National Bankshares Mortgage Rates, Fees & Info

BLACKSBURG, VA

LEI: 549300Q745S62Q6QNW78

Tax ID: 54-0314870

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

National Bankshares is a smaller bank specializing in Home Purchase and Refi loans. National Bankshares has a high proportion of conventional loans. Their top markets include Blacksburg, Roanoke, Lynchburg, Kingsport, and Bluefield among others. National Bankshares has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors.


Originations

396

Origination Dollar Volume (All Markets)

$109,970,000

Employee count

218

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 285 $80,225,000 $281,491 $0 0.00%
ROANOKE, VA (FHA|USDA|VA) 23 $13,015,000 $565,870 $0 0.00%
Outside of Metro Areas 49 $6,425,000 $131,122 $0 0.00%
LYNCHBURG, VA (FHA|USDA|VA) 1 $3,285,000 $3,285,000 $0 0.00%
KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 14 $2,710,000 $193,571 $0 0.00%
Bluefield, WV-VA (FHA|USDA|VA) 20 $2,130,000 $106,500 $0 0.00%
JOHNSON CITY, TN (FHA|USDA|VA) 1 $855,000 $855,000 $0 0.00%
Sevierville, TN (FHA|USDA|VA) 1 $855,000 $855,000 $0 0.00%
Martinsville, VA (FHA|USDA|VA) 1 $335,000 $335,000 $0 0.00%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $135,000 $135,000 $0 0.00%

National Bankshares 's top markets include Blacksburg, Roanoke, Lynchburg, Kingsport, and Bluefield among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 396 $109,970,000 $277,702 $0 0.00%

For the 2021 period, National Bankshares 's most frequently originated loan type of loans were Conventional, with 396 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Home Purchase 197 $72,645,000 $368,756 $0 0.00%
Refi 142 $29,760,000 $209,577 $0 0.00%
Other 26 $2,950,000 $113,462 $0 0.00%
Cash Out Refi 25 $4,015,000 $160,600 $0 0.00%
Home Improvement 6 $600,000 $100,000 $0 0.00%

For the 2021, National Bankshares 's most frequently cited loan purpose of loans were Home Purchase, with 197 originations. The 2nd most popular reason of loans were Refi, with 142 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
Other 396 $109,970,000 $277,702 $0 0.00%

For the 2021, National Bankshares 's most frequently cited loan length of loans were Other, with 396 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$100k-200k 137 $19,495,000 $142,299 $0 0.00%
$100,000 or less 112 $6,980,000 $62,321 $0 0.00%
$200k-400k 101 $27,485,000 $272,129 $0 0.00%
$400k-600k 27 $12,965,000 $480,185 $0 0.00%
$600k-1MM 11 $8,175,000 $743,182 $0 0.00%
$1MM+ 8 $34,870,000 $4,358,750 $0 0.00%

2021 saw National Bankshares place emphasis on $100k-200k loans with 137 originations, totaling $19,495,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$50k-75k 67 $9,155,000 $136,642 $0 0.00%
$50k or less 59 $6,005,000 $101,780 $0 0.00%
$100k-150k 57 $12,245,000 $214,825 $0 0.00%
$75k-100k 49 $8,345,000 $170,306 $0 0.00%
$250k+ 41 $16,045,000 $391,341 $0 0.00%
$150k-250k 39 $9,625,000 $246,795 $0 0.00%

National Bankshares lent most frequently to those with incomes in the $50k-75k range, with 67 originations. The second most popular income band? $50k or less, with 59 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
Exempt% 396 $109,970,000 $277,702 $0 0.00%

National Bankshares lent most frequently to those with DTI ratios of Exempt%, with 396 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
White 281 $53,925,000 $191,904 $0 0.00%
Not applicable 79 $47,645,000 $603,101 $0 0.00%
Not provided 18 $4,040,000 $224,444 $0 0.00%
Asian 11 $2,905,000 $264,091 $0 0.00%
Black 6 $1,400,000 $233,333 $0 0.00%
American Indian 1 $55,000 $55,000 $0 0.00%

Approval Rates

Total approvals of all applications
94.67%

National Bankshares has an average approval rate.

Pick Rate

Approvals leading to origination
84.42%

National Bankshares has a below average pick rate.

Points and Fees

Points Originations Total Value Average Loan
Exempt 396 $109,970,000 $277,702

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
396 $109,970,000 $277,702

Complaints

Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
NATIONAL ASSET MORTGAGE, LLC Conventional home mortgage Struggling to pay mortgage 2 100.0%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
The National Bank of Blacksburg 100 South Main Street Blacksburg, VA 24060 Full Service B&M $314,518
The National Bank of Blacksburg 2280 Kraft Drive, Suite 1000 Blacksburg, VA 24060 Full Service B&M $8,413
The National Bank of Blacksburg 250 N Washington Avenue Pulaski, VA 24301 Full Service B&M $30,721
The National Bank of Blacksburg 3600 South Main Street Blacksburg, VA 24060 Full Service B&M $36,865
The National Bank of Blacksburg 370 Virginia Avenue Rich Creek, VA 24147 Full Service B&M $17,537
The National Bank of Blacksburg 46 North Franklin Street Christiansburg, VA 24073 Full Service B&M $71,641
The National Bank of Blacksburg 506 East Stuart Drive Galax, VA 24333 Full Service B&M $35,269
The National Bank of Blacksburg 511 Virginia Avenue Bluefield, VA 24605 Full Service B&M $62,818
The National Bank of Blacksburg 611 Snidow Street Pembroke, VA 24136 Full Service B&M $37,026
The National Bank of Blacksburg 900 Hethwood Boulevard Blacksburg, VA 24060 Full Service B&M $56,918
The National Bank of Blacksburg 900 Memorial Drive Pulaski, VA 24301 Full Service B&M $107,218
The National Bank of Blacksburg 900 North Main Street Blacksburg, VA 24060 Full Service B&M $57,650
The National Bank of Blacksburg U.S.Route 11 Dublin, VA 24084 Full Service B&M $43,382
The National Bank of Blacksburg 101 Hubbard Street Blacksburg, VA 24060 Full Service B&M $69,384
The National Bank of Blacksburg 102 Wall Street Sw Abingdon, VA 24210 Full Service B&M $15,714
The National Bank of Blacksburg 115 Shire Lane North Tazewell, VA 24630 Full Service B&M $30,593
The National Bank of Blacksburg 1155 Claypool Hill Mall Rd. Cedar Bluff, VA 24609 Full Service B&M $18,052
The National Bank of Blacksburg 120 Peppers Ferry Road, N.E. Christiansburg, VA 24073 Full Service B&M $66,355
The National Bank of Blacksburg 144 Main Street Tazewell, VA 24651 Full Service B&M $69,830
The National Bank of Blacksburg 185 E. Main Street Wytheville, VA 24382 Full Service B&M $122,661
The National Bank of Blacksburg 1905 Front St. Richlands, VA 24641 Full Service B&M $18,727
The National Bank of Blacksburg 196 Market Street North Tazewell, VA 24630 Full Service B&M $16,526
The National Bank of Blacksburg 2001 Norwood Street Radford, VA 24143 Full Service B&M $46,604
The National Bank of Blacksburg 201 Main Street Pearisburg, VA 24134 Full Service B&M $71,219
The National Bank of Blacksburg 2070 Leatherwood Lane Bluefield, VA 24605 Full Service B&M $31,014

For 2021, National Bankshares had 25 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $44,987
Net interest income $41,889
Total noninterest income $9,106
Gross Fiduciary activities income $1,797
Service charges on deposit accounts $1,809
Trading account gains and fees $0
Additional Noninterest Income $5,500
Pre-tax net operating income $25,174
Securities gains (or losses, -) $6
Income before extraordinary items $20,707
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $20,707
Minority interest net income $0
Net income $20,707
Sale, conversion, retirement of capital stock, net $0
Net operating income $20,702

National Bankshares 's gross interest income from loans was $44,987,000.
National Bankshares 's net interest income from loans was $41,889,000.
National Bankshares 's fee based income from loans was $1,809,000.
National Bankshares 's net income from loans was $20,707,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $3,098
Provision for credit losses $-398
Total noninterest expense $26,219
Salaries and employee benefits $15,293
Premises and equipment expense $2,021
Additional noninterest expense $8,905
Applicable income taxes $4,473
Net charge-offs $409
Cash dividends $14,508

National Bankshares 's interest expense for loans was $3,098,000.
National Bankshares 's payroll and benefits expense were $15,293,000.
National Bankshares 's property, plant and equipment expenses $2,021,000.

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 $1,497,336
Deposits held in domestic offices $1,497,336
Deposits by Individuals, partnerships, and corporations $1,146,574
Deposits by U.S. Government $4
Deposits by States and political subdivisions in the U.S. $350,305
Deposits by Commercial banks and other depository institutions in U.S. $453
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $938,307
Demand deposits $332,682
Nontransaction accounts $559,029
Money market deposit accounts (MMDAs) $271,996
Other savings deposits (excluding MMDAs) $208,065
Total time deposits $78,968
Total time and savings deposits $1,164,654
Noninterest-bearing deposits $320,179
Interest-bearing deposits $1,177,157
Retail deposits $1,482,736
IRAs and Keogh plan accounts $37,225
Brokered deposits $0
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $1,699,084
Cash & Balances due from depository institutions $138,789
Interest-bearing balances $130,021
Total securities $686,080
Federal funds sold & reverse repurchase $0
Net loans and leases $796,189
Loan and leases loss allowance $7,674
Trading account assets $0
Bank premises and fixed assets $11,227
Other real estate owned $957
Goodwill and other intangibles $5,848
All other assets $59,994

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $1,699,084
Total Liabilities $1,512,450
Total deposits $1,497,336
Interest-bearing deposits $1,177,157
Deposits held in domestic offices $1,497,336
% insured (estimated) $60
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $0
Subordinated debt $0
All other liabilities $15,114

Issued Loan Types

Type Value (in 000's)
Net loans and leases $796,189
Loan and leases loss allowance $7,674
Total loans and leases (domestic) $803,863
All real estate loans $663,988
Real estate loans in domestic offices $663,988
Construction and development loans $48,752
Residential 1-4 family construction $9,990
Other construction, all land development and other land $38,762
Loans secured by nonfarm nonresidential properties $294,648
Nonfarm nonresidential secured by owner-occupied properties $123,948
Commercial real estate & other non-farm, non-residential $170,700
Multifamily residential real estate $106,612
1-4 family residential loans $209,585
Farmland loans $4,391
Loans held in foreign offices $0
Farm loans $2,389
Commercial and industrial loans $57,849
To non-U.S. addressees $0
Loans to individuals $31,712
Credit card loans $4,531
Related Plans $50
Consumer Auto Loans $10,916
Other loans to individuals $16,215
All other loans & leases $47,925
Loans to foreign governments and official institutions $0
Other loans $0
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 $3,005
Non 1-4 family restructured loans & leases $2,814
Total loans and leases (foreign) $0

NATIONAL BANKSHARES had $796,189,000 of loans outstanding in 2021. $663,988,000 of loans were in real estate loans. $48,752,000 of loans were in development loans. $106,612,000 of loans were in multifamily mortgage loans. $209,585,000 of loans were in 1-4 family mortgage loans. $2,389,000 of loans were in farm loans. $4,531,000 of loans were in credit card loans. $10,916,000 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 446 $80,312 $180,072
Nonfarm, nonresidential loans - <$100k 147 $5,907 $40,184
Nonfarm, nonresidential loans - $100-250k 132 $16,197 $122,705
Nonfarm, nonresidential loans - $250k-1MM 167 $58,208 $348,551
Commercial & Industrial, US addressed loans - <$1MM 423 $20,873 $49,345
Commercial & Industrial, US addressed loans - <$100k 345 $7,862 $22,788
Commercial & Industrial, US addressed loans - $100-250k 57 $6,611 $115,982
Commercial & Industrial, US addressed loans - $250k-1MM 21 $6,400 $304,762
Farmland loans - <$1MM 4 $553 $138,250
Farmland loans - <$100k 1 $28 $28,000
Farmland loans - $100-250k 2 $253 $126,500
Farmland loans - $250k-1MM 1 $272 $272,000
Agriculture operations loans - <$1MM 36 $1,386 $38,500
Agriculture operations loans - <$100k 30 $819 $27,300
Agriculture operations loans - $100-250k 5 $217 $43,400
Agriculture operations loans - $250k-1MM 1 $350 $350,000