The Poca Valley Bank Mortgage Rates, Fees & Info

Walton, WV

LEI: 5493006IT65TMGZIKY68

Tax ID: 55-0727130

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

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    The Poca Valley Bank is a smaller bank specializing in Home Purchase loans. The Poca Valley Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Charleston, Huntington, Point Pleasant, Parkersburg, and Hagerstown among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

    The Poca Valley 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. The Poca Valley Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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

    302

    Origination Dollar Volume (All Markets)

    $39,800,000

    Employee count

    106

    Awards

    The Poca Valley Bank 30 Year Conventional Loans gold The Poca Valley Bank 30 Year Conventional Loans gold The Poca Valley Bank 30 Year Conventional Loans silver The Poca Valley Bank 30 Year Conventional Loans silver
    Show all (4) awards

    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
    CHARLESTON, WV (FHA|USDA|VA) 157 $19,415,000 $123,662 $2,218 4.93%
    HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) 37 $9,355,000 $252,838 $2,188 5.02%
    Outside of Metro Areas 95 $8,835,000 $93,000 $2,211 4.89%
    Point Pleasant, WV-OH (FHA|USDA|VA) 8 $1,760,000 $220,000 $1,936 5.03%
    PARKERSBURG-VIENNA, WV (FHA|USDA|VA) 3 $175,000 $58,333 $2,077 4.67%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $135,000 $135,000 $2,308 4.17%
    BECKLEY, WV (FHA|USDA|VA) 1 $125,000 $125,000 $1,468 6.08%
    The Poca Valley Bank's top markets include Charleston, Huntington, Point Pleasant, Parkersburg, and Hagerstown among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against The Poca Valley Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Town Square Bank
    Similarity Rank: 30
    The Poca Valley Bank, Inc.
    Similarity Rank: 203
    DESCO
    Similarity Rank: 216
    City National Bank of West Virginia
    Similarity Rank: 266
    The Ohio Valley Bank Company
    Similarity Rank: 408
    Community Trust Bank, Inc.
    Similarity Rank: 752
    The First State Bank
    Similarity Rank: 851
    Peoples Bank
    Similarity Rank: 920
    Summit Community Bank, Inc.
    Similarity Rank: 1023
    MYCUMORTGAGE, LLC
    Similarity Rank: 1104

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 284 $37,950,000 $133,627 $2,098 4.95%
    USDA 18 $1,850,000 $102,778 $3,675 4.60%

    For 2018, The Poca Valley Bank's most frequently originated type of loan was Conventional, with 284 originations. Their 2nd most popular type was USDA, with 18 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 203 $27,845,000 $137,167 $2,420 4.94%
    Cash Out Refi 58 $7,340,000 $126,552 $1,751 4.93%
    Refi 17 $2,985,000 $175,588 $1,856 4.34%
    Home Improvement 13 $765,000 $58,846 $1,616 5.64%
    Other 11 $865,000 $78,636 $1,975 4.81%

    For 2018, The Poca Valley Bank's most frequently cited loan purpose was Home Purchase, with 203 originations. The 2nd most popular reason was Cash Out Refi, with 58 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 205 $30,335,000 $147,976 $2,323 4.81%
    15 Year 43 $2,835,000 $65,930 $1,906 5.36%
    20 Year 24 $1,680,000 $70,000 $1,906 5.15%
    10 Year 10 $640,000 $64,000 $1,800 4.58%
    5 Year 10 $2,770,000 $277,000 $0 5.43%
    Other 9 $1,335,000 $148,333 $1,603 4.79%
    1 Year 1 $205,000 $205,000 $1,920 6.50%

    For 2018, The Poca Valley Bank's most frequently cited loan duration was 30 Year, with 205 originations. The 2nd most popular length was 15 Year, with 43 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 263 $33,465,000 $127,243
    $1k-2k 6 $570,000 $95,000
    $2k-3k 1 $145,000 $145,000
    $3k-4k 1 $295,000 $295,000

    The Poca Valley Bank's average total fees were $2,323, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 263 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 162 $24,760,000 $152,840
    5-6% 72 $7,270,000 $100,972
    3-4% 35 $4,465,000 $127,571
    6-7% 21 $2,365,000 $112,619
    7-8% 10 $860,000 $86,000
    Over 8% 2 $80,000 $40,000

    During 2018, The Poca Valley Bank's average interest rate for loans was 4.81%, while their most frequently originated rate bucket for loans was 4-5%, with 162 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 157 $9,345,000 $59,522 $2,120 5.09%
    $100k-200k 93 $12,975,000 $139,516 $2,264 4.77%
    $200k-400k 45 $12,215,000 $271,444 $2,320 4.66%
    $400k-600k 4 $1,980,000 $495,000 $2,401 5.83%
    $600k-1MM 2 $1,560,000 $780,000 $2,631 4.56%
    $1MM+ 1 $1,725,000 $1,725,000 $0 4.75%

    2018 saw The Poca Valley Bank place emphasis on $100,000 or less loans with 157 originations, totaling $9,345,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 107 $7,915,000 $73,972 $2,222 5.11%
    $50k-75k 78 $8,450,000 $108,333 $2,320 4.77%
    $100k-150k 56 $10,920,000 $195,000 $2,016 4.83%
    $75k-100k 31 $4,155,000 $134,032 $1,926 4.73%
    $150k-250k 15 $3,755,000 $250,333 $2,456 5.06%
    $250k+ 5 $1,435,000 $287,000 $3,004 4.40%

    The Poca Valley Bank lent most frequently to those with incomes in the $50k or less range, with 107 originations. The second most popular income band? $50k-75k, with 78 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 75 $9,055,000 $120,733 $2,267 4.78%
    30-36% 65 $8,775,000 $135,000 $2,186 5.08%
    <20% 45 $4,005,000 $89,000 $2,191 4.93%
    40% 21 $2,595,000 $123,571 $2,075 4.91%
    38% 13 $1,395,000 $107,308 $2,237 5.38%
    37% 12 $1,400,000 $116,667 $2,214 4.79%
    39% 11 $875,000 $79,545 $2,141 4.53%
    42% 10 $1,650,000 $165,000 $2,248 4.92%
    36% 9 $1,425,000 $158,333 $2,292 4.94%
    44% 7 $985,000 $140,714 $2,633 4.72%
    41% 4 $370,000 $92,500 $2,381 5.18%
    43% 4 $1,450,000 $362,500 $1,576 5.64%
    >60% 4 $1,300,000 $325,000 $1,927 4.00%
    46% 3 $345,000 $115,000 $2,050 4.06%
    45% 3 $215,000 $71,667 $1,762 4.64%
    47% 2 $210,000 $105,000 $2,081 4.80%
    48% 1 $285,000 $285,000 $2,462 4.13%
    50-60% 1 $125,000 $125,000 $0 5.50%

    The Poca Valley Bank lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 65 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 285 $35,345,000 $124,018 $2,206 4.90%
    Not applicable 9 $3,065,000 $340,556 $0 5.58%
    Not provided 2 $480,000 $240,000 $1,568 5.50%
    Black 3 $415,000 $138,333 $1,519 5.19%
    Asian 2 $380,000 $190,000 $2,799 5.36%
    1 $115,000 $115,000 $2,285 4.33%

    Approval Rates

    Total approvals of all applications
    85.27%

    The Poca Valley Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    76.82%

    The Poca Valley Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 302 $39,800,000 $131,788

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 4 $2,630,000 $657,500
    Single Family (1-4 Units):Manufactured 69 $6,215,000 $90,072
    Single Family (1-4 Units):Site-Built 229 $30,955,000 $135,175

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 18 $910,000 $50,556 $1,675 4.96%
    40-60% 33 $2,765,000 $83,788 $2,157 4.65%
    60-80% 89 $12,185,000 $136,910 $2,253 4.75%
    80-100% 152 $21,430,000 $140,987 $2,274 5.08%
    Over 100% 2 $410,000 $205,000 $2,341 4.42%
    Under 20% 6 $280,000 $46,667 $1,155 5.61%

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    TIAA, FSB VA mortgage Closing on a mortgage 3 5.6%
    TIAA, FSB FHA mortgage Trouble during payment process 3 5.6%
    TIAA, FSB Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 1.9%
    TIAA, FSB Home equity loan or line of credit (HELOC) Trouble during payment process 2 3.7%
    TIAA, FSB Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 1.9%
    TIAA, FSB Other type of mortgage Struggling to pay mortgage 4 7.4%
    TIAA, FSB Other type of mortgage Trouble during payment process 5 9.3%
    TIAA, FSB VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 1.9%
    TIAA, FSB Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 7.4%
    TIAA, FSB Conventional home mortgage Closing on a mortgage 3 5.6%
    TIAA, FSB Conventional home mortgage Incorrect information on your report 1 1.9%
    TIAA, FSB Conventional home mortgage Struggling to pay mortgage 3 5.6%
    TIAA, FSB Conventional home mortgage Trouble during payment process 17 31.5%
    TIAA, FSB FHA mortgage Closing on a mortgage 3 5.6%
    TIAA, FSB FHA mortgage Incorrect information on your report 1 1.9%
    TIAA, FSB FHA mortgage Struggling to pay mortgage 2 3.7%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Poca Valley Bank, Inc. 1 Black Walnut Avenue Spencer, WV 25276 Full Service B&M $50,943
    The Poca Valley Bank, Inc. 3500 Winfield Road Winfield, WV 25213 Full Service B&M $25,257
    The Poca Valley Bank, Inc. 6420 Sissonville Drive Sissonville, WV 25320 Full Service B&M $31,948
    The Poca Valley Bank, Inc. 7033 Charleston Road Walton, WV 25286 Full Service B&M $51,168
    The Poca Valley Bank, Inc. Route 62, Main Street Poca, WV 25159 Full Service B&M $11,726
    The Poca Valley Bank, Inc. U.S. Highway 119 And 2nd Avenue Clendenin, WV 25045 Full Service B&M $42,996
    The Poca Valley Bank, Inc. U.S. Highway 119 And State Road 43 Elkview, WV 25071 Full Service B&M $68,834

    For 2018, The Poca Valley Bank had 7 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,439
    Net interest income $14,018
    Total noninterest income $4,387
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $1,207
    Trading account gains and fees $0
    Additional Noninterest Income $3,180
    Pre-tax net operating income $3,380
    Securities gains (or losses, -) $6
    Income before extraordinary items $2,647
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $2,647
    Minority interest net income $0
    Net income $2,647
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $2,642

    The Poca Valley Bank's gross interest income from loans was $15,439,000.
    The Poca Valley Bank's net interest income from loans was $14,018,000.
    The Poca Valley Bank's fee based income from loans was $1,207,000.
    The Poca Valley Bank's net income from loans was $2,647,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,421
    Provision for credit losses $650
    Total noninterest expense $14,375
    Salaries and employee benefits $7,686
    Premises and equipment expense $1,765
    Additional noninterest expense $4,924
    Applicable income taxes $739
    Net charge-offs $905
    Cash dividends $2,025

    The Poca Valley Bank's interest expense for loans was $1,421,000.
    The Poca Valley Bank's payroll and benefits expense were $7,686,000.
    The Poca Valley Bank's property, plant and equipment expenses $1,765,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 3.0%
    1-4 family residential loans 0.0%
    HELOC loans 2.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.2%
    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 $324,667
    Deposits held in domestic offices $324,667
    Deposits by Individuals, partnerships, and corporations $303,291
    Deposits by U.S. Government $1
    Deposits by States and political subdivisions in the U.S. $20,394
    Deposits by Commercial banks and other depository institutions in U.S. $981
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $168,244
    Demand deposits $78,640
    Nontransaction accounts $156,423
    Money market deposit accounts (MMDAs) $35,155
    Other savings deposits (excluding MMDAs) $47,313
    Total time deposits $73,955
    Total time and savings deposits $246,027
    Noninterest-bearing deposits $78,657
    Interest-bearing deposits $246,010
    Retail deposits $312,125
    IRAs and Keogh plan accounts $15,187
    Brokered deposits $5,010
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $372,430
    Cash & Balances due from depository institutions $16,565
    Interest-bearing balances $8,847
    Total securities $21,199
    Federal funds sold & reverse repurchase $51,784
    Net loans and leases $262,753
    Loan and leases loss allowance $2,321
    Trading account assets $0
    Bank premises and fixed assets $7,065
    Other real estate owned $629
    Goodwill and other intangibles $108
    All other assets $12,327

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $372,430
    Total Liabilities $337,376
    Total deposits $324,667
    Interest-bearing deposits $246,010
    Deposits held in domestic offices $324,667
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $8,000
    Subordinated debt $0
    All other liabilities $4,709

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $262,753
    Loan and leases loss allowance $2,321
    Total loans and leases (domestic) $265,074
    All real estate loans $200,210
    Real estate loans in domestic offices $200,210
    Construction and development loans $13,909
    Residential 1-4 family construction $6,922
    Other construction, all land development and other land $6,987
    Loans secured by nonfarm nonresidential properties $43,071
    Nonfarm nonresidential secured by owner-occupied properties $20,953
    Commercial real estate & other non-farm, non-residential $22,118
    Multifamily residential real estate $16,736
    1-4 family residential loans $125,951
    Farmland loans $543
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $35,801
    To non-U.S. addressees $0
    Loans to individuals $26,858
    Credit card loans $2,120
    Related Plans $767
    Consumer Auto Loans $12,645
    Other loans to individuals $11,326
    All other loans & leases $2,360
    Loans to foreign governments and official institutions $0
    Other loans $55
    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 $965
    Non 1-4 family restructured loans & leases $509
    Total loans and leases (foreign) $0

    The Poca Valley Bank had $262,753,000 of loans outstanding in 2018. $200,210,000 of loans were in real estate loans. $13,909,000 of loans were in development loans. $16,736,000 of loans were in multifamily mortgage loans. $125,951,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $2,120,000 of loans were in credit card loans. $12,645,000 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 182 $26,404 $145,077
    Nonfarm, nonresidential loans - <$100k 81 $3,575 $44,136
    Nonfarm, nonresidential loans - $100-250k 58 $7,262 $125,207
    Nonfarm, nonresidential loans - $250k-1MM 43 $15,567 $362,023
    Commercial & Industrial, US addressed loans - <$1MM 298 $24,557 $82,406
    Commercial & Industrial, US addressed loans - <$100k 206 $5,923 $28,752
    Commercial & Industrial, US addressed loans - $100-250k 46 $5,729 $124,543
    Commercial & Industrial, US addressed loans - $250k-1MM 46 $12,905 $280,543
    Farmland loans - <$1MM 2 $46 $23,000
    Farmland loans - <$100k 2 $46 $23,000