Bank Of Charles Town Mortgage Rates, Fees & Info

Charles Town, WV

LEI: 549300ODM8A5T4RHPY32

Tax ID: 55-0118850

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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

    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, Winchester, Tampa, and Miami among others. We have data for 10 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.

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    Originations

    130

    Origination Dollar Volume (All Markets)

    $31,120,000

    Employee count

    120

    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) 73 $21,295,000 $291,712 $0 0.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 45 $5,775,000 $128,333 $0 0.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 4 $1,350,000 $337,500 $0 0.00%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $725,000 $725,000 $0 0.00%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $635,000 $635,000 $0 0.00%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $425,000 $425,000 $0 0.00%
    ROANOKE, VA (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 2 $180,000 $90,000 $0 0.00%
    MORGANTOWN, WV (FHA|USDA|VA) 1 $85,000 $85,000 $0 0.00%
    Bank Of Charles Town's top markets include Washington, Hagerstown, Winchester, Tampa, and Miami among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 130 $31,120,000 $239,385 $0 0.00%

    For 2019, Bank Of Charles Town's most frequently originated type of loan was Conventional, with 130 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 61 $18,595,000 $304,836 $0 0.00%
    Refi 48 $11,460,000 $238,750 $0 0.00%
    Other 11 $485,000 $44,091 $0 0.00%
    Home Improvement 10 $580,000 $58,000 $0 0.00%

    For 2019, Bank Of Charles Town's most frequently cited loan purpose was Home Purchase, with 61 originations. The 2nd most popular reason was Refi, with 48 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 130 $31,120,000 $239,385 $0 0.00%

    For 2019, Bank Of Charles Town's most frequently cited loan duration was Other, with 130 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 47 $2,565,000 $54,574 $0 0.00%
    $200k-400k 33 $9,255,000 $280,455 $0 0.00%
    $100k-200k 24 $3,480,000 $145,000 $0 0.00%
    $400k-600k 13 $5,975,000 $459,615 $0 0.00%
    $600k-1MM 11 $7,725,000 $702,273 $0 0.00%
    $1MM+ 2 $2,120,000 $1,060,000 $0 0.00%

    2019 saw Bank Of Charles Town place emphasis on $100,000 or less loans with 47 originations, totaling $2,565,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 25 $2,825,000 $113,000 $0 0.00%
    $100k-150k 24 $6,260,000 $260,833 $0 0.00%
    $150k-250k 15 $5,005,000 $333,667 $0 0.00%
    $50k or less 14 $1,080,000 $77,143 $0 0.00%
    $75k-100k 12 $2,300,000 $191,667 $0 0.00%
    $250k+ 10 $6,350,000 $635,000 $0 0.00%

    Bank Of Charles Town lent most frequently to those with incomes in the $50k-75k range, with 25 originations. The second most popular income band? $100k-150k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 130 $31,120,000 $239,385 $0 0.00%

    Bank Of Charles Town lent most frequently to those with DTI ratios of Exempt%, with 130 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 93 $22,495,000 $241,882 $0 0.00%
    Not applicable 27 $6,455,000 $239,074 $0 0.00%
    Not provided 7 $2,055,000 $293,571 $0 0.00%
    Black 2 $80,000 $40,000 $0 0.00%
    Asian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    87.23%

    Bank Of Charles Town has an average approval rate.

    Pick Rate

    Approvals leading to origination
    75.38%

    Bank Of Charles Town has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 130 $31,120,000 $239,385

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 8 $3,530,000 $441,250
    Single Family (1-4 Units):Site-Built 122 $27,590,000 $226,148

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 7.1%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 1 7.1%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 7.1%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 2 14.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 7.1%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 42.9%

    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 $20,203
    Bank of Charles Town 111 East Washington Street Charles Town, WV 25414 Full Service B&M $228,406
    Bank of Charles Town 115 The Plains Road, Suite 150 Middleburg, VA 20117 Full Service B&M $18,632
    Bank of Charles Town 119 Cowardly Lion Drive Hedgesville, WV 25427 Full Service B&M $22,784
    Bank of Charles Town 1201 Wolf Rock Drive Suite 125 Purcellville, VA 20132 Full Service B&M $30,666
    Bank of Charles Town 1366 Washington Street Harpers Ferry, WV 25425 Full Service B&M $32,533
    Bank of Charles Town 446 Madison Trade Plaza Se Leesburg, VA 20175 Full Service B&M $14,836
    Bank of Charles Town 5480 Charles Town Road Kearneysville, WV 25430 Full Service B&M $19,551
    Bank of Charles Town 9738 Tuscarora Pike Martinsburg, WV 25403 Full Service B&M $58,498

    For 2019, Bank Of Charles Town had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $20,074
    Net interest income $16,291
    Total noninterest income $5,464
    Gross Fiduciary activities income $1,103
    Service charges on deposit accounts $1,173
    Trading account gains and fees $0
    Additional Noninterest Income $3,188
    Pre-tax net operating income $4,281
    Securities gains (or losses, -) $-7
    Income before extraordinary items $3,340
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $3,340
    Minority interest net income $0
    Net income $3,340
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $3,345

    Bank Of Charles Town's gross interest income from loans was $20,074,000.
    Bank Of Charles Town's net interest income from loans was $16,291,000.
    Bank Of Charles Town's fee based income from loans was $1,173,000.
    Bank Of Charles Town's net income from loans was $3,340,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,783
    Provision for credit losses $474
    Total noninterest expense $17,000
    Salaries and employee benefits $9,069
    Premises and equipment expense $2,764
    Additional noninterest expense $5,167
    Applicable income taxes $934
    Net charge-offs $27
    Cash dividends $963

    Bank Of Charles Town's interest expense for loans was $3,783,000.
    Bank Of Charles Town's payroll and benefits expense were $9,069,000.
    Bank Of Charles Town's property, plant and equipment expenses $2,764,000.

    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 0.0%
    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 $449,905
    Deposits held in domestic offices $449,905
    Deposits by Individuals, partnerships, and corporations $374,332
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $71,881
    Deposits by Commercial banks and other depository institutions in U.S. $3,692
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $90,811
    Demand deposits $71,459
    Nontransaction accounts $359,094
    Money market deposit accounts (MMDAs) $40,822
    Other savings deposits (excluding MMDAs) $187,787
    Total time deposits $130,486
    Total time and savings deposits $378,446
    Noninterest-bearing deposits $71,273
    Interest-bearing deposits $378,632
    Retail deposits $403,209
    IRAs and Keogh plan accounts $19,102
    Brokered deposits $1,997
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $515,715
    Cash & Balances due from depository institutions $32,979
    Interest-bearing balances $29,513
    Total securities $50,471
    Federal funds sold & reverse repurchase $0
    Net loans and leases $410,778
    Loan and leases loss allowance $3,716
    Trading account assets $0
    Bank premises and fixed assets $10,301
    Other real estate owned $53
    Goodwill and other intangibles $11
    All other assets $11,122

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $515,715
    Total Liabilities $463,979
    Total deposits $449,905
    Interest-bearing deposits $378,632
    Deposits held in domestic offices $449,905
    % insured (estimated) $83
    Federal funds purchased and repurchase agreements $1,911
    Trading liabilities $0
    Other borrowed funds $9,437
    Subordinated debt $0
    All other liabilities $2,726

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $410,778
    Loan and leases loss allowance $3,716
    Total loans and leases (domestic) $414,494
    All real estate loans $376,759
    Real estate loans in domestic offices $376,759
    Construction and development loans $24,148
    Residential 1-4 family construction $4,982
    Other construction, all land development and other land $19,166
    Loans secured by nonfarm nonresidential properties $137,969
    Nonfarm nonresidential secured by owner-occupied properties $57,305
    Commercial real estate & other non-farm, non-residential $80,664
    Multifamily residential real estate $21,110
    1-4 family residential loans $188,660
    Farmland loans $4,872
    Loans held in foreign offices $0
    Farm loans $415
    Commercial and industrial loans $20,371
    To non-U.S. addressees $0
    Loans to individuals $7,732
    Credit card loans $0
    Related Plans $125
    Consumer Auto Loans $3,140
    Other loans to individuals $4,467
    All other loans & leases $9,217
    Loans to foreign governments and official institutions $0
    Other loans $2,153
    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 $1,489
    Non 1-4 family restructured loans & leases $23
    Total loans and leases (foreign) $0

    Bank of Charles Town had $410,778,000 of loans outstanding in 2019. $376,759,000 of loans were in real estate loans. $24,148,000 of loans were in development loans. $21,110,000 of loans were in multifamily mortgage loans. $188,660,000 of loans were in 1-4 family mortgage loans. $415,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,140,000 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 162 $40,155 $247,870
    Nonfarm, nonresidential loans - <$100k 18 $671 $37,278
    Nonfarm, nonresidential loans - $100-250k 50 $6,220 $124,400
    Nonfarm, nonresidential loans - $250k-1MM 94 $33,264 $353,872
    Commercial & Industrial, US addressed loans - <$1MM 167 $12,102 $72,467
    Commercial & Industrial, US addressed loans - <$100k 115 $3,515 $30,565
    Commercial & Industrial, US addressed loans - $100-250k 33 $3,145 $95,303
    Commercial & Industrial, US addressed loans - $250k-1MM 19 $5,442 $286,421
    Farmland loans - <$1MM 6 $1,107 $184,500
    Farmland loans - <$100k 2 $117 $58,500
    Farmland loans - $100-250k 1 $123 $123,000
    Farmland loans - $250k-1MM 3 $867 $289,000
    Agriculture operations loans - <$1MM 8 $415 $51,875
    Agriculture operations loans - <$100k 6 $126 $21,000
    Agriculture operations loans - $100-250k 2 $289 $144,500