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 loans. Putnam County Bank has a high proportion of conventional loans. Their top markets by origination volume include: Huntington, Charleston, Point Pleasant, Pittsburgh, and Nashville among others. We have data for 9 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

    163

    Origination Dollar Volume (All Markets)

    $30,275,000

    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) 115 $23,175,000 $201,522 $2,860 5.09%
    CHARLESTON, WV (FHA|USDA|VA) 36 $4,310,000 $119,722 $2,576 5.38%
    Point Pleasant, WV-OH (FHA|USDA|VA) 5 $1,305,000 $261,000 $3,010 4.75%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $335,000 $335,000 $4,851 4.75%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 1 $325,000 $325,000 $2,732 4.75%
    Outside of Metro Areas 2 $320,000 $160,000 $0 5.63%
    Clarksburg, WV (FHA|USDA|VA) 1 $245,000 $245,000 $3,205 4.50%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $135,000 $135,000 $2,551 5.50%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $125,000 $125,000 $0 5.50%
    Putnam County Bank's top markets include Huntington, Charleston, Point Pleasant, Pittsburgh, and Nashville among others.

    Their top states include:
  • West Virginia (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 163 $30,275,000 $185,736 $2,839 5.15%

    For 2019, Putnam County Bank's most frequently originated type of loan was Conventional, with 163 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 96 $18,130,000 $188,854 $3,012 5.24%
    Cash Out Refi 47 $6,025,000 $128,191 $2,089 5.02%
    Refi 19 $5,915,000 $311,316 $3,824 4.93%
    Other 1 $205,000 $205,000 $0 6.50%

    For 2019, Putnam County Bank's most frequently cited loan purpose was Home Purchase, with 96 originations. The 2nd most popular reason was Cash Out Refi, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 72 $15,180,000 $210,833 $2,699 4.64%
    5 Year 42 $3,730,000 $88,810 $1,613 5.88%
    Other 41 $10,755,000 $262,317 $3,459 5.16%
    15 Year 6 $230,000 $38,333 $1,411 5.62%
    1 Year 2 $380,000 $190,000 $0 6.38%

    For 2019, Putnam County Bank's most frequently cited loan duration was 10 Year, with 72 originations. The 2nd most popular length was 5 Year, with 42 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 61 $7,255,000 $118,934
    $1k-2k 40 $9,950,000 $248,750
    $2k-3k 12 $4,920,000 $410,000
    $3k-4k 1 $685,000 $685,000
    $4k-5k 1 $855,000 $855,000
    $5k+ 1 $1,655,000 $1,655,000

    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 61 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 89 $18,035,000 $202,640
    5-6% 65 $10,805,000 $166,231
    6-7% 9 $1,435,000 $159,444

    During 2019, 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 89 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 57 $8,235,000 $144,474 $2,349 5.04%
    $100,000 or less 51 $2,655,000 $52,059 $1,400 5.46%
    $200k-400k 45 $12,685,000 $281,889 $3,419 4.97%
    $400k-600k 6 $2,870,000 $478,333 $4,610 4.92%
    $600k-1MM 3 $2,175,000 $725,000 $5,674 4.92%
    $1MM+ 1 $1,655,000 $1,655,000 $16,122 5.25%

    2019 saw Putnam County Bank place emphasis on $100k-200k loans with 57 originations, totaling $8,235,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 34 $4,410,000 $129,706 $2,279 5.00%
    $75k-100k 29 $5,165,000 $178,103 $2,677 4.87%
    $100k-150k 25 $5,755,000 $230,200 $2,854 4.93%
    $50k or less 20 $2,210,000 $110,500 $1,756 4.80%
    $150k-250k 14 $4,540,000 $324,286 $4,175 5.01%
    $250k+ 6 $3,940,000 $656,667 $7,422 5.16%

    Putnam County Bank lent most frequently to those with incomes in the $50k-75k range, with 34 originations. The second most popular income band? $75k-100k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 36 $8,010,000 $222,500 $3,106 4.76%
    30-36% 21 $5,185,000 $246,905 $2,969 5.13%
    <20% 20 $2,750,000 $137,500 $2,084 4.84%
    37% 10 $1,970,000 $197,000 $2,613 4.83%
    39% 8 $1,780,000 $222,500 $3,128 4.97%
    42% 6 $1,300,000 $216,667 $2,752 5.13%
    50-60% 5 $575,000 $115,000 $2,070 5.23%
    38% 5 $1,165,000 $233,000 $2,880 4.80%
    >60% 4 $440,000 $110,000 $3,687 5.60%
    40% 4 $730,000 $182,500 $2,647 4.80%
    46% 3 $875,000 $291,667 $3,093 4.67%
    36% 3 $695,000 $231,667 $3,440 4.92%
    47% 1 $35,000 $35,000 $0 5.95%
    41% 1 $375,000 $375,000 $4,080 4.50%

    Putnam County Bank lent most frequently to those with DTI ratios of 20-30%, with 36 originations. The next most common DTI ratio? 30-36%, with 21 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 127 $25,935,000 $204,213 $2,829 4.93%
    Not applicable 33 $3,705,000 $112,273 $0 5.99%
    Not provided 2 $460,000 $230,000 $3,520 5.13%
    Asian 1 $175,000 $175,000 $2,658 4.75%

    Approval Rates

    Total approvals of all applications
    87.44%

    Putnam County Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.66%

    Putnam County Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 163 $30,275,000 $185,736

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 3 $615,000 $205,000
    Single Family (1-4 Units):Manufactured 11 $1,045,000 $95,000
    Single Family (1-4 Units):Site-Built 149 $28,615,000 $192,047

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 17 $1,275,000 $75,000 $1,665 5.37%
    40-60% 18 $2,220,000 $123,333 $2,352 5.15%
    60-80% 54 $9,230,000 $170,926 $3,065 5.34%
    80-100% 69 $17,365,000 $251,667 $3,186 4.95%
    Under 20% 5 $185,000 $37,000 $1,444 5.06%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Podium Mortgage Capital LLC Conventional home mortgage Trouble during payment process 3 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Putnam County Bank 2761 Main Street Hurricane, WV 25526 Full Service B&M $247,627
    Putnam County Bank 300 Hurricane Creek Road Hurricane, WV 25526 Full Service B&M $148,576
    Putnam County Bank 3058 Mount Vernon Road Hurricane, WV 25526 Full Service B&M $99,051

    For 2019, Putnam County Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,832
    Net interest income $17,106
    Total noninterest income $-149
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $31
    Trading account gains and fees $0
    Additional Noninterest Income $-180
    Pre-tax net operating income $5,967
    Securities gains (or losses, -) $0
    Income before extraordinary items $4,644
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,644
    Minority interest net income $0
    Net income $4,644
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,644

    Putnam County Bank's gross interest income from loans was $22,832,000.
    Putnam County Bank's net interest income from loans was $17,106,000.
    Putnam County Bank's fee based income from loans was $31,000.
    Putnam County Bank's net income from loans was $4,644,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,726
    Provision for credit losses $788
    Total noninterest expense $10,202
    Salaries and employee benefits $6,171
    Premises and equipment expense $483
    Additional noninterest expense $3,548
    Applicable income taxes $1,323
    Net charge-offs $1,105
    Cash dividends $1,800

    Putnam County Bank's interest expense for loans was $5,726,000.
    Putnam County Bank's payroll and benefits expense were $6,171,000.
    Putnam County Bank's property, plant and equipment expenses $483,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 5.0%
    Multifamily residential loans 7.0%
    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 $493,768
    Deposits held in domestic offices $493,768
    Deposits by Individuals, partnerships, and corporations $455,689
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $38,079
    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 $186,431
    Demand deposits $69,636
    Nontransaction accounts $307,337
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $34,652
    Total time deposits $272,685
    Total time and savings deposits $424,132
    Noninterest-bearing deposits $69,636
    Interest-bearing deposits $424,132
    Retail deposits $414,253
    IRAs and Keogh plan accounts $46,661
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $589,814
    Cash & Balances due from depository institutions $17,375
    Interest-bearing balances $12,257
    Total securities $161,821
    Federal funds sold & reverse repurchase $66,669
    Net loans and leases $339,186
    Loan and leases loss allowance $4,949
    Trading account assets $0
    Bank premises and fixed assets $889
    Other real estate owned $15
    Goodwill and other intangibles $0
    All other assets $3,859

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $589,814
    Total Liabilities $499,596
    Total deposits $493,768
    Interest-bearing deposits $424,132
    Deposits held in domestic offices $493,768
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $5,828

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $339,186
    Loan and leases loss allowance $4,949
    Total loans and leases (domestic) $344,135
    All real estate loans $322,545
    Real estate loans in domestic offices $322,545
    Construction and development loans $15,750
    Residential 1-4 family construction $5,637
    Other construction, all land development and other land $10,113
    Loans secured by nonfarm nonresidential properties $91,984
    Nonfarm nonresidential secured by owner-occupied properties $41,825
    Commercial real estate & other non-farm, non-residential $50,159
    Multifamily residential real estate $5,703
    1-4 family residential loans $209,108
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $16,786
    To non-U.S. addressees $0
    Loans to individuals $4,736
    Credit card loans $0
    Related Plans $2
    Consumer Auto Loans $1,875
    Other loans to individuals $2,859
    All other loans & leases $68
    Loans to foreign governments and official institutions $0
    Other loans $24
    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 $7,780
    Non 1-4 family restructured loans & leases $6,593
    Total loans and leases (foreign) $0

    Putnam County Bank had $339,186,000 of loans outstanding in 2019. $322,545,000 of loans were in real estate loans. $15,750,000 of loans were in development loans. $5,703,000 of loans were in multifamily mortgage loans. $209,108,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,875,000 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 123 $30,181 $245,374
    Nonfarm, nonresidential loans - <$100k 16 $656 $41,000
    Nonfarm, nonresidential loans - $100-250k 47 $5,815 $123,723
    Nonfarm, nonresidential loans - $250k-1MM 60 $23,710 $395,167
    Commercial & Industrial, US addressed loans - <$1MM 78 $6,256 $80,205
    Commercial & Industrial, US addressed loans - <$100k 51 $1,387 $27,196
    Commercial & Industrial, US addressed loans - $100-250k 14 $1,776 $126,857
    Commercial & Industrial, US addressed loans - $250k-1MM 13 $3,093 $237,923