Piedmont Federal Savings Bank Mortgage Rates, Fees & Info

Winston Salem, NC

LEI: 549300DD6DH8XAGW3A86

Tax ID: 56-0358476

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Piedmont Federal Savings Bank is a smaller bank specializing in Home Purchase and Refi loans. Piedmont Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Winston, Greensboro, North Wilkesboro, Boone, and Charlotte among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Piedmont Federal Savings Bank 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. Piedmont Federal Savings Bank is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.02% 4/21/24
    30 Year Conventional Refi 6.04% 4/21/24
    30 Year Cash-out Refi 6.12% 4/21/24
    15 Year Conventional Purchase 5.52% 4/21/24
    15 Year Conventional Refi 5.55% 4/21/24
    15 Year Cash-out Refi 5.55% 4/21/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Piedmont Federal Savings Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Piedmont Federal Savings Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    402

    Origination Dollar Volume (All Markets)

    $70,920,000

    Employee count

    116 Show all (5) awards

    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
    WINSTON-SALEM, NC (FHA|USDA|VA) 303 $52,395,000 $172,921 $2,622 3.66%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 33 $7,085,000 $214,697 $3,341 3.66%
    North Wilkesboro, NC (FHA|USDA|VA) 39 $5,235,000 $134,231 $2,334 3.55%
    Boone, NC (FHA|USDA|VA) 13 $2,925,000 $225,000 $2,953 3.51%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 4 $1,410,000 $352,500 $4,583 3.44%
    Mount Airy, NC (FHA|USDA|VA) 4 $740,000 $185,000 $3,315 3.63%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 1 $405,000 $405,000 $2,393 4.00%
    Outside of Metro Areas 3 $275,000 $91,667 $1,915 3.38%
    RALEIGH-CARY, NC (FHA|USDA|VA) 1 $235,000 $235,000 $4,189 4.00%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $215,000 $215,000 $4,127 3.50%
    Piedmont Federal Savings Bank's top markets include Winston, Greensboro, North Wilkesboro, Boone, and Charlotte among others.

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

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Piedmont Federal Savings Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    Amerisouth Mortgage Company
    Similarity Rank: 105
    Piedmont Federal Savings Bank
    Similarity Rank: 680
    Southern First Bank
    Similarity Rank: 1008
    American Security Mortgage Corp.
    Similarity Rank: 1702
    Fidelity Bank
    Similarity Rank: 2664
    United Community Bank
    Similarity Rank: 2808
    COASTAL Federal Credit Union
    Similarity Rank: 2924
    MORTGAGE FINANCIAL GROUP, INC.
    Similarity Rank: 3096
    HOMESERVICES LENDING, LLC
    Similarity Rank: 3268
    MID AMERICA MORTGAGE, INC.
    Similarity Rank: 3458

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 402 $70,920,000 $176,418 $2,692 3.64%

    For 2019, Piedmont Federal Savings Bank's most frequently originated type of loan was Conventional, with 402 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 218 $40,840,000 $187,339 $2,852 3.78%
    Refi 79 $14,395,000 $182,215 $2,583 3.43%
    Cash Out Refi 77 $12,205,000 $158,506 $2,584 3.50%
    Home Improvement 20 $2,630,000 $131,500 $2,241 3.58%
    Other 8 $850,000 $106,250 $1,584 3.39%

    For 2019, Piedmont Federal Savings Bank's most frequently cited loan purpose was Home Purchase, with 218 originations. The 2nd most popular reason was Refi, with 79 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 235 $44,885,000 $191,000 $2,995 3.79%
    15 Year 98 $15,870,000 $161,939 $2,347 3.29%
    20 Year 46 $7,810,000 $169,783 $2,292 3.81%
    10 Year 21 $2,185,000 $104,048 $1,853 3.24%
    Other 2 $170,000 $85,000 $1,994 3.75%

    For 2019, Piedmont Federal Savings Bank's most frequently cited loan duration was 30 Year, with 235 originations. The 2nd most popular length was 15 Year, with 98 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 187 $24,995,000 $133,663
    $1k-2k 117 $16,685,000 $142,607
    $2k-3k 64 $15,560,000 $243,125
    $3k-4k 22 $7,570,000 $344,091
    $4k-5k 8 $3,720,000 $465,000
    $5k+ 4 $2,390,000 $597,500

    Piedmont Federal Savings Bank's average total fees were $2,995, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 187 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 304 $53,890,000 $177,270
    4-5% 53 $9,995,000 $188,585
    2.5-3% 42 $6,770,000 $161,190
    <2.5% 3 $265,000 $88,333

    During 2019, Piedmont Federal Savings Bank's average interest rate for loans was 3.79%, while their most frequently originated rate bucket for loans was 3-4%, with 304 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 168 $23,940,000 $142,500 $2,390 3.63%
    $200k-400k 120 $32,030,000 $266,917 $3,549 3.73%
    $100,000 or less 97 $6,495,000 $66,959 $1,671 3.55%
    $400k-600k 15 $7,095,000 $473,000 $5,001 3.60%
    $600k-1MM 2 $1,360,000 $680,000 $8,802 4.00%

    2019 saw Piedmont Federal Savings Bank place emphasis on $100k-200k loans with 168 originations, totaling $23,940,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 95 $20,575,000 $216,579 $3,054 3.67%
    $50k or less 89 $8,485,000 $95,337 $1,958 3.65%
    $50k-75k 76 $10,660,000 $140,263 $2,439 3.67%
    $75k-100k 69 $10,435,000 $151,232 $2,597 3.59%
    $150k-250k 47 $12,305,000 $261,809 $3,508 3.60%
    $250k+ 21 $7,865,000 $374,524 $3,867 3.73%

    Piedmont Federal Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 95 originations. The second most popular income band? $50k or less, with 89 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 157 $29,475,000 $187,739 $2,918 3.65%
    <20% 96 $13,410,000 $139,688 $2,256 3.61%
    30-36% 96 $17,890,000 $186,354 $2,771 3.69%
    39% 16 $2,950,000 $184,375 $2,780 3.55%
    38% 9 $2,005,000 $222,778 $3,132 3.69%
    36% 9 $2,375,000 $263,889 $3,091 3.50%
    37% 8 $1,600,000 $200,000 $2,747 3.81%
    >60% 2 $50,000 $25,000 $1,011 3.31%
    42% 2 $140,000 $70,000 $1,522 4.00%
    47% 1 $115,000 $115,000 $2,886 3.63%
    48% 1 $275,000 $275,000 $4,169 3.50%
    41% 1 $255,000 $255,000 $1,347 3.25%

    Piedmont Federal Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 157 originations. The next most common DTI ratio? <20%, with 96 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 375 $65,955,000 $175,880 $2,697 3.65%
    Not provided 10 $2,150,000 $215,000 $2,866 3.80%
    Asian 5 $1,365,000 $273,000 $3,491 3.73%
    Black 8 $1,120,000 $140,000 $2,099 3.30%
    Other Asian 2 $170,000 $85,000 $2,058 3.44%
    Native Hawaiian or Islander 1 $125,000 $125,000 $2,473 3.00%
    American Indian 1 $35,000 $35,000 $1,432 4.00%

    Approval Rates

    Total approvals of all applications
    86.34%

    Piedmont Federal Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    81.84%

    Piedmont Federal Savings Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 402 $70,920,000 $176,418

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 5 $325,000 $65,000
    Single Family (1-4 Units):Site-Built 397 $70,595,000 $177,821

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 40 $3,060,000 $76,500 $1,751 3.60%
    40-60% 69 $10,945,000 $158,623 $2,583 3.56%
    60-80% 177 $36,165,000 $204,322 $3,008 3.60%
    80-100% 106 $20,450,000 $192,925 $2,722 3.80%
    Under 20% 10 $300,000 $30,000 $1,302 3.51%

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Podium Mortgage Capital LLC Conventional home mortgage Trouble during payment process 3 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Piedmont Federal Savings Bank 1040 Southpark Boulevard Winston Salem, NC 27127 Full Service B&M $84,168
    Piedmont Federal Savings Bank 1399 Blowing Rock Road Boone, NC 28607 Full Service B&M $20,397
    Piedmont Federal Savings Bank 16 West Third Street Winston Salem, NC 27101 Full Service B&M $9,559
    Piedmont Federal Savings Bank 200 Wilkesboro Avenue North Wilkesboro, NC 28659 Full Service B&M $28,846
    Piedmont Federal Savings Bank 201 South Stratford Road Winston Salem, NC 27103 Full Service B&M $178,835
    Piedmont Federal Savings Bank 2095 Peace Haven Road Winston Salem, NC 27106 Full Service B&M $125,681
    Piedmont Federal Savings Bank 3701 Clemmons Rd. Clemmons, NC 27012 Full Service B&M $54,144
    Piedmont Federal Savings Bank 505 Pineview Drive Kernersville, NC 27284 Full Service B&M $104,430
    Piedmont Federal Savings Bank 5189 Northern Quarters Drive Winston Salem, NC 27105 Full Service B&M $49,067

    For 2019, Piedmont Federal Savings Bank had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $28,142
    Net interest income $19,954
    Total noninterest income $1,463
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $95
    Trading account gains and fees $0
    Additional Noninterest Income $1,368
    Pre-tax net operating income $2,349
    Securities gains (or losses, -) $0
    Income before extraordinary items $1,888
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,888
    Minority interest net income $0
    Net income $1,888
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,888

    Piedmont Federal Savings Bank's gross interest income from loans was $28,142,000.
    Piedmont Federal Savings Bank's net interest income from loans was $19,954,000.
    Piedmont Federal Savings Bank's fee based income from loans was $95,000.
    Piedmont Federal Savings Bank's net income from loans was $1,888,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,188
    Provision for credit losses $111
    Total noninterest expense $18,957
    Salaries and employee benefits $12,028
    Premises and equipment expense $2,691
    Additional noninterest expense $4,238
    Applicable income taxes $461
    Net charge-offs $39
    Cash dividends $0

    Piedmont Federal Savings Bank's interest expense for loans was $8,188,000.
    Piedmont Federal Savings Bank's payroll and benefits expense were $12,028,000.
    Piedmont Federal Savings Bank's property, plant and equipment expenses $2,691,000.

    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 $636,831
    Deposits held in domestic offices $636,831
    Deposits by Individuals, partnerships, and corporations $636,828
    Deposits by U.S. Government $2
    Deposits by States and political subdivisions in the U.S. $1
    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 $59,961
    Demand deposits $2,096
    Nontransaction accounts $576,870
    Money market deposit accounts (MMDAs) $111,070
    Other savings deposits (excluding MMDAs) $77,930
    Total time deposits $387,870
    Total time and savings deposits $634,735
    Noninterest-bearing deposits $9,123
    Interest-bearing deposits $627,708
    Retail deposits $561,108
    IRAs and Keogh plan accounts $142,092
    Brokered deposits $10,064
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $871,367
    Cash & Balances due from depository institutions $63,564
    Interest-bearing balances $60,193
    Total securities $256,086
    Federal funds sold & reverse repurchase $0
    Net loans and leases $514,879
    Loan and leases loss allowance $1,035
    Trading account assets $0
    Bank premises and fixed assets $20,105
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $16,733

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $871,367
    Total Liabilities $639,147
    Total deposits $636,831
    Interest-bearing deposits $627,708
    Deposits held in domestic offices $636,831
    % insured (estimated) $92
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $411
    Subordinated debt $0
    All other liabilities $1,905

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $514,879
    Loan and leases loss allowance $1,035
    Total loans and leases (domestic) $515,914
    All real estate loans $515,858
    Real estate loans in domestic offices $515,858
    Construction and development loans $0
    Residential 1-4 family construction $0
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $639
    Nonfarm nonresidential secured by owner-occupied properties $639
    Commercial real estate & other non-farm, non-residential $0
    Multifamily residential real estate $6,208
    1-4 family residential loans $509,011
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $56
    Credit card loans $0
    Related Plans $4
    Consumer Auto Loans $0
    Other loans to individuals $52
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    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 $0
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Piedmont Federal Savings Bank had $514,879,000 of loans outstanding in 2019. $515,858,000 of loans were in real estate loans. $0 of loans were in development loans. $6,208,000 of loans were in multifamily mortgage loans. $509,011,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 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 2 $639 $319,500
    Nonfarm, nonresidential loans - <$100k 1 $10 $10,000
    Nonfarm, nonresidential loans - $250k-1MM 1 $629 $629,000