National Bankshares Mortgage Rates, Fees & Info

BLACKSBURG, VA

LEI: 549300Q745S62Q6QNW78

Tax ID: 54-0314870

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    National Bankshares is a smaller bank specializing in Home Purchase and Refi loans. National Bankshares has a high proportion of conventional loans. National Bankshares has a high proportion of conventional loans. Their top markets by origination volume include: Blacksburg, Roanoke, Kingsport, Bluefield, and Myrtle Beach among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    National Bankshares 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. National Bankshares is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    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.

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    Originations

    420

    Origination Dollar Volume (All Markets)

    $102,390,000

    Employee count

    227

    Awards

    NATIONAL BANKSHARES 30 Year Conventional Loans gold NATIONAL BANKSHARES 30 Year Conventional Loans gold
    Show all (2) awards

    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
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 312 $77,180,000 $247,372 $2,693 3.46%
    ROANOKE, VA (FHA|USDA|VA) 29 $11,085,000 $382,241 $3,275 2.96%
    Outside of Metro Areas 35 $6,085,000 $173,857 $3,245 4.06%
    KINGSPORT-BRISTOL, TN-VA (FHA|USDA|VA) 17 $4,065,000 $239,118 $3,123 3.61%
    Bluefield, WV-VA (FHA|USDA|VA) 21 $1,565,000 $74,524 $1,767 4.99%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 2 $630,000 $315,000 $3,156 3.43%
    CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
    Danville, VA (FHA|USDA|VA) 1 $485,000 $485,000 $3,384 2.63%
    Pinehurst-Southern Pines, NC (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
    Mount Airy, NC (FHA|USDA|VA) 1 $305,000 $305,000 $2,879 2.50%
    National Bankshares's top markets include Blacksburg, Roanoke, Kingsport, Bluefield, and Myrtle Beach among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)
  • North Carolina (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)
  • West Virginia (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against NATIONAL BANKSHARES based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    NATIONAL BANKSHARES, INC.
    Similarity Rank: 60
    FREEDOM FIRST
    Similarity Rank: 110
    FIRST BANCORP
    Similarity Rank: 570
    MEMBER ONE
    Similarity Rank: 574
    First Community Bank
    Similarity Rank: 924
    First-Citizens Bank & Trust Company
    Similarity Rank: 996
    First Heritage Mortgage, LLC
    Similarity Rank: 3432
    LAKEVIEW LOAN SERVICING, LLC
    Similarity Rank: 3970
    Alcova Mortgage LLC
    Similarity Rank: 5440
    RESIDENTIAL MORTGAGE SERVICES, INC.
    Similarity Rank: 5766

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 218 $56,000,000 $256,881 $0 0.00%
    Conventional 201 $46,155,000 $229,627 $2,746 3.52%
    VA 1 $235,000 $235,000 $7,125 2.25%

    For 2020, National Bankshares's most frequently originated type of loan was Conventional, with 218 originations. Their 2nd most popular type was Conventional, with 201 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 206 $42,140,000 $204,563 $3,295 3.74%
    Refi 147 $48,405,000 $329,286 $2,424 3.11%
    Cash Out Refi 32 $6,930,000 $216,563 $2,513 2.95%
    Other 27 $3,395,000 $125,741 $1,735 4.60%
    Home Improvement 8 $1,520,000 $190,000 $2,855 4.91%

    For 2020, National Bankshares's most frequently cited loan purpose was Home Purchase, with 206 originations. The 2nd most popular reason was Refi, with 147 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 248 $61,610,000 $248,427 $1,853 4.16%
    30 Year 93 $24,455,000 $262,957 $3,005 3.12%
    15 Year 38 $7,360,000 $193,684 $2,294 3.04%
    20 Year 17 $2,175,000 $127,941 $1,879 4.15%
    1 Year 10 $4,380,000 $438,000 $3,470 4.31%
    10 Year 8 $780,000 $97,500 $1,749 4.83%
    30+ year 3 $1,245,000 $415,000 $4,662 4.18%
    5 Year 3 $385,000 $128,333 $272 5.05%

    For 2020, National Bankshares's most frequently cited loan duration was Other, with 248 originations. The 2nd most popular length was 30 Year, with 93 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 137 $30,555,000 $223,029
    $1k-2k 11 $3,105,000 $282,273
    $2k-3k 2 $1,980,000 $990,000

    National Bankshares's average total fees were $3,005, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 137 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 69 $16,545,000 $239,783
    2.5-3% 44 $11,840,000 $269,091
    <2.5% 40 $9,240,000 $231,000
    4-5% 38 $7,770,000 $204,474
    5-6% 6 $530,000 $88,333
    Over 8% 3 $235,000 $78,333
    6-7% 1 $55,000 $55,000

    During 2020, National Bankshares's average interest rate for loans was 3.12%, while their most frequently originated rate bucket for loans was 3-4%, with 69 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 134 $36,890,000 $275,299 $2,979 3.21%
    $100k-200k 130 $18,650,000 $143,462 $2,444 3.39%
    $100,000 or less 107 $6,415,000 $59,953 $1,710 4.42%
    $400k-600k 33 $15,785,000 $478,333 $3,818 3.03%
    $600k-1MM 9 $7,465,000 $829,444 $6,478 3.83%
    $1MM+ 7 $17,185,000 $2,455,000 $5,583 3.89%

    2020 saw National Bankshares place emphasis on $200k-400k loans with 134 originations, totaling $36,890,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 69 $9,055,000 $131,232 $2,444 3.67%
    $100k-150k 64 $16,030,000 $250,469 $2,887 3.10%
    $50k or less 61 $6,385,000 $104,672 $2,548 3.76%
    $150k-250k 40 $11,270,000 $281,750 $3,020 3.36%
    $75k-100k 40 $8,980,000 $224,500 $2,865 3.21%
    $250k+ 32 $12,650,000 $395,313 $3,157 3.22%

    National Bankshares lent most frequently to those with incomes in the $50k-75k range, with 69 originations. The second most popular income band? $100k-150k, with 64 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 218 $56,000,000 $256,881 $0 0.00%
    20-30% 52 $10,510,000 $202,115 $2,535 3.34%
    <20% 34 $7,340,000 $215,882 $2,695 3.62%
    30-36% 32 $8,060,000 $251,875 $2,868 3.38%
    44% 6 $1,600,000 $266,667 $3,500 2.75%
    40% 5 $1,175,000 $235,000 $2,980 3.16%
    41% 4 $810,000 $202,500 $2,585 3.20%
    38% 4 $1,180,000 $295,000 $2,776 3.16%
    43% 3 $545,000 $181,667 $2,909 3.38%
    37% 3 $955,000 $318,333 $3,360 3.78%
    39% 3 $1,215,000 $405,000 $3,871 3.18%
    36% 3 $1,015,000 $338,333 $3,349 3.73%
    45% 2 $600,000 $300,000 $2,869 2.69%
    46% 2 $560,000 $280,000 $2,629 2.56%
    42% 2 $400,000 $200,000 $2,603 3.08%
    48% 1 $225,000 $225,000 $3,808 4.75%
    49% 1 $285,000 $285,000 $2,879 2.63%

    National Bankshares lent most frequently to those with DTI ratios of Exempt%, with 218 originations. The next most common DTI ratio? 20-30%, with 52 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 303 $62,235,000 $205,396 $2,741 3.40%
    Not applicable 91 $33,205,000 $364,890 $0 4.01%
    Not provided 13 $3,755,000 $288,846 $3,346 3.57%
    Asian 7 $1,705,000 $243,571 $2,681 2.92%
    Black 6 $1,490,000 $248,333 $2,719 3.61%

    Approval Rates

    Total approvals of all applications
    93.44%

    National Bankshares has an average approval rate.

    Pick Rate

    Approvals leading to origination
    85.00%

    National Bankshares has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    50.0 1 $15,000 $15,000
    Exempt 218 $56,000,000 $256,881
    NA 201 $46,375,000 $230,721

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 1 $455,000 $455,000
    Multifamily:Site-Built 23 $21,965,000 $955,000
    Single Family (1-4 Units):Manufactured 24 $1,530,000 $63,750
    Single Family (1-4 Units):Site-Built 372 $78,440,000 $210,860

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 11 $1,685,000 $153,182 $2,271 3.34%
    40-60% 39 $10,045,000 $257,564 $2,861 2.99%
    60-80% 102 $22,810,000 $223,627 $2,681 3.59%
    80-100% 41 $10,465,000 $255,244 $3,213 3.85%
    Over 100% 2 $490,000 $245,000 $5,055 2.38%
    Under 20% 5 $665,000 $133,000 $919 3.80%

    Complaints

    Bank Name Product Issue 2020 CPFB Complaints % of Total Issues
    NATIONAL ASSET MORTGAGE, LLC Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    NATIONAL ASSET MORTGAGE, LLC Conventional home mortgage Trouble during payment process 1 33.3%
    NATIONAL ASSET MORTGAGE, LLC Other type of mortgage Incorrect information on your report 1 33.3%

    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 $244,697
    The National Bank of Blacksburg 101 Hubbard Street Blacksburg, VA 24060 Full Service B&M $61,767
    The National Bank of Blacksburg 102 Wall Street Sw Abingdon, VA 24210 Full Service B&M $15,149
    The National Bank of Blacksburg 115 Shire Lane North Tazewell, VA 24630 Full Service B&M $27,208
    The National Bank of Blacksburg 1155 Claypool Hill Mall Rd. Cedar Bluff, VA 24609 Full Service B&M $15,093
    The National Bank of Blacksburg 120 Peppers Ferry Road, N.E. Christiansburg, VA 24073 Full Service B&M $55,568
    The National Bank of Blacksburg 144 Main Street Tazewell, VA 24651 Full Service B&M $51,800
    The National Bank of Blacksburg 185 E. Main Street Wytheville, VA 24382 Full Service B&M $103,602
    The National Bank of Blacksburg 1905 Front St. Richlands, VA 24641 Full Service B&M $18,111
    The National Bank of Blacksburg 196 Market Street North Tazewell, VA 24630 Full Service B&M $13,614
    The National Bank of Blacksburg 2001 Norwood Street Radford, VA 24143 Full Service B&M $42,732
    The National Bank of Blacksburg 201 Main Street Pearisburg, VA 24134 Full Service B&M $59,178
    The National Bank of Blacksburg 2070 Leatherwood Lane Bluefield, VA 24605 Full Service B&M $28,624
    The National Bank of Blacksburg 2280 Kraft Drive, Suite 1000 Blacksburg, VA 24060 Full Service B&M $9,778
    The National Bank of Blacksburg 250 N Washington Avenue Pulaski, VA 24301 Full Service B&M $22,112
    The National Bank of Blacksburg 3600 South Main Street Blacksburg, VA 24060 Full Service B&M $32,025
    The National Bank of Blacksburg 370 Virginia Avenue Rich Creek, VA 24147 Full Service B&M $16,404
    The National Bank of Blacksburg 46 North Franklin Street Christiansburg, VA 24073 Full Service B&M $52,343
    The National Bank of Blacksburg 506 East Stuart Drive Galax, VA 24333 Full Service B&M $28,940
    The National Bank of Blacksburg 511 Virginia Avenue Bluefield, VA 24605 Full Service B&M $60,784
    The National Bank of Blacksburg 611 Snidow Street Pembroke, VA 24136 Full Service B&M $31,389
    The National Bank of Blacksburg 900 Hethwood Boulevard Blacksburg, VA 24060 Full Service B&M $48,057
    The National Bank of Blacksburg 900 Memorial Drive Pulaski, VA 24301 Full Service B&M $94,566
    The National Bank of Blacksburg 900 North Main Street Blacksburg, VA 24060 Full Service B&M $45,655
    The National Bank of Blacksburg U.S.Route 11 Dublin, VA 24084 Full Service B&M $40,449

    For 2020, National Bankshares had 25 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $44,004
    Net interest income $38,167
    Total noninterest income $8,625
    Gross Fiduciary activities income $1,663
    Service charges on deposit accounts $1,750
    Trading account gains and fees $0
    Additional Noninterest Income $5,212
    Pre-tax net operating income $19,849
    Securities gains (or losses, -) $108
    Income before extraordinary items $16,668
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $16,668
    Minority interest net income $0
    Net income $16,668
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $16,577

    National Bankshares's gross interest income from loans was $44,004,000.
    National Bankshares's net interest income from loans was $38,167,000.
    National Bankshares's fee based income from loans was $1,750,000.
    National Bankshares's net income from loans was $16,668,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $5,837
    Provision for credit losses $1,991
    Total noninterest expense $24,952
    Salaries and employee benefits $14,153
    Premises and equipment expense $2,034
    Additional noninterest expense $8,765
    Applicable income taxes $3,289
    Net charge-offs $373
    Cash dividends $22,000

    National Bankshares's interest expense for loans was $5,837,000.
    National Bankshares's payroll and benefits expense were $14,153,000.
    National Bankshares's property, plant and equipment expenses $2,034,000.

    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 1.0%
    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 0.1%
    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 $1,298,293
    Deposits held in domestic offices $1,298,293
    Deposits by Individuals, partnerships, and corporations $995,796
    Deposits by U.S. Government $6
    Deposits by States and political subdivisions in the U.S. $301,930
    Deposits by Commercial banks and other depository institutions in U.S. $561
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $177,048
    Demand deposits $95,297
    Nontransaction accounts $1,121,245
    Money market deposit accounts (MMDAs) $220,009
    Other savings deposits (excluding MMDAs) $811,654
    Total time deposits $89,582
    Total time and savings deposits $1,202,996
    Noninterest-bearing deposits $277,944
    Interest-bearing deposits $1,020,349
    Retail deposits $1,285,116
    IRAs and Keogh plan accounts $35,360
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,506,348
    Cash & Balances due from depository institutions $123,845
    Interest-bearing balances $110,698
    Total securities $546,743
    Federal funds sold & reverse repurchase $0
    Net loans and leases $761,184
    Loan and leases loss allowance $8,481
    Trading account assets $0
    Bank premises and fixed assets $9,981
    Other real estate owned $1,553
    Goodwill and other intangibles $7,846
    All other assets $55,196

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,506,348
    Total Liabilities $1,318,422
    Total deposits $1,298,293
    Interest-bearing deposits $1,020,349
    Deposits held in domestic offices $1,298,293
    % insured (estimated) $62
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $20,129

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $761,184
    Loan and leases loss allowance $8,481
    Total loans and leases (domestic) $769,665
    All real estate loans $617,924
    Real estate loans in domestic offices $617,924
    Construction and development loans $42,257
    Residential 1-4 family construction $8,180
    Other construction, all land development and other land $34,077
    Loans secured by nonfarm nonresidential properties $301,349
    Nonfarm nonresidential secured by owner-occupied properties $146,808
    Commercial real estate & other non-farm, non-residential $154,541
    Multifamily residential real estate $87,711
    1-4 family residential loans $182,632
    Farmland loans $3,975
    Loans held in foreign offices $0
    Farm loans $2,740
    Commercial and industrial loans $75,184
    To non-U.S. addressees $0
    Loans to individuals $32,814
    Credit card loans $4,667
    Related Plans $66
    Consumer Auto Loans $11,953
    Other loans to individuals $16,128
    All other loans & leases $41,003
    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 $383
    Non 1-4 family restructured loans & leases $189
    Total loans and leases (foreign) $0

    NATIONAL BANKSHARES had $761,184,000 of loans outstanding in 2020. $617,924,000 of loans were in real estate loans. $42,257,000 of loans were in development loans. $87,711,000 of loans were in multifamily mortgage loans. $182,632,000 of loans were in 1-4 family mortgage loans. $2,740,000 of loans were in farm loans. $4,667,000 of loans were in credit card loans. $11,953,000 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 474 $85,916 $181,257
    Nonfarm, nonresidential loans - <$100k 155 $6,280 $40,516
    Nonfarm, nonresidential loans - $100-250k 137 $17,149 $125,175
    Nonfarm, nonresidential loans - $250k-1MM 182 $62,487 $343,335
    Commercial & Industrial, US addressed loans - <$1MM 469 $21,900 $46,695
    Commercial & Industrial, US addressed loans - <$100k 390 $9,115 $23,372
    Commercial & Industrial, US addressed loans - $100-250k 59 $6,237 $105,712
    Commercial & Industrial, US addressed loans - $250k-1MM 20 $6,548 $327,400
    Farmland loans - <$1MM 4 $509 $127,250
    Farmland loans - <$100k 2 $71 $35,500
    Farmland loans - $100-250k 1 $133 $133,000
    Farmland loans - $250k-1MM 1 $305 $305,000
    Agriculture operations loans - <$1MM 36 $1,236 $34,333
    Agriculture operations loans - <$100k 32 $770 $24,063
    Agriculture operations loans - $100-250k 3 $61 $20,333
    Agriculture operations loans - $250k-1MM 1 $405 $405,000