The Old Point National Bank Of Phoebus Mortgage Rates, Fees & Info

Hampton, VA

LEI: 549300CPWNBJ0UCBZ853

Tax ID: 54-0325370

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

The Old Point National Bank Of Phoebus is a smaller bank specializing in Home Purchase, Refi, and Cash Out Refi loans. The Old Point National Bank Of Phoebus has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets include Virginia Beach, Charlotte, Kill Devil Hills, Richmond, and Hickory among others. The Old Point National Bank Of Phoebus has an above 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

367

Origination Dollar Volume (All Markets)

$104,835,000

Employee count

243

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 281 $73,635,000 $262,046 $0 0.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 38 $15,210,000 $400,263 $0 0.00%
Outside of Metro Areas 9 $3,395,000 $377,222 $0 0.00%
Kill Devil Hills, NC (FHA|USDA|VA) 6 $2,650,000 $441,667 $0 0.00%
RICHMOND, VA (FHA|USDA|VA) 9 $2,635,000 $292,778 $0 0.00%
HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 3 $2,065,000 $688,333 $0 0.00%
CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) 2 $1,090,000 $545,000 $0 0.00%
RALEIGH-CARY, NC (FHA|USDA|VA) 2 $700,000 $350,000 $0 0.00%
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 2 $540,000 $270,000 $0 0.00%
Roanoke Rapids, NC (FHA|USDA|VA) 4 $450,000 $112,500 $0 0.00%
WILMINGTON, NC (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $355,000 $355,000 $0 0.00%
ASHEVILLE, NC (FHA|USDA|VA) 1 $325,000 $325,000 $0 0.00%
Boone, NC (FHA|USDA|VA) 1 $265,000 $265,000 $0 0.00%
DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
JACKSONVILLE, NC (FHA|USDA|VA) 1 $145,000 $145,000 $0 0.00%
Elizabeth City, NC (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
Washington, NC (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%

The Old Point National Bank Of Phoebus's top markets include Virginia Beach, Charlotte, Kill Devil Hills, Richmond, and Hickory among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 361 $103,735,000 $287,355 $0 0.00%
FHA 6 $1,100,000 $183,333 $0 0.00%

For the 2021 period, The Old Point National Bank Of Phoebus's most frequently originated loan type of loans were Conventional, with 361 originations. Their 2nd most popular type is FHA, with 6 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 145 $46,535,000 $320,931 $0 0.00%
Refi 118 $33,210,000 $281,441 $0 0.00%
Cash Out Refi 88 $23,760,000 $270,000 $0 0.00%
Home Improvement 9 $815,000 $90,556 $0 0.00%
Other 7 $515,000 $73,571 $0 0.00%

For the 2021, The Old Point National Bank Of Phoebus's most frequently cited loan purpose of loans were Home Purchase, with 145 originations. The 2nd most popular reason of loans were Refi, with 118 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 367 $104,835,000 $285,654 $0 0.00%

For the 2021, The Old Point National Bank Of Phoebus's most frequently cited loan length of loans were Other, with 367 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 143 $40,235,000 $281,364 $0 0.00%
$100k-200k 118 $18,100,000 $153,390 $0 0.00%
$400k-600k 50 $24,190,000 $483,800 $0 0.00%
$100,000 or less 35 $1,625,000 $46,429 $0 0.00%
$600k-1MM 14 $10,670,000 $762,143 $0 0.00%
$1MM+ 7 $10,015,000 $1,430,714 $0 0.00%

2021 saw The Old Point National Bank Of Phoebus place emphasis on $200k-400k loans with 143 originations, totaling $40,235,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 80 $23,040,000 $288,000 $0 0.00%
$150k-250k 71 $23,285,000 $327,958 $0 0.00%
$50k-75k 65 $11,465,000 $176,385 $0 0.00%
$75k-100k 64 $14,720,000 $230,000 $0 0.00%
$250k+ 41 $23,715,000 $578,415 $0 0.00%
$50k or less 36 $4,810,000 $133,611 $0 0.00%

The Old Point National Bank Of Phoebus lent most frequently to those with incomes in the $100k-150k range, with 80 originations. The second most popular income band? $150k-250k, with 71 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 367 $104,835,000 $285,654 $0 0.00%

The Old Point National Bank Of Phoebus lent most frequently to those with DTI ratios of Exempt%, with 367 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 278 $78,860,000 $283,669 $0 0.00%
Not provided 29 $8,475,000 $292,241 $0 0.00%
Asian 15 $6,145,000 $409,667 $0 0.00%
Black 30 $5,810,000 $193,667 $0 0.00%
Not applicable 10 $3,800,000 $380,000 $0 0.00%
American Indian 4 $1,340,000 $335,000 $0 0.00%
Native Hawaiian 1 $405,000 $405,000 $0 0.00%

Approval Rates

Total approvals of all applications
93.21%

The Old Point National Bank Of Phoebus has an average approval rate.

Pick Rate

Approvals leading to origination
89.21%

The Old Point National Bank Of Phoebus has an average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 367 $104,835,000 $285,654

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
367 $104,835,000 $285,654

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
The Old Point National Bank of Phoebus 10 South Mallory Street Hampton, VA 23663 Limited, Administrative $0
The Old Point National Bank of Phoebus 24 Wine Street Hampton, VA 23669 Full Service B&M $140,794
The Old Point National Bank of Phoebus 347 Woodland Road Hampton, VA 23669 Full Service B&M $61,820
The Old Point National Bank of Phoebus 351 Independence Boulevard Virginia Beach, VA 23462 Full Service B&M $26,965
The Old Point National Bank of Phoebus 4030 West Mercury Boulevard Hampton, VA 23666 Full Service B&M $65,393
The Old Point National Bank of Phoebus 4139 Ironbound Road Williamsburg, VA 23188 Full Service B&M $90,203
The Old Point National Bank of Phoebus 580 East Main Street Norfolk, VA 23510 Full Service B&M $76,618
The Old Point National Bank of Phoebus 740 Eden Way North Chesapeake, VA 23320 Full Service B&M $57,593
The Old Point National Bank of Phoebus 1 West Mellen Street Hampton, VA 23663 Full Service B&M $161,242
The Old Point National Bank of Phoebus 100 Griffith Street Fort Monroe, VA 23651 Full Service B&M $0
The Old Point National Bank of Phoebus 11407 Windsor Boulevard Windsor, VA 23487 Full Service B&M $34,027
The Old Point National Bank of Phoebus 11751 Jefferson Avenue Newport News, VA 23606 Full Service B&M $167,801
The Old Point National Bank of Phoebus 11780 Jefferson Avenue Newport News, VA 23606 Full Service B&M $0
The Old Point National Bank of Phoebus 13489 Carrollton Boulevard Carrollton, VA 23314 Full Service B&M $25,511
The Old Point National Bank of Phoebus 13801 Warwick Boulevard Newport News, VA 23602 Full Service B&M $63,386
The Old Point National Bank of Phoebus 1613 Laskin Road Virginia Beach, VA 23451 Full Service B&M $47,062
The Old Point National Bank of Phoebus 1812 Granby Street Norfolk, VA 23510 Full Service B&M $21,656
The Old Point National Bank of Phoebus 201 Kiln Creek Parkway Yorktown, VA 23693 Full Service B&M $50,331
The Old Point National Bank of Phoebus 2101 Executive Drive Hampton, VA 23666 Full Service B&M $44,621

For 2021, The Old Point National Bank Of Phoebus had 19 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $42,227
Net interest income $39,318
Total noninterest income $9,681
Gross Fiduciary activities income $0
Service charges on deposit accounts $2,866
Trading account gains and fees $0
Additional Noninterest Income $6,815
Pre-tax net operating income $10,111
Securities gains (or losses, -) $0
Income before extraordinary items $8,738
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $8,738
Minority interest net income $0
Net income $8,738
Sale, conversion, retirement of capital stock, net $0
Net operating income $8,738

The Old Point National Bank Of Phoebus's gross interest income from loans was $42,227,000.
The Old Point National Bank Of Phoebus's net interest income from loans was $39,318,000.
The Old Point National Bank Of Phoebus's fee based income from loans was $2,866,000.
The Old Point National Bank Of Phoebus's net income from loans was $8,738,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $2,909
Provision for credit losses $794
Total noninterest expense $38,094
Salaries and employee benefits $21,681
Premises and equipment expense $4,447
Additional noninterest expense $11,966
Applicable income taxes $1,373
Net charge-offs $470
Cash dividends $3,200

The Old Point National Bank Of Phoebus's interest expense for loans was $2,909,000.
The Old Point National Bank Of Phoebus's payroll and benefits expense were $21,681,000.
The Old Point National Bank Of Phoebus's property, plant and equipment expenses $4,447,000.

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 1.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $1,197,329
Deposits held in domestic offices $1,197,329
Deposits by Individuals, partnerships, and corporations $1,128,759
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $68,479
Deposits by Commercial banks and other depository institutions in U.S. $91
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $167,448
Demand deposits $92,144
Nontransaction accounts $1,029,881
Money market deposit accounts (MMDAs) $739,174
Other savings deposits (excluding MMDAs) $121,588
Total time deposits $169,119
Total time and savings deposits $1,105,185
Noninterest-bearing deposits $441,760
Interest-bearing deposits $755,569
Retail deposits $1,157,406
IRAs and Keogh plan accounts $17,531
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,330,067
Cash & Balances due from depository institutions $177,745
Interest-bearing balances $164,591
Total securities $227,161
Federal funds sold & reverse repurchase $10,425
Net loans and leases $836,949
Loan and leases loss allowance $9,865
Trading account assets $181
Bank premises and fixed assets $32,082
Other real estate owned $871
Goodwill and other intangibles $1,925
All other assets $42,728

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,330,067
Total Liabilities $1,206,139
Total deposits $1,197,329
Interest-bearing deposits $755,569
Deposits held in domestic offices $1,197,329
% insured (estimated) $77
Federal funds purchased and repurchase agreements $4,536
Trading liabilities $0
Other borrowed funds $480
Subordinated debt $0
All other liabilities $3,794

Issued Loan Types

Type Value (in 000's)
Net loans and leases $836,949
Loan and leases loss allowance $9,865
Total loans and leases (domestic) $846,814
All real estate loans $650,697
Real estate loans in domestic offices $650,697
Construction and development loans $58,440
Residential 1-4 family construction $28,095
Other construction, all land development and other land $30,345
Loans secured by nonfarm nonresidential properties $380,885
Nonfarm nonresidential secured by owner-occupied properties $196,695
Commercial real estate & other non-farm, non-residential $184,190
Multifamily residential real estate $19,050
1-4 family residential loans $190,604
Farmland loans $1,718
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $68,690
To non-U.S. addressees $0
Loans to individuals $118,443
Credit card loans $0
Related Plans $1,938
Consumer Auto Loans $85,024
Other loans to individuals $31,481
All other loans & leases $8,983
Loans to foreign governments and official institutions $0
Other loans $4,120
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 $751
Non 1-4 family restructured loans & leases $492
Total loans and leases (foreign) $0

The Old Point National Bank of Phoebus had $836,949,000 of loans outstanding in 2021. $650,697,000 of loans were in real estate loans. $58,440,000 of loans were in development loans. $19,050,000 of loans were in multifamily mortgage loans. $190,604,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $85,024,000 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 242 $51,500 $212,810
Nonfarm, nonresidential loans - <$100k 82 $4,346 $53,000
Nonfarm, nonresidential loans - $100-250k 99 $17,065 $172,374
Nonfarm, nonresidential loans - $250k-1MM 61 $30,089 $493,262
Commercial & Industrial, US addressed loans - <$1MM 606 $49,812 $82,198
Commercial & Industrial, US addressed loans - <$100k 464 $13,537 $29,175
Commercial & Industrial, US addressed loans - $100-250k 91 $15,514 $170,484
Commercial & Industrial, US addressed loans - $250k-1MM 51 $20,761 $407,078
Farmland loans - <$1MM 3 $1,365 $455,000
Farmland loans - $250k-1MM 3 $1,365 $455,000