Premier Bank Mortgage Rates, Fees & Info
Huntington, WVLEI: 549300SY7D44QB2JV602
Tax ID: 55-0758723
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Mortgage Data
Bank Data
Review & Overview
Premier Bank is a smaller bank specializing in Refi and Home Purchase loans. Premier Bank has a high proportion of conventional loans. Their top markets by origination volume include: Washington, Hagerstown, Charleston, Richmond, and Clarksburg among others. We have data for 17 markets. (Some data included below & more in-depth data is available with an active subscription.)Premier Bank 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.
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Originations
357Origination Dollar Volume (All Markets)
$70,925,000Employee count
212Top 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 |
|---|---|---|---|---|---|
| Outside of Metro Areas | 192 | $25,680,000 | $133,750 | $0 | 0.00% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 15 | $12,025,000 | $801,667 | $0 | 0.00% |
| HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) | 2 | $7,280,000 | $3,640,000 | $0 | 0.00% |
| CHARLESTON, WV (FHA|USDA|VA) | 57 | $5,755,000 | $100,965 | $0 | 0.00% |
| RICHMOND, VA (FHA|USDA|VA) | 17 | $5,265,000 | $309,706 | $0 | 0.00% |
| Clarksburg, WV (FHA|USDA|VA) | 15 | $3,025,000 | $201,667 | $0 | 0.00% |
| MORGANTOWN, WV (FHA|USDA|VA) | 4 | $2,910,000 | $727,500 | $0 | 0.00% |
| PARKERSBURG-VIENNA, WV (FHA|USDA|VA) | 9 | $2,295,000 | $255,000 | $0 | 0.00% |
| BECKLEY, WV (FHA|USDA|VA) | 17 | $2,225,000 | $130,882 | $0 | 0.00% |
| Fairmont, WV (FHA|USDA|VA) | 8 | $1,280,000 | $160,000 | $0 | 0.00% |
| HUNTINGTON-ASHLAND, WV-KY-OH (FHA|USDA|VA) | 8 | $850,000 | $106,250 | $0 | 0.00% |
| Marietta, OH (FHA|USDA|VA) | 5 | $815,000 | $163,000 | $0 | 0.00% |
| Point Pleasant, WV-OH (FHA|USDA|VA) | 3 | $635,000 | $211,667 | $0 | 0.00% |
| Mount Gay-Shamrock, WV (FHA|USDA|VA) | 2 | $290,000 | $145,000 | $0 | 0.00% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $0 | 0.00% |
| BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $0 | 0.00% |
| Elkins, WV (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 357 | $70,925,000 | $198,669 | $0 | 0.00% |
For 2020, Premier Bank's most frequently originated type of loan was Conventional, with 357 originations.
Loan Reason
For 2020, Premier Bank's most frequently cited loan purpose was Refi, with 181 originations. The 2nd most popular reason was Home Purchase, with 158 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 357 | $70,925,000 | $198,669 | $0 | 0.00% |
For 2020, Premier Bank's most frequently cited loan duration was Other, with 357 originations.
Loan Sizing
2020 saw Premier Bank place emphasis on $100,000 or less loans with 202 originations, totaling $10,320,000 in origination value.
Applicant Income
Premier Bank lent most frequently to those with incomes in the $50k or less range, with 88 originations. The second most popular income band? $50k-75k, with 71 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 357 | $70,925,000 | $198,669 | $0 | 0.00% |
Premier Bank lent most frequently to those with DTI ratios of Exempt%, with 357 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications89.79%
Premier Bank has an average approval rate.
Pick Rate
Approvals leading to origination82.63%
Premier Bank has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 357 | $70,925,000 | $198,669 |
Occupancy Type Mix
Complaints
| Bank Name | Product | Issue | 2020 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Premier Mortgage, LLC | VA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 100.0% |
Bank Details
Branches
| Bank Name | Branch | Branch Type | Deposits (000's) |
|---|---|---|---|
| Premier Bank, Inc. | 101 N Armistead Avenue Hampton, VA 23669 | Full Service B&M | $11,789 |
| Premier Bank, Inc. | 103 Miller Drive Ripley, WV 25271 | Full Service B&M | $18,509 |
| Premier Bank, Inc. | 1130 Connecticut Avenue, N.W., Suite 200 Washington, DC 20036 | Full Service B&M | $0 |
| Premier Bank, Inc. | 1160 First Street, Ne Washington, DC 20002 | Full Service Retail | $12,335 |
| Premier Bank, Inc. | 1397 Elizabeth Pike Mineral Wells, WV 26150 | Full Service B&M | $10,965 |
| Premier Bank, Inc. | 14 North Locust Street Buckhannon, WV 26201 | Full Service B&M | $58,879 |
| Premier Bank, Inc. | 141 - 155 N. Court Street Covington, VA 24426 | Full Service B&M | $26,026 |
| Premier Bank, Inc. | 1501 K Street, N.W. Washington, DC 20006 | Full Service B&M | $67,455 |
| Premier Bank, Inc. | 1604 17th Street, N.W. Washington, DC 20009 | Full Service B&M | $21,660 |
| Premier Bank, Inc. | 18854 Pond Fork Road Van, WV 25206 | Limited, Drive-thru | $7,393 |
| Premier Bank, Inc. | 2 South Main Street Philippi, WV 26416 | Full Service B&M | $70,560 |
| Premier Bank, Inc. | 201 Pennsylvania Avenue Charleston, WV 25362 | Full Service B&M | $83,804 |
| Premier Bank, Inc. | 202 E. Washington Street Lewisburg, WV 24901 | Full Service B&M | $39,277 |
| Premier Bank, Inc. | 2043 Main Street Clay, WV 25043 | Full Service B&M | $8,759 |
| Premier Bank, Inc. | 25 Oakmont Lane Bridgeport, WV 26330 | Full Service B&M | $42,889 |
| Premier Bank, Inc. | 2883 Fifth Ave Huntington, WV 25702 | Full Service B&M | $0 |
| Premier Bank, Inc. | 300 State Street Madison, WV 25130 | Full Service B&M | $151,494 |
| Premier Bank, Inc. | 303 Main Street Spencer, WV 25276 | Full Service B&M | $58,038 |
| Premier Bank, Inc. | 307 Hudgins Street Logan, WV 25601 | Full Service B&M | $12,690 |
| Premier Bank, Inc. | 316 Walbash Avenue Burnsville, WV 26335 | Full Service B&M | $7,892 |
| Premier Bank, Inc. | 320 North First Street Richmond, VA 23219 | Full Service B&M | $50,533 |
| Premier Bank, Inc. | 373 W. Main St. Sutton, WV 26601 | Full Service B&M | $8,584 |
| Premier Bank, Inc. | 40 Lincoln Plaza Branchland, WV 25506 | Full Service B&M | $18,342 |
| Premier Bank, Inc. | 406 Main Street Spencer, WV 25276 | Full Service B&M | $386 |
| Premier Bank, Inc. | 5530 Wisconsin Avenue Chevy Chase, MD 20815 | Full Service B&M | $22,049 |
| Premier Bank, Inc. | 601 Washington St Ravenswood, WV 26164 | Full Service B&M | $31,680 |
| Premier Bank, Inc. | 606 South Church Street Ripley, WV 25271 | Full Service B&M | $9,426 |
| Premier Bank, Inc. | 700 Elk Street Gassaway, WV 26624 | Full Service B&M | $136,755 |
| Premier Bank, Inc. | 799 North Jefferson Street Lewisburg, WV 24901 | Full Service B&M | $40,357 |
| Premier Bank, Inc. | 901 East Main Street White Sulphur Springs, WV 24986 | Full Service B&M | $17,161 |
| Premier Bank, Inc. | One Cedar Street Ronceverte, WV 24970 | Full Service B&M | $61,092 |
| Premier Bank, Inc. | State Route 4 And 20 Rock Cave, WV 26234 | Limited, Drive-thru | $0 |
| Premier Bank, Inc. | Sutton Lane Sutton, WV 26601 | Full Service B&M | $14,242 |
For 2020, Premier Bank had 33 branches.
Yearly Performance Overview
Bank Income
| Item | Value (in 000's) |
|---|---|
| Total interest income | $53,957 |
| Net interest income | $49,697 |
| Total noninterest income | $4,858 |
| Gross Fiduciary activities income | $0 |
| Service charges on deposit accounts | $2,294 |
| Trading account gains and fees | $0 |
| Additional Noninterest Income | $2,564 |
| Pre-tax net operating income | $23,748 |
| Securities gains (or losses, -) | $1 |
| Income before extraordinary items | $18,396 |
| Discontinued Operations (Extraordinary gains, net) | $0 |
| Net income of bank and minority interests | $18,396 |
| Minority interest net income | $0 |
| Net income | $18,396 |
| Sale, conversion, retirement of capital stock, net | $0 |
| Net operating income | $18,395 |
Premier Bank's gross interest income from loans was $53,957,000.
Premier Bank's net interest income from loans was $49,697,000.
Premier Bank's fee based income from loans was $2,294,000.
Premier Bank's net income from loans was $18,396,000.
Bank Expenses
| Item | Value (in 000's) |
|---|---|
| Total interest expense | $4,260 |
| Provision for credit losses | $3,010 |
| Total noninterest expense | $27,797 |
| Salaries and employee benefits | $11,933 |
| Premises and equipment expense | $4,995 |
| Additional noninterest expense | $10,869 |
| Applicable income taxes | $5,353 |
| Net charge-offs | $3,328 |
| Cash dividends | $16,000 |
Premier Bank's interest expense for loans was $4,260,000.
Premier Bank's payroll and benefits expense were $11,933,000.
Premier Bank's property, plant and equipment expenses $4,995,000.
Loan Performance
| Type of Loan | % of Loans Noncurrent (30+ days, end of period snapshot) |
|---|---|
| All loans | 1.0% |
| Real Estate loans | 1.0% |
| Construction & Land Development loans | 0.0% |
| Nonfarm, nonresidential loans | 1.0% |
| Multifamily residential loans | 0.0% |
| 1-4 family residential loans | 1.0% |
| HELOC loans | 1.0% |
| All other family | 1.0% |
| 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 | $1,144,013 |
| Deposits held in domestic offices | $1,144,013 |
| Deposits by Individuals, partnerships, and corporations | $1,064,091 |
| Deposits by U.S. Government | $0 |
| Deposits by States and political subdivisions in the U.S. | $79,504 |
| Deposits by Commercial banks and other depository institutions in U.S. | $418 |
| Deposits by Banks in foreign countries | $0 |
| Deposits by Foreign governments and official institutions | $0 |
| Transaction accounts | $9,604 |
| Demand deposits | $8,153 |
| Nontransaction accounts | $1,134,409 |
| Money market deposit accounts (MMDAs) | $727,561 |
| Other savings deposits (excluding MMDAs) | $202,071 |
| Total time deposits | $204,777 |
| Total time and savings deposits | $1,135,860 |
| Noninterest-bearing deposits | $366,425 |
| Interest-bearing deposits | $777,588 |
| Retail deposits | $1,108,713 |
| IRAs and Keogh plan accounts | $36,270 |
| Brokered deposits | $0 |
| Deposits held in foreign offices | $0 |
Assets
| Asset | Value (in 000's) |
|---|---|
| Total Assets | $1,349,113 |
| Cash & Balances due from depository institutions | $151,120 |
| Interest-bearing balances | $135,299 |
| Total securities | $220,367 |
| Federal funds sold & reverse repurchase | $2,125 |
| Net loans and leases | $892,832 |
| Loan and leases loss allowance | $10,866 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $26,182 |
| Other real estate owned | $9,748 |
| Goodwill and other intangibles | $40,857 |
| All other assets | $5,882 |
Liabilities
| Liabilities | Value (in 000's) |
|---|---|
| Total liabilities and capital | $1,349,113 |
| Total Liabilities | $1,169,827 |
| Total deposits | $1,144,013 |
| Interest-bearing deposits | $777,588 |
| Deposits held in domestic offices | $1,144,013 |
| % insured (estimated) | $80 |
| Federal funds purchased and repurchase agreements | $16,496 |
| Trading liabilities | $0 |
| Other borrowed funds | $6,258 |
| Subordinated debt | $0 |
| All other liabilities | $3,060 |
Issued Loan Types
| Type | Value (in 000's) |
|---|---|
| Net loans and leases | $892,832 |
| Loan and leases loss allowance | $10,866 |
| Total loans and leases (domestic) | $903,698 |
| All real estate loans | $750,225 |
| Real estate loans in domestic offices | $750,225 |
| Construction and development loans | $70,521 |
| Residential 1-4 family construction | $7,671 |
| Other construction, all land development and other land | $62,850 |
| Loans secured by nonfarm nonresidential properties | $382,748 |
| Nonfarm nonresidential secured by owner-occupied properties | $142,408 |
| Commercial real estate & other non-farm, non-residential | $240,340 |
| Multifamily residential real estate | $20,206 |
| 1-4 family residential loans | $272,464 |
| Farmland loans | $4,286 |
| Loans held in foreign offices | $0 |
| Farm loans | $32 |
| Commercial and industrial loans | $125,890 |
| To non-U.S. addressees | $0 |
| Loans to individuals | $12,410 |
| Credit card loans | $70 |
| Related Plans | $1,032 |
| Consumer Auto Loans | $4,339 |
| Other loans to individuals | $6,969 |
| All other loans & leases | $15,141 |
| 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 | $56 |
| Non 1-4 family restructured loans & leases | $0 |
| Total loans and leases (foreign) | $0 |
Premier Bank had $892,832,000 of loans outstanding in 2020. $750,225,000 of loans were in real estate loans. $70,521,000 of loans were in development loans. $20,206,000 of loans were in multifamily mortgage loans. $272,464,000 of loans were in 1-4 family mortgage loans. $32,000 of loans were in farm loans. $70,000 of loans were in credit card loans. $4,339,000 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 | 603 | $109,745 | $181,998 |
| Nonfarm, nonresidential loans - <$100k | 198 | $7,496 | $37,859 |
| Nonfarm, nonresidential loans - $100-250k | 199 | $24,831 | $124,779 |
| Nonfarm, nonresidential loans - $250k-1MM | 206 | $77,418 | $375,816 |
| Commercial & Industrial, US addressed loans - <$1MM | 650 | $44,300 | $68,154 |
| Commercial & Industrial, US addressed loans - <$100k | 473 | $11,700 | $24,736 |
| Commercial & Industrial, US addressed loans - $100-250k | 103 | $11,049 | $107,272 |
| Commercial & Industrial, US addressed loans - $250k-1MM | 74 | $21,551 | $291,230 |
| Farmland loans - <$1MM | 19 | $2,476 | $130,316 |
| Farmland loans - <$100k | 5 | $135 | $27,000 |
| Farmland loans - $100-250k | 10 | $1,428 | $142,800 |
| Farmland loans - $250k-1MM | 4 | $913 | $228,250 |
| Agriculture operations loans - <$1MM | 2 | $32 | $16,000 |
| Agriculture operations loans - <$100k | 2 | $32 | $16,000 |