Trupoint Bank Mortgage Rates, Fees & Info

Grundy, VA

LEI: 549300TELLWSMYL9RE90

Tax ID: 54-0924883

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Review & Overview

Trupoint Bank is a smaller bank specializing in Home Purchase and Refi loans. Trupoint Bank has a high proportion of conventional loans. Their top markets by origination volume include: Asheville, Johnson City, Kingsport, Bluefield, and Mount Airy among others. We have data for 11 markets. (Some data included below & more in-depth data is available with an active subscription.)

Trupoint 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

109

Origination Dollar Volume (All Markets)

$17,145,000

Employee count

121

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
ASHEVILLE, NC (FHA\|USDA\|VA)	17	$7,265,000	$427,353	$0	0.00%
JOHNSON CITY, TN (FHA\|USDA\|VA)	17	$3,795,000	$223,235	$0	0.00%
Outside of Metro Areas	48	$3,000,000	$62,500	$0	0.00%
KINGSPORT-BRISTOL, TN-VA (FHA\|USDA\|VA)	14	$1,910,000	$136,429	$0	0.00%
Bluefield, WV-VA (FHA\|USDA\|VA)	7	$565,000	$80,714	$0	0.00%
Mount Airy, NC (FHA\|USDA\|VA)	1	$215,000	$215,000	$0	0.00%
WILMINGTON, NC (FHA\|USDA\|VA)	1	$145,000	$145,000	$0	0.00%
KNOXVILLE, TN (FHA\|USDA\|VA)	1	$95,000	$95,000	$0	0.00%
Greeneville, TN (FHA\|USDA\|VA)	1	$75,000	$75,000	$0	0.00%
BLACKSBURG-CHRISTIANSBURG, VA (FHA\|USDA\|VA)	1	$45,000	$45,000	$0	0.00%
HICKORY-LENOIR-MORGANTON, NC (FHA\|USDA\|VA)	1	$35,000	$35,000	$0	0.00%

Trupoint Bank's top markets include Asheville, Johnson City, Kingsport, Bluefield, and Mount Airy among others.

Their top states include:

North Carolina (FHA|USDA|VA)

Tennessee (FHA|USDA|VA)

Virginia (FHA|USDA|VA)

West Virginia (FHA|USDA|VA)

Product Mix

Loan Type	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Conventional	109	$17,145,000	$157,294	$0	0.00%

For 2019, Trupoint Bank's most frequently originated type of loan was Conventional, with 109 originations.

Loan Reason

Loan Reason	Originations	Total Value	Avg. Loan	Avg. Fees	Avg. Rate
Home Purchase	53	$8,265,000	$155,943	$0	0.00%
Refi	37	$7,775,000	$210,135	$0	0.00%
Home Improvement	10	$400,000	$40,000	$0	0.00%
Other	9	$705,000	$78,333	$0	0.00%

For 2019, Trupoint Bank's most frequently cited loan purpose was Home Purchase, with 53 originations. The 2nd most popular reason was Refi, with 37 originations.

Loan Duration/Length

Loan Length	Originations	Total Value	Average Loan	Average Fees	Average Rate
Other	109	$17,145,000	$157,294	$0	0.00%

For 2019, Trupoint Bank's most frequently cited loan duration was Other, with 109 originations.

Loan Sizing

Loan Size	Originations	Total Value	Average Loan	Average Fees	Average Rate
$100,000 or less	62	$3,140,000	$50,645	$0	0.00%
$100k-200k	21	$3,005,000	$143,095	$0	0.00%
$200k-400k	19	$5,025,000	$264,474	$0	0.00%
$400k-600k	3	$1,365,000	$455,000	$0	0.00%
$1MM+	2	$3,280,000	$1,640,000	$0	0.00%
$600k-1MM	2	$1,330,000	$665,000	$0	0.00%

2019 saw Trupoint Bank place emphasis on $100,000 or less loans with 62 originations, totaling $3,140,000 in origination value.

Applicant Income

Applicant Income	Originations	Total Value	Average Loan	Average Fees	Average Rate
$50k or less	29	$1,305,000	$45,000	$0	0.00%
$50k-75k	21	$2,125,000	$101,190	$0	0.00%
$75k-100k	18	$1,360,000	$75,556	$0	0.00%
$100k-150k	15	$2,455,000	$163,667	$0	0.00%
$150k-250k	10	$2,770,000	$277,000	$0	0.00%
$250k+	5	$1,185,000	$237,000	$0	0.00%

Trupoint Bank lent most frequently to those with incomes in the $50k or less range, with 29 originations. The second most popular income band? $50k-75k, with 21 originations.

Applicant Debt to Income Ratio

DTI Ratio	Originations	Total Value	Average Loan	Average Fees	Average Rate
Exempt%	109	$17,145,000	$157,294	$0	0.00%

Trupoint Bank lent most frequently to those with DTI ratios of Exempt%, with 109 originations.

Ethnicity Mix

Applicant Ethnicity	Originations	Total Value	Average Loan	Average Fees	Average Rate
White	91	$9,605,000	$105,549	$0	0.00%
Not applicable	11	$5,945,000	$540,455	$0	0.00%
Asian	3	$905,000	$301,667	$0	0.00%
Black	2	$390,000	$195,000	$0	0.00%
Not provided	1	$275,000	$275,000	$0	0.00%
Guamanian	1	$25,000	$25,000	$0	0.00%

Approval Rates

Total approvals of all applications
78.24%

Trupoint Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
80.73%

Trupoint Bank has a below average pick rate.

Points and Fees

Points	Originations	Total Value	Average Loan
Exempt	109	$17,145,000	$157,294

Occupancy Type Mix

Dwelling Type	Originations	Total Value	Average Loan
Multifamily:Manufactured	2	$860,000	$430,000
Multifamily:Site-Built	4	$2,130,000	$532,500
Single Family (1-4 Units):Manufactured	28	$1,600,000	$57,143
Single Family (1-4 Units):Site-Built	75	$12,555,000	$167,400

Bank Details

Branches

Bank Name	Branch	Branch Type	Deposits (000's)
TruPoint Bank	116 South East Main St Lebanon, VA 24266	Full Service B&M	$35,372
TruPoint Bank	1009 Walnut Street Grundy, VA 24614	Full Service B&M	$95,167
TruPoint Bank	10881 Riverside Drive Oakwood, VA 24631	Full Service B&M	$21,877
TruPoint Bank	116 Executive Park Asheville, NC 28801	Full Service B&M	$11,877
TruPoint Bank	13250 Governor G C Peery Highway Pounding Mill, VA 24637	Full Service B&M	$12,112
TruPoint Bank	1425 Second Street Richlands, VA 24641	Full Service B&M	$31,917
TruPoint Bank	16552 Russell Street Saint Paul, VA 24283	Full Service B&M	$38,726
TruPoint Bank	1897 Lee Highway Bristol, VA 24201	Full Service B&M	$18,346
TruPoint Bank	20089 Riverside Drive Grundy, VA 24614	Full Service B&M	$74,128
TruPoint Bank	600 East Main Street Abingdon, VA 24212	Full Service B&M	$14,152
TruPoint Bank	709 Medtech Pkwy, 709 Medtech Pkwy Johnson City, TN 37604	Full Service B&M	$14,870
TruPoint Bank	914 West Main Street Abingdon, VA 24210	Full Service B&M	$24,198

For 2019, Trupoint Bank had 12 branches.

Yearly Performance Overview

Bank Income

Item	Value (in 000's)
Total interest income	$16,665
Net interest income	$14,681
Total noninterest income	$3,653
Gross Fiduciary activities income	$0
Service charges on deposit accounts	$1,114
Trading account gains and fees	$0
Additional Noninterest Income	$2,539
Pre-tax net operating income	$4,743
Securities gains (or losses, -)	$10
Income before extraordinary items	$3,876
Discontinued Operations (Extraordinary gains, net)	$0
Net income of bank and minority interests	$3,876
Minority interest net income	$0
Net income	$3,876
Sale, conversion, retirement of capital stock, net	$0
Net operating income	$3,867

Trupoint Bank's gross interest income from loans was $16,665,000.
Trupoint Bank's net interest income from loans was $14,681,000.
Trupoint Bank's fee based income from loans was $1,114,000.
Trupoint Bank's net income from loans was $3,876,000.

Bank Expenses

Item	Value (in 000's)
Total interest expense	$1,984
Provision for credit losses	$271
Total noninterest expense	$13,320
Salaries and employee benefits	$7,539
Premises and equipment expense	$1,446
Additional noninterest expense	$4,335
Applicable income taxes	$877
Net charge-offs	$-35
Cash dividends	$431

Trupoint Bank's interest expense for loans was $1,984,000.
Trupoint Bank's payroll and benefits expense were $7,539,000.
Trupoint Bank's property, plant and equipment expenses $1,446,000.

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	1.0%
HELOC loans	0.0%
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	$389,220
Deposits held in domestic offices	$389,220
Deposits by Individuals, partnerships, and corporations	$337,579
Deposits by U.S. Government	$0
Deposits by States and political subdivisions in the U.S.	$51,640
Deposits by Commercial banks and other depository institutions in U.S.	$0
Deposits by Banks in foreign countries	$0
Deposits by Foreign governments and official institutions	$0
Transaction accounts	$36,737
Demand deposits	$17,671
Nontransaction accounts	$352,482
Money market deposit accounts (MMDAs)	$12,475
Other savings deposits (excluding MMDAs)	$235,130
Total time deposits	$104,876
Total time and savings deposits	$371,548
Noninterest-bearing deposits	$92,126
Interest-bearing deposits	$297,094
Retail deposits	$367,657
IRAs and Keogh plan accounts	$17,702
Brokered deposits	$0
Deposits held in foreign offices	$0

Assets

Asset	Value (in 000's)
Total Assets	$458,211
Cash & Balances due from depository institutions	$44,782
Interest-bearing balances	$40,424
Total securities	$75,867
Federal funds sold & reverse repurchase	$0
Net loans and leases	$307,734
Loan and leases loss allowance	$2,648
Trading account assets	$0
Bank premises and fixed assets	$10,324
Other real estate owned	$170
Goodwill and other intangibles	$0
All other assets	$19,334

Liabilities

Liabilities	Value (in 000's)
Total liabilities and capital	$458,211
Total Liabilities	$412,595
Total deposits	$389,220
Interest-bearing deposits	$297,094
Deposits held in domestic offices	$389,220
% insured (estimated)	$77
Federal funds purchased and repurchase agreements	$4,891
Trading liabilities	$0
Other borrowed funds	$15,000
Subordinated debt	$0
All other liabilities	$3,484

Issued Loan Types

Type	Value (in 000's)
Net loans and leases	$307,734
Loan and leases loss allowance	$2,648
Total loans and leases (domestic)	$310,382
All real estate loans	$215,070
Real estate loans in domestic offices	$215,070
Construction and development loans	$5,636
Residential 1-4 family construction	$1,249
Other construction, all land development and other land	$4,387
Loans secured by nonfarm nonresidential properties	$103,186
Nonfarm nonresidential secured by owner-occupied properties	$45,704
Commercial real estate & other non-farm, non-residential	$57,482
Multifamily residential real estate	$20,405
1-4 family residential loans	$85,327
Farmland loans	$516
Loans held in foreign offices	$0
Farm loans	$6
Commercial and industrial loans	$72,859
To non-U.S. addressees	$0
Loans to individuals	$19,590
Credit card loans	$0
Related Plans	$80
Consumer Auto Loans	$2,898
Other loans to individuals	$16,612
All other loans & leases	$2,857
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	$73
Loans secured by real estate to non-U.S. addressees	$0
Restructured Loans & leases	$0
Non 1-4 family restructured loans & leases	$0
Total loans and leases (foreign)	$0

TruPoint Bank had $307,734,000 of loans outstanding in 2019. $215,070,000 of loans were in real estate loans. $5,636,000 of loans were in development loans. $20,405,000 of loans were in multifamily mortgage loans. $85,327,000 of loans were in 1-4 family mortgage loans. $6,000 of loans were in farm loans. $0 of loans were in credit card loans. $2,898,000 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	$45,235	$226,175
Nonfarm, nonresidential loans - <$100k	34	$986	$29,000
Nonfarm, nonresidential loans - $100-250k	77	$8,519	$110,636
Nonfarm, nonresidential loans - $250k-1MM	89	$35,730	$401,461
Commercial & Industrial, US addressed loans - <$1MM	486	$60,156	$123,778
Commercial & Industrial, US addressed loans - <$100k	231	$8,168	$35,359
Commercial & Industrial, US addressed loans - $100-250k	166	$21,502	$129,530
Commercial & Industrial, US addressed loans - $250k-1MM	89	$30,486	$342,539
Farmland loans - <$1MM	1	$12	$12,000
Farmland loans - $100-250k	1	$12	$12,000
Agriculture operations loans - <$1MM	2	$5	$2,500
Agriculture operations loans - <$100k	2	$5	$2,500