-1MM 103 $53,620 $520,583
    Commercial & Industrial, US addressed loans - <$1MM 139 $27,961 $201,158
    Commercial & Industrial, US addressed loans - <$100k 45 $1,565 $34,778
    Commercial & Industrial, US addressed loans - $100-250k 38 $4,638 $122,053
    Commercial & Industrial, US addressed loans - $250k-1MM 56 $21,758 $388,536
    Farmland loans - <$1MM 1 $105 $105,000
    Farmland loans - $100-250k 1 $105 $105,000