Uwharrie Bank Mortgage Rates, Fees & Info

Albemarle, NC

LEI: 5493001LHLYJE6PHUL18

Tax ID: 56-1366219

5 stars - out of 5 stars, based on 36 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Uwharrie Bank is a smaller bank specializing in Home Purchase and Refi loans. Uwharrie Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Charlotte, Albemarle, Myrtle Beach, Hickory, and Winston among others. Uwharrie Bank has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Uwharrie Bank is typically a low fee lendor.


Originations

1,320

Origination Dollar Volume (All Markets)

$361,440,000

Employee count

174 Show all (15) awards

Relative Rate

Uwharrie Bank's average 30 year fixed rate mortgage of loans were 3.13%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.02%.

Relative Fees

Uwharrie Bank's average total fees for a 30 year fixed rate mortgage are $2,726.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 797 $238,285,000 $298,977 $2,545 3.02%
Albemarle, NC (FHA|USDA|VA) 292 $60,320,000 $206,575 $2,451 3.18%
Outside of Metro Areas 45 $10,595,000 $235,444 $2,745 3.02%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 27 $8,695,000 $322,037 $2,628 3.19%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 17 $5,295,000 $311,471 $2,921 2.92%
WINSTON-SALEM, NC (FHA|USDA|VA) 18 $4,720,000 $262,222 $2,602 2.90%
ASHEVILLE, NC (FHA|USDA|VA) 13 $3,065,000 $235,769 $2,477 2.99%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 5 $2,535,000 $507,000 $3,881 2.68%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 8 $2,260,000 $282,500 $2,471 2.89%
Boone, NC (FHA|USDA|VA) 6 $2,160,000 $360,000 $2,050 2.77%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 7 $2,035,000 $290,714 $2,907 3.02%
Shelby, NC (FHA|USDA|VA) 8 $1,910,000 $238,750 $3,570 2.89%
RALEIGH-CARY, NC (FHA|USDA|VA) 8 $1,750,000 $218,750 $1,761 3.20%
Pinehurst-Southern Pines, NC (FHA|USDA|VA) 6 $1,280,000 $213,333 $2,090 3.00%
COLUMBIA, SC (FHA|USDA|VA) 6 $1,260,000 $210,000 $4,630 3.44%
North Wilkesboro, NC (FHA|USDA|VA) 5 $1,155,000 $231,000 $3,406 3.83%
FAYETTEVILLE, NC (FHA|USDA|VA) 5 $1,135,000 $227,000 $1,911 3.08%
WILMINGTON, NC (FHA|USDA|VA) 4 $990,000 $247,500 $1,948 3.25%
SAVANNAH, GA (FHA|USDA|VA) 3 $915,000 $305,000 $2,492 3.08%
Rockingham, NC (FHA|USDA|VA) 5 $905,000 $181,000 $2,961 3.93%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $850,000 $425,000 $4,960 2.50%
BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) 1 $725,000 $725,000 $6,308 3.13%
GREENVILLE-ANDERSON, SC (FHA|USDA|VA) 3 $665,000 $221,667 $2,253 2.79%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $545,000 $545,000 $1,360 3.13%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $545,000 $545,000 $3,973 3.00%
CINCINNATI, OH-KY-IN (FHA|USDA|VA) 2 $540,000 $270,000 $2,008 2.81%
LITTLE ROCK-NORTH LITTLE ROCK-CONWAY, AR (FHA|USDA|VA) 2 $530,000 $265,000 $2,142 3.38%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $505,000 $505,000 $3,569 2.25%
FLORENCE, SC (FHA|USDA|VA) 2 $460,000 $230,000 $6,202 3.13%
NEW BERN, NC (FHA|USDA|VA) 2 $440,000 $220,000 $1,970 3.13%
PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $425,000 $425,000 $3,491 2.50%
LEXINGTON-FAYETTE, KY (FHA|USDA|VA) 2 $400,000 $200,000 $1,946 3.19%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $375,000 $375,000 $2,895 3.63%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $365,000 $365,000 $6,093 3.95%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 1 $345,000 $345,000 $2,471 3.25%
KNOXVILLE, TN (FHA|USDA|VA) 1 $345,000 $345,000 $0 4.73%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $335,000 $335,000 $1,315 2.75%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $315,000 $315,000 $3,873 4.63%
Marion, NC (FHA|USDA|VA) 1 $295,000 $295,000 $3,797 3.00%
Cullowhee, NC (FHA|USDA|VA) 1 $295,000 $295,000 $4,014 2.38%
LYNCHBURG, VA (FHA|USDA|VA) 1 $235,000 $235,000 $2,746 3.38%
JONESBORO, AR (FHA|USDA|VA) 1 $135,000 $135,000 $2,429 3.50%
Sebastian-Vero Beach, FL (FHA|USDA|VA) 1 $125,000 $125,000 $1,735 3.25%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 1 $125,000 $125,000 $2,838 2.50%
GREENVILLE, NC (FHA|USDA|VA) 1 $85,000 $85,000 $1,758 3.63%
CHARLESTON, WV (FHA|USDA|VA) 1 $85,000 $85,000 $1,855 3.75%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $85,000 $85,000 $3,892 3.25%

Uwharrie Bank's top markets include Charlotte, Albemarle, Myrtle Beach, Hickory, and Winston among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 1,223 $335,125,000 $274,019 $2,355 3.09%
FHA 54 $12,940,000 $239,630 $6,487 2.93%
VA 30 $10,710,000 $357,000 $3,213 2.63%
USDA 13 $2,665,000 $205,000 $4,131 2.80%

For the 2021 period, Uwharrie Bank's most frequently originated loan type of loans were Conventional, with 1,223 originations. Their 2nd most popular type is FHA, with 54 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 555 $171,935,000 $309,793 $3,054 3.12%
Refi 452 $107,630,000 $238,119 $2,112 2.92%
Cash Out Refi 284 $71,940,000 $253,310 $2,332 3.14%
Other 23 $4,015,000 $174,565 $2,563 3.34%
Home Improvement 6 $5,920,000 $986,667 $1,902 4.12%

For the 2021, Uwharrie Bank's most frequently cited loan purpose of loans were Home Purchase, with 555 originations. The 2nd most popular reason of loans were Refi, with 452 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 946 $273,730,000 $289,355 $2,726 3.13%
15 Year 222 $44,150,000 $198,874 $2,075 2.80%
20 Year 108 $26,350,000 $243,981 $2,241 3.10%
10 Year 31 $5,645,000 $182,097 $1,827 2.63%
Other 10 $11,100,000 $1,110,000 $3,763 3.44%
5 Year 2 $220,000 $110,000 $0 4.33%
1 Year 1 $245,000 $245,000 $5,069 4.35%

For the 2021, Uwharrie Bank's most frequently cited loan length of loans were 30 Year, with 946 originations. The 2nd most popular length of loans were 15 Year, with 222 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 1,145 $302,295,000 $264,013
$1k-2k 85 $23,645,000 $278,176
$2k-3k 37 $11,515,000 $311,216
$3k-4k 23 $7,475,000 $325,000
$5k+ 5 $4,985,000 $997,000

$2,726 of loans were Uwharrie Bank's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 1,145 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 581 $171,295,000 $294,828
3-4% 536 $138,510,000 $258,414
<2.5% 156 $43,880,000 $281,282
4-5% 39 $6,285,000 $161,154
5-6% 6 $1,330,000 $221,667
6-7% 1 $105,000 $105,000
7-8% 1 $35,000 $35,000

During 2021, Uwharrie Bank's average interest rate of loans were 3.13%, while their most frequently originated rate bucket of loans were 2.5-3%, with 581 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 586 $164,210,000 $280,222 $2,724 2.97%
$100k-200k 411 $61,695,000 $150,109 $2,148 3.18%
$400k-600k 183 $88,055,000 $481,175 $2,904 2.97%
$100,000 or less 103 $8,115,000 $78,786 $1,938 3.33%
$600k-1MM 24 $17,530,000 $730,417 $4,214 2.94%
$1MM+ 13 $21,835,000 $1,679,615 $5,988 3.25%

2021 saw Uwharrie Bank place emphasis on $200k-400k loans with 586 originations, totaling $164,210,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 294 $58,530,000 $199,082 $2,526 3.09%
$100k-150k 274 $81,440,000 $297,226 $2,490 3.01%
$75k-100k 218 $53,440,000 $245,138 $2,676 3.03%
$150k-250k 210 $74,730,000 $355,857 $2,501 2.99%
$50k or less 182 $26,800,000 $147,253 $2,364 3.24%
$250k+ 104 $50,560,000 $486,154 $3,119 3.02%

Uwharrie Bank lent most frequently to those with incomes in the $50k-75k range, with 294 originations. The second most popular income band? $100k-150k, with 274 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 333 $86,745,000 $260,495 $2,353 3.03%
30-36% 231 $64,855,000 $280,758 $2,530 3.04%
<20% 139 $33,375,000 $240,108 $2,033 2.91%
44% 54 $14,090,000 $260,926 $2,575 3.03%
41% 53 $13,745,000 $259,340 $2,646 3.13%
38% 51 $12,665,000 $248,333 $2,664 2.97%
40% 47 $11,215,000 $238,617 $3,179 3.11%
42% 46 $13,250,000 $288,043 $2,951 3.11%
39% 46 $13,010,000 $282,826 $2,566 3.14%
43% 43 $12,535,000 $291,512 $2,519 3.17%
37% 40 $10,630,000 $265,750 $2,623 3.07%
49% 37 $10,325,000 $279,054 $2,616 3.11%
36% 34 $8,590,000 $252,647 $2,469 3.21%
45% 30 $8,290,000 $276,333 $2,846 3.09%
48% 28 $7,650,000 $273,214 $2,513 3.05%
47% 24 $6,710,000 $279,583 $2,726 3.00%
46% 21 $6,055,000 $288,333 $3,280 2.99%
50-60% 17 $4,565,000 $268,529 $4,615 3.27%
>60% 2 $1,600,000 $800,000 $4,339 2.56%

Uwharrie Bank lent most frequently to those with DTI ratios of 20-30%, with 333 originations. The next most common DTI ratio? 30-36%, with 231 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 1,030 $275,340,000 $267,320 $2,487 3.05%
Not provided 183 $52,035,000 $284,344 $2,461 3.08%
Black 72 $17,550,000 $243,750 $3,758 3.10%
Not applicable 10 $8,770,000 $877,000 $0 4.20%
Asian 15 $5,155,000 $343,667 $3,248 3.01%
American Indian 6 $1,480,000 $246,667 $3,152 3.17%
Asian Indian 2 $780,000 $390,000 $2,536 3.13%
Other Asian 2 $330,000 $165,000 $2,234 3.38%

Approval Rates

Total approvals of all applications
95.53%

Uwharrie 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
78.77%

Uwharrie Bank has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
NA 1,320 $361,440,000 $273,818

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
1,320 $361,440,000 $273,818

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 105 $18,365,000 $174,905 $2,108 2.91%
40-60% 272 $65,930,000 $242,390 $2,162 2.99%
60-80% 550 $165,750,000 $301,364 $2,400 3.13%
80-100% 379 $108,805,000 $287,084 $3,179 3.07%
Over 100% 7 $1,775,000 $253,571 $5,238 3.00%
Under 20% 5 $485,000 $97,000 $1,819 3.29%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Uwharrie Bank 5231 Piper Station Drive Charlotte, NC 28277 Full Service B&M $29,349
Uwharrie Bank 710 North First Street Albemarle, NC 28001 Full Service B&M $23,967
Uwharrie Bank 800 Highway 24-27 Bypass Albemarle, NC 28001 Full Service B&M $57,252
Uwharrie Bank 107 South Main Street Norwood, NC 28128 Full Service B&M $63,104
Uwharrie Bank 1490 South Main Street Mount Pleasant, NC 28124 Full Service B&M $23,407
Uwharrie Bank 167 North Second Street Albemarle, NC 28001 Full Service B&M $232,918
Uwharrie Bank 211 South Greene Street Wadesboro, NC 28170 Full Service B&M $70,860
Uwharrie Bank 224 N Main St Oakboro, NC 28129 Full Service B&M $40,114
Uwharrie Bank 25 Palaside Drive, N.E. Concord, NC 28025 Full Service B&M $162,533
Uwharrie Bank 416 West Main Street, Po Box 715 Locust, NC 28097 Full Service B&M $58,433

For 2021, Uwharrie Bank had 10 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $27,769
Net interest income $27,024
Total noninterest income $17,424
Gross Fiduciary activities income $0
Service charges on deposit accounts $920
Trading account gains and fees $0
Additional Noninterest Income $16,504
Pre-tax net operating income $12,744
Securities gains (or losses, -) $991
Income before extraordinary items $10,784
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $10,784
Minority interest net income $0
Net income $10,784
Sale, conversion, retirement of capital stock, net $0
Net operating income $10,001

Uwharrie Bank's gross interest income from loans was $27,769,000.
Uwharrie Bank's net interest income from loans was $27,024,000.
Uwharrie Bank's fee based income from loans was $920,000.
Uwharrie Bank's net income from loans was $10,784,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $745
Provision for credit losses $-918
Total noninterest expense $32,622
Salaries and employee benefits $19,817
Premises and equipment expense $2,458
Additional noninterest expense $10,347
Applicable income taxes $2,951
Net charge-offs $-542
Cash dividends $565

Uwharrie Bank's interest expense for loans was $745,000.
Uwharrie Bank's payroll and benefits expense were $19,817,000.
Uwharrie Bank's property, plant and equipment expenses $2,458,000.

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 $841,663
Deposits held in domestic offices $841,663
Deposits by Individuals, partnerships, and corporations $735,571
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $106,092
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 $269,685
Demand deposits $52,770
Nontransaction accounts $571,978
Money market deposit accounts (MMDAs) $209,022
Other savings deposits (excluding MMDAs) $290,829
Total time deposits $72,128
Total time and savings deposits $788,893
Noninterest-bearing deposits $52,770
Interest-bearing deposits $788,893
Retail deposits $816,904
IRAs and Keogh plan accounts $19,526
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $937,793
Cash & Balances due from depository institutions $94,410
Interest-bearing balances $89,112
Total securities $361,138
Federal funds sold & reverse repurchase $0
Net loans and leases $438,436
Loan and leases loss allowance $4,026
Trading account assets $0
Bank premises and fixed assets $15,726
Other real estate owned $0
Goodwill and other intangibles $5,078
All other assets $23,005

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $937,793
Total Liabilities $852,282
Total deposits $841,663
Interest-bearing deposits $788,893
Deposits held in domestic offices $841,663
% insured (estimated) $69
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $10,619

Issued Loan Types

Type Value (in 000's)
Net loans and leases $438,436
Loan and leases loss allowance $4,026
Total loans and leases (domestic) $442,462
All real estate loans $347,035
Real estate loans in domestic offices $347,035
Construction and development loans $36,699
Residential 1-4 family construction $8,424
Other construction, all land development and other land $28,275
Loans secured by nonfarm nonresidential properties $149,755
Nonfarm nonresidential secured by owner-occupied properties $80,128
Commercial real estate & other non-farm, non-residential $69,627
Multifamily residential real estate $787
1-4 family residential loans $152,011
Farmland loans $7,783
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $75,240
To non-U.S. addressees $0
Loans to individuals $9,579
Credit card loans $2,083
Related Plans $703
Consumer Auto Loans $2,082
Other loans to individuals $4,711
All other loans & leases $10,608
Loans to foreign governments and official institutions $0
Other loans $5,495
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 $3,667
Non 1-4 family restructured loans & leases $1,970
Total loans and leases (foreign) $0

Uwharrie Bank had $438,436,000 of loans outstanding in 2021. $347,035,000 of loans were in real estate loans. $36,699,000 of loans were in development loans. $787,000 of loans were in multifamily mortgage loans. $152,011,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $2,083,000 of loans were in credit card loans. $2,082,000 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 258 $51,254 $198,659
Nonfarm, nonresidential loans - <$100k 55 $2,594 $47,164
Nonfarm, nonresidential loans - $100-250k 114 $14,900 $130,702
Nonfarm, nonresidential loans - $250k-1MM 89 $33,760 $379,326
Commercial & Industrial, US addressed loans - <$1MM 524 $40,348 $77,000
Commercial & Industrial, US addressed loans - <$100k 338 $6,290 $18,609
Commercial & Industrial, US addressed loans - $100-250k 100 $9,908 $99,080
Commercial & Industrial, US addressed loans - $250k-1MM 86 $24,150 $280,814
Farmland loans - <$1MM 29 $3,520 $121,379
Farmland loans - <$100k 12 $580 $48,333
Farmland loans - $100-250k 12 $1,554 $129,500
Farmland loans - $250k-1MM 5 $1,386 $277,200