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
  • 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 Cash Out Refi loans. Putnam County Bank has a high proportion of conventional loans. Their top markets by origination volume include: Huntington, Charleston, Glenwood Springs, Point Pleasant, and Oklahoma City 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 an 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)

    $33,165,000

    Employee count

    68

    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) 127 $26,865,000 $211,535 $2,885 4.10%
    CHARLESTON, WV (FHA|USDA|VA) 26 $4,270,000 $164,231 $2,728 4.51%
    Glenwood Springs, CO (FHA|USDA|VA) 1 $705,000 $705,000 $0 4.88%
    Point Pleasant, WV-OH (FHA|USDA|VA) 3 $565,000 $188,333 $2,382 3.25%
    OKLAHOMA CITY, OK (FHA|USDA|VA) 1 $265,000 $265,000 $3,655 3.25%
    Clarksburg, WV (FHA|USDA|VA) 1 $165,000 $165,000 $2,682 3.25%
    WHEELING, WV-OH (FHA|USDA|VA) 1 $165,000 $165,000 $0 4.75%
    MORGANTOWN, WV (FHA|USDA|VA) 1 $105,000 $105,000 $2,250 3.25%
    Outside of Metro Areas 2 $60,000 $30,000 $1,800 3.81%
    Putnam County Bank's top markets include Huntington, Charleston, Glenwood Springs, Point Pleasant, and Oklahoma City among others.

    Their top states include:
  • West Virginia (FHA|USDA|VA)
  • Colorado (FHA|USDA|VA)
  • Oklahoma (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 163 $33,165,000 $203,466 $2,840 4.14%

    For 2020, 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 86 $17,860,000 $207,674 $3,315 4.38%
    Cash Out Refi 57 $11,775,000 $206,579 $2,461 3.89%
    Refi 16 $2,860,000 $178,750 $2,047 3.70%
    Other 3 $615,000 $205,000 $2,995 4.04%
    Home Improvement 1 $55,000 $55,000 $1,402 4.50%

    For 2020, Putnam County Bank's most frequently cited loan purpose was Home Purchase, with 86 originations. The 2nd most popular reason was Cash Out Refi, with 57 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 94 $17,760,000 $188,936 $2,440 3.69%
    Other 44 $12,020,000 $273,182 $3,821 4.43%
    5 Year 25 $3,385,000 $135,400 $1,137 5.30%

    For 2020, Putnam County Bank's most frequently cited loan duration was 10 Year, with 94 originations. The 2nd most popular length was Other, with 44 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 61 $6,715,000 $110,082
    $1k-2k 54 $13,040,000 $241,481
    $2k-3k 15 $5,665,000 $377,667
    $4k-5k 2 $1,670,000 $835,000
    $3k-4k 1 $635,000 $635,000
    $5k+ 1 $1,175,000 $1,175,000

    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
    3-4% 91 $18,585,000 $204,231
    4-5% 48 $11,800,000 $245,833
    5-6% 23 $2,605,000 $113,261
    6-7% 1 $175,000 $175,000

    During 2020, Putnam County Bank's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 3-4%, with 91 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 54 $14,960,000 $277,037 $3,344 3.91%
    $100k-200k 48 $7,150,000 $148,958 $2,341 3.93%
    $100,000 or less 47 $2,905,000 $61,809 $1,573 4.52%
    $400k-600k 9 $3,965,000 $440,556 $4,562 4.56%
    $600k-1MM 4 $3,010,000 $752,500 $6,717 4.41%
    $1MM+ 1 $1,175,000 $1,175,000 $10,337 3.75%

    2020 saw Putnam County Bank place emphasis on $200k-400k loans with 54 originations, totaling $14,960,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 38 $6,200,000 $163,158 $2,460 3.83%
    $100k-150k 33 $8,185,000 $248,030 $3,306 3.96%
    $50k or less 24 $2,300,000 $95,833 $1,826 4.00%
    $75k-100k 17 $3,445,000 $202,647 $3,051 4.12%
    $150k-250k 14 $5,030,000 $359,286 $3,916 3.84%
    $250k+ 6 $2,990,000 $498,333 $4,704 4.06%

    Putnam County Bank lent most frequently to those with incomes in the $50k-75k range, with 38 originations. The second most popular income band? $100k-150k, with 33 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 39 $7,495,000 $192,179 $2,590 3.89%
    30-36% 31 $7,725,000 $249,194 $3,135 3.80%
    <20% 29 $4,995,000 $172,241 $2,461 3.90%
    38% 8 $1,390,000 $173,750 $2,637 3.89%
    39% 6 $1,560,000 $260,000 $3,303 4.04%
    36% 6 $1,340,000 $223,333 $3,272 4.08%
    37% 4 $860,000 $215,000 $2,893 3.97%
    41% 4 $2,340,000 $585,000 $6,160 4.28%
    40% 2 $470,000 $235,000 $3,446 4.13%
    42% 2 $360,000 $180,000 $2,510 3.88%
    43% 2 $270,000 $135,000 $1,776 3.56%
    44% 1 $25,000 $25,000 $1,137 3.25%
    45% 1 $95,000 $95,000 $0 5.50%
    50-60% 1 $55,000 $55,000 $0 5.25%
    >60% 1 $55,000 $55,000 $0 5.50%

    Putnam County Bank lent most frequently to those with DTI ratios of 20-30%, with 39 originations. The next most common DTI ratio? 30-36%, with 31 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 123 $26,685,000 $216,951 $2,870 3.95%
    Not applicable 23 $3,395,000 $147,609 $0 5.41%
    Not provided 16 $3,020,000 $188,750 $2,728 3.80%
    American Indian 1 $65,000 $65,000 $1,015 3.25%

    Approval Rates

    Total approvals of all applications
    85.17%

    Putnam County Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.80%

    Putnam County Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 163 $33,165,000 $203,466

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $1,465,000 $293,000
    Single Family (1-4 Units):Manufactured 11 $1,385,000 $125,909
    Single Family (1-4 Units):Site-Built 147 $30,315,000 $206,224

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 9 $475,000 $52,778 $1,582 4.22%
    40-60% 19 $1,845,000 $97,105 $1,826 4.18%
    60-80% 46 $7,350,000 $159,783 $2,532 4.29%
    80-100% 85 $23,355,000 $274,765 $3,337 4.05%
    Under 20% 4 $140,000 $35,000 $1,759 3.97%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Putnam County Bank 101 Hurricane Creek Road Hurricane, WV 25526 Full Service B&M $157,089
    Putnam County Bank 2761 Main Street Hurricane, WV 25526 Full Service B&M $261,815
    Putnam County Bank 3058 Mount Vernon Road Hurricane, WV 25526 Full Service B&M $104,726

    For 2020, Putnam County Bank had 3 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $19,488
    Net interest income $14,348
    Total noninterest income $458
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $22
    Trading account gains and fees $0
    Additional Noninterest Income $436
    Pre-tax net operating income $4,394
    Securities gains (or losses, -) $-1
    Income before extraordinary items $3,344
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,344
    Minority interest net income $0
    Net income $3,344
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,344

    Putnam County Bank's gross interest income from loans was $19,488,000.
    Putnam County Bank's net interest income from loans was $14,348,000.
    Putnam County Bank's fee based income from loans was $22,000.
    Putnam County Bank's net income from loans was $3,344,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,140
    Provision for credit losses $254
    Total noninterest expense $10,158
    Salaries and employee benefits $6,157
    Premises and equipment expense $580
    Additional noninterest expense $3,421
    Applicable income taxes $1,049
    Net charge-offs $-2,058
    Cash dividends $3,323

    Putnam County Bank's interest expense for loans was $5,140,000.
    Putnam County Bank's payroll and benefits expense were $6,157,000.
    Putnam County Bank's property, plant and equipment expenses $580,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    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 3.0%
    Credit card loans 0.0%
    Other individual loans 3.0%
    Auto loans 7.0%
    Other consumer loans 1.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $539,020
    Deposits held in domestic offices $539,020
    Deposits by Individuals, partnerships, and corporations $487,964
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $51,056
    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 $229,570
    Demand deposits $89,830
    Nontransaction accounts $309,450
    Money market deposit accounts (MMDAs) $0
    Other savings deposits (excluding MMDAs) $41,653
    Total time deposits $267,795
    Total time and savings deposits $449,190
    Noninterest-bearing deposits $89,830
    Interest-bearing deposits $449,190
    Retail deposits $454,461
    IRAs and Keogh plan accounts $46,018
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $636,170
    Cash & Balances due from depository institutions $29,308
    Interest-bearing balances $16,490
    Total securities $168,810
    Federal funds sold & reverse repurchase $114,000
    Net loans and leases $315,863
    Loan and leases loss allowance $7,261
    Trading account assets $0
    Bank premises and fixed assets $3,723
    Other real estate owned $229
    Goodwill and other intangibles $0
    All other assets $4,237

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $636,170
    Total Liabilities $544,335
    Total deposits $539,020
    Interest-bearing deposits $449,190
    Deposits held in domestic offices $539,020
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $5,315

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $315,863
    Loan and leases loss allowance $7,261
    Total loans and leases (domestic) $323,124
    All real estate loans $299,791
    Real estate loans in domestic offices $299,791
    Construction and development loans $14,456
    Residential 1-4 family construction $5,895
    Other construction, all land development and other land $8,561
    Loans secured by nonfarm nonresidential properties $90,305
    Nonfarm nonresidential secured by owner-occupied properties $36,460
    Commercial real estate & other non-farm, non-residential $53,845
    Multifamily residential real estate $5,190
    1-4 family residential loans $189,840
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $19,032
    To non-U.S. addressees $0
    Loans to individuals $3,956
    Credit card loans $0
    Related Plans $1
    Consumer Auto Loans $1,190
    Other loans to individuals $2,765
    All other loans & leases $345
    Loans to foreign governments and official institutions $0
    Other loans $6
    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 $7,732
    Non 1-4 family restructured loans & leases $6,044
    Total loans and leases (foreign) $0

    Putnam County Bank had $315,863,000 of loans outstanding in 2020. $299,791,000 of loans were in real estate loans. $14,456,000 of loans were in development loans. $5,190,000 of loans were in multifamily mortgage loans. $189,840,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $1,190,000 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 115 $26,154 $227,426
    Nonfarm, nonresidential loans - <$100k 16 $778 $48,625
    Nonfarm, nonresidential loans - $100-250k 46 $5,657 $122,978
    Nonfarm, nonresidential loans - $250k-1MM 53 $19,719 $372,057
    Commercial & Industrial, US addressed loans - <$1MM 67 $5,555 $82,910
    Commercial & Industrial, US addressed loans - <$100k 42 $920 $21,905
    Commercial & Industrial, US addressed loans - $100-250k 15 $1,914 $127,600
    Commercial & Industrial, US addressed loans - $250k-1MM 10 $2,721 $272,100