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

Hampton, VA

LEI: 549300CPWNBJ0UCBZ853

Tax ID: 54-0325370

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Mortgage Data

Bank Data

Review & Overview

The Old Point National Bank Of Phoebus is a smaller bank specializing in Refi and Home Purchase loans. The Old Point National Bank Of Phoebus has a high proportion of conventional loans. Their top markets by origination volume include: Virginia Beach, Kill Devil Hills, Richmond, Lynchburg, and Charlottesville among others. We have data for 7 markets. (Some data included below & more in-depth data is available with an active subscription.)

The Old Point National Bank Of Phoebus 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

130

Origination Dollar Volume (All Markets)

$24,560,000

Employee count

260

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
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 116 $21,400,000 $184,483 $0 0.00%
Outside of Metro Areas 6 $1,340,000 $223,333 $0 0.00%
Kill Devil Hills, NC (FHA|USDA|VA) 2 $790,000 $395,000 $0 0.00%
RICHMOND, VA (FHA|USDA|VA) 3 $625,000 $208,333 $0 0.00%
LYNCHBURG, VA (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 1 $125,000 $125,000 $0 0.00%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $65,000 $65,000 $0 0.00%
The Old Point National Bank Of Phoebus's top markets include Virginia Beach, Kill Devil Hills, Richmond, Lynchburg, and Charlottesville among others.

Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 130 $24,560,000 $188,923 $0 0.00%

    For 2018, The Old Point National Bank Of Phoebus's most frequently originated type of loan was Conventional, with 130 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 47 $8,205,000 $174,574 $0 0.00%
    Home Purchase 34 $10,950,000 $322,059 $0 0.00%
    Home Improvement 24 $1,900,000 $79,167 $0 0.00%
    Other 16 $1,630,000 $101,875 $0 0.00%
    Cash Out Refi 9 $1,875,000 $208,333 $0 0.00%

    For 2018, The Old Point National Bank Of Phoebus's most frequently cited loan purpose was Refi, with 47 originations. The 2nd most popular reason was Home Purchase, with 34 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 130 $24,560,000 $188,923 $0 0.00%

    For 2018, The Old Point National Bank Of Phoebus's most frequently cited loan duration was Other, with 130 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 57 $3,125,000 $54,825 $0 0.00%
    $100k-200k 34 $4,480,000 $131,765 $0 0.00%
    $200k-400k 22 $6,210,000 $282,273 $0 0.00%
    $400k-600k 10 $4,570,000 $457,000 $0 0.00%
    $600k-1MM 6 $4,570,000 $761,667 $0 0.00%
    $1MM+ 1 $1,605,000 $1,605,000 $0 0.00%

    2018 saw The Old Point National Bank Of Phoebus place emphasis on $100,000 or less loans with 57 originations, totaling $3,125,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 21 $3,045,000 $145,000 $0 0.00%
    $75k-100k 21 $2,445,000 $116,429 $0 0.00%
    $50k or less 18 $1,290,000 $71,667 $0 0.00%
    $150k-250k 16 $3,820,000 $238,750 $0 0.00%
    $250k+ 16 $4,020,000 $251,250 $0 0.00%
    $50k-75k 16 $1,880,000 $117,500 $0 0.00%

    The Old Point National Bank Of Phoebus lent most frequently to those with incomes in the $100k-150k range, with 21 originations. The second most popular income band? $75k-100k, with 21 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 130 $24,560,000 $188,923 $0 0.00%

    The Old Point National Bank Of Phoebus lent most frequently to those with DTI ratios of Exempt%, with 130 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 95 $16,485,000 $173,526 $0 0.00%
    Not applicable 20 $7,040,000 $352,000 $0 0.00%
    Not provided 8 $530,000 $66,250 $0 0.00%
    Black 6 $420,000 $70,000 $0 0.00%
    Other Asian 1 $85,000 $85,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.85%

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

    Pick Rate

    Approvals leading to origination
    80.00%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 130 $24,560,000 $188,923

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 9 $6,505,000 $722,778
    Single Family (1-4 Units):Manufactured 4 $600,000 $150,000
    Single Family (1-4 Units):Site-Built 117 $17,455,000 $149,188

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    The Old Point National Bank of Phoebus 1 West Mellen Street Hampton, VA 23663 Full Service B&M $126,920
    The Old Point National Bank of Phoebus 10 South Mallory Street Hampton, VA 23663 Limited, Administrative $0
    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 1000 Cedar Rd Chesapeake, VA 23322 Full Service B&M $0
    The Old Point National Bank of Phoebus 11134 Warwick Boulevard Newport News, VA 23601 Full Service B&M $42,068
    The Old Point National Bank of Phoebus 11407 Windsor Boulevard Windsor, VA 23487 Full Service B&M $40,609
    The Old Point National Bank of Phoebus 11751 Jefferson Avenue Newport News, VA 23606 Full Service B&M $58,615
    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 $17,723
    The Old Point National Bank of Phoebus 13801 Warwick Boulevard Newport News, VA 23602 Full Service B&M $48,648
    The Old Point National Bank of Phoebus 1613 Laskin Road Virginia Beach, VA 23451 Full Service B&M $35,375
    The Old Point National Bank of Phoebus 1812 Granby Street Norfolk, VA 23510 Full Service B&M $19,428
    The Old Point National Bank of Phoebus 201 Kiln Creek Parkway Yorktown, VA 23693 Full Service B&M $37,402
    The Old Point National Bank of Phoebus 2101 Executive Drive Hampton, VA 23666 Full Service B&M $37,292
    The Old Point National Bank of Phoebus 24 Wine Street Hampton, VA 23669 Full Service B&M $99,342
    The Old Point National Bank of Phoebus 347 Woodland Road Hampton, VA 23669 Full Service B&M $47,580
    The Old Point National Bank of Phoebus 351 Independence Boulevard Virginia Beach, VA 23462 Full Service B&M $23,063
    The Old Point National Bank of Phoebus 4030 West Mercury Boulevard Hampton, VA 23666 Full Service B&M $53,931
    The Old Point National Bank of Phoebus 4139 Ironbound Road Williamsburg, VA 23188 Full Service B&M $39,351
    The Old Point National Bank of Phoebus 580 East Main Street Norfolk, VA 23510 Full Service B&M $59,115
    The Old Point National Bank of Phoebus 740 Eden Way North Chesapeake, VA 23320 Full Service B&M $29,695
    The Old Point National Bank of Phoebus 7504 Richmond Road Williamsburg, VA 23188 Full Service B&M $26,142

    For 2018, The Old Point National Bank Of Phoebus had 22 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $38,160
    Net interest income $33,289
    Total noninterest income $8,368
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $4,158
    Trading account gains and fees $0
    Additional Noninterest Income $4,210
    Pre-tax net operating income $5,662
    Securities gains (or losses, -) $90
    Income before extraordinary items $5,496
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,496
    Minority interest net income $0
    Net income $5,496
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,409

    The Old Point National Bank Of Phoebus's gross interest income from loans was $38,160,000.
    The Old Point National Bank Of Phoebus's net interest income from loans was $33,289,000.
    The Old Point National Bank Of Phoebus's fee based income from loans was $4,158,000.
    The Old Point National Bank Of Phoebus's net income from loans was $5,496,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,871
    Provision for credit losses $2,861
    Total noninterest expense $33,134
    Salaries and employee benefits $19,150
    Premises and equipment expense $5,781
    Additional noninterest expense $8,203
    Applicable income taxes $256
    Net charge-offs $2,198
    Cash dividends $1,800

    The Old Point National Bank Of Phoebus's interest expense for loans was $4,871,000.
    The Old Point National Bank Of Phoebus's payroll and benefits expense were $19,150,000.
    The Old Point National Bank Of Phoebus's property, plant and equipment expenses $5,781,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 1.0%
    Nonfarm, nonresidential loans 3.0%
    Multifamily residential loans 0.0%
    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 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 $844,945
    Deposits held in domestic offices $844,945
    Deposits by Individuals, partnerships, and corporations $767,398
    Deposits by U.S. Government $4
    Deposits by States and political subdivisions in the U.S. $59,085
    Deposits by Commercial banks and other depository institutions in U.S. $18,458
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $92,482
    Demand deposits $62,205
    Nontransaction accounts $752,463
    Money market deposit accounts (MMDAs) $436,044
    Other savings deposits (excluding MMDAs) $87,455
    Total time deposits $228,964
    Total time and savings deposits $782,740
    Noninterest-bearing deposits $248,066
    Interest-bearing deposits $596,879
    Retail deposits $801,551
    IRAs and Keogh plan accounts $20,576
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,032,676
    Cash & Balances due from depository institutions $39,915
    Interest-bearing balances $20,000
    Total securities $143,166
    Federal funds sold & reverse repurchase $2,302
    Net loans and leases $764,377
    Loan and leases loss allowance $10,111
    Trading account assets $0
    Bank premises and fixed assets $36,720
    Other real estate owned $83
    Goodwill and other intangibles $2,057
    All other assets $44,056

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,032,676
    Total Liabilities $935,592
    Total deposits $844,945
    Interest-bearing deposits $596,879
    Deposits held in domestic offices $844,945
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $26,250
    Trading liabilities $0
    Other borrowed funds $60,000
    Subordinated debt $0
    All other liabilities $4,397

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $764,377
    Loan and leases loss allowance $10,111
    Total loans and leases (domestic) $774,488
    All real estate loans $533,881
    Real estate loans in domestic offices $533,881
    Construction and development loans $31,632
    Residential 1-4 family construction $22,285
    Other construction, all land development and other land $9,347
    Loans secured by nonfarm nonresidential properties $286,735
    Nonfarm nonresidential secured by owner-occupied properties $154,607
    Commercial real estate & other non-farm, non-residential $132,128
    Multifamily residential real estate $28,964
    1-4 family residential loans $185,636
    Farmland loans $914
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $65,125
    To non-U.S. addressees $0
    Loans to individuals $164,082
    Credit card loans $0
    Related Plans $2,349
    Consumer Auto Loans $120,796
    Other loans to individuals $40,937
    All other loans & leases $11,400
    Loans to foreign governments and official institutions $0
    Other loans $3,167
    Loans to depository institutions and acceptances of other banks $2,750
    Loans not secured by real estate $6,503
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,446
    Non 1-4 family restructured loans & leases $602
    Total loans and leases (foreign) $0

    The Old Point National Bank of Phoebus had $764,377,000 of loans outstanding in 2018. $533,881,000 of loans were in real estate loans. $31,632,000 of loans were in development loans. $28,964,000 of loans were in multifamily mortgage loans. $185,636,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $120,796,000 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 389 $102,262 $262,884
    Nonfarm, nonresidential loans - <$100k 49 $2,308 $47,102
    Nonfarm, nonresidential loans - $100-250k 137 $17,062 $124,540
    Nonfarm, nonresidential loans - $250k-1MM 203 $82,892 $408,335
    Commercial & Industrial, US addressed loans - <$1MM 433 $46,149 $106,580
    Commercial & Industrial, US addressed loans - <$100k 260 $8,231 $31,658
    Commercial & Industrial, US addressed loans - $100-250k 87 $10,309 $118,494
    Commercial & Industrial, US addressed loans - $250k-1MM 86 $27,609 $321,035
    Farmland loans - <$1MM 5 $914 $182,800
    Farmland loans - <$100k 1 $31 $31,000
    Farmland loans - $100-250k 2 $194 $97,000
    Farmland loans - $250k-1MM 2 $689 $344,500