Bank Of Charles Town Mortgage Rates, Fees & Info

Charles Town, WV

LEI: 549300ODM8A5T4RHPY32

Tax ID: 55-0118850

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

Jump to:

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

    Bank Of Charles Town is a smaller bank specializing in Home Purchase and Refi loans. Bank Of Charles Town has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Hagerstown, Chambersburg, Pittsburgh, and Harrisburg among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Charles Town 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.

    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.


    Originations

    161

    Origination Dollar Volume (All Markets)

    $36,545,000

    Employee count

    113

    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
    Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 96 $25,880,000 $269,583 $0 0.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 57 $9,095,000 $159,561 $0 0.00%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $725,000 $725,000 $0 0.00%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $255,000 $255,000 $0 0.00%
    Outside of Metro Areas 2 $250,000 $125,000 $0 0.00%
    HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 2 $110,000 $55,000 $0 0.00%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $35,000 $35,000 $0 0.00%
    Bank Of Charles Town's top markets include Washington, Hagerstown, Chambersburg, Pittsburgh, and Harrisburg among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 161 $36,545,000 $226,988 $0 0.00%

    For 2018, Bank Of Charles Town's most frequently originated type of loan was Conventional, with 161 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 72 $21,040,000 $292,222 $0 0.00%
    Refi 62 $13,690,000 $220,806 $0 0.00%
    Home Improvement 19 $1,535,000 $80,789 $0 0.00%
    Other 8 $280,000 $35,000 $0 0.00%

    For 2018, Bank Of Charles Town's most frequently cited loan purpose was Home Purchase, with 72 originations. The 2nd most popular reason was Refi, with 62 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 161 $36,545,000 $226,988 $0 0.00%

    For 2018, Bank Of Charles Town's most frequently cited loan duration was Other, with 161 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 61 $3,215,000 $52,705 $0 0.00%
    $100k-200k 40 $5,870,000 $146,750 $0 0.00%
    $200k-400k 36 $10,250,000 $284,722 $0 0.00%
    $400k-600k 14 $6,560,000 $468,571 $0 0.00%
    $1MM+ 5 $7,285,000 $1,457,000 $0 0.00%
    $600k-1MM 5 $3,365,000 $673,000 $0 0.00%

    2018 saw Bank Of Charles Town place emphasis on $100,000 or less loans with 61 originations, totaling $3,215,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 35 $9,895,000 $282,714 $0 0.00%
    $50k-75k 29 $3,505,000 $120,862 $0 0.00%
    $50k or less 25 $1,935,000 $77,400 $0 0.00%
    $75k-100k 24 $3,690,000 $153,750 $0 0.00%
    $100k-150k 21 $4,555,000 $216,905 $0 0.00%
    $250k+ 8 $5,830,000 $728,750 $0 0.00%

    Bank Of Charles Town lent most frequently to those with incomes in the $150k-250k range, with 35 originations. The second most popular income band? $50k-75k, with 29 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 161 $36,545,000 $226,988 $0 0.00%

    Bank Of Charles Town lent most frequently to those with DTI ratios of Exempt%, with 161 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 135 $27,565,000 $204,185 $0 0.00%
    Not applicable 16 $6,670,000 $416,875 $0 0.00%
    Not provided 5 $1,255,000 $251,000 $0 0.00%
    Asian 1 $455,000 $455,000 $0 0.00%
    Black 3 $395,000 $131,667 $0 0.00%
    Vietnamese 1 $205,000 $205,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    81.50%

    Bank Of Charles Town has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    82.61%

    Bank Of Charles Town has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 161 $36,545,000 $226,988

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 5 $5,055,000 $1,011,000
    Single Family (1-4 Units):Manufactured 3 $45,000 $15,000
    Single Family (1-4 Units):Site-Built 153 $31,445,000 $205,523

    Complaints

    Bank Name Product Issue 2018 CPFB Complaints % of Total Issues
    BANK OF THE WEST FHA mortgage Closing on a mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 1 3.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.4%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Incorrect information on your report 2 7.4%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 4 14.8%
    BANK OF THE WEST VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 3 11.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.7%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 5 18.5%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Charles Town 1101 Frederick Street Hagerstown, MD 21740 Full Service B&M $23,047
    Bank of Charles Town 111 East Washington Street Charles Town, WV 25414 Full Service B&M $204,201
    Bank of Charles Town 115 The Plains Road, Suite 150 Middleburg, VA 20117 Full Service B&M $9,905
    Bank of Charles Town 119 Cowardly Lion Drive Hedgesville, WV 25427 Full Service B&M $20,603
    Bank of Charles Town 1201 Wolf Rock Drive Suite 125 Purcellville, VA 20132 Full Service B&M $5
    Bank of Charles Town 1366 Washington Street Harpers Ferry, WV 25425 Full Service B&M $34,550
    Bank of Charles Town 5480 Charles Town Road Kearneysville, WV 25430 Full Service B&M $19,831
    Bank of Charles Town 9738 Tuscarora Pike Martinsburg, WV 25403 Full Service B&M $67,560

    For 2018, Bank Of Charles Town had 8 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $17,564
    Net interest income $14,865
    Total noninterest income $4,655
    Gross Fiduciary activities income $1,072
    Service charges on deposit accounts $1,129
    Trading account gains and fees $0
    Additional Noninterest Income $2,454
    Pre-tax net operating income $4,477
    Securities gains (or losses, -) $-6
    Income before extraordinary items $3,491
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,491
    Minority interest net income $0
    Net income $3,491
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,495

    Bank Of Charles Town's gross interest income from loans was $17,564,000.
    Bank Of Charles Town's net interest income from loans was $14,865,000.
    Bank Of Charles Town's fee based income from loans was $1,129,000.
    Bank Of Charles Town's net income from loans was $3,491,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,699
    Provision for credit losses $312
    Total noninterest expense $14,731
    Salaries and employee benefits $7,734
    Premises and equipment expense $2,267
    Additional noninterest expense $4,730
    Applicable income taxes $980
    Net charge-offs $633
    Cash dividends $646

    Bank Of Charles Town's interest expense for loans was $2,699,000.
    Bank Of Charles Town's payroll and benefits expense were $7,734,000.
    Bank Of Charles Town's property, plant and equipment expenses $2,267,000.

    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 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 $424,477
    Deposits held in domestic offices $424,477
    Deposits by Individuals, partnerships, and corporations $361,936
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $60,076
    Deposits by Commercial banks and other depository institutions in U.S. $2,464
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $62,168
    Demand deposits $45,352
    Nontransaction accounts $362,308
    Money market deposit accounts (MMDAs) $43,125
    Other savings deposits (excluding MMDAs) $189,488
    Total time deposits $129,695
    Total time and savings deposits $379,124
    Noninterest-bearing deposits $60,403
    Interest-bearing deposits $364,074
    Retail deposits $383,500
    IRAs and Keogh plan accounts $18,936
    Brokered deposits $1,993
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $484,353
    Cash & Balances due from depository institutions $56,809
    Interest-bearing balances $53,972
    Total securities $48,463
    Federal funds sold & reverse repurchase $0
    Net loans and leases $361,011
    Loan and leases loss allowance $3,269
    Trading account assets $0
    Bank premises and fixed assets $7,770
    Other real estate owned $170
    Goodwill and other intangibles $14
    All other assets $10,116

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $484,353
    Total Liabilities $435,338
    Total deposits $424,477
    Interest-bearing deposits $364,074
    Deposits held in domestic offices $424,477
    % insured (estimated) $84
    Federal funds purchased and repurchase agreements $3,287
    Trading liabilities $0
    Other borrowed funds $5,516
    Subordinated debt $0
    All other liabilities $2,058

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $361,011
    Loan and leases loss allowance $3,269
    Total loans and leases (domestic) $364,280
    All real estate loans $328,059
    Real estate loans in domestic offices $328,059
    Construction and development loans $20,459
    Residential 1-4 family construction $4,851
    Other construction, all land development and other land $15,608
    Loans secured by nonfarm nonresidential properties $104,854
    Nonfarm nonresidential secured by owner-occupied properties $44,070
    Commercial real estate & other non-farm, non-residential $60,784
    Multifamily residential real estate $17,428
    1-4 family residential loans $180,059
    Farmland loans $5,259
    Loans held in foreign offices $0
    Farm loans $399
    Commercial and industrial loans $17,275
    To non-U.S. addressees $0
    Loans to individuals $9,344
    Credit card loans $0
    Related Plans $125
    Consumer Auto Loans $2,930
    Other loans to individuals $6,289
    All other loans & leases $9,203
    Loans to foreign governments and official institutions $0
    Other loans $2,221
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $1,134
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $2,943
    Non 1-4 family restructured loans & leases $1,210
    Total loans and leases (foreign) $0

    Bank of Charles Town had $361,011,000 of loans outstanding in 2018. $328,059,000 of loans were in real estate loans. $20,459,000 of loans were in development loans. $17,428,000 of loans were in multifamily mortgage loans. $180,059,000 of loans were in 1-4 family mortgage loans. $399,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,930,000 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 145 $35,164 $242,510
    Nonfarm, nonresidential loans - <$100k 15 $574 $38,267
    Nonfarm, nonresidential loans - $100-250k 47 $5,573 $118,574
    Nonfarm, nonresidential loans - $250k-1MM 83 $29,017 $349,602
    Commercial & Industrial, US addressed loans - <$1MM 153 $10,418 $68,092
    Commercial & Industrial, US addressed loans - <$100k 109 $3,385 $31,055
    Commercial & Industrial, US addressed loans - $100-250k 28 $3,105 $110,893
    Commercial & Industrial, US addressed loans - $250k-1MM 16 $3,928 $245,500
    Farmland loans - <$1MM 6 $1,214 $202,333
    Farmland loans - <$100k 1 $16 $16,000
    Farmland loans - $100-250k 1 $131 $131,000
    Farmland loans - $250k-1MM 4 $1,067 $266,750
    Agriculture operations loans - <$1MM 6 $399 $66,500
    Agriculture operations loans - <$100k 4 $92 $23,000
    Agriculture operations loans - $100-250k 2 $307 $153,500