Main Street Bank Corp. Mortgage Rates, Fees & Info

Wheeling, WV

LEI: 549300N4D45V7JFCUS34

Tax ID: 55-0780787

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Mortgage Data

Bank Data

Review & Overview

Main Street Bank Corp. is a smaller bank specializing in Home Purchase and Cash Out Refi loans. Main Street Bank Corp. has a high proportion of conventional loans. Their top two markets are Wheeling and Weirton .

Main Street Bank Corp. has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders.

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Originations

245

Origination Dollar Volume (All Markets)

$31,845,000

Employee count

74

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
WHEELING, WV-OH (FHA|USDA|VA) 198 $25,200,000 $127,273 $0 0.00%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 33 $4,215,000 $127,727 $0 0.00%
Outside of Metro Areas 14 $2,430,000 $173,571 $0 0.00%
Main Street Bank Corp.'s top markets include Wheeling and Weirton among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 245 $31,845,000 $129,980 $0 0.00%

    For 2019, Main Street Bank Corp.'s most frequently originated type of loan was Conventional, with 245 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 155 $21,425,000 $138,226 $0 0.00%
    Cash Out Refi 55 $7,975,000 $145,000 $0 0.00%
    Home Improvement 26 $1,500,000 $57,692 $0 0.00%
    Other 6 $410,000 $68,333 $0 0.00%
    Refi 3 $535,000 $178,333 $0 0.00%

    For 2019, Main Street Bank Corp.'s most frequently cited loan purpose was Home Purchase, with 155 originations. The 2nd most popular reason was Cash Out Refi, with 55 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 245 $31,845,000 $129,980 $0 0.00%

    For 2019, Main Street Bank Corp.'s most frequently cited loan duration was Other, with 245 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 136 $7,770,000 $57,132 $0 0.00%
    $100k-200k 69 $9,205,000 $133,406 $0 0.00%
    $200k-400k 30 $8,900,000 $296,667 $0 0.00%
    $400k-600k 8 $3,550,000 $443,750 $0 0.00%
    $1MM+ 1 $1,805,000 $1,805,000 $0 0.00%
    $600k-1MM 1 $615,000 $615,000 $0 0.00%

    2019 saw Main Street Bank Corp. place emphasis on $100,000 or less loans with 136 originations, totaling $7,770,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 42 $6,950,000 $165,476 $0 0.00%
    $50k-75k 39 $3,415,000 $87,564 $0 0.00%
    $50k or less 31 $2,405,000 $77,581 $0 0.00%
    $75k-100k 20 $2,650,000 $132,500 $0 0.00%
    $150k-250k 12 $2,750,000 $229,167 $0 0.00%
    $250k+ 8 $3,880,000 $485,000 $0 0.00%

    Main Street Bank Corp. lent most frequently to those with incomes in the $100k-150k range, with 42 originations. The second most popular income band? $50k-75k, with 39 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 245 $31,845,000 $129,980 $0 0.00%

    Main Street Bank Corp. lent most frequently to those with DTI ratios of Exempt%, with 245 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 151 $22,535,000 $149,238 $0 0.00%
    Not applicable 88 $8,960,000 $101,818 $0 0.00%
    Other Asian 1 $145,000 $145,000 $0 0.00%
    Black 3 $145,000 $48,333 $0 0.00%
    American Indian 1 $45,000 $45,000 $0 0.00%
    Asian Indian 1 $15,000 $15,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    89.56%

    Main Street Bank Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    91.84%

    Main Street Bank Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 245 $31,845,000 $129,980

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $95,000 $95,000
    Multifamily:Site-Built 14 $2,320,000 $165,714
    Single Family (1-4 Units):Manufactured 9 $985,000 $109,444
    Single Family (1-4 Units):Site-Built 221 $28,445,000 $128,710

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Main Street Bank Corp. 1010 Commerce Street Wellsburg, WV 26070 Full Service B&M $52,318
    Main Street Bank Corp. 112 North Lafayette Avenue Moundsville, WV 26041 Full Service B&M $37,936
    Main Street Bank Corp. 2001 Main Street, Suite 100 Wheeling, WV 26003 Full Service B&M $248,143
    Main Street Bank Corp. 2088 National Road Wheeling, WV 26003 Full Service B&M $33,846

    For 2019, Main Street Bank Corp. had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,272
    Net interest income $17,594
    Total noninterest income $358
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $149
    Trading account gains and fees $0
    Additional Noninterest Income $209
    Pre-tax net operating income $6,924
    Securities gains (or losses, -) $0
    Income before extraordinary items $5,272
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $5,272
    Minority interest net income $0
    Net income $5,272
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $5,272

    Main Street Bank Corp.'s gross interest income from loans was $22,272,000.
    Main Street Bank Corp.'s net interest income from loans was $17,594,000.
    Main Street Bank Corp.'s fee based income from loans was $149,000.
    Main Street Bank Corp.'s net income from loans was $5,272,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,678
    Provision for credit losses $678
    Total noninterest expense $10,350
    Salaries and employee benefits $6,112
    Premises and equipment expense $1,085
    Additional noninterest expense $3,153
    Applicable income taxes $1,652
    Net charge-offs $877
    Cash dividends $1,251

    Main Street Bank Corp.'s interest expense for loans was $4,678,000.
    Main Street Bank Corp.'s payroll and benefits expense were $6,112,000.
    Main Street Bank Corp.'s property, plant and equipment expenses $1,085,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 1.0%
    All other family 1.0%
    Commercial & industrial loans 1.0%
    Personal loans 3.0%
    Credit card loans 0.0%
    Other individual loans 3.0%
    Auto loans 3.0%
    Other consumer loans 3.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $385,053
    Deposits held in domestic offices $385,053
    Deposits by Individuals, partnerships, and corporations $368,627
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $13,749
    Deposits by Commercial banks and other depository institutions in U.S. $2,677
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $84,515
    Demand deposits $71,724
    Nontransaction accounts $300,538
    Money market deposit accounts (MMDAs) $26,838
    Other savings deposits (excluding MMDAs) $108,750
    Total time deposits $164,950
    Total time and savings deposits $313,329
    Noninterest-bearing deposits $71,274
    Interest-bearing deposits $313,779
    Retail deposits $317,158
    IRAs and Keogh plan accounts $20,453
    Brokered deposits $34,135
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $472,531
    Cash & Balances due from depository institutions $46,863
    Interest-bearing balances $41,300
    Total securities $34,663
    Federal funds sold & reverse repurchase $0
    Net loans and leases $374,967
    Loan and leases loss allowance $5,201
    Trading account assets $0
    Bank premises and fixed assets $2,428
    Other real estate owned $559
    Goodwill and other intangibles $0
    All other assets $13,051

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $472,531
    Total Liabilities $426,389
    Total deposits $385,053
    Interest-bearing deposits $313,779
    Deposits held in domestic offices $385,053
    % insured (estimated) $87
    Federal funds purchased and repurchase agreements $8,896
    Trading liabilities $0
    Other borrowed funds $30,000
    Subordinated debt $0
    All other liabilities $2,440

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $374,967
    Loan and leases loss allowance $5,201
    Total loans and leases (domestic) $380,168
    All real estate loans $307,558
    Real estate loans in domestic offices $307,558
    Construction and development loans $1,959
    Residential 1-4 family construction $1,959
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $91,216
    Nonfarm nonresidential secured by owner-occupied properties $90,102
    Commercial real estate & other non-farm, non-residential $1,114
    Multifamily residential real estate $14,270
    1-4 family residential loans $200,113
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $55,426
    To non-U.S. addressees $0
    Loans to individuals $17,135
    Credit card loans $0
    Related Plans $2
    Consumer Auto Loans $8,676
    Other loans to individuals $8,457
    All other loans & leases $51
    Loans to foreign governments and official institutions $0
    Other loans $51
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $35,496
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $655
    Non 1-4 family restructured loans & leases $472
    Total loans and leases (foreign) $0

    Main Street Bank Corp. had $374,967,000 of loans outstanding in 2019. $307,558,000 of loans were in real estate loans. $1,959,000 of loans were in development loans. $14,270,000 of loans were in multifamily mortgage loans. $200,113,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $8,676,000 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 457 $91,216 $199,597
    Nonfarm, nonresidential loans - <$100k 208 $13,284 $63,865
    Nonfarm, nonresidential loans - $100-250k 117 $14,437 $123,393
    Nonfarm, nonresidential loans - $250k-1MM 132 $63,495 $481,023
    Commercial & Industrial, US addressed loans - <$1MM 701 $55,426 $79,067
    Commercial & Industrial, US addressed loans - <$100k 555 $22,862 $41,193
    Commercial & Industrial, US addressed loans - $100-250k 100 $11,690 $116,900
    Commercial & Industrial, US addressed loans - $250k-1MM 46 $20,874 $453,783