Bank Of Clarke County Mortgage Rates, Fees & Info

Berryville, VA

LEI: 5493002Z2Z7DV758IU60

Tax ID: 54-0132450

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Bank Of Clarke County is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Clarke County has a high proportion of conventional loans. Their top markets include Washington, Winchester, Hagerstown, Harrisburg, and Roanoke among others. Bank Of Clarke County has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

313

Origination Dollar Volume (All Markets)

$101,285,000

Employee count

221

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 119 $43,315,000 $363,992 $0 0.00%
WINCHESTER, VA-WV (FHA|USDA|VA) 144 $38,160,000 $265,000 $0 0.00%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 30 $8,210,000 $273,667 $0 0.00%
Outside of Metro Areas 9 $7,905,000 $878,333 $0 0.00%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 3 $655,000 $218,333 $0 0.00%
ROANOKE, VA (FHA|USDA|VA) 1 $625,000 $625,000 $0 0.00%
SALISBURY, MD-DE (FHA|USDA|VA) 2 $610,000 $305,000 $0 0.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $575,000 $575,000 $0 0.00%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $525,000 $525,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%

Bank Of Clarke County's top markets include Washington, Winchester, Hagerstown, Harrisburg, and Roanoke among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 313 $101,285,000 $323,594 $0 0.00%

For the 2021 period, Bank Of Clarke County's most frequently originated loan type of loans were Conventional, with 313 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 122 $40,050,000 $328,279 $0 0.00%
Refi 120 $47,430,000 $395,250 $0 0.00%
Cash Out Refi 45 $9,935,000 $220,778 $0 0.00%
Home Improvement 16 $2,070,000 $129,375 $0 0.00%
Other 10 $1,800,000 $180,000 $0 0.00%

For the 2021, Bank Of Clarke County's most frequently cited loan purpose of loans were Home Purchase, with 122 originations. The 2nd most popular reason of loans were Refi, with 120 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 313 $101,285,000 $323,594 $0 0.00%

For the 2021, Bank Of Clarke County's most frequently cited loan length of loans were Other, with 313 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 123 $18,245,000 $148,333 $0 0.00%
$200k-400k 77 $20,985,000 $272,532 $0 0.00%
$100,000 or less 50 $3,500,000 $70,000 $0 0.00%
$400k-600k 29 $13,645,000 $470,517 $0 0.00%
$600k-1MM 21 $14,915,000 $710,238 $0 0.00%
$1MM+ 13 $29,995,000 $2,307,308 $0 0.00%

2021 saw Bank Of Clarke County place emphasis on $100k-200k loans with 123 originations, totaling $18,245,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 45 $7,765,000 $172,556 $0 0.00%
$100k-150k 44 $10,970,000 $249,318 $0 0.00%
$250k+ 34 $17,940,000 $527,647 $0 0.00%
$50k or less 32 $4,630,000 $144,688 $0 0.00%
$150k-250k 25 $9,175,000 $367,000 $0 0.00%
$75k-100k 24 $4,880,000 $203,333 $0 0.00%

Bank Of Clarke County lent most frequently to those with incomes in the $50k-75k range, with 45 originations. The second most popular income band? $100k-150k, with 44 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 313 $101,285,000 $323,594 $0 0.00%

Bank Of Clarke County lent most frequently to those with DTI ratios of Exempt%, with 313 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 184 $47,490,000 $258,098 $0 0.00%
Not applicable 106 $45,190,000 $426,321 $0 0.00%
Not provided 12 $4,540,000 $378,333 $0 0.00%
Asian 5 $2,945,000 $589,000 $0 0.00%
Asian Indian 1 $545,000 $545,000 $0 0.00%
Black 3 $295,000 $98,333 $0 0.00%
Native Hawaiian 1 $165,000 $165,000 $0 0.00%
American Indian 1 $115,000 $115,000 $0 0.00%

Approval Rates

Total approvals of all applications
88.25%

Bank Of Clarke County has an average approval rate.

Pick Rate

Approvals leading to origination
84.09%

Bank Of Clarke County has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 313 $101,285,000 $323,594

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
313 $101,285,000 $323,594

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 20.0%
BANK OF THE WEST VA mortgage Trouble during payment process 1 3.3%
BANK OF THE WEST Other type of mortgage Trouble during payment process 2 6.7%
BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 1 3.3%
BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 3.3%
BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.3%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 3 10.0%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 4 13.3%
BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 6.7%
BANK OF THE WEST FHA mortgage Trouble during payment process 1 3.3%
BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 2 6.7%
BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 16.7%
BANK OF THE WEST Conventional home mortgage Closing on a mortgage 1 3.3%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Bank of Clarke County 1879 Berryville Pike Winchester, VA 22603 Full Service B&M $36,534
Bank of Clarke County 2 East Main Street Berryville, VA 22611 Full Service B&M $229,127
Bank of Clarke County 202 North Loudoun Street Winchester, VA 22601 Full Service B&M $153,246
Bank of Clarke County 203 Hirst Road Purcellville, VA 20132 Full Service B&M $89,361
Bank of Clarke County 2555 Pleasant Valley Road Winchester, VA 22601 Full Service B&M $93,334
Bank of Clarke County 382 Fairfax Pike Stephens City, VA 22655 Full Service B&M $86,814
Bank of Clarke County 44810 Saranac Street Ashburn, VA 20147 Full Service B&M $66,713
Bank of Clarke County 504 East Market Street Leesburg, VA 20176 Full Service B&M $111,090
Bank of Clarke County 8401 Greensboro Drive Suite 400a Mclean, VA 22102 Limited, Drive-thru $0
Bank of Clarke County 108 West Main Street Boyce, VA 22620 Full Service B&M $55,792
Bank of Clarke County 110 Crock Wells Mill Dr Winchester, VA 22603 Full Service B&M $58,764
Bank of Clarke County 1460 North Frederick Pike Winchester, VA 22603 Full Service B&M $75,571
Bank of Clarke County 1508 Senseny Road Winchester, VA 22602 Full Service B&M $47,184

For 2021, Bank Of Clarke County had 13 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $42,637
Net interest income $40,956
Total noninterest income $11,095
Gross Fiduciary activities income $1,891
Service charges on deposit accounts $1,235
Trading account gains and fees $0
Additional Noninterest Income $7,969
Pre-tax net operating income $13,018
Securities gains (or losses, -) $24
Income before extraordinary items $11,245
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $11,245
Minority interest net income $0
Net income $11,245
Sale, conversion, retirement of capital stock, net $0
Net operating income $11,224

Bank Of Clarke County's gross interest income from loans was $42,637,000.
Bank Of Clarke County's net interest income from loans was $40,956,000.
Bank Of Clarke County's fee based income from loans was $1,235,000.
Bank Of Clarke County's net income from loans was $11,245,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,681
Provision for credit losses $1,504
Total noninterest expense $37,529
Salaries and employee benefits $21,778
Premises and equipment expense $2,762
Additional noninterest expense $12,989
Applicable income taxes $1,797
Net charge-offs $-208
Cash dividends $1,500

Bank Of Clarke County's interest expense for loans was $1,681,000.
Bank Of Clarke County's payroll and benefits expense were $21,778,000.
Bank Of Clarke County's property, plant and equipment expenses $2,762,000.

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 $1,179,975
Deposits held in domestic offices $1,179,975
Deposits by Individuals, partnerships, and corporations $1,089,905
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $90,070
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 $168,565
Demand deposits $129,569
Nontransaction accounts $1,011,410
Money market deposit accounts (MMDAs) $252,399
Other savings deposits (excluding MMDAs) $635,427
Total time deposits $123,584
Total time and savings deposits $1,050,406
Noninterest-bearing deposits $473,095
Interest-bearing deposits $706,880
Retail deposits $1,114,818
IRAs and Keogh plan accounts $6,684
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,302,913
Cash & Balances due from depository institutions $63,840
Interest-bearing balances $49,304
Total securities $192,321
Federal funds sold & reverse repurchase $228
Net loans and leases $977,809
Loan and leases loss allowance $8,787
Trading account assets $0
Bank premises and fixed assets $18,249
Other real estate owned $0
Goodwill and other intangibles $0
All other assets $50,466

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,302,913
Total Liabilities $1,195,497
Total deposits $1,179,975
Interest-bearing deposits $706,880
Deposits held in domestic offices $1,179,975
% insured (estimated) $73
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $15,522

Issued Loan Types

Type Value (in 000's)
Net loans and leases $977,809
Loan and leases loss allowance $8,787
Total loans and leases (domestic) $986,596
All real estate loans $755,767
Real estate loans in domestic offices $755,767
Construction and development loans $71,190
Residential 1-4 family construction $10,077
Other construction, all land development and other land $61,113
Loans secured by nonfarm nonresidential properties $377,052
Nonfarm nonresidential secured by owner-occupied properties $191,994
Commercial real estate & other non-farm, non-residential $185,058
Multifamily residential real estate $29,093
1-4 family residential loans $264,722
Farmland loans $13,710
Loans held in foreign offices $0
Farm loans $808
Commercial and industrial loans $144,239
To non-U.S. addressees $0
Loans to individuals $69,798
Credit card loans $339
Related Plans $8,351
Consumer Auto Loans $3,011
Other loans to individuals $58,097
All other loans & leases $15,990
Loans to foreign governments and official institutions $0
Other loans $13,211
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 $2,522
Non 1-4 family restructured loans & leases $768
Total loans and leases (foreign) $0

Bank of Clarke County had $977,809,000 of loans outstanding in 2021. $755,767,000 of loans were in real estate loans. $71,190,000 of loans were in development loans. $29,093,000 of loans were in multifamily mortgage loans. $264,722,000 of loans were in 1-4 family mortgage loans. $808,000 of loans were in farm loans. $339,000 of loans were in credit card loans. $3,011,000 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 373 $118,734 $318,322
Nonfarm, nonresidential loans - <$100k 24 $1,079 $44,958
Nonfarm, nonresidential loans - $100-250k 93 $11,963 $128,634
Nonfarm, nonresidential loans - $250k-1MM 256 $105,692 $412,859
Commercial & Industrial, US addressed loans - <$1MM 676 $59,258 $87,660
Commercial & Industrial, US addressed loans - <$100k 340 $8,830 $25,971
Commercial & Industrial, US addressed loans - $100-250k 142 $12,156 $85,606
Commercial & Industrial, US addressed loans - $250k-1MM 194 $38,272 $197,278
Farmland loans - <$1MM 10 $2,216 $221,600
Farmland loans - <$100k 1 $13 $13,000
Farmland loans - $100-250k 4 $600 $150,000
Farmland loans - $250k-1MM 5 $1,603 $320,600
Agriculture operations loans - <$1MM 5 $268 $53,600
Agriculture operations loans - <$100k 4 $54 $13,500
Agriculture operations loans - $250k-1MM 1 $214 $214,000