Logan Bank & Trust Company Mortgage Rates, Fees & Info

Logan, WV

LEI: 5493005G7RUITYI5B094

Tax ID: 55-0476409

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

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

    Logan Bank & Trust Company is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Logan Bank & Trust Company has a high proportion of conventional loans. Logan Bank & Trust Company has a low ratio of conventional loans. Their top two markets are Mount Gay and Charleston .

    Logan Bank & Trust Company 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    135

    Origination Dollar Volume (All Markets)

    $12,405,000

    Employee count

    57

    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
    Mount Gay-Shamrock, WV (FHA|USDA|VA) 92 $7,280,000 $79,130 $1,095 4.75%
    Outside of Metro Areas 22 $3,030,000 $137,727 $1,476 4.73%
    CHARLESTON, WV (FHA|USDA|VA) 21 $2,095,000 $99,762 $1,148 4.76%
    Logan Bank & Trust Company's top markets include Mount Gay and Charleston among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 134 $12,100,000 $90,299 $1,162 4.75%
    Conventional 1 $305,000 $305,000 $0 0.00%

    For 2019, Logan Bank & Trust Company's most frequently originated type of loan was Conventional, with 134 originations. Their 2nd most popular type was Conventional, with 1 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 69 $6,955,000 $100,797 $1,240 4.73%
    Cash Out Refi 27 $2,715,000 $100,556 $1,141 4.89%
    Home Improvement 20 $1,120,000 $56,000 $1,079 4.78%
    Other 17 $1,445,000 $85,000 $1,070 4.64%
    Refi 2 $170,000 $85,000 $528 4.28%

    For 2019, Logan Bank & Trust Company's most frequently cited loan purpose was Home Purchase, with 69 originations. The 2nd most popular reason was Cash Out Refi, with 27 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 38 $4,650,000 $122,368 $1,215 4.50%
    10 Year 37 $2,105,000 $56,892 $1,001 5.13%
    15 Year 32 $2,790,000 $87,188 $1,146 4.72%
    Other 18 $2,160,000 $120,000 $1,367 4.62%
    5 Year 8 $320,000 $40,000 $1,084 4.74%
    1 Year 1 $205,000 $205,000 $2,127 3.68%
    30+ year 1 $175,000 $175,000 $1,860 4.49%

    For 2019, Logan Bank & Trust Company's most frequently cited loan duration was 20 Year, with 38 originations. The 2nd most popular length was 10 Year, with 37 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 129 $11,215,000 $86,938

    Logan Bank & Trust Company's average total fees were $0, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 129 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 87 $8,235,000 $94,655
    5-6% 41 $3,105,000 $75,732
    3-4% 6 $760,000 $126,667

    During 2019, Logan Bank & Trust Company's average interest rate for loans was 0.00%, while their most frequently originated rate bucket for loans was 4-5%, with 87 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 95 $5,115,000 $53,842 $1,070 4.81%
    $100k-200k 24 $3,350,000 $139,583 $1,273 4.59%
    $200k-400k 16 $3,940,000 $246,250 $1,669 4.61%

    2019 saw Logan Bank & Trust Company place emphasis on $100,000 or less loans with 95 originations, totaling $5,115,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 35 $2,725,000 $77,857 $1,137 4.76%
    $50k or less 28 $1,420,000 $50,714 $1,023 4.86%
    $100k-150k 23 $2,285,000 $99,348 $1,215 4.86%
    $75k-100k 22 $1,740,000 $79,091 $1,137 4.61%
    $150k-250k 17 $2,215,000 $130,294 $1,334 4.69%
    $250k+ 6 $980,000 $163,333 $1,325 4.21%

    Logan Bank & Trust Company lent most frequently to those with incomes in the $50k-75k range, with 35 originations. The second most popular income band? $50k or less, with 28 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 54 $4,990,000 $92,407 $1,140 4.63%
    <20% 38 $2,970,000 $78,158 $1,209 4.64%
    30-36% 17 $1,245,000 $73,235 $1,160 4.95%
    38% 5 $615,000 $123,000 $1,111 4.85%
    41% 3 $325,000 $108,333 $1,201 5.31%
    36% 3 $145,000 $48,333 $950 5.15%
    43% 3 $485,000 $161,667 $1,231 4.72%
    37% 2 $170,000 $85,000 $1,116 4.58%
    Exempt% 1 $305,000 $305,000 $0 0.00%
    45% 1 $55,000 $55,000 $1,004 5.11%
    46% 1 $35,000 $35,000 $902 5.30%
    47% 1 $105,000 $105,000 $0 5.50%
    49% 1 $125,000 $125,000 $1,760 4.76%
    40% 1 $55,000 $55,000 $1,026 5.02%

    Logan Bank & Trust Company lent most frequently to those with DTI ratios of 20-30%, with 54 originations. The next most common DTI ratio? <20%, with 38 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 131 $11,615,000 $88,664 $1,163 4.74%
    Not applicable 3 $735,000 $245,000 $0 5.30%
    Black 1 $55,000 $55,000 $1,004 5.11%

    Approval Rates

    Total approvals of all applications
    77.25%

    Logan Bank & Trust Company has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    91.85%

    Logan Bank & Trust Company has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 1 $305,000 $305,000
    NA 134 $12,100,000 $90,299

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $205,000 $205,000
    Single Family (1-4 Units):Manufactured 26 $1,700,000 $65,385
    Single Family (1-4 Units):Site-Built 108 $10,500,000 $97,222

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 16 $680,000 $42,500 $1,063 4.74%
    40-60% 15 $1,365,000 $91,000 $1,201 4.64%
    60-80% 52 $4,730,000 $90,962 $1,192 4.85%
    80-100% 45 $5,165,000 $114,778 $1,195 4.70%
    Under 20% 6 $160,000 $26,667 $842 4.60%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Logan Bank & Trust Company 1 Us Highway 119 Logan, WV 25601 Full Service B&M $31,111
    Logan Bank & Trust Company 1218 Mcclellan Highway Harts, WV 25524 Full Service B&M $17,566
    Logan Bank & Trust Company 200 Huff Creek Highway Man, WV 25635 Full Service B&M $35,075
    Logan Bank & Trust Company 43 Washington Avenue Logan, WV 25601 Full Service B&M $90,595
    Logan Bank & Trust Company 46 Tracy Vickers Road Chapmanville, WV 25508 Full Service B&M $60,986
    Logan Bank & Trust Company 512-514 Stratton Street Logan, WV 25601 Full Service B&M $0

    For 2019, Logan Bank & Trust Company had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $8,577
    Net interest income $7,581
    Total noninterest income $1,402
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $499
    Trading account gains and fees $0
    Additional Noninterest Income $903
    Pre-tax net operating income $3,223
    Securities gains (or losses, -) $-230
    Income before extraordinary items $2,522
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,522
    Minority interest net income $0
    Net income $2,522
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,715

    Logan Bank & Trust Company's gross interest income from loans was $8,577,000.
    Logan Bank & Trust Company's net interest income from loans was $7,581,000.
    Logan Bank & Trust Company's fee based income from loans was $499,000.
    Logan Bank & Trust Company's net income from loans was $2,522,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $996
    Provision for credit losses $13
    Total noninterest expense $5,747
    Salaries and employee benefits $3,080
    Premises and equipment expense $551
    Additional noninterest expense $2,116
    Applicable income taxes $471
    Net charge-offs $75
    Cash dividends $1,593

    Logan Bank & Trust Company's interest expense for loans was $996,000.
    Logan Bank & Trust Company's payroll and benefits expense were $3,080,000.
    Logan Bank & Trust Company's property, plant and equipment expenses $551,000.

    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 $236,457
    Deposits held in domestic offices $236,457
    Deposits by Individuals, partnerships, and corporations $225,414
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $11,043
    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 $93,041
    Demand deposits $66,496
    Nontransaction accounts $143,416
    Money market deposit accounts (MMDAs) $10,653
    Other savings deposits (excluding MMDAs) $67,922
    Total time deposits $64,840
    Total time and savings deposits $169,961
    Noninterest-bearing deposits $66,497
    Interest-bearing deposits $169,960
    Retail deposits $219,331
    IRAs and Keogh plan accounts $13,622
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $265,752
    Cash & Balances due from depository institutions $21,086
    Interest-bearing balances $16,425
    Total securities $116,793
    Federal funds sold & reverse repurchase $5,408
    Net loans and leases $111,049
    Loan and leases loss allowance $1,057
    Trading account assets $0
    Bank premises and fixed assets $1,829
    Other real estate owned $352
    Goodwill and other intangibles $24
    All other assets $9,211

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $265,752
    Total Liabilities $239,392
    Total deposits $236,457
    Interest-bearing deposits $169,960
    Deposits held in domestic offices $236,457
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $2,935

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $111,049
    Loan and leases loss allowance $1,057
    Total loans and leases (domestic) $112,106
    All real estate loans $77,046
    Real estate loans in domestic offices $77,046
    Construction and development loans $1,848
    Residential 1-4 family construction $0
    Other construction, all land development and other land $1,848
    Loans secured by nonfarm nonresidential properties $15,799
    Nonfarm nonresidential secured by owner-occupied properties $7,960
    Commercial real estate & other non-farm, non-residential $7,839
    Multifamily residential real estate $0
    1-4 family residential loans $59,399
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $24,806
    To non-U.S. addressees $0
    Loans to individuals $10,226
    Credit card loans $188
    Related Plans $217
    Consumer Auto Loans $2,738
    Other loans to individuals $7,083
    All other loans & leases $28
    Loans to foreign governments and official institutions $0
    Other loans $28
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Logan Bank & Trust Company had $111,049,000 of loans outstanding in 2019. $77,046,000 of loans were in real estate loans. $1,848,000 of loans were in development loans. $0 of loans were in multifamily mortgage loans. $59,399,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $188,000 of loans were in credit card loans. $2,738,000 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 47 $15,799 $336,149
    Nonfarm, nonresidential loans - <$100k 15 $540 $36,000
    Nonfarm, nonresidential loans - $100-250k 12 $1,516 $126,333
    Nonfarm, nonresidential loans - $250k-1MM 20 $13,743 $687,150
    Commercial & Industrial, US addressed loans - <$1MM 261 $24,806 $95,042
    Commercial & Industrial, US addressed loans - <$100k 182 $1,537 $8,445
    Commercial & Industrial, US addressed loans - $100-250k 44 $5,573 $126,659
    Commercial & Industrial, US addressed loans - $250k-1MM 35 $17,696 $505,600