The Poca Valley Bank Mortgage Rates, Fees & Info
Walton, WVLEI: 5493006IT65TMGZIKY68
Tax ID: 55-0727130
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Bank Data
Review & Overview
The Poca Valley Bank is a smaller bank specializing in Home Purchase and Refi 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, Columbus, and Charleston among others. We have data for 16 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.
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Originations
398Origination Dollar Volume (All Markets)
$67,690,000Employee count
104Top 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) | 213 | $32,185,000 | $151,103 | $0 | 0.00% |
| Outside of Metro Areas | 91 | $14,905,000 | $163,791 | $0 | 0.00% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 68 | $14,870,000 | $218,676 | $0 | 0.00% |
| Point Pleasant, WV-OH (FHA|USDA|VA) | 11 | $1,955,000 | $177,727 | $0 | 0.00% |
| COLUMBUS, OH (FHA|USDA|VA) | 1 | $1,055,000 | $1,055,000 | $0 | 0.00% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $955,000 | $955,000 | $0 | 0.00% |
| BECKLEY, WV (FHA|USDA|VA) | 3 | $295,000 | $98,333 | $0 | 0.00% |
| LYNCHBURG, VA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $0 | 0.00% |
| Mount Sterling, KY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $0 | 0.00% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 2 | $200,000 | $100,000 | $0 | 0.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 1 | $175,000 | $175,000 | $0 | 0.00% |
| DAYTON-KETTERING, OH (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $0 | 0.00% |
| Fairmont, WV (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
| MORGANTOWN, WV (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $0 | 0.00% |
| Mount Gay-Shamrock, WV (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 0.00% |
| MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) | 1 | $55,000 | $55,000 | $0 | 0.00% |
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.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 374 | $65,170,000 | $174,251 | $0 | 0.00% |
| USDA | 24 | $2,520,000 | $105,000 | $0 | 0.00% |
For 2020, The Poca Valley Bank's most frequently originated type of loan was Conventional, with 374 originations. Their 2nd most popular type was USDA, with 24 originations.
Loan Reason
For 2020, The Poca Valley Bank's most frequently cited loan purpose was Home Purchase, with 217 originations. The 2nd most popular reason was Refi, with 78 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 398 | $67,690,000 | $170,075 | $0 | 0.00% |
For 2020, The Poca Valley Bank's most frequently cited loan duration was Other, with 398 originations.
Loan Sizing
2020 saw The Poca Valley Bank place emphasis on $100k-200k loans with 155 originations, totaling $22,255,000 in origination value.
Applicant Income
The Poca Valley Bank lent most frequently to those with incomes in the $50k-75k range, with 118 originations. The second most popular income band? $50k or less, with 88 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 398 | $67,690,000 | $170,075 | $0 | 0.00% |
The Poca Valley Bank lent most frequently to those with DTI ratios of Exempt%, with 398 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications78.74%
The Poca Valley Bank has a below average approval rate.
Pick Rate
Approvals leading to origination75.88%
The Poca Valley Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 398 | $67,690,000 | $170,075 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| TIAA, FSB | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 2.1% |
| TIAA, FSB | Conventional home mortgage | Closing on a mortgage | 2 | 4.3% |
| TIAA, FSB | Conventional home mortgage | Incorrect information on your report | 1 | 2.1% |
| TIAA, FSB | Conventional home mortgage | Struggling to pay mortgage | 5 | 10.6% |
| TIAA, FSB | Conventional home mortgage | Trouble during payment process | 24 | 51.1% |
| TIAA, FSB | FHA mortgage | Struggling to pay mortgage | 4 | 8.5% |
| TIAA, FSB | Home equity loan or line of credit (HELOC) | Struggling to pay mortgage | 1 | 2.1% |
| TIAA, FSB | Home equity loan or line of credit (HELOC) | Trouble during payment process | 4 | 8.5% |
| TIAA, FSB | Other type of mortgage | Trouble during payment process | 1 | 2.1% |
| TIAA, FSB | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 4 | 8.5% |
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 | $58,234 |
| The Poca Valley Bank, Inc. | 3500 Winfield Road Winfield, WV 25213 | Full Service B&M | $37,313 |
| The Poca Valley Bank, Inc. | 6420 Sissonville Drive Sissonville, WV 25320 | Full Service B&M | $51,922 |
| The Poca Valley Bank, Inc. | 7033 Charleston Road Walton, WV 25286 | Full Service B&M | $72,661 |
| The Poca Valley Bank, Inc. | Route 62, Main Street Poca, WV 25159 | Full Service B&M | $15,509 |
| The Poca Valley Bank, Inc. | U.S. Highway 119 And 2nd Avenue Clendenin, WV 25045 | Full Service B&M | $49,230 |
| The Poca Valley Bank, Inc. | U.S. Highway 119 And State Road 43 Elkview, WV 25071 | Full Service B&M | $89,428 |
For 2020, The Poca Valley Bank had 7 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $16,662 |
| Net interest income | $14,755 |
| Total noninterest income | $4,134 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $922 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $3,212 |
| Pre-tax net operating income | $3,210 |
| Securities gains (or losses, -) | $0 |
| Income before extraordinary items | $2,575 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $2,575 |
| Minority interest net income | $0 |
| Net income | $2,575 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $2,575 |
The Poca Valley Bank's gross interest income from loans was $16,662,000.
The Poca Valley Bank's net interest income from loans was $14,755,000.
The Poca Valley Bank's fee based income from loans was $922,000.
The Poca Valley Bank's net income from loans was $2,575,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $1,907 |
| Provision for credit losses | $650 |
| Total noninterest expense | $15,029 |
| Salaries and employee benefits | $8,266 |
| Premises and equipment expense | $1,627 |
| Additional noninterest expense | $5,136 |
| Applicable income taxes | $635 |
| Net charge-offs | $476 |
| Cash dividends | $1,964 |
The Poca Valley Bank's interest expense for loans was $1,907,000.
The Poca Valley Bank's payroll and benefits expense were $8,266,000.
The Poca Valley Bank's property, plant and equipment expenses $1,627,000.
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 | 0.0% |
| Nonfarm, nonresidential loans | 0.0% |
| Multifamily residential loans | 2.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 0.0% |
| All other family | 1.0% |
| Commercial & industrial loans | 0.0% |
| Personal loans | 0.0% |
| Credit card loans | 1.3% |
| 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 | $397,697 |
| Deposits held in domestic offices | $397,697 |
| Deposits by Individuals, partnerships, and corporations | $388,293 |
| Deposits by U.S. Government | $1 |
| Deposits by States and political subdivisions in the U.S. | $9,403 |
| 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 | $245,777 |
| Demand deposits | $116,384 |
| Nontransaction accounts | $151,920 |
| Money market deposit accounts (MMDAs) | $10,515 |
| Other savings deposits (excluding MMDAs) | $54,759 |
| Total time deposits | $86,646 |
| Total time and savings deposits | $281,313 |
| Noninterest-bearing deposits | $116,386 |
| Interest-bearing deposits | $281,311 |
| Retail deposits | $383,393 |
| IRAs and Keogh plan accounts | $14,286 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $448,423 |
| Cash & Balances due from depository institutions | $19,144 |
| Interest-bearing balances | $12,721 |
| Total securities | $49,132 |
| Federal funds sold & reverse repurchase | $41,959 |
| Net loans and leases | $316,897 |
| Loan and leases loss allowance | $3,000 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $6,785 |
| Other real estate owned | $604 |
| Goodwill and other intangibles | $78 |
| All other assets | $13,824 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $448,423 |
| Total Liabilities | $411,194 |
| Total deposits | $397,697 |
| Interest-bearing deposits | $281,311 |
| Deposits held in domestic offices | $397,697 |
| % insured (estimated) | $82 |
| Federal funds purchased and repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $8,000 |
| Subordinated debt | $0 |
| All other liabilities | $5,497 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $316,897 |
| Loan and leases loss allowance | $3,000 |
| Total loans and leases (domestic) | $319,897 |
| All real estate loans | $226,254 |
| Real estate loans in domestic offices | $226,254 |
| Construction and development loans | $15,126 |
| Residential 1-4 family construction | $6,095 |
| Other construction, all land development and other land | $9,031 |
| Loans secured by nonfarm nonresidential properties | $50,601 |
| Nonfarm nonresidential secured by owner-occupied properties | $18,195 |
| Commercial real estate & other non-farm, non-residential | $32,406 |
| Multifamily residential real estate | $16,402 |
| 1-4 family residential loans | $143,604 |
| Farmland loans | $521 |
| Loans held in foreign offices | $0 |
| Farm loans | $279 |
| Commercial and industrial loans | $67,701 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $24,560 |
| Credit card loans | $1,858 |
| Related Plans | $821 |
| Consumer Auto Loans | $12,050 |
| Other loans to individuals | $9,831 |
| All other loans & leases | $1,211 |
| Loans to foreign governments and official institutions | $0 |
| Other loans | $34 |
| 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 | $1,604 |
| Non 1-4 family restructured loans & leases | $703 |
| Total loans and leases (foreign) | $0 |
The Poca Valley Bank had $316,897,000 of loans outstanding in 2020. $226,254,000 of loans were in real estate loans. $15,126,000 of loans were in development loans. $16,402,000 of loans were in multifamily mortgage loans. $143,604,000 of loans were in 1-4 family mortgage loans. $279,000 of loans were in farm loans. $1,858,000 of loans were in credit card loans. $12,050,000 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 | 168 | $24,872 | $148,048 |
| Nonfarm, nonresidential loans - <$100k | 67 | $2,946 | $43,970 |
| Nonfarm, nonresidential loans - $100-250k | 58 | $7,237 | $124,776 |
| Nonfarm, nonresidential loans - $250k-1MM | 43 | $14,689 | $341,605 |
| Commercial & Industrial, US addressed loans - <$1MM | 463 | $46,153 | $99,683 |
| Commercial & Industrial, US addressed loans - <$100k | 319 | $9,110 | $28,558 |
| Commercial & Industrial, US addressed loans - $100-250k | 70 | $9,425 | $134,643 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 74 | $27,618 | $373,216 |
| Farmland loans - <$1MM | 3 | $132 | $44,000 |
| Farmland loans - <$100k | 3 | $132 | $44,000 |
| Agriculture operations loans - <$1MM | 7 | $279 | $39,857 |
| Agriculture operations loans - <$100k | 7 | $279 | $39,857 |