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 Home Purchase, Refi, and Cash Out Refi loans. The Old Point National Bank Of Phoebus has a high proportion of conventional loans. Their top two markets are Virginia Beach and Richmond .

The Old Point National Bank Of Phoebus has an above 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

123

Origination Dollar Volume (All Markets)

$29,855,000

Employee count

265

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) 120 $29,300,000 $244,167 $0 0.00%
RICHMOND, VA (FHA|USDA|VA) 2 $320,000 $160,000 $0 0.00%
Outside of Metro Areas 1 $235,000 $235,000 $0 0.00%
The Old Point National Bank Of Phoebus's top markets include Virginia Beach and Richmond 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 123 $29,855,000 $242,724 $0 0.00%

    For 2019, The Old Point National Bank Of Phoebus's most frequently originated type of loan was Conventional, with 123 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 47 $12,305,000 $261,809 $0 0.00%
    Refi 39 $8,525,000 $218,590 $0 0.00%
    Cash Out Refi 14 $6,150,000 $439,286 $0 0.00%
    Home Improvement 13 $1,785,000 $137,308 $0 0.00%
    Other 10 $1,090,000 $109,000 $0 0.00%

    For 2019, The Old Point National Bank Of Phoebus's most frequently cited loan purpose was Home Purchase, with 47 originations. The 2nd most popular reason was Refi, with 39 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 123 $29,855,000 $242,724 $0 0.00%

    For 2019, The Old Point National Bank Of Phoebus's most frequently cited loan duration was Other, with 123 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $2,895,000 $61,596 $0 0.00%
    $100k-200k 27 $3,795,000 $140,556 $0 0.00%
    $200k-400k 25 $7,415,000 $296,600 $0 0.00%
    $600k-1MM 12 $8,980,000 $748,333 $0 0.00%
    $400k-600k 11 $5,705,000 $518,636 $0 0.00%
    $1MM+ 1 $1,065,000 $1,065,000 $0 0.00%

    2019 saw The Old Point National Bank Of Phoebus place emphasis on $100,000 or less loans with 47 originations, totaling $2,895,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 25 $7,325,000 $293,000 $0 0.00%
    $250k+ 23 $10,395,000 $451,957 $0 0.00%
    $50k-75k 18 $1,990,000 $110,556 $0 0.00%
    $100k-150k 16 $4,180,000 $261,250 $0 0.00%
    $75k-100k 15 $1,875,000 $125,000 $0 0.00%
    $50k or less 14 $1,340,000 $95,714 $0 0.00%

    The Old Point National Bank Of Phoebus lent most frequently to those with incomes in the $150k-250k range, with 25 originations. The second most popular income band? $250k+, with 23 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 123 $29,855,000 $242,724 $0 0.00%

    The Old Point National Bank Of Phoebus lent most frequently to those with DTI ratios of Exempt%, with 123 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 98 $24,520,000 $250,204 $0 0.00%
    Not provided 8 $2,310,000 $288,750 $0 0.00%
    Not applicable 8 $2,090,000 $261,250 $0 0.00%
    Black 8 $840,000 $105,000 $0 0.00%
    Asian 1 $95,000 $95,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.63%

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

    Pick Rate

    Approvals leading to origination
    82.11%

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

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 123 $29,855,000 $242,724

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 1 $505,000 $505,000
    Single Family (1-4 Units):Manufactured 2 $220,000 $110,000
    Single Family (1-4 Units):Site-Built 120 $29,130,000 $242,750

    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 $122,804
    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 $44,853
    The Old Point National Bank of Phoebus 11407 Windsor Boulevard Windsor, VA 23487 Full Service B&M $35,981
    The Old Point National Bank of Phoebus 11751 Jefferson Avenue Newport News, VA 23606 Full Service B&M $53,860
    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 $20,575
    The Old Point National Bank of Phoebus 13801 Warwick Boulevard Newport News, VA 23602 Full Service B&M $48,456
    The Old Point National Bank of Phoebus 1613 Laskin Road Virginia Beach, VA 23451 Full Service B&M $40,913
    The Old Point National Bank of Phoebus 1812 Granby Street Norfolk, VA 23510 Full Service B&M $16,588
    The Old Point National Bank of Phoebus 201 Kiln Creek Parkway Yorktown, VA 23693 Full Service B&M $37,563
    The Old Point National Bank of Phoebus 2101 Executive Drive Hampton, VA 23666 Full Service B&M $35,042
    The Old Point National Bank of Phoebus 24 Wine Street Hampton, VA 23669 Full Service B&M $101,631
    The Old Point National Bank of Phoebus 347 Woodland Road Hampton, VA 23669 Full Service B&M $51,482
    The Old Point National Bank of Phoebus 351 Independence Boulevard Virginia Beach, VA 23462 Full Service B&M $22,278
    The Old Point National Bank of Phoebus 4030 West Mercury Boulevard Hampton, VA 23666 Full Service B&M $53,560
    The Old Point National Bank of Phoebus 4139 Ironbound Road Williamsburg, VA 23188 Full Service B&M $38,440
    The Old Point National Bank of Phoebus 580 East Main Street Norfolk, VA 23510 Full Service B&M $63,982
    The Old Point National Bank of Phoebus 740 Eden Way North Chesapeake, VA 23320 Full Service B&M $35,399
    The Old Point National Bank of Phoebus 7504 Richmond Road Williamsburg, VA 23188 Full Service B&M $26,198

    For 2019, The Old Point National Bank Of Phoebus had 22 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $40,121
    Net interest income $33,810
    Total noninterest income $8,866
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $4,085
    Trading account gains and fees $0
    Additional Noninterest Income $4,781
    Pre-tax net operating income $8,525
    Securities gains (or losses, -) $314
    Income before extraordinary items $7,785
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $7,785
    Minority interest net income $0
    Net income $7,785
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $7,508

    The Old Point National Bank Of Phoebus's gross interest income from loans was $40,121,000.
    The Old Point National Bank Of Phoebus's net interest income from loans was $33,810,000.
    The Old Point National Bank Of Phoebus's fee based income from loans was $4,085,000.
    The Old Point National Bank Of Phoebus's net income from loans was $7,785,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $6,311
    Provision for credit losses $318
    Total noninterest expense $33,833
    Salaries and employee benefits $20,405
    Premises and equipment expense $5,400
    Additional noninterest expense $8,028
    Applicable income taxes $1,054
    Net charge-offs $769
    Cash dividends $3,000

    The Old Point National Bank Of Phoebus's interest expense for loans was $6,311,000.
    The Old Point National Bank Of Phoebus's payroll and benefits expense were $20,405,000.
    The Old Point National Bank Of Phoebus's property, plant and equipment expenses $5,400,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 1.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    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 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $891,567
    Deposits held in domestic offices $891,567
    Deposits by Individuals, partnerships, and corporations $812,739
    Deposits by U.S. Government $3
    Deposits by States and political subdivisions in the U.S. $65,265
    Deposits by Commercial banks and other depository institutions in U.S. $13,560
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $97,010
    Demand deposits $54,846
    Nontransaction accounts $794,557
    Money market deposit accounts (MMDAs) $481,118
    Other savings deposits (excluding MMDAs) $85,521
    Total time deposits $227,918
    Total time and savings deposits $836,721
    Noninterest-bearing deposits $264,407
    Interest-bearing deposits $627,160
    Retail deposits $847,063
    IRAs and Keogh plan accounts $19,288
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,048,158
    Cash & Balances due from depository institutions $86,412
    Interest-bearing balances $49,131
    Total securities $139,369
    Federal funds sold & reverse repurchase $3,975
    Net loans and leases $738,795
    Loan and leases loss allowance $9,660
    Trading account assets $0
    Bank premises and fixed assets $35,283
    Other real estate owned $0
    Goodwill and other intangibles $2,013
    All other assets $42,311

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,048,158
    Total Liabilities $944,224
    Total deposits $891,567
    Interest-bearing deposits $627,160
    Deposits held in domestic offices $891,567
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $11,452
    Trading liabilities $0
    Other borrowed funds $37,437
    Subordinated debt $0
    All other liabilities $3,768

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $738,795
    Loan and leases loss allowance $9,660
    Total loans and leases (domestic) $748,455
    All real estate loans $529,501
    Real estate loans in domestic offices $529,501
    Construction and development loans $40,716
    Residential 1-4 family construction $15,379
    Other construction, all land development and other land $25,337
    Loans secured by nonfarm nonresidential properties $276,495
    Nonfarm nonresidential secured by owner-occupied properties $140,696
    Commercial real estate & other non-farm, non-residential $135,799
    Multifamily residential real estate $25,865
    1-4 family residential loans $185,378
    Farmland loans $1,047
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $72,631
    To non-U.S. addressees $0
    Loans to individuals $137,007
    Credit card loans $0
    Related Plans $2,800
    Consumer Auto Loans $97,294
    Other loans to individuals $36,913
    All other loans & leases $9,316
    Loans to foreign governments and official institutions $0
    Other loans $1,476
    Loans to depository institutions and acceptances of other banks $2,751
    Loans not secured by real estate $4,911
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $850
    Non 1-4 family restructured loans & leases $560
    Total loans and leases (foreign) $0

    The Old Point National Bank of Phoebus had $738,795,000 of loans outstanding in 2019. $529,501,000 of loans were in real estate loans. $40,716,000 of loans were in development loans. $25,865,000 of loans were in multifamily mortgage loans. $185,378,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $97,294,000 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 378 $100,261 $265,241
    Nonfarm, nonresidential loans - <$100k 42 $1,734 $41,286
    Nonfarm, nonresidential loans - $100-250k 129 $16,028 $124,248
    Nonfarm, nonresidential loans - $250k-1MM 207 $82,499 $398,546
    Commercial & Industrial, US addressed loans - <$1MM 482 $44,917 $93,189
    Commercial & Industrial, US addressed loans - <$100k 314 $8,023 $25,551
    Commercial & Industrial, US addressed loans - $100-250k 80 $8,568 $107,100
    Commercial & Industrial, US addressed loans - $250k-1MM 88 $28,326 $321,886
    Farmland loans - <$1MM 4 $1,047 $261,750
    Farmland loans - <$100k 1 $92 $92,000
    Farmland loans - $100-250k 1 $144 $144,000
    Farmland loans - $250k-1MM 2 $811 $405,500