Clear Mountain Bank Mortgage Rates, Fees & Info

Bruceton Mills, WV

LEI: 549300KNZ6E1MM7RQQ04

Tax ID: 55-0131840

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

Review & Overview

Clear Mountain Bank is a smaller bank specializing in Home Purchase and Refi loans. Clear Mountain Bank has a high proportion of conventional loans. They have a low ratio of USDA loans. Their top markets by origination volume include: Morgantown, Clarksburg, Fairmont, Pittsburgh, and State College among others. We have data for 18 markets. (Some data included below & more in-depth data is available with an active subscription.)

Clear Mountain 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. Clear Mountain 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.

Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

SimulatedRates™ Mortgage Type	Simulated Rate	Simulation Date
30 Year Conventional Purchase	6.58%	4/21/24
30 Year Conventional Refi	6.66%	4/21/24
30 Year Cash-out Refi	6.39%	4/21/24
30 Year VA Purchase	5.90%	4/21/24
30 Year USDA Purchase	6.37%	4/21/24
15 Year Conventional Purchase	6.73%	4/21/24
15 Year Conventional Refi	6.51%	4/21/24
15 Year Cash-out Refi	6.51%	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.

Clear Mountain Bank Mortgage Calculator

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This is not an official calculator from Clear Mountain 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

484

Origination Dollar Volume (All Markets)

$93,000,000

Employee count

152

Awards

Clear Mountain Bank 30 Year Conventional Loans silver

Show all (3) 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
MORGANTOWN, WV (FHA\|USDA\|VA)	347	$65,685,000	$189,294	$2,921	4.95%
Outside of Metro Areas	59	$11,715,000	$198,559	$3,251	4.96%
Clarksburg, WV (FHA\|USDA\|VA)	37	$8,565,000	$231,486	$3,066	5.15%
Fairmont, WV (FHA\|USDA\|VA)	16	$2,400,000	$150,000	$3,091	4.89%
PITTSBURGH, PA (FHA\|USDA\|VA)	6	$910,000	$151,667	$3,196	4.92%
STATE COLLEGE, PA (FHA\|USDA\|VA)	1	$615,000	$615,000	$6,120	4.63%
WEIRTON-STEUBENVILLE, WV-OH (FHA\|USDA\|VA)	5	$495,000	$99,000	$0	5.40%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA\|USDA\|VA)	2	$440,000	$220,000	$2,853	4.06%
Georgetown, SC (FHA\|USDA\|VA)	1	$385,000	$385,000	$3,257	4.63%
BEND, OR (FHA\|USDA\|VA)	1	$365,000	$365,000	$1,681	4.88%
CHARLESTON-NORTH CHARLESTON, SC (FHA\|USDA\|VA)	1	$265,000	$265,000	$3,117	4.88%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA\|USDA\|VA)	1	$255,000	$255,000	$3,482	4.63%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA\|USDA\|VA)	1	$235,000	$235,000	$3,798	4.50%
CHARLESTON, WV (FHA\|USDA\|VA)	2	$180,000	$90,000	$3,326	4.25%
HARRISONBURG, VA (FHA\|USDA\|VA)	1	$165,000	$165,000	$2,571	3.75%
OCALA, FL (FHA\|USDA\|VA)	1	$155,000	$155,000	$3,122	4.50%
BECKLEY, WV (FHA\|USDA\|VA)	1	$115,000	$115,000	$2,350	4.50%
Somerset, PA (FHA\|USDA\|VA)	1	$55,000	$55,000	$1,501	4.88%

Clear Mountain Bank's top markets include Morgantown, Clarksburg, Fairmont, Pittsburgh, and State College among others.

Their top states include:

West Virginia (FHA|USDA|VA)

Maryland (FHA|USDA|VA)

Pennsylvania (FHA|USDA|VA)

South Carolina (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

Similar Lenders

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

Westmoreland Federal Savings
Similarity Rank: 12

TRI BORO
Similarity Rank: 25

Commercial Bank and Trust of PA
Similarity Rank: 57

HANCOCK COUNTY SAVINGS BANK, FSB, INC.
Similarity Rank: 88

West View Savings Bank
Similarity Rank: 102

M. S. Flynn, Inc.
Similarity Rank: 204

City National Bank of West Virginia
Similarity Rank: 228

First Federal Savings and Loan Association of Greene Co
Similarity Rank: 248

Clear Mountain Bank
Similarity Rank: 288

WELCOME HOME FINANCE, L.P.
Similarity Rank: 348

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	473	$91,465,000	$193,372	$2,956	4.97%
USDA	11	$1,535,000	$139,545	$4,194	4.31%

For 2018, Clear Mountain Bank's most frequently originated type of loan was Conventional, with 473 originations. Their 2nd most popular type was USDA, with 11 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	280	$53,740,000	$191,929	$3,212	4.91%
Refi	113	$29,485,000	$260,929	$2,978	4.82%
Other	38	$2,720,000	$71,579	$2,027	5.82%
Cash Out Refi	36	$5,910,000	$164,167	$2,974	4.49%
Home Improvement	17	$1,145,000	$67,353	$1,930	5.71%

For 2018, Clear Mountain Bank's most frequently cited loan purpose was Home Purchase, with 280 originations. The 2nd most popular reason was Refi, with 113 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
30 Year	246	$54,150,000	$220,122	$3,162	4.59%
15 Year	88	$10,410,000	$118,295	$2,352	5.18%
30+ year	41	$11,175,000	$272,561	$4,102	4.66%
Other	39	$3,405,000	$87,308	$2,184	5.99%
20 Year	35	$8,735,000	$249,571	$2,786	4.87%
10 Year	24	$4,770,000	$198,750	$1,832	5.83%
5 Year	10	$290,000	$29,000	$1,133	7.22%
1 Year	1	$65,000	$65,000	$0	5.50%

For 2018, Clear Mountain Bank's most frequently cited loan duration was 30 Year, with 246 originations. The 2nd most popular length was 15 Year, with 88 originations.

Origination Fees/Closing Costs

Origination Fee/Closing Cost	Originations	Total Value	Average Loan
$<1k	369	$68,185,000	$184,783
$1k-2k	34	$7,970,000	$234,412
$3k-4k	4	$1,040,000	$260,000
$4k-5k	2	$640,000	$320,000
$2k-3k	1	$385,000	$385,000
$5k+	1	$455,000	$455,000

Clear Mountain Bank's average total fees were $3,162, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 369 originations.

Interest Rates

Loan Rate	Originations	Total Value	Average Loan
4-5%	309	$66,305,000	$214,579
5-6%	81	$17,895,000	$220,926
3-4%	38	$6,110,000	$160,789
6-7%	27	$1,675,000	$62,037
7-8%	21	$795,000	$37,857
Over 8%	8	$220,000	$27,500

During 2018, Clear Mountain Bank's average interest rate for loans was 4.59%, while their most frequently originated rate bucket for loans was 4-5%, with 309 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	174	$9,970,000	$57,299	$2,223	5.57%
$100k-200k	145	$21,555,000	$148,655	$2,973	4.61%
$200k-400k	129	$35,525,000	$275,388	$3,368	4.62%
$400k-600k	23	$10,665,000	$463,696	$4,444	4.52%
$600k-1MM	9	$6,295,000	$699,444	$4,834	4.53%
$1MM+	4	$8,990,000	$2,247,500	$7,220	5.03%

2018 saw Clear Mountain Bank place emphasis on $100,000 or less loans with 174 originations, totaling $9,970,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k-75k	107	$14,165,000	$132,383	$2,876	4.98%
$100k-150k	91	$18,025,000	$198,077	$2,934	4.78%
$50k or less	78	$6,590,000	$84,487	$2,825	5.12%
$150k-250k	58	$15,610,000	$269,138	$3,344	4.70%
$75k-100k	57	$8,835,000	$155,000	$2,879	5.10%
$250k+	52	$17,460,000	$335,769	$3,273	4.65%

Clear Mountain Bank lent most frequently to those with incomes in the $50k-75k range, with 107 originations. The second most popular income band? $100k-150k, with 91 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-30%	144	$25,810,000	$179,236	$3,008	4.86%
30-36%	96	$16,530,000	$172,188	$2,940	4.77%
<20%	73	$12,515,000	$171,438	$2,797	4.78%
36%	17	$3,245,000	$190,882	$2,654	5.03%
40%	17	$2,845,000	$167,353	$3,005	4.91%
39%	16	$2,630,000	$164,375	$2,744	5.57%
37%	13	$3,215,000	$247,308	$3,116	4.80%
41%	12	$2,350,000	$195,833	$3,067	4.84%
38%	11	$2,065,000	$187,727	$4,599	5.08%
42%	9	$1,025,000	$113,889	$2,662	5.93%
46%	5	$1,115,000	$223,000	$2,825	4.43%
47%	5	$2,385,000	$477,000	$3,773	4.32%
48%	5	$1,455,000	$291,000	$3,709	4.58%
43%	4	$590,000	$147,500	$2,024	6.19%
45%	4	$790,000	$197,500	$3,551	4.44%
44%	3	$585,000	$195,000	$2,738	4.38%
49%	2	$390,000	$195,000	$4,177	4.38%
50-60%	1	$395,000	$395,000	$4,006	5.88%

Clear Mountain Bank lent most frequently to those with DTI ratios of 20-30%, with 144 originations. The next most common DTI ratio? 30-36%, with 96 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	395	$71,495,000	$181,000	$2,967	4.92%
Not applicable	35	$10,845,000	$309,857	$0	5.68%
Not provided	40	$7,040,000	$176,000	$3,020	4.80%
Black	7	$1,935,000	$276,429	$3,421	4.86%
Asian	5	$1,295,000	$259,000	$3,926	4.20%
Native Hawaiian or Islander	1	$245,000	$245,000	$3,057	4.25%
American Indian	1	$145,000	$145,000	$2,781	4.88%

Approval Rates

Total approvals of all applications
88.74%

Clear Mountain Bank has an average approval rate.

Pick Rate

Approvals leading to origination
78.31%

Clear Mountain Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
135.0	17	$545,000	$32,059
NA	467	$92,455,000	$197,976

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	5	$665,000	$133,000
Multifamily:Site-Built	7	$8,495,000	$1,213,571
Single Family (1-4 Units):Manufactured	82	$6,510,000	$79,390
Single Family (1-4 Units):Site-Built	390	$77,330,000	$198,282

LTV Distribution

Loan to Value	Originations	Total Value	Average Loan	Average Fees	Average Rate
20-40%	33	$2,865,000	$86,818	$2,100	5.18%
40-60%	54	$11,340,000	$210,000	$2,865	4.87%
60-80%	179	$36,915,000	$206,229	$3,211	4.92%
80-100%	176	$38,940,000	$221,250	$3,293	4.77%
Over 100%	7	$1,335,000	$190,714	$3,636	4.61%
Under 20%	34	$1,590,000	$46,765	$1,081	6.05%

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
Clear Mountain Bank	102 Venture Dr., Suite 1 Morgantown, WV 26508	Full Service B&M	$95,309
Clear Mountain Bank	1085 Van Voorhis, Suite 150 Morgantown, WV 26505	Full Service B&M	$15,059
Clear Mountain Bank	1101 East State Street Terra Alta, WV 26764	Full Service B&M	$50,444
Clear Mountain Bank	115 North Robert Stone Way Reedsville, WV 26547	Full Service B&M	$41,511
Clear Mountain Bank	12730 Garrett Highway Oakland, MD 21550	Full Service B&M	$49,083
Clear Mountain Bank	160 Morgantown St Bruceton Mills, WV 26525	Full Service B&M	$65,795
Clear Mountain Bank	1851 Earl Core Rd. Morgantown, WV 26505	Full Service Retail	$18,398
Clear Mountain Bank	1889 Earl Core Road Morgantown, WV 26505	Full Service B&M	$79,084
Clear Mountain Bank	30 East Main Street Rowlesburg, WV 26425	Full Service B&M	$12,819
Clear Mountain Bank	320 Southview Dr, Suite 101 Bridgeport, WV 26330	Full Service B&M	$5,256
Clear Mountain Bank	330 East Main Street Kingwood, WV 26537	Full Service B&M	$69,531
Clear Mountain Bank	350 Patteson Drive Morgantown, WV 26505	Full Service Retail	$16,248
Clear Mountain Bank	502 Suncrest Town Center Drive Morgantown, WV 26505	Full Service Retail	$5,290

For 2018, Clear Mountain Bank had 13 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$26,615
Net interest income	$23,238
Total noninterest income	$6,314
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$2,499
Trading account gains and fees	$0
Additional Noninterest Income	$3,815
Pre-tax net operating income	$10,158
Securities gains (or losses, -)	$3
Income before extraordinary items	$7,787
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$7,787
Minority interest net income	$0
Net income	$7,787
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$7,784

Clear Mountain Bank's gross interest income from loans was $26,615,000.
Clear Mountain Bank's net interest income from loans was $23,238,000.
Clear Mountain Bank's fee based income from loans was $2,499,000.
Clear Mountain Bank's net income from loans was $7,787,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$3,377
Provision for credit losses	$1,285
Total noninterest expense	$18,109
Salaries and employee benefits	$10,110
Premises and equipment expense	$2,006
Additional noninterest expense	$5,993
Applicable income taxes	$2,374
Net charge-offs	$905
Cash dividends	$1,200

Clear Mountain Bank's interest expense for loans was $3,377,000.
Clear Mountain Bank's payroll and benefits expense were $10,110,000.
Clear Mountain Bank's property, plant and equipment expenses $2,006,000.

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	1.0%
HELOC loans	0.0%
All other family	1.0%
Commercial & industrial loans	2.0%
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	$526,170
Deposits held in domestic offices	$526,170
Deposits by Individuals, partnerships, and corporations	$503,672
Deposits by U.S. Government	$1
Deposits by States and political subdivisions in the U.S.	$20,189
Deposits by Commercial banks and other depository institutions in U.S.	$2,308
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$44,875
Demand deposits	$38,387
Nontransaction accounts	$481,295
Money market deposit accounts (MMDAs)	$67,613
Other savings deposits (excluding MMDAs)	$227,343
Total time deposits	$186,339
Total time and savings deposits	$487,783
Noninterest-bearing deposits	$146,942
Interest-bearing deposits	$379,228
Retail deposits	$491,131
IRAs and Keogh plan accounts	$33,822
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$603,466
Cash & Balances due from depository institutions	$26,654
Interest-bearing balances	$19,334
Total securities	$89,833
Federal funds sold & reverse repurchase	$0
Net loans and leases	$457,786
Loan and leases loss allowance	$7,643
Trading account assets	$0
Bank premises and fixed assets	$13,322
Other real estate owned	$307
Goodwill and other intangibles	$111
All other assets	$15,453

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$603,466
Total Liabilities	$532,253
Total deposits	$526,170
Interest-bearing deposits	$379,228
Deposits held in domestic offices	$526,170
% insured (estimated)	$90
Federal funds purchased and repurchase agreements	$0
Trading liabilities	$0
Other borrowed funds	$0
Subordinated debt	$0
All other liabilities	$6,083

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$457,786
Loan and leases loss allowance	$7,643
Total loans and leases (domestic)	$465,429
All real estate loans	$385,102
Real estate loans in domestic offices	$385,102
Construction and development loans	$42,079
Residential 1-4 family construction	$7,133
Other construction, all land development and other land	$34,946
Loans secured by nonfarm nonresidential properties	$97,329
Nonfarm nonresidential secured by owner-occupied properties	$58,730
Commercial real estate & other non-farm, non-residential	$38,599
Multifamily residential real estate	$10,635
1-4 family residential loans	$233,109
Farmland loans	$1,950
Loans held in foreign offices	$0
Farm loans	$51
Commercial and industrial loans	$46,919
To non-U.S. addressees	$0
Loans to individuals	$31,294
Credit card loans	$2,253
Related Plans	$764
Consumer Auto Loans	$8,578
Other loans to individuals	$19,699
All other loans & leases	$4,001
Loans to foreign governments and official institutions	$0
Other loans	$188
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	$2,400
Non 1-4 family restructured loans & leases	$1,798
Total loans and leases (foreign)	$0

Clear Mountain Bank had $457,786,000 of loans outstanding in 2018. $385,102,000 of loans were in real estate loans. $42,079,000 of loans were in development loans. $10,635,000 of loans were in multifamily mortgage loans. $233,109,000 of loans were in 1-4 family mortgage loans. $51,000 of loans were in farm loans. $2,253,000 of loans were in credit card loans. $8,578,000 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	259	$46,720	$180,386
Nonfarm, nonresidential loans - <$100k	76	$3,748	$49,316
Nonfarm, nonresidential loans - $100-250k	91	$10,903	$119,813
Nonfarm, nonresidential loans - $250k-1MM	92	$32,069	$348,576
Commercial & Industrial, US addressed loans - <$1MM	553	$35,651	$64,468
Commercial & Industrial, US addressed loans - <$100k	424	$11,303	$26,658
Commercial & Industrial, US addressed loans - $100-250k	91	$10,199	$112,077
Commercial & Industrial, US addressed loans - $250k-1MM	38	$14,149	$372,342
Farmland loans - <$1MM	14	$1,950	$139,286
Farmland loans - <$100k	3	$59	$19,667
Farmland loans - $100-250k	5	$300	$60,000
Farmland loans - $250k-1MM	6	$1,591	$265,167
Agriculture operations loans - <$1MM	4	$51	$12,750
Agriculture operations loans - <$100k	4	$51	$12,750