Hancock County Savings Bank Fsb Mortgage Rates, Fees & Info

CHESTER, WV

LEI: 549300C6CUP19I9O0770

Tax ID: 55-0188195

5 stars - out of 5 stars, based on 28 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Hancock County Savings Bank Fsb is a smaller bank specializing in Home Purchase and Refi loans. Hancock County Savings Bank Fsb has a high proportion of conventional loans. Their top markets include Weirton, Salem, Pittsburgh, and Wheeling among others. Hancock County Savings Bank Fsb has an average approval rate for mortages when compared nationally. They have an average pick rate when compared to the same sample of other lendors. Hancock County Savings Bank Fsb is typically a low fee lendor.


Originations

803

Origination Dollar Volume (All Markets)

$91,755,000

Employee count

77

Awards

HANCOCK COUNTY SAVINGS BANK FSB  30 Year Conventional Loans gold HANCOCK COUNTY SAVINGS BANK FSB  30 Year Conventional Loans gold HANCOCK COUNTY SAVINGS BANK FSB  30 Year Conventional Loans gold HANCOCK COUNTY SAVINGS BANK FSB  30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Hancock County Savings Bank Fsb 's average 30 year fixed rate mortgage of loans were 3.25%.

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

This yields a difference of 0.1%.

Relative Fees

Hancock County Savings Bank Fsb 's average total fees for a 30 year fixed rate mortgage are $2,009.

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
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 562 $61,640,000 $109,680 $1,854 3.29%
Salem, OH (FHA|USDA|VA) 173 $18,635,000 $107,717 $1,734 3.25%
PITTSBURGH, PA (FHA|USDA|VA) 57 $8,865,000 $155,526 $2,789 3.23%
WHEELING, WV-OH (FHA|USDA|VA) 11 $2,615,000 $237,727 $2,218 3.15%

Hancock County Savings Bank Fsb 's top markets include Weirton, Salem, Pittsburgh, and Wheeling among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 803 $91,755,000 $114,265 $1,903 3.28%

For the 2021 period, Hancock County Savings Bank Fsb 's most frequently originated loan type of loans were Conventional, with 803 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 360 $41,500,000 $115,278 $1,997 3.34%
Refi 338 $44,640,000 $132,071 $1,902 3.09%
Home Improvement 80 $3,990,000 $49,875 $1,205 3.65%
Other 25 $1,625,000 $65,000 $1,196 3.63%

For the 2021, Hancock County Savings Bank Fsb 's most frequently cited loan purpose of loans were Home Purchase, with 360 originations. The 2nd most popular reason of loans were Refi, with 338 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 439 $59,625,000 $135,820 $2,009 3.25%
20 Year 165 $14,045,000 $85,121 $1,924 3.52%
15 Year 128 $12,870,000 $100,547 $1,823 2.83%
10 Year 45 $2,085,000 $46,333 $1,129 3.89%
Other 22 $3,060,000 $139,091 $1,974 3.13%
5 Year 4 $70,000 $17,500 $608 4.39%

For the 2021, Hancock County Savings Bank Fsb 's most frequently cited loan length of loans were 30 Year, with 439 originations. The 2nd most popular length of loans were 20 Year, with 165 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$<1k 704 $86,330,000 $122,628

$2,009 of loans were Hancock County Savings Bank Fsb 's average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 704 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
3-4% 519 $65,295,000 $125,809
2.5-3% 218 $23,040,000 $105,688
4-5% 52 $2,790,000 $53,654
5-6% 13 $425,000 $32,692
6-7% 1 $205,000 $205,000

During 2021, Hancock County Savings Bank Fsb 's average interest rate of loans were 3.25%, while their most frequently originated rate bucket of loans were 3-4%, with 519 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100,000 or less 424 $25,500,000 $60,142 $1,623 3.36%
$100k-200k 278 $37,570,000 $135,144 $1,980 3.17%
$200k-400k 94 $24,680,000 $262,553 $2,601 3.21%
$400k-600k 6 $3,000,000 $500,000 $3,140 3.21%
$1MM+ 1 $1,005,000 $1,005,000 $2,647 3.25%

2021 saw Hancock County Savings Bank Fsb place emphasis on $100,000 or less loans with 424 originations, totaling $25,500,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k or less 242 $19,040,000 $78,678 $1,703 3.24%
$50k-75k 184 $17,890,000 $97,228 $1,833 3.23%
$100k-150k 150 $22,610,000 $150,733 $2,122 3.28%
$75k-100k 144 $17,380,000 $120,694 $2,025 3.31%
$150k-250k 60 $9,570,000 $159,500 $2,040 3.35%
$250k+ 22 $5,150,000 $234,091 $2,689 3.60%

Hancock County Savings Bank Fsb lent most frequently to those with incomes in the $50k or less range, with 242 originations. The second most popular income band? $50k-75k, with 184 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 269 $30,685,000 $114,071 $1,845 3.25%
30-36% 173 $21,445,000 $123,960 $1,978 3.26%
<20% 172 $18,010,000 $104,709 $1,861 3.17%
39% 43 $4,975,000 $115,698 $2,020 3.32%
38% 32 $4,090,000 $127,813 $1,852 3.27%
40% 29 $3,185,000 $109,828 $1,961 3.30%
37% 28 $3,380,000 $120,714 $1,967 3.30%
36% 27 $2,545,000 $94,259 $1,788 3.20%
41% 6 $770,000 $128,333 $1,990 3.23%
42% 4 $610,000 $152,500 $2,005 3.13%
44% 2 $680,000 $340,000 $3,802 3.25%
>60% 1 $165,000 $165,000 $1,849 3.25%
43% 1 $35,000 $35,000 $1,717 2.75%
45% 1 $125,000 $125,000 $2,949 3.25%

Hancock County Savings Bank Fsb lent most frequently to those with DTI ratios of 20-30%, with 269 originations. The next most common DTI ratio? 30-36%, with 173 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 788 $90,360,000 $114,670 $1,902 3.27%
Black 14 $1,300,000 $92,857 $1,870 3.46%
Native Hawiian 1 $95,000 $95,000 $2,413 2.75%

Approval Rates

Total approvals of all applications
88.86%

Hancock County Savings Bank Fsb has an average approval rate.

Pick Rate

Approvals leading to origination
90.60%

Hancock County Savings Bank Fsb has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
1036.02 1 $145,000 $145,000
106.75 1 $55,000 $55,000
109.25 1 $45,000 $45,000
196.51 1 $105,000 $105,000
34.0 5 $135,000 $27,000
35.0 6 $430,000 $71,667
350.0 1 $25,000 $25,000
37.0 1 $35,000 $35,000
47.0 4 $130,000 $32,500
475.0 1 $35,000 $35,000
48.0 1 $15,000 $15,000
533.2 1 $35,000 $35,000
537.02 1 $35,000 $35,000
557.26 1 $25,000 $25,000
574.77 1 $55,000 $55,000
582.02 1 $25,000 $25,000
595.1 1 $15,000 $15,000
620.1 1 $25,000 $25,000
630.1 1 $15,000 $15,000
643.1 1 $25,000 $25,000
643.85 1 $25,000 $25,000
663.2 1 $45,000 $45,000
665.1 1 $15,000 $15,000
668.1 1 $25,000 $25,000
670.1 1 $65,000 $65,000
676.2 1 $35,000 $35,000
693.2 1 $45,000 $45,000
705.1 1 $65,000 $65,000
714.2 1 $15,000 $15,000
715.1 3 $125,000 $41,667
72.0 1 $255,000 $255,000
74.0 3 $135,000 $45,000
748.1 1 $45,000 $45,000
764.73 1 $55,000 $55,000
766.2 1 $25,000 $25,000
768.6 1 $35,000 $35,000
780.1 1 $55,000 $55,000
781.1 1 $55,000 $55,000
792.1 1 $55,000 $55,000
85.0 1 $55,000 $55,000
87.0 2 $80,000 $40,000
917.6 1 $95,000 $95,000
928.6 1 $35,000 $35,000
NA 743 $88,905,000 $119,657

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
803 $91,755,000 $114,265

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 74 $4,530,000 $61,216 $1,633 3.07%
40-60% 98 $11,190,000 $114,184 $1,886 3.05%
60-80% 326 $42,280,000 $129,693 $1,991 3.32%
80-100% 258 $32,180,000 $124,729 $1,950 3.25%
Under 20% 47 $1,575,000 $33,511 $598 3.87%

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
HANCOCK WHITNEY BANK Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 3 42.9%
HANCOCK WHITNEY BANK Conventional home mortgage Closing on a mortgage 1 14.3%
HANCOCK WHITNEY BANK Conventional home mortgage Trouble during payment process 1 14.3%
HANCOCK WHITNEY BANK Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 14.3%
HANCOCK WHITNEY BANK Other type of mortgage Trouble during payment process 1 14.3%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Hancock County Savings Bank, F.S.B. 1200 Ridge Avenue New Cumberland, WV 26047 Full Service B&M $55,590
Hancock County Savings Bank, F.S.B. 375 Three Springs Drive Weirton, WV 26062 Full Service B&M $167,461
Hancock County Savings Bank, F.S.B. 351 Carolina Avenue Chester, WV 26034 Full Service B&M $123,227

For 2021, Hancock County Savings Bank Fsb had 3 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $14,573
Net interest income $12,939
Total noninterest income $1,657
Gross Fiduciary activities income $0
Service charges on deposit accounts $400
Trading account gains and fees $0
Additional Noninterest Income $1,257
Pre-tax net operating income $5,128
Securities gains (or losses, -) $-15
Income before extraordinary items $3,813
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $3,813
Minority interest net income $0
Net income $3,813
Sale, conversion, retirement of capital stock, net $0
Net operating income $3,824

Hancock County Savings Bank Fsb 's gross interest income from loans was $14,573,000.
Hancock County Savings Bank Fsb 's net interest income from loans was $12,939,000.
Hancock County Savings Bank Fsb 's fee based income from loans was $400,000.
Hancock County Savings Bank Fsb 's net income from loans was $3,813,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $1,634
Provision for credit losses $-315
Total noninterest expense $9,783
Salaries and employee benefits $5,371
Premises and equipment expense $1,294
Additional noninterest expense $3,118
Applicable income taxes $1,300
Net charge-offs $-201
Cash dividends $0

Hancock County Savings Bank Fsb 's interest expense for loans was $1,634,000.
Hancock County Savings Bank Fsb 's payroll and benefits expense were $5,371,000.
Hancock County Savings Bank Fsb 's property, plant and equipment expenses $1,294,000.

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 $343,315
Deposits held in domestic offices $343,315
Deposits by Individuals, partnerships, and corporations $329,334
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $13,981
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 $101,702
Demand deposits $101,702
Nontransaction accounts $241,613
Money market deposit accounts (MMDAs) $32,641
Other savings deposits (excluding MMDAs) $132,613
Total time deposits $76,359
Total time and savings deposits $241,613
Noninterest-bearing deposits $32,132
Interest-bearing deposits $311,183
Retail deposits $334,288
IRAs and Keogh plan accounts $28,941
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $444,738
Cash & Balances due from depository institutions $30,762
Interest-bearing balances $28,358
Total securities $40,034
Federal funds sold & reverse repurchase $0
Net loans and leases $362,527
Loan and leases loss allowance $2,364
Trading account assets $0
Bank premises and fixed assets $3,427
Other real estate owned $46
Goodwill and other intangibles $80
All other assets $7,862

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $444,738
Total Liabilities $367,155
Total deposits $343,315
Interest-bearing deposits $311,183
Deposits held in domestic offices $343,315
% insured (estimated) $90
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $22,500
Subordinated debt $0
All other liabilities $1,340

Issued Loan Types

Type Value (in 000's)
Net loans and leases $362,527
Loan and leases loss allowance $2,364
Total loans and leases (domestic) $364,891
All real estate loans $351,613
Real estate loans in domestic offices $351,613
Construction and development loans $6,102
Residential 1-4 family construction $2,965
Other construction, all land development and other land $3,137
Loans secured by nonfarm nonresidential properties $4,565
Nonfarm nonresidential secured by owner-occupied properties $3,610
Commercial real estate & other non-farm, non-residential $955
Multifamily residential real estate $693
1-4 family residential loans $340,253
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $876
To non-U.S. addressees $0
Loans to individuals $12,378
Credit card loans $0
Related Plans $613
Consumer Auto Loans $4,871
Other loans to individuals $6,894
All other loans & leases $30
Loans to foreign governments and official institutions $0
Other loans $25
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 $1,176
Non 1-4 family restructured loans & leases $0
Total loans and leases (foreign) $0

HANCOCK COUNTY SAVINGS BANK FSB had $362,527,000 of loans outstanding in 2021. $351,613,000 of loans were in real estate loans. $6,102,000 of loans were in development loans. $693,000 of loans were in multifamily mortgage loans. $340,253,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $4,871,000 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 21 $2,297 $109,381
Nonfarm, nonresidential loans - <$100k 12 $628 $52,333
Nonfarm, nonresidential loans - $100-250k 7 $809 $115,571
Nonfarm, nonresidential loans - $250k-1MM 2 $860 $430,000
Commercial & Industrial, US addressed loans - <$1MM 30 $876 $29,200
Commercial & Industrial, US addressed loans - <$100k 28 $565 $20,179
Commercial & Industrial, US addressed loans - $100-250k 2 $311 $155,500