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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    • 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 Cash Out Refi, Refi, and Home Purchase loans. Piedmont Federal Savings Bank has a high proportion of conventional loans. Their top markets by origination volume include: Winston, Greensboro, North Wilkesboro, Myrtle Beach, and Boone among others. We have data for 13 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% 4/18/24
    30 Year Conventional Refi 6.04% 4/18/24
    30 Year Cash-out Refi 6.12% 4/18/24
    15 Year Conventional Purchase 5.52% 4/18/24
    15 Year Conventional Refi 5.55% 4/18/24
    15 Year Cash-out Refi 5.55% 4/18/24
    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

    556

    Origination Dollar Volume (All Markets)

    $126,100,000

    Employee count

    125 Show all (6) 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) 389 $84,045,000 $216,054 $3,055 2.78%
    GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 61 $14,885,000 $244,016 $3,594 2.71%
    North Wilkesboro, NC (FHA|USDA|VA) 49 $8,895,000 $181,531 $3,406 2.67%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 6 $3,790,000 $631,667 $6,244 2.85%
    Boone, NC (FHA|USDA|VA) 13 $2,825,000 $217,308 $3,503 2.67%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 8 $2,620,000 $327,500 $3,657 2.94%
    Outside of Metro Areas 12 $2,490,000 $207,500 $3,125 2.82%
    RALEIGH-CARY, NC (FHA|USDA|VA) 2 $1,540,000 $770,000 $2,899 2.75%
    ASHEVILLE, NC (FHA|USDA|VA) 2 $1,520,000 $760,000 $11,264 3.00%
    Mount Airy, NC (FHA|USDA|VA) 4 $1,350,000 $337,500 $4,918 3.00%
    HICKORY-LENOIR-MORGANTON, NC (FHA|USDA|VA) 5 $1,175,000 $235,000 $4,431 2.70%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 4 $860,000 $215,000 $2,857 2.88%
    GREENVILLE, NC (FHA|USDA|VA) 1 $105,000 $105,000 $2,166 3.13%
    Piedmont Federal Savings Bank's top markets include Winston, Greensboro, North Wilkesboro, Myrtle Beach, and Boone among others.

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

    First Community Bank
    Similarity Rank: 410
    Piedmont Federal Savings Bank
    Similarity Rank: 1014
    Uwharrie Bank
    Similarity Rank: 1410
    American National Bank and Trust Company
    Similarity Rank: 2112
    FirstBank
    Similarity Rank: 2136
    Corporate Investors Mortgage Group, Inc.
    Similarity Rank: 2701
    Bank of Tennessee
    Similarity Rank: 2750
    SHARONVIEW FEDERAL CREDIT UNION
    Similarity Rank: 3496
    United Community Bank
    Similarity Rank: 4598
    CAPITAL CENTER, L.L.C.
    Similarity Rank: 4752

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 556 $126,100,000 $226,799 $3,247 2.77%

    For 2021, Piedmont Federal Savings Bank's most frequently originated type of loan was Conventional, with 556 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Cash Out Refi 184 $37,270,000 $202,554 $3,109 2.76%
    Refi 177 $34,845,000 $196,864 $3,005 2.63%
    Home Purchase 173 $47,595,000 $275,116 $3,620 2.92%
    Other 14 $5,140,000 $367,143 $3,866 2.77%
    Home Improvement 8 $1,250,000 $156,250 $2,920 2.88%

    For 2021, Piedmont Federal Savings Bank's most frequently cited loan purpose was Cash Out Refi, with 184 originations. The 2nd most popular reason was Refi, with 177 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 267 $61,165,000 $229,082 $3,188 2.98%
    15 Year 183 $34,885,000 $190,628 $2,973 2.43%
    20 Year 51 $10,015,000 $196,373 $2,847 2.82%
    10 Year 22 $7,220,000 $328,182 $2,333 2.63%
    30+ year 19 $8,485,000 $446,579 $7,702 3.02%
    Other 12 $3,180,000 $265,000 $5,304 2.83%
    3 Year 1 $985,000 $985,000 $0 2.88%
    5 Year 1 $165,000 $165,000 $0 4.35%

    For 2021, Piedmont Federal Savings Bank's most frequently cited loan duration was 30 Year, with 267 originations. The 2nd most popular length was 15 Year, with 183 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 236 $43,880,000 $185,932
    $1k-2k 164 $24,310,000 $148,232
    $2k-3k 79 $19,755,000 $250,063
    $3k-4k 35 $12,245,000 $349,857
    $5k+ 18 $12,180,000 $676,667
    $4k-5k 16 $7,310,000 $456,875

    Piedmont Federal Savings Bank's average total fees were $3,188, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 236 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    2.5-3% 258 $57,990,000 $224,767
    <2.5% 196 $39,610,000 $202,092
    3-4% 101 $28,335,000 $280,545
    4-5% 1 $165,000 $165,000

    During 2021, Piedmont Federal Savings Bank's average interest rate for loans was 2.98%, while their most frequently originated rate bucket for loans was 2.5-3%, with 258 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 231 $33,695,000 $145,866 $2,598 2.72%
    $200k-400k 197 $52,815,000 $268,096 $3,528 2.84%
    $100,000 or less 72 $5,430,000 $75,417 $2,020 2.67%
    $400k-600k 37 $17,605,000 $475,811 $5,836 2.81%
    $600k-1MM 16 $11,320,000 $707,500 $8,207 2.82%
    $1MM+ 3 $5,235,000 $1,745,000 $20,433 3.31%

    2021 saw Piedmont Federal Savings Bank place emphasis on $100k-200k loans with 231 originations, totaling $33,695,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 132 $30,590,000 $231,742 $3,509 2.77%
    $50k-75k 105 $15,945,000 $151,857 $2,600 2.76%
    $50k or less 96 $12,240,000 $127,500 $2,277 2.79%
    $150k-250k 90 $26,790,000 $297,667 $3,752 2.73%
    $75k-100k 89 $18,165,000 $204,101 $2,972 2.75%
    $250k+ 37 $17,515,000 $473,378 $6,223 2.74%

    Piedmont Federal Savings Bank lent most frequently to those with incomes in the $100k-150k range, with 132 originations. The second most popular income band? $50k-75k, with 105 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 193 $44,345,000 $229,767 $3,303 2.74%
    <20% 128 $25,050,000 $195,703 $3,095 2.74%
    30-36% 118 $25,860,000 $219,153 $3,385 2.76%
    38% 32 $7,090,000 $221,563 $3,497 2.75%
    39% 26 $6,380,000 $245,385 $3,348 2.92%
    37% 17 $3,885,000 $228,529 $2,831 2.88%
    40% 17 $3,635,000 $213,824 $1,814 2.66%
    36% 15 $3,825,000 $255,000 $4,062 2.83%
    42% 3 $1,195,000 $398,333 $3,998 3.13%
    41% 1 $105,000 $105,000 $1,758 3.38%

    Piedmont Federal Savings Bank lent most frequently to those with DTI ratios of 20-30%, with 193 originations. The next most common DTI ratio? <20%, with 128 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 487 $108,915,000 $223,645 $3,259 2.77%
    Not provided 39 $8,455,000 $216,795 $3,345 2.76%
    Not applicable 7 $4,875,000 $696,429 $2,859 3.39%
    Black 19 $3,165,000 $166,579 $2,734 2.46%
    American Indian 2 $300,000 $150,000 $3,113 2.94%
    Asian 1 $255,000 $255,000 $4,369 2.75%
    Asian Indian 1 $135,000 $135,000 $2,986 2.63%

    Approval Rates

    Total approvals of all applications
    88.05%

    Piedmont Federal Savings Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    86.69%

    Piedmont Federal Savings Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 556 $126,100,000 $226,799

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    556 $126,100,000 $226,799

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 70 $9,940,000 $142,000 $2,633 2.62%
    40-60% 148 $26,300,000 $177,703 $2,778 2.66%
    60-80% 235 $58,105,000 $247,255 $3,666 2.80%
    80-100% 97 $31,175,000 $321,392 $3,482 2.97%
    Under 20% 6 $580,000 $96,667 $1,866 2.96%

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    Podium Mortgage Capital LLC Conventional home mortgage Struggling to pay mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Piedmont Federal Savings Bank 1399 Blowing Rock Road Boone, NC 28607 Full Service B&M $23,693
    Piedmont Federal Savings Bank 1040 Southpark Boulevard Winston Salem, NC 27127 Full Service B&M $86,333
    Piedmont Federal Savings Bank 16 West Third Street Winston Salem, NC 27101 Full Service B&M $8,372
    Piedmont Federal Savings Bank 200 Wilkesboro Avenue North Wilkesboro, NC 28659 Full Service B&M $37,737
    Piedmont Federal Savings Bank 201 South Stratford Road Winston Salem, NC 27103 Full Service B&M $177,190
    Piedmont Federal Savings Bank 2095 Peace Haven Road Winston Salem, NC 27106 Full Service B&M $126,239
    Piedmont Federal Savings Bank 3701 Clemmons Rd. Clemmons, NC 27012 Full Service B&M $66,484
    Piedmont Federal Savings Bank 3870 John Gordon Lane High Point, NC 27265 Full Service B&M $10,743
    Piedmont Federal Savings Bank 505 Pineview Drive Kernersville, NC 27284 Full Service B&M $122,311
    Piedmont Federal Savings Bank 5189 Northern Quarters Drive Winston Salem, NC 27105 Full Service B&M $53,320

    For 2021, Piedmont Federal Savings Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $26,010
    Net interest income $21,339
    Total noninterest income $1,260
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $76
    Trading account gains and fees $0
    Additional Noninterest Income $1,184
    Pre-tax net operating income $2,085
    Securities gains (or losses, -) $42
    Income before extraordinary items $1,914
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $1,914
    Minority interest net income $0
    Net income $1,914
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $1,876

    Piedmont Federal Savings Bank's gross interest income from loans was $26,010,000.
    Piedmont Federal Savings Bank's net interest income from loans was $21,339,000.
    Piedmont Federal Savings Bank's fee based income from loans was $76,000.
    Piedmont Federal Savings Bank's net income from loans was $1,914,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,671
    Provision for credit losses $335
    Total noninterest expense $20,179
    Salaries and employee benefits $12,895
    Premises and equipment expense $2,784
    Additional noninterest expense $4,500
    Applicable income taxes $213
    Net charge-offs $10
    Cash dividends $0

    Piedmont Federal Savings Bank's interest expense for loans was $4,671,000.
    Piedmont Federal Savings Bank's payroll and benefits expense were $12,895,000.
    Piedmont Federal Savings Bank's property, plant and equipment expenses $2,784,000.

    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 2.0%
    Credit card loans 0.0%
    Other individual loans 2.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $718,031
    Deposits held in domestic offices $718,031
    Deposits by Individuals, partnerships, and corporations $718,031
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    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 $88,118
    Demand deposits $2,124
    Nontransaction accounts $629,913
    Money market deposit accounts (MMDAs) $177,055
    Other savings deposits (excluding MMDAs) $100,795
    Total time deposits $352,063
    Total time and savings deposits $715,907
    Noninterest-bearing deposits $6,131
    Interest-bearing deposits $711,900
    Retail deposits $648,271
    IRAs and Keogh plan accounts $77,894
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $965,986
    Cash & Balances due from depository institutions $33,745
    Interest-bearing balances $31,735
    Total securities $259,521
    Federal funds sold & reverse repurchase $0
    Net loans and leases $614,658
    Loan and leases loss allowance $1,850
    Trading account assets $0
    Bank premises and fixed assets $18,743
    Other real estate owned $0
    Goodwill and other intangibles $0
    All other assets $39,319

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $965,986
    Total Liabilities $732,873
    Total deposits $718,031
    Interest-bearing deposits $711,900
    Deposits held in domestic offices $718,031
    % insured (estimated) $89
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $10,303
    Subordinated debt $0
    All other liabilities $4,539

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $614,658
    Loan and leases loss allowance $1,850
    Total loans and leases (domestic) $616,508
    All real estate loans $602,601
    Real estate loans in domestic offices $602,601
    Construction and development loans $1,182
    Residential 1-4 family construction $948
    Other construction, all land development and other land $234
    Loans secured by nonfarm nonresidential properties $78,992
    Nonfarm nonresidential secured by owner-occupied properties $12,664
    Commercial real estate & other non-farm, non-residential $66,328
    Multifamily residential real estate $8,936
    1-4 family residential loans $513,491
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $13,857
    To non-U.S. addressees $0
    Loans to individuals $50
    Credit card loans $0
    Related Plans $50
    Consumer Auto Loans $0
    Other loans to individuals $0
    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 $205
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Piedmont Federal Savings Bank had $614,658,000 of loans outstanding in 2021. $602,601,000 of loans were in real estate loans. $1,182,000 of loans were in development loans. $8,936,000 of loans were in multifamily mortgage loans. $513,491,000 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 32 $12,146 $379,563
    Nonfarm, nonresidential loans - <$100k 7 $313 $44,714
    Nonfarm, nonresidential loans - $100-250k 7 $1,028 $146,857
    Nonfarm, nonresidential loans - $250k-1MM 18 $10,805 $600,278
    Commercial & Industrial, US addressed loans - <$1MM 81 $10,432 $128,790
    Commercial & Industrial, US addressed loans - <$100k 47 $1,709 $36,362
    Commercial & Industrial, US addressed loans - $100-250k 20 $3,118 $155,900
    Commercial & Industrial, US addressed loans - $250k-1MM 14 $5,605 $400,357