Putnam County Bank Mortgage Rates, Fees & Info

Hurricane, WV

LEI: 254900SRX8H2BWRMDQ91

Tax ID: 55-0662270

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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

    Putnam County Bank is a smaller bank specializing in Home Purchase and Refi loans. Putnam County Bank has a high proportion of conventional loans. Their top markets by origination volume include: Huntington, Charleston, Point Pleasant, Myrtle Beach, and Lakeland among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Putnam 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

    131

    Origination Dollar Volume (All Markets)

    $24,145,000

    Employee count

    70

    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
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 94 $17,900,000 $190,426 $2,574 4.68%
    CHARLESTON, WV (FHA|USDA|VA) 25 $3,455,000 $138,200 $2,087 4.83%
    Point Pleasant, WV-OH (FHA|USDA|VA) 7 $1,735,000 $247,857 $2,494 4.50%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $455,000 $455,000 $4,743 4.50%
    LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) 1 $185,000 $185,000 $0 5.50%
    Outside of Metro Areas 1 $185,000 $185,000 $2,844 4.50%
    BECKLEY, WV (FHA|USDA|VA) 1 $125,000 $125,000 $2,571 4.50%
    MORGANTOWN, WV (FHA|USDA|VA) 1 $105,000 $105,000 $2,369 4.50%
    Putnam County Bank's top markets include Huntington, Charleston, Point Pleasant, Myrtle Beach, and Lakeland among others.

    Their top states include:
  • West Virginia (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 131 $24,145,000 $184,313 $2,509 4.70%

    For 2018, Putnam County Bank's most frequently originated type of loan was Conventional, with 131 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 71 $13,795,000 $194,296 $2,830 4.71%
    Refi 33 $6,235,000 $188,939 $2,014 4.64%
    Cash Out Refi 26 $4,090,000 $157,308 $2,278 4.72%
    Home Improvement 1 $25,000 $25,000 $0 5.95%

    For 2018, Putnam County Bank's most frequently cited loan purpose was Home Purchase, with 71 originations. The 2nd most popular reason was Refi, with 33 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 69 $10,725,000 $155,435 $2,292 4.51%
    Other 49 $11,995,000 $244,796 $2,860 4.69%
    5 Year 13 $1,425,000 $109,615 $0 5.74%

    For 2018, Putnam County Bank's most frequently cited loan duration was 10 Year, with 69 originations. The 2nd most popular length was Other, with 49 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 68 $8,690,000 $127,794
    $1k-2k 29 $7,925,000 $273,276
    $2k-3k 9 $4,005,000 $445,000

    Putnam County Bank's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 68 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 110 $21,940,000 $199,455
    5-6% 20 $2,090,000 $104,500
    6-7% 1 $115,000 $115,000

    During 2018, Putnam County Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 110 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 47 $6,935,000 $147,553 $2,243 4.74%
    $100,000 or less 39 $2,325,000 $59,615 $1,598 4.87%
    $200k-400k 33 $9,115,000 $276,212 $3,039 4.52%
    $400k-600k 11 $5,005,000 $455,000 $4,241 4.50%
    $600k-1MM 1 $765,000 $765,000 $2,122 4.50%

    2018 saw Putnam County Bank place emphasis on $100k-200k loans with 47 originations, totaling $6,935,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 28 $6,720,000 $240,000 $3,052 4.66%
    $50k or less 26 $2,580,000 $99,231 $1,906 4.56%
    $50k-75k 25 $3,195,000 $127,800 $1,998 4.50%
    $75k-100k 17 $2,885,000 $169,706 $2,526 4.62%
    $150k-250k 14 $4,460,000 $318,571 $2,810 4.60%
    $250k+ 6 $1,900,000 $316,667 $4,094 4.74%

    Putnam County Bank lent most frequently to those with incomes in the $100k-150k range, with 28 originations. The second most popular income band? $50k or less, with 26 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 34 $6,480,000 $190,588 $2,516 4.57%
    30-36% 33 $7,325,000 $221,970 $2,604 4.54%
    <20% 24 $3,520,000 $146,667 $2,240 4.62%
    37% 7 $965,000 $137,857 $2,276 4.50%
    38% 4 $980,000 $245,000 $3,123 4.50%
    39% 4 $560,000 $140,000 $2,301 4.50%
    50-60% 3 $665,000 $221,667 $4,151 5.32%
    36% 3 $395,000 $131,667 $1,928 4.50%
    41% 2 $490,000 $245,000 $3,095 4.50%
    42% 1 $585,000 $585,000 $3,119 4.50%
    45% 1 $165,000 $165,000 $1,910 4.50%

    Putnam County Bank lent most frequently to those with DTI ratios of 20-30%, with 34 originations. The next most common DTI ratio? 30-36%, with 33 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 119 $22,735,000 $191,050 $2,509 4.60%
    Not applicable 12 $1,410,000 $117,500 $0 5.69%

    Approval Rates

    Total approvals of all applications
    83.59%

    Putnam County Bank has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    75.57%

    Putnam County Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 131 $24,145,000 $184,313

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $575,000 $191,667
    Single Family (1-4 Units):Manufactured 11 $1,105,000 $100,455
    Single Family (1-4 Units):Site-Built 117 $22,465,000 $192,009

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 3 $115,000 $38,333 $2,020 4.98%
    40-60% 15 $1,545,000 $103,000 $1,837 4.83%
    60-80% 34 $4,430,000 $130,294 $2,096 4.88%
    80-100% 76 $17,940,000 $236,053 $2,803 4.57%
    Over 100% 1 $75,000 $75,000 $1,534 4.50%
    Under 20% 2 $40,000 $20,000 $922 5.23%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    Podium Mortgage Capital LLC Other type of mortgage Trouble during payment process 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Putnam County Bank 2761 Main Street Hurricane, WV 25526 Full Service B&M $259,084
    Putnam County Bank 300 Hurricane Creek Road Hurricane, WV 25526 Full Service B&M $155,450
    Putnam County Bank 3058 Mount Vernon Road Hurricane, WV 25526 Full Service B&M $103,634

    For 2018, Putnam County Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,616
    Net interest income $17,940
    Total noninterest income $-202
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $31
    Trading account gains and fees $0
    Additional Noninterest Income $-233
    Pre-tax net operating income $1,661
    Securities gains (or losses, -) $-338
    Income before extraordinary items $1,026
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,026
    Minority interest net income $0
    Net income $1,026
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,293

    Putnam County Bank's gross interest income from loans was $22,616,000.
    Putnam County Bank's net interest income from loans was $17,940,000.
    Putnam County Bank's fee based income from loans was $31,000.
    Putnam County Bank's net income from loans was $1,026,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,676
    Provision for credit losses $5,807
    Total noninterest expense $10,270
    Salaries and employee benefits $6,000
    Premises and equipment expense $471
    Additional noninterest expense $3,799
    Applicable income taxes $297
    Net charge-offs $6,353
    Cash dividends $1,740

    Putnam County Bank's interest expense for loans was $4,676,000.
    Putnam County Bank's payroll and benefits expense were $6,000,000.
    Putnam County Bank's property, plant and equipment expenses $471,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 4.0%
    Real Estate loans 4.0%
    Construction & Land Development loans 7.0%
    Nonfarm, nonresidential loans 7.0%
    Multifamily residential loans 12.0%
    1-4 family residential loans 3.0%
    HELOC loans 1.0%
    All other family 3.0%
    Commercial & industrial loans 1.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 1.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $496,008
    Deposits held in domestic offices $496,008
    Deposits by Individuals, partnerships, and corporations $456,911
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $39,096
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $180,869
    Demand deposits $63,014
    Nontransaction accounts $315,138
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $32,377
    Total time deposits $282,761
    Total time and savings deposits $432,993
    Noninterest-bearing deposits $63,014
    Interest-bearing deposits $432,994
    Retail deposits $416,717
    IRAs and Keogh plan accounts $49,944
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $588,244
    Cash & Balances due from depository institutions $15,822
    Interest-bearing balances $11,815
    Total securities $166,992
    Federal funds sold & reverse repurchase $56,318
    Net loans and leases $342,749
    Loan and leases loss allowance $5,266
    Trading account assets $0
    Bank premises and fixed assets $608
    Other real estate owned $978
    Goodwill and other intangibles $0
    All other assets $4,777

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $588,244
    Total Liabilities $501,025
    Total deposits $496,008
    Interest-bearing deposits $432,994
    Deposits held in domestic offices $496,008
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $5,017

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $342,749
    Loan and leases loss allowance $5,266
    Total loans and leases (domestic) $348,015
    All real estate loans $319,415
    Real estate loans in domestic offices $319,415
    Construction and development loans $22,622
    Residential 1-4 family construction $7,635
    Other construction, all land development and other land $14,987
    Loans secured by nonfarm nonresidential properties $76,316
    Nonfarm nonresidential secured by owner-occupied properties $41,153
    Commercial real estate & other non-farm, non-residential $35,163
    Multifamily residential real estate $6,562
    1-4 family residential loans $213,915
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $23,174
    To non-U.S. addressees $0
    Loans to individuals $5,279
    Credit card loans $0
    Related Plans $2
    Consumer Auto Loans $2,447
    Other loans to individuals $2,830
    All other loans & leases $147
    Loans to foreign governments and official institutions $0
    Other loans $100
    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 $4,062
    Non 1-4 family restructured loans & leases $3,347
    Total loans and leases (foreign) $0

    Putnam County Bank had $342,749,000 of loans outstanding in 2018. $319,415,000 of loans were in real estate loans. $22,622,000 of loans were in development loans. $6,562,000 of loans were in multifamily mortgage loans. $213,915,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $2,447,000 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 127 $30,032 $236,472
    Nonfarm, nonresidential loans - <$100k 17 $629 $37,000
    Nonfarm, nonresidential loans - $100-250k 52 $6,405 $123,173
    Nonfarm, nonresidential loans - $250k-1MM 58 $22,998 $396,517
    Commercial & Industrial, US addressed loans - <$1MM 83 $6,775 $81,627
    Commercial & Industrial, US addressed loans - <$100k 55 $1,283 $23,327
    Commercial & Industrial, US addressed loans - $100-250k 14 $1,588 $113,429
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $3,904 $278,857