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 Refi and Home Purchase loans. Bank Of Charles Town has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Hagerstown, Staunton, Winchester, and Roanoke among others. We have data for 12 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Charles Town has an above 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

    208

    Origination Dollar Volume (All Markets)

    $62,880,000

    Employee count

    108

    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) 123 $42,995,000 $349,553 $0 0.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 69 $12,615,000 $182,826 $0 0.00%
    STAUNTON, VA (FHA|USDA|VA) 1 $2,435,000 $2,435,000 $0 0.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 6 $1,980,000 $330,000 $0 0.00%
    ROANOKE, VA (FHA|USDA|VA) 2 $1,100,000 $550,000 $0 0.00%
    Outside of Metro Areas 1 $515,000 $515,000 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $445,000 $445,000 $0 0.00%
    SALISBURY, MD-DE (FHA|USDA|VA) 1 $215,000 $215,000 $0 0.00%
    MORGANTOWN, WV (FHA|USDA|VA) 1 $195,000 $195,000 $0 0.00%
    HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $185,000 $185,000 $0 0.00%
    PITTSBURGH, PA (FHA|USDA|VA) 1 $105,000 $105,000 $0 0.00%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Bank Of Charles Town's top markets include Washington, Hagerstown, Staunton, Winchester, and Roanoke among others.

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

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 208 $62,880,000 $302,308 $0 0.00%

    For 2020, Bank Of Charles Town's most frequently originated type of loan was Conventional, with 208 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 111 $36,325,000 $327,252 $0 0.00%
    Home Purchase 72 $23,650,000 $328,472 $0 0.00%
    Home Improvement 15 $2,235,000 $149,000 $0 0.00%
    Other 10 $670,000 $67,000 $0 0.00%

    For 2020, Bank Of Charles Town's most frequently cited loan purpose was Refi, with 111 originations. The 2nd most popular reason was Home Purchase, with 72 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 208 $62,880,000 $302,308 $0 0.00%

    For 2020, Bank Of Charles Town's most frequently cited loan duration was Other, with 208 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 65 $18,075,000 $278,077 $0 0.00%
    $100k-200k 58 $8,680,000 $149,655 $0 0.00%
    $100,000 or less 39 $1,805,000 $46,282 $0 0.00%
    $400k-600k 25 $12,145,000 $485,800 $0 0.00%
    $600k-1MM 15 $10,565,000 $704,333 $0 0.00%
    $1MM+ 6 $11,610,000 $1,935,000 $0 0.00%

    2020 saw Bank Of Charles Town place emphasis on $200k-400k loans with 65 originations, totaling $18,075,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 45 $11,945,000 $265,444 $0 0.00%
    $150k-250k 36 $12,270,000 $340,833 $0 0.00%
    $75k-100k 31 $5,995,000 $193,387 $0 0.00%
    $50k-75k 25 $3,955,000 $158,200 $0 0.00%
    $250k+ 20 $11,920,000 $596,000 $0 0.00%
    $50k or less 20 $2,050,000 $102,500 $0 0.00%

    Bank Of Charles Town lent most frequently to those with incomes in the $100k-150k range, with 45 originations. The second most popular income band? $150k-250k, with 36 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 208 $62,880,000 $302,308 $0 0.00%

    Bank Of Charles Town lent most frequently to those with DTI ratios of Exempt%, with 208 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 155 $40,075,000 $258,548 $0 0.00%
    Not applicable 30 $14,630,000 $487,667 $0 0.00%
    Not provided 18 $6,830,000 $379,444 $0 0.00%
    Asian 2 $640,000 $320,000 $0 0.00%
    Black 1 $345,000 $345,000 $0 0.00%
    American Indian 1 $255,000 $255,000 $0 0.00%
    Other Pacific Islander 1 $105,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    93.28%

    Bank Of Charles Town has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.65%

    Bank Of Charles Town has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 208 $62,880,000 $302,308

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 10 $11,490,000 $1,149,000
    Single Family (1-4 Units):Manufactured 1 $25,000 $25,000
    Single Family (1-4 Units):Site-Built 197 $51,365,000 $260,736

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Incorrect information on your report 1 3.8%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 2 7.7%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 4 15.4%
    BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 2 7.7%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 6 23.1%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Struggling to pay mortgage 1 3.8%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 2 7.7%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 4 15.4%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 2 7.7%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 1 3.8%

    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 $24,053
    Bank of Charles Town 111 East Washington Street Charles Town, WV 25414 Full Service B&M $264,720
    Bank of Charles Town 115 The Plains Road, Suite 150 Middleburg, VA 20117 Full Service B&M $14,380
    Bank of Charles Town 119 Cowardly Lion Drive Hedgesville, WV 25427 Full Service B&M $27,471
    Bank of Charles Town 1201 Wolf Rock Drive Suite 125 Purcellville, VA 20132 Full Service B&M $45,017
    Bank of Charles Town 1366 Washington Street Harpers Ferry, WV 25425 Full Service B&M $38,528
    Bank of Charles Town 446 Madison Trade Plaza Se Leesburg, VA 20175 Full Service B&M $26,502
    Bank of Charles Town 5480 Charles Town Road Kearneysville, WV 25430 Full Service B&M $22,095
    Bank of Charles Town 9738 Tuscarora Pike Martinsburg, WV 25403 Full Service B&M $71,968

    For 2020, Bank Of Charles Town had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $21,338
    Net interest income $18,001
    Total noninterest income $5,748
    Gross Fiduciary activities income $1,051
    Service charges on deposit accounts $880
    Trading account gains and fees $0
    Additional Noninterest Income $3,817
    Pre-tax net operating income $5,158
    Securities gains (or losses, -) $17
    Income before extraordinary items $4,049
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,049
    Minority interest net income $0
    Net income $4,049
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,035

    Bank Of Charles Town's gross interest income from loans was $21,338,000.
    Bank Of Charles Town's net interest income from loans was $18,001,000.
    Bank Of Charles Town's fee based income from loans was $880,000.
    Bank Of Charles Town's net income from loans was $4,049,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $3,337
    Provision for credit losses $1,441
    Total noninterest expense $17,150
    Salaries and employee benefits $9,600
    Premises and equipment expense $2,468
    Additional noninterest expense $5,082
    Applicable income taxes $1,126
    Net charge-offs $-228
    Cash dividends $993

    Bank Of Charles Town's interest expense for loans was $3,337,000.
    Bank Of Charles Town's payroll and benefits expense were $9,600,000.
    Bank Of Charles Town's property, plant and equipment expenses $2,468,000.

    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 $550,394
    Deposits held in domestic offices $550,394
    Deposits by Individuals, partnerships, and corporations $472,445
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $76,095
    Deposits by Commercial banks and other depository institutions in U.S. $1,854
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $139,281
    Demand deposits $113,132
    Nontransaction accounts $411,113
    Money market deposit accounts (MMDAs) $50,553
    Other savings deposits (excluding MMDAs) $246,452
    Total time deposits $114,108
    Total time and savings deposits $437,262
    Noninterest-bearing deposits $109,264
    Interest-bearing deposits $441,130
    Retail deposits $509,998
    IRAs and Keogh plan accounts $19,008
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $620,438
    Cash & Balances due from depository institutions $44,179
    Interest-bearing balances $41,697
    Total securities $62,987
    Federal funds sold & reverse repurchase $0
    Net loans and leases $491,293
    Loan and leases loss allowance $5,385
    Trading account assets $0
    Bank premises and fixed assets $9,435
    Other real estate owned $0
    Goodwill and other intangibles $8
    All other assets $12,536

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $620,438
    Total Liabilities $557,909
    Total deposits $550,394
    Interest-bearing deposits $441,130
    Deposits held in domestic offices $550,394
    % insured (estimated) $80
    Federal funds purchased and repurchase agreements $2,993
    Trading liabilities $0
    Other borrowed funds $2,136
    Subordinated debt $0
    All other liabilities $2,386

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $491,293
    Loan and leases loss allowance $5,385
    Total loans and leases (domestic) $496,678
    All real estate loans $417,634
    Real estate loans in domestic offices $417,634
    Construction and development loans $30,126
    Residential 1-4 family construction $6,528
    Other construction, all land development and other land $23,598
    Loans secured by nonfarm nonresidential properties $161,253
    Nonfarm nonresidential secured by owner-occupied properties $68,198
    Commercial real estate & other non-farm, non-residential $93,055
    Multifamily residential real estate $23,497
    1-4 family residential loans $198,048
    Farmland loans $4,710
    Loans held in foreign offices $0
    Farm loans $315
    Commercial and industrial loans $62,769
    To non-U.S. addressees $0
    Loans to individuals $7,057
    Credit card loans $0
    Related Plans $55
    Consumer Auto Loans $3,304
    Other loans to individuals $3,698
    All other loans & leases $8,903
    Loans to foreign governments and official institutions $0
    Other loans $2,098
    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 $990
    Non 1-4 family restructured loans & leases $8
    Total loans and leases (foreign) $0

    Bank of Charles Town had $491,293,000 of loans outstanding in 2020. $417,634,000 of loans were in real estate loans. $30,126,000 of loans were in development loans. $23,497,000 of loans were in multifamily mortgage loans. $198,048,000 of loans were in 1-4 family mortgage loans. $315,000 of loans were in farm loans. $0 of loans were in credit card loans. $3,304,000 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 200 $43,671 $218,355
    Nonfarm, nonresidential loans - <$100k 15 $470 $31,333
    Nonfarm, nonresidential loans - $100-250k 85 $6,132 $72,141
    Nonfarm, nonresidential loans - $250k-1MM 100 $37,069 $370,690
    Commercial & Industrial, US addressed loans - <$1MM 623 $47,053 $75,526
    Commercial & Industrial, US addressed loans - <$100k 488 $12,700 $26,025
    Commercial & Industrial, US addressed loans - $100-250k 81 $11,349 $140,111
    Commercial & Industrial, US addressed loans - $250k-1MM 54 $23,004 $426,000
    Farmland loans - <$1MM 5 $1,103 $220,600
    Farmland loans - $100-250k 1 $115 $115,000
    Farmland loans - $250k-1MM 4 $988 $247,000
    Agriculture operations loans - <$1MM 5 $315 $63,000
    Agriculture operations loans - <$100k 3 $46 $15,333
    Agriculture operations loans - $100-250k 2 $269 $134,500