Sonabank Mortgage Rates, Fees & Info

Tappahannock, VA

LEI: 549300GCUYVW860UOZ07

Tax ID: 20-2453966

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • 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

    Sonabank is a smaller bank specializing in Refi and Home Purchase loans. Sonabank has a high proportion of conventional loans. Their top markets by origination volume include: Richmond, Virginia Beach, Philadelphia, Washington, and Baltimore among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Sonabank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.

    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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    Originations

    180

    Origination Dollar Volume (All Markets)

    $40,680,000

    Employee count

    418

    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
    RICHMOND, VA (FHA|USDA|VA) 58 $9,400,000 $162,069 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 47 $7,715,000 $164,149 $0 0.00%
    Outside of Metro Areas 39 $7,335,000 $188,077 $0 0.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $6,785,000 $2,261,667 $0 0.00%
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 15 $4,765,000 $317,667 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 6 $2,000,000 $333,333 $0 0.00%
    CHARLOTTESVILLE, VA (FHA|USDA|VA) 6 $1,340,000 $223,333 $0 0.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 4 $840,000 $210,000 $0 0.00%
    ROANOKE, VA (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
    ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    Sonabank's top markets include Richmond, Virginia Beach, Philadelphia, Washington, and Baltimore among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Georgia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 180 $40,680,000 $226,000 $0 0.00%

    For 2021, Sonabank's most frequently originated type of loan was Conventional, with 180 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 64 $13,000,000 $203,125 $0 0.00%
    Home Purchase 63 $20,695,000 $328,492 $0 0.00%
    Other 36 $4,710,000 $130,833 $0 0.00%
    Home Improvement 17 $2,275,000 $133,824 $0 0.00%

    For 2021, Sonabank's most frequently cited loan purpose was Refi, with 64 originations. The 2nd most popular reason was Home Purchase, with 63 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 180 $40,680,000 $226,000 $0 0.00%

    For 2021, Sonabank's most frequently cited loan duration was Other, with 180 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100k-200k 63 $8,725,000 $138,492 $0 0.00%
    $100,000 or less 61 $3,595,000 $58,934 $0 0.00%
    $200k-400k 39 $10,275,000 $263,462 $0 0.00%
    $400k-600k 8 $3,620,000 $452,500 $0 0.00%
    $1MM+ 5 $11,725,000 $2,345,000 $0 0.00%
    $600k-1MM 4 $2,740,000 $685,000 $0 0.00%

    2021 saw Sonabank place emphasis on $100k-200k loans with 63 originations, totaling $8,725,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 23 $2,745,000 $119,348 $0 0.00%
    $250k+ 20 $4,720,000 $236,000 $0 0.00%
    $50k or less 19 $1,885,000 $99,211 $0 0.00%
    $75k-100k 15 $1,735,000 $115,667 $0 0.00%
    $150k-250k 14 $1,470,000 $105,000 $0 0.00%
    $50k-75k 8 $1,140,000 $142,500 $0 0.00%

    Sonabank lent most frequently to those with incomes in the $100k-150k range, with 23 originations. The second most popular income band? $250k+, with 20 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 180 $40,680,000 $226,000 $0 0.00%

    Sonabank lent most frequently to those with DTI ratios of Exempt%, with 180 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 80 $26,730,000 $334,125 $0 0.00%
    White 77 $10,395,000 $135,000 $0 0.00%
    Not provided 18 $2,980,000 $165,556 $0 0.00%
    Black 5 $575,000 $115,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.40%

    Sonabank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    93.33%

    Sonabank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 180 $40,680,000 $226,000

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    180 $40,680,000 $226,000

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    snapfi, inc. FHA mortgage Closing on a mortgage 1 100.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Primis Bank 1770 Timberwood Boulevard, Suite 100 Charlottesville, VA 22911 Full Service B&M $34,957
    Primis Bank 511 Main Street Clifton Forge, VA 24422 Full Service B&M $36,511
    Primis Bank 1 East Market Street Leesburg, VA 20176 Full Service B&M $30,932
    Primis Bank 1 South Royal Avenue Front Royal, VA 22630 Full Service B&M $40,227
    Primis Bank 10 West Washington Street Middleburg, VA 20118 Full Service B&M $34,544
    Primis Bank 10855 Fairfax Boulevard Fairfax, VA 22030 Full Service B&M $50,906
    Primis Bank 10900 Nuckols Rd Glen Allen, VA 23060 Limited, Administrative $0
    Primis Bank 110 Northumberland Highway Callao, VA 22435 Full Service B&M $51,738
    Primis Bank 11290 General Puller Highway Hartfield, VA 23071 Full Service B&M $57,940
    Primis Bank 11527 Sunrise Valley Drive Reston, VA 20191 Full Service B&M $54,769
    Primis Bank 11801 Merchants Walk Newport News, VA 23606 Full Service B&M $78,036
    Primis Bank 11834 Rockville Pike Rockville, MD 20852 Full Service B&M $116,871
    Primis Bank 11a Main Street Warrenton, VA 20186 Full Service B&M $39,353
    Primis Bank 137 East Chesapeake Beach Road Owings, MD 20736 Full Service B&M $32,750
    Primis Bank 13804 Hull Street Midlothian, VA 23112 Full Service B&M $30,409
    Primis Bank 14118 Brandywine Rd Brandywine, MD 20613 Full Service B&M $19,868
    Primis Bank 1430 Building 12 High Street Williamsburg, VA 23185 Full Service B&M $34,091
    Primis Bank 14804 Pratt Street Upper Marlboro, MD 20772 Full Service B&M $76,644
    Primis Bank 14954 Northumberland Highway Burgess, VA 22432 Full Service B&M $47,313
    Primis Bank 16273 General Puller Highway Deltaville, VA 23043 Full Service B&M $25,409
    Primis Bank 1665 Tappahannock Boulevard Tappahannock, VA 22560 Full Service B&M $38,576
    Primis Bank 176 Colonial Trail, East Surry, VA 23883 Full Service B&M $33,187
    Primis Bank 1953 George Washington Memorial Highway And State Route 1205 Gloucester Point, VA 23062 Full Service B&M $36,823
    Primis Bank 20 Commerce Lane King William, VA 23086 Full Service B&M $80,289
    Primis Bank 201 North Washington Hwy. Ashland, VA 23005 Full Service B&M $70,566
    Primis Bank 209 West Main Street Waverly, VA 23890 Full Service B&M $55,156
    Primis Bank 2198 Coliseum Drive Hampton, VA 23669 Full Service B&M $28,933
    Primis Bank 22241 Main Street Courtland, VA 23837 Full Service B&M $45,985
    Primis Bank 22510 Linden Street Courtland, VA 23837 Limited, Drive-thru $0
    Primis Bank 233 South County Drive Waverly, VA 23890 Limited, Drive-thru $0
    Primis Bank 291 Virginia Street Urbanna, VA 23175 Full Service B&M $51,657
    Primis Bank 307 Church Lane Tappahannock, VA 22560 Full Service B&M $538,743
    Primis Bank 3300 New Kent Highway Suite E Quinton, VA 23141 Full Service Retail $36,563
    Primis Bank 3400 Boulevard Colonial Heights, VA 23834 Full Service B&M $136,378
    Primis Bank 350 East Hundred Road Chester, VA 23836 Full Service B&M $59,096
    Primis Bank 437 North Main Street Kilmarnock, VA 22482 Full Service B&M $37,819
    Primis Bank 6830 Old Dominion Drive Mc Lean, VA 22101 Full Service B&M $64,493
    Primis Bank 6941 Northumberland Hwy Heathsville, VA 22473 Full Service B&M $87,216
    Primis Bank 7132 George Washington Memorial Highway Gloucester, VA 23061 Full Service B&M $62,811
    Primis Bank 7700 Wisconsin Avenue Bethesda, MD 20814 Full Service B&M $29,419
    Primis Bank 8123 Mechanicsville Turnpike Mechanicsville, VA 23111 Full Service B&M $160,129
    Primis Bank 8821 W Broad Street Richmond, VA 23294 Full Service B&M $97,463
    Primis Bank 9484 Congress St New Market, VA 22844 Full Service B&M $36,868
    Primis Bank 9495 Charter Gate Drive Mechanicsville, VA 23116 Full Service B&M $106,330

    For 2021, Sonabank had 44 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $113,243
    Net interest income $99,686
    Total noninterest income $10,535
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $2,407
    Trading account gains and fees $0
    Additional Noninterest Income $8,128
    Pre-tax net operating income $45,943
    Securities gains (or losses, -) $0
    Income before extraordinary items $35,942
    Discontinued Operations (Extraordinary gains, net) $230
    Net income of bank and minority interests $36,172
    Minority interest net income $0
    Net income $36,172
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $35,942

    Sonabank's gross interest income from loans was $113,243,000.
    Sonabank's net interest income from loans was $99,686,000.
    Sonabank's fee based income from loans was $2,407,000.
    Sonabank's net income from loans was $36,172,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $13,557
    Provision for credit losses $-5,801
    Total noninterest expense $70,079
    Salaries and employee benefits $36,065
    Premises and equipment expense $9,677
    Additional noninterest expense $24,337
    Applicable income taxes $10,001
    Net charge-offs $1,439
    Cash dividends $0

    Sonabank's interest expense for loans was $13,557,000.
    Sonabank's payroll and benefits expense were $36,065,000.
    Sonabank's property, plant and equipment expenses $9,677,000.

    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 3.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 2.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    Commercial & industrial loans 1.0%
    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 $2,788,412
    Deposits held in domestic offices $2,788,412
    Deposits by Individuals, partnerships, and corporations $2,591,139
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $179,044
    Deposits by Commercial banks and other depository institutions in U.S. $18,229
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $569,810
    Demand deposits $564,059
    Nontransaction accounts $2,218,602
    Money market deposit accounts (MMDAs) $1,022,629
    Other savings deposits (excluding MMDAs) $835,398
    Total time deposits $360,575
    Total time and savings deposits $2,224,353
    Noninterest-bearing deposits $569,810
    Interest-bearing deposits $2,218,602
    Retail deposits $2,660,452
    IRAs and Keogh plan accounts $28,735
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $3,402,518
    Cash & Balances due from depository institutions $531,846
    Interest-bearing balances $510,384
    Total securities $294,272
    Federal funds sold & reverse repurchase $0
    Net loans and leases $2,310,881
    Loan and leases loss allowance $29,105
    Trading account assets $0
    Bank premises and fixed assets $42,032
    Other real estate owned $1,163
    Goodwill and other intangibles $106,416
    All other assets $115,908

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $3,402,518
    Total Liabilities $2,922,914
    Total deposits $2,788,412
    Interest-bearing deposits $2,218,602
    Deposits held in domestic offices $2,788,412
    % insured (estimated) $61
    Federal funds purchased and repurchase agreements $9,962
    Trading liabilities $0
    Other borrowed funds $100,000
    Subordinated debt $0
    All other liabilities $24,540

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $2,310,881
    Loan and leases loss allowance $29,105
    Total loans and leases (domestic) $2,339,986
    All real estate loans $1,893,671
    Real estate loans in domestic offices $1,893,671
    Construction and development loans $121,520
    Residential 1-4 family construction $22,173
    Other construction, all land development and other land $99,347
    Loans secured by nonfarm nonresidential properties $979,632
    Nonfarm nonresidential secured by owner-occupied properties $389,109
    Commercial real estate & other non-farm, non-residential $590,523
    Multifamily residential real estate $164,071
    1-4 family residential loans $622,706
    Farmland loans $5,742
    Loans held in foreign offices $0
    Farm loans $4,261
    Commercial and industrial loans $296,583
    To non-U.S. addressees $0
    Loans to individuals $60,853
    Credit card loans $172
    Related Plans $2,668
    Consumer Auto Loans $1,950
    Other loans to individuals $56,063
    All other loans & leases $84,618
    Loans to foreign governments and official institutions $0
    Other loans $84,335
    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 $3,401
    Non 1-4 family restructured loans & leases $2,870
    Total loans and leases (foreign) $0

    SONABANK had $2,310,881,000 of loans outstanding in 2021. $1,893,671,000 of loans were in real estate loans. $121,520,000 of loans were in development loans. $164,071,000 of loans were in multifamily mortgage loans. $622,706,000 of loans were in 1-4 family mortgage loans. $4,261,000 of loans were in farm loans. $172,000 of loans were in credit card loans. $1,950,000 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 711 $141,411 $198,890
    Nonfarm, nonresidential loans - <$100k 81 $4,071 $50,259
    Nonfarm, nonresidential loans - $100-250k 196 $17,023 $86,852
    Nonfarm, nonresidential loans - $250k-1MM 434 $120,317 $277,228
    Commercial & Industrial, US addressed loans - <$1MM 7,829 $188,522 $24,080
    Commercial & Industrial, US addressed loans - <$100k 6,339 $82,296 $12,982
    Commercial & Industrial, US addressed loans - $100-250k 964 $30,227 $31,356
    Commercial & Industrial, US addressed loans - $250k-1MM 526 $75,999 $144,485
    Farmland loans - <$1MM 30 $2,791 $93,033
    Farmland loans - <$100k 8 $283 $35,375
    Farmland loans - $100-250k 12 $1,007 $83,917
    Farmland loans - $250k-1MM 10 $1,501 $150,100
    Agriculture operations loans - <$1MM 34 $1,889 $55,559
    Agriculture operations loans - <$100k 22 $877 $39,864
    Agriculture operations loans - $100-250k 5 $79 $15,800
    Agriculture operations loans - $250k-1MM 7 $933 $133,286