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. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) Their top markets by origination volume include: Virginia Beach, Charlotte, Kill Devil Hills, Richmond, and Hickory among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

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

367

Origination Dollar Volume (All Markets)

$104,835,000

Employee count

243

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) 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.

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

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

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

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. 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 2021, The Old Point National Bank Of Phoebus's most frequently cited loan purpose was Home Purchase, with 145 originations. The 2nd most popular reason was 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 2021, The Old Point National Bank Of Phoebus's most frequently cited loan duration was 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 or Islander 1 $405,000 $405,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.22%

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

    Pick Rate

    Approvals leading to origination
    85.56%

    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 1 West Mellen Street Hampton, VA 23663 Full Service B&M $161,242
    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 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
    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

    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