Bank Of Botetourt Mortgage Rates, Fees & Info

Roanoke, VA

LEI: 549300VBSEU7L0HIUP28

Tax ID: 54-0132390

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

Jump to:

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 Botetourt is a smaller bank specializing in Home Purchase loans. Bank Of Botetourt has a high proportion of conventional loans. Their top markets by origination volume include: Roanoke, Lynchburg, Staunton, Danville, and Blacksburg among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Bank Of Botetourt has an above average approval rate when compared to the average across all lenders. They have an above 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    Originations

    176

    Origination Dollar Volume (All Markets)

    $53,510,000

    Employee count

    122

    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
    ROANOKE, VA (FHA|USDA|VA) 132 $43,090,000 $326,439 $0 0.00%
    Outside of Metro Areas 29 $4,385,000 $151,207 $0 0.00%
    LYNCHBURG, VA (FHA|USDA|VA) 7 $3,045,000 $435,000 $0 0.00%
    STAUNTON, VA (FHA|USDA|VA) 6 $1,810,000 $301,667 $0 0.00%
    Danville, VA (FHA|USDA|VA) 1 $1,025,000 $1,025,000 $0 0.00%
    BLACKSBURG-CHRISTIANSBURG, VA (FHA|USDA|VA) 1 $155,000 $155,000 $0 0.00%
    Bank Of Botetourt's top markets include Roanoke, Lynchburg, Staunton, Danville, and Blacksburg among others.

    Their top states include:
  • Virginia (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 176 $53,510,000 $304,034 $0 0.00%

    For 2021, Bank Of Botetourt's most frequently originated type of loan was Conventional, with 176 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 121 $39,505,000 $326,488 $0 0.00%
    Refi 20 $6,830,000 $341,500 $0 0.00%
    Home Improvement 16 $2,960,000 $185,000 $0 0.00%
    Other 11 $785,000 $71,364 $0 0.00%
    Cash Out Refi 8 $3,430,000 $428,750 $0 0.00%

    For 2021, Bank Of Botetourt's most frequently cited loan purpose was Home Purchase, with 121 originations. The 2nd most popular reason was Refi, with 20 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 176 $53,510,000 $304,034 $0 0.00%

    For 2021, Bank Of Botetourt's most frequently cited loan duration was Other, with 176 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 49 $2,885,000 $58,878 $0 0.00%
    $100k-200k 45 $6,285,000 $139,667 $0 0.00%
    $200k-400k 45 $12,425,000 $276,111 $0 0.00%
    $400k-600k 13 $5,985,000 $460,385 $0 0.00%
    $1MM+ 12 $17,150,000 $1,429,167 $0 0.00%
    $600k-1MM 12 $8,780,000 $731,667 $0 0.00%

    2021 saw Bank Of Botetourt place emphasis on $100,000 or less loans with 49 originations, totaling $2,885,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 21 $13,665,000 $650,714 $0 0.00%
    $50k-75k 17 $1,935,000 $113,824 $0 0.00%
    $50k or less 17 $1,825,000 $107,353 $0 0.00%
    $100k-150k 14 $2,300,000 $164,286 $0 0.00%
    $150k-250k 12 $4,890,000 $407,500 $0 0.00%
    $75k-100k 11 $1,065,000 $96,818 $0 0.00%

    Bank Of Botetourt lent most frequently to those with incomes in the $250k+ range, with 21 originations. The second most popular income band? $50k-75k, with 17 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 176 $53,510,000 $304,034 $0 0.00%

    Bank Of Botetourt lent most frequently to those with DTI ratios of Exempt%, with 176 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 83 $27,625,000 $332,831 $0 0.00%
    White 74 $22,280,000 $301,081 $0 0.00%
    Not provided 15 $1,605,000 $107,000 $0 0.00%
    Asian 1 $1,025,000 $1,025,000 $0 0.00%
    Black 2 $840,000 $420,000 $0 0.00%
    Asian Indian 1 $135,000 $135,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    96.88%

    Bank Of Botetourt has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    94.32%

    Bank Of Botetourt has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 176 $53,510,000 $304,034

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    176 $53,510,000 $304,034

    Complaints

    Bank Name Product Issue 2021 CPFB Complaints % of Total Issues
    BANK OF THE WEST Conventional home mortgage Applying for a mortgage or refinancing an existing mortgage 5 16.7%
    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 Closing on a mortgage 1 3.3%
    BANK OF THE WEST Conventional home mortgage Trouble during payment process 6 20.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Bank of Botetourt 140 Town Center Street Daleville, VA 24083 Full Service B&M $118,430
    Bank of Botetourt 19747 Main Street Buchanan, VA 24066 Full Service B&M $88,879
    Bank of Botetourt 231 S. College Avenue Salem, VA 24153 Full Service B&M $27,176
    Bank of Botetourt 3130 Peters Creek Road Roanoke, VA 24019 Full Service B&M $40,121
    Bank of Botetourt 3232 Electric Road Roanoke, VA 24018 Full Service B&M $31,734
    Bank of Botetourt 3801 Challenger Avenue Roanoke, VA 24012 Full Service B&M $54,841
    Bank of Botetourt 51 Firstwatch Drive Moneta, VA 24121 Full Service B&M $42,637
    Bank of Botetourt 5462 Lee Highway Troutville, VA 24175 Full Service B&M $49,936
    Bank of Botetourt 58 Railroad Ave Eagle Rock, VA 24085 Full Service B&M $20,600
    Bank of Botetourt 5905 North Lee Highway Fairfield, VA 24435 Full Service B&M $19,469
    Bank of Botetourt 65 East Midland Trail Lexington, VA 24450 Full Service B&M $74,740
    Bank of Botetourt 9 Lloyd Tolley Road Natural Bridge Station, VA 24579 Full Service B&M $12,730

    For 2021, Bank Of Botetourt had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $22,471
    Net interest income $19,846
    Total noninterest income $4,469
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $688
    Trading account gains and fees $0
    Additional Noninterest Income $3,781
    Pre-tax net operating income $8,406
    Securities gains (or losses, -) $44
    Income before extraordinary items $6,879
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $6,879
    Minority interest net income $0
    Net income $6,879
    Sale, conversion, retirement of capital stock, net $498
    Net operating income $6,843

    Bank Of Botetourt's gross interest income from loans was $22,471,000.
    Bank Of Botetourt's net interest income from loans was $19,846,000.
    Bank Of Botetourt's fee based income from loans was $688,000.
    Bank Of Botetourt's net income from loans was $6,879,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $2,625
    Provision for credit losses $425
    Total noninterest expense $15,484
    Salaries and employee benefits $7,276
    Premises and equipment expense $1,509
    Additional noninterest expense $6,699
    Applicable income taxes $1,571
    Net charge-offs $-10
    Cash dividends $1,257

    Bank Of Botetourt's interest expense for loans was $2,625,000.
    Bank Of Botetourt's payroll and benefits expense were $7,276,000.
    Bank Of Botetourt's property, plant and equipment expenses $1,509,000.

    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 1.0%
    All other family 0.0%
    Commercial & industrial loans 0.0%
    Personal loans 1.0%
    Credit card loans 0.0%
    Other individual loans 1.0%
    Auto loans 0.0%
    Other consumer loans 2.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $598,659
    Deposits held in domestic offices $598,659
    Deposits by Individuals, partnerships, and corporations $564,567
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $34,092
    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 $221,263
    Demand deposits $85,623
    Nontransaction accounts $377,396
    Money market deposit accounts (MMDAs) $57,063
    Other savings deposits (excluding MMDAs) $101,975
    Total time deposits $218,357
    Total time and savings deposits $513,036
    Noninterest-bearing deposits $85,623
    Interest-bearing deposits $513,036
    Retail deposits $549,937
    IRAs and Keogh plan accounts $28,248
    Brokered deposits $10,498
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $663,766
    Cash & Balances due from depository institutions $142,928
    Interest-bearing balances $135,944
    Total securities $66,479
    Federal funds sold & reverse repurchase $445
    Net loans and leases $426,311
    Loan and leases loss allowance $5,674
    Trading account assets $0
    Bank premises and fixed assets $14,369
    Other real estate owned $27
    Goodwill and other intangibles $0
    All other assets $13,207

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $663,766
    Total Liabilities $604,629
    Total deposits $598,659
    Interest-bearing deposits $513,036
    Deposits held in domestic offices $598,659
    % insured (estimated) $85
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $3,000
    Subordinated debt $0
    All other liabilities $2,970

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $426,311
    Loan and leases loss allowance $5,674
    Total loans and leases (domestic) $431,985
    All real estate loans $379,925
    Real estate loans in domestic offices $379,925
    Construction and development loans $49,513
    Residential 1-4 family construction $23,170
    Other construction, all land development and other land $26,343
    Loans secured by nonfarm nonresidential properties $134,063
    Nonfarm nonresidential secured by owner-occupied properties $79,338
    Commercial real estate & other non-farm, non-residential $54,725
    Multifamily residential real estate $12,850
    1-4 family residential loans $164,891
    Farmland loans $18,608
    Loans held in foreign offices $0
    Farm loans $1,626
    Commercial and industrial loans $32,182
    To non-U.S. addressees $0
    Loans to individuals $17,489
    Credit card loans $1,954
    Related Plans $1,858
    Consumer Auto Loans $6,631
    Other loans to individuals $7,046
    All other loans & leases $1,260
    Loans to foreign governments and official institutions $0
    Other loans $467
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $38
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $786
    Non 1-4 family restructured loans & leases $364
    Total loans and leases (foreign) $0

    Bank of Botetourt had $426,311,000 of loans outstanding in 2021. $379,925,000 of loans were in real estate loans. $49,513,000 of loans were in development loans. $12,850,000 of loans were in multifamily mortgage loans. $164,891,000 of loans were in 1-4 family mortgage loans. $1,626,000 of loans were in farm loans. $1,954,000 of loans were in credit card loans. $6,631,000 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 239 $58,198 $243,506
    Nonfarm, nonresidential loans - <$100k 42 $1,939 $46,167
    Nonfarm, nonresidential loans - $100-250k 68 $8,019 $117,926
    Nonfarm, nonresidential loans - $250k-1MM 129 $48,240 $373,953
    Commercial & Industrial, US addressed loans - <$1MM 563 $29,253 $51,959
    Commercial & Industrial, US addressed loans - <$100k 445 $10,078 $22,647
    Commercial & Industrial, US addressed loans - $100-250k 79 $8,977 $113,633
    Commercial & Industrial, US addressed loans - $250k-1MM 39 $10,198 $261,487
    Farmland loans - <$1MM 33 $4,505 $136,515
    Farmland loans - <$100k 6 $136 $22,667
    Farmland loans - $100-250k 16 $1,552 $97,000
    Farmland loans - $250k-1MM 11 $2,817 $256,091
    Agriculture operations loans - <$1MM 31 $1,625 $52,419
    Agriculture operations loans - <$100k 26 $514 $19,769
    Agriculture operations loans - $100-250k 3 $347 $115,667
    Agriculture operations loans - $250k-1MM 2 $764 $382,000