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

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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, Cumberland, and Richmond among others. We have data for 11 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

    146

    Origination Dollar Volume (All Markets)

    $50,710,000

    Employee count

    115

    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) 78 $32,150,000 $412,179 $0 0.00%
    HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 47 $10,995,000 $233,936 $0 0.00%
    WINCHESTER, VA-WV (FHA|USDA|VA) 6 $3,210,000 $535,000 $0 0.00%
    CUMBERLAND, MD-WV (FHA|USDA|VA) 7 $1,965,000 $280,714 $0 0.00%
    RICHMOND, VA (FHA|USDA|VA) 1 $755,000 $755,000 $0 0.00%
    CHAMBERSBURG-WAYNESBORO, PA (FHA|USDA|VA) 2 $410,000 $205,000 $0 0.00%
    PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $405,000 $405,000 $0 0.00%
    Outside of Metro Areas 1 $275,000 $275,000 $0 0.00%
    LYNCHBURG, VA (FHA|USDA|VA) 1 $245,000 $245,000 $0 0.00%
    BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
    VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 1 $95,000 $95,000 $0 0.00%
    Bank Of Charles Town's top markets include Washington, Hagerstown, Winchester, Cumberland, and Richmond 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 146 $50,710,000 $347,329 $0 0.00%

    For 2021, Bank Of Charles Town's most frequently originated type of loan was Conventional, with 146 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 73 $31,625,000 $433,219 $0 0.00%
    Refi 47 $15,235,000 $324,149 $0 0.00%
    Home Improvement 20 $3,620,000 $181,000 $0 0.00%
    Other 6 $230,000 $38,333 $0 0.00%

    For 2021, Bank Of Charles Town's most frequently cited loan purpose was Home Purchase, with 73 originations. The 2nd most popular reason was Refi, with 47 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 146 $50,710,000 $347,329 $0 0.00%

    For 2021, Bank Of Charles Town's most frequently cited loan duration was Other, with 146 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 39 $11,185,000 $286,795 $0 0.00%
    $100,000 or less 38 $2,060,000 $54,211 $0 0.00%
    $400k-600k 23 $11,315,000 $491,957 $0 0.00%
    $100k-200k 22 $3,400,000 $154,545 $0 0.00%
    $600k-1MM 19 $15,205,000 $800,263 $0 0.00%
    $1MM+ 5 $7,545,000 $1,509,000 $0 0.00%

    2021 saw Bank Of Charles Town place emphasis on $200k-400k loans with 39 originations, totaling $11,185,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 32 $9,210,000 $287,813 $0 0.00%
    $150k-250k 24 $9,110,000 $379,583 $0 0.00%
    $250k+ 21 $13,945,000 $664,048 $0 0.00%
    $50k-75k 16 $2,310,000 $144,375 $0 0.00%
    $50k or less 14 $2,410,000 $172,143 $0 0.00%
    $75k-100k 14 $2,550,000 $182,143 $0 0.00%

    Bank Of Charles Town lent most frequently to those with incomes in the $100k-150k range, with 32 originations. The second most popular income band? $150k-250k, with 24 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 146 $50,710,000 $347,329 $0 0.00%

    Bank Of Charles Town lent most frequently to those with DTI ratios of Exempt%, with 146 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 100 $30,150,000 $301,500 $0 0.00%
    Not applicable 21 $10,295,000 $490,238 $0 0.00%
    Not provided 17 $8,065,000 $474,412 $0 0.00%
    Asian 4 $1,570,000 $392,500 $0 0.00%
    American Indian 1 $305,000 $305,000 $0 0.00%
    Black 2 $200,000 $100,000 $0 0.00%
    Native Hawaiian or Islander 1 $125,000 $125,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    90.00%

    Bank Of Charles Town has an average approval rate.

    Pick Rate

    Approvals leading to origination
    84.93%

    Bank Of Charles Town has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 146 $50,710,000 $347,329

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    146 $50,710,000 $347,329

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 20.0%
    BANK OF THE WEST VA mortgage Trouble during payment process 1 3.3%
    BANK OF THE WEST Other type of mortgage Trouble during payment process 2 6.7%
    BANK OF THE WEST Other type of mortgage Struggling to pay mortgage 1 3.3%
    BANK OF THE WEST Other type of mortgage Closing on a mortgage 1 3.3%
    BANK OF THE WEST Other type of mortgage Applying for a mortgage or refinancing an existing mortgage 1 3.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Trouble during payment process 3 10.0%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Closing on a mortgage 4 13.3%
    BANK OF THE WEST Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 2 6.7%
    BANK OF THE WEST FHA mortgage Trouble during payment process 1 3.3%
    BANK OF THE WEST Conventional home mortgage Struggling to pay mortgage 2 6.7%
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 16.7%
    BANK OF THE WEST Conventional home mortgage Closing on a mortgage 1 3.3%

    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 $24,268
    Bank of Charles Town 111 East Washington Street Charles Town, WV 25414 Full Service B&M $297,959
    Bank of Charles Town 115 The Plains Road, Suite 150 Middleburg, VA 20117 Full Service B&M $23,183
    Bank of Charles Town 119 Cowardly Lion Drive Hedgesville, WV 25427 Full Service B&M $30,520
    Bank of Charles Town 1201 Wolf Rock Drive Suite 125 Purcellville, VA 20132 Full Service B&M $43,391
    Bank of Charles Town 1366 Washington Street Harpers Ferry, WV 25425 Full Service B&M $48,722
    Bank of Charles Town 446 Madison Trade Plaza Se Leesburg, VA 20175 Full Service B&M $30,676
    Bank of Charles Town 5480 Charles Town Road Kearneysville, WV 25430 Full Service B&M $26,610
    Bank of Charles Town 9738 Tuscarora Pike Martinsburg, WV 25403 Full Service B&M $73,129

    For 2021, Bank Of Charles Town had 9 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,996
    Net interest income $21,125
    Total noninterest income $6,786
    Gross Fiduciary activities income $1,327
    Service charges on deposit accounts $882
    Trading account gains and fees $0
    Additional Noninterest Income $4,577
    Pre-tax net operating income $10,424
    Securities gains (or losses, -) $8
    Income before extraordinary items $8,086
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,086
    Minority interest net income $0
    Net income $8,086
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,079

    Bank Of Charles Town's gross interest income from loans was $22,996,000.
    Bank Of Charles Town's net interest income from loans was $21,125,000.
    Bank Of Charles Town's fee based income from loans was $882,000.
    Bank Of Charles Town's net income from loans was $8,086,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,871
    Provision for credit losses $-490
    Total noninterest expense $17,977
    Salaries and employee benefits $9,981
    Premises and equipment expense $2,431
    Additional noninterest expense $5,565
    Applicable income taxes $2,346
    Net charge-offs $-609
    Cash dividends $541

    Bank Of Charles Town's interest expense for loans was $1,871,000.
    Bank Of Charles Town's payroll and benefits expense were $9,981,000.
    Bank Of Charles Town's property, plant and equipment expenses $2,431,000.

    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 $629,561
    Deposits held in domestic offices $629,561
    Deposits by Individuals, partnerships, and corporations $551,435
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $76,161
    Deposits by Commercial banks and other depository institutions in U.S. $1,965
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $168,080
    Demand deposits $168,080
    Nontransaction accounts $461,481
    Money market deposit accounts (MMDAs) $69,162
    Other savings deposits (excluding MMDAs) $283,521
    Total time deposits $108,799
    Total time and savings deposits $461,481
    Noninterest-bearing deposits $141,740
    Interest-bearing deposits $487,821
    Retail deposits $594,089
    IRAs and Keogh plan accounts $20,618
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $709,715
    Cash & Balances due from depository institutions $89,587
    Interest-bearing balances $86,215
    Total securities $82,030
    Federal funds sold & reverse repurchase $0
    Net loans and leases $512,002
    Loan and leases loss allowance $5,504
    Trading account assets $0
    Bank premises and fixed assets $8,636
    Other real estate owned $0
    Goodwill and other intangibles $4
    All other assets $17,456

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $709,715
    Total Liabilities $639,971
    Total deposits $629,561
    Interest-bearing deposits $487,821
    Deposits held in domestic offices $629,561
    % insured (estimated) $79
    Federal funds purchased and repurchase agreements $7,050
    Trading liabilities $0
    Other borrowed funds $1,842
    Subordinated debt $0
    All other liabilities $1,518

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $512,002
    Loan and leases loss allowance $5,504
    Total loans and leases (domestic) $517,506
    All real estate loans $469,297
    Real estate loans in domestic offices $469,297
    Construction and development loans $28,349
    Residential 1-4 family construction $11,939
    Other construction, all land development and other land $16,410
    Loans secured by nonfarm nonresidential properties $236,925
    Nonfarm nonresidential secured by owner-occupied properties $104,746
    Commercial real estate & other non-farm, non-residential $132,179
    Multifamily residential real estate $20,958
    1-4 family residential loans $178,893
    Farmland loans $4,172
    Loans held in foreign offices $0
    Farm loans $160
    Commercial and industrial loans $31,410
    To non-U.S. addressees $0
    Loans to individuals $4,994
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $2,843
    Other loans to individuals $2,151
    All other loans & leases $11,645
    Loans to foreign governments and official institutions $0
    Other loans $1,896
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $525
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $719
    Non 1-4 family restructured loans & leases $1
    Total loans and leases (foreign) $0

    Bank of Charles Town had $512,002,000 of loans outstanding in 2021. $469,297,000 of loans were in real estate loans. $28,349,000 of loans were in development loans. $20,958,000 of loans were in multifamily mortgage loans. $178,893,000 of loans were in 1-4 family mortgage loans. $160,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,843,000 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 173 $51,595 $298,237
    Nonfarm, nonresidential loans - <$100k 13 $424 $32,615
    Nonfarm, nonresidential loans - $100-250k 47 $5,996 $127,574
    Nonfarm, nonresidential loans - $250k-1MM 113 $45,175 $399,779
    Commercial & Industrial, US addressed loans - <$1MM 417 $29,623 $71,038
    Commercial & Industrial, US addressed loans - <$100k 324 $8,147 $25,145
    Commercial & Industrial, US addressed loans - $100-250k 54 $6,353 $117,648
    Commercial & Industrial, US addressed loans - $250k-1MM 39 $15,123 $387,769
    Farmland loans - <$1MM 5 $978 $195,600
    Farmland loans - $100-250k 1 $68 $68,000
    Farmland loans - $250k-1MM 4 $910 $227,500
    Agriculture operations loans - <$1MM 2 $160 $80,000
    Agriculture operations loans - <$100k 1 $17 $17,000
    Agriculture operations loans - $100-250k 1 $143 $143,000