Mainstreet Bank Mortgage Rates, Fees & Info

Alexandria, VA

LEI: 254900SOAE0WU8JM0177

Tax ID: 47-0914596

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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 markets by origination volume include: Washington, Blacksburg, and Baltimore among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Mainstreet 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

    106

    Origination Dollar Volume (All Markets)

    $215,820,000

    Employee count

    126

    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) 104 $204,000,000 $1,961,538 $0 0.00%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $11,005,000 $11,005,000 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $815,000 $815,000 $0 0.00%
    Mainstreet Bank's top markets include Washington, Blacksburg, and Baltimore among others.

    Their top states include:
  • District of Columbia (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 106 $215,820,000 $2,036,038 $0 0.00%

    For 2020, Mainstreet Bank's most frequently originated type of loan was Conventional, with 106 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 84 $135,660,000 $1,615,000 $0 0.00%
    Refi 20 $74,290,000 $3,714,500 $0 0.00%
    Home Improvement 2 $5,870,000 $2,935,000 $0 0.00%

    For 2020, Mainstreet Bank's most frequently cited loan purpose was Home Purchase, with 84 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 106 $215,820,000 $2,036,038 $0 0.00%

    For 2020, Mainstreet Bank's most frequently cited loan duration was Other, with 106 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $1MM+ 67 $191,805,000 $2,862,761 $0 0.00%
    $600k-1MM 23 $18,275,000 $794,565 $0 0.00%
    $200k-400k 10 $3,050,000 $305,000 $0 0.00%
    $400k-600k 5 $2,545,000 $509,000 $0 0.00%
    $100k-200k 1 $145,000 $145,000 $0 0.00%

    2020 saw Mainstreet Bank place emphasis on $1MM+ loans with 67 originations, totaling $191,805,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 2 $2,380,000 $1,190,000 $0 0.00%

    Mainstreet Bank lent most frequently to those with incomes in the $250k+ range, with 2 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 106 $215,820,000 $2,036,038 $0 0.00%

    Mainstreet Bank lent most frequently to those with DTI ratios of Exempt%, with 106 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 102 $191,700,000 $1,879,412 $0 0.00%
    Black 2 $19,030,000 $9,515,000 $0 0.00%
    Not provided 1 $3,525,000 $3,525,000 $0 0.00%
    Asian Indian 1 $1,565,000 $1,565,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    84.52%

    Mainstreet Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    66.04%

    Mainstreet Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 106 $215,820,000 $2,036,038

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 34 $135,780,000 $3,993,529
    Single Family (1-4 Units):Site-Built 72 $80,040,000 $1,111,667

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Mainstreet Bank 1000 N. Highland Street Arlington, VA 22201 Full Service B&M $34,739
    Mainstreet Bank 10089 Fairfax Blvd Fairfax, VA 22030 Full Service B&M $733,980
    Mainstreet Bank 1130 Connecticut Ave Nw Ste 110 Washington, DC 20036 Full Service B&M $1,583
    Mainstreet Bank 1354 Old Chain Bridge Rd Mclean, VA 22101 Full Service B&M $182,289
    Mainstreet Bank 307 E Market St Leesburg, VA 20176 Full Service B&M $37,508
    Mainstreet Bank 4029 Chain Bridge Road Fairfax, VA 22030 Full Service B&M $219,566
    Mainstreet Bank 727 Elden Street Herndon, VA 20170 Full Service B&M $135,334

    For 2020, Mainstreet Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $62,177
    Net interest income $47,048
    Total noninterest income $7,389
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,256
    Trading account gains and fees $0
    Additional Noninterest Income $6,133
    Pre-tax net operating income $20,530
    Securities gains (or losses, -) $0
    Income before extraordinary items $16,483
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $16,483
    Minority interest net income $0
    Net income $16,483
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $16,483

    Mainstreet Bank's gross interest income from loans was $62,177,000.
    Mainstreet Bank's net interest income from loans was $47,048,000.
    Mainstreet Bank's fee based income from loans was $1,256,000.
    Mainstreet Bank's net income from loans was $16,483,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $15,129
    Provision for credit losses $3,610
    Total noninterest expense $30,297
    Salaries and employee benefits $17,979
    Premises and equipment expense $3,398
    Additional noninterest expense $8,920
    Applicable income taxes $4,047
    Net charge-offs $317
    Cash dividends $635

    Mainstreet Bank's interest expense for loans was $15,129,000.
    Mainstreet Bank's payroll and benefits expense were $17,979,000.
    Mainstreet Bank's property, plant and equipment expenses $3,398,000.

    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 $1,442,000
    Deposits held in domestic offices $1,442,000
    Deposits by Individuals, partnerships, and corporations $1,194,783
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $35,191
    Deposits by Commercial banks and other depository institutions in U.S. $212,027
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $499,012
    Demand deposits $446,111
    Nontransaction accounts $942,989
    Money market deposit accounts (MMDAs) $425,293
    Other savings deposits (excluding MMDAs) $21,199
    Total time deposits $496,496
    Total time and savings deposits $995,890
    Noninterest-bearing deposits $375,537
    Interest-bearing deposits $1,066,463
    Retail deposits $949,535
    IRAs and Keogh plan accounts $4,361
    Brokered deposits $279,944
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,643,410
    Cash & Balances due from depository institutions $75,934
    Interest-bearing balances $43,360
    Total securities $167,428
    Federal funds sold & reverse repurchase $31,593
    Net loans and leases $1,287,386
    Loan and leases loss allowance $12,877
    Trading account assets $0
    Bank premises and fixed assets $20,432
    Other real estate owned $1,180
    Goodwill and other intangibles $0
    All other assets $59,457

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,643,410
    Total Liabilities $1,465,776
    Total deposits $1,442,000
    Interest-bearing deposits $1,066,463
    Deposits held in domestic offices $1,442,000
    % insured (estimated) $53
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $23,776

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,287,386
    Loan and leases loss allowance $12,877
    Total loans and leases (domestic) $1,300,263
    All real estate loans $1,029,672
    Real estate loans in domestic offices $1,029,672
    Construction and development loans $324,906
    Residential 1-4 family construction $88,540
    Other construction, all land development and other land $236,366
    Loans secured by nonfarm nonresidential properties $521,235
    Nonfarm nonresidential secured by owner-occupied properties $141,813
    Commercial real estate & other non-farm, non-residential $379,422
    Multifamily residential real estate $43,332
    1-4 family residential loans $139,338
    Farmland loans $861
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $232,043
    To non-U.S. addressees $0
    Loans to individuals $44,727
    Credit card loans $0
    Related Plans $573
    Consumer Auto Loans $43,809
    Other loans to individuals $345
    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 $1,287,386,000 of loans outstanding in 2020. $1,029,672,000 of loans were in real estate loans. $324,906,000 of loans were in development loans. $43,332,000 of loans were in multifamily mortgage loans. $139,338,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $43,809,000 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 147 $63,124 $429,415
    Nonfarm, nonresidential loans - <$100k 2 $25 $12,500
    Nonfarm, nonresidential loans - $100-250k 29 $4,727 $163,000
    Nonfarm, nonresidential loans - $250k-1MM 116 $58,372 $503,207
    Commercial & Industrial, US addressed loans - <$1MM 966 $85,683 $88,699
    Commercial & Industrial, US addressed loans - <$100k 693 $22,740 $32,814
    Commercial & Industrial, US addressed loans - $100-250k 155 $20,307 $131,013
    Commercial & Industrial, US addressed loans - $250k-1MM 118 $42,636 $361,322
    Farmland loans - <$1MM 2 $175 $87,500
    Farmland loans - <$100k 1 $79 $79,000
    Farmland loans - $100-250k 1 $96 $96,000