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

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Originations

311

Origination Dollar Volume (All Markets)

$52,945,000

Employee count

72

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) 249 $36,035,000 $144,719 $0 0.00%
Outside of Metro Areas 33 $13,105,000 $397,121 $0 0.00%
WEIRTON-STEUBENVILLE, WV-OH (FHA|USDA|VA) 29 $3,805,000 $131,207 $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)
  • Florida (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • Maryland (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 311 $52,945,000 $170,241 $0 0.00%

    For 2020, Main Street Bank Corp.'s most frequently originated type of loan was Conventional, with 311 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 187 $33,585,000 $179,599 $0 0.00%
    Cash Out Refi 83 $14,255,000 $171,747 $0 0.00%
    Home Improvement 23 $1,275,000 $55,435 $0 0.00%
    Refi 15 $3,235,000 $215,667 $0 0.00%
    Other 3 $595,000 $198,333 $0 0.00%

    For 2020, Main Street Bank Corp.'s most frequently cited loan purpose was Home Purchase, with 187 originations. The 2nd most popular reason was Cash Out Refi, with 83 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 311 $52,945,000 $170,241 $0 0.00%

    For 2020, Main Street Bank Corp.'s most frequently cited loan duration was Other, with 311 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 139 $8,365,000 $60,180 $0 0.00%
    $100k-200k 82 $11,470,000 $139,878 $0 0.00%
    $200k-400k 65 $18,885,000 $290,538 $0 0.00%
    $400k-600k 19 $8,665,000 $456,053 $0 0.00%
    $600k-1MM 5 $3,725,000 $745,000 $0 0.00%
    $1MM+ 1 $1,835,000 $1,835,000 $0 0.00%

    2020 saw Main Street Bank Corp. place emphasis on $100,000 or less loans with 139 originations, totaling $8,365,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k or less 44 $4,140,000 $94,091 $0 0.00%
    $100k-150k 40 $8,260,000 $206,500 $0 0.00%
    $50k-75k 39 $4,885,000 $125,256 $0 0.00%
    $75k-100k 36 $4,770,000 $132,500 $0 0.00%
    $150k-250k 29 $7,605,000 $262,241 $0 0.00%
    $250k+ 27 $11,355,000 $420,556 $0 0.00%

    Main Street Bank Corp. lent most frequently to those with incomes in the $50k or less range, with 44 originations. The second most popular income band? $100k-150k, with 40 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 311 $52,945,000 $170,241 $0 0.00%

    Main Street Bank Corp. lent most frequently to those with DTI ratios of Exempt%, with 311 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 204 $39,660,000 $194,412 $0 0.00%
    Not applicable 90 $9,950,000 $110,556 $0 0.00%
    Not provided 11 $2,635,000 $239,545 $0 0.00%
    Black 2 $270,000 $135,000 $0 0.00%
    Native Hawaiian or Islander 1 $185,000 $185,000 $0 0.00%
    American Indian 1 $125,000 $125,000 $0 0.00%
    Asian 1 $65,000 $65,000 $0 0.00%
    Korean 1 $55,000 $55,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.30%

    Main Street Bank Corp. has an average approval rate.

    Pick Rate

    Approvals leading to origination
    92.60%

    Main Street Bank Corp. has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 311 $52,945,000 $170,241

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 11 $2,515,000 $228,636
    Single Family (1-4 Units):Manufactured 2 $190,000 $95,000
    Single Family (1-4 Units):Site-Built 298 $50,240,000 $168,591

    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 $62,141
    Main Street Bank Corp. 112 North Lafayette Avenue Moundsville, WV 26041 Full Service B&M $41,204
    Main Street Bank Corp. 2001 Main Street, Suite 100 Wheeling, WV 26003 Full Service B&M $279,529
    Main Street Bank Corp. 2088 National Road Wheeling, WV 26003 Full Service B&M $47,300

    For 2020, Main Street Bank Corp. had 4 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,210
    Net interest income $16,841
    Total noninterest income $442
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $126
    Trading account gains and fees $0
    Additional Noninterest Income $316
    Pre-tax net operating income $5,933
    Securities gains (or losses, -) $2
    Income before extraordinary items $4,521
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,521
    Minority interest net income $0
    Net income $4,521
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,519

    Main Street Bank Corp.'s gross interest income from loans was $21,210,000.
    Main Street Bank Corp.'s net interest income from loans was $16,841,000.
    Main Street Bank Corp.'s fee based income from loans was $126,000.
    Main Street Bank Corp.'s net income from loans was $4,521,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $4,369
    Provision for credit losses $600
    Total noninterest expense $10,750
    Salaries and employee benefits $6,686
    Premises and equipment expense $1,086
    Additional noninterest expense $2,978
    Applicable income taxes $1,414
    Net charge-offs $-207
    Cash dividends $1,500

    Main Street Bank Corp.'s interest expense for loans was $4,369,000.
    Main Street Bank Corp.'s payroll and benefits expense were $6,686,000.
    Main Street Bank Corp.'s property, plant and equipment expenses $1,086,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 2.0%
    Real Estate loans 2.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 2.0%
    Multifamily residential loans 2.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 1.0%
    Personal loans 4.0%
    Credit card loans 0.0%
    Other individual loans 4.0%
    Auto loans 4.0%
    Other consumer loans 4.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $432,063
    Deposits held in domestic offices $432,063
    Deposits by Individuals, partnerships, and corporations $411,749
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $13,099
    Deposits by Commercial banks and other depository institutions in U.S. $7,215
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $109,973
    Demand deposits $96,182
    Nontransaction accounts $322,090
    Money market deposit accounts (MMDAs) $31,956
    Other savings deposits (excluding MMDAs) $129,134
    Total time deposits $161,000
    Total time and savings deposits $335,881
    Noninterest-bearing deposits $96,182
    Interest-bearing deposits $335,881
    Retail deposits $367,170
    IRAs and Keogh plan accounts $23,185
    Brokered deposits $21,000
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $510,534
    Cash & Balances due from depository institutions $38,265
    Interest-bearing balances $31,987
    Total securities $66,764
    Federal funds sold & reverse repurchase $0
    Net loans and leases $388,338
    Loan and leases loss allowance $6,008
    Trading account assets $0
    Bank premises and fixed assets $2,381
    Other real estate owned $95
    Goodwill and other intangibles $0
    All other assets $14,691

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $510,534
    Total Liabilities $461,469
    Total deposits $432,063
    Interest-bearing deposits $335,881
    Deposits held in domestic offices $432,063
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $9,920
    Trading liabilities $0
    Other borrowed funds $16,600
    Subordinated debt $0
    All other liabilities $2,886

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $388,338
    Loan and leases loss allowance $6,008
    Total loans and leases (domestic) $394,346
    All real estate loans $311,935
    Real estate loans in domestic offices $311,935
    Construction and development loans $1,822
    Residential 1-4 family construction $1,822
    Other construction, all land development and other land $0
    Loans secured by nonfarm nonresidential properties $92,650
    Nonfarm nonresidential secured by owner-occupied properties $91,890
    Commercial real estate & other non-farm, non-residential $760
    Multifamily residential real estate $16,097
    1-4 family residential loans $201,366
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $65,615
    To non-U.S. addressees $0
    Loans to individuals $16,787
    Credit card loans $0
    Related Plans $1
    Consumer Auto Loans $8,258
    Other loans to individuals $8,528
    All other loans & leases $11
    Loans to foreign governments and official institutions $0
    Other loans $11
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $30,914
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $1,248
    Non 1-4 family restructured loans & leases $1,075
    Total loans and leases (foreign) $0

    Main Street Bank Corp. had $388,338,000 of loans outstanding in 2020. $311,935,000 of loans were in real estate loans. $1,822,000 of loans were in development loans. $16,097,000 of loans were in multifamily mortgage loans. $201,366,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $8,258,000 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 449 $92,650 $206,347
    Nonfarm, nonresidential loans - <$100k 196 $12,009 $61,270
    Nonfarm, nonresidential loans - $100-250k 122 $15,695 $128,648
    Nonfarm, nonresidential loans - $250k-1MM 131 $64,946 $495,771
    Commercial & Industrial, US addressed loans - <$1MM 916 $65,615 $71,632
    Commercial & Industrial, US addressed loans - <$100k 721 $29,308 $40,649
    Commercial & Industrial, US addressed loans - $100-250k 140 $16,874 $120,529
    Commercial & Industrial, US addressed loans - $250k-1MM 55 $19,433 $353,327